+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
International Accounting
 

Analysis of the basic categories of IFRS within the substance-over-form concept

Vol. 18, Iss. 32, AUGUST 2015

Received: 1 September 2015

Received in revised form: 1 October 2015

Accepted: 9 October 2015

Available online: 9 November 2015

Subject Heading: INTERNATIONAL STANDARDS OF ACCOUNTING AND REPORTING

JEL Classification: 

Pages: 28-40

Lukanina A.V. Chelyabinsk State University, Chelyabinsk, Russian Federation
lukaninaav@yandex.ru

Subject The article studies one of the main areas of reforming the Russian accounting laws, namely, recording economic events in accordance with their economic substance rather than legal form. The research of economic and juridical characteristics of economic events that are disclosed in accounting records is of special significance.
     Objectives The purpose of the research is to identify problems related to recognition of assets, capital and liabilities proceeding from the substance over form concept, and to propose recommendations to address them.
     Methods The methodological basis of the study is a comparative analysis.
     Results The article covers the issues related to recording economic and juridical characteristics of economic events under RAS and IFRS. I analyze recognition criteria of assets, capital and liabilities, show their differences, and offer recommendations to eliminate the differences through disclosure of additional information in financial statements.
     Conclusions and Relevance I performed an analysis of the basic categories of IFRS from a legal point of view. This enabled to develop tables for additional data disclosure in financial statements to inform users of financial statements about juridical characteristics of economic events.

Keywords: criteria, economic substance, legal form

References:

  1. Pyatov M.L., Smirnova I.A. Kontseptual'nye osnovy mezhdunarodnykh standartov finansovoi otchetnosti [Conceptual framework of international financial reporting standards]. Moscow, OOO 1S-Publishing Publ., 2008, 199 p.
  2. Sokolov Ya.V. Osnovy teorii bukhgalterskogo ucheta: monografiya [Fundmentals of the accounting theory: a monograph]. Moscow, Finansy i statistika Publ., 2003, 496 p.

View all articles of issue

 

ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 27, Iss. 4
April 2024

Archive