TITLE PAGE

Introduction
Chapter 1. Classification of accounting models
Chapter 2. Committee on International Financial Reporting Standards
Chapter 3. General Principles of International Standards
Chapter 4. Brief character of international standards
Chapter 5. The main differences in Russian and international accounting standards
Chapter 6. Refo Ma Accounting in Russia
Conclusion

List of used literature

Introduction

Introduction is absent

Chapter 1. Classification of accounting models

Since the factors affecting the formation of an accounting system are interrelated, in countries with similar socio-economic conditions, the principles of accounting have a lot in common. The most common classification of accounting models is based on the legal system and the various influence of inflationary processes. In general or case law (England, United States), legislation is built on court decisions that regulate specific relationships and form a unified system of law. Accounting standards are determined mainly by various non-governmental professional associations of accountants.

In other countries (Continental Europe, Japan), the historical basis of the legislation are the material norms of Roman law the main source of law is the law. Legal norms regulate the general range of relations; Private law is codified and divided into civil and commercial. Unlike the first group of countries, this legal system is strictly and in detail regulators accounting rules.

In accordance with this classification, it is possible to distinguish 3 major accounting models.

British-American model.The key contribution to the development of this model was introduced by the United Kingdom, USA and Holland. Here, the active development of the shareholder ownership of capital led to the fact that the accounting reports are viewed as the main source of information for investors and lenders. Almost all companies are present in the securities market, and they are directly interested in providing objective information about their financial position. This model in most countries involves the use of the initial cost accounting principle (Historical Cost Principle). It is assumed that the influence of inflation is small and economic operations (implementation, the work of the costs, the acquisition of financial assets) are reflected at prices at the time of transactions. In the middle of the 70s, when inflation rates increased in the USA as a result of the oil crisis, the Council on Financial Accounting Standards recommended to provide reporting with inflation adjustment, but already in 1984, when inflation decreased, the rules were refused.

The British-American accounting concept was subsequently "exported" to the former English colonies and close trading partners of Great Britain and the United States. Currently, it is used: Australia, Bahamas, Barabados, Benin, Bermuda, Botswana, Venezuela, Ghana, Hong Kong, Dominican Republic, Zambia, Zimbabwe, Israel, India, Indonesia, Ireland, Cayman Islands, Canada, Kenya, Cyprus, Colombia, Liberia, Malawi, Malaysia, Mexico, Nigeria, New Zealand, Pakistan, Panama, Papua - New Guinea, Puerto Rico, Singapore, Tanzania, Trinidad and Tobago, Uganda, Fiji, Philippines, Central America, South Africa, Jamaica.

Continental model.The experts of continental Europe and Japan are considered by the experts of this model. Here the specificity of accounting is due to two factors: business orientation on large bank capital and compliance with the requirements of fiscal bodies. Attracting investments is carried out with the direct participation of banks, and therefore the financial statements of companies is intended primarily for them, and not for the participants of the securities market. In the continental model, government agencies have a significant impact on the procedure for reporting. This can be explained by the priority of the task of the state to collect taxes. Basically, the country with this model is also guided by the principle of invaluance of the initial assessment. Russia refers to the continental accounting model, Germany and France also had a certain influence on our accounting.

This model is used: Austria, Algeria, Angola, Belgium, Burkina Faso, Côte d "Ivoire, Guinea, Germany, Greece, Denmark, Egypt, Zaire, Spain, Italy, Cameroon, Luxembourg, Mali, Morocco, Norway, Portugal, Russia , Senegal, Sierra Leone, Togo France, Switzerland, Sweden, Japan.

South American model.The key impact on the establishment of accounting in South American countries had inflationary processes. Therefore, the distinctive characteristic of this model is the method of adjusting reporting indicators taking into account changes in the overall price level. Inflation Amendment is necessary to ensure the accuracy of current financial information (especially in relation to long-term assets). Correction of reporting is focused on the state needs of the revenue budget.

The South American model is applied in countries: Argentina, Bolivia, Brazil, Guyana, Paraguay, Peru, Uruguay, Chile, Ecuador.

In addition to the listed models, some countries use mixed systems with national specifics. For example, specialists allocate an Islamic model that developed under the strong influence of Muslim religion.

It should be emphasized that division on the accounting models is very conditional - there are no two countries with fully identical accounting systems. On the other hand, due to objective processes in the global economy, the need for international standardization of accounting is obvious. A number of organizations are engaged in the unification of accounting standards and reporting standards.

Committee on International Financial Reporting Standards International Accounting Standards Committee COMMITTEE, CMSFO) is a leading organization in the world to develop uniform accounting standards. It is the standards of the CMSFO that were chosen in Russia as the basis for creating new Russian standards.

Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting in the UN . The Working Group was established in 1982 and is engaged in studying the problems of accounting in an international aspect, promoting standardization of accounting at the national and international level, the help of developing countries in the implementation of standards. The group closely interacts with international organizations (UN, OECD, CMSFO).

European Commission He is engaged in harmonization of accounting within the European Union. This process is complicated by the presence of significant differences in the accounting practice of countries - members of the Union: in Holland, Great Britain and Ireland - accounting is focused, first of all, on creditors and owners, in Germany, Belgium and Luxembourg - on banks, in France accounting is strongly dependent on macroeconomic Planning. The basis of the European legislation in the area of \u200b\u200baccounting are the 4th and 7th directives of the Council of Ministers (respectively, dated July 25, 1978 and June 13, 1983). The first affects the issues of compiling annual reporting by joint-stock companies, the second is devoted to the issues of compiling consolidated (consolidated) reporting. On December 8, 1986, the Directive was adopted on the annual and consolidated reporting of banks and other financial institutions. In November 1995, the European Commission approved a new approach to the harmonization of accounting. Recognized that "European directives do not comply with international standards necessary for the capital market purposes. Transnational companies are forced to prepare 2 sets of financial statements, which is very expensive, and can lead into confusion of investors. " In this regard, given the agreement between the CMSFO and the International Organization of Securities Commissions on the Recognition of IFRS as a mandatory condition for obtaining quotes on international stock markets, the European Union decided to gradually transition to IFRS. This process will be carried out by consistently eliminating the differences between the directives and IFRS. For example, a study conducted in 1996 by the European Union showed that EU directives and international standards for consolidated statements are generally compatible, with the exception of 2 small differences.

US Securities and Exchange Commission (Securities and Exchange Commission) is a government organization whose jurisdiction applies to all companies selling securities in the United States (including foreign). Therefore, the Commission may have a certain impact on the accounting methodology.

Financial Accounting Standards Council Financial Accounting Standards Board) is engaged in the development of American accounting principles. As a rule, the standards of this non-governmental organization are distributed in the countries of the Anglo-American model, but now this organization is being considered as a potential KMSFO competitor in developing international financial reporting standards.

Chapter 2. Committee on International Financial Reporting Standards

§ 1. The structure of the Committee.

The International Financial Reporting Standards Committee was founded in 1973 as a result of the Agreement of Professional Organizations 10 countries: Australia, Canada, France, Germany, Japan, Mexico, Netherlands, Great Britain, Ireland and the United States. CMSFO is an independent private organization, members of which are currently 143 associations of accountants (including 5 associated and 4 subsidiaries) from 104 countries with a total number of more than 2 million people. According to the charter, the main objectives of the CMSFO is:

1. "Formulate and publish based on public interests, financial statements, which should be respected in the preparation and submission of financial reports, and stimulate their widespread adoption and compliance
2. carry out work to improve and harmonize norms, accounting standards and procedures related to the submission of financial reports "

The work of the CMSFO is funded by contributions from professional associations of accountants, various companies, financial organizations, as well as at the expense of profits from standards publications. In 1999, the budget of the CMSFO amounted to about 3 million dollars.

The structure of the Committee consists of 5 levels:

• Board of the Committee (IASC Board)
• Consultative Group (Consultative Group)
• Advisory Council on Standards (Advisory Council)
• Permanent Interpretation Committee (Standing Interpretations Committee)
• Strategy Working Group (Strategy Working Party)

The Board of the CMSFO is the main committee management body and the submission of international financial statements. The Board includes representatives of accounting organizations from 13 countries (or at the same time from several countries), which are appointed by the International Federation of Accountants (IFAC). The cooperation of the Federation and the CMSFO began in 1983 and at present the composition of the Committee includes all organizations - IFAC members. In addition to representatives of the countries, the Board appoints to 4 organizations involved in the issues of financial reporting issues. Each member of the Board may be represented by one or two representatives and one technical adviser. Usually, the delegation consists of a representative of an industrial organization and a representative of an organization engaged in the development of national standards. As of April 2000, the Board consists of 16 members. These are accounting organizations from the following countries: Australia, Canada, France, Germany, India and Sri Lanka, Japan, Malaysia, Mexico, Holland, Northern Federation of Public Accountants, South Africa and Zimbabwe, United Kingdom, USA; As well as representatives of organizations: the International Council of Investment Associations, the Federation of Industrial Holding Companies of Switzerland and the International Association of Institutions of Financial Governors. The status of observers in the Board (i.e. without the right to vote) have: European Commission, the Council for the Development of Financial Accounting Standards of the United States, the International Organization of Securities Commission and China.

Members of the Board are elected for 2.5 years with the right of re-election. In practice, the Board of the Committee is collected for a week 4-5 times a year. The Board chooses the Chairman and his deputy.

The advisory group was founded in 1981 and includes representatives of international organizations - developers and users of financial statements; stock exchanges; Authorities governing securities and intergovernmental organizations. The Advisory Group is regularly found with the Board of the SMFO to discuss issues regarding new projects of the Committee, the Work Program and the KMSFO Strategy. The group plays an important role in the preparation and adoption of international standards.

Now members of the advisory group are:

• International Federation of Securities and Finance (Fédération International Des Bourses de Valeurs, FIBV)
• International Association of Development of Accounting Education and Research (International Association for Accounting Education and Research, Iaaer)
• INTERNATIONAL BANKING ASSOCIATIONS
• International Bar Association (International Bar Association, IBA)
• INTERNATIONAL CHAMBER OF COMMERCE (ICC)
• International Confederation of Free Trade Unions, ICFTU) (International Confederation Of FREE TRADE UNIONS
• World Confederation of Labor (Labor)
• INTERNATIONAL VALUATION STANDARDS COMMITTEE, IVSC
• INTERNATIONAL FINANCE CORPORATION, IFC
• WORLD BANK (THE WORLD BANK)

As observers in the advisory group include:

• FINANCIAL Accounting Standards Board
• Organization for Economic Cooperation and Development (Organization for Economic Co-Operation and Development, OECD)
• EUROPEAN COMMISSION
• UN Branch of Transnational Corporations and Investments (United Nations Division On Transnational Corporations and Investment)

So the influential composition of the group indicates recognition that international standards received and about the desire of international business to ensure a unified approach to the "reading" of financial statements.

Another KMSFO body is a consultative (or guardianship) Council for the standards created in 1995. The Advisory Council includes the most famous specialists who occupy high positions in the accounting profession and business. The main task of the Council is to promote the ubiquitous adoption of international standards and strengthen the authority of the CMSFO. The advisory board performs the following functions:

• consideration and commenting of the Strategy and Plan of Board in terms of their compliance with the needs of members of the Committee
• preparation of the annual report on the effectiveness of the Board in the process of achieving its goals and duties
• promoting the participation and approval of the work of the CMSFO by representatives of the accounting profession, business circles, users of financial statements and other interested parties
• search for sources of financing the work of the Committee in such a way that this does not affect the independence of the Committee
• consideration of the budget and financial statements of KMSFO

The Advisory Board guarantees the independence and objectivity of the Board in decision-making on proposed standards. The Council does not participate in the process of making decisions and does not seek to influence it. Now the authority includes 11 members on a biennial basis with the right of re-election.

In 1997, the Board of the CMSFO approved the creation of a standing committee on interpretations. His task includes consideration of accounting issues that have not been reflected in existing standards or may have ambiguous interpretation. The work of the Committee is carried out in close cooperation with similar national committees. The Committee is engaged in unsatisfactory practice of accounting within the framework of international standards and the emergence of new circumstances, not taken into account when developing existing standards. The Permanent Committee on Interpretations consists of 12 voting members who take interpretations. Representatives of the European Commission and the International Organization of Securities Commission are observers without the right to vote.

§ 2. Reforming the structure of the Committee.

In November 1999, KMSFO adopted a fundamental decision on the support of the draft reform of his structure, which, according to the plan of the Board of the Committee, should become an important step towards the transformation of the IASFO in the developer of standards at the global level. The essence of reform is the transformation of the CMSFO in an independent organization by the type of Fund. The Committee will consist of 2 main bodies: trusted persons and reigns, as well as from the Standing Committee on Interpretations, Advisory Board on Standards and Committee on Nominations.

The Nominating Committee of Nominating Committee is needed for the election of the first group of trusted persons and it will include 5-8 well-known specialists.

In the composition of trustees) will include 19 persons who have rich experience in various fields of activity. This body will be responsible for choosing members of the Management Board, the Committee on Interpretations and the Advisory Board. Trusted persons will control CMSFO financial flows, as well as make decisions on further reorganization of the Committee's structure. Initially, 6 representatives from North America will include 6 representatives from North America, 6 from Europe, 4 from the Pacific and 3 from other regions.

Instead of the Board, a new board from 14 people should appear in the current composition (of which 12 will work on a permanent basis, and the remaining 2 are at an incomplete rate). It is assumed that to ensure the proper balance of experience, at least 5 members of the Board should have experience in working as practicing auditors, 3 - Experience in the implementation of financial reporting, 3 - Experience as users of financial statements, and at least one member of the Board - Experience in higher education institutions. Several members of the Board (but not more than 7) will support direct relationship with the authorities establishing national standards. To make a new standard or interpretation, it will be necessary to obtain approval from 8 out of 14 members of the Board.

Through the New Advisory Board on Standards, all interested parties will be able to provide recommendations for improving IFRS to the Board and Trusted Persons.

The Permanent Committee on Interpretations according to the project will maintain its current structure.

These changes must be approved by the majority of 143 members of the Committee. In case the reorganization is successful, the proposed structure will come into effect, starting from January 1, 2001. The purpose of the reform is to increase the efficiency and professionalism of the CMSFO and it is important that this step is now raising positive responses from leading experts in the field of accounting accounting.

§ 3. The process of developing IFRS.

In order to ensure the highest quality standards, and, therefore, their widespread use in the world, the Committee has developed a multi-stage procedure for their development and adoption. Development of international standards is carried out in 6 stages.

Stage 1 - Formation of the Preparatory Committee (STEERING COMMITTEE). The Committee is formed by the Board from specialists at least 3 countries and is headed by a representative of the Board. The preparatory committees may also include representatives of other organizations submitted to the Board, Advisory Group and Experts in a specific area.

Stage 2 - Development of a draft standard. The Preparatory Committee is planning a project plan, then carefully studies the practice of accounting on this issue in various countries, including various acacts suitable for various conditions. According to the results of the research, the Committee submits for consideration by the Board of the SMFO, the General Plan for the Development of the International Financial Reporting Standard (Point Outline) project.

3 Stage - Preparation of the working draft provisions of the Standard. During this stage, which usually lasts about 4 months, the preparatory committee is preparing a draft presentation of the Principles (Draft Statement of Principles) or another discussion document. It formulates the basic principles of the preparation of the following document - the project of the International Financial Reporting Standard (Exposure Draft), as well as alternative solutions and arguments in favor of their adoption or deviation. All interested parties have the right to make their comments and suggestions to the working draft. At certain cases, before the draft presentation of the principles, the Board may be invited to discuss.

4 Stage - approval by the Board of the Working Project of Standard Provisions. After considering all the comments on the work project of the provisions, the preparatory committee agrees its final version and submits to the approval of the Board.

5 Stage - drawing up a plan for developing an international standard. The Preparatory Committee is a draft international standard of financial statements, which, after its approval by two thirds of the Board, is usually published, and all parties can make comments and suggestions. This stage can continue from one to three months.

6 Stage - Preparation of the International Standard Project. The Preparatory Committee considers all comments and conveys a project for consideration by the Board. To accept and publish a new standard, at least 12 votes of board members (out of 16). Otherwise, the Board may decide on additional consultations and making the necessary changes to the project. In practice, this requires the preparation of a new IFRS project.

The Board may also form a preparatory committee to make adjustments to already existing standards or their replacement for new standards. In this case, the procedure for making changes to the standard is similar to the above, with the exception that the Preparatory Committee also prepares the draft statement of principles without prior preparation of the IFRS issue scheme.

It should also be noted that the approved text of all international standards is the text published by the Committee in English. All official translations are prepared with the participation of KMMSFO specialists. Currently, IFRS is officially translated into 4 languages \u200b\u200b(German, Russian, French and Polish), work on the official translation into Chinese, Japanese, Portuguese and Spanish. Unofficially international standards are translated into more than 30 languages.

Chapter 3. General Principles of International Standards

§ 1. Objectives of financial statements

International standards are advisory and countries can independently make decisions about their use. But since IFRS is, in fact, the generalized practice of taking into account the most developed accounting systems in the world (American and European), it is quite obvious that their blind copying can often negatively affect the national practice of accounting. Therefore, the principal basis for the transition to international standards, first of all, should be the recognition of general principles for the preparation and compilation of financial statements (Framework for the Preparation and Presentation of Financial States). Principles of preparation and preparation of financial statements are formulated as a separate document. This document is not standard and does not contain mandatory requirements and recommendations. If any provisions of standards contradict the principles, the provisions of the standard apply. At the same time, according to KMSFO, when developing future and revision of existing standards, the number of discrepancies will be sequentially decreased.

In accordance with the principles, the purpose of financial statements is to provide information on the financial position, the results of activities and changes in the financial position of the company. This information is needed a wide range of users when making economic solutions. " Financial reporting users, principles include investors, workers, ledents, suppliers and other trade lenders, buyers, governments and their bodies, the public.

In addition to goals, the conceptual frameworks define general principles for the preparation of financial statements, the rules for recognizing and evaluating individual elements of financial statements. The general principles of international standards were adopted by the Board in April 1989 and they can be divided into 2 groups: basic principles and qualitative characteristics of information.

§ 2. Basic principles of international standards

International standards are based on 2 basic principles:

1. The principle of accruals (Accrual Basis) means that economic operations are reflected at the time of their commission, and not as the payment of money has received or pay. Thus, the operations will be taken into account in the reporting period in which they arose. This principle makes it possible to obtain objective information about future liabilities and future cash receipts, i.e. Allows you to predict future results of the enterprise. Possible non-receipt of the part of the amounts declared funds can be adjusted by the timely accrual of the reserve for dubious debts by reducing the financial results of the reporting period.
2. The principle of continuity of activity (Going Concern) suggests that the company will continue its activities in the near future. And since the company has no intention to reduce the scale of activity, its assets will be reflected at the initial cost without accounting for liquidation costs.

§ 3. Qualitative characteristics of information

In order for the information to be used at the international level, it must meet the following qualitative characteristics:

• understandability information means that it is available for understanding users who have sufficient knowledge in accounting
• replenity or significance (Relevance) information suggests that it will affect economic solutions. The importance of information is determined by 3 parameters: a substance (distortion of information may affect economic decisions), timeliness (information does not contribute to decisions) and rationality (the benefits received from the information should exceed the cost of obtaining it, and the cost correlation and costs require professional estimates)
• reliability or reliability (reliability) of information is in the event that it does not contain significant estimates and is impartial. Significant information should meet the following requirements:
• fAITHFUL REPRESENTATION
• content priority in front of the form (Substance Over Form) - information should take into account first of all, economic essence facts of economic operations
• neutrality (neutrality) i.e. The wrongness of information on the interests of certain user groups
• the prudence is a very important requirement that is to conservative assessment of assets and liabilities. Assets and income should not be overvalued, and commitments and liabilities are undervalued, i.e. Assets are reflected in the smallest possible estimates, and the obligations are most. In other words, potential losses are taken into account, and not potential profits.
• fullness (Completeness) - in the reporting should be reflected all facts of economic activities for the reporting period
• comparability or comparability (comparability) of information should ensure comparability of data from financial statements, both with preceding periods and in relation to other companies. This means, it is necessary to disclose all changes in accounting policies in such a way that this requirement is performed.

International standards establish certain limitations associated with the main qualitative characteristics of information.

1. Criterion of timeliness (timeliness) is associated with the need for proper correlation of reliability and relevance of information. On the one hand, to meet the requirement of relevance, it is necessary to fully collect information on all the facts of economic activity. On the other hand, obtaining full and reliable information can lead to a delay in providing financial statements and, accordingly, affect the relevance of information. Therefore, it is recommended to find the optimal combination between these two requirements.
2. Balance Between Benefit and Cost means that the benefits of information should not exceed the cost of obtaining it, and the process of correlation and costs requires a professional assessment.
3. The ratio between quality characteristics (Balance Between Qualitative Characteristics) should be the subject of an accountant professional assessment and obey the task of meeting the needs of users of financial statements.

§ 4. Elements of financial statements

Elements of financial statements are economic categories that are associated with the provision of information on the financial condition of the enterprise and the results of its activities. 5 elements of financial statements are allocated.

1. Assets are funds or resources controlled by the enterprise and are the result of past events and the source of future economic benefits. Assets are reflected in the balance sheet, if there is a chance of future economic benefits and the value of assets can be measured reliably. When determining the asset, the ownership of it is not the main one. For example, rented property is an asset if the organization will control the benefits of its use.
2. Obligations - this is an existing debt to the reporting date, the repayment of which will lead to an outflow of the company's resources. Obligations are reflected in the balance sheet only when there is a possibility of future outflow of resources that embody economic benefits, as a result of the repayment of an existing obligation, and the value of such a repayment can be reliably measured.
3. Own capital is the remaining proportion of the company's assets after the deduction of all obligations. Own capital is the investment of owners and accumulated profits.
4. Revenues are an increase in the economic benefits of the enterprise for the reporting period, which leads to an expansion of assets and reduce obligations, the result of which is the growth of equity (excluding the contributions of the owners to the authorized capital). Income includes revenue obtained as a result of the main (statutory) and non-core activities of the enterprise.
5. Costs are a reduction in economic benefits, which is expressed in reducing or losing the value of assets or an increase in liabilities leading to a decrease in equity (excluding the withdrawal of owners from the authorized capital). When reflecting expenses, Matching Concept - costs are recognized in the reporting period only if they led to revenues of this period.

International standards assume various options for assessing asset assets and liabilities.

• Historical Cost: For assets, this is the cost of their acquisition, and for obligations - the amount obtained in exchange for an obligation. The initial cost is expressed in actual prices at the time of the transaction.
• Current Cost: For assets - these are funds to pay if they are purchased at the moment, for obligations - the amount that must be paid to repay the obligation at the moment.
• Realizable or Settlement Value: For assets, this is the amount of funds that can be obtained as a result of their sales, and for obligations it is the cost of their repayment under normal conditions of the enterprise.
• The given value (Present Value): For assets, this is a discounted value of future net inflows of funds in the context of the normal functioning of the enterprise, for obligations - the discounted value of future cash outflows in the repayment of obligations under the normal functioning of the enterprise.

Two more evaluation options can also be used. This is a market value (Market Value), i.e. The amount that can be obtained as a result of sales of assets in the market and "honest" cost (Fair Value), i.e. The value in which assets can be exchanged between awared and wishing to be done by the parties in the near future.

Chapter 4. Brief description of international standards

§ 1. Application of IFRS

International standards are widely used throughout the world. You can select several levels of their application:

• basis for accounting in many countries
• landmark for the development of own standards (most developed countries and the ever-growing number of developing countries and countries with economies in transition)
• stock Exchange and regulatory bodies obliging or allowing companies to provide consolidated financial statements in accordance with IFRS (among them almost all leading stock exchanges: New York Stock Exchange, NASDAQ, London, Tokyo and Frankfurt stock exchanges - only about 70 stock exchanges from 50 countries of the world)
• supportual organizations, for example, the European Union, who announced the support of IFRS and on the possibility of their use for companies climbing in international stock markets; Some organizations use IFRS in drawing up its reporting (European Bank for Reconstruction and Development, the International Organization of Securities Commission, International Olympic Committee, OECD, World Bank)
• the company themselves - according to the official information of KMFSO Currently, about 890 companies provide financial statements in accordance with IFRS, which is confirmed by the audit conclusion. Among them are such giants like Microsoft, Nestle, Allianz, Eni, Nokia, Air France, Renault, Deutsche Bank, Olivetti, Roche, Fiat, Volkswagen, Lufthansa, Adidas, etc. In Russia, over 20 companies are preparing reporting on international standards, among them RAO UES of Russia, RAO Gazprom, Transneft, MPS of Russia, LUKOIL, MDM Bank, Russian Credit, Rostelecom, " Red October, "et al. (The first four companies were prescribed to publish consolidated reporting in accordance with IFRS in accordance with the Special Order of the Government of the Russian Federation No. 968-p of July 17, 1998)

In recent years, international standards have become increasingly recognized. In 1998-1999 In Belgium, France, Germany, Italy, Austria, Russia and other countries, laws allowed to use IFRS to use IFRS. Similar bills in Finland, Denmark and the United Kingdom are now considered. IMF, World Bank, WTO and Ministers of Finance "Big Seven" were applied to support the activities of the CMSFO. An additional impetus for the adoption of IFRS can be the introduction of a single European currency and the creation of a pan-European capital market. On May 4, 1999, the 8 largest European stock exchanges (London, Frankfurt, Amsterdam, Parisian, Brussels, Madrid, Milan and Swiss) signed a Memorandum of Understanding, and on September 22 - an agreement on the possible model of the total European "blue chips" market. In the future, we can talk about creating the largest market in the world, and IFRS will be used as uniform financial statements.

Many financial institutions are already exercising lending to enterprises only when granting reported in IFRS. For example, providing a loan to the Russian enterprise, the European Bank for Reconstruction and Development (invested in the Russian economy about 3 billion dollars) requires:

• provide the EBRD certified annual financial statements prepared in accordance with IFRS
• maintain a certain level of financial coefficients calculated using IFRS data
• ensure adequate work of cost accounting systems, accounting and information management, reliably and accurately reflect the financial condition of the company and the results of its activities

Similar practices are adhered to the IMF and the World Bank.

Despite the increasing distribution of IFRS, a number of countries are not in a hurry to go to new standards. This is the United States, Canada and the United Kingdom. The American Accounting System (GAAP) is one of the world's leading. It occupies a strong position, first of all, thanks to the largest and developed market in the world, offering the most favorable conditions for attracting capital. Therefore, many foreign companies wishing to accommodate their securities in the US market go to considerable costs of transformation of reporting in accordance with GAAP. The Committee on Financial Accounting Standards (FASB) has repeatedly expressed that this organization should publish international standards for use in capital markets. At the same time, among the American market participants, there is no definite opinion on how profitable to the American market, even if the largest and more developed, to oppose the rest of the market for its financial statement system, thus creating the barriers in the form of foreign companies Additional transaction costs for reporting transformation in accordance with GAAP. According to the president of the European Federation of Financial Analysts and Consultant Consultant of the Government of the Russian Federation on the reform of the accounting reporting system, D. Damanta USA will switch to IFRS for five to seven years in contrast to other countries where this process will take three or four years. The United Kingdom also inclined in favor of IFRS. For example, the Prime Minister of Great Britain T. Blair spoke that "international financial statements standards are crucial for the UK." Currently, the Ministry of Commerce and Industry of Great Britain discusses the draft law, allowing companies to draw out reports in accordance with IFRS.

§ 2. International Financial Reporting Standards

The first standard was developed in 1974 and entered into force on next year. Until now, there were 40 standards (Table 1). Each standard includes the following items:

• an object of accounting - the definition of the object of accounting and the basic concepts associated with it
• recognition of the object of accounting - a description of the criteria for assigning accounting objects to various elements of reporting
• assessment of the object of accounting - recommendations for the use of assessment methods and requirements for evaluating various reporting elements
• reflection in financial statements - disclosure of information about the object of accounting in various forms of financial statements

	Name	Entry into force
	Representation of financial reporting		Revised in 1997, revision in force with 1.7.98, replaced IAS 5 and IAS 13
	Consolidated financial statements		Replaced with IAS 27 and IAS 28
	Depreciation		Partially replaced on IAS 16 and IAS 38
	Information to be disclosed in financial statements		Replaced with IAS 1
	Accounting and reporting in connection with price changes		Replaced with IAS 15
	Cash Movement Reports		Revised in 1992, revision in force with 1.1.94
	Net profit or loss for the period, fundamental errors and changes in accounting policies		Revised in 1993, editors in force with 1.1.95, partially replaced by IAS 35
	Costs for research and development		Replaced with IAS 38
	Conventional events and events that occurred after the reporting date		Revised in 1999., partially replaced by IAS 37
	Contract agreements		Revised in 1993, editors in force with 1.1.95
	Profit taxes		Revised in 1996, revision in force with 1.1.98
	Representation of reports on working capital and short-term liabilities		Replaced with IAS 1
	Segment reporting		Revised in 1997, revision in force with 1.7.98
	Information reflecting the influence of price changes		Minor changes have been made in 1989, replaced IAS 6
	Fixed assets		Revised in 1993, editors in force with 1.1.95
			Revised in 1997, revision in force with 1.1.99
			Revised in 1993, editors in force with 1.1.95
	Remuneration workers		Revised in 1998, revision in force with 1.1.99
	Government subsidies and disclosure of government assistance information
	Effect of currency changes		Revised in 1993, editors in force with 1.1.95
	Association of companies		Revised in 1998, revision in force with 1.7.99
	Costs of loans		Revised in 1993, editors in force with 1.1.95
	Disclosure of related parties
	Accounting investment		Partially replaced on IAS 39 and IAS 40, canceled IAS 40
	Accounting and reporting on pension programs (pension plans)
	Consolidated reporting		Corrected in accordance with IAS 39
	Accounting Investments in Associate Companies		Partially replaced on IAS 36 and IAS 39
	Financial statements in hyperinflation
	Disclosure of information in the financial statements of banks and similar financial institutions		Revised in 1998, revision in force with 1.1.01
	Financial reporting on participation in joint activities		Adjusted in accordance with IAS 36 and IAS 39
	Financial tools: disclosure and presentation of information		Revised in 1999, revision in force from 1.1.01
	Profit per share
	Intermediate financial reporting
	Terminated financial reporting
	Impairment of assets		Partially replaces the provisions of IAS 16 and IAS 22
	Reserves, conditional obligations and conditional assets
	Intangible assets		Replaced IAS 9.
	Financial instruments: recognition and power
	Investment property *		Annulled IAS 25.

* Note: This standard has not yet been officially translated into Russian

Source: "International Financial Reporting Standards", Moscow, "Ascery", 1999

Summarizing the advantages of IFRS, it can be said that for financial analysts and investors, this is a clearness, comparability, transparency, reliability, less expenses on the analysis of reporting; For companies - smaller costs of attracting capital, one accounting system, the lack of need to coordinate financial information, the sequence of internal and external accounting; For auditors - uniform principles of accounting, the possibility of participating in the adoption of standards, training on a global scale; For national standards developers - exchange of experience, the basis for national standards, greater confidence in national standards, convergence of standards; For developing countries - reduced costs of developing national standards, attracting investors.

§ 3. Interpretations of IFRS

Interpretations of the Standing Committee on Interpretations (PKI) is an important component of international standards. Interpretations are developed in the context of existing IFRS and the principles of their application; They clarify certain provisions of standards and regulate accounting issues where there are no relevant standards. When developing interpretations of PKI, consults with similar national committees of the KMSFO member states.

The DPKs dealt with the questions in a fairly widespread value, while interpretation can be divided into two categories:

1. top Questions (unsatisfactory practice within the framework of existing international standards)
2. new questions (new topics related to the existing standard, but not considered when developing it)

Currently, 17 interpretations are taken (Table 2)

	Name	Entry into force
	Sequence - various cost formulas for stocks
	Sequence - Capitalization of loans costs
	Elimination of unrealized profits and losses for operations with associated companies
	Classification of financial instruments - reserves for conditional repayment
	Costs for the modification of the available software		Principles of preparation and compilation of IFRS
	Introduction
	Application of IFRS for the first time as the main basis of accounting
	Companies - Classification as a purchase or interest of interest
	Government assistance - the lack of a specific connection with operating activities
	Currency exchange - capitalization of losses arising from serious devaluation of currency
	Consolidation - specialized companies
	Jointly controlled companies - non-monetary deposits from entrepreneurs
	Fixed assets - Impairment compensation or loss of objects
	Operating Rent - Incentives
	Share capital - newly acquired own equity instruments (treasury shares)
	Capital - Cost Transactions Cost
	Sequence - Alternative Methods

§ 4. Current CMFO projects

Usually on the agenda of the Board of the KMSFO there are 6-10 projects at the same time, including both the development of standards and interpretations and the revision of current standards. Currently, the MSFO draft №65 "Agriculture" is the most important. It is likely that at the end of 2000, according to the results of the consideration of this project, international standard No. 41 will be presented. Other Current CMFO Projects:

• Companies of companies (concerns the revision of some provisions of IFRS 22)
• Representation of financial statements on the Internet (research prospects for the application of new information technologies for the provision of financial information)
• Disclosure of financial information by banks and other financial institutions (affects the feasibility of the adjustment of IFRS 30)
• Accounting in countries with economies in transition (on the possibilities of developing special standards for this category of countries, for example, accounting for privatization, barter; use of special reservations)
• Accounting in the extractive industries (dedicated to the specifics of accounting in such industries as a mountainous, oil and gas industry)
• Financial Instruments (it is planned to develop a comprehensive standard with the participation of national authorities for the development of accounting standards from more than 10 countries)
• Accounting insurance (here the emphasis will be recorded for insurance contracts)
• Discounting
• Pension Programs (the project is associated with some features of legislation in countries with a high level of social deductions)
• Reporting of financial indicators (the prospects for making add-ons in IFRS 1)
• Taxation of dividends (affects issues not disclosed in IFRS 12 "income taxes")
• Transition Requirements (Ways to ensure consistency in the transition of companies in IFRS)

Analysis of current projects of the International Standards Committee is very important, since it allows for advance preparation in the development of national standards. No need to forget about the possibility of participating in the development of standards by making proposals and comments.

One of the key activities of the CMSFO in recent years is to cooperate with the International Organization of Securities Commissions (IOCSB), which unites more than 100 regulatory authorities in this area. In 1993, KMSFO and MOKSB concluded an agreement to create a basic set of standards (Core Standarts), which will be used in the preparation of financial statements for the needs of the stock exchanges. By that time, Mokzb announced the approval of IFRS 7 "Cash Flow Reports", and also pointed out that another 14 international standards do not require improvement. In 1995, the ICOCB Technical Committee said that at the end of the work on all standards included in the base set, it would recommend IFRS to use for the purpose of inclusion in the listings of all stock exchanges and international investment. To date, work on the formation of a basic set of standards from the ICMF has been completed and until June 2000 is expected to adopt the technical committee of the IOCSB.

Chapter 5. The main differences in Russian and international accounting standards

§ 1. Comparative analysis of Russian and international accounting standards

Principles of accounting. Despite the presence of a large similarity between accounting policies, the use of which is permitted in accordance with Russian and international accounting standards, the use of these options is often constructed on various fundamental principles, theories and purposes. The discrepancies between the Russian accounting system and IFRS lead to significant differences between the financial statements made in Russia and in Western countries. The main differences between the IFRS and the Russian accounting system are related to the historically determined difference in the use of financial information. Financial statements prepared in accordance with IFRS are used by investors, as well as other enterprises and financial institutions. Financial reporting, which was previously compiled in accordance with the Russian accounting system, was used by state administration and statistical authorities. Since these user groups had different interests and various information needs, the principles underlying the preparation of financial statements developed in various directions.

For example, one of the principles that are mandatory in IFRS, but not always used in the Russian accounting system, is the priority of content over the form of financial information. In accordance with IFRS, the content of operations or other events does not always correspond to what it seems on the basis of their legal or reflected in the formation of form. In accordance with the Russian accounting system, the transaction is most often taken into account strictly in accordance with their legal form, and do not reflect the economic essence of the operation. An example is when the form prevails on the content in the Russian accounting system, is the case of the lack of proper documentation for the write-off of fixed assets, which does not provide grounds for their write-off despite the fact that the management knows that such objects do not exist at the specified book value.

The second principle of international accounting standards, distinguishing them from the Russian accounting system, and leading to the emergence of multiple differences in the financial statements is the reflection of costs. International accounting standards are prescribed to follow the principle of conformity, according to which the costs are reflected in the period expected receipt of income, while in the Russian accounting system costs are recorded after the fulfillment of certain requirements for the documentation. The need to have adequate documentation often does not allow Russian enterprises to take into account all operations relating to a certain period. This difference leads to differences in the moment of accounting for these operations.

In Russia, the principles of accounting were formulated in the Federal Law "On Accounting" dated November 21, 1996 (in the form of accounting requirements), the Regulation on accounting "Accounting Policy of the enterprise" PBU 1/98 (in the form of requirements and assumptions) , as well as in the adopted concept of accounting in a market economy. However, there are difficulties with the implementation of extended principles in practice. Table 3 shows a comparative analysis of the conceptual foundations of accounting in international and Russian practice.

Tab 32 Principles of accounting in international practice and Russia

Principles of international standards	Russian legislation	Russian practice
The principle of accruals	The assumption is formulated in PBU 1/98 p. 2.2	Fully implemented
The principle of continuity of activity	PBU 1/98 p. 2.3	It is not fully implemented, there are simplified rules for creating and liquidation legal entities
Constability	Clearly not formulated
Relevance	Clearly not formulated	Emphasis is on compliance with legislation
Calcity	Not formulated, but in the instructions on the procedure for filling out the forms of annual accounting reports, the amount of 5% of the total result is significantly recognized
Reliability	FZ "On Accounting" Art. 1, p. 3 PBU 4/96 p. 3.3 PBU 1/98 p. 2.3	Reliability is understood as compliance with the rules of PBU 4/96
Truthful view	PBU 1/98 p. 2.4	Compliance requires regulatory documents
	PBU 1/98 p. 2.3	It is not fully respected, as the information is reflected in accordance with the requirements of regulatory docks
Neutrality	Not formulated	In the preparation of financial statements, the interests of fiscal bodies dominate
Carefulness	PBU 1/98 p. 2.3	Used not in full - the accountant does not have the right to use professional estimates, and potential losses are not reflected until the moment when they are not incurred
	PBU 1/98 p. 2.3
Comparability	PBU 1/98 p. 2.2 Instructions on the procedure for filling out the forms of annual accounting reporting	In the conditions of an unfavorable economic situation and constant changes in legislation, information cannot be considered comparable
	Assets are defined as economic funds, the control over which the organization received in the past and that should be beneficial in the future	Concepts do not coincide, until recently, losses included asset
Obligations	Obligations - this is the arrears of the organization that exists at the reporting date, which are a consequence of the accomplished facts and the calculation of which will result in the outflow of assets	Obligations are interpreted as sources of funds
	Capital value is calculated as the difference between assets and liabilities and includes attachments of owners and accumulated profits.	Capital is interpreted as a source of funds and is traditionally included in the liabilities.
	The wording coincides
	The wording coincides	Concepts do not coincide, regulated by regulatory documents.

Financial statements. Table 4 shows a comparison of the composition of the financial statements that organizations should be provided.

Tab 4 Disclosure of financial information under IFRS and Russian legislation.

IFRS	Russian legislation
Balance sheet	Balance (shape number 1)
Gains and losses report	Profit and Loss Statement (Form No. 2)
Capital Movement Report	Report on Capital Changes (Form No. 3)
Cash Movement Report	Report on cash flow (Form No. 4)
Accounting Policy and Explanatory Notes	Annex to the Accounting Balance (Form No. 5)
	Report on the target use of the funds received (form No. 6)
	Audit report confirming the accuracy of accounting reports if it is subject to compulsory audit

As can be seen, there are no significant differences in the composition of the financial statements in IFRS and in the Russian rules.

Balance article.International standards do not provide any standard form of balance and only the range of required balance sheet items is determined: fixed assets, intangible assets, financial assets, investments, stocks, trade and other receivables, cash and their equivalents, debt of buyers and customers, tax liabilities, Reserves, long-term commitments that include interest payments, minority share and capital issued and reserves. In Russia, the balance form is fixed by law. There are some differences in the disclosure of the balance sheet items.

Key differences in respect of fixed assets concern depreciation. In Russian practice, the timing of fixed assets is established by the Ministry of Finance, whereas in accordance with international accounting standards, the management of the company is allowed to independently determine the service life of fixed assets, depending on whether the enterprise suggests them within a period of time. The difference in the service life leads to discrepancies in the value of the residual value of assets, as well as in depreciation amounts accrued for a certain period presented in accordance with the Russian accounting system and IFRS. In accordance with PBU 6/97 "Accounting of fixed assets", depreciation can be carried out one of the four methods of depreciation: a linear method, a method of reduced residue, by the sum of the number of years of useful use, proportional to the volume of products (works). In IFRS 4 "Accounting Depreciation", three methods are provided: a straight-line, reduced residue and the amount of the amount of units. However, in practice, Russian tax authorities recognize only a linear way that does not correspond to IFRS.

In relation to the accounting of intangible assets there are features in terms of assets created by the enterprise itself and the useful deadlines of the service of intangible assets. In the Russian accounting system, the assets created by the enterprise itself, such as the cost of their own created software or "know-how" can be reflected as intangible. According to IFRS, the assets created by the Enterprise itself must satisfy the following criteria: the asset should be potentially beneficial in economic terms, and the value of the asset must be reliably determined. In addition, the composition of capitalized costs for the production of research and development works in the international and Russian accounting system, as in IFRS there are special conditions for capitalization of R & D costs.

Research work - original and planned studies conducted in order to obtain new scientific or special knowledge. Experienced work - Application of research results or other knowledge when developing a plan or project production of new or substantially improved materials, devices, products, technologies, systems or services, before the start of industrial production or use. According to IFRS, the costs of research and development work must be reflected in accounting as the expenses of the period during which they were incurred, except in cases where the following conditions are followed (in such cases they must be taken into account as assets):

• "The product or process is clearly defined, and the costs attributed to the product or process can be separately installed and are reliably measured;
• the technical feasibility of the product or process can be demonstrated;
• the company intends to produce, sell or use a product or process;
• the presence of a market for a product or process can be demonstrated, or if it is designed rather for internal use, and not for sale, its usefulness for the company; and
• there are sufficient resources, or their availability can be demonstrated to complete the project, selling or using the product or process. "

The costs of conducting development work on the project, reflected in accounting as assets, should not exceed the amount of the estimated economic benefits minus the upcoming costs of such work, relevant production costs, as well as commercial and general expenses directly related to product sales.

The amount of the cost of experimental design works reflected in accounting as assets is subject to depreciation and debiting on the expenses by the method that meets the accounting of economic benefits. Technological and economic obsolescence of such assets leads to a reduction in their lifetime. In addition, it is usually difficult to predict costs and income on new products for a longer period. Due to these reasons, the depreciation period of the costs of experimental design work, as a rule, does not exceed 5 years. The write-off of the costs of experimental design work on the project should be made in the period when the estimated economic benefit is expected to no longer cover the amount of such costs less depreciation.

According to the Russian accounting system, as a rule, the cost of conducting R & D is reflected as intangible assets. Consequently, when preparing financial statements in IFRS format, it is necessary to write off the costs of the costs of the relevant period that do not fall under the definition of the costs of research and development work in accordance with IFRS.

Also in Russian legislation, there are no clearly prescribed procedures for taking into account the associations of companies (purchasing and merging interests) and the reflection of a positive or negative business reputation (Goodwill), which occurs.

You can distinguish a number of differences when taking into account material and stockpiles. Inventory accounting is governed by IFRS 2 "Reserves" and PBU 5/98 "accounting of material and production reserves." Under IFRS stocks are assets, and Russian practice is part of the property. Interestingly, in international practice there is no concept of low-value and spending items (IBS) and material values \u200b\u200bintended to participate in the production period of more than one production cycle relate to fixed assets, regardless of their value. In the Russian accounting "low-value and highly-free objects - part of the material's material production reserves, used as a means of labor for no more than 12 months or an ordinary operational cycle, if it exceeds 12 months, or having a cost at the date of acquisition below the limit approved by the organization within Not more than 100 times (for budgetary institutions - 50x) minimum wages established by the legislation of the Russian Federation. " Therefore, the part of the property, which falls under the definition of IBS, will be taken into account as part of fixed assets, and in Russian practice - as part of material and production reserves. Consequently, various assessment methods will be applied to this part of property, accounting for assets, and in the preparation of financial statements, this property will be reflected in various balance sheet articles. Differences should be noted when determining the method of assessing stocks. PBU 5/98 prescribes to evaluate the MPZ at actual cost. And at the end of the reporting period, material and production reserves should be overestimated: "material and production reserves (except for equipment for installing and low-value and spending items), for which the price has decreased during the year, or which are morally outdated or partially lost their quality, reflected in the balance sheet At the price of possible implementation, if it is below the initial value of the preparation (acquisition), with the calculation of the difference in prices for the financial results of the organization. Based on this definition, it is not somewhat clear how stocks should be estimated, the price of the possible implementation of which in the same reporting period was lower than the actual cost, and in the next reporting period increased above the actual cost. In order to objectively assess the company's assets, it would be more correct to overestimate material and production reserves at the end of the second reporting period at the actual cost, but PBU 5/98 does not give a clear answer if it is possible to do this. In accordance with IFRS 2, stocks should be assessed by the smallest of two quantities: cost and possible net sales prices. Further, when entering the same types of material and inventory with different actual costs, it becomes possible to use several methods for calculating the current cost of reserves. The cost of material and industrial reserves (except for goods in trade adopted for registration in prior prices and the IBS) on Russian legislation can be carried out in the following ways:

• at the cost of each unit;
• average cost;
• at the cost of the first time for the acquisition of the MPZ (FIFO method);
• at the cost of the last time of the acquisition of the MPZ (Lifelo method).

Unlike Russia, the International Practice adopted the FIFO method. This method is recommended as the main to calculate the cost of stocks (with the exception of used in a special order), although the Lifel method can also be used if it uses it to obtain a more objective assessment of assets. The method for calculating the average cost in international accounting standards is not provided.

Thus, in general, the principles of taking into account material and inventories in Russian practice and IFRMS are very close. PBU 5/98 is generally based on international standards, but not fully, because in this position some features of the national system of contractivation are preserved. For greater compliance with international standards, it is necessary to adopt a number of guidelines for clarification of PBU 5/98.

Investments can be attributed to short-term or long-term. Current investments in nature are easily implemented and designed for a period of no more than one year. Long-term investments are investments designed for more than one year. Russian system Accounting requires that both current and long-term investments are presented in the balance sheet at the cost of their acquisition. In contrast, international accounting standards are allowed to take into account long-term investments depending on their nature:

• at cost (i.e., including the costs of acquisition, such as brokerage and bank commission fees, fees, duties)
• at revalued cost
• at a smaller of two values: cost and market value

In accordance with international accounting standards, short-term investments may be reflected in the balance sheet price or at a lower cost and market value (i.e. the amounts that will be obtained as a result of the sale of investments on stock market). The profit (loss) arising from such an assessment should be reflected in the income statement.

In the event of a decrease in the cost of long-term investment, which is not estimated to be short-lived, its carrying price is reduced. Such a decrease in the cost of long-term investments, with the exception of a temporary decline, is reflected in the income statement. The increase in the carrying amount of long-term investments arising from the revaluation of long-term investments should be attributed to the account of the account of changes in the value of investment as a result of the revaluation in the share capital section. To the extent that the decline in the cost of investment compensates for the previous increase in the cost of the same investment, which was attributed to the credit of the account of the value of the cost of investment as a result of the revaluation and later was not reversed, this decline is taken into account in the account of changes in the cost of investment as a result of the revaluation. In all other cases, the reduction in the book value should be reflected as a consumption.

It is important to note a number of differences when taking into account receivables. Despite the fact that in accordance with both the Russian accounting system and IFRS, accounting should be conducted at the time of shipment, the requirement for keeping accounting for shipment is new in the Russian accounting system. Therefore, enterprises to comply with the new requirement it is necessary to change their accounting systems.

In addition, in accordance with international standards, with respect to any receivables, the recovery of which is considered doubtful, reserves are created (provisions for doubtful debts). Such reserves should be related to the account of profits and losses. At the same time, the Russian accounting system requires that hopeless debt is specifically defined, and so that receivables for more than 4 months, according to which the repayment has not begun, was written off. In practice, when drawing up the reports by Russian enterprises under IFRS, the reserve for doubtful debts is a very significant percentage and significantly reduces profit indicators.

Account plan. In contrast to Russian practice, international standards do not regulate the plan of accounts. The structure of the Russian accounts plan was developed more than 50 years ago and, despite the changes, the changes lost relevance. Currently, working on a new Russian account plan, which, according to forecasts, should be completed in 2001. You can highlight a number of differences between Russian and Western practices: all accounts in IFRS are either active or passive (i.e. there is no analogue with Russian actively passive Accounts, such as, for example, the account 76 "Calculations with other debtors and creditors"), several IFRS accounts may correspond to one Russian account, and on the contrary, in terms of IFRS accounts, the balance sheet accounts (in order of increasing liquidity), then profit and loss accounts .

Gains and losses report. International accounting standards are prescribed to follow the principle of conformity, according to which costs are reflected in the period expected receipt of income, and in the Russian accounting system, costs are recorded after the fulfillment of certain requirements for the preparation of documentation. The requirement for the availability of proper documentation often does not allow Russian enterprises to take into account all operations relating to a certain period. The fundamental principle of IFRS, which consists in the fact that the content of financial statements is more important than the form of reporting or its extraction, is in contradiction with the Regulations on the need to have sufficient documentation to reflect the operation. The difference in the periods of accounting for operations in respect of which there is no sufficient documentation in accordance with the Russian accounting system leads to numerous discrepancies between IFRS and the Russian accounting system in the income statement.

One of the essential differences in the approach to the report on profit and loss in Russia and international practice was eliminated during the reform. As you know, until recently, it was possible to take the time of payment for products or the moment of its shipment, and the overwhelming majority of enterprises used the first, so-called "cash register" of the accounting method. From January 1, 1996, in accounting, the moment of product sales is determined, as a rule, only at the time of shipment, as in Western practice. However, for tax purposes, you can use both options for determining the moment of implementation.

Profit tax is reflected in the statement of profit and loss of IFRS format after calculating the profits and losses from all the economic activity. This provision coincides with the requirements of the new form of the Russian report on financial results and their use, except that many expenses taken into account when calculating the financial result before tax in accordance with IFRS are considered in the Russian accounting system as a profit. The use of profits includes costs that do not reduce taxable profits in accordance with the requirements of the Russian accounting system.

Another distinction between the new Russian form of a report on financial results and a report on the profits and losses of the IFRS format is the classification of general expenses and depreciation. Despite the fact that in the new Russian form, general expenses are presented with a separate line, in the past these costs were included in production costs. Therefore, companies will need to make changes in the cost of the cost of realized products.

In addition, depreciation should be reflected in the profit and loss statement, while in accordance with the Russian classification of expenses, the reflection of the depreciation is not provided.

Some differences in the cost of the products sold should also be allocated.

• Cost of the reporting period - In accordance with IFRS, commercial expenses and, in general, the general costs (depreciation of management buildings, the costs of the content of the management apparatus, subsidiary services) are not considered directly related to the acquisition and production of goods, and therefore are not included in the cost of production. In accordance with the Russian accounting system, commercial expenses and general expenses are included in the cost of realized products. Therefore, for example, the posting on the write-off of general expenses for the cost of production (debit 20 - loan 26) is not entirely correct, and it is necessary to make correction records.
• Production cost and improved production - In accordance with IFRS, the production cost includes expenses directly related to the delivery of goods to the buyer, the cost of selling commodity products, the cost of transporting purchased goods, labor costs and other production costs incurred in the process of processing goods until the moment of sale. In addition to production costs, all the costs of processing should be included in the cost of production, which are necessary for the locality and in these conditions. The cost of acquisition includes import duties, the cost of transportation and delivery and any other direct costs for the acquisition costs, with the exception of trading discounts. Processing costs include:
  1. the costs attributable to specific units of production, for example, direct labor costs on the basis of the accrual method, direct costs for work transferred to subcontractors
  2. production costs, including materials evaluated by the net value of implementation,
  3. other general production costs, if there are those related to product delivery and product recycling.

In accordance with Russian accounting standards, only expenses accounted for in taxation are included in the cost of sales. Therefore, expenses that do not reduce taxable profits include 81 "use of profits" account and are excluded from the cost of implementation.

Expenses for payment of interest on outstanding debt and income tax are not included in the cost of production. For international reporting purposes, interest payments are taken into account in determining the financial result before tax and are reflected in the same way as income on non-deactive operations, costs for non-deactive operations and profits or losses from exchange rate differences. All these articles are indicated in the company's income before tax. At the same time, they are considered as not related to the company's main activity and, thus, are indicated after the financial result from the main activity. In accordance with the new form of the Russian report on financial results, the cost of payment of interest is included in the financial result from the main activity, and the profit / loss from the course difference is reflected in the reporting as other income and expenses. Table 5 shows a comparative analysis of the articles of profit and loss to loss (aspi) in Russian and international practice.

Table. 5 Differences in the form of asses in Russian practice and IFRS.

Strings		Russian accounting
Revenue (net) from the sale of goods, products, works, services
Cost of sales of goods, products, works, services	Do not turn on
Commercial expenses	Do not turn on
Management expenses	Do not turn on
		Do not turn on
Interest to getting
Percentage to be paid
Investment income (from participation in other organizations)
Other operating income and expenses	Do not turn on
Other non-revenue income and expenses	Do not turn on
Profit Tax
Unforeseen (emergency) income and expenses
Basic intrafirmen calculations		Does not stand out
Minority share		Does not stand out
Net profit / loss of the reporting period

Sources: IFRS 5 "Information to be disclosed in financial statements"; Status of accounting reports of PBU 4/96, approved by the order of the Ministry of Finance of February 8, 1996 No. 10; Order of the Ministry of Finance of January 13, 2000 No. 4N "On the forms of accounting reports of enterprises"

Large theoretical and practical interest is caused by Barter's accounting. IN russian economy Barter plays a much more important role, rather than international scales. (For example, the financial revolution in RAO "UES of Russia" in 1999 was recognized that the company managed to collect 49% of the living money in the total amount of payments compared with 19% in 1998) in accordance with IFRS if goods or services exchange On other homogeneous and similar products or services, such a transaction is not recognized by the implementation. Such a situation occurs when suppliers exchange goods by moving them between different regions in order to respond to local changes in demand in a timely manner. In cases where heterogeneous goods exchange, for example, trucks exchange for steel rolled steel, IFRS determines such transactions as income transactions. In the Russian accounting system, barter operations are always considered as sales. Consequently, when exchanging goods to similar goods, such transactions should be excluded from the implementation determined by international standards.

Thus, between Russian and international standards there is a very large number of differences both in principle and less significant. To assess the scale of such discrepancies, it is necessary to compare 2 sets of consolidated reporting in 1998, prepared by RAO Gazprom. One of them was compiled in accordance with Russian legislation, and the other in accordance with IFRS. It turned out that the discrepancy in the indicator of net profit was more than 100 billion rubles - 42.49 billion rubles a net loss on the Russian rules of accounting and 147.22 billion under IFRS. The discrepancy in determining reserves (with the exception of the reserve for doubtful debts) was 45.4 billion rubles, and in relation to the reserve for doubtful debts - 20.6 billion rubles. The amount that according to Russian rules applies to capital, and in accordance with IFRS is expenses, reaches 29.5 billion rubles. The amount of income on monetary articles, which is not recognized in accordance with Russian accounting and is recognized in accordance with IFRS, is 62.9 billion rubles. There are other no less significant differences.

Therefore, at this stage of reforming the accounting system should be consistently smoothing inconsistencies, which will contribute to the more successful promotion of Russian companies in capital markets. At the same time, speaking of reform it is necessary to emphasize that automatic, without any changes, the adoption of IFRS is impossible. After all, in essence, international standards are a compromise between the leading accounting systems in the world. It is impossible to deny the fact that in Russia a lot of useful experience has already been accumulated, an accounting system has developed. For example, according to A. Bakayev, the head of the department of accounting and reporting methodology and reporting of the Ministry of Finance of Russia "Our account plan is one of the most unique documents in world accounting practice." Therefore, when using international financial statements standards for creating a new national accounting system, international experience should be adapted to the Russian specifics.

§ 2. Problems of transformation of Russian reporting in accordance with IFRS

The transformation of financial statements in accordance with the requirements of IFRS is becoming increasingly relevant. However, it should be noted that the unified methodology for transformation of reporting does not exist. According to experts, reporting in accordance with IFRS can be obtained by 3 ways: the method of transformation of reporting, the method of broadcasting the wiring and the method of parallel accounting.

The first two methods are the simplest, however, they can give an error from 10% to 50%. As a rule, they are based on the construction of special transformation tables. For example, in the preparation of the consolidated statements of RAO "UES of Russia" in 1998, 28 such tables were developed. There are five main transformation tables:

• summary table of ruble corrective (transformation, correctional) postings
• currency Corrective Correction Table
• summary Table of Balance Transformation
• summary table of correction wiring for rearrangement of profit and loss items
• summary Table of Profit and Loss Transformation Table

All tables are interrelated and allow us to result in a transformed profit and loss statement and balance. In addition to the disadvantages of such a technique, in addition to possible errors, it should be obtained that the information prepared under IFRS can only be obtained at the end of the period, and after the completion of the main transformation process, you have to make adjustments.

• Parallel accounting (otherwise it is called the method of dual accounting of accounting) is maintained using special software. To maintain parallel accounting, the system uses two bills plan: Russian and international. When setting up typical operations, both Russian and international wiring templates are written. The entered operations are automatically separated by various modules, which gives maximum details of the information. At the same time, it is necessary to take into account a number of features with an automated transformation of accounting reporting.
• various degree of detail of Russian and international account plans
• various methods and depreciation rates of fixed assets and IBS (according to IFRS MBP can be fully referred to expenses at the time of purchase, and on Russian standards - amortized during commissioning)
• features of documentary recognition of debt and cash (for example, according to Russian cash account standards are updated on the basis of bank statement, and IFRS on the basis of payment orders)
• setting operations when conducting accounting in two currencies

Since the list of differences between Russian accounting and IFRS associated with the transformation of accounting reports remains still significant, this problem requires special attention from the wide range of accountants and consultants.

Chapter 6. Accounting Reform in Russia

§ 1. Legal base of reforms.

The legislative framework in the field of reforming the Russian accounting system is the state program for the transition of the Russian Federation to the system of accounting and statistics adopted in international practice, in accordance with the requirements of the market economy developed in accordance with the Chairman of the Supreme Soviet of the Russian Federation of January 14, 1992. Since the issue of transition At the IFRS, then did not yet stand on the agenda, the main task of restructuring of accounting and bank accounting was proclaimed "Development and implementation into the practice of enterprises of a special plan of accounts, which will allow:

give a summary characteristic of the presence and movement of the main and working capital, material assets, long-term investments, funds and reserves of the enterprise;

collect in generalized information about the costs of an enterprise related to the implementation of statutory activities and socio-domestic service of employees;

reflect the availability and movement of cash in the national and foreign currency in the calculated, currency and other accounts in banks in the country and abroad, securities;

to summarize information on the formation and use of financial results of the enterprise and the state of funds received from the outside to finance economic activities (bank loans, other funds funding for targeted events) and others. "

An accounting account plan was developed with the participation of the Group of Experts of the USSR Ministry of Finance and the United Nations Center for Transnational Companies and approved by the Order of the USSR Ministry of Finance No. 56 of November 1, 1991 (the billing plan and instructions for its use were enacted from January 1, 1992. ) This account plan and the accounting report, introduced also in 1992, proceeded by their accounting of capital in organizations separated in property and organizational relations from other organizations of their owners. It was assumed that accounting was conducted at the enterprise, which does not imply discontinue its activities in the foreseeable future. Thus, the main principles of the isolation, continuity of the activities of the enterprise and consistency adopted in international practice were implemented.

It should be noted that as a guideline to reform the Russian accounting, preference was initially given to the American GAAP system. However, GAAP is at its essence weakly systematized and constantly changing the interpretation of the principles and rules of accounting and methods for calculating the profit, reflecting only American specifics. (For example, since its inception of 1973, the Council on Financial Accounting Standards has issued more than 100 accounts on accounting, of which 10% is associated with the solution of conceptual problems of financial accounting, 10% - with solving specific sectors of problems, and the rest The same 80% comes to revise previously accepted standards). In other words, GAAP is a system of accounting, which develops an evolutionary way and adapt to it inexpedient. Therefore, IFRS based on the same conceptual principles, but who are less detailed and cheaper to implement, represent the optimal basis for reforming accounting. According to M. Zadornov, "there was a struggle between the European Union and American government and professional representatives for which the system of Russia and a number of Union republics will take, however, due to a certain orientation of Russian legislation on financial statements on European economic law (primarily German and French) Russia made a choice in favor of IFRS.

Since 1993, the balance, and since 1996, all reports began to be drawn up in net indicators, as adopted by international standards. Within the framework of the above state program, the Order of the Ministry of Finance No. 100 of July 28, 1994 approved the first status of accounting of the "Account Policy" (PBU 1/94). With his adoption, the application of international principles in Russian accounting was significantly expanded, in particular, the sequence of applying accounting policies, the completeness of the reflection of all facts of economic activity, the requirement of diligence, the priority of the content before the form, consistency and rationality of accounting.

On November 21, 1996, the main regulatory act on accounting was adopted - the Federal Law "On Accounting". In accordance with paragraph 1 of Art. 5 The general methodological management of accounting is entrusted to the Government of the Russian Federation. The law establishes that the authorities who are given the right to regulate accounting, have the right to argue the documents of the three levels:

1. accounting accounts and instructions for their use
2. provisions (standards) on accounting, establishing principles, rules and ways of conducting organizations accounting for economic operations, drawing up and providing accounting reports
3. other regulations and methodological instructions on accounting issues. "

It should be noted that the provisions (standards) of accounting are regulatory acts, and not standards approved by professional associations accountants, as is understood in international practice. Also, the order of the Ministry of Finance No. 10 of February 12, 1996, another important regulatory act in the field of accounting reform was approved - the Regulation on the accounting report of the company (PBU 4/96).

Another document reflecting the changes in the accounting system is the concept of accounting in a market economy of Russia, approved by the Methodological Council on Accounting for the Ministry of Finance and the Presidential Council of the Institute of Professional Accountants of Russia on December 29, 1997. It has been formulated by the accounting of accounting professionals to the following issues:

• the purpose of accounting
• basics of accounting organization
• content and requirements for information generated in accounting
• the composition of information generated in accounting for external users
• criteria for the recognition of assets, obligations, income, expenses and their assessment

The concept of IFRS's conceptual principles were based on the concept. In fact, it outlines the main tasks for the reorganization of Russian accounting.

The decree of the President of the Russian Federation dated April 3, 1997 No. 278 of the President of the Russian Federation of April 3, 1997 was the impetus for the practical implementation of efforts on accounting reform No. 278 "On the priorities for the implementation of the Presidential Message of the Federal Assembly of the Federal Assembly" Order In order to power - order in the country (about the provisions in the country and the main areas of policy ) ". After almost a year, on March 6, 1998, after a long and intensive work, the Government Decree No. 283 was approved Accounting Reform Program in accordance with International Financial Reporting Standards - Legal basis of accounting reform. It was recognized that the process of reforming the domestic accounting system lags behind the overall process of economic reforms in Russia. The purpose of reforming is called "bringing the National Accounting System in accordance with the requirements of the economy and international standards of financial statements", and the tasks of reform are to:

• "To form a system of accounting standards and reporting providing
• useful information of users, first of all, investors;
• ensure the linking of accounting reform in Russia with the main trends in the harmonization of standards internationally;
• to provide methodological assistance to organizations in understanding and implementing a reformed model of accounting. "

3 main directions of reform can be distinguished:

1. regulatory and methodological support of the reform - during 2 it was assumed to develop new and revise previously approved accounting provisions, which would include the bulk of the requirements of IFRS
2. reorganization of the account management system - It is assumed to increase the role of professional organizations in the development of the methodological support of the accounting organization (primarily the Institute of Professional Accountants, established in 1997)
3. preparation and retraining of personnel - since any reform should begin with people, then this direction is the most important component of the reorganization of accounting (according to some estimates, about 3 million accountants will be retracted)

In the development of the program, the Government issued a decree No. 382-p of March 21, 1998, in which the general methodological management of accounting in the Russian Federation was entrusted to the Ministry of Finance (with the exception of credit institutions for which methodological management is carried out by the Central Bank of the Russian Federation).

Order of the Government of the Russian Federation of May 22, 1998 No. 587-p was approved by the plan for the implementation of the provisions (standards) on accounting. In 1998-1999 It was assumed to develop 22 standards classified by 3 groups:

• general information disclosure issues
• assets and commitments of the organization
• financial results of the organization

Speaking about the results of the implementation of this order, it should be noted that it is not completely fulfilled - only 12 provisions are taken at the moment (Table 6). At the same time, instead of a row of PBU, the Ministry of Finance suggests guidelines.

Table 6 Accounting Provisions (in the Last Editor)

	Name	Order of the Ministry of Finance	Date of order	Entry into force	Relevant international standard
	Accounting policy of the organization
	Accounting contracts (contracts) for capital construction
	Accounting of property and obligations of the organization, the cost of which is expressed in foreign currency
	Accounting reports include			starting with accounting reports 2000
	Accounting of material and stockpiles
	Accounting of fixed assets
	Events after the reporting date
	Conditional facts of economic activity
	Revenues of the organization
	Expenditures of the organization
	Information on affiliated persons			starting with accounting reports 2000
	Information on segments			starting with accounting reports 2000

Among other regulatory acts that form a legal framework for reforming should be noted:

• The Regulation on accounting and accounting reports in the Russian Federation, approved by the order of the Ministry of Finance from July 29, 1998 No. 34N - in it, the requirements for maintaining accounting, drawing up registers, the rules for assessing property and obligations, the preparation and provision of obligations are set out.
• Methodical instructions on accounting of fixed assets (Order of the Ministry of Finance of 20.07.98 No. 33N) - disclose the rules and methods of conducting accounting of fixed assets contained in PBU 6/98 in the methodological and practical aspects.
• Indications on the reflection in accounting of operations related to the implementation of a trust management agreement and a simple partnership agreement (the order of the Ministry of Finance from 24.12.98 No. 68n) - anticipate the development of the relevant provision (standard) on the trust management of property.
• Typical recommendations on the organization of accounting for small business entities (Order of the Ministry of Finance on 21.12.98 No. 64n) - they reflect the changes that occurred in the accounting methodology for these categories of entrepreneurship and provides for a simplified accounting system.
• Order of the Ministry of Finance dated 13.01.2000 № 4N "On the forms of accounting reporting of organizations"

Thus, for several years, a rather solid legislative framework was created, which constitutes the legal registration of reform. It is very important that the improvement of legislation does not stop, and work to eliminate "white spots" continued.

§ 2. The first results of the transition of Russia for international financial reporting standards

The accounting program for accounting in accordance with IFRS was established a wide range of activities for its practical implementation, starting with the development of a regulatory framework and measures to improve the qualifications of accounting specialists and ending with the organization of international cooperation. In February 1998, an International Center for Accounting Reform (ICRBU) was opened. This non-governmental non-commercial organization coordinates the provision of international technical assistance for a special interdepartmental commission on the reform of accounting and financial statements compiled from representatives of the Ministry of Finance, the Central Bank, the Federal Commission on Securities, the State Service, State Statistics Committee and other departments. The ICRBU performs the role of a binder between the International Standards Committee and Russian professional organizations and regulatory authorities. The creation of this center was noted at the highest level when the US-Russian Communications Commission for Economic and Technical Cooperation (Mountain Chernomyrdin Commission) welcomed the creation of MCRBU, and the US International Development Agency and the American Chamber of Defense allocated a grant of 1 million dollars to finance the work of MCRBU .

The edition of the official translation of IFRS into Russian and the list of major terms of international standards should be allocated. Earlier, IFRS were officially translated only into German. On November 2, 1998, a presentation of the Russian publication of international standards prepared with the participation of a wide range of CMFO experts and Russian specialists was held. The presentation was carried out within the framework of the practical conference "Language of Money" dedicated to IFRS, and in which representatives of the authorities at the federal and regional level participated, representatives of professional associations of accountants and auditors, financial analysts, business representatives, staff of state and industry regulatory authorities, and Also international structures. The conference also performed representatives from other CIS countries.

The Institute of Professional Accountants with the participation of specialists of the Ministry of Finance has developed a provision on the certification of a professional accountant and the procedure for holding qualifying exams on the certificate of professional accountant, approved by the Interdepartmental Commission on the reform of accounting and financial statements. The certification of professional accountants is conducted by the Institute of Professional Accountants since 1996, and as of June 1, 1999 over 14 thousand accountants were held. The aim of these documents is confirmed by the accounting community of the professional level of its representatives, as is customary in most developed countries (as an example, the well-known international certificates of Certified Public Accountant, CPA and The Association Certified Certified Accountants, ACCA can be brought. Also, the Institute has developed a Code of Professional Ethics of the Professional Accountant. Thus, certain successes have been achieved in the direction of personnel support of the reform. At the same time, it should be noted that there is a significant lag in the development of learning programs and retraining of accounting frames. As a rule, accountants practice badly imagine the essence of the changes occurring. This means that there is a need to more actively involve wide circles of accountants in the discussion of the documents being developed, as well as assist when defending their professional interests.

§ 3. Problems of reform

The transition to international financial statements cannot be considered as the only purpose of reforming. In fact, the reform should be much deeper and consisted in building an effective superstructure over the new type of economic relations in Russia. As a result, an environment must be created that ensures the formation of useful and objective information on the financial situation and the results of the company's activities. The impossibility of transition to IFRS "in one day" is due to the need to implement a whole complex of interrelated activities. Therefore, it is natural that numerous difficulties will arise in the reform process. You can highlight a number of difficulties that prevent reform.

• An unfavorable economic situation - international standards are calculated on the functioning of the normal economic environment, which does not fully meet the current situation in the economy. Special concern causes the crisis of non-payment and lack of "living" money in the economy. Insufficient legislative framework - for example, due to the lack of the following laws, it is not possible to make a number of accounting provisions:
• according to intangible assets (the third part of the Civil Code of the Russian Federation)
• by tax calculations (second part of the Tax Code)
• on the reorganization of enterprises (FZ "about unitary enterprises")
• The constant update of IFRS - in the past few years, IFRS undergo serious conceptual changes and essentially represent something like a "moving target", to get into which is the task, nozzles even for a very experienced arrow. On the one hand, it is necessary to adapt the new terms of IFRS in a timely manner into Russian legal terminology. On the other hand, in order to avoid moral obsolescence of domestic standards, in the process of their development of the Ministry of Finance, it is necessary to track all current projects and the development of the CMSFO in parallel.
• The need to lower in some cases of the status of the document being developed - for example, instead of the Principal Office of the Ministry of Finance issued instructions on reflection in the accounting of operations related to the implementation of the Trust Property Management Treaty and a simple partnership agreement, i.e. Instead of the second level, a document of the third level of the regulatory system of accounting was adopted. The same happened in relation to the position of "profit per share".
• The orientation of accounting on the requirements of tax authorities remains one of the main obstacles to reform. Often, the leaders of the enterprises fear that as a result of the introduction of IFRS and the transition to the maximum transparent financial statements, they will not have a reserve for taxation from taxation. According to the Minister of Taxes and Claims of the Russian Federation A. Pochinka, "you need to finally dilute accounting and tax reporting. Let the enterprises make tax reporting on the basis of tax laws, and exclusively for tax purposes, and accounting accounting is carried out exclusively in their own interests. Then there will be no dualism of accounting and the possibility of a deep comprehensive analysis of the activities of the enterprise itself will appear. "
• The lack of industry instructions on the application of new accounting rules - this difficult moment is associated with the disadvantages of the international standards themselves, which include the generalized character of IFRS and the absence of detailed interpretations and specific examples of application of standards for specific situations. The PBU also provides only a general description of the methods of accounting for certain operations, and the former practice, when the Allied ministries and departments have been developed on the basis of the rules of the Ministry of Finance, sectoral instructions are missing. This gap should be replenished by the Institute of Professional Accountants and other associations of accountants and auditors.

Thus, there is still a lot to do so that Russia is fully transferred to the international practice of accounting. It is important that the need for the transition is conscious of both the authorities and the business and the accounting community. In this context, it is possible to positively appreciate the words M. Zadornov, "in the field of structural reforms, the transition to IFRS The Russian government considers priority for itself - it is not by chance that the reform of the accounting system and development is fixed in our plan to introduce structural measures and in a joint statement with the IMF" .

Conclusion

In conclusion, it is important to note that in the event of a complete transition of Russia at IFRS, it should not be expected that foreign investment by the river is hung to Russia. However, this will be an important step in the process of building a mutual confidence between Russia and the international community. The increase in corporate transparency will mean that investments will become less risky for investors, and therefore cheaper. It is obvious that no national financial market will be able to develop normally in the depth of international. According to the results of the first two years, reforms can already be mentioned about defined both positive results and about transition problems. Nevertheless, the reform will be really finished only when each accountant will professionally own the basics of IFRS, and company managers are really interested in providing reliable and objective information. This means that it will be more actively working to improve the qualifications of accountants.

Among other reform tasks should be noted the need for the final separation of accounting on financial, managerial and tax, as is customary in international practice. At the same time, financial analysis will be focused on external users (owners, investors, creditors, debtors, etc.), management accounting will be used to systematize costs, making management decisions and planning, and tax accounting is to be applied to tax calculate. At the same time, once again it should be emphasized that accounting reform should be carried out with the current national traditions, the specifics of the economic development of Russia, and not by the blind copying of Western experience.

One of the most important factors to create the so-called new economy was precisely globalization of standards, and it is safe to assert that this trend will continue in the future. It is necessary to consider international financial statements standards, first of all, as an effective toolkit to enter international capital markets, as a new comprehensive approach in the process of forming financial information. This is especially true on the threshold of the 21st century, which presents qualitatively new requirements for companies wishing to compete in international markets. Organizations regardless of the size and forms of ownership will have to be addressed by the following task: how to remain viable on the market. It will be possible to make only in the case of providing a product or service that has additional value for the consumer, and in conditions of dynamically developing competition. This implies the presence of a flexible organizational structure, in particular, the ability to adapt to the accelerating pace of changes and cycles of business activity, as well as process intensive information flows, cash, etc. A successfully operating organization with a flexible structure of the next century should collect, analyze and process these streams in real time. The transition to IFRS is an important first step of any company seeking to use these resources and capabilities.

Perhaps the main conclusion according to the first results of reforming the Russian accounting system - the presence of certain positive results. A very painful process of transformation of accounting in accordance with the requirements of a market economy demanded primarily a change in attitent to the accountant profession. The accountant, which was previously one of the most invisible figures, turns into an indispensable adviser to the executives of the enterprise, mastering completely new functions (such as financial management, tax planning, etc.). It is extremely important that the reform continues to be achieved and acquired a complete character. This is especially true of the legislative framework for accounting, where one of the most so-called regulatory regulation diseases in Russia is an endless flow of current instructions, letters, instructions that often contradict each other. Among one of the promising areas of reform should be allocated to more widely participating in the business in developing new standards of accounting, which can be achieved by more active involvement in the process of adapting international standards of professional associations of accountants.

A recent statement of a member of the European Commission on the domestic market and the taxation F. Bolwectein can be very positive about that it will recommend IFRS to adoption for all European companies present in securities markets. This will be part of the EU strategy aimed at building a unified transparent accounting system in the European capital market. The meaning of this step, which, in all likelihood, will soon be implemented, it is difficult to overestimate for Russia, traditionally focused on European markets.

It is assumed that in the 21st century the information will become the most valuable resource. In this context, financial information can be viewed as an essential tool for the adoption of economic solutions, because Her quality depends on the effectiveness of attracting investment. It should be hoped that Russian enterprises will be considered in foreign markets as equal partners and fully use the wide possibilities offered by international capital markets.

List of references:

1. The state program of transition of the Russian Federation on the system of accounting and statistics adopted in international practice in accordance with the requirements of the market economy from January 14, 1992

1. Government Decree of March 6, 1998 No. 283 "On Approval of the Accounting Reform Program in accordance with International Financial Reporting Standards"
2. Artymenko V.G., Belengir M.V, "Financial Analysis", "Case and Service", 1999

1. Bernstine L.A, "Analysis of Financial Reporting", Moscow, Finance and Statistics, 1996

1. "The use of foreign experience in the conditions of transition of Russia for international standards in the field of accounting and statistics", a collection of scientific papers of the department of accounting, statistics and audit, p / r N.E. Grigorchuk, MGIMO (U), Moscow, 1998

1. Karlin T.P., McMin A.R., III, "Analysis of financial reports (based on GAAP)", Moscow, Infra-M, 1999

1. Kachalin V.V., "Financial accounting and reporting in accordance with GAAP standards", Moscow, "Case", 2000

1. Kovalev V.V., "Introduction to Financial Management", Moscow, "Finance and Statistics", 2000

1. Kondrakov N.P., Krasnova L.P, "Accounting Principles", Moscow, "FBK Press", 1997

1. "International Financial Reporting Standards", Moscow, Ascery-Assa, 1999

1. Mikhalkevich A.P., "Accounting accounting at enterprises of foreign countries", Minsk, "LLC Mitanta", 1998

1. Muller G., Guernon H., Miyek G., "Accounting: International Perspective", Moscow, Finance and Statistics, 1999

1. Pali V.F, "Comments on International Financial Reporting Standards", Moscow, "Ascery-Assa", 1999

1. Pankov D.A., "Accounting and Analysis in Foreign Countries", Minsk, "Ecoperos", 1998

1. "Legal basis of accounting and auditing activities", Moscow, "Lawyer", 1999

1. Puchkova S.I., Novodvorsky V.D., "Consolidated Reporting", Moscow, Infra-M, 1999

1. Rice E., "Accounting and reporting without problems", Moscow, "Infra-M", 1997

1. Solovyova O.V., "Foreign Standards of Accounting and Reporting", Moscow, "Analytics-Press", 1998

1. Stakhanov A. Yu., "Accounting Balance - International and Russian Standards", "Business - Inform", Moscow, 1999

1. Stukkov S.A., V.SUKOV, "International standardization and harmonization of accounting and reporting", Moscow, "Accounting", 1998

1. Terekhova V.A, "International Standards of Accounting in Russian Practice", Moscow, "Perspective", 1999

1. Sheremet A.D., Saifulin R.S., "Finance of Enterprises", Moscow, Infra-M, 1999

1. Anufriev V.E., "On the reform of the Russian accounting and reporting system", "Accounting", №8, 1998

1. Bakaev AS, "Accounting Community and Accounting Reform", "Accounting Accounting", №8, 1998

1. Bakaev A.S., "An accounting program: Problems of its implementation", "Accounting Accounting", №8, 1999

1. Bakaev A.S., "Disclosure of information in accounting reports", "Accounting accounting", № 7, 2000

1. Kiryanova Z.V., Odinushkina E.V., "How to transform Russian reports in accordance with GAAP", "Accounting", №3, 1998

1. Kovalev V.V., "Standardization of accounting: international aspect", "Accounting", №11, 1997

1. Kozhinov V.Ya., "Translation of Russian accounting in the system of international standards", "Financial business", No. 1-2, 1999

1. Makarevich M.E., "Some issues of transformation of financial statements in accordance with IFRS", "Accounting Accounting", №9, 2000

1. Novikova M.V., "Report on cash flow", "Accounting accounting", №1, 1999

1. "On reform of accounting in Russia", "Accounting", №5, 1998

1. Pali V.F, "Accounting in Russia and international standards", "Accounting accounting", №8, 1997

1. Panina T.G., "Preparation and provision of information in financial statements", "Accounting", №4, 1998

1. Solovyova OV, "Conceptual Fundamentals of Financial Reporting", "Accounting Accounting", №7, 1998

1. Solovyva O.V., Starovoitova E.V., "How to transform Russian accounting reports?", "Accounting accounting", №2, 1999

1. Schneidman L.Z., "On the way to international standards of financial reporting", "Accounting", №1, 1998

1. "Expert" for 1999-2000.

1. "Accountancy International" for 1999-2000.

1. "Accounting Report", September / October 1999, Issue 2.4

1. "Accounting Report", November / December 1999, Issue 2.5

Continental model

The experts of continental Europe and Japan are considered by the experts of this model. Here the specificity of accounting is due to two factors: business orientation on large bank capital and compliance with the requirements of fiscal bodies. Attracting investments is carried out with the direct participation of banks, and therefore the financial statements of companies is intended primarily for them, and not for the participants of the securities market. In the continental model, government agencies have a significant impact on the procedure for reporting. This can be explained by the priority of the task of the state to collect taxes. Basically, the country with this model is also guided by the principle of invaluance of the initial assessment. Russia refers to the continental accounting model, Germany and France also had a certain influence on our accounting.

This model is used: Austria, Algeria, Angola, Belgium, Burkina Faso, Côte d "Ivoire, Guinea, Germany, Greece, Denmark, Egypt, Zaire, Spain, Italy, Cameroon, Luxembourg, Mali, Morocco, Norway, Portugal, Russia, Senegal, Sierra Leone, Togo France, Switzerland, Sweden, Japan.

For example, a system for regulating accounting and auditing in France is significantly different from the British-American model.

The foundation of the accounting and audit system in France is the Commercial Code (Code de Commerce), the legislatively enshrine the need for accounting and reporting. The key link of this system is the National Accounting Code (National Accounting Code, more known as Plan CompTable General). This fundamental document contains more than 400 pages and includes a single account of accounting accounts. The Code in France performs the same functions that standards in the UK, its tasks are closely related to the tasks of national statistics and taxation. The development of this document and the necessary methodological guidelines to it was assigned to the National Council on Accounting (CNC) created in 1947 (CNC), who had the status of a government agency. "CONSEIL NATIONAL DE LA COMPTABILITE

Germany has a long-standing tradition of accounting, which has influenced the formation of accounting in pre-revolutionary Russia. The legislative framework of accounting and reporting in Germany is the Trade Code, which, along with other issues, regulates reporting issues; It addresses in detail the rules regarding the content and preparation of balance and income statement. In Germany, there is a single billion plan, on the basis of which sectoral plans for industry, trade, financial institutions have been developed.

A great impact on accounting and reporting in Germany provides tax legislation that practically prohibits the use of tax breaks if they did not find reflections in accounting.

Due to the absence of officially formulated generally accepted accounting principles in Germany, many controversial issues of reporting and credentials are solved in court. The development of recommendations on accounting and reporting that are not compulsory, but nevertheless taken into account in the development of legislation, the Institute of Accountants is engaged in the Institute (Institut Der WirtschaftSpufer), established in 1931.

If you try to rank various German sources governing accounting and reporting issues, then the following documents can be distinguished by significance:

1) commercial regulations;

2) tax legislation;

3) tax instructions;

4) accounting materials;

In German legislation, much more attention is paid to information about the activities of companies, i.e. reporting than accounting organizations. In the book, Y. Bethe "Balancing" provides the following definition of reporting: "Reporting is a reflection of entrusted capital in the sense that external reporting users are reflected, as well as its compiler, they get so complete, clear and relevant idea of \u200b\u200bthe economic activity of the organization, which can To make our own judgment about the managed property and obtained with its help. "

Also, Italy is rightfully considered to be home to accounting, since at the end of the XV century. Franciscan monk-mathematician Luka Pacheli formulated the principles of a double entry in his "Treatise on accounts and records", published in Venice in 1494. However, in the future, the leadership of Italy in the development of accounting was lost.

The legislative basis of the Italian accounting system is the Civil Code, as well as the decrees of the President of the Republic and the orders of the Ministry of Finance containing the recommendations of professional organizations.

Italy has a professional organization - the National Council of Commerce and Accounting Specialists (Consiglio Nazionale Dei Dottori Commercialisti E Dei Ragionaieri - CNDCR), publishing accounting standards that differ in very wide intercomposition. However, these standards are used by the Italian National Commission on Exchange - Consob (Commissione Nazionale Per Le Societa E La Borsa is an analogue of the American SEC). This commission has an impact on the reporting of reporting with joint-stock companies whose shares are listed on the stock exchange.

In the Netherlands, as in the UK, legislation on companies and professional organizations, and not tax legislation or the requirements of the stock market, were greatly influenced by accounting and reporting. Prior to adoption in 1970, the Issues of Accounting and Reporting Organizations in the Netherlands were practically legally regulated in the Netherlands. The provisions of this law were later included in the Civil Code and are submitted in line with EU directives. At the direction of the Government (1970), an indication of accounting on accounting on annual reporting was established, which included employers and employees, as well as accounting specialists.

Companies should not necessarily follow its instructions that are regarded only as the opinions of an influential private group, and the auditors are not obliged to state the facts of non-compliance with the recommendations of the Council.

Tax legislation, as well as the Requirements of the Stock Exchange, has only an indirect influence on accounting in the Netherlands.

Latin American model

With the exception of Brazil, the state language of which is Portuguese, these countries combines a common language - Spanish, as well as the common past. The main difference of this model from the above is permanent adjustment of the impact of credentials to inflation rates. Accounting for inflation is carried out in Latin American countries, and Argentina, Brazil, Uruguay and Chile introduced inflation rate and national legislation. In these countries, the official general price index is used as the main correction index, on the basis of which data on share capital and basic (non-current) funds are recalculated, commodity-material reserves are overestimated by rehabilitation cost. Obligations in foreign currency are recalculated at the exchange rate at the end of the reporting year.

In general, accounting is focused on the needs of government tax and planned bodies, and the metering methods used in enterprises are rather unified.

State bodies in these countries practically regulate the metering methodology. Professional accounting organizations do not have any significant impact on the methodology and accounting practice.

The South American model is used by: Argentina, Bolivia, Brazil, Guyana, Paraguay, Peru, Uruguay, Chile, Ecuador.

Thus, in countries with similar socio-economic conditions and accounting systems have a lot in common.

In the USA, Great Britain, the Netherlands used "British-American" model of accounting, which is focused on the needs of investors and creditors of the company. From a technical point of view, it is most liberal - each company generates an account plan independently, there is no uniform approved numbering of accounts. At the same time, there are general requirements for the organization of accounting, described by the "generally accepted accounting principles" system (General Accepted Accounting Principles - GAAP). Such requirements are produced by professional accountants associations.

In France, Germany, Japan and some other countries, an "continental model" is used, oriented to the needs of tax authorities. It is more formalized, since it relies on a single state-approved billion plan.

In countries with a high rate of inflation, the "Latin American model" is used, which is characterized by a constant adjustment of indicators for inflation rates.

Accounting systems of different countries differ significantly. The causes of such differences are both socio-economic and political and geographical factors. As socio-economic reasons, it is possible to distinguish the nature of the development of capital markets, the number of investors and lenders, participation in international capital markets, the level of inflation, the size and organizational structure of enterprises, the overall level of education, the types of legislative systems. Traditionally, in Germany and the United Kingdom, securities markets have been widely developed, the main suppliers of capital for companies are a large number of small investors who need permanent and complete information on the activities of the firms they receive through the financial statements. In Germany and France, the needs of the companies in capital are compiled mainly by a small number of large banks that have access to additional (in addition to the information contained) information on enterprises. In France and Sweden, a large role in the economy and, accordingly, the state is played in the financing of companies, which implies the orientation of the accounting and reporting system to meet the requirements of state bodies. One of the criteria for division can be the level of inflation: countries, therefore, are divided into having a high and low level of inflation. First include, primarily the countries of South America. In order for the information contained in the financial statements, it has been useful for users, it must be adjusted to inflation indices. For countries with low inflation, such a problem is not relevant. By virtue of the high level of development of the economy in the UK, the Netherlands, Germany and other developed countries, enterprises of these countries are characterized by quite large sizes, a complex organizational structure and high level of education of employees. This leads to the complexity of accounting information, which adequately reflects the existing economic reality and is adequately perceived by users. In the underdeveloped countries, the accounting systems are quite simple, due to the small size of the enterprises and the low level of general education.

Figure 1- diagram of the main characteristics of classical accounting models

The historical development of legislative systems also had a great influence on the accounting systems. Countries are usually divided into two large groups: legislator countries (Code-Law Countries; Legalistic Orientation) and illegtector countries (Common-Law Countries; Non-Legalistic Orientation). The first differences in the prescription of the laws on the principle: "Allowed what is allowed. By virtue of this, the accounting rules are rigidly regulated and are determined by law. These countries include, for example, Germany, France, Austria and others. For countries of illegtector, a permitting approach is characterized by the principle: "It is allowed that it is not prohibited." Accordingly, the accounting systems are distinguished by greater multivariance and flexibility, they are usually the outlined framework in which enterprises are given freedom of choice. Accounting rules or standards are not determined by law, but are developed by professional accountants organizations. This approach is used in the UK, France and a number of other countries.

Accounting systems can be exported as well as any other products. The impact of the accounting rules of one country to the accounting rules of the other may be due to political or economic dependence, geographic proximity.

Thus, the accounting systems of various countries differ varieties. However, there are groups of countries that adhere to the same type of approach to building accounting systems. (There are no two countries where accounting rules would be absolutely identical.) One of the most common is the three-models of the classification of accounting systems, according to which:

1. British-American model (United Kingdom, USA, Netherlands, Canada, Australia, etc.).

2. Continental model (Germany, Austria, France, Switzerland, Italy, etc.).

3. South American model (Brazil, Argentina, Bolivia, etc.).

2. British American accounting model

The main characteristics of the first model are the orientation of accounting for the needs of a wide range of investors, due to the highly developed securities market; The lack of legislative regulation of accounting, which is governed by the standards developed by professional accountants' organizations; the flexibility of the accounting system; High educational level of both accountants and financial information users. The second model is distinguished by the presence of legislative accounting; close connections of enterprises with banks that are the main suppliers of capital; orientation of accounting for state needs of taxation and macroeconomic regulation; conservatism accounting practice. And, finally, the main feature of the third model is the orientation of the accounting methodology for the high level of inflation and the needs of state regulation.

The British-American model is an exceptional self-regulation of accounting. The state formally does not direct accounting practice. This accounting system is developing by various professional accountants associations, flexible accounting standards (they are developing on the basis of accumulated experience, arguments, etc.). The basis of this model is the system of legislation of the overall orientation (the laws of general law, it is allowed that it is not prohibited). Such legislation does not regulate the lives of individuals and legal entities in detail, but establishes the boundaries of freedom of action. Distributed in the USA, England, Holland, etc. The main body engaged in the publication of accounting standards is the Board on Standards financial accounting (FASB). The main goal of the Council is the development and improvement of accounting standards intended for use in the private sector of the economy, auditors and accounting reporting users.

The Council is independent. Independence is ensured that the observation of the activities of the Council is carried out by the Financial Accounting Foundation. In addition to the Council, the Council was formed on accounting standards in public institutions. In parallel with this Council regulation of accounting practices, the Government organization is engaged in the Securities and Exchange Commission (presentation and protection of investors in accordance with the Securities Act).

The totality of the norms regulating financial accounting forms generally accepted accounting standards (GAAP). These methods proceed from the priority of the needs of external users of financial statements. Applied by many private companies. Although there are no compulsory audit for many private companies, etc., they often adhere to these generally accepted norms.

3. Continental model of European accounting

Continental model - Legal regulation of accounting, unification of the principles and procedures of accounting (Germany, France, Spain, etc.).Continental essentially a conservative model formed on classical accounting principles, with state regulation, orientation for tax accounting requirements and capital movement through the banking system. Here the accounting standards have status of state acts. This approach is largely generated by the action in these countries of the Codes of laws, the administrative and permitting regime of legal regulation (strictly by the letter of the Law) has been established.

Gradually, the country included in the overall market will achieve freedom of movement of goods, labor, etc. Secondary legislation is formed by the European Commission. It forms a number of documents. Directives:

1. Through the EU directive in 1978 was adopted, and it proposes recommendations on the formation of annual reporting of joint-stock commune commander societies, LLC. Feature:

4 options for balance and 2 options for income statement and loss are offered;

The rules for evaluating certain types of property are given;

Balance and profit and loss statement is complemented by a report on the financial position of the company;

2. EU directive. Regulates the preparation of free consolidated reporting.

4. The system of international standards.

Committee on International Standards - a body heading the process of developing standards (1974 g)

Currently there are about 40 standards, a cat. Regulate various aspects of accounting and reporting.
A number of standards are aimed at standardizing the accounting of fixed assets, intangible assets, investment activities. They are almost completely covered by the corresponding PBUs.

A whole group of standards is devoted to the accounting of the laws of the organization, accounting for revenues.

Analysis of both models reveals the main features of modern accounting systems. The purpose of regulating accounting is most accurate and fully formulated by the UN International Group: providing accessible and comparable information, including non-financial information, the provision of true and objective financial status, income and losses in financial statements.

In most countries, accounting regulation is focused on financial statements (accounting principles, assessment methods, information circle in reporting, etc.).

BIBLIOGRAPHY

Strettle F. Daily Structures: Possible and Impossible. - M., Progress, 1986.


Ivanov Yu.V. Basics of national office. M., 2003.


Malkova T.N. Ancient Accounting: What was she? M., Finance and Statistics, 1995


Seslavsky I. Azbuk Accounting. - M., Moscow worker, 1962.


Sokolov Ya. V. Luka Pacheti and its time: the formation and development of accounting. M., 1983.


Sokolov Ya.V., Sokolov V.Ya. History of accounting. M., 2003.


Sokolov Ya.V. Essays on the history of accounting. - M.: Finance and Statistics, 2001.


Hendrixen E.S., M.F. Van Breda. Accounting theory. - M.: Finance and Statistics, 2000.


Tsygankov K.Yu. Essays of accounting history: the origin of double accounting: a study guide for universities. M., 2004.

International accounting models Features of the organization of accounting in budget organizations

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Introduction

To date, there are more than a hundred national accounting models in the world. Despite general patterns, each of them is inherent in its own characteristics and its own system of principles. Methods of accounting and evaluation of production reserves, depreciation and reflection in accounting, methods of reflecting operations with foreign currency, etc. In addition, there are differences in approaches to the formation of reporting and the list of its indicators, ways to control the activities of firms. This is due to the fact that national accounting systems allow you to solve certain tactical and strategic tasks of the development of a separate country's economy by issuing and implementing relevant regulatory and legislative acts regulating the national accounting system.

Attempts to solve the problem of unifying accounting in the international context were repeatedly taken in the second half of the 20th century. The idea of \u200b\u200bharmonization of various accounting systems was discussed within the framework of the European Community (EU) from 1961; In each country, there may be its own model of the organization of accounting and the system of standards, its regulatory; "Harmony" of accounting models is achieved through their compliance with EU directives, the main provisions of which are included in the national legislation of community member countries.

The relevance of this topic implies from the widespread development of international, economic and financial ties, an increasing interpenetration of the economy of Russia and other countries in the conditions of expanding globalization. The purpose of this course work is to consider and compare various accounting models, factors affecting the formation of accounting models.

financial accounting

1. Factors affecting the formation of accounting models

International Organizations of Accountants, UN Expert Works Groups, Committee on International Financial Reporting Standards, individual economic scientists have studied features for a number of years, analyzed and grouped national accounting systems. As a result of this work, it was possible to distinguish a number of factors that directly affect the formation of a certain accounting system and reporting.

The primary factor due to the fundamental differences between national accounting systems is the information needs of users of financial information. From what group of reporting consumers is the main capital supplier, will depend on the goals of financial statements, its qualitative characteristics, fundamental principles and concepts, specific accounting techniques and techniques. In countries where the main creditors of enterprises are banks and the state, reporting will be in nature, strictly focused on the needs of fiscal state bodies and major credit organizations. If the formation of capital is directly related to the degree of development of the stock market and there is a rigid competitive struggle for additional sources of investment, the reporting of enterprises will focus on requests for potential investors and creditors. Such reports contain maximum analytical data, namely: all additional information on the structure and territorial placement of production facilities, about promotions and shareholders, on the company's contribution to improving the welfare of society, the level of professional training staff, etc.

As a second factor affecting the formation of an accounting system, the priority of the macro or microeconomic interests of the state can be called. Macroeconomic interests imply interest in expanding the scale of export-import operations, the sale of shares and securities on the stock exchanges of different countries, bringing foreign capital to the country, entry into the elite of the global economic community. Naturally, in front of the country that set the specified goals in the first place, it is necessary to unify its accounting principles in accordance with generally accepted standards and standards. If paramount attention is currently focused on solving domestic economic problems, the accounting and reporting system will be influenced by the established national traditions, which, one way or another, have its own characteristics in each country.

In addition, significant differences in the accounting methodology makes an accounting factor for financial, tax and managerial. Financial accounting solves the problems of relations between enterprises with state, banks, shareholders, suppliers, i.e. Issues of external activities. Management accounting is aimed at solving internal problems associated with an increase in the efficiency of structural units (responsibility centers). The main task of tax accounting is the exact definition of the taxable base, which allows him to consider it a tool for the fiscal economic policy of the state. The relationship between financial, managerial and tax accounting in different countries is carried out in various ways, and the priority role of one of them automatically discredits other types of accounting and affects the structure of financial statements and the accounting system. If the principles of accounting (financial and managerial) do not contradict the norms of tax legislation, organizations have the opportunity to conduct financial accounting in the interests of investors, managerial - in the interests of the company's management and at the same time use tax accounting norms to optimize contributions to the budget. On the one hand, such a building complicates work, on the other, it is precisely the presence of this system to most satisfy the interests of entrepreneurs and legislative authorities.

Political stability in the country and legislative protection of the interests of owners also affect the content of the accounting, as the risk of unforeseen capital loss is for investors a determining factor when choosing a method and country for investing free funds. When ensuring proper protection of investors' rights, the number of transactions in the stock market increases sharply, there is an influx of foreign capital into the country, the proportion of funds involved in organizations by issuing shares increases. In this case, accounting is "forced to" provide reliable and transparent information for the formation of financial statements.

Conversely, if the interests and protection of creditors are highlighted in the first place, the capital structure of enterprises and organizations is formed at the expense of banks and credit institutions, the securities market differs relatively small capacity, financial reports do not always adequately reflect the real economic situation.

The next factor affecting the accounting system can be considered the degree of investor involvement in business management. The industrial revolution in the United States led to a sharp increase in the national wealth and number of companies. The source of capital for the latter was the emerging and riching middle class. Owners of companies that were simultaneously investors were gradually distinguished from operational management, transferring it to the hands of professional managers and economists. Thus, the financial documentation begins to be used to control the efficient use of resources and turns into the most important source of information about the company's welfare.

The development of accounting is affected by the influence and geopolitical position of the country. Accounting techniques are exported and imported, thereby ensuring the uniformity of accounting systems in different countries. Thus, the United States with a general geographic border and close economic ties with Canada have a significant impact on accounting practice in this country. Canadian companies take an active part in the work of American stock exchanges. Such an influence of the United States of America is experiencing such countries as Mexico, Philippines, Israel, etc.

Accounting inflation in accounting. Inflation processes affect the system and techniques of accounting. In those countries where inflation is insignificant and economic processes Predictable, accounting is based on the principle of historical cost (Historical Cost Principle). It lies in the fact that the assets of the enterprise, the volume of implementation, the production costs are recorded at the prices of these transactions (at cost), and is based on stability. monetary unitused in accounting. The realism and accuracy of the financial information drawn up in accordance with this principle is inversely proportional to the rates of inflation.

Thus, the application in the accounting of the principle of historical value is an indicator of economic stability in the country. If, in the accounting, special recalculation techniques apply to assess assets value, inflation has a significant impact on the economy.

Training and financial management. The degree of development of production, management, financial system, training of professional personnel in aggregate affect the formation of the accounting system in the country. A higher production level of production requires setting more complex discount problems that can be solved by highly qualified accounting frames. Therefore, if the level of vocational education in the country is low, the accounting system cannot be organized at a high level. The same can be said about the level of preparation of users of financial reports. The level of their professional culture determines the complexity of the information that should be obtained from economists and accounting workers.

However, it is possible that even in a developing country, the level of development of accounting is at a high level, financial reports meet the requirements of transparency, reliability, usefulness for the adoption of economically faithful management and investment solutions. This situation is observed when the business is organized in the form of an international corporation, the headquarters of companies are located in industrialized countries, from where the current management and accounting frames and management personnel are being exported.

2. Accounting models, their classification

Currently, we can talk about the formation of an Anglo-American, continental, South American model of accounting, an Islamic model and a mixed economy model.

Anglo-American accounting model

IN an Anglo-American system (British-American-Dutch model) Accounting is considered not only as a system of records, classification and generalization of financial data by registering in monetary units of transactions and events, but also as a means of ensuring a quantitative information of a financial nature about business entities in order to use This information for making management decisions. In other words, accounting system is an essential element of the market economy infrastructure that binds together both private and state organizations.

As a rule, all categories of reporting users analyze financial results not a separate enterprise, but consider alternative options for placing their funds in a company of various industries. Thus, for inter-reported comparisons, information provided by companies should be uniform, that is, the standard, compiled according to the Single Regulations and Rules. In countries using the Anglo-American model of accounting, standards are developed by non-government authorities, but by public professional organizations. Three leading countries (United Kingdom, USA and the Netherlands) using this model have a well-developed securities market, and often the corporations separate share capital owners from operational management. In the United States, economic accounting policy (GAAP) is developing a professional organization of independent accountants - the FASB accounting board. The UK uses FRS Financial Reporting Standards and Standard Accounting Practice Norms of SSAP

It is currently used: Australia, Bahamas, Barbados, Benin, Bermuda, Botswana, Venezuela, Ghana, Hong Kong, Dominican Republic, Zambia, Zimbabwe, Israel, India, Indonesia, Ireland, Cayman Islands, Canada, Kenya, Cyprus, Colombia, Liberia, Malawi, Malaysia, Mexico, Nigeria, New Zealand, Pakistan, Panama, Papua - New Guinea, Puerto Rico, Singapore, Tanzania, Trinidad and Tobago, Uganda, Fiji, Philippines, Central America, South Africa, Jamaica.

Continental accounting model

The characteristic feature of the regulatory regulation of the accounting of the continental model is that the state participates both in the process of developing accounting standards and in the process of introducing them into practice. The rules for compiling the reporting of organizations are developed in such a way as to form input information for the national system of contractivation, through which the state controls the economy. This circumstance is due to the centuries-old tradition of centralizing management and the desire of entrepreneurs to enlist and get the support of the state. The latter has a significant impact on accounting by establishing the tax system and the requirements to reflect all costs for tax purposes for accounting purposes. The procedures for calculating taxable profits based on accounting data are strictly regulated. To determine tax liabilities, accounting profits are developed. Professional accounting organizations assigned the role of consultants on the practical application of the norms developed by the state, as well as accounting researchers.

Accounting for this model is practiced in the countries of Europe and Japan. Business in these countries is closely related to banks, and the government requires be sure to publish reports. The entire accounting procedure is conservative and is regulated by law. Taxation issues are priorities.

This model is used: Austria, Algeria, Angola, Belgium, Burkina Faso, Côte d "Ivoire, Guinea, Germany, Greece, Denmark, Egypt, Zaire, Spain, Italy, Cameroon, Luxembourg, Mali, Morocco, Norway, Portugal, Russia, Senegal, Sierra Leone, Togo France, Switzerland, Sweden, Japan.

South- american accounting model

The South American model of accounting is characterized by the orientation for the needs of state planners and, as a rule, is used by the "Spanish-speaking" countries that are combined with the generality of historical development and traditions.

The basis of accounting is the generally accepted account plan. It provides transparency of the annual reporting of companies, its comparability and adaptation of accounting on the requirements of international standards, plans strict requirements for the presentation of information on annual reporting. Thus, it should contain information on the proposed distribution of the company's performance, applied evaluation rules, including an exhaustive list of criteria for each category of assets and liabilities. The reporting should include data on lease, insurance, trials, material fundamentals, reserves, own capital, taxes, etc. Also, the reporting seems to be the information necessary for monitoring the execution of tax policies.

Another difference of this model is the constant adjustment of reporting data to the inflation rates and the unification of accounting techniques.

Used in Argentina, Bolivia, Brazil, Guyana, Paraguay, Peru, Uruguay, Chile, Ecuador. Focusing the needs of the government and differs from other models annual adjustments to inflation rates, the presence of special techniques that take into account the unstability of the monetary unit and violating the principle of the initial assessment of fixed assets.

Islamic accounting model

Islamic model. It is a member of the new organization of economic cooperation of Islamic states developed under the strong influence of Muslim religion. The main consolidation of rules and prescriptions, to adhere to each orthodox Muslim, is a sharia based on the Quran and Sunne, the main books of Islam. Sharia obliges not only to abide by numerous religious traditions and rituals, guided by certain principles in everyday life, but also imposes certain requirements for the field of finance and business. And insurance, as an important component of the economy, is no exception. Traditional insurance in the form in which it is accepted in the Western world is not relevant to the norms of Sharia, and therefore prohibited.

In commercial insurance, there are elements such as Ryba (usurism), Mason (Azart) and Garar (uncertainty). These elements are unacceptable from the point of view of Sharia, although Muslim lawyers still cannot come to a single opinion, the degree of presence of these factors in the traditional relations of the insured and insurer.

Although Islam imposes a number of restrictions on a business, it simultaneously preaches economic activity. Logic is simple: inattention to the economy may harm the Islam itself, since its financial base will be weakened. In practice, this means specific prohibitions, and one of the main applies to Garar (Gharar) - transactions, the conditions of which contain an unjustified or excessive risk, for example, when the result depends on the occurrence of a certain case. Because of it, first of all, the classical insurance schemes require substantial revision. Another well-known limitation prohibits Riba (RIBA) - usury, that is, loans for a percentage. Simplistic speaking, it is impossible to buy money for money, attracting funds should be carried out on the basis of separation of both profits and risks. Therefore, the most often Islamic loans become a joint venture of the Bank and the borrower, in the classical financial interpretation resembling direct investments.

Muslims allowed financial transactions usually have analogues in the classic Western business. It can be said that the schemes are selected, the most fair and protected from the point of view of Islam. "Study of the International Monetary Fund (IMF) - confirms Associate Professor MGIMO Renat Beckkin, - conducted back in 1987, shows that the Islamic economy and Islamic banking, in particular, contribute to the equitable distribution of resources, is less susceptible to the risks of illiquidity and insolvency. .

Mixed accounting model

The model of the mixed economy is characteristic of Eastern Europe and states, which were part of the Soviet Union, for which the transition to a market economy was a prerequisite for reforming the accounting system.

The diversity of ownership forms, not characteristic of the socialist management system, entailed the need to provide financial information not only for state authorities, but also for shareholders, owners, managers, creditors and investors. The expansion of foreign economic activity, the lack of an "iron curtain" and the need for a foreign capital inflow nominated the macroeconomic interests of these states in the category of priority, the objective need to provide the financial statements of enterprises in accordance with the requirements of international financial reporting standards (IFRS).

The practice of transition to IFRS showed that there are two ways to solve this problem - the adoption of international standards for the basis and maintenance of some national characteristics (and, as a result, relative economic independence) or duplication of international standards.

The accounting system of accounting in the Russian Federation is entirely under the auspices of state authorities; Professional organizations play the role of advisory groups. The new plan for financial and economic activities of organizations has already been developed and implemented, and provisions on accounting (PBU), the prototype for which IFRS was allocated, and the tax accounting was mediated in a separate accounting industry.

However, Russian PBUs are not an accurate copy of international standards, because Not all principles, terms and concepts are consonant with the norms and requirements of our legislation, in particular the Constitution of the Russian Federation. Thus, traditional features are preserved and a certain "symbiosis" accounting system is formed, which, on the one hand, is focused on the principles of international financial reporting standards, and on the other hand, it is strictly controlled and is regulated by state authorities.

As an illustrative example of "duplication" of IFRS, you can bring the experience of the Republic of Kazakhstan, where the basis for the construction of the accounting system is the standards that are fully relevant to international. There is also a single account plan for accounts, but differing, compared with Russian, significant detail, the lack of active-passive accounts, which provides simplicity, "transparency" and analyticality of the financial information provided.

It should also be noted that the countries of continental Europe and the US GAAP accounting system have a certain impact on the formation of accounting systems of Eastern European countries. In this situation, talking about international financial reporting standards as a modern "Panacea" in the field of accounting is not entirely correct. It is possible that under the influence of accounting organizations of countries defending their economic interests, the CMSFO will make some changes to its constitution in order to strengthen cooperation with national organizations establishing their own accounting standards in their states.

Conclusion

It should be emphasized that division on the accounting models is very conditional - there are no two countries with fully identical accounting systems. On the other hand, due to objective processes in the global economy, the need for international standardization of accounting is obvious. A number of organizations are engaged in the unification of accounting standards and reporting standards.

In the context of the integration of the Russian economy, the world should, leaving all the valuable national characteristics of Russian accounting, strive, at the same time, to the maximum use of international accounting standards. This will improve and reform the current accounting system at all levels of its organization, which in turn will lead to more active trade and economic contacts, the influx of the so necessary Russian economy of foreign investment.

In conclusion, it is necessary to pay attention to the fact that between all the listed factors and the degree of development of the accounting system exists "Feedback". The absence of a proper accounting system is constrained by economic progress, the influx of foreign capital and adversely affects the development of external economic relations of different countries.

Bibliography

1. Aytman T.O. Development: Samples of documents. - M.: Rior Publishing House, 2004.

2. Al Harran, Saad. Islamic finance: finance entrepreneurship. Pellandung Publishing.2005

3. Bezless P.S. Accounting: studies. Manual: Rivers. M-B. Education of the Russian Federation; Expert Council on Buchs. Accounting / P.S. Bezrukin, I.P. Commissioner. - M.: Uniti, 2007.

4. Rich I.N. Development and Accounting: studies. Manual / I. N.

5. Accounting: studies. For universities: rivers. M-B. Education of the Russian Federation;

6. Müller, H. Gernon, Mink. "Accounting" International Perspective., 2007

7. Glyaev N.S. , Vetrova L.N. Strong model of accounting and analysis in foreign countries: Knourus , 2006.

8. Klimova MA Accounting. Infra-M, 2008.

9. Weaver V.I., Tkach M.V. "International Accounting and Reporting System" - M., 2006.

10. Sokolova E.S. Accounting: FBK-Press. 2008.

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