Assessment of the Reported Information in the Financial Statements Prepared Under the Russian Accounting Standards and the International Accounting Standards

Elena Gudoshnikova

Master's thesis

Abstract:

The concept of compiling and publishing statements is the basis of the system of national accounting standards in most economic countries.In the period of globalization of the economy and the convergence of national standards with international ones, the Russian accounting and reporting system is going through a period of adaptation and bringing the national accounting system in line with the requirements of a market economy and international financial reporting standards. Already many large Russian companies provide reporting on international standards. This is implemented in two ways: parallel accounting of Russian and international standards, or the transformation of Russian reporting into IFRS reporting. Despite the fact that the process of convergence of Russian standards with the standards of world practice is carried out for a long time, at the moment there are a number of fundamental differences. Therefore, this work aims to study the two accounting systems, their legislative framework, financial reporting, to determine their similarities and differences.

Keywords

Financial Statements, Balance sheet, Income Statement, Russian Accounting system, International Financial Reporting Standards, Notes, Cash-flow state- ment

Language used: English

Date on which the thesis was submitted / produced: 30. 3. 2019

Thesis defence

• Supervisor: Ing. Enikö Lörinczová, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme / field:
Economics and Management / Economics and Management