Comparison of the Accounting Systems and Financial Reporting in Russia and in the United Kingdom

Angelina Shostak

Bakalářská práce

Abstract:

Accounting standards help to create systematized and constructive financial records; however, different countries have different standards and accounting structures. Russia has the Continental model and adapts the International Financial Reporting Standards (IFRS). Whereas United Kingdom has Anglo-Saxon model and uses the Generally Accepted Accounting Practice (GAAP). As these countries operate under two different models and two different standards, it creates many difficulties and misunderstandings between international companies. The survey was distributed among people working in the accounting companies at different positions both in Russia and in United Kingdom in order to understand main problems. The respondents, of varying age groups and different work experiences, used different accounting standards at their companies and therefore the survey analysed their responses to understand the need of a common globalized accounting standard.

Keywords

accounting system, Continental model, Anglo-Saxon model, accountant, accrual, IFRS, GAAP

Jazyk práce: angličtina

Datum vytvoření / odevzdání či podání práce: 14. 3. 2022

Obhajoba závěrečné práce

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

Česká zemědělská univerzita v Praze

Provozně ekonomická fakulta

Bakalářský studijní program:
Business Administration