Accounting and valuation of fixed assets according to Russian and international accounting standards

UDC 336.7

Authors

Rabadanova Zh. B., Gabibov Sh. D.

Abstract

The article explores the ways of convergence of Russian fixed assets accounting with international financial reporting standards. Actual problems arising on the way of convergence of Russian fixed assets accounting with IFRS are considered. Effective mechanisms are proposed for introducing into the Russian practice of accounting the principles of accounting and reporting proclaimed in IFRS.

Keywords

fixed assets, accounting, IFRS, convergence, RAS, standard, modernization, transformation.