UDC 657.1: 338
N. E. Levchenko,
Senior Lecturer and Postgraduate Student, Department of Accounting and Taxation, Baikal State University, Irkutsk, Russia
Associate Professor, Department of Accounting and Taxation, Baikal State University, Irkutsk, Russia
Objective. The globalization of the economy and the integration of financial assets of different countries is impossible without a system of uniform principles for the formation of financial statements. Such a system today is the International Financial Reporting Standards (IFRS). The gradual spread of IFRS in the world takes place through standardization and harmonization. However, with the implementation of international standards, it is impossible to avoid the problems associated with the culture, legislation, infrastructure and capabilities of each country. Similar problems exist in Russia as well. The article is devoted to their analysis.
Materials and methods. The features of the process of implementation of IFRS in Russia are analyzed, the main differences between RAS and IFRS are considered.
Result. The main practical problems of using IFRS in Russia are the lack of sufficient knowledge and competence among employees, the difficulty of translating concepts and terms used in the original text of IFRS, the absence of specialized computer programs for transforming financial statements into IFRS statements.
Conclusion. The transition to IFRS will allow analyzing and interpreting the performance of Russian companies, which will help improve the investment climate in Russia.
international financial reporting standards, harmonization, standardization, financial reporting, problems of implementation of IFRS.