IFRS financial results. The use of IFRS in accounting financial results. Flow of funds

international Accounting Financial Reporting

The purpose of this Standard is the prescription of the basis for the submission of financial statements. general purpose In order to achieve comparability both with the financial statements of the enterprise for previous periods and financial statements of other enterprises. To achieve this goal, this standard sets out general requirements for the submission of financial statements, recommendations for its structure and minimum requirements for its content. Recognition, measurement and disclosure of specific operations and other events are considered in other standards and in interpretations.

This standard is applied to all forms of general financial statements compiled and submitted in accordance with International Financial Reporting Standards (IFRS).

Financial statements (1) is a structured presentation of the financial position and financial results Enterprises. The purpose of the financial statements of general purpose is to provide information on financial position, financial results and motion money Enterprises useful for a wide range of users when making economic decisions. Financial statements also show resource management results trusted to the Company's management. To achieve this goal, financial statements provide information on the following indicators of the enterprise:

• (a) assets;
• (b) commitments;
• (c) own capital;
• (d) income and expenses, including other income and losses;
• (e) other changes in their own capital; and
• (f) cash flow.

This information, along with other information in notes, helps users financial reports Predict future cash flows and, in particular, their time distribution and certainty.

A complete set of financial statements includes:

• (a) balance;
• (b) Profit and Loss Statement;
• (c) a report on changes in its own capital showing or
• (i) all changes in their own capital or
• (ii) changes in own capital, other than those that arise as a result of operations with owners of equity instruments acting as owners of equity tools;
• (d) cash flow statement; and
• (e) Notes containing a set of significant accounting policies and other explanatory notes.

The form of financial statements should be clearly defined and allocated from other information in the same published document.

Each component of financial statements should be clearly defined. In addition, the following information must be clearly shown, and must also be repeated if necessary for proper understanding Information provided:

• (a) the name of the reporting enterprise or other identification features, as well as any changes in this information made from the date of the previous balance;
• (b) directions covers the financial statements of a separate enterprise or group of enterprises;
• (c) the date of balance or the period covered by financial statements, depending on what is more suitable for this component of financial statements;
• (e) The degree of rounding used in the presentation of the amounts in the financial statements.

Financial statements seem to at least annually.

Balance. Distinction between short-term and long-term articles

The company represents short-term and long-term assets and short-term and long-term liabilities as separate classifications in the balance sheet in accordance, except in cases where the representation based on liquidity gives reliable and more relevant information. When this exception is used, all assets and liabilities are free, in liquidity.

Regardless of which presentation method is adopted, for each article of assets and liabilities, which unites the amount, repayment or compensation of which is expected during the period, (a) not exceeding twelve months after the balance sheet date and (b) exceeding twelve months after the balance sheet date, Enterprise Reveals the amounts, repayment or compensation of which is expected after more than twelve months.

Short-term (revolving) assets (2)

The asset is classified as short-term when it meets any of the following criteria:

• (a) It is assumed that it will be implemented or intended for sale or use during the normal operating cycle of the enterprise;
• (b) it is held mainly for commerce purposes;
• (c) It is supposed to realize it for twelve months after the balance sheet date; or
• (d) It is a cash or cash equivalent (according to definition in IAS 7 "Cash Movement Reports"), unless there is a limit on its exchange or use to repay obligations during at least twelve months after the date Balance.

All other assets are classified as long-term.

Short-term obligations (3)

The obligation is classified as short-term when it meets any of the following criteria:

• (a) It is assumed to repay it during the normal operating cycle of the enterprise;
• (b) it is held mainly for trading purposes;
• (c) it must be executed for twelve months after the balance sheet date; or
• (d) The company does not have an unconditional right to postpone the repayment of this obligation at least twelve months after the balance sheet date.

All other commitments are classified as long-term.

Information to be submitted in the balance sheet itself

At least the balance itself should include separate articles that represent:

• (a) real estate, buildings and equipment;
• (b) investment real estate;
• (c) intangible assets;
• (d) financial assets (excluding the amounts specified in paragraphs (E), (H) and (I));
• (e) investments taken by the method of equity participation;
• (f) biological assets;
• (g) stocks;
• (h) trade and other receivables;
• (i) cash and their equivalents;
• (j) Trade and other accounts debt;
• (k) evaluation obligations;
• (L) financial obligations (excluding the amounts specified in paragraphs (j) and (k));
• (m) obligations and assets for current taxes, the definition of which is given in IAS 12 "Income Taxes";
• (n) deferred tax liabilities and deferred tax assets whose definition is provided in IAS 12;
• (O) The share of the minority presented in the composition own capital; and
• (P) The released capital and reserves attributed to the owners of equity tools of the maternal company.

Additional articles, headlines and interim sums should be presented in the balance sheet when such a submission is appropriate to understand the financial position of the enterprise.

When an enterprise represents short-term and long-term assets and short-term and long-term commitments as separate classifications in the balance sheet itself, it should not classify deferred tax assets (obligations) as current assets (Short-term liabilities).

Gains and losses report

Profit or loss for the period

All declarations and expenses recognized in the period should be included in profit or loss, unless otherwise required by standard or interpretation.

Information to be submitted in the list of profit and loss

At a minimum, the profit and loss account itself should include articles that represent the following values \u200b\u200bfor the period:

• (a) income;
• (b) financing costs;
• (c) the share of profit or loss of associates and joint activities taken into account by the equity method;
• (d) Profit or loss until tax deductions recognized when disposing of assets or settlement of liabilities related to the terminated activities.
• (e) the cost of paying tax;
• (f) Profit or loss.

The following articles should be disclosed in the profit and loss statement as a distribution of profits or loss for the period:

• (a) profit or loss attributed to the minority; and
• (b) Profit or loss attributed to owners of equity tools of the maternal enterprise.

Additional articles, headlines and interim sums should be submitted in the profits and loss statement when such a submission is appropriate to understand the financial performance of the enterprise.

Report about changes in own capital

The company must submit a report on changes in its own capital, showing in the report itself:

• (a) profit or loss for the period;
• (b) each income and expense article for a period, which, according to the requirements of other standards or interpretations, is recognized directly in its own capital, and the final amount of such articles;
• (c) the total amount of income and expenses for the period (calculated by summing (a) and (b)) with a separate indication of the total amounts attributable to owners of equity tools of the parent company and the share of minority;
• (d) For each equity component, the impact of changes in accounting policies and error correction recognized in accordance with IAS 8.

The company should also submit or in the report of changes in its own capital, or in notes the following information:

• (a) the amount of operations with owners of equity tools acting as owners of equity tools with a separate indication of the distribution of funds among them;
• (b) the balance of retained earnings (i.e. accumulated profit or loss) at the beginning of the period and on the balance sheet and change during the period;
• (c) Removing between the book value of each class of eigenvalued capital and each reserve at the beginning and end of the period with a separate disclosure of each change.

IFRS No. 7 "Cash Movement Reports"

Information on cash flow provides users with financial reports the basis for assessing the ability of the enterprise to generate funds and their equivalents, taking into account its needs to use these cash flows.

The information provided by the company in the cash flow report must be classified in areas of activity: operating, investment, financial.

Operating activities (4) are the main activity of the company that brings a positive cash flow, as well as other activities that, by definition, cannot be attributed to investment and financial.

Investment activities (5) The company is related to the acquisition and sale of non-current assets and other investments that are not related to monetary equivalents.

Financial activities (6) of the company involves changes in the amount and composition of own or borrowed capital as a result of attracting financial resources.

The amount of receipts and payments of cash from operating activities is the main indicator of the degree in which the company's main activity ensures their receipt in sufficient to repay the obligations and the implementation of new investments without contacting external sources of financing.

Each component of the cash flow report should be presented in the deployed form, taking into account the species and directions cash streams. In industrial poultry industry, the following details of cash flows should be allocated: cash arrivals from agricultural sales own production; receipts from the sale of other products, goods, work, the provision of services; Receipt renovation accounts receivable; cash receipts from renting, fees, commission and other revenues; cash payments to employees of the organization; on the payment of dividends, interest; cash payments to suppliers and other counterparties; on training personnel, etc. The main indicator characterizing the effectiveness of the organization's operating activities is pure cash flow. That is why the allocation of funds received from operating activities is important for understanding the organization's activities.

IFRS No. 7 "Cash flow reports" provides for the presentation of information direct and indirect method. The main criterion, when choosing a method, is the relevance and accuracy of the information.

Development of international economic relations at the level of enterprises in conditions market relations And the competitive struggle is impossible without proper information to ensure. At first glance, it seems that this process should not be accompanied by any major problems, especially problems of a fundamental nature, since domestic markets also suggest mutual awareness of business entities, which is just achieved by distribution accounting reportingcompiled in accordance with national regulators. However, between the intention of notifying the potential foreign counterparties and the implementation of this intention - a distance of a huge size, overcoming which is accompanied by numerous difficulties and barriers, and the language barrier is not the most important.

The main problem is that there are probably no two countries with the same accounting rules, and therefore the mutual submission of reporting data by firms registered and carrying out the bulk of their operations in different countries, causes quite natural alertness from the standpoint of an adequacy of the declared adequacy (t .. Presented in the form of reporting) actual state. Among the reasons for such alertness, the dominant role is definitely played by the reasons having a purely professional nature and the fact that the user may not clearly understand the logic and basic algorithms of the formation of indicators presented to it. Professional methods of possible contradictions regarding the interpretation, the legitimacy and feasibility of certain accounting rules, estimates and reporting, naturally be only part of the base for doubt; Among other arguments, for example, national, political, general economic and other peculiarities of doing business and inform it, adopted in the given country.

In order to reduce country variability in accounting and reporting rules and smooth out the degree of mutual distrust with respect to "correct or incorrectness" of such rules, the international accounting community accepted the decision to carry out their unification by processing and implementing typical regulators that received the name international Financial Reporting Standards (IFRS). This work began to be conducted under the slogan of the need to harmonize and standardize accounting.

Elements reflecting the financial results of the enterprise are income and expenses. The concepts of economic categories "Revenues" and "expenses" of the enterprise are formulated in the head of IFRS "Principles". In Russia, they are disclosed in the concept of accounting, as well as in the accounting provisions: PBU 9/99 "Revenues of the Organization" and PBU 10/99 "organization expenses" (with subsequent additions and changes).

Definition of the category "Income" in IFRS - represents the increment of economic benefits during the reporting period, which is happening in the form of inflows or increase assets or reduce obligations, which is expressed in increasing capital not related to the contributions of participants joint Stock Capital.

According to IFRS, revenues are divided into two classes:

Income from ordinary activities;

Other income.

Income from ordinary activity is called "revenue" and is formed in the process of regular activities of the enterprise in different types: in the form of income from the sale of labor products; in the amount of remuneration received, interest, dividends; in the form of royalties and rent.

Other revenues are irregular, random income that may occur or absent in the activities of the enterprise. These include, for example, revenues from the sale of fixed assets, stocks, positive exchange differences, received fines and penalties. IFRS notes the conditional nature of the attribution of income to a particular group, depending on the specific activity of the enterprise and the unified nature of various income articles on economic nature, as they all represent an increase in economic benefits.

Describing in the chapter "Principles" "Income" as an economic category, in the same chapter IFRS determines the criterion for incorporating income into financial statements. The fact of incoming income into financial statements is called "retention recognition." The need to verify the criterion recognition of income is due to the uncertainty of increasing economic benefits in a particular situation. Criteria for income recognition under IFRS is that income is recognized in the income statement, if there is an increase in future economic benefits associated with an increase in assets or decrease in obligations that can be reliably measured.

If the determination of the category "Revenues" is contained in the conceptual chapter of IFRS "Principles", a separate standard of IFRS 18 "Revenue" is devoted to the company's revenue. In IFRS 18, revenue recognition is carried out in different ways depending on the type of revenue:

From the sale of goods;

From the provision of services;

From the use of other parties to the assets of enterprises that bring interest, license payments and dividends.

IFRS 18 does not exhaust all possible types of revenues, but the revenue not provided for by this standard is considered in other standards. For example, the procedure for the formation of income under lease agreements is disclosed in IFRS 17 "Rent"; dividends - in IFRS 28 "Accounting for investments in associates"; Fair Changes financial assets and financial obligations - In IFRS 32 "Financial tools: disclosure and presentation of information." Depending on the type of IFRS revenue, various criteria for recognizing it in the reporting are provided. Schematically compliance with the conditions for recognizing revenue from the sale of goods in Russian accounting standards and IFRS presented in Table 1.8.

Table 1.8 - Revenue Review Criteria

In accordance with IFRS 18, the amount of revenue arising from one or another revenue operation is usually determined by the contract between the supplier and the buyer or the user of the asset. Revenue is estimated at the fair value of compensation received or expected to receive, taking into account the amount of any trading discounts or wholesale discounts provided by the company.

Under the fair value in IFRS 18 it is understood as the amount of funds on which you can exchange an asset or repay an obligation when making a transaction between well-aware, who want to make such a deal independent of each other by the parties.

The definition of the category "Consumption" in the chapter "Principles" of IFRS is a decrease in economic benefits during the reporting period, which is happening in the form of outflow or exhausting assets or an increase in obligations leading to a decrease in capital not related to its distribution among share capital participants.

After determining the costs of both the economic category in the chapter "Principles" of IFRS, their classification is provided:

Expenses from ordinary activities;

Expenses from activities other than the usual, which may arise or absent in the process of activity of the enterprise.

Costs for ordinary activities include such expenses as: sales cost, salary, depreciation.

Costs from other activities are losses arising from the implementation of fixed assets or other assets in the event of a change in currency exchange rate, as a result of natural disasters.

However, when distinguishing articles of the costs of IFRS, their single nature is observed in economic nature, since they are all reducing economic benefits.

The "Principles" chapter of IFRS does not regulate the grouping of expenses from the elements on elements, and these costs include both single-element (salary, depreciation) and complex costs (sales cost). Enterprise law independently form a nomenclature of calculation articles.

By defining the "consumption" as an economic category, IFRS in the chapter "Principles" indicates criteria for incorporating expenses into financial statements. The fact of inclusion of consumption in financial statements is called "consumption recognition." The need to verify the criterion for recognizing consumption is due to the uncertainty of reducing economic benefits in a particular situation. The recognition criteria for IFRS consumption is that the consumption is recognized in the income statement, if there is a decrease in future economic benefits associated with a decrease in the asset or an increase in the obligation that can be reliably measured.

Unity and differences in the interpretation of elements that characterize the financial results of the enterprise, according to Russian regulatory documents and IFRS are presented in Table 1.9.

Table 1.9 - elements characterizing the financial results of the enterprise, in domestic accounting reporting and on regulation of IFRS

As can be seen from Table 1.9, adopted in last years regulations Significantly brought the domestic financial statements to IFRS. PBU 9/99 and PBU 10/99 are especially important, which, despite the differences, in the most important issues meet the requirements of IFRS. At the same time, there are no inconsistencies with the regulations of Russian accounting standards by the Rules of IFRS, the most significant, of which is to preserve the rigid regulatory regulation of many issues of accounting for income and expenses of enterprises.

The following article should be presented in the income statement: revenue; operating results; financing costs; the proportion of profits and losses of associate organizations and joint activities taken into account by the participation method; tax expenses; profit or loss from ordinary activities; Results of emergency circumstances; minority share; Net profit or loss for the period.

In the income statement and in the notes to it, it is necessary to give an analytical characteristic of income and expenses. The standard recommends that two approaches to cost classification: cost character method (classification by cost elements) and the method of cost functions or sales cost method (implementation).

Accordingly, two reporting formats arise. The first format is based on the disclosure of production costs for the so-called cost elements, the second - at the cost of production. Both formats allow you to get a completely identical result, but in different ways disclose data on the formation of financial results.

Study conceptual basics Composing financial statements in IFRS and Russian legislation on accounting allows us to conclude a certain proportion of similarity in general approaches to the formation of financial reporting indicators in Russian and international standards. At the same time, there are already significant differences in the concept basics, which will inevitably lead to the difference in reporting indicators drawn up by russian standards And under IFRS. These include various interpretation of assets, obligations and capital, the absence of reporting elements in the Russian legislation, not performed (although proclaimed) in Russian practice, many of the reporting principles required under IFRS.

The objectives of this standard are the definition of classification methods, disclosure and accounting of certain articles in the income statement. This standard also requires classification and disclosure of typical and non-typical (emergency) for the company of articles.

Emergency articles - These are income or expenses arising from the events of economic activities or operations that are significantly different from the company's common activities, therefore it is assumed that they will not arise regularly.

Typical articles Associated with the activities carried out by the enterprise as part of its usual economic activity. Net profit or loss for reporting period Consist of the following components to be disclosed in the financial statements:

• profit or loss from ordinary activities;
• emergency articles.

Direct currency quotation - indication of the cost of foreign currency units in national currency. Recalculation of foreign currency to the national is made by multiplying the amount in foreign currency For its course in national currency.

Indirect currency quotation - the expression of a unit of national currency by its equivalent in foreign currency. Recalculation of foreign currency to the national is made by dividing the amount in foreign currency for its course in national currency.

Course currency differences There are due to the change in the official quotation of foreign currency to the ruble. Positive exchange rate currency differences (income) are formed when the cost of the currency in rubles for different dates of operations with currency increases the ruble equivalent in the balance sheet asset without increasing liabilities. Negative coursework differences (loss) occur in cases where due to changes in the cost of the currency in rubles for different dates, the ruble equivalent increases in the balance liability without an appropriate increase in the asset.

In financial statements, the amount of exchange rate differences reflected in the account of profit and loss, as well as accumulated under the "Capital article", with deciphering their movement, as well as the amounts of course differences included in the value of assets during the reporting period were disclosed.

IFRS-23 "interest on loans"

Loan costs are the costs of interest or other costs incurred by the enterprise in connection with the receipt of borrowed funds. It is fundamental to the fact that loan costs should be recognized as expenses in the period in which they were incurred, no matter how these loans are used.

According to IFRS 23 in loans costs include:

• interest on bank overdraft or short-term and long-term loans;
• depreciation of discounts and premiums related to loans;
• depreciation of secondary costs that appeared in connection with the provision of loans;
• depreciation of secondary costs incurred in connection with the provision of loans;
• the difference in exchange rates arising from obtaining loans in foreign currency provided that they are considered as amendment to interest payments.

IAS also provides an alternative approach, in accordance with which loans costs may be capitalized, and not to be included in the periods of the period in which they were incurred. The capitalization process involves the accumulation of costs up to a certain moment (for example, to a complete or partial commissioning of the facility), followed by their write-off for the cost of the asset. The costs of loans acceptable to capitalization are the costs of such loans that were obtained exclusively for the acquisition, construction or production of a qualified asset and which should be capitalized as part of the cost of this asset. Qualifiable is an asset that requires a considerable period of time to prepare it for use for its intended purpose or for sale.

The amount of loan costs acceptable to capitalization should be determined based on the standards of capitalization of income, which are the weighted average cost of loans, which are outstanding debt during the reporting period.

Capitalization of loan costs as part of the value of a qualified asset startedWhen:

• made investment in assets;
• incurred loans;
• continues necessary work In preparing an asset to its intended use or sale.

Cost capitalization According to loans it should be suspended In the event that the development of the asset is interrupted for a long time.

Full cessation of capitalization (The cost of cost costs) occurs if the main part of the activity required to prepare a qualified asset to use or sell is completed. Capitalization stops also in the case of completion of work on one of the parts of the asset, if this part can be used when the construction of other parts continues.

Financial reports should disclose:

profit for one ordinary share, which is used to compare the performance of the company in different reporting periods or various companies in the same reporting period, IFRS-33 "Profit per share" establishes general for all rules for calculations of this indicator, in particular the denominator of the formula " Profit divided by the number of shares. In accordance with the standard, it should be applied by companies whose ordinary shares are treated on the open market of securities.

Basic profit rate per share It is necessary to calculate the division of net profit (loss) for the reporting period on the weighted average number of ordinary shares in this period. Net profit decreases to the amount of dividends by privileged shares. A net loss for the amount of these dividends increases.

Basic indicator of the number of shares During the reporting period, it should be equal to the weighted average number of ordinary shares in circulation during the reporting period. The weighted average number of shares in circulation is determined by their number at the beginning of the reporting period, plus the number of posted shares for a period of minus the number of redempted shares during the period. These indicators are multiplied by weighted temporal coefficientwhich is calculated by dividing the number of days during which the shares are in circulation, for the total number of days in the reporting period.

Divorcing effect Arises in all cases where ordinary shares are produced and posted at a price, which is lower than the fair value of these shares. When 250 ordinary shares are sold today by 90 rubles. For the action at its fair value in the market of 125 rubles, then the loss of capital for sale is 250 x (125 - 90) \u003d 8 750 rubles. This means that 70 shares (8 750: 125) are transferred to future shareholders for free. They create a raincing effect, as dividends will be paid on them, as well as on other shares, but capital capable of creating a profit for dividend payments, the company has not received. The separating effect leads to the fact that the magnitude of the profit per share decreases.

Calculation of the number of shares with a dividing effect Determined by the conditions of options, warrants, bond and other contracts involving their conversion into ordinary shares. To calculate the divorced profit on an ordinary share to the weighted average number of ordinary shares in circulation, the weighted average number of ordinary shares will be added to the conversion, which will be released during conversion in the shares of the separating effect contracts.

Information on basic and divorced earnings per share is presented in the income statement for each class of ordinary shares if they have differences in respect of net profit per share. The information seems to have all reporting periods shown in the reporting.

In the financial statements, the indicators of the numerator and the denominator of the formula for the calculation of profit per share should be disclosed. Basic and divergent profits should be based on the reconciliation of these indicators with a net profit (loss) for the reporting period. The weighted average number of ordinary shares in the formula denominator must also be justified, and the basic and waterconductors are linked to each other with the help of mutual reconciliation of indicators.

Chapter 5. The main differences in Russian and international financial statements standards

§ one. Comparative analysis Russian and international financial statements

1.1. Financial Reporting Principles

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.

In accordance with the Federal Law "On Accounting", such a task of accounting in Russia was extended as the formation of full and reliable information on the activities of the Organization and its property regulations necessary to internal accounting users - managers, founders, participants and owners of the organization's property, as well as External - investors, lenders and other accounting users. Accounting concept in market economy Russia longer interprets this goal, focusing on the fact that the reporting should, first of all, respond to the interests of its internal and external interested users to make decisions. Undoubtedly, the recognition of these goals is a significant step towards IFRS, although it should be noted that in practice, reporting compilers pursue other purposes, first of all, fiscal.

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 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 give grounds for their write-off, despite the fact that the management knows that such objects no longer exist on the specified balance 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 for proper documentation often does not allow russian enterprises Consider all operations related to a certain period. This difference leads to differences in the moment of accounting for these operations.

In Russia, principles accounting Formulated in the Federal Law "On accounting"Dated November 21, 1996 (in the form of accounting requirements), accounting regulations" Accounting Policy of the Enterprise "(PBU 1/98) (in the form of requirements and assumptions) and" Accounting Reporting of the Organization "(PBU 4/99 ), 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. This is the main problem, which remains unsolved so much.

Table 4 shows a comparative analysis of the conceptual foundations of accounting in international and Russian practice.

Table. 4. Comparison of the principles of preparation of financial statements in international Practice and Russia

Summarizing differences in the basic principles of the preparation of financial statements in accordance with IFRS and Russian legislation, the following conclusions can be drawn:

• According to the Law on Accounting, the main tasks of accounting, in addition to the formation of full and reliable information, are the provision of information necessary to control the observance of legislation, compliance with the norms and preventing negative results of economic activities;
• In Russian practice there are 2 assumptions, unforeseen IFRS;
• In Russian practice, most principles are revealed less detail than in IFRS;
• The structure of principles in Russian legislation does not comply with IFRS (for example, restriction of relevance and reliability formulated as a requirement) and is not represented in a logical and consistent manner in any particularly taken by the Russian regulatory act;
• There are differences in terminology.

1.2. Elements of financial statements

Financial reporting elements are economic categorieswhich are associated with the provision of information on the financial condition of the enterprise and the results of its activities: assets, liabilities, equity, income and expenses. Their definitions in accordance with IFRS were given above.

The concept of accounting of the Russian Federation provides the same list of elements characterizing the financial position as in IFRS, but the wording of the concept is much shorter than in IFRS, and do not contain explanations and examples.

In contrast to the concept, in legislative ActsRegulating accounting and reporting in the Russian Federation, there is no definition of categories of "assets", "obligations" and "capital". The Federal Law "On Accounting" states that the objects of accounting are the property of organizations, their commitments and economic operations carried out by organizations in the process of their activities (ch. 1, Article 1).

In the accounting office "Accounting reporting of the organization" (PBU 4/99) there is also no interpretation of an asset and a balance liability as household agents and their sources. At the same time, capital is considered as one of the types of liabilities (until recently, the losses of previous years were generally considered in Russian legislation as assets).

Thus, the interpretations of balance elements in domestic standards do not coincide with their interpretations in IFRS. The only document in which they are close to international standards is the concept. However, stated in the concept of interpretation of assets, obligations and capital are not consistent with regulatory acts, as a result there is no mechanism for their implementation in practice.

Reporting items are recognized only if they satisfy the criteria for recognition, i.e. There is a possibility that any economic benefit associated with it will be obtained or lost by the company, as well as the element has a cost or evaluation that can be securely measured.

IN russian concept The criteria for the recognition of assets and obligations are also indicated, but there is no interpretation of capital recognition, since there are no articles on the concept of capital and the concept of its maintenance. Criteria for the recognition of assets and liabilities in the concept coincide with the requirements of IFRS. However, they remain proclaimed only in the concept, in practice, in any regulatory act there is not even a term "recognition of reporting elements". The reflection of the elements in the balance sheet of Russian accounting is carried out on the basis of primary documentsdecorated in accordance with unified forms. In practice, there is no possibility to apply the professional judgments of accountants to determine the likelihood of obtaining or losing economic benefits. Thus, proclaimed in the concept approach to the recognition of assets, commitments and capital, despite the similarity with IFRS, is only declarative.

In accordance with IFRS, reporting elements may be evaluated in accounting, using the following methods:

• The actual cost of acquisition or initial cost;
• Current or replacement cost;
• Possible value of sale or repayment;
• Discounted or presented value.

A list of possible assessment methods established by the concept coincides with the list of IFRS, but their interpretation in the concept, unlike IFRS, is given only for assets. The dissemination of these methods on the commitment in the concept does not mention. The definition of the discounted value is generally absent in the concept, therefore it remains only to assume the analogy of this method in the concept with the IFRS method of the same name.

In Russian regulations, various assessment methods are contained for specific balance sheet items, such as, for example, in the Regulation on accounting and accounting reporting in the Russian Federation. The most common is the actual cost, although in some cases other estimates are used permitted by the legislation of the Russian Federation. It should be noted also great degree Regulation of evaluations of reporting elements in Russian legislation compared with IFRS requirements. In many cases, IFRS is allowed to evaluate the balance sheet items on the basis of the professional judgment of the accountant, taking into account the peculiarities of the enterprise, the interests of users and the fundamental principles of IFRS. In domestic practice, the assessment of any balance sheet article is carried out strictly in accordance with the requirements of the Regulation. Currently, many of these requirements are significantly close to the requirements of IFRS.

Elements reflecting the financial results of the enterprise are income and expenses. Income is the increment of economic benefits during the reporting period, which is happening in the form of inflows or an increase in assets or reduce obligations, which is expressed in increasing capital not related to the contributions of members of the share capital. It is necessary to note the larger similarity of the enterprise incomes in the concept, PBU 9/99 and IFRS.

According to IFRS, revenue is divided into income from ordinary activities (revenue) and other income. In IFRS, there is a conditional nature of revenue assigning income to a particular group, depending on the specific activity of the Company and the unified nature of various income articles on economic nature, as they all represent an increase in economic benefits.

Unlike IFRS in the concept, the classification of income articles is considered briefly, it does not reflect the meaning of the income on income from the main activity and other. It is much more detailed a classification of income articles in PBU 9/99. Similar to IFRS in PBU 9/99 Revenues are divided into income from ordinary species Company activities and others. The principle of carrying out revenues to a specific group is the same as in IFRS, based on the nature of the enterprise and its operations. Similar to IFRS in PBU 9/99, there is an indication of revenues for income from ordinary activities for different enterprises: the same income may be the main for some enterprises and others for others (for example, rent, etc.). In PBU 9/99, other incomes are divided into three groups: operational, non-engineering and extraordinary income, but the economic essence is not characterized. Instead of strictly defining the criterion for revenues to one or another group in PBU 9/99, an open list of examples of operating, non-engineering and emergency revenuesAt the same time, the principle of grouping income remains uncertain, which may result in different users.

Criteria for recognizing income in IFRS and concepts are similar. According to PBU 9/99 (clause 12), the criteria for recognition of revenues include five points that apply to all types of revenues. (The exception is only a proceeds from the provision of asset for the fee to the recognition of which only three points from five are required.). A comparative analysis of these criteria is shown in Table 5.

Table. 5. Criteria for recognition of revenues in accordance with IFRS and Russian practice.

In general, these definitions are similar, although in relation to the first criterion it should be noted that the moments of the transition of significant risks (IFRS) and the transition legal rights (Russian practice) may vary. PBU does not provide for an analysis of substantial risks associated with the property for goods.

Criteria for incorporating expenses in reporting in IFRS and concepts are comparable. The concept is present additional condition On the independence of recognizing the flow rate from the taxable base. In PBU 10/99, all the requirements for recognizing the costs set forth in the concept, however, in addition to these requirements, the PBU contains an additional condition that "expenses are recognized in accounting in the presence of the following conditions: consumption is carried out in accordance with a specific contract, the requirement of legislative and regulatory acts. , customs of business turnover. " That is, in contrast to IFRS, consumption cannot be recognized only on the basis of the professional judgment of an accountant about decreasing economic benefits and must be confirmed documented. Paragraph 18 of PBU contains the possibility of recognizing the cost of the cash method, which does not correspond to IFRS.

Thus, despite the noticeable approach of IFRS and Russian standards, some problems are still unsolved, such as, for example, the rigid regulatory regulation of many issues of accounting for the financial results of the enterprise. Despite the statements about the independence of the submission of financial results in reporting on tax purposes, in practice the fiscal orientation of accounting is preserved. Thus, there are significant problems today regarding the reflection of financial statements in accordance with IFRS.

1.3. Composition of financial statements

Table 6 shows a comparison of the composition of the financial statements that organizations should be provided in accordance with IFRS and Russian legislation.

Table. 6. Composition of financial statements under IFRS and russian legislation.

The reporting on Russian legislation is given in accordance with the regulatory acts of the Ministry of Finance of the Russian Federation. It should be noted that the Federal Law "On Accounting" provides for the following accounting reporting:

• balance sheet;
• gains and losses report;
• applications to them provided for by regulatory acts;
• audit report confirming the accuracy of the organization's accounting reporting if it is in accordance with federal laws subject to compulsory audit;
• explanatory note.

Thus, the federal legislation is a report on capital changes and a report on cash movements are considered as part of the accounting balance sheet applications and the income statement.

Curious the fact of inclusion in the reporting of the audit conclusion on Russian standards. Many specialists emphasize the incorrectness of such an inclusion, because it turns out that the audit conclusion should contain an opinion, including itself.

It is necessary to note the difference in terminology: international standards are the standards of financial statements, while in Russian practice the reporting is called accounting.

Special attention is required to comply with IFRS reporting. Reporting corresponds to IFRS, if it is prepared in accordance with all standards and interpretations, if necessary. The fact of compliance of IFRS should be reflected in the financial statements. At the same time, the compliance of IFRS means that the reporting satisfies all the requirements of each applicable standard. Conversely, financial statements cannot be characterized as appropriate IFRS if there are any significant deviations from standards and explanations to them regarding accounting and disclosure. The presence of national standards contrary to IFRS, as well as disclosure of accounting policies and the inclusion in the reporting of the relevant explanations is not considered an excuse for deviations from the requirements of IFRS.

At the same time, it is envisaged that in exceptional situations it may be necessary to retreat from IFRS. Such situations arise when the application of international standards may result in distorting information about individual economic operations. In this case, financial statements must contain:

• opinion of the company's management on the need for deviations from IFRS;
• a detailed explanation of the reasons for which the application of these standards can lead to distortion of reporting;
• description of the rule prescribed by IFRS, and the actually used accounting scheme;
• an assessment of the influence of this deflection on the amount of assets, obligations, capital, profits (loss) and cash flows for each period presented in the reporting.

Knowing all the facts of deviations from IFRS allows the user to draw up its own opinion on reporting and calculate the amount of amendments necessary to bring reporting in accordance with IFRS. An important role in the execution of the described rule belongs to the auditors who are obliged to express the opinion whether the reporting is indeed compiled in accordance with IFRS, i.e. Make sure and confirm that the reporting meets all the requirements of each individual standard.

In addition, IFRS establishes a rather hard approach to the choice of accounting policies. In this process, the company should focus on the rules prescribed by IFRS. In the absence of those for individual operations, the company's management has been developing accounting policies, when using the financial statements will contain full and unbiased information necessary to make decisions, reliably reflect the results of the company and the Company's position, as well as the economic content of operations (and not their legal form) . In the absence of specific requirements for individual operations, it is necessary to navigate the requirements adopted for similar operations and general principles IFRS systems. It is also allowed to use sectoral accounting rules and standards issued by other bodies, but only to the extent that their requirements do not contradict IFRS. This makes it possible to apply, in particular, US GAAP, since the latter contain detailed accounting rules for many complex operations.

The approach adopted in IFRS is designed to eliminate excessively wide interpretation of standards, as well as the situation when the published financial statements contains an indication that it is prepared in accordance with IFRS, although in fact not all requirements of standards are observed. Most often, such situations arise with regard to information disclosure requirements (operations with related parties, geographical and operating segments).

1.4. Balance sheet

International standards do not provide any standard form of balance and only the range of mandatory balance sheet items is determined:

• fixed assets;
• intangible assets;
• financial assets;
• investments, taken into account by the method of participation;
• stocks;
• trade and other receivables;
• cash and their equivalents;
• debt of buyers and customers and other receivables;
• tax liabilities;
• reserves;
• long-term obligations that include interest payments;
• minority share;
• released capital and reserves.

In Russia, the form of balance is enshrined by law (Order of the Ministry of Finance No. 67 of July 22, 2003 "On the forms of Accounting Reporting"). There are a number of differences in the disclosure of the balance sheet items, which are given below.

Key differences in respect of fixed assets concern depreciation. In accordance with international accounting standards, the company's management is allowed to independently determine the deadlines for the service of fixed assets, depending on whether the enterprise suggests them during the time. Although PBU 6/01 "Accounting of fixed assets" is also spelled out that the organization itself determines the term useful use Main fundamentals, in the practice of an organization for accounting purposes, continue to use depreciation standards, established by the decision of the Council of Ministers of the USSR of October 22, 1990 No. 1072 "On the uniform norms of depreciation deductions to the full restoration of fixed assets national economy THE USSR". In connection with the adoption of chapter 25 Tax Code Many enterprises use a new classification of fixed assets established by the Decree of the Government of the Russian Federation of January 1, 2002 No. 1 "On the classification of fixed assets included in depreciation groups", i.e. Preference is given tax account. The difference in the service life leads to discrepancies in magnitude residual value 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 6/01 "Accounting of fixed assets", depreciation can be made one of four ways Depreciation charges:

• linear way;
• a method of reduced residue;
• a way to write off the cost of the number of years of useful use;
• the method of debiting value is proportional to the volume of products (works).

In IFRS 16 "fixed assets" three methods are provided:

• uniform accrual;
• reduced residue;
• method of product amount.

However, Russian enterprises in practice again are mainly used linear methodprescribed by the Tax Code.

An important difference is that in Russian accounting does not use a regular analysis of assets for impairment, while IFRS 36 "Impairment of Assets" applies to a large number of assets recognized in the balance sheet (intangible assets, fixed assets, investment). The main task of this standard is to ensure a real assessment of assets in the financial statements by recognizing a loss from their impairment (cost reduction, value), when a net balance value exceeds the recoverable amount. The loss is recognized in the report on profits and losses during the reporting period, and if the asset was previously revalued, it refers to a decrease in reserve reserve. IFRS 36 provides for a number of possible signs of impairment, the availability of which the company should check for each reporting date, using a number of external and internal sources of information. When identifying at least one of them, it is necessary to estimate the recoverable value of the asset to determine the impairment loss.

The Russian rules are not provided for recognition of this loss. In PBU 6/01, there is a markdown of fixed assets on the results of the revaluation, while the amount of markdown refers to the account of the accounting of retained earnings ( uncoated loss) or to reducing the additional capital of the Organization formed by the amounts of the accommodation of this facility conducted in previous reporting periods. However, Russian standards do not put a regular analysis of assets for impairment and recognition of losses in the reporting year.

Definitions of intangible assets according to IFRS 38 "Intangible assets" and PBU 14/2000 "Accounting for intangible assets" in general correspond to each other, although there are some differences. The first is that, according to PBU, intangible assets (NMA) should be used for a long time, i.e. Have a useful life for more than 12 months. IFRS does not provide temporary criteria for recognizing intangible assets, i.e. Presums a more flexible approach. The second difference is that, in accordance with paragraph 3 of PBU for the recognition of the NMA, it is necessary to have adequately executed documents confirming the existence of the most asset and exclusive right among the organization for the results of intellectual activity (patents, certificates, other security documents, a concession contract (acquisition) of a patent, commercial sign, etc.). In IFRS 38 there is no requirement for legal rights, because The main criterion is the ability to monitor future economic benefits from the use of NMA, because The company can control these benefits in other way (IFRS 38.13).

As a result of the inconsistency of the definitions, there are a number of differences in the recognition of certain NMA objects in accounting. For example, PBU 14/2000 refers to NMA organizational costs. In accordance with IFRS 38, organizational costs are not recognized by NMA, because They are not directly related to the receipt of economic benefits from them. Despite the fact that the costs of the organization's institution are produced in order to obtain future economic benefits, there is no real likelihood of their receipt at the time of creation of the company - the company may be, for example, unprofitable.

In the Russian system, taking into account the assets created by the enterprise itself, such as the cost of their own software created, "know-how", the exclusive right to the trademark 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. Internally created trademarks should not be recognized in NMA at all, since the costs of them cannot be distinguished from the cost of the development of the company as a whole.

PBU 14/2000 refers to the NMA business reputation of the organization. IFRS 38 distinguishes the internally created business reputation and business reputation arising from the association of companies. Internal business reputation is not recognized by NMA and is not at all reflected in accounting as an asset, since it is not an identifiable resource and cannot be reliably measured. Business reputation as an asset arises and is reflected in accounting only when buying another company entirely as a property complex. In this case, the organization joins all assets and obligations of the acquired company, paying for it a certain fee. The difference between the amount paid and the cost of acquired assets and liabilities is a business reputation. Despite the fact that IFRS 38 unambiguously requires reflecting a positive business reputation as an amortized asset, while business reputation is shown on a separate line In the section of non-current assets. Unlike IFRS, 38 PBU 14/2000 does not distinguish between the internally created and acquired business reputation.

Another important question is - accounting for research and development 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 those are followed the following conditions (In such cases, they must be considered as NMA):

• 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;
• there are sufficient resources, or their availability can be demonstrated to complete the project, selling or using the product or process;
• the costs attributed to the product or process can be reliably appreciated.

In Russian accounting, R & D costs may be capitalized both by OCC and NIR in the case of a positive result. Since the presence of a positive result does not mean definitely the possibilities of using or selling research results and developments, it is necessary to recognize a significant difference in the qualifications of these objects in Russian accounting on the requirements of IFRS. 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. For PBU 14/2000 Business reputation is the difference between the purchase price of the organization and the cost of the balance of all its assets and obligations. IFRS 38 Business reputation is defined as the cost of purchasing a purchase company over the fair value of acquired assets and obligations. Fair value on international standards is the amount on which the asset can be exchanged when making a transaction between well-aware, who want to make such an operation by the parties. The fair value of objects can differ significantly from their book value. Thus, the difference between the fair and book value of assets and obligations of the acquired organization leads to different estimates of the value of business reputation in Russian and international standards.

Similar to fixed assets, in Russian accounting does not provide for regular NMA analysis for possible impairment (IFRS 36). Also a list of disclosed information in reporting in IFRS is wider than in Russian accounting.

Thus, in relation to intangible assets between Russian and international standards there are differences in almost all indicators. Perhaps the Russian National Standard and should not be a complete copy of the relevant international. However, the interaction of domestic organizations with foreign partners requires an understanding of the reporting of our companies by foreign user. NMA is one of the most complex accounting objects, their intimators, problems with identification and evaluation can lead to ambiguous reporting interpretation.

You can distinguish a number of differences when taking into account material and stockpiles. Inventory accounting is regulated by IFRS 2 "Reserves" and PBU 5/01 "Accounting of material and production reserves." PBU 5/01 instructs to evaluate the MPZ at actual cost. And at the end of the reporting period material- productive reserves must be overestimated: "Materially - production reserves that are morally outdated, fully or partially lost their initial qualityor the current market value, the value of which has decreased, is reflected in the balance sheet at the end of the reporting year less the reserve for the reduction of cost material values" 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 accordance with IFRS 2, stocks should be assessed by the smallest of two quantities: cost and possible net sales prices. At the same time, in accordance with IFRS, the possible price of sales is calculated less expenses for sale (which is not provided by PBU).

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, in international practice 3 methods are provided:

• FIFO method (main accounting procedure);
• The weighted average (main accounting procedure);
• Lifts method (permissible alternative accounting procedure).

The Liflow method will be canceled in the near future as part of the CMFO project to improve the quality of standards.

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. The Russian accounting system requires that both current and long-term investments be presented in the balance sheet 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 cost 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 (ie, the amounts that will be obtained as a result of the sale of investments in the 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.

There are differences in the approach to creating a reserve for doubtful receivables. When creating a reserve, Russian enterprises are mainly guided by Article 266 of the Tax Code, as a result of which this approach suffering from formalism. Russian accounting standards and reporting provide for the creation of reserves only with respect to specific debt. IFRS permits the possibility of creating a common reserve for all receivables, for example, as a percentage of net implementation. 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.

1.5. 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. The most common example of inconsistencies - many Russian enterprises recognize the revenue not by shipping date, but by the date of invoice, which may be written 2-3 weeks after the shipping date (when, for example, the price of products is calculated based on any indicator for the period time before and after the date of the invoice).

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 moment of product payment 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 sales is determined, as a rule, only at the time of shipment, as in international practice.

Another distinction between the new Russian form of a report on financial results and a report on the profit and loss of IFRS format is the reflection of depreciation and expenditures on labor. According to IFRS, if companies disclose a profit and loss statement using the cost assignment method, i.e. According to the functional sign of expenses (the most widely used in practice), they must additionally disclose data on depreciation and labor costs. In Russian practice, these expenses are disclosed in an annex to the accounting balance (form 5).

Some differences in the cost of the products sold should also be allocated. In accordance with IFRS, commercial expenses and, in general, general expenses (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 may be included in the cost of realized products, if provided for accounting policies. Therefore, for example, wiring general expenses At the cost of production (debit 20 - loan 26) is not entirely correct, and it is necessary to make correction records, disclosing these costs separately. Separately, attention should be paid to the reflection of taxes, except for income tax, in the income statement. In Russia, these taxes are usually included in different lines: for example, customs fees, taxes on road users (now it is canceled) reflected in the line of management or commercial expenses, while property tax and advertising tax usually are included in other expenses. Also, the Russian report on profit and loss does not include export customs duties (they are excluded from revenue from costs) and excise taxes, so that users of reporting are not able to estimate the amount of duties that can be very significant for some companies. According to IFRS, excise taxes are shown in revenue separately, duties may also be shown in revenue, if provided for by accounting policies.

Large theoretical and practical interest is invoking Barter. In the Russian economy, Barter plays a much more important role, rather than on an international scale. For example, Barter's share in the revenue of RAO UES of Russia in 2002 was 22%. According to IFRS, if the goods or services are exchanged for other homogeneous and similar goods 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 (for example, mutual supply of petroleum products). In cases where heterogeneous goods occurs, for example, trucks exchange for steel rolling, revenue should be assessed at the fair value of the goods received (services) adjusted for the amount of cash transmitted or their equivalents. If it is impossible to estimate the fair value of the goods received (services), the revenue is evaluated at the cost of transmitted goods (services) adjusted to the amount of cash transmitted or their equivalents. In the Russian accounting system, barter operations are always considered as a realization, and the exchange rate of homogeneous and heterogeneous goods is not considered. Consequently, when exchanging goods to similar goods, such transactions should be excluded from the implementation determined by international standards.

In accordance with Russian standards, income and expenses obtained and incurred by different operations are recorded: operations with securities, materials, fixed assets, coursework and summits, taxes payable, fines and penalties to pay or to obtain, etc. d. According to IFRS 1 (p. 36), revenue and costs for non-core activities should be shown rolled. Therefore, for the purpose of transformation of financial statements, it is necessary to obtain decryption of these rows by types of expenses and income and curts only those incomes and expenses that relate to the same operations: as a rule, it relates to operations on the implementation of fixed assets, materials, and also to the course and sums differences.

1.6. Cash Movement Report

Report on profit and loss in international practice is preparing under IFRS 7 "Reports on cash flow", in Russia - in accordance with the Order of the Ministry of Finance of the Russian Federation of June 28, 2000 N 60N "On the methodological recommendations on the procedure for the formation of indicators of the accounting reporting of the organization". For maintenance activities, the fulfillment of obligations and ensuring the company's profitability is needed. Ability to generate cash flows - the most important indicator financial condition. Money traffic report provides information to evaluate these indicators, as well as understand changes in clean assets Companies, It financial structure (including liquidity and solvency), the ability to regulate the time and density of cash flows in the conditions of constantly changing external and internal factors. The inclusion of a cash flow report to financial statements allows modeling the current value of future cash flows for a comparative assessment of companies.

In accordance with IFRS 7, "Cash Movement Reports" in the cash flow report reflects changes not only in cash, but also in cash equivalents. Monetary equivalents include short-term and highly liquid investments, freely reversible in a predetermined amount of funds with a minor risk of cost fluctuations. Investments recognized by cash equivalents are kept on the balance sheet not so much to obtain investment income or control over the activities of the investment object, but to ensure the execution of short-term liabilities. This is a kind of cash management. Equivalents of funds include investments with a short time of treatment, as a rule, not exceeding three months before the repayment date. With longer duration of the appeal, the appropriate investments usually do not meet the demands of the risk of value fluctuations.

There is no concept of cash equivalents in the Russian practice. The rules for drawing up a cash flow statement refers to the funds taken into account at the office of the organization, on settlement, currency and special accounts. Short-term deposits in banks are included in the short-term financial investments. There is no requirement to disclose restrictions on the use of funds reflected in the reporting, as well as the amount of money.

There are significant differences in the methods of preparing information - Russian rules provide for only the direct method (a growing outcome since the beginning of the year), and IFRS - direct and indirect. The indirect method is more common in world practice as a method for making a report on cash flow. It includes elements of analysis, as it is based on comparison of changes in various articles accounting balance During the reporting period, characterizing the property and financial position of the Organization, and also includes the analysis of the movement of fixed assets, their depreciation and other indicators that cannot be obtained exclusively from the accounting balance data. As a result of the application of an indirect method, the financial result (net profit) of the organization for the period is transformed into a difference between the values \u200b\u200bof the funds at the disposal of the organization as of the beginning and end of the reporting period. It should be noted that in the preparation of consolidated reporting, the direct method is low-rotable, because Requires large costs of obtaining the necessary information on each of the consolidated enterprises.

According to IFRS, when reflecting cash flows in foreign currency, their value is recalculated in the reporting currency at the rate adopted at the cash flow date. According to Russian standards, in the case of the presence (movement) of funds in foreign currency, the calculation is first drawn up in foreign currency for each of its form. After that, the data of each calculation drawn up in foreign currency is recalculated at the rate Central Bank Of the Russian Federation at the date of compiling accountability. The obtained data on individual calculations are summed up when filling out the corresponding report indicators.

There are differences in the order of classifying data by type of activity. In accordance with IFRS 7 financial activities - this activity that leads to a change in the amount and composition of own capital and borrowed funds of the company, and investment activities - Acquisition and sale of long-term assets and other investments that are not related to cash equivalents. According to Russian standards, investment activities are activities related to the capital investment in connection with the acquisition land plots, buildings and other real estate, equipment, intangible assets, other non-current assets, as well as selling them; With the implementation of long-term financial investments in other organizations, bonds, other securities of a long-term nature, etc. Financial activities are the activities of the Organization related to the implementation of short-term financial investments, bonds, other short-term securities, disposed of shares, bonds previously acquired for a period of 12 months. Based on the considered definitions, monetary receipts in Russian practice when issuing short-term bonds are classified as financial activities, and long-term - as an investment. In IFRS, funds attracted as a result of the emission of bonds are classified as financial activities.

Table 7 shows the main differences in the approaches to the classification of activities.

Table. 7. Classification of certain types of income statement on IFRS and Russian standards.

Thus, there are also significant differences between the Russian and international standards of financial statements regarding the cash flow report.

1.7. Other differences

Consolidated (summed) reporting. One of the key differences between IFRS and the Russian accounting system is the differences in the preparation of consolidated or consolidated reporting. The term "consolidated" is used in IFRS, "Consolidated" - in Russian legislation. The need to compile consolidated accounting reporting is provided for by the Regulation on accounting and accounting reporting in the Russian Federation, (by order of the Ministry of Finance of Russia of July 29, 1998 N 34N). It says that in the case of the organization of subsidiaries and affiliates, in addition to its own accounting report, consolidated accounting reports are also drawn up, including indicators of reports of such societies in the Russian Federation and abroad, in the manner established by the Ministry of Finance of Russia.

This order is set Methodical recommendations According to the preparation and presentation of consolidated accounting reporting (approved by the Order of the Ministry of Finance of Russia of 30.12.1996 N 112). In paragraph 1.3 of the recommendations, three conditions were identified under which the accounting statements of a subsidiary society is included in the consolidated accounting statements:

• the headquarters have more than fifty percent of the voting shares joint Stock Company or more than fifty percent authorized capital limited liability companies;
• the headquarters have the ability to determine the decisions taken by subsidiaries, in accordance with the contract between the head organization and the subsidiary;
• in the case of a head organization of other ways to determine decisions taken by subsidiaries.

The company may not be a summary accounting reporting, if the following conditions are also complied with:

• consolidated accounting reporting is based on IFRS;
• The group ensured the accuracy of the consolidated financial statements compiled on the basis of IFRS;
• an explanatory note to the consolidated accounting reporting contains a list of applicable requirements of accounting reporting, discloses investigating methods, including estimates that differ from the rules stipulated by regulatory acts and methodological instructions on accounting of the Ministry of Finance of the Russian Federation.

IFRS is primarily oriented, first of all, to draw up a summary reporting, because Only consolidated financial statements ensures the fulfillment of the main objective of reporting - the provision of reliable and objective information on the financial position of the Company, the financial results of its activities and changes in them. It is the summary reporting that gives a clear idea of \u200b\u200bwhich assets really control certain shareholders, taking into account subsidiaries. As a rule, individual financial statements are needed primarily for regulatory authorities.

Russian recommendations do not affect a number of important issues arising from the preparation of consolidated statements. The Ministry of Finance of the Russian Federation considers one of its priority costs to develop PBU for summary reporting, which must eliminate most of the existing differences.

According to IFRS 22 "Association of Companies" there are two methods of accounting for the association of companies: the purchase method at which the buyer is determined, the cost of purchase and the distribution of the established value for identifiable assets and obligations is carried out, and the method of combining interests, which is applied in those rare situations when the buyer is not Can be defined. The choice of the method does not depend on the legal form of the transaction. For example, when reorganized in the form of a merger of two independent companies, a purchase method is applied if, in fact, this operation is purchased and corresponds to the definition provided for by IFRS. In the Russian rules, issues of combining activities (business) of two or more companies have not yet been developed. At the same time, it should be noted that KMSFO plans to cancel the method of combining interests within the project to improve the quality of IFRS. Obviously, to develop Russian PBUs, it will be necessary to analyze these changes that will be made in the near future.

According to the recommendations (Order of the Ministry of Finance of Russia of 30.12.1996 N 112, paragraph 1.8) some parent companies may not amount to summary reporting in cases that are not provided for in IFRS. In Russian standards, the rules for the consolidation of so-called specialized companies are not prescribed. This question is currently very relevant due to the ubiquitous use of such companies. As a rule, specialized companies are offshore companiescreated for the implementation of complex financial operations. Manipulation when reflecting such operations was widely used in cases with ENRON and PARMALAT. The CMSFO and the American Council for the Development of Financial Accounting Standards are currently working to revise the accounting standards of specialized companies.

By russian rules Cost assessment of the participation of a head organization in a subsidiary of a bank or other credit Organizationmay be reflected in the consolidated accounting statements in the manner prescribed to reflect the investments in the dependent society. The validity of this is confirmed by an independent auditor. That is, if the group includes a bank (and this is a very frequent phenomenon for large industrial groups), its results are not consolidated into the results of the Group on the general reasons. According to IFRS 27, the elimination of a subsidiary from consolidation due to the fact that its activities differ from the activities of other group companies, unnecessar, as the reporting of subsidiaries and the disclosure of additional information about the various types of their activities in the consolidated financial statements ensure better information.

Accounting inflation. According to IFRS 29 "Financial statements in hyperinflation" financial statements of the company reporting in the currency of the country with a hyperinflation economy, should be represented in units of measurements operating at the reporting date. That is, information for the reporting period and comparative data for previous periods are recalculated taking into account changes in the general purchasing power The currencies in which financial statements are expressed.

Signs of hyperinflation:

• Most of the population prefers to keep their savings in non-monetary form or in a relatively stable foreign currency. Funds in local currency are immediately invested to preserve purchasing power;
• Most of the population express money sums Not in local currency, but in a relatively stable foreign currency. Prices may be indicated in this foreign currency;
• Sales and purchases on credit are produced at prices that compensate for the estimated loss of purchasing power during the term of the loan, even if this period is short-term;
• Interest rates, wages and prices are associated with price index;
• The cumulative growth of inflation for three years is approaching or exceeds 100%.

Until 2003, Russia responded to these criteria, respectively, the reporting should be adjusted in accordance with the requirements of IFRS 29. in 2000-2002. Inflation rate (calculated on the basis of the index consumer prices) amounted to 20.1%, 18.8% and 15.1%, respectively. Thus, for 3 years, inflation was 64.3%. The remaining signs of hyperinflation also do not fully correspond to the state russian economy. This means that since reporting for 2003, IFRS 29 may not be applied to Russian companies.

Russian rules do not provide for the adjustment of the accounting reporting data on the level of inflation, which is one of the reasons for incoming it with IFRS, there is no requirement to recalculate these financial statements of subsidiaries expressed in the country's currency with a hyperinflation economy.

Accounting exchange rates. In Russia, the procedure for taking into account operations in foreign currency was defined in PBU "Accounting for assets and liabilities whose cost is expressed in foreign currency" (PBU 3/2000), in IFRS, it corresponds to IFRS 21 "Influence of changes in exchange rates". You can select several basic differences between these standards.

According to the PBU, the currency transactions are translated into rubles at the official rate of the Bank of Russia, IFRS does not specify, at what course the operation should be recalculated (i.e., admits the use of the average course).

IFRS provides for a permissible alternative method of accounting for exchange differences, which appear due to a serious reduction in currency value, which affects the amount of obligations arising from the recent acquisition of assets for foreign currency. Such a termal difference should be included in the carrying amount of the asset when complying with certain conditions. PBU 3/2000 does not specify similar cases.

In PBU 3/2000, the procedure for accounting for exchange differences related to the formation of statutory (share) capital is particularly stipulated. Such course differences should include an account. Extra capital».

IFRS provides a special procedure for recalculating currencies on the reporting of foreign subsidiaries included in the consolidated reporting. To do this, it is necessary to recalculate all assets and obligations of the company at the final course, and the costs of expenses and income - at the rate at the date of operation. Currency differences arising from this should not be on expenses or revenues of the reporting year, but on the company's own capital until the implementation clean investment. This procedure is not provided for in PBU 3/2000.

§ 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 transformational tables in the main part of accounting. For example, under the compilation of consolidated reporting of RAO UES of Russia for 1998, 28 such tables were developed. There are five main transformation tables:

• Consolidated table of ruble corrective (transformation, correctional) postings;
• Summary table of currency corrective postings;
• Summary table of balance transformation;
• Summary table of corrective postings on rearrangement of articles of profit and loss reports;
• Summary tab of the transformation of the profit and loss report.

Tables are deciphering financial statements prepared on the basis of Russian standards in the form that allows you to automatically make a number of amendments to bring data into an international format.

The main methods used in the reporting transformation:

• Details of residues are necessary for the correct classification of residues for IFRS purposes (for example, the classes of fixed assets), the release of intragroup residues eliminated during consolidation.
• Reclassification of residues - is the distribution of Russian accounting data in IFRS format (for example, highly liquid investments are reconceded in cash equivalents);
• Revaluation of residues - adjustment of balance sheet balances, which enhancement of simultaneous changes in equity: profits and losses of the reporting year, retained earnings (accumulated loss), additional capital and other articles of equity (for example, write-off of non-liquid reserves or inflationary amendments).

The disadvantages of such a transformation method, in addition to possible errors, include the fact that the information prepared for IFRS can only be obtained at the end of the period, and after the completion of the main transformation process, you have to make "manual" 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 accounts of accounts: 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 plans accounts;
• various methods and rates of depreciation of fixed assets;
• features of documentary recognition of debt and money (for example, according to Russian cash account standards are updated on the basis of bank statements, and IFRS based on 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 side of the wide circle of accountants and consultants.

International Financial Reporting Standards (IFRS) were created to provide interested users with objective and reliable information. However, IFRS it is possible to find the necessary loopholes - including those that allow you to increase the profit indicator.

Today in Russia is gradually developing stock marketAnd investors are trying to invest in potentially more profitable companies. Thus, the first place is the profitability indicators and their dynamics: the higher the profit, the higher the stock price. From here and the task of maximizing profits is arising (under this we will understand its increase due to exclusively accounting methods).

High profits are important to enterprises and to attract borrowed funds. What it is more, the greater the confidence of potential lenders, that interest-interest obligations and the principal debt will be repaid on time.

Methods of profit maximization can be divided into two large groups. The first includes ways to redistribute the company's profits between the reporting periods. That is, the total amount of income and expenditure on the operation remains constant, but only the time of their recognition changes. The second group includes methods with which income increases or the expenses of the company are reduced.

Particularly indicate a number of methods that allow redistributing income and expenses between operating and other. In this way, you can increase operational profit, that is, profit from the main activity. Its high value indicates financial Sustainability Companies. Basically, these methods refer to the second group, but they are found in the first. So, the write-off of interest on loans on the expenses of the period allows you to increase the gross profit.

Redistribution between periods:

A) depreciation of non-current assets.

Perhaps this is the most famous way, therefore it makes no sense in detail in detail about it. We only note that the linear depreciation method allows to increase the profits of the reporting period compared with the accelerated methods (over the sum of the number of years and the reduced residue).

B) Accounting for interest on loans.

In accordance with IFRS 23 "Loan costs", there are two interest accounting procedures: the main and alternative. With the main procedure, the costs of loans are recognized by the expenses of the period in which they were produced, regardless of conditions loan agreement. In accordance with an alternative procedure, the costs directly related to the acquisition, construction or production of an asset are included in its value. Consequently, when choosing an alternative order, there is an increase in current profits by reducing the future.

C) R & D costs.

For the purpose of compiling reports under IFRS, all R & D is divided into research and development. Research suggests obtaining new scientific or technical knowledge. Developments are the use of knowledge in order to design the production of new products. The order of accounting for the costs of these two stages is next. Studies are recognized as expenses at the time of their occurrence. Development costs are capitalized when performing a number of conditions, one of which is the company's intention to complete the creation intangible asset. If an enterprise cannot distinguish between research and development stages, then all costs are considered to be research costs. Therefore, it is possible either to attract all costs of the period costs, or capitalize part of the costs (related to the development stage), increasing the current profits.

Increase in income:

BUT) Sale of non-current assets with subsequent purchase.

If the carrying amount of the asset is significantly different from its fair assessment, the company can reassess the asset. However, then the rise in value will be reflected as an increase in equity (section "Revaluation Results" - analogue of the Russian account "Extreme Capital"). Subsequently, the amount of accounting can be written off on retained profit. But even then this value will be reflected in the report on the movement of capital, that is, net profit remains unchanged for the year.

If the company sells an asset, then the value of exceeding market value over the balance sheet will be recognized as part of income as a profit from the sale of an asset. However, the company cannot simply sell an asset - after all, then its production capacity will be reduced, so a subsequent purchase is necessary. The problem can be solved in two ways: either reverse ransom from the same counterpart at the same price, or the acquisition of a similar asset at market value. In the second case, the company at the same time will update its production Funds. This method partly redistributes profits between periods, because After increasing the cost of non-current assets, depreciation costs will increase.

B) Classification of financial investments.

According to IFRS, financial assets are divided into four categories: intended for sale; retained to repayment; loans and receivables; In stock For sale. We are interested in the first and fourth groups. The principal difference between them consists in the following. If the asset is intended to extract profits as a result of short-term price fluctuations, then it refers to the first group. If not, then to the latter (provided that it does not fall into the second or third category). Both groups are accounted for at fair value. Revenues (losses) from their revaluation are in profits - for trading financial assets; on profits or increase (reduction) of capital - for financial assets available for sale.

Thus, in accounting financial investments, two ways to increase income are possible. The first consists in the classification of financial assets available for sale, as trading - check the criteria here is very problematic. The second way implies consolidation in the accounting policy of the Regulation, according to which the income from the revaluation of financial assets is available for sale pure profit for the period.

Reducing costs:

BUT) Losses from assets impairment.

According to IFRS 36 "Impairment of assets", an impairment loss (excess of the book value of the asset over it real value) Must be taken into account as a consumption in the income statement. Thus, when impairing assets, the company's profit decreases. How can you avoid such a situation? To do this, you need to "create" the reassessment of an asset reflected as an increase in the company's capital. Then an impairment loss will be reflected not as a consumption, but as a decrease in the company's capital (section "Revaluation results"), that is, it will not fall into a profit and loss statement.

B) Overheads.

We are talking about the constant overhead costs attributable to the cost of inventory. The basis for their distribution to the cost finished products An indicator of production volume under normal conditions, calculated on the basis of data for several periods. The fluctuations of constant overhead costs can lead to the emergence of underdeveloped amounts. They should be written off on the costs of the reporting period. That is, manipulating the indicator of normal production facilities, it is possible to reduce the cost of production. Thus, gross profit will be increased. If necessary, you can also produce a reverse operation, that is, to reduce the costs of the period and increase the cost.

C) write-off receivables.

Strictly speaking, this method is both reducing costs and redistributing them between periods. This is due to the presence of two ways to write off receivables: reservations and direct write-off. With the reservation method, the company creates a reserve for losses on hopeless debts. To redistribute costs, you just need to install the desired reservation percentage. The fact is that IFRS does not rigorously regulate its magnitude.

With the direct write-off method, receivables refers to expenses at the moment when it becomes obvious that it will not be obtained. That is, expenses are recognized only in part lightweight debt. Thus, the choice of this method allows, on the one hand, reduce costs, since it is likely that not the entire amount of the reserve will be used. On the other hand, expenses are redistributed between periods. The fact is that with the reservation method, they are recognized earlier - at the time of the delay in receivables or even until the time of payment is offensive.

The main differences between Russian accounting and IFRS occur when determining the recognition of revenues.

Consider the conditions for recognizing revenue when selling goods. Revenue from the sale of goods should be recognized when all established conditions are satisfied. In case, at least one of the conditions is not followed, the revenue in the reporting period is not recognized.

IFRS operates mainly with high-quality concepts ("significant risks and remuneration", "reliable measurement of revenue", "degree of ownership", etc.), leaving significant scope for the professional judgment of reporting compilers. The Russian standards operate with more accurate definitions of revenue recognition conditions ("the right to receive revenue arising from the contract or confirmed by otherwise", "ownership has passed from the organization to the buyer"), which have a documentary confirmation.

One of the most striking examples of the difference in IFRS from PBU is the approach to the implementation of goods through an intermediary, taking into account the transfer of property rights, significant risks of ownership and profits from the property.

In Russian accounting, revenues will be reflected only at the time of the sale of goods by the mediator (the time of the transfer of ownership).

The principles of evaluating revenue in IFRS 18 and in PBU 9/99 also differ significantly. If the contract is provided for delaying the payment, then according to IFRS, the revenue must be recognized as increasing in the contract interest rate For the use of actually borrowed funds.

Another problem point from the point of view of the assessment is the payment of non-monetary funds. According to IFRS 18, such revenues are estimated in the amount of the fair value of the obtained reimbursement. Fair value is the amount to which one can exchange an asset or resolve an obligation when making a transaction between well-informed, who want to make such a deal and independently from each other by the parties.

According to PBU 9/99, it is estimated in the amount "based on the price, according to which in comparable circumstances, the organization usually determines the cost of similar goods." If a fair value only k. market conditions, The method that the organization defines the value of "similar goods" may not correspond to fair value.

The principles of disclosure of information in PBU 9/99 and IFRS 18 in general coincide. PBU 9/99, as well as IFRS 18, requires disclosure in accounting policies to recognize revenue and methods for determining the completion stage of operations.

Despite the fact that PBU 9/99 leads to the definition of "extraordinary income", a separate article of "extraordinary income" since 2000 is not provided for in the Russian forms of reporting, approved by the order of the Ministry of Finance from 13.01.2000 No. 4. And IFRS 1 "presentation of financial statements", starting from reporting for 2005, directly prohibits the presentation of income in reporting as "emergency".

IFRS 18 requires disclosure of the amount of each significant category of revenue recognized during the period (revenues arising from the sale of goods, from the provision of services, interest, license payments and dividends), as well as disclosure of the amount of revenue arising from the exchange of goods or services included in each meaningful category Revenue.

Separate IFRS 18 requires disclosing any subject obligations and assets arising in connection with the cost of warranty repair, complaints, fines and other probable losses.

In turn, the PBU demands to show the revenue for each category, if the amount of revenue for this category is five or more percent of the total income of the organization during the reporting period. As for the revenue on the operations of the exchange, the PBU regulates the disclosure: the total number of operations with which this kind of contracts are carried out, indicating organizations that account for the main part of such revenues; Shares of revenue obtained under these agreements with related organizations, and the method of determining the cost of products (goods) transmitted by the organization.

The differences between IFRS 18 and PBU 9/99 are mainly conceptual. Although declarative PBU is in line with international standards, nevertheless, it bears the imprint of the Russian accounting tradition, when the reporting is drawn up for control purposes government agencies, not for private investors. At the same time, PBU 9/99 at the level of principles is contrary to PBU 1/98 " Accounting policy Organizations ", in which the principle of priority is declared in particular economic essence above the legal form. The PBU 9/99 contains a requirement to compulsory confirmation of the fact of implementation by the contract or other document, which establishes in this matter the priority of the form on the content. On the contrary, IFRS 18 harmoniously fits into the system of international standards and corresponds to the "principles of preparation and reporting". The fuzziness of the wording and the scope for professional judgments is just due to the fact that IFRS offers the principles that need to be guided in the preparation of reports, and not the rules that must be strictly followed.

The reflection of deferred tax assets and accounting obligations prepared in accordance with IFRS is regulated by IAS 12 "Income Taxes).

This standard is used to reflect all taxes, the base for which is taxable profit. In this case, the taxable is understood as a profit for the period, which is determined in accordance with the rules established by tax authoritiesAnd on the basis of which the income tax is calculated for paying to the budget.

Other taxes that are essentially calculated based on the profit indicator or replace income tax on the scope of the standard. For example, in order to tax optimization As part of the holding, companies apply a simplified tax system are often used. If the object of taxation is the value of income less expenses, this tax is subject to MCFO (IAS) 12.

In accordance with IAS 12 income taxes consist of current and deferred taxes.

Current income taxes are the amount of income taxes that the company must pay for the reporting period. Current tax for this and previous periods must be recognized in the reporting as short-term obligationsequal to its unpaid magnitude. If the tax is payable for a period longer than 12 months after the reporting date, the tax amount is disclosed as a long-term obligation.

Due to the fact that in accordance with IAS 12, the offset of short-term tax assets and short-term tax liabilities is allowed only when the company has a legally enshrined right of testing of recognized amounts, debt data and income into income tax should be shown in Reporting is deployed:

In terms of income tax calculations with federal and regional budgets within one company;

In terms of income tax calculations for various companies within the consolidated reporting.

Deferred income taxes are the value to which the accountant must be amended due to the existing difference in determining income and expenses for the purpose of drawing up financial statements and the calculation of income tax. Deferred taxes appeared as a result of the consistent implementation of the principle of accrual in IFRS (operations are reflected in those periods to which they relate). For example, the availability of income and expenses that are taken into account in accounting on the accrual method, and in tax accounting - only after payment, will lead to the appearance of a break in time between the recognition of the financial result from the operation and the reflection of the income tax arising from this operation. At the same time, the income tax accrued on operations of the last period will reduce the current profits, the result of which it is not.

In accordance with IAS 12, deferred tax liabilities are income taxes payable in future periods based on the size of taxable temporary differences.

Deferred tax assets are income taxes that will be reimbursed in future periods in relation to:

Subtracted temporary differences;

Transferred to the future not accepted tax losses;

The unused tax loans transferred to the future.

From above, it follows that the concept of temporary differences is key to calculating deferred taxes.

Taxable temporary differences lead to the appearance of a pending tax obligations (they increase the amount of tax on the income of future periods), and subtractable - to the emergence of the pending tax asset (Reduce tax on the profit of future periods).

IAS 12 defines temporary differences as the difference between the book value of the asset or obligations and its tax base. The carrying amount of the asset or obligation is the cost of which an asset or commitment is recognized in the financial statements. The tax base of the asset or obligation is the amount on which this asset or obligation is taken into account for tax purposes. According to IAS 12, any asset or obligation has a tax base.

Thus, the tax base of the asset is the value submitted for tax purposes from taxable income that the company will receive when they compensate for the balance sheet value of the asset. If these future revenues are not taxed by the tax, the tax base of the asset will be equal to its book value. It should be noted that international financial statements standards separately consider the recognition of revenues arising from lease agreements, insurance contracts, changes in the cost of biological assets in agriculture, mining, mineral mining, etc. In Russian accounting, some issues of income accounting in principle are not considered, for example, the issue of recognizing income from changing the cost of biological assets.