Proceedings of the Third International Economic Symposium (IES 2018)

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Analysis of the application of international financial reporting standards for drawing up consolidated financial reporting in Russia

Authors
Svetlana Karelskaia, Ekaterina Zuga, Natalia Generalova
Corresponding Author
Svetlana Karelskaia
Available Online November 2019.
DOI
10.2991/ies-18.2019.31How to use a DOI?
Keywords
IFRS, consolidated financial reporting, problems, legislation
Abstract

Purpose - The purpose of this research is to study the practice of dissemination of IFRS in Russia, and to disclose the quantitative characteristics of their use. Findings - The paper reveals the dynamics of the involvement of Russian largest companies by sales revenues for the period 2005-2017 in the practice of drawing up financial reporting using IFRS. Also their industry affiliation was analyzed. The changes in the reasons that led to the described practice were studied. And these reasons were identified by comparing the results of the survey of more than 300 companies. Originality/value. The originality of this research is determined by the data presentation on the application of IFRS by the largest Russian companies by sales revenues, the total revenue of which in 2017 is 77.26% of Russian GDP, and the fact that despite the current legislative requirement for the drawing up the financial reporting using IFRS by certain groups of companies, such as banks, funds, insurance companies, the key role for the IFRS application belongs not to a legislator, but to the owners of companies.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the Third International Economic Symposium (IES 2018)
Series
Advances in Economics, Business and Management Research
Publication Date
November 2019
ISBN
10.2991/ies-18.2019.31
ISSN
2352-5428
DOI
10.2991/ies-18.2019.31How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

risenwbib
TY  - CONF
AU  - Svetlana Karelskaia
AU  - Ekaterina Zuga
AU  - Natalia Generalova
PY  - 2019/11
DA  - 2019/11
TI  - Analysis of the application of international financial reporting standards for drawing up consolidated financial reporting in Russia
BT  - Proceedings of the Third International Economic Symposium (IES 2018)
PB  - Atlantis Press
SP  - 239
EP  - 249
SN  - 2352-5428
UR  - https://doi.org/10.2991/ies-18.2019.31
DO  - 10.2991/ies-18.2019.31
ID  - Karelskaia2019/11
ER  -