Improvement of Accounting in Accordance with International Financial Reporting Standards

• Vasilenko M.E.

  Ph.D., Associate Professor
  Vladivostok State University of Economics and Service
  Vladivostok. Russia

• Senior Lecturer
  Vladivostok State University of Economics and Service
  Vladivostok. Russia

• Malysheva V.V.

  Senior Lecturer
  Vladivostok State University of Economics and Service
  Vladivostok. Russia

At present, national economies are becoming more open and interconnected, and this entails the internationalization of the financial accounting system. By virtue of its authority, IFRSs are recognized as the basis of national requirements for the compilation of financial statements in most countries of the world. Obviously, it is the international standards that will allow preparing comparable financial statements.

The purpose of the research is to study the system of financial accounting in companies in the context of applying IFRS, identify the most relevant and significant problems associated with their use, identify the main directions and recommendations for its improvement.

The object of the study is the system of financial accounting in the conditions of application of international standards. The subject of the study are methods of regulating the accounting system in RAS and in IFRS.

The method of investigation is the methods and methods of the dialectical method of cognition, the method of logical analysis, the method of expert systems and evaluations, as well as special methods of scientific cognition used in accounting and economic analysis.

Scientific problem of the research – in the context of convergence of national accounting and IFRS, there is a need to identify and eliminate methodological and practical differences between them, to determine rational ways to assess the main elements of financial reporting based on the formation of fair value, as the main problem facing before the international accounting community.

The authors revealed the main difference between RAS and IFRS, which is that the principle of invariable valuation of assets and liabilities prevails in the national standards governing the content of financial statements, which reduces the quality of financial reporting for various groups of users (external and internal), does the analysis of the financial state of the company formal and insufficiently reliable.

Keywords: accounting, audit, reporting, IFRS, IAS.