Registered with the Ministry of Justice of Russia on August 4, 2017 N 47669

In accordance with the Regulations on Recognition International standards financial statements and Interpretations of International Financial Reporting Standards for application in the territory Russian Federation, approved by Decree of the Government of the Russian Federation of February 25, 2011 N 107 (Collection of Legislation of the Russian Federation, 2011, N 10, Art. 1385; 2013, N 36, Art. 4578), in agreement with Central Bank I order the Russian Federation:

1. To put into effect on the territory of the Russian Federation:
1) document of International Financial Reporting Standards “Annual improvements to International Financial Reporting Standards, period 2014 - 2016.” (Appendix No. 1);
2) document of International Financial Reporting Standards “Translations investment property from category to category (Amendments to International Financial Reporting Standard (IAS) 40)" (Appendix No. 2);
3) Explanation of IFRIC 22 “Transactions in foreign currency and advance payment” (Appendix No. 3).
2. Establish that the documents of International Financial Reporting Standards specified in paragraph 1 of this order come into force on the territory of the Russian Federation: for voluntary application - from the date of their official publication; for mandatory application - within the time limits specified in these documents.

ANNUAL IMPROVEMENTS IN INTERNATIONAL FINANCIAL REPORTING STANDARDS, PERIOD 2014 - 2016.

Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards
Clause 39D is deleted.
Clause 39F is deleted.
Paragraph 39L should be amended as follows:
39L IAS 19 Employee Benefits (as amended in June 2011) amended paragraph D1 and deleted paragraphs D10 and D11. An entity must apply these amendments when it applies IAS 19 (as amended in June 2011).
In the first sentence of paragraph 39T, the words “, as well as the heading and paragraphs E6 - E7” have been added, shall be deleted.
Clause 39AA shall be deleted.
After paragraph 39AC, insert paragraph 39AD as follows:
39AD Document “Annual Improvements to International Financial Reporting Standards, period 2014-2016.” “, issued December 2016, amended paragraphs 39L and 39T and deleted paragraphs 39D, 39F, 39AA and E3 to E7. An entity shall apply these amendments for annual periods beginning on or after 1 January 2018.
In Appendix E, paragraphs E3 - E7 and the corresponding headings are deleted.

Amendments to IFRS 12 Disclosure of Interests in Other Entities

After paragraph 5, insert paragraph 5A as follows:
5A Except as described in paragraph B17, the requirements in this IFRS apply to the interests of an entity listed in paragraph 5 that are classified (or included in a disposal group that is classified) as held for sale or discontinued operations in accordance with IFRSs ( IFRS) 5 " Fixed assets held for sale and discontinued operations."

In Appendix B:
Paragraph B17 should be worded as follows:
B17 If an entity's interest in a subsidiary, joint venture or associate (or part of its interest in a joint venture or associate) is classified (or is included in a disposal group that is classified) as held for sale in accordance with IFRSs 5, an entity is not required to disclose summary financial information for a subsidiary, joint venture or associate in accordance with paragraphs B10–B16.
In Appendix C:
After paragraph C1C, insert paragraph C1D as follows:
C1D Annual Improvements to International Financial Reporting Standards 2014–2016, issued in December 2016, added paragraph 5A and amended paragraph B17. An entity shall apply these amendments retrospectively in accordance with IAS 8. Accounting policy, Changes in Accounting Estimates and Errors” for annual periods beginning on or after 1 January 2017.

Amendments to IAS 28 Investments in Associates and joint ventures»

After paragraph 16, the title should be stated as follows:

Method Exemptions equity participation

Clause 18 should be stated as follows:
18 If an investment in an associate or joint venture is owned directly by an entity that specializes in venture investments or is a mutual fund, mutual fund or similar organization, including insurance funds investment type, or ownership is through such an entity, then the entity may decide to measure such investment at fair value through profit or loss in accordance with IFRS 9. An entity shall make this determination separately for each associate or joint venture on initial recognition of the associate or joint venture.
Clause 36A should be amended as follows:
36A Notwithstanding the requirement in paragraph 36, if an entity that is not itself an investment entity has an interest in an associate or joint venture that is an investment entity, when applying the equity method, that entity may elect to retain the fair value measurement used by its associate. entity or joint venture that is an investment entity to its own interests in subsidiaries. This determination is made separately for each investment entity associate or joint venture on the later of: (a) the date of initial recognition of the investment entity associate or joint venture; (b) the date on which the associate or joint venture becomes an investment entity; and (c) the date on which the associate or joint venture that is an investment entity first becomes a parent.
After paragraph 45D, insert paragraph 45E as follows:
45E Annual Improvements to International Financial Reporting Standards 2014–2016, issued in December 2016, amended paragraphs 18 and 36A. An entity shall apply those amendments retrospectively in accordance with IAS 8 for annual periods beginning on or after 1 January 2018. Early use is permitted. If an entity applies these amendments to an earlier period, it must disclose that fact.

On January 1, 2016, the new IFRS 14 “Tariff Deferral Accounts” (hereinafter referred to as IFRS 14) came into force (in the Russian Federation adopted in accordance with Order of the Ministry of Finance of Russia dated December 17, 2014 N 151n), as well as a number of amendments to existing standards. Let's consider the most significant changes developed by the IFRS Board (International Accounting Standards Board (IASB), hereinafter referred to as IASB), which may be relevant for companies applying IFRS.

Changes in accounting for assets and liabilities related to tariff regulation

In many countries, certain industries (for example, utilities or transport services) are subject to tariff regulation by the government or regulatory authorities. They set limits for companies in these industries on the volumes they can supply and the prices they charge to customers.

Previously, IFRS did not have a standard for accounting for assets and liabilities related to tariff regulation. However, some national standards accounting contain requirements for the need to recognize the latter on the balance sheet.

Preparers of IFRS financial statements often ask: Do these assets and liabilities meet the relevant definition in the IFRS Conceptual Framework? The answer was very important, since the inability to recognize such assets and liabilities served as an obstacle to the application of IFRS.

To address this problem, IFRS 14 was introduced, which allowed a limited number of companies to use accounting policies based on national accounting standards for the recognition, measurement and impairment of tariff-related assets and liabilities.

The scope of IFRS 14 is very narrow and only covers companies:

first time users of IFRS;

• carrying out activities subject to tariff regulation;
• Recognizing amounts that qualify as regulatory deferral account balances in financial statements prepared in accordance with previously generally accepted accounting principles.

When applying IFRS 14, a company should account for assets and liabilities separately in Regulatory Deferral Accounts. In this case, “Regulatory deferral accounts”, as well as the corresponding impact on profits or losses, are reflected separately from other lines of the financial statements.

Please note that the above rules are only available to companies applying IFRS for the first time. Their financial statements will be comparable to the financial statements of other organizations due to the fact that all other lines and subtotals will exclude the impact of deferred tariff differences.

Information on the possible connection of IFRS 14 with certain other standards due to its application is presented in paragraphs 16-17 of IFRS 14 (Appendix B) and concerns adaptation in accounting policies to national standards. Thus, when adapting, the following standards should be taken into account:

• IAS 10 Events after the end of the reporting period;
• IAS 12 Income Taxes;
• IAS 33 Earnings per Share;
• IAS 36 Impairment of Assets;
• IFRS 3 Business Combinations;
• IFRS 5 Non-current Assets Held for Sale and Discontinued Operations;
• IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures;
• IFRS 12 Disclosure of Interests in Other Entities.
• IFRS 14 contains certain requirements for disclosure of information in financial statements, in particular:

About the nature of tariff regulation, which sets restrictions on prices for buyers, and the risks associated with it;

On the impact of tariff regulation on the reporting financial situation, income statement and flow statement Money.

In addition, the disclosures in the financial statements will require a detailed explanation of the amounts recognized. For example, each Regulatory Deferral Account requires disclosure of the basis of initial and subsequent recognition and measurement, including information about impairment. For each type of activity related to tariff regulation, for each class of balances in the “Deferred Tariff Difference Accounts” it is necessary to disclose:

• reconciliation of the book value at the beginning and end of the period (preferably in tabular form);
• rate of return or discount rate;
• the remaining periods over which the company expects to recover (or amortize) book value each class of debit balances in the regulatory deferral account or restore each class of credit balances in the regulatory deferral account.

Note that IFRS 14 does not contain specific requirements transition period. For companies applying IFRS for the first time, an exemption from the requirements of IFRS 1 First-time Adoption of International Financial Reporting Standards (hereinafter referred to as IFRS 1) will be available, including, in particular, the use of a current balance formed under previously applied national rules accounting, as the conditional value of fixed assets and intangible assets.

The accounting procedure for reclassifying assets under IFRS 5 is clarified

As part of the "Annual Improvements to International Financial Reporting Standards, period 2012-2014." (Annual Improvements (2012-2014)), issued by the IASB on 25 September 2014, amended IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (IFRS 5) to clarifying that reclassifying an asset (or disposal group) from held for sale to held for distribution to owners, or vice versa, does not change the nature of the original plans for disposal. Accordingly, companies may apply all of the requirements (classification, presentation and evaluation) of the standard that are relevant to the “held for sale” category. For example, if an asset is no longer classified as held for distribution to owners, then the requirements of IFRS 5 for assets that are no longer classified as held for sale should be applied.

The amendment is applied prospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8), meaning an entity may:

• apply the new accounting policy to transactions, other events and conditions that occurred after the date on which the policy changed (from 01/01/2016);
• Recognize the effect of a change in accounting estimates in the current and future periods affected by the change (that is, without affecting prior periods).

Clarifications on the treatment of continuing participation rights

As part of the Annual Improvements (2012-2014) to IFRS 7" Financial instruments: Disclosure" amendments have been made to clarify the circumstances in which an entity retains the right to service a transferred financial asset (continuing involvement). The clarifications adopted are necessary when taking into account the derecognition requirements of IAS 39 Financial Instruments: Recognition and Measurement ( hereinafter referred to as IAS 39) and IFRS 9 Financial Instruments (hereinafter referred to as IFRS 9).

Continuing involvement occurs when the entity continues to service the transferred financial asset and maintains a long-term interest in the financial results that can be obtained from it.

Continuing involvement in financial assets occurs when the consideration of the transferor financial asset:

• is variable and depends on the amount of receipt cash flows on the transferred financial asset;
• or is fixed but not payable in in full, if the transferred asset has bad financial results.

The amendment is applied retrospectively in accordance with IAS 8, except for periods beginning before the annual period in which the entity first uses it. A corresponding amendment has been made to IFRS 1 for first-time adopters of IFRS. Thus, companies do not need to determine the fair value of servicing in prior periods.

Amendments to IAS 19 Employee Benefits

The amendments to IAS 19 Employee Benefits address actuarial assumptions on the discount rate and clarify that high quality corporate bonds used to determine the discount rate (the value required to account for employee benefits) must be denominated in the same currency , as well as related future employee benefits. If a jurisdiction does not have a sufficiently developed market for high-quality corporate bonds denominated in a particular currency, the market yield (at the end of the reporting period) of government bonds denominated in that currency should be used.

The amendments are applied retrospectively (in accordance with IAS 8) from the beginning of the earliest comparative period presented in the first financial statements in which the entity applied the amendment.

Changes to the equity method in the separate financial statements

The amendments to IAS 27 Separate Financial Statements (IAS 27) were prompted by requests from stakeholders in countries where the only difference between mandatory separate financial statements under national standards and separate financial statements under IFRS is the use of the equity method. participation.

The changes make it possible to account for investments in subsidiaries, joint ventures and associates using the equity method (as described in IAS 28 Investments in Associates and Joint Ventures) in separate financial statements, which in turn reduces the cost of preparation of financial statements in accordance with IFRS for companies from such countries.

Note that the standards still do not require the mandatory preparation of separate financial statements. However, if the amendments are applied, the approach specified in them must be used for all types of investments. Previously, a company could account for such investments only at actual cost or in accordance with IFRS 9 (IAS 39).

The amendment is applied retrospectively in accordance with IAS 8. It can also be applied early.

Disclosures outside the notes to interim financial statements

As amended by IAS 34 Interim Financial Reporting, additional disclosure of significant events and transactions may be provided in the notes to the interim financial statements or elsewhere in the interim financial report.

If disclosures are made in another report, they must be made available to users of the financial statements on the same terms and within the same time frames as the interim financial statements. Otherwise, its set is incomplete.

The amendment is applied retrospectively in accordance with IAS 8.

Accounting for the acquisition of an interest in a joint operation the activities of which constitute a business

IFRS 11 Joint Arrangements (IFRS 11) does not currently provide guidance on a party to a joint transaction's accounting for the acquisition of an interest in a joint operation when the activity in that transaction constitutes a business as that term is defined. specified in IFRS 3 Business Combinations (hereinafter referred to as IFRS 3).

Important!

A business is an integrated set of activities and assets, the conduct and management of which has the potential to generate income in the form of dividends, cost reductions or any other economic benefit, directly from investors or other owners, participants or members.

As a result, in practice, various approaches are used to account for the purchase of an interest in jointly controlled transactions that meet the definition of a business, including:

• excess payment over the fair price of identifiable net assets admit either on a separate line as goodwill, or distributed proportionally to other identifiable assets;
• deferred taxes are recognized or not recognized;
• acquisition-related costs are capitalized or expensed.

When an entity acquires an interest in a joint operation that constitutes a business as defined in IFRS 3, an entity shall apply the principles of that standard to account for the acquisition and disclose relevant information.

At the same time, new paragraphs B33A-B33D have been added to the guidance on the application of IFRS 11, which clarify the following points.

1. Certain accounting principles for business combinations that may be applicable to the accounting for the purchase of an interest in a joint operation constituting a business, namely:

• measurement at fair value of identifiable assets and liabilities other than items for which exceptions are provided in IFRS 3 and other IFRSs

recognition of costs associated with the acquisition of a share,

• as an expense in the income statement in the periods in which the costs are incurred and the related services received (except that the costs of issuing debt or equity securities are recognized in accordance with IAS 32 Financial Instruments: presentation of information" and IFRS 9);
• recognition of deferred tax assets and deferred tax obligations that arise on initial recognition of assets or liabilities (except for deferred tax liabilities arising on initial recognition of goodwill);

recognition of goodwill;

• Carrying out an impairment test for the cash-generating unit to which the goodwill was allocated (at least annually, as required by IAS 36 Impairment of Assets).

2. The principles of IFRS 3 should be applied when forming a joint operation if, in accordance with this standard, the existing business is a contribution to at least one party (participant in a joint operation).

3. The principles of IFRS 3 do not apply if a participant in a joint operation (the activities of which constitute a business as defined in IFRS 3) increases its interest in it and if the participant retains joint control over it.

4. The requirements of IFRS 3 do not apply if the parties to a joint operation are under common control of the same party(ies) who has ultimate control before and after the acquisition of the interest, and such control is of an ongoing nature.

In addition, a concomitant amendment has been made to IFRS 1 to ensure that the exemption from IFRS 3 for past business combinations also applies to past acquisitions of interests in a joint operation where the activity constitutes a business. .

The amendments to IFRS 11 apply prospectively. This means they can be used to purchase interests in joint operations that constitute a business as defined by IFRS 3 if the acquisition date is on or after the start of the first annual reporting period (in which case reporting period starts on 01/01/2016 or later). Early application is also permitted but must be disclosed in the financial statements.

Clarification of acceptable depreciation and depreciation methods

In 2011, the International Financial Reporting Interpretation Committee (IFRIC) received a request for clarification of the meaning of the term "consumption of future economic benefits embodied in an asset" in IAS 38. Intangible assets" (hereinafter - IAS 38) in the case of determining the appropriate method of depreciation. In turn, the IASB amended IAS 16 Property, Plant and Equipment (hereinafter IAS 16) and IAS 38.

The amendments to IAS 16 clarify that the revenue-based method of depreciation is not permitted because revenue generated by the activities in which the asset is used typically reflects factors other than the consumption of the economic benefits embodied in the asset. For example, revenue is affected by:

• other resources and processes used;
• sales activities;
• changes in sales volumes and prices;
• inflation.

The amendments to IAS 38 introduce a rebuttable presumption that the use of the revenue-based method of amortization for an intangible asset (IAS) is not permissible and can only be rebutted in limited circumstances, namely:

• if the intangible asset is expressed as an estimate of revenue;
• or when it can be demonstrated that revenue and consumption of economic benefits from intangible assets are highly correlated.

For example, a company may be licensed to collect tolls for the use of a bridge. At the same time, the license allows for the collection of duties until the final amount determined by the agreement is reached.

As a result of the amendments, IAS 38 also includes guidance that the appropriate depreciation method can be determined based on the “predominant limiting factor” of the asset's use. Such factors are the following.

1. A contractual term that limits the duration of the right to use an asset (for example, in a contract establishing a company's rights to use intangible assets, the latter may be expressed as a certain number of years (i.e. time), number of units produced, or a fixed total amount revenue that will be generated by the asset). Determining such a predominant limiting factor can serve as a starting point for determining the allowable basis for depreciation. However, a different basis may be used if it more clearly reflects the expected pattern of consumption of economic benefits.

2. Number of units allowed to be produced.

3. A fixed total amount of revenue that is allowed to be generated. For example, the source of revenue is a production license or operating right. In both cases, revenue is limited to a fixed total amount.

Amendments to both standards apply prospectively. However, their early use is permitted.

A change in the current method of depreciation or amortization resulting from the amendments will be applied to the current amounts of assets and the effect of the change will be accounted for as a change in accounting estimates in accordance with IAS 8 from the date of initial application (the beginning of the annual period beginning on or after 01/01/2016 this date). This will require disclosure of the nature and amount of changes in accounting estimates in accordance with paragraph 39 of IAS 8, or the nature and amount of those changes that are expected to have an effect in future periods (if practicable).

Changes in the accounting of fruit crops (agricultural industry)

Before the amendments to IAS 16, fruit crops should have been accounted for in accordance with IAS 41." Agriculture". All biological assets were measured at fair value less costs to sell (except in rare cases where the assumption that fair value could be measured reliably was rebutted). The valuation principle was based on the assumption that the transformation of biological assets into the best may be expressed in a fair value measurement.

However, during public discussions, the IASB received inquiries from stakeholders about the appropriateness of fair value measurement for mature biological assets. Many discussants insisted that the use of biological assets in the production process is similar to the use of property, plant and equipment and, therefore, for mature biological assets, it would be appropriate to apply the amortized cost model in IAS 16. In addition, some companies value biological assets at fair value is expensive and difficult to apply because there is no active market for some types of biological assets.

As a result of the amendments, fruit crops should be accounted for in accordance with IAS 16 as property, plant and equipment, namely:

• based on actual costs;
• at a revalued value.

Thus, the scope of IAS 16 has been expanded. It included fruit crops (as a result, they are excluded from the scope of IAS 41) and added their definition.

According to IAS 16, a fruit crop is a living plant that:

• used for the production or receipt of agricultural products;
• expected to bear fruit for more than one (annual) period;
• has a remote likelihood of being sold as an agricultural product (except by-product sales as waste).

Please note that IAS 41 lists some plants that do not meet the definition of fruit crops and are consumable biological assets:

• plants that will be obtained (collected) as agricultural products (for example, trees grown for the purpose of timber harvesting);
• plants grown for the purpose of obtaining (collecting) agricultural products, when the likelihood that the company in the distant future will also be able to obtain (collect) and sell the plants (in addition to selling waste) is very low;
• annual crops (such as corn and wheat).

Before fruit crops can produce agricultural products (that is, until they reach maturity), they will be accounted for as independently created items of property, plant and equipment. However, IAS 16 will not apply to biological assets associated with agricultural activities and to fruit crop products. Agricultural products remain within the scope of IAS 41 and are accounted for at fair value.

The amendments to IAS 16 should be applied retrospectively. However, their early use is permitted.

The transition period exemption for the purposes of first-time adoption of IFRS (IFRS 1) also applies to the amendments to IAS 16, namely the deemed cost exemption. Entities may use the fair value of fruit crops at the beginning of the earliest period presented in the financial statements as a proxy. initial cost on this date. This exception applies to fruit crops because they are items of property, plant and equipment as defined in IAS 16.

Changes related to financial reporting disclosures

As a result of stakeholder requests and as part of the IASB's global project to improve financial reporting presentation and disclosure requirements, the Disclosure Initiative (Amendments to IAS 1) has been published to complement the revision of the IFRS Conceptual Framework. Presentation of financial statements").

The main purpose of the amendments is to encourage companies (and other parties involved in the preparation and review of financial statements) to carefully consider the presentation and disclosure requirements in financial statements through the exercise of professional judgment (including compliance with the principles of materiality, understandability and comparability).

The changes are as follows.

1. When aggregating information, it should not be allowed to reduce the understandability of financial statements by veiling material information with immaterial data or by aggregating material items that differ in nature or function. The principle of materiality applies to all four forms of financial reporting (statement of financial position at the end of the period, statement of profit, loss and other components of comprehensive financial performance for the period, statement of changes in equity for the period, statement of cash flows for the period) and notes to them.

2. Compliance with the specific disclosure requirement of any IFRS is not necessary if the information disclosed is not material. These rules must be read alongside the definition of materiality set out in paragraph 7 of IAS 1, which requires items to be taken into account individually and in the aggregate because a group of immaterial items may, if combined, become material.

3. The need for disclosure should be considered additional information if compliance with the specific requirements of IFRS is insufficient to understand the financial statements.

4. Where subtotals are presented (in the statement of financial position, statement of profit or loss and other comprehensive income), such amounts must:

• contain items that consist of amounts recognized and measured in accordance with IFRS;
• be presented and labeled in such a way that the items that make up the subtotal are clear and understandable;
• used consistently from period to period;
• and be presented in a less prominent format than the subtotals and totals that are required to be presented in the statement of financial position under IFRS.

5. The components of other comprehensive income (excluding those attributable to associates and joint ventures accounted for using the equity method) shall be classified by their nature and grouped as those that, in accordance with other IFRSs:

• and will subsequently be reclassified to profit or loss if certain conditions are met.

6. Share in other comprehensive income of associates and joint ventures accounted for using the equity method with separate presentation of the share in items that, in accordance with other IFRSs:

• will not be subsequently reclassified to profit or loss;
• will subsequently be reclassified to profit or loss if certain conditions are met.

7. Included are examples of the ordering or grouping of notes to achieve the objectives of understandability and comparability of financial statements.

The amendments removed examples of disclosure of accounting policies for income taxes and foreign exchange differences from paragraph 120 of IAS 1 because it was not clear why a user of financial statements would always expect these specific accounting policies to be disclosed.

As a result of the amendments, companies may wish to review:

• application of the principle of materiality;
• degree of aggregation of financial statement lines;
• use of subtotals;
• type of information presentation;
• the sequence of notes to the financial statements;
• content and presentation of accounting policies;
• scope of disclosure of information on significant transactions, subject to satisfactory explanation economic essence operations;
• what accounting policies are significant to users of financial statements for the purpose of understanding specific transactions.

In addition, firms may consider working with auditors and shareholders to determine what is material and appropriate to disclose in the financial statements for a particular reporting period.

Amendments can be applied early. However, companies are not required to disclose information under IAS 8 (paragraphs 28-30) in relation to these amendments. However, if the company decides to change the order of the notes or the information presented or disclosed compared to previous period In accordance with paragraph 38 of IAS 1, it shall also make adjustments to comparable information to conform with the current period of presentation and disclosure in the financial statements.

Amendments to the accounting of investment organizations

Paragraph 4(a) of IFRS 10 Consolidated Financial Statements (IFRS 10) contains an exception that allows consolidated financial statements not to be prepared provided that certain specific criteria of that standard are met. In particular, an investment entity would not be required to present consolidated financial statements if certain criteria were met if it were to measure all of its subsidiaries at fair value through profit or loss. The application of this exception raised a number of specific questions among interested parties.

The amendments made by the IASB clarified certain aspects of the application of IFRS 10, IFRS 12 Disclosure of Interests in Other Entities (IFRS 12) and IAS 28 Investments in Associates and Joint Ventures. enterprises" (hereinafter referred to as IAS 28), associated with the general exception for investment entities. Let's consider these aspects.

1. How should parents apply the IFRS 10 general exemption for investment entities when preparing consolidated financial statements? consolidated statements, if the investment organization is the parent enterprise?

IFRS 10 added clarification that a parent that is an investment entity is not required to present consolidated financial statements. It should measure all of its subsidiaries at fair value through profit or loss in accordance with IFRS 9 (unless the entity is not an investment entity but its primary purpose is to provide services related to the investment entity's activities). making investments). Previously, IFRS 10 required an investment entity to consolidate its subsidiaries that provide related services. investment activities investment organization, since this activity is only an integral part of the activity of the investment organization itself. This statement gave rise to claims from interested parties, since it conflicted with other requirements of the standard. The amendment to paragraph 32 of IFRS 10 clarifies that an investment entity consolidates only those subsidiaries that meet both of the following criteria:

• the subsidiary is not an investment entity;
• The main purpose of the subsidiary is to provide services that relate to the investment activities of the investment organization.

2. How should a non-investment entity account for its interests in associates or joint activities organizations that are investment?

In practice, there may be cases where an entity that is not an investment entity has an investment in a subsidiary that is an investment entity and, accordingly, that subsidiary measures the interests in its subsidiaries at fair value in its financial statements. IFRS 10 makes clear that a non-investment entity entity shall not consolidate the financial results of its subsidiary that is an investment entity, retaining the fair value measurement of the consolidated investment entity's subsidiaries. In such circumstances, when preparing consolidated financial statements, the non-investment entity must consolidate the subsidiaries of its investment subsidiary in the appropriate sequence and then consolidate its investment subsidiary into its financial statements.

IAS 28 at this moment does not contain similar requirements and, accordingly, the standard's guidance has been clarified regarding the application of the equity method by a non-investment parent to an investment in an investment associate or joint venture.

The amendments to IAS 28 clarify that if an entity that is not an investment entity has an interest in an associate or joint venture that is an investment entity, when it uses the equity method to account for its interests in that associate or joint venture, it may retain the measurement of the subsidiaries of such an associate or joint venture at fair value (that is, directly from its financial statements).

Thus, for an investment by a parent that is not an investment entity, adjustments will be required to the financial statements of subsidiaries that are investment entities that have subsidiaries at fair value, but not to the financial statements of an associate or joint venture. will be required.

3. Application of IFRS 12 “Disclosure of Interests in Other Entities” (hereinafter referred to as IFRS 12) by investment organizations.

The amendments to IFRS 10 clarify that an investment entity that prepares financial statements in which all of its subsidiaries are measured at fair value through profit or loss (in accordance with IFRS 10) must disclose information about the investment entities at in accordance with the requirements of IFRS 12. Note that the same requirements are still contained in IAS 27.

Early application of amendments is permitted. The amendments are applied retrospectively in accordance with IAS 8. However, when first applying IFRSs, entities are required to present only the amount of the adjustment in accordance with paragraph 28(f) of IAS 8 for the most recent comparative period, rather than for the current and all comparative periods.

IFRS reporting for 2016 compiled by firms in mandatory or on a voluntary basis. From our material you will learn about the nuances of registration and the basic requirements for such reporting in 2016.

Voluntary and mandatory reporting under IFRS for 2016

Firms reporting in IFRS format for 2016 can be divided into 2 groups:

• legally bound;
• volunteers.

The first group of companies is listed in the Law “On Consolidated Financial Statements” dated July 27, 2010 No. 208-FZ and since 2015 has been as follows:

• credit, clearing and insurance organizations(except insurance medical organizations areas of compulsory medical insurance);
• Management companies IF, mutual funds and non-state pension funds (management companies investment funds, mutual investment funds and non-state pension funds);
• included in the legislatively approved special list of federal state unitary enterprises (federal state unitary enterprises);
• JSCs whose securities are owned by the state (according to the list approved by the Government of the Russian Federation);
• companies whose owners have specified in their charter the obligation to submit and publish reports in accordance with IFRS standards;
• generating consolidated financial statements according to GAAP (USA) standards of the company;
• other companies whose securities are traded at organized auctions (included in the quotation list).

This list is presented in a generalized form, since it does not detail federal state unitary enterprises and joint-stock companies, for which the preparation of financial statements in accordance with IFRS is mandatory. Let's look at this in more detail.

IMPORTANT! The list of federal state unitary enterprises and joint-stock companies for which reporting in IFRS format is mandatory was approved by Decree of the Government of the Russian Federation dated October 27, 2015 No. 2176-r.

The above-mentioned order names 6 federal state unitary enterprises (Russian Post, ITAR-TASS, Goznak, etc.) and 18 joint-stock companies (Transneft, Rosneft, Russian Railways, Almaz-Antey, Rosagroleasing) , “Rosgeologiya”, “RUSNANO”, etc.).

The second group is those firms that voluntarily took on the task of preparing financial statements in accordance with IFRS standards for their own internal reasons, among which are:

• desire to attract foreign partners and investors;
• the desire to increase the level of information content of its reporting;
• other incentives.

The number of companies in this group largely depends on their financial capabilities, since reporting according to IFRS standards requires considerable costs (on staffing or attracting third-party IFRS specialists, setting up and maintaining a special software and etc.).

Requirements for reporting under IFRS in 2016

The first and main requirement that financial statements under IFRS must meet is the reliability of the information displayed in it.

IMPORTANT! Reliable information is considered to be information that truly reflects the consequences of the firm's transactions, events and conditions in accordance with the definitions and criteria required by IFRS.

To present to users reliable reporting, it is necessary (clause 17 of IFRS 1 “Presentation of Financial Statements”, put into effect by Order of the Ministry of Finance of Russia dated December 28, 2015 No. 217n):

• ensure compliance with the requirements of all applicable IFRSs;
• draw up accounting policies in accordance with IFRS 8 “Accounting policies, changes in accounting estimates and errors” (enacted by Order of the Ministry of Finance of Russia dated December 28, 2015 No. 217n) and consistently apply it;
• provide information that has the following properties: understandability, relevance, reliability and comparability;
• disclosure in necessary cases additional information (if compliance with the requirements of individual IFRSs does not allow us to sufficiently assess the impact of events and transactions on the financial position and results of operations of the company).

Reliable reporting allows its users to predict the future cash flows of the company (including the likelihood and periods of their occurrence), as well as make effective management decisions based on it.

When preparing financial statements, it is necessary to take into account an important assumption (in addition to the rest of the assumptions) - the assumption of continuity, that is, the ability of the company to continue its activities continuously. If there is uncertainty in this matter or the company plans to liquidate (without other alternative solutions), it is obliged to disclose these circumstances in the reporting.

In assessing a firm's ability to continue as a going concern, management must consider all available information about the future for at least (but not limited to) 12 months. It may be necessary to analyze a broad range of factors including:

• to current and future profitability;
• debt repayment calendars;
• potential sources of financing, etc.

When preparing information for reports, you must remember 2 groups of IFRS requirements:

• materiality (separate breakdown of significant indicators);
• nuances of netting (prohibition on reporting assets and liabilities, income and expenses on a net basis, except for situations permitted by IFRS).

Firms are required to submit financial statements in accordance with IFRS at least once a year. The company is obliged to reflect the fact of a change in the end date of its reporting period and the presentation of reports for a period less than or greater than a year, as well as to disclose the nuances of the use of such a reporting period (at a minimum: the basis and lack of full comparability of the amounts presented in the report).

Composition of financial statements under IFRS in 2016

Financial statements according to IFRS includes (clause 10 of IFRS 1):

• 4 reports (OFP, OPU, OIK and ODDS);
• notes;
• other explanatory information;
• comparative data for the previous period.

OFP, OPU, OIK and ODDS are abbreviations for the names of reports, respectively:

• about financial situation;
• profit or loss and other comprehensive income;
• change in capital;
• cash flow.

At the same time, IFRS allows the possibility for a company to use its own report names, in contrast to domestic reporting that is strictly regulated in name and structure. For example, “statement of profit or loss and other comprehensive income” may be shortened to “statement of comprehensive income.”

In addition to these reports, companies can provide users with:

• financial reviews (about sources of financing, resources of the company not recognized in the general financial statement, etc.);
• explanatory reports (for example, on added value);
• official bulletins (on security issues environment and etc.).

Example of IFRS reporting can be seen on the websites of reporting firms or in open access on the Internet.

Read about the nuances of reporting according to international standards in the following materials:

How to generate financial statements according to IFRS?

Reporting in IFRS format can be obtained in two ways:

• transformation of indicators formed on the basis of national accounting requirements (transformation);
• carrying out simultaneous accounting business transactions, income and expenses, assets and liabilities according to national requirements and IFRS (parallel accounting).

Transformation of reporting can be:

• external;
• internal.

These types of information transformation are based on reporting data generated according to the requirements of national accounting, and additionally collected by the company necessary information. This set of indicators is adjusted through special programs(usually Excel tables) in accordance with the requirements of IFRS (external transformation), or the required data is generated using special correction algorithms built into the accounting process (internal transformation).

The reporting provided must be reliable, useful, relevant and comparable.

2016-04-20 37

IFRS 2016 in Russia: what has changed and who should apply it?

The introduction of IFRS in Russia in 2016 has a long history. The slightest amendment to the standard can lead to global changes in accounting system. Only at first glance it seems that everything in accounting is unshakable. But it is precisely this that reflects the functioning of the business and requires increased attention. By Order of the Ministry of Finance of Russia dated December 28, 2015 No. 217n, international financial reporting standards were reintroduced (here is a list of IFRS 2016 standards). The order was registered with the Ministry of Justice on February 2, 2016 and with its help 40 IFRSs and 26 clarifications of IFRS were introduced. A number of orders of the Russian Ministry of Finance have lost force, including No. 160n dated November 25, 2011, No. 106n dated July 18, 2012, No. 143n dated October 31, 2012, and No. 135n dated December 24, 2013. These changes in IFRS 2016 must be taken into account in order to competently and efficiently prepare financial statements without significant time delays and additional costs.

Who should apply IFRS from 2016?

List legal entities, which are required to provide annual financial statements in accordance with IFRS according to the Federal Law of July 27, 2010 No. 208-FZ “On Consolidated Financial Statements”, since 2015 it has been expanded with new categories.

The full list of these legal entities now looks like this:

• credit companies;
• insurance organizations;
• legal entities whose shares, bonds and other securities are traded at organized auctions by being included in the quotation list;
• legal entities whose constituent documentation establishes mandatory submission and publication of consolidated financial statements.
• since 2014, the list includes organizations that issue only bonds and are allowed to participate in organized trading through their inclusion in the quotation list.
• since 2015, the list has been supplemented by management companies of investment funds, mutual funds and non-state pension funds;
• organizations engaged in clearing and insurance activities;
• non-state pension funds;
• federal state unitary enterprises (FSUEs), the list of which is approved by the highest collegial executive body Russian authorities;
• open joint stock companies(OJSC), the securities of which are in federal ownership and the list of which is approved by the Russian Government.

So, the list of organizations that must make the transition to IFRS in Russia in 2016 has been slightly expanded. We would like to remind you that insurance companies were excluded from the list of insurance organizations. medical companies, which only work with mandatory health insurance. Non-state pension funds and parent companies were included in the list in order to increase government control over their activities and protect the interests of incompetent investors.

What's new in IFRS 2016. Changes to be taken into account in reporting

Changes to IFRS 2016 were made by the Ministry of Finance of the Russian Federation in 2015, when it issued Order No. 9 on January 21 “On the implementation and termination of international financial reporting standards documents on the territory of the Russian Federation.” This order also gives effect to IFRS 15 Revenue from Contracts with Customers and the discontinuation of IAS 18 Revenue, IAS 11 Construction Contracts, and the Interpretations: RPC Interpretations ( SIC 31 Revenue - Barter Transactions Including Advertising Services, IFRIC 13 Customer Loyalty Programs, IFRIC 15 Real Estate Development Agreements, IFRIC 18 Transfer of Assets from clients." The standard comes into force on January 1, 2017, but can be used earlier on a voluntary basis.

Order No. 133n dated August 26, 2015 “On the introduction and termination of international financial reporting standards on the territory of the Russian Federation” puts into effect a new edition of the IFRS 9 “Financial Instruments” standard. The standard is mandatory for use from January 1, 2018, but can also be applied ahead of schedule.

In accordance with Order No. 79n dated May 19, 2015 “On the introduction of the document of international financial reporting standards into force on the territory of the Russian Federation,” amendments to IAS 27 “Separate financial statements” come into force. The amendments provide the ability to recognize investments in subsidiaries, associates or joint ventures through equity participation in the separate financial statements. The amendments are mandatory for use from January 1, 2016.

Accordingly, Order No. 109n dated July 13, 2015 “On the introduction of international financial reporting standards documents into force on the territory of the Russian Federation” amendments on innovations in the principles of applying exceptions to the consolidation requirements come into force. They relate to IAS 28 Investments in Associates, IFRS 10 Consolidated Financial Statements and IFRS 12 Disclosure of Interests in Other Entities.

The amendments to IFRS 10 clarify that “intermediate parents” are provided with an exception from the requirement to prepare consolidated financial statements. Exceptions apply if the investment (parent) company measures subsidiaries at fair value. Entities qualify for the exemption if they meet other requirements of IFRS 10. Amendments to IAS 1 Presentation of Financial Statements come into force regarding the clarification of materiality and aggregation, presentation of subtotals, structure of financial statements and disclosure of financial statements. accounting policy.

In 2015, the Ministry of Finance of the Russian Federation issued Order No. 91n dated June 11, 2015 “On the introduction of international financial reporting standards documents into effect on the territory of the Russian Federation.” In accordance with it, annual improvements to International Financial Reporting Standards come into effect for the period 2012-2014. They relate to IFRS 5 Non-current Assets Held for Sale and Discontinued Operations and IFRS 7 Financial Instruments: Disclosures. The revision to IFRS 5 clarifies that moving an asset or disposal group from held for sale to held for distribution and vice versa is not a change to the plan of sale or distribution and should not be accounted for. That is, they do not need to be reinstated in the financial statements simply because the method of disposal has changed. Improved IFRS 7 Financial Instruments: Disclosures requires an entity to disclose the nature of the arrangement if it transfers a financial asset to a third party in circumstances that prevent the asset from being derecognised. The information should include the extent of the continuing involvement in the asset and the risks to which the reporting entity is exposed.

The listed changes to IFRS will come into force in 2016 or may be applied on a voluntary basis. One way or another, in order to prepare statements in accordance with IFRS, it is necessary to carry out preparatory work if the company is subject to the Federal Law of July 27, 2010 No. 208-FZ “On Consolidated Financial Statements.”

Organization of reporting preparation

If your organization is required to present financial statements in accordance with IFRS, then it is necessary that this area of ​​work be performed by qualified specialists. They must undergo appropriate training and have not only knowledge, but also practical skills in applying IFRS.

When an organization switches to IFRS, it is necessary to decide:

• Who will prepare the reports - a contractor or a full-time specialist?
• Do you need a whole regular department to work with IFRS or is it better to turn to third-party providers?
• How will IFRS reporting data affect the company’s work, what should you pay close attention to?
• What data is required to be published?
• Who will be responsible for checking IFRS statements?

The choice of a specialist responsible for reporting under IFRS depends on the professionalism of the staff and the level of their workload. It is worth noting that the staff can be replenished with a third-party specialist, or prepared from existing candidates, which will be more appropriate in terms of rational use of company resources. Studying international financial reporting standards under the guidance of an ACCA marker will allow a specialist to gain strong practical knowledge and skills and confirm them with an ACCA diploma DipIFR (rus). If you improve the qualifications of specialists at the expense of the company, you should choose courses whose program is aimed at current trends in the application of IFRS in Russia in 2016 and their practical use, and not just for theoretical training.

Employees have a much better understanding of the specifics of the company’s activities and can devote maximum time to their core work. Invited specialists are more experienced, but their work in the organization will be superficial and using template methods. Before submitting and publishing financial statements under IFRS, it is necessary to obtain an auditor's report. Auditors carefully check it and provide an opinion and professional assessment. If there are no comments or adjustments, then the deadlines filing financial statements according to IFRS.

Preparation of the first financial statements according to IFRS

The first financial statements under IFRS are considered to be the first annual financial statements of an organization in which International Financial Reporting Standards were used and a statement of its compliance with IFRS was included.

Organizations that switched to international standards submitted their first reports in April 2016, in accordance with paragraph 7 of Art. 4 Federal Law No. 208-FZ. In this regard, they had to prepare in advance appropriately qualified specialists to prepare financial statements under IFRS and disclose their contents.

To prepare the first financial statements under IFRS in the Russian Federation, IFRS 1 “First-time application of IFRS” must be applied.

This IFRS must provide complete and accurate information in both first and interim financial statements that:

• transparent to users and comparable across all periods provided;
• prepared at a cost that does not exceed the benefits of its preparation;
• is the starting point for accounting in accordance with IFRS.

Before preparing financial statements under IFRS, you must:

• draw up reporting forms in accordance with international standards;
• accept the contents of the explanations and disclosures;
• create transformation and consolidated tables;
• collect information for the opening balance;
• check all reporting indicators for compliance with national standards and IFRS.

The first application of IFRS must be compared with the current standards that came into force at the reporting date.

As part of the preparation of the initial statement of the financial position of the company, the following work must be carried out:

1. Recognize assets and liabilities according to IFRS rules.
2. Lead to write-off and not be recognized as assets and liabilities unless international standards permit.
3. Execute new classification articles according to IFRS.
4. Make an assessment of assets and liabilities according to IFRS.

Rules for reporting under IFRS

Annual consolidated statements under IFRS in Russia in 2016, as in previous years, are presented for consideration to shareholders, founders, general directors or owners of company property. Also, all organizations approved by Law No. 208-FZ are required to submit annual reporting in the Central Bank of Russia. It is provided in electronic format, supported by an enhanced qualified electronic signature.

Annual consolidated financial statements in accordance with IFRS must be submitted before the general meeting the highest management bodies of the organization, no later than 120 days after the end of the calendar period for which these reports were prepared.

The need to report under IFRS 2016 is forcing companies to reconsider the way they prepare accounting and tax accounting, as well as further business planning. At the same time, companies are increasing their requirements for the professional level of personnel. Frequent changes in national legislation and amendments to international financial reporting standards force them to look in the labor market for professionals who are fluent in IFRS. The high qualifications of such specialists are confirmed by the international ACCA diploma DipIFR (rus).

1. Excel for an accountant: 5 useful examples of using Excel tables

• 15.02.19

  The Ministry of Finance introduced the IFRS document “Definition of a business (amendments to IFRS 3)” on the territory of the Russian Federation (order dated January 22, 2019 N 11n). The standard can be applied voluntarily from February 24. Amendments to IFRS 3 Business Combinations have clarified the term “business”. It is now an integrated set of activities and assets, the conduct and management of which can lead to the provision of goods or services... 698

• 15.02.19

  On the entry into force in the Russian Federation of IFRS "Definition of a business (Amendments to IFRS 3)" 726

• 15.02.19

  Amendments to IFRS 3 Business Combinations 784

• 14.12.18

  The Ministry of Finance published a positive conclusion based on the results of the examination of the applicability of the IFRS document “Definition of a Business (amendments to IFRS 3)” in the Russian Federation. Another one " folk sign" of the upcoming introduction of the document in the Russian Federation - it is also included in the regularly updated plate of the Ministry of Finance "Information on the progress of the recognition of IFRS and their explanations for application in the Russian Federation." For now - indicating only the results of the same examination. From the IFRS Foundation, the document... 931

• 21.11.18

  The Ministry of Finance put into effect on the territory of the Russian Federation the IFRS document “Amendments to references to the “Conceptual Framework” in IFRS standards (Amendments to IFRS standards)” (order dated October 30, 2018 N 220n). The document includes sections: Amendments to IFRS 2 Share-based Payment Amendments to IFRS 3 Business Combinations Amendments to IFRS 6 Exploration for and Evaluation of Mineral Reserves Amendments to IFRS 14 "Delayed accounts... 628

• 20.11.18

  On amendments to a number of IFRSs in connection with the adoption of the “Conceptual Framework for Presentation” financial reports" 532

• 04.10.18

  In Russia, it is planned to introduce the IFRS document “Amendments to references to the “Conceptual Framework” in IFRS standards (Amendments to IFRS standards).” The Ministry of Finance submitted the corresponding draft order for public discussion. ... 712

• 02.08.18

  By Order No. 153n dated July 12, 2018, the Ministry of Finance introduced the IFRS document “Amendments to the program, reduction of the program or repayment of obligations under the program” on the territory of the Russian Federation. These are amendments to IAS 19 Employee Benefits. The amendments relate to the cost of services of the current period, the net interest on the net liability (asset) of the program, and income from interest on program assets. The order of the Ministry of Finance will come into force on August 11.... 1168

• 02.08.18

  Amendments to IAS 19 Employee Benefits 1097

• 02.08.18

  On the entry into force in the Russian Federation of the IFRS document on program changes - amendments to IAS 19 834

• 23.04.18

  Annual improvements to IFRS for the period 2015-2017 1492

• 23.04.18

  Amendments to IAS 28 Investments in Associates and Joint Ventures 837

• 23.04.18

  Amendments to IFRS 9 Financial Instruments 881

• 19.04.18

  By Order No. 56n dated March 27, 2018, the Ministry of Finance puts three IFRS documents into effect on the territory of the Russian Federation: “Annual improvements to IFRS, period 2015 - 2017.” " Long-term investments to associates and joint ventures (amendments to IAS 28)"; "Prepayment provisions with potential negative recovery (amendments to IFRS 9)". The order will come into force on April 28. ... 1075

• 01.02.18

  The other day, the Ministry of Finance published on its website the texts of the IFRS documents currently used in the Russian Federation, most of which, in an updated form, were put into effect on the territory of the Russian Federation by Order of the Ministry of Finance dated December 28, 2015 No. 217n, however, many of them have already undergone a number of changes since then . In addition, the department provided a new version of the Conceptual Framework in Russian. We present full list documents published by the Ministry of Finance with links: ... 2154

• 21.12.17

  On changes made to the chart of accounts of credit institutions taking into account the requirements of IFRS 9 1295

• 21.12.17

  On clarifying the procedure for determining income, expenses and other total income of banks 947

• 21.12.17

  On the scope of application of the regulation on the accounting procedure for derivative financial instruments 718

• 14.12.17

  The International Accounting Standards Board (IASB) today presented its traditional collection of annual improvements to IFRS standards for the period from 2015 to 2017. As usual, these are relatively small-scale, narrowly targeted adjustments (in in this case to four standards), not significantly changing their essence. For the IASB, this is an example of fulfilling one of its main responsibilities to maintain international standards for... 858

• 28.06.17

  The IFRS Foundation has published a draft version of the new guidance to IFRS standards for small and medium-sized enterprises, inviting everyone to comment on it. The document was developed by the working group for the implementation of standards “IFRS for SMEs” - SMEIG (SME Implementation Group). The guidance is non-binding and is a collection of questions and answers that are devoted to the accounting of financial guarantees issued by the parent organization in... 855

• 16.06.17

  At its upcoming meeting this month, the IASB will discuss and decide whether to greenlight the provision on the topic of contractual obligations in the interim practice guidance, Making Materiality Judgments. It was first presented back in October 2015 - and, in theory, should someday become the basis on which judgments about the materiality of information will be made with significant... 631

• 14.06.17

  The next meeting of the ASAF International Consultative Forum will be held on July 6-7 in London. The IASB has identified topics for upcoming discussions: “Disclosure Initiative” – discussion document “Disclosure Principles”; goodwill and impairment - discussion of a research publication from the Japanese ASBJ; fixed assets – discussion of the upcoming publication of changes to IAS 16; improvements to IFRS 8 “Operating Segments” standards... 418

• 26.04.17

  The European Financial Reporting Advisory Group has released a draft of its comment letter on the improvements to IFRS 8 Operating Segments (and IAS 34), which the IASB introduced on 29 March. The comment period on these has not yet expired, so everyone has until July 31st to submit their comments. Let us briefly recall what the IASB proposed: Companies want to be required to disclose their position in their reporting... 501

• 07.04.17

  By Order No. 50n dated March 30, 2017, the Ministry of Finance put into effect on the territory of the Russian Federation the IFRS document “Application of IFRS 9 “Financial Instruments” together with IFRS 4 “Insurance Contracts” (amendments to IFRS 4).” On April 3, the order was sent for registration to the Ministry of Justice, as follows from the information on the department’s website. So far, state registration has not taken place. Let us remind you that the contents of this order were previously reported at the project stage. ... 914

• 23.03.17

  As part of its traditional triennial review of key UK standard FRC 102, the Financial Reporting Council (FRC) today introduced a series of corrective, simplifying amendments. Among other things, it says new approach to the accounting of loans in favor of directors of the company. The main goal of the developers was to ensure greater cost efficiency in applying the standard in practice. Paul George (Paul... 480

• 17.01.17

  The European Financial Reporting Advisory Group has presented its final recommendations on the joint application of IFRS 9 Financial Instruments and IFRS 4 in the EU. Insurance contracts" According to experts, in the specific circumstances arising from differences in the effective dates of the two new standards, the changes made in this case meet all the requirements for the application of IFRS in Europe.... 634

• 13.01.17

  The IASB yesterday published proposed changes to three standards, thereby launching consultations as part of its traditional annual improvements. The standards in question are IAS 12 Income Taxes, IAS 23 Borrowing Costs and IAS 28 Investments in Associates and Joint Ventures. In the first case, the developer clarifies that the reporting organization is obliged to take into account all tax consequences of the dividend policy... 628

• 20.12.16

  By Order No. 215n dated November 23, 2016, the Ministry of Finance introduced the IFRS document “Classification and measurement of share-based payment transactions (amendments to IFRS 2)” on the territory of the Russian Federation. The document comes into force in the Russian Federation for voluntary use - from the date of its official publication; for mandatory application - within the time limits specified in this document. ... 633

• 19.12.16

  Amendments to IFRS 2 Share-based Payment adopted 1353

• 09.12.16

  As part of its standard responsibilities for maintaining the appropriate quality of international standards, the IASB yesterday issued clarifying amendments to several standards and one interpretation, namely: Annual Improvements to IFRS Technical Plans, correcting or eliminating a particular unnecessary word from the text; IFRIC 22 “Transactions with foreign currency and accounting for advances” (a matter of choice exchange rate to record transactions... 1119

• 06.12.16

  new document for the next IASB meeting in December was posted on the international developer's website. It will discuss such aspects of the new standard for financial instruments as the law early repayment at fair value (fair value prepayment options), symmetric make whole prepayment options and SPPI test (“solely payments of... 1150

• 18.11.16

  The IASB has voted and decided on the official effective date for the new IFRS 17 Insurance Contracts standard, which should replace the current IFRS 4. This will be January 1, 2021. The international developer has rightly decided that if IFRS 17 is introduced where -in the first half of 2017, then by postponing the date of mandatory transition until the beginning of 2021, he will give companies 3.5-4 years to prepare. ... 910

• 17.11.16

  On changes to the industry standard for accounting for derivative financial instruments of non-financial financial institutions 690

• 17.11.16

  On accounting of transactions with securities in non-credit financial institutions 814

• 14.10.16

  The European Financial Reporting Advisory Group has launched a preliminary consultation on the adoption of the new IFRS 16 Leases standard in the EU, as evidenced by the published press release. Until December 8 of this year, there is an opportunity to speak out regarding the issues raised in the published document. IFRS 16 will replace the previous leasing standard (IAS 17) and all associated interpretations. One of the most... 754

• 07.10.16

  By Order No. 156n dated September 14, 2016, the Ministry of Finance puts into effect on the territory of the Russian Federation the IFRS document “Amendments to IFRS 15 “Revenue from Contracts with Customers”. The Order has already been registered with the Ministry of Justice. The standard, as usual, comes into force on territory of the Russian Federation for voluntary use - from the date of its official publication; for mandatory use - within the time limits specified in this document. ... 1522

• 07.10.16

  Amendments to IFRS 15 “Revenue from Contracts with Customers” have been adopted. 1239

• 07.10.16

  On the introduction into the Russian Federation of the IFRS document "Amendments to IFRS 15 "Revenue from contracts with customers" 1088

• 20.09.16

  The American Financial Accounting Standards Board has made technical adjustments to the group of standards in section 606, united under the general heading “Revenue from contracts with customers.” They were first presented in May 2014 simultaneously with the publication of the standard of the same name from the IASB. On an ongoing basis, the American developer is implementing a project of technical adjustments and improvements to clarify standards or eliminate... 478

• 04.08.16

  The Ministry of Justice registered the order of the Ministry of Finance dated July 11, 2016 No. 111n, which puts into effect for application on the territory of the Russian Federation: IFRS 16 “Lease”; IFRS document “Disclosure Initiative (Amendments to IAS 7)”; IFRS document “Recognition of deferred tax assets for unrealized losses (amendments to IAS 12)”. The order will come into force on August 13. Then on the territory of the Russian Federation it will be stopped... 1779

• 04.08.16

  Amendments to IAS 7 “Statement of Cash Flows” have been adopted 1681

• 04.08.16

  Amendments to IAS 12 “Income Taxes” have been adopted 1640

• 20.07.16

  Amendments to a number of IFRSs were adopted 832

• 20.07.16

  Amendments to IFRS 10 “Consolidated Financial Statements”, IFRS 12, IAS 28 were adopted 1153

• 20.07.16

  Amendments to IFRS 7 “Financial Instruments: Disclosures” have been adopted 919

• 20.07.16

  Amendments to IFRS 11 Joint Arrangements and accompanying amendments to IFRS 1 adopted 900

• 20.07.16

  Amendments to IAS 16 “Property, Plant and Equipment” and IAS 38 “Intangible Assets” were adopted. 1313

• 20.07.16

  13 IFRS documents are being introduced in Russia 2616

• 12.07.16

  The latest annual review of the UK's core standard FRS 101, Condensed Disclosures, has just concluded and, in response to comments received, the FRC has provided general annual updates to it and an interim version of specific adjustments, sub-headed “Notification of shareholders”. shareholders." In any case, all changes made are limited in nature... 475

• 30.06.16

  As promised the other day, the IASB is introducing a fresh set of adjustments to IFRS 3 Business Combinations and IFRS 11 Joint Arrangements. The developer has clarified the definition of a business (there should now be no problem in applying guidance to ensure that a business is not confused with just a group of assets when applying IFRS 3) and the treatment of past holdings (if a company acquires... 1098

• 28.06.16

  On Friday, the IFRS Foundation said that narrowly focused amendments to IFRS 3 Business Combinations and IFRS 11 Joint Arrangements are in the final stages of work. They are united under the common title Definition of a Business and Accountingf or Previously Held Interests, that is, “Definition of a business and accounting for past holdings.” It is under this title that the publication will be published on June 28. You can download it in the open... 521

• 01.06.16

  A draft order on the introduction of IFRS documents into force on the territory of the Russian Federation and on the recognition of certain orders of the Ministry of Finance as invalid has been submitted for public discussion. It is planned to put into effect: IFRS 9 “Financial Instruments” as amended in 2010; IFRS 9 Financial Instruments (Hedge Accounting and Amendments to IFRS 9, IFRS 7 and IAS 39); IFRS 9 Financial Instruments as amended in 2014; ... 1165

• 19.05.16

  The International Accounting Standards Board has officially confirmed that it will make changes to the insurance contracts standard, IFRS 4. As a reminder, these long-discussed changes are aimed at addressing possible problems that may arise as a result of the transition to another standard (IFRS 9 Financial Instruments) before the replacement current order insurance reporting will come IFRS 4. Its solution is international... 530

• 14.04.16

  The International Accounting Standards Board has issued updates to IFRS 15 Revenue from Contracts with Customers, clarifying certain previously unclear requirements and providing additional relief to companies as they transition. The standard, we recall, first saw the light in mid-2014. No changes were made to its fundamental principles, but international developers did... 611

• 10.03.16

  The IFRS Fund announced the start of sales starting yesterday new edition annual collection (one of the three main ones) 2016 International Financial Reporting Standards, for simplicity called the “Red Book” for the color of the cover. You can purchase it at in electronic format, and in a printed version, or you can order a “set”, PDF + printed copy. Let us note, by the way, that this time the collection is divided into two parts, A and B. What's new? In fact, a little... 1449

• 10.02.16

  The International Accounting Standards Board announced today that newest version a collection of IFRS standards (the so-called “Red Book”) is expected to be published in March. This volume includes all statutory IFRS standards that have an effective date after 1 January 2016. Therefore, compared to the previous version of 2015, the following changes can be found here: IFRS 16 “Rent”, IFRS 15 “Revenue from... 1663

• 09.02.16

  By Order No. 217n dated December 28, 2015, the Ministry of Finance introduced new editions of 66 IFRS documents on the territory of the Russian Federation. The order was registered with the Ministry of Justice on February 2. The document was developed in order to recognize for application in the Russian Federation the new edition of IFRS texts previously put into effect on the territory of the Russian Federation, and combines provisions on the validity of IFRS documents in the Russian Federation - 40 IFRS and 26 clarifications. These are: IAS 1 Presentation of Financial Statements IFRS... 1706

• 09.02.16

  New IFRSs have been introduced in Russia 6503

• 09.02.16

  Just a few days ago, the IASB introduced an updated version of IAS 7 “Statement of Cash Flows”, which comes into force on January 1, 2017, but it is allowed to be used ahead of schedule. The British regulator, the Financial Reporting Council (FRC), warmly responded to the new version of the standard, which specifically for British accounting practice may be particularly useful in terms of disclosing debt... 657

• 02.02.16

  The FASB's Emerging Issues Task Force (EITS) has proposed a set of amendments to standards that govern the classification of cash flows received and paid in statements of cash flows. Numerous commentators have repeatedly pointed out to the American developer the discrepancies in accounting practices associated with classification and reflection... 606

• 02.02.16

  The International Accounting Standards Board has published amendments to IAS 7 Statement of Cash Flows. All changes are aimed at improving the quality of information about the financial activities of organizations that reaches investors. The changes come into force on January 1 of the following year, but early application is permitted. As a reminder, the Disclosure Initiative was added to the IASB work plan in 2013... 845

• 28.01.16

  On Tuesday, the American Accounting Standards Board tabled two sets of amendments designed to address pension reporting concerns. The first set of amendments affects the standards in Topic 715, Pension Benefits, and relates to the presentation of net periodic contributions for pensions and other post-retirement benefits. The problem with American reporting today is that... 685

• 26.01.16

  After the January meeting, the IASB updated its work plan, which took place for the penultimate time at the end of December. We remind you that due to the change in the presentation format in July last year, it is now difficult to track progress on individual projects, unless the progress is very significant. Since the previous adjustment, there have been few such projects, but they have existed. For large projects, changes in expectations can be noted... 523

• 13.01.16

  As promised, right on time the IASB presented the long-awaited new standard IFRS 16 Leases, which changes the requirements that have been in place for more than 30 years: they have already lost their relevance and are not perceived by almost anyone as a suitable standard for accounting for leasing by financial statements. As you know, leasing is a flexible source of financing, very important for most companies. However... 1351

• 25.12.15

  The European Financial Reporting Advisory Group (EFRAG) has released an interim letter on the IASB's recent proposals. Let us remember that they relate to solving the problem of discrepancies in the dates of entry into force of two important standards – IFRS 9 “Financial Instruments” and large-scale updates to IFRS 4 for insurance contracts. I like the proposals of the international developer EFRAG. Experts believe that providing... 676

• 18.12.15

  December 11th working group on the topic of impairment in IFRS (IFRS Transition Resource Group for Impairment of Financial Instruments, or simply “ITG”), held its third meeting on the impairment requirements in the new standard IFRS 9 Financial Instruments, which was issued last year year. Participants discussed the following key topics: the importance of current effective interest rate conditional and other credit... 1 2332

• 11.12.15

  The International Accounting Standards Board has published for public discussion its new amendments that change the current version of the IFRS 4 standard. The main task of the international developer is to resolve temporary difficulties in connection with the different dates of entry into force of the IFRS 9 “Financial Instruments” standard and the qualitative new standard for insurance contracts, which we are still waiting for. As you know, and released in... 593

• 10.12.15

  The IASB has published a set of minor adjustments to selected IFRS standards. This time they touched upon the following: Interim version of practical guidance on the application of the concept of materiality in financial statements (“Application of Materiality to Financial Statements”), which the IASB introduced relatively recently, at the end of October, IFRS 9 “Financial Instruments” IFRS ) 15 “Revenue from contracts with customers” ... 622

• 25.11.15

  The European Union has published an official decision of the European Commission regarding the implementation of updates to the standards IAS 16 “Fixed Assets” and IAS 41 “Agriculture”, according to which, we recall, biological assets with several production cycles must be accounted for as fixed assets. Directive of the European Commission (Commission Regulation (EC) No 2015/2113) dated November 23 amends the previous directive of 2008 (No... 859

• 23.11.15

  The IASB yesterday presented two new updates to the standards for discussion. The first is highly specialized amendments to IAS 40 Investment Property, clarifying the accounting for transfers to, or exclusion from, investment property (paragraph 57 of the standard). Among other things, many were interested in the case of property at the stage of construction or development - whether it can be transferred from... 583

• 20.11.15

  An anti-corruption examination of the draft order of the Ministry of Finance on the introduction of IFRS and clarifications of IFRS into force on the territory of the Russian Federation has begun and the invalidation of a number of orders of the Ministry of Finance on IFRS. The new order will combine provisions on the validity of the following IFRS documents in the Russian Federation (a total of 40 IFRS and 26 explanations): IAS 1 “Presentation of Financial Statements” IFRS (IAS) 2 “Inventories” IFRS (IAS) 7 “Statement of Cash Flows” funds" IFRS (IAS)... 1102

• 05.11.15

  The Blue Volume of IFRS 2016 will include standards that are mandatory for use from 1 January 2016 (but will not include standards with a later effective date). It is worth recalling that key difference from the “Red Volume” of IFRS is that it includes all IFRS standards issued at the date of publication – even those that officially come into force later. In this case, they decided to split “Blue Volume” into two parts, Part A and... 960

• 29.10.15

  Committee on Economics and monetary policy(ECON) of the European Parliament has published the results of its four latest studies on IFRS 9 Financial Instruments. Implications of IFRS 9 for financial stability and supervisory rules. It examines the relationship between the standard's expected loss model and financial supervisory rules and discusses possible consequences in terms of financial stability... 753

• 23.10.15

  Following the recommendations of its members, the IASB voted and decided to set 1 January 2019 as the official effective date for the new IFRS 16 leasing standard. Early adoption will be permitted, but only if entities simultaneously apply IFRS 15 Revenue from Contracts with Customers. Let us note that according to the responses received to the ongoing consultations, exactly three years were named... 1137

• 22.10.15

  Let us remind you that interpretations of IFRS are also mandatory for use by companies in accordance with international financial reporting standards. They are developed by a special committee in collaboration with the IASB. Thanks to his work, discrepancies in accounting practices that are caused by ambiguities regarding the requirements in the original text of the standards are eliminated to a large extent. The Interpretations Committee published yesterday for... 802

• 12.10.15

  European Organization for securities and Markets (ESMA) commented on the draft amendments to IFRS 15 “Revenue from contracts with customers”, designed to eliminate remaining ambiguities with it and level out differences with FASB. ESMA pays particular attention to this second point. By the very essence of the clarifications to the standard proposed by the international developer, the European Securities and Markets Organization... 923

• 01.10.15

  The American Financial Accounting Standards Board (FASB) has released an update to its revenue recognition standards titled “Targeted Improvements and Practices.” The proposals for the standard, originally issued in May last year in collaboration with the IASB, are a response to recommendations from the Transition Working Group. They cover the following topics: revenue collection and termination... 741

• 25.09.15

  The IASB has confirmed that it intends to hold a public consultation on interim measures to resolve the disputes and uncertainties surrounding the adoption of a new standard on financial instruments before another new standard on insurance contracts comes into effect. The final version of IFRS 9 “Financial Instruments” was released in July last year and officially comes into force for mandatory use on January 1... 707

• 23.09.15

  As the IFRS Foundation reported this week, latest edition“The IFRS Guide” for the current year 2015 – “A Guide through IFRS 2015”, colloquially simply the “Green Book” because of the color of its cover – is finally ready. This volume includes the full text of the standards, interpretations, and accompanying “Basics for Inference” documents that clarify the logic of the standard setters, as of July 1. Traditionally, in this publication you cannot find... 1496

• 22.09.15

  Document IFRS 9 (Hedge Accounting, Amendments to IFRS 9, IFRS 7 and IAS 39) 1774

• 22.09.15

  IFRS 9 "Financial Instruments" was introduced in the Russian Federation 1813

• 21.09.15

  On September 15, Order No. 133n of the Ministry of Finance dated August 26, 2015 was registered with the Ministry of Justice. This order introduces in the Russian Federation: IFRS 9 “Financial Instruments” IFRS 9 “Financial Instruments” (hedge accounting and amendments to IFRS 9, IFRS 7 and IAS 39). The first in the Russian Federation comes into force for voluntary use - from the date of official publication, for mandatory use - within the time limits specified in this document. Second... 1761

• 21.09.15

  New IFRS on financial instruments is being introduced in Russia 1704

• 15.09.15

  The IASB introduced an addition to IFRS 15 “Revenue from Contracts with Customers”, which now formally defines a new effective date for the standard (i.e. the start of its mandatory use by IFRS entities) on 1 January 2018. Previously, let us remind you, it was January 1, 2017. However, for compilers of IFRS reporting, the opportunity to switch to the standard ahead of schedule is preserved. The decision of the international... 1014

• 09.09.15

  The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter in response to the IASB's proposals to delay the effective dates of the updated IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Joint Ventures and Associates. In addition, EFRAG also recommended that the European Commission not yet complete the process of implementing the modified version... 686

• 01.09.15

  The Ministry of Finance posted on its website updated information on the progress of the recognition of IFRS and their clarifications for application in the Russian Federation (in 2014 - 2015). From this report it can be gleaned that Ministry of Finance Order No. 133n dated August 26, 2015 was sent to the Ministry of Justice for registration at the end of August. This order introduces IFRS 9 “Financial Instruments” into the Russian Federation (hedge accounting and amendments to IFRS 9, IFRS 7 and IAS 39). ... 1443

• 23.07.15

  By Order No. 109n dated July 13, 2015, the Ministry of Finance introduced two IFRS documents into effect on the territory of the Russian Federation: " Investment organizations: application of the exception to the consolidation requirement (amendments to IFRS 10, IFRS 12 and IAS 28)"; "Disclosure Initiative (amendments to IAS 1)". Thus, amendments to IFRS documents are introduced: IFRS 10 "Consolidated Financial Statements" ... 2025

• 23.07.15

  IFRS Disclosure Initiative (Amendments to IAS 1) 1411

• 23.07.15

  IFRS Investment Entities: Applying the Exception to Consolidation Requirement 1568

• 23.07.15

  Two new IFRS documents are being introduced in the Russian Federation 1355

• 10.07.15

  Let us recall that relatively recently the IASB introduced a long-awaited update to the Conceptual Framework for International Standards. The scale of the changes can be assessed in different ways, but, say, to say that the return of the concept of caution is something of little significance would probably be wrong. Today, the European Financial Reporting Advisory Group is making its contribution, issuing until October 26, 2015... 905

• 08.07.15

  The Ministry of Justice registered Order of the Ministry of Finance dated June 11, 2015 N 91n, which puts into effect in the Russian Federation: the IFRS document “Agriculture: Fruit Crops (amendments to IAS 16 and IAS 41)”; IFRS document "Annual Improvements to International Financial Reporting Standards, period 2012 - 2014." Annual Improvements amend IFRS 5 Non-current Assets Held for... 1480

• 07.07.15

  Amendments to IFRS 5, IFRS 7, IAS 19, IAS 34 1471

• 07.07.15

  Amendments to the accounting procedure for fruit crops in IAS 16 “Property, Plant and Equipment” and IAS 41 “Agriculture” 1477

• 18.06.15

  The following IFRS documents are planned to be introduced in the Russian Federation: “Investment entities: application of exceptions to the consolidation requirement (amendments to IFRS 10, IFRS 12 and IAS 28)” “Information disclosure initiative (amendments to IFRS (IAS) 1)" IFRS 9 "Financial Instruments". An anti-corruption examination of the relevant draft order has begun, as reported on a single portal dedicated... 991

• 15.06.15

  By Order No. 79n dated May 19, 2015, the Ministry of Finance introduced the IFRS document “Equity Method in Separate Financial Statements (amendments to IAS 27)” on the territory of the Russian Federation. As follows from the document, separate financial statements will now be considered financial statements prepared by an enterprise, in which the enterprise can, at its own choice, in compliance with the requirements of this standard, take into account its investments in subsidiaries,... 1514
• 29.05.15 Another long and eagerly awaited project from international standard setters is the draft improvements to the Conceptual Framework of IFRS. “The conceptual framework forms the basis of IFRS”, of course, will sound like a tautology, but this idea is still capable of illustrating the undeniable significance of this document as the basis of a global system of standards. It is on this basis that the IASB builds the development of standards that bring... 2109

• 29.04.15

  Yesterday, the International Accounting Standards Board announced the postponement for a year - from 2017 to 2018 - of the entry into force of new rules for companies reporting under IFRS (international financial reporting standards). The reason for the transfer was requests from companies that do not have time to bring their standards into compliance with the new rules, and the decision of the American Standards Council financial accounting postpone the introduction of rules for American companies. 777

• 23.03.15

  Last Wednesday, a joint meeting between the IASB and the American Accounting Standards Board (FASB) was held to discuss additional changes to the revenue recognition standard. The need for additional amendments is explained not so much by the unsatisfactory quality of the standard today, but by the general concern of users in connection with the transition (although these things are, of course, interrelated). Both developers agreed... 937

• 19.03.15

  Continuing the repeatedly raised topic of delaying the new revenue recognition standard, which turned out to be not as ideal as many would like (see, for example, “Revenue recognition standard: new differences are on the way”) European Financial Reporting Advisory Group (EFRAG) presented its official recommendations to the European Commission regarding the implementation in the EU of last year’s IFRS 15 standard “Revenue by... 896

• 06.02.15

  The European Financial Reporting Advisory Group (which, among many other things, advises the European Commission on the implementation of new or amended IFRSs) yesterday presented its final recommendations on the “Annual Improvements to IFRSs 2012-2014 Cycle”, a collection of the latest revisions to international standards. Last September, the IASB issued “Annual Improvements” to IFRS... 1494

• 27.01.15

  The International Public Sector Accounting Standards Board (IPSASB) has completed its annual project to improve international accounting standards for this category of organizations. The changes take into account similar improvements already made by the IASB during the 2009-2011 and 2010-2012 cycles, as well as clarifications regarding acceptable depreciation methods (amendments related to IAS 16 and IAS 38)... 763

• 26.01.15

  The US accounting standard setter is today offering new improvements to US GAAP standards as part of its reporting simplification initiative. This time, the American developer proposes to eliminate the exception in the standards that does not allow the recognition of current and deferred tax consequences in relation to the transfer of an asset within an organization before the asset or assets are sold to an outside entity. In other words, now the standard will be... 811

• 13.01.15

  The European Union published last week a Commission order formally implementing the annual improvements to IFRS (2010-2012 cycle) and the year before last updates to the Defined Benefit Plans: Employee Contributions standard. The cycle of annual improvements to IFRSs affected the following standards: IFRS 2 “Share-based payment” IFRS 3 “Business combinations” IFRS 8... 705

• 12.01.15

  The US financial reporting regulator has brought its standards slightly more in line with IFRS - more precisely, with IAS 1 Presentation of Financial Statements - by eliminating the concept of “extraordinary items”. As is known, the international standard has prohibited their presentation since 2003, when an updated version was released (it came into force in 2005). New American guidance on this topic came out at the end of last... 776

• 23.12.14

  In addition to updating the disclosure standard last Thursday, the IASB also proposed narrowly targeted amendments to a number of standards providing consolidation exceptions for investment companies. We are talking about three standards - the same IFRS 10 “Consolidated Financial Statements”, IFRS 12 “Disclosure of Information about Interests in Other Companies” and IAS 28 “Investments in Associates”. With your... 1854

• 02.12.14

  Amendments to acceptable depreciation methods in IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets 2089

• 27.11.14

  The International Accounting Standards Board (IASB) has published an interim version of future changes to IFRS 2 Share-based Payment. The document is called “Classification and Measurement of Share-based Payment Transactions” - classification and measurement of transactions based on equity instruments, from which, taken as a whole, it is clear what it is about. Please note that the upcoming changes are already... 885

• 27.11.14

  The Ministry of Finance updated its “information” on the progress of recognition of IFRS and their explanations for application in the Russian Federation (in 2014). It follows from it that two IFRS documents, not yet used in the Russian Federation, have already been issued by order No. 127n dated October 30, 2014, which was sent for registration to the Ministry of Justice. This is: the IFRS document "Accounting for Acquisitions of Interests in Joint Operations (Amendments to International Financial Reporting Standard (IFRS) 11), ... 821

• 14.11.14

  The Chairman of the Board of Trustees of the IFRS Foundation, Michel Prada, made another public presentation “Reporting, markets and global the economic growth"at the meeting of the Shanghai National Institute of Accounting. In it, he, in particular, explained how the application of global standards determines economic growth and commented on the current situation in China. Note that this is Michel Prade’s second public appearance... 1816

• 23.09.14

  On Friday, the IASB working group, responsible for correcting typographical errors and minor errors from a semantic point of view, presented another set of amendments. Corrections were made to: individual standards that have not been amended over the past period, standards that have undergone changes over the past period, as well as three main “volumes” of the IASB: “Guide to IFRS 2013” ​​(“Green Book”), IFRS 2014 (“Blue Book”) ") and IFRS... 998

• 15.09.14

  In mid-August, the IASB issued amendments to IAS 12 Income Taxes (including the topic of deferred taxes) to address excessive diversity in accounting practices based on the recommendations of its Interpretations Committee. The IASB then decided that this was an undesirable diversity of approaches to deferred accounting. tax asset attributable to a debt instrument recognized at fair value... 1325

• 12.09.14

  Yesterday, the IASB introduced narrowly focused changes to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Entities, 2011 versions. Their main topic is the sale or transfer of an asset between the investor and the joint venture/associate. The IASB is aware of the inconsistency in the respective requirements of the two standards. So, IAS 28 today requires that... 2381

• 20.01.14

  Investment entities: amendments to IFRS 1815

• 21.12.12

  Government Loans (Amendments to IFRS 1 1471 The government approved the Regulations on the recognition of International Financial Reporting Standards and Interpretations of IFRS for use in the Russian Federation 4943