PROFIT AND LOSS STATEMENTS AND TOTAL RETURN REPORTS IN THE RUSSIAN AND INTERNATIONAL STANDARDS: HOW THEY CORRELATE AND HOW THEY ARE PRODUCED |
| 3 | |
| 2012 |
| scientific article | 657.22 | ||
| 235-242 | financial reporting, financial position, financial performance, international financial reporting standards, balance sheet, profit and loss statement |
| The article considers the requirements for disclosing information on financial results of organizations' activities in the Russian and international financial reporting standards. New requirements of the Russian accounting standards for producing profit and loss statement are analyzed. The Russian approach to the disclosure of financial results in the profit and loss statement is compared to IFRS regulations concerning the preparation of total return reports. We discuss the similarities and differences, advantages and disadvantages of these approaches. |
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