@article{generalova2016adoption,
  title = {Adoption Of IFRSs In Russia: 22 Years Of Accounting Reforms},
  author = {Natalia Generalova and Genrietta Soboleva and Natalia Sokolova},
  year = 2016,
  url = {https://ibimapublishing.com/articles/JEERBE/2016/602146/},
  journal = {Journal of Eastern Europe Research in Business and Economics},
  volume = (2016),
  pages = 10,
  doi = 10.5171/2016.602146,
  abstract = {The paper deals with review of Russian accounting reform, which took place during 1992-2014 years. This reform showed that Russia has not just copied IFRS but it has chosen the way of reasonable and prudent their application.  The essence of this approach is following: convergence with IFRS and RAS (Russian accounting standards): the financial statements are drawn up in accordance with RAS which in turn are developed under IFRS; introducing a mandatory requirement of drawing up consolidated statement under IFRS, as well as its mandatory audit and publication: consolidated financial statements of public companies are formed under IFRS.This paper reviews real applications IFRS in Russia: de-jure and the de-facto. It is drawn conclusion that influence of IFRS methodology affected to accounting and, as a consequence, on its analysis. We have concluded that the main changes in national standards consist in appearance of professional judgment and economic interpretation of economic life facts. The article also presents and analyzes challenges in the application of the concept of professional judgment in Russia. Particularly, dynamic study of methodology of accounting education in Russia in 2004-2015 shows that limitations in the application of IFRS in Russia related to the national peculiarities of application of professional judgment and specific approach in the interpretation of the facts of economic life.In the paper also shows influence of IFRS adoption in Russia on conceptual framework of financial reporting:  assets, liabilities, capital, income, expenses, and others.
 },
  keywords = {IFRS, accounting reform, adoption of IFRS, convergence},
  note = Article ID: 602146
}