IFRS Compared to Russian GAAP: An Overview (September 2005)
The purpose of this publication is to assist you in understanding the differences between the accounting principles of International Financial Reporting Standards (IFRS) and Russian Accounting Principles (Russian GAAP or RAP). This publication is a brief summary of the key provisions of IFRSs, contrasted with the parallel requirements of Russian GAAP. However this document does not describe fully the significant differences.
The focus of this publication is on recognition, measurement and presentation, rather than on disclosure; therefore disclosure differences generally are not covered. However, areas that are disclosure-based, such as segment reporting, are included.
This publication reflects all standards and interpretations issued at 31 December 2004. In the context of this publication, "currently effective" means applicable to financial years beginning on or after 1 January 2005. When a significant change will occur as a result of a standard or interpretation that has been issued at 31 December 2004, but which is not required to be adopted at 1 Januray 2005, the impact of these forthcoming requirements is discussed.
2009/10 Edition of Insights into IFRS: KPMG's practical guide to International Financial Reporting Standards
Languages available: Russian, English
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Organised by topic and extensively cross-referenced to the individual standards, Insights into IFRS emphasises the application of the standards in practice and explains KPMG's views on many interpretive issues. It is based on questions that have arisen around the world and includes many illustrative examples to clarify the practical application of the standards that were in issue at 1 August 2009.
The 6th edition 2009/10 is based on those standards that apply to an annual period beginning on or after 1 January 2009.
To help plan for future developments, the guide highlights requirements that will change as new and amended standards become effective and discusses areas that may be changed by current projects.
First Impressions: IFRS 9 Financial Instruments (December 2009)
Our First Impressions publications are prepared upon the release of a new IFRS, interpretation or other significant amendment to the requirements of IFRSs. They include a discussion of the key elements of the new requirements and highlight areas that may impact or change practice.
This edition of First Impressions considers the requirements of the new standard IFRS 9 Financial Instruments issued in November 2009. This publication includes a discussion of the key elements of the new requirements and highlights areas that may result in a change of practice.
First Impressions: Amendments to IAS 24 Related Party Disclosures (November 2009)
Our First Impressions publications are prepared upon the release of a new IFRS, interpretation or other significant amendment to the requirements of IFRSs. They include a discussion of the key elements of the new requirements and highlight areas that may impact or change practice. Examples are provided to assist in assessing the impact of implementation.
This edition of First Impressions considers the revised version of IAS 24 Related Party Disclosures issued in November 2009. Other aspects of IAS 24 are dealt with in Insights into IFRS, our practical guide to IFRSs.
First Impressions: IFRS 3 and FAS 141R Business Combinations (January 2008)
First Impressions is a publication that is prepared upon the release of a new International Financial Reporting Standard (IFRS), interpretation or other significant amendment to the requirements of IFRSs. It includes a discussion of the key elements of the new requirements and highlights areas that may result in a change of practice. Examples are provided to assist in the assessment of implementation impact.
This edition considers the requirements of IFRS 3 Business Combinations (2008) and the related amendments to IAS 27 Consolidated and Separate Financial Statements(2008), issued by the International Accounting Standards Board. This edition of First impressions also considers the requirements of FAS 141R Business Combinations and FAS 160 Accounting and Reporting of Noncontrolling Interests in Consolidated Financial Statements, issued by the U.S. Financial Accounting Standards Board.
Application of IFRS 8 Operating Segments in Russia: First Experiences (April 2010)
IFRS 8 Operating Segments was published in November 2006 and is effective for periods beginning on or after 1 January 2009. The standard replaced International Accounting Standard (IAS) 14 Segment Reporting.
The main change introduced by IFRS 8 is the use of the “management approach”. IFRS 8 requires segment disclosures based on the components of the entity that management monitors in making decisions about operating matters.
For many companies in Russia, the new “management approach” represents a significant change from IAS 14.
This survey has been undertaken by the CIS Department of Professional Practice to analyze how IFRS 8 has been applied by Russian companies. We hope that this publication will assist client-facing teams to assess potential issues relating to compliance with IFRS 8.
First Impressions: IFRS 8 Operating Segments (July 2007)
First Impressions is a publication that is prepared upon the release of a new International Financial Reporting Standard (IFRS), interpretation or other significant amendment to the requirements of IFRSs. It includes a discussion of the key elements of the new requirements and highlights areas that may result in a change of practice. Examples are provided to assist in the assessment of implementation impact.
This edition considers the requirements of IFRS 8 Operating Segments, which was published by the International Accounting Standards Board on 30 November 2006. IFRS 8 introduces the “management approach” to segment reporting, which requires segment disclosure based on the components of the entity that management monitors in making decisions about operating matters.
First Impressions: IFRIC 12 Service Concession Arrangements (January 2007)
First Impressions is a publication that is prepared upon the release of a new International Financial Reporting Standard (IFRS), interpretation or other significant amendment to the requirements of IFRSs. It includes a discussion of the key elements of the new requirements and highlights areas that may result in a change of practice. Examples are provided to assist an assessment of the impact of implementation.
This edition considers the requirements of IFRIC 12 Service Concession Arrangements, which was published by the International Accounting Standards Board on 30 November 2006.
First Impressions: IFRS 6 Exploration for and Evaluation of Mineral Resources (June 2005)
First Impressions is a publication prepared upon release of a new IFRS or other significant amendments to the requirements of IFRSs. It includes a discussion of the key elements of the new requirements and highlights areas that may result in a change of practice for entities. Examples are provided to assist an assessment of the impact of implementing the new or revised standards.
This edition of First Impressions: IFRS 6 Exploration for and Evaluation of Mineral Resources considers the requirements of IFRS 6, and is relevant both to first-time adopters of IFRSs and to those who currently report under IFRSs.
Limited interpretive guidance is provided in this publication to aid entities in their application of the new requirements to different circumstances.
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