Новости

EFRAG published results of consultations concerning accounting for Emission Trading Schemes

In May 2012 the French accounting standard-setter Autorité des norms comptables (ANC) published its suggestions on how to account for Emissions Trading Schemes – special quotas representing companies’ rights to pollute environment with greenhouse gases. In order to get people’s attention to that important subject, the European Financial Reporting Advisory Group (EFRAG) launched its own consultations in December. Today it is presenting their results.

Michel Prada insists on integrity of IFRS

Chairman of Trustees of the IFRS Foundation Michel Prada warned against certain IFRS jurisdictions’ attempts to “tweak” global standards to better reflect specifics of their national economies. We may easily guess that to a known extent Mr. Prada’s warnings are aimed against the European Union’s recent initiative to use financing as means to affect standard-setting activity the IASB.

American dollars may be completely banned in Russia

In May, we wrote about proposals by the State Duma’s deputy Mikhail Degtyaryov from the Liberal Democratic Party who had suggested that circulation of USD in Russia’s economy should be prohibited.

Editorial corrections to IFRS - 2013

The International Accounting Standards Board has published a set of its traditional annual editorial corrections to IFRS standards which affect the “Blue book”, the “Red book”, and “A Guide Through IFRS 2013”.

Russians don’t like the idea of non-cash settlement of large accounts

Not long ago the Ministry of Finance of the Russian Federation decided to delay implementation of its new rules to oblige everyone to settle large payments not in cash, but with a bank account. The upper limit for transactions potentially allowed for cash settlement was lowered from initial 600 thousand roubles to 300 thousand, although delayed for adoption for one year (until 1 January 2016).

Oil companies in the US demand confidential disclosures with SEC

In August 2012 the Securities and Exchange Commission finalized rules to force mining companies to disclose payments they make in favor of all governments (where they have operations) to acquire extraction permission for oil, gas, minerals and other types of natural resources.

ACCA teaching its students rules of business communication

The Association of Chartered Certified Accountants (ACCA) added two “soft skills” to its online courses which should teach candidates basic rules of business communication without which it is hard, if not impossible to work with other people in today’s business environment.

Russia CDs will be individualized

Bank certificates of deposits (CDs) in Russia may potentially compete in popularity with just deposits (money simply held at bank accounts). The Ministry of Finance today has plans to turn all certificates of the “payable on demand” category into individual ones, payable to a designated person.

Belarus adopting a new tax on “parasitism”

Belarus is re-adopting practice which was quite common in times of the Soviet Union. The country’s ministry of finance informed about preparation of a new tax – the tax on “parasitism”.

GAAP-IFRS.COM Digest: 4-8 November