Новости

Russia creating a federal service for copyright watch

As part of implementation of the controversial law on copyright (the “anti-pirate law” as it is commonly referred to), Russia will create a separate structure to deal with copyright infringements. The decision was announced during the recent meeting with Igor Shuvalov, the first vice-prime minister.

IFAC enhances organizational reporting

Organizational reporting is crucial for better understanding of an organization’s position, performance and long-term sustainability by investors, and it is surely in interests of the general public. Being a global organization that unites accountants from more than 125 counties, the International Federation of Accountants supports further development of organizational reporting and today issues Policy Position Paper 8 on that subject.

GAAP-IFRS.COM Digest: 4-11 October

Real estate tax impossible with 40% of real estate having no owners

Almost half of Russians who own apartments and cottages will be able to evade the new tax on real estate even if and when it is adopted: it appears that the state cadastral register holds no information on owners of more than 40% of real estate objects located through the country!

Russia’s government approves simplification of tax accouting

Authors of the draft law expect that after approval it will decrease administrative burden on companies and their expenses on tax administration.

Lease standard was examined for its correspondence to Islamic finances

The draft lease standard by IASB and FASB was welcomed by Sharia experts. In appendix to the AOSSG’s letter the AOSSG Islamic Finance Working Group expressed its support, although advised additional guidance in order not to get confused with disclosures.

IASB creating a work group on disclosures

In response to numerous complaints on flaws of the current information disclosure system IASB is bringing together two groups of experts.

How to raise a CFO out of you professional accountant

The International Federation of Accountants (IFAC) has published a discussion paper on a subject which is not so often raised in the accounting society. The Role and Expectations of a CFO is a document which explains modern expectations in respect of scope, professional competence, and obligations of chief financial officers.

Minfin refused to develop a program for obligatory insurance of apartments

Yet another loud failure to accomplish Dmitry Medvedev’s order to develop a plan for adoption of mandatory insurance of all house dwellings in Russia for all of its citizens. Deputy chairman of the Ministry of Finance Alexei Moiseev sent an explanatory letter to the government, saying that there was no way to adopt this type of insurance with today’s legislation.

Medvedev approves a “roadmap” to improve valuation activities

This “roadman” was developed by the Ministry for Economic Development in cooperation with the Agency of Strategic Initiatives in order to improve quality of services provided by professional appraisers.