Новости

IASB provides relief for novation of derivatives

The International Accounting Standards Board (IASB) today published narrow-scope amendments to IAS 39 Financial Instruments: Recognition and Measurement entitled Novation of Derivatives and Continuation of Hedge Accounting (Amendments to IAS 39).

FASB proposes improvements to financial reporting of going concern uncertainties

The Financial Accounting Standards Board (FASB) today issued a proposal intended to improve disclosures of uncertainties related to an organization’s ability to continue as a going concern. Stakeholders are asked to review and provide comments on proposed Accounting Standards Update, Presentation of Financial Statements (Topic 205): Disclosure of Uncertainties about an Entity’s Going Concern Presumption, by September 24, 2013.

Economic amnesty in Russia will be ready in half a year

The State Duma recently acquired a draft law on economic amnesty which it will consider on 2 July. If it is approved, around 10 thousand businessmen may be released from prison. Consideration of all accompanying details of economic amnesty’s implementation should not take more than 6 months.

Russian tax services agree that explanatory notes should be a required item in financial accountancy

The  Federal Tax Service supports the Minfin’s opinion that explanatory notes are required among other obligatory accounting forms. For that it officially recognized the Minfin’s recent letter from 23 May 2013 as guidance to be followed by taxmen in their work.

Minfin advised auditors to pay special attention to non-FATF countries

In its letter from 6 June the Ministry of Finance reminded auditors on necessity to follow the risk-based guidance for auditors by the Financial Action Task Force (FATF) group. Special attention should be paid to clients who make transactions with money or property with counteragents in offshore jurisdictions or companies that don’t follow anti-money laundering FATF recommendations.

FRC thought leadership on disclosures to improve financial reporting receives broad support

The FRC has today issued feedback on its discussion paper “Thinking about disclosures in a broader context”. In October 2012, the FRC published a discussion paper setting out a roadmap for a disclosure framework designed to encourage more relevant financial reporting including beyond the confines of the financial statements.

IASB issues proposals on bearer plants

The International Accounting Standards Board (IASB) today published for public comment an Exposure Draft of proposals to include bearer plants within the scope of IAS 16 Property, Plant and Equipment.

EFRAG and the National Standard Setters ANC, ASCG, FRC and OIC invite companies to participate in field-testing the proposed new accounting for insurance contracts

On 20 June 2013, the IASB issued the revised Exposure Draft Insurance Contracts (ED) containing proposals on the recognition, measurement, presentation and disclosure of insurance contracts. EFRAG and National Standard Setters are performing a field-test in order to evaluate how these proposals would affect European companies applying IFRS. This field-test is carried out by EFRAG with the National Standard Setters ANC, ASCG, FRC and the OIC in coordination with the IASB staff. Additionally, Insurance Europe has agreed to encourage their members to participate.

Vile top-managers in banks may be forced to compensate losses

According to information provided by the Deposit Insurance Agency of Russia, for the last 8 years unfair managers in banks issued too many credits at knowingly non-market terms, thus damaging their banks for above 150 billion roubles. Today it is being discussed how to make those violators pay.

Nonprofit companies in Russia will possibly be allowed to do accounting on their own

The government of Russia has introduced a new bill to the State Duma for Consideration. It deals with amendments to the federal law “On financial accounting” where it relates to accounting in nonprofit companies.