Новости

Big problems of Russian mortgage borrowers will possibly be solved only after the winter holidays

Quite understandably, after the recent rouble crush Russian people who took mortgage loans in foreign currency now found themselves in a very big trouble: with more than 100% rouble depreciation they now have to repay amounts so huge they can’t possibly afford. It is obvious that support from the government’s side will be needed, although the government is not eager to provide it straightaway.

US GAAP Taxonomy 2015 ready

When the IFRS Foundation is continuing to adopt intermediary narrow amendments to the current version of IFRS Taxonomy 2014, their colleagues from the American Financial Accounting Standards Board (FASB) already presented a complete final version of “2015 GAAP Financial Reporting Taxonomy”. It is still awaiting signature of the Securities and Exchange Commission as part of the standard approval order, although it is only a technical nuance.

GAAP-IFRS.COM Digest: 15-19 December 2014

IFRS narrow-scope amendments for investment entities ready

The set is titled “Investment Entities: Applying the Consolidation Exception”. It introduces additional clarifications to accounting of investment entities. The amendments are expected to provide easier application on the standards.

Yet another interim update to IFRS Taxonomy 2014 ready

It has been slightly more than a month since the latest interim IFRS Taxonomy update (see: “IFRS Taxonomy amended with IFRS 15”), but today the IFRS Foundation is proposing even more: Proposed Interim Release 3 has been presented for public comments.

CB of Russia sees as possible to restrict buy and sell spreads on foreign currency

According to the Bank of Russia’s vice-chairman Mikhail Sukhov, a harsh approach may be required to “cool down” the temper (of market participants probably) in the current extreme economic conditions.

IAASB will further focus on audit quality and raising public confidence in the audit profession

The International Auditing and Assurance Standards Board (IAASB) will continue to focus its attention on audit quality and raising public confidence in what auditors do (thus - in financial accountancy as a whole). This may be concluded upon examining its new Strategy and the Work Plan.

IASB done with more corrections to IAS 1 as part of its “Disclosure Initiative”

The International Accounting Standards Board yesterday presented another set of amendments to its standard IAS 1 “Presentation of Financial Statements” which it had developed as part of its larger “Disclosure Initiative” project to improve financial disclosures under IFRSs.

“Elements” of currency regulation, already

Russia’s prime-minister Dmitry Medvedev held a meeting with leaders of the largest Russian exporting companies this Wednesday. Among those were: Igor Sechin (“Rosneft”), Alexei Miller (“Gazprom”), Vladimir Potanin (“Nornikel”), Vagit Alekperov (“Lukoil”), Leonid Michelson (“Novatek”) and others. During that meeting it was decided to ensure stable and continuous sale of all foreign currency revenues by those companies. On that informed “Vedomosti” with a reference to a government official and an employee of one of those companies.

Visa’s decision to leave or to stay in Russia will depend on the new sanctions

Whether Russians will be able to use plastic cards from Visa further on not will all be decided before the New Year holidays. However, rumors on the company’s possible suspension of operations in Russia have deeply disturbed the local business society, already restless even without it.