Новости

IVSC to address Valuation of Derivatives

The International Valuation Standards Council (IVSC) has launched a project aimed at bringing greater consistency and understanding of the techniques used for valuing financial derivatives.

EFRAG reports on the findings of the field-tests on implementing IFRS 10, IFRS 11 and IFRS 12

The EFRAG secretariat has issued a Feedback Report that summarizes the findings and input received from companies which participated in the field-tests on implementing IFRS 10, IFRS 11 and IFRS 12.

Russian legislation on JSCs possibly awaits serious reshuffle

Minority shareholders of several public companies have developed a new draft law which will soon be presented to the State Duma for consideration. If approved, the new law will allow shareholders to invest not in shares, but in what is called “partnership interest”.

Rosneft abandoning US GAAP in favor of IFRSs

One of the largest Russian oil companies Rosneft is in the course of transition to international financial reporting standards. Until today the company has been preparing its international accountancy in accordance with US GAAP.

G20 creating a new protective mechanism for Europe

Yesterday European financial ministers and leaders of G20 central banks expressed their intention to create a new protective mechanism for total volume of $2 trillion – that’s the volume of joint financial resources of the International Monetary Fund and the European Financial Stability Facility (EFSF).

AAOIFI issues two drafts on Islamic accounting

The consultation note outlines potential changes for FAS 5 and 6. Comments and suggestions will be taken into consideration in developing the exposure draft of revised FAS 5 and 6.

Update on accounting and financial reporting requirements in Kosovo

A new law on accounting, financial reporting and auditing has been approved in Kosovo. The law introduces laws defining which companies will apply which accounting standards, and it defines the powers of responsibilities of the newly formed Kosovo Council for Financial Reporting (KCFR).

Update on Ukraine’s IFRS transition

In December 2011, the National Bank of Ukraine, Ministry of Finance and Ministry of Statistics issued a joint letter clarifying the adoption of IFRS in Ukraine.

FinREC seeks clarity in principal vs. agent proposal

The AICPA’s Financial Reporting Executive Committee (FinREC) sent a comment letter to FASB stating concerns about operational challenges that could be triggered by Proposed Accounting Standards Update (ASU), Consolidation (Topic 810) - Principal Versus Agent Analysis.

MICEX-RTS: global way of thinking

The new business strategy of the united MICEX-RTS stock exchange provides creation of new financial instruments, including “mirror” indexes for certain foreign trade grounds.