Новости

Public companies in Russia will start to present IFRS accountancy in 2013 – but again, in Russian

The Ministry of Finance informed that Russian companies with public accountancy would have to present their accounts prepared under IFRSs starting from 2013. That’s for certain as international standards were not long ago fully endorsed.

S&P’s new methodology raised ratings of Russian banks and did the opposite for foreign ones

Standard & Poor’s applied its new methodology which allows more precise estimation of current risks. It led to higher ratings of Russian banks (good resource base acts in favor of it) and did the opposite in case of western banks’ rating.

Rouble becomes Ukraine’s reserve currency

Next year Russian rouble will become Ukraine’s reserve currency. On that informed president of the National Bank Sergei Arbuzov.

EU summit produced half-measures to save euro

Summit of the EU countries produced a budget treaty to be shared by 17 countries of the Eurozone and 6 more of the European Union. 200 billion euro will be provided to the IMF to increase its credit resources.

EFRAG requests deferral of the effective dates of IFRS 10, 11 and 12

EFRAG requests the effective date of IFRS 10, IFRS 11, IFRS 12, IAS 27 and IAS 28 to be deferred to the later of (a) 1 January 2014 or (b) 12 months after the amendments to IFRS 10 and the standard on investment entities have both been published.

GASB Proposes Financial Projections for Assessing Economic Condition of Governments

The Governmental Accounting Standards Board (GASB) today proposed that state and local governments should present five-year projections of cash inflows, cash outflows, and financial obligations that would accompany their financial statements as required supplementary information.

69 banks in Russia still not ready for the New Year

Russian banks have less than a month to get their capital in line with the new requirements – 180 million roubles at min. Those are coming into force on 1 January 2012. According to the Central Bank’s estimations, this time much less banks are not ready for it than two years ago, when there was another recapitalization – 69 banks today, 82 banks in 2009.

Criminal liability for creation of fly-by-night companies is in effect

The president of Russia has signed an order which provides criminal penalty for creation of “fly-by-night companies”.

37 IFRSs and 26 Interpretations endorsed in Russia

The Ministry of Finance, the Central Bank and the Federal Financial Markets Service have published their joint order on endorsement of international financial reporting standards and interpretations in Russia.

SME Implementation Group publishes two final Q&As

The SME Implementation Group (SMEIG) today published two question and answer documents (Q&As) on the IFRS for SMEs.