Новости

Less than zero: How companies can end up with negative revenues

Even savvy investors are often puzzled at how some companies arrive at the bottom lines on their income statements. Now, as a result of ever more elaborate new accounting standards and complex corporate structures, the top line can be just as bewildering.

Financial Accounting Standards Board announces public roundtable meetings to solicit input on private company accounting and reporting issues

The Financial Accounting Standards Board (FASB) has announced that it will again host two public roundtable meetings this fall to discuss issues relating to existing private company accounting and reporting standards.

U.S. and Chinese regulators meet in Beijing on audit oversight cooperation

The Sino-U.S. Symposium on Audit Oversight was held in Beijing on July 11-12, 2011. In attendance were officials from the U.S. Securities and Exchange Commission, U.S. Public Company Accounting Oversight Board (PCAOB), China Securities Regulatory Commission (CSRC), and Chinese Ministry of Finance (MOF). The symposium, which was contemplated by the outcomes of the third U.S.-China Strategic and Economic Dialogue (S&ED), represented an important step toward Sino-U.S. cooperation on audit oversight of public companies.

Minfin of Russia counts on foreign financing

The Ministry of Finance of the Russian Federation has prepared and presented to the government its “Basics of debt policy of Russia for 2012-2014”. The document prepared by the ministry informed on unprecedented volume of borrowings for which they will have to go to decrease budget deficit during the next three years – 2 trillion roubles each year.

S&P drops US rating, global markets follow

At the end of the day the decline of Russian RTS index intensified. As of 5-30 p.m. it reached 5.97% (1691.42 pts.). The MICEX index follows, although to a lesser extent (4.15%, 1521.17 pts.).

Basics of accounting are vital to survival for entrepreneurs

Few people start a business because they are good with numbers. In fact, the terms “accounting” and “financial analysis” tend to put business owners to sleep or send them screaming from the room. But to run a business effectively, most owners need to have some understanding of their finances. It is, for example, entirely possible for a company to be profitable but fail anyway because it does not have enough cash coming in to pay its bills.

US and China fail to agree on cross-border auditing standards

On July 11-12, US regulators flew to Beijing in part to address the series of financial scandals of Chinese companies listed in America, but failed to agree upon a standard set of cross-border auditing standards with their Chinese counterparts.

Russia selling out its property

Before 2017 Russian government has plans to sell out assets worth 6 trillion roubles. Certain sources indicate that that’s the approximate value of privatization of Russia’s largest banks and state-controlled companies. To compare with, the federal budget’s income in 2012 is expected at the level of 10.615 trillion roubles.

Russian Central Bank’s deputy resigns, possibly due to failures with bank regulation

First deputy chairman of the Bank of Russia Gennady Melikyan (who was in charge of bank regulation) yesterday confirmed his decision to resign. Recently, bank supervision has been under fire of harsh critics after scandalous cases with Mezhprombank and even in the fifth-largest Russian bank – the Bank of Moscow.

Russian companies drown in paperwork because of obscure requirements on insiders

Russia’s professional market participants who started to form their lists of insiders (as it is required by the new law) are meeting certain difficulties due to obscure formulation of requirements. By December 31, 2011 they will all have to present lists of their insiders to stock exchanges where they are listed.