Новости

EFRAG responds to the IASB’s consultations on unit of account for investments

The European Financial Reporting Advisory Group (EFRAG) today presented a draft version of its commentary letter to the IASB’s consultations. The international standard setter, we remind, plans amendments to 6 accounting standards, also specifying the notion of unit of account as related to investments in subsidiaries, joint and associate entities. Those were issued on 16 Septembers 2014.

Ukraine is now in Top-100 countries most suitable for Doing Business, although there is still a long way ahead

We can’t say for certain whether there is a relation here or not – let alone the fact that the tendency holds not for the first year – but after the revolution it became slightly easier to do business in Ukraine. Last year it was on the 112th position out of possible 189, but this year it is already on the 96th place.

Pan-European use of financial information – a new study

Quite often we say that users of financial accountancy ground their economic decisions on information they get from financial statements. But is that really so, and if yes, then how exactly that happens – have you ever thought of it?

“Rosneft” proposing Putin to adopt “radical” response sanctions

Russia’s largest oil mining company (the one which not long ago applied for 2 trillion roubles of financial support out of the National Welfare Fund) is today advising Vladimir Putin to adopt response sanctions against Western economies. The proposals may be called “striking” and even “radical”. The corresponding letter was already sent to Putin. The document is now being examined in the presidential administration and in particular – by the presidential aide Andrei Belousov.

SMEIG presents final report with its recommendations to IASB

The SME Implementation Group (SMEIG) has presented its final report with recommendations to the International Accounting Standards Board concerning the draft version of amendments to IFRS for SMEs which the latter had published last year.

EFRAG comments on the IASB’s September publication on rate regulation

Today experts from the European Financial Reporting Advisory Group share their own opinion. First of all, they welcome that publication by the IASB and, in particular, the decision to analyze most typical approach to rate regulation called «defined rate regulation». They, however, do not advice the Board to stop there because this publication should become a starting point for further work.

IFRS Foundation formally responds to European Commission’s consultations on IFRSs

Today the IFRS Foundation – which means the standard-setter itself – expresses its opinion. Quite understandably, the developer thinks that IFRS adoption imposed positive influence on financial accounting practices in Europe and greatly contributed to the European Commission reaching its own important objectives.

4 key principles of management accounting

The Chartered Institute of Management Accountants (CIMA) and the American Institute of Certified Public Accountants (AICPA) today jointly presented their version of four key principles of management accounting which are aimed to improve decision-making in companies, especially the ones which have to process large volumes of information, deal with high pace of changes, or dispersed personnel.

Mary Crotty appointed as a new operating director of FAF

Last week the Financial Accounting Foundation (FAF) announced who would be its next operating director. To this position they recently appointed Mary P. Crotty who came to the FAF team from the Bank of America (there she used to work as a managing director and for the last four years led the Corporate Compliance and Regulatory Relations groups).

Results of stress testing in European banks raise worries

The European Central Bank (ECB) and the European Banking Authority (EBA) have concluded their recent check of 123 largest financial institutions for resilience. The results are available at the ECB’s website (click here for the official press-release and details).