Новости

Proposals for new CFC regime. Consultation on making corporate tax rules competitive

The government is consulting on proposals for reforming the Controlled Foreign Company (CFC) rules, in a bid to make the UK tax system more appealing for multinational companies.

Canada releases basis of conclusions on move to IFRSs

With many Canadian companies currently in their first year of reporting under IFRSs, the Canadian Accounting Standards Board (AcSB) has recently released a publication setting out its rationale and process for adopting IFRSs, rather than alternative frameworks such as United States Generally Accepted Accounting Practices (US GAAP), or retaining a separate domestic Canadian GAAP.

We happily present you our new version of GAAP-IFRS.COM!

We are happy to present yet another result of our (and yours as well!) continuous development. GAAP.RU is a group of projects virtually without limits and boundaries. We write on the subject of financial accountancy in the world in all available languages.

Russian investors left to sail freely on foreign stock exchanges

President of Russia Dmitry Medvedev charged the government with a task to lift all restrictions on placement of national issuers abroad, and yet another one – to approve the law on the Central Depository. The order came last Friday, and completion of the task is expected before 1 September.

Professional society opposes RTS-MICEX merger

Two largest Russian stock exchanges – MICEX and RTS – decided to hold a survey concerning reaction of market participants to the news on their merger. By last Friday’s evening results weren’t that pleasing: ¾ of all respondent informed that they disliked the idea.

Alternative profit measures may mislead investors

Attempts by firms to give a more accurate picture of their financial performance by reporting the underlying profit may be misleading investors.

China moves to improve accountancy industry

China has announced measures to consolidate its accountancy industry following a string of financial scandals that has shaken investors’ faith in Chinese companies listed abroad.

Russian law on transfer pricing will come in effect in 2012

Large groups of financial companies will be allowed to pay profit taxes on consolidated tax base, which mean there will be consolidated tax accountancy in respect to profit taxes. It wasn’t specified when exactly consolidated tax accountancy will be put in effect. However, officials from the Ministry of Finance have many times indicated that consolidated tax accountancy and transfer prices are, in fact, interrelated. This implies that both projects will likely become effective in 2012.

Accounting rules change leads to worries of overestimated reserves

In 2008, the stocks of many natural gas companies were sinking because of the financial meltdown, recession fears and falling gas prices. But they began to rebound after a sweeping rule change by the Securities and Exchange Commission, intended to modernize how energy companies report their gas reserves.

Accountancy profession still growing but fee income falling

The Professional Oversight Board (POB), an operating board of the Financial Reporting Council (FRC), reports that the accountancy profession membership is still growing but fee income is falling in the ninth edition of Key Facts and Trends in the Accountancy Profession published today.