Новости

EFRAG comments on the recent amendments to IAS 12

The amendments clarified some of the paragraphs and contained illustrative examples. The commentary period is still active, so everybody has an option to comment by 18 December. Today the European Financial Reporting Advisory Group presented a draft version of its letter to the International Accounting Standards Board.

GAAP-IFRS.COM Digest: 8-12 September

Opposition in the State Duma warns that the national payments system won’t be profitable

An opposition deputy of the State Duma Ilya Ponomaryov from the “Just Russia” political party recently sent a letter to the Central Bank’s chairperson Elvira Nabiulina, warning that the National payment cards system will not have free market perspectives. To put it another way, it won’t generate profits while taxpayers’ funds being assigned to its development from the budget just won’t be spent efficiently.

Russian banks open correspondent accounts in Asian banks “just in case”

In connection with approval of additional sanctions representatives of the Russian banking sector open correspondent accounts in Asian banks (first of all in China, Hong Kong, and Singapore) to at least partially insure themselves against possible freezing of assets in their European branches.

Looks like the CB has found a replacement for SWIFT

The Bank of Russia is searching for an alternative to the interbank data processing system SWIFT (the Society for Worldwide Interbank Financial Telecommunications). The regulator advises banks to use its own tools to process accounts in Russia. However, bankers say that the existing Russian technologies are not developed well enough to be used instead of SWIFT even for internal settlements, let alone international ones.

S&P says that tax inversion may decrease credit ratings

According to one of the recent reports by the international credit rating agency Standard & Poor’s, taking HQ to a lower-tax jurisdiction with the only purpose to economize on taxes may have an adverse effect on a company’s ratings. This phenomenon is called “tax inversion”.

IASB presents amendments to IFRS 10 and IAS 28

Yesterday the International Accounting Standards Board issued narrow-scope amendments to two standards, IFRS 10 “Consolidated Financial Statements” and IAS 28 “Investments in Associates and Joint Ventures” (2011).

New Zealand redrafted standards for Tier 1-2 non-profit PBEs

The New Zealand Accounting Standards Board presented a redrafted framework of accounting standards for so-called “Public Benefit Entities” (PBEs). In this particular case the regulator clarified accounting requirements for non-profit entities of the “upper” two tiers.

Putin okays the sales tax

Yesterday Vladimir Putin approved adoption of the sales tax, although, as he said, the very final decision is still left to the government. The message came from two unannounced federal public servants – informs “Vedomosti”.

eBay will soon accept bitcoins

PayPay, the payment service of the largest electronic auction eBay, will soon start to accept cryptocurrencies as means of payment. On its plans recently informed CEO of Braintree (an eBay’s division) Bill Ready.