Новости

Forthcoming Issuance of Exposure Drafts to Amend Statement 140 and Interpretation 46(R)

The Financial Accounting Standards Board (FASB) has announced that it expects to issue three separate but related Exposure Drafts on or around September 15, 2008, for public comment.

Frauds will affect banking capital

The Central Bank of the Russian Federation wants banks to take operational risks into account while calculating their capital. Experts say that this innovation will have an inevitable negative affect on banks’ capitalization, and the ones to suffer more than others are credit organizations with equity below 5 million euro.

Accounts Chamber to evaluate Russia’s “effectiveness”

The Accounts Chamber of the Russian Federation is coordinating the work of an international task force to present a number of new national-type indicators of the country’s development by 2010. Soon they will allow to estimate Russia’s “effectiveness” in respect not only to economic parameters like GDP, inflation, capital inflow, but social parameters as well – for instance, social security, unemployment and even life satisfaction and happiness.

IFRS XBRL Taxonomy Guide Published

The International Accounting Standards Committee Foundation has published a guide to the Extensible Business Reporting Language version of International Financial Reporting Standards.

FFMS plans to simplify taxation of derivative instruments

The Russian government’s committee on legislation has approved the concept developed by the Federal Financial Markets Service (FFMS). It deals with taxation of derivatives. By introducing minor amendments to the Internal Revenue Code, the ministry plans to increase investment attractiveness of those financial instruments. In fact, those are the first important changes of the Russian legislation introduced as part of the major project of making an international financial center out of Moscow.

FRC faces caution on “going concern”

Companies urged caution on the accounting watchdog on Monday after its proposals that directors should lay out clearly any significant doubts over whether the business was a going concern.

ICAI raise concerns over mandatory ROS filing

The introduction of mandatory tax payment and tax return filing on the Internet brings us into a new era, but not necessarily a better one, according to the Institute of Chartered Accountants in Ireland (ICAI).  The Revenue Commissioners will now apply a penalty of ?1,520 to large companies for failure to file and pay electronically.

CB increases capitalization requirements

The Bank of Russia plans for prepare a set of amendments to the law “On banks and banking activity” in September, setting higher requirements for banks in respect to their capital.

Minfin plans to cut applicability of simplified taxation

Scale of application of the simplified taxation system (STS) in Russia will be radically decreased – although Russian companies need not start worrying immediately because those changes are not expected sooner than 2010.

Record numbers pass ACCA exam

The ACCA examinations in June were taken by a record 164,646 candidates taking a total of 335,566 papers across different levels.