Новости

Era of cash money possibly coming to an end in Russia

Another potentially interesting suggestion was made during the presentation of the first vice-chairman of the Bank of Russia Georgy Luntovsky at the same International Banking Congress in St.-Petersburg. He said that in 10 years cash money will possibly be completely out of circulation (in Russia).

CB of Russia doesn’t completely exclude the possibility to use Bitcoins

Rhetoric of the Central Bank of Russia has become milder since February when it didn’t want even to hear anything about using cryptocurrencies in economic transactions.

EFRAG: draft comment letter on macro hedging

The European Financial Reporting Advisory Group (EFRAG) presented a draft version of its comment letter this week which concerns the IASB’s discussion document on macro hedging.

EFRAG invites companies to share their thoughts on leases, again

The European Financial Reporting Advisory Group (EFRAG) together with national standard setters of four European countries (ANC, ASCG, FRC, and OIC) is holding additional public consultations concerning different accounting approaches to leases which were once proposed by the IASB and the FASB.

IFAC and CIPFA present their joint Framework for good governance in public sector entities

The International Federation of Accountants (IFAC) and the Chartered Institute of Public Finance and Accountancy (CIPFA) today issued their joint International Framework: Good Governance in the Public Sector.

IASB amends accounting for bearer plants in IAS 16 and IAS 41

The International Accounting Standards Board introduced amendments to IAS 16 “Property, Plant and Equipment” and IAS 41 “Agriculture” this week. The main thing to remember is the new accounting order for bearer plants.

Equity method of accounting – KASB’s view

The Korean Accounting Standards Board (KASB) is today providing its input to the IASB’s research work on the equity method of accounting by presenting a discussion paper with three alternative concepts.

Russia may return the sales tax into practice

The government of Russia is today studying a possibility for allow its regions to adopt the sales tax – told head of the Ministry of Finance Anton Siluanov.

SEC approved long-awaited rules for cross-border trading with derivatives

Foreign banks engaged in international trade with derivative instruments (meaning security swaps) with American organizations will now have to pass mandatory registration in the Securities and Exchange Commission.

New law on consumer crediting is now in effect in Russia

Today (1 July) a new law on consumer crediting came into force in Russia. Banks which used small print in their loan contracts will have to change it because it is now unacceptable. Likewise, conditions which are not written in a loan contract at all won’t matter anymore.