CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING IN RUSSIA
The article is devoted to the Сonceptual framework for Financial Reporting, adopted by the IASB (International Accounting Standards Board) and entered into force in June 2014 on the territory of Russia. Examines the main provisions of existing conceptual framework; they are compared with the previous concepts, the attention of the users of the financial statements is drawn to significant changes made by the IASB in the existing conceptual framework. The author underlines that the using of IFRS and conceptual framework of financial reporting in Russia should become an important step not only in the activities of large organizations, but also to serve as a major impetus in the development of small and medium businesses, to improve the transparency, reliability and comparability of small organizations reporting.