Comparative characteristics of russian and foreign approaches to the formation of information on financial results in the reporting
The statement of financial performance is a report of an economic entity on income and expenses in a specific time period. Information about the report on the financial result is necessary both for filling out the report and for its analysis. Currently, Russian accounting is moving closer to international financial reporting standards, but there are still differences in the preparation. The article discloses the concepts of financial results and compares the characteristics of the formation of articles of the report on financial results regulated by Russian law and the articles regulated by IFRS 1.