TRANSFORMATION OF RUSSIAN ACCOUNTING REPORTS INTO THE MSFO FORMAT - AS A FACTOR OF INVESTMENT ATTRACTIVENESS OF RUSSIAN COMPANIES
The urgency of this topic is conditioned by the process of implementation of International Financial Reporting Standards (IFRS) in the Russian accounting system against the background of integration of economies of the countries of the world in order to increase the financial reporting performance of Russian companies taking into account their specifics. In order to maximize their profits, Russian companies now need to enter the international capital market and attract foreign investments. To be able to attract foreign investments, it is necessary to provide potential investors with accounting (financial) statements prepared in accordance with IFRS, as these standards ensure reliability of the prepared accounting (financial) statements and objectivity of the company's financial position. The purpose of this study is to identify ways to improve the methods of transformation of the Russian companies' financial statements in accordance with IFRS. The object of the study is accounting activities in Russia. The subject matter is transformation of accounting statements into the IFRS format. The article deals with the methods of transformation of financial statements in accordance with the Russian and international accounting systems. Conclusions are made on the efficiency of transformation of the statements and the prospects of applying transformation of the statements in the Russian accounting practice.