COMPARATIVE ANALYSIS OF THE PRINCIPLES OF RAS AND IFRS ON THE EXAMPLE OF JSC "RUSSIAN RAILWAYS"
The problem that a business faces in conditions of constant integration processes is the very method of financial accounting. In many countries it is formed on the basis of national traditions and legislative characteristics that leads to the incomparability of some data. Due to the current situation potential investors of the company at the time of making a decision to buy shares or CFOs contemplating diversifying risks or reclassifying assets from the category of cash to financial investments may make a mistake that will lead to large financial losses. To solve this problem international financial reporting standards (IFRS) were developed. They make it possible to unify the principles for the formation of reporting by introducing uniform elements of accounting policy, define a clear composition of indicators and rules for their assessment, establish uniform requirements for the provision of information and its quality. The process of adopting IFRS and converging them with national legislation is happening everywhere, however, for the main users of financial statements it is important to understand the difference in the prepared statements according to international and Russian standards.