PROCEDURE FOR REFLECTING THE RESULTS OF FINANCIAL AND ECONOMIC ACTIVITIES IN THE FORMS OF FINANCIAL REPORTING IN ACCORDANCE WITH IFRS
The financial result of each organization, regardless of the multidirectionality of functioning, is an indicator of economic activity. Due to the requirements of the legislation, as well as the change in the system of public relations and the civil legal environment, the relevance began to acquire a significant part in the essence of the transition of the Russian Federation to a greater extent to International Financial Reporting Standards. When collecting information for the report on the financial and economic activities of the enterprise, provided for by the accounting standards of RAS, the detailing of items is minimized when compared with IFRS. The disclosure of information on expenses directly differs in the reporting, this is due to the fact that some provisions of IFRS are missing in the system of accounting standards RAS. The fundamental methods for separating the expenses of an organization for both RAS and IFRS are 2 methods: -the nature, -by function. The existing inconsistencies in the legislation make it possible to eliminate the identity of the formation of the articles of the report on financial results.