THE DEVELOPMENT OF INTEGRATED ACCOUNTING IN SMALL AND MEDIUM-SIZED COMPANIES IN THE AGRI- AND FOODSECTOR OF THE RUSSIAN FEDERATION

Burykin Yuriy, Klychova Guzaliya and Harry J. Bremmers

APSTRACT: Applied Studies in Agribusiness and Commerce, 2012, vol. 06, issue 01-2, 6

Abstract: This paper focuses on the regulation of financial accounting in SMEs in the agri- and food sector in Russia. The paper presents the factors which influence the accounting system and the quality of the information it provides. The information and reports that are prepared according to international standards are not comparable with reports prepared by Russian standards. They do not facilitate external users in gathering relevant information on the current financial position. The present usage of different systems for procuring information to satisfy the needs of multiple stakeholder groups takes time, distorts information, and often does not provide a true and fair view on business performance. One way to overcome this is the use of an integrated accounting system which allows, within the limits of Russian legislation, to provide a broad information base for external reporting. International standards could be used like IAS41 or those applied in the Farm Accountancy Data Network (FADN). The derived data could be used for attraction of investments, presentation of information to all interested users, comparison of results of activities in similar companies, and as a benchmark for the activities of companies in various regions and/or segments. They could be used to compare Russian companies with similar ones in the European Union. This paper describes the benefits and pitfalls which companies potentially experience from implementing an integrated accounting information system for company management and financial reporting purposes in the Russian Federation.

Keywords: Agribusiness; Financial Economics (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/138100/files/18_Burykin_Apstract.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:apstra:138100

DOI: 10.22004/ag.econ.138100

Access Statistics for this article

More articles in APSTRACT: Applied Studies in Agribusiness and Commerce from AGRIMBA
Bibliographic data for series maintained by AgEcon Search ().