Institutional Analysis of the Regulatory and Legal Framework for Financial Reporting Control in Russia

E.M. Akhmetshin, N.A. Prodanova, L.B. Trofimova, P.S. Probin, O.G. Grigorieva and V.V. Smirnova

European Research Studies Journal, 2018, vol. XXI, issue Special 3, 130-141

Abstract: The study contains the main approaches to the determination of various institutions affecting Russian accounting from the standpoint of their formal and informal types. In modern conditions, the economic actions of a subject must be matched to external factors that determine the correctness of economic decision-making, as well as consistency and the development of correct patterns and behavior algorithms that are most effective for each specific situation. Through the institutional analysis, the authors have identified several inconsistencies in the regulatory framework of related institutions and suggested ways to eliminate these disparities. Inter-institutional discrepancies have been found between law and accounting institutions, indicating non-compliance in the accounting practice of the substance over form principle, between recognition in the bookkeeping and tax accounting of the transfer of assets and liabilities ownership, as well as differences in the recording of investment real estate in the financial statements according to IFRS institutions and Russian national standards.

Keywords: Institutional analysis; accounting; financial statements; IFRS; right of property; investment property. (search for similar items in EconPapers)
JEL-codes: G20 K11 M40 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxi:y:2018:i:special3:p:130-141

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