Role of Accounting in Maintaining Concept of National Economy Steady Development

Ludmyla Khoruzhiy ()
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Ludmyla Khoruzhiy: Russian State Agrarian University – MTAA named after K.A.Timiryazev

Oblik i finansi, 2013, issue 3, 57-61

Abstract: The article covers the issues of possibility of accounting and its constituents in solution the problems of steady growth of national economy of the Russian Federation. These opportunities are implemented through the principal accounting intellectual resource of post industrial society, namely, the International Financial Reporting Standards. Based on this, the historical aspects of IFRS implementation in Russian companies have been observed. Problems associated with the use of international standards in Russia has been analyzed, namely, the problem of application of fair value and historical cost estimate, problems concerning both the need for bringing national and international accounting rules in conformity with each other and with internal methodological and organizational IFRS conversions. A range of issues which need solutions have been raised, which, in the author's opinion, would become of paramount importance due to upcoming changes in the system of international accounting standards aimed at convergence of IFRS and U.S. GAAP, which will have an impact on accounting methodology in Russia. Key vectors of accounting strategy development modernization in Russia have been identified, including those in the framework of convergence with IFRS, which are constantly changing. Problems of weakening research and teaching component of accounting has been outlined which serves as additional barrier to achieving the goal of improving its methodology, it also reduces the role of teachers and researchers in development of accounting and economics as a whole.

Keywords: accounting; methodology; International Financial Reporting Standards; assessment; fair value; scientific and educational accounting component (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2013
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