Name
Kesyan Svetlana Vagramovna
Scholastic degree
•
Academic rank
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Honorary rank
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Organization, job position
Kuban State Agrarian University
Web site url
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Articles count: 5
For national financial accounting, fair value is really a problem. The reasons for that are various. First, there is an opinion that assessment procedure is not accounting "case", we have appraisers for that. The entities do not hurry to estimate fair value independently not to violate the law on assessment. They do not do it for the reason that transition from estimates on original cost to estimates is at fair value quite reasonable and we accept from the point of view of improvement of quality characteristics of the reporting, and here the return transition is rather complicated, even, one may say, is impracticable. Often, estimates at fair value are considered as the instrument of a fraud, a manipulation financial results and the financial reporting in general. Besides, use of estimates at fair value increases expenses on creation of the financial reporting that not every entity is able to afford in the conditions of national business. Use of fair value can significantly influence indicators of activities of the entities, and not always positively. In addition, certainly, assessment at fair value is a professional judgment for which in most cases nobody wants to bear responsibility. Nevertheless, as we are headed for IFRS, we shall promote overcoming difficulties of use of fair value for the purpose of creation of IFRS reporting. There is a popular belief that the IFRS reporting are constructed on fair value. To some extent, this is true, but fair value is a multidimensional concept. For example, historical cost value of the asset purchased for money for date of transaction can be "fair" cost. The "fair" cost of the current receivables corresponding to recognition criteria an asset is the amount of its settlement. The "fair" cost of the obtained bank loan is the current (amortized) liability size for date of the financial reporting. However, this view of fair value is represented narrow-minded and can be sufficient unless for general idea about IFRS - the reporting, but cannot be used in the professional environment
Despite a voluntary nature of creation of the financial reporting by the Russian organizations according to international accounting standards, the Federal law No. 208-FZ "About consolidated financial statements" which establishes general requirements to creation, representation and disclosure of consolidated financial statements by the legal entity created in accordance with the legislation of the Russian Federation was issued on July 27, 2010. The law carries to a number of such organizations: 1) credit institutions; 2) insurance companies (except for the medical insurance companies performing activities only in the sphere of compulsory medical insurance); 3) non-state pension funds; 4) managing companies of investment funds, mutual investment funds and non-state pension funds; 5) clearing organizations; 6) the federal state unitary enterprises which list affirms the Government of the Russian Federation. Thus, the Russian organizations constituting the consolidated statements have to do it strictly according to IFRS, starting with the reporting of 2012. Preparation of the reporting under IFRS in the companies requires fixed tracking of innovations in standards, permissions of matters of argument and treatments by separate provisions, increase in speed of data collection and processing for improvement of quality of the reporting and terms of its closing. For this reason, there is a need for involvement of specialists in creation of the Russian reporting according to IFRS. This profession is demanded first of all in the foreign organizations whose Russian divisions are obliged to report on a regular basis to head offices. However, recently in Russian companies which are trying to come to foreign markets or interested in foreign investments these specialists are also required
International standards of the reporting establish distinction between concepts of revenue and the income in general. So, according to the Concept of Council for IFRS, the income is the growth of economic benefits during the accounting period in the form of inflow or enhancement of assets or decrease in liabilities which lead to increase in equity, and the last isn't connected with deposits of participants in equity. In the document it is also specified that this determination of the income concerns both "revenue", and "other incomes". The first arises during regular economic activity of the entity and can include: proceeds from sales of goods, works, services; remuneration; percent; dividends; royalty; rent. Other incomes represent other articles corresponding to determination of the income and can appear during regular economic activity of the organization. Within IFRS such receipts are a result of other transactions which don't generate revenue, but are auxiliary in relation to the main, profitable, activities. In the reporting the difference between the income and expenses according to such transactions is specified. For example, in case of disposal of non-current assets, including investments and operational assets, the amount of receipts from this transaction less the corresponding costs for sale is reflected. According to IFRS the amount of revenue is estimated at fair value compensation which the firm received or only expects to receive. At the same time the amounts of the trade and wholesale discounts provided by the entity are considered. Let's note that the Russian principles of accounting don't allow discounting. Therefore the companies trading by installments should make adjustments in case of transformation of the financial reporting according to international standard
The import substitution problem, that is replacements on the Russian commodity market of foreign production with domestic, is not new and periodically rises including the country leaders. In the first queue, import substitution connects with the solution of one of the main objectives of economy of Russia – its diversification. However, an attempt to develop complete policy of the power was made only after imposition of sanctions. So, it was told about need of overcoming critical dependence on foreign technologies and industrial output in the message of the Russian President to Federal Assembly at the end of 2014. The Russian President Vladimir Putin urged to use the situation developing in connection with sanctions for an exit to new boundaries of development and during "straight line" in April of the current year. Now, by estimates of the government, the import share in various industries of economy is extremely high. For example, Russia imports in civil aircraft construction more than 80% of accessories, in heavy engineering – about 70%, in the oil and gas equipment – 60%, in the energy equipment – about 50%, in agricultural mechanical engineering to dependences on category of products – from 50% to 90% of details etc. The opinion is popular that the moments, heavy for economy of Russia, connected with decrease in foreign demand for the raw materials delivered by Russia and natural devaluation of ruble are a peculiar window of opportunities for development of the domestic industry and deepening of import substitution. However, despite a number of the "successful" moments in this sense, is, for example, crises of 1998 and 2008, the state did not use them fully
The present stage of the development of agrarian and
industrial complex of Russia is characterized by activization
of processes of intereconomic cooperation, vertical
integration, promoting structural reorganization of agrofood
subcomplexes, transformation of the exchange and
distributive relations, activization of investment processes
and innovative modernization of production and technological
base of agro-industrial production. In the conditions
of preservation of disparity of the prices of an
agricultural and industrial output, structural disproportions
in a level of development of branches of agrarian
and industrial complex, an unstable financial position of
many agricultural producers, growth of cost of credit
resources of the most demanded strategy of the integrated
growth is. Vertical integration acts as a way of structural
modernization of agrarian and industrial complex
meso - level due to creation of associations which participants
form a complete production and cost chain. Formation
of the vertically integrated business groups in
agrarian and industrial complex of Russia promotes consolidation
of the capital, considerable reduction of level
of transaction expenses, growth of controllability of the
relations of an interindustry exchange and distribution,
and respectively and to growth of competitiveness of
subjects of agrobusiness, the enterprises of the food industry.
One of the key problems of domestic agrarian
and industrial complex still remains the problem of nonequivalence
of an interindustry exchange connected with
serious structural disproportions with backwardness of
the institutional environment of subcomplexes, and also
with deficiency of instruments of state regulation of interindustry
transaction