The prospects for implementation of international financial reporting standards in the national accounting systems

Abstract

The article discusses the main tasks and directions of implementation of International financial reporting standards (IFRS); the issues of harmonization and convergence reporting; the relationship of IFRS and generally Accepted accounting principles (US GAAP). The article reveals the main directions of joint work of the IASB and financial accounting standards of the United States in the field of standards convergence, is a retrospective of events and activities on issues of convergence statements. Provides an overview of the main directions of the governmental program of reforming of the Russian accounting and reporting in accordance with International financial reporting standards, provides examples of the application of International financial reporting standards in individual countries. In order to further the implementation of activities in the field of translation of Russian accounting to International financial reporting standards proposals to improve individual Russian standards based on International financial reporting standards and develop new standards.