IFRS introduction as a prerequisite for the adaptation of the Russian economy to the requirements of the international capital market

Unfortunately, the existing system of accounting and reporting in Russia is under strong fiscal pressure from the tax authorities; thus, it does not provide an adequate assessment of assets and liabilities, timely revision of estimated values, full use of backup methods. Therefore, its improvement and harmonization with international financial reporting standards that began in 1998, became a prerequisite for encouraging investment in the country and improving the quality of enterprise management. IFRS system is recognized worldwide as an effective tool for providing different user groups (managers, owners, investors) with useful and reliable information, allowing to give a correct assessment of the financial position, results of operations, cash flows of the company. In connection with the crisis in the global economy, the problem of improving the qualitative characteristics of financial statements has recently become even more relevant. After the implementation of the principles and approaches of IFRS, we have come to such statements which will allow the user to make reasonable predictions for the future, to give a reliable estimate of the commercial potential and to demonstrate the company's ability to adapt to changes in the environment. The article explains the necessity of rapprochement of the Russian accounting standards with the IFRS system, gives a brief history of the reformation of the Russian accounting standards, marks progress and identifies the problems and shortcomings of IFRS in Russia. Statistical analysis of Russian organizations' transition to IFRS the author carried out showed that from 2004 to 2012 the percentage of companies reporting under IFRS increased. International standards are used in larger companies with revenues of more than 15 billion rubles and staff of more than 300 employees. Still, if at the beginning the main companies applying IFRS standards in their financial statements were concentrated in the area of "finance and insurance, banking", now it is commercial mid-sized companies. The main causes and driving factors for making financial statements in accordance with IFRS, according to the analysis, are improving the quality of management information, increasing the number of investors and increasing the opportunities for borrowing. Factors such as entering the international market, simplicity of reporting and its transparency and speed and convenience has the least impact on decisions regarding transition to IFRS.

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