STANDARDIZATION AND UNIFICATION OF ACCOUNTING AND BANKS FINANCIAL REPORTING

Abstract

Globalization of international economy causes the necessity of unification of financial reporting to increase investment attraction of the companies located in the Russian Federation. In this connection International Financial Reporting Standards (IFRS) on which principles legislative basis of accounting functioning and financial reporting in the Russian Federation is formed, is considered in the given work. Reasons, problems and prospects of IFRS development in Russia are studied.