Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial Statements
The article considers the problem of the application of professional accounting judgment in the compilation of consolidated financial statements (CFS), which, according to the legislation of the Russian Federation, should be prepared in accordance with the international financial reporting standards...
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| Format: | Article |
| Language: | Russian |
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Government of Russian Federation, Financial University
2020-05-01
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| Series: | Учёт. Анализ. Аудит |
| Subjects: | |
| Online Access: | https://accounting.fa.ru/jour/article/view/310 |
| _version_ | 1826566837493563392 |
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| author | V. S. Levina |
| author_facet | V. S. Levina |
| author_sort | V. S. Levina |
| collection | DOAJ |
| description | The article considers the problem of the application of professional accounting judgment in the compilation of consolidated financial statements (CFS), which, according to the legislation of the Russian Federation, should be prepared in accordance with the international financial reporting standards (IFRS). The methodological basis of the study includes scientific developments of domestic and foreign scientists regarding the problems of the application of professional judgment in the framework of the compilation of consolidated financial statements (CFS). The research methodology involves studying the specifics of determining the existence of control as the basis for consolidation, examining the transformation of the concept of “control” in a historical context by analyzing the relevant and previously applied IFRSs, and examining the concept of the information value of consolidated financial reporting. An analysis of the complexity of determining the actual control of the investor over the object of investment has allowed us to draw a conclusion about the prospects of applying the concept of professional judgment in the Russian realities. The theoretical and practical significance of the study lies in the fact that the results of the study are intended for the effective application of the professional judgment of an accountant as a relatively new accounting and reporting tool in the process of generating consolidated reporting (CFS) by accounting professionals. |
| first_indexed | 2024-04-10T04:03:56Z |
| format | Article |
| id | doaj.art-8360d706185c4b6897925827beee41ad |
| institution | Directory Open Access Journal |
| issn | 2408-9303 2619-130X |
| language | Russian |
| last_indexed | 2025-03-14T10:58:00Z |
| publishDate | 2020-05-01 |
| publisher | Government of Russian Federation, Financial University |
| record_format | Article |
| series | Учёт. Анализ. Аудит |
| spelling | doaj.art-8360d706185c4b6897925827beee41ad2025-03-02T10:45:45ZrusGovernment of Russian Federation, Financial UniversityУчёт. Анализ. Аудит2408-93032619-130X2020-05-0172778410.26794/2408-9303-2020-7-2-77-84301Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial StatementsV. S. Levina0Financial UniversityThe article considers the problem of the application of professional accounting judgment in the compilation of consolidated financial statements (CFS), which, according to the legislation of the Russian Federation, should be prepared in accordance with the international financial reporting standards (IFRS). The methodological basis of the study includes scientific developments of domestic and foreign scientists regarding the problems of the application of professional judgment in the framework of the compilation of consolidated financial statements (CFS). The research methodology involves studying the specifics of determining the existence of control as the basis for consolidation, examining the transformation of the concept of “control” in a historical context by analyzing the relevant and previously applied IFRSs, and examining the concept of the information value of consolidated financial reporting. An analysis of the complexity of determining the actual control of the investor over the object of investment has allowed us to draw a conclusion about the prospects of applying the concept of professional judgment in the Russian realities. The theoretical and practical significance of the study lies in the fact that the results of the study are intended for the effective application of the professional judgment of an accountant as a relatively new accounting and reporting tool in the process of generating consolidated reporting (CFS) by accounting professionals.https://accounting.fa.ru/jour/article/view/310consolidated financial statements (reporting)professional judgmentgroup perimetercontrolifrs |
| spellingShingle | V. S. Levina Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial Statements Учёт. Анализ. Аудит consolidated financial statements (reporting) professional judgment group perimeter control ifrs |
| title | Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial Statements |
| title_full | Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial Statements |
| title_fullStr | Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial Statements |
| title_full_unstemmed | Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial Statements |
| title_short | Topical Issues of Professional Judgment Application in the Preparation of consolidated Financial Statements |
| title_sort | topical issues of professional judgment application in the preparation of consolidated financial statements |
| topic | consolidated financial statements (reporting) professional judgment group perimeter control ifrs |
| url | https://accounting.fa.ru/jour/article/view/310 |
| work_keys_str_mv | AT vslevina topicalissuesofprofessionaljudgmentapplicationinthepreparationofconsolidatedfinancialstatements |