Review of the general and the particular in the ias/ifrs and ras requirements concerning the reporting of accounts payable

Abstract

he revision of previously acting approaches to the disclosure of accounts payable in accounting statements of business entities is required concurrently with the process of reforming of the national system of accounting standards. At the same time under the Russian accounting practice the transition to the international standards without considering the national traditions, accumulated experience and research results of the national scientists is simply impossible in our opinion. For that matter one of the acute problems is to carry out a comparative analysis of the basics of accounting and assessment of accounts payable as they are set forth in the international and national accounting standards.