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Institutional Analysis of the Regulatory and Legal Framework for Financial Reporting Control in Russia

Author

Listed:
  • E.M. Akhmetshin
  • N.A. Prodanova
  • L.B. Trofimova
  • P.S. Probin
  • O.G. Grigorieva
  • V.V. Smirnova

Abstract

The study contains the main approaches to the determination of various institutions affecting Russian accounting from the standpoint of their formal and informal types. In modern conditions, the economic actions of a subject must be matched to external factors that determine the correctness of economic decision-making, as well as consistency and the development of correct patterns and behavior algorithms that are most effective for each specific situation. Through the institutional analysis, the authors have identified several inconsistencies in the regulatory framework of related institutions and suggested ways to eliminate these disparities. Inter-institutional discrepancies have been found between law and accounting institutions, indicating non-compliance in the accounting practice of the substance over form principle, between recognition in the bookkeeping and tax accounting of the transfer of assets and liabilities ownership, as well as differences in the recording of investment real estate in the financial statements according to IFRS institutions and Russian national standards.

Suggested Citation

  • E.M. Akhmetshin & N.A. Prodanova & L.B. Trofimova & P.S. Probin & O.G. Grigorieva & V.V. Smirnova, 2018. "Institutional Analysis of the Regulatory and Legal Framework for Financial Reporting Control in Russia," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 130-141.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:special3:p:130-141
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    References listed on IDEAS

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    11. Peter J. Baldacchino & Chantelle Camilleri & Simon Grima & Frank H. Bezzina, 2017. "Assessing Incentive and Monitoring Schemes in the Corporate Governance of Maltese Co-operatives," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 177-195.
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    More about this item

    Keywords

    Institutional analysis; accounting; financial statements; IFRS; right of property; investment property.;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

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