Economic Annals-ХХI: Volume 188, Issue 3-4, Pages: 188-194
Zinisha, O., Kharchenko, E., Avdeev, Yu., Pavlova, N., & Maltsev, Ia. (2021). Features of application of International Financial Reporting Standards (IFRS) by international companies. Economic Annals-XXI, 188(3-4), 188-194. doi: https://doi.org/10.21003/ea.V188-22
Department of Monetary Circulation and Credit,
Kuban State Agrarian University named after I. T. Trubilin
13 Kalinin Str., Krasnodar, 350044, Russian Federation
ORCID ID: https://orcid.org/0000-0003-0159-9601
I. Ivanov Kursk State Agricultural Academy
70 Karl Marx Str., Kursk, 305021,
ORCID ID: https://orcid.org/0000-0002-0743-4798
Department of Urban Cadastre and Geodesy,
Vologda State University
15 Lenin Str., office 108, Vologda, 160000, Russian Federation
ORCID ID: https://orcid.org/0000-0002-0806-6245
Department of Theory and Methodology of Primary and Preschool Education,
Naberezhnye Chelny State Pedagogical University
28 Nizametdinov Str., ZYAB settlement, Naberezhnye Chelny, 423806, Tatarstan, Russian Federation
ORCID ID: https://orcid.org/0000-0002-2935-801X
Features of application of International Financial Reporting Standards (IFRS) by international companies
Abstract. The present paper touches upon features of application of International Financial Reporting Standards by international companies. Financial analysis as a methodology is considered from different points of view. In terms of theory, it is science, however in terms of practice, it is a set of measures to generate useful information in management based on financial reporting indicators. The development strategy is oriented towards the future. At the same time it is based on the experience of previous activities and obtained results and takes into account positive and negative factors. Strategies are usually developed in several ways, yet only the most optimal is implemented. The optimality itself depends on the conditions in which an enterprise operates, as well as on the conditions that are expected to be, and on the potential of the enterprise (resources and personnel). The study of the theory of financial analysis shows the ambiguity of the approaches which authors come to while studying the concept of financial analysis.
Keywords: International Financial Reporting Standards; Informative Reporting; Financial Analysis; Development Strategy
JEL Classifications: F30; F36
Acknowledgements and Funding: The authors received no direct funding for this research.
Contribution: The authors contributed equally to this work.
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Received in revised form 4.04.2021
Available online 10.05.2021