Features of application of International Financial Reporting Standards (IFRS) by international companies

Economic Annals-ХХI: Volume 188, Issue 3-4, Pages: 188-194

Citation information:
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

Olga Zinisha
PhD (Economics),
Associate Professor,
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

Ekaterina Kharchenko
D.Sc. (Economics),
Professor, Rector,
I. Ivanov Kursk State Agricultural Academy
70 Karl Marx Str., Kursk, 305021,
Russian Federation
ORCID ID: https://orcid.org/0000-0002-0743-4798

Yuri Avdeev
PhD (Agriculture),
Associate Professor, 
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

Nailya Pavlova
PhD (Pedagogy),
Associate Professor,
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

Iaroslav Maltsev
MA (Economics),
Saint Petersburg State University
7/9 Universitetskaya Emb., St. Petersburg, 199034, Russian Federation
ORCID ID: https://orcid.org/0000-0002-1725-2859

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.

DOI: https://doi.org/10.21003/ea.V188-22


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Received 1.03.2021
Received in revised form 4.04.2021
Accepted 10.04.2021
Available online 10.05.2021