Chair of Accounting and Audit, National Research Nuclear University MEPhI (Moscow Engineering Physics Institute), Moscow, Russia:

I. P. Komissarova, Head of a Chair, e-mail: IPKomissarova@mephi.ru

M. S. Krasheninnikova, Assistant Professor

On the example of leading non-ferrous metallurgy companies, this article considers the possibilities of increasing of their own and involved investment sources in accordance with the development Strategy of Russian metallurgical industry until 2020. Assessment in current accounting was carried out for increasing of organizations’ profit, together with presentation of their financial investments in financial statements. Analysis of accounting problems was carried out, and their solving ways are offered. The possibility of transition from the “initial cost” (according to Russian accounting regulations) to the “fair value” was proved, according to the recommendations of International Financial Reporting Standards. Many Russian companies started to use the International Financial Reporting Standards (IFRS). IFRS are the language of International accounting communication; their introduction allows Russian companies to speak the same language with their foreign shareholders, contractors and partners. Despite the fact that IFRS have many gaps and contradictions, they are the best established international practice nowadays. Transition to IFRS is very important for Russia, because almost all IFRS require the use of accountant's professional judgment (opinion of responsible person about the details of any business transaction). IFRS are not a set of clear rules, where all the possible situations, arising in financial and economic activity, are written. Considering the Russian market economy, it is necessary to bring the organizations’ accounting closer to the market, which requires the introduction of new accounting and reporting system.

1. Available at: http://www.consultant.ru/document/cons_doc_LAW_99566/ (in Russian).

2. Available at: http://www.consultant.ru/document/cons_doc_LAW_131605/ (in Russian). 

3. Available at: http://www.consultant.ru/document/cons_doc_LAW_151315/ (in Russian).

4. Available at: http://www.consultant.ru/document/cons_doc_LAW_174104/ (in Russian). 

5. Available at: http://www.consultant.ru/document/cons_doc_LAW_116528/ (in Russian). 

6. Available at: http://www.consultant.ru/document/cons_doc_LAW_158331/ (in Russian). 

7. Bakaev A. S. Tolkovyy bukhgalterskiy slovar (Explanatory account vocabulary). Second edition, revised and enlarged. Moscow : Publishing House “Bukhgalterskiy uchet”, 2011. 192 p. 

8. Komissarova I. P. Problemy otsenki aktivov i obyazatelstv v bukhgalterskom uchete: sostoyanie i perspektivy (Problems of assessment of assets and obligations in accounting: status and prospects). Vestnik Rossiyskogo gosudarstvennogo torgovo-ekonomicheskogo universiteta = Bulletin of Russian State Trade-Economic University. 2012. No. 5. pp. 53–59.

9. Kogdenko V. G., Krasheninnikova M. S. Analiz finansovykh aktivov po dannym konsolidirovannoy otchetnosti (Analysis of financial assets by the consolidated accounts data). Finansovyy analiz = Financial analysis. 2014. No. 24 (375). pp. 2–16.