By Robert W. McGee
A lot has been written concerning the financial and political difficulties of nations which are within the strategy of altering from centrally deliberate structures to marketplace platforms. so much stories have concerned about the industrial, criminal, political, and sociological difficulties those economies have needed to face in the course of the transition interval. although, now not a lot has been written concerning the dramatic adjustments that experience to be made to the accounting and fiscal approach of a transition economic climate. Accounting and monetary approach Reform in a Transition financial system: A Case examine of Russia was once written to aid fill that hole.
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Additional resources for Accounting and Financial System Reform in a Transition Economy: A Case Study of Russia
So the process of adopting and implementing international standards is more of a bottom-up system than a top-down system. The market is causing the changes to be made where they need to be made and it is doing it faster and better than what could be accomplished by mere government decrees. Another interesting facet of Russian accounting that the interviews revealed was how Russian accounting firms and enterprises are dealing with the new disclosure requirements. IFRS and GAAP both require much more disclosure than what Russians are accustomed to providing.
But also, and perhaps more importantly, the bureaucrats, because they may not have a firm grasp of the rules, may pressure firms to do things that are in violation of the rules. Thus, their attempts at coercion would be counterproductive. Not only would they be using coercion, but also they would be using it in a way that defeats the purpose of the coercion in the first place. CONCLUDING COMMENTS Russian auditors face a number of problems. There is a time lag between the time a new ISA is passed and the time it is translated into Russian.
2001. We View Russia’s Future with Optimism. ru/]. Hayek, Friedrich A. ) 1935. , reprinted by Augustus M. Kelley Publishers, Clifton, NJ, 1975. B. 1981. Economic Calculation in the Socialist Society. Indianapolis: Liberty Press. Horwitz, Bertrand. 1970. Accounting Controls and the Soviet Economic Reforms. California Management Review 13(1), 75-83. Horwitz, Bertrand. 1963. Depreciation and Cost Stability in Soviet Accounting. Accounting Review 38(4), 819-826. ru/] various issues. Ichizli, Svetlana M.
Accounting and Financial System Reform in a Transition Economy: A Case Study of Russia by Robert W. McGee