Practical Issues of IFRS Application in the Russian Federation

30 november 2016

Managing Partner of Audit Firm UHY BusinessCollegia LLC Denis Kastsian took part in the 3d training conference “IFRS and management accounting. Year-end closing, new standards, preparation for the year 2017” held on the 17th-18th of November 2016 in Moscow City.

The main event of the year gathered together financial directors and managers of the key operating business units to handle practical tasks in the field of management accounting and IFRS.

During the conference the following issues were discussed:

· Audit report under new standards and increasing transparency in companies.

· Financial management and internal control system: how to introduce and use.

· Big data in finance. Data analysis system development. Automation.

· Corporate universities. Financiers’ qualification. How to save on employee training.

· IFRS 9: complicated issues in impairment of financial assets.

· foreign currency micro-hedging (practical aspects)

· IFRS 15 revenue from contracts with customers

· IFRS 16 Lease

· Other recent changes in IFRS.

· Disclosure of information in the financial statements according to IFRS: global project on quality improvement.