Agricultural and Biological Sciences
3 years ago

Russian Accounting to Adopt Fair Value Standard for Asset Valuation.

Statistika učet i audit
DEFINITION OF FAIR VALUE AND PROSPECTS OF ITS APPLICATION FOR ASSETS AND LIABILITY VALUATION IN RUSSIAN ACCOUNTING PRACTICE
Т. М. Мезенцева, A.M. Dauzova, B.U. Kerimbekova, A.A. Mezentsev

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The article talks about how to figure out the value of a company's stuff using a method called fair value. It looks at how this method can be used in Russian accounting. The author says that both the government and companies need to do some things to make sure fair value is used in Russian accounting. Sometimes, you can see how much things are worth by looking at the market. Other times, you can't. But the goal is always the same: to find out how much you could sell something for or how much you'd have to pay to get rid of a debt in today's market.