Chart of accounts for IFRS.

The chart of accounts is a system of accounting accounts (each of which takes into account cash flow), which carries out an informative role on the status and direction of financial flows in the organization.

Depending on the tasks facing the enterprise, this or that chart of accounts is chosen . The most successful is considered a solution, which makes it possible to obtain from the data contained in the reporting the maximum amount of useful information. The chart of accounts of accounting depends on the industry specifics (insurance organization, financial institution, non-government pension fund, small business) and depending on the priority subsystem (managerial, tax and international accounting types). There are also other levels of classification of possible chart of accounts. Today we will talk about a phenomenon that is still rare for our country under the name of IFRS. The so-called international financial reporting systems were officially recognized in Russia in accordance with the government's decree at the end of February 2011 under number 107. Obviously, the adoption of this resolution is connected with the entry into the WTO, which helps erode economic boundaries. This type of accounting will be useful to the auditor or investor, who decided to analyze information about a foreign organization with the purpose of buying securities. In the West, the use of the IFRS system for public companies is considered standard. However, the US still widely uses the local standard - US GAAP. But already in 2010 many large corporations operating on a transnational scale provided reporting in a new format. There are IFRSs under the labeling of IFRS (from 1 to 8), IAS (which there are 41 variations), as well as IFRIC (discloses the application of previous standards). Each of them is an instruction for the implementation of financial department reporting.

In the "pure form", a certain chart of accounts for international accounting standards does not exist, since the set of standards itself is focused solely on reporting for the convenience of investors, and following simple principles. However, on many resources for the convenience of accountants published a working chart of accounts, accounting, adapted under IFRS.

Prepared by numerous international financial reporting standards , an improved chart of accounts, most often repeats two main reports. This is a statement of comprehensive income, as well as a statement of financial position. This structure allows you to obtain the main financial parameters in the so-called financial statement. This approach makes it possible to reflect in accounting all items of the statement of financial position, as well as on the aggregate profit. Thus, an investor who has even a superficial knowledge of financial management can determine the impact of operations conducted by the organization on reporting, as well as further development trends.

It should be noted that IFRS is not a collection of strict rules that regulate the chart of accounts, but rather a flexible reporting system based on only two principles.

1. The so-called accrual method, which means the reflection of operations during their commission. At the same time, it is not allowed to make entries after receipt or payment. This means that all transactions are accounted for exactly when they occurred (during this period). Following this method makes it possible for the auditor, investor or manager to obtain information about all cash receipts and liabilities, and in the long run, which allows to predict the result of the activity for a certain period. If some of the cash is not received, then a correction is made using the provision for unreliable debt.

2. Principle of business continuity . Assumption that the company will continue operations in the near term. And for the reason that the management, shareholders or the appropriate commission did not recognize the company as a bankrupt, the assets of the company reporting on IFRS standards will not take into account the costs of liquidation. Otherwise, the company's reporting must necessarily be drawn up on a different basis, which should be disclosed.