Comparison of US GAAP in the USA and IFRS in Russia
Zavgorodniaia, Daria (2019)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019060414731
https://urn.fi/URN:NBN:fi:amk-2019060414731
Tiivistelmä
The underlying idea of this bachelor thesis was to explore US Generally Accepted Accounting Principles in the United States of America and International Financial Reporting Standards in Russia, to discover their differences regarding these cases and to identify their pros and cons for a particular type of companies. The target type of organizations was publicly traded companies.
The purpose of the research was to analyze identified peculiarities, advantages and disadvantages of accounting standards framework in each case stated above and to discover which one of them was more beneficial for publicly traded companies and why.
The data for the thesis was collected through literature. Literature sources primarily included books and articles on topics of accounting, finance, economics and history of accounting standards. After data collection, it was scrutinized and analyzed by the author of this bachelor thesis.
The major results of the thesis was the finding that US GAAP in the USA was considered to be more beneficial than IFRS in Russia from the point of view of publicly traded companies. It was connected to accounting standards framework specific advantages as well as historical and economic reasons.
This finding is not meant to pronounce US GAAP superior over IFRS. This research emphasizes only one country that uses IFRS, thereby, results can be different for other countries. This finding is the most relevant now as of year 2019, since the author assumes the possibility of change in relevance due to possible advancement in IFRS application in Russian Federation in the future.
The purpose of the research was to analyze identified peculiarities, advantages and disadvantages of accounting standards framework in each case stated above and to discover which one of them was more beneficial for publicly traded companies and why.
The data for the thesis was collected through literature. Literature sources primarily included books and articles on topics of accounting, finance, economics and history of accounting standards. After data collection, it was scrutinized and analyzed by the author of this bachelor thesis.
The major results of the thesis was the finding that US GAAP in the USA was considered to be more beneficial than IFRS in Russia from the point of view of publicly traded companies. It was connected to accounting standards framework specific advantages as well as historical and economic reasons.
This finding is not meant to pronounce US GAAP superior over IFRS. This research emphasizes only one country that uses IFRS, thereby, results can be different for other countries. This finding is the most relevant now as of year 2019, since the author assumes the possibility of change in relevance due to possible advancement in IFRS application in Russian Federation in the future.