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Source: Journal Citation ReportsTM from ClarivateTM 2022

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2021-07-15  |  Accepted: 2021-09-23  |  Published: 2021-12-30

Title

International Financial Reporting Standards' (IFRS) application peculiarities: a case study


Abstract

This article raises the topical issue of the main aspects of International Financial Reporting Standards (IFRS) 5 "Non-current assets held for sale" and their more logical and structured explanation according to the standard for a more accessible understanding by all stakeholders of this standard, including students, since at the moment IFRS 5 little known and rather difficult to understand. The authors describe the processes of recognition and evaluation of non-current assets held for sale, using the financial statements of the largest Russian company as an example. A brief overview of the effectiveness of its activities is given, indicating the importance of the occupied market share and the representativeness of the results obtained. The write-off procedure for the asset held for sale is presented under this heading, taking into account the particulars of the depreciation process for the assets in question. The study showed that normally a sale of an asset must take place within one year, but this may not always be the case, which is reflected in this article. The conclusion presented results and recommendations which, on the one hand, improve the reliability of the company’s financial statement, on the other hand, facilitate the understanding of the accounting area for interested users.


Keywords

cultural approach, non-current assets, recognition, disposal, simplification


JEL classifications

E42 , E52 , G38


URI

http://jssidoi.org/jesi/article/913


DOI


Pages

255-267


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Hajiyev, Hafis Ahmed oglu
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
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Stolyarova, Marina
Kuban State Agrarian University, Krasnodar, Russian Federation https://www.kubsau.ru
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Kalacheva, Olga
Plekhanov Russian University of Economics, Moscow, Russian Federation http://www.rea.ru
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Malitskaya, Victoria
Plekhanov Russian University of Economics, Moscow, Russian Federation http://www.rea.ru
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Ivanova, Yana
Plekhanov Russian University of Economics, Moscow, Russian Federation http://www.rea.ru
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Malysheva, Lyudmila
Southwestern State University, Kursk, Russian Federation https://swsu.ru
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Journal title

Entrepreneurship and Sustainability Issues

Volume

9


Number

2


Issue date

December 2021


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 1514  |  PDF downloads: 902

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