Modern view on accounting profession

Today at the international level there is an active evolution of accounting practices (new approaches to financial reporting, the transition to IFRS). But Russia, with strong centralized regulation of accounting, until recently, was not particularly involved in global processes. Since 2010, we re-energize the process of convergence to IFRS, some significant changes have been introduced and are expected. However, it is still early to speak about the near and complete transition to IFRS –a difference in practices, attitudes and perceptions is too big. Nevertheless, we can distinguish individual companies (they are usually among the leaders) who have already trained their employees in the international methods of work and have mastered the practice of reporting under IFRS.

The general trend is obvious. Accounting statements become more focused on investor (as it should be). To make her accountant must learn to understand the investor to apply the same methods of assessment and analysis, to think of economic categories. And exactly such accountants will be asked-for the responsible positions. Those who are able to make judgments and take responsibility for them, to combine all the economic information in the company to ensure its integrity and transparency for the external auditors. Accountant from the purely calculating specialist partly transforms into a communicator located in the center the information flows of the company. His level (at least, the chief accountant’s) should allow him to speak the same language with the directors and shareholders. And, of course, significant demands are made for ethics, since it concerns the investors’ money, big money.

But there are other directions of work of accountants – this is the tax administration and management accounting. Here, as elsewhere, qualification, knowledge of the subject and the high professional qualities are required in the first place. But the specifics are different. Talking about taxes, in Russia they are so complex that they must be dealt with by separate specialists with expertise not only in the tax code, but also in arbitration practice, are able to choose the best and lawful tax policies, can actively protect the interests of the company before the tax authorities.

Specialists in management accountants – are, first of all, good economists, who know all the business processes, can effectively represent all the available managerial information to directors for making operational decisions.

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