FORMING AND DISCLOSURE OF INFORMATION ON RISKS RELATED TO FOREIGN BUSINESS
Palavras-chave:foreign activity, risk, IFRS, estimated obligations
ResumoCurrently it is difficult to overestimate importance of work of the enterprises of fuel and energy branch, in particular the oil-extracting companies, the majority of which foreign divisions have. Conducting foreign activity involves numerous external risks, many of which are capable to influence a financial position and financial results of the company negatively. Practice shows that most the enterprises very formally belong to disclosure of information on the risks interfaced to foreign activity. The PEST analysis which is carried out by us allowed revealing risks to which the PJSC Tatneft Company having representation in Libya is subject. In this article practical implementation of requirements of IFRS regarding disclosure in the reporting of information on risks by the PJSC Tatneft Company having division abroad is also considered. On the basis of the analyzed disclosure merits and demerits in the reporting of information on the risks interfaced to conducting foreign activity the uniform technique of disclosure of similar information was developed. In our opinion, the recommended format of disclosure of relevant information will simplify work of the accountant by drawing up financial statements, and to users of such reporting will allow to estimate consequences of foreign activity, to create idea of a financial position of the organization and will provide adoption of rational economic decisions
International Financial Reporting Standard (IAS) 1 "Submission of financial statements".
International Financial Reporting Standard (IFRS) 7 "Financial instruments: disclosure of information".
International Financial Reporting Standard (IAS) 21 "Influence of changes of exchange rates of currencies".
International Financial Reporting Standard (IAS) 37 "Estimated obligations, conditional obligations and conditional assets".
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