Undoubtedly, the adoption of the new Russian accounting standards, dedicated
disclosure of cash businesses, allowing, at last, the main problem
national reporting - its lack of effectiveness for
owners and potential business owners and other interested persons
.
PBU 23/2011 "Statement of Cash Flows" on February 2, 2011.Number 11n largely
plays a similar standard norms of the international financial reporting
IFRS (IAS) 7, "Statement of Cash Flows
."Prior to the introduction of additional standard Russian
accountants report generation based on the "Guidelines on compilation
and presentation of financial statements" of 22 July 2003 N 67n.
But the rules of reporting often do not give clear answers to questions
accounting.At different companies often use different treatment
Instructions N 67n.As a result of established practice, when the formation of the report
cash flow turned into a formal procedure.
Now, when companies come to a more open
dialogue with investors, it was necessary to prove the success of the activity
not just in terms of the balance sheet profit, but real cash flows and
results.As a reflection of the new objectives and PBU 23/2011 was adopted on the basis of accounting experience
developers IFRS (IAS) 7.
What new has brought PBU23 / 2011 Russian
accountant.
First of all, there was clarity in the classification of transactions by type of activity
: current, investment, financial.And both the originator and the
consumer reporting through concrete examples has become easier and more logical
understand what operation to which type belongs.
interesting the following example.
Company issued to an individual unaffiliated cash
form of a loan.
I want to make a mistake and take the operation to finance.However,
look Art.PBU23 11/2011, and we see that this
operation does not lead to a change in capital or borrowed funds, therefore,
to finance does not apply.
this operation is considered pp.e Article 10 in the section on
investment.In fact, the company is engaged in investing
, ie seek to earn an income that is not associated with the current
activities in the long term
.
clearly and logically.
In addition, the legislator has secured the right to recalculate the cash
currency ruble equivalent, not only on the date of the transaction, but also
average exchange rate (p. 18 PBU23 / 2011) that
greatly simplifies the procedure of reporting without compromisingessentially it
informative.In this respect, a more conservative approach of IFRS (IAS) 7, according to which the only possible method
conversion - on the date of the cash flow.
Perhaps the Russian edition of the standard too
simplifies the reporting process to the detriment of users.Thus, the statement of cash flows
should be provided as part of the annual and interim financial statements
.Small businesses are exempt from compulsory
reporting of cash flows.
Create reports often available in both standard
right, but not the obligation, if such a decision was taken at the enterprise on their own
(n. 2 PBU23 / 2011).
particularly interesting and valuable approach of the legislator, when he accordance with international norms
accounting, accountant freedom to provide estimates
judgments and subjective decision-making.
example.
according to claim 5 PBU23 / 2011 in the statement of cash
provides data not only cash but also cash equivalents
, that is "highly liquid investments that can be readily
converted to known amounts of cash and
are subject to an insignificant risk of changes in value. "
Thus, the accountant should own:
-
evaluate the liquidity generated
financial investments; -
determine the amount you can help out in the shortest possible time
-
calculate the riskiness of transactions with financial
attachments.
All this requires a fundamentally new approach to the training of employees
accounting department.In this case, not only the primary documents, but
own 'calculations, "clothed in the form of financial help will
basis for inclusion of indicators in the reports.
seems radically new approach to reporting on the movement of funds
when the owner can obtain predictive information about future revenues
any payments on the basis of the available data
reporting period.
So, claim 24 PBU23 / 2011obyazyvaet disclose:
-
amount of unused credit lines,
uncollected debts; -
amount of overdraft facilities; -
unused for the loan amount
guarantees.
Just reporting on availability of funds will then
informative when, according to claim 25 PBU23 / 2011
will reflect the "frozen" money, that is available for use at the reporting date
.For example, the disposal of assets in foreign affiliates may be restricted by law
another state.
According to the author, causing difficulties pursuant to the requirements of claim 25 pp.b PBU23 / 2011.
cash flows related to the maintenance of the organization
at current production volumes, it is necessary to reflect separately from
cash flows associated with the expansion of this activity.
Currently, a similar method of differentiation of cash flows have not
approved.The technique is not supposed simple, and can be formed
accounts departments of various companies in entirely different ways.This will reduce the comparability of the reporting
various businesses.
essential difference PBU23 / 2011 and IFRS (IAS) 7 is a methodological approach to the calculation of indices
section characterizing flows from operating activities.
IFRS (IAS) 7 permits the use indirect method, with
which profit or loss is adjusted for the effects of transactions
non-cash nature, any deferrals or accruals of past or future
cash receipts or payments arising in the course of operations,
and otherconditions.This method is not sufficiently clear and accessible reflects the relationship between monetary
, reliable operations and cash balances of the enterprise.
direct method, though encouraged to use IFRS
(IAS) 7 , but not the only one possible.
In PBU23 / 2011 does not provide a completely logical use of
indirect method to reflect operations on movement of funds in all kinds of activities
.When using national accounting standards
transfers the data from the accounting registers of cash and cash equivalents
directly in line statements.
Given national feature to search for "loopholes" in the financial
mention poor drafting legislation to claim 17 PBU23 / 2011.
It contains a list of transactions with large sums of money, which can reflect
minimized, that is, without a breakdown of payments and receipts.
For pp.v claim 17 prescribes a simplified (folded) order to reflect "
implementation of short-term (usually up to three months) investments by
borrowings."
example.
company received from an individual borrowings in the amount of 10 million.
rubles.
funds were invested in full in shares of another company.
After three months the shares have been sold, with revenue of 0.1%, which is 10 thousand rubles
natural person were returned the same 10 mln. Rubles.
Folded mechanism of transactions is to measure only one
amount - receipt of 10 thousand. Rub.
However, from the data owner is not able to know that
company conducted a major operation.And even more will not be able to evaluate the effectiveness of
deal.Did the leadership in the interest of the owner.
Maybe the market price of the shares is actually 3 months increased more
than 0.1%.Reporting partially loses descriptiveness
the undeniable advantage of the new FDR is the solution to the problem of reflection
folded manner following indicators:
-
amount of value added tax,
paid or received as part payment of contractors; -
payments under the commission and agency contracts
when an entity is acting on behalf of another person; -
payments reimbursable
utilities and transport services.
In conclusion, we note that between the same PBU23 / 2011 and IFRS (IAS) 7, there are more similarities than differences.And it
also a positive thing for the users of financial statements.Now
statements have been prepared by Russian companies, will be available for understanding
foreign partners and investors.Russian accountants will be easier to navigate
when reporting cash flows, thanks
clearly and correctly presenting the standard, the presentation of the examples.
Thus, we see real fruits
rapprochement of Russian and international accounting standards, which must be expressed in
national companies more attractive for foreign
inversor.
