Understanding Russian Accounting Principles
In this new issue of Russia Briefing, we compare Russian accounting standards with U.S. generally accepted accounting principles. We first look at some of the main differences between Russian accounting and U.S. GAAP including the difference in documentation, timing, the chart of accounts, division of cost types, provisions and accruals, expense and revenue recognition, and multiple element sales. We also examine how revenue is handled, how to structure a transformation from Russian accounting principles to U.S. GAAP, and the industry and business specific differences between Russian and U.S. accounting.
The final article in this issue reports on the growing trade opportunities that exist between China and Central Asia, focusing on the
newly formed special economic zone in the Xinjiang border town of Yili.
In this issue
- Russian and U.S. accounting standards compared
- Industry specific differences between Russian and U.S. accounting standards
- Russian Chart of Accounts (in Russian and English)
- Structuring a transformation from Russian accounting to U.S. GAAP
- Trade opportunities in Central Asia: Kazakhstan and China