Problems of transition of Russian accounting reports on International standards of accounting and reporting

The key task of the reform process is the formation of a regulatory and legal system for regulating accounting and reporting that meets all the requirements of users of financial information in a market-type economy. Currently, the study of legislation has become mandatory for all those engaged in entrepreneurial activities. In modern conditions, it is precisely from the correctness of the formation of financial accounting statements that the functioning and well-being of the organization largely depends. That is why it is necessary to study the application of this or that normative act in order to avoid unfavorable for the enterprise financial situation and penalties for incorrect accounting and reporting.