Modern approaches to accounting for receivables and payables in accordance with Russian legislation and IFRS

This article describes the procedure and rules for accounting for receivables and payables under Russian legislation and IFRS. The reasons for the formation of accounts receivable and accounts payable at enterprises are considered. Accounts that reflect accounts receivable and accounts payable are described . Describes the IFRS standards used in accounting for accounts receivable and accounts payable. The article considers the draft federal accounting standard» accounts Receivable and payable».