FORMATION AND DEVELOPMENT OF THE CONVERGENCE PROCESS OF TWO TYPES OF STANDARDS: IFRS AND US GAAP

Abstract. This article discusses the relevance of the transition of enterprises to international financial reporting standards in modern conditions. The regulatory framework required for the transition to the international financial reporting system (IFRS) is provided. Attention is also paid to the most significant differences in Russian accounting standards (RAS) and international standards. The authors also consider accounting models for enterprises in accordance with IFRS and the stages of bringing financial statements to international standards. In addition, the article considers groups of enterprises that are required to maintain financial accounting in accordance with international standards.