International Accounting

Abstracting and Indexing

Referativny Zhurnal VINITI RAS
Google Scholar

Online available



Cyberleninka (12 month OA embargo)

Institutional analysis of regulatory and legislative frameworks for comparison of balance sheet items of investment property from the standpoint of IFRS and RAS

Vol. 21, Iss. 7, JULY 2018

Received: 30 January 2018

Received in revised form: 1 June 2018

Accepted: 19 June 2018

Available online: 16 July 2018


JEL Classification: B5, F65, G00, G30, O11

Pages: 808–821

Trofimova L.B. Plekhanov Russian University of Economics, Moscow, Russian Federation

Importance The article discusses the specifics of accounting for investment property under the Russian Accounting Standards (RAS) and compares it with IAS 40 – Investment Property, IAS 16 – Property, Plant and Equipment and IFRS 16 – Lease.
Objectives I outline the draft balance sheet with a new classification of investment property items.
Methods The research employs an institutional technique based on the analysis of the regulatory framework, which sets forth accounting and financial reporting requirements to fixed assets and income-bearing investment in tangible assets. I also compare investment property valuation methods in the RAS and IFRS.
Results I outlined the draft section Non-Current Assets of the balance sheet, which classifies investment property items. The items are reclassified through IAS 40 Investment Property.
Conclusions and Relevance I devised a new reclassification of fixed assets and income-bearing investment in tangible assets, thus pursuing the convergence of the Russian and international financial reporting standards. The classification will facilitate the financial reporting processes in terms of transformation since the proposed grouping of fixed assets in the Russian balance sheet is as close as possible to the format prescribed by IFRS. The findings may be used by accountants to prepare the statement of financial position for profit-making entities, transform the financial statement and deliver lectures on IFRS. The proposed reclassification will help optimize the transformation of the Russian financial statements into the IFRS format.

Keywords: institutional analysis, regulatory framework, investment property, income-generating investment, fixed assets


  1. Saucke M. Full IFRS and IFRS for SMEs Adoption by Private Firms: Empirical Evidence on Country Level. Peter Lang AG, 2015, 331 p. URL: Link
  2. Feleaga L., Feleaga N. Romania. Shifting to IFRS: The Case of Romania. In: IFRS in a Global World: International and Critical Perspectives on Accounting. Springer, 2016, pp. 393–404. URL: Link
  3. Ballas A.A., Skoutela D., Tzovas C.A. The Relevance of IFRS to an Emerging Market: Evidence from Greece Managerial Finance. Managerial Finance, 2010, vol. 36, iss. 11, pp. 931–948. URL: Link
  4. Vorob'ev S.V., Maksimenko V.A., Dmitriev I.V. [Comparative characteristics of IAS 16 Fixed Assets and PBU 6/01 Accounting of Fixed Assets]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2015, no. 1, pp. 434–437. (In Russ.)
  5. Zav’yalova T.V., Gudozhnikova E.V., Romanova I.V. [Comparative analysis of accounting objects in domestic and international practice]. Sovremennye problemy nauki i obrazovaniya, 2014, no. 6, pp. 451–458. (In Russ.) URL: Link
  6. Gaidarov K.A. [Outlining the accounting policy concerning fixed assets for IFRS purposes]. Korporativnaya finansovaya otechetnost'. Mezhdunarodnye standardty = Corporate Financial Reporting. International Standards, 2014, no. 4, pp. 42–53. (In Russ.)
  7. Alaverdova T.P. [New in asset accounting]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2016, no. 1-1, pp. 523–529. (In Russ.)
  8. Badamshina V.R. [Fixed assets as an economic category under the International Financial Reporting Standards]. Nalogi-Zhurnal = Taxes (Journal), 2014, no. 4, pp. 29–31. (In Russ.)
  9. Tkhamokova S.M., Mshogenova M.Kh. [Accounting for fixed assets in accordance with international standards]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2015, no. 10-1, pp. 810–819. (In Russ.)
  10. Druzhilovskaya E.S. [Complex issues of fixed assets measurement under IFRS]. Bukhgalterskii uchet = Accounting, 2017, no. 10, pp. 25–33. (In Russ.)
  11. Khusenova S.Kh. [Investment property: Requirements of the Russian principles and IFRS to financial reporting information]. Student. Aspirant. Issledovatel', 2016, no. 11, pp. 78–87. (In Russ.)
  12. Popov A.Yu. [Investment property: Russian and international concepts of valuation and accounting]. Finansovyi zhurnal = Financial Journal, 2015, no. 6, pp. 80–89. (In Russ.)
  13. Ol'gov A.E. Rossiiskie i mezhdunarodnye printsipy ucheta investitsionnogo imushchestva. V kn.: Nauka. Tekhnologii. Innovatsii [Russian and international principles of investment property accounting. In: Science. Technology. Innovation]. Novosibirsk, NSTU Publ., 2016, pp. 399–400.
  14. Safonova I.V. [Investment property in investment management system: problems of the information support]. Upravlencheskie nauki v sovremennom mire = Managerial Sciences in the Modern World, 2015, vol. 1, no. 1, pp. 380–384. (In Russ.)
  15. Yakovleva L.Ya. [Financial statements of operations with investment property]. Innovatsionnoe razvitie ekonomiki = Innovative Development of Economy, 2016, no. 5, pp. 202–206. (In Russ.)
  16. Grisman Yu.E. [International and Russian aspects of accounting for investment property]. Bukhgalterskii uchet i audit: proshloe, nastoyashchee i budushchee. V 2-kh chastyakh: materialy nauchnoi-konferentssii [Proc. Sci. Conf. Accounting and Auditing: The Past, the Present and the Future. Two Parts]. Novosibirsk, NSUEM Publ., 2016, pp. 115–118.
  17. Samitova A.R. Metodika bukhgalterskogo ucheta i otrazheniya v finansovoi otchetnosti informatsii ob investitsionnom imushchestve v RF i ee sovershenstvovanie v sootvetstvii s MSFO 40 Investitsionnoe imushchestvo. V kn.: Modernizatsiya natsional’noi ekonomiki: problemy i resheniya [Methods for accounting and recognition of investment property in financial statements in the Russian Federation, its improvement under IAS 40 – Investment Property. In: Modernization of national economy: Issues and Solutions]. Moscow, Professor Publ., 2014, pp. 414–436.
  18. Averchev I.V. MSFO. 1000 primerov primeneniya [IFRS. 1,000 examples of usage]. Moscow, Rid Grupp Publ., 2011, 992 p.
  19. Trofimova L.B. [Statement of financial position under IFRS]. Lizing. Tekhnologii biznesa = Leasing. Business Technologies, 2013, no. 6, pp. 49–54. (In Russ.)
  20. Trofimova L.B. Relevantnaya finansovaya otchetnost’ v usloviyakh razvitiya integratsionnykh protsessov: monografiya [Relevant financial statements during the development of integration processes: a monograph]. Moscow, INFRA-M Publ., 2015, 253 p. URL: Link

View all articles of issue


ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 22, Iss. 8
August 2019