Authors : Maria V. Stafievskaya, Tatyana V. Sarycheva, Lidia V. Nikolayeva, Rose A. Vanyukova, Ramziya K. Shakirova, Lubov I. Ryzhova, Svetlana M. Arutyunyan and Ksenia V. Norkina
Abstract: Current legislation provides economic entities autonomy in the choice of accounting methods, defining the structure and content of financial statements. Existing differences between the accounting principles and international financial reporting standards and the Russian accounting regulations contribute to the emergence of uncertainty in the application of existing accounting standards. The uncertainty in turn, causes a variety of accounting risks that adversely affect the quality of financial statements and to a large extent affect the financial condition of the insurer. One of the biggest reasons for this is the complexity of the study of economic nature, forward and backward linkages of accounting risks and the consequent apparent underestimation of the phenomenon. The subjects of the research of the researcher were the theoretical and methodological issues of risk research as accounting objects. Purpose-to propose methodology for the accounting and reporting of potential losses associated with the effects of accounting risks. The study substantiates the necessity of the creation of provisions for the elimination of the consequences of accounting risks.
Maria V. Stafievskaya, Tatyana V. Sarycheva, Lidia V. Nikolayeva, Rose A. Vanyukova, Ramziya K. Shakirova, Lubov I. Ryzhova, Svetlana M. Arutyunyan and Ksenia V. Norkina, 2016. Provision for Accounting Risks. The Social Sciences, 11: 1776-1779.