Methodology for forming financial statements for business combinations

Epifanov Ivan Nikolaevich

The ongoing changes in the modern world economy are determined by the basic prerequisite for the entry of Russian companies into the market of foreign countries, respectively, they require an up-to-date solution to the existing problem of adapting domestic reporting and accounting to international rules. Most often, the concepts of business associations are defined on the basis of legally fixed in Russian legislation ideas about the reorganization of a legal entity, the forms of which are mergers and acquisitions. It is worth noting that in fact, in the world and Russian practice, the concept of M&A covers a much wider range of possible options for conducting transactions than those directly specified in Russian legislation. Due to these features formed and continues to develop sustainable business practices of transactions of this kind, as well as legislative and regulatory framework covering, as proper legislation and accounting standards and accounting, allowing to quickly implement legalization and integration companies, however, requires improvements in the methods of accounting processes of the enterprises business and it improvement should be made to reflect the types of transactions, accompanying this association (which determines the scientific novelty of the article).

Keywords:reporting, financial reporting, international standard, business combination.