Forming and disclosure of information on risks related to foreign business
| Autor | Anastasiya O. Matveeva - Lidiya I. Kulikova |
| Cargo | Kazan Federal University, Institute of Management, Economics and Finance, e-mail: matveevaao@mail.ru, Tel. +79178845556. - Kazan Federal University, Institute of Management, Economics and Finance |
| Páginas | 65-75 |
Periódico do Núcleo de Estudos e Pesquisas sobre Gênero e Direito
Centro de Ciências Jurídicas - Universidade Federal da Paraíba
V. 8 - Nº 04 - Ano 2019 Special Edition
ISSN | 2179-7137 | http://periodicos.ufpb.br/ojs2/index.php/ged/index
65
FORMING AND DISCLOSURE OF INFORMATION ON RISKS
RELATED TO FOREIGN BUSINESS
Anastasiya O. Matveeva1
Lidiya I. Kulikova2
Abstract: Currently it is difficult to
overestimate importance of work of the
enterprises of fuel and energy branch, in
particular the oil-extracting companies,
the majority of which foreign divisions
have. Conducting foreign activity
involves numerous external risks, many
of which are capable to influence a
financial position and financial results of
the company negatively. Practice shows
that most the enterprises very formally
belong to disclosure of information on
the risks interfaced to foreign activity.
The PEST analysis which is carried out
by us allowed revealing risks to which
the PJSC Tatneft Company having
representation in Libya is subject. In this
article practical implementation of
requirements of IFRS regarding
disclosure in the reporting of information
on risks by the PJSC Tatneft Company
having division abroad is also
1Kazan Federal University, Institute of Management, Economics and Finance, e -mail:
matveevaao@mail.ru, Tel. +79178845556.
2 Kazan Federal University, Institute of Management, Economics and Finance
considered. On the basis of the analyzed
disclosure merits and demerits in the
reporting of information on the risks
interfaced to conducting foreign activity
the uniform technique of disclosure of
similar information was developed. In
our opinion, the recommended format of
disclosure of relevant information will
simplify work of the accountant by
drawing up financial statements, and to
users of such reporting will allow to
estimate consequences of foreign
activity, to create idea of a financial
position of the organization and will
provide adoption of rational economic
decisions.
Keywords: foreign activity, risk, IFRS,
estimated obligations.
Introduction
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