Abstract
In recent years, when selling real estate objects, Russian organizations use the account “goods shipped” recommended by the national regulator for use in this case, the balance of which in the balance sheet relates to current assets. In connection with the amendments to the Tax code of the Russian Federation, the use of this account is doubtful, as it is necessary to apply the requirement of priority of the economic nature of transactions over their legal form. In practice, most Russian companies are serious about compliance with the requirements of the regulator, as a result of which, actually sold real estate is reflected in the same section of the balance sheet, which reflects the fixed assets only intended for sale. The authors studied the annual financial statements of many major Russian companies, including the provisions of their accounting policies, and the order of reflection in the financial statements of real estate, state registration of a new owner, which occurred in the next reporting period. The study showed that most organizations do not disclose their accounting policies on this issue, which indicates that they follow the recommendations of the regulator, in the minority there are organizations that make the appropriate disclosure of accounting policies, but the position of accounting policies coincides with the opinion of the regulator. In the article the authors suggest ways to solve the situation.
Highlights
When we started teaching case studies in Kazan State University, the teaching materials for more advanced students were still biased towards theoretical aspects of business and law
Students at the university have become more and more aware of the importance of English to their professional careers. They have come themselves to feel the necessity of developing their professional skills, and so have their teachers, who realise that the design of any curriculum has to be student-centred
Though the pattern of a ready made case study may be followed, it is tailor made for the class
Summary
When we started teaching case studies in Kazan State University, the teaching materials for more advanced students were still biased towards theoretical aspects of business and law. Students at the university have become more and more aware of the importance of English to their professional careers They have come themselves to feel the necessity of developing their professional skills, and so have their teachers, who realise that the design of any curriculum has to be student-centred. It has to be determined primarily by the long-term needs of the students. Students graduating from the university have to be ready to go on to the stage in their lives, join the work force and function effectively in English Since they are going to be lawyers, managers, business people, executives and so on, they will need to use English effectively in their business transactions. They must absorb information quickly, read selectively, and make decisions under pressure
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