The Specificity of the Problems of Assessing the Financial Condition of Russian Companies

The article reflects the actual and specific Russian problems of assessing the financial condition of companies. The methodology for assessing the financial condition in the Russian textbooks is strongly fragmented, requires updating and has a little connection with the practice and the real economi...

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Bibliographic Details
Published in:Procedia economics and finance 2015, Vol.27, p.230-234
Main Authors: Grechenyuk, Anton, Grechenyuk, Olga, Polozhentseva, Yulia
Format: Article
Language:English
Subjects:
disclosure
financial condition
financial statements
Russian joint stock companies
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Summary:The article reflects the actual and specific Russian problems of assessing the financial condition of companies. The methodology for assessing the financial condition in the Russian textbooks is strongly fragmented, requires updating and has a little connection with the practice and the real economic situation. The financial statements are disclosed only by a third of Russian companies, and also have negative aspects in the presentation and complexity of the analysis. In the business community there is a significant reduction in the role of financial statements, as a source of information for assessing the financial and economic activities.
ISSN:2212-5671
2212-5671
DOI:10.1016/S2212-5671(15)00995-8