On the problems of comparing the interpretations of the concepts of «assets» and «liabilities» in RAS and IFRS

The article examines the problems of the discrepancy between the interpretations of the basic accounting concepts of «assets» and «liabilities» in international financial reporting standards and Russian accounting standards. The article analyzes the Russian regulatory framework of accounting, including the PBU, the FSB and the Concept of Accounting in the Russian market economy, as well as the Civil Code of the Russian Federation. As a result of the study, it is concluded that both the complexity of the definition and the terminological differences in the definitions of «assets» and «liabilities» in RAS and IFRS. It is proposed to draw attention to the need for more accurate and consistent use of terms in accounting statements in order to prevent misleading investors and ensure the correct presentation of financial information.