EVALUATION OF FINANCIAL INSTRUMENTS: PROBLEMS AND SOLUTIONS

Task. The article presents an analysis of modern problems of valuation in reporting of financial assets and liabilities based on the fair value concept presented in IFRS 13. The development trends of valuation methods and requirements for financial assets and liabilities accounting in national and international financial reporting standards are investigated. The application of the International Financial Reporting Standard (IFRS) 9 (mandatory introduction from January 1, 2018), which requires the use of a new classification of financial instruments and a model for recognizing expected credit losses, is analyzed. The authors provide an analysis of the practice of applying the new rules in the reporting of Vnesheconombank Corporation and the group of companies in the oil and gas sector is examined and their influence on the financial performance of companies is revealed. The scientific analysis conducted by the authors is carried out taking into account the current state of development of accounting principles and rules in the system of Russian and international standards. Model. The authors pay attention to the methodological aspect of the justification of appropriate methods for assessing financial instruments based on the available information base, taking into account possible models for constructing forecast indicators. Summary. Based on the results of the study, the main directions of activity in the field of solving problems arising in the process of evaluating financial instruments and the requirements for the formation and disclosure of appropriate methods for determining an estimate at fair value are formulated. Practical importanc. The purpose of the study is to disclose the mechanism for creating an information base to justify appropriate methods for assessing financial instruments, including a reserve for expected credit losses. Originality. As a result of the analysis of the theory and practice of assessing financial instruments in Russian and international practice, methodological approaches to the formation and disclosure of information related to the assessment of financial assets in terms of using the “expected credit loss” model were substantiated.

international financial reporting standards, financial instruments, financial investments, fair value, amortized cost, impairment