New Federal Accounting Standards

Staring from January 1, 2022, a number of new federal accounting standards (FAS) come into force: FAS 25/2018 "Lease accounting", FAS 6/2020 "Fixed assets" and FAS 26/2020 "Capital investments". These standards introduce significant changes to the accounting for relevant transactions.

At the initial stage, the introduction of new FAS will require significant time and labor resources. Before the new standards come into force, companies will have to collect a significant amount of information, decide on the procedure for the transition to the new FAS, decide on the accounting estimates and perform calculations. Many companies will need to engage appraisers.

FinExpertiza is ready to assist companies in making transition to new standards, including in understanding the entirely new provisions of the standards, in determining the procedure for the transition to a new standard and (or) in conducting the necessary evaluations.

If your company needs to bring its financial statements in line with the new FAS, please contact FinExpertiza experts.