Russia’s Accounting Revolution

In this issue of Russia Briefing, we look at Russia’s accounting “revolution.” The new Law on Accounting that passed the parliament in December 2011 and comes into force January 2013 is nothing short of revolutionary. Combined with the dramatic changes in accounting already underway in Russia, including the introduction of obligatory provision calculations in 2011 and automatic document exchange in 2012, the new law can be considered a breakthrough for further improvement in accounting in Russia

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Russian accounting principles

In this new issue of Russia Briefing, we compare Russian accounting standards with U.S. generally accepted accounting principles. We first look at some of the main differences between Russian accounting and U.S. GAAP including the difference in documentation, timing, the chart of accounts, division of cost types, provisions and accruals, expense and revenue recognition, and multiple element sales. We also examine how revenue is handled, how to structure a transformation from Russian accounting principles to U.S. GAAP, and the industry and business specific differences between Russian and U.S. accounting.

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Establishing Business in Russia

Russia Briefing is a magazine and daily news service about doing business in Russia. We cover topics relating to the Russian economy, the market in Russia, foreign direct investment and Russian law and tax.

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Payroll and Employment Law

This issue starts out with an outlook for the year 2012 and then moves into its core topic; payroll processing. Payroll processing in Russia is significantly more rules-based than in Western countries and newcomers to the country are generally surprised by the bureaucracy created by what appears to be overly demanding requirements.

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The Russia, Belarus, Kazakhstan Customs Union

This issue of Russia Briefing will assess the implications the Customs Union has on trade, looking broadly at the principles and progress of the union thus far, and clarifying key modifications to the VAT procedures for transactions involving the three member states.

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Russian Market Entry

The Western media has perpetrated the image of Russia as a lawless country and much has been written about the difficulties of doing business there. In fact, the business opportunities in Russia are a well-kept secret, a fact to the advantage of incoming investors, who can thereby leave their overseas competitors behind. In this issue of Russia Briefing, we discuss why you should consider investment in Russia and how to make the first major decision in this process: what form of entry establishment to use.

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Finding and Keeping Qualified Staff in Russia

Dr. Michael Spaeth, Director for Business Development, RUSSIA CONSULTING

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US and EU Sanctions: What you should know

Recently, we at RUSSIA CONSULTING have been repeatedly asked by our clients, what the consequences of the US and EU sanctions, introduced due to the conflict situation in Crimea, would mean for their business with Russian counterparts. RUSSIA CONSULTING gladly offers this overview on the sanctions and their possible consequences.

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B2B Electronic Document Interchange in Russia

This issue of Russia Briefing describes international experience pertaining to electronic document interchange. In general, it provides an overview of the legal framework pertaining to EDI in Russia, illustrates the reasons to convert to EDI, explores some technical aspects of EDI implementation, discusses some of the best practices in EDI implementation and finally touches upon issues of electronic document exchange security.

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Customs Union Import Certification

Within this issue of RUSSIA BRIEFING, we will have a closer look at import and export procedures into, out of, and within the Customs Union. Several steps have been taken to simplify the procedures. Among them, there are electronic declarations and standardized certifications. The certifications shall have validity not only for one, but for all Customs Union countries and are gradually replacing the old certifications which have been valid for only one country and had to be done for each of the three member countries individually.

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Are you targeting the right candidate

While economic growth brings promises of great prosperity, it also causes a lot of new challenges, some of which the country may not be fully prepared to address: one of Russia's biggest problems is a shortage of qualified labour. As one of the keys to economic growth, besides natural resources, is indeed qualified labour. This is a precious resource whose inadquate supply could pose significant risks to the country's growth.

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US and EU Sanctions

New US and EU Sanctions. How to Stay on the Safe Side

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Product certification according to TR CU – key date

On March 15, 2015 the transition period for several Technical regulations of the Customs Union comes to an end

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Market Entry Fast Track

Effective market entry without the hassle of registration

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SCHNEIDER GROUP August 2016 Newsletter

Digital products and online services
Foreign suppliers have to pay VAT

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