The Russian Ruble crisis Assignment Example | Topics and Well Written Essays - 250 words

The Russian Ruble crisis - Assignment Example One, the economic hardships in Russia at the time had taken a political dimension. This derailed the government’s course to adhere to the targets set by IMF. Two, the tax system in Russia was so complicated to be aligned with the IMF requirements. Three, increasing public debts made it harder for the Russian government to implement IMF’s demands. Finally, the Russian government had other economic hardships that awaited its attention; among them persistent inflation and critically low ruble value. Russia’s tax cuts and increased government revenue had been deemed unachievable for quite some time. The early 2000s move and subsequent results proved otherwise. Reduced tax rates translated to increased government revenue. This was the case because individual and corporate tax payers considered compliance to be cheaper than evading tax payment. This realization did not mean that policy prescriptions by IMF were wrong. Rather, the Russian government took action with regard to its situation subject to having parted ways with the

Comparison of Accounting Standards of FASB and IASB Research Paper

Comparison of Accounting Standards of FASB and IASB - Research Paper Example The International Accounting Standards Board (IASB) is an independent body in the private sector. It develops and approves International Accounting and Financial Reporting Standards. The International Accounting Standards Board (IASB) functions under the International Financial Reporting Foundation oversight. It was formed in 2001 in replacement of the International Accounting Standards Committee. International Accounting Standards Board (IASB), under the constitution of International Financial Reporting Foundation, has a full responsibility for all technical issues of the financial reporting standards such as: preparation and issuing the interpretations of exposure drafts and International Financial Reporting Standards, full discretion in pursuing and developing technical agenda dependent on requirements of consultation with the public and trustees, the issuing and approval of interpretations by the International Financial Reporting Standards Interpretations Committee.