14.12.06

Seminar Presentations
The Swissotel, Moscow
10 November, 2006

ACCOUNTING AND TAXATION FOR PROMISSORY NOTE TRANSACTIONS
by Galina Klimenko, Auditor, Alinga Consulting Group

Promissory notes have become a widely used means of payment in Russia. A promissory note is a unique financial instrument with broad applicability, including relations between banks, businesses, and entrepreneurs and civilians, since its use presents a wide range of possibilities. Promissory notes fulfill several financial functions. They can be a means of crediting or investing funds or can be used as a means of payment. This presentation will examine the general rules for issuing and using promissory notes and the particularities associated with them in terms of accounting and taxation.

NEWS IN LABOR LAW
by Ksenia Khudiakova, Legal Consultant, Alinga Consulting Group

On October, 6th, 2006 numerous changes came into force within the Labor Code of the Russian Federation. They concern both workers and employers and also amend the legislation concerning bookkeeping by altering how payments to workers should be recorded. How the legislation operated up to October 6th and how it has changed after that date, I will discuss in greater detail within my presentation.

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ACCOUNTING AND TAX ASPECTS OF LEASING
by Yulia Mazur, Head of Accounting Consultation, Alinga Consulting Group

Russian accounting is guided by "property rights" concepts, but international financial reporting is driven by the concept of "control of assets." According to the first concept, an asset should be recorded in the balance of the enterprise to which it formally belongs. Russian law describes separate requirements for accounting and taxation of leasing contracts for both those receiving assets via a lease and those who profit from leasing their assets.

See Also: Questions and Answers From Seminar Participants>>>

Other Presentations:

Recent Developments in Tax Administration: Changes to part I of the Tax Code
Elena Zaitseva, Head of the Desk Audit Department of Tax Inspection №47

Recent Developments in Taxation
Alexii Spirikhin, Senior Accountant, Alinga Consulting Group

Accounting and Taxation for Dividends: Declared dividends and disbursed dividends - events occurring after the reporting date
Galina Borisovna Kovaleva, Tax Consultant and Independent Entrepreneur

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