Key aspects of Russian accounting of foreign currency transactions

Abstract

In the article historical aspects of formation and development of currency policy and
system of normative regulation of accounting of currency operations are investigated in Russia, disputable
and unresolved questions of operating normative documents on an estimation and recalculation of cost of
assets and the obligation of their expression in foreign currency in rubles. The research methodology is
based on a set of general methods (analysis, system approach, comparisons, generalizations) and methods
of empirical research (observation, description, analysis). The author of the article, regulated by PBU
3/2006, substantiated by the specifics in the order of conversion of property and liabilities into rubles, the
value of which is expressed in the quoted and unquoted DGPF of foreign currency, studied the essence of
cross-rates of foreign currencies, disclosed the conditions and mechanisms of foreign currency conversion,
proposed the method of accounting of conversion operations in foreign currency.