Armenia’s small and medium businesses to join ISFRJune 4, 2010 - 13:54 AMT PanARMENIAN.Net - Shareholder of Grant Thornton Amiot audit and consulting company Gurgen Hakobyan said that adoption of the International Standards of Financial Reporting (ISFR), including by small and medium businesses of Armenia, will provide with the opportunity to transparently exchange information on business conduct at international financial markets. “Besides, the transfer will allow unifying concepts and process of bookkeeping,” Hakobyan told a PanARMENIAN.Net reporter. He added that the preparation of financial reports in compliance with international standards is a technically complicated process, so it was decided to simplify it at the international level. Currently, there are two options of financial reporting: one for large corporations and a simplified option for small and medium businesses. “This served as an impetus for accelerating the process of transfer from national to international standards,” Hakobyan said. On June 2, the Armenian Ministry of Finance hosted an official ceremony of submission of financial reports by small and medium businesses that were developed in compliance with international standards. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |