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 | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |