This book presents the detailed economic interpretation of the basic concepts and terms used for applied finance, accounting and analysis in the context of international financial reporting standards, domestic accounting regulation, and international financial and accounting practices. Concepts with algorithmic content are supplemented by examples. The book contains financial statements currently used in Russia, algorithms of calculating key analytical indicators, formulas of financial mathematics, and financial tables. Most terms are given in Russian and English transcriptions, which make it particularly useful for businessmen having relations with foreign counterparts. New articles have been added to the third edition, as well as changes and additions resulting from the release of the new regulation for accounting, reporting and recognition of IFRS in Russia.

The book is intended for university students, teachers, academics and practitioners specializing in accounting and financial management.