The article covers various approaches to defining such terms as "income", "profit","expenses" and "financial results". The main task is to compare these terms described in economicliterature, Russian accounting system and international financial accounting standartsand to define principal differences between consumption and expenses. Information concerningaccounting statements elements (such as assets, obligations, capital, income and expenses)is discribed in depth. The article studies two concepts of capital sustainment (those are discribedin Conceptual basis of IAS) which significant difference lies in asset and obligationprice change accounting.
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