IFRS are international financial reporting standards. They are not rules or regulations, but rather principles adopted by most Western companies. First of all, they are designed to increase the transparency of financial statements of companies, as well as to facilitate these reports for the perception of ordinary people. The gradual integration of Russian business into the global economy puts Russian companies in need of implementing international financial reporting standards (IFRS). The main objectives of the international reporting standards are to improve the reliability of accounting data and transparency of all operations of the company to investors. This allows Russian companies to place their securities in the financial markets of developed countries and gain access to cheaper loans and investments.

Valuation for IFRS includes the following types of valuation:
• Adoption of international financial reporting. Valuation for IFRS purposes is carried out to reflect the actual value of property, plant and equipment and primary preparation. Objects of valuation - fixed assets and construction in progress, sometimes intangible assets;
• Business combination. Valuation for IFRS is carried out in order to correctly reflect the value of acquired assets on the balance sheet. The objects under consideration are tangible assets and liabilities of the company, as well as intangible assets, the work on which is the most important stage of the work of our specialists;
• Impairment of assets. Valuation of fixed assets under IFRS is carried out for the purpose of impairment of assets. As a rule, it is carried out in case of deterioration of economic conditions;
• Fixed assets. In some cases IFRS require annual revaluation of fixed assets of the enterprise with involvement of the independent expert;
• Intangible asset. Valuation for IFRS purposes in this respect - a reasonable reflection of intangible assets;
• Investment property. Annual revaluation of objects used for investment purposes.