Seminar on International Standards for Accountancy

On 26 – 27 June the Republican Centre for Technology Transfer hosted another seminar. This time the topic was “International Standards for Financial Accountancy (ISFA) as Facilities for Investments and Technology Transfer”.


The event has been organized by the International Association “Economic Research and Education”, with certain support rendered by the State Committee on Science and Technology, National Academy of Sciences, and the United Nations Development Programme.


The course was moderated by Director of RCTT Mr. A. Uspenskiy; PhD in economics, lecturer of the Accounting, Analysis and Audit Chair of the Belarusian State University of Economics Mr. T.N. Rybak; Director of the Sinkevich Technologies, expert in automated accounting Mr. A.P. Sinkevich.


During the two-day course the target trainees (managers and specialists of the economic departments of local enterprises) discussed several subjects: ISFA as a tool to facilitate the attraction of investments and technology transfer process; methods for transforming the Belarusian-standard accounting data into financial accounts that would meet the internationally set book-keeping requirements; approaches in identifying and selecting the best software and automation of transformation the Belarusian accounting data into the ISFA-standardized documentation; etc.


If Belarusian enterprises provide internationally acceptable accounting to their foreign partners, this will help conciliate those partners. Naturally, with more confidence about innovation and investment projects from Belarus, more advantageous financial terms and conditions are likely to be proposed by foreign partners.