Impact of Russia and Ukraine War on Accounting for Continuing and Discontinuing Operations
Dr. Sattam S. Alrowais

Abstract
Conflicts tend to affect business operations in major ways. That is especially the case when it comes to the supply chain as such, following the Ukrane-Russian conflict, multinationals operating n Russia, Ukraine and Belarus have been forced to critically analyze the situation. That is with the aim of determining to what extent it affects their ability to control their operations in the conflict nations. The sanctions placed on Russia because of the conflict make it worse because some of the foreign nations have lost the control they had over the subsidiaries/operations in Russia, hence, forcing them to discontinue their operations. It is worth noting that as per IFRS 10 guidelines, there is no exclusion from consolidation due to loss of control or even as a result of challenges in exchanging foreign currencies. Hence, firms that do not discontinue their operations in Russia, Ukraine, and Belarus have to continue consolidating the financial statements of their subsidiaries.

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