INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE
The article is devoted to the issues of implementation and application of international financial reporting standards (IFRS) in the accounting system of Ukraine. The prerequisites and necessity of introducing IFRS into the accounting practice of domestic enterprises are outlined as a requirement of...
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| Format: | Article |
| Language: | English |
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FINTECH Alliance LLC
2023-02-01
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| Series: | Фінансово-кредитна діяльність: проблеми теорії та практики |
| Subjects: | |
| Online Access: | https://fkd.net.ua/index.php/fkd/article/view/3952 |
| _version_ | 1826994731860623360 |
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| author | Liudmyla Sas Ivan Balaniuk Diana Shelenko Mariya Vasylyuk Petro Matkovskyi Liudmyla Hnatyshyn |
| author_facet | Liudmyla Sas Ivan Balaniuk Diana Shelenko Mariya Vasylyuk Petro Matkovskyi Liudmyla Hnatyshyn |
| author_sort | Liudmyla Sas |
| collection | DOAJ |
| description |
The article is devoted to the issues of implementation and application of international financial reporting standards (IFRS) in the accounting system of Ukraine. The prerequisites and necessity of introducing IFRS into the accounting practice of domestic enterprises are outlined as a requirement of time, a market system of management and a necessary condition for integration into the European Union. Among the important factors of IFRS implementation is international cooperation; therefore special attention is devoted to the coverage of Ukraine's foreign economic activity.
The key aspects of the process of implementation and application of IFRS in Ukraine have been reflected. The peculiarities of regulatory regulation of the formation and presentation of financial statements according to international standards are disclosed. Business entities that, in accordance with the legislation of Ukraine, are required to keep records and prepare financial statements in accordance with IFRS have been singled out.
The main problems of the application of IFRS in Ukraine have been clarified, in particular the differences between the requirements of international and national standards for approaches to accounting and disclosure of information in financial reporting. The ways to solve existing problems are outlined.
The expected positive results from accounting according to international standards in the direction of the development of international cooperation on the basis of increasing the trust of foreign partners in the quality of the information in the financial statements of domestic enterprises have been determined.
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| first_indexed | 2024-03-12T03:50:52Z |
| format | Article |
| id | doaj.art-ba3c1db639604e18bea1365cbec9a0dc |
| institution | Directory Open Access Journal |
| issn | 2306-4994 2310-8770 |
| language | English |
| last_indexed | 2025-02-18T09:22:48Z |
| publishDate | 2023-02-01 |
| publisher | FINTECH Alliance LLC |
| record_format | Article |
| series | Фінансово-кредитна діяльність: проблеми теорії та практики |
| spelling | doaj.art-ba3c1db639604e18bea1365cbec9a0dc2024-11-02T21:10:48ZengFINTECH Alliance LLCФінансово-кредитна діяльність: проблеми теорії та практики2306-49942310-87702023-02-0114810.55643/fcaptp.1.48.2023.3952INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINELiudmyla Sas0Ivan Balaniuk1Diana Shelenko2Mariya Vasylyuk3Petro Matkovskyi4Liudmyla Hnatyshyn5D.Sc. in Economics, Professor of the Department of Accounting and Taxation, Vasyl Stefanyk Precarpathian National University, Ivano-Frankivsk, UkraineD.Sc. in Economics, Professor, Head of the Department of Accounting and Taxation, Vasyl Stefanyk Precarpathian National University, Ivano-Frankivsk, UkraineD.Sc. in Economics, Professor of the Department of Theoretical and Applied Economics, Vasyl Stefanyk Precarpathian National University, Ivano-FrankivskD.Sc. in Economics, Professor of the Department of Accounting and Taxation, Vasyl Stefanyk Precarpathian National University, Ivano-Frankivsk, UkraineD.Sc. in Economics, Professor of the Department of Accounting and Taxation, Vasyl Stefanyk Precarpathian National University, Ivano-Frankivsk, UkraineD.Sc. in Economics, Professor, Head of the Department of Accounting and Taxation, Lviv National University of Nature Management, Lviv, Ukraine The article is devoted to the issues of implementation and application of international financial reporting standards (IFRS) in the accounting system of Ukraine. The prerequisites and necessity of introducing IFRS into the accounting practice of domestic enterprises are outlined as a requirement of time, a market system of management and a necessary condition for integration into the European Union. Among the important factors of IFRS implementation is international cooperation; therefore special attention is devoted to the coverage of Ukraine's foreign economic activity. The key aspects of the process of implementation and application of IFRS in Ukraine have been reflected. The peculiarities of regulatory regulation of the formation and presentation of financial statements according to international standards are disclosed. Business entities that, in accordance with the legislation of Ukraine, are required to keep records and prepare financial statements in accordance with IFRS have been singled out. The main problems of the application of IFRS in Ukraine have been clarified, in particular the differences between the requirements of international and national standards for approaches to accounting and disclosure of information in financial reporting. The ways to solve existing problems are outlined. The expected positive results from accounting according to international standards in the direction of the development of international cooperation on the basis of increasing the trust of foreign partners in the quality of the information in the financial statements of domestic enterprises have been determined. https://fkd.net.ua/index.php/fkd/article/view/3952International standardsAccounting systemAccountingFinancial reportingRegulationForeign economic activity |
| spellingShingle | Liudmyla Sas Ivan Balaniuk Diana Shelenko Mariya Vasylyuk Petro Matkovskyi Liudmyla Hnatyshyn INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE Фінансово-кредитна діяльність: проблеми теорії та практики International standards Accounting system Accounting Financial reporting Regulation Foreign economic activity |
| title | INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE |
| title_full | INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE |
| title_fullStr | INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE |
| title_full_unstemmed | INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE |
| title_short | INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE |
| title_sort | international financial reporting standards ifrs in the accounting system of ukraine |
| topic | International standards Accounting system Accounting Financial reporting Regulation Foreign economic activity |
| url | https://fkd.net.ua/index.php/fkd/article/view/3952 |
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