INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN THE ACCOUNTING SYSTEM OF UKRAINE

Анотація

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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