ACCOUNTING IN FOREIGN COUNTRIES

Анотація

The article considers the regulatory framework of international standards and their structure. The authors analyzed concepts of "international standards" and "accounting". The focus of this study is on two types of accounting standards. The paper concentrates on stages of IFRS and their status. The activity of the IAS Board is studied. The classification of accounting standards according by their economic content is designed. The authors compare descriptions of financial and management accounting. The study concentrates on structure of national accounting standards and their division by economic content. The factors that influence accounting in different countries are outlined out and a common factor uniting all the types of accounting is highlighted. The article classifies Britain’s and the United States’, continental and the South American systems. The question what countries use those systems is explored. The paper pays special attention on activity of the International Accounting Standards Committee. The IFRS status and application of those are determined. The authors consider advantages of accounting and financial reports, having in mind the international standards and its basis is the empowerment of access to the international capital markets. The list of the countries that legally use International Financial Reporting Standards is identified. With an emphasis on components of the required financial reporting forms in foreign countries the implementation stages of international accounting and reporting standards in Ukraine are explored.

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