Accounting in Ukraine: implementation of the European Union directives

Abstract

The study focuses on changes made to the Law of Ukraine “On Accounting and Financial Reporting in Ukraine” for the purpose of implementing accounting standards to the European Union directives. The object of the research paper is accounting in Ukraine. The purpose of the study is to analyze the current state and development trends of accounting in Ukraine in the context of the implementation of European legislation. Research methods such as analysis, synthesis, induction, deduction, abstraction, idealization and generalization are used to analyze the changes introduced into the Law of Ukraine “On Accounting and Financial Reporting in Ukraine”. Today, Ukraine is moving actively towards the implementation of European legislation into domestic practice, including standards of accounting and financial reporting. Successful implementation of European legislation into domestic accounting practice, first and foremost, requires clarification of differences in accounting and financial reporting. The amendments made to the Law of Ukraine “On Accounting and Financial Reporting in Ukraine” will promote harmonization of national legislation in the field of accounting and financial reporting with the legislation of the European Union countries and the International Financial Reporting Standards. The changes introduced will provide the basis for raising accounting and financial reporting in Ukraine to a qualitatively new level that will enable effective management decision- making by domestic business entities. The results obtained are the basis for accounting and financial reporting in Ukraine, in accordance the norms of the European Union directives. The research results may be used all economic entities in Ukraine in different sectors of the economy.

Authors and Affiliations

Keywords

Related Articles

Institutional aspects for accelerating Ukraine’s energy services market

The article considers the necessity of accelerating Ukraine’s energy services market as a measure for improving energy efficiency of the national economy and energy safety as well as enhancing energy efficiency of housin...

Sales management, its functions and object orientation

The essence of sales management and various options for treatment are observed. The author determined the nature of sales management. There are emphasized the differences between the concepts of “sale” and “sale”. The at...

Social-economic principles of the public trust to the bank sector

The features of modern economic development of Ukraine and totality of those negative phenomena, which affect organization of money-and-credit relations, are considered. Institutional principles of forming of trust to th...

Current challenges for regional development: threats to economic security

The article deals with current challenges for regional development and their impact as causes of threats to economic security. Economic security is seen as a complex multilevel system, the formation of which occurs at va...

The merger of power and property in Ukraine: a mechanism of implementation and ways for regulation

The article addresses the issue of informal interrelation between power and property in Ukraine. Such a merger results in the following undesirable situations: when the government lobbies for the companies whose business...

Download PDF file
  • EP ID EP462945
  • DOI -
  • Views 92
  • Downloads 0

How To Cite

(2018). Accounting in Ukraine: implementation of the European Union directives. Visnyk Ternopilskoho natsionalnoho ekonomichnoho universytetu, 1(), 136-151. https://europub.co.uk./articles/-A-462945