Principles and Quality Characteristics of Accounting and Financial Statements Under National Legislation and Their Harmonization With International Standards and EU Directives
Journal Title: International Journal of New Economics, Public Administration and Law - Year 2018, Vol 2, Issue 2
Abstract
The article deals with the issues of accounting and financial reporting methodology under the conditions of harmonization with the International Financial Reporting Standards for the enterprises and public sectors, EU Directives on Accounting and Financial Reporting. In Ukraine, the system of national standards has always been shaped by political decisions, not the Conceptual Framework of Financial Reporting. This led to an eclectic set of principles and a lack of a clear national position in creating the information basis for economic reforms. The comparison of the systems of principles and qualitative characteristics is made as well as the correlation between them and their changes in connection with the revision of the Law of Ukraine "On Accounting and Financial Reporting" and the Conceptual Framework of International Financial Reporting Standards for enterprises are considered. The option for further development of the national accounting standards system following the modern challenges of globalization, digitalization and socialization of society is proposed.
Authors and Affiliations
Svitlana Zubilevych, Nataliia Pozniakovska, Olesia Miklukha, Alla Sirotinska
Keywords
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- EP ID EP622273
- DOI 10.31264/2545-093X-2018-2(2)-36-45
- Views 147
- Downloads 0
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