HARMONIZATION AND STANDARDIZATION AS AN OBJECTIVE NECESSITY DEVELOPMENT INSTITUTE OF ACCOUNTING
Journal Title: The Institute of Accounting, Control, and Analysis in the Globalization Circumstances - Year 2018, Vol 1, Issue 3
Abstract
Introduction For today, when considering processes aimed at reducing differences in the financial reporting of different countries, such concepts as "harmonization" and "standardization" are used. Harmonization of accounting should be understood as the similarity of accounting practices in different countries, and standardization - the application of more stringent and less vague accounting rules. These words in the context of accounting have become almost technical terms and in their meanings it is difficult to grasp the practical difference. Methods. The theoretical and methodological basis of the research are the works of leading domestic and foreign scientists on the harmonization and standardization of accounting, legislative and regulatory documents governing the Institute of Accounting in Ukraine. In the course of the research, the bibliographic method (research of literary sources for obtaining the necessary information on the research topic) was used; the method of associations and analogies (for proposed new ideas and proposals arising on the basis of comparison with other more or less similar objects). Result. As a result of research into the theoretical and organizational-practical foundations for the harmonization and standardization of the Institute of Accounting in Ukraine, a number of problems have been identified related to the formation of institutional mechanisms that ensure the development and implementation of IFRS and their application at the international and national levels, as well as the provision of coordinated work of these mechanisms ; proved the need to address the issues of legal implementation of IFRS in national practice; with the need for a clear understanding of the scope of application of IFRS at the national level. Discussion. Prospects for further research are aimed at studying international accounting experience, substantiation of the process of harmonization and standardization of national standards, which will increase the efficiency of accounting practices in Ukraine.
Authors and Affiliations
Iryna Belova, Nataliia Semenyshena
Keywords
Related Articles
- EP ID EP662475
- DOI -
- Views 193
- Downloads 0
THE BALANCE METHOD CONCEPT OF ACCOUNTING AND ANALYTICAL SUPPORT OF THE AGRICULTURAL ENTERPRISES’ SUSTAINABLE DEVELOPMENT REPORTING
Introduction. The author conducted a study to develop a concept of the balance method of accounting and analytical support for further application in the practical implementation of the agricultural enterprises’ sustaina...
ACCOUNTING IN THE DIGITAL ECONOMY CONDITIONS
Impressive changes in the growth of the role of information and information technologies as a factor in public life have led to the transition to the information society and the formation of the digital economy as the de...
ACCOUNTING REFLEXION OF ECO-INNOVATIVE PROCESS AT AGRICULTURAL ENTERPRISES
Introduction. The author examines the level of accounting reflection of eco-innovative process at agricultural enterprises. Extensive coverage is given to the main directions of accounting improvement of environmental in...
MANAGEMENT ACCOUNTING INVENTORY IN THE LOCATION ON COMMERCIAL ENTERPRISES
Introduction. Urgent issues in the process of decision making are solving the problems of establishing the system of management accounting of goods in storage. In this connection the need of improving the classification...
HARMONIZATION AND STANDARDIZATION AS AN OBJECTIVE NECESSITY DEVELOPMENT INSTITUTE OF ACCOUNTING
Introduction For today, when considering processes aimed at reducing differences in the financial reporting of different countries, such concepts as "harmonization" and "standardization" are used. Harmonization of accoun...