Asian Journal of Research in Business Economics and Management
  • Year: 2021
  • Volume: 11
  • Issue: 10

Improving the application of international financial reporting standards in Uzbekistan

1Assistant Professor, Candidate of Economic Sciences, Vice-Rector for Youth Affairs of the Tashkent Institute of Finance, Uzbekistan

2PhD, Associate Professor, Department of “Audit”, Tashkent Institute of Finance, Uzbekistan

*Email id: dj.msx@mail.ru

Online published on 21 January, 2022.

Abstract

The processes of economic globalization are characterized by fundamental changes in economic relations between countries, financial systems and mechanisms, rules of doing business. At the present time, international regulation of accounting and financial reporting serves to protect the interests of all users of reporting, because a unified system is easier to understand than many national systems.Therefore, this article discusses the improvement of the application of international financial reporting standards (IFRS), and also recommends the order of the stages of implementation of IFRS in enterprises in Uzbekistan.

Keywords

Financial Report, International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), International Standards On Auditing (ISA), Certified International Professional Accountant (CIPA), Association Of Chartered Certified Accountants (ACCA), Certified Public Accountant (CPA), Diploma In International Financial Reporting (Dipifr), International Accountant Certificate, Pilot Higher Education Institutions, Accounting, Auditing