Economics, Econometrics and Finance
3 years ago

Global Accounting Standards Revolutionize Financial Reporting Across Countries

The institute of accounting control and analysis in the globalization circumstances
HARMONIZATION AND STANDARDIZATION AS AN OBJECTIVE NECESSITY DEVELOPMENT INSTITUTE OF ACCOUNTING
Iryna Belova, Nataliia Semenyshena

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The article discusses the importance of making accounting practices more similar across different countries. It explores the concepts of harmonization (making practices similar) and standardization (using clear rules). The researchers looked at works by experts and laws in Ukraine to understand how to improve accounting practices. They found problems in implementing international accounting rules and suggested clearer guidelines for using them nationally. Future research will focus on learning from other countries to improve accounting practices in Ukraine.