Features of the Process of First Application of International Financial Reporting Standards in the Accounting and Reporting System of the Republic of Uzbekistan

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Published
2024-05-13
Issue
Vol. 2 No. 4 (2024): Innovative: International Multi-disciplinary Journal of Applied Technology
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Authors

  • Misirov Komoliddin Mamasabirovich BS

    Tashkent State University of Economics, Professor of "Accounting and Reporting" department, (DSc)
Keywords:
International Financial Reporting Standards, reporting, transparency, assets, liabilities, exclusion.
Abstract

The article reveals the features of the adoption of IFRS in accounting and reporting of the Republic of Uzbekistan. The main problems are revealed, mandatory exceptions and optional exemptions are considered in relation to the first application of IFRS, as well as requirements for disclosure of information in the first statements prepared in accordance with IFRS

The article describes the provisions of IFRS 1, which must be observed by companies when applying IFRS for the first time, and also discusses their impact on the main stages of transition to IFRS.

How to Cite

Misirov Komoliddin Mamasabirovich. (2024). Features of the Process of First Application of International Financial Reporting Standards in the Accounting and Reporting System of the Republic of Uzbekistan. Innovative: International Multidisciplinary Journal of Applied Technology (2995-486X), 2(4), 65-71. https://multijournals.org/index.php/innovative/article/view/870