{"id":2760,"date":"2023-05-16T12:18:00","date_gmt":"2023-05-16T12:18:00","guid":{"rendered":"https:\/\/interfinance.tsue.uz\/?p=2760"},"modified":"2023-05-16T12:18:29","modified_gmt":"2023-05-16T12:18:29","slug":"comparative-characteristics-of-nas-and-ifrs","status":"publish","type":"post","link":"https:\/\/interfinance.tsue.uz\/?p=2760","title":{"rendered":"COMPARATIVE CHARACTERISTICS OF NAS AND IFRS"},"content":{"rendered":"

Kamalova Feruza Kahramonovna,<\/strong><\/em><\/p>\n

Lecturer of the department “Accounting”, TFI, Tashkent, Uzbekistan. <\/em><\/p>\n

Email: <\/em>feruzakamolova92@gmail.com<\/a><\/em><\/p>\n

ORCID: 0009-0002-7799-1378<\/em><\/p>\n

 <\/p>\n

Abstract. <\/em><\/strong>This article discusses the transition to International Financial Reporting Standards (IFRS) as an important element in the further development of both the economy as a whole and enterprises that are tasked with attracting private foreign capital, increasing competitiveness and entering international markets.<\/em> It has been determined that the use of IFRS is necessary to simplify international comparisons on the elements of financial statements, allowing investors to make effective financial decisions, since they can reliably see and understand what is happening with the company in which they want to invest. In countries that have adopted IFRS, companies and investors<\/em> benefit: the first from the fact that the cost of attracted investments will be lower, the second due to the fact that risks can be accurately assessed if the company’s business practices are transparent.<\/em> The application of IFRS is necessary to make business standards and accounting systems comparable between<\/em> companies and between countries. The article also gives a comparative description of national accounting and international financial reporting standards. The article made a comparative description of national and international financial reporting standards, in particular, examples of existing international financial reporting standards, as well as their analogues according to national standards are given.<\/em> The results of the Decree of the President of the Republic of Uzbekistan “On additional measures for the transition to international financial reporting standards” are given, which provides information on how many enterprises for 2022 prepare statements under IFRS, as well as conclusions and suggestions, where the author gives possible ways to implement international standards financial reporting.                  <\/em><\/p>\n

Keywords: <\/em><\/strong>International Financial Reporting Standards, National Accounting Standards, Transformation, Joint Stock Companies, Transparency, Investment activity, principles, investors.<\/em><\/p>\n\n\n