INTERNATIONAL FINANCIAL REPORTING STANDARDS AND ISSUES OF ITS APPLICATION IN PRACTICE

Abstract

The article covers the issues of transition to international financial reporting standards in our country today, the transformation of the current accounting reporting into international standards. The issues of attracting foreign investors to our country through the transition to international financial reporting standards are outlined. Of course, the legislative framework of our country and the ongoing economic reforms are discussed in detail in this regard. The article discusses the measures being taken to transition to international financial reporting standards, the tasks set and the problems that arise in fulfilling them, as well as the needs for personnel in this area in our country, and also gives recommendations for further widespread teaching of international accounting standards in our country.