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№ 3/2016

№ 3/2016

Fìnansi Ukr. 2016 (3): 116–127

ACCOUNTING AND AUDIT

GASANOV Sergіi 1, KOTLJAREVSKYJ Jaroslav 2, KOVALENKO Kateryna

1SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-7454-0419
2SESE “Academy of Financial Management”, Research ID : http://www.researcherid.com/rid/I-4694-2017
OrcID ID : https://orcid.org/0000-0003-3542-6952


Identification of current changes to IFRSS as a key aspect of updating the accounting regulatory framework in Ukraine


In Ukraine, European integration is seen as a way of upgrading the economy, overcoming technological backwardness, attracting foreign investments and innovative technologies, creating new jobs, improving competitiveness of domestic producers, obtaining access to global markets, especially to the EU market. Further integration requires, above all, convergence of national legislation with the European standards in the field of accounting and financial reporting. Frequent updates of International Financial Reporting Standards (IFRSs) necessitate constant monitoring of changes, their processing, analysis of prospects for their consideration in improving the legal framework for accounting and financial reporting on the basis of IFRSs. Recently, the IASB has amended IFRS 19, Employee Benefits, adopted new IFRS 13, Fair Value Measurement, IFRS 10, Consolidated Financial Statements, IFRS 11, Joint Ventures, IFRS 12, Disclosure of Interests in Other Entities. The IASB agreed on a number of new documents determining further changes in the regulation of financial statements. Major changes should be reflected in Ukraine’s accounting regulatory framework. For example, changes in the Exposure Draft, Leases should be taken into account in updating NAS 14, Leases, the amendments to the IFRS for SMEs – in making regular updates to NAS 25, Financial Report of a Small Business Entity, amendments to IFRS 19, Employee Benefits and comments (IFRIC 14) on IAS 19, The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction – in revising NAS 26, Employee Benefits.

Keywords:International Financial Reporting Standards, accounting, accounting regulatory framework, financial reporting, implementation, European integration.

JEL: M41, K23, K33.


Gasanov S. . Identification of current changes to IFRSS as a key aspect of updating the accounting regulatory framework in Ukraine / S. . Gasanov, J. . Kotljarevskyj, K. Kovalenko // Фінанси України. - 2016. - № 3. - C. 116-127.

Article original in Ukrainian (pp. 116 - 127) DownloadDownloads :921
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