Comparison Of Financial Statements Prepared Following IFRS Versus National Accounting Standards
Keywords:
IFRS, National Accounting Standards, Gray's Comparability Index, Financial Coefficients
Abstract
This article discusses issues in the development of a common accounting language for businesses in order to better understand financial information. This research paper aims to explore whether there is any difference between the two reporting standards. The study was conducted from 2016 to 2023 for Issiqlik Elektr Stansiyalari JSC. In this research has been examined balance sheet and profit and loss statements in order to evaluate the discrepancy between the two reporting norms using the 1980 Gray Comparability Index (GCI), as well as to study the difference between financial ratios under IFRS and National Accounting Standards.
References
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Kozimjonov, A., Problems with Accounting of Borrowing Costs Capitalized in Compliance with the IFRS and the Ways to Solve them // ACM International Conference Proceeding Series. 2021. № 366. С. 369. DOI: 10.1145/3508072.3508137.
Olimovich, K.R. & Rasulovna, K.F., Influencing Factors on Changes in Accounting Policies // Res Militaris. 2022. № 12(2). С. 125-134.
Popkova, E.G., Bogoviz, A.V., Pozdnyakova, U.A., Przhedetskaya, N.V. Specifics of economic growth of developing countries // Studies in Systems, Decision and Control. 2018. № 135. С. 139-146. DOI: 10.1007/978-3-319-72613-7_12.
Tursunov B. Financial security in small business in period of digital economy: in case of Uzbekistan // ACM International Conference Proceeding Series. 2022. С. 491–498.
Urinova, A., Tulaev, J., Choriev, B. Determination of distribution areas and reserves for state accounting of Tajik Kavrak (Ferula Tadshikorum Pimenov) resources in the flora of Surkhandarya and Kashkadarya provinces, Uzbekistan // E3S Web of Conferences. 2023. № 376. С. 02011. DOI: 10.1051/e3sconf/202337602011.
Abdurakhmanov R.A. IFRS is the basis for reforming national accounting and reporting systems. Mustaqillik yillarida Uzbekiston moliy-bank tizimining rivozhlanishi. Ilmiy-amaliy anzhumani makolalari tuppami (2016 November 25). - T.: TDIU, 2016. - 684 b. (B.282)
B. Joraev. "Issues of improving accounting, economic analysis and auditing in increasing the efficiency of the real sector of the economy". A collection of materials of the republican scientific-practical conference. - T.: TDIU, 2015.
Costel Istrate (2013) Impact of IFRS on Accounting Data Gray Index of Conservatism Applied to Some European Listed Companies, Scientific Annals of the Alexandru Ioan Cuza University of Iaşi Economic Sciences, 60(2).
Ibragimov, A., Karimov, A., Rizayev, N., & Imamova, N. (2018). International Financial Reporting Standards. Т:“Moliya.
Pardaev B.Kh. Management account. - T.: G'. Ghulom Publishing House, 2018. p. 170.
Khasanov B.A., Hashimov A.A. Management account. Textbook. - T.: Economy-Finance, 2005. p. 125.
Akramov A.A. Accounting and auditing in the corporate management system. Monograph. - T.: Economy-Finance, 2008. p. 12.
Published
2024-12-02
How to Cite
Ergasheva Shakhlo Turgunovna. (2024). Comparison Of Financial Statements Prepared Following IFRS Versus National Accounting Standards. Central Asian Journal of Innovations on Tourism Management and Finance, 5(8), 570-576. https://doi.org/10.51699/cajitmf.v5i8.790
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