PROSPECTS FOR THE DEVELOPMENT OF NATIONAL ACCOUNTING SYSTEM IN THE CONTEXT OF EUROPEAN INTEGRATION PROCESSES

Abstract

The article substantiates the prospects for further development of the accounting and reporting system in Ukraine in the conditions of European integration processes. Based on the critical analysis of international experience in the application of IFRS, the main approaches to their implementation in the practical use of business entities in Ukraine are identified. The main problems of the full application IFRS in the formulation of financial statements are determined: the binding of the provisions of the Tax Code of Ukraine to the accounting data and financial reporting regardless of the standards used; the state is the sole customer and user of financial statements of domestic enterprises, compiled in accordance with the IFRS; historical-cultural and professional experience of domestic accountants in most cases does not meet the set task. Future tendencies of the accounting and reporting system in conditions of European integration of Ukraine are substantiated: further process of application of IFRS through legislative requirement to mandatory formation of financial statements in accordance with IFRS with expansion of list of subjects of management; increase in the motivation for the introduction of IFRS by business entities whose activities are export oriented to the international markets of products and, first of all, to the market of the European Union; further harmonization National accounting standards with IFRS and their application for accounting and reporting by business entities oriented to the domestic market of Ukraine; improvement of the simplified accounting and reporting system for micro and small enterprises, taking into account the requirements of IFRS for small business; raising the level of knowledge and practical skills of applying IFRS by specialists in the field of accounting through a system of higher education institutions and professional organizations.