ANALYSIS OF ACCOUNTING MODELS OF ITALY AND JAPAN. PROSPECTS FOR THE UKRAINE

Abstract

The article is devoted to solving the problems of Ukrainian accounting based on the analysis of accounting models of Italy and Japan as the leading economies of the world and countries with successful experience in implementing international standards. The prerequisite for this study was the situation in the international market. The movement of capital, resources, and technology between countries increases every year; international relations, integration efforts, and the activities of global organizations grow in importance. Taken together, this leads to the need to rethink existing standards and their convergence. Already today some researchers put forward a hypothesis that one of the trends of the future will be the rejection of national standards and full transition to international standards. That is why we reviewed the problem of studying and possible use of foreign experience for improvement of available standards. Italy has a successful experience with the introduction of pan-European accounting and reporting requirements. Its study is important because of the country's membership in the European Union, which remains a key partner of Ukraine. Japan is the third largest economy in the world and has a successful track record of converging accounting and reporting to IFRS requirements. This study considers the historical background of the emergence of existing standards in the countries, the basic principles of reporting, the experience of convergence, current trends; investigates the differences in approaches to the quality of education, compliance and objectives for the formation of standards; reviews the classification of accounting models for socio-economic factor, highlights their main features and characteristics. The problems of shadowing and outsourcing as those that directly affect the quality of accounting and auditing are separately outlined. Generalized the main problems that hinder the development of accounting in Ukraine, as well as those that it can face under the influence of globalization, unification and standardization. It is concluded about the necessity of making specific changes in the existing Ukrainian standards and legislative framework, as those that have a major impact on the formation of the principles of accounting and auditing firms.