Specifics of Accounting under National and International Standards: Comparative Aspect

Kostyantyn Bezverkhiy ()
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Kostyantyn Bezverkhiy: 'New-Paris' Ltd.

Oblik i finansi, 2014, issue 2, 8-13

Abstract: Today Ukraine is actively moving towards adoption of International Financial Reporting Standards (IFRS). For successful implementation of IFRS into national accounting policy it is, above all, required to determine differences between international and national standards. The article covers the analysis of accounting specifics according to national and international standards. The author has carried out comparative analysis of most international standards and their Ukrainian analogs. Main specifics have been particularly highlighted as to the accounting kept in compliance with international and national standards referring to such its objects as biological assets, inventories, liabilities, investment property, intangible assets, lease, fixed assets, financial investment. As shown from the results of the research done, despite the statement of the Ministry of Finance of Ukraine that national standards were developed on the basis of the international ones, considerable differences still remain.

Keywords: International Financial Reporting Standards; National Accounting Standards; biological assets; inventories; liabilities; investment real property; intangible assets long-term assets; lease; fixed assets (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2014
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