HARMANIZATION OF ACCOUNTING IN THE CONDITIONS OF THE EAEU: CURRENT STATE AND PROBLEMS

Abstract

The article examines a wide range of issues related to the possibility and feasibility of harmonization of accounting and financial reporting, which, if implemented, would help improve the information base for the preparation of national accounts and the consistency of economic analysis. International Financial Reporting Standards (IFRS) are chosen as the main tool of information support for the integration of the countries of the Eurasian Economic Union (EAEU). On this basis the analytical review of the current state of harmonization of accounting in these countries is made: the trends are revealed, the current problems are summarized and the directions of development of the legislative and institutional framework of ac-counting are proposed. The subject of the study is a set of theoretical-methodological, organizational and practical problems of accounting harmonization at the national and international levels.The laws and bylaws of the EAEU countries governing the accounting and financial reporting procedures of busi-ness entities, as well as IFRS, are the object of study. The aim of the study is to scientifically substantiate the necessity of harmonization of accounting and reporting compiled according to national standards and to determine the directions of further research in this area. To implement this goal the following tasks are set: study of the organization of accounting, assessment of the state and problems of development of accounting and financial reporting in the EAEU countries. The results of the study can be used as meth-odological provisions determining the directions of development and content of accounting and analysis for solving applied problems to provide information support for managerial decisions.

Keywords

• accounting
• standardization
• harmonization
• accounting system
• financial reporting
• ifrs.