Improvement of the Financial Reporting Process on the Basis of the Requirements of International Standards
Keywords:
Financial reporting, international standards of financial reporting, balance sheet, statement of comprehensive income, statement of cash flows, statement of equity, going concern.Abstract
In this article, the directions for improving the preparation of financial statements based on the conceptual foundations and principles of financial reporting and the requirements of international standards of financial reporting are presented. Also, proposals and recommendations were developed regarding the methods of transforming financial reports into the International Financial Reporting Standards (IFRS) format and their application.
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References
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