International Financial Reporting Standards in Uzbekistan

International Financial Reporting Standards (IFRS) – is a set of documents (standards and interpretations) and rules governing the preparation of financial statements for external users required for the adoption of economic decisions with respect to the enterprise.

The purpose of financial reporting standards – to reduce the differences and variety of interpretations in providing financial reporting, improve the quality and comparability of information, harmonization of standards. Common standards allow to evaluate and compare the performance of different companies, including at the international level, more effectively.

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