The Importance of The Improvement And Convergence of Ias/Ifrs to the National Accounting System of Uzbekistan
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Jun 26, 2020
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Это произведение доступно по лицензии Creative Commons «Attribution-ShareAlike» («Атрибуция — На тех же условиях») 4.0 Всемирная
Это произведение доступно по лицензии Creative Commons «Attribution-ShareAlike» («Атрибуция — На тех же условиях») 4.0 Всемирная
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Abstract
Nowadays, the world is changing very quickly and so is Accounting Practices. As free movement of capital and other resources is very important for the economic and political integration of the countries, harmonization and convergence of accounting and financial reporting can be considered as an integral part of this development. In addition, financial information of different firms around the world, which can be hardly achieved by different accounting and financial reporting practices can be easily compared by shareholders and other stakeholders. The foundation of a more apparent and proficient capital marketplace that will help a lower cost of capital. That is why the harmonization of international accounting standards and the national accounting system has already become an issue, need and problem in Uzbekistan.
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Кучаров, А. (2020). The Importance of The Improvement And Convergence of Ias/Ifrs to the National Accounting System of Uzbekistan. Ilmiy Tadqiqotlar Arxivi, 1(11). Retrieved from https://ejournal.tsue.uz/index.php/archive/article/view/1638
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I. The laws of the Republic of Uzbekistan
1. Law of the Republic of Uzbekistan “On Accounting” of April 13, 2016 (with subsequent additions and changes).
II. The decrees and orders of the Presidents of the Republic of Uzbekistan
2. Decree of President Islam Karimov of Uzbekistan “On measures on introduction of modern methods of corporate management in joint stock companies” on 24 April 2015.
3. The decision of the President of the Republic of Uzbekistan “On priority directions of further reforming and increasing sustainability of financial-banking system of the republic in 2011-2015 and achieving high international rating indicators.” “Collection of Laws of the Republic of Uzbekistan 2010.”
III. Resolution of the Cabinet of Ministers of the Republic of Uzbekistan and the legal documents of the ministries
4. National Accounting Standards of the Republic of Uzbekistan. Published in the publishing and information center of the National Association of Accountants and Auditors. –Т.:2012.
5. Law of the Republic of Uzbekistan “On Joint-Stock Companies and Protection of Shareholder Rights” of April 26, 1996 (with subsequent amendments and changes).
IV. Textbooks and journals
6. Ball, R., Robin, A., and Wu, J. (2003). Incentives versus standards: properties of accounting income in four East Asian countries and implications for the acceptance of IAS. Journal of Accounting and Economics, 36, 235-270.
7. Brown, P. (2011). “International Financial Reporting Standards: How real are the benefits?” Accounting and Business Research, 41(3), 269-285 p.
8. Choi, F., Frost C., Gary, K. (2002). International Accounting.4th edition. New Jersey: Prentice Hall, 243-296.
9. DeFond, M., Hu, X., Hung, M., and Li, S. (2011). The impact of mandatory IFRS adoption on foreign mutual fund ownership: The role of comparability. Journal of Accounting and Economics, 51(3), 242-256.
10. Deloitte & Touche. (2003). IFRS: Of Growing Importance for US Companies. Retrieved on December 1, 2008.
11. International Business & Economics Research Journal (2010). IFRS Adoption in the EU, Accounting Harmonization And Markets Efficiency: A Review by Gabriele Guggiola, University of Insubria, Varese, Italy Vol. 9, No. 12.
12. Jermakowicz, E. (2004). Effects of Adoption of International Financial Reporting Standards in Belgium: The Evidence from BEL-20 Companies. International Business Research, pp. 198-199.
13. McLeay, S., Neal, D., and Tollington, T., (1999). International Standardization and Harmonization: A New Measurement Technique. Journal of International Financial Management and Accounting, Vol. 10, No. 1, pp. 42-70.
14. Narayan, F.& Reid, B.(2000). Financial Management and Governance Issues in the Republic of Uzbekistan. Asian Development Bank. Retrieved on January 2, 2009.
15. REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC), The Republic of Uzbekistan, ACCOUNTING AND AUDITING, December 2008, made by team from World Bank, 38-76 p.
16. Samir, M. S. (2003). Harmonization of Accounting Standards. Chartered Accountant, ICAI.
17. Shima, K. M., & Gordon, E. A. (2011). IFRS and the regulatory environment: The case of U.S. investor allocation choice. Journal of Accounting and Public Policy, 30(5), 481-500.
18. Turner, L. (2001). Disclosure and Accounting in a Global Market: Looking to the Future. 35-56 p.
1. Law of the Republic of Uzbekistan “On Accounting” of April 13, 2016 (with subsequent additions and changes).
II. The decrees and orders of the Presidents of the Republic of Uzbekistan
2. Decree of President Islam Karimov of Uzbekistan “On measures on introduction of modern methods of corporate management in joint stock companies” on 24 April 2015.
3. The decision of the President of the Republic of Uzbekistan “On priority directions of further reforming and increasing sustainability of financial-banking system of the republic in 2011-2015 and achieving high international rating indicators.” “Collection of Laws of the Republic of Uzbekistan 2010.”
III. Resolution of the Cabinet of Ministers of the Republic of Uzbekistan and the legal documents of the ministries
4. National Accounting Standards of the Republic of Uzbekistan. Published in the publishing and information center of the National Association of Accountants and Auditors. –Т.:2012.
5. Law of the Republic of Uzbekistan “On Joint-Stock Companies and Protection of Shareholder Rights” of April 26, 1996 (with subsequent amendments and changes).
IV. Textbooks and journals
6. Ball, R., Robin, A., and Wu, J. (2003). Incentives versus standards: properties of accounting income in four East Asian countries and implications for the acceptance of IAS. Journal of Accounting and Economics, 36, 235-270.
7. Brown, P. (2011). “International Financial Reporting Standards: How real are the benefits?” Accounting and Business Research, 41(3), 269-285 p.
8. Choi, F., Frost C., Gary, K. (2002). International Accounting.4th edition. New Jersey: Prentice Hall, 243-296.
9. DeFond, M., Hu, X., Hung, M., and Li, S. (2011). The impact of mandatory IFRS adoption on foreign mutual fund ownership: The role of comparability. Journal of Accounting and Economics, 51(3), 242-256.
10. Deloitte & Touche. (2003). IFRS: Of Growing Importance for US Companies. Retrieved on December 1, 2008.
11. International Business & Economics Research Journal (2010). IFRS Adoption in the EU, Accounting Harmonization And Markets Efficiency: A Review by Gabriele Guggiola, University of Insubria, Varese, Italy Vol. 9, No. 12.
12. Jermakowicz, E. (2004). Effects of Adoption of International Financial Reporting Standards in Belgium: The Evidence from BEL-20 Companies. International Business Research, pp. 198-199.
13. McLeay, S., Neal, D., and Tollington, T., (1999). International Standardization and Harmonization: A New Measurement Technique. Journal of International Financial Management and Accounting, Vol. 10, No. 1, pp. 42-70.
14. Narayan, F.& Reid, B.(2000). Financial Management and Governance Issues in the Republic of Uzbekistan. Asian Development Bank. Retrieved on January 2, 2009.
15. REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC), The Republic of Uzbekistan, ACCOUNTING AND AUDITING, December 2008, made by team from World Bank, 38-76 p.
16. Samir, M. S. (2003). Harmonization of Accounting Standards. Chartered Accountant, ICAI.
17. Shima, K. M., & Gordon, E. A. (2011). IFRS and the regulatory environment: The case of U.S. investor allocation choice. Journal of Accounting and Public Policy, 30(5), 481-500.
18. Turner, L. (2001). Disclosure and Accounting in a Global Market: Looking to the Future. 35-56 p.