Home  Journals  International Accounting  2(134) - 2010 February

Problems of transformation of Financial statements according to IFRS in the agricultural sector

Available online: 19 February 2010

Subject Heading: REPORTING REFORMING

JEL Classification: 

The importance of problems of harmonization and standardization of financial reporting on the international level does not have to be proved. Nowadays the users put high demands on the preparation of financial reports and their comparability to the reports prepared by other companies. The present work reveals the difficulties of the transition to the practice of financial reporting according to IFRS, presents the methods of transformation of financial statements, points out the main problems of transition to IFRS for agricultural enterprises. The authors come to the conclusion that financial reporting in accordance with IFRS is essential for agro-industrial complexes in order to get access to the international capital and attract foreign investors.

Keywords: IFRS, RAS, transformation, agricultural sector, agro-industrial complex, international financial accounting, financial reporting, harmonization, standardization

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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