ОСОБЛИВОСТІ РОЗКРИТТЯ ІНФОРМАЦІЇ У ФІНАНСОВІЙ ЗВІТНОСТІ ЗА МІЖНАРОДНИМИ СТАНДАРТАМИ

Abstract

In Ukraine, quite a few enterprises prepare reports in accordance with international standards: large enterprises, public joint stock companies, insurance companies, private pension funds, and others. The article provides statistical data on the number of enterprises that are required to prepare reports in accordance with international standards by type and year. The main motivation for the decision to switch to international financial reporting is the need to attract foreign investment in the company's operations. The most expensive assets of such enterprises are usually fixed assets, which are available at each enterprise and, accordingly, depreciated. The start date of depreciation under national and international standards is different. The proposed sequence of actions in recalculating the amount of accrued depreciation of fixed assets as of the date of transition to international standards will allow to reliably assess their carrying amount. The paper describes the peculiarities of preparing notes to the financial statements in accordance with international standards. It is established that the financial statements prepared in accordance with international standards are significantly expanded in relation to the financial statements of Ukrainian enterprises prepared in accordance with NAR(S). The main indicators in the notes to the financial statements prepared in accordance with IFRS of many companies are similar. However, some companies highlight specific features related to their core business. Each analysed company, in addition to the accounting policy, discloses in detail in the notes those accounting items that best characterise its business activities. It was found that some of the analysed companies in their accounting policies for fixed assets do not comply with the minimum terms of their use provided for by the Tax Code of Ukraine, which leads to misstatement of financial statements. From year to year, the number of Ukrainian companies preparing financial statements in accordance with international standards is increasing due to legal requirements or business motives: entering the foreign market, searching for and attracting foreign investors, establishing joint ventures, etc. Financial statements prepared in accordance with IFRS allow for a broader presentation of information about the company's activities, in particular, by using a taxonomy and expanded presentation of information about the company's activities in the notes.