Impact Of The World Economy Globalization On National Accounting Systems

Abstract

The paper argues the external pressure of the economy globalization on the accounting methodology, which led to irreversible qualitative changes of standards for the provision of information, made the IFRS a mandatory element of the world information system. It is justified that the globalization of the modern economy imposed special requirements on national accounting systems. Public non-profit organizations seeking to become the participants in the global trading platform are forced to decide on the advisability of adopting the IFRS rules. This cannot but have a certain impact on national accounting in different countries. The paper proposes the study of the impact of globalization of the economy on the development of modern accounting. There are positive factors and risks of such influence that will permanently change the quality of the accounting system and have already posed modern countries with the choice of switching or abandoning the transition to the IFRS. The consequences of globalization, including for Russia, were identified, which changed not only the methods of summarizing accounting information, but also the very attitude to the accounting reports of its consumers. The study concluded that all effects of the economy globalization led to a positive change in the quality of the accounting system for those countries that became the participants in the global trading platform. However, to maintain this quality, it is necessary to improve the accounting process not only at the state level, but also at the level of educational institutions and professional communities of accountants.