ACCOUNTING AND METHODOLOGICAL TOOLS OF FINANCIAL STATEMENTS TRANSFORMATION INTO THE IFRS-FORMATJournal: University Economic Bulletin. Collection of scientific articles of scientists and post-graduate students (Vol.1, No. 27)
Publication Date: 2015-10-10
Authors : Kharlamova Olena;
Page : 66-72
Keywords : NP(S)A; IFRS; financial statements; transformation; transformational corrections; transformation rules;
Processes of financial statements transformation into the IFRS format are the object of the research and accounting and methodological tools of these processes are the subject of the research. The purpose of this research is clarification and development of elements of the accounting and methodological tools of financial statements transformation into the IFRS format. The research purpose achievement and the targets performance were carried out by methods of the IFRS and the IAS context analysis as well as by modeling and comparison. As a result of the work there were developed analytical schedules for accounts analysis, transformational corrections statement, transformation schedules for static and dynamic accounts, schedule of retained profit reconciliation as well as profit and losses adjustment, own capital under the preliminary NP(S)A with profit and losses, own capital under the IFRS being practical tools of transformation of financial statements prepared under the NP(S)A into financial statements under the IFRS. Field of the results application: all companies of Ukraine compulsorily or voluntarily preparing statements under the IFRS using transformation method. The research results allow making a conclusion that transformation is the most common method of the first statements preparation under the IFRS. Use of the proposed accounting and methodological tools is an integral part of the transformation process. Reasonable rule of transformation concerning transformational corrections direct dependence on surplus (flows) requested by the IFRS and not the reverse shall become a reference point for drafters of the first statements under the IFRS.
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