IMPROVEMENT OF ACCOUNTING AND REPORTING OF FINANCIAL RESULTS BASED ON INTERNATIONAL STANDARDS
Keywords:
Accounting reform, financial results reporting, IFRS, Uzbekistan, financial transparency, international standards, financial modernization, revenue recognition, investment climate, reporting quality.Abstract
The globalization of financial markets demands that enterprises, regardless of geography, produce transparent, comparable, and credible financial reports. In Uzbekistan, the transition to international financial reporting standards (IFRS) forms a central pillar of economic modernization strategies. This study examines the current status of accounting and reporting of financial results in Uzbekistan, identifies structural barriers to full IFRS integration, and proposes actionable solutions. Empirical data from 135 surveyed enterprises reveal that only 41% fully comply with IFRS principles in financial result reporting, highlighting gaps in revenue recognition, asset impairment reporting, and fair value measurements. Predictive modeling suggests that full IFRS compliance could raise Uzbekistan’s financial transparency index by 25–27% and foreign direct investment inflows by 18–21% within five years. The paper concludes by offering a comprehensive reform roadmap aimed at reinforcing financial reporting reliability, investor confidence, and sustainable economic growth.
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