Issue: №9/1, 2019
Introduction. Creating a unified approach to accounting information will allow to harmonize the process of financial reporting, which will provide transparency of reporting and enable users of information to make economic decisions based on reliable and high-quality information; will facilitate the expansion of the business of entities outside the country and their entry into international stock markets and capital markets. Therefore, the study of the role of regulators in reporting of accounting convergence is relevant today. This is the case for the International Accounting Standards Board, as IFRSs are chosen as the basic standards for global accounting harmonization. The purpose of the article is to study the process of convergence of financial statements and to determine the impact of the International Accounting Standards Board on it . Results. The article presents the current state of convergence of national accounting systems and substantiates the need for harmonization of financial reporting. Different approaches to the process of accounting harmonization are compared. The role and tasks of the IASB as a key regulator of convergence have been identified. The history of the IASB formation is investigated and the functional responsibilities of its structural units are summarized. Conclusion. Methods of accounting harmonization are defined, namely: adaptation, unification, convergence or standardization of accounting processes. Generalizing the main differences between them will allow to understand the geopolitical accounting processes and determine the role of accounting in modern realities of doing business. The need to create common global accounting standards implies the functioning of a specific regulator that will enable the financial statements of different countries to be prepared on the basis of common principles and methods. The history of the IASB formation confirms its significant impact on accounting globalization. Defining the functional responsibilities of each structural unit made it possible to formulate its tasks and mission, which are aimed at the convergence of national accounting systems. References 1. Holov S.F. Accounting in Ukraine: analysis of the state and prospects of development: monograph. Kyiv: Center for Educational Literature, 2007. 522 p. (in Ukrainian) 2. Yefimenko V.I. Areas of harmonization of accounting and reporting in Ukraine. Finances, accounting and auditing. 2011. № 18. pp. 278-284 (in Ukrainian) 3. Kuzina R.V. NAS and IFRS: Convergence Analysis. Accounting and Auditing. 2015. № 6. pp. 10–20. (in Russian) 4. Pasko O.V. Global Convergence of Financial Reporting Standards: Status and Perspectives. Accounting & Finance AIC: Accounting Portal. URL: http://magazine.faaf.org.ua/ globalna-konvergenciya-standartiv-finansovoi-zvitnosti-stan-ta-perspektivi.html (in Ukrainian) 5. Pasko O.V. International Accounting Standards Board as a Key Entity in Global Accounting: The Legitimacy Issue. Accounting & Finances of AIC: Accounting Portal. URL: http://magazine.faaf.org.ua/rada-z-mizhnarodnih-standartiv-buhgalterskogo-obliku-yak-klyuchoviy-sub-ekt-globalnogo-upravlinnya-v-sferi-obliku-problema-legitimnosti.html (in Ukrainian) 6. On the national program of adaptation of the legislation of Ukraine to the legislation of the European Union: Law of Ukraine of March 18, 2004 № 1629. The Verkhovna Rada of Ukraine. URL: https://zakon.rada.gov.ua/laws/show/1629-15 (in Ukrainian) 7. Radova O.V. Problems of adaptation of the domestic accounting system to international standards. Economy and society. 2017. № 10. pp. 786-789 (in Ukrainian) 8. Tovkun L.V. International Financial Reporting Stan-dards: Features of Implementation in Ukraine. Legal scientific electronic journal. 2019. № 4. pp. 272-275. (in Ukrainian) 9. Yakoviuk I. Adaptation of Ukrainian legislation to EU legislation: problems of theory and practice. The European Union and Ukraine: Features of Relationships at the Current Stage. Nat. Acad. Law Sciences of Ukraine; State Research Institute buildings and local municipality. Part 1. Kharkiv: Charm. 2012. pp. 5–47. (in Ukrainian) 10. Overview of structure of the IFRS Foundation and IASB. URL: https://www.iasplus.com/en/resources/ifrsf
Keywords : convergence, harmonization, International Accounting Standards Board, International Financial Reporting Standards