Development of Financial Statements on the Basis of International Financial Reporting Standards

Abstract

This article is devoted to the consideration of the theoretical and practical aspects of financial statements developed by economic entities based on international financial reporting standards (IFRS). In addition, the article highlights possibilities of financial statements in the implementation of the investment policy of the digital economy are highlighted. Moreover, various aspects of financial statements prepared according to national accounting standards (NAS) and international financial reporting standards, as well as the ways for their preparation are demonstrated.As a result of the research, the author has developed proposals and recommendations on the financial reporting forms based on international standards.