Application and Implementation of IAS 16 in Business Entities in the Republic of Uzbekistan
Keywords:
IAS 16. Property, Plant, and Equipment (PPE), Uzbekistan, IFRS adoption, Asset valuation, Depreciation, Financial reporting, Regulatory reforms, Institutional challenges, Banking sector, Telecommunications sectorAbstract
The article explores the adoption of IAS 16, "Property, Plant, and Equipment," in Uzbekistan, focusing on the legal, technical, and institutional challenges faced during the implementation process. It highlights the regulatory reforms and government support that have facilitated the transition towards International Financial Reporting Standards (IFRS). The article also examines the impact of IAS 16 adoption across various sectors, including banking, telecommunications, manufacturing, and agriculture. Through a detailed analysis, the article provides insights into the benefits and future outlook of IAS 16 implementation in Uzbekistan, emphasizing the importance of financial transparency and improved asset management.
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