Accounting process in the republic of Uzbekistan

Rustam Farmonovich Omanov; Zafar Ikromovich Ruziyev; Nizomjon Muxiddinovich Xolov; Nurbek Rashidovich Murtazaev; Jahongir Jurayevich Oramov; Orziqul Jura Ugli Shoymardonov

doi:10.53730/ijhs.v6nS3.7396

Accounting process in the republic of Uzbekistan

https://doi.org/10.53730/ijhs.v6nS3.7396

Authors

Rustam Farmonovich Omanov Head of department “Finance”, Karshi Engineering Economics Institute, Karshi, Uzbekistan
Zafar Ikromovich Ruziyev Associate professor of department “Finance”, Karshi Engineering Economics Institute, Karshi, Uzbekistan
Nizomjon Muxiddinovich Xolov Head of department “Qashvilyerloyiha”, Karshi, Uzbekistan
Nurbek Rashidovich Murtazaev Senior lecturer of department “Finance”, Karshi Engineering Economics Institute, Karshi, Uzbekistan
Jahongir Jurayevich Oramov Senior lecturer of department “Finance”, Karshi Engineering Economics Institute, Karshi, Uzbekistan
Orziqul Jura Ugli Shoymardonov Senior lecturer of department “Finance”, Karshi Engineering Economics Institute, Karshi, Uzbekistan

Keywords:

procedure for harmonization, accounting standards, financial reporting, accounting system, management accounting

Abstract

Presently for shareholders and other users the financial statements are based on accounting principles and rules that are passed from country to country, in some cases only in one country. Thus, there may be a lack of comparability in the accounting reports. The disadvantage of this situation is that investment analysts and other users who use the financial report have to incur additional costs in the process of analyzing the report because it is structured according to different standards. They may also encounter confusion in the interpretation of reports. As a result of this process, effective competition in the global capital market will deteriorate, and companies will have to bear the high cost of maintaining capital. Most importantly, different amounts of profit for different countries can lead to a loss of confidence in the financial statements.

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References

https://uza.uz/oz/posts/moliyaviy-hisobotning-xalqaro-standartlariga-o-tish-bo-yicha-25-02-2020

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Published

16-05-2022

How to Cite

Omanov, R. F., Ruziyev, Z. I., Xolov, N. M., Murtazaev, N. R., Oramov, J. J., & Shoymardonov, O. J. U. (2022). Accounting process in the republic of Uzbekistan. International Journal of Health Sciences, 6(S3), 6306–6311. https://doi.org/10.53730/ijhs.v6nS3.7396

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Issue

Vol. 6 No. S3 (2022)

Section

Peer Review Articles

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