Harmonization and Standardization of Accounting as a Means of Ensuring Sustainable Development in the Conditions of Globalization
(Pages 77-85)Iryna Shevchenko1,*, Valentyna Panasyuk2, Alla Uzhva3, Natalia Lagodiienko4, Oksana Pysarchuk5, Dmytro Krasnikov6
1Department management and business administration, National Aerospace University «Kharkiv Aviation Institute», 17 Chkalova str., Kharkiv, 61000, Ukraine.
2Department of Accounting and Taxation, West Ukrainian National University, 11 Lvivska Str., Ternopil, 46009, Ukraine.
3Department of Accounting and Audit,Petro Mohyla Black Sea National University, Building No. 1, 68 Desantnykiv Street, 10, Mykolaiv, Ukraine.
4Department of Accounting and Auditing, Mykolaiv National Agrarian University, 9 Georgiy Gongadze street, Mykolaiv, Ukraine.
5Department of Accounting and Business Consulting, Simon Kuznets Kharkiv National University of Economics, Nauky 9a av., Kharkiv, Ukraine.
6Department of Accounting and Taxation, West Ukrainian National University, 11 Lvivska Str., Ternopil, 46009, Ukraine.
DOI: https://doi.org/10.55365/1923.x2024.22.9
Abstract:
In the realm of international integration, as evidenced by Ukraine's experience, the vital element for the successful evolution of the accounting system is harmonization and standardization. These processes are essential prerequisites for broader economic reform, especially within the accounting domain. The development of Ukraine's accounting system has progressed along various dimensions. Harmonization and standardization necessitate continuous monitoring and reporting by government financial institutions on the effective implementation of IFRS in Ukraine. In a study focusing on the harmonization and standardization of accounting within the context of sustainable development, the authors delved into the theoretical foundations, analyzing contemporary sources. The article establishes the definition of standardization, identifies approaches to the definition of harmonization and standardization, and presents both general and independent perspectives on these concepts. Historical and institutional approaches were employed to study the issues of harmonization and standardization in accounting. Through empirical research, utilizing scientific methods like induction, grouping, and comparison, the authors constructed a matrix of challenging issues related to harmonization and standardization in accounting, drawing insights from the experiences of other countries. The study outlines the prospects for accounting development in Ukraine, introducing a system of harmonization and standardization aligned with sustainable development. This open system considers external and internal influences, including the human factor and economic environment. The study outlines the essential components of harmonization and standardization: organizational support, theoretical foundations, and practical tools. The proposed system incorporates sustainable development into Ukraine's accounting reporting framework, underscoring the critical role of human resources in accounting success.
Keywords:
Accounting System, Globalization, Harmonization, International Integration, Standardization, Sustainable Development.
JEL Codes:
А 10, E 10, G 10.
How to Cite:
Iryna Shevchenko, Valentyna Panasyuk, Alla Uzhva, Natalia Lagodiienko, Oksana Pysarchuk, Dmytro Krasnikov. Harmonization and Standardization of Accounting as a Means of Ensuring Sustainable Development in the Conditions of Globalization. [ref]: vol.22.2024. available at: https://refpress.org/ref-vol22-a9/
Licensee REF Press This is an open access article licensed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.