• Lubomira Kindratska


international accounting, transformation, modernization of the accounting system, address information, the theory of accounting


The article is devoted to the author's views on the place and role of international accounting in the modern economic system of the country. It is noted that at any stage of evolution there will be a kind of problem niches that can and should be filled, especially in the theory of accounting. The issue of the possibility of working out accounting procedures in international accounting with the help of IFRS is considered. Emphasis is placed on the importance of targeted information, which can manifest itself in two main forms: semantic and pragmatic. IFRS is recognized as a target for improving accounting practices in terms of fair presentation of information in a comprehensible form.
It is noted that the requirements for financial reporting change as society's demands grow. The dynamism of society subordinates the development of financial reporting to changes in economic relations between business entities, which requires targeted and reliable information. The concept of stakeholders and the theory of stakeholders, which emphasize the interdependence of business entities and users of financial reporting, that is an important component of business success, have been recognized as a modern direction in the development of financial reporting.
It is recommended to recognize financial reporting as an object of institutional analysis, that develops in the context of intensifying social phenomena and institutions, which confirms the need for quality information to users in the process of providing them with relevant financial and nonfinancial information.
It is noted that there is no reason to compare the recommendations of IFRS and practical methods of international accounting, the creation of which is a priori impossible. The article proves that it is not the time for actualization of the international accounting issue.