THE IMPORTANCE AND ADVANTAGES OF TRANSITIONING TO INTERNATIONAL FINANCIAL REPORTING STANDARDS IN THE REPUBLIC OF UZBEKISTAN

This article outlines in detail the advantages and importance of international financial reporting standards, their content, objectives, assessment of the impact of international financial reporting standards on the accounting system of Uzbekistan and the comprehensive measures being taken to effectively improve it, and also highlights the effective organization based on the analysis of the comprehensive use of these standards in practice and the latest measures implemented in the territory of the Republic of Uzbekistan for the transition to international financial reporting standards.