Features of financial reporting by small enterprises and microenterprises: Ukrainian and international experience

The study aimed to substantiate the theoretical and applied foundations for the improvement of financial reporting by small and micro-enterprises in Ukraine, considering international experience and the digital transformation of accounting processes. The methodological basis consisted of comparative and content analysis, generalisation of practices for presenting data in the extensible business reporting language format, and observation. The empirical base was formed based on official analytical and statistical reports. The obtained results identified key differences between the requirements of national accounting standards and international standards for small enterprises in terms of the composition of reporting, principles of asset and liability valuation, and disclosure of information. The study determined that the introduction of digital reporting formats and the harmonisation of methodological approaches increase the comparability and reliability of data, reduce the time needed to prepare reports, and lower the risk of arithmetic and classification errors. The study proved that the use of integrated information systems, in particular enterprise resource planning systems and cloud platforms, contributes to the formation of a single information space between accounting, tax and analytical subsystems. As a result, a structured model of the relationship between the digital level of reporting and the quality of financial data has been developed, as well as recommendations for harmonising the Ukrainian financial reporting system with European standards. The proposed model includes harmonisation of reporting formats, stricter requirements for explanatory notes and disclosure of information, and the introduction of internal control procedures to ensure comparability and transparency. The research materials can be used in the development of state strategies for modernising financial reporting, improving tax policy and increasing the investment attractiveness of Ukrainian enterprises in the process of integration into the European economic space