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Certain Issues of Making National Financial Statements for Businesses under Legislative Changes


  • Konstyantyn Bezverkhiy

    () ('New-Paris' Ltd.)

  • Tetyana Bochulya

    () (Kharkiv State University of Food Technology and Trade)


The article covers particular aspects of organization and methodology for making financial statements in compliance with the latest changes in legislation caused by adoption of the first national accounting standard. The problems of completing financial statements have been highlighted which is especially significant where there exist contradictions in normative documents regulating requirements to such reporting. The Methodical Recommendations have been analyzed, as to completing the forms of financial statements of national companies, that, according to the legislative bodies, have their aim to clarify particular aspects of making financial statements for businesses in compliance with recent changes in regulatory base. Based on the analysis done, a certain asymmetry of the Methodical Recommendation data have been found when applying them in business practice, which generates further contradictions. Therefore, the authors suggest it may be certified that the changes made to regulatory documents by the Ministry of Finance of Ukraine concerning the issues of accounting regulation in Ukraine, have a sufficient impact on the theory and practice of national businesses accounting.

Suggested Citation

  • Konstyantyn Bezverkhiy & Tetyana Bochulya, 2013. "Certain Issues of Making National Financial Statements for Businesses under Legislative Changes," Accounting and Finance, Institute of Accounting and Finance, issue 3, pages 25-28, September.
  • Handle: RePEc:iaf:journl:y:2013:i:3:p:25-28

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    More about this item


    financial statements; methodical recommendations; accounting methodology; accounting standards; International Financial Reporting Standards;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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