Future accounting implementation of EU directive in Ukraine

Ruslana Viliivna Kuzina


The article describes the principal accounting Directive 2013/34 / EC of the European Parliament and of the Council of 06.26 2013.  In the framework of the implementation of the Association Agreement between Ukraine and the European Union will be implemented at the national level in accordance with international standards and gradual approximation to EU law in the field of accounting and auditing. The Directive is based on the principle of "first think of a small business. " To avoid improper administrative burden for these companies, EU Member may require from them only minor disclosure in the form of explanations, additional obligatory explanation. A significant reduction in reporting requirements is first necessary to reduce the administrative burden on small and medium enterprises. The desire for comparability of financial performance reporting enables companies to seek additional funding beyond the specific country within the European Union. Thus, the application of the Directive provides an alternative for companies to attract investment without leaving the stock market and not using IFRS. New classification of companies expands the range of companies that can be classified as small and under are exempt from audit. However, there is some concern that if a small business will seek funding and confidence in the reliability of reporting will not. 


Directive 2013/34 / EC of the European Parliament; small and medium enterprises; financial reporting; financial accounting; European Union; accounting

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