Keywords
modernization of accounting
accounting reporting
international accounting standards
adaptation of the national accounting system
tax accounting
transparency of financial reporting
European standards
How to Cite
Abstract
In Ukraine, a large-scale process of modernization of the accounting system and financial reporting in the public sector is underway, which takes into account the requirements of international standards, in particular with an orientation towards European integration obligations. The relevance of the study is due to the need to adapt the national accounting system to European standards and principles, including the organization of tax accounting and reporting. The study summarizes the problems of adapting the national accounting system to the conditions of European integration. Martial law, as an emergency, significantly affects the economy of the country and the enterprise, which is reflected in accounting. Recognition of extraordinary events has a significant impact on the reflection of performance results and financial condition in financial statements, in particular on the adjustment of events after the reporting period, assessment of the going concern principle, and presentation of financial statements that adjust reforms within the framework of European integration. The purpose of the study is to determine the ability of the national accounting system to provide reliable information on the financial and economic situation of the enterprise in the context of the European integration processes of Ukraine. In addition, the purpose is to analyze the possibility of the accounting methodology of institutional sectors of the economy to ensure the formation of the necessary information during martial law. Attention is also focused on the need to continue reforms in the field of accounting. The results of the study contain a systematization of the main areas of reform and the results of the modernization of the public finance management system in Ukraine, with a focus on increasing transparency and adaptation to European integration requirements. Key problems and challenges that require improvement and systematization of the main strategic documents in this direction are identified. The conclusions indicate that the implementation of the Strategy for Modernizing Accounting and Financial Reporting in the Public Sector will contribute to the adaptation of legislation to international accounting and reporting standards, increasing the reliability and transparency of financial reporting, which is a necessary condition for ensuring effective management of public finances in Ukraine.
References
1. Yevsieieva, O. O., Ivanova, N. A., & Skorba, O. A. (2024). Vplyv tsyfrovykh innovatsii na efektyvnist bukhhalterskoho obliku v Ukraini [The impact of digital innovations on the efficiency of accounting in Ukraine]. Aktualni Pytannia Ekonomichnykh Nauk – Current Issues of Economic Sciences, (1). https://doi.org/10.5281/zenodo.13296464 (in Ukrainian)
2. Liubymov, M. O., Pedchenko, N. S., Artiukh-Pasiuta, O. V., Milka, A. I., & Prokhar, N. V. (2022). Rozvytok orhanizatsii bukhhalterskoho obliku v Ukraini v suchasnykh umovakh [Development of accounting organization in Ukraine in modern conditions]. Naukovyi visnyk Poltavskoho universytetu ekonomiky i torhivli – Scientific Bulletin of Poltava University of Economics and Trade, 2(106), 42–47. https://doi.org/10.37734/2409-6873-2022-2-6 (in Ukrainian)
3. Danilov, O. (2024). Podatkovi zminy v konteksti yevrointehratsiinykh protsesiv Ukrainy ta yikh vplyv na bukhhalterskyi oblik [Tax changes in the context of Ukraine’s European integration processes and their impact on accounting]. Ekonomika ta suspilstvo – Economy and Society, (61). https://doi.org/10.32782/2524-0072/2024-61-60 (in Ukrainian)
4. Lovinska, L. H. (2022). Bukhhalterskyi oblik ta finansova zvitnist v umovakh voiennoho stanu v Ukraini [Accounting and financial reporting under martial law in Ukraine]. Finansy Ukrainy – Finance of Ukraine, (4), 92–106. https://ir.kneu.edu.ua:443/handle/2010/38292 (in Ukrainian)
5. Marushchak, O.A. (2024). Aktualni pytannia harmonizatsii podatkovoho zakonodavstva Ukrainy do vymoh Yevropeiskoho Soiuzu [Current issues of harmonization of tax legislation of Ukraine with the requirements of the European Union]. Analitychno-porivnialne pravoznavstvo – Analytical and Comparative Law, (6), 605–510. https://doi.org/10.24144/2788-6018.2024.06.99 (in Ukrainian)
6. Verkhovna Rada of Ukraine. (2015, February 11). Zakon Ukrainy “Pro vidkrytist vykorystannia publichnykh koshtiv” [Law of Ukraine “On openness of the use of public funds”] (No. 183-VIII). https://zakon.rada.gov.ua/laws/show/183-19#Text (in Ukrainian)
7. Cabinet of Ministers of Ukraine. (2015, May 27). Rozporiadzhennia Kabinetu Ministriv Ukrainy “Pro skhvalennia Stratehii pidvyshchennia efektyvnosti derzhavnoho sektoru ekonomiky” [Order of the Cabinet of Ministers of Ukraine “On the approval of the Strategy for improving the efficiency of the state sector of the economy”] (No. 666-r). https://zakon.rada.gov.ua/laws/show/666-2015-р#Text (in Ukrainian)
8. Cabinet of Ministers of Ukraine. (2007, January 16). Postanova Kabinetu Ministriv Ukrainy “Pro skhvalennia Stratehii modernizatsii bukhhalterskoho obliku v derzhavnomu sektori na 2007–2015 roky” [Order of the Cabinet of Ministers of Ukraine “On the approval of the Strategy for modernizing accounting in the public sector for 2007–2015”] (No. 34). https://zakon.rada.gov.ua/laws/show/34-2007-п#Text (in Ukrainian)
9. Cabinet of Ministers of Ukraine. (2020, December 2). Rozporiadzhennia Kabinetu Ministriv Ukrainy “Pro skhvalennia Stratehii modernizatsii systemy bukhhalterskoho obliku v derzhavnomu sektori na 2021–2025 roky” [Order of the Cabinet of Ministers of Ukraine “On the approval of the Strategy for the modernization of the accounting system in the public sector for 2021–2025”] (No. 1584-r). https://zakon.rada.gov.ua/laws/show/1584-2020-р#Text (in Ukrainian)
10. Cabinet of Ministers of Ukraine. (2022, March 2). Rozporiadzhennia Kabinetu Ministriv Ukrainy “Pro skhvalennia Stratehii rozvytku systemy upravlinnia derzhavnymy finansamy na 2022–2025 roky” [Order of the Cabinet of Ministers of Ukraine “On approval of the Strategy for development of the public finance management system for 2022–2025”] (No. 220-r). https://zakon.rada.gov.ua/laws/show/220-2022-р#Text (in Ukrainian)
11. Verkhovna Rada of Ukraine. (2014, September 16). Uhoda pro asotsiatsiiu mizh Ukrainoiu, z odniiei storony, ta Yevropeiskym Soiuzom, Yevropeiskym spivtovarynstvom z atomnoi enerhii i yikhniamy derzhavamy-chlenamy, z inshoii storony [Agreement on association between Ukraine, of the one part, and the European Union, the European Atomic Energy Community and their Member States, of the other part] (Law No. 1678-VII). https://zakon.rada.gov.ua/laws/show/984_011#Text (in Ukrainian)
12. World Bank. (2019). Public expenditure and financial accountability (PEFA): Ukraine assessment report 2019. https://www.pefa.org
13. Verkhovna Rada of Ukraine. (2022, March 15). Zakon Ukrainy “Pro zakhyst interesiv subiektiv podannia zvitnosti ta inshykh dokumentiv u period dii voiennoho stanu abo stanu viiny” [Law of Ukraine “On protection of interests of subjects submitting reports and other documents during martial law or wartime”] (No. 2115-IX). https://zakon.rada.gov.ua/laws/show/2115-20#Text (in Ukrainian)
14. Official Journal of the European Union. (2012). Dohovir pro funktsionuvannia Yevropeiskoho Soiuzu (konsolidovana versiya) [Treaty on the Functioning of the European Union (consolidated version)]. https://eur-lex.europa.eu/legal-content/UK/TXT/?uri=CELEX%3A12012E%2FTXT
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Copyright (c) 2025 Tetiana Kladnytska, Valentyna Borkovska, Tetiana Kovalova