Implementation of IFRS in electric power companies of Uzbekistan taking into account national peculiarities and specifics energy sector

Abstract

The movement of business towards a global economy has accelerated the need for a transition to global accounting standards. Discusses the differences between IFRS and US GAAP, the need for convergence and harmonization into a single set of global accounting standards. This will lead to a more stable and prosperous world economy and will help solve many of the world's financial reporting problems.

The article describes the difference between the IFRS service and the US GAAP standards, its role and importance in strategy and current oversight..