International Standards and National Specifics of Accounting in Foreign Countries

Abstract

The article studies the factors influencing national accounting systems and their formation. National accounting systems are the result of the interaction of economic, political, cultural, historical and other equally important factors. They are formed taking into account national needs and conditions, reflecting unique methods of accounting, financial reporting and regulation of accounting processes. The purpose is to identify the main factors and factors that influence the formation of national accounting systems. The study uses the methods of analysis and synthesis of scientific sources, comparative analysis of accounting principles and financial statements of different countries, as well as the methodology for adapting international standards to national conditions, and considers aspects of standardization and harmonization of accounting in accordance with international standards and norms. The study found that national accounting systems are determined by a set of internal and external factors, such as legal regulation, economic situation, cultural and social characteristics, level of capital market development and the influence of international standards. International Financial Reporting Standards contribute to the globalization of the economy by ensuring the unification of reporting principles and increasing the transparency of financial information. The flexibility of national systems allows them to adapt to modern challenges, which ensures sustainability and competitiveness in international markets. The relevance of studying the factors influencing the construction of national accounting systems is driven by the need to understand and adapt accounting practices to the conditions of the modern globalized economic environment. Analyzing these factors is important for developing strategies aimed at improving the transparency of financial reporting, increasing investor confidence and ensuring the stability of economic development for each country.