Comparative Analysis of National and International Standards for Accounts Receivable Accounting: The Experience of Ukraine and Foreign Countries

Abstract

The article explores the theoretical and practical aspects of the recognition, measurement, and presentation of accounts receivable in the accounting system under National Accounting Standards and International Financial Reporting Standards. It reveals the differences in the interpretation of the term "accounts receivable." The study determines that the concept of accounts receivable combines both economic and legal components: on the one hand, it is the right of an organization to obtain future economic benefits, and on the other, it is a liability of partners based on contractual relationships. A comparative analysis of the recognition, measurement, and presentation of accounts receivable in the accounting system made it possible to establish that the application of national accounting standards is characterized by a simpler approach compared to international norms. Under national standards, accounts receivable are recognized and measured at initial cost, and at the balance sheet date, at net realizable value, which is with an allowance for doubtful accounts. IFRS, however, is based on an expected credit loss model that takes into account forecast risks and economic conditions. The study identifies key problems in the field of accounting: the formal nature of creating allowances for doubtful accounts, the difficulty of implementing international requirements due to limited information bases, and the need for highly professional training of specialists.  The necessity of harmonizing national standards with international ones, developing the infrastructure for collecting data on the payment discipline of counterparties, and using digital technologies for risk management is substantiated. The results can be used to improve the reliability of financial reporting, enhance accounting practices, and strengthen the competitiveness of Ukrainian enterprises in the international business environment.