PROBLEMS OF REFORMING ACCOUNTING AND FINANCIAL REPORTING IN POST-SOVIET COUNTRIES (Case of Georgia)
PROBLEMS OF REFORMING ACCOUNTING AND FINANCIAL REPORTING IN POST-SOVIET COUNTRIES (Case of Georgia)
Author(s): Levan Grigalashvili, Bidzina GrigalashviliSubject(s): Business Economy / Management, Economic history, Economic policy, Financial Markets, Accounting - Business Administration
Published by: Asociaţia de Cooperare Cultural-Educaţională Suceava
Keywords: Accounting; financial reporting; international standards; reformation; accounting policy;
Summary/Abstract: Like in the entire post-Soviet space, at the end of the last century, the change in the economic and political system caused the necessity of the reforms in all spheres of public life in Georgia. Even in the first years of the transition period to a market economy, there was revealed the vital importance of accounting and financial reporting for the correct management of the economic activities of companies. There was a need to create an appropriate accounting and reporting system for a market economy. Post-Soviet countries which are currently independent states, met these processes unprepared. They faced two major challenges: first, they had to create a national legal regulatory framework for accounting, and second, they had to transform the system in accordance with the requirements of the market economy.
Journal: Ecoforum
- Issue Year: 10/2021
- Issue No: 3
- Page Range: 0-0
- Page Count: 4
- Language: English