Accounting reform in Uzbekistan: experience, problems and prospects

The article is devoted to the reform of accounting based on the achievements of the world practice, in particular the international financial reporting standards (IFRS). It sets out the necessity and the main directions of accounting reform. As a result, the comparative study of the fundamental principles of the national accounting and international financial reporting standards revealed major discrepancies. Outlined the main achievements in the integration of the national accounting system in the world community. In conclusion formed recommendations on priority directions of further reforming of accounting based on IFRS.