Requirements to accounting (financial) reporting in modern conditions

Modern economic realities determine the purpose of the financial statements as a means of communication between economic subjects in the language of accounting. Constantly evolving economic environment, leading to changes in the nature and direction of information needs and requests users of financial statements, require periodic review of principles and requirements to the information contained therein. This work reveals the role and importance of financial reporting for internal and external users, and also defines the basic principles and requirements that must be met by financial statements in the current conditions.