This article talks about the relevance and importance of transition to international financial reporting standards (IFRS) in Uzbekistan today in the process of integration of the world economy. Also, the issues of harmonizing the financial reports prepared on the basis of NAS in accordance with the IFRS, and steps to transform them were mentioned. The differences between national standards and international financial reporting standards are also analyzed.

The prospects of economic cooperation between the countries of Central Asia, including Uzbekistan and Kazakhstan, in the expansion of cooperation in the areas of Commodity Exchange, joint ventures, volume of cargo transportation, large-scale cooperative settlements, tourism, industry, energy and agriculture, points have been made to ensure the mutual integration of accounting and financial statements between the countries. Also, in the Coordination of accounting and financial statements in our country with international standards, practical work on ensuring the implementation of the tasks set out in the decision of PQ-4611 "on additional measures for the transition to international standards of financial reporting", scientific conclusions on interrelated and different aspects of the accounting system are formed between Uzbekistan and Kazakhstan.

The topic of this paper focuses on the comparison of fixed asset accounting under International Financial Reporting Standards (IFRS) and National Accounting Standards (NAS). Fixed assets are the most important long-term assets that play a key role in the financial position of an organisation. The study examines the main differences in the approaches to recognition, measurement, depreciation and asset retirement accounting between the two systems. Particular attention is paid to the revaluation of fixed assets, depreciation methods, and approaches to accounting for repair and modernisation costs. The paper analyses how different standards affect financial reporting and management decision making, and what key aspects should be considered when moving from one accounting system to another. The study focuses on analysing the flexibility of IFRS and the limitations of NAS, which is important for accountants, financial professionals and managers working in different legal and economic environments.

In the article, one of the important funds in the economic activity of enterprises aimed at ensuring the implementation of the decision of the President of the Republic of Uzbekistan No. 4611 dated February 24, 2020 "On additional measures for the transition to international standards of financial reporting" is to organize the calculation of inventories based on the requirements of international standards of financial reporting issues are covered in detail. In particular, scientific proposals and practical recommendations have been formed in order to methodologically harmonize the provisions of the national standard of the current BHMS No. 4 "Commodity reserves" with international standards.

The article explores the theoretical and practical aspects of the institutional characteristics of financial accountability and transparency. It examines the reforms implemented in Uzbekistan aimed at modernizing the public financial management system, enhancing budget process openness, and gradually adopting international financial reporting standards. Based on international experience (Finland, Canada, South Korea, Australia, Sweden), the study highlights the key factors that ensure effective financial accountability and transparency: real-time data disclosure, institutionally independent auditing, and the use of digital technologies. Uzbekistan’s PEFA scores and Open Budget Index results are analyzed, identifying existing challenges and suggesting policy directions for improvement. The findings demonstrate that strengthening national legislation, adopting internationally standardized reporting formats, expanding public participation, and introducing modern digital technologies are crucial for consolidating the institutional foundation of financial accountability and transparency

This article highlights the theoretical and practical aspects of maintaining a separate accounting policy in economic sectors, its adaptation to international and national standards, and the importance of sector-specific approaches. The processes of reforming the accounting and financial reporting system in the Republic of Uzbekistan, in particular the gradual implementation of IFRS standards, are analyzed. The study examines the specific features, challenges, and opportunities of accounting policies in agriculture, industry, services, and the banking-finance sector. International and national practices are compared, and methodological recommendations tailored to the sector are developed.

This article analyzes the accounting of expenses in commercial organizations during the transition to International Financial Reporting Standards (IFRS), existing problems, and ways to improve them based on the IMRAD structure. During the study, the differences in the classification, recognition, and reporting of costs were highlighted, and proposals were made to adapt the national accounting system to IFRS.

The article discusses the issues of methodological and organizational improvement of fixed asset accounting. In particular, the article deals with the criteria for recognizing fixed assets based on the National Accounting Standards and IFRS, the entry, classification, disposal of fixed assets, and the correct presentation of information about fixed assets in financial statements.