MANAGERIAL ASPECTS OF INTERNATIONAL FINANCIAL REPORTING STANDARDS AND THEIR ROLE IN THE FORMATION OF MANAGEMENT REPORTING

Abstract

In today's environment, International Financial Reporting Standards (IFRS) have become not only a tool for external communication with investors and creditors, but also a foundation for building modern management accounting systems. Paradoxically, the accounting system, originally designed for the purpose of transparency and comparability of financial information for external users, is increasingly being applied in internal management processes. In modern practice, IFRS are increasingly being viewed not only as the "language" of external financial reporting, but also as an element of management infrastructure that establishes uniform rules for describing economic events and their financial consequences. The managerial significance of IFRS is manifested, firstly, in improving the quality of information for decision-making, secondly, in strengthening the discipline of corporate management through transparency and comparability of indicators, and thirdly, in creating a unified methodological framework for multidisciplinary and international groups of companies. The paper consistently reveals the managerial aspects of IFRS, defines the features of the formation of managerial reporting based on the principles and requirements of the standards, and substantiates IFRS accounting as a methodological basis for building managerial reporting and the corresponding accounting and analytical system of the organization.