The usage of International Accounting Standards by Ukrainian construction enterprises: advantages and disadvantages

Abstract

Abstract. Ukraine regulates the list of entities for which compilation of financial statements and consolidated financial statements according to international standards is mandatory1 . These include companies of public interest, public joint stock companies, enterprises engaged in mining activities of national importance, as well as enterprises that carry out economic activities by types, the list of which is determined by the Cabinet of Ministers of Ukraine. The listed enterprises under this document are obliged to ensure accounting in accordance with the accounting policy according to international standards. All others have the opportunity to independently determine the feasibility of using international standards. A significant number of Ukrainian construction companies are established and actively functioning as public joint-stock companies, which is confirmed by the data of the application, and is of public interest.