ACCOUNTING FOR RESERVES: SOME PROBLEMS IN PRACTICE AND THEIR SOLUTIONS

Abstract

Enterprises and organizations in the territory of the Republic of Uzbekistan are gradually moving to international financial reporting standards.The process of implementing international financial reporting standards poses a number of unique challenges and puzzles.The article highlights one of these problematic situations, some problems that have arisen in the practice of accounting for reserves and ways to solve them.Especially in practice, due to the fact that most accountants are not familiar with international financial reporting standards, national standards are not used in practice, it becomes difficult to organize accounting of reserves at enterprises.In this matter, the author’s opinion on improving the qualifications of accountants and auditors in public organizations and their local branches is of great importance.