Issues of Formation of Financial Statements in Small Business and Private Entrepreneurship Subjects According to IFRS

Abstract

the article discusses the features of accounting in the transition of small organizations to the IFRS. Today, the development of accounting in accordance with the International Accounting Standard is an important factor for the successful development of small business. Small business financing is not widespread enough and is not interesting for investors, because large and medium-sized businesses are more attractive to receive dividends in the short term, which does not work in favor of small businesses, where profit is possible only after a long time. One of the opportunities for the development of small business in Uzbekistan is the possibility of applying international financing, international tenders and obtaining loans. At the same time, one of the important conditions of financing is compliance of financial statements of organizations with international standards.