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Original research
METHODOLOGICAL APPROACHES TO ACCOUNTING IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDSPages 67-72 Abstract
This research develops a comprehensive classification of methodological approaches to accounting for business entities, which determine the preparation of financial statements, the manner of presentation, and the nature of the economic information they contain. For each conceptual approach to interpreting the notion and essence of accounting for business entities, the authors identified corresponding methodological approaches. The classification of methodological approaches to accounting for business entities is based on three key criteria: (1) the purpose of accounting, (2) the main areas of business activity subject to accounting and reflected in financial statements, and (3) the type of financial reporting as the principal outcome of accounting. Within the framework of the conceptual managerial approach, one methodological approach focuses on identifying a company’s break-even point and managing financial risks. Another approach is aimed at determining production capacities and operational efficiency. In accordance with the conceptual fiscal approach, a methodological approach has been identified that ensures accurate calculation and timely payment of taxes. Finally, within the conceptual investment approach, one methodological approach is designed to attract foreign investment and provide transparent reporting to investors. Another approach supports and demonstrates progress toward the Sustainable Development Goals (SDGs) and enables the financial measurement of corporate social responsibility outcomes.
Keywords: Accounting, Financial reporting, Methodological approach, IFRS, Sustainable development, Tax reporting, Management reporting.
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Shakhlo T. Ergasheva 
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