Transformation of Ukrainian financial statements in accordance with international financial reporting standards is the first, very important and mandatory step towards the transition to IFRS.

This is due to the fact that even in the transition to parallel accounting in accordance with IFRS, it is necessary at least once to carry out the transformation of reporting to obtain the initial test balance and forms of financial reporting provided by international standards.

During the transformation, where necessary, adjustments are made to eliminate the identified differences between IFRS and the current Ukrainian accounting system.

IFRS