Open AccessA practical model to implementing IFRS in the national accounting system: The case of Azerbaijan
Author(s) -
Akif Valiyev,
Arif Hüseynov,
Nushaba Gadimli,
Ilham Huseynov,
Abasov Elmar
Publication year - 2021
Publication title -
journal of eastern european and central asian research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.223
H-Index - 5
eISSN - 2328-8280
pISSN - 2328-8272
DOI - 10.15549/jeecar.v8i4.836
Subject(s) - consolidation (business) , accounting , international financial reporting standards , business , balance sheet , national accounts
The purpose of this article is to develop a methodological approach to substantiating the effective consolidation model of national accounting standards (NAS) with International Financial Reporting Standards (IFRS) for Azerbaijan. Using the questionnaire method, the advantages, and obstructions of IFRS implementation in Azerbaijan have been assessed, depending on the practicing models of consolidation of NAS and IFRS. Using fuzzy sets made it possible to determine the levels of development of advantages and obstructions associated with the introduction of IFRS into national accounting practice in Azerbaijan. We determined the most effective model of consolidation of NAS and IFRS for the enterprises of Azerbaijan. The effectiveness of implementing models for the consolidation of NAS and IFRS has been assessed to provide a balance between advantages and destructive factors in the implementation of IFRS.