IMPLEMENTATION STRATEGY AND PRACTICAL APPROACHES FOR INTRODUCING THE CHART OF ACCOUNTS IN COMMERCIAL BANKS BASED ON IFRS REQUIREMENTS
Keywords:
International Financial Reporting Standards (IFRS), commercial banks, implementation of the chart of accounts, financial transparency, international experience, information technologies, staff training, modernization of the banking system.Abstract
This article thoroughly examines the significance, strategy, and practical approaches to implementing the chart of accounts in commercial banks based on International Financial Reporting Standards (IFRS). Challenges faced by banks during the process of aligning with international standards and recommendations for addressing these issues are discussed. Key directions, such as leveraging international experiences, enhancing staff qualifications, and modernizing information technologies, are outlined. The article focuses on analyzing the advantages and expected outcomes of implementing international standards in the banking system.
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