Abstract:

In this article has been examined the evolution of IFRS in the context of digitalization of the Uzbekistan economy for its implementation in international economic processes. To expand the use of financial statements prepared in accordance with international financial reporting standards, it is necessary to digitize the financial and non-financial indicators contained in the statements. The study identified the advantages and disadvantages of using the XBRL standard when preparing financial statements under IFRS. The XBRL standard allows you to obtain financial and non-financial information about the reporting company in various sections. The preparation of financial statements presented in accordance with IFRS using the XBRL standard changes the transparency and openness of accounting data according to international financial reporting standards and brings them closer to global standards of digitalization language. The use of the XBRL standard significantly reduces the time it takes to prepare financial statements and eliminates the inconsistency of metadata, but in the near future it is not able to replace the professional judgment of a qualified accountant. The article proposes a unified digital data model, including the XBRL format, which allows for data taxonomy and standardization of financial indicators of different companies. To fully implement the XBRL format when preparing financial statements under IFRS, it is necessary to certify domestic software developers who are able to ensure a secure process for collecting, processing and transmitting company data through digital channels.

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