INTERNATIONAL FINANCIAL REPORTING STANDARDS AS A BASIS FOR STRATEGIC ENTERPRISE MANAGEMENT
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Abstract
In the modern globalized economy, the transparency, comparability, and reliability of financial information have become critical factors influencing the competitiveness and sustainability of enterprises. International Financial Reporting Standards (IFRS) serve as a globally recognized framework for the preparation and presentation of financial statements, ensuring consistency across jurisdictions and facilitating informed decision-making by stakeholders. For enterprises operating in Ukraine, the adoption and implementation of IFRS are not merely a matter of regulatory compliance but also a strategic tool that strengthens corporate governance, enhances investment attractiveness, and supports effective resource allocation. By aligning financial reporting practices with international norms, Ukrainian companies can improve the quality of management decisions, as reliable financial data form the basis for strategic planning, performance evaluation, and risk management. Moreover, the integration of IFRS into corporate accounting systems fosters a unified financial language that bridges the gap between domestic enterprises and the global business environment. This harmonization enables management to respond promptly to market challenges, attract foreign capital, and pursue sustainable growth strategies. In this context, IFRS is not only an accounting standard but also a foundation for strategic enterprise management, shaping the long-term trajectory of organizational development.
The analysis reveals that the integration of IFRS into the accounting and reporting systems of Ukrainian enterprises contributes to improved transparency, reliability, and comparability of financial statements. This, in turn, facilitates more informed strategic decisions, optimizes resource allocation, and strengthens the trust of investors and other stakeholders. Furthermore, IFRS implementation enhances enterprises’ adaptability to changing market conditions and fosters greater alignment with global business practices. The originality of this study lies in its focus on IFRS not only as a regulatory requirement but as a strategic management instrument. The research highlights the interplay between standardized financial reporting and strategic decision-making processes, offering a comprehensive view of IFRS as a catalyst for long-term enterprise development in Ukraine.
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