The Belarus financial reporting system and the need for internationally accepted accountig standards

Abstract

The article presents findings of the study conducted in Belarus. As early as 2008, some Belarus companies started to prepare consolidated financial reports in accordance with International Accounting Standards. The main objectives of this article are to draw lessons learned from the experience of Belarus in implementing IFRS and to discuss the findings with a view to facilitating sharing of experience among countries that are either implementing IFRS or that intend to do so in the coming years.