Harmonization of Belarus accounting GAAP with ifrs and US GAAP

Abstract

The paper 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. This study presents the integration of internationally accepted accounting standards into Generally Accepted Accounting Standards in Belarus, capacity-building and technical implementation issues. The main objectives of this study 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.