A practical model to implementing IFRS in the national accounting system: The case of Azerbaijan

Authors

  • Akif Valiyev Agricultural Economics Research Center
  • Arif Huseynov Azerbaijan State Oil and Industry University
  • Nushaba Gadimli Mingachevir State University
  • Ilham Huseynov Azerbaijan State University of Economics
  • Abasov Elmar Azerbaijan State University of Economics

DOI:

https://doi.org/10.15549/jeecar.v8i4.836

Keywords:

IFRS, NAS, Azerbaijan, consolidation model, business entities, transformation

Abstract

The purpose of this article is to develop a methodological approach to substantiating the effective consolidation model of national accounting standards (NAS) with International Financial Reporting Standards (IFRS) for Azerbaijan. Using the questionnaire method, the advantages, and obstructions of IFRS implementation in Azerbaijan have been assessed, depending on the practicing models of consolidation of NAS and IFRS. Using fuzzy sets made it possible to determine the levels of development of advantages and obstructions associated with the introduction of IFRS into national accounting practice in Azerbaijan. We determined the most effective model of consolidation of NAS and IFRS for the enterprises of Azerbaijan. The effectiveness of implementing models for the consolidation of NAS and IFRS has been assessed to provide a balance between advantages and destructive factors in the implementation of IFRS.

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Published

2021-12-15

How to Cite

Valiyev, A., Huseynov, A., Gadimli, N., Huseynov, I., & Elmar, A. (2021). A practical model to implementing IFRS in the national accounting system: The case of Azerbaijan. Journal of Eastern European and Central Asian Research (JEECAR), 8(4), 585–598. https://doi.org/10.15549/jeecar.v8i4.836