Issues and Solutions in Applying International Standards for Accounting Cash and Cash Equivalents in Uzbekistan

Eshonqulov Akmal  Qudratovich

doi:10.47494/mesb.v35i.1759

(1) Eshonqulov Akmal Qudratovich Assistant of the Department of Accounting Samarkand Institute of Economics and Service
Uzbekistan
(*) Corresponding Author

DOI:

https://doi.org/10.47494/mesb.v35i.1759

Keywords:

accounting, cash equivalents, international standards, Uzbekistan, business, economy

Abstract

This article examines the challenges and solutions in applying international standards for accounting cash and cash equivalents on businesses in Uzbekistan. The research design and methodology involved collecting data through surveys, interviews, and literature reviews. The study identified several challenges, including limited adoption of international standards, outdated guidance, inadequate training and resources, and a lack of consistency in interpretation and application. The research proposes solutions to address these challenges, including increasing education and training opportunities for accounting professionals, improving guidance and support resources, promoting greater adoption and implementation of international standards, and enhancing consistency in interpretation and application. The implementation of these solutions will help businesses in Uzbekistan to better compete in the global market by aligning their practices with international best practices, and contribute to the growth and development of the country's economy.

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