Directive 2013/34/EU: experience of implementation in nationallegislation




Directive 2013/34/EU, experience of EU countries, categorization of enterprises, international standards for financial reporting for small and medium-sized enterprises, regulatory framework of accounting and reporting, increasing public confidence in financial reporting.


Background. The current social and cultural climate leads to changes in political behavior, the loss of financial resources and inefficient economic activity. Directive 2013/34/EU seeks to increase public confidence in financial statements by improving its assembly processes, reducing administrative procedures, improving the conditions for business and reducing the costs of financial reporting, and facilitating its internationalization.
The aim of the study is to analyze the key substantive aspects of EU Directive 2013/34, the current experience of transposing its provisions into the national legislation of EU countries and the specific features of its imple­mentation by Ukraine.
Materials and methods. Theoretical and methodological basis of the article is the scientific works on the selected topic. Its nature necessitated the application of specific and general scientific methods, including systematic approach, comparative analysis, synthesis, theoretical generalization and systema­tization, scientific abstractions, which made it possible to achieve this goal.
Results. The practice of implementing Directive 2013/34/EU in European countries and in Ukraine to increase public confidence in financial statements has been investigated. The analysis of the practice of categorization of enterprises in EU countries, creating favorable conditions for the preparation of financial statements for small and medium-sized enterprises has been conducted.
Conclusion. The implementation of Directive 2013/34/EU by EU countrieshas not led to the harmonization of regulatory accounting and financial reporting systems. However, it limits differences in national regulatory systems regarding the application of IFRSs, enables comparisons of financial statements of businesses in different countries, helps to increase public confidence in its and increases the likelihood of receiving cross-border investments. It was found that the categorization of enterprises should be considered in the context of requirements for the structure and content of financial statements.
An important factor in transposing Directive 2013/34/EU by Ukraine is reducing administrative burdens and simplifying financial accounting rules for small businesses. The directions of further researches of foreign experience of preparation of financial and non-financial statements are determined.

Author Biography

Svitlana KOROL, Kyiv National University of Trade and Economics

Doctor of Economics, Associate Professor, Professor at the Department of Accounting and Taxation


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How to Cite

KOROL С. (2020). Directive 2013/34/EU: experience of implementation in nationallegislation . oreign rade: onomics, inance, aw, 109(2), 115–128.