MAINTAINING A RENTAL ACCOUNT IN ACCORDANCE WITH INTERNATIONAL STANDARDS OF FINANCIAL REPORTING IN THE REPUBLIC OF UZBEKISTAN

Abstract

In this article, it considered that the issue of maintaining the rental account in accordance with international standards is expedient and it is necessary to support the state regulation of international standards of financial reporting. But, It was noted that rental accounting in the Republic of Uzbekistan has not developed for several reasons.In the accounting account of the organizations of the Republic of Uzbekistan, the leased property reflected as the amount of expenses under the lease contract, as well as other expenses related to the Bringing of the property to a workable condition. In accordance with the IFRS (IAS) 17 "Rent" the lessee takes into account the asset received in the financial lease at the lowest of the fair value of the property or at the discounted value of the minimum rental payments. Enable users of the information to make management decisions about the facility with the most accurate assessment of the condition of the financial statements and to have a complete picture of the development of the organization. Conclusions and definitions regulating the accounting of rental relations in accordance with the normative documents of the Republic of Uzbekistan and the international standards of the financial reporting are given.