DOI: https://doi.org/10.36719/2789-6919/50/58-63
Mehriban Imanova
Nakhchivan State University
PhD in Economics
https://orcid.org/0000-0003-2210-724X
mehriban.i@ndu.edu.az
Directions for the Development and Improvement of Financial Reporting in Budget Organizations
Abstract
Accountability and transparency are considered one of the important foundations of financial management. Today, one of the main challenges in the socio-economic development of our country is the transparency of the state budget, public accountability and strengthening of financial control, which reflects the relevance of the topic. The purpose of the study is to prepare proposals for increasing the quality, transparency and reliability of financial reports. The scientific article comprehensively analyzes the level of compliance of financial reporting in budget organizations with international requirements and regulatory and legal regulation, identifies the problems encountered and their solutions. For this purpose, analytical, comparative analysis, systematic approach and sociological methods were used. The results show that the existence of some methodological gaps and practical inconsistencies in the reporting system of budget organizations limits the effective use of reporting data in management decisions. Based on the conducted analysis, proposals were made to adapt reporting forms to international standards and increase the level of transparency.
Keywords: IPSASB, financial reporting, budget organizations, digitalization, financial management