BENEFITS OF IMPLEMENTING INTERNATIONAL FINANCIAL REPORTING STANDARDS IN ACCOUNTING FOR PROPERTY, PLANT AND EQUIPMENT

Abstract

Abstract: This article examines the requirements of International Financial Reporting Standards (IFRS) regarding the accounting treatment of property, plant and equipment (PPE) and highlights the main differences between international and national accounting standards. PPE constitutes a significant part of enterprise assets and requires accurate recognition, valuation, and depreciation to ensure effective business operations and sustainable economic development. The study analyzes the advantages of applying IAS 16 “Property, Plant and Equipment” and discusses its impact on financial transparency, investment attractiveness, and the development of the digital economy. Furthermore, the article evaluates the positive and negative aspects of implementing international accounting standards in Uzbekistan.