Sardorbek Jumanazarov
Yeoju Technical Institute in Tashkent, Acting assistant professor of the Department of Banking
& Accounting, Tashkent, Uzbekistan, e-mail: mishajsa@gmail.com,
ORCID 0000-0003-3691-0308
Abstract: Nowadays, at the same time as the gradual introduction of international financial reporting standards in the country and the acceleration of the process, it is important to compare the concepts of international financial reporting standards and national accounting standards. This article discusses the concept of “own capital” in accordance with international financial reporting standards and national standards of accounting, its similarities and differences, and its structure in terms of accounting. The development of international relations, the encouragement of foreign investment in the economy of the republic requires the improvement of the system of accounting and analysis, their adaptation to international financial reporting standards. Foreign investors do not trust the national standards of accounting in Uzbekistan, and the transformation of financial statements into international financial reporting standards puts forward its own rules. Over the past period, a database of laws and regulations governing joint-stock companies has been created. According to these regulations, the organization and maintenance of accounting in joint-stock companies in other organizational and legal forms of business entities have their own characteristics. Private capital is one of the most important sources of funding for the existence and development of any business entity, so the role of the management system in the formation and effective use of private capital is undoubtedly great. Information on the private capital of joint stock companies is particularly useful and important for making management decisions by external and internal users of financial statements. Own capital is one of the most difficult to interpret categories of accounting. Almost every accounting theory gives its own interpretation of this concept. This leads to ambiguous interpretations and different terms: “capital”, “own capital”, “equity” and so on. The concept of capital is interpreted differently in terms of economic theory and accounting. In economic theory, capital is the sum of main and working capital, that is, the value of all the assets available in the enterprise. Based on the above, the article discusses the private capital and structural structure in the corporate governance of joint-stock companies. Калит сўзлар: капитал, хусусий капитал, корпоратив бошқарув, молиявий ҳисобот.
Keywords: capital, own capital, corporate management, financial reporting.