HARMONIZATION OF FINANCIAL REPORTING WITH IAS AND IFRS IN CONTEMPORARY BANKING IN THE REPUBLIC OF SERBIA
Abstract
The national economy is striving to direct its banking market towards harmonization with the international banking market. Financial reporting by IAS and IFRS allows for easier comparability of financial reporting between national and foreign banks and their clients, thus attracting foreign investors, leading to the development of national economies. IAS represent international accounting standards, and IFRS represent international financial reporting standards. The subject of research in this paper relates to the implementation and implementation of IAS and IFRS in banking financial reporting, on the example of Erste Bank a.d., Novi Sad. The objective of the research indicates the importance of IAS and IFRS in the financial reporting of banks in the conditions of modern banking operations. The incomplete implementation of the IAS and IFRS in the financial reporting of banks points to the current problem in banking operations. The expected results of the survey should identify the accounting standards used by banks, as well as to indicate the reasons why there are deviations from the implementation of the IAS and IFRS in the financial reporting of banks in the banking sector of Serbia.