Improvement of financial instruments accounting based on international standards

Abstract

The article examines ways to improve financial-instrument accounting in joint-stock companies in accordance with International Financial Reporting Standards. It explains the links among IAS 32, IFRS 9, IFRS 7 and IFRS 13 and proposes an “integrated accounting passport of a financial instrument” that connects identification, classification, recognition, measurement, impairment assessment, risk monitoring and disclosure. Public financial-result data of Almalyk Mining and Metallurgical Complex JSC (OKMK) for 2024–2025 are compared. The reported foreign-exchange loss declined from UZS 5,669.9 billion to UZS 4,324.2 billion, while its ratio to net revenue fell from 15.05% to 8.58%. The paper clarifies that public aggregate figures do not prove instrument-level accounting errors and proposes indicators for subsequent practical testing.