SPECIFIC FEATURES OF ACCOUNTING FOR LIABILITIES DURING THE TRANSITION TO IFRS

This article examines the critical and specific features of accounting for liabilities during the transition from national accounting frameworks to International Financial Reporting Standards (IFRS). The transition represents a fundamental paradigm shift in how corporate obligations are recognized, measured, and disclosed. The study specifically focuses on the application of three pivotal standards: IFRS 9, which mandates the discounting of long-term financial liabilities to reflect the time value of money; IFRS 16, which requires the balance sheet recognition of lease liabilities at present value, thereby eliminating traditional off-balance-sheet operating lease treatments; and IAS 37, which establishes rigorous criteria for recognizing provisions and disclosing contingent liabilities. The article highlights how these combined adjustments alter initial carrying amounts, enhance financial transparency, and improve cross-entity comparability. Ultimately, the author concludes that mastering these sophisticated liability accounting mechanisms is essential for transitioning entities to ensure full regulatory compliance and to provide stakeholders with a highly accurate representation of the organization's true financial position.