Harmonization of azerbaijan accounting systems to international accounting standards in the light of latest technological developments

Globalization, new economic challenges and rapid developments in information technologies has created great pressure for change in business environment. These developments have affected the nature of accounting profession and the knowledge skills required of working on accounting profession in Azerbaijan. Information technologies have been used effectively in every period of economic life. This effective usage has caused accounting function which is the most important characterisation of business, to be electronic. The University of Paisley has won a prestigious 1,499,300 Euro contract from the European Commission which will see the implementation of International Financial Reporting Standards to entrepreneurial businesses in Azerbaijan. Good governance, accountability and a strengthened market economy are prerequisites for reducing poverty and for the development of Azerbaijan and this project is one of the key components of the TACIS assistance in this area. This work follows a successful ?1.1 million European Commissionfunded consultancy project by the University and two projects on behalf of the World Bank. These projects saw the development of the country?s financial structures to enable the implementation of International Financial Reporting Standards. In my theme ?Harmonization of Azerbaijan Accounting Systems to International Accounting Standards in the Light of Latest Technological Developments? first of all I betray Accounting System of Azerbaijan in Soviet Union and latter. Lately I searched harmonization of Azerbaijan Accounting Systems to International Accounting Standards which began by the independence and collaterally accomplished incitement and reforms by the government in order to attract financial statements.