Development of International Entrepreneurship Based on Corporate Accounting and Reporting According to IFRS: Volume 33B

The research aims to analyze the priority areas for developing the digital financial literacy (DFL) of the population. During the research, the authors applied comparative analysis, synthesis, a systemic approach to data evaluation, and the dialectical method. The research found that the main components of DFL include the level of digital financial knowledge, the level of digital financial attitudes, and the level of digital financial behavior. There are also scientifically based theses about the importance of digital transformation of society due to the new global requirements for the level of basic knowledge and skills to use digital financial technologies effectively. Based on the analysis, the authors defined DFL as a basic digital process of forming financial concepts based on the ability of people to make informed decisions in dealing with financial services and their awareness of the risks arising in the digital environment, as well as the possibility of their neutralization. The research identifies and analyzes the most promising areas that make it possible to develop trends in the field of DFL.

The research aims to investigate trade transformation in the context of technological transition and acceleration of its digitalization during the SARS-CoV-2 (COVID-19) pandemic. The methodological basis of this research includes analysis, synthesis, induction, deduction, causality, comparison, description, and logical thinking. The research found that during the COVID-19 pandemic, the digitalization of trade accelerated for several years to come. Industry enterprises (wholesalers and retailers) began to actively implement Industry 4.0 technologies (artificial intelligence, Internet of Things, cloud computing, big data analysis, and augmented and virtual reality) and adapt them to their needs. The main characteristics of today's trade are the creation of smart trade and technological space, platforming, digital automation, omnichannel, personalized sales, etc. Therefore, we can say that trade is undergoing revolutionary transformations, as a result of which Trade 4.0 is being born. A definition of Commerce 4.0 as a customer-oriented business with industry characteristics and digital models that meet the scientific and technical requirements and regulations of Industry 4.0 is given based on the analysis. Key features of Trade 4.0 are digitization of buyers, business processes, products, and services; transforming supply chains into customer-centric organizations; building a digital ecosystem around the company; variety of formats used by trade enterprises; omnichannel interaction with customers and sales; and flexibility of order execution options.

The research aims to identify changes in the banking system of the Kyrgyz Republic, as well as the application of green banking and its promotion as an innovative benchmark. To conceptually understand the problem, the authors applied abstract-logical methods of comparison and generalizations to study and comprehend the current results of scientific research by scientists from around the world. The authors analyzed the time series of development indicators of the banking sector for 2017–2022. The information base was statistical information provided by the National Bank of the Kyrgyz Republic. The banking system of the Kyrgyz Republic is developing progressively positively, in which green principles are beginning to be used to support green initiatives. For green banking to fully function, it is necessary to create an efficient and secure payment system that would help stimulate environmentally responsible financial transactions. For this purpose, the use of advanced technologies (e.g., blockchain technologies) will contribute to the modernization of the payment system. The high degree of dollarization of the banking sector helps attract foreign investment and makes it possible to develop foreign capital, which reduces the independence of the banking sector and hinders the free choice and implementation of priority green projects. Currently, there is a trend of de-dollarization, which poses new challenges for the banking sector to find compromises with foreign partners.

This research aims to determine the impact of the agriculture, fishing, and livestock sector (AFL sector) on the gross domestic product (GDP) of the United Arab Emirates (UAE) from 1975 to 2022. The authors use the Augmented Dickey–Fuller test (ADF), Granger causality, Vector autoregression (VAR), Ordinary least squares (OLS), and Autoregressive conditional heteroskedasticity (ARCH) techniques. The causal relationship between the UAE AFL sector and the GDP and its main sectors was studied in the short and long terms. The research concludes that the total GDP, oil GDP, and nonoil GDP respond to changes in the AFL sector and vice versa, which explains the positive role played by such a sector in the UAE's economy in the short and long terms. The study recommends that the government direct attention to the AFL sector as an additional source of income for the state, which will reduce dependence on the country's oil sector. The study also emphasizes the necessity of economic development in the AFL sector and at the level of all economic sectors to achieve the country's comprehensive long-term Sustainable Development Goals (SDGs).

This research focuses on determining the necessity of strategic cost management in manufacturing industries. Additionally, the research negates the need for its implementation in practice with the intention of strategic accounting for managing industrial enterprises. During the research, the authors used observation, data collection, generalization, grouping, comparison, and monographic observation. The focus is placed specifically on analyzing the cost management systems of steel industries in Uzbekistan. The problems of reducing the cost of manufactured products and improving cost accounting are one of the most urgent issues. In the conditions of limited resources, the prices of basic raw materials and energy sources are increasing daily. To achieve their ultimate goal, enterprises should first increase the selling price of products or lower their cost. Product sales prices cannot directly depend on the wishes of enterprises. After all, they change in the market according to the law of supply and demand. Expenses are formed within joint-stock companies. Control of their level depends on the enterprise's management. Currently, it is time to improve the calculation of production costs and use advanced management methods.

Natural disasters and human-made events occurring against the background of global climate change are directly causing an unexpected financial recession in agriculture. From this point of view, agricultural insurance is of special importance in financially mitigating the damage caused by climate change. The research analyzed the forecast parameters by selecting the amount of precipitation and the factors affecting cotton crop insurance, which is considered one of the agricultural crops. The research discusses the effective utilization of agricultural insurance opportunities in compensation for damage from climate change and the development of forecast development scenarios based on using econometric models in this direction. The authors explore the importance of further improving insurance protection measures in the future based on projection scenarios developed up to 2028 for crop and livestock insurance in agricultural insurance activities.

The research studies the issues of ensuring the economic sustainability of chemical industry enterprises based on financial and economic management. This chapter explores the theoretical and methodological aspects of appraising the economic stability of industrial enterprises. The authors presented a unique view on the essence of economic stability and clarified the interpretation of the economic sustainability of enterprises from the perspective of the influence of factors of the external and internal environment. The authors devised an innovative approach to appraising the economic stability of industrial enterprises using integral differential equations derived from regression analysis. The advantage of existing methods in the proposed assessment methodology is that it is possible to see the only clear expression of the comprehensive evaluation of weight values by calculating the main internal (quantity of product sales, employee efficiency, material and technical resources, sales worth, and equity) and external factors (social elements, market demand, inflation, variations in exchange rates, infrastructure, regulation of legislation, etc.).

The research is devoted to the theoretical foundations of capital management efficiency based on the existing management problems in joint-stock companies. The author develops conclusions and recommendations for improving the efficiency of capital management. The research analyzes the capital management status of a joint-stock company using indicators that show the enterprise's capital efficiency, the seasonality of the chemical industry, low profitability, high turnover of working capital, and other peculiarities. The methodology presented in this research allows chemical enterprises to assess capital efficiency. In this research, the author created a regression model based on the financial data of enterprises, approaching the existing methodology in the world, and analyzed the specific situation that affects the growth of enterprise assets. According to the six-year financial data for “Farg'onaazot” Joint Stock Company (JSC) and “Bekabadcement” JSC, the author concludes that the ratio for the last three years shows a satisfactory level in the remaining indicators despite recording a good result, indicating that capital management is not reasonable. The practical significance of this research is that the results obtained will serve to improve the financial management of enterprises in the chemical industry.

Global climate change threatens world food security. This research raises the issues of priority agricultural development, increasing agricultural production, and expanding the insurance coverage of the industry. The authors propose to implement insurance activities further to prevent the effects of climate change and economic support in the emphasizеd advancеment of food production in agriculture. The research relies on direct comparative analysis, statistical and economic analysis, and monographic observational data. To conduct deep research, the authors apply analysis and synthesis. The authors also use the questionnaire methods across the country and organization, monographic research, and other methods. Furthermore, the authors used international normative documents, research of scientists in scientific periodicals, and data from official websites. The authors conclude that to protect agricultural insurance and ensure the continuous development of agriculture, it is advisable to transition from administrative methods to the following recommendations for insurance against various financial and natural losses that may arise in agriculture due to the vagaries of nature. It is also recommended to introduce a mechanism of state subsidies to compensate for the costs and improve the efficiency of insurance agents in the insurance activities of agricultural enterprises.

Due to global systemic changes, the Brittle Anxious Nonlinear Incomprehensible (BANI)-world model has been formed since 2020, which greatly affects the world economic model. To overcome the main challenges, developing countries have to solve the tasks of their sustainable development and flexibility and transparency of various management methods at the microlevel. Outsourcing is regarded as one of such tools. Understanding the origins and development trends of outsourcing services makes it possible to effectively implement the tasks set for business in today's realities and contribute to the development of entrepreneurship and the economy of a country, making the system more sensitive and responsive. This research provides an overview of the development of the market for outsourcing services in Russia based on general information about the global market for outsourcing services and the current trends in Russia. The authors described the main milestones in the history of the formation of the outsourcing market in Russia, which influenced the formation of the main current features of the outsourcing services market. The authors also identified the main problems of the market for outsourcing services in Russia and highlighted the main directions for developing outsourcing.

The research aims to identify the importance of the Republic of Türkiye in the global textile market. The research methodology is based on basic methods of scientific cognition, such as analysis, synthesis, deduction, and induction. From the particular methods used, it is worth highlighting the applicable comparison method. During the research, the authors carried out a content analysis, mainly of scientific works by Turkish scientists and news from the Turkish media. The research object is the global textile industry market. Nowadays, Türkiye faces damaged industrial buildings and an acute labor shortage. The country will need to spend a lot of time and efforts to restore its former production capacity in economically important regions, which will affect the country's export potential. COVID-19 has greatly affected the state of various sectors of the economy; the global textile market is no exception. Unlike other sectors of the economy, the global textile market recovered quickly; by 2021, it had regained its production capacity. In turn, Türkiye was even able to exceed its exports and increase its role in the world market. The country did not have time to reach new heights: on February 6, 2023, several powerful earthquakes occurred in economically important provinces of Türkiye. Most of them are provinces of the expensive the Southeastern Anatolia Project (GAP) project, where 60% of the cotton of all Türkiye is produced, and the population mainly works in the textile industry.

The research aims to assess the Russian automobile market before and after the imposition of sanctions, analyze the positions of Chinese automobile brands in the Russian market, and assess trends and prospects for the development of China's presence in this segment. The authors use the statistical method and the method of comparative analysis to determine the position of Chinese automakers in the Russian automotive market. The research determines that most Western and Japanese brands left the Russian market due to the strengthening of sanctions in 2022. Due to problems in the supply of components and spare parts, most of the Russian automotive market was filled with Chinese automobile companies planning to expand their presence. This research examines the trend of the presence of Chinese automobile brands in the automotive industry of Russia. Under sanctions, the economy of the Russian Federation is forced to look for other opportunities to develop technology and production. The relevance of this topic is due to the significant role of the automotive industry in the economy of any country, as well as the importance of this industry for the employment of the able-bodied population. To achieve this goal, the authors formulated the tasks to assess the automotive market before and after the imposition of sanctions, to analyze the Chinese automotive market, and to assess the prospects for its development in Russia.

The research aims to determine the directions for developing marketing strategies of state commercial banks based on quantitative metrics for evaluating the effectiveness of the marketing activities of banks adapted for the banking sector. During the research, the author applied the methods of terminological, structural, and logical analysis, analogy, synthesis, system analysis, methods of generalization and grouping, table and graphic methods, economic and statistical methods, and methods of dynamic and logical analysis. The result of this research is the systematization of existing theoretical and methodological approaches to calculating the effectiveness of marketing activities in a bank, as well as the calculation of the author's methodology for assessing the main, innovative, and total effectiveness of marketing activities in leading Russian banks. The methodology for assessing the quantitative indicators of a bank's marketing effectiveness has been improved, which consists of the indicators of the effectiveness of fixed costs for marketing in the bank and considers unforeseen expenses caused by the bank's innovative activity related to challenges of time and digital transformation.

This chapter assesses the economic security of enterprises on the example of the textile industry of Uzbekistan. The authors considered the ways to identify new textile enterprises in Uzbekistan and studied the issues related to the enterprises' financial security. The process of index formation and its dependence on the initial data is also of interest. Given that the level of receivables turnover is gradually decreasing, we can assume that the company's customers will accumulate late payments and return them near the end of the financial year. This situation can increase liquidity indicators, which shows the low efficiency of the system for managing accounts with customers and the lack of working money during the financial year. This hypothesis is also confirmed by the decrease in the capital ratio during the period analyzed. The proposed methodology was tested in the automated Microsoft Excel, which made it possible to quickly and efficiently form the final calculated indicator. In addition, this methodology allows users to expand the range of inputs and double-check other factors depending on market conditions.

On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) officially came into force. It was implemented in six ASEAN countries and four non-ASEAN countries (China, Japan, New Zealand, and Australia) as the world's largest free trade agreement (FTA) and the first direct free trade area agreement between China and Japan, indicating that the agreement to develop China–Japan FTA relations has borne brand new results. It will be the first time China signs an FTA with the world's top 10 economies. In the context of global de-internationalization, unilateralism, and trade protectionism, as well as the adoption and implementation of various restrictions on international trade by some countries to strengthen their capacity to protect the market economy, the RCEP is an important activity for the major economies in the Asian region to actively seek change in the face of the crisis. Under the RCEP, China and Japan have reached agreements on bilateral trade in commodities, trade in services, and rules of origin, all of which will jointly promote trade between China and Japan. Analyzing the current trade situation between China and Japan, this chapter discusses the impact that the entry into force of the RCEP may have on bilateral trade between China and Japan. Moreover, this chapter provides suggestions for further developing Sino–Japan trade for reference.

This chapter focuses on Chinese investments in Tajikistan's transportation and logistics infrastructure. This chapter studies the role and place of Chinese investments in the development of the transport and logistics infrastructure of Tajikistan, the country's exit from the transport and communication deadlock, and the transformation of Tajikistan into a transit country of the Central Asian region. The research raises the issues of the economic efficiency of these investments. The authors apply general scientific methods. Statistical and comparative methods are used to examine the investment cooperation between China and Tajikistan. Compared to other strategic partners of Tajikistan, China greatly contributes to the development of the Tajik economy and ranks first in the list of major investors. Chinese investment in transport made it possible to logistically connect Tajikistan to four neighboring countries through roads and railroads built and reconstructed by Chinese investors and companies. According to the analysis of the research topic, the effective use of Chinese investments for repairing and reconstructing the transport infrastructure of Tajikistan is important for improving the country's transport and logistics system. The two neighboring countries are using economic mechanisms to increase the effectiveness of direct financing by the Chinese government and private companies for transport projects to help Tajikistan overcome its communication isolation and become a transit country in the Central Asian region. This chapter analyzes the experience of successful transport projects with Chinese investments. The analysis showed that Chinese investments in transport have played a key role in improving Tajikistan's economic and social environment.

In recent decades, with China's “Go Global” and “Belt and Road” strategies, Chinese multinational corporations (MNCs) have been provided with a new development direction. This chapter aims to identify the features of the entry of Chinese multinationals into Kazakhstan and analyze their characteristics in terms of investment attractiveness and location advantages. The basic method for evaluating the characteristics of the development of Chinese MNCs in Kazakhstan is a statistical analysis based on UNCTADstat. Based on the analysis, the authors conclude that although China has many MNCs, their rate of transnationality and competitiveness index are far behind those of European and American ones. The number of Chinese multinational companies investing in Kazakhstan (1,234 companies) ranks third in the number of foreign companies in the country. Chinese multinationals investing in Kazakhstan are mainly concentrated in Xinjiang because it borders Kazakhstan and has geographical and cultural advantages. China's direct investment in Kazakhstan covers a wide range of industries, including agriculture, animal husbandry, planting, construction, mining, transportation and communication, hotel and catering industry, trade and auto repair industry, etc. However, most registered enterprises are engaged in developing and utilizing energy fields in Kazakhstan.

Regional economic integrations bring many economic benefits to member countries. In international competition, there are integrations that make it easier for countries to reach their goals and attract attention with their effectiveness today. The Eurasian Economic Union (EAEU) is one of the main important regional economic integrations. This chapter details the relations Turkey can establish with the EAEU by considering the import and export data between Turkey and Russia. The research of recent data will discuss how Turkey's trade relations with Russia strengthen the EAEU and what kind of relationship will be possible in the future, considering commercial and economic integrations that are already included, as well as geographical and historical elements. This chapter will assess the potential relationship that can be established with the EAEU, given the strengthening of trade ties between Turkey and Russia. This chapter highlights the alternatives for the harmonization of Turkey's potential cooperation with the EAEU, which is planning a development strategy.

This chapter aims to improve the mechanisms of economic integration between Russia and Cuba. The methodology used by the author in this chapter is mainly composed of the method of historical-comparative, inductive, and analytical-synthetic analysis. The author used the existing information on the internet and other analyzed references. Additionally, the author qualitatively analyzed the opinions of various experts and drew conclusions. Regional integration is examined conceptually as a basis for a better understanding of integration processes. The research provides historical data after including Cuba in the Council for Mutual Economic Assistance (CMEA), considering this structure as the first one with characteristics of an economic integration structure. Next, the author considered the post-Soviet stage until the present. Statistical data according to the Observatory of Economic Complexity (OEC) summary are provided. These data correspond to the periods from 2018 to 2021 and show the statistics of exports, imports, and other important indicators between the two countries. Based on the analysis, it is necessary to update the integration mechanisms to reduce tariff rates, promote free trade between the two countries, and increase the participation of Russian companies in the Mariel Special Development Zone (ZED Mariel), Havana, Cuba.

This chapter aims to analyze and evaluate the economic potential of Chad within the African continent, identify the challenges faced by the country, and propose potential solutions. The authors used a combination of qualitative and quantitative research methods. Relevant data is collected from reliable sources such as government reports, international organizations, research institutes, and academic studies, including data on Chad's GDP, trade flows, foreign direct investment (FDI), infrastructure, human capital, and natural resources.

The Republic of Chad is an agrarian country where the prosperity of 55% of the population depends on the development of agriculture, mainly livestock. Although rich in natural resources, Chad is one of the poorest countries in the world. Several investment projects have recently appeared in this country, which will help reduce the population's poverty in the future. The growth rate of Chad's economy lags behind that of the population. Foreign assistance is needed to solve the identified problem. With regard to the investment projects that have become more active this year, it would be unnecessary to be dizzy with success because they are still unable to break the established way of life. The Republic of Chad is situated in Africa and is considered one of the largest countries in the continent. The country has no access to the sea.

This chapter focuses on the problem of socioeconomic development of the Kyrgyz Republic's regions based on the analysis of the gross regional product per capita in all regions and determines the need for interregional alignment in the sustainable development context. The subject of this research is the issue of interregional inequality. This chapter aims to study and develop proposals for the socioeconomic alignment of the regions of the Kyrgyz Republic in the sustainable development context. The methodological basis of this chapter is based on economic and mathematical methods of data processing and the method of scientific analysis, including statistical data analysis. The authors propose measures to reduce the socioeconomic differentiation of the regions of the Kyrgyz Republic. The relevant state bodies in the development of regional socioeconomic programs can use the recommendations and conclusions of this chapter. The scientific value of the publication is that its results can be used in further research on territorial alignment.

The planning of the strategic regions' development is hampered by numerous uncertainty factors, which creates problems for public administration bodies. This research aims to develop a method for assessing the abilities of the region's economic system to adapt to uncertain conditions as a methodological basis for implementing public administration measures. The authors conducted a study of the dynamics of the development of the federal districts of Russia in 2019–2021. The conducted study revealed the heterogeneity of the reaction of regional economic systems to the impact of uncertainty factors, although the overall dynamics of the country's development were positive. The research methodology includes the determination of relative changes in the main indicators of socioeconomic development of regions and their contribution to the country-wide dynamics from the beginning of the occurrence of uncertainty factors to the recovery stage; their adjustment, considering the rigidity indicators; ranking of regions by the level of adaptability of the economic system; development of a differentiated set of measures to improve the adaptability of each type of economic systems. The authors determined that a high level of rigidity causes a low adaptability of the economic system to changes. The authors tested the methodology for assessing the adaptability of the economic system on the example of the federal districts of Russia. The authors distinguish three types of regional economic systems, depending on their adaptability, and apply a differentiated approach to substantiating regional policy measures.

The authors study public debt policy based on the reports for 2011–2022 and examine the factors affecting the public internal and external debt growth rate using several methods. The research results demonstrate that internal and external debts have changed significantly under the influence of socioeconomic factors. The authors provide scientific recommendations and conclude that public debt is one of the vital instruments of the macroeconomic regulation system through the budget-tax policy. The main features of the debt financing system of the budget deficit are considered. It embodies the redistribution system of national income expressed through its activity as a “state debtor agent” to attract funds for financial support for the requirements of specific segments. Debt financing of the country's primary budget deficit affects the consumption, savings, and investment environment and usually depends on various aspects of the economy. During an economic downturn, the government revives aggregate demand by raising gathered funds (via the sale of securities) and funding governmental operations, which has a stimulative impact. To stabilize the national economy in terms of the country's foreign debts, global funds will have the opportunity to “infect” financial resources in exchange for funds. In a period of stable economic development, the activation of the state as a borrower in the financial market will have the character of crowding out private investments. This ultimately shows that public debt has the characteristic of limiting the scientific views of economists regarding state debts.

This chapter considers the stages of development of the audit services market in Uzbekistan and the process of improving the system of state regulation of audit activity, taking into account modern standards of international practice and ensuring information transparency of the audit services market, its stability, increasing the authority of the audit profession as a key factor of sustainable development of the audit services market and quality effect. It is crucial to remember that healthy competition promotes economic growth and increases the accountability of an audit company for the caliber of the provided audit services. New digital technologies are being developed and gradually implemented in accounting and auditing processes. Most businesses are working to maximize all contractual economic activities by automating accounting processes. Economic digitalization makes it possible to establish a national accounting system, wherein indicators will be collected to characterize the state of the firm's internal socioeconomic processes. This chapter investigates Uzbekistan's accounting and auditing regulations and how digitalization affects them. It emphasizes the necessity of digitalization and the benefits of using blockchain technology.

In this chapter, the authors evaluated the financial security of “Kvarts” Joint-Stock Company (JSC) and “Kattakurgan oil” JSC operating in Uzbekistan, considering external factors. The authors tested two main hypotheses. According to the first hypothesis, the statistical panel model, which considers fixed effects and random effects in the cross section, is estimated using the least squares method of the cumulative model. Regression analysis is used in the panel data model. It is desirable to perform the calculation using the method of least squares in this model as well. According to the alternative hypothesis, it is a dynamic panel model. This model studies the dependence of the independent variable in the previous period. If there is an autocorrelation of the residual between the predicted independent variable and the actual independent variable in the regression line of the statistical panel model, then the dynamic panel model is used by the lagged independent variable. Based on the official reports of “Kvarts” JSC and “Kattakurgon oil” JSC, the authors created panel regression model indicators based on financial security indicators using the Eviews-9.0 program. Moreover, the authors developed forecast indicators of their financial security status indicators until 2025.

This chapter examines the theoretical aspects of the financial stability of enterprises with different forms of ownership. The authors' approach to the financial stability of industrial enterprises is developed. Depending on the size (large, medium, small) and specific characteristics within sectors and industries, various indicators can be employed to evaluate the degree of financial stability. According to the authors, considering the specifics of construction materials enterprises, formed by seasonality of demand, capital intensity, investment volume, transportation costs, technological processes, etc., the assessment of their financial stability is based on the definition of absolute financial stability, normative financial stability, and precrisis level of financial stability. Using this methodology, the authors analyzed the financial stability of firms operating in Uzbekistan's construction materials sector. The outcomes resulted in crafting scientific recommendations and practical guidance to improve the financial robustness of these businesses.

Drawing on international experience, the research monitors the effectiveness of the green economy in Uzbekistan and determines the prospects for improving this efficiency in Uzbekistan. The theoretical significance of this research lies in developing a new methodological approach to assessing the green economy's development level. The novelty and uniqueness of the author's approach consist of the consideration of the development of the green economy from the perspective of efficiency, with a systemic consideration of costs and benefits. The successful testing of the author's approach in the case of Uzbekistan in 2023 confirmed its high quality and reliability. The main author's conclusion is that the efficiency of the green economy in Uzbekistan in 2023 is sufficiently high: ecological investments are profitable, which promotes the development of the green economy. To enhance the efficiency of the green economy in Uzbekistan, it is recommended to use a new methodological approach to monitor the green economy from the standpoint of its efficiency and integrate green economic indicators into corporate reporting using green International Financial Reporting Standards (IFRS). The practical significance of the results obtained is expressed in the fact that the results of the conducted monitoring of the efficiency of the green economy in Uzbekistan in 2023, based on international experience, as well as the proposed recommendations for improving the management of the green economy, will help increase its efficiency in Uzbekistan by 2030.