As of 6 March 2025, amendments to National Accounting Standards (NAS) 1 “General Requirements for Financial Statements” and NAS 25 “Simplified Financial Statements”, approved by the Order of the Ministry of Finance of Ukraine No. 29 dated 23 January 2025, have come into force.
The changes align accounting terminology with Ukrainian accounting legislation and extend the scope of the standards to audit activities. In addition, the approach to determining the cost of goods sold and services provided by micro-enterprises has been clarified in line with NAS 16 “Expenses”.
