This article describes the international concepts of consist, definition and recognition of elements of financial statements. Revealed no definition of certain elements of financial statements and imperfections official Ukrainian translation of terminology. The conclusions and proposals for updating the Conceptual Framework 2010: expand the definition of “recognition elements of financial statements“ as the process of incorporating in the financial statement an item that meets the definition of an element and satisfies the criteria for recognition. Submit nine elements of financial statements: asset, liabilities, equity, income, expenses, profit or loss, other comprehensive income, contributions by and distributions to owners, cash flows. State the definition of “contributions by and distributions to owners“ and recognition criteria for all elements of the financial statements. Meanwhile edit official Ukrainian translation for IAS 1, wherein the term “other comprehensive income“ translated literally as “інший сукупний дохід“ and "gains" – as “інші доходи“.

актив

зобов’язання

власний капітал

дохід

витрати

майбутня економічна вигода

грошові потоки