The purpose of the research – to study the normative-legal base of accounting and financial reporting of financial and economic operations in the forms of joint activity and directions of its improvement.

The methodology of the research - comparative analysis, systematic approach, logical generalization methods were used in the research work.

The practical importance of the research - at present, the regulatory framework for accounting, especially in the ever-expanding forms of joint activities at the international level, is constantly updated and improved by the relevant authorities.

The results of the research - the formation of a single regulatory framework promotes increased transparency and accountability in joint activities, as well as the development of both inter-company and crossborder economic relations.

The originality and scientific novelty of the research - the advantages of the application of common accounting standards were identified; the reasons for the changes in the regulatory framework were clarified and the impact relationship between the standards was considered.

Keywords - joint activity, joint operation, joint venture, regulatory framework, IAS, IFRS.