The Importance of Financial System and Accounting in the Republic of Uzbekistan and its Current Position

Abstract

Entrepreneurship and business activity play a significant role in achieving economic freedom and development in the country. To increase the position of a country in global sphere, several political, legal, cultural, and even geography related measures are implemented. However, every operation and activity of the state is carried out directly through mathematical models.

Currently, it is difficult to imagine the country's economic policy without a financial system or without financial institutions and instruments. Through their continuity and stability, it is possible to achieve economic prosperity in the global context. This article reviews and critiques theoretical and statistical research on the relationship between the operation of the financial system and economic growth, while mentioning the importance of accounting system in the finance.