This study examines the firm-specific factors that influence company’s decision to voluntary adopt IFRS in Ukraine. For this purpose a logistic model was developed based on the dataset of 295 Ukrainian non-financial firms in years 2005–2014. The findings of this paper suggest that companies in Ukraine with larger assets, more than a half of foreign capital in the equity and a need to provide their financial statements for further consolidation are more likely to voluntary implement IFRS. On the contrary, other commonly suggested factors such as listing status, financial leverage, profitability and audit opinion do not influence management incentives to report under IFRS in this country. Moreover, this study extends popular models by adding into analysis unique factors (e.g. availability of standardized internal reports or determination of primary users of the financial statements). These enabled authors to reveal the importance of accessibility to accounting software or ERP systems for Ukrainian company’s decision to implement IFRS due to decreased costs of such transition.