The article describes the conceptual differences between the Russian accounting standards (RAS) and international financial reporting (IFRS) in part of the inventory. The author provides a comparative analysis of national and international approaches to formation of their account value at all stages of the economic activities of an organization. The paper provides the recommendations on convergence of RAS and IFRS in accounting of inventories.
Keywords: inventories, actual costs, discount price, net sale price, estimated reserve
References:
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