Home  Journals  International Accounting  15(309) - 2014 April

On evaluation and write-off methods as to inventories for production costs in accordance with the Russian and International standards

Available online: 13 April 2014

Subject Heading: On the way to international standards

JEL Classification: 

Pages: 13-21

The article deals with a comparative analysis of the "inventories" notion according to the Regulations on Accounting 5/01 - "Accounting of Inventories", and IAS 2 - "Inventories". The authors analyze a draft of the Regulations on Accounting 5/2012 - "Inventories Accounting". The conducted comparison of the methods of evaluation of the given assets by the Russian and International standards of financial reporting resulted in determination of certain problems of accounting and inventories inclusion in production costs of the AIC enterprises.

Keywords: inventories, cost of inventories, net sale price, single unit cost, average production cost

References:

1. Demina I.D. Primenenie MSFO 2 “Zapasy” v otechestvennoi praktike bukhgalterskogo ucheta [Application of IAS 2 “Inventories” in the national accounting practice]. Mezhdunarodnyi bukhgalterskii uchet – International accounting, 2013, no. 17.
2. Druzhilovskaia E.S. Sovremennye problemy otsenki zapasov RSBU i MSFO i puti ikh resheniia [The modern problems of inventory evaluation by the RAS and IFRS and the ways to solve them]. Mezhdunarodnyi bukhgalterskii uchet – International accounting, 2013, no. 38.
3. Dusaeva E.M., Tsyguleva M.I. Professional’noe suzhdenie bukhgaltera o sovremennoi ekonomike organizatsii [An accountant’s professional judgement of an organization’s economic activities]. Bukhuchet v sel’skom khoziaistve – Accounting in agriculture, 2008, no. 8.
4. Potapov I.G., Kharchenko O.N. Istochniki informatsii dlia opredeleniia spravedlivoi stoimosti v usloviiakh rossiiskogo rynka [Information sources to determine fair value in the market of Russia]. Mezhdunarodnyi bukhgalterskii uchet – International accounting, 2012, no. 19.

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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