Subject Business development poses new challenges for generation of organized information about the objects of corporate accounting, materials in particular. Their recognition, evaluation, and movement have a direct impact on the financial results of a corporation. Methods The article describes the areas of corporate accounting and reporting development in the sphere of generation and disclosure of information on inventories, especially materials. The methodology of the research involves the analysis of provisions of the national system of statutory regulation of accounting, and development of recommendations on providing reliable information to the users of corporate reporting that characterizes the economic entities' activity. We make proposals on the reorganization of corporate accounting for unbilled deliveries. We investigated methods of materials evaluation, changes in their value based on national and international accounting practices. Special focus was on the methods of formation of actual cost of materials, including distribution of transportation and procurement costs. The article explores changes in the value of materials, including measurement at fair value and net selling price. We developed recommendations for recording in accounting books and reporting in financial statements of facts of business life that relate to unbilled deliveries of materials. To increase the reliability of corporate reporting, we proposed a procedure for recording the variances that occur when there are unbilled deliveries upon receipt of documents after approval of corporate financial statements. Conclusions and Relevance To increase the reliability of information reported in corporate financial statements and to eliminate misstatement therein, we suggest that a company's accounting policy would provide for methods of changing the cost of materials and recording the variances that occur in the event of unbilled deliveries.
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