Topical issues of inventories accounting in accordance with FSBU 5/2019 “Inventories”
Abstract
In 2019–2022, the Russian Federation is actively continuing to reform accounting in accordance with International Financial Reporting Standards. The requirements for the formation of accounting information about inventories are set out in the significant federal standard, which is mandatory for use from 01/01/2021. This article provides an overview of the changes made, and also analyzes the consequences of these changes and the practice of their implementation in the accounting system and reporting of Russian commercial organizations. Thus, the object of the study is changes in the accounting of inventories in accordance with the new requirements of FSBU 5/2019. The authors came to the conclusion that FSBU 5/2019 made it possible to bring the norms of the Russian and international accounting systems closer together. However, in the context of the progressive implementation of Russian standards, many Russian organizations faced insoluble methodological problems, which, as a rule, were solved from the standpoint of the principle of rationality. So, even the initial application of the standard in most cases was implemented prospectively. In addition, the article states the need to develop and adopt an updated Conceptual Framework for Accounting and Reporting for Russian commercial organizations.
About the Authors
K. N. Shakirzyanov
Kazan (Volga region) Federal University
Russian Federation
Russian Federation
Master student
R. Sh. Tukhvatullin
Kazan (Volga region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
E. Yu. Vetoshkina
Kazan (Volga region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
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Review
For citations:
Shakirzyanov K.N., Tukhvatullin R.Sh., Vetoshkina E.Yu. Topical issues of inventories accounting in accordance with FSBU 5/2019 “Inventories”. Kazan economic vestnik. 2022;(6):44-49. (In Russ.)
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