FEATURES OF THE USE OF FSBU 5/2019 “INVENTORIES” BY MODERN COMMERCIAL ORGANIZATIONS
The article examines the current topic of the main innovations of the federal accounting standard 5/2019 “Inventories” adopted and effective from 2021, instead of the accounting regulation 5/01 “Accounting for inventories”. The basis of this standard is the International Financial Reporting Standard (IAS) 2 “Inventories” and, accordingly, borrows from it a large amount of various aspects, adapting to the Russian specifics of accounting and reporting. This standard is mandatory for use among all commercial economic entities, with the exception of enterprises representing small businesses. In order to disclose this issue, new norms have been studied in comparison with the ones in force at the current time, and their main differences have been highlighted. The emphasis is on disclosing the concept of reserves, determining the actual value of reserves, as well as other aspects of accounting, illustrated with specific examples. The aspects of the formation of accounting indicators related to the introduction of this standard are also considered. In the end of the study, a conclusion is made about the advisability of introducing this standard and its impact on the quality of the generated reporting from the perspective of external users