Identification and evaluation of in accordance with Russian and international standards
The paper presents the definition of inventories as a collective term to name the short-term non-monetary material assets. It specifies criteria for the recognition of the stocks in the useful life and the ability to bring economic benefit. The authors highlight the differences between the components of inventory - materials, goods and finished products. They discuss the necessity of normative regulation of accounting work in progress as reserves component. They give classification of reserves functional role in the production process. The scientific article reveals possibilities of accounting policies during the initial and subsequent measurement of inventories.