Abstract

The article is devoted to the procedure for forming information and reflecting business operations for accounting for finished products of an economic entity in accordance with the accounting regulation (standard) 9 "inventory" and the international accounting standard (IAS) 2 "Inventory". The norms of national and international standards are compared and the expediency of switching Ukrainian enterprises to international accounting standards is determined. Occupying an important part of the company's assets, finished products play a significant role in shaping the cost structure of enterprises, and their cost has a significant impact on the level of profitability of production, the speed of turnover of invested capital and profit of the enterprise depend on their effective use. Rational use of production stocks carries the potential to increase production efficiency. In turn, the formation of reliable information about the availability and movement of production stocks and the correct accounting of their cost ensures the reliability of financial statements. The national accounting regulations (standards) comply with the requirements of international accounting and Financial Reporting Standards, taking into account the economic, legal, and tax characteristics of our state, but there are certain inconsistencies between national standards and international ones, including in terms of inventory accounting. That is why the issues of improving the accounting of production stocks with their maximum approximation to the methodology of international standards are quite relevant today. In the light of recent events, due to the development of globalization processes that have covered all spheres of life, including economic ones, the study of the requirements of IAS and International Financial Reporting Standards (IFRS) is particularly relevant. Ukraine's entry into the world market directly depends on the transparency and reliability of the accounting statements of its economic entities, on the basis of which the investor can decide on the volume of investments and the feasibility of investing in Ukrainian companies as a whole, as well as, accordingly, monitor the effectiveness of the use of the provided investments. This confirms the relevance and necessity of studying the issue of adapting accounting regulation (standard) to international standards.

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