Comparison of approaches to inventory valuation in RAS 5/2019 and ifrs 2 in the context of solving the problem of convergence of russian and international accounting practices

Abstract

Currently, the implementation of the Program for the Development of Federal Accounting Standards for 2019 - 2021, approved by the Order of the Ministry of Finance of Russia No. 83n dated 05.06.2019, is being carried out and certain results of this work can be stated. These include changes in the content of a number of existing standards. First of all, it should be noted the amendments already adopted to PBU 1/2008 "Accounting Policy of the Organization", adopted and coming into force for reporting for 2022 "Accounting for Leases" (PBU 25/2018), as well as amendments to the standards that have come into force for reporting for 2020 “Accounting for State Aid” (PBU 13/2000), “Accounting for Calculations of Corporate Income Tax” (PBU 18/02), “Information on Discontinued Operations” (PBU 16/02). But the breakthrough year, based on the reform program, promises to be 2021, from the beginning of which the application of seven new standards should begin, including the FSBU "Inventories".