Implementation of the fsbu requirements 5/2019 “Reserves” in organization of accounting of reserves

Abstract

The results of the activity of an economic entity, in many respects by the rationality of the management of circulating assets, including their group as reserves. Each entity implements its own process control mechanism, ideally should ensure the stability and regularity of production processes, as well as efficiency with the highest efficiency. Therefore, the correct formulation of accounting inventory within the framework is essential. Today, the organization of accounting is under the special attention of employees of accounting services, since from January 1, 2021, the requirements of the Federal Accounting Standard 5/2019 “Inventories” are mandatory for application in practice. In this regard, the accounting services of the subjects need to take appropriate practical steps in order to successfully fulfill the economic requirements of the standard starting from the reporting for 2021. The article discusses measures for organizing accounting of stocks and the possibility of their implementation in the practice of economic entities.