employee from 01.01.1998 until now
Makhachkala, Makhachkala, Russian Federation
The article analyzes the current stock assessment system in domestic practice. The assessment should be objective (consistent with market conditions) and consistent (using the same assessment method within the industry). Valuation is the most important accounting tool that provides information about the composition of property, its sources and financial results. The cost of stocks is determined depending on their receipt. According to FSB 5/2019, inventories are recorded at cost, which includes the cost of preparation for use, consumption or sale. When purchasing from suppliers, the cost is determined based on the amount of costs provided for by FSB 5/2019. If stocks are produced independently, their cost is formed from material costs, wages, depreciation, social contributions and other expenses. The reserves received free of charge are valued at market value. Market value is defined as the price at which an asset could be sold in an active market. If there is no market, you can use data from the manufacturer or appraiser. The surpluses identified during the inventory are taken into account at the market price. Materials obtained as a result of disassembly or repair of fixed assets are valued at the lowest possible cost: market value or restoration cost. Inventories purchased in foreign currency are converted into rubles at the exchange rate of the Central Bank of the Russian Federation on the date of the transaction. Exchange differences are accounted for as other income or expenses. The issue of including exchange differences in the cost of inventories remains unresolved. Inventory valuation is a key element of accounting that has a significant impact on the financial stability of an organization.
assessment, reality, unity of assessment, actual cost, write-off methods, costs
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