FORMATION ACCOUNTING POLICY FOR INVENTORIES IN THE TRANSITION TO IFRS

Abstract

Purpose is clarification and provide scientific justification features of formation of accounting policy in the organization of inventory accounting in the transition to IFRS. Methodology of research. The study used a general scientific and specific methods of cognition: the methods of logical analysis, synthesis, induction and deduction (at clarifying the structure elements accounting policy on inventory in the transition to IFRS); method of systematic study of business processes (the development of practical recommendations on formation of accounting policy for inventory); abstract logical method (during comparison of methodological approaches to formation of accounting policy for inventories under IFRS and P (S), synthesis of theoretical positions, establishing causal relationships and forming conclusions and proposals). Findings. A comparable analysis of methodological approaches to formation of accounting policy for inventories under IFRS and P (S). Specifies the composition of elements of accounting policy for inventory. Grounded features of formation of accounting policy in the organization of inventory accounting in the transition to IFRS. Originality lies in justifying the features of formation of accounting policy Ukrainian enterprises to inventory in the transition to IFRS. It is proposed to establish the elements of accounting policies for each type of inventory allowing for the consumption during economic activity, based on the requirements of both national and international accounting standards and judgment in the presence of the differences between the standards. Practical value is that the main provisions of the study in the form of practical recommendations can be used by entities to improve approaches to the formation of accounting policies in the organization of inventory accounting to improve the efficiency of their use.