ECONOMIC NATURE OF INVENTORIES, THEIR VALUATION AND ACCOUNTING
RABOKON Yuliya – Graduate Studet of the Faculty of Accounting and Auditing,
Vinnytsia National Agrarian University (21008, Vinnytsia, 3 Soniachna str., e-mail:
As a component of the framework of resource potential of enterprises, production
reserves are one of the most important components of current assets.They are defined as
the availability of appropriate material resources, which include the means of production,
consumption items and other values necessary to ensure expanded reproduction, servicing
the sphere of intangible production and meeting the needs of the population. The study of
scientific approaches to the economic essence of the investigated category points to a
number of contradictions in the interpretation of the term "inventaryes".
The article presents the approaches of scientists to the use of terms to define the
concept of "stocks", and it is determined that they are also characterized as "commodity-material values", "tangible assets", "material stocks", "inventory", "material and industrial
stocks," " commodity-production reserves ".
The research of contemporary economists has also been analyzed and it has been
found that scientific literature and normative documents do not have a single approach to
the content of production stocks. This made it possible to determine that disclosure of the
essence of any economic category depends on the chosen approach to its definition.
The established that an important method in the inventory accounting system is to
evaluate them when they are received, written off and as of the reporting date.
The confirmed that for proper organization of accounting in the work plan of the
accounts of economic entities, it is advisable to delineate the relevant analytical accounts
taking into account the specifics of their activities.
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071 Accounting and taxation
072 Finance, banking and insurance
076 Business, trade and exchange activities
241 Hotel, restaurant and catering
281 Public administration
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