Accounting concept of inventories in postindustrial economy
Journal Title: Вісник Житомирського державного технологічного університету. Серія: економіка, управління та адміністрування - Year 2017, Vol 80, Issue 2
Abstract
The accounting of inventories has undergone significant changes over a relatively short period of time. It has changed the scientific picture of their definition and classification, measurement and write-offs reflected in the financial statements. However, these changes happen without proper interpretation and system analysis. And, at least in general terms the inventories are conducted in Ukraine according to IFRS; this causes some obstacles to the objective reflection of working capital of enterprises, and the transparency of disclosure and is not conducive to the formation of a proper investment climate. It is established that the information provision inventory control must meet the requirements of the postindustrial economy by the complicating and deepening the complexity of accounting, the introduction of new forms and their synthesis with the current one, a gradual reorganization to ensure the needs of consumers and enterprise evaluation. The results of the study have substantiated the fundamentals of accounting concepts in the postindustrial economy in the part of the circulating capital, which forms inventories. The information support of inventory management should be implemented in a hierarchical way, when it first and foremost analyzes the working capital, and further deals with inventories and stocks as its subordinate components. The author considers the material goods to be a broader concept than reserves, because they have a dual nature both estimated as the share of negotiable assets, and as the physical component of material costs. The paper gives the definition of this category of symbiosis, which is based on P(C)BU 9. The general structure of the current inventories are of significant importance, which has differences in industries, the dominant of which is agriculture, industry, construction, trade, material production. The postindustrial economy caused the questions of differentiation of concepts "production" and "material" stocks. There are factors that affect the amount of inventory estimation such estimation can speed up the process of product realization, reduce the rate of circulating assets and increase the efficiency of their use. International accounting practices and the reporting of reserves have developed a large list of them, which is almost identically reflected in the national accounting standards. Today Ukrainian companies are working in accordance with the rules dictated by the European market and the modern economic relations. The concept is fundamental for the development of the model of postindustrial accounting of inventories. The optimization of inventory management in the competitive environment of the postindustrial economy can be represented by information about the macroeconomic evaluation of inventories at their structure and logistics management of inventories.
Authors and Affiliations
N. L. Pravdyuk
Keywords
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