Inventory as a condition for financial statements compilation

Abstract

Introduction. The article considers the economic concept of "inventory". The paper also contains the determinations of this concept by various domestic and foreign scientists. The changes of the regulatory support of inventory in the modern world are investigated. The differences which were revealed according to the results of the inventory are reflected in the accounting and reporting.

The purpose of the article. The aim of the research is to study the nature, content and role of inventory in business, to investigate the inventory as a tool for compiling and ensuring the reliability of financial reporting.

The method (methodology). In this paper we have used the following methods: the method of comparison, method of analysis, method of synthesis, method of abstraction, theoretical method, method of historical and logical generalization. The dialectical method of investigation has become the methodological basis of the research.

Results. The essence of the economic concept of "inventory" is revealed. It has been grounded the order of the results in the latest accounting and financial reporting. The information on mandatory inventory, timing, scope, grounds in accordance with regulations has been generalized.

The display of inventory results in accounting and tax accounting will become the main point for further research.