DEVELOPMENT OF THE NET REALIZABLE VALUE CALCULATION RELATED TO INVENTORIES IN RETAIL COMPANIES

Lazarev Sergei Vladimirovich, Naumova Olga Alexandrovna

The aim of the article is determining and confirmation the scientific significance for the application of the method of calculation of the net realizable value of inventories related to retail companies in accordance with the Federal Accounting Standard 5/2019 “Inventories”. The actuality of the topic chosen is confirming with this fact, that after the new accounting standard 5/2019 “Inventories” came into force, no practical methods of the calculation the net realizable value related to inventories in the retail companies was stated in the scientific nor practical accounting area. The concernment for retail companies is defining with the significant volume of inventories in the assets and working capital of the retail company. Lack of the description for the calculation leads to the controversial points in accounting area. Methodological basis for this method consists in the summarizing of the Russian and international experience related to this topic and related to the accounting practice of the large Russian retailers. The result of research is autor`s method how to calculate the net realizable value of inventories in retail companies in accordance with the Federal Accounting Standard 5/2019 “Inventories”. The autor`s method could be used as well in the accounting practices of retail companies as for the scientific research and development new calculation method`s of the net realizable value of inventories. The scientific significance consists in the summarizing of suppositions and causes with the purpose to create a theoretical model for the calculation, and in the ability to develop new models of the calculation of net realizable value. The practical significance consists in the ability to use the model proposed for the retail companies.

Keywords:Retail companies, goods for sale, net realisable value of inventories, goods impairment