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National and Foreign Experience of Stocks Management: The Accounting Aspect
Hnatiuk O. M., Bala O. I.

Hnatiuk, Olha M., and Bala, Olha I. (2021) “National and Foreign Experience of Stocks Management: The Accounting Aspect.” Business Inform 2:244–249.
https://doi.org/10.32983/2222-4459-2021-2-244-249

Section: Accounting and Auditing

UDC 657.372

Abstract:
The publication defines the economic content of the concept of «stocks»; a comparative analysis of interpretation of this category in view of the content is carried out; the approaches to the interpretation of constituent elements of the enterprise’s stocks are analyzed; the peculiarities of accounting and analytical management along with reflection of stocks in the balance sheet of the enterprise in accordance with normative legislative acts are determined. Also the peculiarities of foreign practice of stock accounting are explored and analyzed. An overview of stock management in economically developed countries comparing with national practice is carried out. The peculiarities of attribution of certain types of assets to stocks, both in Ukraine and abroad, are determined. Both the common and the distinctive features of stock management of either the national or the foreign accounting are identified. A study of the main provisions of the national (standard) of accountance 9 «Stocks» and the international standard of accounting 2 «Stocks» is carried out. The economic content of the category of «stocks» is defined in accordance with both above mentioned standards. A comparative analysis of the stock accounting methods according to IAS and PSBO is carried out. The advantages and disadvantages of each of the methods are determined. The possibilities and expediency of consolidation of the provisions of the national regulation (standard) of accounting with international accounting are considered. Proposals have been formed to improve the process of stock accounting on the basis of the provisions (standard) of national accounting and in accordance with the norms of the international accounting standard 2 «Stocks». It is proved that the harmonization of the typical provisions of the PSBO and IAS, especially for entities engaged in international economic activity, will facilitate to manage the condition and quality of stocks, which is the key to effective production and economic cooperation. At this, the authors recommend the following: improve the accounting of stocks regarding their content and classification; improve the financial, accounting and management display of stocks; improve economic analysis, control and audit on the efficiency of application; automate accounting processes.

Keywords: stocks, stock items, stock accounting, national and foreign practice of accounting and analytical stock management.

Tabl.: 1. Bibl.: 12.

Hnatiuk Olha M. – Master, Department of Accounting and Analysis, Lviv Polytechnic National University (12 Stepana Bandery Str., Lvіv, 79013, Ukraine)
Email: [email protected]
Bala Olha I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Management and International Business, Lviv Polytechnic National University (12 Stepana Bandery Str., Lvіv, 79013, Ukraine)
Email: [email protected]

List of references in article

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