TOPICAL ASPECTS OF IMPROVING THE ORGANIZATION OF PRODUCTION INVENTORY ACCOUNTING OF ENTERPRISES ; АКТУАЛЬНІ АСПЕКТИ ВДОСКОНАЛЕННЯ ОРГАНІЗАЦІЇ ОБЛІКУ ВИРОБНИЧИХ ЗАПАСІВ ПІДПРИЄМСТВ

The article studies some topical aspects of improving the organization of production inventory accounting, in particular, the issue of identification of this accounting category and the problems of accounting valuation of production inventories. The key components of the identification of the accounting category “production inventories” are determined. The author’s own definition is presented and substantiated, according to which production inventories are stocks (i. e., tangible current assets) held by an enterprise for the purpose of further one-time consumption (which will lead to a change in their natural and material form) in the process of production of products (works, services), maintenance of equipment, organization of management and marketing of products (goods). The article analyzes the issues of valuation of production inventories disposal. A comparison of the results of estimating the disposal of production inventories in the context of inflation using three main alternative methods of evaluation of disposal – the FIFO method, the weighted average cost method with price recalculation once a month and the weighted average cost method with price recalculation for each disposal. It is established that the use of the FIFO method in the context of inflation allows minimizing the accounting valuation of the disposal of production inventories, which in turn leads to maximizing the accounting valuation of the financial results of the reporting period and the value of inventory balances at the end of the period and, accordingly, improves the financial condition, increases the creditworthiness and investment attractiveness of the enterprise according to the financial statements. In terms of taxation, on the contrary, it is more attractive to use the weighted average cost method with prices recalculated once a month, since this method allows for a completely legal temporary optimization of the tax burden in terms of income tax in the conditions of inflation. The weighted average cost method with price ...