Modern problems of determining net realizable value in RAS and IFRS and ways to solve them

Thanks to the Federal Accounting Standard (FAS) 5/2019, net realizable value was introduced into Russian accounting for inventories. A similar value is also used in IAS 2. Despite the relatively long period of use of the specified value, its estimation still raises a number of questions when accounting and reporting according to both Russian and International Standards (hereinafter referred to as RAS and IFRS). These problems and ways to solve them are analyzed in this article. When carrying out research, methods such as analysis and synthesis, grouping method, comparison, analogy method, logical approach, systematic approach were used. As a result of the research carried out in this work, the main modern problems associated with determining the net realizable value in Russian and international accounting have been identified and proposals for their solution have been substantiated. The results obtained in this article will be useful to a wide range of readers interested in current issues relating to the regulations of RAS and IFRS, including the calculation of the net realizable value of inventories, can be used in the educational process of higher educational institutions, in the practical work of accounting departments of modern organizations, as well as in development and improvement of relevant domestic and international accounting standards.