THE DRAWBACKS OF IFRS: DISCLOSURE OF INFORMATION ABOUT INVENTORY

Abstract

This article is the third in the cycle of articles about the drawbacks of the International Financial Reporting Standards (IFRS). This cycle aims at exchanging opinions and discussing the possible ways to improve the IFRS.This article is the last in the cycle of articles about the drawbacks of IAS 2 “Inventories”. The first article focused on defining what inventory is, the second one discuses the problem of their valuation. In this paper the authors criticize the recommendations of IAS 2 “Inventories” about disclosing information about inventory in financial reporting.

Keywords

• недостатки мсфо
• практика применения мсфо
• запасы
• затраты
• себестоимость
• рас- ходы
• раскрытие информации в отчетности
• drawbacks of ifrs
• practice of ifrs application
• inventory
• expenses
• cost price
• costs
• disclosure of information