Fair value measurement of inventories and property, plant and equipment in the Russian accounting of organizations that are not budgetary sphere organizations: scope and features of formation

The Federal Accounting Standard (FAS) 5/2019 “Inventories” provides for a fairly broad application of fair value measurement of the inventories of non-budgetary sphere organizations (including healthcare organizations). An even more active use of fair value is suggested by FAS 6/2020 for the measurement of property, plant and equipment of the aforementioned organizations. The specified value is entered into the domestic accounting of the listed assets for the first time and is unusual for many Russian accountants. All this indicates the relevance of a detailed study of issues related to the fair value measurement of inventories and property, plant and equipment of the aforementioned organizations. In this article, the scope and features of the formation of this measurement are investigated. Other issues related to this measurement will be analyzed by us in the next article. The research methods were analysis and synthesis, grouping method, comparison, analogy method, logical approach, systemic approach. As a result of the research carried out, the article defines the scope of the fair value measurement of inventories and property, plant and equipment in the Russian accounting of organizations that are not budgetary sphere organizations, analyzes the features of the formation of such a measurement of these assets, identifies the most important problematic issues in this area and identifies ways to solve them.