Researcher of Tashkent Institute of Finance,
Abstract. This article deals with the implementation of international accounting standards based on the achievements of European practice – international financial reporting standards. The main achievements in integrating the national accounting system into the world community are revealed. Recommendations and fundamental conclusions have been developed on priority areas for further reforming the accounting of inventories based on international IFRS standards.
Key words: inventories, management accounting, international financial reporting standards, valuation methods, financial reporting.