Review of the new Federal Accounting Standard FAS 5/2019 "Inventories" and recommendations for the application

On 1 January 2021, the Federal Accounting Standard "Inventories" (FAS 5/2019), approved by Order of the Ministry of Finance of the Russian Federation of November 15, 2019, No. 180n, came into force.

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FAS 5/2019 can be applied by companies retrospectively or prospectively. With the prospective application of FAS 5/2019, a change in comparative data for previous reporting periods is not required; with a retrospective application, comparative data should be changed.

For your convenience, we have developed a program for the transition to FAS 5/2019, which includes an analysis of changes in FAS 5/2019 compared to Accounting regulation 5/01 "Inventories", as well as information on the transition to the new standard.

For your convenience an Excel version of the file is provided upon request via email: 

We will be happy to advise you on this matter and provide any additional information that may be helpful to you at this stage.

Information was prepared by Quality control and Methodology Department, Mazars.

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Transition to FAS 5/2019 (in Russian)
Transition to FAS 5/2019 (in Russian)