Automation of calculation of impairment allowance for inventory in 1С
“Inventories” new federal standard
New federal standard FSBU 5/2019 Inventories (approved by Russian Ministry of Finance Decree No. 180n dated November 15, 19) has been applied since 2021. Under the new rules, inventories must be valued at the lower of the following two values:
- Actual cost
- Net sale value
If the actual cost of inventories exceeds the net sale value, impairment allowance for inventory should be made and adjusted when the net sale value changes.
Automation in 1С
There are no in-built tools for reliable automating these calculations in 1С. Our experts can automate this process in your 1С system taking into account the particularities of your company’s accounting. Please feel free to contact us for a consultation.