Accounting of stocks according to Azerbaijan National Accounting Standards and recommendations

With the increase in the effects of globalization on science and technology, it has also provided the liberalization of capital mobility on an international scale. In this context, the existence of a uniform accounting standard has become inevitable. In order to continue their activities in increasing market conditions, businesses have gone out of the country in which they operate and opened up to the world and continued to operate in the international arena. International trade has reached a high level largely as a result of this interaction. This situation necessitates the application of a common reporting style and a uniform standard accounting system for the financial reports presented by the enterprises. In order to apply a common accounting standard, International Accounting Reporting Standards and the International Accounting Reporting Standards have been issued by the International Accounting Standards Board and Azerbaijan National Accounting Standards, which is compatible with this standard, has been started to be used in our country. Inventories are one of the most important asset items that enable businesses to maintain their effectiveness in production and trade on a regular basis. It obligatorily focuses on the accounting records, reporting and valuation of inventories in enterprises. Due to this importance of stocks, in this thesis, first of all, the definition, scope, development and accounting of the stock's standard of the Azerbaijan National Accounting Stocks 8 Standard are discussed. Within the framework of the provisions of the Inventories 8 Standard, the effects on the financial statements have been tried to be revealed. Keywords: International Accounting / Financial Reporting Standards, Azerbaijan National Accounting Standards, Stocks, New Accounting Plan.