This article analyzes the contemporary problems of accounting reserves in small and medium-sized business. The author considers the ratio of the theoretical approaches of Russian and international standards to the definition, recognition criteria and evaluation of reserves. The interpretation of “inventories” category in Russian standards compared with the characteristic of the concept of “reserves”, as set out in IFRS (IAS) 2 “Inventories” and IAS (IFRS) for small and medium-sized business. So we make a conclusion of a major difference of the economic content of these concepts in systems of Russian and international standards, the classification of reserves. The requirements of IFRS (IAS) 2 “Inventories” IAS (IFRS) for small and medium-sized business to stock assessment were analyzed, their identity were revealed. We formulated significant differences in the rules of reserve estimates and reporting systems for admission to international and national standards. The author offers recommendations to ensure the accuracy of inventory information in the accounting and reporting of small and medium-sized enterprises. A conclusion on the absence of simplified procedures of stocks reflection in the accounting for small businesses in the Russian legislation and in the international standards was stated. The article justified the necessity of improving the methods of accounting and reporting for small and medium-sized enterprises, in accordance with international standards, the development of a simplified set of accounting principles - the Russian standard for small and medium-sized business.