Every enterprise, sooner or later, is faced with the need to verify the actual availability and condition of goods or fixed assets with the data reflected in the accounting records. The reasons for this can be very different, from a mandatory scheduled inspection to discovered facts of theft of property. In any case, an inventory must be taken. You will learn from this article what it is, what types of it exist, how it is carried out and how it differs from an audit.

Basic concept

Inventory is a set of measures taken to account for and control the actual availability and condition of an organization’s property. Fixed assets may be subject to inspection, finished products, raw materials for production, tangible and intangible assets and much more.

Kinds

Depending on the frequency, inspections are usually divided into mandatory, which must be carried out in accordance with the law, and unscheduled, which occur on the initiative of the enterprise management.

The reason for conducting an unscheduled inventory of property may be:

• change of financially responsible person;
• lease of an asset;
• recorded abuses;
• deterioration of the condition of goods, entailing a decrease in their value;

They are also classified according to the degree of coverage into complete, when all property is subject to inspection, and selective, when a specific type of property is compared. And finally, according to the method of implementation, there are natural, when everything is recalculated and checked manually, and documentary, when the object of verification is the correctness of display in accounting.

What is it for?

In addition to the main function of accounting and control, additional goals are simultaneously pursued, such as:

1. Monitoring the correct display of property on the balance sheet.
2. Monitoring compliance with storage and operation rules.
3. Monitoring that a product maintains its quality characteristics.
4. Identification of property not involved in economic activities.
5. Identification of fixed assets with expired or expiring shelf life.

Procedure and timing

The choice of the procedure and timing of the inventory is entirely the prerogative of the head of the organization, except in cases regulated by law.

The basic rule is that passing the inspection should not negatively affect the daily activities of the enterprise.

What is technical inventory?

During a technical inventory, the object of inspection is real estate, its characteristics and condition, as well as operating features. It is mandatory in cases of redevelopment, transition to a different operating mode, change in the level of engineering improvements or other quality indicators.

This procedure must be performed at least once every five years in accordance with current legislation.

Difference between inventory and audit

The main difference is the purpose of the event. The purpose of the audit is to identify the legality of the operations carried out by the organization. The appointment of audits is the prerogative of external regulatory bodies, which do not coordinate the start and timing of the audit with the management of the enterprise in any way and do not inform about the audit in advance.

Inventory, what is it? in simple words- This is a recalculation of everything contained on the balance sheet of the enterprise. All property is counted, from buildings and raw materials to office supplies. Such an inspection reveals deficiencies, thefts and surpluses. It is not difficult to carry out if you prepare correctly.

Definition

Every company should carry out such calculations regularly. This is the main method of monitoring and accounting for everything that is in the warehouse. The actual balances will depend on how well and carefully employees work with property assets.

fixed assets;

production inventories;

financial deposits;

intangible assets;

manufactured and created products;

• other tangible and intangible elements on the balance sheet.

Inventory is the determination of actual balances and the identification of discrepancies between the fact and the documented one.

All changes must be taken into account in management and accounting. Each thing has a financially responsible person. If the storekeeper accepts goods for storage, he is responsible for them. The changes are reflected in the program, the accounting department sees them all:

• write-offs;

Every month or another equal period, it is necessary to carry out re-accounting in order to know about the reliable volumes of goods, raw materials and other valuables.

In a simplified form, the calculation looks like this:

Balance at the beginning of the period + quantity received – materials consumed = result at the end of the period.

To find out the first number, print out the available data from the program. If program accounting is not maintained, then information from the previous recalculation procedure is taken up.

Basic legislative documents

There is a special regulatory order that determines in what order and on what rules the procedure is carried out. This is the condition of the Minister of Finance issued on June 13, 1995. Document number No. 49.

Why is inventory carried out?

This event has several goals:

Determination of the actual amount of property registered with the organization. The point is to find unaccounted for, shortcomings and mis-grading, as well as to check the condition.

Comparison of actual inventory sizes and other things with databases. We need to find the differences and the people responsible.

Alignment. To further economic activity was carried out correctly and without errors.

Control of accounting completeness. How completely is everything that is in the company reflected in the system.

Monitoring compliance with the rules for the use and storage of fixed assets.

Inventory is a check of the condition of all the company’s assets, reflecting the correctness of changes and storage conditions.

How restatements benefit employees and the company as a whole

In most cases, real and regular counting allows for timely identification of employee abuse, inattention and irresponsibility.

If recounts are carried out only on paper, they will be of no use. These are meaningless protocols and statements that simply lie piled up in the archive. Only real events make sense.

Subordinates will create fictitious documentation in two cases if:

overloaded with main work;

carry out fraud with entrusted valuables.

To increase the percentage of valid recalculation in the first case, you need to allocate an employee who will deal only with this. This may be an internal person temporarily relieved of direct duties, or an external invited auditor. This way you can count everything as accurately as possible and add up the leftovers. An attempt to simply load workers with additional tasks can result in incorrect data and poor-quality calculations and poorly completed basic tasks during the day.

In the second case, inconsistencies can only be identified by outside experts. All attempts to conduct a recount on your own will not produce valid results. These are just unsubscribes and filled out papers with made up numbers.

Varieties

Inventory is a way to compare real balances with those reflected in the database. This is control of the availability and safety of property through double-checking and manual recalculation. Eat different types procedures depending on the tasks facing the company. Complete or incomplete, planned, control or repeated. It can be initiated by inspection bodies or managers, cover only one division or the entire company.

By purpose

Divided depending on events:

Planned. It is carried out according to the calendar and the order signed in advance. They prepare for it and know about it several months in advance. The schedule is approved at the beginning of the year by the manager.

Unscheduled. Such an inventory is a way to determine the presence and size of thefts and arrears. She is appointed when a person in charge changes in order to transfer responsibility to the new employee. Carry out after natural disasters, fires, pipe breaks.

Repeated. It is started if there are doubts about the results already obtained and the documents compiled. If there are suspicions about the persons in charge, about their objectivity and quality of work.

Test. Organized immediately after the scheduled one to check the quality of the recount. A prerequisite is to conduct it before the opening of the premises.

There may be one type or several. Each is legal and justified, initiated not only by the head of the entire company, but also by the head of the department, as well as by inspection authorities.

By volume

Inventory is a check of the state of the organization's values. She may be:

Full. Once a year, the company must conduct an audit of everything it has. This is necessary to create an annual accounting report. Formed in relation to the financial assets of the enterprise, materials, goods and interactions with other persons.

Partial. Covers division, department, direction. Can only be carried out at the cash register, in the warehouse, even in a selected type of product. Often appointed during a change of responsibility for everything that was managed by the previous employee in this position.

By coverage

What does an inventory mean if it is carried out correctly - a correct report in which all the real indicators of those on the balance sheet will be presented, right down to the pen of the junior secretary. Management will be able to analyze the current situation and adjust the work of each unit separately or the entire organism as a whole.

Depending on the size of the event, verification may be:

Selective. Individual values ​​assigned to a person are checked. It is practiced in organizations with a large assortment and a wide range of services or in a company with branches at different addresses.

Solid. It is carried out everywhere, even if the company has several branches and subordinate departments. Each has its own commission and inspectors; this may be an invited auditor.

According to the obligatory

Not only the head of the company can approve the need for a procedure and set a date for implementation. Accounting is necessarily divided into:

Required. It is carried out in accordance with the legislation of the country.

Initiative. Organized by decision of the director.

By method

Inventory, what does it mean? This is a way to check which balances match the virtual ones in the program and which ones are different. This is how it is determined which employees work efficiently and which ones work irresponsibly. With the help of recalculation, you can identify theft in the workplace, surpluses and warehouse workload volumes.

Accounting can be:

Natural. When the workers actually went and completed the task, everything was calculated, documented and taken into account. If this is done regularly, then the information in the program reflects the real picture, and the work of all parts of the organization will be effective.

Documentary. When employees search for confirmation of the presence of a type of goods or financial assets in documents.

Inventory Law

The main document regulating the procedure and timing is the order of the Ministry of Finance. Also, the list of obligations is enshrined in the Federal Law “On Accounting”. According to these documents, an audit of all balances is necessary if:

a year passed before reports were compiled;

the financially responsible person has changed;

the fact of theft, damage, abuse of position was established;

the company is closed or reorganized;

it is planned to rent out the property, sell it, transfer it;

the enterprise is being transformed;

there was a fire, flood, or other natural disaster.

Responsibility for compliance with these laws lies with the head of the company and the accountant.

In what order and when does it take place?

Usually the head of the company sets the date and timing of the inventory. If the recount is formed on the initiative of the regulatory authorities, then they assign the determination of the numbers to be carried out and transfer them to the persons being inspected.

Procedure

Inventory takes place in 4 stages:

Preparatory - when they prepare necessary documents, forms to be filled out, a commission is formed, deadlines and dates are set.

Counting - employees or an inspection body count, weigh, and search for the real amount of valuables.

Comparative – the fact is compared with the plan, discrepancies are confirmed, and the reasons for the differences are identified.

Final – the perpetrators are punished, the data in the database is updated, the results are documented.

During the last stage, unscrupulous employees are punished only after rechecking the calculations.

Who conducts

We have already mentioned that the implementation of the entire action can be carried out by an internal employee or an outsourced one. The inventory commission will control the process. These are the people chosen by the leader.

The position is not listed in work book. The composition usually includes:

employees of the enterprise;

representatives of management positions;

accounting employee;

head or master of financial, engineering, legal or other services;

in stores there is additionally a leading specialist in the economic security department.

The composition includes members of the internal audit unit, external external auditors, and representatives of regulatory authorities.

Papers compiled during the process

Each procedure is carried out according to standards. Acts, inventories, statements are filled out. After writing them, it will be easier to analyze the current situation.

Document table

The need to fill out paperwork depends on the industry and the presence of assets on the balance sheet. List of forms that are needed most often:

Name	Form code
Inventory of fixed assets	INV-1
Label	INV-2
Inventory of goods and materials	INV-3
Certificate of goods that were shipped	INV-4
Inventory of goods and materials in safekeeping	INV-5
Act of values ​​on the way	INV-6
An act of accounting for fixed assets whose repairs have not been completed	INV-10
Act of inventory of future expenses	INV-11
Checking the amount of cash	INV-15
Inventory of securities and forms	INV-16
Certificate of verification of the correctness of accounting of settlements with suppliers and clients	INV-17
Comparison statement with the results - how the recalculation of fixed assets went	INV-18
Matching sheet - results of recalculation of inventory items	INV-19
General statement for reconciliation and summing up	INV-26

If everything was done correctly, the INV-24 form is drawn up, where all changes are entered.

Businessmen and workers of large industries are constantly faced with the need to take inventory; this is not a pleasant procedure, but it is periodically...

Inventory is... Definition, types of inventory, meaning and procedure

From Masterweb

11.05.2018 05:00

Businessmen and workers of large industries are constantly faced with the need to take inventory. This procedure is not a pleasant one, but it must be performed periodically in order to know everything about the current state of the organization. Often this functionality has to be performed by accountants together with employees who are financially responsible for this or that property within the enterprise.

What is meant by this process?

Inventory is a check of all property of the enterprise for its availability, as well as financial obligations, which he has as of a particular date. This procedure is carried out using accounting data and information on the actual availability of certain units of goods or services.

Managers are required to compare the data they have; as a result of this procedure, they will be able to obtain an overall picture that allows them to draw conclusions regarding the work of certain employees or mechanisms of the enterprise. Also, with the help of inventory, you can achieve complete safety of the organization’s values ​​and funds used in work.

What do they think?

Trade workers are quite sensitive to inventory; they are usually financially responsible for the goods or services they offer to the public, so if a shortage is discovered, they can be in serious trouble. Entrepreneurs and government agencies approach financial issues quite scrupulously and, when hiring, immediately include a “material responsibility” clause in the employment contract.

In addition to goods and services, various intangible assets, money, investments, and other inventories may be subject to recalculation. If we talk about liabilities, this includes loans, accounts payable and reserves. As a rule, all of them are formalized in appropriate agreements with banks, and the latter, as a rule, are quite strict about late payments and various difficulties with payments.

Why do you need to recount?

Carrying out an inventory has a number of purposes, the main one of which is to identify the actual amount of property the organization has. Often, it is with its help that you can find goods and services that are available but not included in accounting calculations; the reverse situation is similar. All unaccounted for objects must be immediately taken into account for further correct accounting.

In addition, this procedure can help to understand the actual amount of resources that have to be used to create marketable goods and services. If there are too many of them, the organization’s management may think about repurposing their own work, as well as ways to reduce the cost of production and generate more revenue.

How does taking an inventory help?

With the help of recalculation, organizational leaders can also check the correctness of the actions of their employees, whether they are truly keeping records of available capacities and monetary obligations. In addition, it is possible to evaluate existing material resources at market prices based on their actual condition, and then sell them. For example, if during the inventory it was revealed that a number of premises are not used for their intended purpose, then the management of the enterprise may try to overload them with work or sell them as unnecessary assets.

The procedure also helps to check the condition of the enterprise's main capacities and whether intangible assets are used correctly. As a rule, after taking inventory, various transformations begin at the enterprise, sometimes it even comes to staff reduction.

What types of recalculation are there?

Property inventory is a procedure that no enterprise can do without. Depending on the volume of recalculation, it can be divided into partial and complete. The first is most relevant for large enterprises that have several divisions involved in the sale of goods and services. In small stores, the recount of goods usually takes place once a week; in large chains, this procedure is carried out at night with regularity once a month.

There must always be grounds for such a check. From this point of view, inventory is divided into planned and unexpected. The first usually goes quite smoothly, but there is a certain risk that the inspectors will not see the true state of affairs in the organization, since financially responsible persons can correct existing reporting and pass it off as correct. A sudden check is more objective; with its help you can identify shortcomings and prevent their further occurrence.

In what cases is inventory necessary?

The top management of the enterprise determines the inventory procedure, as well as the timing of its implementation. In the event of a sudden inspection, it does not notify those responsible for the property in advance. Recalculation is necessary at the time of formation annual reports accounting staff of the enterprise, when identifying theft of property or its serious damage.

This procedure is also necessary when the company’s products and its property are leased or sold. A change in employees financially responsible for property and a change in the format of the organization (including liquidation) are reasons for conducting an inventory. Quite rarely, a situation arises when a recount is necessary due to emergencies and natural disasters that negatively affected the work of the organization.

How can an accountant prepare for an audit?

If you recently started working at a company as an accountant and inventory is looming ahead, samples of acts and inventories may be useful for carrying out this procedure. Their creation is regulated Federal law No. 402 “On Accounting”, which was published in December 2011 and since then has been one of the most important documents for specialists carrying out this procedure.

In his work, an accountant can also rely on Order No. 49 of the Ministry of Finance, issued in June 1995, which contains a number of recommendations for conducting an inventory taking into account the financial obligations of the enterprise. At the same time, the manager carrying out the inspection must constantly be aware of events, and for this it is necessary to study the explanatory documents of the Ministry of Finance, which are issued approximately once every one and a half to two months.

Where does the recount begin?

Inventory of the main capacities of any enterprise is carried out in several stages. The first of them is preparatory, which consists of creating an order on the need to carry out this procedure, as well as the formation of a commission that will deal with the recount. This internal organ usually includes the immediate supervisor of the financially responsible persons, an accountant, and also the head of the enterprise.

In parallel with this, the timing of the inventory is determined, as well as the types of property that are planned to be counted. During this same period, the formation of receipts and other documentation planned for use in recalculating available capacities, goods and services takes place.

What is direct inventory?

Recounting, taking measurements, weighing is the next stage of inventory; in this case, a wide variety of tools are used: software, calculators, specific documentation (inventory), etc. Particular attention in this case is paid to checking the availability of goods that should be available in the future implemented to make a profit for the company.

When everything has been calculated, the busy time comes for accountants; it is they who must reconcile the calculations made with their own data. Since financial specialists of companies usually work in 1C, they ask that inventories be compiled in electronic format to save time. They are the ones who usually find discrepancies, after which they begin to search for the reasons for the discrepancies.

What happens to the final calculation results?

The final stage of this procedure is the inventory act, which indicates the maximum detailed information about the calculations carried out. In this case, the accountants fairly objectively reflect all the identified shortcomings, and also indicate all the persons who should bear the corresponding administrative responsibility. As a rule, a recount of property always reveals a number of shortages or surpluses; in cases where the former are covered by the latter, no one has any complaints.

As a result, all commission members are required to sign a final protocol, which will reflect detailed information about the results of the audit. Next, the management of the enterprise or division in which the inventory was carried out forms an order approving its results. This document indicates the results of the inspection, identified deficiencies or surpluses, the need to strengthen control over the safety of property, as well as the time frame for eliminating the violations found.

Can employees be punished?

Based on the results of the inventory, the management of the enterprise makes a decision on administrative action in relation to the employees financially responsible for the property. As a rule, if the organization has suffered significant damage, most often the procedure ends with the dismissal of the employee with subsequent compensation for losses. If the amount of the shortfall is too large, a criminal case of theft may be filed, and all those responsible may go to jail.

Most often, organizations prefer to negotiate amicably with their subordinates and do not enter into an open legal conflict. If the financially responsible employee does not agree with the results of the inventory and does not intend to compensate for the losses he caused to the organization, he has the right to appeal the commission’s decision.

How are the results reflected in general accounting?

Since inventory is a rather labor-intensive process from an accounting point of view, in most cases the management of the unit tries to do everything not to reflect the identified deficiencies in the documents. The shortage can be treated as a write-off value of property that has fallen into disrepair. Then this amount can be included in the calculations for the main production.

If, as a result of the inspection, it was decided that the shortage will be compensated by the financially responsible person, this information is indicated in the final documents and an order is drawn up, which is signed by the head of the department. All surpluses are taken into account and further financial planning is carried out taking them into account.

What is the benefit of conducting an audit?

According to managers, inventory is an additional way to manage a team and an organization, which can provide a large number of benefits. First of all, we are talking about preserving all material assets institutions. In parallel with this, you can also identify those products that have already expired or are about to expire.

Another advantage of conducting an inventory is that management can see the assets that are this moment are not useful and can be abolished. All weak spots immediately become visible to managers after an inspection; this statement also applies to ineffective employees, this is especially true for those who are not able to provide high-quality control over the condition of the goods, their safety and timely sale.

Existing legislation allows for any number of inventories to be carried out during a calendar year. Trading companies prefer to check their employees quite often, since a late response to their poor performance can bring huge losses to the organization. It is important that legally binding agreements are signed between the company and its employees, otherwise it will not be possible to make any financial claims against the erring specialists.

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One of the main requirements requirements for accounting are its indicators.

However, during the storage and release of inventory items, discrepancies may arise between the actual availability and the accounting report data, which are not subject to daily accounting. the situation is possible, for example, as a result of malfunction of measuring instruments, erroneous records, loss of documents, oversight of financially responsible persons, etc. In this regard, there is an objective need for a control method that would provide the ability to take into account discrepancies between the report data and actual availability of economic assets. Delivery can be achieved through inventory.

That is, inventory is a unique way of identifying, with subsequent accounting, economic assets and sources of their formation that are not formalized by current documentation, to ensure the reliability of indicators accounting and enterprise reporting in .

An inventory is carried out by checking the availability of property (economic assets) of the enterprise and comparing the results obtained with accounting data. This makes it possible to establish discrepancies between accounting data and the actual availability of funds, which are drawn up with the appropriate documents and displayed in accounting.

Periodic inventory taking is not only a means of clarifying accounting indicators, but also a means of combating the oversight of financially responsible persons, as well as streamlining warehouse management, since when conducting an inventory, they simultaneously check the storage facilities, the correct storage of material assets, and the working of measuring instruments.

An inventory of financial settlements helps clarify settlement relationships with debtors and creditors and strengthen financial discipline.

It should be noted that inventory can be complete or partial., depending on the completeness of the inspection coverage of business assets.

A complete inventory involves checking all the property of the enterprise and the state of settlement relations. Partial inventory covers certain types of funds: cash in the cash register, finished products in warehouses, etc. A full inventory is carried out, as a rule, before drawing up an annual report, as well as in cases provided for by current legislation: when there is a change in financially responsible persons, privatization of state-owned enterprises, etc. It is clear that it provides the most complete information, but it is not always appropriate, since it is quite labor-intensive and distracts a large number of employees from performing their main duties.

It is also necessary to distinguish between planned and unscheduled inventory. Planning is carried out according to a pre-drawn plan in accordance with a developed schedule, for example, before drawing up an annual report. Unscheduled inventory is carried out by order of the manager (at the request of the inspection body, in cases of fire, natural disaster, etc.).

The most effective is a sudden partial inventory, since it forces financially responsible persons to capitalize and write off material assets on time, store them correctly and prevent abuse.

The procedure and timing of inventory at enterprises and organizations of all forms of ownership are regulated by instructions for inventory of fixed assets, intangible assets, inventory items, Money that of calculations, approved by order of the Ministry of Finance of Ukraine dated August 11, 1994 No. 69.

Inventory periods, the timing of their implementation, the list of property and payments subject to inventory during each of them are determined by the head of the enterprise, except in cases where such an inventory is mandatory:

· when transferring property of a state enterprise for rent, privatization of property of a state enterprise, state enterprise in and in other cases provided for by law;

· before drawing up the annual financial report, but not earlier than October 1. At the same time, an inventory of buildings and other immovable fixed assets can be carried out once every three years, and library collections– once every five years;

· when financially responsible persons change. carried out on the day of acceptance and transfer of cases;

· in case of established facts of theft, abuse or damage to valuables;

· by decision of judicial investigative authorities;

· in cases of accidents, fires, natural disasters, liquidation of an enterprise.

Inventory at the enterprise is carried out by a special commission headed by the head of the enterprise or his deputy with the obligatory participation of the chief accountant and financially responsible persons. The composition of the commission, inventory items, and its implementation are determined by order of the head of the enterprise. The manager of the enterprise is also responsible for its timely and high-quality implementation.

Inventory is carried out, as a rule, for the first month, since in this case it is easier to compare its results with accounting indicators. If the inventory of individual valuables cannot be completed in one, then it can begin before and end after the first number, and the inventory data can be adjusted by state to the first number.

Before the inventory begins, material assets in warehouses must be grouped, sorted and arranged by name, grade and size in an order convenient for counting.

Before the start of the inventory, accounting employees must complete the processing of all documents regarding the receipt and issuance of material assets, and determine the surplus in the accounts on the day of the inventory.

Financially responsible persons, before the start of the inventory, give a receipt that all documents have been submitted to the accounting department and that there are no valuables that have not been capitalized or written off. After this, no documents will be considered.

Inventory of material assets carried out at the place of their storage in the presence of financially responsible persons. When making an inventory of material assets that are stored in untouched supplier containers, it is allowed, as an exception, to determine their quantity from documents, about which appropriate notes are made in the inventory list. Inventory data for each type of material assets is entered into inventory sheets, which are prepared in duplicate. After completing the inventory, they are signed by all members of the commission. One inventory remains with the financially responsible person, the other is transferred to the accounting department. Valuables that do not belong to the enterprise, but are at its disposal or in custody, are recorded in a separate inventory sheet. For all damaged valuables identified by the inventory commission, they are written down, which indicate the reasons and persons who allowed the property to be damaged.

When checking the availability of funds in the cash register, only the actual availability of money is taken into account. No documents or receipts will be included in the review.

Checking the status of settlement relationships with other enterprises and organizations is carried out according to documents. Enterprises exchange statements from special accounts of debtors and creditors, which are sent by creditor enterprises to debtor enterprises. The latter must confirm the debt or express their disagreements within ten days. Therefore, only the agreed amounts should be shown in the accounts receivable and payable accounts. In some cases, when at the end of the reporting period discrepancies are not eliminated or remain unclear, settlements with debtors and creditors are displayed by each party in its balance sheet in the amounts that appear in the current accounting records and are recognized by it as correct. If necessary, cases regarding unsettled debt amounts are referred to the judicial authorities.

Debts on settlements with banks, tax and financial authorities should be shown on the balance sheet only in the agreed amounts.

Unsettled amounts of debt, amounts of debt for which the statute of limitations has expired, and also identified as uncollectible during the inventory, are recorded in a separate inventory list and the reasons for their occurrence and those responsible are indicated.

The completed inventory lists are transferred by the commission to the accounting department, where the actual balances of material assets recorded in inventories are compared with accounting data and surpluses and shortages of assets, if any, are identified. Material assets for which discrepancies with accounting data are identified are recorded in a comparative statement, and financially responsible persons must provide the inventory commission with written explanations regarding the reasons for their occurrence. He formalizes his conclusions and proposals for resolving inventory differences in a protocol and submits them to the head of the enterprise for approval. The manager must decide whether to capitalize surpluses or write off shortages of valuables and approve the protocol within five days.

It should be borne in mind that the amount of loss caused to the farm due to shortage and damage to material assets, which is subject to compensation by financially responsible persons, is determined in accordance with the Procedure for determining the amount of losses from theft, shortage, destruction (damage) of material assets, approved by the Cabinet of Ministers Ukraine dated January 22, 1996 No. 116 (with subsequent amendments and additions). In accordance with this Procedure, the amount of damages is determined by material assets of the same name. However, if, during offset, the cost of the shortage of material assets exceeds the surplus, then the difference in value is subject to compensation by the persons who allowed such a situation.

The inventory results are displayed in the accounting report within ten days, after which its indicators are brought into full compliance with the actual availability of business assets and the state of settlement relations.

Types of inventory

The organization, taking into account the specifics of its activities and the tasks that need to be solved during the inventory, uses different kinds inventory.

According to frequency in accordance with accounting policy Organizations distinguish between planned and unscheduled inventory.

Planned inventory is carried out in accordance with the plan of control and audit work of the internal control body (audit commission, internal audit) and the accounting policy of the organization, as well as when the inventory is required by law. Planned inventories also include annual inventories carried out before drawing up the annual report.

Unscheduled (sudden ) inventory (the implementation of which is not provided for in the accounting policy and the plan of control and audit work) are carried out by external auditors when conducting an audit (mandatory or initiative) in a given organization, by internal auditors of the audit commission, auditors of the audit service, the inventory commission of the organization when identifying violations of the law, but signals personnel, upon detection of doubtful business transactions and etc.

Depending from the completeness of coverage of property and liabilities Organizations distinguish between full and partial inventory.

Complete inventory - This is a physical verification of all the organization’s property and its liabilities as of a certain date. A complete inventory is carried out before compiling the annual financial statements, during the reorganization of an economic entity, etc.

Partial (selective) inventory is each separate verification in kind of objects of certain types. For example, inventory of materials in a warehouse, inventory of cash in the cash register, etc.

A selective inventory of the availability of inventory items can be carried out in cases where a violation of the order and timing of the inventory is detected, as well as the facts of write-off of material assets due to illegal transactions or incorrectly executed documents are established.

The organization independently decides on the issues of conducting a full or partial inventory and reflects this in the order on accounting policies based on the requirements of current legislation.

By method distinguish between natural and documentary inventory.

Natural inventory consists of directly observing objects and determining their quantity by counting, weighing, measuring, etc.

Documentary inventory consists of checking documentary evidence of the presence of objects.

The procedure for conducting and documenting inventory

All types of property and financial obligations are subject to inventory.

An inventory of property is carried out for each of its names and in the context of financially responsible persons.

All work on conducting an inventory is assigned to the audit commission, working or permanent commissions.

The composition of the inventory commission is approved by the head of the enterprise, including representatives of the administration, accounting and other specialists (technologists, economists), and employees of the internal audit service may also be involved.

The essence of the work of the inventory commission is to compare the actual availability of valuables in kind with accounting data. The results of the inventory are reflected in the comparison sheet, and it also reflects the procedure for regulating inventory differences.

The chief (senior) accountant is responsible for the correct documentation of inventory. Therefore, careful preliminary preparatory work is necessary before starting an inventory.

The inventory commission draws up a calendar plan for conducting an inventory and distributes the work between individual intermediate groups (teams) of the commission.

Each intermediate group (team), depending on the object of inspection, develops a detailed program for conducting an inventory of specific objects and distributes the work among group members. In each group, a senior (foreman) is appointed (selected), and for the inventory commission as a whole, the chairman of the commission is elected from its members.

The head of the organization and the chief (senior) accountant instruct members of the commission about the goals, objectives and procedure for conducting an inventory.

The organization's accounting department prepares all the necessary document forms for conducting an inventory (inventory lists, matching statements, interim acts, etc.).

By the beginning of the inventory, all records and account balances in the analytical and synthetic accounting registers must be carefully verified, and all document data must be recorded in the registers.

Inspection of material and production assets, cash and non-current assets is carried out at the place of their storage, always in the presence of persons responsible for the assets being inspected.

The general procedure for conducting an inventory and recording its results is determined by the Methodological Instructions for Inventory, and the resolutions of the State Statistics Committee of Russia dated August 18, 1998 No. 88 and dated March 27, 2000 No. 26 approved unified forms for recording inventory results.

The procedure for conducting an inventory in an organization is drawn up in the form of an appendix to the order on accounting policies, which includes:

• – schedule for scheduled and unscheduled inventories in the reporting year;
• – dates of scheduled inventories;
• – a list of property and liabilities checked during each inventory.

Inventory objects speakers:

• fixed assets;
• intangible assets;
• financial investments;
• productive reserves;
• finished products;
• goods;
• other supplies;
• cash;
• other financial assets;
• accounts payable;
• bank loans;
• loans;
• reserves.

Each organization is required to create a permanent inventory commission. It includes representatives of the administration, accounting workers, as well as other specialists (engineers, economists, technicians).

The commission may also include representatives of the organization’s internal audit service or independent audit organizations.

The organizational and control functions of the permanent commission include conducting scheduled as well as random inventories and control checks during the inter-inventory period.

To carry out an inventory, an organization can also create working and one-time commissions.

Working commissions directly carry out planned inventories of material assets and funds in places of their storage. They are usually created when there is a large volume of work or territorial dispersion of property for the simultaneous inventory of property and financial obligations.

One-time commissions(in each specific case the composition of the commission is approved by the head of the organization when conducting an inventory, as necessary) conduct random inventory checks.

An essential rule for all inventories: the absence of at least one member of the commission during the inventory serves as a basis for declaring the inventory results invalid.

Before conducting an inventory, it is important to make sure that the organization has a clearly organized warehouse and access control system. To do this, the inventory commission is recommended to check the following facts:

• – whether the organization’s territory is protected, whether the premises are equipped with fire and security alarms;
• – whether agreements on full individual or team financial responsibility have actually been concluded and correctly drawn up with employees to whom valuables have been transferred for preservation and use;
• – whether the positions of financially responsible persons correspond to the approved list of positions and works replaced and performed by employees with whom the organization can conclude written agreements on full financial responsibility;
• – whether conditions have been created for financially responsible persons to ensure the safety of material assets, whether there are lockable storage rooms, cabinets, safes, containers for storing valuables;
• – whether the storage areas for material assets are equipped with the necessary measuring instruments;
• – is there control over the procedure for removing valuables from the organization and issuing powers of attorney to receive them;
• – whether inventory items belonging to third parties are stored separately;
• – whether by order of the manager a permanent commission has been appointed to check the safety of material assets.

Before starting to check the actual availability of property, the inventory commission must receive all incoming and outgoing documents or reports on the flow of cash and material assets. Receipts and expenditure documents are submitted by financially responsible persons to the accounting department against receipt, and then the documents are transferred to the inventory commission.

Before conducting an inventory, the director issues an order to conduct it (Form No. INV-22). It is registered in the journal for monitoring the implementation of orders to carry out inventory (form No. INV-23).

This order is prepared, as a rule, no less than 10 days before the deadline for the inventory. The order determines what specifically will be taken into account during the inventory, in what order it should be carried out, within what time frame and who is included in the inventory commission.

After checking the actual availability of material assets, inventory acts and inventories are drawn up.

The main form of primary documentation for recording the results of a physical inventory is an inventory list, and for recording a documentary inventory - an inventory act.

The forms of inventory records and inventory acts were approved by Decree of the State Statistics Committee of Russia dated August 18, 1998 No. 88.

Inventory records can be filled out either by hand or using a computer. But in any case, they must be filled out clearly and clearly, without blots or erasures. Errors made when filling out inventories are corrected in all copies as follows: incorrect entries are crossed out with one line and the correct entries are placed above them.

Corrections are agreed upon with all members of the inventory commission and financially responsible persons and signed by them.

It is unacceptable to leave blank lines in inventory records and acts, therefore all remaining unfilled lines in the inventory or act must be crossed out.

Inventory records are transferred to the accounting department, where accounting data and inventory data are compared. Upon completion of the inventory, control checks of the correctness of the inventory can be carried out. They should be carried out with the participation of members of inventory commissions and financially responsible persons before the opening of the warehouse, storeroom, section, etc., where the inventory was carried out.

The results of the inventory, as well as control checks, are documented in the following documents:

• – a comparison statement of the results of the inventory of fixed assets (form No. INV-18);
• – a comparison statement of the results of the inventory of inventory items (form No. INV-19);
• – an act of control verification of the correctness of the inventory of valuables;
• – logbook of control checks of the correctness of inventory taking;
• – a statement of records of the results identified by the inventory.

When compiling matching statements it is necessary to take into account the misgrading of inventory items (incorrect accounting of goods of one type as part of another class), the amount differences resulting from the misgrading. It is also necessary to write off losses within the limits of natural loss.