Inventory is represented by the procedure for comparing existing assets with the information that is available in the company's accounting records. The process is carried out by a special commission appointed by the issuance of an order by the head of the enterprise. Often, as a result of the procedure, a shortage or surplus is revealed. Therefore, the registration of the results of the inventory should be carried out with the help of competent and official documents. They are drawn up and signed by members of the commission.
It is represented by a standard and frequently used method of accounting verification of the status and movement of various property and money in an enterprise. It identifies discrepancies between records in accounting records and the actual balances of various items or funds in the company.
Inventory is being carried out in relation to various property of enterprises. During implementation, it takes into accountspecial Guidelines approved by the Order of the Ministry of Finance No. 49. The procedure for registering the results of the inventory is also given here.
Purposes of the event
Inventory can be carried out several times a year on the basis of an order issued by the director of the company. The process is necessarily implemented if the company is bought out, leased or sold. Additionally, it is performed before the formation of annual reports, the change of the financially responsible person, or when theft is detected in the company. Fixed assets should be reviewed every three years. After various natural disasters or emergencies, firms must identify the losses incurred, for which an inventory is carried out.
Through this process, several goals can be achieved:
- Checking the literacy of accounting by the company's accountant;
- detection of various unrecorded transactions;
- identify mistakes made by accounting staff;
- control over the safety of valuables and timeliness of payments;
- checking the condition and storage conditions of property;
- identifying goods that are slow or stale;
- Checking the integrity of the work of financially responsible persons;
- studying the movement of inventory in the enterprise;
- detection of transactions that for various reasons were not reflected in accounting.
To achieve the above goals, it is important to correctly study the procedure for conducting and reporting the resultsinventory. If the documentation produced after this process contains any violations or errors, then the results will not be recognized as reliable.
Inventory can be presented in several ways. It can be complete or private, as well as selective or continuous.
Additionally, the procedure is unscheduled, planned, control or repeated.
How is it done?
Conducting an inventory and formalizing its results are complex processes that are implemented only by the inventory commission. It includes company specialists who are not interested in the results of the process, and also have the necessary knowledge and experience.
The inventory procedure is divided into the following steps:
- initially, an order is issued by the leadership, on the basis of which this process begins;
- an inventory commission is appointed;
- selected specialists study receipts and expenditure documents, as well as various reports regarding the movement of money or material values;
- the chairman of the commission approves all the documentation that is attached to the registries;
- receipts are drawn up by financially responsible persons;
- real material assets are compared with the records in the documentation;
- control checks can be carried out at the end of the process;
- only after that the results are issued.
The commission must competentlydraw up documents on the results obtained, which are then transferred for study to the head of the enterprise. Competent execution of the results of the inventory is the key to the legal and profitable activities of the company. That is why people who are interested in the results obtained are not allowed to conduct the process.
Procedure for documenting inventory results
At the end of the process, numerous documents must be prepared. They are studied and filled in by members of the inventory commission, after which they are transferred for study to the company's management. On the basis of these papers, a decision is made to hold financially responsible persons or accountants accountable, so the members of the commission should take seriously the execution of the inventory results. The documents that are drawn up in this case are represented by the following papers:
- order, on the basis of which the verification procedure begins, and it is issued by the head of the enterprise;
- control log, which indicates how the orders of the director are carried out by members of the inventory commission;
- an inventory of miscellaneous property represented by fixed assets, intangible assets, goods or cash;
- the act of examining shipped valuables;
- inventory of property accepted for storage or in transit;
- act of inventory of precious metals or precious products;
- inventory of securities and BSO;
- the act of checking the calculations madewith buyers, creditors, debtors or suppliers;
- collation statements drawn up in relation to fixed assets or other property;
- an act of a control check, with the help of which you can verify the correct implementation of the procedure;
- management order regarding results.
Each document has its own characteristics. It is the correct documentation of the results of the inventory that allows them to be used to hold violators accountable or to identify theft.
Rules for issuing orders
Inventory is carried out solely on the basis of an official order issued by the head of the enterprise. This document is included in the control book, on the basis of which the effectiveness and efficiency of the implementation of the director's orders are evaluated.
An example of such an order can be studied below. A document can even be generated for an unscheduled revision.
Nuances of making inventories
The registration of the results of the inventory consists in the formation of various acts and inventories. The rules for their compilation include:
- they contain up-to-date data that appears in the process of checking by members of the commission;
- you can fill them out using a computer or manually;
- errors, blots or corrections are not allowed;
- name of different values,that are being checked are certainly registered on the basis of information from the nomenclature;
- units of measurement must be the same as in accounting records;
- on all pages of the inventories, the number of material assets that were actually identified, as well as their number based on accounting documents;
- if an error is made, it must be corrected by crossing it out, after which the correct data is given above, and such a correction is certified by the signature of the chairman of the commission and the financially responsible person of the company;
- inventories cannot have empty lines, so all remaining space is simply crossed out;
- At the end of the documents, a note is made that the rates and taxes were checked, as well as all calculations were made by the members of the commission.
If the inventory is carried out due to a change in the materially responsible person, then the document is signed by the former employee and the new employee.
Order of the head based on the results of the check
Formulation and accounting of inventory results is a significant step in this procedure. It necessarily includes the issuance of an order by the company's management. This order is formed only after the director of the company has studied the inventory acts, collation statements, inventories and other similar documents.
Based on the data received, management decides on the results of the audit. Such a decision is approved with the help of an official order. In thatthe document includes the following data:
- company name;
- chosen organizational form;
- document date of issue;
- provides documents that the head of the organization was guided by in the decision-making process;
- verification results approved;
- gives the order on the basis of which the identified violations or discrepancies will be eliminated;
- appointed persons who are executors of the order, as well as responsible for the execution of the director's decision.
This order is signed by the direct head of the company, and after that it is endorsed by an accountant who is obliged to familiarize himself with the drafted text. After that, the documentation is transferred to the accounting department, whose employees are responsible for the implementation of the director's decision.
Why is documentation required?
Be sure to draw up official primary documents based on the results of the audit. It is they who confirm that a high-quality inventory was carried out, and that all the information identified is reliable.
Proper registration of the results of the inventory makes it possible to draw a conclusion as to how much the information from accounting corresponds to the actual number of different values. Often, with the help of an audit, it is possible to identify arrears, fraud, or even theft on the part of company employees.
Inventory is a meaningful way to check the correctness of maintenanceaccounting. Its results should be correctly drawn up, for which a lot of primary documents are drawn up. They must be formed directly by the members of the inventory commission, after which they are studied and signed by the head of the company.
Based on these documents, you can assess how well the organization's accounting is maintained.