The order of the inventory: the basic requirements of the law
The main method of accounting control over production and financial activities and the state of the organization is the primary documentation. However, it is impossible to analyze the state of the enterprise, relying only on documentary data, inaccuracies or errors are not excluded.
To ensure control of the safety of goods and materials and the reality of the credentials at the enterprises, inventory is periodically held. The procedure for the inventory is determined by the Methodological Guidelines dated 13.06.1995, No. 49.
When verification is required
The frequency, order of inventory, the property to be recalculated, and the composition of the commission are established by the head of the company. But there are circumstances that require a mandatory recount of property. It may be:
- transfer of funds of the company for rent, change of status of the enterprise;
- the end of the reporting year;
- Reception and transfer of property when changing an accountable person;
- establishing the fact of theft, theft or damage to property, including natural disasters;
- liquidation or reorganization of the company.
The inventory procedure is predetermined by the objectives pursued by the audit:
Types of inventories
There are several types of inventories:
- full or partial;
- selectively or in a continuous way;
- planned or unscheduled.
Full inventory takes place at the end of the reporting year, when conducting an audit or audit, covering all types of property, cash and financial liabilities to other companies and individuals. Partial inventory checks only part of the organization’s assets, for example, only financial liabilities or fixed assets. With a selective inventory of the reporting person, only some items of inventories are checked. A continuous check is carried out simultaneously in all departments and structural divisions of the company. Planned inventory is carried out in a timely manner, approved by order of the head.An unscheduled inspection is carried out in connection with the prevailing circumstances (during the transfer of warehouse property, after theft, natural disasters and other force majeure circumstances). The need for re-inventory arises if there are doubts about the quality of the originally conducted. Sometimes control checks are carried out, the suddenness of which must be guaranteed. They are initiated by the head in order to confirm the correctness of the previous inspection.
Inventory of TMTs
In trading companies, there is a constant dynamic movement of goods, so making inventories of goods is a fairly frequent necessary procedure. The procedure for inventory of goods is as follows:
- mandatory termination by accountable persons of all operations on the release and receipt of goods;
- the accountable person prepares a commodity report, which is submitted to the inventory commission and a receipt is issued confirming that unaccounted goods are not available;
- the chairman of the commission, endorsing the appendix to the commodity report with the note “Before inventory”, dates the entry;
- taking inventory by recounting, outweighing, or measuring existing goods;
- registration of inventory data in the inventory f. INV-3 in 2 copies, with the transfer of goods and materials from one person to another - in 3 copies;
- after the end of the inventory is transferred to the accountant for the final comparison of the actual balances of inventories with accounting data.
Registration of results
For the established discrepancies in the availability of goods and materials in fact from the credentials, a comparing statement is compiled without fail, where the discrepancies are recorded: for quantity and amount accounting - for items and types of goods, for total accounting - for all goods. If any discrepancies are identified, the surplus of inventories is subject to posting, the shortages are to be collected from the guilty persons, however, the decision is usually made by the head of the company.
The timing and order of the inventory of funds are set by the order of the head of the company. Inventory of cash on hand is carried out by a commission consisting of a representative of the administration, an auditor and a chief accountant in the presence of a cashier.
Cash inventory consists of the following steps:
- the cashier draws up a cash report, which he submits to the inventory commission, and a receipt is issued confirming that there are no unaccounted cash and unaccounted cash documents;
- The chairman of the commission endorses all cash documents attached to the report with the note "Before inventory" and the date;
- carrying out an inventory of money by recalculation, forms of strict reporting and other money documents by comparison with logbooks of registration of documents of strict accounting;
- registration of inventory data in the act of audit of the ticket office f. INV-15 in 2 copies, with the transfer of cash from one cashier to another - in 3 copies;
- inventory results are displayed in an act signed by members of the commission and the cashier; in case of detection of deviations from the credentials, the cashier explains in writing the reasons for the incident;
- the established surplus of money in cash comes, shortages - to be recovered.