Topic 13. AUDIT OF INVENTORIES

13.1. Objectives and composition of the audit of inventories and accounting procedures

The purpose of the audit of the inventory is to express an opinion on the reliability and completeness of the reflection in the financial statements of information about the inventory.

When checking the inventory, auditors can use the Methodological Recommendations for Collecting Audit Evidence of the Reliability of the Inventory Inventory in Accounting Statements, which are approved by the Audit Council under the Ministry of Finance of the Russian Federation, Minutes No. 22.04.2004 dated April 25, XNUMX.

In accordance with PBU 5/01 "Accounting for inventories", approved by order of the Ministry of Finance of the Russian Federation dated 09.06.2001 No. 44n, the following assets are accepted for accounting as inventories:

1) used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services);

2) intended for sale;

3) used for the management needs of the organization.

Finished products - part of the inventories intended for sale (the end result of the production cycle, assets completed by processing (assembly), the technical and qualitative characteristics of which comply with the terms of the contract or the requirements of other documents, in cases established by law).

Goods - part of the inventory, acquired or received from other legal entities or individuals and intended for sale.

Order of the Ministry of Finance of the Russian Federation dated October 31.10.2000, 94 No. XNUMXn "On Approval of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations and Instructions for Its Application" provides for the accounting of inventories for the following accounts:

▪ account 10 “Materials” (according to subaccounts);

▪ account 11 “Animals for growing and fattening”;

▪ account 14 “Reserves for reduction in the value of material assets”;

▪ account 15 “Procurement and acquisition of material assets”;

▪ account 16 “Deviations in the cost of material assets”;

▪ account 40 “Release of products, works, services”;

▪ account 41 “Goods”;

▪ account 42 “Trade margin”;

▪ account 43 “Finished products”.

Off-balance accounting of material assets is carried out on the accounts:

▪ account 002 “Inventory assets accepted for safekeeping”;

▪ account 003 “Materials accepted for processing”;

▪ account 004 “Goods accepted for commission”.

In the financial statements, information about the inventory in the organization is reflected in lines 211 "Raw materials, materials and other similar values" and 214 "Finished products and goods for resale" of the balance sheet (form No. 1). Material assets that do not belong to the organization are reflected in lines 920 "Inventory assets accepted for safekeeping" and 930 "Goods accepted for commission" of the Balance Sheet (form No. 1). Other material information about the MPZ, provided for by the current RAS, is disclosed in the explanatory note.

13.2. Criteria for Obtaining Audit Evidence in an Inventory Audit

During the audit, audit evidence is collected according to the following criteria.

Existence. It is necessary to make sure that all inventories reflected in the reporting really exist.

Rights and obligations. It is necessary to make sure that the organization's rights to the inventory, reflected in the reporting, are documented and are not limited by the rights of third parties.

Emergence. It is necessary to make sure that the operations for the acquisition and disposal of inventories reflected in the accounting records took place during the reporting period.

Completeness. It is necessary to make sure that there are no inventories that should have been reflected in accounting and reporting, but were not reflected in it.

Valuation. Necessary:

a) make sure that the inventories are reflected in the accounting and reporting in the correct assessment: at the actual cost or at the market value, if it is lower than the actual cost;

b) make sure that the method of assessing inventories when they are put into production or otherwise disposed of is applied in accordance with the accounting policy adopted by the organization.

Measurement. It is necessary to make sure that the acquisition and disposal of inventories are accounted for in the correct valuation and in the appropriate reporting period.

Presentation and disclosure. Necessary:

a) make sure that inventories are correctly classified in the reporting as raw materials and materials, finished products, goods for resale;

b) make sure that transactions with inventories are reflected in the accounting records in accordance with the regulations governing the accounting procedure in the Russian Federation;

c) make sure that all material information about the inventory is disclosed in the reporting.

13.3. Stages of Gathering Audit Evidence

The collection of audit evidence is carried out by conducting audit procedures, which are carried out in three stages:

1) audit preparation and planning procedures:

▪ checking initial balances;

▪ checking the compliance of analytical and synthetic accounting balances and financial statements;

▪ assessing the applicability of the organization's chosen accounting policy and analyzing the correctness and consistency of its application;

▪ testing the internal control system;

▪ identification of priority areas of inspection based on the characteristics of the client organization’s activities. The procedures for preparing and planning an audit are completed by constructing an audit sample;

2) the procedures performed during the substantive examination. The procedures listed in this section are performed separately for each of the inventories groups (materials, containers, finished products, goods):

▪ checking the correctness of the organization’s inventory of inventories and the reflection of inventory results in accounting;

▪ monitoring the inventory, and if impossible, participation in the control sample inventory;

▪ verification of documentary evidence of ownership of the oil and gas plant;

▪ analysis of documents confirming the encumbrance of ownership rights to the oil and gas plant;

▪ analysis of the movement of MPZ;

▪ verification of documentary evidence of operations on the movement of inventories reflected in accounting:

▪ checking the correctness of documents;

▪ checking the completeness of documentary evidence of business transactions;

▪ checking the completeness of reflection of operations with inventories in accounting;

▪ checking the correctness of the inventory assessment;

▪ checking the correctness of formation of the cost of inventories during their acquisition (manufacturing);

▪ checking the correctness of the assessment of inventories upon their disposal;

▪ checking the correctness of reflection of operations with inventories in accounting;

▪ checking the completeness of disclosure of information about inventories in the financial statements;

3) final procedures:

▪ analysis of errors identified during the audit and their impact on the reliability of financial statements;

▪ forming the auditor’s opinion on the reliability of inventory indicators in the financial statements.

13.4. Methods for Obtaining Audit Evidence

When conducting an audit of operations for the accounting and safety of inventory items (hereinafter referred to as inventory and materials), the following methods and techniques are used: inventory, recalculation, confirmation, verification of compliance with the rules for accounting for individual business transactions, oral questioning, verification of documents, tracking, analytical procedures.

Inventory is used to confirm the actual availability of goods and materials. During an audit, auditors may conduct an inventory themselves or observe the process of its implementation.

The recalculation is used to confirm the reliability of the arithmetic calculations of goods and materials, their compliance with the value reflected in the primary documents and in the accounting registers.

Confirmation is used to obtain information about the correct reflection in the accounting records of the conducted business transactions and the reality of the balances on the accounting accounts of goods and materials.

Checking compliance with the rules for accounting for individual business transactions is used in monitoring the accounting work performed by the accounting department and the correspondence of accounts for the movement of goods and materials.

An oral survey is used in the course of obtaining answers to the auditor's questionnaire on a preliminary assessment of the state of inventory accounting, as well as in the process of checking them when clarifying from specialists certain provisions of completed business transactions that are questionable or unclear.

Verification of documents is used by the auditor to confirm the correctness of accounting for the receipt and expenditure of goods and materials, the completeness and timeliness of their reflection in accounting registers, the validity of their assessment (mutual control of documents).

Tracking is used in the course of checking operations reflected in primary accounting, in order journals, statements, the General Ledger, and financial statements. At the same time, special attention is paid to the correctness of the correspondence of accounts, the correspondence of the amounts of turnovers and balances in the registers of synthetic and analytical accounting.

Analytical procedures are used when comparing the availability of goods and materials in different periods, the report data on their movement with accounting data, assessing the ratios between various report items and comparing them with data for previous periods.

Audit procedures are divided into those conducted before the inventory, during the inventory and after it. Prior to the inventory, the auditor requests documents on the results of previous inventories, analyzes the structural and quantitative changes in stocks, obtains information about the storage locations of stocks, as well as the organization of inventory work.

The auditor may be present at the inventory conducted by the employees of the audited organization in the last days of the reporting year or in the first days of the next year. However, if the inventory was carried out at some interim date, the auditor needs to track the receipt and disposal of stocks in the period that has passed from the moment of the inventory to the reporting date. In this case, a selective reconciliation of invoices, invoices, customs declarations, etc. documents with accounting data is performed.

Sometimes, for a number of reasons, it is not possible to conduct an inventory. For example, when by the time the audit contract is concluded, the inventory at the end of the year has already been carried out by the client and he refuses to carry it out again, or when the inventory is quite expensive. In this case, the auditor can apply mathematical methods that, with a certain probability, allow estimating the amount of reserves. It may happen that the client does not want to carry out a complete inventory, but, at the request of the auditor, will conduct an inventory of a part of goods and materials.

Sufficiently informative may be oral surveys by the auditor of the client's personnel about all changes in the management structure and in the accounting and internal control systems, the content and results of which are recorded in the working documents.

13.5. Inventory Audit Planning

Planning, being the initial stage of the audit in accordance with the Federal Auditing Standards No. 3 "Audit Planning", provides for the preparation of a general plan and audit program. In the general plan, the types of work and the timing of the audit are indicated, in the program - the types and sequence of the implementation of audit procedures, the period of their implementation, performers, working documents. The content of the general plan and the audit program will depend on the specific characteristics of the audited enterprise. During the audit, the auditor should establish:

▪ the reality of the presence and existence of MPZ (through participation in the inventory or evaluation of its results);

▪ whether all transactions with inventories that should be reflected in the accounting accounts are actually presented in them (documentary verification);

▪ whether the organization is considered the owner of all inventories, i.e. whether there are property rights to them, and the amounts reflected as debt are liabilities (legal aspect of the verification);

▪ correctness of the assessment of inventories and related obligations;

▪ whether the principles of inventory accounting were correctly selected and applied.

The information base for checking the MPZ is:

1) regulatory documents relating to the receipt, accounting, storage and release of material assets;

2) balance sheet;

3) General ledger;

4) order on accounting policy;

5) primary documents for registration of operations with inventory;

6) registers for inventory accounting.

13.6. Audit of the correct accounting of materials

In accounting, materials are accounted for in accordance with the Instructions for the Application of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations, approved by Order of the Ministry of Finance of the Russian Federation No. 31.10.2000n dated October 94, 2, and clauses 5, 5 PBU 01/09.06.2001 "Accounting for inventories" , approved by order of the Ministry of Finance of the Russian Federation of 44 No. 10n, on account XNUMX "Materials" at the actual cost.

In this case, the materials are accepted for accounting at the actual cost, which is the amount of the organization's actual costs for their acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation). The actual costs also include the cost of paying interest on borrowed funds, if they are involved in the purchase of inventories (materials) and are made before the date of posting the inventories to the organization's warehouse (clause 6 PBU 5/01).

In accordance with clause 68 of the Methodological Guidelines for Accounting for Inventories, approved by Order of the Ministry of Finance of the Russian Federation dated December 28.12.2001, 119 No. XNUMXn, the actual cost of materials purchased for a fee includes:

1) the cost of materials at contractual prices;

2) transport and procurement costs;

3) the costs of bringing materials to a state in which they are suitable for use for the purposes envisaged by the organization.

At the same time, transportation and procurement costs include transportation costs, as well as fees for storing materials at the places of purchase (clause 70 of the Guidelines).

Inventory belonging to the organization, but on the way or transferred to the buyer on bail, are taken into account in accounting in the assessment provided for in the contract, with subsequent clarification of the actual cost. In our opinion, in a similar way, materials should be taken into account, the ownership of which has passed to the organization before they are actually received.

13.7. Features of the audit in the organization of accounting for inventories at accounting prices

If, according to the organization's accounting policy, inventories are accounted for at discount prices using accounts 15 "Procurement and acquisition of material assets" and 16 "Deviation in the cost of material assets", then information about their acquisition is reflected in accounting in accordance with the Instructions for Using the Chart of Accounts on account 15. The debit of account 15 includes the actual costs associated with the acquisition of inventories, in correspondence with the credit of account 60 "Settlements with suppliers and contractors". In the credit of account 15 in correspondence with the debit of account 10 "Materials", the accounting value of the inventories actually received by the organization and credited is written off. The amount of the difference (deviation) in the cost of acquired inventories, calculated in the actual cost of acquisition, and accounting prices is debited from account 15 to account 16. The described procedure for accounting for deviations is also established in clauses 83, 85 of the Methodological Guidelines for Accounting for Inventories approved by order Ministry of Finance of the Russian Federation dated December 28.12.2001, 119 No. XNUMXn.

The debit of account 15 includes the actual costs associated with the purchase of goods, in correspondence in this case with the credit of account 60 "Settlements with suppliers and contractors". The amount of the difference between the cost of the purchased goods, calculated in the actual cost of the acquisition, and the accounting price is debited from account 15 to account 16.

The differences accumulated on account 16 "Deviation in the value of material assets" in accordance with the Instructions for the use of the Chart of Accounts are written off to the debit of the account for accounting for sales expenses or other relevant accounts.

According to sub. "c" clause 80 of Guidelines No. 119n is allowed to be used as accounting planned and estimated prices, which are developed and approved by the organization in relation to the level of the actual cost of the relevant inventories and are intended for use within the organization.

In organizations that keep records of inventories at planned and estimated prices, a nomenclature-price tag is developed in the manner established in clause 81 of Guidelines No. 119n.

In accordance with the Instructions for the Application of the Chart of Accounts and clause 86 of Guidelines No. 119n, deviations in the cost of raw materials related to raw materials put into production are subject to monthly write-offs to accounting accounts that reflect the consumption of the corresponding raw materials.

13.8. Acquisition of inventories denominated in foreign currency

According to paragraphs 4, 5, 6 PBU 3/2000 "Accounting for assets and liabilities of an organization, the value of which is expressed in foreign currency", approved by order of the Ministry of Finance of the Russian Federation dated 10.01.2000 No. 2n, the value of assets and liabilities, expressed in foreign currency, for reflected in accounting and reporting is subject to conversion into rubles at the rate of the Central Bank of the Russian Federation, effective on the date of the transaction in foreign currency. When importing inventories, the date of the transaction is the date of transfer of ownership to the importer of imported inventories (Appendix to PBU 3/2000).

The amount of the difference resulting from the deviation of the purchase rate by an agent of foreign currency from the official rate of the Central Bank of the Russian Federation, established on the date of purchase of this currency, may be reflected in the accounting of the organization as part of operating expenses (clause 11 PBU 10/99 "Expenses of the organization", approved by order Ministry of Finance of the Russian Federation dated May 06.05.1999, 33 No. 91n). This operation is reflected in accounting on the debit of account 91 "Other income and expenses", sub-account 2-XNUMX "Other expenses", in correspondence with the credit of the account for accounting for settlements with the agent.

Operations involving the importation of goods into the customs territory of the Russian Federation are recognized as an object of VAT taxation (subclause 4, clause 1, article 146 of the Tax Code). In this case, the tax base is determined in the manner prescribed by paragraph 1 of Art. 160 NK, art. 117 TK. In accounting, the amount of VAT payable to the customs authority is reflected in the debit of account 19 "Value added tax on acquired valuables" in correspondence with the credit of account 68. The amount of VAT actually paid when importing materials into the customs territory of the Russian Federation, the organization has the right to accept deductible (clause 2, article 171 of the Tax Code) after the imported material assets are registered and if there are documents confirming the actual payment of VAT (clause 1 of article 172 of the Tax Code).

13.9. Material costs

For the purposes of tax accounting in accordance with sub. 1 p. 1 art. 254 of the Tax Code, the costs of purchasing materials used in the manufacture of products are included in material costs. The cost of inventory items included in material expenses is determined based on their purchase prices (excluding the amounts of taxes deductible or included in expenses in accordance with the Tax Code), including import customs duties and fees, transportation costs and other costs associated with with the acquisition of inventory items (clause 2 of article 254 of the Tax Code).

It should be noted that the terminology of tax and accounting has been brought into line. In accounting, the procedure for recording material costs is regulated by PBU 5/01, approved by order of the Ministry of Finance of Russia dated 09.06.2001/44/28.12.2001 No. 119n, and Methodological guidelines for accounting of inventories, approved by order of the Ministry of Finance of Russia dated 1/2005/XNUMX No. XNUMXn. In tax accounting, the term "material and production values" was used for similar purposes. From January XNUMX, XNUMX, the tax legislation applies the concept used for accounting purposes - "inventory".

In paragraph 2 of Art. 254 of the Tax Code clarified the procedure for the formation of the cost of inventories. Starting from 2006, it is determined on the basis of purchase prices of inventories, excluding VAT and excises, with the exception of cases provided for by the Tax Code. Other taxes and fees (for example, customs duties and fees) paid when purchasing inventories are taken into account in their cost. The cost of inventories still includes commission fees to intermediary organizations, transportation costs and other costs associated with the acquisition of inventories.

The costs of maintaining the procurement and storage unit of the organization are not included in the cost of the inventory. They are included in the composition of indirect costs in accordance with paragraph 2 of Art. 318 NK.

Transportation costs for the delivery of material assets are taken into account when forming the cost of the inventory (clause 2 of article 254 of the Tax Code). In the case of delivery of materials by the own transport workshop, the assessment of these services is carried out taking into account the assessment of finished products (works, services) in accordance with Art. 319 NK. This is indicated in paragraph 4 of Art. 254 NK. However, the services of the transport department may be associated with the acquisition of several types of material values, in which case the amount of expenses is distributed among the material values ​​in proportion to any criterion justified for this case.

Costs for the acquisition of works and services of a production nature performed by third parties are included in indirect costs. At the same time, the amount of indirect expenses for production and sale, carried out in the reporting (tax) period, is fully related to the expenses of the current reporting (tax) period, taking into account the requirements provided for by the Tax Code.

The party receiving property free of charge reflects its value as part of non-operating income based on market prices, provided that the provisions of Art. 251 NK.

The date of implementation of material expenses is the date of transfer to production of materials - in terms of materials attributable to goods (works, services) produced (clause 2 of article 272 of the Tax Code). The costs in question are classified as direct costs on the basis of paragraph 1 of Art. 318 NK.

13.10. Transfer of raw materials for processing

In accounting, the transfer of raw materials for processing is reflected in the entry on the subaccounts of account 10 "Materials": on the credit of subaccount 10-1 "Raw materials" in correspondence with the debit of subaccount 10-7 "Materials transferred for processing" (Instructions for applying the Chart of Accounts of the accounting accounting of financial and economic activities of organizations).

The cost of processing raw materials performed by a third-party organization is also considered material costs, but refers to indirect costs (subclause 6, clause 1, article 254, article 318 of the Tax Code).

The costs of paying for the processing of raw materials are included in the calculation of the tax base for income tax in full in the reporting period in which the act of completed processing work is signed, and in the formation of accounting profit, these costs are included as the production and sale of finished products, i.e. e. in subsequent reporting periods. Consequently, the organization in the reporting period, in which the result of work on the processing of raw materials is accepted, has differences between the value of accounting and taxable profits.

13.11. Goods accounting

Goods in accordance with clause 2 PBU 5/01 "Accounting for inventories", approved by order of the Ministry of Finance of the Russian Federation dated 09.06.2001 No. 44n, are considered part of the organization's inventory, acquired or received from other legal entities and individuals and intended for sale.

Purchased goods are accepted for accounting at the actual cost, which in this case is the amount paid to the seller of goods, excluding VAT (clauses 5, 6 PBU 5/01). The amount of VAT paid to the seller when purchasing goods, the organization has the right to accept for deduction on the basis of sub. 2 p. 2 art. 171 of the Tax Code under the conditions specified in paragraph 1 of Art. 172 NK.

In accordance with the Chart of Accounts for accounting of the financial and economic activities of organizations and the Instructions for its application, goods are accounted for on account 41 "Goods".

In accordance with paragraph 2 of Art. 424 of the Civil Code, a price change after the conclusion of the contract is allowed in cases and on the conditions provided for by the contract, the law or in the manner prescribed by law.

The amount of payment and (or) accounts payable is determined taking into account all discounts (capes) provided to the organization in accordance with the agreement (clause 6.5 of PBU 10/99 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 33n).

The sale of goods (with the exception of the operations specified in paragraph 3 of article 39 of the Tax Code) is recognized as an object of VAT (subparagraph 1 of paragraph 1, paragraph 2 of article 146 of the Tax Code).

13.12. Audit of the release and sale of finished products

The cycle of production and sale of finished products is the main section of the activity of an industrial enterprise. In this cycle, such significant indicators for users of financial statements as sales proceeds, cost of goods sold and profit (loss) from sales are formed. They reflect the effectiveness of the main activity of an economic entity, its ability to expand its production range, to meet the social and material needs of the team, to fulfill obligations to the budget and other organizations.

Checking the organization of accounting for the release and sale of finished products refers to one of the types of audit services provided by an audit firm on special assignments in accordance with an established agreement with an economic entity, or is included in the general audit.

The purpose of checking operations for the release and sale of finished products is to objectively assess the completeness, timeliness and reliability of the accounting and reporting of indicators of sales proceeds, cost of goods sold, management and commercial expenses and profit (loss) from sales. At the same time, a set of interrelated tasks is solved in the audit process:

▪ analyzes the accounting policy of the enterprise in terms of regulating the procedure for organizing accounting for the production and sale of finished products in accordance with current legislation and industry specifics;

▪ contractual discipline is controlled in accordance with the law;

▪ the correctness of the documentation of operations for the production and sale of products is checked;

▪ the procedure for accounting and writing off costs for the production and sale of finished products is being studied;

▪ the completeness, timeliness and reliability of the receipt of finished products into the warehouse, release and sale of them to customers are assessed;

▪ the correctness and legality of organizing analytical and synthetic accounting of operations related to the movement of finished products is analyzed;

▪ compliance with tax legislation regarding taxation of transactions for the sale of finished products is monitored.

When preparing an audit program, the system of internal control of an economic entity is evaluated in terms of reliability, quality and degree of trust using a testing procedure carried out on the basis of the provisions of the Federal Auditing Standard "Study and evaluation of accounting and internal control systems during the audit". The results of the evaluation of the accounting and internal control systems of the cycle of production and sale of finished products are based on the content of the questions and objects of the study, the list of audit procedures and are given in the form of verification tests. Tests for checking the state of the internal control system and accounting for the cycle of production and sale of finished products are given with the highest probability of using them in practical work. The content of the answers and the conclusions of the auditor are arbitrary, given the most common violations of such a plan in the organization of accounting and internal audit.

The audit of the workflow is carried out on formal grounds (compliance with a standard unified form, the presence of all details, signatures, seals, dates, document numbers) and on the merits of the reflected operations (legality, expediency, reliability, arithmetic control of amounts and results). The primary accounting documents checked by the auditor, reflecting the movement of finished products, are entered in the working document of the auditor.

Audit of accounting for finished products at standard cost. The organization can account for finished products at standard cost. In accordance with the Instructions for the Application of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations in Organizations Accounting for Output at Standard Cost and Using Account 40 "Output of Products (Works, Services)", the debit of this account reflects the actual production cost of products released from production in correspondence with cost accounting accounts (in this case, account 20 "Main production"). The credit of account 40 reflects the standard (planned) cost of manufactured products in correspondence with account 43 "Finished products".

By comparing the debit and credit turnover on account 40 on the last day of the month, the deviation of the actual production cost of manufactured products from the standard (planned) cost is determined. The identified cost overrun, i.e., the excess of the actual cost over the standard (planned) cost, is debited from account 40 "Output of products (works, services)" to the debit of account 90 "Sales" with an additional entry. Account 40 is closed monthly and has no balance as of the reporting date. Thus, the entire amount of the deviation of the actual cost of finished products from the standard is written off to the cost of sales, regardless of whether all of the output was sold.

13.13. Inventory of inventories

According to paragraph 1 of Art. 12 of the Federal Law of November 21.11.1996, 129 No. 13.06.1995-FZ "On Accounting" the procedure and terms for conducting an inventory are determined by the head of the enterprise, with the exception of cases when an inventory is mandatory. Guidelines for the inventory of property and financial obligations were approved by order of the Ministry of Finance of the Russian Federation of June 49, XNUMX No. XNUMX.

The results of the inventory are documented in the forms approved by the resolutions of the State Statistics Committee of Russia No. 18.08.1998 dated 88 and No. 27.03.2000 dated 26.

To reflect the data obtained during the inventory of the actual availability of inventory items in storage places and at all stages of their movement in the organization, the Inventory list of inventory items in the form No. the material assets reflected in the accounting are also subject to inclusion in the specified inventory list.

Excess property identified during the inventory, in accordance with sub. "a" clause 28 of the Regulation on accounting and financial reporting in the Russian Federation, approved by order of the Ministry of Finance of the Russian Federation dated July 29.07.1998, 34 No. XNUMXn, is accounted for at market value on the date of the inventory, and the corresponding amount is credited to the financial results of a commercial organization.

According to paragraph 20 of Art. 250 of the Tax Code, non-operating income of the taxpayer is recognized, in particular, income in the form of the cost of surplus inventories and other property, which are identified as a result of the inventory. Paragraph 5 of Art. 274 of the Tax Code establishes that non-operating income received by the taxpayer in kind are taken into account when determining the tax base based on the transaction price, taking into account the provisions of Art. 40 NK. In other words, non-operating income is determined based on current market prices.

Account 91 "Other income and expenses", sub-account 91-1 "Other income" are intended for accounting for property that turned out to be in excess according to the results of the inventory.

When determining income and expenses on an accrual basis, the date of recognition of non-operating income in the form of the cost of surplus materials is the date of receipt of these surpluses (by analogy with subparagraph 1 of clause 4 of article 271 of the Tax Code), which is drawn up by a credit order in the form No. M-4 "Credit order ", approved by the Decree of the State Statistics Committee of Russia dated October 30.10.1997, 71 No. XNUMXa.

13.14. Audit of reporting forms

Verification of the completeness of the disclosure of information about the inventory in the financial statements includes the following procedure.

When analyzing the presented financial statements, you need to make sure:

1) that the inventories are correctly classified in the reporting as raw materials and materials, finished products and goods for resale;

2) the accounting data for the inventory correspond to the data of the balance sheet (form No. 1).

The explanatory note should disclose the following essential information about the MPZ:

▪ about methods of assessing the medical reserves by their groups;

▪ the consequences of changes in the methods of assessing inventories;

▪ the cost of inventories pledged as collateral;

▪ the amount and movement of reserves for reducing the value of inventories in accordance with the order of the Ministry of Finance of the Russian Federation dated December 28.12.2001, 119 No. XNUMXn “On approval of the Guidelines for accounting of inventories”;

▪ information on segments in accordance with the order of the Ministry of Finance of the Russian Federation dated January 27.01.2000, 11 No. 12n “On approval of the Accounting Regulations “Information by Segments” (PBU 2000/XNUMX)”;

▪ information on conditional facts of economic activity with inventories in accordance with the order of the Ministry of Finance of the Russian Federation dated November 28.11.2001, 96 No. 8n “On approval of the Accounting Regulations “Conditional Facts of Economic Activity” PBU 01/XNUMX”;

▪ information about events after the reporting date that affect the state of the inventory in accordance with Order of the Ministry of Finance of the Russian Federation dated November 25.11.1998, 56 No. 7n “On approval of the Accounting Regulations “Events after the reporting date” (PBU 98/XNUMX)”;

▪ information on transactions with affiliated entities in accordance with Order of the Ministry of Finance of the Russian Federation dated January 13.01.2000, 5 No. 11n “On approval of the Accounting Regulations “Information on Affiliated Entities” PBU 2000/XNUMX”.

All conclusions and comments of the auditor are systematized in working documents, the level of influence on the reliability of financial statements is calculated by comparing with the previously determined level of materiality, and a report (written information) is drawn up based on the results of the audit.

Authors: Erofeeva V.A., Piskunov V.A., Bityukova T.A.

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Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive The danger of searching for extraterrestrial life 31.07.2017 Renowned scientist Stephen Hawking said that he is against the search for extraterrestrial life, as it can be dangerous. Hawking admitted that the longer he lives and studies the world, the more he becomes convinced that we are not alone in the universe. But he urges other scientists to approach this fact with caution. Stephen cited the struggle of Native Americans and Columbus as an example. The Indians were very warlike, bloodthirsty and posed a great threat to the team. The scientist believes that there is a high probability that this case can be repeated with alien civilizations. He recalled that the planet Gliese 832c was recently discovered, on which life may well be present, since it is very similar to ours. Stephen Hawking urges the world not to react joyfully and not to make hasty decisions if we receive a signal from her, since we have no idea what kind of temperament those creatures can have.

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