Accounting. Inventory: concept, types, reasons, frequency (the most important)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Accounting. Inventory: concept, types, reasons, frequency (the most important)

Lecture notes, cheat sheets

Table of contents (expand)

82. Inventory: concept, types, reasons, frequency of carrying out

Inventory - checking the availability and condition of material assets (fixed and circulating assets) in kind, as well as cash, balances in bank accounts and other settlements with debtors and creditors. All property of the organization and all types of financial obligations are subject to inventory. Inventory is obligatory for all state, cooperative and public organizations and institutions.

With the help of the inventory, they check the correctness of the current accounting data and identify the mistakes made: they reflect non-accounting business transactions, control the safety of economic assets that are registered with financially responsible persons.

inventory can be full и Partial.

Complete inventory covers all types of property and financial liabilities of the organization.

Partial inventory held for one or more types of property and liabilities, for example, only for cash.

Distinguish planned и unscheduled inventory.

Planned carried out within predetermined time frames.

Unscheduled carried out to establish the presence of values, unexpectedly for a financially responsible person. They are carried out by order of the heads of organizations, at the request of auditors, investigative and control bodies.

The number of inventories in the reporting year, the dates of their conduct, the list of property and liabilities are established by the organization, except for the following cases, when inventory is required:

▪ when transferring property for rent, redemption, sale, as well as transformation of a state or municipal unitary enterprise;

▪ before drawing up annual financial statements, except for property, the inventory of which was carried out not earlier than October 1 of the reporting year. An inventory of fixed assets can be carried out once every five years. In areas located in the Far North and areas equated to it, an inventory of goods, raw materials and materials can be carried out during the period of their least remaining;

▪ when changing materially responsible persons (on the day of acceptance and transfer of cases);

▪ when establishing facts of theft or abuse, as well as damage to valuables;

▪ upon liquidation (reorganization) of an organization;

▪ in cases of fire, natural disasters or other emergency situations.

Purpose of inventory - detection of a discrepancy between the actual availability of property and accounting data is regulated in the following order:

▪ fixed assets, material assets, cash and other property found to be in surplus are subject to capitalization and credited to financial results with subsequent identification of the reasons for the surplus and the perpetrators;

▪ loss of valuables within the limits of norms approved in the manner prescribed by law is written off by order of the head of the organization, respectively, to production or distribution costs. In the absence of norms, the loss is considered as a shortage in excess of the norms;

▪ shortage of material assets, cash and other property, as well as damage beyond the norms of natural loss are attributed to the perpetrators. In cases where the culprits are not identified, losses from shortages and damage are written off as production or distribution costs.

Author: Kabkova E.N.

<< Back: Accounting for reserves for future expenses

>> Forward: Requirements and grounds for conducting an inventory

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ Tax law. Lecture notes

▪ Insurance. Crib

▪ The budget system of the Russian Federation. Crib

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

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

Alaska is melting 17.09.2011

Almost the entire coast of the Arctic rests on permafrost. Parts of the Alaskan coastline along the Beaufort Sea are over 70% ice. Global warming weakens the permafrost, and during severe storms, pieces of the coast fall off into the ocean, up to 10 meters wide and several meters thick.

In addition, many meters of ocean ice recedes from the shore, protecting the earth from wave erosion. Along the entire coast of Alaska (taking into account the winding coastline, its length is 60 thousand kilometers), the coast is melting at a rate of half a meter per year. 178 towns and villages are under threat.

True, according to calculations, the coastal houses of most of these settlements will fall into the ocean only after 350 years, but three settlements will last no more than 10-15 years. Among them, for example, the village of Shishmarev, where a school, leather workshops and other buildings built many years ago, far from the water, were built directly by the sea.

Other interesting news:

▪ Wi-Fi standard up to 4,6 Gbps

▪ Lego - the perfect heat insulator

▪ CPU cooler for compact systems Phanteks PH-TC12LS RGB

▪ Quality video streaming in 8K resolution

▪ Artificial muscle fiber steak

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Tools and mechanisms for agriculture. Article selection

▪ article Fighting in a diplomat. Tips for a modeller

▪ article Why did Reason once send out an issue with a personalized cover to every subscriber? Detailed answer

▪ Article Oncologist. Job description

▪ article Power regulator on the Z8 microcontroller. Encyclopedia of radio electronics and electrical engineering

▪ article Traveling coins. Focus secret

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews