Inventory at the enterprise is a reliable method of monitoring the movement of values and allows you to ensure the accuracy of accounting and reporting data. This is a guarantee of the effective work of any organization, since it allows documentary confirmation of the presence and condition of its property and financial obligations.
In what cases is the inventory carried out?
The company itself decides how many inventories will need to be carried out in the reporting period and sets the dates when they will be held. During each inventory, the actual availability of material values and other property is identified, its safety and compliance with operating conditions are monitored, unaccounted and unused property is identified and the real value of the property on the balance sheet is checked.
From these main tasks of the inventory, it is clear that an unscheduled inspection should be carried out additionally in the following cases:
- when tangible assets and property are leased or the enterprise changes its form of ownership and is transformed into a joint stock company;
- before the annual financial statements are prepared;
- when the financially responsible person changes or a new one is appointed;
- when the facts of theft and damage to property were discovered;
- when the property was damaged during a fire or other natural disaster;
- when the bankruptcy or liquidation of the enterprise occurs.
What is to be inventoried
In the process of inventory, all property on the balance sheet of the enterprise is checked and taken into account, regardless of where it is located. In addition, all types of financial obligations of the enterprise are subject to verification, including accounts payable, bank loans, loans and reserve funds. Other types of property are also checked that do not belong to the enterprise, but are reflected in the forms of financial statements on off-balance sheet accounts, for example, as well as other property that for some reason was not previously accounted for.
There are two types of inventory - full and partial. The procedure for their implementation is regulated by the Federal Law "On Accounting", regulations on accounting and reporting in the Russian Federation, methodological instructions No. 49, approved by the Ministry of Finance of the Russian Federation in 1995.
Who is taking inventory
Before carrying out the inventory, the head of the enterprise must issue an order, according to which the timing of its conduct is determined, and an inventory commission is appointed. It includes the head of the structural unit, the chief accountant or his deputy, financially responsible persons, as well as specialists who have an idea of the storage technology of inventories or employees who are able to assess the condition of fixed assets. It is not bad if economists and marketing specialists work on the commission. The head of the enterprise or one of his deputies is appointed chairman of the commission.
