Inventories - this is a certain part of the property, which is used in the performance of work, manufacturing of goods, provision of services. These funds are also used for the administrative needs of the enterprise.
As a rule, inventories are used as objects of labor. In each cycle, their full consumption is carried out. Inventories entirely transfer their own value to the cost of manufactured goods, services rendered or work performed. Their accounting in Russia is carried out in accordance with the Regulation on accounting.
The group of material and production resources (stocks) includes finished products. She, being the end result of the technological cycle, an asset, is intended for implementation. At the same time, its quality characteristics comply with the requirements of the contract or the conditions of other documents.
Goods are considered part of the production resources received or acquired from third-party physical or legal entities. They (goods), as well as finished products of the enterprise, are intended for sale.
The enterprise chooses the unit of accounting for inventories of production independently so that reliable and complete information about these assets is formed, and the necessary control over their movement and availability is ensured. In accordance with the nature of the resources, the procedure for their acquisition and use, a unit, a batch number, stock number, group, etc. can be taken as a unit.
Inventories are taken to accounting in accordance with the actual cost. This amount reflects the actual expenses of the enterprise for the acquisition of funds, excluding VAT and other recoverable taxes (except as specified in the legislation of the Russian Federation).
The indicated costs include the amounts that are transferred to the seller (supplier) on the basis of the contract, customs duties, payment of consulting and information services, remuneration of the intermediary organization, non-refundable taxes. Actual expenses are the costs of procurement, as well as the delivery of production resources to the place of their application, insurance premiums. The same category includes the costs of bringing funds to a state of suitability for use.
In the manufacture of resources at the enterprise itself, costs are taken into account and formed in accordance with the procedure used in determining the cost of the corresponding type of product.
Actual expenses for the acquisition of funds increase or decrease in accordance with the total differences that arise before they are accepted for accounting.
To reduce the risk of significant errors and errors in the accounting process, an audit of inventories is carried out .
The audit establishes the reality of the existence, the presence of inventories, whether all operations that should be reflected in the accounts are actually present in them. It also becomes clear whether all inventories held by the enterprise belong to him, that is, the organization has a property right to them, and the amounts presented as debt represent liabilities. The audit also establishes the correctness of the assessment of funds, the choice of accounting principle.
Each organization should have its own specific program for internal control developed, through which the safety and proper use of resources is ensured. At the same time, the program should include verifiable issues, terms of verification. Thus, the audit of material and production resources of the enterprise reflects the opinion on the completeness and reliability of the information presented in the reporting documentation.