Any economic activity at the enterprise implies the presence of specific savings in its holdings. This includes tangible and intangible assets, fixed assets, finished goods or goods for sale, cash assets and other property. Whatever the company - large or small, industrial or commercial, public or private - it must necessarily recount the list of property present through an inventory. In budgetary institutions, this procedure is carried out with special care.
Inventory concept
An inventory, by its initial definition, means a recount of cash items listed on the property of the enterprise, with a concrete comparison of the results with a previous check. This word initially suggests a familiar term called “inventory”. But it is worth noting that the process of conducting an inventory in a budgetary institution involves a quantitative measurement of not only the economic estate or inventory objects that are assigned to materially responsible persons, but also the list of funds stored in bank accounts and in cash (on hand), settlements with debtors and creditors, as well as financial obligations. The main purpose of this event is to identify surpluses or shortcomings that may arise in the course of business, as well as to search for possible errors that were made by employees of various sections of the economic functioning of the enterprise as a whole. According to the results of the inventory in the budget institution, the perpetrators of the shortcomings are subject to disciplinary punishment in the form of reprimanding or deprivation, as well as compensation for the damage suffered.
Value to the enterprise
Conducting regular inspections at enterprises maintained at the expense of state funds is an integral process of their business activities. The significance of the inventory in budgetary institutions is determined by the list of possible situations that are subject to mandatory controlling by the management, namely:
- conditions for the transfer of the estate of a budget company for rent;
- conditions for the sale or redemption of budget property;
- monitoring the state of an asset and liability of a state institution;
- change of materially responsible person and transfer of cases;
- the presence of theft, malpractice and damage to values;
- situations of fires, natural disasters and other emergency situations.
It is mandatory to take stock of especially important and significant components of the property of a budget institution, the list of which includes:
- cash desk of the enterprise;
- medications;
- fixed assets;
- inventory items;
- library fund;
- list of precious metals and stones.
Rules for
The rules for conducting an inventory in a budget institution are regulated by applicable law. One of the main requirements for the correct conduct of the audit of state property is the mandatory formation of the composition of the commission. The order for inventory in the budgetary institution establishes the specific persons who will be members of this commission. The circle of persons represented for the audit includes exclusively staff of the enterprise, but not third parties in the form of expert evaluators, employees of state inspections, and so on. Mandatory representatives of the commission are the chief and ordinary accountant, and is headed by its head and his deputy. It is important to note that materially responsible persons cannot be part of the inspectors. In addition to the members of the inspection team, the director of the institution approves in the order specific dates for the inspection. At the end of the inventory of property in a budget institution, an analysis of shortages and surpluses is carried out, the perpetrators are identified, an administrative penalty is taken from the perpetrators, if any.
Stages
All work on checking cash and non-cash items on the estate of a state institution is divided into several stages.
The first stage is preparation. By the beginning of the audit, the accounting department should complete work with all documents on receipts and issues of material assets, as well as make the necessary entries in the list of analytical accounting registers, having determined the balances on the day of the audit in advance.
The second stage is the direct conduct of an inventory in a budget institution. The corresponding forms are prepared for entering data on the results of the verification into them, the names of the commission members are entered, counting, weighing, measuring of the specific items to be taken are made, after which the premises subject to verification are sealed to prevent forgery or subsequent theft of the inventoried property.
The third stage is the preparation of inventory inventories. Specifically established by the current legislation, the forms regulate the completion of the audit results on fixed assets, intangible assets, other intangible assets and stocks, the availability of cash and valuables, as well as strict reporting forms, settlements with debtors and creditors and tangible assets in storage.
The fourth stage is the verification of completed inventories. It summarizes the inventory of fixed assets in a budget institution, liabilities, assets and cash. At this stage, surpluses and shortages of property of the enterprise are identified.
OS inventory
An inventory of fixed assets in budgetary institutions is one of the most priority and responsible areas in the work of the verification commission. After all, here it is necessary to analyze and calculate not only the actual presence of assets at the enterprise, but also determine the physical condition of each object to be inspected. This requires experience and certain skills of the members selected by the head of the commission, since the list of fixed assets is often too long: it includes a lot of positions from real estate to stationery pens and pencils.
The procedure for conducting an annual inventory in a budget institution in terms of fixed assets, as well as in case of a private unscheduled inspection, includes specific principles for the analysis of the object of examination. The objective of such a check is:
- recounting and fixing the actual presence of the OS;
- comparing the received data with the accounting information previously entered into the 1C program;
- the identification of discrepancies and the identification of shortages and surpluses, if any;
- verification of objects unsuitable for use;
- identification of fixed assets that do not meet recognition criteria.
At the same time, objects of land plots with their buildings, structures, real estate are not subject to mandatory annual verification, and the budgetary institution is not required to conduct an inventory of such funds annually - it is enough to check them every three years.
Cash inventory
An equally important point in the work of a state-owned enterprise is to check the cash desk and the funds stored in it. The purpose of the cash register inventory in a budgetary institution is to verify the real accounting of the current section of cash transactions, as well as to identify the correspondence of information in cash documents with actual cash. But in what cases is a cash desk check mandatory? This is preceded by the following situations:
- transfer of state property to lease or ownership of the buyer;
- eve of annual reporting;
- change of MOT;
- identification of signs of theft, theft, damage to property;
- force majeure situations;
- natural disasters;
- Accidents
- emergencies;
- liquidation or reorganization of the enterprise.
Before the audit, all cash flow processes are terminated, the cashier provides the commission with the totality of all FFP, RKO, monetary statements. Being a materially responsible person, he also confirms that he has handed over all the cash documentation to the accounting department or to the members of the commission itself, and also gives information that all arrivals have been capitalized and those that have been withdrawn have been written off. Then comes the immediate conduct of the audit itself, which implies the mandatory recount of all cash banknotes at the cash desk with their specific denomination, and the amount revealed by the counting is verified with the one indicated by the cashier in the cash register and balances at the end of the period. If cash register equipment is present at the enterprise, the check begins with reconciliation of checks and the amounts entered in them with the data in the program. The absence of overlimit at the box office is also not ignored - the amount on the balances should not exceed its boundary value. It should also be noted that blots, errors and deletions in cash documents are unacceptable. At the end of the inventory of cash in duplicate, the commission draws up an inventory act. One of them is transferred to the accounting department, the other remains with the MOT in the person of the cashier.
Inventory of obligations
An inventory of liabilities in a budgetary institution is aimed at establishing reliable financial information on reporting and accounting, during which specialists determine the presence and condition of debts of a state-owned enterprise. What objects are subject to an inventory of obligations? These include:
- items of loans, borrowings, loans ;
- specific taxes and fees;
- social insurance items;
- goods supply;
- performance of work and services,
- wage level.
During the audit, the director determines the composition of the verification commission. That, in turn, is engaged in assessing the appropriateness of the accounting. Debts on timely payment of loans and interest on loans are identified, the compliance of figures in the contracts and financial statements is determined. The inventory also applies to tax reporting - the amounts that were posted to sub-accounts and which should correspond to the information entered in the declaration are considered.
In the process of identifying debts to social funds, the transferred sums of money are verified and debts are sought out. No less carefully is the approach to reviewing the wages of each employee, taking into account the particular attention paid to the established underpayments and overpayments.
Among other things, monitoring and analysis of settlements with buyers, suppliers, customers, contractors is carried out. The terms of payment of payment orders are analyzed, and the submitted advance reports are checked.
Annual recount of property
Representatives of the technical inventory bureau are sometimes invited to conduct an annual recount of property of a state enterprise . The budgetary institution conducts a mandatory annual audit as of October 1 of each year (beginning of the fourth quarter of the reporting period). In addition to the above recounting options, the annual inventory provides for the verification of the following components of the state-owned enterprise’s economic property:
- land, real estate (every three years);
- stocks, biological assets, the already mentioned receivables, payables, income and expenses of the future period, other liabilities (annually);
- fixed assets, equipment, inventory items (annually);
- investments, cash, work in progress (annually);
- agricultural facilities (annually);
- beekeeping, nurseries (annually).
During the annual inventory, the commission carries out the following work:
- conducting briefing for inspectors;
- organization of conducting the inventory itself;
- control of the audit;
- correct determination of control differences;
- repeated check in case of an error in the preliminary calculation of property;
- identification of the causes of the difference;
- reporting to management by filling out an inventory.
Inventory shortage
The shortage identified during the inventory of a budget institution is subject to analysis. In itself, the definition of shortage is a shortage of inventory identified during the audit and their direct recount. If the shortage has been calculated within the limits of the norms of natural loss, penalties are not applied to the materially responsible person. In this case, the amount of shortages or spoiled stocks is debited from the account at the specific cost price, which includes the contract price and the share of transportation costs spent on these stocks. If the shortage exceeds the rate of natural loss, the guilty person is established and a fine is collected from him in the amount of the amount received during the shortage check.
Inventory surplus
The surpluses identified during the inventory in a budget institution are subject to capitalization. Excessive amounts obtained as a result of the audit on fixed assets, inventories, cash and other assets are accepted on the balance sheet. This operation is carried out by taking the surplus into account at the current market value (if it is not about cash, it is accounted for in the denomination in which it is surplus, and data on it is recorded in the act of conducting an inventory of cash). Inexperienced accountants, novices or students who have not finished their studies, who came to work in a budgetary organization and started working on an inventory, mistakenly believe that surplus is not a shortage, that there is nothing terrible in them. But this is not so. Especially when it comes to the box office.
In the event that an unscheduled sudden inspection came to the enterprise with representatives of the state inspectorate, the excesses found by them at the cash desk, even in the amount of one unfortunate penny, are fined. It is strictly forbidden to keep your own funds or underdue change at the cash desk. The cash level at the cash desk should clearly coincide with the numbers entered in the corresponding cash documentation. If we are talking, for example, about fixed assets, then they fall on the balance sheet of the enterprise, but the head of the institution will nevertheless ask relevant questions to materially responsible persons who have not put the excess fixed asset on the accounting records of the enterprise at the right time.