Features of inventory of budgetary institutions at the present stage of society’s development

Abstract

Importance: the functioning of society is impossible to imagine without the functioning of the system of budgetary institutions, and the activities of the modern state are aimed at ensuring the smooth functioning of these institutions. The effectiveness of the functioning of budgetary institutions directly depends on the revenues from the federal, regional, and local budgets, and the mandatory condition for classifying organizations as budgetary institutions is the budgetary financing based on an estimate and the maintenance of accounting records based on a budgetary account plan. However, identifying problematic aspects requires the use of financial control tools by government agencies, which helps to optimize the processes of budgetary institutions and ensure the targeted, efficient, and economical use of budgetary funds. One of these elements of financial control is inventory, which allows for accounting based on actual information about the property owned by a public institution. Purpose: to substantiate the importance of conducting an inventory in a budgetary institution in order to ensure financial discipline and detect violations in this area. Research design: the variety of opinions on the interpretation of the definition of «inventory» has been systematized and analyzed. As part of the accounting reform, starting from 2025, key changes have been made to inventory as a type of financial control in accordance with the provisions of FSBU 28/2023 «Inventory» which have replaced the PBU. Results: the article analyzes the definition of «inventory» and proposes an author’s vision of the stages of inventory, results, and the specifics of accounting entries when identifying violations. The article also focuses on the changes that have affected the process of inventory as part of the accounting reform.