Effective inventory management: ways to optimize the accounting of goods and materials of an economic entity

Abstract

Importance: for any manufacturing enterprise, the main activity is stocks: spare parts, raw materials, finished products, etc., since it is stocks that provide the entire production process and, as a result, directly affect the financial result of the business entity. It is on the reliability and quality of the information generated within the accounting of the reserves of an economic entity that the size of the actual cost of production, the amount of revenue from the sale of products to buyers and customers, the amount of net profit, the amount of taxes transferred to the budget, the profitability of production, as well as overall efficiency and competitiveness in the market depend. Purpose: to consider the features of accounting for stocks, long-term assets intended for sale, low-value fixed assets. To assess the impact of changes in the regulatory framework on the accounting and analytical system of an economic entity. To identify problematic aspects of the organization of the accounting and analytical system of inventory values. Research design: this article raises the issue of the importance of reliable accounting of inventory of inventory values of an economic entity and focuses on its fundamental role in the financial result of the company’s activities. Based on the importance of inventory accounting, it is proposed to systematically conduct a comprehensive inventory of goods and materials in warehouses, and also develops the main forms of reports necessary to optimize the inventory management process, namely: the form of the list of planned insurance stock, the form of the act of assessing the condition of goods and materials, the form of the list of illiquid spare parts intended for sale, the form of the act of writing off illiquid stocks, the form of the consolidated report on inventory balances. Results: a comprehensive inventory with an assessment of the physical condition of the goods and materials will allow to identify and solve problems at an early stage, without leading to a critical moment. Inventory items located in warehouses can not only participate in the company’s production process, but also become an additional source of rational resource allocation, but for this it is extremely important to keep all the accounting documentation previously described in the article and make management decisions based on the data of the consolidated report. Based on the reliable data obtained, it becomes possible to determine the company’s production prospects. It is necessary to estimate how much the company will be able to work on those materials and components that it has: correlate the data obtained during the inventory with the planned indicators.