Once a year, the company is required by law to carry out an inventory, usually at the end of the year, because it is a fundamental element of the balance sheet and necessary to regularize quantities and stocks and calculate the profit and loss account. Therefore, all companies have strict and equal control over their goods. Companies that market this type of product work with large rotating stocks; And in these cases, individualized control of each item through a permanent inventory requires high costs and administrative complexity. Systems technologist and software developer. Expert in web technologies and Python. Manager of SMS Consulting with many years of experience in inventory with technology in Ecuador and other countries such as Costa Rica. Article 37 provides: “The inventory book shall be opened with the detailed initial balance of the commitment. The accounts are transcribed with the amounts and balances at least quarterly. This book records annually the inventory, balance and profit and loss accounts, which are prepared in accordance with generally accepted accounting criteria. In our inventory audits, we typically perform the following inventory standards and procedures. – Advances in Sencico Computer, item coding and “robotization” have made it possible to carry out these checks and facilitate the task in sectors where their high cost was unthinkable.
For example, the scanner allows self-service companies to control all products through permanent inventory without the need to create classifications. Nevertheless, category “A” elements will be monitored more closely and managers will devote more time and effort to managing them. Some companies control certain products through a permanent inventory and others through periodic stocks. For example, products stored for a short time, the characteristic of which is a constant supply and quick sale, such as stationery and school supplies, fruit and vegetable products, sweets and nuts sold in bulk, etc. It is important to maintain complete control of goods when managing inventory, which is why inventory is so important when the quality of its management is demonstrated. In addition, it will help us to carry out checks, to find obsolete and deteriorated materials, to introduce improvements, to reunite families more efficiently, in short, to continuously improve. Article 39 refers to the valuation of stocks and provides: “Without prejudice to the provisions of special laws, balance sheet items shall be valued on the basis of objective criteria which safeguard the interests of third parties and respect the principles necessary for sound and prudent economic management of the undertaking. The continuity of the evaluation criteria must be maintained and cannot be changed without justified reason, which must be expressed in the inventory and in the balance sheet book itself. Every six months, we teach the Golden Rules of Inventory Control course. We do this virtually or physically for people who ask us. In these courses, we work with an internal control workshop for the inventory sector. Inventories for resource-intensive retail businesses or factories are one of the most important elements of their financial situation, and it is worth preventing rather than regretting them.
That`s why we`ve created these 10 golden rules of internal control that every company must follow. Once the classification is established, category “A” items are controlled by permanent stocks, these are the products that bring the greatest benefit to the company. The rest of the items can be controlled by periodic inventories; This reduces administrative costs for permanent registrations. The valuation rules of the PGC comply with the rules of the Commercial Code and the consolidated version of the Companies Law and are based on the principle of “prudent valuation”; That is to say, an overvaluation of the inventory leads to an estimate of the company`s results and subsequently distributing non-existent dividends. According to the dictionary, “the inventory is a detailed and estimated periodic statement of the assets and rights that a company owns at a given time and the amounts it owes.” The ABC method is used to classify stocks; Three categories of products are defined according to their importance, stocks, value or investment. DIRECTIVE GG/OAF N° 014-2006SENCICOTITLE: “RULES AND PROCEDURES FOR THE PHYSICAL INVENTORY OF GOODS AND STOCKS IN SENCICO”Approved by: Directorate-GeneralDate of approval10 / 11 / 2006Reempleza a:GG/OAF N°.
008-2003Nº Pages:06Release date:13 /11/ 2006I. OBJECTIVE1.1 To establish the procedure for carrying out an adequate inventory of the assets allocated to the dependencies of SNCICO`s headquarters and zoning administrations andstocks.II.PURPOSE2.1 A physical inventory of assets which fairly supports SENCICO`s financial statements.2.2 Com because are the balances obtained at Starting from the product of the actual inventory of the verification to be carried out, with the information recorded by the accounting department to make the necessary adjustments. III.LEGAL BASIS3.1 Political Constitution of Peru of 1993, art. 81°3.2 Legislative Decree No. 22056.- Pension scheme3.3 Legislative Decree No. 22056.- Pension scheme3.3 Legislative Decree No. 22056.- Pension scheme3.3 Legislative Decree No. 22056.- Pension scheme3.3 22867.- Law on the deconcentration of staff powers, pensions and rationalization systems.3.4 Supreme Decree No. 154-2001-EF.- Reg la mento General de Procedimientos Administrativos de los bienes de propiedad Estado, amended by Supreme Decrees: No. 107-2003-EF, No. 042-2006-EF and 164-2006-EF.3.5 Resolution No. 158-97-SBN.- National Catalogue of State Movable Property.3.6 Resolution No.
039-98-SBN.- Regla mento para el Inventario Nacional de Bienes Muebles del Estado.3.7 Resolución Jefatural No. 118-80-INAP/CNA. – Normas Generales del Sistema deabastecimiento (SA. If the depreciation is irreversible, this shall be taken into account in the stock assessment. “.
