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FEATURES OF INTERNAL CONTROL OF INVENTORIES
Dariush Mariya Alekseevna1, Grekova Vita Anatolievna2
1Crimean Federal University named after V.I. Vernadsky, Institute of Economics and Management, student of the 4th year of full-time study
2Crimean Federal University named after V.I. Vernadsky, Institute of Economics and Management, candidate of economic Sciences, associate Professor of the Department of accounting, analysis and audit
1Crimean Federal University named after V.I. Vernadsky, Institute of Economics and Management, student of the 4th year of full-time study
2Crimean Federal University named after V.I. Vernadsky, Institute of Economics and Management, candidate of economic Sciences, associate Professor of the Department of accounting, analysis and audit
Abstract
The article examines the stages of internal control of inventories held by the internal auditor, and the violations with which he may encounter in carrying out a certain stage of internal control. These stages include: the stage of internal audit of inventories; Verification of the existence of inventories; Checking the completeness of the reflection of inventories in the accounting; Control over compliance with the provisions of regulations that regulate the accounting of inventories; Verification of the grounds for recognition of inventories in accounting; Valuation of inventories; Checking of the distinction between the reporting period of the inventories; Checking the disclosure of information in financial statements.
Keywords: financial statements, internal control, inventories, primary documents, procedures, registers
Category: 08.00.00 Economics
Article reference:
Features of internal control of inventories // Modern scientific researches and innovations. 2017. № 4 [Electronic journal]. URL: https://web.snauka.ru/en/issues/2017/04/81859
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