ORGANIZATION OF PRODUCTION INVENTORY ACCOUNTING AND MAIN DIRECTIONS OF ITS IMPROVEMENT AT AN ENTERPRISE

Abstract

The organization and skill of inventory management at the enterprise fully depends on the overall efficiency and effectiveness of the business entity's activities. As is well known, inventory is an asset of the enterprise, and it is they who act as a significant component of current assets used by the enterprise. This, in turn, provides for their use within one year (one operating cycle). In the nomenclature dimension, the category "Inventory" includes: raw materials, materials, fuel and lubricants, building materials, spare parts, purchased semi-finished products, component parts, commodity and material values, etc. It is the accuracy and completeness of the organization and accounting for the availability, use and proper storage of inventory that directly and immediately affects the activities of the business entity. Information, analytical and control processes for inventory accounting affect financial and economic indicators. These processes, accordingly, affect the taxation of the enterprise. The article reveals the classification features of production stocks throughout their full life cycle. Stage-by-stage control procedures for the presence of production stocks, receipt, disposal, storage and reflection in the enterprise's documentation, both primary and accounting registers, are carried out. Methods and their completeness for writing off stocks with appropriate reflection in the accounting and financial reporting of the enterprise are analyzed. The organization of the entire inventory accounting process with stage-by-stage ways of documenting them is studied. Information and software support for inventory accounting at the enterprise is proposed, their documentation is detailed in accordance with the regulatory and legal framework. The organization of warehouse accounting of stocks and the availability of stocks in the accounting service of the business entity is highlighted. Information on production stocks in the reporting of enterprises is disclosed. An analysis is carried out and ways to improve the primary accounting of the use, assessment and movement of production stocks are proposed. According to the results of the study, it is precisely to improve accounting for production inventories that the introduction of additional technologies is proposed, such as the RFID system, the Just-in-Time (JIT) system, which consists in reducing storage costs but does not allow for production downtime, or the Vendor-Managed Inventory (VMI) system, to ensure timely supply of inventories and avoid excess inventory.