The inventory is the prerequisite for a annual accounts. This refers to the physical inventory of assets. For this purpose, these goods stored in the company are physically counted, measured and weighed.
Various methods can be used to carry out this inventory:
Inventory on the balance sheet date
All goods are recorded on the balance sheet date by physical counting, weighing or measuring.
Deviating closing date inventory
All inventories are physically determined in a certain period before or after the balance sheet date. However, a suitable recording system must ensure that the stock on the balance sheet date can be correctly determined by means of an appropriate calculation.
Permanent inventory
The stock of goods in the company is planned at various points in time in the fiscal year physically recorded. A comparison is made with the records made. It must be guaranteed that each asset is recorded at least once a year. It is also decisive here that the Stock can be correctly determined as at the balance sheet date.
Inventory sampling
Based on valid methods of statistics or/and mathematics, the value and quantity of the economic goods are determined in connection with random samples.
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