Authors:
Advincula
♥ GONZALES, LUIS ACUNA
♥ SANDOVAL, SAUL
BED ♥ CHAMORRO, HERNAN PEREZ
ATAUSINCHI ♥ JOSE ♥ HUANCACURI
DAMIAN, MARILU
Friday, August 25, 2006
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Authors
Authors:
Advincula
♥ GONZALES, LUIS ACUNA
♥ SANDOVAL, SAUL
BED ♥ CHAMORRO, HERNAN PEREZ
ATAUSINCHI ♥ JOSE ♥ HUANCACURI
DAMIAN, MARILU
Authors:
Advincula
♥ GONZALES, LUIS ACUNA
♥ SANDOVAL, SAUL
BED ♥ CHAMORRO, HERNAN PEREZ
ATAUSINCHI ♥ JOSE ♥ HUANCACURI
DAMIAN, MARILU
Telephone Directory Bangalore
INVENTORY
Index:
1. INTRODUCTION
2. INVENTORIES
- Presentation of the problem
-
- Objectives Importance
3. CHAPTER I
- Inventory (definition)
- inventory preparation phases
4. CHAPTER II
- inventory Parties
5. CHAPTER III
- inventory classes
- inventory types
a) Periodic inventory or physical
b) continuous or perpetual inventory
7. conclucion
8. BIBLIOGRAPHIES
9. ANNEX (group dynamics: Conference)
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Introduction Chapter I Chapter II
Introduction
Currently the development of micro and medium enterprises (SMEs) driven by various government policies is common in our country . As a result a group of students electronics students have tried to develop on a fundamental and important in the creation and existence of a company's inventory. Here are the most important develop the said issue.
Inventories
1. Presentation of the problem
Only with the inventory can discover inconsistencies in the existence of storage, quantitative and qualitative bad sites, deposits which are repeated year after year, duplication of staff to rectify errors, etc. All this becomes a threat for the company, amount always important. The life of an industrial company remains with the materials purchased, processed and sold. Inventories of materials are the key production management and sales. The inventory control prevents excess material is left idle on the shelves of a warehouse, causing losses for the cost of maintaining them. Keep idle inventory investment costs money. If the control reduces inventory investment, the money saved can be invested in something profitable, such as the interest paid by a bank, or the renewal or extension of the plant, which increases profits. All inventory control must address the following issues: How much should be ordered. When to put the purchase order or manufacturing.
2.Objetivos
main objective of an inventory control system is to find the most economical balance between two different costs that are in conflict: the acquisition and storage. To determine with accuracy the securities that comprise its assets and liabilities, to determine at any time its financial position. Determines the goods and rights that a company possesses. Offer a great opportunity to make findings, make improvements, correct habits.
Manage ventas.Impide production and excess material that becomes unproductive.
3. Importance
Importance inventory lies in adding operational flexibility that would otherwise not exist in any organization. In manufacturing, in-process inventories are an absolute necessity, unless each individual part is carried from machine to machine and that they are prepared to produce a single party can say it is also important because it eliminated the irregularities in the tender in purchase or production lots or batches and allow the organization to manage perishable materials.
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Inventory
is also considered as the first book of accounts, we can say that is a compelling book main foliation and simple to register the property and assets, debts or obligations you have and tell you a company or entity.
For example, if a parent is YES. 2 000.00 and the use of:
Buying a computer for SI.
800.00 Buy a printer by SI.
400.00 Buy supplies for the house itself.
300.00 Deposit in Account Savings SI. SI
500.00. 2 000.00
After carrying out its activities the parent recounts the money, ie compare the value of goods bought and the savings deposit, with the total money that was at first. In fact, the total assets and rights that has made equal to the cash (capital) held.
Inventory
1. Definition:
is also considered as the first book of accounts, we can say that is a compelling book main foliation and simple to register the property and assets, debts or obligations you have and tell you a company or entity.
For example, if a parent is YES. 2 000.00 and the use of:
Buying a computer for SI.
800.00 Buy a printer by SI.
400.00 Buy supplies for the house itself.
300.00 Deposit in Account Savings SI. SI
500.00. 2 000.00
After carrying out its activities the parent recounts the money, ie compare the value of goods bought and the savings deposit, with the total money that was at first. In fact, the total assets and rights that has made equal to the cash (capital) held.
case of a company like this would come as a parent as we shall see later.
2. Stages of preparation of the inventory
preparation of the inventory must be careful administrative work which includes the following phases:
identify all the active elements, liabilities and assets.
- Description of all elements, characterizing their individuality
- rating of each element
- convenient grouping of items in response to accounting homogeneity criteria
- Sum of values \u200b\u200band homogeneous groups separate asset aggregation and liabilities.
- difference between assets and liabilities by determining the net worth
- comparison with the net above for overall changes during the experimental period.
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CHAPTER III
inventory classes
- 1. Beginning inventory
- 2. Inventory Inventory closing or final special
- 3. Special
- 4. Inventory sheets
1. Beginning inventory is done when the company opened its activities, is the origin of the accounts, determining the first game of each.
2. Closing or ending inventory is done at the end of a fiscal year, determining their assets, liabilities, and capital resources owned by the company (as at 31 December each year).
3. Special inventory only is made a part of assets and liabilities of the company in order to understand the situation.
4. Inventory sheets is a way to enhance detail, these sheets have to be legalized so they can be filled.
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inventory Parties
I. Active
II.) Liabilities
III). Summary
IV). Inventory Balance
I. Active
1. Accounting periods actions
represents a right of ownership or value acquired as are sets of goods, values \u200b\u200band rights that the company has either short or long term eg money, goods, property , machinery, equipment, etc. All those accounts that have assets accounting balance deudor.ones.
1.1
financial or accounting year period .
is the time from 02 January to 31 December each year, in which the company conducts its operations. There are two kinds of economic times. 1.1.1 Period
regular economic . comprises from 02 January to 31 December each year. 1.1.2
regular economic period. Understood at the time that gives the company started its activities until 31 December each year knowing the concept of economic times the assets are divided into two parts. Values \u200b\u200band rights groups with the company in a financial period, ie from 02 January to 31 December each year.
Asset 2.Clases
2.1.1 Current assets or available. Groups
cash and checks for the company possesses and can use at any time of economic times.
account includes:
10 Cash and cash equivalents, the general accounting plan revised. 10.1
box (cash) 10.2
fixed Funds (Petty Cash)
Remittances in transit 10.4 10.3 Current accounts (checks or deposit)
Receivables 2.1.2. Are grouped in this asset class at all documents deemed to have been paid. Examples
Represents accounts, general accounting plan reviewed: 12 Clients
Free Invoice receivables receivables.
14 Accounts receivable from shareholder (or partner) and personal.
16 Other accounts receivable.
2.1.3 Current assets. Consisting of stocks and operational in a transaction can be converted into cash.
includes accounts of the general accounting plan reviewed:
20 21 Products Finished Goods
22-products, waste and waste products in the process
23 24 Raw Materials and Packaging Aids
25 Miscellaneous Supplies
26 2.2 Non-current assets or long term.
groups all assets held by a company in a time comprised more than one period.
The non-current assets include:
Asset 2.2.1. Are sets of durable goods has the company, which conducts its business and are not constantly changeable. Eg furniture, land, buildings, machinery, equipment, etc. Account includes 33 Property, plant and equipment, general accounting review. 2.2.2 Active
deferred. This asset is recorded on the debit for costs not applicable as the exercise load, subject to future settlement, then we say that any advance is that the company has to have benefits later.
Example:
Advancement of rent, insurance payments in advance, charges 38 etc.Comprende deferred account, the General Accounting Plan Revised.
2.2.3 Other assets or investments. includes 31 bills and 34 Intangible Values \u200b\u200bof Forming
PCGR:
Shares Bonds
Patents and Trademarks Patents and trademarks
research expenses.
II. Liabilities Groups
all debts, obligations and commitments they have a firm, contracted with second and others; obligations that may be valued and affect or may affect the entire property (commitment to comply), risks and responsibilities assumed by the company in finding the person shows the financing of investments or sources of funds (money or credit) that have been assigned to the company.
Passive Classes
1. Current or short-term liabilities
1.1
liabilities. represents debt or obligation cancelable only within a financial period.
Example: Bank overdrafts
Taxes payable salary statements
Searches Accounts payable, dividends payable
(once a year)
CTS (semiannual deposits)
2. Non-current liabilities and long-term
2.1 Liabilities unenforceable. Groups debts, obligations and commitments that a company has more than an accounting exercise.
Long Term Debt Long-term Loans received
Settlement benefits, retirement
Provino for future sales losses
Deferred interest, etc.
includes the following accounts of the revised general plan: 40, 41, 42, 45, 46 and 47 at its outlet.
Heritage. Joint of property they own a company acquired by any title that includes PCGR Class 5 of these accounts are: 50, 56, 57, 58 and 59
III Summary
is the part that performs the Comparisons between total assets to total liabilities, to see the capital of the company. Representation:
Capital = Assets - Liabilities
If the asset is greater than the liability we outline a Balance Sheet as positive.
If the liability is greater than the assets we have as short a negative equity balance.
inventory IV Balance
is an equation equity, is to balance all active against all liabilities, plus equity. Formula: Total assets = Total liabilities + shareholders
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Chapter III Conclusion Chapter IV
1. Periodic inventory or physical.
In the periodic inventory system, the business does not maintain a continuous record of inventory, rather, the end of the period, the business makes a physical count of inventory available and applied unit costs to determine the cost of inventory final.
This method is supported to experience the company has had in the previous period, in relation to the profit margin. All is known that the selling price of an item is made by a party representing the cost of purchase or manufacture of that article and elsewhere is the gross profit that the employer wishes to make is:
This other method to estimate the inventory at any time and is used basically in those companies where it is sold retail or retail goods, such as department stores. This industry need, usually to prepare financial statements in interim dates for which closure is necessary to have the amount of inventory for those dates. It is obvious to take monthly physical inventory in this type of business is an arduous task that justifies use estimation methods, because if the calculation process is carried out carefully and systematically, the cost of certain inventory and closer, reasonably, the result would be obtained by physical inventory.
To apply this method requires estimates of inventories that are given a series of conditions. For clarity in explanation, we will build on the case developed in the illustration.
Price: 30600.00
initial inventory ..................................... .......................... 43 Net purchases 98200.00 100.00
........................................
900.00 .......................... 140 .............. 128,800.00 Merchandise available
...................................... 140 900.00 Less: sales (at cost sale) ................................................ ... Current inventory
139 000.00 (a ).................................. selling price 45 ............... Cost-
000.00 - sale price: 128 800.00 x 100 = 70% ... 184 000, 00
Current inventory at cost: 45 000.00 x 70 ........ ......... 3150 000.00 "The day 01/01/1998
For the first exit, the 80 items out at the price of the first post: 300.
For the second exit, we still have 20 articles of the first inning to get to 300
then exhausted items in the first inning, the next 20 will come at the price of the second input, ie, 200.
is, the 40 articles of the second exit out:
20 to 300.
20 to 200.
We still have in stock 180 articles of the second input to output 200 for the following items (if any).
CHAPTER IV
inventory types
- Periodic inventory or physical
- continuous or perpetual inventory
1. Periodic inventory or physical.
In the periodic inventory system, the business does not maintain a continuous record of inventory, rather, the end of the period, the business makes a physical count of inventory available and applied unit costs to determine the cost of inventory final.
The periodic table is generally used to account for inventory items that have a low unit cost.
This inventory is generally used by small and medium . registration transactions made himself, along with taking inventory and its corresponding physical valuation, permit the development of important financial statement called the profit and loss.
The cost of goods sold and inventory balances are calculated only at the end of the accounting period, when taking a physical inventory.
-Opening Inventory + Purchases = Ending Inventory Cost of Selling Art
1.1 Method periodic inventory.
The merchandise that comes in is recorded in the purchase account in order to make a single adjusting entry to accrue the cost of sale in a separate account. O There are basically two methods to determine the inventory may, at any given time, replace the physical count method:
1.1.1 gross profit method.
This method is supported to experience the company has had in the previous period, in relation to the profit margin. All is known that the selling price of an item is made by a party representing the cost of purchase or manufacture of that article and elsewhere is the gross profit that the employer wishes to make is:
Sales Price = cost + profit sales.
From the relationship suggested:
cost of sales = selling price - utility.
If in addition to, the accounting records enables us to determine the cost of goods available, we can determine the cost of merchandise inventory that exists for that date as well:
Merchandise inventory = goods available - cost of sales.
can be observed that to obtain the amount of inventory by this method, the action is confined to determine the goods available and the cost of sale. The gross profit method can be used only to determine non-ending work, but also to calculate the balance of any accounts related to sales and cost of sales.
1.1.2. Method of retail sales.
This other method to estimate the inventory at any time and is used basically in those companies where it is sold retail or retail goods, such as department stores. This industry need, usually to prepare financial statements in interim dates for which closure is necessary to have the amount of inventory for those dates. It is obvious to take monthly physical inventory in this type of business is an arduous task that justifies use estimation methods, because if the calculation process is carried out carefully and systematically, the cost of certain inventory and closer, reasonably, the result would be obtained by physical inventory.
To apply this method requires estimates of inventories that are given a series of conditions. For clarity in explanation, we will build on the case developed in the illustration.
Price: 30600.00
initial inventory ..................................... .......................... 43 Net purchases 98200.00 100.00
........................................
900.00 .......................... 140 .............. 128,800.00 Merchandise available
...................................... 140 900.00 Less: sales (at cost sale) ................................................ ... Current inventory
139 000.00 (a ).................................. selling price 45 ............... Cost-
000.00 - sale price: 128 800.00 x 100 = 70% ... 184 000, 00
Current inventory at cost: 45 000.00 x 70 ........ ......... 3150 000.00
2. Continuous or Perpetual Inventory
The Perpetual Inventory system, the business maintains a continuous record for each inventory item. Records show so the available inventory at all times. Perpetual records are useful for preparing monthly financial statements, quarterly or provisionally. The business can determine the cost of ending inventory and cost of goods sold directly from their accounts without having to count the inventory.
The perpetual system offers a high degree of control, because the inventory records are always updated today with this method, managers can make better decisions about the quantities to be purchased, the price to pay for the inventory, setting customer pricing and terms of sale to offer. The knowledge of the available amount helps protect inventory.
The derivation of the balance of each account includes inventory:
Beginning Balance + Additions (Shopping)
- Decreases Cost of goods sold = Balance Final
The balance of the inventory under the perpetual system should result in the cost of inventory available at any time.
perpetual inventory records provide information for the following decisions:
Most furniture stores, save the merchandise in their stores, so employees can not visually inspect the merchandise available and respond at that moment . The perpetual system will prompt the timely availability of such goods.
perpetual records alert the business to reorganize the inventory when it is shown below.
If companies prepare financial statements monthly, perpetual inventory records are the final inventory exists, no need for a physical count at this time, however, requires a physical count once a year to verify the accuracy of records . In this type of inventory records are kept continuous, daily flow and inventory and cost of goods sold.
The perpetual system offers a high degree of control, because the inventory records are always updated today with this method, managers can make better decisions about the quantities to be purchased, the price to pay for the inventory, setting customer pricing and terms of sale to offer. The knowledge of the available amount helps protect inventory.
The derivation of the balance of each account includes inventory:
Beginning Balance + Additions (Shopping)
- Decreases Cost of goods sold = Balance Final
The balance of the inventory under the perpetual system should result in the cost of inventory available at any time.
perpetual inventory records provide information for the following decisions:
Most furniture stores, save the merchandise in their stores, so employees can not visually inspect the merchandise available and respond at that moment . The perpetual system will prompt the timely availability of such goods.
perpetual records alert the business to reorganize the inventory when it is shown below.
If companies prepare financial statements monthly, perpetual inventory records are the final inventory exists, no need for a physical count at this time, however, requires a physical count once a year to verify the accuracy of records . In this type of inventory records are kept continuous, daily flow and inventory and cost of goods sold.
2.1 Methods perpetual inventory
methods always be valued at cost (purchase price or production), which should include: the value of the product and transportation costs (customs, insurance, etc.) There are several methods of valuation of our inventory: FIFO, LIFO, STANDARD, SIMPLE AND WEIGHTED.
2.1.1 FIFO Method .- Fist In First Out (First in, first out)
This method allocates the unit that leaves the value of the first that came. The existence coming out is supposed to be the oldest. Let's see an example:
100 items enter 300.
"The day 01/02/1998 200 items enter 200.
On 02/01/1998 -out 80 items. (Calculate the starting price)
On 03/01/1998 -out 40 items. (Calculate the starting price)
For the first exit, the 80 items out at the price of the first post: 300.
For the second exit, we still have 20 articles of the first inning to get to 300
then exhausted items in the first inning, the next 20 will come at the price of the second input, ie, 200.
is, the 40 articles of the second exit out:
20 to 300.
20 to 200.
We still have in stock 180 articles of the second input to output 200 for the following items (if any).
2.1.2 .- Method LIFO Last In First Out (last in, first out)
This method maps to the unit that leaves the value of the last one entered. The existence coming out is supposed to be the newest. Let's see an example with the same moves as the previous example:
-enter the day 01/01/1998 100 items 300. On 02/01/1998
-hold 200 items to 200. On 02/01/1998
-out 80 items. Will go to 200. (Price of the last entry) On 03/01/1998
-out 40 items. Will go to 200. (Prices in the last entry has not yet been exhausted and we still have 80 items to get to 200. Once exhausted, the next exit would be at 300).
2.1.3. Standard method.
-enter the day 01/01/1998 100 items 300. On 02/01/1998
-hold 200 items to 200. On 02/01/1998
-out 80 items. Will go to 200. (Price of the last entry) On 03/01/1998
-out 40 items. Will go to 200. (Prices in the last entry has not yet been exhausted and we still have 80 items to get to 200. Once exhausted, the next exit would be at 300).
2.1.3. Standard method.
This method values \u200b\u200bthe units that enter or leave at a certain price.
rating by the FIFO method .- This method is to assign the average value of the units coming out. There are two types of averages: simple and weighted . Average
simple: average is applied when the units have been bought out at various prices. Consider the example:
-purchase of 500 units to 200
-Purchase of 400 units to 230
-sales of 400 units to 200
-Sale of 250 units to 215
At the first exit, and leave only 400 units and they are all within the first entry, does not apply any type of average to calculate the starting price. But at the second exit, and exit 100 of the first inning and 150 of the second, what you do is calculate the average price. This average is found by adding the unit prices of the inputs are affected, and this sum is divided by the number of prices have been affected. In this case would be:
(200 + 230) / 2 = 215
Weighted average: applies to the entire store. It is perhaps the best method for stock inventory as it takes into account the quantities and input prices to calculate the output value. This method has some complexity if you want to do by hand. Consider the steps to follow:
-entry units are multiplied by their value
-multiply units already exist in the store for a price-weighted average
results are summed
"He divided the existing units plus the units just entering
Let's see how we got to set the PMP for each outgoing
" When we had no input, we made an entry of 300 units in stock 200. The value of the stock becomes 60,000.
"In the second movement, hold 200 units to 220, or an entry of 44,000. To calculate the PMP do the following:
Before: 300 x 200 = 60,000
Now: 200 x 220 = 44 000 -------
104,000 units in 500 pts
The PMP is 104,000 / 500 = 208 / unit
"In the third movement out 100 units with a value indicated by PMP calculated. There are fewer units in the store, but the PMP is maintained.
-enter the fourth movement in 1000 to 215 units. The calculation is:
Before: 300 x 200 = 60,000
Now: 200 x 220 = 44 000 -------
104,000 in 500 units
The PMP is 298,000 / 1400 = 213 / unit must
Stocks measured at least once during the accounting period. Once the stock is valued should make the book entry. Suppose that on 01.01.1998 we have started the activity of the company and its accounting. Arriving at 31 December we have 100,000 in stock. As we started we had no, we would realize the following Seat:
________________________ 31 - 12 to 98 stocks to ____________________________
100,000 100.000Por Variation in physical count of stock.
rating by the FIFO method .- This method is to assign the average value of the units coming out. There are two types of averages: simple and weighted . Average
simple: average is applied when the units have been bought out at various prices. Consider the example:
-purchase of 500 units to 200
-Purchase of 400 units to 230
-sales of 400 units to 200
-Sale of 250 units to 215
At the first exit, and leave only 400 units and they are all within the first entry, does not apply any type of average to calculate the starting price. But at the second exit, and exit 100 of the first inning and 150 of the second, what you do is calculate the average price. This average is found by adding the unit prices of the inputs are affected, and this sum is divided by the number of prices have been affected. In this case would be:
(200 + 230) / 2 = 215
Weighted average: applies to the entire store. It is perhaps the best method for stock inventory as it takes into account the quantities and input prices to calculate the output value. This method has some complexity if you want to do by hand. Consider the steps to follow:
-entry units are multiplied by their value
-multiply units already exist in the store for a price-weighted average
results are summed
"He divided the existing units plus the units just entering
Let's see how we got to set the PMP for each outgoing
" When we had no input, we made an entry of 300 units in stock 200. The value of the stock becomes 60,000.
"In the second movement, hold 200 units to 220, or an entry of 44,000. To calculate the PMP do the following:
Before: 300 x 200 = 60,000
Now: 200 x 220 = 44 000 -------
104,000 units in 500 pts
The PMP is 104,000 / 500 = 208 / unit
"In the third movement out 100 units with a value indicated by PMP calculated. There are fewer units in the store, but the PMP is maintained.
-enter the fourth movement in 1000 to 215 units. The calculation is:
Before: 300 x 200 = 60,000
Now: 200 x 220 = 44 000 -------
104,000 in 500 units
The PMP is 298,000 / 1400 = 213 / unit must
Stocks measured at least once during the accounting period. Once the stock is valued should make the book entry. Suppose that on 01.01.1998 we have started the activity of the company and its accounting. Arriving at 31 December we have 100,000 in stock. As we started we had no, we would realize the following Seat:
________________________ 31 - 12 to 98 stocks to ____________________________
100,000 100.000Por Variation in physical count of stock.
EXAMPLE
perpetual or continuous Inventory:
A company that trades in TVs, which purchase the higher S /. 70,000 each and retails for 80,000 Bs his seat would be:
Beginning inventory - 4 units ........................... .............. S /. Buy
280,000 for the period - 10 Units ............................ S /.
700,000 sold in the period - 9 units: Price .................................... ........... S /.
720,000 Cost of units sold ................. ............. S /. Final Inventory
630,000 - 5 units ....... ........................... S /.
350,000 Initial Inventory: 280,000
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Conclusions
Having collected the following information was taken out the conclusions that the inventory is essential in the creation and existence of a company or, as it can take stock of has this property. The lack of an inventory in a company lead to the collapse of this, because there would be a disruption as a result of deficiencies or excess assets would be made poor decisions in the management of the company.
LUMBRERAS Bibliography. User Manual. Editorial CEVATEC. Lima 2001
FACIA CANTÚ. Alfonso. Practical approaches for planning and inventory control. Mexico 2001
DICKSON, Den. Improve your business. Manual. Geneva 2001
ZEBALLOS ZEBALLOS, Erly. Basis of Accounting. BUFFETI, M. Accounting stores. Editorial DISTREZA SA Spain n_del_inventari http://es.wikipedia.org/wiki/Rotacià ³ http://www.mailxmail.com/curso/empresa/contabilidad/capitulo13.htm http://www.manapro.com.ve/index.asp?spg_id=83
CONF erence
Features
is a technique explosive centered instructor, is an oral, that may be followed by discussion.
How do you prepare?
1. Preparation of the conference, considering aspects such as: Time, Topic, Justification and Auditorium.
2. Proceedings of the conference, including an introduction, the exposure of the thesis, supported with examples, demonstrations and illustrations, a question period, and finally the synthesis of the proposed topic.
What is ?
Provide information to many in a short time. Convey expert knowledge in a systematic way in a given time (20 minutes). It also serves to motivate and persuade.
Limitations.
Poor
possibilities of participation among group members. If the speaker does not have good communication skills may get bored.
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