Engagement Wishesh Sms

Inventory

Chapter I

Inventory


1. Definition:

statement or listing is the detailed, orderly, properly classified and valued of all components of an estate (assets and liabilities) to determine the results to date and status of a firm's assets .

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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