Approved by the Ministry of Finance of the Republic of Uzbekistan on October 19, 1999, No. EG/17-19-2075

National Accounting standard of the Republic of Uzbekistan NSBU No. 19 "Organization and carrying out inventory count"

1. General provisions

1.1. This National accounting standard (further - the Standard) is developed according to the Law of the Republic of Uzbekistan "About financial accounting".

1.2. This standard establishes procedure for carrying out inventory count of assets and liabilities and registration of its results by business entity, including the organizations, the main activities which it is financed by budget funds.

1.3. Main objectives of inventory count are: identification of the actual availability of property; comparison of the actual availability of property to accounting data; check of completeness of recognition of obligations.

1.4. Inventory counts are subject all assets and liabilities of business entity irrespective of its location.

Besides, inventory counts are subject the production supplies and other types of property which are not belonging to business entity, but registered in financial accounting (being on safe custody, leased, received for conversion), and also the property which is not considered for any reasons.

Inventory count of property is made on its location and the responsible person.

1.5. Carrying out inventory count is obligatory:

- in case of cession of property in lease, the redemption, sale, and also in cases, stipulated by the legislation when transforming the state company (privatization);

- before creation of the annual financial reporting, except property which inventory count was carried out not earlier than October 1 of accounting year. According to the National accounting standard of the Republic of Uzbekistan (NSBU) No. 4 "Inventory stocks" (reg. No. 1595 of July 17, 2006) inventory count of inventory stocks is made at least once a year. In compliance snatsionalny accounting standard of the Republic of Uzbekistan (NSBU) No. 5 "Fixed assets" (reg. No. 1299 of January 20, 2004) inventory count of fixed assets is made at least once in two years, and library stocks - once in five years.

Inventory count of money, cash documents, values and forms of the strict accounting is carried out once a month, fuels and lubricants, food quarterly, precious metals - according to industry instructions.

In certain areas and at the companies with seasonal nature of work, inventory count of production supplies is carried out to the period of their smallest remaining balance:

- in case of revaluation of fixed assets and inventory items;

- when changing responsible persons (on the date of acceptance of transfer of cases);

- in case of establishment of the facts of plunders or abuses, and also spoil of values;

- in case of the natural disasters, the fire, accidents or other emergency situations caused by extreme conditions;

- in case of liquidation (reorganization) of business entity before creation of liquidation (dividing) balance sheet and in other cases provided by the legislation.

1.6. In case of collective financial responsibility inventory count is carried out when changing the head of collective, in case of disposal from collective more than fifty percent of his members, and also upon the demand of one or several members of collective.

2. General rules of carrying out inventory count

2.7. The number of inventory counts in reporting year, date of their carrying out, the list of assets and liabilities, is established by the head of business entity, except the cases provided in Items 1.5. and 1.6. this standard.

2.8. For carrying out inventory count on business entities permanent inventory-taking groups in structure are created:

head of business entity or his deputy (commission chairman);

the head of service of financial accounting (further - the chief accountant);

other specialists (engineers, economists, technicians etc.).

It is possible to include representatives of service of internal audit of business entity in structure of inventory-taking group.

During the large volume of works for simultaneous carrying out inventory count of assets and liabilities working inventory-taking groups, in structure are created:

the representative of the head of the business entity who appointed inventory count (commission chairman);

specialists: the merchandiser, the engineer, the technologist, the mechanic, the operator, the economist, the employee of service of financial accounting (further - accounts department), etc.

The commissions shall be included the experienced workers well aware of the inventoried values, the prices and primary accounting.

It is forbidden to appoint as the chairman of working inventory-taking group at the same responsible persons of the same worker two times in a row.

The members of permanent and working inventory-taking groups are approved by the head of business entity (the order, the resolution, the order according to Appendix N 1).

Absence at least of one member of the commission when carrying out inventory count forms the basis for recognition of results of inventory count invalid.

2.9. Permanent inventory-taking groups:

- carry out scheduled maintenance on ensuring safety of values, if necessary hear at the meetings heads of departments, shops, sections concerning safety of values;

- will organize carrying out inventory counts and perform instructing of members of working inventory-taking groups;

- perform control checks of correctness of carrying out inventory counts, and also selective inventories of inventory items in storage locations and conversions during the interinventory period;

- check correctness of removal of results of inventory counts, justification of the offered offsettings on regrading of values on bases, in warehouses, storage rooms, shops, construction sites and in other storage locations;

- in necessary cases (in case of establishment of severe violations of rules of carrying out inventory count, etc.) carry out repeated continuous inventory counts at the request of the head of business entity;

- consider the explanations received from persons which allowed shortage or spoil of values, and also other violations and give offers on procedure for regulation of the revealed shortages and losses from spoil of values.

2.10. Working inventory-taking groups:

- perform inventory count of values and money in storage locations and productions;

- together with accounts department of business entity participate in determination of results of inventory count and develop offers on offsetting of shortages and surplus on regrading, and also write-off of shortages within rates of natural loss;

- make offers on streamlining of acceptance, storage and leave of inventory items, improvements of accounting and control of their safety, and also about realization of the above-standard and not used material values;

- bear responsibility:

a) for timeliness and observance of procedure for carrying out inventory count according to the order of the head of business entity;

b) for completeness and accuracy of entering into inventories of the checked fixed assets this about the actual remaining balance, inventory items, money and means in calculations;

c) for correctness of specifying in the inventory of distinctive signs of inventory items (type, grade, brand, the size, sequence number according to the price list, the article, etc.) by which their prices are determined;

d) for correctness and timeliness of registration of materials of inventory count according to established procedure.

Members of inventory-taking groups for entering into inventories of obviously wrong data on the actual remaining balance of values for the purpose of concealment of shortages and wastes or surplus of goods, materials and other values are subject to accountability according to established procedure. Prior to check of the actual availability of property inventory-taking group it is necessary to receive the last at the time of inventory count receipt and issue documents or reports on movement material and money.

The chairman of inventory-taking group vises all receipt and issue documents attached to reports with indication of "before inventory count on... (date)" that shall form accounts department the basis for determination of remaining balance of property by the beginning of inventory count according to accounting data.

Responsible persons give receipts that by the beginning of inventory count all issue and receipt documents on property are handed over in accounts department or the commissions and all values which arrived on their responsibility are transferred credited, and disposed are written off. Also persons having imprests on acquisition or warrants for receipt of property give similar receipts.

2.11. Before carrying out inventory count members of working inventory-taking groups are handed the order, and to chairmen of the commissions - control ice cream (ice cream in all the time of work of inventory-taking group is stored at the commission chairman). In the order terms of the beginning and completion of work on carrying out inventory count are established.

If inventory count of property is carried out within several days, then rooms where material values are kept, when leaving inventory-taking group shall be sealed. During work stoppages of inventory-taking groups (in lunch break, at night, for other reasons) inventories shall be stored in box (case, the safe) indoors where inventory count is carried out.

Orders are registered accounts department in the book of control over the implementation of orders on carrying out inventory count (Appendix No. 2).

2.12. Before starting check of the actual availability of inventory items, the working inventory-taking group shall:

- seal up the utility rooms, cellars and other storage locations of values having separate entrances and exits;

- check serviceability of all weight measuring devices and observance of fixed terms of their branding;

2.13. In case of sudden inventory counts all inventory items are prepared for inventory count in the presence of inventory-taking group, and in other cases - beforehand. They shall be grouped, sorted and laid according to names, grades, the sizes in the certain procedure convenient for calculation of their quantity.

2.14. Inventory count of fixed assets, raw materials, materials, finished goods, goods, money and other values is made on their each location and the responsible person, stored at which these values are.

Check of the actual remaining balance is made with obligatory participation of responsible persons (the cashiers managing farms, trade enterprises, storage rooms, procurement Items, etc.)

Availability of values in case of inventory count is determined by obligatory calculation, weighing, measurement.

On the materials and goods which are stored in the intact packaging of the supplier, the number of these values by way of exception can be determined based on documents in case of obligatory check in nature (on selection) parts of these values. Determination of weight (or amount) bulk products is allowed to be made based on measurements and technical calculations; acts of measurements and calculations are put to the inventory. In case of inventory count of large numbers of weight goods of the sheet of plumbs one of members of working inventory-taking group and the responsible person conduct. At the end of the working day (or upon termination of pereveska) data of these sheets are compared and the verified result is included in the inventory register. Sheets of plumbs are put to the inventory.

2.15. Names of the inventoried values and objects and their quantity are shown in inventories according to the nomenclature and in the units of measure accepted in accounting.

2.16. Inventories are signed by all members of working inventory-taking group and responsible persons. At the end of the inventory responsible persons give the receipt confirming check of values by the commission at their presence on absence to members of the commission of any claims and acceptance of the values listed in the inventory on safe custody.

When checking the actual availability of values in case of change of responsible persons in inventory registers person which accepted values undersigns for their obtaining, and handed over - for their delivery.

On the values which are not belonging to economy, but being in it separate inventories are constituted.

2.17. In case of inventory count the standard forms of primary accounting documentation on inventory count approved by this Standard are applied. The additional details determined proceeding from specifics of assets and liabilities can be given in primary accounting documentation on inventory count.

2.18. Inventory registers can be completed as with use of technical means, information systems and information technologies, and manual method.

The inventory registers constituted manually are filled in accurately and clearly. No blots and erasures are allowed.

On each page of the inventory register the number of sequence numbers of inventory items and general result of number of all values in the natural indicators which are written down on this page regardless of in what units of measure these values are shown is specified in cursive script.

Error correction shall be made in all copies of inventories by deletion of the wrong records and putting down over crossed out the correct records. Corrections shall be stipulated and signed all members of inventory-taking group and responsible persons.

In inventory registers it is not allowed to leave the blank lines. In the last sheets of inventories the blank lines procherkivatsya.

2.19. When responsible persons find after inventory count errors in inventory registers, they shall immediately (before opening of warehouse, the storage room, section, etc.) to declare it to working inventory-taking group. Statements of responsible persons that shortage or surplus were caused by mistake in the name of inventory items are accepted by the omission, the miscalculation, etc. before opening of warehouse, the storage room, section. The working inventory-taking group performs check of the specified facts and in case of their confirmation makes correction of the revealed mistakes in accordance with the established procedure.

2.20. Heads of business entities bear responsibility for the correct and timely carrying out inventory counts of inventory items and money and for ensuring their suddenness. They shall create the conditions providing complete and exact check of the actual availability of values in short time.

The chief accountant together with heads of the relevant divisions and services shall control carefully observance of statutory rules of carrying out inventory count.

2.21. Along with inventory count of inventory items the accounts department of business entity shall check records on all corresponding accounts in comparison to corresponding accounts. For example, on fixed assets (in coordination with the corresponding accounts of capital investments) it is necessary to establish whether all objects accepted in operation are registered in accounting; on inventory items - whether everything the arrived values are credited, and disposed - are written off and reflected in accounting; on work in progress - whether everything costs are written off on the turned-out products, etc.

2.22. Forms of primary accounting documentation on inventory count of assets and liabilities according to appendices No. No. 5 - 18) are applied to registration of inventory count.

2.23. Upon termination of inventory count control inspections of correctness of carrying out inventory count can be carried out. They should be seen with participation of members of inventory-taking groups and responsible persons surely to opening of warehouse, the storage room, section, etc. where inventory count was carried out. Results of control checks of correctness of carrying out inventory counts are drawn up by the act (Appendix No. 3) and are registered in the book of accounting of control checks of correctness of carrying out inventory count (Appendix No. 4).

3. Rules of carrying out inventory counts of separate asset types and obligations

Inventory count of fixed assets

3.24. Prior to inventory count it is necessary to check:

- availability and condition of inventory cards, stock record books or inventories;

- availability and condition of technical data sheets or other technical documentation;

- availability of documents on the fixed assets leased or accepted by business entity for storage and in temporary use. In the absence of documents it is necessary to provide their obtaining or registration.

In case of detection of discrepancies and inaccuracies in bookkeeping registers or technical documentation the corresponding corrections and amendments shall be made to them.

3.25. In case of inventory count of fixed assets the commission without fail examines objects in nature and enters their full name, appointment, accession numbers and the main technical or operational performances in inventory registers.

In case of identification of the objects which are not accepted on accounting and also objects on which in accounting registers are absent or the wrong data characterizing them are specified, the commission shall include in the inventory register missing or correct data and technical performances on these objects, for example: on to zdaniyamukazat their appointment, the main materials of which they are constructed I will eat around (on external or internal measurement), the area (total usable space), number of floors (without cellars, semi-basements, etc.), year of construction, etc.; on channels - the extent, depth and width (on bottom and surface), artificial constructions, materials of fixture of bottom and slopes; on bridges - the location, sort of materials and the main sizes; on roads - road type (the highway, pro-thinned out), the extent, materials of covering and width of cloth, etc.

Assessment of the unaccounted objects revealed by inventory count shall be made on current value, and depreciation shall be established on the valid technical condition of objects with execution of data on assessment and depreciation the relevant acts.

The inventory-taking group shall reveal when and according to whose order the unaccounted objects revealed by inventory count where costs for their construction are written off are built and to reflect it in the protocol.

Fixed assets are entered in inventories according to names according to basic purpose of object. If object underwent to recovery, reconstruction, expansion or re-equipment and thereof its basic purpose changed, then it is included in the schedule under the name corresponding to new appointment.

If by the commission it is determined that the performed works of capital nature (superstructure of floors, extension of new rooms, etc.) or partial liquidation of structures and constructions (demolition of separate structural elements) are not reflected in financial accounting, it shall determine the amount of increase or decrease in original cost of object by the relevant documents and to provide data on the made changes in the inventory.

At the same time the commission shall identify persons, guilty of it, and the reasons for which constructive changes of these or those objects did not receive reflection in accounting registers.

3.26. Machines, the equipment and power plants are entered in inventory registers individually with indication of accession number, manufacturing plant, year of release, appointment, capacity, etc.

The same pieces of economic stock, tools, machines, etc. identical cost which arrived at the same time to one shop or department and considered on standard, inventory card of group accounting are given in inventory registers according to names with indication of quantity of these objects.

Numbers assigned to inventory fixed asset objects, as a rule, shall not change. Replacement of numbers can be made when objects mistakenly appear not in that group of fixed assets to which they shall be carried on the technical production to appointment, and also in cases of establishment of the wrong numbering.

3.27. Fixed asset objects which at the time of inventory count will be out of business entity (the ocean and river crafts which are in long hauls, railway rolling stock, cars; the machines sent to capital repairs and the equipment, etc.), shall be proinventarizirovana the permanent or working commission, until their temporary disposal from economy.

3.28. The fixed assets unsuitable to operation and not subject to recovery, do not join in the inventory register. On these objects the inventory-taking group constitutes the separate inventory with indication of time of commissioning and the reasons which resulted these objects in unfitness (spoil, wear-out, etc.). Write-off of such objects is made in generally established procedure.

3.29. Along with inventory count of own also leased fixed assets and being on responsible storage are checked.

On the specified objects the separate inventory in which the reference to the documents confirming acceptance of these objects on safe custody or in lease is given is constituted.

Inventory count of intangible assets

3.30. In case of inventory count of intangible assets it is necessary to check; availability of the documents confirming the rights of the organization to their use; correctness and timeliness of reflection of intangible assets in balance.

Inventory count of financial investments

3.31. In case of inventory count of financial investments actual costs in securities and the authorized capital of other organizations, and also loans granted other organizations are checked.

3.32. When checking the actual availability of securities it is established:

correctness of execution of securities;

safety of securities (by comparison of the actual availability to accounting data);

timeliness and completeness of reflection in financial accounting of the gained income on securities.

3.33. In case of storage of securities their inventory count is carried out to the organizations along with inventory count of cash on hand.

3.34. Inventory count of securities is carried out on certain issuers with indication of in the act the name, series, numbers, nominal and actual cost, repayment periods and total amount.

Details of each security are compared with data of inventories (registers, books) which are stored in accounts department of business entity.

3.35. Inventory count of the securities checked in the special organizations (depositary bank - specialized securities holding, etc.) consists in reconciliation of remaining balance of the amounts which are registered on the corresponding accounts of financial accounting of business entity with data of statements of these special organizations.

3.36. Financial investments in the authorized capital of other organizations, and also loans granted other business entities in case of inventory count shall be supported by the documents.

Inventory count of inventory items

3.37. Inventory count of inventory items shall be made, as a rule, according to the procedure of arrangement of values in this room. It is impossible to allow during inventory count of chaotic transition just seeing inventory items to another.

In case of storage of inventory items in the different isolated rooms at one responsible person inventory count is carried out consistently on storage locations. After check of values the entrance to the room oplombirovyvatsya and the commission passes for work into the following room.

3.38. Inventory items are entered in inventory registers according to each separate name with indication of nomenclature number, type, group, the article, grade and quantity.

3.39. The chairman of working inventory-taking group or according to its order members of the commission in the presence of the chief storekeeper (storage room) and other responsible persons check the actual availability of inventory items by their obligatory recalculation, preponderating or peremerivaniye. It is strictly forbidden to include in the schedule data on remaining balance of values according to responsible persons or according to accounting without check of their actual availability.

3.40. The inventory items arriving during inventory count are accepted by responsible persons in the presence of members of inventory-taking group and are credited according to the register or the commodity report after inventory count. These inventory items are entered in the separate inventory under the name "The Inventory Items Which Arrived during Inventory Count". In the inventory it is specified when from whom they arrived, date and number of the receipt document, the name, quantity, the price and the amount. At the same time on the receipt document signed by the chairman of inventory-taking group the mark "after inventory count" becomes with reference to date of the inventory in which these values are written down.

3.41. In case of long carrying out inventory count in exceptional cases and only with the written permission of the head and the chief accountant of business entity in the course of inventory count inventory items can be released by responsible persons in the presence of members of inventory-taking group.

These values are entered in the separate inventory register under the name "The Inventory Items Released during Inventory Count". This inventory shall be drawn up by analogy with documents on the arrived inventory items during inventory count. In issue documents the mark signed by the chairman of inventory-taking group becomes.

3.42. The inventory items belonging to other business entities and being on safe custody are inventoried along with own inventory items. On these values the separate inventory register in which reference to the relevant documents confirming acceptance of these values on safe custody is made is constituted.

3.43. Inventory count of the inventory items which are en route, shipped, are not paid in time by buyers, being in warehouses of other business entities consists in careful check of justification of the amounts which are registered on the corresponding accounts.

On accounts of these inventory items (in transit, the goods shipped, etc.) only the amounts supported properly by the processed documents can be left: on being en route - accounts payment requests of suppliers or other their replacing documents, on shipped - copies of the invoices shown by buyers and copies of payment requests, and according to the documents delayed by payment - with obligatory confirmation of bank by organization about finding of payment requests in card-indexes; on being in warehouses of other organizations - the trust receipts renewed for the date close to date of inventory count; on being in warehouses of odnogorodny suppliers - the trust receipts renewed on date of inventory count.

Previously the reconciliation of these accounts with other corresponding accounts shall be made.

In case of long delay in payment by buyers or customers of the goods realized by it, products (works, services) the reasons of this delay which are fixed in the protocol of inventory-taking group become clear.

In case of establishment of the facts of not receipt of the arrived inventory items explanations of persons who received them shall be requested, and in case of abuse materials shall be transferred to investigating bodies.

3.44. Inventory registers (acts) are constituted separately on the inventory items which are en route, shipped, are not paid in time by buyers and being in warehouses of other business entities.

In inventories on the inventory items which are en route on each separate sending the following data are carried out: the name (according to the document), quantity and cost (according to data of accounting), shipping date, and also the list and document numbers based on which these values are considered on the corresponding accounts. At the same time on the freights which did not arrive at the scheduled time and registered in accounting as materials and goods in transit it is necessary to check what measures are taken to their search.

3.45. The name of the buyer, the name of inventory items, shipping date, date of the statement of the invoice, invoice number and invoice amount are provided in inventories on the inventory items shipped and not paid in time by buyers on each separate shipment.

3.46. The inventory items which are kept in warehouses of other business entities are entered in inventories based on the documents confirming delivery of these values on safe custody. In inventories on these values their name, quantity, grade, actual cost (according to accounting), acceptance date of freight are specified storage, the storage location, numbers and document dates.

When obtaining from business entities on whose safe custody these values are of copies of inventory registers the commission compares the actual availability of values (according to copies of inventory registers) with the quantity established according to documents.

3.47. In inventories the name of processing enterprise, the name of values, quantity, actual cost according to accounting, date of transfer of values to conversion, numbers and document dates is specified the inventory items which are in conversion on other business entities.

3.48. The stock and economic accessories which are in operation are inventoried in the place of their stay and persons on whose safe custody they are.

Inventory count is carried out by survey of each asset. The stock and economic accessories are entered in inventory registers according to names according to the nomenclature accepted in financial accounting.

In case of the inventory count of stock and economic accessories issued in individual use to workers creation of group inventory registers with indication of in them persons, responsible for these assets, on whom personal cards, with their receipt in the inventory are open is allowed.

In inventories the cost of stock and economic accessories is specified.

The objects of overalls and table linen sent to washing and repair shall register in the inventory register based on sheets delivery notes or receipts of public service establishments.

On the stock and economic accessories which became useless and not written off, the working inventory-taking group draws up statements with indication of time of operation, the reasons of worthlessness, possibility of use of these objects for the economic purposes.

3.49. The container is entered in inventories by types, purpose and high-quality condition (new, being in the use, requiring repair, etc.).

Before check the empties shall be picked up for types:

- wooden (box, barrels);

- cardboard;

- metal (flasks, drums);

- textile (sacks).

On the container which became useless the working inventory-taking group draws up the statement with indication of the reasons and persons responsible for container.

Inventory count of work in progress and deferred expenses

3.50. Inventory count of work in progress aims to determine amounts and production cost it according to the procedure established by Regulations on structure of costs on production and sales of products (works, services) and about procedure for forming of financial results, approved by the resolution of the Cabinet of Ministers of February 5, 1999 No. 54 and industry instructions developed on its basis.

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