ORDER OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF MOLDOVA

of May 29, 2012 No. 60

About approval of the Regulations on procedure for carrying out inventory count

In pursuance of provisions of Art. 24 of the h. (2) the Law on financial accounting No. 113-XVI of April 27, 2007, with subsequent changes and amendments (The official monitor of the Republic of Moldova, 2007 No. 90-93, of the Art. 399), I ORDER:

1. Approve Regulations on procedure for carrying out inventory count it (is applied).

Approved by the Order of the Ministry of Finance of the Republic of Moldova of May 29, 2012 No. 60

Regulations on procedure for carrying out inventory count

I. Purpose

1. The purpose of this provision is establishment of rules of carrying out inventory count of elements of asset and obligations, recognition and reflection of results of inventory count, and also creation of the forms used when carrying out inventory count.

II. Coverage

2. This Provision extends to all legal entities and physical persons performing business activity irrespective of type of property and form of business, bodies/organization, including the budget bodies / organizations; the permanent missions and branches of nonresident subjects, physical persons performing business activity except for owners of entrepreneurial patents, the physical persons performing professional activity in the sphere of justice and the bureaus founded by them, and also individual offices of family doctors which fall under operation of the Law on financial accounting No. 113/2007 or the Law on financial accounting and the financial reporting No. 287/2017 and shall carry out joint inventory of elements of asset and obligations.

3. The subject carries out inventory count:

1) at the beginning of activities which main objective is establishment and assessment of elements of asset and the obligations constituting fee in the authorized capital;

2) at least once for the accounting period, as a rule, at the end of the accounting period. Subjects can carry out inventory count and before the end of the accounting period on condition of the correct assessment and reflection in the financial statement of results of inventory count;

3) in case of reorganization or the termination of activities of the subject;

4) in case of suspension of operations;

5) in case of change or replacement of the manager or the responsible person of division (department, warehouse) in day of reception-transmission of values and/or upon the demand of one or several responsible persons of the same division (department, warehouse);

6) in case of establishment of the facts of thefts, plunders, wastes, abuses, and also spoil of values - it is direct at the time of their identification;

7) in case of fire, natural disasters or other extraordinary events (floods, earthquakes, etc.);

8) upon the demand of authorized bodies, according to the legislation;

9) in case of existence of information, data (signals) of shortages or surplus which can be established only by carrying out inventory count;

10) in other cases provided by the current legislation or according to the decision of the head of the subject.

4. All types of values of the subject which include are subject to joint inventory:

1) the values belonging to the subject and being in the territory of this subject (intangible assets and fixed assets, inventory stocks, securities, money and cash documents, standard forms of source documents of the strict accounting, etc.);

2) the values belonging to the subject, but being out of its territory (the intangible assets and fixed assets transferred to operational leasing (lease, property hiring), fixed assets transferred to the repair, values transferred to other subjects to storage and/or conversion to the commission, etc.);

3) the values which are not belonging to the subject, but being on its safe custody (the intangible assets and fixed assets received in operational leasing (lease, property hiring) received for installation, the values accepted on safe custody, conversion on the commission, etc.);

4) values unregistered (unaccounted) for various reasons.

5. In case of receipt of claims from buyers about shortage of tovarnomaterialny inventories, selective or continuous inventory of tovarnomaterialny inventories on which complaints were received is carried out.

6. Special rules of carrying out inventory count in the corresponding industries of economy are developed by the central industry bodies of public management, bodies of local public authority, according to this Provision and other provisions approved by the Government.

III. Determinations

7. In this Provision the used concepts mean:

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