Accounting, analysis and control of production stocks of LLC “TERMOPLAST”
Students Name: Kosheliuk Kristina Volodymyrivna
Qualification Level: magister
Speciality: Accounting and Taxation
Institute: Institute of Economics and Management
Mode of Study: full
Academic Year: 2020-2021 н.р.
Language of Defence: ukrainian
Abstract: Kosheliuk K.V., Borshchuk I .V. (supervisor). Accounting, analysis and control of production stocks of LLC «TERMOPLAST». Master’s thesis. – Lviv Polytechnic National University, Lviv, 2020. Extended abstract. Inventories are a very important element of the enterprise. Their rational use is of great economic importance. Provision of inventories is a necessary condition for economic activity, and their effective use is a prerequisite for profitable operation of the enterprise [1]. The peculiarity of inventories is that they belong to current assets. The purpose of control of operations with inventories is to establish the reliability of primary data, their availability and movement of inventories; completeness and timeliness of data display in primary documents and accounting registers; the reliability of the reflection of stocks in the reporting of the entity [2]. Achieving efficient use of inventories is possible with the proper organization of their accounting and internal control over their use and movement [3]. In work features of accounting of production stocks, methods and directions of control of production stocks are considered. The characteristic and economic estimation of economic activity are given of LLC «TERMOPLAST». The analysis of a condition and use of production stocks is carried out of LLC «TERMOPLAST». The main primary documents on the availability and movement of production stocks are considered at LLC «TERMOPLAST». Recommendations on optimization and control of production stocks are given and the information on production stocks of the enterprise in the reporting system is generalized. The recommended tasks of optimization of the system of accounting and control of production stocks for the limited liability company «TERMOPLAST» will be an important condition for the effective implementation of the production process [4]. At the Company, inventories are an extremely labor-intensive process. This is due to the registration of a large number of primary documents at different stages of the movement of inventories and the variety of inventories themselves [5]. It is necessary to conduct thorough checks on the timeliness of the inventory and spot checks at the surveyed Company. The inventory process should be considered through a sequence of stages of its implementation [6]. Study object – limited liability company «TERMOPLAST». Scope of research – methods of accounting and organization of analysis of the audit of inventories. Goal of research: study and use of methodological aspects of accounting, analysis and audit of inventories. According to the results of the study, inventories occupy a special place in the property and a predominant position in the cost structure of various areas of the Company. When releasing inventories for production, sale or write-off of their valuation, the investigated Company uses the weighted average cost method. LLC «TERMOPLAST» has an illiquid balance sheet, its financial condition is unstable, but all this is due to the expansion of the foreign economic sphere of the Company. Each business transaction on receipt or disposal of stocks must be documented in the appropriate document of this form. The main part of operations on the account of production stocks arrives on LLC «TERMOPLAST» from suppliers, receipt occurs on the basis of the contract between the supplier and the buyer. If LLC «TERMOPLAST» implements the listed areas of improvement of inventory accounting given in this work, it will significantly increase the efficiency of the Company, will establish labor-intensive accounting and control of inventories and make it more effective, which will affect the gradual growth of profits Keywords: accounting; control; production stocks; movement; availability; audit; inventory; optimization; improvement References. 1. Ministry of Finance of Ukraine (1999), «Accounting Standard 9 Сurrent assets», available at: https://zakon.rada.gov.ua/laws/show/z0751-99 (Accessed 15 Oct 2019). 2. Boytsova, M. Makhanko, O. and Klyzhenko, YA. (2014), Use pro oblik zapasiv [All about stock records], Faktor, Kharkiv, Ukraine. 3. Maksy`menko, I. Ya. (2016), «Features of inventory accounting in the trading enterprise management system», Economics and finance, vol. 9, pp. 228-230, available at: http://conferencii.com/files/archive/2016-09.pdf (Accessed 15 Oct 2019). 4. Svitlychna, V. Yu. (2010), «Actual problems of theorganization and maintenance of inventory of inventoriesby enterprises of Ukraine», available at: http://www.economy-confer.com.ua/full_article/716 (дата звернення: 15.10.2019) 5. Tkachenko, N.M. (2011), Bukhhalterskyy finansovyy oblik, opodatkuvannya i zvitnist [Accounting Financial Accounting, Taxation and Reporting], Alerta, Kyiv, Ukraine. 6. Shum, M. A. and Gul`ko, K.S. (2017), «Features of accounting and analysis of inventories at Ukrainian enterprises in modern conditions», Naukovy`j visny`k Uzhgorods`kogo nacional`nogo universy`tetu, vol. 4, pp.166- 169.