ACCOUNTING AND TAX TREATMENTS REGARDING THE INVENTORY OF ASSETS, EQUITY, AND LIABILITIES

Angela Popovici () and Lidia CauÈ™ ()
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Angela Popovici: Academy of Studies Economic from Moldova, Republic of Moldova
Lidia CauÈ™: Academy of Studies Economic from Moldova, Republic of Moldova

European Journal of Accounting, Finance & Business, 2023, vol. 11, issue 1, 124-131

Abstract: Inventory is a process through which the factual, quantitative, or only quantitative value of elements such as assets, equity, and liabilities is determined, with the purpose of comparing them to the recorded situation in accounting. The aim of the research is to analyze and clarify the types of inventory, the specific procedures related to the preparation of inventory, the actual inventory, and the regularization of differences found during the inventory of assets, equity, and liabilities of entities, as well as their tax consequences. As a result of the research, for the proper application of the rules for accounting the results of inventory, it is recommended to: comply with all inventory stages in accordance with legislative provisions; comply with specific work and operations related to content, procedures to be followed, and documents to be prepared in the case of inventorying assets, equity, and liabilities; establish and correctly account for the results of the annual inventory in order to obtain accurate data that will be presented in the financial position and financial performance of the entity; study and correctly apply the tax consequences related to shortages and surpluses of goods, as well as the recovery of material damages according to the provisions of the Tax Code of the Republic of Moldova.

Date: 2023
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