{"id":4052,"date":"2019-11-14T10:38:19","date_gmt":"2019-11-14T09:38:19","guid":{"rendered":"https:\/\/dvs-europe.eu\/2019\/11\/14\/2019-inventory\/"},"modified":"2019-11-14T10:38:19","modified_gmt":"2019-11-14T09:38:19","slug":"2019-inventory","status":"publish","type":"post","link":"https:\/\/dvs-europe.eu\/en\/2019\/11\/14\/2019-inventory\/","title":{"rendered":"2019 Inventory"},"content":{"rendered":"

Regulatory obligation:<\/strong><\/p>\n

According to Law 82\/1991 and OMF 2634\/2015, companies are obliged to conduct a general inventory of assets at least once a year, usually at the end of the fiscal year (Dec. 31, 2019). They may be assisted in this activity by their consultants. <\/p>\n

Purpose:<\/strong><\/p>\n

The purpose of the inventory is:
\n– to establish the true situation of all items of the nature of assets, liabilities and equity;
\n– to establish the true situation of assets and valuables held by any title, belonging to other natural or legal persons;
\n– for the preparation of the annual financial statements, so as to provide a true picture of the financial, asset and economic position of the company;<\/p>\n

Documents related to inventory:<\/strong><\/p>\n

The invetary procedure involves drafting and signing the following specific documents (in addition to confirmations of external balances for customers and suppliers):<\/p>\n

1- decision of the Governing Body to inventory the company’s assets;<\/strong><\/p>\n

2- statements from individual managers regarding the assets held under management;<\/strong><\/p>\n

3- list of material findings under management as a result of the inventory procedure;<\/strong><\/p>\n

4- Inventory report prepared by the Commission;<\/strong><\/p>\n

5- minutes of verification of cash findings;<\/strong><\/p>\n

6- final minutes of closing and enhancement of inventory findings.<\/strong><\/p>\n

Procedure at a glance:<\/strong><\/p>\n

The inventory of the company’s assets is carried out as follows:<\/p>\n

– The Administrative Body appoints, by written decision, the inventory commission<\/strong>, which must consist of at least two persons, but can be executed only by the administrator, and authorizes the initiation of the inventory procedure (document 1 of the list);
\n– members of the inventory commission cannot be individuals involved in the management of warehouses subject to inventory, as they are incompatible;
\n– the Administrative Body approves the written procedures, adapted to the specific activity, which are forwarded to the inventory commissions;<\/p>\n

Prior to the start of the inventory operation, each manager must issue a written statement regarding the resources managed (Document 2 of the list).<\/p>\n

All heritage assets of the company that are inventoried are entered into the inventory lists (List Document 3), which must be signed by members of the inventory committee and managers.<\/p>\n

Terms and deadlines:<\/strong><\/p>\n

The deadline for conducting the inventory is Dec. 31, 2019, but may be extended until Jan. 31, 2020. Inventory documents must be mandatorily filed at the registered office of the company and forwarded to the accounting department\/advisor as they are preparatory to the preparation of the 2019 Financial Statements. Therefore, in the absence of these documents, it will not be possible to prepare the financial statements, and for this reason we will not take responsibility for
\n<\/span><\/p>\n

Penalties for omission:<\/strong><\/p>\n

Failure to do so constitutes a violation and is punishable by a fine of 400 lei up to 5,000 lei (Art. 41 – 42 of Accounting Law No. 82\/1991)<\/strong><\/p>\n

Conclusions:<\/strong><\/p>\n

The results of the inventory are recorded in an inventory results report (final minutes of inventory enhancement carried out). The Administrative Body is responsible for the proper organization of the inventory. <\/p>\n","protected":false},"excerpt":{"rendered":"

Regulatory obligation:<\/p>\n

According to Law 82\/1991 and OMF 2634\/2015, companies are obliged to conduct a general inventory of assets at least once a year, usually at the end of the fiscal year (Dec. 31, 2019). They may be assisted in this activity by their consultants. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":["post-4052","post","type-post","status-publish","format-standard","hentry","category-obligations"],"yoast_head":"\n2019 Inventory<\/title>\n<meta name=\"description\" content=\"Inventory 2019. According to Law 82\/1991 and OMF 2634\/2015, commercial companies are obliged to conduct a general inventory of assets at least once a year, usually at the end of the fiscal year (Dec. 31, 2019). 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