Chapter II accounting accounts and current iabilities

In the course of practical training at the enterprise involved in conducting audits as an assistant auditor of the following companies: LLP "MGS", LLP "Techno-lab”.

In carrying out audits in organizations were given the task to examine the treatment of petty cash, check on the reliability attached to expense reports, and documents the legality of paying for them (Channel links cannot be found.: Advance Report, 71 turnovers in a row for the 4th quarter). During the audit of the site revealed the error listed below: -Expense reports are not approved by the head No-service task -Failure to provide a report on the expenditure of funds Wrong-charge of daily business trip abroad Is not accompanied by supporting documents -Date of the supporting documents more than the date of the expense report

Order-no head of the list of persons who are allowed to cash funds to be accounted for At the audited company LLP "Instal Trade” when checking Payroll reports in advance to approve a visa is not the head of these costs, ie there is no signature in the "reasonably incurred costs to confirm." CEO is not confirmed the feasibility expenditures for expense reports for April, May and June 2009.Amounts incurred and recognized upfront costs included in cost of sales may not be recognized by the tax authorities without proper documents for the calculation of the profits from sales. As a result, these costs may be included in the total taxable income of the employee and the appropriate basis for calculating the unified social tax, and are excluded in calculating taxable income.

In addition, this company identified cases of transmission received on account of cash by one employee to another, and the late submission of expense reports.

In accounting, business corporation "sign" travel expenses in excess of the limits of payment for hire of premises reflect the accounting entry on the debit side 84 "Retained earnings" subs 2 "Retained earnings" and the credit of 71 Payroll." In this case, the use of retained earnings as a source of excessive expense coverage is unlawful, as in accounting, they should be included in the current period and reflects the costs of the accounting entries to debit 26 "economic costs" and credit of the 71, "Payroll".

When calculating the taxable income according to claim 1 pp.12 st.264 Tax Code, the costs of hiring premises are accepted on a business trip in full, and per diem expenses only be accepted within the limits approved by the Government of the Kazakhstan - in the amount of 1612 tenge  for each day of a business trip in the Kazakhstan.

When checking the Payroll Company "BARS" established that the direction of the employees in the organization of trips abroad were issued to fund accountable entity funds in national currency – Kazakhstan tenge, which is a violation.

At this stage of the production practices considered and reviewed the primary accounting system and accounting records of payments to suppliers and contractors (invoices received and invoices, log books and invoices received invoices, book sales, book purchases, journal-order number 6) were carried out audits Procedure: validation (completeness and accuracy) posting the facts of inventory, adoption of accounting work, services, checking the speed of registration upon receipt of raw materials, services, checking the legality of the primary accounting records, preparation of operation is estimated to suppliers and contractors, checking the completeness and accuracy of the registration document in the accounting records.

In the course of these procedures were identified instances of lack of invoices, statements of work performed on the services received and / or work on the basis of which made the log entry warrant number 6.

As a result, a spot check of invoices received from suppliers and contractors, established unreasonable application of tax deductions for the value added tax (VAT) on the basis of invoices for services outside work (demolition, plant and equipment) and invoices are not furnished in accordance with the requirements of Art. 169 of the Tax Code.

Primary Records

The reports are intended for information containing the results of accounting or detailed information, selected according to various criteria. Standard reports are used for general analysis of the results of accounting and flow of funds accounts, as well as to analyze the results at the level of accounts, sub-accounts, currencies, analyst’s objects by different periods.

Specific reports are focused on the reflection of information on specific sections of the records. Often they are "under a" specific organizations when necessary to obtain specific information or a sample of a special kind of printed form.

Regulated Records allows you to create data for tax inspections and other authorities. Their composition and content is determined by various government agencies. The package includes a set of rules methodically verified the formation of regulated records for the cost-accounting enterprises of Russia. At the same time, regulated reports can be created by users and programs to produce a specific sector and regional reports.

Inventory cards, card inventory of materials. Cards opened for each item (part number) of products in accounting and a receipt of their registration papers are transferred to the warehouse. In the cards shall include the name, stock number, grade, size and other characteristics of products, discount price, storage space, the norm of the reserve. For the convenience of card stock are placed in a special box - file cabinet, where are the groups of products, and within groups - on the part number in their ascending order. Cards are separated one group from another comma, which specify a number and the product groups. Entries in the cards are made of material - responsible persons on the basis of the documents will be in stock and retirement from the warehouse of finished products upon completion of transactions. At the end of the day in the cards, where it was noted the movement of products, shows the final residue. At the end of the reporting period, all the cards (regardless of whether it was or was not the movement of finished goods on a particular product name) shall bear the final balance. Periodically, Warehouse Manager or Storekeeper sets of card balances exceeding the actual rules of the stock, and if there is movement of goods without reference signal, which passed in the sales department or marketing to take measures to reduce the residual products. Cards may be filled by technical means, mounted on the stock. The data on income and expenditure are recorded in inventory cards in conjunction with an extract of primary documents. In enterprises with a small range of products instead of the cards in stock of finished goods is a book keeping. In warehouses, equipped with computer technology, instead of cards and book accounting is made using a computer list of operational presence and movement of finished goods for its names and forms. This list is made for the accounting, sales, marketing, and other interested users. At a number of finished products are packed in the shops and the warehouse, it comes in boxes, which indicate its name and the number of items in one box. In this form (without unpacking boxes) products from the warehouse is transferred to buyers. Storekeeper at reception and leave product does not check the contents of the boxes and, therefore, is not responsible for the amount of product in them, and for the number of accepted cases and their integrity. In such cases, inventory control movement of finished products should be conducted not only in physical terms, but also by the number of boxes of labels. DEPARTMENTS

The method of analytical accounting of finished products through varietal turnover balance sheet is as follows. In stock, as well as a parallel method of accounting, are carried out cards of quantity and Accounting - Grade negotiable bill of the same form as that of a parallel method, in which the data are entered directly from the incoming and outgoing primary documents. In this case the primary documents are arranged by part number or product names. Usually on the back of the last paper receipts for each part number (name) for the reporting month, the number and amount of product recorded, on the back of the last paper on the flow rate - the number and amount of the released product. This method involves the use of single-line documents. If the applied multi-documents, the savings are used to separate statements, receipts and expenditures, which accumulates the data in the context of nomenclature issues. As a cumulative statements on the arrival of a statement can be used taking into account production.

Accumulated over the last month of the primary documents or statements by using the accumulative data is transferred to the back varietal statement. In some cases, reverse profiled sheet is compiled on the basis of a report of material - a responsible person who is filled according to the card (book) inventory. The report of the cards for each part number carried on the balance totals, receipts and expenditures in real terms. In statements made to taxing by part number and calculation of the amounts for groups and for all the products in general.

Quantitative data on individual stock number of products profiled the back sheet are compared with corresponding data card inventory, and the totals for the whole sheet compared with the corresponding data (balance at the beginning and end of the month, income and expenditure), a synthetic account of the account 43 "Finished products".

Trial balance (operational - accounting) method of accounting involves preparation of the finished product trial balance accounting.

The statement of account balances (trial balance) balances are reflected on the first day of each reporting period. Statement of accounts opened in each warehouse and maintained by groups of nomenclature and numbers (names) of the finished product. For each part number (name) indicates the unit of measurement and accounting cost. At the end of the reporting period, a statement sent to the warehouse. Warehouse (the storekeeper) of card (book) inventory control carries a sheet for each part number balance at the end of the reporting period in real terms. Statements sent from the warehouses to the accounting department, where taxes by balances are calculated on the amount of teams, warehouses and enterprise as a whole.

Cash book and cash transactions in the enterprise Register incoming and outgoing cash orders is in the log incoming and outgoing cash instruments (Form CO-3), designed to monitor the proper use of funds.

The movement of cash is taken into account in the cash book (FormCS-4). The organization must keep a cash book, laced with numbered sheets sealed and notarized signatures of the director and chief accountant.

Cash book is the cashier. Each leaf cash book consists of 2 identical parts, one of which is filled as the first instance, and another - through the carbon paper - as the second. The second copy is cut off and the cashier's report, which at the end of the day filed incoming and outgoing cash orders, together with supporting documents. The report is subject to verification cashier chief accountant if the cash book is being automated (computer), it is printed on the end of the month, and year-end is stitched, sealed and certified by the appropriate signatures.

Table 1 Filling the Cash Book

Earl	Contents
document number	Serial number of receipts or supply cash order
From whom received or whom given	Name of person or legal entity deposits its name (get) money, and a summary of operations
Corresponding account number, sub-	Account number, which, in correspondence with a score of 50 "Cash"reflects the movement of money
receipts	The amount received by the credit slip
expense	The amount issued for the disbursement vouchers
Total for the day	Total amount of credit and debit orders
Balance at the end of the day	Determined by the formula: Balance at beginning of the day + coming for the day - consumption per day

Forms of financial statements

The financial statements (accounts) - a set of reporting forms, compiled on the basis of accounting in order to present the user generalized information about the financial position and activities of the enterprise, as well as changes in its financial position during the reporting period in the prescribed form to make them user-specific business solutions .

Also features a source of information does financial reporting oversight role, which is to monitor, both external and internal controls over the correctness of the reflection of financial and business enterprises. Internal users are directly accountant, management personnel and other persons who use the reports in their work. External users are the entities that use the information published for information about the company. These are the shareholders, investment companies, banks, customers and partners of the firm.

To date, there are three types of reports: operational, statistical and accounting. The term is similar to financial accounting. Operative, in other words, you can call every day. The financial statements contain information about sales, inventories of finished goods and goods on the state of economic resources and sources of their formation, the financial results of the enterprise.

Financial statements are required to prepare and serve enterprises, associations and organizations are legal entities (excluding banks), and the balance allocated to the separate branches, representative offices, branches and other separate subdivisions of enterprises and organizations (other than banks and public institutions), irrespective of the activities and forms of ownership. The reporting year for all businesses is set from 1 January to 31 December inclusive. To carry on the financial statements of functions, it must meet the following requirements: • ensure the reality and accuracy of the data provided by documenting all of the records, conduct inventories, sticking to the rules of evaluation of balance sheet items, the distribution of profits and losses for the respective periods; • ensure timely receipt of data, based on the timing of regulatory reporting data for the comparison of the operational management of economic and financial activities of organizations and enterprises. The main terms of the correctness of the financial statements are as follows: • completeness of the reflection of all business transactions during the reporting period; • compliance with these synthetic and analytical accounting; • compliance with performance data FD of synthetic and analytical accounting. If the financial statements represent the final stage of compilation of financial information, the analyst's main task is to present a reality that is embodied in the study report. For this purpose, it should logically be able to restore business operations, summarized in the report, the ability to repeat the work of an accountant in the reverse order.

SECTION 3. ACCOUNTING AND AUDIT OF CASH.

The next task in the practical training was to study the order of cash transactions, their documentation and records, and checked their compliance with the order, approved the Regulations of the National bank of Kazakhstan on 04.10.93 N18 «On approval of the order of cash transactions in the Republic of Kazakhstan."

Importance for economic and financial activity of organizations is the timeliness of cash payments, well-established credit records and payment transactions.

In the process of organizing economic activity is constantly engaged in payments to suppliers for the acquisition of their fixed assets, raw materials and other commodities and materials and services rendered to customers for work performed and services rendered to the public for the provision of utilities and other services to credit institutions on loans and other financial transactions with the budget on various types of payments to other corporations and individuals for various business transactions.

Cash payments are made non-cash payments and cash. Cashless payments in a developed market economy performed using money orders and other payment documents by transfers on settlement and current accounts in banks. By bank Transfer Company calculated with other organizations, the budget, as well as some individuals who pay a fee for an apartment bank transfers. The use of cashless payment reduces the need for cash, reduces the cost of money circulation, and contributes to the concentration of banks available funds organizations that provide them more reliable safety.

Cash in hand the organization are in the form of cash and cash instruments in bank accounts, checkbooks. The most important task of accounting - their multiplication, proper use, control over safety. To store the cash used fireproof safe with two keys to it. The first key is kept by the cashier, the second in a vault in the bank to the right of access as a chief accountant and director.