The accounting treatment before the approval of inventory shortage is,
Debit: profit and loss of pending property,
Loan: subjects such as inventory goods,
Taxes payable-VAT payable (input tax transferred out).
After the approval of inventory shortage, the accounting treatment is,
Debit: other receivables,
Non-operating expenses and other subjects,
Loan: profit and loss of pending property.
Inventory deficit:
Inventory surplus refers to the inventory materials, low-value consumables, in-process products and finished products that have not been recorded or reflected by the unit. According to the inventory table, economic appraisal report or certificate, other materials (the custodian's explanation of the inventory surplus, the basis for determining the value, etc.).
When an enterprise conducts inventory check, it shall prepare an "inventory report" and use it as the original voucher for inventory check. After checking the actual amount recorded in the inventory with the book record of the inventory, if the book inventory is less than the actual inventory, it is the inventory surplus; On the contrary, it is the inventory loss. Inventory gains and losses should be recorded in the subject of "Property Loss and Overflow to be Processed" before being approved for processing, and the reasons should be found out for processing.
Relevant regulations:
Article 10 of the Provisional Regulations of the People's Republic of China on Value-added Tax stipulates that the input tax on goods with abnormal losses shall not be deducted from the output tax. However, in the daily tax inspection, we often encounter the problem that the input tax has not been transferred out due to the inventory loss of enterprises or the calculation is inaccurate although the input tax has been transferred out. This requires everyone to strictly implement the work rules and legal procedures of tax inspection in the inspection process, and choose the correct inspection methods and reasonable inspection steps to ensure the accuracy of the transferred amount of input tax.
The difference between inventory surplus and fixed assets surplus;
Article 1 1 of Accounting Standards for Business Enterprises No.28-Changes in Accounting Policies and Accounting Estimates mentions that "pre-errors usually include calculation errors, errors in applying accounting policies, negligence or misinterpretation of facts, the impact of fraud, and inventory and fixed assets."
Inventory surplus of inventory and fixed assets belong to previous errors, but the inventory surplus is usually small, which will not affect the users of financial statements to judge the financial status, operating results and cash flow of the enterprise in previous years. Therefore, inventory surplus is accounted for through the subject of "loss and overflow of property to be handled", and the "management expenses" are reduced after approval according to management authority, and the statements of previous years are not adjusted.
Fixed assets are tangible assets with high unit value and long service life. Therefore, for enterprises with standardized management, it is rare and abnormal to find fixed assets with surplus in inventory, and the surplus of fixed assets will affect the users of financial statements to judge the financial status, operating results and cash flow of enterprises in previous years. Therefore, the inventory surplus of fixed assets should be treated as a previous error and accounted for by the subject of "profit and loss adjustment in previous years".