1. The aim of inventory

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• 1. The aim of inventory
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• 2. Before inventory
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• 3.during inventory
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• 4. After inventory
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• 1?The aim of inventory ???????
• 1.1 it consists of proceeding to the checking of
  stores assets and liabilities. The physical
  inventory of the goods is only part of the
  general inventory.
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• 1.2 physical inventory is a primary method to
  assure real margin. The quality if physical
  inventory plays a great part in the evaluation of
  a periods operating results.
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• 1.3 to avoid any error that might lead to the
  wring and prejudicial decisions in the future.
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• 2. Before inventory ???
• 2.1 meeting ?? store?
• 2.1.1 accounting head calls a inventory meeting
  participated by store manager, section heads ,
  and service department heads to discuss the
  timing, the methods, CPAs double checking and
  Document delivery timetable and review points
  brought forward from last physical inventory
  (please note points and action plan). (see
  attachment 1,2,6,8,910)
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• 2.1.2 approved by store manager, and then
  accounting head shall execute inventory
  procedure.
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• 2.1.3 accounting head calls the second inventory
  meeting participated by store manage, section
  heads, and service department heads to announce
  inventory procedure.
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• Section ?
• 2.1.4 each section head calls a section inventory
  meeting in which participated by department
  heads, assistants, and secretaries.
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• 2.1.5 accounting heads calls a checking count
  meeting participated by checking team staff.
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• Department ?
• 2.1.6 each department head calls a department
  inventory meeting participated by departments
  staff and inventory supporting staff.
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• 2.2 preparation ??
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• 2.2.1 each section must prepare the drawing of
  stock settled place and inventory procedure
  control list.( see attachment 3)
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• Deparment ?
• 2.2.2 all the returns must be done before
  inventory and any broken goods must be thrown
  away after recording before the physical
  inventory.
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• 2.2.3 department heads must make sure all the
  items which in the store and storage have been
  listed in the computer. (item list by structure)
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• 2.2.4 department heads must check the cost of
  each item if the same with the last purchase
  price, and also check selling price in the store.
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• 2.2.5 print-out item list by structure and item
  list by structure. (reference)
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• 2.2.6 general principle for inventory taking is
  one item one place, but for two exceptional
  situations as follows, it is possible to have two
  places for 1 item and to add one inventory card
  for them.
• 1. T.G
• 2. outside storage
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• 2.2.7 department head has to check store and
  outside storage, and assure the items which at TG
  and outside storage already included in the
  control sheet.
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• 2.2.8 print out control sheet inventory checking
  list, and two-ply inventory cards.
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• 2.2.9 department heads must check the sequential
  number of inventory checking list and inventory
  cards.
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• 2.2.10 an item must be depreciated if it is
  decayed, damaged, or seasonal item (out of
  fashion) and prepare decote list based on decote
  policy.
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• 2.2.11 before physical inventory, each department
  must submit the following documents to accounting
  department.
• --inventory card control sheet
• --item list by structure(reference)
• --inventory card sequential number control list
  (see attachment 4)
• --decote list--the last number control list (see
  attachment 5)
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• 3. During inventory ???
• 3.1 piling up??
• 3.1.1 the store and storage area must be clean
  and in order.
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• 3.1.2 empty packings or cartons must be placed in
  a certain area to avoid mistakes.
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• 3.2 placing inventory cards ??
• 3.2.1 department heads must assure that each item
  has been placed inventory cards.
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• 3.2.2 in is forbidden to throw any inventory
  cards away even if the items have stopped
  ordering or no stocks,because it is an official
  document with real quantity. Before double
  checking, all department heads must submit to
  accounting department all inventory cards with
  zero quantity.
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• 3.2.3 before inventory count, section heads must
  assure that merchandise arranged well and each
  item has its own inventory cards.
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• 3.2.4 departments are not allowed to take
  inventory count until the agreement of store
  manager and accounting head.
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• 3.3 count ??
• 3.3.1 for inventory cards, quantities must be
  written by a blue pen for the first count, and
  signed by the person who counts. (see attachment
  11)
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• 3.3.2 it is invalid for correcting quantities
  without the signature of department
  heads.???????,????????,?????
• 3.3.3 section heads assure the completion of
  inventory count and sign on inventory procedure
  control list.
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• 3.3.4 remind commercial departments to count
• --import labels
• --price labels and scale labels
• --eggs boxes and display cases (bakery,
  butchery, salad bar, restaurant)
• --size labels
• --spoons, chopsticks, napkins and etc. For the
  restaurant
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• 3.4 checking ??
• 3.4.1 checking team shall write down the checking
  quantities with a red pen and sign on the
  inventory cards. (see attachment 11)
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• 3.4.2 100 checking for those items that are on
  the control sheet.
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• 3.4.3 checking team shall check merchandises
  based on the merchandise checking ratio list.
  (see attachment 6) store. manager has to decide
  the percentage of quantity which should be
  systematically checked for inventory.
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• 3.4.4 store manager and accounting head shall
  check decote list based on decote procedure .
  (see attachment 12)
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• 3.4.5 if any quantity discrepancies found by
  checking team,
• --department heads must reconfirm the quantity
  and then sign on the inventory cards.
• --checking team should register quantity
  discrepancies in the checking form (see
  attachment 7), and signed by department heads.
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• 3.4.6 if any question during checking, checking
  tea should report the situation to accounting
  head and section head.
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• 3.4.7 accounting head assures the completion of
  checking and signs on the inventory procedure
  control list.(attachment 3)
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• 3.5 collecting ??
• 3.5.1 once accounting head assured the completion
  of CPAs double-checking,
• --checking team should collect inventory cards
  immediately.
• --the first copy of inventory cards should be
  kept by accounting department, and commercial
  departments keep the second copy of inventory
  cards.
• --no amendment will be allowed for inventory
  cards, and if any problem, another inventory
  taking has to be done before receiving yard
  reopening.
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• 3.5.2 no movement for storages merchandise until
  all inventory procedure completed.
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• 3.5.3 if there is no obvious partition between
  sale area and storage, checking team should
  randomly check storages merchandise again before
  inventory sale area.
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• 4. After inventory ???
• 4.1 commercial department ????
• 4.1.1 inventory cards second copy should be
  arranged in sequential order on the day of
  inventory taking.
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• 4.1.2 secretaries key quantities in computer
  based on the quantities noted on inventory cards
  second copy.
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• 4.1.3 the secretary have to print the inventory
  checking list with the quantity, the check and
  compare with the inventory cards.
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• 4.1.4 inventory checking list should be checked
  and signed by the department heads section
  heads, and then sent to accounting department. No
  revision is allowed.
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• 4.2 accounting department ???
• 4.2.1 inventory cards firs copy shall be arranged
  in sequential order, and checked if match with
  inventory card control list.
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• 4.2.2. On the day of inventory taking checking
  team shall return checking form to accounting
  head. (see attachment 7)
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• 4.2.3 100 check the quantity which is on
  inventory checking list based on inventory cards
  first copy, if any discrepancies, amended by
  accounting department.
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• 4.2.4 5 random check if the purchase price on
  item list by structure (PERERENCE) the same with
  the last purchase cost, if any discrepancies,
  amended by accounting department.
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• 4.2.5 100 check if the purchase price on item
  list by structure (REFERECE) the same with that
  on inventory checking list.
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