The Meaning, Determination And Management Of Inventory

Zdravkoski, Igor and Markusoski, Ljupce and Vasileski, Zoran and Nikolovski, Pece and Andonovski, Miroslav (2021) The Meaning, Determination And Management Of Inventory. In: IBANESS XV, May, 2021, Plovdiv, Bulgaria.

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In every company, in one context or another, we come across the term inventory. The size of inventories determines the concept of operation of enterprises. That is, inventories are one of the most important items in accounting. Determining the size of inventories is a real challenge for any manager. This confirms how important they are.
That is, inventory management is necessary to be able to realistically know at any time how much they are.
In fact, to enable work that will take place in an easy and simple way. Through this data, managers will always be able to achieve a positive result with the lowest costs.
That is, accounting control that needs to take place continuously in order to meet the requirements and claims. But also to keep costs low.
Namely, the results that are presented for a certain period depend on many factors. This includes inventories (raw materials that are prepared to enter the work process and then receive a new output in the form of products or services). But in another case, the inventory implies stored material that is provided for a future period of operationalization.
In fact, inventories are assets from which a certain benefit is expected in a certain period and they act in the operating process only once.
Therefore, they have current assets treatment and their shelf life is one year. But you can also find inventories that are used repeatedly and the shelf life will certainly be longer than one year.
Keywords: current assets, stored material, raw materials, accounting control, inventories.

Item Type: Conference or Workshop Item (Paper)
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Economics
Depositing User: Mr Dimitar Risteski
Date Deposited: 09 Mar 2023 09:47
Last Modified: 09 Mar 2023 09:47

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