Stocktaking: How to Run It Without Mix-ups and Disputes With Accounting
Legal requirements, the NAS No. 19 procedure and practical steps
Go to the Accounting Services pageChecked against the official source:
The accuracy and reliability of accounting data and financial statements are confirmed by a mandatory stocktake (inventory count) of assets and liabilities; the items covered, the procedure and the timing are set by the stocktaking standard (Article 16 of the Law on Accounting). This is NAS No. 19 «Organization and Conduct of Stocktaking» (a national accounting standard), approved by Order No. 141 of the Minister of Economy and Finance dated 14.06.2024 (reg. No. 3548).
Stages
- an order to carry out the stocktake: commission members, timing, items covered;
- written confirmations from the financially responsible persons that all documents have been handed in;
- counting, weighing, measuring and comparison with the accounting records;
- count sheets and reconciliation statements;
- identifying surpluses, shortages and mis-grading, with explanations from the responsible persons;
- recording the results in the books before the financial statements are prepared.
Where mistakes are most often made
- counting from the accounting records rather than physically;
- not including settlements — receivables and payables — in the stocktake;
- not recording the results before the annual financial statements;
- offsetting mis-grading without a decision of the company's head.
Tax consequences
- losses from theft and shortages where the culprits have not been identified do not reduce profit tax (Article 317 of the Tax Code);
- goods recorded in the books but missing from the warehouse are a sign of concealment of the tax base (Article 223).
We will carry out your stocktake
We will organize a stocktake with an independent commission and record the results in the books.
Go to the Accounting Services pageFrequently asked questions
Is a stocktake mandatory?
Yes, under Article 16 of the Law on Accounting; the procedure and timing are set by NAS No. 19.
Does a shortage reduce profit tax?
No, if the culprits have not been identified (Article 317 of the Tax Code).
See also
Sources
- Закон «О бухгалтерском учёте» — ст. 16; НСБУ № 19 (рег. № 3548 от 12.08.2024)
- Налоговый кодекс Республики Узбекистан
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