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Evaluation of inventory and its influence on the trading income
SEDLOŇOVÁ, Hana
The objective of my bachelor work was to assess the way of accounting and of valuation of inventory in a specific organization and their influence on the economic result. To carry out the analysis of the existing way of accounting and valuation in the organization and to compare it with other possible ways, to compare and assess the influence of individual methods on the economic result, to evaluate the result and to suggest suitable recommendations. Each of the possible accounting methods and of the valuation can influence the economic result either directly or indirectly. The economic result can be influenced by the directly chosen accounting method of the valuation, i.e. directly in the accounts of expenses and revenues. It might be however influenced indirectly, e.g. by the laboriousness of some of the applied methods, which could cause higher wage expenses. A change of the method can also affect the economic result in such a way that the change will be more demanding, more laborious and more expensive than the resulting effect. In the theoretical part I have described in detail the possible procedures of accounting and valuation of inventory, permitted by the legislation of the Czech Republic. In the practical part I have specified the accounting procedures and the valuation of inventory in our company. I have carried out the analysis of the existing procedures of accounting and valuation of inventory. Further I have analysed other possible methods. I have assessed the individual methods not only from the point of view of their direct influence on the economic result, but also their laboriousness and the administrative and economic demands. I have compared the results mutually. Based on those analyses I offered a recommendation, which would be, in my opinion, a benefit for our organization. First of all it would bring a lower laboriousness and less administrative demands. The actual direct influence on the economic result is not too significant, however the work simplification will bring an important effect to the organization. I recommended the change of accounting and of the inventory valuation. I believe that even the valuation of finished product stock would bring a benefit.
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