Physical Inventory Guidelines - Stanford University（盘点指南斯坦福大学）.pdf

Physical Inventory Guidelines Purpose This document provides guidelines for conducting annual physical inventories, and is applicable to all units that hold inventory for resale to external or internal customers. Annual physical inventories not only help ensure the accuracy of inventory balances reported in the Universitys financial records but also help you manage the activity in your area. While these guidelines address annual physical inventories, similar concepts apply to cycle counting, but the specific steps are different. Cycle counting is a process that uses regularly scheduled counts but does not count the entire inventory in a single event. Please contact the Controllers Office Business Operations Department at 3-0781 for guidance. The document consists of the following sections and supplemental information in the appendices. Table of Contents Purpose 1 Responsibilities 2 Planning for a Physical Inventory2 Conducting the Physical Count 5 Reconciling the Physical Inventory 6 Appendix 8 A: Sample Inventory Tag 8 B: Sample Instructions for a Physical Inventory 9 C: Sample Inventory Reconciliation 11 D: Sample Report 161 Posted Journals 12 E: Sample Report 138 Invoice Detail 13 F: Sample Report 206 Purchase Order Detail14 G: Sample Inventory Adjustment Journal15 Rev. 2, 17-OCT-2007 page 1 Physical Inventory Guidelines Responsibilities The Finance or Business Manager of the unit is responsible for ensuring the annual physical inventory is properly performed, inventory records reflect actual quantities on hand, inventory valuation methods are appropriate, and adjustments are entered in the Universitys acc