1. Theoretical and methodological bases of materials accounting

3.2 Shortcomings in the accounting of materials in «APEAS CONSTRUCTION»LLC and suggestions how to fix them

The conducted research allowed us to conclude that accounting and reporting in «APEAS CONSTRUCTION» LLC is carried out on the basis of the Federal Law "On Accounting", on the basis of the Regulations on Accounting and Reporting, in accordance with the accounting policy developed at the enterprise.

Analysis of the main economic indicators allows us to conclude that «APEAS CONSTRUCTION» LLC is an enterprise with a fairly stable financial position: the company is increasing the volume of work performed, and net profit tends to grow. In 2008, gross profit increased by 24 % compared to the previous year.
The negative aspect of the company's activity is that it is highly dependent on borrowed sources of financing. Equity and short-term loans and borrowings are not sufficient to finance material working capital, which means that inventory is replenished at the expense of funds generated as a result of a slowdown in the repayment of accounts payable.
The study of the composition of the accounting statements of «APEAS CONSTRUCTION» LLC revealed that the reporting is not presented in full. As part of the accounting statements, «APEAS CONSTRUCTION» LLC presents the balance sheet, profit and loss statement, statement of changes in equity, statement of cash flows, and explanatory note. The company does not fill out such an important form of accounting statements as an appendix to the balance sheet. It should be recommended to draw up this form, as it discloses in detail the most important indicators of certain types of assets and liabilities of the enterprise, as well as certain types of profits and losses.
Also, in order to improve the document flow and the order of accounting for payments with suppliers, it is recommended to record the received inventory values on the day of their actual receipt in the warehouse. To optimize the operation of the warehouse facility , the text of the delivery contract with the main supplier should include a condition for timely submission of accompanyingdocuments.
It is necessaryto pay special attention to the organization and implementation of internal control of material accounting, as well as control over the organization and maintenance of accounting of material values, the movement of production stocks and inventory of material resources.
The implementation of the planned measures will eliminate the identified shortcomings and organize the preparation and presentation of accounting statements in accordance with the current legislation and regulatory documents.