Inventory as a method of accounting

An inventory was one of the first methods of economic accounting, which enables to set the actual property at some point. Inventory as an element of the accounting method allows using the test in the nature of material values, monetary assets and liabilities to determine their actual condition. It or accounting data confirms or reveals unaccounted values and admitted the loss, theft, shortage. Using the inventory is also controlled by the preservation of wealth and money, check the completeness and accuracy of accounting data and reporting.