Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 13-1 Overview of the Inventory Management Process Purchasing process Inventory management process Revenue process Purchase of raw materials Payment of manufacturing overhead Human resource management process Assignment of direct and indirect labor costs Sale of goods

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 13-2 Karateristik persediaan  Unsur aktiva yang disimpan dengan tujuan dijual dalam kegiatan bisnis yang normal atau barang- barang yang dikosumsi dalam pegolahan produk yang akan di jual

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 13-3 Persediaan umumnya mendapat perhatian yang lebih besat dari auditor di dalam auditnya karena bergagai alasan berikut ini  Umumnya persediaan merupakan komponen aktiva lancar yang jumlahnya cukup material dan merupakan objek manipulasi serta tempat terjadi nya kesalah besar  Penetuan besarnya persediaan secara langsung mempengaruhi harga pokok penjualan, sehinggan berpengaruh pula terhadap perhitungan laba tahun yang bersangkutan.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 13-4  Verifikasi kuantitas, kondisi dan nilai persediaan merupakan tugas yang lebih komplek dan sulit dibanding dengan verfikasi sebagian besar unsur keuangan lainnya.  Seringkali persediaan disimpan di berbagai tempat sehingga menyulitkan pengawasan dan perhitungan fhisiknya.  Adanya berbagai masam persediaan menimbulkan kesulitan bagi auditor dalam melaksanakan auditnya.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Production Data Information – Contains information about the transfer of goods and related cost accumulation at each stage of production. 6.Cost Accumulation and Variance Report – Material, labor, and overhead costs are charged to inventory as part of the manufacturing process. The variance report compares actual costs to standard or budgeted costs. 7.Inventory Status Report – Shows the type and amount of products on hand. 8.Shipping Order – Used to remove goods from the perpetual inventory records. Type of Documents and Records 1.Production Schedule – Based on the expected demand for the entity’s products. 2.Receiving Report – Records the receipt of goods from vendors. 3.Materials Requisition – Used to track materials during the production process. 4.Inventory Master File – Contains all the important information related to the entity’s inventory, including the perpetual inventory records.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin InformasiData Producsi– Transfer barang dan akumulasi biaya yang terkait di tiap tahap produksi harus dilaporkan. 5.Informasi Data Producsi– Transfer barang dan akumulasi biaya yang terkait di tiap tahap produksi harus dilaporkan. 6.Laporan Akumulasi Biaya dan Varians – Bahan baku, tenaga kerja dan biaya overrhead dibebankan ke persediaan sebagai bagian dari proses pabrikasi. Menyajikan hasil dari pemrosesan persediaan dalam bentuk biaya aktual dan biaya standard atau biaya yang dianggarkan. 7.Laporan Status Persediaan – Memperlihatkan jenis dan jumlah produk di tangan. 8.Order Pengiriman – Digunakan untuk memindahkan barang dari catatan persediaan perpetual klien. Jenis-jenis Dokumen dan Catatan 1.Jadwal Produksi – Permintaan yang diperlukan dapat didasarkan pada pesanan berjalan 2.Laporan penerimaan – Mencatat penerimaan barang dari vendors. 3.Permintaan Bahan baku – Digunakan oleh perusahaan manufactur untuk menelusuri bahan baku selama proses produksi. 4.Arsip Induk Persediaan – Berisi semua informasi penting yang berkaitan dengan persediaan entitas termasuk catatan persediaan perpetual

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 13-7 Fungsi-fungsi Utama

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 13-8 Pemisahan Kunci Kunci

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 13-9 Control Procedures and Tests of Controls – Inventory Transactions

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Menghubungkan Tingkat Resiko Pengendaliaan yang ditentukan dengan Prosedur Substantif

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Relating the Assessed Level of Control Risk to Substantive Procedures

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Auditing Inventory Substantive Analytical Procedures

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Auditing Inventory Auditing Standard Costs Material Test the quantity and type of materials included in the product and the price of the materials. Labor Gather evidence about the type and amount of labor needed for production and the labor rate. Overhead Review the client’s method of overhead allocation for reasonableness, compliance with GAAP, and consistency.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Tests of Details of Transactions, Account Balances, and Disclosure Examples of Disclosure Items: 1.Cost method (FIFO, LIFO, retail method). 2.Components of inventory. 3.Long-term purchase contracts. 4.Consigned inventory. 5.Purchases from related parties. 6.LIFO liquidations. 7.Pledged or assigned inventory. 8.Disclosure of unusual losses from write-downs. 9.Warranty obligations. Examples of Disclosure Items: 1.Cost method (FIFO, LIFO, retail method). 2.Components of inventory. 3.Long-term purchase contracts. 4.Consigned inventory. 5.Purchases from related parties. 6.LIFO liquidations. 7.Pledged or assigned inventory. 8.Disclosure of unusual losses from write-downs. 9.Warranty obligations.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Evaluating the Audit Findings - Inventory At the conclusion of testing, the auditor should aggregate all identified misstatements. The likely misstatement is compared to the tolerable misstatement allocated to the inventory account. Likely misstatement < Tolerable misstatement The auditor may accept the inventory account as fairly presented. Likely misstatement > Tolerable misstatement The auditor may conclude the inventory is not fairly presented.