8. Reconciliation of Physical Inventory to Accounting Records

  1. Alfred M. King

Published Online: 20 DEC 2011

DOI: 10.1002/9781118269107.ch8

Internal Control of Fixed Assets: A Controller and Auditor's Guide

Internal Control of Fixed Assets: A Controller and Auditor's Guide

How to Cite

King, A. M. (2011) Reconciliation of Physical Inventory to Accounting Records, in Internal Control of Fixed Assets: A Controller and Auditor's Guide, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118269107.ch8

Publication History

  1. Published Online: 20 DEC 2011
  2. Published Print: 21 FEB 2011

ISBN Information

Print ISBN: 9780470539408

Online ISBN: 9781118269107

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Keywords:

  • property, plant, and equipment;
  • accounting records;
  • capitalization;
  • internal control;
  • company management

Summary

This chapter contains sections titled:

  • Two Approaches to Reconciliation

  • Ghost Assets

  • Zombie Assets

  • Netting Out Ghost and Zombie Assets—Is It Permissible?

  • Netting Out Gains and Losses

  • Performing the Inventory and Reconciliation Piecemeal

  • Summary