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Excerpt
hiddentrue

Page_title

Prerequisite

  WP1Image Removed WorldwideImage Removed
Info

IAC Control

      Image Removed   
product costing

Area:  Controller (requester)

previous Operation(s): (warning)

Tip
Rules & Glossary: Costing - Rules Costing - Glossary Costing - SAP Operation

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Process: Inventory Valuation
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Responsibility area: Internal Control Monitor  

Risk :
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Risk

All materials aren't

counted

counted   

Objective
: 

FRA ensures that plant physical inventory procedure is updated every year, that

physicak

physical count coverage comply with group rules and that auditors can supervise physical inventory organized during Q4

.


Process description
: 

Physical inventory objective is to check the existence and ownership of inventories.

Control description
: 

FRA

:updates plant

  1.  Validate and publishes local inventory procedure and
cotrol
  1. control compliance prepared by PIM with group rules
  • coordinates with Physical Inventory Manager (PIM) execution to reach defined targets at end of September and of December
    1. (in accordance with the checklist)

    2. Validate and Publishes updated physical inventory planning prepared by PIM and taking into account that :t :

      -  90% of the physical inventory count ( in value of items) has to be done for the end of September (including external Storage
      - 100% of the physical inventory count ( in value of items) has to be done for the end of November (hard close) (including external Storage)*
      - if "full spot" physical inventory is done, then 100% until the end of December 

    3. Validate and post memorandum of inventory

    4. Ask for
    publishes last quarter physical inventory planning and require
    1. GCCO validation for exceptions to the rules defining the
    physicak
    1. physical coverage rate for year end

     

    Expand
    titleSAP Transactions

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    sorttitle
    operatorAND
    cqllabel = "op_xxx" and space = "SAPCost"
    labelsmaintain_assessment_cycles

    1. .

    Former Controls

    IAC 04.13.00.01 / IAC 04.13.00.03 / IAC 04.13.00.04

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    Scope
    WP2 & PF2
    Frequency

    Last working day of September and of November

    Control owner

    Finance Responsible Assigned (FRA)

    References




    Control evidences

    IAC.02.03. Physical inventory

    • Physical inventory count
    • Annual inventory planning
    • Memorandum of inventory
    • Mail of validation from GCCO



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      Guideline  

    Guideline

    I fill the check-list (IAC.02.03). Physical inventory

     

    2 sheets must be filled:

    1. Physical Inventory Check-List

    2. Inventory Report


    Expand
    titleI fill the check-listdownload the last version of the checklist

    Download the file :

    Include Page
    the check-list (IAC.02.03)
    Expand
    titleI fill
    Expand
    titlestep by step operational tasks

    include a task here

    Expand
    titlevalidation of task result

    task result validation

    Expand
    titlenotification to requester

    notification to requester with result

    Reference

     

    Next Operation(s): (warning)

     

     

    the checklist

    Start to fill :

    1. the site
    2. the controller's name
    3. the date
    4. the period

    Then answer "Yes" "No" or "N/A" to confirm that each control is performed .


    Warning

    If the answer is "No" or "N/A", it is compulsory to add a comment in column H

     
    It is possible to add a control evidence (attachment or a link)


    Expand
    titleI attach the procedure & sales force ticket
    Section

    1. Attach your validated procedure describing how items excluded from slow turn reserve are identified

     

    Column
    width30
    1. Choose "insert"
    2. Click on the "Object" button
    3. This window will open
    4. Select "Create from File"
    5. Add you file by clicking in "Browse"
    6. Select "Display as icon"
    7. Select OK
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    Image Added

    2. Enter the sales force ticket that was used to submit the calculation to the service center.

    Image Added


    Expand
    titleI save the control evidence send to the GCCO

    Approval emails sent by GCCOs must be saved in pdf.

    Image Added

    Expand
    titleI post the control evidence in Aodocs

    Include Content
    pageCostProc:I post my control evidence in Aodocs




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