The Research On Internal Control Of Inventory In Hunan Tobacco Industry Company

With the development of the world economy,the proportion of joint-stock companies in the world economy is gradually increasing.The emergence of the finite rational person hypothesis and the principal-agent theory reveals the information asymmetry between the principal and the agent.Besides,with the occurrence of numerous corporate fraud incidents,the concept of internal control has attracted the attention of corporate managers.People have realized that it is an important foundation for ensuring the stable operation of enterprises to establish an internal control system.And how to establish a reasonable and effective internal control system has also become a popular research object of today's accounting scholars.Guided by the Basic Standards for Internal Control of Enterprises formulated by our country,the paper analyzed the internal inventory control system of Hunan Tobacco Industry Company,and it was found that the company's internal inventory control system has mainly the following problems: the internal control system is not updated in time;the procurement structure of inventory except tobacco needs to be optimized;the high cost of tobacco inventory;the overstock of inapplicable tobacco and surplus tobacco;and the insufficient quality control in non-production links.The author puts forword that the causes of these problems can be divided into external causes and internal causes.The external causes mainly refers to the external influence factor of the problem,which is determined by the nature of the problem itself.While by eliminating the external influence of the problem,we can find the deeper internal management factors,namely the internal causes.The framework of the paper is “raising problems–analyzing problems–solving problems”.Based on the reading of relevant literature on internal inventory control and combining materials and data obtained from field research,the paper analyzed the status of the internal inventory control system of Hunan Tobacco Industry Company from five elements of internal control,including control environment,risk assessment,control activities,communication and exchanges,and supervision and restriction.Then identified the causes of internal inventory control problems.Finally,corresponding optimization suggestions and safeguard measures were proposed.