The main procedures that the entities should consider when carrying out the patrimony inventory according to OMFP no. 2.861/2009, are summarized below.

Inventory procedures

Intangible assets

During the inventory performance, the inventory committee will require access to the property deeds or other legal documents attesting to the legal rights over patents, licenses, trademarks, and other intangibles, to prove the physical existence of intangible assets.

Tangible assets

Land – the inventory committee should obtain all the supporting documentation for certifying their ownership.

Other tangible assets and investments are fully or partially put into function, but not recognized as tangible assets in the company’s books.

Both in the case of tangible assets, but also of other assets provisioned for impairment, the inventory lists will include their accounting value, less the depreciation and impairment provision as at the inventory date, for being compared with their actual value, determined based on factual findings during the physical inventory.

Intangible and tangible assets in progress

During the inventory of intangible and tangible assets in progress, the inventory committee must count the materials and equipment for being assembled and not built-in the assets yet, which are received from the beneficiaries. The inventory lists contain the name of each asset and the related value determined according to the stage of execution and based on the reception notes, as well as according to the volume of the works carried out on the date of the inventory. 

Abandoned investments.

The investments that are no longer executed, being suspended, or abandoned, are highlighted on the separate inventory lists, mentioning the causes of the suspension or abandonment, the approval for the suspension or abandonment, and the proposed next actions about these works.

Tangible assets held outside the entity

Tangible assets that during the inventory do not exist inside the entity, such as ships, locomotives, wagons, airplanes, vehicles, etc., in the long run, or the power machines and energy equipment, work equipment, and installations, devices, and the measurement and control tools and means of transport sent for being repaired outside the entity are counted before they went out from the entity’s premises temporarily. If not, these assets should be confirmed in writing with the entity where they are located.


The stock-taking is done by counting, weighing, measuring, or dicing. Goods kept in their original packaging are opened randomly, and this procedure will be documented in the respective inventory lists.

The goods suppliers must perform the counting of the goods shipped, while the beneficiary entities will count the purchased goods that are being supplied, mentioning them in the separate inventory lists.

Production in – progress should be also counted. These include products that have not gone through all the processing stages required by the technological production process, as well as products that, although they have been accomplished, do not have the final technical reception or have not been fully accomplished with all their parts and accessories.

The goods existing in the entity and belonging to other entities (rented, under lease, under concession, in administration, in custody, received for sale on consignment, for processing, etc.)

These are counted and highlighted on the separate inventory lists, which contain mainly the information about their reception/delivery.

The leasing companies have the obligation to require the users to provide inventory lists of the goods that are the subject of the leasing contracts.

The entities owning the goods are obliged to carry out the inventory and send the inventory lists for confirmation, as well as the owners of those goods are obliged to require confirmation for the existing goods to third parties. 

Depreciated, unusable, or damaged goods, non-moving or difficult to sell, orders in – progress, abandoned or suspended, as well as uncertain or disputed claims and obligations, are counted and listed on the distinct inventory sheets.

Receivables and payables from/to the third parties

The existence of receivables and payables from/to the third parties is done through the confirmation process by using the receivables and payables account statements known as “Account statements “or just using formalized reconciliation notes exchanged between parties. 

Cash and cash equivalents

The cash at banks or at the State Treasury units is counted by comparing the balances recorded in the entity’s books with the existing balances in the bank statements issued by the credit institutions and the State Treasury units on the last financial year day or banking day.

The counting of the petty cash is done by reconciling the balances recorded in the petty cash register with the monetary and accounting balances.

The short-term and long-term securities are counted based on the documents that certify their ownership, such as the shareholders’ register, the documents that support the evidence of their acquisition, or free of charge grant.

The postage stamps, tax stamps, travel vouchers, meal, and gift vouchers, etc. are presented on the inventory lists at their nominal value.

The assets that do not have material substance, liabilities, and equity are counted based on the distinct analytical situations, and their balances are checked against the balances of the corresponding synthetic accounts, which are registered in the “Inventory-Register”.