Accounting and Audit of Materials

Nowadays, it is mandatory for entities to keep full and accurate accounting of their funds to control and manage the use of resources and to make the right managerial decisions. The focus of this study is material resource accounting and audit, that includes both its theoretical and practical aspects. The research methods consisted of a wide review on the relevant literature, combined with the collection and analysis of empirical data. The latter is based on the documents provided by the organization. The results of the study show that the new national standard does not differ much from the international one but still have some aspects that could be improved. The practical part ends with the correction of errors found during audit and the writing of recommendations for improving the accounting system of the organization.