Finished products are valued in current accounting. I
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MINISTRY OF EDUCATION AND SCIENCE OF THE RUSSIAN FEDERATION
FEDERAL STATE BUDGET EDUCATIONAL INSTITUTION OF HIGHER PROFESSIONAL EDUCATION
UFA STATE UNIVERSITY OF ECONOMICS AND SERVICE (UGUES)
DEPARTMENT " Accounting, analysis, audit and statistics"
Test
Pabout the discipline: Accountinget, analysis, audit and statistics
nand the topic " Finished products, eecomposition and evaluation. Uchet of receipts finished products "
Student
Enikeeva O.M.
I checked
Ph.D. economy Sciences, Associate Professor
Shamonina T.P.
Introduction
1 Finished products. Its assessment and accounting tasks
2 Synthetic accounting of finished products
3 Analytical accounting of products in the warehouse and in the accounting department
Bibliography
INTRODUCTION
The volume of production and sales of finished products is the most important indicator of the activity of any industrial enterprise. In conditions of limited production capabilities and relatively unlimited demand, the volume of production comes first. But as the market becomes saturated and competition intensifies, it is not production that determines sales volume, but, on the contrary, the possible sales volume is the basis for developing a production program. An enterprise must produce only those goods and in such volumes that it can actually sell.
Every business must sell its products to the consumer. During the sales process, the usefulness and quality of the company's products are revealed. The sale completes the circulation of funds. The enterprise reimburses its costs associated with the production and sale of products and sells the products created in production. net income, which is partly listed in the state budget and partially remains with the enterprise in the form of profit. The production and sale of finished products for organizations in the sphere of material production is the main element entrepreneurial activity and one of the main stages in achieving the goal of such activity is systematically generating profit.
Accounting must ensure systematic control over the production, shipment and sale of products, associated costs and financial results obtained, and the status of settlements with buyers and customers. A decrease in the level of calculation discipline leads to an increase accounts receivable, including expired. The main share of the debt consists of obligations for settlements with buyers and customers for goods shipped, finished products, work performed and services rendered. Therefore, questions of correct formulation and organization accounting production and sale of finished products are of paramount importance for the generation of information necessary for making management decisions.
All of these factors determine the relevance of the problems of improving the accounting methodology for finished products. However, despite the importance of these issues for manufacturing enterprise, in modern economic literature Insufficient attention is paid to this important topic, which indicates some novelty of the research carried out within the framework of this work.
The theoretical basis of this work is the works of modern economists on the issues under study, such as Bakanov M.I., Bezrukikh P.S., Kondrakov N.P. etc., educational and methodological manuals on accounting, publications in periodicals on the topic course work(magazines “Accounting”, “Glavbukh”, newspaper “Economy and Life”.
analytical accounting finished products
1. Finished products. Its assessment and accounting tasks
In accordance with PBU No. 5/01 “Accounting material and production reserves" Products are considered finished, which has been fully processed, assembled and completed, meets the requirements of standards, the terms of the contract, and has been accepted by the department technical control and delivered to the finished goods warehouse or transferred to the buyer. Finished products may include parts, assemblies and semi-finished products if they are sent to customers as spare parts or components.
Products that have not undergone all processing operations or are incomplete, as well as not delivered to the warehouse, are recorded as part of work in progress.
Sales revenue volume. The volume of revenue from the sale of products, work performed and services provided is the most important indicator characterizing the production and financial activities commercial organization and industrial enterprise.
The sale of products completes the circulation of funds of the organization (enterprise), as a result of which it is possible to use the proceeds received to pay for purchased property, raw materials and materials, to pay off wages to employees, to the budget for taxes and fees, and to payments for off-budget funds, with the bank for loans. The sale of products, works and services should ensure not only reimbursement of production and sales costs, but also profit - one of the most important sources of expanding production, updating, modernizing and reconstructing fixed assets, increasing production volume.
Products, works and services are considered sold when ownership of them transfers from the seller to the buyer, from the manufacturer to the consumer. From this moment, their cost is recognized as income and included in the volume of revenue.
In accounting, revenue is accepted in an amount calculated in monetary terms, equal to the value receipts Money and other property, as well as the amount of receivables arising as a result of the transfer of products, works, and services to the buyer or consumer.
For accounting purposes, revenue is recognized if the following conditions are met: the organization has the right to receive this revenue in accordance with a specific purchase and sale agreement or other justification; the amount of revenue can be determined; there is confidence that as a result of a particular transaction there will be an increase in funds or economic benefits; the right of ownership (possession, use and disposal) of the product has passed from the manufacturer to the buyer, the work has been accepted by the customer, the service has been provided to a certain organization or to an individual; the costs incurred for a given operation can be determined.
Payment for products, works, services can be made in cash, currency or other property (raw materials, materials, goods, etc.). The receipt of funds from the sale is reflected in accounting on the basis of settlement and payment documents (payment orders, payment requests, cash receipt orders, invoices, etc.).
According to the shipping and settlement documents, the volume of proceeds from the sale is determined, which includes the cost of shipped (or paid for) products and semi-finished products of own production to other organizations, work performed and services provided for customers, finished products and semi-finished products sold to their service industries and farms. If products (products, semi-finished products) are consumed in the main production, then their cost is not included in the proceeds from the sale. The amount of revenue as an indicator is used in management when analyzing the organization’s activities, developing a business plan, and for taxation.
Product measurement unit. In accounting, products are reflected in natural, conventionally natural units and in value terms. Pieces, liters, tons, etc. are used as natural units of measurement. With their help, analytical records are maintained and the quantity, volume and weight of products are calculated by their types, varieties, sizes, etc.
Along with natural ones, a number of industries use conditionally natural meters to obtain generalized data on the production of homogeneous products. Conversion of products into conditionally natural meters is carried out using coefficients calculated depending on the content of useful substances in the products, the duration of the production cycle, the complexity of their production, etc. Conventional natural units are used, for example, in ferrous metallurgy (conversion of all smelted cast iron into pig iron), in canning factories (production in thousands of conventional cans), in the chemical industry (weight or volume units in kind without indicating the content of useful substances).
Along with natural, conditionally natural meters, a cost meter is used. Using a cost meter, analytical and synthetic accounting is carried out, product output indicators, revenue volume and financial results from the sale of products are determined. When forming cost indicators, products are assessed according to standard (planned) and actual cost, at sales prices.
Nomenclature - price tag. An important prerequisite for the correct organization of synthetic and analytical accounting release, sale and storage of products in warehouses, as well as calculation financial results is the presence of a nomenclature - a price tag.
Nomenclature - price tag - is a list of manufactured products (products). It is developed by the organization itself. When developing it, the classification of products (products) according to certain criteria (purpose, model, article number, brand, grade, etc.) is taken as a basis. In accordance with this, the number of digits in the nomenclature number is established. The nomenclature - price tag indicates the nomenclature number, the name of the product (products), their characteristics, the unit of measurement and the accounting price. The standard (planned) cost or sales price is used as the accounting price. When computers are used in an organization, in addition to the nomenclature - price tag, directories are compiled with an expanded list of characteristics for manufactured products and data about customers. In particular, in the directory, along with item numbers, the following characteristics are entered: non-taxable and taxable products, tax rates, etc. On the basis of such lists, information is compiled on the production of products by the main production, auxiliary workshops, service farms, individual workshops and areas, etc. .
Evaluation of finished products, works, services. The release and sale of finished products, work performed and services rendered on synthetic accounts are reflected at the actual cost of their production.
In current accounting, products, works, services can be assessed:
At actual production cost. This assessment method is used in industries that produce products or perform work on individual orders. The actual cost of each product or type of work is determined as they are completed, which makes it possible to use this assessment;
At standard (planned) cost. With this method of assessment, at the end of the month, deviations of the actual cost from the standard (planned) cost are identified, which are reflected separately in analytical accounting. This method of assessment is possible when the organization uses the standard method of cost accounting and calculating the cost of products, in the presence of planned calculations;
At sales prices for products and tariffs for work (services). In this case, at the end of the reporting period, the difference between the cost of products (work, services) at sales prices (tariffs) and its actual cost is calculated, which, like deviations in the previous method of assessment, is also shown separately in analytical accounting;
By direct items of expenses (at reduced cost). With this valuation method, all indirect costs are written off directly to the products sold.
When using standard (planned) cost or sales prices in current accounting, it becomes necessary to identify and distribute the specified cost deviations (differences) between shipped, sold products and their balances in the warehouse and in shipment.
Deviations (differences) are identified for products released from production by comparing its actual cost with the standard (planned) cost or cost at sales prices. Between the shipped (sold) products for the month and their balances at the end of the reporting period in the warehouse (in shipment), they are distributed according to the weighted average percentage, calculated as the ratio of the actual cost of the balance of products at the beginning of the month (in the warehouse, in shipment) and the products released (shipped , sold) in a given month, to the cost of the same volume of products at standard (planned) cost or at sales prices.
The calculation is carried out in the context of individual groups of manufactured products. In analytical accounting, deviations (differences) are added to the standard (planned) cost or to the cost at sales prices, as a result of which the actual cost is determined. On synthetic accounts, their positive value (the excess of the actual cost over the standard (planned) cost or the cost at sales prices) is reflected by a regular, additional entry, and a negative value - by the “red reversal” method.
i) The sale of products (works, services) is carried out: at free selling prices and tariffs, increased by the amount of value added tax (VAT), at state regulated wholesale prices (tariffs), increased by the amount of VAT, and at state regulated retail prices, including VAT. For excisable products to sales price an excise tax is added, and when selling it for cash, a sales tax is added.
Free selling prices are agreed upon by the parties to the transaction, i.e. the seller and the buyer, and are recorded in the purchase and sale agreement. Available contract prices are checked if necessary tax authorities. Prices may be subject to verification if they deviate by more than 20% from the level of market prices for identical products, prices under agreements concluded between interdependent organizations, for commodity exchange transactions and foreign trade transactions.
The prices specified in the contract are verified:
Based on documented information obtained from official sources about market prices. TO official sources includes information on stock quotes and market prices published in printed publications government agencies according to statistics and bodies regulating pricing, as well as the opinions of experts who have the right to carry out valuation activities;
Subsequent sale price method. With this method, the subsequent sale price of the product is taken as the basis. This method is used when there are no transactions on the market for identical or similar goods;
The cost method, in which the market price is calculated as the sum of expenses incurred and ordinary profit for a given field of activity. The normal profit margin is equal to the profitability level prevailing for similar products. Information on the level of profitability is provided by statistics and pricing authorities.
The tasks of accounting for product output and sales include:
Control over the timely and correct execution of primary documents for the release and shipment of products;
Timely issuance and provision of settlement and payment documents to the buyer and the bank;
Providing managers of the organization and relevant departments with information about the availability and movement of products in order to control the timely receipt and shipment, as well as the safety of finished products;
Control over the timely receipt of funds from the sale of products, reconciliation of mutual settlements with customers
A very important task for each organization is to maintain, along with accounting, operational records of the release, shipment and sale of products.
2 . Synthetic accounting of finished products
The life cycle of finished products at an enterprise consists of stages: release from production - release (shipment) to customers. In accordance with this, the following groups of accounting operations are distinguished in accounting: accounting for release, accounting for shipment (issue) and expenses associated with sales.
Active account 43 “Finished products” is intended for accounting (availability) of finished products, their movement (receipt, shipment). This account is used by organizations engaged in industrial, agricultural and other production activities.
Finished products purchased for assembly (the cost of which is not included in the cost of the organization's output) or as goods for sale are accounted for in account 41 “Goods”. The cost of work performed and services provided is not reflected in account 43 “Finished products”, and the actual costs for them as they are sold are written off from the production cost accounts to account 90 “Sales”.
Acceptance for accounting of finished products manufactured for sale, including products partially intended for the organization’s own needs, is reflected in the debit of account 43 “Finished products” in correspondence with accounts for recording production costs or accounts 40 “Output of products (works, services)".
When revenue from the sale of finished products is recognized in accounting, its value is written off from account 43 “Finished Products” to the debit of account 90 “Sales”.
If revenue from the sale of shipped products cannot be recognized in accounting for a certain time (for example, when exporting products), then until the revenue is recognized, these products are recorded in account 45 “Goods shipped.” When it is actually shipped, it is recorded on the credit of account 43 “Finished products” in correspondence with account 45 “Goods shipped”.
When accounting for finished products in synthetic account 43 “Finished Products” at actual production cost in analytical accounting, the movement of its individual items can be reflected at accounting prices (planned cost, selling prices, etc.) highlighting deviations of the actual production cost of products from their value at discount prices. Such deviations are taken into account for homogeneous groups of finished products, which are formed by the organization based on the level of deviations of the actual production cost from the cost at the accounting prices of individual products.
When writing off finished products from account 43 “Finished Products”, the amount of deviations of the actual production cost related to these products from the cost at prices accepted in analytical accounting is determined by a percentage calculated on the basis of the ratio of deviations to the balance of finished products at the beginning of the reporting period and deviations by products received at the warehouse during the reporting month, to the cost of these products at discount prices.
The amounts of deviations of the actual production cost of finished products from their cost at accounting prices related to shipped and sold products are reflected in the credit of account 43 “Finished Products” and the debit of the corresponding accounts with an additional or reversal entry, depending on whether they represent an overexpenditure or savings .
3 . Analytical accounting of products in the warehouse and accounting department
Analytical accounting- this is natural and cost accounting of products in the warehouse and in the accounting department. It is maintained by names, varieties, types, sizes and storage locations of products. The purpose of such accounting is to obtain information about the availability, receipt and consumption of products, as well as to ensure control over its safety by financially responsible persons. An important condition The correct organization of analytical accounting is, first of all, the good condition of the warehouse. Warehouses must meet product safety requirements, be isolated, equipped with security and fire alarms, and have weighing instruments. Products must be placed in advance designated places, to which labels are attached indicating the names of the products, units of measurement, stock standards, actual availability, etc. Agreements on financial responsibility are concluded with financially responsible persons (warehouse managers, storekeepers), while the enterprise must create all conditions for complete safety material assets in stock.
Warehouse accounting is maintained by materially responsible persons on product accounting cards. They reflect the availability and movement of finished products in natural units of measurement (pieces, meters, kilograms, etc.).
Cards are opened for each name (item number) of products in the accounting department and, against a signature in the registration journal, are transferred to the warehouse. The cards indicate the name, item number, grade, size and other characteristics of the product, registration price, storage location, and stock norm. For ease of use, cards in the warehouse are placed in a special box - a card index, where they are arranged by product groups, and within the groups - by item numbers in ascending order. Cards of one group are separated from another by separators, on which the numbers and names of product groups are indicated.
Entries in cards are made by financially responsible persons on the basis of documents on the receipt of finished products into the warehouse and departure from the warehouse as operations are performed. At the end of the working day, the final balance is displayed in the cards where the movement of products was noted. At the end of the reporting period, the final balance is entered in all cards (regardless of whether there was or was no movement of finished products for a particular product name).
Periodically, the warehouse manager or storekeeper uses cards to determine the excess of actual balances over stock standards, and if there are products without movement, he draws up a signal certificate, which is transferred to the sales or marketing department to take measures to reduce product balances.
Cards can be filled out using technical means installed in the warehouse. Data on income and expenses are entered into cards warehouse accounting simultaneously with the issuance of primary documents.
At enterprises with a small range of products, instead of cards in the finished product warehouse, an accounting book is kept.
In warehouses equipped with computer technology, instead of cards and an accounting book, an operational statement of the availability and movement of finished products by their names and types is compiled using a computer. Such a statement is compiled for accounting, sales, marketing and other interested users.
At a number of enterprises, finished products are packaged in workshops, and they arrive at the warehouse in boxes, which indicate their name and the number of products in one box. In this form (without unpacking the boxes), the products are transferred from the warehouse to customers. When receiving and releasing products, the storekeeper does not check the contents of the boxes and, therefore, is not responsible for the quantity of products in them, but for the number of boxes received and their integrity. In such cases, warehouse records of the movement of finished products should be kept not only in natural units, but also by the number of boxes of the corresponding marking.
All primary documents on the receipt and consumption of products from the warehouse are transferred to the accounting department. As a rule, such transfer is carried out directly at the warehouse. An accounting employee comes to the warehouse every day or once a week (ten days) and checks the correctness of the preparation of primary documents, entries in cards or the finished product accounting book for its receipt and consumption and the calculation of balances. Any errors found are corrected immediately. The accuracy of the calculated balances is confirmed in the cards or accounting book by the signature of an accounting employee.
After checking the entries in warehouse cards or the warehouse accounting book, the financially responsible person (warehouse manager, storekeeper) transfers the documents to the accounting employee. The transfer is formalized in a special register, filled out in two copies, the first of which remains in the warehouse, and the second, together with the documents, is transferred to the accounting department. At some enterprises, a register is not compiled, and evidence that the documents have been transferred to the accounting department is the accountant’s signature on warehouse cards or the accounting book.
At the end of the month, the warehouse manager (storekeeper) transmits information about products in natural units of measurement to the accounting department. If the balance sheet (operational accounting) method of accounting for material assets is used, then a balance sheet is filled out, into which balances from cards in natural units of measurement are transferred to the warehouse. In accounting, they are valued in monetary units.
At a number of enterprises where the range of products is insignificant, financially responsible persons draw up a report on the movement of finished products in the warehouse, into which the final records of the receipt and consumption of products for the month, balances at the beginning and end of the reporting period are transferred from cards or accounting books for each item number. period. The report provides information for each item number in quantitative terms. Based on the report data, the accounting department prepares a grade turnover sheet in quantitative and cost terms.
In accounting, on the basis of receipt and expenditure documents, as well as balance sheets and warehouse reports, cost analytical accounting of finished products is carried out.
Currently, analytical (varietal) accounting of finished products in organizations can be carried out using one of the following methods: parallel; using a grade turnover sheet; balance (operational - accounting) method.
The parallel method is characterized by the fact that grade accounting of finished products is carried out in the warehouse and in the accounting department. Quantitative accounting cards are kept in the warehouse, and quantitative accounting cards are kept in the accounting department. Entries in warehouse and accounting cards are made on the basis of incoming and outgoing primary documents. At the end of the reporting period, the cards determine the turnover for the month and the balances at the end of the month: in the warehouse only by quantity, and in the accounting department by quantity and amount. Warehouse accounting data is periodically verified with accounting data. Based on the final data of the analytical accounting cards maintained in the accounting department, at the end of the month, a sort turnover sheet is compiled in the context of names or item numbers of products. The statement for each product item shows the balance at the beginning of the month, income and expenses for the month, and the final balance in physical and value terms. The final cost data (balances, receipts and expenses) of the sorted turnover sheet are compared with the corresponding data in the General Ledger for account 43 “Finished products”. Since entries in quantitative and total accounting cards and in synthetic accounting registers are made on the basis of the same income and expenditure documents, there must be equality between the compared values. If there is a discrepancy, it is necessary to check the correctness of the entries from the primary documents in the synthetic and analytical accounting registers.
This method is used in small enterprises with a limited range of products and in conditions of manual accounting work. It is quite labor-intensive due to the parallel maintenance of quantitative accounting cards in the warehouse and quantitative accounting cards in the accounting department, calculations in cards and statements of cost data on receipts and expenditures in the context of individual items or item numbers of products.
The method of analytical accounting of finished products using a grade turnover sheet is as follows. In stock, same as parallel method accounting, quantitative accounting cards are maintained, and in the accounting department - a grade turnover sheet in the same form as with the parallel method, the data in which is entered directly from the primary receipts and expenses documents. In this case, the primary documents are sorted by item numbers or product names. Usually on the back of the last one receipt document For each item number (name) for the reporting month, the quantity and amount of products received is indicated, on the back of the last document for consumption - the quantity and amount of products sold. This method involves the use of one-line documents. If multi-line documents are used, then accumulative sheets are used separately for receipt and expense, in which data is accumulated in the context of item numbers. The production accounting sheet can be used as a cumulative receipt sheet.
Accumulated per month primary documents or using the accumulative sheet, the data is transferred to the grade turnover sheet.
In a number of cases, a grade turnover sheet is compiled on the basis of a material report - responsible person, which is filled out according to the warehouse accounting cards (books). The summary data on balances, receipts and expenses in physical terms are transferred to the report from the cards for each item number. In the statement, they are taxed by item numbers and the amounts are calculated by groups and for all products as a whole.
Quantitative data on individual item numbers of products of the sort turnover sheet are compared with the corresponding data from warehouse accounting cards, and the final data for the statement as a whole is compared with the corresponding data (balance at the beginning and end of the month, income and expense) of synthetic accounting for account 43 “Finished products” .
The balance (operational accounting) method of accounting for finished products involves the preparation of a balance sheet of accounting.
The balance sheet (balance sheet) reflects the balances as of the first day of each reporting period. The statement is opened in the accounting department for each warehouse and is maintained in the context of groups and item numbers (names) of finished products. For each item number (name), the unit of measurement and the accounting price are indicated. At the end of the reporting period, the statement is transferred to the warehouse. The warehouse manager (storekeeper) transfers the balance at the end of the reporting period in kind from the warehouse accounting cards (books) to the statement for each item number. From warehouses, statements are transferred to the accounting department, where balances are taxed, amounts are calculated by groups, warehouses and for the enterprise as a whole.
The balance of products at the end of the reporting period (at accounting prices and actual costs) is calculated as follows: the balance at the beginning of the period plus received from production and in the order of return minus shipped and released in the order of sale.
Remains of finished products reflected in section. 1 statement No. 16, are compared at accounting prices with the data of the balance sheet for accounting for the balances of finished products in the warehouse. Balances, receipts and consumption of products at actual cost, reflected in statement No. 16, are verified with similar data in the General Ledger under account 43 “Finished Products”.
At enterprises that use computer and organizational technology, accounting of finished products in the warehouse and in the accounting department is carried out on computers, with the help of which, based on the data of receipt and expenditure documents, the following are compiled: warehouse accounting cards in natural units of measurement; turnover statements movement of finished products in physical terms; turnover sheets of quantitative and total accounting of finished products in the warehouse; turnover statements for synthetic account 43 “Finished products” with a division of debit and credit turnover for corresponding accounts and subaccounts.
Analytical accounting for account 43 “Finished products” is carried out by storage locations and individual types of finished products.
Debit Account 43 “Finished products” Credit
Receipt of finished products |
Corresponding account |
Release (shipment) of finished products |
Corresponding account |
||
Balance - the balance of finished products in the warehouse at the beginning of the period |
Shipped products written off |
||||
Release of finished products: |
|||||
From main production |
Finished products destroyed and damaged due to emergency events |
||||
From auxiliary production |
A shortage of finished products was identified during inventory |
||||
The surplus identified during the inventory was capitalized |
|||||
Balance - the balance of finished products in the warehouse at the end of the period |
In accordance with the life cycle of finished products (release from production- release (shipment)) customers in accounting are allocated the following groups of accounting operations: accounting for release, accounting for shipment (release) and costs associated with sales.
BIBLIOGRAPHY
· tax code RF dated July 31, 1998 No. 146-FZ.
· Civil Code RF dated November 30, 1994 No. 51-FZ.
· Federal Law “On Accounting” dated November 21, 1996 No. 129-FZ.
· Regulations on accounting - Regulations on accounting and financial statements RF, approved by order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n. as amended by amendments and additions.
· Federal Law “On approval of guidelines for accounting of material and inventories": order of the Ministry of Finance of the Russian Federation: // SPS Consultant Plus: Legislation.
· Federal Law “On approval of guidelines for inventory of property and financial obligations": order of the Ministry of Finance of the Russian Federation: // SPS Consultant Plus: Legislation.
· Federal Law “On approval unified forms primary accounting documentation for accounting cash transactions, on accounting for inventory results": resolution of the State Statistics Committee of the Russian Federation: // SPS Consultant Plus: Legislation.
· Accounting Regulations “Accounting for Inventories”. PBU 5/01. Approved by order of the Ministry of Finance of the Russian Federation dated June 9, 2001 No. 44n as amended.
· Astakhov V.P. Accounting (financial) accounting: Tutorial/ - Rostov-on-Don: March, 2009.
· Babaev Yu.A. Financial accounting: Textbook for universities. / - M.: University textbook, 2009.
· Guseva T.M., Sheina T.N. Accounting: 2000 tests and answers: Study guide. / - M.: Prospekt. - 2009.
· Kozlova E.P. Accounting in organizations. // - M.: Finance and Statistics, 2009.
· Kondrakov N.P. Accounting: Textbook of Universities. / - M: Infra-M, 2008.
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Evaluation of finished products
Finished products in accounting can be assessed using one of the following methods:
at actual production or reduced cost;
according to the planned (standard) production cost;
at wholesale selling prices;
at free selling prices and tariffs including VAT;
at free market prices.
Grade at actual production cost involves accounting for the sum of all costs of products. Reduced cost accounting excludes general business expenses.
This method is convenient to use in enterprises with a limited range of serial products, when production and sales occur daily. The disadvantage of the method is the inaccuracy in determining production costs before the end of the reporting month.
Using planned (standard) production cost to evaluate finished products, deviations of the actual production cost for the reporting period from the accounting price are determined and separately taken into account, i.e. planned (standard) cost.
The advantage of this method is the unity of assessment in current accounting, planning and reporting. However, if the planned cost changes several times during the year, then it is necessary to re-evaluate the finished product, which is very labor-intensive. If we take into account commodity output at the average annual planned cost, then accounting prices do not change during the year, but the cost of finished and sold products in the plan will not correspond to monthly and quarterly reports.
When assessing at wholesale selling prices The difference between the actual cost and the wholesale sales price is taken into account separately. The advantages of this method occur at relatively stable wholesale prices. It makes it possible to compare product assessments in current accounting and reporting, which is important for monitoring the correct determination of the volume of commodity output.
Score by free selling prices and tariffs including VAT used when performing single orders and works. With this assessment option, it is necessary to separately take into account the amount of value added tax.
By free market prices finished products sold through retail network.
When using all of the listed methods for assessing finished products, with the exception of assessment based on actual production or reduced cost, it becomes necessary to calculate deviations of commodity output in accounting prices from its actual cost. This allows, regardless of the valuation method in current accounting, to determine the actual cost of goods sold produced in a given month, as well as its balances in warehouses at the end of the month.
The calculation is usually made using a weighted average percentage, calculated as the ratio of the actual cost of the balance of products produced in a given month to the cost of the same volume of products at accounting prices.
The weighted average ratio of the actual production cost to the cost of production at accounting prices is calculated using the formula:
K st = (p 1 *q 1 + p 2 *q 2 +...p n * q n)/(p 1 *k 1 + p 2 *k 2 +...p n * k n), where
p 1, p 2,...p n - the sum of the balance in the warehouse and the finished products received during the month (by type of product);
q - actual production cost of the balance and each group of incoming finished products;
k - accounting price of a unit of production
Finished products in the system tax accounting
The procedure for assessing finished products in the tax accounting system is established in clause 2 of Art. 319 Tax Code of the Russian Federation. Based on this paragraph, the assessment of the balances of finished products in the warehouse at the end of the current month is made by the taxpayer on the basis of data from primary accounting documents on the movement and balances of finished products in the warehouse (in quantitative terms) and the amount of direct expenses incurred in the current month, reduced by the amount of direct expenses related to WIP balances.
In connection with the adoption of Law N 58-FZ<8>Many organizations have been tempted to bring accounting and tax accounting of finished products closer together. First of all, this is due to the fact that, in accordance with Art. 318 of the Tax Code of the Russian Federation, the taxpayer independently determines accounting policy for tax purposes, a list of direct expenses associated with the production of goods (performance of work, provision of services).
However, despite the freedom of choice given to taxpayers regarding the determination of the composition of direct expenses, unfortunately, it is necessary to state the fact that, for many reasons, it is quite difficult to calculate the cost of sold and shipped products according to accounting data for tax purposes. What is the reason for this conclusion?
Composition of "tax" direct expenses:
similarities and differences with accounting
We considered two ways of forming the cost of production: at full production cost and at reduced cost (based on direct cost items). Let us recall that the use of one method or another depends on the method of distribution of general business expenses. When using the second method of valuing finished products at an enterprise, it may seem that in order to bring their accounting and tax values closer, you just need to provide in the accounting policy a clause stating that direct expenses for tax purposes are determined in a manner similar to that in accounting. However, in this case, you need to keep in mind that this formulation is only suitable for enterprises that do not have general production costs, since if they are present in accounting, part of the indirect costs will always be distributed among direct cost items. In this case, the accounting policy can indicate that direct expenses for tax purposes are determined in accordance with the list of costs accumulated in the corresponding accounting accounts (20, 23, 29, 25).
We have already talked about the contradictions in accounting legislation regarding the reflection of finished products at standard cost on account 40 “Output of products (works, services)”. But taking into account the requirements tax legislation New negative aspects of using this method of reflecting finished products arise. First of all, they are related to the fact that current edition Art. 319 of the Tax Code of the Russian Federation does not provide for a method for assessing finished products at standard cost. Secondly, according to Art. 318 of the Tax Code of the Russian Federation, direct expenses relate to the expenses of the current reporting (tax) period as products, works, and services are sold, in the cost of which they are taken into account. Thus, accounting for finished products at standard cost with writing off the difference between the actual and standard cost of production directly to expenses, that is, similar to the method that determines the use of account 40 “Output of products (works, services)” in accounting, is impossible for tax purposes.
Further, it should be noted that the accounting for certain expenses in accounting differs from the method of accepting these same expenses for tax purposes. Thus, in accounting, the amount differences arising when purchasing materials (works, services) are taken into account as part of expenses for common types activities (clause 6.6 PBU 10/99<9>) and, accordingly, participate in calculating the cost of finished product balances. For tax purposes, amount differences are included in non-operating expenses(Clause 5.1, Clause 1, Article 265 of the Tax Code of the Russian Federation) and do not participate in calculating the cost of finished product balances.
Also, deviations in the amount of expenses involved in calculating the cost of finished products in tax and accounting may arise as a result of:
Various formations initial cost fixed assets and the actual cost of inventories;
Application of different methods of calculating depreciation;
Different methods for recognizing labor costs (for example, compensation payments above the established standards);
Various orders recognition of deferred expenses as expenses of the reporting period, etc.
Another important difference that affects the determination of the cost of finished products in the warehouse is that Sec. 25 of the Tax Code of the Russian Federation does not provide for the use of FIFO and LIFO methods when writing off finished products from a warehouse, which, in turn, is permitted in accounting.
Calculation of the cost of finished product balances
The quantity of finished products remaining in the warehouse at the end of the month (K m.m.) is calculated by adding the quantity of finished products at the beginning of the month (K n.m.) and the number of finished products received at the warehouse (K), minus the quantity shipped products (K r.p.):
To k.m. = To n.m. + K - K r.p.
Then it is necessary to determine the amount of direct expenses that relate to the products produced per month (GP). It is calculated as follows:
GP = WIP n.m. + PR - WIP k.m.,
WIP n.m. and WIP k.m. - balances of work in progress at the beginning and end of the month, respectively;
PR - the amount of direct expenses incurred per month.
GP k.m. = K k.m. / (K n.m. + K) x (GP n.m. + GP),
GP n.m. - the cost of finished goods balances at the beginning of the month.
The cost of shipped finished products (GP r.p.) is determined by the formula:
GP r.p. = GP n.m. + GP - GP k.m.
Example 5. Based on the conditions of example 2, we calculate the value of finished product balances as of July 1 for tax purposes. In the calculation, we will proceed from the fact that the amount of direct tax expenses is equal to the reduced cost of manufactured products, calculated in accounting, and there are no work in progress balances.
To k.m. = 0 + 100 - 70 = 30 units.
GP = 0 + 650,000 - 0 = 650,000 rub.
GP k.m. = 30 / (0 + 100) x (0 + 650,000) = 195,000 rub.
GP r.p. = 0 + 650,000 - 195,000 = 455,000 rub.
From the calculations it is clear that the cost of finished products in the warehouse and the cost of sold products are calculated in the same amount as for accounting purposes.
If we assume that Aktiv LLC evaluates finished products in accounting at standard cost, but at the same time keeps records using account 40 “Output of products (works, services),” then tax accounting data will not coincide with accounting data.
Let's present the accounting and tax accounting data for finished products in the table:
FINISHED PRODUCTS |
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FINISHED PRODUCTS
The release of finished products is a key stage in the production activity of an enterprise, without which its main goal - making a profit - is impossible. Let us note that competent organization of accounting and tax accounting of finished products is of no small importance for the formation of financial results, and, consequently, the amount of profit that remains at the disposal of the organization.
Finished products in the accounting system
About cost classification
Since the time of the planned economy, costs have been divided:
1. By methods of inclusion in the cost: direct and indirect.
Direct costs are the costs associated with production individual species products (for raw materials, basic materials, wages of production workers, etc.), which can be directly and directly included in their cost.
Indirect costs cannot be attributed to the release of a specific product, since they are related to the operation of the enterprise as a whole.
2. According to the degree of dependence on the volume of production: into conditionally variable and conditionally constant.
Conditionally variable costs are understood as expenses, the value of which depends on the volume of production, and vice versa, conditionally constant costs are expenses, the volume of which does not depend on the scale of production.
At the same time, one of the classical approaches to grouping costs and calculating costs is that the composition of indirect costs is identified with the concept of semi-fixed costs. In accounting legislation, two options for accounting for semi-fixed expenses are based on this conclusion:
Inclusion in the cost of manufactured products through distribution;
Write-off to financial results without prior distribution as part of management expenses.
Direct expenses according to the Instructions for using the Chart of Accounts<1>are reflected during the month on accounts 20 “Main production”, 23 “Auxiliary production”, 29 “Service production and farms”.
Indirect costs for the maintenance of divisions of the main, auxiliary and service production, which relate to several types of manufactured products, are reflected in account 25 "General production expenses" and distributed at the end of the month to the debit of accounts 20 "Main production", 23 "Auxiliary production", 29 " Service industries and farms."
The organization establishes the basis for the distribution of general production costs independently. The following can be used as such a base: wages of workers engaged in the production of a certain type of product; the cost of materials used to produce a certain type of product; the total amount of direct costs associated with the production of each type of product; the total amount of revenue from the sale of each type of product. In any case, the chosen method must be fixed in the accounting policy of the enterprise. This approach to the distribution of overhead costs is based on considering semi-fixed costs as a component of the organization’s costs for production. Despite the fact that their size does not affect the volume of production, the main tasks of the enterprise (production and sale of products) cannot be accomplished without these costs. Thus, these costs must be taken into account as one of the elements of the cost of production. From the perspective of calculating the financial results of an organization, this means that part of these expenses is capitalized in the amounts of the assessment of work in progress (WIP) and balances of finished products at the end of the reporting period.
Indirect costs that are not directly related to the production process and are associated only with its organization and management as a whole are accounted for in account 26 " General running costs". The organization also establishes the procedure for writing off general business expenses independently and enshrines it in its accounting policies. It may be similar to the procedure for distributing general production costs, however, the Instructions for using the Chart of Accounts provide another way to write off general business expenses: crediting them as semi-fixed costs to the debit of account 90 “Sales” without prior distribution.
According to this approach, the amount of semi-fixed costs does not depend on the volume of production; moreover, these costs occur even if the enterprise does not produce products at all. Therefore, they must be written off in the reporting period in which they arose. In foreign accounting, this method of writing off general business expenses is called “direct costing”.
Please note: in accounting legislation, the write-off of expenses at the end of the month to account 90 “Sales” is provided only for general business expenses. Thus, in calculating the cost of work in progress and finished products in the warehouse, a part of indirect costs is always involved in the form of overhead costs, recorded in account 25 “Overhead production expenses” and distributed at the end of the month to the direct expense accounts. (When we consider the procedure for assessing finished products for tax accounting purposes, we will return to this issue.)
The choice of one or another procedure for writing off general business expenses determines the method of forming the cost of production at the enterprise. So, if general business expenses in accordance with accounting policy enterprises are subject to distribution, then finished products are accounted for at full production cost. If general business expenses are written off using the direct costing method, then finished products are accounted for at reduced cost.
For reference: when organizing accounting at reduced cost in the Profit and Loss Statement (Form No. 2)<2>the amount of general business expenses is reflected separately in the line “Administrative expenses”, and in the line “Cost of goods sold, products, works, services” the amount of production costs is shown without taking into account the latter. When calculating the cost of a unit of production at the full production cost, all costs (direct and indirect) are reflected in the line “Cost of goods, products, works, services sold.” In this case, the indicator in the line “Administrative expenses” is missing.
Options for evaluating finished products
In accordance with PBU 5/01<3>finished products are part of inventories (hereinafter referred to as inventories). Clause 5 of PBU 5/01 stipulates that inventories are accepted for accounting at actual cost. However, clause 59 of the Regulations on accounting and financial reporting in the Russian Federation<4>it is stipulated that in balance sheet finished products are reflected at actual or standard (planned) production costs. You can determine the standard cost:
For costs associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources, and other costs of production in the production process;
For direct cost items.
<3>Accounting Regulations “Accounting for Inventories” PBU 5/01, approved. By Order of the Ministry of Finance of Russia dated 06/09/2001 N 44n.
<4>Regulations on accounting and financial reporting in Russian Federation, approved By Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n.
Thus, each of these methods (calculation at actual or standard cost) involves accounting either at full production cost or at reduced cost. In the accounting policy of the enterprise, it is necessary to consolidate one of these two methods of assessing finished products.
Similar requirements are contained in paragraph 203 of the Guidelines<5>regarding the assessment of balances of finished products in the warehouse (in other storage locations) in the analytical and synthetic accounting of the organization.
<5>Guidelines for accounting of inventories, approved. By Order of the Ministry of Finance of Russia dated December 28, 2001 N 119n.
Please note: finished products can be valued at standard production costs if the cost of work in progress, in accordance with the organization’s accounting policies, is valued at standard production costs.
Selecting accounting prices for manufactured products
Please note: paragraph 204 of the Methodological Instructions states that in analytical accounting and storage areas of finished products, the enterprise is allowed to use discount prices. The following can be used as accounting prices:
Actual production cost;
Standard cost;
Negotiated prices;
Other types of prices.
Thus, the organization has the right to establish in its accounting policy the procedure for applying any of the proposed accounting prices. However, it should be borne in mind that the use of accounting prices other than actual or standard production costs is permitted only in analytical accounting.
The actual production cost as the accounting price of products is used, as a rule, for single and small-scale production, as well as for production small range products. The standard cost price is used as an accounting price in industries with a mass and serial nature of production and when producing a large range of finished products.
Contract prices can be used as a reference price provided they are stable.
M.O. Denisova Editor of the magazine "Topical Issues of Accounting and Taxation"
"Current issues of accounting and taxation"
ACCOUNTING FOR THE COST OF FINISHED PRODUCTS
Finished products are part of inventories intended for sale, and their accounting is carried out in accordance with the Accounting Regulations “Accounting for inventories” PBU 5/01, approved by Order of the Ministry of Finance of Russia dated 06/09/2001 N 44n (hereinafter - PBU 5/01), and Methodological guidelines for accounting of inventories, approved by Order of the Ministry of Finance of Russia dated December 28, 2001 N 119n.
Organizations carrying out industrial, agricultural and other production activities keep records of finished products in account 43 “Finished products”.
Clause 59 of the Regulations on accounting and financial reporting in the Russian Federation, approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n, establishes the following methods for assessing finished products:
- at actual production cost;
- standard (planned) production cost, including costs associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources, and other costs of production in the production process;
- standard (planned) production cost, which is determined by the amount of direct costs.
If finished products are accounted for at actual production costs, their arrival at the warehouse is reflected as follows:
Debit 43 Credit 20 “Main production” - for the amount of actual costs for manufacturing products.
The actual cost of manufactured products can be formed only at the end of the reporting month, when all costs of production, both direct and indirect, have been determined. Therefore, when using this method, it is almost impossible to determine the cost of products as they are produced and transferred to the warehouse of finished products, which creates additional inconvenience if products manufactured within a month are sold in the same period.
With this method of accounting, the cost at which products of the same type, manufactured at different times, are accepted for accounting may be different. When selling or otherwise disposing of finished products, they should be written off:
- at unit cost;
- By average cost;
- using the FIFO method;
- using the LIFO method.
If accounting for finished products is carried out at standard (planned) production costs, the organization sets accounting prices for products that remain constant for quite a long time and at which the products are delivered to the warehouse within a month and written off from the warehouse upon its sale or other disposal. At the end of the month, when all costs have been generated and the amount of work in progress has been determined, the difference between the planned and actual costs is determined. You can keep records of these deviations in two ways - with and without the use of account 40 “Output of products (works, services)”.
1. If account 40 is not used, the following entries are made during the month:
Debit 43 Credit 20 - products were accepted into the warehouse at planned prices;
Debit 90 "Sales", subaccount 2 "Cost of sales" Credit 43 - upon sale, products are written off at accounting prices.
At the end of the month, the actual cost of production is determined and the amount of deviations of the actual cost from the planned one is reflected in the same accounts with additional entries if the actual cost exceeds the planned one, or reversal entries if the actual cost is less than the planned one. At the same time, adjustments are made to the cost of products accepted for accounting for the entire amount of the deviation and the cost of products sold - in the share attributable to products sold.
Example 1. During the month, finished products were accepted for accounting at the warehouse, the planned cost of which is 75,000 rubles. The cost of products sold at planned prices is 50,000 rubles. total amount expenses recorded in the debit of account 20 during the month are 90,000 rubles.
1. The balance of work in progress at the end of the month is 18,000 rubles.
90,000 - 18,000 = 72,000 rub.
75,000 - 72,000 = 3,000 rubles.
The actual cost is less than the planned cost, so the amount of savings must be reversed.
50,000 - 2000 = 48,000 rub.
72,000 - 48,000 = 24,000 rub.
The following entries are made in accounting:
- within a month
Debit 43 Credit 20 - finished products are accepted for accounting at accounting prices - 75,000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 43 - the cost of products sold at accounting prices is written off - 50,000 rubles;
- in the end of the month
Debit 20 Credit 10 "Materials", 70 "Settlements with personnel for wages", 69 "Settlements for social insurance and provision", 25 "General production expenses", 26 "General business expenses" - costs for production are taken into account - 90,000 rubles;
Debit 43 Credit 20 - Reversal! The amount of deviation of the actual cost from the planned cost is 3,000 rubles.
Debit 90, subaccount 2 “Cost of sales” Credit 43 - reversed! The amount of deviation of the actual cost from the planned one in the share of products sold is 2000 rubles.
2. The balance of work in progress at the end of the month is 12,000 rubles.
Actual cost of finished products:
90,000 - 12,000 = 78,000 rub.
The amount of deviation of the actual cost from the planned one:
78,000 - 75,000 = 3,000 rubles.
The actual cost is higher than the planned cost, so additional entries need to be made for the amount of overrun.
The amount of variance attributable to products sold:
(3000: 75,000) x 50,000 = 2000 rub.
The amount of deviation attributable to the balance of finished products in the warehouse:
(3000: 75,000) x 25,000 = 1000 rub.
Actual cost of goods sold:
50,000 + 2000 = 52,000 rub.
Balance of finished products in warehouse (at actual cost):
78,000 - 52,000 = 26,000 rub.
During the month, these transactions are reflected in accounting prices:
Debit 43 Credit 20 - finished products accepted for accounting - 75,000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 43 - cost of goods sold is written off - 50,000 rubles;
at the end of the month the overexpenditure is reflected:
Debit 20 Credit 10, 70, 69, 25, 26 - production costs are taken into account - 90,000 rubles;
Debit 43 Credit 20 - reflects the amount of deviation of the actual cost from the planned one - 3000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 43 - reflects the amount of deviation of the actual cost from the planned one in the share of products sold - 2000 rubles.
The above method is a simplified version of calculating deviations, since in this case there was no balance of finished products at the beginning of the month.
In cases where there are balances of finished products at the beginning and end of the month, in order to correctly reflect and distribute deviations, it is advisable to use the calculation method, the principle of which is specified in clause 206 of the Guidelines for accounting of inventories, approved by Order of the Ministry of Finance of Russia dated December 28. 2001 N 119n. Thus, if accounting for finished products is carried out at standard cost or at contract prices, the difference between the actual cost and the cost of finished products at accounting prices is reflected in the subaccount “Deviations of the actual cost of finished products from the accounting cost” of account 43. Deviations are taken into account by item or individual groups of finished products, or for the organization as a whole. The excess of the actual cost over the accounting value is shown in the debit of the specified subaccount and the credit of the cost accounting accounts. If the actual cost is lower than the book value, the difference is reflected in a reversal entry.
Write-off of finished products (during shipment, release, etc.) can be carried out at book value. At the same time, deviations related to finished products sold are written off to sales accounts (determined in proportion to their accounting value). Deviations related to the balances of finished products remain in the subaccount “Deviations of the actual cost of finished products from the accounting value” of account 43.
Regardless of the method used to determine accounting prices, the total cost of finished goods (accounting cost plus variances) must equal the actual production cost of those products.
Example 2. The balance of finished products in the warehouse at the beginning of the month is 60,000 rubles. at planned prices, the amount of deviations is 5,000 rubles. (overspending). Within a month, products at planned prices in the amount of 200,000 rubles were accepted for accounting at the warehouse. The amount of production costs recorded on account 20 amounted to 280,000 rubles, the balance of work in progress - 70,000 rubles. The planned cost of goods sold is 230,000 rubles.
Actual cost of finished products:
280,000 - 70,000 = 210,000 rub.
Amount of deviations for products transferred to the warehouse:
210,000 - 200,000 = 10,000 rubles.
Percentage of deviations for shipped products:
(5000 + 10,000): (60,000 + 200,000) x 100% = 5.77%.
Amount of deviations attributable to shipped products:
230,000 x 5.77% = 13,271 rubles.
Actual cost of shipped products:
230,000 + 13,271 = 243,271 rubles.
Balance of finished products at the end of the month at actual cost:
(60,000 + 5000) + (200,000 + 10,000) - (230,000 + 13,271) = 31,729 rubles,
including planned cost:
60,000 + 200,000 - 230,000 = 30,000 rubles;
amount of deviations:
5000 + 10,000 - 13,271 = 1,729 rubles.
The following entries are made in the organization's accounting:
Debit 43 Credit 20 - products were accepted for accounting at planned cost - 200,000 rubles;
Debit 43 Credit 20 - reflects the deviation of the actual cost from the planned one (for finished products accepted for accounting) - 10,000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 43 - the planned cost of shipped products was written off - 230,000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 43 - the deviation of the actual cost from the planned one (for shipped products) is written off - 13,271 rubles.
2. For convenience and clarity of identifying deviations of the actual cost from the planned one, account 40 is used.
In this case, the debit of account 40 takes into account the actual production cost of products in correspondence with the production cost accounts; the credit of account 40 reflects the planned cost of finished products, which is written off to the debit of account 43. At the end of the month, when the actual cost of production is fully formed, by comparison debit and credit turnover of account 40 is determined by the amount of deviations of the actual cost from the planned one. Instructions for using the Chart of Accounts are provided next order write-off of deviation amounts.
If the credit turnover on account 40 is greater than the debit turnover, i.e. the actual cost is less than the planned cost and savings are identified, a reversal entry is made for the amount of the deviation:
Debit 90, subaccount 2 “Cost of sales” Credit 40 - Reversal! Savings reflected.
If the debit turnover on account 40 is greater than the credit turnover, i.e. The actual cost exceeds the planned cost, the overrun is reflected as follows:
Debit 90, subaccount 2 “Cost of sales” Credit 40 - overexpenditure is reflected.
Thus, account 40 is closed monthly and there is no balance on this account.
Note! The amounts of deviations are written off to account 90 in full, regardless of the volume of product sales, and thus increase or decrease the cost of products sold in the reporting period.
The balance of finished products in the warehouse in this case is taken into account at the planned cost.
Example 3. The balance of finished products in the warehouse at the beginning of the month is 60,000 rubles. at planned prices. Within a month, products at planned prices in the amount of 200,000 rubles were accepted for accounting at the warehouse. The amount of production costs recorded on account 20 amounted to 280,000 rubles, the balance of work in progress - 70,000 rubles. The planned cost of goods sold is 230,000 rubles.
These transactions are reflected in accounting as follows:
Debit 20 Credit 10, 70, 69, 25, 26 - expenses of the current period are taken into account - 280,000 rubles;
Debit 40 Credit 20 - reflects the actual production cost of finished products - 210,000 rubles. (280,000 - 70,000);
Debit 43 Credit 40 - finished products are accepted for accounting at planned cost - 200,000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 43 - the planned cost of goods sold is written off - 230,000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 40 - the amount of the identified deviation (overspend) is included in the cost of goods sold - 10,000 rubles. (210,000 - 200,000).
The balance of finished products in the warehouse at planned prices:
60,000 + 200,000 - 230,000 = 30,000 rub.
3. In the case when finished products are sold directly from the workshop (direct sales), it is possible to keep records of finished products without using accounts 40 and 43. In this case, the cost of production is written off directly from the credit of account 20 to the debit of account 90, subaccount 2 “Cost of sales”.
This entry is made at the end of the reporting period, when the actual cost of finished products is determined.
Example 4. Costs recorded during the month on account 20 amounted to 250,000 rubles. The balance of work in progress is 80,000 rubles. All finished products were sold in the same month.
The following entries are made in accounting:
Debit 20 Credit 10, 70, 69, 25, 26 - costs of production are reflected - 250,000 rubles;
Debit 90, subaccount 2 “Cost of sales” Credit 20 - the actual production cost of sold finished products is written off - 170,000 rubles. (250,000 - 80,000).
It should be noted that this method is convenient for use only in cases where all products produced in the reporting period were sold during the same period. Otherwise, there is a need to account for unsold finished products as part of work in progress on account 20.
N.A. Belyaeva
Tax consultant
JSC "BKR-Intercom-Audit"
Based on materials from the magazine “Modern Accounting”
ACCOUNTING FOR FINISHED PRODUCTS AND ITS SALES
Finished products are part of the organization's inventories intended for sale. It represents the final result of the production cycle, assets completed by processing (assembly), technical and quality characteristics which comply with the terms of the contract or the requirements of other documents in cases established by law.
There is a distinction between the balance sheet valuation of finished products and the valuation by which the products are reflected in current (analytical) accounting. In current accounting, finished products can be assessed:
at actual production cost. With this method, finished products are taken into account in the amount of all costs associated with their production. This is a more accurate and therefore more labor-intensive method, used mainly in single and small-scale production, as well as in the production of mass products of a small range;
at standard (planned) production costs. The most common method of assessment, which involves the use of norms, standards, and cost estimates specially developed by the organization, on the basis of which a standard calculation of product costs is compiled; With this accounting option, there is a need for separate accounting of deviations of the actual production cost of finished products from the cost at accounting (planned) prices. Deviation from the norm is considered to be both savings and additional expense raw materials, materials, wages and other production costs. Deviations are taken into account in the same accounts as finished products;
at sales prices and tariffs(excluding value added tax). Sales prices may be regulated or free. Regulated prices - prices regulated by the state; free (market) prices - prices set by the organization in agreement with consumers based on market conditions, quality and consumer properties of products;
for direct items of expenses (reduced cost). With this method of assessment, general business expenses are not taken into account, which are not included in the cost of finished products, but are charged directly to the sales account.
In the balance sheet, finished products can be reflected at actual or standard (planned) production costs or at direct cost items.
The valuation of finished products at which they are accounted for in current accounting does not necessarily have to coincide with their balance sheet valuation. Thus, products valued in the balance sheet at actual cost can be valued in current accounting:
1) at actual cost (which is used extremely rarely, mainly in individual production);
2) at accounting prices (planned cost, selling prices, etc.).
Accounting for finished products at accounting prices and accounting for deviations is organized in this case on separate subaccounts of the finished products accounting account. Regardless of the method for determining accounting prices, the total cost of finished products (accounting cost plus variances) must equal the actual production cost of these products.
Products valued in the balance sheet at standard (planned) cost are also reflected in current accounting at planned cost, but without separately taking into account deviations in analytical accounting. Deviations are identified at the level of synthetic accounting on specially designated account 40 “Output of products (works, services).”
Evaluation of finished products
Finished products in accounting can be assessed using one of the following methods:
at actual production or reduced cost;
according to the planned (standard) production cost;
at wholesale selling prices;
at free selling prices and tariffs including VAT;
at free market prices.
Grade at actual production cost involves accounting for the sum of all costs of products. Reduced cost accounting excludes general business expenses.
This method is convenient to use in enterprises with a limited range of serial products, when production and sales occur daily. The disadvantage of the method is the inaccuracy in determining production costs before the end of the reporting month.
Using planned (standard) production cost to evaluate finished products, deviations of the actual production cost for the reporting period from the accounting price are determined and separately taken into account, i.e. planned (standard) cost.
The advantage of this method is the unity of assessment in current accounting, planning and reporting. However, if the planned cost changes several times during the year, then it is necessary to re-evaluate the finished product, which is very labor-intensive. If we take into account commodity output at the average annual planned cost, then accounting prices do not change during the year, but the cost of finished and sold products in the plan will not correspond to monthly and quarterly reports.
When assessing at wholesale selling prices The difference between the actual cost and the wholesale sales price is taken into account separately. The advantages of this method occur at relatively stable wholesale prices. It makes it possible to compare product assessments in current accounting and reporting, which is important for monitoring the correct determination of the volume of commodity output.
Score by free selling prices and tariffs including VAT used when performing single orders and works. With this assessment option, it is necessary to separately take into account the amount of value added tax.
By free market prices finished products sold through the retail network are evaluated.
When using all of the listed methods for assessing finished products, with the exception of assessment based on actual production or reduced cost, it becomes necessary to calculate deviations of commodity output in accounting prices from its actual cost. This allows, regardless of the valuation method in current accounting, to determine the actual cost of goods sold produced in a given month, as well as its balances in warehouses at the end of the month.
The calculation is usually made using a weighted average percentage, calculated as the ratio of the actual cost of the balance of products produced in a given month to the cost of the same volume of products at accounting prices.
The weighted average ratio of the actual production cost to the cost of production at accounting prices is calculated using the formula:
K st = (p 1 *q 1 + p 2 *q 2 +...p n * q n)/(p 1 *k 1 + p 2 *k 2 +...p n * k n), where
p 1, p 2,...p n - the sum of the balance in the warehouse and the finished products received during the month (by type of product);
q - actual production cost of the balance and each group of incoming finished products;
k - accounting price of a unit of production
2007.01.30 - Heading: Production accounting - Finished products, their evaluation and accounting - | discuss on forum |
Finished products in the tax accounting system
The procedure for assessing finished products in the tax accounting system is established in clause 2 of Art. 319 Tax Code of the Russian Federation. Based on this paragraph, the assessment of the balances of finished products in the warehouse at the end of the current month is made by the taxpayer on the basis of data from primary accounting documents on the movement and balances of finished products in the warehouse (in quantitative terms) and the amount of direct expenses incurred in the current month, reduced by the amount of direct expenses related to WIP balances.
In connection with the adoption of Law N 58-FZ<8>Many organizations have been tempted to bring accounting and tax accounting of finished products closer together. First of all, this is due to the fact that, in accordance with Art. 318 of the Tax Code of the Russian Federation, the taxpayer independently determines in the accounting policy for tax purposes a list of direct expenses associated with the production of goods (performance of work, provision of services).
However, despite the freedom of choice given to taxpayers regarding the determination of the composition of direct expenses, unfortunately, it is necessary to state the fact that, for many reasons, it is quite difficult to calculate the cost of sold and shipped products according to accounting data for tax purposes. What is the reason for this conclusion?
Composition of "tax" direct expenses:
similarities and differences with accounting
We considered two ways of forming the cost of production: at full production cost and at reduced cost (based on direct cost items). Let us recall that the use of one method or another depends on the method of distribution of general business expenses. When using the second method of valuing finished products at an enterprise, it may seem that in order to bring their accounting and tax values closer, you just need to provide in the accounting policy a clause stating that direct expenses for tax purposes are determined in a manner similar to that in accounting. However, in this case, you need to keep in mind that this formulation is only suitable for enterprises that do not have general production costs, since if they are present in accounting, part of the indirect costs will always be distributed among direct cost items. In this case, the accounting policy can indicate that direct expenses for tax purposes are determined in accordance with the list of costs accumulated in the corresponding accounting accounts (20, 23, 29, 25).
We have already talked about the contradictions in accounting legislation regarding the reflection of finished products at standard cost on account 40 “Output of products (works, services)”. But taking into account the requirements of tax legislation, new negative aspects of using this method of reflecting finished products arise. First of all, they are related to the fact that in the current version of Art. 319 of the Tax Code of the Russian Federation does not provide for a method for assessing finished products at standard cost. Secondly, according to Art. 318 of the Tax Code of the Russian Federation, direct expenses relate to the expenses of the current reporting (tax) period as products, works, and services are sold, in the cost of which they are taken into account. Thus, accounting for finished products at standard cost with writing off the difference between the actual and standard cost of production directly to expenses, that is, similar to the method that determines the use of account 40 “Output of products (works, services)” in accounting, is impossible for tax purposes.
Further, it should be noted that the accounting for certain expenses in accounting differs from the method of accepting these same expenses for tax purposes. Thus, in accounting, the amount differences arising during the acquisition of materials (work, services) are taken into account as expenses for ordinary activities (clause 6.6 of PBU 10/99<9>) and, accordingly, participate in calculating the cost of finished product balances. For tax purposes, amount differences are included in non-operating expenses (clause 5.1, clause 1, article 265 of the Tax Code of the Russian Federation) and do not participate in calculating the value of finished product balances.
Also, deviations in the amount of expenses involved in calculating the cost of finished products in tax and accounting may arise as a result of:
Different formation of the initial cost of fixed assets and the actual cost of inventories;
Application of different methods of calculating depreciation;
Various methods for recognizing labor costs (for example, compensation payments in excess of established standards);
Different procedures for recognizing deferred expenses as expenses of the reporting period, etc.
Another important difference that affects the determination of the cost of finished products in the warehouse is that Sec. 25 of the Tax Code of the Russian Federation does not provide for the use of FIFO and LIFO methods when writing off finished products from a warehouse, which, in turn, is permitted in accounting.
Calculation of the cost of finished product balances
The quantity of finished products remaining in the warehouse at the end of the month (K m.m.) is calculated by adding the quantity of finished products at the beginning of the month (K n.m.) and the number of finished products received at the warehouse (K), minus the quantity shipped products (K r.p.):
To k.m. = To n.m. + K - K r.p.
In accordance with PBU 5/01 "Accounting for inventories", finished products of a production organization are inventories intended for sale. Clause 5 of PBU 5/01 establishes that inventories are accepted for accounting at actual production costs.
And all finished products can be reflected in accounting in one of three ways:
1) At actual production cost.
This cost is formed entirely on account 20 (“Main production”) and represents the sum of all costs associated with the manufacture of this product, or the valuation of those used in the process of its production natural resources, raw materials, materials, fuel, energy, fixed assets, labor resources and so on. This assessment of finished products is used, as a rule, in individual and small-scale production. This accounting option can also be used when producing a small range of products.
If the manufacturing organization decides to account for finished products at actual cost, then in this case, accounting for finished products will be carried out only using account 43 “Finished products”.
When accounting for finished products at actual cost, the receipt of the latter into the warehouse is reflected by the following posting: Dt 43 “Finished products” - Kt 20 “Main production” (finished products received from the main production shops to the warehouse are capitalized)
Despite the fact that it is easier to reflect finished products at actual cost in accounting (one account is used), organizations do not often use this method. The actual cost of manufactured products can be formed only at the end of the reporting month, when all costs of production, both direct and indirect, have been determined. (In accordance with Article 318 of the Tax Code of the Russian Federation, direct costs include - costs for the acquisition of raw materials and materials used in the production of goods (performance of work, provision of services); labor costs, depreciation deductions for fixed assets directly used in the production of goods, works, and services. Indirect expenses include all other amounts of expenses, with the exception of non-operating expenses determined in accordance with Article 265 of this Code, incurred by the taxpayer during the reporting (tax) period.) Therefore, when using this method, it is almost impossible to determine the cost of products as they are produced and transferred to the warehouse, which creates additional inconvenience if products manufactured within a month are sold in the same period. With this method of accounting, the cost at which products of the same type, manufactured at different times, are accepted for accounting may be different. Therefore, when selling or otherwise disposing of finished products, they must be written off in one of the following ways:
- · at unit cost;
- · at average cost;
- · using the FIFO method;
- 2) According to the standard (planned) production cost - the deviations of the actual production cost are determined and separately taken into account the reporting month from the planned (normative) CC (deviations are detected at count 40);
This assessment option is used in industries with a mass and serial nature of production with a large range of products. Industrial organizations The food industry, as a rule, uses the standard method of accounting for finished products, since it is its use that allows the revenue from the sale of products and its actual cost (which is determined only at the end of the month) to be correctly reflected in accounting.
Finished products are accounted for in account 43 “Finished products” at standard cost, which is established by the organization itself. The actual cost of finished products with this accounting method is formed on account 20 “Main production”.
If finished products are accounted for at standard (planned) production costs, then the organization sets accounting prices for products that remain constant for quite a long time and at which, within a month, products are accepted into the warehouse and written off from the warehouse when they are sold or otherwise disposed of. . At the end of the month, when all costs have been generated and the amount of work in progress has been determined, the difference between the planned and actual costs is determined. To determine the deviation, use account 40 “Output of products (works, services)”
In this case, the debit of account 40 “Output of products (works, services)” takes into account the actual production cost of finished products in correspondence with the production cost accounts; the credit of account 40 “Output of products (works, services)” reflects the standard (planned) cost finished products, which are written off to the debit of account 43 “Finished products”. At the end of the month, when the actual cost of production is fully formed, by comparing the debit and credit turnover of account 40 “Output of products (works, services)”, the amount of deviations of the actual cost from the planned one is determined, which is written off to the debit of account 90 “Sales”.
The chart of accounts provides for the following procedure for writing off deviation amounts:
- · If the credit turnover on account 40 “Output of products (works, services)” is greater than the debit turnover, that is, the actual cost is less than the planned one and savings are identified, then a deviation is made for the amount accounting entry, carried out using the “red reversal” method: Dt 90 “Sales” subaccount “Cost of sales” - Kt 40 “Output of products (works, services)”.
- · If the debit turnover in account 40 “Output of products (works, services)” is greater than the credit one, that is, the actual cost exceeds the planned one (overexpenditure), the usual accounting entry is made for the amount of the deviation: Dt 90 “Sales” subaccount “Cost of sales” - Kt 40 “Release of products (works, services).”
Thus, account 40 “Output of products (works, services)” is closed monthly and there is no balance on this account.
The amounts of deviations are written off to account 90 “Sales” in full, regardless of the volume of product sales and thus increase or decrease the cost of products sold in the reporting period. The balance of finished products in the warehouse in this case is taken into account at the planned cost.
Problem on standard (planned) production cost Appendix 1.
3) At incomplete (reduced) production cost. - The cost of Finished Products is determined based on actual costs without taking into account general business expenses (direct costing method).
The cost of finished products is determined based on actual costs, but without taking into account general business expenses (account 26).
Account 26 “general business expenses” is intended to summarize information about expenses for management needs not directly related to the production process. The following expenses may be reflected in this account: administrative and management expenses; maintenance of general business personnel not related to the production process; rent for general utility premises. Expenses recorded on account 26 "General business expenses" are written off, in particular, to the debit of accounts 20 "Main production", 23 "Auxiliary production" (if auxiliary production produced products and work and provided services to the outside), 29 "Service production and farms" (if servicing industries and farms performed work and services outsourced). These expenses can be written off as semi-fixed expenses to the debit of account 90 “Sales”.
The chosen method of accounting for finished products is reflected in the accounting policy of the organization.
When keeping records of finished products at actual cost in analytical accounting, accounting prices established by the organization itself can be used.
accounting finished products cost