Tmz decoding in accounting what applies. The concept of inventory. Classification of inventories. Groups of current assets

MINISTRY OF EDUCATION AND SCIENCE OF THE REPUBLIC OF KAZAKHSTAN

KOSTANAY AGRICULTURAL COLLEGE

TECHNICAL AND ECONOMIC DEPARTMENT

COURSE WORK

Subject "Accounting"

Topic: "Accounting for commodity- inventories»

Artist: Kazenova Sarah

Group B student - 31

Head: Amelina L.E.

Zatobolsk, 2010

Introduction

Main task manufacturing enterprises is the production of products that are partly used at the enterprise itself, but mainly sold to other enterprises, organizations and directly to the public.

For the organization of production, means of labor, objects of labor and labor power are necessary. Means and objects of labor are acquired from outside or produced by the enterprise itself. The labor force is the workers and specialists accepted by the enterprise by order or on a contract basis.

Enterprises sell their products, receiving income from the sale. If these incomes exceed the costs of their production, then they receive a profit that is created in the production process and is revealed in the process of implementation. If the revenue is less than the costs incurred, then there is a loss. The circulation of funds occurs continuously and consists of the main business processes: supply, production and sale, as a result of which objects of labor pass from one form to another.

To organize the successful and continuous operation of the enterprise, it is necessary to have production reserves, which are provided to the enterprise in the procurement process.

The procurement process is a set of operations to provide the enterprise with the objects of labor necessary for the manufacture of products. The company purchases materials, fuel and other items of labor from suppliers.

The enterprise pays suppliers for the cost of purchased items at selling prices, which for it are the purchase or procurement cost. In addition, it bears the costs caused by procurement operations, for example, the costs of paying for the transportation of acquired valuables, their loading and unloading, delivery from railway stations (piers, etc.) to a warehouse, and a number of others. All these costs are called transportation costs.

Therefore, the main tasks of accounting for the procurement process are:

1) identification of all procurement costs;

2) determination of the actual cost of prepared materials.

Movement material assets reflected in accounting at actual cost. The actual cost of acquired material assets consists of the purchase price and transport and procurement costs. The volume of the procurement process, expressed in natural terms, is accounted for in analytical accounts, and in monetary terms - in active synthetic accounts.

The debit of these synthetic accounts takes into account the purchase value of the purchased items, as well as transport and procurement costs for their delivery.

Inventories are assets that:

a) are held for sale on the condition ordinary activities;

b) are in the process of being produced for sale;

c) exist in the form of basic or auxiliary materials intended for use in the production process or in the performance of works and services.

At the time of the inventory, goods for which the company does not have ownership rights may be identified. These are goods prepared according to the client's order, paid for by him (ie the act of purchase and sale is completed), belonging to him and awaiting shipment. It is necessary to fix their implementation. Another category of goods that are not included in inventories are goods on consignment.

Consignment is the placement by the owner, who is called the committent or consignee, of his goods in the warehouses of another company. The consignee should not include such goods in his inventories, since until the moment of sale these goods are the property of the consignor.

Inventories are valued at the lower cost and net worth implementation.

1. Farm characteristics

Under IFRS 2, inventories must be measured at the lower of cost and net realizable value.

The cost of inventory includes all acquisition costs, processing costs and other costs incurred to bring inventory to its present location. Acquisition costs, in accordance with SBU 7 “Inventory Accounting”, include the purchase price, import duties, commissions paid to supply organizations, transportation and procurement costs and other costs directly related to the acquisition of inventories (trade discounts , refunds of overpayments and other similar adjustments are deducted when determining the acquisition costs).

In accordance with paragraph 4 of AAS 7, the net realizable value of inventory is equal to the estimated selling price in the ordinary course of business minus the cost of picking and arranging the sale. In other words (in accordance with paragraph 25 of IFRS 2), materials are measured at net realizable value if the cost of inventories may not be recoverable, because inventories are damaged, wholly or partly obsolete and therefore their price has decreased, and the estimated cost of pre-sale preparation or implementation of the sale may also increase. In this case, the carrying amount of inventories will not exceed the amount expected to be received from the sale or use of inventories.

Materials at the time of acquisition are reflected at the actual cost of their acquisition (in synthetic accounting) or accounting prices (in analytical accounting).

The actual cost of purchasing materials is the sum of the purchase price and the costs of procurement and delivery of these stocks by the entity.

When accounting for materials at accounting prices (planned cost of acquisition, average purchase prices, etc.), the difference between the cost of inventory at accounting prices and the actual cost of acquiring inventory is calculated on the same account.

Accounting for materials in the balance sheet is shown at actual cost, according to the same estimate, they are taken into account in synthetic accounting, and in analytical accounting - at fixed accounting prices (contractual or planned - estimated).

If the accounting of materials is organized at contractual prices, then their actual cost is made up of the amount of materials at these prices plus transport and procurement costs (TZR). If materials are accounted for at the planned cost of acquisition, then the actual cost of inventory will be the sum of the cost of materials at these prices, plus or minus the deviations of the actual cost from the cost at accounting prices. Planning and settlement prices are developed by the entity itself on the basis of contractual prices, taking into account the planned size of the TZR.

When determining the cost of materials released into production, the valuation methods recommended by SBU 7 “Inventory Accounting” and IFRS 2 “Inventories” can be used:

Stocks are recorded on account 1300 "Stocks"

No. p / p	Accounts (IFRS - 2)	Account name	Analytics
1	1310	"Raw materials"	By storage locations
2	1311	"Materials"	By storage locations
3	1312	"Purchased semi-finished products and components"	By storage locations
4	1313	"Fuel"	By storage locations
5	1314	"Container and container materials"	By storage locations
6	1315	"Spare parts"	By storage locations
7	1316	"Other materials"	By storage locations
8	1317	"Materials transferred for processing"	By storage locations
9	1318	"Building materials and others"	By storage locations
10	1320	"Finished products"	By storage locations
11	1330	"Goods"	By storage locations
12	1340	"Unfinished production"	By orders, objects
13	1350	"Other stocks"	By storage locations
14	1360	"Reserve for inventory write-off"

2. Accounting for inventory

2.1 Inventories, their classification and evaluation

Inventories are assets in the form of:

a) stocks of raw materials, materials, purchased semi-finished products and components, fuel, packaging and packaging materials, spare parts and other materials intended for use in production or in the performance of works and services;

b) work in progress;

V) finished products, goods intended for sale during the course of the entity's activities.

Accounting for inventory items faces the following tasks: control over the timely and complete posting of valuables, their safety in places of their storage, timely and complete documentation of all transactions for the movement of valuables, timely and correct determination of transport and procurement costs and the actual cost of prepared valuables, control for the uniform and correct write-off of TZR for production costs; control over the state of warehouse stocks, identification and sale of material values unnecessary to the enterprise in order to mobilize internal resources, obtaining accurate information about the balances and movement of valuables in places of their storage.

By functional role and purpose in the production process, all material values are divided into basic and auxiliary.

Basic - these are materials that are materially included in the manufactured products, forming its material basis (flour when baking bread)

In the process of production, along with the means of labor, objects of labor participate, which act as production stocks. Unlike means of labor, objects of labor participate in the production process only once and their value is fully included in the cost of production, constituting its material basis.

Accounting for inventory items at enterprises is organized in accordance with the standard accounting No. 7 “Accounting for inventories”, which defines the scope of the standard, changes in inventories, their cost and valuation, recognition of expenses, disclosure in reporting. This Standard is applied by entities when compiling and disclosing financial statements prepared on the basis of cost calculation inventory stocks.

Inventories are assets in the form of:

stocks of raw materials, materials, purchased semi-finished products and components (parts), fuel, containers and packaging materials, spare parts, other materials intended for use in production or in the performance of works and services;

work in progress;

finished products, goods intended for sale in the course of the activity of the entity”.

The accounting of material stocks faces the following main tasks: control over the timely and complete posting of stocks, over their safety in storage places; timely and complete documentation of all stock movements; timely and correct determination of transportation and procurement costs (TZR) and the actual cost of harvested stocks; control over the uniform and correct write-off of TZR for production or circulation costs; control over the state of warehouse stocks; identification and sale of material reserves that are unnecessary for the subject in order to mobilize internal resources; obtaining accurate information about the balances and movement of stocks in the places of their storage.

According to the functional role and purpose in the production process, all stocks are divided into main and auxiliary.

Main- these are materials that are materially included in the manufactured products, forming its material basis (flour when baking bread).

Auxiliary - these are materials that are part of the manufactured products, but, unlike the main materials, do not create the material basis of the manufactured products. These materials are used as components to the basic materials to give the product the necessary qualities (paints, varnish, glue).

Accounting for all types of inventories is kept on the main, active, inventory accounts of subsection 20 “Materials”, which includes the following synthetic accounts: 20l “Raw materials and materials”, 202 “Semi-finished products and components, structures and parts”, 203 “Fuel”, 204 “Containers and packaging materials”, 205 “Spare parts”, 206 “Other materials”, 207 “Materials transferred for processing”, 208 “Construction materials”. For each account, business entities can open the required number of sub-accounts and analytical accounts for accounting materials.

Inventories are valued at the lower of their cost and net realizable value. Net realizable value is used when cost cannot be recovered because the inventory has been damaged, or it is partially or completely obsolete, or its selling price has declined.

Raw materials, materials, purchased semi-finished products, fuel, spare parts and other inventories in the balance sheet are shown at their actual cost. According to the same assessment, values are taken into account in synthetic accounting; in analytical accounting - at fixed accounting prices (contractual or planned and estimated prices).

If the entity records material assets in analytical accounting at contractual prices, then their actual cost will be made up of the cost of materials at these prices plus the TZR. They include railway tariff, water freight, tariff for road transportation and for transportation by aircraft and other modes of transport, including all types of fees; import duties; delivery of materials from suppliers' warehouses, railways and others transport organizations; travel expenses directly related to the acquisition and procurement of stocks; expenses for loading, unloading and packing in warehouses, except for the wages of permanent warehouse workers; commissions paid to supply, intermediary organizations and other expenses directly related to the acquisition of stocks.

Trade discounts, refunds of overpaid tariffs, and other similar adjustments are deducted from the amount of TZR.

If analytical accounting of stocks is carried out at planned and estimated prices, then their actual cost will be composed of the cost of materials at these prices plus or minus the deviation of the actual cost from the cost at accounting prices. These prices are developed by the subjects themselves on the basis of contractual prices, taking into account the planned size of the TZR.

TZR or deviations (+, -) related to the materials used are written off monthly, as a rule, to the same accounts. which reflects the consumption of material assets at contractual or accounting prices. The percentage of TZR or deviations (+, -) is determined by dividing the sum of their balance at the beginning of the month and receipts for the month by the sum of the balance of materials at the beginning of the month and the materials received for the month at contractual (account) prices and multiplying the result by l00. According to the calculated percentage of TZR or deviations (+, -) are written off to the appropriate accounts. With a small amount of types or groups of materials for which it is necessary to find the percentage of TZR or deviations (+, -), and with stable relationships with suppliers, it is possible to apply the percentage according to accounting data for the last month.

The established prices are affixed to the nomenclatures-price tags. In current accounting, prices and item numbers for materials are put down in all documents and registers that take into account balances and movement of inventories.

Accounting Standard No. 7 recommends that entities use the following inventory valuation methods: specific (complete) identification method, weighted average cost method, inventory valuation at first purchase prices (“FIFO”) method, inventory valuation at last purchase prices (“LIFO” ). In translated literature, the abbreviation “FIFO”, “LIFO” is used, while native speakers pronounce “Fifo” and “Laifo”. Consider the meaning of these evaluation methods in the examples below.

Information on the presence and movement of material assets in the subject for May

Indicators	Quantity, pcs.	Price, tenge	Amount, tenge
Balance on May 1	1000	20,00	20000
Acquired in May:
2 party	300	23,00	6900
3 party	600	20,00	12000
4 party	200	22,00	4400
TOTAL income	1300	X	27500
TOTAL with balance	2300	Average price 20.65	47500
Balance on June 1	900	X	X

The method of specific (solid) identification is used in cases where it is possible to clearly organize batch accounting of stocks. It is assumed that for each type of goods it can be established, for example, that it consists of 300 units available on May 1, at 20 tenge per unit in the amount of 6,000 tenge, 100 units from the first batch at a price of 21 tenge in the amount of 2,100 tenge, 300 units from the third batch at a price of 20 tenge in the amount of 6,000 tenge and 200 units from the fourth batch at a price of 22 tenge in the amount of 4,400 tenge. Then total cost the balance will be 18500 tenge (6000 + 2100 + 6000 + 4400). Consequently, the cost of the materials spent per month will be 29,000 tenge (47,500 - 18,500).

Weighted average cost method. This method assumes that the cost of inventories is average cost available stocks at the beginning of the month (period) plus the cost of those received during this month (period). In our example, the average cost of a unit of material will be 20 tenge 65 tiyn (47500: 2300); materials used during the month - 28910 tenge (2300 - 900 = 1400; 1400 x 20.65); balance 18585 tenge (900 x 20.65). This method has been widely used in domestic practice inventory accounting.

The FIFO method, a method of valuing inventories at first purchase prices, is based on the assumption that the actual cost of inventories purchased in the first place should be attributed to consumables. The cost of inventory at the end of the month refers to the latest deliveries, and their disposal to earlier deliveries. In our example, the balance of inventory at the end of the month in the amount of 900 units will be valued: the fourth batch of 200 units at 22 tenge per unit in the amount of 4400 tenge, the third batch of 600 units at a price of 20 tenge in the amount of 12000 tenge, 100 units from the second batch at 23 tenge in the amount of 2300 tenge, and in total in the amount of 18700 tenge. Inventory consumption in the amount of 1400 units (2300 - 900) will be valued at 28800 tenge (47500 - 18700).

The LIFO method is a method of estimating inventories at the prices of last purchases, based on the premise that the cost of inventories acquired last is used to determine the cost of inventories used up first, and the cost of inventories at the end of the month (period) is calculated at the cost of inventories, acquired first. In our example, the balance at the end of the month in the amount of 900 units will be valued at the price of the balance at the beginning of the month (20 tenge) in the amount of 18,000 tenge. Consumption of materials per month - 29500 tenge (47500 - 18000).

Let's compare the data when applying various methods for estimating reserves.

The assessment of inventories and the amount of TZR directly affect the size of the total annual income through the cost of sales, and, consequently, the value income tax With legal entities. Therefore, the correctness of the application of the assessment of inventories and the write-off of TZR (deviations (+, -)) is controlled by the tax authorities.

On the accounts of subsection 20 “Materials” (accounts 20I-208), the following types of values \u200b\u200bare taken into account.

201 “Raw materials and materials” - raw materials and materials necessary to create the basis of the manufactured product or are components in its manufacture. It also takes into account auxiliary materials that are involved in the creation of products, or they are intended for economic needs, technical purposes and to facilitate the production process.

202 “Purchased semi-finished products and components, structures and parts” - purchased semi-finished products and finished components purchased to complete manufactured products and require processing or assembly costs.

203 "Fuel", which takes into account oil products, solid and other types of fuel. Petroleum products include all types of fuels and lubricants used for the operation of Vehicle, technological needs of production, energy generation and heating. Solid fuels include all types of this fuel: coal, peat, firewood, saxaul. Other types of fuel include gaseous fuel, oil shale.

204 “Containers and packaging materials” - packaging of all types, except for those used as packaging equipment and household equipment (tanks, barrels, flasks), as well as materials and parts intended for the manufacture and repair of containers (parts for assembling boxes, barrel riveting, hoop iron).

205 "Spare parts" - spare parts intended for the production of repairs, replacement of worn parts of machines, equipment, vehicles and other types of equipment (parts, assemblies, assemblies, batteries, car tires).

206 “Other materials” - production waste, irreparable defects, valuables received from the liquidation of fixed assets, worn tires, scrap rubber.

207 “Materials transferred for processing” - materials transferred for processing to a third party and subsequently included in the cost of products received from processing.

208 "Construction materials" (used by developers) - building materials used directly in the process of construction and installation work, for the manufacture of building parts. This sub-account also takes into account other values necessary for the needs of construction: explosives, paper.

For the debit of the accounts of subsection 20 “Materials”, they show the balance at the beginning and end of the month, the receipt of materials; on credit - their expense. Inventories are taken into account in two meters: natural and monetary.

IN financial reporting should disclose the following:

accounting policy, adopted for the evaluation of inventory;
decoding book value by classification of inventory;
Significant write-down of inventories to net realizable value, with a description of the reasons;
if the cost of inventories is determined using the LIFO method, then the difference between the amount of inventories on the balance sheet and the lower of the amount received as a result of using the FIFO method, or the weighted average and net realizable value, is subject to disclosure;
cost of goods sold; the carrying amount of inventories pledged as a guarantee for liabilities at the end of the reporting period.

Accounting for inventories in warehouses and in accounting

Accounting for inventories in warehouses is carried out materially responsible persons or, with their consent, accountants (operators) in materials accounting cards (form No. M-17). A separate card is opened for each stock item number, which is transferred from the accounting department to the warehouse in a half-filled form.

In the cards received, the storekeeper fills in the details characterizing the places where materials are stored (racks, cells). Entries in the cards are made on the basis of documents. The completed bill of materials is shown below.

If the balance of inventories in the warehouse is higher or lower than the established stock rate, then the warehouse manager is obliged to inform the supply department about this. For these purposes, the Signal Certificate on deviations of the actual balance of reserves from the established norms of the reserve (form No. M-34) is used. It is used to control the deviation of the actual balance of stocks from the established norms of the stock and to control their balances that are not in motion. The certificate is drawn up in one copy by the warehouse manager (storekeeper) on the basis of data from the Material Accounting Cards (form No. M-17). The criteria for including data in the certificate are established by the department of logistics of the subject.

Accounting in deadlines carries out directly at the warehouses the verification of the correctness of records and the withdrawal of balances in the cards. 0 reconciliation, the accountant signs in a special column of the card.

The accountant accepts documents registering the movement of inventories at the warehouse by compiling the “Register of Acceptance and Transfer of Documents” (f. No. M-18a) in one copy. The registration form is shown below.

On the identified shortcomings and violations in the work of financially responsible persons. as well as the results spot checks and the briefing carried out, the accounting worker must inform the chief accountant.

At the end of the month, the accounting book is transferred to the warehouse from the accounting department, into which the warehouse manager transfers the balances from the material accounting cards. After that, the book is returned to the accounting department for taxation and calculation of totals for accounting groups of inventories and for the book as a whole. Thus, the functions of the warehouse manager for accounting for inventories are reduced to maintaining cards, participating in the compilation of registers for the delivery of documents and recording balances in the inventory book.

Inventory accounting in accounting is carried out according to the operational accounting (balance) method, which eliminates the gap between operational and accounting values, eliminates duplication of quantitative accounting in warehouses and accounting. Accounting is based on operational accounting and is organically linked to it; there is a possibility of operational reconciliation of accounting in the warehouse and in the accounting department, and, consequently, the elimination of errors made in the reporting month; the use of accounting prices eliminates the laborious work of monthly determination of the average cost of inventories; timely receipt of information about the balances in warehouses is ensured. This facilitates the inventory and enhances the operational functions of accounting; expanding the possibility of using computer technology for processing documentation and compiling accounting registers; backlog is excluded analytical accounting stocks from synthetic.

The balance method is characterized by the following: quantitative accounting of stocks is carried out only in the warehouse; in accounting, stocks are taken into account in total terms by storage location and each sub-account or group of stocks.

Accounting for inventories in accounting

The documents received from the warehouses at the transfer-acceptance registers are transferred for Taxation, having previously assembled them in packs and provided with accompanying labels. The first copies of the documents are used for further accounting processing, and the second ones remain in the places of storage of materials, located by groups of values and item numbers. They are used for reference purposes and reconciliation of accounting data in the warehouse and accounting department.

After taxation, the data of the documents are grouped according to the accounting groups established at the enterprise (metals, hardware, timber, etc.) in the Cumulative Statement synthetic accounting materials, which is conducted according to the receipt and consumption of inventory items according to synthetic accounts of subsection 20 “Materials” and groups of materials. In this statement, for each group of materials, indicate in sum terms the balance at the beginning of the month from the statement for the last month, the receipt and consumption of materials for the group for the month from the registers of acceptance and transfer of documents for the current month and find the balance at the end of the month for each synthetic account and material group. The accumulative statement of synthetic accounting of materials is given below.

The accumulative statement is used to reconcile accounting and warehouse accounting data, which is maintained in the Material Accounting Cards and the Book of Remaining Materials.

The book of balances of materials is stored in the accounting department for a month and is used there to obtain information about the balances of materials. At the end of the month, the book is transferred from the accounting department to the warehouse, where the warehouse manager (storekeeper) affixes the balance of material assets to it at the end of the reporting month, certifying them with his signature. The book of balances of materials on the l-3rd day of the month following the reporting month is returned from the warehouse to the accounting department for taxation and calculation of totals for groups and accounts for accounting inventory items (accounts of subsection 20 “Materials”). The inventory book is shown below.

At the end of the month, the data on the balances in the Cumulative Statement of Synthetic Accounting for Materials for each accounting group in total terms are compared with the totals for the groups in the Book of Remaining Materials. These data must match, since entries in the warehouse (in the cards, and then in the Book of Remaining Materials), as well as in the accounting department (in the Accumulative Statement of Synthetic Accounting for Materials) were made on the basis of the same documents and, moreover, during taxation fixed discount prices were applied. As a result, in the first days of the month following the reporting month, the accounting department will have the balances of materials reconciled with the warehouse data for all synthetic accounts and groups of material assets.

In the accounting department, on the basis of the Accumulative Statement of Synthetic Accounting of Materials (with the balance method) or the Reports of Materially Responsible Persons on Balances and the Movement of Material Assets (if the balance method is not applied), a statement “Movement of materials in monetary terms” is compiled. This statement shows the balances and movement of material assets in warehouses or materially responsible persons, and also calculates the average percentage of the TZR (deviations of the actual cost from the cost at discount prices +,) according to the data on the balances and receipt of materials for the month at the actual cost and accounting prices. Based on the percentage found, the accounting value of the spent material assets is brought to the actual value. The listing consists of two sections.

In the first section, a summary of data on the receipt of materials by the enterprise at the actual cost and accounting prices is made, the amount and percentage of TZR or deviations (+, -) are determined; is the amount of TZR (deviations) on the balance of materials to be written off. The first section of the statement is shown below.

In the second section of the statement, based on the data of the “Cumulative statements of synthetic accounting of materials” or “Reports on the balances and movement of material assets” compiled by financially responsible persons, a summary of data on the balances and movement of values for the month is carried out at accounting prices and actual cost. The data in this section is reconciled with the General Ledger of Accounts in subsection 20 “Materials”. The second section of the statement is shown below.

It can be seen from the statement that transport and procurement costs or deviations (+, -) of the actual cost of spent material assets from their value at accounting prices. debited to the accounts of subsections 901 “Material costs”, 921 “Material costs”, 931 “Material costs”, as well as 951 “Material costs”, are written off to the debit of account 901 “Material costs” (129298 tenge).

This is due to the fact that the TZR or deviations (+, -) to be written off to a group of production accounts, through these accounts, will eventually be written off to the debit of account 900. Thus, to the debit of accounts 921, 931 and 951 TZR or deviations (+, -) are not written off, and the consumption of valuables is reflected at discount prices.

In the accounting department, on the basis of the first copies of documents for the consumption of materials, a development table “Distribution of material consumption” is compiled, in which workshops and accounts are indicated - consumers, orders, cost items and other objects of accounting or calculation and consumption of materials at accounting prices. Based on the table, entries are made in the statement “Expenses of workshops” (debit of accounts of subsections 901, 921, 931, 951), credit of accounts 201, 202, 203, 204, 205, 206 and 208.

The development table "Distribution of consumption of materials" is given below.

In order to exercise systematic control over the safety of valuables, the accounting department should conduct control and random checks of balances certain types materials in nature. An equally important task of accounting is to organize control over the use of materials in production.

Materials remaining in the workshops at the end unused (uncut, not processed) must be written off from the production accounts to the corresponding accounts of materials according to their inventory and valuation data (debit of accounts of subsection 20 “Materials”, credit of accounts 901, 921, 931, 951) . On the first day of the new month, the remains of these materials accounting entry debited to production accounts (debit of accounts 901, 921, 931, 951, credit of accounts of subsection 20 “Materials”).

To control the use of materials in production, the following methods are used: documenting deviations from the norms, accounting for cutting by batches, inventory (inventory method).

To identify deviations for each batch of cut material, the method of cutting by batches is used. This accounting is carried out by the foremen-managers, the planning and dispatching bureau of the workshop in accounting (cutting) cards, opened for each batch of cut material. In accounting cards, based on technological cutting charts, it is indicated how many and what blanks should be obtained as a result of cutting this batch, as well as the amount of waste (according to norms). In addition, the cards record the amount of material supplied to the workplace, the number of blanks (parts) actually made from this batch, as well as the actual amount of waste. To identify the cutting results, the actual number of blanks obtained is compared with the standard. The consumption of materials according to the norms is determined by multiplying the amount of manufactured products by the current consumption rate. Savings or cost overruns are determined by comparing the amount of materials actually used with the standard cost for actual output. Similar control is carried out with respect to waste. The accounting card indicates the reasons for deviations and the persons responsible for cutting materials.

On the basis of current accounting data, workshops (sections) must submit reports and reports to the accounting department on the use of materials in production and on deviations from the norms, indicating the reasons for savings or overspending.

Consider the correspondence of accounts for accounting for the movement of materials:

data of their inventory and evaluation (debit of accounts of subsection 20 “Materials”, credit of accounts 901, 921, 931, 951). On the first day of the new month, the balances of these materials are written off with an accounting entry to the production accounts (debit of accounts 901, 921, 931, 951, credit of accounts of subsection 211 “Materials”). To control the use of materials in production, the following methods are used: documenting deviations from the norms, accounting for cutting by batches. inventory (inventory method).

When documenting deviations from the norms when replacing some materials with others, as well as when dispensing materials in excess of the norms, an “Act-requirement for replacement ( additional leave) material” (f. No. M-10).

If it is impossible or inappropriate to use batch accounting, deviations are identified for each type of material for individual performers, teams, departments or for the workshop as a whole (per shift, day, five days, decade or month) using periodic inventories.

On the basis of current accounting data, workshops (sections) must submit reports and reports to the accounting department on the use of materials, in production and on deviations from the norms, indicating the reasons for savings or overspending. Consider the correspondence of accounts for accounting for the movement of materials:

Inventories received and credited to warehouses:

debit of accounts of subsection 20 “Materials” (201-2016, 208) - for the cost of material assets (excluding VAT) received from suppliers registered for VAT in the Republic of Kazakhstan,

debit of account 331 “Value added tax reimbursable” - for the VAT amounts included in the tax invoices of suppliers registered for VAT,

credit of account 671 “Settlements with suppliers and contractors” - for total amount invoices.

Not accepted for offsetting VAT (not included in the debit of account 331) on received valuables, if there are no tax invoices, as well as VAT amounts paid (payable) to suppliers not registered for VAT in the Republic of Kazakhstan.

Capitalized materials received from the liquidation of fixed assets:

debit of account 206 “Other materials”,

credit of account 727 “Other income from non-core activities”.

Materials received from defects in production, production waste, return of materials from production to warehouses are credited:

debit of accounts 201 “Raw materials”, 202 “Purchased semi-finished products and components, structures and parts”, 203 “Fuel”, 205 “Spare parts”, 206 “Other materials”,

credit of accounts 126 “Construction in progress”, 821 “General and administrative expenses”, 862 “Income (loss) from natural disasters”, 863 “Income (loss) from discontinued operations”, 901 “Material costs”, 921 “Material costs”, 931 “Material costs”, 951 “Material costs”.

Paid (accepted) expenses for transportation, loading and unloading, storage of materials in warehouses that do not belong to this enterprise:

debit of accounts of subsection 20 “Materials” (accounts 201-208),

credit of accounts 671 “Settlements with suppliers and contractors”, 333 “Debts of employees and other persons”, 441 “Cash on the current account”, 451 “Cash on hand in national currency”, 681 “Settlements with personnel for wages”, 687 “Other accounts payable and accruals”, as well as accounts of subsection 65 “Settlements on extra-budgetary payments” (651, 652, 653, 655), etc.

Consumption of materials from warehouses:

credit of accounts of subsection 20 “Materials” (201, 202, 203, 204, 205, 206, 208),

debit of account 207 “Materials transferred for processing” - for the cost of materials transferred for processing and processing in the order of tolling operations,

debit of accounts 901 “Material costs”, 921 “Material costs”, 931 “Material costs”, 951 “Material costs”, 940 “ Social sphere”- on the cost of materials released to the main and auxiliary industries, to correct marriage and the social sphere,

debit of account 821 “General and administrative expenses” - for the cost of materials spent on the repair and maintenance of buildings, structures and equipment for general purposes and management,

the debit of account 845 “Other expenses for non-core activities” - for the cost of material assets sold on the side, to subsidiary (dependent) partnerships in the assessment at their actual cost.

Accounts 301 “Account receivable”, 321 “Debt of subsidiaries”, 322 “Debt of affiliated partnerships”, 323 “Debt of jointly controlled partnerships” are debited to the contractual value of the realized material assets and credited to account 727 “Other income from non-receivable activities” (transactions for the calculation of VAT and deductions to the road fund are made in the generally established manner and are not given in this paragraph);

debit of accounts of subsection 86 “Income (losses) from emergencies and terminated operations” (accounts 861, 862) – consumption of materials for liquidation of consequences of emergency situations (earthquake, flood, mudflow).

Write-off of the spent materials on accounts-consumers is made at their actual cost price.

It should be borne in mind that the cost of inventories sold is recognized as an expense at that time. reporting period in which the income associated with it is recognized. The amount of any write-downs to net realizable value and any inventory losses are recognized as an expense in the reporting period in which the write-down or loss occurs. The amount of the recoveries in the cost of inventories previously written off, as a result of the increase in net realizable value, is recognized as a reduction in the cost of inventories sold in the reporting period in which the increase occurs.

Ministry of Education and Science of the Republic of Kazakhstan Karaganda Economic University of Kazpotrebsoyuz

Department of Accounting and Audit

Course work

on the topic: Accounting for inventory in the accounting department of an enterprise

Karaganda 2008
Content

Introduction

1 Organization of inventory accounting in the preparation of information for users

2 Inventory valuation and inventory price selection

3 Documenting and accounting for the receipt of inventory

4 Documentation and accounting for the disposal of inventories

5 The procedure for acceptance, verification and processing of reports of materially responsible persons on the movement of inventories

6 The procedure for determining inventories and the cost of sold inventories

7 disclosure of information on balances and movement of inventories in reporting

8 Computer accounting of inventories for various programs

Conclusion

List of used literature

Applications

Introduction

Inventory is one of the critical factors ensuring permanence and continuity technological process from mining companies. This is due to the fact that the continuity and normal rhythm of industrial production requires that the enterprise constantly has a sufficient amount of raw materials and materials in warehouses to fully meet the needs of production at any time of their use. Therefore, the need for an uninterrupted supply of production in conditions of continuity of demand and discreteness of supplies determines the creation of the required amount of inventory at enterprises.

Comprehensive study and correct understanding economic essence inventories, their importance and role in the economy of enterprises, is among the most important problems for the economy and rational use of state resources and the tasks of improving the material and technical supply of all enterprises of the state. Relevance of the topic thesis characterized by the fact that inventories occupy a special place in the composition of the property of the enterprise in terms of the volume of participation in the production process, as well as in accounting for the forms of assessment used.

The production process of mining enterprises has a number of features that affect not only the organization of production and production technology, but also the ability to account for and control the inventory of the enterprise. The nature of the work and the constant movement of the main jobs create certain difficulties for the control of inventories.

aim term paper is a comprehensive study of the accounting of inventories in the accounting department of the enterprise.

In accordance with the goal, the tasks of the course work were formulated:

Research economic characteristics inventories;

To study the issues of valuation of inventories, reflection of the cost of inventories in financial statements;

Determine the sequence of accounting for incoming and outgoing inventories, as well as the procedure for monitoring the activities of materially responsible persons.

Research organizational aspects and accounting policy of Mermer LLP;

Consider the possibility of automating the inventory accounting process.

The subject of the study is the accounting of inventory in the accounting department of the enterprise.

The object of the study is the inventories of Mermer LLP. The main activity of the Mermer LLP enterprise is the conduct of works related to the extraction, processing and sale of non-metallic building materials.

Research methods - the study of theoretical and regulatory literature on the research problem, the analysis of the accounting documentation of the enterprise related to the topic of the course work under consideration, the synthesis of the above sources.

theoretical and methodological basis for writing the course work were the Laws of the Republic of Kazakhstan, the decrees of the Government of the Republic of Kazakhstan, monographic works of domestic and foreign academic economists and financiers.

1. Organization of inventory accounting in the preparation of information for users

In the conditions of market relations, the role of accounting in the enterprise is exceptionally great. This is due to the fact that enterprises acquire independence and bear full responsibility for the results of their production. entrepreneurial activity to owners and employees.

In a general sense, inventories are assets in the form of:

Stocks of raw materials, materials, purchased semi-finished products and components, fuel, packaging and packaging materials, spare parts, other materials intended for use in production or in the performance of works and services;

work in progress;

finished products;

Goods intended for sale.

Inventory accounting occupies an important place in the system of intermediate financial accounting at the enterprise. It generates information feedback on indicators characterizing the actual state and quality indicators of the use of inventory. All this contributes to the improvement of resource saving at the enterprise.

Inventories (raw materials, materials, fuel, etc.) are objects that human labor is directed to in order to obtain finished products. Unlike means of labor, which retain their form in the production process and gradually transfer value to the product, objects of labor are consumed in their entirety and completely transfer their value to this product and are replaced after each production cycle. In industry, the consumption of inventories in production is gradually increasing. This is due to the expansion of production, a significant share of material costs in the cost of production and rising prices for resources.

The main operations with inventory and the sequence of their reflection in accounting are presented in table 1.

Table 1. Main operations with inventory and the sequence of their reflection in accounting

Operations with TMZ	The sequence of reflection of operations
1. Acquisition	The cost of inventories purchased for cash or on credit is reflected in the debit of the accounts of certain types of inventory and the debit of the control account of all inventories (with a continuous inventory accounting system) or in the debit of the purchase account (with periodic accounting of inventories). In this case, the cash account or accounts payable credited for the amount of the cost of purchased inventory
2. Spending for production purposes	As inventories are used up in the production process, their value is transferred from the raw material inventory accounts to the inventory account in work in progress. In this case, the accounts of certain types of inventory are credited, and the work in progress account is debited.
3. Use in production	The cost of work in progress includes, in addition to the cost of raw materials, the cost of labor force and overhead. The cost of these costs is credited to the cash account.
4. Completion of the manufacture of products from TMZ	As the processing of raw materials into finished products is completed, the value of work in progress is transferred to the value of finished products: the amount of the transferred value is reflected in the credit of the work in progress account to the debit of the finished product account
5. Sale of finished products	When finished goods inventory is sold, its value is transferred from the finished goods inventory account to the cost account. sold products(cost of goods sold)

Thus, the inventory accounting tasks are as follows:

Correct and timely documentary reflection of all operations for the procurement, receipt and release of materials;

Identification and reflection of the costs associated with their preparation; calculation and write-off of deviations by cost directions;

Control over the safety of inventories in the places of their storage and at all stages of movement;

Constant monitoring of compliance with the installation standards of inventory;

Systematic control over the use of materials in production on the basis of reasonable norms for their consumption;

Control over technological waste and losses and their use;

Get timely and accurate information about savings or overruns material resources compared with established limits;

Timely implementation of settlements with suppliers of inventory, control over inventory in transit, uninvoiced deliveries.

The variety of forms of ownership in the period market economy, the expansion of the rights of enterprises in managing the economy, industry-specific features of production require alternative, and sometimes multivariate approaches in solving specific issues of methodology and technology for keeping records of inventories.

Businesses now have a choice various ways:

Organization of accounting for the procurement and acquisition of materials;

Reflections of the cost of materials remaining at the end of the month in transit or not taken out of the warehouses of suppliers;

Identification of deviations of the actual cost of inventories from accounting prices and their subsequent distribution between the materials used in production and their balances in warehouses.

But in any case, to ensure the safety of stocks, proper acceptance, storage and issue of stocks importance has the presence at the enterprise in a sufficient number of warehouses equipped with weights and measuring instruments, measuring containers and other devices.

It is also necessary to introduce effective forms preliminary and current control over compliance with inventory standards and the expenditure of material resources, to pay more attention to improving the reliability of operational accounting of the movement of semi-finished products, components, parts and assemblies in production.

Accounting data should contain information to find reserves to reduce the cost of production in terms of the rational use of materials, reduce consumption rates, ensure proper storage and preservation.

Primary documents for the receipt and consumption of inventories are the basis for organizing their accounting. Directly by primary documents carry out preliminary, current and subsequent control over the movement, safety and rational use of inventory.

Thus, only with the help of a rational organization of accounting and on the basis of economic analysis resource support of the enterprise, identifying strengths and weaknesses in the policy of the enterprise in relation to resource saving, it is possible to outline measures to improve accounting operations and increase the efficiency of the use of inventory in the enterprise. Such measures can be a reduction in material consumption, due to a decrease in the consumption of materials at the enterprise.

2. Valuation of inventories and selection of accounting price of inventories

Valuation is the process of determining the amount at which an item is accounted for in financial statements.

In the process of accounting for the inventory of an enterprise, the process of choosing the forms of valuation of the property used is of great importance. Evaluation of inventories, given the diversity of their types and nature of use, the most complex and important reality of the assets of the balance sheet and financial results enterprise activities.

In accordance with Accounting Standard No. 7, Inventory Accounting, inventories are valued at the lower of cost and net realizable value.

At the same time, the cost of inventory includes: the cost of acquiring stocks, transport and procurement costs associated with their delivery to the place of storage and bringing them into proper condition. Inventory acquisition costs include the purchase price; import duties; commissions paid to supply, intermediary organizations: transport and procurement and other expenses directly related to the acquisition of stocks. Trade discounts, rebates and other similar adjustments are deducted from the cost of the acquisition.

The net realizable value of inventories is the estimated selling price less the cost of picking and arranging the sale. Net realizable value is usually used when cost cannot be recovered for the following reasons:

These inventories were damaged;

They are partially or completely obsolete;

Their selling price has gone down.

As a rule, in industrial production, inventories of materials and other supplies are not written down below cost (to net realizable value) if it is expected that the finished product into which they will be processed will be sold at a price equal to or greater than cost. If, on the other hand, a decrease in the price of materials is expected to result in the revenue received from the sale of the finished product being below its cost, the cost of materials is partially written down to net realizable value.

The following methods can be used to determine the lower of cost and net realizable value of inventories:

The itemized method, which selects the lower of the book value and net realizable value of each item of inventory;

The basic material group method, which selects the lower of the book value and net realizable value of a group of inventories;

General Inventory Method - The lowest of the book value and net realizable value of all inventory is selected.

The price for the same materials during the acquisition during the reporting period varies, and in order to correctly assess how much inventory is left and how much is included in the cost of production, one of the four methods for estimating the cost of inventory provided by SBU No. 7 is used . In addition, each of the above methods defines the write-off of inventories as a flow of costs, and not as a flow of physical units.

Weighted average cost method. This method assumes that the cost of inventories is the average cost of inventory available at the beginning of the month (period). The mathematical formula for calculating the average cost can be represented as follows:

Average cost

where - the cost of residual materials at the beginning of the reporting period;

K.m - the number of residual materials at the beginning of the reporting period;

The cost of purchased materials;

Kpriob - the amount of purchased materials.

The FIFO method is a method of valuing inventories at first purchase prices. The essence of this method is that stocks are sold (written off) in the same order as they are purchased: first in, first out. Thus, the value of the balances at the end is based on the value of the most recent purchases.

The LIFO method, the last-purchased inventory method, is based on the premise that the cost of last-purchased inventory is used to determine the cost of inventory used first: last in, first out. The cost of materials in balances at the end of the reporting period is calculated based on the cost of materials purchased first. From 01.01.2005 international standard Accounting No. 2 canceled the LIFO method.

The specific identification method involves the calculation of the cost of items of inventory, which are usually not fungible, goods and services produced and intended for special projects or orders. When using the method, it is assumed that it is known which specific units of inventory are sold (released for production), and which remain.

The main goal in choosing an inventory valuation method is to choose the method that most accurately reflects the income for the period.

Enterprises are required to consistently apply the same method of valuation of inventories on the principle of comparability. Changes are possible only if the new valuation method is preferable to the old one, subject to the following conditions:

Making changes to the accounting policy of the enterprise;

Implementation of the transition from one method of accounting for inventories to another at the beginning of the reporting period (as of January 1);

Timely recognition of adjustments to inventory balances and retained earnings of previous years in the financial statements.

The transition to IFRS in Kazakhstan will provide more stringent regulation of the valuation of inventories, in particular, the use of the LIFO method is limited and enterprises that have chosen it as a valuation method must report the difference between the cost of inventories using this method and the value estimated using other methods: "FIFO" and weighted average cost.

It can be concluded that, for their own purposes, enterprises can use various methods for assessing inventory. The choice of one of the methods may provide the enterprise with a lower income tax, as seen in the first example, or vice versa, if the business is being valued, the choice of other methods will increase the value of the inventories remaining in the enterprise.

Recognized as an expense in the recovery period. 2 ORGANIZATION OF ACCOUNTING OF COMMODITY AND MATERIAL INVENTORIES AT THE ENTERPRISE OF UDVU SCOPE "Nursery - kindergarten No. 53 of Pavlodar" 2.1 Characteristics of the enterprise The object of study in this work is the Office of preschool and out-of-school institutions State public utility company "Nursery - kindergarten No. 53 of the city ...

Inventory- these are objects of labor that participate in the production process once and transfer their value completely to the cost of production. And they become the material basis of manufactured products. For example: flour turned into bread. Everything, there is no flour, there is bread. But what is the bread made from? From flour.

Various materials are involved in the production process. Completely consumed in the production process, these are raw materials, materials and semi-finished products, and there are also those that are also included in the cost of production, products through changes in their shape, such as emulsions, lubricants and paints and varnishes. And there are those who do not change either externally or internally, but only help (contribute) to the manufacture of products, these are (tools, overalls, etc.).

According to their purpose and the role of participation in production, all inventories can be divided into the main ones - these are materials that are material, completely included in the composition of new products, becoming its material basis, the same flour in the production of bakery products.

And for auxiliary materials - they are also part of the manufactured and manufactured products. Of course, they do not constitute the material (material) basis of manufactured products, but they are used to acquire quality. Basically they go as components to the main materials. But this division into basic and auxiliary materials is very, very conditional. This must be known theoretically, but in practice this distribution must be considered in each specific case. For example, the same flour. For bread baking, these are the main materials, and for the preparation of fish dishes, they are auxiliary material.

Inventories are assets in the form of:

stocks of raw materials, materials, purchased semi-finished products and components (parts), fuel, packaging and packaging materials, spare parts, other materials intended for use in production or in the performance of works and services;
work in progress;
finished products, goods intended for sale in the course of the entity's activities.

Inventories are accounted for on accounts 2 of section of subsection 1300 "Stocks" of the chart of accounts.

Goods are accounted for at cost, including all acquisition costs (purchase price, import duties, commissions). Estimation of the cost of inventory is made by the method of specific identification (at purchase prices). The method of specific (solid) identification is used in cases where it is possible to clearly organize batch accounting of stocks.

Using the weighted average cost method, the cost of similar items of inventory (bolts, gasoline, diesel fuel, coal) available at the beginning of the reporting period and purchased during this reporting period can be calculated. This method assumes that the cost of inventories is the average cost of inventory available at the beginning of the month (period) plus the cost of those received during that month (period).

All operations related to the movement of inventories are drawn up with documents that are issued in a minimum number of copies. Incoming documents (invoices, payment requests, orders, waybills) related to the receipt of inventories are transferred to the supply department or to the accounting department (at small enterprises) for verification and acceptance (acceptance for payment).

Inventories are depreciated in cases of their deterioration or loss of quality, while the difference in prices is written off to the results of economic activity.

Accounting for material stocks in warehouses is carried out by financially responsible persons or, with their consent, accountants (operators) in material accounting cards. A separate card is opened for each stock item number, which is transferred from the accounting department to the warehouse in a half-filled form.

The documents received from the warehouses at the transfer-acceptance registers are transferred for taxation, having previously assembled them in packs and provided with accompanying labels. The first copies of documents are used for further accounting processing, and the second ones remain in the places of storage of materials, located by groups of values and item numbers. They are used for reference purposes and reconciliation of accounting data in the warehouse and accounting department.

Correspondence of accounts for accounting for the movement of materials:

Inventories received and credited to warehouses:

Dt 1300 Kt 3310

Capitalized materials received from the liquidation of fixed assets: Dt 1316 Kt 6280.

Materials received from defects in production, production waste, return of materials from production to warehouses are credited:

Dt 1310-1316 Kt 7210, 8111, 8211, 8311, 8411

Paid (accepted) expenses for transportation, loading and unloading, storage of materials in warehouses that do not belong to this enterprise:

Dt 1300 Kt 3310, 1030, 1011, 3350,3390,

Purchased fuel with payment from the cash register:

Dt 1313 Kt 1011

Transferred from the current bank account for spare parts to other creditors:

Dt 3390 Kt 1315

As a result of the inventory, a surplus of goods was revealed:

Dt 1330 Kt 6010

The actual cost of goods intended for sale is written off:

Dt 7010 Kt 1330

Goods shipped to buyers.

Information on the presence and movement of material assets in the subject for May

Indicators

Price, tenge

Amount, tenge