Accounting of inventories in the enterprise
Production inventories arepart of the enterprise's assets. They are used as raw materials or production materials for manufacturing products, are intended for sale and can be used for own needs.
On the basis of accounting number 5/01 toproduction and physical resources include still various goods and ready-to-sell products. Production TMZ are divided into different groups depending on their purpose. This is the main group of production stocks used in the process of creating products (raw materials and materials, semi-finished products and components) and an auxiliary group that serves to maintain the means of labor in a normal state (varnishes, paints, fuels and lubricants).
Accounting of material inventories is carried out on the accounts of accounting No. 10 "Materials", No. 12, No. 15 "Procurement and purchase of goods and materials", No. 16 "Deviations in the value of goods and materials."
Depending on their technical propertiesproduction material costs are divided into separate sub-accounts. These are the following accounting subaccounts - "raw materials and materials", "purchased components and semi-finished products", "fuel", "packaging and materials", "spare parts", "other materials", "construction TMZ", "stocks transferred for processing" "Economic inventory".
Assessment of inventories inAccounting when they enter the warehouse is carried out at actual cost. The total cost of TMZ is formed from the actual cost specified in the receiving documents (incoming invoice)? and additional costs associated with their purchase (information services, customs duties, transportation costs, insurance and others).
Inventory accounting forany economic entity is carried out only on the basis of primary accounting documents. The basis for taking into account the production of material inventories is a consignment note, an incoming invoice from the seller, which includes the quantity, the unit price and the total cost including VAT. Then a parish warrant is drawn up at the parish. Production reserves received from production shops are stocked on the basis of an internal invoice.
Inventory accountingprovides for mandatory inventory, conducted at least once or twice a year to confirm the actual balances in the warehouse. Obligatory inventory and actual assessment of the technical condition of stocks is carried out at the end of the year or additionally may be carried out when the chief accountant or the director of the enterprise is changed, those officials directly responsible for the presence of TMZ, for their correct reflection in the accounting. Inventory of production stocks is carried out by a special commission created at the enterprise to check material stores and conducted by the enterprise with personal participation of storekeepers and representatives of the commission appointed by order.
Analytical accounting of material and productionof stocks is carried out on separate warehouses in a cut of subaccounts and separate groups of TMZ. Analytical accounting depends on the chosen method of the method of estimating production stocks (for example, based on the average price method).
Accounting of inventories inof the financial statements necessarily contains information on the methods of accounting for TMZ used at the enterprise in accordance with the approved accounting policy. Correctly organized accounting of TMZ is the most important factor for the uninterrupted organization of the production process and the output of products. Also, the types and value of TMZ, transferred as collateral to another enterprise, are necessarily identified in the financial statements.