Finished products. Accounting and management accounting

For trade organizations and industrial enterprises, there are special accounting rules that fully reflect the main differences in the characteristics of their economic activities. For example, the 43rd account, on the court accounted for finished products, is used only by enterprises that carry out the production of sold goods on their own. In this account, the costs accrued on the 40th account in the process of manufacturing the goods are transferred after it is delivered to the warehouse already ready. This is done with the help of the following posting: the 40th account is credited, and the 43rd account, respectively, is debited.

Managing companies can use the information that "finished products" account provides them in a variety of ways. First of all, this figure allows them to see to what extent the warehouses of the enterprise are loaded. Already from here we can conclude whether it is worthwhile to expand production of goods or, on the contrary, it is necessary to stimulate sales, since in the warehouse there is finished product above the norm.

In addition, we should not forget about the reserve of finished products, which should always have an enterprise. Demand is a fairly unpredictable variable in a market economy, so an enterprise should always be prepared for the fact that a large order can be followed that can be satisfied with the help of a formed reserve. However, too large a reserve is fraught with excessive costs for storage of products, in addition, there is an increased likelihood of spoilage of goods stored in a warehouse, which can also result in losses for the enterprise.

After the finished product arrived at the warehouse and was accounted for by the accountant, it awaits its further fate. The received order from the client is satisfied just with its help, which, of course, should be appropriately reflected. Usually the sale of products is reflected immediately upon the fact of shipment, or rather the transfer of the goods into the ownership of the new owner, in accordance with the terms of the freight. However, in some cases, revenue can not be recognized immediately, and then you need to use an additional 45th account.

But first, let's talk about the traditional way of accounting. When finished products are shipped, the wiring involves, in addition to the 43rd account we are considering, also the 90th account, referred to as "sales." The fact of shipment is reflected by its debit and, accordingly, by the credit of the "finished products" account. In the future, the 90th account also records revenues derived from the sale. The difference between the cost price, which has migrated to the 90th account, bypassing our 43rd, and also the proceeds from the sale, will give the first idea of what profit an enterprise can get through its commercial activities.

If the revenue is not taken into account immediately, and this usually happens, if the enterprise specializes in export operations, then we add to the classic chain the "shipped goods" account under number 45. In this case, we need to debit this account by crediting the account of 43rd. When, according to the law, an enterprise finally gets the right to recognize revenue, the accountant can transfer the cost of production from the 45th account to the 90th.

This completes the work with the "finished products" account. As you can see, this account is of secondary importance, reflecting the movement of goods from production shops, through the warehouses of the manufacturer and to the warehouses of the buyer, but at the same time, it contains the most important analytical information necessary for making decisions in the production and marketing sphere, so its Value should not be underestimated.