If an organization is a manufacturer of any products, products, goods intended for subsequent sale, then there is a need to organize accounting of finished products arriving at the organization’s warehouse or released to customers.

Finished products - these are products and semi-finished products that are fully processed, complying with current standards or approved technical specifications, accepted by the warehouse or by the customer. It represents the final result of the production cycle of the organization’s economic activities.

In accordance with PBU 5/01 “Accounting for inventories”, finished products are part of the organization’s inventories intended for sale; therefore, when accounting for finished products, the general requirements for inventory accounting are met. The finished products produced must, as a rule, be delivered to special finished product warehouses. These products are shipped externally, and some of them are constantly in the warehouse. Financially responsible persons are responsible for all its availability and movement. To ensure the reliability of accounting data on the availability of finished products, it is necessary to carry out inventories, and for ongoing monitoring of their safety, inspections.

Necessary prerequisites for effective control over the safety of finished products are:

Availability of properly equipped warehouses and storerooms or specially adapted areas (for open storage stocks);

Placing product stocks in warehouse sections, and within them in separate groups and type-varietal sizes (in stacks, racks, on shelves, etc.) in such a way as to ensure the possibility of their quick acceptance, release and checking of availability; in places where each type of stock is stored, a label should be attached indicating information about the stock being held;

Equipping storage areas for product stocks with weighing facilities, measuring instruments and measuring containers;

Determination of the list of central (base) warehouses, warehouses (storerooms), which are independent accounting units;

Determining the circle of persons responsible for the acceptance and release of product inventories (warehouse managers, storekeepers, forwarders, etc.), for the correct and timely execution of these operations, as well as for the safety of the inventories entrusted to them; concluding written agreements on financial liability with these persons in accordance with the established procedure; dismissal and relocation of financially responsible persons in agreement with the chief accountant of the organization;

Determining the list of officials who have the right to sign documents for the receipt and release of products from warehouses, as well as to issue permits (passes) for the removal of products from warehouses and other storage places.

Quantitative accounting of finished products by type and storage location can be organized in two main ways: card and cardless. In the first method, grouping statements of receipt of products are compiled according to their types and storage locations. In the second method, daily turnover sheets are compiled (usually with the help of computers) to record the release from production and the movement of finished products to warehouses and other storage places.

The release of products from production in both the first and second methods is documented with delivery notes, specifications, acceptance certificates, etc.

The following primary documents are used to account for finished products:

Delivery notes,

Certificates of acceptance and delivery of works (services),

Railway receipts,

Waybills,

Payment requests-orders.

The release of finished products must be carried out under constant control from the accounting apparatus of the organization, since its uninterrupted receipt from the production process presupposes the timeliness of fulfilled contractual relations with customers, the organization of settlements with the budget, extra-budgetary funds, and employees of the organization.

After the product has passed the last stage of the production cycle, it is considered ready, and if it does not immediately go into sale, it is deposited with the financially responsible person (storekeeper).

Upon receipt of finished products, the financially responsible person, signing the document on the transfer of material assets (acts, invoices, etc.), leaves a second copy of it with himself. When products are removed from the warehouse, the accounting department prepares two copies of invoices, one of which is kept by the person who received the products, and the second remains in the warehouse. All movement of finished products should be reflected in warehouse accounting cards (form No. M-17) or, which is more convenient with a large range of goods and materials, in the warehouse accounting book (form No. M-40). These documents reflect the receipt, consumption and balance of each range of finished products.

At the end of the month, the financially responsible person draws up and submits to the accounting department a report on the movement of material assets, to which are attached all the primary documents reflected in it. Accounting for finished products by the financially responsible person is carried out, as a rule, in quantitative terms. The cost and total amounts are already indicated in the accounting department when processing material reports.

The actual movement of finished products in accounting is taken into account in production reports and reports on the movement of material assets, on the basis of which organizations draw up a statement of accounting for material assets, goods and containers. These statements are used in the future to fill out journal order No. 10/2.

After reconciling all the data reflected in the primary documentation with the information presented in the accounting registers, the accounting department prepares balance sheets.

Capitalization of finished products, depending on their further use, can be made on account 10 “Materials” or on account 43 “Finished products”. “Materials” comes to account 10 if it is precisely known about its further use for the needs of the farm. If the direction of use of the product is unknown, as well as when the finished product is sent for sale, it is reflected in the active balance sheet account 43 “Finished Products”.

PBU 5/01 establishes the rules for the formation in accounting of information about the organization’s finished products. PBU 5/01 provides for the following areas for assessing finished products:

1) assessment of finished products upon receipt;

2) assessment of finished products when they are released into production or disposed of.

The main difficulty associated with accounting for finished products is due to the fact that when they are brought from the workshop to the warehouse, as a rule, no one knows and cannot know how much it cost to produce these products and, as a result, no one can say what their cost is. actual cost. Therefore, during the reporting period, these products are received and their movement is reflected at accounting (planned or other) prices, and only after the actual cost of production has been calculated, the previously reflected in accounting assessment of the received and, accordingly, already shipped products is clarified - brought to the actual . Finished products during the reporting period 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 organizations 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, i.e., the planned (standard) cost, are determined and separately taken into account.

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 its cost indicated in 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.

Accounting for the availability and movement of finished products is carried out, as noted above, at active account 43 “Finished products”. This account is used by organizations in the material production industries.

On account 43, finished products can be accounted for both at actual production cost and at standard (planned) cost, which includes costs associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources and other production costs in the production process , or at direct costs.

Account 43 “Finished products” does not take into account:

The cost of work performed and services provided to third parties (in fact, the costs for them are written off from the production cost accounts directly to account 90 “Sales”);

Products that are subject to delivery to customers on site and are not formalized with an acceptance certificate (remains as part of work in progress);

Finished products purchased for assembly (the cost of which is not included in the cost of production of the organization) or as goods for sale (accounting for goods is kept in the organization on account 41 “Goods”).

The debit of the account reflects the receipt of finished products (from production, returns from customers, based on inventory results), the credit reflects their write-off as a result of shipment, shortages, return to production (Table 6.1).

When accounting for finished products on account 43 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 cost at accounting 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, 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 for the balance of finished products at the beginning of the reporting period and deviations for products received at 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 and the debit of the corresponding accounts (45, 76, 79, 90) with an additional or reversal entry, depending on whether they represent whether they are overspending or saving.

In accounting, the production and sale of finished products can be carried out using (or without using) account 40 “Output of products (works, services)”, which is intended to summarize information about manufactured products, completed works and performed services for the reporting period.

Account 40 “Output of products (works, services)” reflects information about manufactured products, works delivered to customers and services provided for the reporting period, and also identifies deviations of the actual production cost of these products, works, services from the standard (planned) cost.

Accounting for finished products using this account is carried out at standard cost. In this case, finished products actually released and delivered to the warehouse during the month are valued at standard (planned) cost and are reflected on the credit of account 40 in correspondence with account 43. Products sold are reflected at standard (planned) cost on the debit of account 90 and the credit of account 43 .

At the end of the month, information on products released from production (works completed, services provided) is generated in account 40 in two estimates:

1) by debit – actual production cost;

2) for a loan – standard (planned) cost.

By comparing the debit and credit turnover on account 40, the deviation of the actual production cost from the standard (planned) cost is revealed. The excess of the latter over the actual one is reflected by a reversal entry in the debit of account 90 and the credit of account 40. The excess of the actual cost over the standard (planned) cost is reflected in the debit of account 90 and the credit of account 40 by an additional entry.

Thus, the entire amount of deviations for the sale of finished products will be written off to financial results.

Account 40 “Output of products (works, services)” is closed monthly and has no balance as of the reporting date.

If accounting for finished products is carried out without using account 40, then on account 43 “Finished products” accounting is carried out at actual cost. At the same time, in analytical accounting on account 43 and in storage locations, the presence and movement of finished products are reflected at accounting prices (prices of actual cost or standard prices; other options are possible). If standard prices are applied, then to account for deviations of the actual cost of products from their cost at discount prices, a subaccount “Deviation of the actual cost of finished products from the record price” is opened in account 43 “Finished products”. Such deviations are recorded for homogeneous groups of finished products, which are formed by the organization based on the level of deviations of the actual cost at the prices of individual products accepted for accounting.

The excess of the actual cost over the accounting value is reflected in the debit of the subaccount and the credit of the cost accounting accounts. If the actual cost is lower than the book value, then the difference is reflected in a reversal entry.

This method is more suitable for single and small-scale production or for the production of mass products of a small range. In this case, finished products in the warehouse are reflected based on the cost of raw materials, materials, semi-finished products, energy used in their production, accrued depreciation of equipment, wages of workers, etc. Moreover, the cost of components that are used in the production of products may change, since their prices are constantly rising, so different batches of finished products will be listed in the warehouse at different prices.

Reflecting in the accounting of transactions for the receipt of finished products from production to warehouse in this case, as a rule, does not cause problems - production costs are written off from account 20 “Main production” to account 43. At the same time, general production and general business expenses are preliminarily written off to account 20. In addition, account 20 includes the cost of work and services of auxiliary production. In some cases, the cost of work and services of service industries and farms recorded on account 29 “Service production and farms” may also be written off to account 20.

The balance of account 20 after the capitalization of finished products corresponds to the volume of work in progress.

An important requirement of PBU 1/98 is the requirement of prudence (in theory it is called the principle of conservatism); According to him, the accountant must be “more willing to recognize expenses and liabilities in accounting than possible income and assets.” This means that if the estimated selling price of finished products falls below the actual cost, then the valuation of finished products must be carried out at sales (current market) prices. When drawing up a balance sheet, a decrease in the cost of finished products is reflected in accounting by accruing a reserve to the debit of account 91 “Other income and expenses” and the credit of account 14 “Reserve for a decrease in the cost of material assets.”

In the future, when finished products are disposed of or when their current market value increases, the corresponding amount of the reserve is applied to the increase in the financial result in the debit of account 14 and the credit of account 91.

Analytical accounting for account 43 is carried out by storage locations and individual types of finished products by brands, articles, models and other distinctive features. In addition, accounting should be kept for enlarged product groups: products of main production, products made from waste, consumer goods, spare parts, etc.

Shipment and release of finished products are carried out by the warehouse on the basis of invoice orders, which consist of two documents: an order to the warehouse and an invoice for release. The order to the warehouse is issued in accordance with the terms of the contract with the buyers, indicating the name of the buyer, the quantity and range of products, and the shipment period. The basis for issuing an invoice for the release of finished products at the warehouse is an order from the head of the organization or a person authorized by him, as well as an agreement with the buyer (customer).

Based on invoices for the release of finished products and other similar primary documents, the organization (usually the sales department) issues invoices in the established form in two copies, the first of which is sent (transferred) to the buyer no later than 5 days from the date of shipment of the product (goods). , and the second remains with the supplier organization for reflection in the sales book and calculation of value added tax.

Upon shipment, the railway station issues a waybill, which accompanies the cargo along the way, and the sender is issued a receipt for the railway waybill. The railway waybill data is recorded in the invoice and payment documents, which are submitted to the bank or transferred to the buyer.

The accounting policies of the organization must reflect the methods used by the organization to evaluate finished products when they are released into production and other disposals.

In accordance with clause 16 of PBU 5/01, the following methods for assessing finished products upon disposal are established:

At the cost of each unit;

At average cost;

At the cost of the first acquisitions of inventories (FIFO method).

An organization can use various methods for valuing finished products, but for each group (type) of inventory during the reporting year, only one valuation method should be used.

Clause 18 of PBU 5/01 clarifies the procedure for valuing inventories at average cost. In accordance with this paragraph, the assessment of finished products at average cost is carried out for each group (type) of inventory by dividing the total cost of the group (type) of inventory by their quantity, consisting respectively of the cost price and the amount of balance at the beginning of the month and the inventory received during the given month.

Sales and other disposals of finished products are reflected in the credit of account 43 “Finished products” and the debit of accounts 90 “Sales”, 76 “Settlements with various debtors and creditors”, etc. (Table 6.2). This correspondence shows the sale of products as planned, indicating the actual cost at the end of the financial year by additional posting or the “red reversal” method for the amount of the difference between the planned and actual cost.

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.”

Account 45 “Goods shipped” is lawfully used to account for shipped goods (products) in the following cases:

To account for goods shipped under an exchange agreement before its execution, i.e., receipt of counter goods. According to Art. 569 of the Civil Code of the Russian Federation, an exchange agreement is considered fulfilled after both parties fulfill their obligations to supply goods. Consequently, goods shipped under an exchange agreement are accounted for in account 45 before the transfer of ownership;

To account for goods shipped by the principal under a commission agreement or other intermediary agreement. In accordance with Art. 996 of the Civil Code of the Russian Federation, ownership passes to the buyer from the principal according to the commission agent’s message about the shipment to the buyer. Until this moment, goods from the principal are accounted for as own funds in account 45. The balance on account 45 with the commission agent reflects the cost of goods transferred to the commission agent, but not yet sold, since goods transferred to the commission remain the property of the principal until they are actually sold to customers;

To account for goods shipped under purchase and sale (supply) agreements with a special procedure for the transfer of ownership. According to Art. 223 of the Civil Code of the Russian Federation, the right of ownership of the acquirer of a thing under a contract arises from the moment of its transfer, unless otherwise provided by law or contract. Therefore, if the contract provides for a different procedure for the transfer of ownership (for example, upon payment for goods), goods shipped but not paid, being the property of the supplier, must be recorded on the supplier’s balance sheet in account 45 until the buyer pays for these goods, i.e. i.e. until the ownership rights are transferred to the buyer.

When customers are presented with payment documents for shipped products, the products recorded on account 45 are written off to account 90, subaccount 2 “Cost of sales”.

Account 45 “Goods shipped” also takes into account products and goods transferred to other organizations under a commission agreement, since when selling products through an intermediary under a commission agreement, the ownership of the product does not pass to the intermediary.

When products and goods are released, they are written off from the credit of account 43 “Finished products” to the debit of account 45 “Goods shipped”. When a commission agent’s report on the sale of products and goods transferred to him is received, they are written off from the credit of account 45 “Goods shipped” to the debit of account 90 “Sales”, subaccount 2 “Cost of sales”, with simultaneous reflection in the debit of account 62 “Settlements with buyers and customers” and credit account 90 “Sales”, subaccount 1 “Revenue”.

Analytical accounting for account 45 “Goods shipped” is carried out by location and individual types of shipped products (goods).

Correct accounting and evaluation of finished products in organizations are important for determining the value of the financial result generated on the synthetic account 90 “Sales”. When accounting for sales revenue, the shipment method (accrual basis) is currently used. At the same time, according to PBU 9/99, the criteria under which sales revenue is recognized should be strictly adhered to:

The organization's right to receive this revenue;

The amount of revenue can be determined;

Confidence that the economic benefits of the organization will increase as a result of a particular transaction;

Ownership of the product has passed from the organization to the buyer;

The expenses that have been incurred or will be incurred in connection with this operation can be determined.

If at least one of the above conditions is not met in relation to cash and other assets received by the organization as payment for sold finished products, then the organization's accounting records accounts payable, not revenue.

The revenue indicator from product sales is interpreted in accordance with current legislation as follows:

In accounting, this is the amount for which the buyer is presented with payment documents for payment for shipped products;

In taxation, this is the amount of money received for products shipped, work (services) performed, or the amount for which documents for payment were presented to the buyer;

According to Art. 40 of the Tax Code of the Russian Federation, for tax purposes, the price of goods indicated by the parties to the transaction is accepted. The same article stipulates that tax authorities have the right, in certain cases, to control the correct application of prices by the parties.

When organizing production cost accounting, expenses associated with the operation of the organization's own transport (transport department costs) are, as a rule, taken into account in the auxiliary production account.

Part of these expenses associated with the performance of work on transporting finished products, payable by buyers in addition to the price of finished products, is written off from the credit of the auxiliary production account to the debit of the selling expenses account.

The organization's costs associated with the shipment and sale of products and taken into account as part of the full cost of production are called business expenses.

Expenses associated with the sale of products, goods, works and services are recorded in account 44 “Sales expenses”. In organizations engaged in industrial and other production activities, the following expenses can be reflected on account 44:

For packaging and packaging of products in finished product warehouses;

For delivery of products to the departure station (pier), loading into wagons, ships, cars and other vehicles;

Commission fees (deductions) paid to sales and other intermediary organizations;

For entertainment expenses;

Other expenses similar in purpose.

The procedure for distributing transportation costs between the seller and the buyer depends on how much these costs are taken into account in the price of the product. In the so-called basic terms of delivery, the parties indicate the place where the seller must deliver the products at his own expense. In these cases, the price of the product is said to be fixed ex-locally.

When setting selling prices, it is indicated ex-franco, i.e. at whose expense the costs of delivering products from the supplier to the buyer are paid:

Ex-warehouse of the supplier, when all the costs associated with the shipment (cost of loading and unloading at the warehouse, at the departure station, cost of transportation to the departure station, railway tariff, water freight), the supplier includes in the invoice to the buyer, and the buyer pays all these costs above the cost of production;

Free departure station, when the supplier covers the costs of shipment to the departure station from sales proceeds, and the cost of loading into vehicles at the departure station and the cost of transportation to the destination station is included by the supplier in the invoice to the buyer as a separate amount in addition to the cost of the product;

Ex-wagon-departure station, when the supplier covers from the sales proceeds all costs of shipment to the departure station and loading of products into the wagon, and in the invoice to the buyer includes in a separate amount only the cost of the railway tariff from the departure station to the destination station;

Free destination station, when the supplier covers all costs for shipping products to the destination station from sales proceeds, and all other costs associated with delivering products from the destination station to the buyer’s warehouse are reimbursed by the buyer;

Ex-warehouse of the buyer, when the supplier bears all costs for shipping products at his own expense and, in addition, pays at his own expense for loading and unloading costs at the destination station, transportation of products to the buyer’s warehouse and loading and unloading operations at the buyer’s warehouse.

The use of a specific type of ex-price is provided for in the supply agreement.

Expenses for the transportation of finished products made by third-party organizations and persons are recorded as a debit to the credit account of the corresponding cash accounts or accountable amounts, including the paid amounts of value added tax on them.

Expenses subject to reimbursement by buyers of finished products are written off from the above settlement account with a debit to the account for settlements with buyers, including the amount of value added tax due (paid) to a third-party transport organization. This amount of value added tax is presented to the buyer of the product for payment.

Recently, advance payment for supplied products has been widely used. Please note that in accordance with the chart of accounts, the amounts of advances received are recorded in account 62 “Settlements with buyers and customers”.

When pre-paying for a delivery, the amounts of received payments are reflected in accounting until the moment of shipment of the products as accounts payable and are recorded in the accounting entry debit of account 51 “Settlement accounts”, credit of account 62, sub-account “Settlements for advances received”.

After the products are shipped, an entry is made in the accounting records as a debit to the subaccount “Settlements for advances received” and a credit to account 62 “Settlements with buyers and customers.”

The organization can use part of the finished product for its own needs, including for capital construction, for service industries and farms, and for other economic needs. Such material assets are credited at their actual production cost to the debit of the corresponding accounts for accounting for material assets (depending on their further purpose) from the credit of account 43 “Finished products”.

Inventory of finished products is carried out in the same way as for materials. When taking inventory of goods shipped, not paid for on time by buyers, located in the warehouses of other organizations, the validity of the amounts listed in the relevant accounting accounts is checked.

Discrepancies identified during the inventory between the actual availability of finished products and accounting data are reflected in the following order:

a) surplus inventories are accounted for at market prices and at the same time their value is included:

In commercial organizations - on financial results,

In non-profit organizations - to increase income;

b) amounts of shortages and damage to inventories are written off from accounting accounts at their actual cost, which includes the contractual (accounting) price of the inventory and the share of transportation and procurement costs related to this inventory. The procedure for calculating the specified share is established by the organization independently. In accounting, this operation is reflected in the debit of account 94 “Shortages and losses from damage to valuables” and the credit of inventory accounts - in terms of the contractual (accounting) price of the inventory. By the debit of account 94 “Shortages and losses from damage to valuables” and the credit of account 16 “Deviation in the cost of material assets” - when using in the accounting policy of the organization accounts for the procurement and purchase of materials or the corresponding subaccount to the inventory accounts in terms of the share of transportation and procurement costs.

Damaged inventories that can be used in the organization or sold (at a discount) are simultaneously accounted for at market prices, taking into account their physical condition, with losses from spoilage reduced by this amount.

Shortages of inventories and their damage are written off from account 94 “Shortages and losses from damage to valuables” within the limits of natural loss rates to the accounts of production costs and/or sales expenses; above the norm - at the expense of the perpetrators. If the perpetrators are not identified or the court refuses to recover damages from them, then losses from shortages of inventories and their damage are written off to the financial results of a commercial organization or to the increase in expenses of a non-profit organization. Attrition rates can only be applied in cases where actual shortages are identified.

The shortage of inventories within the established norms of natural loss is determined after offsetting the shortage of inventories with surpluses by misgrading. If, after the re-grading offset, carried out in the prescribed manner, there is still a shortage of inventories, then the norms of natural loss should be applied only for the name of the inventories for which the shortage was established. In the absence of norms, the loss is considered as a shortage in excess of the norms.

When taking inventory, you should separate the inspection of your own finished products and products that do not belong to the organization as property. Finished products can be taken into account off the balance sheet in the case where the documents of the system of normative regulation of accounting provide for the obligation of the organization to accept them for safekeeping.

In accordance with accounting legislation, finished products are accepted for safekeeping, paid for and accepted by the buyer (customer) on site at the supplier (seller), but temporarily left with him by the buyer (customer) for safekeeping when the delay in shipment (dispatch, removal) of the products is caused by technical and other valid reasons.

In accordance with the Instructions for the application of the Chart of Accounts, supplier organizations take into account in account 002 “Inventory assets accepted for safekeeping” goods and materials paid for by buyers, which are left in safe custody, documented with safekeeping receipts, but not taken out for reasons not depending on the organizations. Inventory assets are recorded on account 002 “Inventory assets accepted for safekeeping” at the prices specified in the acceptance certificates or in invoices and payment requirements.

Analytical accounting for account 002 is carried out by owner organizations, by type, grade and storage location.

In accounting, the operation of accepting finished products for safekeeping is reflected by an entry that increases the balance in account 002. When the circumstances under which the organization is obliged to accept products for safekeeping cease, the amounts previously attributed to account 002 are written off (without correspondence for other accounting accounts).

Since during the entire storage period responsibility for the safety of accepted products lies with the supplier organization, it seems legitimate to record these products at negotiated prices - regardless of what method of accounting for finished products is used in the organization. This is due at least to the fact that if economic disputes arise, the amount corresponding to the payment made or a previously carried out assessment will be brought as a claim.

1. What is usually called “finished products” in accounting?

2. What tasks should accounting for finished products ensure?

3. What are the primary documents for accounting for the movement of finished products?

4. What is the difference between accounting for materials and accounting for finished products?

5. How is quantitative accounting of finished products organized by type and storage location?

6. What methods of accounting for finished products are used when maintaining warehouse records?

7. What are the features of organizing accounting of shipped products?

8. In what ways and on what accounts are finished products recorded?

9. What methods exist for assessing finished products? What are the features of each of them?

10. How is synthetic and analytical accounting of finished products carried out?

11. Why are accounting prices for finished products necessary?

12. Name the composition of sales expenses.

13. What are the features of accounting for finished products using account 40?

14. How is accounting organized on account 45?

1. To reflect the operation of the movement of finished products, use the following account:

a) 40 “Release of products (works, services”);

b) 43 “Finished products”;

c) 20 “Main production”.

2. The method used by the organization for estimating the cost of finished products in accounting depends on:

a) on the industry characteristics of the business;

b) on the volume of activity of the organization;

c) on the rules for the formation of the cost of finished products for the purposes of calculating income tax;

d) the choice specified in the entity's accounting policies.

3. Finished products manufactured for use within the organization itself are accounted for:

a) 43 “Finished products”;

b) 10 “Materials”;

c) 43 “Finished products” or 10 “Materials”.

4. Which of the following criteria are required for revenue recognition in accounting:

a) the products have been paid for by the buyer;

b) title to the product has passed to the buyer;

c) the sale was made above the cost of production?

5. The organization shipped the products to the buyer on November 15. According to the terms of the contract, ownership of the products will pass to the buyer only after payment. The buyer has not yet paid for the products:

a) the organization did not have the right to ship the products to the buyer;

b) sales of products should be reflected as the products are shipped;

c) the cost of production should be reflected in account 45.

6. In order for the cost of finished products to be charged to account 45, the following condition must be met:

a) if the proceeds from the sale cannot be recognized in accounting for a certain time;

b) the organization has chosen the cash method for determining sales revenue;

c) if the purchase and sale agreement provides for a different procedure for the transfer of ownership of goods from the general one.

7. The sales of products are recorded on the following account:

a) 90 “Sales”;

b) 91 “Other income and expenses”;

c) 43 “Finished products”.

8. When accounting for finished products at actual production costs, calculation of deviations from the cost at accounting prices is carried out:

a) for all finished products;

b) for each item of finished product;

c) for homogeneous groups of finished products.

9. The organization applies the method of accounting for the cost of finished products at standard cost. At the end of the month, it was revealed that actual production costs were less than planned. The amount of the difference is reflected in accounting:

a) Dt account 43, Kt account 40;

b) Dt invoice 40, Kt invoice 90 reversal;

c) Dt account 40, Kt account 90.

10. Distribution of selling expenses between various activities of the organization:

a) is not produced;

b) produced in proportion to the cost of sold finished products at actual cost or accounting prices;

c) is made in proportion to the cost of sold finished products at actual cost or accounting prices, except for packaging and transportation costs, which are written off directly.

11. The formation of the cost of work performed and services provided for activities that do not have work in progress is reflected by posting:

a) Kt accounts 20 and 23, Dt accounts 43;

b) Kt account 43, Dt account 90;

c) Kt accounts 20 and 23, Dt accounts 90.

12. Reflect the transaction on the accounts: shipped, sold finished products are written off at standard cost:

a) Dt account 40, Kt account 43;

b) Dt account 43, Kt account 40;

c) Dt account 90, Kt account 43.

13. When transferring goods for sale on a commission basis, they are recorded in the account:

a) 62 “Settlements with buyers and customers”;

b) 45 “Goods shipped”;

c) 90 “Sales”.

14. On account 43 “Finished products”, finished products can be taken into account:

a) both at actual and standard (planned) costs;

b) only at actual production costs;

c) only at standard (planned) cost.

15. VAT on products sold is reflected in the accounting entry:

a) Dt account 19, Kt account 68;

b) Dt account 91-3, Kt account 68;

c) Dt account 90-3, Kt account 68.

16. A shortage of finished products was identified as a result of the inventory:

a) Dt account 90, Kt account 40;

b) Dt account 94, Kt account 43;

c) Dt account 43, Kt account 94.

Concept and evaluation of finished products, works, services. According to the Methodological Guidelines for Accounting for Inventories, finished products are part of inventories intended for sale, the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents in cases established by law.

Works and services are the cost of various works (design, equipment repair, etc.) and services (consulting, transport, etc.) performed and provided to other organizations and individuals (including employees of the organization) on the terms payment.

Finished products, as a rule, must be transferred from production to a warehouse and report to the financially responsible person. Large-sized products and products that cannot be delivered to the warehouse for technical reasons are accepted by the customer’s representative at the site of their manufacture, packaging and assembly. Planning and accounting of finished products are carried out in natural, conditionally natural and cost indicators. Conditional natural indicators are used to obtain generalized data about homogeneous products. For example, the amount of caustic soda produced is expressed in tons of conventional weight, canned food - in conventional cans, etc.

The following can be used as accounting prices for finished products:

Actual production cost (full and incomplete),

Standard cost (full and incomplete),

Negotiable prices,

Other types of prices.

Actual production costs are used mainly for single small-scale production, as well as for the production of mass products of a small range. It is advisable to use standard cost as accounting prices in industries with a mass and serial nature of production and with a large range of finished products. The advantages of these accounting prices are: convenience in carrying out operational accounting of the movement of finished products, stability of accounting prices and unity of assessment in planning and accounting. Negotiated prices are used mainly when such prices are stable. When using contractual and other types of prices as accounting prices, it is necessary to calculate at the end of the month the deviation of the actual production cost of products from their cost at accounting prices in order to distribute this deviation to the shipped (sold) products and their balances in warehouses. For this purpose, a special calculation is made using the weighted average percentage of deviations of the actual cost of production from its cost at accounting prices. A similar calculation is made when using incomplete production costs. This calculation is not necessary if the organization uses account 40 “Output of products (works, services)” to record production output.

In practice, calculations are made for homogeneous groups of goods (with approximately the same profitability), which ensures greater accuracy in calculating deviations. Documentation of the movement of finished products. Receipt of finished products from production is documented with invoices, specifications, acceptance certificates and other primary documents. The release of finished products to customers is usually documented using invoices.

As a standard form of an invoice, you can use form No. M-15 “Invoice for the release of materials to the side.” Depending on the industry specifics, organizations can use specialized forms of invoices and other primary documents indicating the required details. The basis for issuing invoices is the orders of the head of the organization or an authorized person, as well as an agreement with the buyer (customer). Methodological recommendations for accounting for inventories recommend the following procedure for accounting for the issue of finished products: 1. Invoice forms No. M-15 are issued at the warehouse or in the sales department in four copies, and all of them are transferred to the accounting department for registration in the log of invoices for the issue of finished products and signatures their chief accountant or a person authorized by him.

2. From the accounting department, signed invoices are returned to the sales department (or another similar division of the organization). One copy of the invoice is transferred to the storekeeper (or other financially responsible person), the second serves as the basis for issuing an invoice, the third and fourth are transferred to the recipient of the finished product. The recipient must sign for receipt on all copies of the invoice.

3. When exporting products through a checkpoint, one copy of the invoice (the fourth) remains with the security service, and the third copy is transferred to the recipient as an accompanying document for the cargo.

4. The security service records the invoices in the cargo registration log and then transfers them to the accounting department according to the inventory, where they make notes about the export in the log of invoices for the export (sale) of finished products. 5. It is recommended to issue invoices in the form established by Decree of the Government of the Russian Federation dated January 19, 2000 No. 46 “On amendments to the Procedure for maintaining invoice journals for value added tax calculations”, in two copies. The first copy is sent or transferred to the buyer no later than 10 days from the date of shipment of the product, and the second copy remains with the supplier organization for reflection in the sales book and VAT calculation.

Accounting for finished products in storage areas (warehouses) and in the accounting department. Quantitative accounting of finished products by their types and storage locations is usually carried out similarly to inventory accounting, i.e., in materials accounting cards. Recently, many organizations have been using a cardless method of accounting for finished products, in which, with the help of a computer, daily turnover sheets are compiled to record the release from production and the movement of finished products in relation to warehouses (other storage locations). Remains of finished products are periodically inventoried. In automated warehouses, instead of warehouse accounting cards, as a rule, operational machines and videograms of balances and movement of finished products for each item and type are used. As with material inventories, a nomenclature-price tag is drawn up for finished products. In addition to the price tag, product directories are being developed, which contain information about products subject to and exempt from various types of taxes, payers and consignees, average quarterly and average annual costs, etc.

The movement of finished products in accounting is taken into account in the same way as materials accounting. In addition, data on payment requests for shipped products are recorded daily in the record of accounting and sales of products (works, services) (Form No. 16). The statement indicates the date and number of the payment request, the name of the supplier, the quantity of products shipped by type, the amounts submitted for invoices, and a note on payment of invoices. The statement is a form of analytical accounting of goods shipped. Finished products are reflected in the statement at accounting and selling prices. Accounting for production at actual cost. Accounting for the availability and movement of finished products is carried out on active account 43 “Finished products”. This account is used by organizations in the material production industries.

Finished products purchased for assembly or as goods for sale are recorded in account 41 “Goods”. The cost of work performed and services provided to third parties is also reflected in account 43 “Finished products”. The actual costs for them are written off from the production cost accounts to the debit of account 90 “Sales”. Products that are not subject to delivery on site and are not documented with an acceptance certificate remain as part of work in progress and are not taken into account in account 43 “Finished products”. Synthetic accounting of finished products can be carried out in two options: without using account 40 “Output of products (works, services)” and using account 40. In the first option, which is traditional for our accounting practice, finished products are accounted for on synthetic account 43 “Finished products "at actual production cost. However, analytical accounting of certain types of finished products is carried out, as a rule, at accounting prices (standard cost, contract prices, etc.), highlighting deviations of the actual cost of finished products from the cost at accounting prices of individual products and taken into account in a separate analytical account.

The capitalization of finished products at accounting prices is recorded as an accounting entry to the debit of account 43 “Finished products” and the credit of account 20 “Main production”. At the end of the month, calculate the actual cost of capitalized finished products from their cost at accounting prices and write off this deviation from the credit of account 20 “Main production” to the debit of account 43 “Finished products” using the additional accounting entry method or the “red reversal” method. If the finished product is fully used in the organization itself, then it can be credited to the debit of account 10 “Materials” and other similar accounts from the credit of account 20 “Main production”. Agricultural organizations take into account the movement of agricultural products during the year at the planned cost, and at the end of the year it is brought to the actual cost. Finished products shipped or delivered locally, depending on the delivery conditions specified in the product supply agreement, are written off at accounting prices from the credit of account 43 “Finished Products” to the debit of account 45 “Goods Shipped” or 90 “Sales”.

At the end of the month, the deviation of the actual cost of shipped (sold) products from their cost at accounting prices is determined and written off from the credit of account 43 with an additional entry or using the “red reversal” method to the debit of account 45 or 90. Finished products transferred to other organizations for sale on a commission basis , write off from the credit of account 43 to the debit of account 45 “Goods shipped”. When using account 40 “Output of products (works, services)” to account for production costs, synthetic accounting of finished products is carried out on account 43 at standard or planned cost. The debit side of account 40 reflects the actual cost of products (works, services), and the credit side reflects the standard or planned cost. The actual production cost of products (works, services) is written off from the credit of accounts 20 “Main production”, 23 “Auxiliary production”, 29 “Service production and facilities”, etc. to the debit of account 40.

The standard or planned cost of products (work, services) is written off from the credit of account 40 to the debit of accounts 43 “Finished Products”, 90 “Sales” and other accounts (10, 11, 21, 28, 41, etc.). By comparing debit and credit turnover on account 40 on the 1st day of the month, the deviation of the actual cost of production from the standard or planned cost is determined and written off from the credit of account 40 to the debit of account 90 “Sales”. In this case, the excess of the actual cost of production over the standard or planned cost is written off by additional posting, and the savings are written off using the “red reversal” method. Account 40 is closed monthly and has no balance at the reporting date. When using account 40, there is no need to make separate calculations of deviations of the actual cost of products from their cost at accounting prices for finished, shipped and sold products, since the identified deviation for finished products is immediately written off to account 90 “Sales”.

In the balance sheet, finished products are reflected:

At actual production cost (if account 40 is not used);

At standard or planned cost (if account 40 is used);

At incomplete (reduced) actual cost (for direct items of expenses), when general business expenses are written off from account 26 “General expenses” to the debit of account 90 “Sales”;

At incomplete standard or planned cost (when using account 40 and writing off general business expenses from account 26 to account 90).

Accounting and evaluation of shipped products. As already noted, finished products and shipped goods can be reflected in accounting and balance sheet:

At the full actual production cost (if accounting does not use account 40 “Output of products (works, services)” and general business expenses are written off to accounts 20, 23, 29);

At incomplete actual production costs (if account 40 is not used in accounting and expenses are written off from account 26 to account 90);

At the full standard or planned cost (if accounting uses account 40 and from account 26 expenses are written off to accounts 20, 23, 29);

For incomplete standard or planned cost of production (for direct items of expenses, when account 40 is used and general business expenses are written off to account 90).

Finished products shipped or presented to customers at sales prices (including VAT and excise taxes) are reflected in the debit of account 62 “Settlements with buyers and customers” and the credit of account 90 “Sales”. At the same time, the cost of products shipped or presented to the buyer is written off to the debit of account 90 “Sales” from the credit of account 43 “Finished products”. If revenue from the sale of shipped products cannot be recognized in accounting for a certain time (for example, when exporting products), then account 45 “Goods shipped” is used to account for such shipped products.

When the specified products are shipped, they are written off from the credit of account 43 “Finished products” to the debit of account 45 “Goods shipped”. After receiving a notice of recognition of revenue from the sale of products, the supplier writes it off from the credit of account 45 “Goods shipped” to the debit of account 90 “Sales”. At the same time, the cost of products at the selling price (including VAT and excise taxes) is reflected in the credit of account 90 and the debit of account 62 “Settlements with buyers and customers”. Account 45 “Goods shipped” also indicates finished products and goods transferred to other organizations for sale on commission and other similar basis. When such products are released, they are written off from the credit of account 43 “Finished products” to the debit of account 45 “Goods shipped”. When a notice is received from a commission agent about the sale of products transferred to him, they are written off from the credit of account 45 “Goods shipped” to the debit of account 90 “Sales” with simultaneous reflection in the debit of account 62 “Settlements with buyers and customers” and the credit of account 90 “Sales”.

The cost of completed work and services provided is written off at actual or standard (planned) cost from the credit of account 20 “Main production” or 40 “Output of products (works, services)” to the debit of account 90 “Sales” as invoices are presented for work and services performed. . At the same time, the amount of revenue is reflected in the credit of account 90 “Sales” and the debit of account 62 “Settlements with buyers and customers”.

Accounting for sales expenses. To account for sales expenses, use active account 44 “Sales expenses”. The debit of this account takes into account the costs of sales from the credit of the corresponding material, settlement and cash accounts:

10 “Materials” – for the cost of consumed containers;

23 “Auxiliary production” – for the cost of services for sending products from the warehouse to the station (pier, airport) of departure or to the buyer’s warehouse using the company’s vehicles;

60 “Settlements with suppliers and contractors” – for the cost of services for sending products to the buyer, provided by third parties;

70 “Settlements with personnel for wages” - for the payment of workers accompanying the products and other accounts. Analytical accounting for account 44 is carried out in the statement of accounting for general business expenses, deferred expenses and sales expenses according to the previously indicated expense items by type and item of expense. At the end of each month, selling expenses are written off to cost of goods sold. They are applied directly to certain types of products, and if it is not possible, they are distributed in proportion to their production costs, the volume of products sold at the organization’s wholesale prices or in another way. Write-off of selling expenses is recorded using the following accounting entry: D-t 90 K-44 Write-off of selling expenses. If only part of the manufactured products is sold in the reporting month, then the amount of sales expenses is distributed between sold and unsold products. Methods for distributing sales costs between types of shipped products with partial write-off of costs to the cost of production.

When partially writing off sales expenses, the following types of expenses are subject to write-off (to account 90) and distribution:

In organizations engaged in industrial and other production activities - packaging and transportation costs (between individual types of shipped products on a monthly basis based on their weight, volume, production cost or other relevant indicators);

In organizations engaged in trading and other intermediary activities - transportation costs (between the goods sold and the balance of goods at the end of each month);

In organizations that procure and process agricultural products, debit accounts 15 “Procurement and acquisition of material assets” (expenses for the procurement of agricultural raw materials) and 11 “Animals for growing and fattening” (expenses for the procurement of livestock and poultry).

All other expenses associated with the sale of products (goods, works, services) are written off monthly to the cost of products sold (goods, works, services).

In trade organizations, the amount of distribution and production costs related to the balance of goods at the end of the month is calculated according to the average percentage of distribution and production costs for the reporting month, taking into account the carryover balance at the beginning of the month in the following order:

1) transportation costs for the balance of goods at the beginning of the month and goods produced in the reporting month are summed up;

2) the amount of goods sold in the reporting month and the balance of goods at the end of the month is determined;

3) the ratio of the amount of distribution and production costs determined in clause 1 to the amount of goods sold and remaining (clause 2) determines the average percentage of distribution and production costs from the total cost of goods;

4) by multiplying the amount of the balance of goods at the end of the month by the average percentage of these expenses, their amount related to the balance of unsold goods at the end of the month is determined.

Concept and evaluation of goods. Goods are part of inventories acquired or received from other legal entities and individuals and intended for sale. The procedure for assessing goods is determined by PBU 5/01 “Accounting for inventories”, according to which goods are accepted for accounting at actual cost. The actual cost of goods purchased for a fee is the amount of the organization's actual costs for the acquisition (taking into account amount differences) excluding VAT and other refundable taxes; received under a gift agreement or free of charge - their market value; received under agreements providing for the fulfillment of obligations in non-monetary means - the value of assets transferred or to be transferred by the organization.

Organizations engaged in trading activities may include the costs of procuring and delivering goods to central warehouses (bases), incurred before they are transferred for sale, as part of sales costs. Organizations engaged in retail trade can evaluate purchased goods at their selling price with separate consideration of markups (discounts). When goods are released for sale or otherwise disposed of (except for goods accounted for at sales value), they are assessed in one of the following ways: at unit cost; at average cost; at the cost of the first goods purchased (FIFO method); at the cost of the most recent acquisition of goods (LIFO method).

Accounting for goods in wholesale and retail trade. Methods for evaluating goods. Organizations carrying out trading activities, on account 41 “Goods”, in addition to inventory items acquired as goods for sale, also take into account purchased containers and containers of their own production (except for inventory, used for production or economic needs and accounted for on accounts 01 “Main means" or 10 "Materials"). Sub-accounts can be opened for account 41 “Goods”:

41-1 "Goods in warehouses";

41-2 "Goods in retail trade";

41-3 “Containers under goods and empty”, etc.

Subaccount 41-1 “Goods in warehouses” takes into account the availability and movement of goods located in wholesale and distribution bases, warehouses, storerooms of organizations providing catering services, vegetable storehouses, refrigerators, etc. Subaccount 41-2 “Goods in retail trade" take into account the availability and movement of goods in retail trade organizations (shops, tents, stalls, kiosks, etc.), as well as in buffets of public catering organizations. On the same sub-account, these organizations take into account the presence and movement of glassware (bottles, cans, etc.). Subaccount 41-3 “Containers under goods and empty” takes into account the presence and movement of containers under goods and empty containers (except for glassware in retail trade organizations and buffets of public catering organizations).

Purchased goods and packaging are accepted by trade organizations for accounting under account 41 “Goods” at the cost of their acquisition. Goods accepted for accounting are reflected in the debit of account 41 and the credit of account 60 “Settlements with suppliers and contractors” and other accounts. Receipt of goods can be reflected using account 15 “Procurement and acquisition of material assets” in a manner similar to accounting for corresponding operations with materials. In accordance with PBU 5/01 (clause 13), trade organizations can include costs for the procurement and delivery of goods to central warehouses (bases), incurred before the goods are transferred for sale, as part of sales costs.

Retail trade organizations are allowed to evaluate purchased goods at sales (retail) prices with separate consideration of markups (discounts). In this case, received goods are received at the cost of acquisition in the debit of account 41 and the credit of account 60 and other accounts. At the same time, account 41 is debited for the difference between the cost of purchasing goods and their cost at sales prices and account 42 “Trade margin” is credited. The procedure for recording the sale of goods by trade organizations is carried out in the same way as in production organizations. When recognizing revenue from the sale of goods upon their shipment (release), they are written off from the credit of account 41 to the debit of account 90 “Sales”.

If the proceeds from the sale of shipped (issued) goods cannot be recognized in accounting for a certain time, then the goods released are written off from the credit of account 41 to the debit of account 45 “Goods shipped”, and after recognizing the revenue - to the debit of account 90 from the credit of account 45. Goods transferred for processing to other organizations are not written off from account 41. On account 41 they are counted separately. Goods accepted for safekeeping and commission are recorded in off-balance sheet accounts 002 “Inventory accepted for storage” and 004 “Goods accepted for commission.” Analytical accounting for account 41 is carried out by responsible persons, names (grades, batches, bales), and, if necessary, by storage location of goods. Features of using account 42 "Trade margin". Account 42 “Trade margin” is intended to summarize information about trade margins (discounts, markups) on goods in retail organizations that keep records of goods at sales prices. This account also takes into account discounts provided by suppliers to retail organizations for possible losses of goods, as well as for reimbursement of additional transportation costs.

Retail trade organizations that keep records of goods at sales prices usually capitalize goods received from suppliers using an accounting entry to debit account 41 “Goods” and credit account 60 “Settlements with suppliers and contractors” at purchase prices. To bring the purchase price of capitalized goods to the value at sales prices, the difference between the cost of purchasing the goods and their value at sales prices is determined and account 41 is debited for this difference and account 42 “Trade margin” is credited. As goods are sold or disposed of for other reasons, the amount of the trade margin is written off from the credit of account 42 to the debit of account 90 “Sales” or 45 “Goods shipped” (for the sale of goods), 94 “Shortages and losses from damage to valuables” (for damage and shortage), 41 “Goods” (in case of natural loss) using the “red reversal” method.

The amounts of trade margins related to the goods remaining in the organization are clarified according to the inventory records by determining the applicable discount (mark-up) on goods in accordance with the established sizes. The amount of a discount or mark-up on the balance of unsold goods can be determined based on the ratio of the amount of discounts or mark-ups on the balance of goods at the beginning of the month and the turnover on the credit of account 42 (excluding reversal entries) to the amount of goods sold for the month and the balance of goods at the end of the month (according to sales prices). Analytical accounting for account 42 should ensure separate reflection of the amounts of discounts (mark-ups) and the difference in prices related to goods shipped and goods remaining in organizations.

Source - Fundamentals of Accounting. Financial Accounting. Accounting for production costs / V.R. Bank, A.A. Solonenko, T.A. Smelova, B.A. Kartashov: Textbook. allowance / VolgSTU. – Volgograd, 2006. – 68 p.

Finished products of the enterprise- this is part of the inventory intended for sale (the final result of the production cycle, assets completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents in cases established by law). Finished products are account 43 of the Chart of Accounts.

Analysis of finished products is carried out in the FinEkAnalysis program in the block Analysis of financial statements generated in accordance with IFRS.

Finished product accounting

Finished products can be accounted for at actual and planned costs. When accounting for finished products at actual cost, their release from production is carried out by posting D 43 - K 20 for the amount of the actual cost of manufactured products.

When accounting at standard (planned) cost, the internal production result of the enterprise's work is determined - savings or overexpenditure in production costs. This difference is determined on account 40 “Product output”. This account is a control and performance account: the debit of the account indicates the actual production cost of products, and the credit indicates the standard (planned) cost.

By comparing debit and credit turnovers, the deviation of the actual production cost from the planned one is revealed. Overspending is written off by an additional check, and savings are reversed (D 90 - K 40). Account 40 is closed monthly and has no balance.

Write-off of finished products is reflected in the credit of account 43 and is accompanied by a Write-off Certificate.

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Accounting for finished products is regulated by PBU 5/01 “Accounting for inventories”, approved by Order of the Ministry of Finance of Russia dated 06/09/2001 No. 44n, registered with the Ministry of Justice of Russia on 07/19/2001 No. 2806.

The procedure for organizing accounting of finished products on the basis of PBU 5/01 is determined in the guidelines approved by Order of the Ministry of Finance of the Russian Federation dated December 28, 2001 No. 119n, excerpts from which are given in this section.

Finished products are products and semi-finished products that are a product of the organization’s production process with fully completed processing (assembly), corresponding to current standards or approved technical specifications, accepted at the organization’s warehouse or by the customer.

The purpose of accounting for finished products is the timely and complete reflection in the accounting accounts of information about the release and shipment of finished products to the organization.

The main objectives of accounting for finished products are:

• correct and timely documentation of operations for the release, movement and release of finished products in the organization’s storage areas;
• control over the safety of finished products in storage areas and at all stages of movement;
• monitoring the implementation of production plans and sales of finished products;
• timely identification of unclaimed items of finished products for the purpose of their possible modernization or discontinuation of production;
• identifying the profitability of the entire range of finished products.

Released finished products must be transferred to the warehouse to the financially responsible person. Large products that cannot be delivered to the warehouse for technical reasons are accepted by the customer's representative at the place of production (release).

Planning and accounting of finished products are carried out in physical and cost terms. If there are no questions with natural indicators, then several methods are used to determine cost indicators (evaluation of finished products). Let's consider the main methods for assessing released finished products:

• at actual production cost. This method of assessing finished products is used at enterprises with single and small-scale production, as well as when producing mass products of a small range;
• at incomplete (reduced) production costs, calculated at direct (actual) costs without general and general production expenses. The technique can be used in production similar to the first method;
• at standard (planned) cost. Planned cost is used to evaluate manufactured product items of finished products. To organize the most informative accounting of finished products, it is recommended to determine the planned cost for each item. A distinctive feature of this methodology is the need to ensure separate accounting of deviations of the actual production cost of products from the planned or standard one. Deviations must also be taken into account by product range, but deviations can be taken into account for groups of finished products or for the organization as a whole. Thus, taking into account deviations in conjunction with the planned cost allows us to determine the actual production cost of the finished product.
  The advantage of this method of assessing finished products lies in the organization of a unified assessment system in planning and accounting, the implementation of operational accounting of the movement of finished products, and the stability of accounting prices. The use of this assessment option is advisable in industries with a mass and serial nature of production and with a large range of finished products;
• at negotiated prices, sales prices and other types of prices. Contract prices are used as firm accounting prices for manufactured products. Deviations of the actual production cost of products are taken into account in the same way as the previous assessment option. The scope of application of this method of assessing finished products also coincides with the previous version.

When forming accounting prices for each product item, it is advisable to take into account the rule of the correct ratio of product costs, i.e. two item items with the same actual cost must have the same accounting value. This is necessary for the correct distribution of deviations (deviations are distributed in proportion to the accounting value) for each product item.

Thus, if accounting prices and deviations from the actual cost are reflected for each item, the use of sales prices as accounting prices is not entirely correct, because the ratio of selling prices does not always correspond to the ratio of product costs (products may have the same selling price and different costs).

The actual cost of finished products depends on the cost accounting and costing methods used in the organization.

Synthetic accounting of finished products.

To account for the availability and movement of finished products of a material nature at manufacturing enterprises, active accounting account 43 “Finished products” is used. Regardless of the assessment methods, the release (receipt into the warehouse) of finished products manufactured for sale is reflected in the debit of account 43.

This section discusses the accounting of finished products of a material nature. The production of such products can be divided according to the purposes of their use as follows:

• general economic use (household equipment);
• general industrial use (tools);
• use in the further production cycle (semi-finished products).

Accounting schemes depend on the purposes for using finished products and on the evaluation methodology used at the enterprise.

If an enterprise produces a small range of products for its own needs, it is advisable to keep accounting records at incomplete (reduced) production costs and reflect the production (manufacturing) of products as a debit to account 10 “Materials” with a credit to cost accounts 23 “Auxiliary production”, 29 “Service production and farms."

If an enterprise carries out industrial production of a large assortment of products for the purpose of their further sale, active accounting account 43 “Finished Products” is used to record the availability and movement of finished products. In this case, it is advisable to keep accounting records at accounting prices (planned cost, contract prices). This is due to the fact that at the time of release and sale of finished products, the actual production cost is still unknown and its calculation, as a rule, occurs in the month following release (sales).

Finished product accounting scheme.

To reflect the output of finished products at accounting prices, active-passive account 40 “Output of products, works, services” is used. Product output is reflected in the debit of account 43 from the credit of account 40 at accounting prices (planned cost). By the time the actual production cost is formed, the credit balance of account 40 determines the standard cost of manufactured finished products. The actual cost is reflected in the debit of account 40 from the credit of cost accounting accounts 20 “Main production”, 23 “Auxiliary production”, 29 “Service production and facilities”. Thus, the resulting balance of account 40 determines the deviation of the actual production cost of manufactured products from the planned cost. A debit balance of account 40 indicates that the actual cost exceeds the planned one, a credit balance indicates the opposite. The magnitude of the deviation determines the correctness of the methodology for calculating the planned cost at the enterprise, and its large value means errors in the planned calculations.

Next, the balance of account 40 is written off to account 43 (the credit balance is reversed, the debit balance is reflected in the usual manner). It is advisable to divide account 43 into two sub-accounts: 43.1 – finished products at planned cost; 43.2 – deviations of actual costs from planned ones. The organization of analytical accounting on account 43 depends on the capabilities of the software used in the organization. If the software allows, on account 43 you can organize analytical accounting for item items and batches of products. Then the written-off balance of account 40 is distributed among the batches and product items of finished products released in the reporting period in proportion to the accounting prices. If technical capabilities do not allow, you can not maintain analytical accounting on account 43.2, and transfer the balance of account 40 to account 43.2 in one amount. Account 40 has no balance at the end of the month.

If an enterprise produces semi-finished products for further use in production processes, accounting for these semi-finished products is kept on account 21 “Semi-finished products of own production”.

Products that are not formalized with an acceptance certificate remain as part of work in progress.

Any enterprise operating on a commercial basis produces some product for sale. These are various types of goods, spare parts and materials for them, or services and certain types of work. For this reason, competent accounting of finished products is necessary for the effective operation of the enterprise.

The concept of finished products and their accounting

Finished product (FG) is a completed product that has been released as a result of production.

It must meet the requirements of GOSTs or technical specifications, undergo quality control, be assembled into a complete set and sent for storage to the warehouse of the enterprise or customer.

GPs are classified into several types:

• Gross- These are products produced by an enterprise over a certain period of time. Expressed in monetary terms and includes intermediate, completed and final products.
• Gross turnover- this is the totality of gross output for all workshops of the enterprise, including work of a production nature and the internal turnover of the organization for a certain period of time.
• Comparable Products- These are products that the company produced previously.
• Incomparable products- manufactured for the first time in the current reporting period

After production, finished products come under the control of the warehouse employee under financial responsibility. Receipts are recorded in quantitative terms, if necessary, divided into categories of goods. For accounting, a card or cardless method is used. GP warehouse balances are regularly checked.

Registration of finished products and primary documentation

For the final product, the following mandatory documents required when releasing goods from the warehouse must be prepared:

• declaration or certificate of conformity,
• hygienic certificate,
• quality certificate,
• packaging label and other papers corresponding to the product category, confirming its quality and completeness.

Without these documents, the company does not have the right to sell its goods.

All transactions carried out with the participation of a state enterprise are accompanied by primary documents. Each operation has its own established document form.

Receipt of finished products to the warehouse

This is carried out using the Invoice for the transfer of finished products to storage locations in the MX-18 form. It presents:

• from where and where the goods are transferred,
• correspondent account,
• basic information about the product,
• its characteristics.

The document is signed by the submitting and receiving persons, after which it is sent to the accountant.

This operation can also be carried out using the Acceptance and Delivery Note, which indicates data about the warehouse, workshop, quantity of goods being moved and information about it. At the same time, they use the Acceptance and Delivery Sheet and, simplifying warehouse accounting procedures.

Any movement of the GP within the warehouse premises is recorded in warehouse accounting cards () or the warehouse accounting book (form M-40). Cost indicators are reflected in accounting.

Shipment from the sales warehouse

Goods are regularly shipped from the warehouse, the registration of which is carried out using an invoice (), invoice for the release of materials to the outside () and an invoice order. All of these are types of waybills, which detail the categories of goods being shipped. The waybill must be supplemented by an invoice for payment (form No. 868) and an invoice, which can be separately sent to the counterparty’s accounting department within 5 days from the date of shipment.

Registration of the process of moving goods to the buyer is carried out with the help of a waybill for freight vehicles (form No. 4-P). These documents contain information about the cargo and the features of its transportation. To receive the goods, the buyer's representative must have a power of attorney to receive the goods.

Finished product accounting

From the point of view of PBU 5/01 “Accounting for inventories,” finished products are considered to be the organization’s inventories, the purpose of which is to be sold to make a profit. In the balance sheet, actual or planned cost is used to account for SOEs. The chosen method determines the further reflection of the goods on balance sheet accounts. WTP can be assessed using any of the following methods:

Actual cost

• Actual production cost. This is the totality of all expenses (including general expenses) for the production of a product. They are posted to account 20 “Main production”, which contains information about all production costs. Used for small production volumes.
• Incomplete production cost. This is a complex of all production expenses with the exception of general business expenses: salaries of management personnel, vacation and travel allowances, depreciation, etc. Thanks to such an assessment, “net” production costs are determined, which allows for effective planning of activities with the limited resources available.

At discounted prices

• Planned production cost. The method is applicable for large production volumes. The essence of the method is to determine the difference between actual and accounting costs, which then must be written off. Postings are made to account 40 “Release of products (works, services)” or to account 43 “Finished products”.
• Valuation at wholesale, negotiated prices. Applicable when selling prices are stable. But at the same time, it does not characterize the cost of GP. The method is based on the difference in types of costs, which are most often negative.
• Estimated at retail prices. The principle of operation of the method is similar to those described above in this category. Actively used today.

IMPORTANT! When determining the accounting prices of an item, it is important to adhere to a certain ratio of actual and accounting costs. In other words, products that have the same actual cost must have the same book price.

Accounting for finished products in transactions

For synthetic accounting of inventories in accounting, account 40 “Output of products (works, services)” or account 43 “Finished products” is used.

Count 40 is active-passive. It is used to collect general information about the products, works and services produced during the reporting period. The actual cost of the product is debited, and the planned cost is credited.

Capitalization of GP at accounting prices is carried out by the following posting:

• Dt 43 Kt 40

The actual cost of GP is taken into account as follows:

• Dt 40 Kt 20

At the end of the reporting period, a deviation () is identified for account 40, which must be written off. If there is an overexpenditure (debit balance), this is reflected by posting:

• Dt 90-2 Kt 40

Otherwise (if savings are made), the deviation is written off by reversal as follows:

• Dt 90-2 Kt 40

Account 40 is closed and, as a result, has no balance.

Write-off of the standard cost of sold GP is carried out:

• Dt 90-2 Kt 43

Released products can be taken into account immediately account 43"Finished products". Count 40 will not be needed in this case.

• Dt 43 Kt 20

This posting is accounted for by the GP at accounting prices. At the end of the month, a deviation between actual and accounting costs will be identified. If there is an overspend, then make another entry, writing off the deviation to the debit account: Dt 43 Kt 20. Otherwise, it is done.

The cost of products sold is written off by posting:

• Dt 90-2 Kt 43

Overexpenditure is written off in a similar way. If the accounting cost exceeds the actual cost, a reversal entry is made:

• Dt 90-2 Kt 43