Balance sheet inventories what accounts. Rules and procedure for filling out the “current assets” section. Rationing the consumption of inventories of material resources and factors influencing the amount of inventories

The balance sheet is a systematic record of all accounting information. It is conducted by every organization that is competent in its own reputation and takes a responsible approach to reporting. One line item that poses particular challenges for inexperienced employees is 1210. In this article, we will look at how to correctly report inventory on the balance sheet.

What is reflected in the “Inventories” line

All inventories and expenses in balance line 1210 must be entered correctly. To do this, you need to consider:

• Debit balance of account 10 “Materials”, add to it the balance of account 11, which reflects information about animals that are fed and fattened;
• Then the balance of account 14 is subtracted, where reserves are registered that go towards reducing the value of material assets, and the debit balance of account 15 “Procurement and acquisition of material assets” is added;
• Next, you need to calculate the resulting amount plus/minus the balance of account 16, which reflects information about deviations in the cost of material assets;
• Then add the debit balance of such accounts as 20, 21, 23, 28, 29, 41;
• We subtract from the resulting amount the balance of account 42, namely the data on the trade margin, and add all this to the balance of accounts 44 in the balance sheet, 45, 97.

It is worth noting that the data on accounts 15 and 16 relate only to part of the stocks of raw materials and supplies, and in account 97 only those costs of the enterprise are taken into account, the write-off period of which is no more than a year.

There is a legally accepted form for filling out this line. As experts note, the new form, unlike the previous one, is simplified. It only requires the presentation of basic data without detailed analysis. Despite this, they recommend carrying out this procedure only for those inventories whose original cost is more than 5% of the total size. Thus, all information will be fully disclosed, and such detailed reporting indicates the company’s competent attitude to the preparation of such documents.

As inventories, which are subject to registration in line 1210, we accept tangible and intangible assets that:

• Are used and exploited in the form of raw materials or production materials for the creation, development or production of a labor product;
• The manufacturer plans to send it for sale. It includes finished products in the balance sheet as the final result. Moreover, it must go through all stages before release, namely: high-quality processing, quality testing, checking for compliance with all necessary technical parameters, standards and documentation regulations;
• Management purchased them to apply them to the control system.

There are also actual material costs in the balance sheet for the purchase of inventories, which include:

• The total amount of funds that were paid by the organization to the seller of inventory. All this data is written down in the corresponding document;
• Financial resources that were sent to companies providing information transfer, as well as for consultations. This information is entered in line 1210 only if the organization’s activities directly related to the sale or purchase of inventory;
• The cost of gross output in the balance sheet, distribution costs;
• Expenses for payment of customs duties;
• Payments of taxes that are not refundable. Moreover, they must be related to the purchase of inventories by the company;
• Costs for the transfer of rewards that were paid by the intermediary company after the acquisition;
• Expenses of the organization that were allocated to procurement processes, as well as transportation of inventories. Economists include the costs of maintaining an organization’s warehouse as this type; transport services that were necessary for the delivery of goods, costs of the procedure for selling inventory on the retail market, and so on.

How to fill out information correctly

It is necessary to remember how an item of expenditure is created that is aimed at creating a product of labor. These include:

• Material costs that are necessary for the purchase of materials and raw materials;
• Costs for remuneration of employees of the enterprise, as well as hired employees. The company must conclude a service provision agreement with them;
• Contributions for social needs. Such payments primarily include social benefits, as well as various pension and insurance contributions;
• Depreciation expenses.

Once the actual data for each type of inventory has been recorded, it is necessary to make an estimate. It can be carried out by an accountant in several ways, for example, accounting for the cost of each product, calculating the average cost.

Most accountants in practice use the latter method, namely accounting by time of acquisition of goods. It is worth noting that a detailed reflection of acquired inventories according to their composition must be recorded in lines 12101-12105.

To reflect costs for future periods, it is necessary to reflect them in the manner that was established for writing off the cost of assets of this type.

In this case, the accounting department can fill out a report on deferred expenses in the balance sheet line. But for these purposes, the organization needs to document the accounting procedure in its accounting policies. Many accountants are interested in: “In which line of the balance sheet is account 97 reflected?” It allows you to create special subaccounts on line 1210 to express costs that will be allocated to subsequent purchasing periods.

One of the most important indicators in the “Inventories” line is the reflection of raw materials and materials. These include those MA companies that become the main means of labor for creating goods, and after entering data on the final gross output in the balance sheet. That is, these inventories are its main production resources. This type of goods may include not only fuel, parts for repairs, the main components of the product, but also tools, employee clothing, as well as production waste.

They are registered and accounted for in the debit balance of account 10, namely in the form of the original price for goods that are not subject to write-off until the end of the next reporting period. In order to simplify the entire process, experienced accountants use account 15, which expresses information about prepared and purchased MA, as well as account 16 with data on deviations in the cost of MA. All this allows you to describe in detail and reflect the accounting price of materials and raw materials. Finished products are also reflected in line 1210.

It is worth noting the role of account 14. In the event that the organization plans to create a reserve fund to depreciate the total amount of inventories. Impairment is the phenomenon of decreasing the value of inventories. That is, account 14 records the company’s raw materials and materials minus the reserve for impairment. Moreover, their cost should be several times lower than the original one by the date of submission of the report. In order to determine this, it is necessary to perform an impairment test:

• Make a list of company assets that will participate in testing;
• Calculate the value of the asset that will be recovered;
• Determine losses from impairment phenomena;
• Recognize the loss in profit or loss over time from impairment;
• Prepare a detailed analysis of the situation after the report date;
• Document all data received and write down all the necessary information in the reporting.

This will allow us to reduce the cost of the materials used several times and stop the overexpenditure of the enterprise’s profits for further periods.

The concept of inventories in accounting

In accounting, inventories are reflected in the asset balance sheet of the organization and are assets of average liquidity. The use of inventories constitutes an indicator of the cost of sales or production. In such a cost price, as a rule, inventories occupy the largest share, so their high-quality accounting has a beneficial effect on the efficiency of the enterprise.

Note 1

There may be no reserves at all if the organization sells a product of intellectual activity.

Types of inventories in accounting

Accounting records are kept separately by type of inventory:

Raw materials and supplies.

This type of inventory is accounted for on account 10. As a rule, this type of inventory is available at enterprises that produce products. For example, for a confectionery factory, the inventories are:

• milk;
• cocoa;
• sugar;
• gelatin;
• etc.

From this type of inventory, the products that the enterprise produces (sweets, cookies, waffles, etc.) are formed. In construction companies, the following inventories are represented:

• cement;
• sand;
• crushed stone

From this type of reserves, a construction project is formed.

Animals.

This type of stock is represented by animals at agricultural enterprises. They are accounted for on account 11.

Unfinished production.

This type of inventory consists of costs that have been incurred for production that is not completed at the end of the reporting period.

Finished products.

This type of inventory is represented by a finished product of production, the production of which required the consumption of some raw materials or supplies. Accounting for such inventories is carried out on account 43.

This type of inventory is located in trade organizations. They are accounted for in account 41.

Future expenses.

This type of inventory represents the organization's costs that will actually occur in the future. For example, a subscription to a periodical magazine is paid for immediately for a year, and its cost is written off monthly during the period of receipt of such a magazine.

Features of inventory accounting

Inventory accounting has its own characteristics. All inventory accounts are active. The receipt of inventories into the organization forms turnover on the debit of such accounts, and disposal (for various reasons) - on the credit of such accounts. When generating transactions, the corresponding correspondence of accounts is used. Inventory accounting is also carried out using various methods for their valuation and write-off. The organization chooses these methods independently and approves them in the accounting policies of the enterprise. The purchase price of inventories may or may not include other costs associated with their acquisition:

• transportation and procurement costs;
• commission payments to intermediaries;
• etc.

When disposing of inventories, various methods are used:

1. FIFO.
2. Average cost.
3. Unit cost of inventory.

Methods are selected based on the specifics of the organization’s reserves and activities. The chosen method should have a positive impact on the financial performance of the company.

Note 2

Inventories most often require inventory, since they constitute a significant share of the company's assets. Inventory can be carried out according to a predetermined schedule, or it can be sudden.

When taking inventory of inventories, representatives of the commission compare data on inventories contained in accounting registers and actual data on the actual availability of all types of inventories in the organization.

This line of the Balance Sheet reflects information about the organization’s reserves, namely (clause 20 of PBU 4/99):

— about raw materials, supplies and other similar valuables;

— costs in work in progress;

— finished products;

— goods for resale and goods shipped;

— expenses of future periods.

At what cost are inventories recorded?

1. Raw materials and other similar values ​​are taken into account at actual cost, which is determined in the manner established by clauses 6 - 11, 13 PBU 5/01, clauses 16, 17, 63 - 71 of the Guidelines for accounting of material and production inventories (clause 5 of PBU 5/01, clauses 15, 62 of the Guidelines for the accounting of inventories, clause 11 of the Guidelines for the accounting of special tools, special devices, special equipment and special clothing).

The specified material assets, accounted for in separate subaccounts of account 10 “Materials,” can be listed on this account at actual cost or at accounting prices. In the latter case, the difference between the cost of these assets at accounting prices and their actual cost of acquisition (procurement) is reflected in account 16 “Deviation in the cost of materials” (clauses 80, 83, 85 of the Guidelines for accounting of inventories, p. 13 Guidelines for accounting of special tools, special devices, special equipment and special clothing, Instructions for using the Chart of Accounts).

If the receipt of materials is reflected using account 15 “Procurement and acquisition of material assets”, the balance of account 15 shows the availability of goods in transit at the end of the month (at the agreed value) (Instructions for using the Chart of Accounts, clause 26 of PBU 5/01, clause 85 of the Guidelines for accounting of inventories).

Attention!

Since raw materials, materials and other assets used to create non-current assets of the organization do not meet the characteristics of inventories given in paragraph 2 of PBU 5/01 (are not used as raw materials and supplies in the production of products intended for sale (when performing works, provision of services), are not intended for sale, are not used for the management needs of the organization), they cannot be recognized as part of inventories and reflected in the Balance Sheet on line 1210 “Inventories”. Such assets are reflected in the Balance Sheet as part of non-current assets (Appendix to the Letter of the Ministry of Finance of Russia dated January 29, 2014 N 07-04-18/01).

1. Finished products is accepted for accounting at the actual production cost, which is determined in the manner established by clause 7 of PBU 5/01, para. 5 clause 16, clause 203 of the Guidelines for accounting of inventories. At the same time, the balances of finished products in the warehouse (other storage places) at the end (beginning) of the reporting period can be assessed in the analytical and synthetic accounting of the organization at accounting prices, in particular at standard (planned) cost (clause 5 of PBU 5/01, para. 2 clause 203, clause 204 of the Guidelines for accounting of inventories).

Information about the availability and movement of finished products is reflected in account 43 “Finished products”.

If accounting for finished products is carried out at accounting prices, then the difference between the actual cost and the cost of finished products at accounting prices is reflected in account 43 in a separate subaccount “Deviations of the actual cost of finished products from the accounting cost” (clause 206 of the Guidelines for accounting of material and production stocks).

When accounting for finished products at standard (planned) cost, account 40 “Output of products (works, services)” (Instructions for using the Chart of Accounts) can be used to identify the difference between the actual cost and the cost of finished products at standard cost. Account 40 is closed monthly to account 90 “Sales” and has no balance at the reporting date.

Thus, if deviations from the accounting value of finished products are accounted for on account 43, then in the Balance Sheet finished products are reflected at actual cost, and if on account 40, then finished products are reflected at standard (planned) cost (clause 59 of the Regulations on maintaining accounting and financial statements, clause 24 PBU 5/01).

Attention!

If, on the reporting date, an organization has entered into an agreement for the sale of finished products at a price below its cost, then a reserve is created to reduce the cost of these finished products (clause 25 of PBU 5/01, Appendix to the Letter of the Ministry of Finance of Russia dated January 29, 2014 N 07-04-18/ 01).

1. Goods are accepted for accounting at actual cost, which is determined in the manner established by clauses 6, 8 - 11 PBU 5/01 (clause 5 PBU 5/01). Organizations engaged in trading activities can account for goods at the cost of their acquisition. Organizations engaged in retail trade can account for goods at their sales price (clause 13 of PBU 5/01, clause 60 of the Regulations on Accounting and Financial Reporting).

Account 41 “Goods” is intended to summarize information about the availability and movement of goods.

In organizations engaged in retail trade and keeping records of goods at sales prices, information about trade margins (discounts, markups) on goods is reflected in account 42 “Trade margin”.

The receipt of goods and containers can be reflected using accounts 15 “Procurement and acquisition of material assets” and 16 “Deviation in the cost of material assets” or without their use in a manner similar to the procedure for accounting for the corresponding transactions with materials (Instructions for using the Chart of Accounts).

In general, the actual cost of inventories (including raw materials, materials, finished products and goods) is not subject to change (clause 12 of PBU 5/01). But for inventories, the market price of which has decreased or they have become obsolete or have completely or partially lost their original qualities, are charged in accounting reserve for reduction in the value of material assets . To account for such a reserve, account 14 “Reserves for reducing the value of material assets” is intended (clause 25 of PBU 5/01, clause 20 of the Methodological Guidelines for Accounting for Inventories, Instructions for the Application of the Chart of Accounts). Let us recall that the creation of estimated reserves is considered as a change in estimated values ​​in accordance with paragraphs 2, 3 of PBU 21/2008.

1. Goods shipped are accounted for in account 45 “Goods shipped” at a cost consisting of the actual production cost (or standard (planned) cost) and costs of selling (selling) products (goods, work, services, etc.) (with partial write-off of costs) (Instructions for using the Chart of Accounts, clause 61 of the Regulations on Accounting and Financial Reporting).

Attention!

A reserve for a decrease in the value of goods listed as shipped goods on the reporting date is not created (Letters of the Ministry of Finance of Russia dated January 29, 2008 N 07-05-06/18, dated January 29, 2009 N 07-02-18/01). An exception is the situation when an agreement has been concluded for the sale of goods at a price below the book value of these goods. In this case, the organization creates a reserve for reducing the value of material assets for the difference between the book value and the selling price of goods (clause 25 of PBU 5/01, Appendix to the Letter of the Ministry of Finance of Russia dated January 29, 2014 N 07-04-18/01, Explanation 11- 05 “Reserve for inventories under concluded contracts” (Committee on Interpretations. 02.25.2011)).

Attention!

The property transferred to the buyer is removed from the organization’s fixed assets (clause 29 of PBU 6/01). If the moment of writing off the accounting records of a real estate object, the ownership of which is subject to state registration, does not coincide with the moment of recognition of income and expenses from the disposal of an object of fixed assets, then the residual value of the disposed object of fixed assets can be taken into account on account 45 “Goods shipped”, and in the balance sheet is reflected as part of current assets (Letter of the Ministry of Finance of Russia dated January 27, 2012 N 07-02-18/01).

In our opinion, as alternative options for accounting for the cost of retiring real estate, account 97 “Fixed assets” and the subaccount “Retirement of fixed assets” to account 01 “Fixed assets” can be used. In this case, regardless of the chosen accounting option, the cost of such objects is shown in the Balance Sheet on line 1210.

1. Work in progress (WIP) is taken into account in the assessment determined by one of the methods established by clause 64 of the Regulations on Accounting and Financial Reporting.

To reduce the value of work in progress, a reserve can be created, which is accounted for in account 14 “Reserves for reducing the value of material assets” (Instructions for using the Chart of Accounts). Let us recall that the creation of estimated reserves is considered as a change in estimated values ​​in accordance with paragraphs 2, 3 of PBU 21/2008.

1. Animals being raised and fattened are taken into account on account 11 “Animals for growing and fattening” (on the corresponding sub-accounts). Animals purchased from other organizations and persons are accounted for at the actual cost of acquisition (actual costs) or accounting prices; transferred from the main herd - at residual value or initial (replacement) cost; offspring, weight gain and growth of animals - at the planned cost with adjustment at the end of the year to the actual cost of rearing (clauses 9, 10, 12, 13, 14 of the Methodological Recommendations for the accounting of animals for growing and fattening, Instructions for using the Chart of Accounts) .

The acquisition of animals from other organizations and persons can be reflected using accounts 15 “Procurement and acquisition of material assets” and 16 “Deviations in the cost of material assets” (when using accounting prices) (paragraph 2 of clause 45 of the Methodological Recommendations for the Accounting of Farmed Animals and fattening, Methodological recommendations for the use of the Chart of Accounts of organizations of the agro-industrial complex, Instructions for the use of the Chart of Accounts, Methodological recommendations for the correspondence of accounts of agricultural organizations). Animals for growing and fattening, owned by the organization, but in transit, are taken into account in accounting in the assessment provided for in the contract, with subsequent clarification of the actual cost (clause 62 of the Methodological Recommendations for Accounting for Animals for Growing and Fattening).

1. Costs associated with the sale products, goods, works, services, as well as expenses associated with the procurement of agricultural raw materials, livestock and poultry (if the organization’s accounting policy provides for their partial write-off from account 44 “Sales expenses”), are subject to distribution as follows (Instructions for application of the Chart of Accounts, Guidelines for the application of the Chart of Accounts of enterprises and organizations of the agro-industrial complex, paragraph 2 of paragraph 228 of the Guidelines for accounting of inventories):

1) 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);

2) 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);

3) in organizations that procure and process agricultural products - expenses for the procurement of agricultural raw materials and expenses for the procurement of livestock and poultry.

1. Future expenses are taken into account in the amount of actual costs incurred minus their part attributed to the expenses of expired periods (clause 65 of the Regulations on accounting and financial reporting, paragraph 2, clause 39 PBU 14/2007, clause 16 PBU 2/2008, Letter of the Ministry of Finance Russia dated January 12, 2012 N 07-02-06/5, Appendix to the Letter of the Ministry of Finance of Russia dated January 29, 2014 N 07-04-18/01).

3.1.2.1.2. What accounting data is used?

when filling out line 1210 “Inventories”

This line of the Balance Sheet indicates the cost of inventories, determined based on the methods used by the organization to evaluate inventories, minus the created reserve for reducing their value (clauses 58, 59, 61, 62, 64, 65 of the Regulations on Accounting and Financial Reporting , pp. 24, 25 PBU 5/01, pp. 60, 61 Methodological recommendations for accounting of animals for growing and fattening, pp. 20, 35 PBU 4/99).

Line 1210 “Inventories” = Debit balance on account 10 + Debit balance on account 11 + Debit balance on account 41 - Credit balance on account 42 + Debit balance on account 43 + Debit balance on account 15 +/- Balance on account 16 - Credit balance on account 14 + Debit balance on account 45 + Debit balance on accounts 20,21,23,28,29 + Debit balance on account 97 (analytical expense account with a write-off period not exceeding 12 months + Debit balance on account 44)

Organizations independently determine the detail of the indicator on line 1210 “Inventories”. For example, the Balance Sheet may contain separate information on the cost of materials, finished products and goods, costs in work in progress, if such information is recognized by the organization as significant (paragraph 2 of clause 11 of PBU 4/99, clause 3 of Order of the Ministry of Finance of Russia N 66n).

The indicators in line 1210 “Inventories” as of December 31 of the previous year and as of December 31 of the year preceding the previous year are transferred from the Balance Sheet for the previous year.

The “Explanations” column provides an indication of the disclosure of the indicator in line 1210 “Inventories”. If an organization draws up Explanations to the Balance Sheet and the Statement of Financial Results according to the forms contained in the Example of Explanations given in Appendix No. 3 to Order of the Ministry of Finance of Russia No. 66n, then in the column “Explanations” on line 1210 “Inventories” tables 4.1 and 4.2 are indicated .

Example of filling out line 1210 “Inventories”

Indicators for accounts 10, 14, 20, 23, 41, 43, 97 in accounting as of December 31, 2014 (indicators for accounts 15 and 16, 21, 28, 29, 42, 44, 45 in accounting for this date absent): rub.

Fragment of the Balance Sheet for 2013

Solution

The cost of the organization's inventory is:

as of December 31, 2014 - RUB 14,704 thousand. (RUB 2,469,600 - RUB 48,000 + RUB 4,000,000 + RUB 54,200 + RUB 5,160,000 + RUB 3,030,000 + RUB 38,000);

Including:

the cost of materials for the organization is:

costs in work in progress are:

The cost of finished products and goods for resale is:

A fragment of the Balance Sheet in Example 2.1 will look like this.

USN, 15%, retail sale of watches. Trade margin 40%. When compiling the balance sheet, difficulties arose with the formation of the value of inventories, which is recorded in line 1210 of the Balance Sheet. We purchase goods (watches) from the Supplier and sell them at the Retail Price, which is 40% higher than the purchase price. I write the cost of inventory (i.e. watches) on the balance sheet in line 1210 at the purchase price of, say, 1 million rubles. Those. cleared of markup. Is that all, or do you still need to add or subtract something? Let's say, "Sales expenses", do I take account 44 into account here, or not?! Let's say, in order to sell these watches that form the Inventory, we need to spend money on: rent, transportation costs, etc. Should I reduce the cost of inventory in the Balance Sheet for these costs? Those. line 1210 will be: 1 million rubles - costs of selling “Inventories”.

Answer

The indicator on line 1210 of the balance sheet “Inventories” consists of the following indicators (clause 20 of PBU 4/99 “Accounting statements of an organization”):

Cost of remaining raw materials and supplies;

Costs in work in progress (distribution costs);

Cost of finished products;

Cost of goods for resale and goods shipped;

The amount of future expenses.

Now let’s learn more about how to reflect the cost of purchased goods and selling expenses on the balance sheet.

Purchased goods. In the balance sheet you should show the actual cost of goods (clauses 5 and 6 of PBU 5/01 “Accounting for inventories”). Thus, if you keep records at sales (retail) prices, then in the indicator on line 1210 of the balance sheet you should include the purchase price of the goods, that is, without a markup. It is defined as the difference between the balance on Debit account 41 of subaccount 2 “Goods in retail trade” and the balance on Credit account 42 “Trade margin”.

For example, if your product retails for 140 rubles, including a markup of 40 rubles, then in your balance sheet you will show the purchase price of 100 rubles. (140 rub. - 40 rub.).

Selling expenses. In the balance sheet on line 1210 “Inventories” you need to reflect the balance of expenses not written off at the end of the year, recorded in account 44 “Sales expenses”. Here you need to keep the following in mind. Trade organizations distribute only transportation costs between goods sold and goods in balance. You must indicate the specific procedure for distributing transportation costs in your accounting policies. For example, you can allocate transportation costs in proportion to the purchase price of the goods.

That is, at the end of the year on account 44 you may only have unwritten off transportation costs related to unsold goods accounted for on January 1 on account 41. All other expenses (for rent, utilities, salaries, etc.) you must monthly charge to account 90 subaccount 2 “Cost of sales”.

Thus, your balance sheet indicator 1210 will consist of the purchase price of goods remaining on January 1, and the amount of unwritten off transportation costs related to unsold goods and remaining on account 44 “Sales expenses” on January 1.

2018-01-25 11562

• Purpose of the article: reflection of information about reserves.
• Line number in the balance sheet: 1210.
• Account number according to the chart of accounts: Debit balance - 10, 11, 15, 16, 20, 21, 23, 28, 29, 43, 41, 44, 45, 97, Credit balance - 14, 42.

Inventories refer to the tangible property of enterprises with the help of which final production products are manufactured. By reflecting them in the balance sheet, the company shows what resources it has at the end of the reporting year.

How are inventories reflected?

Inventories on the balance sheet consist of several categories:

• materials, raw materials;
• finished products;
• Future expenses;
• unfinished production;
• goods for sale.

What to do with materials

Raw materials and materials that were not given for the manufacture of products, in line 1210 of the balance sheet, information is collected on the balances of debit and credit accounts:

• 10 "Materials";

The specifics of raw materials can be very diverse depending on what the enterprise does. For example, when making wine, the raw material can be grapes and all the accompanying ingredients needed in the preparation process.

Materials, in addition to raw materials, are divided into narrower subtypes:

1. Purchased semi-finished products and components.
2. Tara.
3. Fuel.
4. Spare parts.
5. Materials outsourced for processing.
6. Construction materials.
7. Inventory and tools.
8. Overalls.
9. Other stocks.

Debit 43 Credit 40 - products in the warehouse are capitalized.

Once the products are in the warehouse, they need to be sold. Unsold products fall into line 1210 of the balance sheet as a debit balance.

Goods for resale as part of reporting

Goods intended for sale are displayed in the balance sheet:

For example, the company Yuzhny Bereg LLC has the following data in its accounting records at the end of the year:

Since the figures in the balance sheet, according to the requirements of Order No. 66 n, are shown in thousands or millions of rubles, then in line 1210 you need to write:

50 - 50 + 50 + 6 = 56 thousand.

Costly accounts in progress

Work in progress must be reflected in the balance sheet as the sum of debit balances:

• 20 “Main production”;
• 23 “Auxiliary production”;

These are costly bills. They are called so because on them the company collects all expenses that relate directly to the production process.

What to do with deferred expenses

Finally, it is necessary to take into account the debit balance of account 97 “Deferred expenses”. These are expenses that the company spent on in the current month, but they will be deducted in the next time period. The list of expenses may include:

• certification and licensing;
• insurance;
• software products and subscription services;
• other deferred expenses.

For example, if an object is insured for a year, then the company buys an insurance policy at full cost. But the insurance will be written off monthly.

Let's assume that the gas boiler was insured on September 1 for 27,000 rubles. Since the insurance is valid for a year, you need to write off monthly:

27,000 / 12 months = 2,250 rubles.

Typical wiring:

• Debit 76 accounts Credit 51 accounts - an insurance policy in the amount of 27,000 rubles was paid.
• Debit 97 account Credit 76 account - an insurance policy was received from an insurance company in the amount of 27,000 rubles.
• Debit 23 (20, 26) accounts Credit 97 accounts - 2,250 rubles written off as expenses for the month.
• 2,250 rubles * 4 months = 9,000 rubles.
• 27,000 - 9,000 = 18,000 rubles.

Accordingly, line 1210 of the balance sheet from deferred expenses will include the amount that has not been written off as of December 31, that is, 18,000 rubles.

Increase or decrease row 1210

Every year, every company must submit financial statements, including a balance sheet, which is called Form No. The balance is drawn up in accordance with clearly defined instructions, which can be found in PBU 4/99. This document requires the reliability of the information in the report, therefore the “Reserves” item should be collected strictly according to the formula:

Debit 10, 11 - Credit 14 + Debit 15, 16 + Debit 20, 21, 23, 28, 29 + Debit 43 + Debit 41 - Credit 42 + Debit 44, 45 + Debit 97.

Inventories on the balance sheet are a current asset that indicates the company's financial security. The absence or sharp decrease in indicators in line 1210 of the current assets section, which collects all data on inventories, may indicate a scarcity of resources in the enterprise’s warehouses. On the other hand, there is an option that the process of turning an asset into money occurs so quickly that the company can barely keep up with its marketing service.

Since financial receipts to the company’s accounts depend on the rate of inventory turnover, it is necessary to maintain the proper level of resources by pursuing an effective marketing policy.