One of the features of the functioning of agricultural organizations is considered to be the need for significant investments in current assets, which are in material form. The production and financial cycle of an agricultural organization covers current activities from the moment of purchasing production resources to the moment of sale of produced products. To carry out the production process, an agricultural organization must have the required amount of seeds, feed, fertilizers, petroleum products, spare parts, and raw materials for industrial and auxiliary production. Their consumption leads to an increase in the costs of work in progress, from which economic benefits are expected to be received. The result of the production process is the creation finished products. In this case, current assets move from the form of production costs to the form of finished products.

Thus, current assets take on material form at two stages of the operating cycle: at the time of purchasing production resources and at the time of receiving finished products intended for sale. In the first case, current tangible assets are transformed into another type of asset - work in progress, which, in turn, is transformed into finished products. In the second case, they are the type of asset that is expected to generate cash flows and generating income. Consequently, in production commercial agricultural organizations, tangible current assets include two groups of investments: inventories and finished products. In the trade sector of the agro-industrial complex, tangible current assets are represented by goods.

Accounting for finished products is regulated by PBU 5/01 “Accounting for material and inventories", the order of organization accounting finished products based on PBU 5/01 are determined in methodological guidelines approved by Order of the Ministry of Finance Russian Federation dated 06/09/2001 No. 44n, excerpts from which are given in this section.

According to PBU 5/01, finished products are understood as “part of the organization’s inventories intended for sale, which is the final result production process, completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents established by law.”

In system regulatory regulation accounting, to determine the current assets in material form, the concept of inventories has been introduced. Agricultural organizations in accounting take the following assets as inventories:

used as raw materials, materials, etc. in the production of crop, livestock, processing, ancillary and other products intended for sale (performance of work, provision of services);

intended for sale, including finished products and goods, incl. for payment in kind;

used for the management and economic needs of the organization;

accepted by the organization for responsible storage, processing (raw materials supplied by customers), which are recorded on off-balance sheet accounts.

The main functions of the inventory accounting system in agricultural organizations include:

timely and complete receipt of finished products, feed, seeds and other materials from own production;

formation actual cost purchased and manufactured inventories;

correct and timely documentation of operations and provision of reliable data on procurement (purchase) volumes, inventory release and production of inventories;

systematic control over the safety of inventories by materially responsible persons, in places of their storage and use at all stages of their movement;

monitoring compliance with the reserve standards established by the organization, ensuring the implementation of agricultural work, production, provision of services and the validity of the release of material assets for production, as well as their use within the established consumption standards and for their intended purpose;

timely identification of unnecessary and excess inventories for the purpose of possible sale or identification of other opportunities for their involvement in circulation;

obtaining accurate information about the balances of inventories at storage locations and periodic reconciliation with accounting data;

identification of obsolete materials that have completely or partially lost their original qualities, or whose current market value (sales value) has decreased, for the purpose of education valuation allowance in the appropriate amount;

disclosure in financial statements information provided by PBU 5/01;

information support for the logistics system and analysis of the efficiency of use of reserves.

Inventories in the accounting system are subject to evaluation. According to the principle of going concern, tangible current assets should be valued at cost.

Due to the nature of agricultural production, crop and livestock products, as well as materials of own production during the reporting period, are usually valued at planned costs. After reporting calculations are compiled, the balances of finished products and inventories of own production (feed, seeds) are assessed at actual cost with calculation differences reflected in the accounting records. Material assets of own production of previous years are accounted for at actual cost.

Finished products, like other types of inventories, are valued at actual cost. When assessing finished products, one should take into account the features characteristic of the economic content of this type of asset. The main source of receipt of materials and goods is purchase for a fee. Finished products cannot be purchased for a fee in principle, since this contradicts their economic content, which follows from the definition - finished products must represent the final result of the production cycle.

The actual cost of inventories during their production by the organization itself is determined based on the actual costs associated with the production of these inventories. Accounting and formation of costs for the production of inventories is carried out by the organization in the manner established for determining the cost of relevant types of products. In accordance with paragraph 59 of the Regulations on accounting and reporting in the Russian Federation, finished products are reflected in balance sheet at actual (planned) production cost. It includes costs associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources, and other costs of production or direct cost items. Thus, when forming the accounting policy of an organization for accounting of finished products, it is possible to make a choice from the following assessment options:

at actual cost;

at standard or planned cost;

for direct cost items.

In accordance with Article 61 of the Regulations on Accounting and Reporting in the Russian Federation, shipped products are reflected in the balance sheet at the actual (or standard (planned)) full cost, which includes, along with production costs, costs associated with the sale (sale) of products, works, services , reimbursed by the agreed (contract) price. The difference between the full and production costs is made up of the so-called “non-production costs” (in accounting they are reflected in account 44 “Sales expenses”), which represent costs associated with sales (including costs of promoting finished products to the market). This means that in any case (including the option of accounting for finished products at planned cost), sales expenses cannot be written off to the account for finished products until they are shipped. Another consequence is that the term “full cost” cannot be applied to finished products located in the organization (in the process of pre-sale preparation, awaiting shipment, as part of a warranty or insurance stocks and so on.).

Products released from production are transferred to the finished goods warehouse. The transfer of products from the workshop to the warehouse is formalized by an acceptance note, the form, content, and order of registration of which are influenced by the complexity of the product, its packaging and the frequency of delivery to the warehouse. When manufacturing complex and multi-set products, an acceptance certificate is drawn up instead of an invoice. If the company performs work for third party organizations, then in this case a work acceptance certificate is issued.

Large products that cannot be delivered to the warehouse by technical reasons, is accepted by the representative of the customer (buyer) at the place of manufacture (release).

Acceptance invoices, after entries in the finished product warehouse cards, are transferred to the accounting department, where, on their basis, data on product release is generated and records are kept. Primary documents for work and services also go to the accounting department.

To summarize data on product output for reporting period a cumulative sheet is used, into which data on the number of products produced per shift or working day is transferred from delivery notes and reports, indicating the date and document number, and the accounting price (planned (normative) cost or sales price) is entered.

Synthetic accounting of finished products can be carried out in two versions: 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 in synthetic account 43 “Finished products” at actual production costs. However, analytical accounting of certain types of finished products is carried out, as a rule, at accounting prices (planned cost, wholesale 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.

Synthetic accounting of finished products shipped is maintained on account 45 “Goods shipped”, which is intended to summarize information about the availability and movement of shipped products, revenue from the sale of which for a certain time cannot be recognized in accounting (for example, when exporting products). This account also records finished products transferred to other organizations for sale on a commission basis. Finished products shipped are accounted for on account 45 “Goods shipped” at a cost consisting of the actual production cost and expenses for shipping products. Account 45 “Goods shipped” is debited in correspondence with accounts 43 “Finished products”, 41 “Goods” in accordance with executed documents (invoices, acceptance certificates, etc.) for the shipment of finished products or their transfer for commission sale. The amounts accepted for accounting under account 45 “Goods shipped” are written off to the debit of account 90 “Sales” simultaneously with the recognition of revenue from the sale of products or upon receipt of a notice from the commission agent about the sale of products transferred to him.

Capitalization of finished products at accounting prices is completed accounting entry on the debit of account 43 “Finished products” and the credit of account 20 “Main production”. By the same recording in the additional way accounting entry or using the “red reversal” method, the deviation of the actual cost of capitalized finished products from their cost at accounting prices calculated at the end of the month is recorded.

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”.

Finished products shipped or delivered locally, depending on the delivery conditions specified in the contract for the supply of products, are written off at accounting prices from the credit of account 43 “Finished Products” to the debit of accounts 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, but at accounting prices, is determined and written off from the credit of account 43 “Finished products” by additional posting or using the “red reversal” method to the debit of accounts 45 “Goods shipped” or 90 “Sales” .

Finished products transferred to other organizations for sale on a commission basis are written off from the credit of account 43 “Finished products” and 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 “Finished products” at standard or planned cost.

The debit of account 40 “Output of products (works, services)” reflects the actual cost of products (works, services), and the credit 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 "Servicing industries and farms" to the debit of account 40 "Output of products (works, services)".

The standard or planned cost of products (works, services) is written off from the credit of account 40 “Output of products (works, services)” to the debit of accounts 43 “Finished products”, 90 “Sales” and other accounts (10, 11, 21, 28, 41 and etc.).

By comparing debit and credit turnover in account 40 “Output of products (works, services)” on the 1st day of the month, the deviation of the actual cost of production from the standard or planned one is determined and written off from the credit of account 40 “Output of products (works, services)” to the debit of the 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 “Output of products (works, services)” is closed monthly, and it does not have a balance as of the reporting date.

When using account 40 “Output of products (works, services)”, there is no need to draw up separate calculations of deviations of the actual cost of products from their cost at the accounting prices of 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 “Output of products (works, services)” is not used);

at standard or planned cost (if estimate 40 “Output of products (works, services)” is used);

according to incomplete (reduced) actual cost (for direct items of expenses), when indirect 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 “Output of products (works, services)” and writing off general expenses from account 26 “General expenses” to account 90 “Sales”).

In the journal-order form of accounting, the amount of the actual cost of manufactured products is indicated in journal-order No. 10/1 in the debit of account 43 “Finished products” and the credit of account 20 “Main production”. Account 43 “Finished products” - active, inventory. The account balance shows the actual cost of the balance of finished products in the organization's warehouses; debit turnover - the actual cost of manufactured products of the main production and other products returned by buyers of products and semi-finished products of their own production, shipped externally; turnover, but to the loan - the actual cost of products shipped in the reporting month.

To determine the actual cost of the balance of finished products in warehouses and shipped products for the reporting month, statement No. 16 “Movement of finished products in value terms” is used.

Accounting for finished products in the warehouse is organized using the operational accounting method, i.e. For each item number of products, a materials accounting card is opened (form No. M-17). As finished products are received and released, the storekeeper, based on documents, records the amount of valuables (receipt, expense) on cards and calculates the balance after each entry. On their basis, the financially responsible person monthly fills out a statement of balances of finished products in the context of the range of finished products, units of measurement, quantity and transfers it to the accounting department. Here, a cross-reconciliation of warehouse and accounting indicators is carried out in total terms (balance at accounting prices).

Released finished products move from the sphere of production to the sphere of circulation. This process is recorded in primary documents- acceptance notes, acts, statements, plans, maps, etc.

The release of finished products and their shipment are formalized by an order-invoice, which includes two documents: an order to the warehouse and an invoice for release. The order to the warehouse is issued by the relevant service, based on the terms of the contract with buyers, indicating the name of the buyer, its code, quantity and range of products, and shipment time.

In order to reflect the products or works, services sold, the accounting department must have documents confirming the execution of the contract and, first of all, the transfer of ownership rights to them. In addition to the order-waybill, these can be railway, air, freight invoices with marks of the station of departure or destination, bills of lading, certificates of work performed, etc.

Finished products are part of inventories that are intended for sale.

The finished product is the end result of the production process, completed by processing (assembly) and its technical and quality characteristics comply with the terms of the contract or the requirements of other documents in cases provided for by law.

Finished products include products that are delivered to the warehouse or to the customer according to the relevant documents. If the product is completely finished, but is in the workshop and not delivered to the warehouse, then it belongs to WIP.

The composition of the finished product does not include the cost of completed work and services provided, the actual cost of which, upon delivery to the customer, is written off from CT 20 to DT 90.

Accounting for finished products is carried out in accordance with PBU 5/01 and methodological instructions No. 119n.

Accounting for finished products is carried out in physical and cost terms by item with separate accounting by distinctive features (brand, model, article, etc.)

The availability and movement of finished products is recorded on active account 43 (active inventory account).

Finished products can be accounted for in synthetic accounting:

1) according to actual production s/s (FPS);

2) according to the normative (planned) production s/s (NPS).

In these same estimates, finished products are reflected in the balance sheet.

If in synthetic accounting finished products are taken into account according to the FPS, then analytical (current) accounting of individual items of finished products can be carried out: - according to the FPS; - at discount prices.

Valuation of finished products in analytical accounting according to the FPS is used, as a rule, in individual production and with a small range of products. For other industries, this method of assessing finished products in analytical accounting is labor-intensive and inconvenient. This is due to the fact that the FPS of finished products, as a rule, is formed only at the end of the month, when all the costs of its production are determined.

However, within a month there is a need to reflect its delivery to the warehouse or to the customer. In this case, the movement of finished products is recorded at accounting prices during the month. (NPS; negotiated prices; other types of prices). At the same time, separate analytical accounts are opened for account 43 “Finished products” to account for finished products at accounting prices and to account for deviations from these prices.

In current accounting, deviations are taken into account separately for homogeneous groups of finished products. Registration prices for payments are established by order of the head of the organization.

If in synthetic accounting finished products are accounted for according to NPS, then analytical (current) accounting of individual items of finished products is also carried out according to NPS, but without separate accounting deviations. The deviation is detected directly on account 40 “production (work, services)”.

The movement of finished products includes 2 main stages:

1) Release of finished products, i.e. delivery of g.p. from production to warehouse

2) Shipping g.p., i.e. vacation g.p. from the warehouse to buyers (customers).

Finished products can also be accepted by buyers (customers) at the place of their manufacture, or directly shipped from this place, bypassing the warehouse (for example, shipment of large-sized products)

Finished products are considered to be those that have undergone full processing, assembly and packaging, meet the requirements of standards, the terms of the contract, have been accepted by the technical control department and delivered to the finished products warehouse or transferred to the buyer. Finished products may include parts, assemblies and semi-finished products if they are sent to customers as spare parts or components.

According to PBU 5/01 “Accounting for inventories”, finished products are understood as “a part of the organization’s inventories intended for sale, which is the end result of the production process, completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents, established by law." The organization of accounting for finished products should ensure the formation of information about the availability and movement of finished products to storage locations and materially responsible persons. Accounting for finished products is carried out in quantitative and cost terms. Quantitative accounting of finished products is carried out in units of measurement accepted in a given organization, based on its physical properties (volume, weight, area, linear units or individually). Conventional natural meters can also be used: canned food in conventional jars, etc. Finished products are accounted for by name with separate accounting for distinctive features: brands, articles, models, styles. In addition, accounting should be kept by larger groups: products of primary production, consumer goods, products made from waste, etc.

To account for finished products, account 43 “Finished products” is used. The assessment of finished products on account 43 “Finished products” is carried out in one of two ways:

· at actual cost;

· at standard (planned) cost.

The actual cost of products manufactured per month can be calculated only at the end of the month. Therefore, analytical accounting can be built according to one of two options.

1st option. In analytical accounting, finished products are accounted for at actual cost. Receipt and release of finished products during the month are reflected in physical indicators (m, pcs., kg, etc.). At the end of the month, after calculating the actual cost of finished products, an entry is made: Debit 43 / Credit 20. Then the cost of shipped finished products is calculated in one of three ways: at the cost of each unit, at the average cost or FIFO, and an entry is made: Debit 90 / Credit 43.

2nd option. In analytical accounting, finished products are accounted for at their book value, highlighting the deviation of the actual cost from the book cost. The accounting value can be a standard or planned cost. On account 43 “Finished products” two sub-accounts are opened: “Accounting cost” and “Deviation of actual cost from accounting cost”.

During the month, receipts and releases of finished products are reflected at book value. Receipt: Debit 43/Accounting value/Credit 20 and issue: Debit 90/Credit 43/Accounting value.

At the end of the month, the actual production cost of finished products is calculated, deviations of the actual cost from the accounting cost are determined, and an adjusting entry is made for their amount. If the actual cost:

· more accounting: Debit 43/Deviation/Credit 20;

· less than accounting: Debit 43/Deviation/Credit 20 storno.

After calculating the actual cost of products produced per month, the percentage of deviations of the actual cost of products produced from the accounting value is determined using the formula:

An adjusting entry is made for the amount of deviations. If the actual cost:

· more accounting: Debit 90 / Credit 43;

· less than accounting: Debit 90 / Credit 43 storno.

Valuation of finished products at standard (planned) cost is advisable at enterprises with a large range of products.

52. Documenting release of products from production. Accounting for finished products in the warehouse and in the accounting department.

Finished products, as they are manufactured, are accepted by technical control and delivered to the warehouse or to the customer. The release of finished products from production and their delivery to the warehouse are documented with delivery and acceptance invoices, specifications, acceptance certificates, etc.

The acceptance delivery note is signed by a representative of the workshop that delivered the products, the storekeeper who accepted them into the warehouse, an employee of the technical control department, as well as the head of the delivering workshop.

The form and content of delivery notes, the order of their execution are influenced by the complexity of the product, its packaging and the frequency of delivery to the warehouse.

Most organizations use a cumulative receipt - delivery note. It records records over several days and for several products.

In some cases, instead of cumulative invoices, one-time invoices are used, which are issued for each production release.

To summarize data on product output for the reporting period, a cumulative sheet is used, into which data on the number of products produced per shift or working day is transferred from delivery notes and reports, indicating the date and document number, and the accounting price (planned (standard) cost or sales price is entered ). At the end of the reporting period, the total quantity of each type of product produced is calculated in the statement. By multiplying the price by the quantity, the cost is determined at the accounting prices of each type of product, and then the cost is calculated at the accounting prices of all products produced.

If products are manufactured according to one-time orders, then the invoice lists the products included in the order and the number of the contract or letter under which this order is carried out.

In a warehouse, finished products are accounted for in the same way as recording material assets in cards or in quantitative and varietal accounting books. Warehouse accounting cards are opened for each product name, entries in which are made for each incoming and outgoing document with the balance being displayed after each entry.

Released finished products are reflected in accounting in one of two ways:

Using account 43 “Finished products”;

Using account 40 “Output of products (works, services)” and account 43 “Finished products”.

The chosen accounting option is reflected in accounting policy organizations.

Accounting for the availability and movement of finished products is carried out on active account 43 “Finished products”.

Accounting for finished products without using count 40 is the most common in domestic practice. Products manufactured for sale, as well as partially intended for the organization’s own needs, are included in the warehouse and reflected in the debit of account 43 “Finished products” and the credit of production accounts 20, 23.

During the month, products arriving at the warehouse from production and shipped from the warehouse are accounted for at discount prices. At the end of the month, the actual production cost is determined, and the following accounts are compiled for the amount of deviations of the actual production cost from the cost of manufactured products at accounting prices:

Debit account 43 Credit account 20 (regular or reversal).

accounting in the following way:

When used to account for production costs account 40 “Output of products (works, services)” synthetic accounting of finished products is carried out on account 43 at standard or planned cost.

The debit of account 40 reflects the actual cost of products (works, services), and the credit 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” 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 accounts: 10, 11, 21, 28, 41, etc.

By comparing debit and credit turnover on account 40 at the end 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 one is written off as an additional posting, and the savings are written off as a reversal. Account 40 is closed monthly because there is 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 the accounting prices of finished, shipped and sold products, since the identified deviation for finished products is immediately written off to account 90 “Sales”.

Business transactions for the production of finished products are reflected in accounting in the following way:

IN balance sheet finished products reflect:

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

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

According to incomplete (reduced) actual cost (for direct items of expenses), when indirect 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).

The purpose of studying this topic is to acquire knowledge: about the concept, characteristics and features of accounting for finished products that are the result of common species activities of the organization; on methods for assessing finished products and the conditions of their use; O possible options accounting for released products (works, services) at all stages of their movement, including sales; on various methods of forming the full actual cost of products sold, work performed and services rendered, including the procedure for the formation and write-off of sales expenses; about the procedure for determining financial result from the sale of finished products, results of work performed and services provided.

As a result of studying the topic, one acquires the skills of analytical and synthetic accounting of operations related to the movement of finished products (work performed, services provided) depending on the methods of its evaluation.

The concept of “finished products” and methods for its evaluation

Finished products represents a part of the organization’s inventories, ready for sale, which are the end result of the production process, fully completed processing, the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents. Products of the sphere of material production also include work performed (scientific and technical, transport, related to advertising, processing of customer-supplied raw materials, etc.) and services provided (communication services, housing and communal services, intermediary, innovation, consulting, marketing, etc.) .

Finished products, as a rule, must be delivered to the finished goods warehouse. The organization of accounting for finished products should ensure the generation of information about the availability and movement of finished products to storage locations and financially responsible persons.

Accounting for finished products is carried out in quantitative and cost terms. Quantitative accounting of finished products is carried out in units of measurement accepted in a given organization, based on its physical properties (volume, weight, area, linear units or individually). To organize accounting quantitative indicators For homogeneous products, conditionally natural meters can be used (for example, canned food in conventional cans, cast iron in terms of conversion, certain types of products based on their weight or volume of useful substance, etc.). The organization's finished products are accounted for by name, with separate accounting for distinctive features (brands, articles, standard sizes, models, styles, etc.). In addition, accounting is carried out for enlarged product groups: products of main production, consumer goods, products made from waste, spare parts, etc.

Data from analytical and synthetic accounting of finished products should provide the necessary data for the preparation of financial statements.

Finished products are accounted for at actual costs associated with their production (at actual production costs). In this case, the balances of finished products in the warehouse at the end (beginning) of the reporting period can be assessed in the analytical and synthetic accounting of the organization either at the actual production cost or at the standard cost (including costs associated with the use of fixed assets, raw materials, materials, fuel in the production process , energy, labor and other production costs). The standard cost of finished product balances can also be determined by direct cost items.

The valuation method based on actual production costs is used in industries that produce products or perform work on individual orders. The actual cost of each product or type of work is determined as they are completed.

When applying the standard cost valuation method, deviations of the actual cost from the standard cost are identified at the end of the month. This method of assessment is possible when organizing a standard method of cost accounting and calculating product costs, if standard calculations are available. In analytical accounting, accounting prices are allowed to be used in places where finished products are stored. Due to the fact that products can be produced and shipped to customers from the first days of the month, and the cost of products produced in the current period can be determined only at the end of the month, the movement of finished products during the month is reflected using discount prices.

As discount prices can be accepted: actual production cost of the previous period; standard cost; negotiated prices; other types of prices. The choice of a specific accounting price option remains with the organization.

When using accounting prices in current accounting, there is a need to identify and distribute cost deviations (differences) between shipped, sold products and their balance in the warehouse and in shipment.

The method chosen by the organization for valuing finished products in accounting and the method for determining the accounting price must be reflected in the accounting policies of the organization.

The use of the option of assessing finished products at standard cost is advisable in industries with a mass and serial nature of production and with a large range of finished products. The positive aspects of using standard cost as an accounting price are the convenience of operational accounting of the movement of finished products, the stability of accounting prices and the unity of assessment in planning and analytical accounting.

The actual production cost of the previous period as the accounting price of products is used, as a rule, in single and small-scale production, as well as in the production of mass products of a small range.

Contract prices are used as discount prices mainly when such prices are stable.

• Products that have not undergone all processing operations or are incomplete, as well as not delivered to the warehouse, are recorded as part of work in progress.