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 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. Documentation of the 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 selling 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 the accounting policy of the organization.

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 as follows:

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 operations for the production of finished products are reflected in accounting as follows:

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).

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 taken into account according to NPS, then analytical (current) accounting of individual items of finished products is also carried out according to NPS, but without separate accounting of 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 products and semi-finished products that are fully processed, comply with current standards or approved technical specifications, accepted into the warehouse or by the customer.

In the Guidelines for accounting for inventories (30), finished products are defined as 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.

Finished products, as a rule, must be delivered to the warehouse and reported 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.

Signs of finished products that make it possible to distinguish them from purchased goods, work in progress, raw materials, materials, etc. are:

· arising as a result of the production activities of the organization itself;

· completion of all stages of processing and packaging;

· compliance with technical and quality characteristics, established requirements (contract terms, certified requirements, GOST requirements, etc.)

In contrast to work performed and services provided, finished products are allocated as an independent accounting object due to the fact that during the production of products, the moment of completion of the production process and the moment of sale have a time gap.

Speaking about finished products, one cannot fail to mention the types of evaluation of finished products used. N.P. Kondrakov identifies the following six main types of product assessment:

· at actual production cost - this method is used relatively rarely, mainly in individual production enterprises that produce large, unique equipment and vehicles. Can be used in enterprises with a limited range of mass products;

· based on incomplete (reduced) production costs of products, calculated based on actual costs without general business expenses; can be used in the same industries where the first method of product evaluation is used;

· at wholesale selling prices - Wholesale prices are used as reference prices. Deviations in the actual cost of products are taken into account in a separate analytical account. With stable wholesale prices, this option for valuing products was the most common, since it made it possible to compare the valuation of products in current accounting and reporting, which is important for monitoring the correct determination of commodity output. With significant fluctuations in the level of wholesale prices, this method loses its advantages.

· according to the planned (standard) production cost, which also serves as a fixed accounting price. This necessitates a separate accounting of deviations of the actual production cost of products from the planned or standard cost. The advantage of this method of assessing finished products is to ensure uniformity of assessment in accounting planning. However, if the planned or standard cost of production changes frequently, then the assessment of finished product balances becomes more complicated. A variant of this method of valuing finished products is valuation at reduced planned production costs. A variant of this method of valuing finished products is valuation at a reduced planned production cost;

· at free selling prices and tariffs increased by the amount of value added tax - when performing single orders and works.

· at free market prices - when accounting for goods sold through the retail network.

Below is a diagram describing the types of finished product assessments:

Deviations (differences) are identified for products released from production by comparing its actual cost with the standard (planned) cost or cost at sales prices. Between the shipped (sold) products for the month and their balances at the end of the reporting period in the warehouse (in shipment), they are distributed according to the weighted average percentage, calculated as the ratio of the actual cost of the balance of products at the beginning of the month (in the warehouse, in shipment) and the products released (shipped , sold) in a given month, to the cost of the same volume of products at standard (planned) cost or at sales prices.

The calculation is carried out in the context of individual groups of manufactured products. In analytical accounting, deviations (differences) are added to the standard (planned) cost or to the cost at sales prices, as a result of which the actual cost is determined. On synthetic accounts, their positive value (the excess of the actual cost over the standard (planned) cost or the cost at sales prices) is reflected by a regular, additional entry, and a negative value - by the “red reversal” method.

Free selling prices are agreed upon by the parties to the transaction, i.e. the seller and the buyer, and are recorded in the purchase and sale agreement. Free contract prices are checked by tax authorities if necessary. Prices may be subject to verification if they deviate by more than 20% from the level of market prices for identical products, prices under agreements concluded between interdependent organizations, for commodity exchange transactions and foreign trade transactions.

The prices specified in the contract are verified:

based on documented information obtained from official sources about market prices. Official sources include information on stock exchange quotations and market prices published in printed publications by state statistical bodies and bodies regulating pricing, as well as opinions of experts entitled to carry out valuation activities; resale price method. With this method, the subsequent sale price of the product is taken as the basis. This method is used when there are no transactions on the market for identical or similar goods; cost method, in which the market price is calculated as the sum of expenses incurred and ordinary profit for a given field of activity. The usual profit margin is equal to the level of profitability prevailing for similar products. Information on the level of profitability is provided by statistics and pricing authorities.

The tasks of accounting for product output and sales include:

1. control over the timely and correct execution of primary documents for the release and shipment of products;

2. timely issuance and provision of settlement and payment documents to the buyer and the bank;

3. providing managers of the organization and relevant departments with information about the availability and movement of products in order to control the timely receipt and shipment, as well as the safety of finished products;

4. control over the timely receipt of funds from the sale of products, reconciliation of mutual settlements with customers.

5. A very important task for each organization is to maintain, along with accounting, operational records of the release, shipment and sale of products.

6. identifying the profitability of all products and their individual types;

7. control over the safety of finished products and compliance with established limits;

Finished products accounting

Finished products are part of an organization’s inventory, intended for sale and being the end result of production activities, completed by processing (assembly), the technical and quality characteristics of which comply with the requirements of the supply agreement or other requirements established by law.

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.

Finished products, as a rule, must be transferred from production to a warehouse, where they are accounted for in the same way as production inventories. Large-sized products and products that cannot be put into storage for technical reasons are accepted by the customer’s representative at the site of their manufacture, packaging and assembly.

According to PBU 5/01 “Accounting for inventories,” finished products are accepted for accounting at actual production costs.

The actual cost of finished products can only be determined at the end of the month. The movement of finished products occurs daily (release from production, shipment, sale). Therefore, discount prices are used for current accounting. The following can be used as accounting prices for finished products:

1) actual production cost (full or incomplete);

2) standard cost (full and incomplete);

3) contract price and 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 their stability, convenience in carrying out operational accounting of the movement of finished products and the unity of assessment in planning and accounting.

Negotiated prices are used mainly when such prices are stable.

The method of evaluating finished products chosen by the organization must be fixed in the accounting policy.

At the end of the reporting period, the accounting price of finished products is brought to the actual cost by calculating the amount and percentage of deviation:

The amount of deviations related to products written off from the warehouse (sold or shipped) is determined as follows:

where GPotgr. - finished products released from the warehouse (sold or shipped) per month at discount prices.

The amounts of deviations of the actual cost of products from their cost at accounting prices are written off by the same accounting entries that reflect the write-off of products at accounting prices.

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Finished products are products and semi-finished products that are fully processed, comply with current standards or approved technical specifications, accepted into the warehouse or by the customer.

In the guidelines for accounting for inventories, finished products are defined as 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 and services performed and provided to third-party organizations and individuals, as well as employees of the organization on payment terms.

The main tasks of accounting for finished products:

• - correct and timely accounting of the availability and movement of finished products in warehouses, refrigerators and other storage areas;
• - monitoring the implementation of plans for volume, assortment,
• - quality of manufactured products and obligations for their supply;
• - control over the safety of finished products and compliance
• - established limits;
• - monitoring compliance with the plan for selling products and timely payment for products sold;
• - identifying the profitability of all products and their individual types.

Finished products, as a rule, must be delivered to the warehouse and reported 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.

Evaluation of finished products

Accounting for the availability and movement of finished products is carried out on active account 43 “Finished products”. 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 not reflected in account 43 “Finished products”, since they do not arrive at the warehouse.

In the balance sheet, in accordance with the Regulations on Accounting and Financial Reporting, finished products are subject to evaluation at actual or standard (planned) production costs or at direct cost items. The actual cost, as well as direct costs, can also be calculated only at the end of the month after inventory and the corresponding assessment of work in progress. The movement of finished products and their sales occur continuously. The issue of evaluating created products in current accounting should be resolved in the accounting policy of the organization. Such valuation options are possible in current accounting. During the month, accounting prices developed by the organization independently are used. They are recorded during synthetic accounting on account 43. At the end of the month, the actual cost of manufactured products and its deviations in accounting prices are calculated. These indicators are recorded by product groups in the analytical accounting registers for account 43, i.e., the actual cost and its deviations are not included in the accounting entries for the debit and credit of account 43. In large organizations, current accounting of products is carried out according to standard (planned) production costs with or without the use of account 40 “Output of products (works, services)”.

After determining the actual cost of finished products, the difference (deviations) between the standard (planned) and actual costs is calculated. These deviations are reflected in synthetic accounting accounts. Overexpenditure, i.e., exceeding the plan (norm), is recorded in the usual way, savings are recorded in negative numbers (“red reversal”). The total cost of the finished product is thereby brought to its valuation at actual cost.

It is possible to evaluate finished products based on direct cost items with the addition of general production (shop) costs, i.e., at partial production costs. At the same time, the methodology for current accounting of finished products is similar to that set out in relation to accounting according to standard (planned) production costs.

For any prices used for current accounting of manufactured products, at the end of the month there is a need to calculate the average percentage of deviations between the accounting price and the actual cost of finished products. It is used to establish the actual cost of sold (for export deliveries - shipped) products.

When calculating the indicated percentage of deviations, the opening balance should also be taken into account, i.e. the balance at the beginning of the month for both finished products and deviations.