Inventory
An inventory is in the accounting of the inventory of raw materials , consumables and supplies ( "RHB-substances"), semi-finished products , intermediate products , finished products and merchandise ( commodities ).
General
The inventory is particularly important when , stock-intensive companies ( trade : retail , wholesale , production management : plant , aircraft and ship building ) is very important and therefore high capital commitment and a storage risk connected. Purely trading companies only have warehouses for trading goods; processing companies usually require separate warehouses and stocks for RHB materials, semi-finished and finished products. Inventories cause storage costs that need to be minimized. This can be achieved through just-in-time production , which is only possible in production facilities and not in retail. The trade remains the option of a centralization of bearings made.
rating
Through the inventory existing inventories on be reporting date quantitatively by inventory records and then a rating subjected. The goods stocks are to be valued at their acquisition price , RHB materials at acquisition costs , self-made products at manufacturing costs . The lowest value principle must be observed, which requires the use of a lower stock exchange or market price .
Accounting
Then the inventory is to be activated in an active inventory account, which shows an opening inventory at the beginning of the financial year , which takes into account the inflows and outflows and results in an end inventory on the balance sheet date.
Anfangsbestand + Zugänge - Abgänge = Endbestand
Access (through procurement and purchase of goods ) and disposals (by sales ) lead to changes in inventories compared to the previous reporting period and not only affect the inventory account, but also affect the income statement . The correction item "Inventory changes" takes inventory there into account. If products were procured or manufactured in the previous year, initially put into stock and only sold in the current year, they disguise the result for the period and are deducted from sales as a reduction in inventories for the purpose of determining the total output in the period . They have not caused any manufacturing costs in the current year . Conversely, if products are procured or manufactured in the current year but not sold, they are added as a change in inventory because their manufacturing costs have to be taken into account.
All inventories represent current assets , which are to be designated as "inventories" in accordance with Section 266 (2) BI HGB and which are to be broken down precisely according to their degree of completion.
Individual evidence
- ↑ Erna Bivetti, Accounting: Basics , 2011, p. 275
