Accounting for inventories. New regulations on accounting for inventories In accordance with PBU 5
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MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION
ON APPROVAL OF ACCOUNTING REGULATIONS
"ACCOUNTING FOR INVENTORIES" PBU 5/01
dated March 26, 2007 N 26n)
In pursuance of the Program for reforming accounting in accordance with international financial reporting standards, approved by Decree of the Government of the Russian Federation of March 6, 1998 N 283 (Collected Legislation of the Russian Federation, 1998, N 11, Art. 1290), I order:
1. Approve the attached Accounting Regulations “Accounting for inventories” PBU 5/01.
2. Declare invalid:
Order of the Ministry of Finance of the Russian Federation dated June 15, 1998 N 25n “On approval of the Regulations on accounting of inventories” PBU 5/98” (Order registered with the Ministry of Justice of the Russian Federation on July 23, 1998, registration number 1570);
paragraph 1 of the List of amendments and additions to the regulatory legal acts of the Ministry of Finance of the Russian Federation, approved by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 N 107n (Order registered with the Ministry of Justice of the Russian Federation on January 28, 2000, registration number 2064);
paragraph 2 of Amendments to regulatory legal acts on accounting, attached to Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 N 31n “On amendments to regulatory legal acts on accounting” (Order registered with the Ministry of Justice of the Russian Federation on April 26, 2000 ., registration number 2209).
3. Put this Order into effect starting with the 2002 financial statements.
Minister
A.L.KUDRIN
Approved
By order
Ministry of Finance
Russian Federation
dated 06/09/2001 N 44n
POSITION
ON ACCOUNTING
"ACCOUNTING FOR INVENTORIES" PBU 5/01
(as amended by Orders of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n,
dated March 26, 2007 N 26n)
I. General provisions
1. These Regulations establish the rules for the formation in accounting of information about the organization’s inventories. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and budgetary institutions).
2. For the purposes of these Regulations, the following assets are accepted for accounting as inventories:
used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services);
intended for sale;
used for the management needs of the organization.
Finished products are part of inventories intended for sale (the final result of the production cycle, assets completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents, in cases established by law).
Goods are part of inventories purchased or received from other legal entities or individuals and intended for sale.
3. The accounting unit for inventories is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these inventories, as well as proper control over their availability and movement. Depending on the nature of inventories, the order of their acquisition and use, a unit of inventories can be an item number, batch, homogeneous group, etc.
4. This Regulation does not apply to assets characterized as work in progress.
(clause 4 as amended by Order of the Ministry of Finance of the Russian Federation dated March 26, 2007 N 26n)
II. Valuation of inventories
5. Inventories are accepted for accounting at actual cost.
6. The actual cost of inventories purchased for a fee is the amount of the organization’s actual costs for the acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation).
The actual costs of purchasing inventories include:
amounts paid in accordance with the agreement to the supplier (seller);
amounts paid to organizations for information and consulting services related to the acquisition of inventories;
customs duties;
non-refundable taxes paid in connection with the acquisition of a unit of inventory;
remunerations paid to the intermediary organization through which inventories were acquired;
costs for the procurement and delivery of inventories to the place of their use, including insurance costs. These costs include, in particular, costs for the procurement and delivery of inventories; costs of maintaining the procurement and warehouse division of the organization, costs of transport services for the delivery of inventories to the place of their use, if they are not included in the price of inventories established by the contract; accrued interest on loans provided by suppliers (commercial loan); interest on borrowed funds accrued before the inventory was accepted for accounting, if it was raised for the acquisition of these inventories;
costs of bringing inventories to a state in which they are suitable for use for the intended purposes. These costs include the organization’s costs of processing, sorting, packaging and improving the technical characteristics of received stocks, not related to the production of products, performance of work and provision of services;
other costs directly related to the acquisition of inventories.
General and other similar expenses are not included in the actual costs of purchasing inventories, except when they are directly related to the acquisition of inventories.
The paragraph has been deleted. - Order of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n.
7. 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.
8. The actual cost of inventories contributed as a contribution to the authorized (share) capital of the organization is determined based on their monetary value agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation.
9. The actual cost of inventories received by an organization under a gift agreement or free of charge, as well as those remaining from the disposal of fixed assets and other property, is determined based on their current market value as of the date of acceptance for accounting.
For the purposes of this Regulation, current market value means the amount of money that can be received as a result of the sale of these assets.
10. The actual cost of inventories received under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the cost of assets transferred or to be transferred by the organization. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.
If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of inventories received by the organization under agreements providing for the fulfillment of obligations (payment) in non-monetary means is determined based on the price at which similar inventories are purchased in comparable circumstances.
11. The actual cost of inventories, determined in accordance with paragraphs 8, 9 and 10 of these Regulations, also includes the actual costs of the organization for the delivery of inventories and bringing them into a condition suitable for use, listed in paragraph 6 of these Regulations .
12. The actual cost of inventories, in which they are accepted for accounting, is not subject to change, except in cases established by the legislation of the Russian Federation.
13. An organization engaged in trading activities may include the costs of procuring and delivering goods to central warehouses (bases), incurred until they are transferred for sale, as part of sales costs.
Goods purchased by an organization for sale are valued at their cost of acquisition. An organization engaged in retail trade is allowed to evaluate purchased goods at their selling price with separate consideration of markups (discounts).
14. Inventories that do not belong to the organization, but are in its use or disposal in accordance with the terms of the contract, are taken into account in the assessment provided for in the contract.
15. Excluded. - Order of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n.
dated March 26, 2007 N 26n)
In pursuance of the Program for reforming accounting in accordance with international financial reporting standards, approved by Decree of the Government of the Russian Federation of March 6, 1998 N 283 (Collected Legislation of the Russian Federation, 1998, N 11, Art. 1290), I order:
1. Approve the attached Accounting Regulations “Accounting for inventories” PBU 5/01.
2. Declare invalid:
Order of the Ministry of Finance of the Russian Federation dated June 15, 1998 N 25n “On approval of the Regulations on accounting of inventories” PBU 5/98” (Order registered with the Ministry of Justice of the Russian Federation on July 23, 1998, registration number 1570);
paragraph 1 of the List of amendments and additions to the regulatory legal acts of the Ministry of Finance of the Russian Federation, approved by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 N 107n (Order registered with the Ministry of Justice of the Russian Federation on January 28, 2000, registration number 2064);
paragraph 2 of Amendments to regulatory legal acts on accounting, attached to Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 N 31n “On amendments to regulatory legal acts on accounting” (Order registered with the Ministry of Justice of the Russian Federation on April 26, 2000 ., registration number 2209).
3. Put this Order into effect starting with the 2002 financial statements.
A.L.KUDRIN
Approved
By order
Ministry of Finance
Russian Federation
dated 06/09/2001 N 44n
POSITION
ON ACCOUNTING
"ACCOUNTING FOR INVENTORIES" PBU 5/01
(as amended by Orders of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n,
dated March 26, 2007 N 26n)
I. General provisions
1. These Regulations establish the rules for the formation in accounting of information about the organization’s inventories. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and budgetary institutions).
2. For the purposes of these Regulations, the following assets are accepted for accounting as inventories:
used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services);
intended for sale;
used for the management needs of the organization.
Finished products are part of inventories intended for sale (the final result of the production cycle, assets completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents, in cases established by law).
Goods are part of inventories purchased or received from other legal entities or individuals and intended for sale.
3. The accounting unit for inventories is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these inventories, as well as proper control over their availability and movement. Depending on the nature of inventories, the order of their acquisition and use, a unit of inventories can be an item number, batch, homogeneous group, etc.
4. This Regulation does not apply to assets characterized as work in progress.
(clause 4 as amended by Order of the Ministry of Finance of the Russian Federation dated March 26, 2007 N 26n)
II. Valuation of inventories
5. Inventories are accepted for accounting at actual cost.
6. The actual cost of inventories purchased for a fee is the amount of the organization’s actual costs for the acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation).
The actual costs of purchasing inventories include:
amounts paid in accordance with the agreement to the supplier (seller);
amounts paid to organizations for information and consulting services related to the acquisition of inventories;
customs duties;
non-refundable taxes paid in connection with the acquisition of a unit of inventory;
remunerations paid to the intermediary organization through which inventories were acquired;
costs for the procurement and delivery of inventories to the place of their use, including insurance costs. These costs include, in particular, costs for the procurement and delivery of inventories; costs of maintaining the procurement and warehouse division of the organization, costs of transport services for the delivery of inventories to the place of their use, if they are not included in the price of inventories established by the contract; accrued interest on loans provided by suppliers (commercial loan); interest on borrowed funds accrued before the inventory was accepted for accounting, if it was raised for the acquisition of these inventories;
costs of bringing inventories to a state in which they are suitable for use for the intended purposes. These costs include the organization’s costs of processing, sorting, packaging and improving the technical characteristics of received stocks, not related to the production of products, performance of work and provision of services;
other costs directly related to the acquisition of inventories.
General and other similar expenses are not included in the actual costs of purchasing inventories, except when they are directly related to the acquisition of inventories.
The paragraph has been deleted. - Order of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n.
7. 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.
8. The actual cost of inventories contributed as a contribution to the authorized (share) capital of the organization is determined based on their monetary value agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation.
9. The actual cost of inventories received by an organization under a gift agreement or free of charge, as well as those remaining from the disposal of fixed assets and other property, is determined based on their current market value as of the date of acceptance for accounting.
For the purposes of this Regulation, current market value means the amount of money that can be received as a result of the sale of these assets.
10. The actual cost of inventories received under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the cost of assets transferred or to be transferred by the organization. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.
If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of inventories received by the organization under agreements providing for the fulfillment of obligations (payment) in non-monetary means is determined based on the price at which similar inventories are purchased in comparable circumstances.
11. The actual cost of inventories, determined in accordance with paragraphs 8, 9 and 10 of these Regulations, also includes the actual costs of the organization for the delivery of inventories and bringing them into a condition suitable for use, listed in paragraph 6 of these Regulations .
12. The actual cost of inventories, in which they are accepted for accounting, is not subject to change, except in cases established by the legislation of the Russian Federation.
13. An organization engaged in trading activities may include the costs of procuring and delivering goods to central warehouses (bases), incurred until they are transferred for sale, as part of sales costs.
Goods purchased by an organization for sale are valued at their cost of acquisition. An organization engaged in retail trade is allowed to evaluate purchased goods at their selling price with separate consideration of markups (discounts).
14. Inventories that do not belong to the organization, but are in its use or disposal in accordance with the terms of the contract, are taken into account in the assessment provided for in the contract.
15. Excluded. - Order of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n.
III. Release of inventories
16. When releasing inventories (except for goods accounted for at sales value) into production and otherwise disposing of them, they are assessed in one of the following ways:
at the cost of each unit;
at average cost;
at the cost of the first acquisition of inventories (FIFO method);
The application of one of the specified methods for a group (type) of inventories is based on the assumption of consistency in the application of accounting policies.
17. Inventories used by the organization in a special manner (precious metals, precious stones, etc.), or inventories that cannot normally replace each other, can be valued at the cost of each unit of such inventories.
18. The assessment of inventories at average cost is carried out for each group (type) of inventories by dividing the total cost of the group (type) of inventories by their quantity, consisting respectively of the cost price and the amount of balance at the beginning of the month and the inventory received during the given month.
19. Estimation at cost of the first acquisition of inventories (FIFO method) is based on the assumption that inventories are used within a month or another period in the sequence of their acquisition (receipt), i.e. inventories that are the first to enter production (sale) must be valued at the cost of the first acquisitions, taking into account the cost of inventories listed at the beginning of the month. When applying this method, the assessment of inventories in stock (in warehouse) at the end of the month is made at the actual cost of the latest acquisitions, and the cost of goods, products, works, services sold takes into account the cost of earlier acquisitions.
21. For each group (type) of inventories during the reporting year, one valuation method is used.
22. Valuation of inventories at the end of the reporting period (except for goods accounted for at sales value) is carried out depending on the accepted method for valuing inventories upon disposal, i.e. at the cost of each unit of inventory, the average cost, the cost of the first acquisitions.
(as amended by Order of the Ministry of Finance of the Russian Federation dated March 26, 2007 N 26n)
IV. Disclosure of information in financial statements
23. Inventories are reflected in the financial statements in accordance with their classification (distribution into groups (types)) based on the method of use in the production of products, performance of work, provision of services, or for the management needs of the organization.
24. At the end of the reporting year, inventories are reflected in the balance sheet at a cost determined on the basis of the inventory valuation methods used.
25. Inventories that are obsolete, have completely or partially lost their original quality, or the current market value, the selling price of which has decreased, are reflected in the balance sheet at the end of the reporting year minus a reserve for a decrease in the value of material assets. A reserve for reducing the value of material assets is formed at the expense of the organization’s financial results by the amount of the difference between the current market value and the actual cost of inventories, if the latter is higher than the current market value.
26. Inventories owned by the organization, but in transit or transferred to the buyer as collateral, are taken into account in accounting in the assessment provided for in the contract, with subsequent clarification of the actual cost.
27. In the financial statements, at least the following information is subject to disclosure, taking into account materiality:
on methods for assessing inventories by their groups (types);
about the consequences of changes in methods of valuing inventories;
on the cost of inventories pledged;
on the amount and movement of reserves for reducing the value of material assets.
POSITION
ON ACCOUNTING
“ACCOUNTING FOR INVENTORIES”
PBU 5/01
(approved by order of the Ministry of Finance of Russia dated 06/09/2001 No. 44n
as amended from November 27, 2006 No. 156n, from March 26, 2007 No. 26n, from October 25, 2010 No. 132n, from May 16, 2016 No. 64n)
I. General provisions
1. These Regulations establish the rules for the formation in accounting of information about the organization’s inventories. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and state (municipal) institutions).
(as amended by order of the Ministry of Finance of Russia dated October 25, 2010 No. 132n)
2. For the purposes of these Regulations, the following assets are accepted for accounting as inventories:
used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services);
intended for sale;
used for the management needs of the organization.
Finished products are part of inventories intended for sale (the final result of the production cycle, assets completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents, in cases established by law).
Goods are part of inventories purchased or received from other legal entities or individuals and intended for sale.
3. The accounting unit for inventories is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these inventories, as well as proper control over their availability and movement. Depending on the nature of inventories, the order of their acquisition and use, a unit of inventories can be an item number, batch, homogeneous group, etc.
4. This Regulation does not apply to assets characterized as work in progress.
II. Valuation of inventories
5. Inventories are accepted for accounting at actual cost.
6. The actual cost of inventories purchased for a fee is the amount of the organization’s actual costs for the acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation).
The actual costs of purchasing inventories include:
amounts paid in accordance with the agreement to the supplier (seller);
amounts paid to organizations for information and consulting services related to the acquisition of inventories;
customs duties;
non-refundable taxes paid in connection with the acquisition of a unit of inventory;
remunerations paid to the intermediary organization through which inventories were acquired;
costs for the procurement and delivery of inventories to the place of their use, including insurance costs. These costs include, in particular, costs for the procurement and delivery of inventories; costs of maintaining the procurement and warehouse division of the organization, costs of transport services for the delivery of inventories to the place of their use, if they are not included in the price of inventories established by the contract; accrued interest on loans provided by suppliers (commercial loan); interest on borrowed funds accrued before the inventory was accepted for accounting, if it was raised for the acquisition of these inventories;
costs of bringing inventories to a state in which they are suitable for use for the intended purposes. These costs include the organization’s costs of processing, sorting, packaging and improving the technical characteristics of received stocks, not related to the production of products, performance of work and provision of services;
other costs directly related to the acquisition of inventories.
General and other similar expenses are not included in the actual costs of purchasing inventories, except when they are directly related to the acquisition of inventories.
(as amended by order of the Ministry of Finance of Russia dated November 27, 2006 No. 156n)
7. 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.
8. The actual cost of inventories contributed as a contribution to the authorized (share) capital of the organization is determined based on their monetary value agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation.
9. The actual cost of inventories received by an organization under a gift agreement or free of charge, as well as those remaining from the disposal of fixed assets and other property, is determined based on their current market value as of the date of acceptance for accounting.
For the purposes of this Regulation, current market value means the amount of money that can be received as a result of the sale of these assets.
10. The actual cost of inventories received under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the cost of assets transferred or to be transferred by the organization. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.
If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of inventories received by the organization under contracts providing for the fulfillment of obligations (payment) in non-monetary means is determined based on the price at which similar inventories are purchased in comparable circumstances.
11. The actual cost of inventories, determined in accordance with paragraphs 8, 9 and 10 of these Regulations, also includes the actual costs of the organization for the delivery of inventories and bringing them into a condition suitable for use, listed in paragraph 6 of these Regulations .
12. The actual cost of inventories, in which they are accepted for accounting, is not subject to change, except in cases established by the legislation of the Russian Federation.
13. An organization engaged in trading activities may include the costs of procuring and delivering goods to central warehouses (bases), incurred until they are transferred for sale, as part of sales costs.
Goods purchased by an organization for sale are valued at their cost of acquisition. An organization engaged in retail trade is allowed to evaluate purchased goods at their selling price with separate consideration of markups (discounts).
13.1. An organization that has the right to use simplified accounting methods, including simplified accounting (financial) reporting, can evaluate purchased inventories at the supplier’s price. At the same time, other costs directly related to the acquisition of inventories are included in expenses for ordinary activities in full in the period in which they were incurred.
13.2. A micro-enterprise that has the right to use simplified accounting methods, including simplified accounting (financial) statements, may recognize the cost of raw materials, supplies, goods, other costs for production and preparation for sale of products and goods as expenses for ordinary activities in the full amount at as they are acquired (implemented).
Another organization that has the right to use simplified accounting methods, including simplified accounting (financial) statements, may recognize these costs as expenses for ordinary activities in full, provided that the nature of the activity of such an organization does not imply the presence of significant material and production balances stocks. At the same time, significant balances of inventories are considered to be those balances, information about the presence of which in the financial statements of an organization can influence the decisions of users of the financial statements of this organization.
(introduced by order of the Ministry of Finance of Russia dated May 16, 2016 No. 64n)
13.3. An organization that has the right to apply simplified accounting methods, including simplified accounting (financial) statements, may recognize expenses for the acquisition of inventories intended for management needs as expenses for ordinary activities in the full amount as they are acquired (implemented) ).
(introduced by order of the Ministry of Finance of Russia dated May 16, 2016 No. 64n)
14. Inventories that do not belong to the organization, but are in its use or disposal in accordance with the terms of the contract, are taken into account in the assessment provided for in the contract.
15. Excluded (Order of the Ministry of Finance of Russia dated November 27, 2006 No. 156n).
III. Release of inventories
16. When releasing inventories (except for goods accounted for at sales value) into production and otherwise disposing of them, they are assessed in one of the following ways:
at the cost of each unit; at average cost;
at the cost of the first acquisition of inventories (FIFO method);
The application of one of the specified methods for a group (type) of inventories is based on the assumption of consistency in the application of accounting policies.
(as amended by order of the Ministry of Finance of Russia dated March 26, 2007 No. 26n)
17. Inventories used by the organization in a special manner (precious metals, precious stones, etc.), or inventories that cannot normally replace each other, can be valued at the cost of each unit of such inventories.
18. The assessment of inventories at average cost is carried out for each group (type) of inventories by dividing the total cost of the group (type) of inventories by their quantity, consisting respectively of the cost price and the amount of balance at the beginning of the month and the inventory received during the given month.
19. Estimation at cost of the first acquisition of inventories (FIFO method) is based on the assumption that inventories are used within a month or another period in the sequence of their acquisition (receipt), i.e. inventories that are the first to enter production (sale) must be valued at the cost of the first acquisitions, taking into account the cost of inventories listed at the beginning of the month. When applying this method, the assessment of inventories in stock (in warehouse) at the end of the month is made at the actual cost of the latest acquisitions, and the cost of goods, products, works, services sold takes into account the cost of earlier acquisitions.
20. Excluded (Order of the Ministry of Finance of Russia dated March 26, 2007 No. 26n).
21. For each group (type) of inventories during the reporting year, one valuation method is used.
22. Valuation of inventories at the end of the reporting period (except for goods accounted for at sales value) is carried out depending on the accepted method for valuing inventories upon disposal, i.e. at the cost of each unit of inventory, the average cost, the cost of the first acquisitions.
(as amended by order of the Ministry of Finance of Russia dated March 26, 2007 No. 26n)
IV. Disclosure of information in financial statements
23. Inventories are reflected in the financial statements in accordance with their classification (distribution into groups (types)) based on the method of use in the production of products, performance of work, provision of services, or for the management needs of the organization.
24. At the end of the reporting year, inventories are reflected in the balance sheet at a cost determined on the basis of the inventory valuation methods used.
25. Inventories that are obsolete, have completely or partially lost their original quality, or the current market value, the selling price of which has decreased, are reflected in the balance sheet at the end of the reporting year minus a reserve for a decrease in the value of material assets. The reserve for reducing the value of material assets is formed at the expense of the organization’s financial results by the amount of the difference between the current market value and the actual cost of inventories, if the latter is higher than the current market value.
This paragraph may not be applied by an organization that has the right to use simplified accounting methods, including simplified accounting (financial) reporting.
(paragraph introduced by order of the Ministry of Finance of Russia dated May 16, 2016 No. 64n)
26. Inventories owned by the organization, but in transit, or transferred to the buyer as collateral, are taken into account in accounting in the assessment provided for in the contract, with subsequent clarification of the actual cost.
In accordance with PBU 5/01 “Accounting for inventories,” assets are accepted as inventories: those used as raw materials, supplies, etc. in the production of products intended for sale (performing work, specifying services); intended for sale (goods, finished products, etc.); used for the management needs of the enterprise.
Materials are understood as various material elements of production used as objects of labor in the production process. Materials belong to the working capital of the enterprise. They are entirely consumed in each production cycle and fully transfer their value to the cost of manufactured products. The materials also take into account labor tools with a service life of less than 12 months, which can be repeatedly involved in the production process (they are taken into account in subaccounts 9, 10, 11 of account 10).
The main tasks of inventory accounting: Control over the safety of valuables. Compliance of warehouse stocks with standards. Execution of materials supply plans. Identification of actual costs associated with the procurement of materials. Monitoring compliance with production consumption standards. Correct distribution of the cost of materials used in production among costing objects.
The following accounts are used to account for materials: account 10 “Materials”: 10/1 – raw materials and materials; 10/2 – purchased semi-finished products and components, structures and parts; 10/3 – fuel; 10/4 – containers and packaging materials; 10/5 – spare parts; 10/6 – other materials; 10/7 – materials transferred for processing to third parties; 10/8 – building materials; 10/9 – inventory and household supplies; 10/10 – special equipment and special clothing in stock; 10/11 – special equipment and special clothing in use.
Account 14 – “Reserves for reducing the value of material assets.” Account 15 – “Procurement and acquisition of material assets.” Account 16 – “Deviation in the cost of materials” (accounting cost - actual cost of acquisition). Materials that do not belong to this enterprise are separated into separate groups and recorded on off-balance sheet accounts 002 “Inventory assets accepted for safekeeping”, 003 “Materials accepted for processing”.
Goods are part of the inventory intended for resale. Synthetic accounting of goods is carried out in account 41 “Goods”, taking into account all the above requirements in the context of assortment groups. Finished products are a part of the inventory intended for sale, which is the end result of the production process, completed by processing (assembly). To summarize information about the availability and movement of finished products, account 43 “Finished products” is intended. Analytical accounting is carried out by product type.
Valuation of received materials In account 10, production inventories can be accounted for according to one of two estimates: at the actual cost of acquisition (procurement) and at accounting prices. The actual cost of inventories is determined depending on the methods of receipt: 1) Purchased for a fee - the amount of actual costs minus VAT (payments to suppliers, customs duties, fees to intermediaries, procurement and delivery costs - procurement staff salary, transport, interest on loans - commercial and banking and other costs associated with the acquisition of inventories). 2) Manufactured in-house – costs associated with production (sales, basic materials, depreciation).
Valuation of received materials 3) Acquired in exchange for other property - at the cost of the exchanged property. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets. If it is impossible to determine the value of assets, it is determined based on the price at which similar inventories are purchased in comparable circumstances. 5) Freely received, identified during the inventory process - based on the market value of similar material.
ASSESSMENT OF ISSUED INVESTMENTS The release of inventories into production and their other disposal is carried out using one of the methods: 1) at the cost of each unit - used for certain types of expensive or non-replaceable materials 2) at the average cost - two options: weighted average (based on the monthly average - in in this case, based on the results of the month, a recalculation is made) and a moving average estimate (determining the cost at the time of release) 3) at the cost of the first in time acquisition of inventories (FIFO) - materials and goods are written off in the order of receipt For each group (type) of inventories in During the reporting year, one assessment method is used.
EXAMPLE Quantity Price Amount Remaining materials for XX Received: Total received Consumed 50
Accounting for receipt of goods and materials The movement of materials is documented using primary documents: external and internal. External documents - invoices, delivery notes and waybills - are issued by suppliers and carriers. In accounting, these documents are reflected in special. register – journal for registering supplier accounts. Internal documents are prepared at the enterprise. Unified forms of primary accounting documentation: M-1 – journal of incoming cargo, M-2 (a, b) – powers of attorney to receive goods and a log of registration of powers of attorney, M-3 and M-4 – receipt order – receipt of materials at the warehouse (one-line and multiline).
Accounting for receipt of materials If, during the process of accepting materials, shortages or quality deviations are detected, then such materials are accepted by the commission and a materials acceptance certificate is drawn up. Uninvoiced deliveries are registered in w/o 6 only at the end of the month according to a firm accounting estimate in the subaccount to account 10 “Uninvoiced deliveries” on the basis of an act. After receipt of supplier documents, reversal entries are made and then direct ones. If documents for materials arrive before the materials themselves, then they are credited to account 10, subaccount “Materials in transit” at the discount price. After receipt of materials, previously made transactions are reversed and carried out in accordance with the received documents.
Accounting for receipt of materials Accounting for the presence and movement of materials belonging to the organization is maintained on active accounts: 10 “Materials”, 14 “Reserves for reducing the cost of material assets”, 15 “Procurement and acquisition of material assets”, 16 “Deviation in the cost of material assets” ; Account 19/3 “VAT on purchased inventories Small enterprises can only use account 10.
Accounting for receipt of materials Account 10 has a number of sub-accounts: 10.1 – Raw materials and supplies - raw materials, basic and auxiliary materials, 10.2 – Purchased PF and components, 10.3 – Fuel - for all types of fuel, Containers and packaging materials, 10.5 – Spare parts, 10 -6 – other materials, 10.7 – Materials transferred for processing, 10.8 – Construction materials, 10.9 – inventory and household supplies, – Special equipment and special clothing in the warehouse, – Special equipment and special clothing in operation. Materials that do not belong to the organization: account 002 – “Inventory and materials accepted for safekeeping”, account 003 – “Materials accepted for processing” (raw materials supplied by customer).
Accounting for the receipt of inventories at actual cost The debit of account 10 reflects all acquisition costs in correspondence with the credit of different accounts depending on the sources of their receipt: D account 10 – K account 60,23,20,41,43,91, etc. With this accounting option, account 10, in addition to the cost of purchased materials at supplier prices, also reflects acquisition and delivery costs (P&D). To account for TZR, a subaccount “Transportation and procurement expenses” is opened to account 10. D account 10/TZR – K account 60,51,71, etc. The actual cost of inventory and materials in this accounting option is the sum of turnover in the debit of account 10 “Materials” and the debit of the subaccount “TZR”
Issue of materials Issue of materials (to workshops, sales, shortages) is reflected by the entry: D account 20,23,25,26,28 – To account 10 – for production needs D account 29 – To account 10 – to service farms D account .91 - To account 10 - in joint activities, in the management capital of another organization D account 94 - To account 10 - shortage and damage to materials.
Issue of materials At the end of the month, the organization's accounting department determines the actual cost of materials consumed. To do this, the amount of TRP related to the consumed assets (materials) is calculated. To do this: 1). Determine the percentage of TZR: (Sn 10/TZR + Obd 10/TZR)*100%, Snsch.10 + Obdsch.10 where Sn is the balance at the beginning. Turnover on Dt 2) Determine the amount of TRP attributable to the cost of materials consumed: Amount of TRP = (Turnover on credit of materials in purchase prices * % TRP)/100%
EXAMPLE: Account balances for – 1. materials – a) wholesale price – rub. b) TRZ rub. Contents of business transactions: 1) Accepted supplier's invoice for received materials rub. 2) The invoice of the transport organization for the delivery of materials has been accepted –) The costs of unloading the materials have been paid by the accountable person –) The materials have been released at wholesale prices - for the manufacture of products - general production needs - general business needs - Determine the technical requirements related to the materials consumed, record accounting entries, open accounts . 1. %TZR = ()*100/()=10.17% 2. TZR: a) for production: *0.1017=48816 rub. b) for general production needs: *0.1017=10170 rub. c) for general economic needs: 50000 * 0.1017 = 5085 rubles.
Accounting for the receipt of inventories at a fixed accounting price With this method of accounting, all costs for the acquisition of material assets are taken into account in Dt account 15 in correspondence with the credit of various accounts (60,71,23,20, etc.), and in account 10 “Materials” " their firm assessment (account prices) is reflected (i.e., materials actually received are written off from the credit of account 15 to the debit of account 10 at accounting prices). The difference between the actual cost of materials and their accounting prices is written off from account 15 to account 16 (D16 - K15). D account 15 - To account 60,71,20,23, etc. - actual costs for the acquisition of material assets D account 10 - To account 15 - the cost of material assets received at the warehouse is written off at accounting prices
Accounting for the receipt of inventories at a fixed accounting price D account 16 - To account 15 - the deviation of the actual cost of materials from the accounting price is written off (+ if the actual cost of materials is higher than their accounting price, - if the accounting price of materials is higher than their actual cost) - postings only by credit D account 20,23,25,26 – To account 10 – release of materials at accounting prices D account 20 – To account 16 – at the end of the month, the amount of deviations related to consumed (used) values is written off. To do this, the percentage of deviations is calculated: 1) % deviations = (SNsch.16 + Obdsch.16) * 100/SNsch.10 + obdsch.10 2) sum of deviations = (% deviations / 100) * cost of consumed materials
EXAMPLE (in rubles): Account balances for - materials at accounting prices - deviation in the cost of material assets - 5000 Business transactions: 1) Materials received as of fact. cost - D 15 - K 60 2) Materials were received into the warehouse at accounting prices - D 10 - K 15 3) Deviations in the cost of materials are written off - D 16 - K15 4) Materials were released at accounting prices: - for the manufacture of products - D 20 - K 10 - general production needs - D 25 - K 10 - general economic needs - D 26 - K 10 5) Deviations in the cost of materials are written off: a) determine the % of deviations = ()*100/()=13.07 b) the amount of deviations: - production costs = *13.07/100= D 20 - K 16 - for general production needs = 90000 * 13.07/100 = 11763 D 25 - K 16 - for general economic needs = 80000 * 13.07/100 = 1056 D 26 – K 16
Synthetic accounting of material consumption The main type of material consumption is release into production, and they can also be sent for processing to other organizations and sold. The release of materials into production is carried out on the basis of material consumption standards and the production program. The maximum amount of materials released from the warehouse to the workshop is called a limit. The release of materials into production within the established limit is documented by a primary document - a limit intake card (form M-8). Over-limit release of materials from the warehouse is documented with invoice requirements (F. M-10 and M-11). The release of materials is formalized: for processing by an order-invoice, to the buyer - by a delivery note.
Synthetic accounting of materials consumption Sales of materials to third parties are reflected in account 91 “Other income and expenses.” Analytical accounting of materials is organized both in the warehouse (in physical terms in accounting cards by type of materials) and in the accounting department (in physical and monetary terms - turnover sheets for each warehouse for materially responsible persons). Warehouse and accounting data must be reconciled monthly. Shortages of materials are reflected in account 94: D account 94 – K account 10.
Features of accounting for special equipment and special clothing (CO and CO) 1) Accepted for accounting at actual cost in a special subaccount to the account - “CO and CO in warehouse”. (in correspondence with 60,71,20,23, etc.). 2) Release of CO and CO into operation, they are reflected: Дт сч “СО and ССО in operation” – Ксч – if the service life is more than one year. If the service life is less than 12 months, then it is allowed to be written off directly to cost accounts (D accounts 20,23, ...), but in order to preserve special equipment at the places of operation, off-balance sheet accounting can be organized.
Features of accounting for CO and CO The duration of operation of special equipment necessitates the gradual repayment of its cost in one of the following ways: linear method (if wear and tear is not directly related to the number of products produced); a method of writing off the cost in proportion to the volume of produced products, works, services, if its useful life depends on the quantity of produced products. In the BU, depreciation is calculated monthly: D account 20,23,25,29... - To account Disposal of CO and CO as a result of physical and moral wear and tear is carried out on the basis of a write-off act for the specified objects.
Reserves for reducing the cost of materials The organization can create a reserve for reducing the cost of those materials and equipment that are morally or physically obsolete, or whose market price has decreased. Reserves are accounted for in passive account 14 “Reserves for reduction in the value of material assets.” The formation of reserves is made at the end of the reporting year and is reflected by the entry: Debit account. 91 – Credit account. 14. These reserves are not reflected separately in the balance sheet (they are deducted from the amount of inventories).
Accounting for the availability and movement of goods Goods are material assets acquired directly for sale. Analytical accounting is maintained for each trading unit (store), and within each trading unit - for financially responsible persons. It is possible to organize for each unit of goods only when their receipt and disposal is documented with documents indicating the name, quantity and price of the goods. Financially responsible persons can keep records in quantitative or monetary terms.
Accounting for the availability and movement of goods In wholesale trade organizations, goods are taken into account at the cost of their acquisition. The costs of procuring and delivering them to the organization’s warehouses can: 1) be included in sales costs or 2) included in the purchase price of the goods. Organizations engaged in retail trade can evaluate purchased goods at sales (retail) cost with separate consideration of markups (discounts). Accounting for the availability and movement of goods is kept in account 41 “Goods” in subaccounts: 41.1 “Goods in warehouses”, 41.2 “Goods in retail trade”, 41.3 “Containers under goods and empty”, etc.
Accounting for the presence and movement of goods Receipt of goods can be reflected using account 15 or without it in a manner similar to accounting for materials: 1st option - at the cost of acquisition: D account 41.19 - To account 60 - amount on the supplier's account D account 44.19 – Account 60 – amount on accounts of transport and other organizations 2nd option – procurement costs are included in the purchase price: Account 41.19 – Account 60 – price of the goods and expenses for its procurement and delivery 3rd option – accounting at sales (retail) prices: D 41/2 – K 60 – supplier price with VAT D 41/2 – K 42 – trade margin
Approved
By order
Ministry of Finance
Russian Federation
dated 06/09/2001 N 44n
POSITION
ON ACCOUNTING
"ACCOUNTING FOR INVENTORIES" PBU 5/01
List of changing documents
(as amended by Orders of the Ministry of Finance of Russia dated November 27, 2006 N 156n,
dated 03/26/2007 N 26n, dated 10/25/2010 N 132n, dated 05/16/2016 N 64n)
I. General provisions
1. These Regulations establish the rules for the formation in accounting of information about the organization’s inventories. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and state (municipal) institutions).
2. For the purposes of these Regulations, the following assets are accepted for accounting as inventories:
used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services);
intended for sale;
used for the management needs of the organization.
Finished products are part of inventories intended for sale (the final result of the production cycle, assets completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents, in cases established by law).
Goods are part of inventories purchased or received from other legal entities or individuals and intended for sale.
3. The accounting unit for inventories is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these inventories, as well as proper control over their availability and movement. Depending on the nature of inventories, the order of their acquisition and use, a unit of inventories can be an item number, batch, homogeneous group, etc.
4. This Regulation does not apply to assets characterized as work in progress.
II. Valuation of inventories
5. Inventories are accepted for accounting at actual cost.
6. The actual cost of inventories purchased for a fee is the amount of the organization’s actual costs for the acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation).
The actual costs of purchasing inventories include:
amounts paid in accordance with the agreement to the supplier (seller);
amounts paid to organizations for information and consulting services related to the acquisition of inventories;
customs duties;
non-refundable taxes paid in connection with the acquisition of a unit of inventory;
remunerations paid to the intermediary organization through which inventories were acquired;
costs for the procurement and delivery of inventories to the place of their use, including insurance costs. These costs include, in particular, costs for the procurement and delivery of inventories; costs of maintaining the procurement and warehouse division of the organization, costs of transport services for the delivery of inventories to the place of their use, if they are not included in the price of inventories established by the contract; accrued interest on loans provided by suppliers (commercial loan); interest on borrowed funds accrued before the inventory was accepted for accounting, if it was raised for the acquisition of these inventories;
costs of bringing inventories to a state in which they are suitable for use for the intended purposes. These costs include the organization’s costs of processing, sorting, packaging and improving the technical characteristics of received stocks, not related to the production of products, performance of work and provision of services;
other costs directly related to the acquisition of inventories.
General and other similar expenses are not included in the actual costs of purchasing inventories, except when they are directly related to the acquisition of inventories.
The paragraph has been deleted. - Order of the Ministry of Finance of Russia dated November 27, 2006 N 156n.
7. 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.
8. The actual cost of inventories contributed as a contribution to the authorized (share) capital of the organization is determined based on their monetary value agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation.
9. The actual cost of inventories received by an organization under a gift agreement or free of charge, as well as those remaining from the disposal of fixed assets and other property, is determined based on their current market value as of the date of acceptance for accounting.
For the purposes of this Regulation, current market value means the amount of money that can be received as a result of the sale of these assets.
10. The actual cost of inventories received under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the cost of assets transferred or to be transferred by the organization. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.
If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of inventories received by the organization under agreements providing for the fulfillment of obligations (payment) in non-monetary means is determined based on the price at which similar inventories are purchased in comparable circumstances.
11. The actual cost of inventories, determined in accordance with paragraphs 8, 9 and 10 of these Regulations, also includes the actual costs of the organization for the delivery of inventories and bringing them into a condition suitable for use, listed in paragraph 6 of these Regulations .
12. The actual cost of inventories, in which they are accepted for accounting, is not subject to change, except in cases established by the legislation of the Russian Federation.
13. An organization engaged in trading activities may include the costs of procuring and delivering goods to central warehouses (bases), incurred until they are transferred for sale, as part of sales costs.
Goods purchased by an organization for sale are valued at their cost of acquisition. An organization engaged in retail trade is allowed to evaluate purchased goods at their selling price with separate consideration of markups (discounts).
13.1. An organization that has the right to use simplified accounting methods, including simplified accounting (financial) reporting, can evaluate purchased inventories at the supplier’s price. At the same time, other costs directly related to the acquisition of inventories are included in expenses for ordinary activities in full in the period in which they were incurred.
13.2. A micro-enterprise that has the right to use simplified accounting methods, including simplified accounting (financial) statements, may recognize the cost of raw materials, supplies, goods, other costs for production and preparation for sale of products and goods as expenses for ordinary activities in the full amount at as they are acquired (implemented).
Another organization that has the right to use simplified accounting methods, including simplified accounting (financial) statements, may recognize these costs as expenses for ordinary activities in full, provided that the nature of the activity of such an organization does not imply the presence of significant material and production balances stocks. At the same time, significant balances of inventories are considered to be those balances, information about the presence of which in the financial statements of an organization can influence the decisions of users of the financial statements of this organization.
13.3. An organization that has the right to apply simplified accounting methods, including simplified accounting (financial) statements, may recognize expenses for the acquisition of inventories intended for management needs as expenses for ordinary activities in the full amount as they are acquired (implemented) ).
14. Inventories that do not belong to the organization, but are in its use or disposal in accordance with the terms of the contract, are taken into account in the assessment provided for in the contract.
15. Excluded. - Order of the Ministry of Finance of Russia dated November 27, 2006 N 156n.
III. Release of inventories
16. When releasing inventories (except for goods accounted for at sales value) into production and otherwise disposing of them, they are assessed in one of the following ways:
at the cost of each unit;
at average cost;
at the cost of the first acquisition of inventories (FIFO method);
The application of one of the specified methods for a group (type) of inventories is based on the assumption of consistency in the application of accounting policies.
17. Inventories used by the organization in a special manner (precious metals, precious stones, etc.), or inventories that cannot normally replace each other, can be valued at the cost of each unit of such inventories.
18. The assessment of inventories at average cost is carried out for each group (type) of inventories by dividing the total cost of the group (type) of inventories by their quantity, consisting respectively of the cost price and the amount of balance at the beginning of the month and the inventory received during the given month.
19. Estimation at cost of the first acquisition of inventories (FIFO method) is based on the assumption that inventories are used within a month or another period in the sequence of their acquisition (receipt), i.e. inventories that are the first to enter production (sale) must be valued at the cost of the first acquisitions, taking into account the cost of inventories listed at the beginning of the month. When applying this method, the assessment of inventories in stock (in warehouse) at the end of the month is made at the actual cost of the latest acquisitions, and the cost of goods, products, works, services sold takes into account the cost of earlier acquisitions.
21. For each group (type) of inventories during the reporting year, one valuation method is used.
22. Valuation of inventories at the end of the reporting period (except for goods accounted for at sales value) is carried out depending on the accepted method for valuing inventories upon disposal, i.e. at the cost of each unit of inventory, the average cost, the cost of the first acquisitions.
IV. Disclosure of information in financial statements
23. Inventories are reflected in the financial statements in accordance with their classification (distribution into groups (types)) based on the method of use in the production of products, performance of work, provision of services, or for the management needs of the organization.
24. At the end of the reporting year, inventories are reflected in the balance sheet at a cost determined on the basis of the inventory valuation methods used.
25. Inventories that are obsolete, have completely or partially lost their original quality, or the current market value, the selling price of which has decreased, are reflected in the balance sheet at the end of the reporting year minus a reserve for a decrease in the value of material assets. A reserve for reducing the value of material assets is formed at the expense of the organization’s financial results by the amount of the difference between the current market value and the actual cost of inventories, if the latter is higher than the current market value.
This paragraph may not be applied by an organization that has the right to use simplified accounting methods, including simplified accounting (financial) reporting.
26. Inventories owned by the organization, but in transit or transferred to the buyer as collateral, are taken into account in accounting in the assessment provided for in the contract, with subsequent clarification of the actual cost.
27. In the financial statements, at least the following information is subject to disclosure, taking into account materiality:
on methods for assessing inventories by their groups (types);
about the consequences of changes in methods of valuing inventories;
on the cost of inventories pledged;
on the amount and movement of reserves for reducing the value of material assets.