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Accounting of Finished Products and Problematic Aspects of Its Assessment
Gorohovets J. A., Dzherina K. S.

Gorohovets, Juliya A., and Dzherina, Karolina S. (2024) “Accounting of Finished Products and Problematic Aspects of Its Assessment.” Business Inform 10:739–739.
https://doi.org/10.32983/2222-4459-2024-10-739-739

Section: Accounting and Auditing

Article is written in Ukrainian
Downloads/views: 0

UDC 657.4:658.784

Abstract:
In today’s conditions, the key aspect of the activity of a manufacturing enterprise is the establishment of efficient production and sale of manufactured finished products. A significant importance in solving these points is given to accounting, the main task of which is to reliably and timely reflect economic transactions at all stages of production and sale of finished products. Accounting for finished products at enterprises provides control over the quantity, quality and movement of products, helps to avoid losses during storage and transportation, ensures the timely sale of stocks and optimization of warehouse processes, which helps to reduce the risks of overproduction or shortage of products, allows enterprises to better respond to market demand and ensures stable profits. The article considers the essence of finished products as an economic category – from the point of view of scientists and legislation. As a result of the study, the definition of the concept of «finished products» as the final result of the production activity of the enterprise, which has passed all stages of processing, meets the established technical conditions and standards, is completed by testing, accepted into the warehouse, transferred to the customer, has the appropriate quality certificates. The accounts used for accounting of finished products and the accounts on which income and expenses are recorded in the manufacture and sale of finished products are considered, and accounting correspondence is shown. In particular, account 26 «Finished products», 361 «Settlements with domestic buyers and customers», 901 «Cost of finished products sold», 701 «Income from the sale of finished products». The peculiarities of the movement of finished products at the actual production cost and the reflection of these operations in accounting are presented. Methods for determining the cost of products sold are disclosed. Examples of reflecting in accounting operations for shipment of finished products on the terms of deferred payment and prepayment are provided. The primary documents on the basis of which accounting for the shipment of finished products is carried out on the terms of deferred payment and prepayment are specified.

Keywords: finished products, accounting for finished products, actual production cost.

Tabl.: 8. Bibl.: 14.

Gorohovets Juliya A. – Candidate of Sciences (Economics), Senior Lecturer, Department of Accounting and Taxation, Zaporizhzhia National University (66 Zhukovskoho Str., Zaporіzhzhia, 69600, Ukraine)
Dzherina Karolina S. – Accountant, FS «Rassvet» (Andriivka village, Velykonovosilkivskyi district, Donetsk region, 85540, Ukraine)
Email: [email protected]

List of references in article

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