You will need
- These financial statements:
- - on the natural volume of work in progress;
- - on the actual direct costs for the month(the account 20 "Primary production").
- A contract for work concluded with the customer.
Instruction
1
Determine the natural volume of work in progress (undelivered orders) inventory at the end of the month. Inventory data are recorded monthly the inventory lists or other documents which the execution of production orders. Identify the contract (estimated) cost of incomplete orders (under contracts on performance of work concluded with the customer) at the beginning and at the end of the month, count the contract (estimated) value of orders completed during the month.
2
Determine the proportion of work in progress in the total number of orders at the end of the month. Calculate it as follows:contractual (estimated) value of outstanding orders at the beginning of the month add the contract (estimated) value of orders completed during the month. Divide the contract (estimated) value of backlog at end of month orders received number.
3
Calculate the actual cost of work in progress. To do this, divide the total direct costs between completed orders and work in progress in the following way.
Take the remainder of the actual amount of direct costs at the beginning of the month, add the total amount of actual and direct costs according to accounting data (turnover in the debit account 20 "Primary production"). Multiplying the total amount of direct costs for the month and the balance the beginning of the month to share work in progress at the end of the month, you will receive the actual cost of work in progress at the end of the month.
Take the remainder of the actual amount of direct costs at the beginning of the month, add the total amount of actual and direct costs according to accounting data (turnover in the debit account 20 "Primary production"). Multiplying the total amount of direct costs for the month and the balance the beginning of the month to share work in progress at the end of the month, you will receive the actual cost of work in progress at the end of the month.
4
Specify the accounting policy, the allocation of direct costs to perform and "unfinished". In accordance with the guidelines of MNS of Russia on income tax, you can choose economically reasonable metric on which are distributed the direct costs:the cost of orders (contract, cost estimate, cost the sum of direct costs in a specific order), or physical indicators, if these indicators at different orders are comparable (kilometers, etc.).
Note
Assessment of the balance of work in progress shall be documented in statements of the assessment of the balance of work in progress. This document constitute the whole of the organization, the locations and types of products. The data reflected in the document serve as the basis for the allocation of costs between finished products and "unfinished" – on the one hand, and between different types of products.
Forms of statements are developed by the organization itself, depending on the characteristics of production.
Forms of statements are developed by the organization itself, depending on the characteristics of production.
