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1、国际会计准则-存货International accounting standards inventoryInternational accounting standards second revision 200XobjectiveThe purpose of this code is to make provision for the accounting treatment of inventories. The basic problem in inventory accounting is the amount of money that is determined when the
2、 asset is recognized as assets and until the relevant revenue is recognized. The guidelines provide guidance for the determination of costs and subsequent confirmation of costs, including write down to net realisable value. This guideline also provides guidance for cost allocation to each inventory
3、costing approach.Range1. this rule applies to the accounting treatment of inventories and does not apply to the following items:(1) construction contract (including directly related labor contract) formed under construction (see international accounting standards eleventh - construction contract);(2
4、) financial instruments;(3) in accordance with the established practice in specific industries, the net worth measurement is used as inventory of agricultural and forestry products and mineral products; and(4) biological assets related to agricultural activities (see international accounting standar
5、ds forty-first - agriculture).3. inventories referred to in paragraph first (3) shall be measured by net realisable value at certain stages of production. For example, when the crop has been harvested or mineral products has been mined and its sales have been through a forward contract or government
6、 guarantee guarantee, or, if there is an active market and can be omitted without timing unsalable risk, this is the case. These inventories are not included in the scope of this code.Definition4. the terms used in this code are:Inventory refers to one of the following assets:(1) to hold for sale in
7、 the course of normal operation;(2) for sale and still in the production process; or(3) materials or materials that will be consumed in the process of producing or providing services.Net realisable value refers to the value of the estimated value of the sale minus the estimated cost of completion an
8、d the necessary cost of sales in the normal course of business.5. inventories include goods purchased for resale, such as goods purchased by retailers and used for retail sale, or land held for resale and other real estate. Inventories also include finished goods produced by the entity, products and
9、 materials and materials that will be used in the production process. As far as the service provider is concerned, the inventory includes the labor costs referred to in the sixteenth paragraph, and the relevant income has not been recognized for these entities (see International Accounting Standards
10、 No. eighteenth income).Inventory measurement6. inventories should be measured at the lower of the cost and net realisable value.Inventory measurement inventory cost7. the cost of inventory shall include all procurement costs, processing costs and other costs that make the inventory reach the curren
11、t site and state.Inventory measurement inventory cost procurement costThe purchase cost 8. of inventory by the purchase price, import duties and other taxes (excluding the day after the entity can be returned from the tax department of the tax), which transport costs, handling fees and other can be
12、directly attributed to the products, materials and labor costs. Business discounts, rebates and other similar items should be deducted when determining purchasing costs.Inventory measurement - inventory cost - processing cost10. the processing cost of inventory includes the costs directly related to
13、 the production, such as direct labor. They also include systematic quotas for fixed and variable indirect production costs that occur during the processing of materials into finished products. Fixed indirect production costs refer to indirect production costs that remain relatively unchanged when p
14、roduction changes, such as depreciation and maintenance costs of plant and equipment, factory management fees and administrative expenses, etc. Variable indirect production costs refer to indirect production costs that vary directly or indirectly with production, such as indirect material and indire
15、ct labor.11. fixed indirect production costs should be allocated on the basis of the normal production capacity of the production equipment, including processing costs. Normal production capacity refers to the average amount of production that can be expected in a certain period or season under norm
16、al production conditions, taking into account the loss of production capacity resulting from planned maintenance.If the actual production level is close to the normal production capacity, the actual production level can be taken as the basis. The amount of fixed indirect expenses allocated to each u
17、nit is not increased due to low production or shutdown. Indirect expenses that cannot be allocated shall be recognized as expenses in the period in which they occur. During the period of extremely high production, the amount of fixed indirect expenses allocated to the unit product will be reduced, s
18、o that the inventory will not be measured at a cost higher than the cost. Variable indirect production costs should be allocated to unit products based on the actual use of production equipment.12. the same production process may produce more than one product at the same time. The production of link
19、ed products, or the production of both primary and secondary products, is an example of this. If the processing cost of each product can not be identified individually, then the cost should be allocated between the products on a reasonable and consistent basis. For example, when the product can be i
20、dentified individually or at the end of production, the distribution value of each product can be assigned on the basis of the corresponding sales value. Most by-products are of little value in terms of their nature. In this case, they are usually measured by net realisable value, and the value shou
21、ld be deducted from the cost of the main product. In this way, there is no significant difference between the carrying amount of the main product and its cost.Inventory measurement - inventory cost - other costs13. other costs included in the inventory are limited to the cost of bringing the invento
22、ry to the present place and state. For example, non productive indirect costs or product design costs that may occur for a particular customer, including inventory costs, may be appropriate.14. should not be included in the cost of inventory, but should be recognized in the current period of the cos
23、t of the project has:(1) abnormal waste of raw materials, labor or other production costs;(2) storage costs, but those in the production process to achieve the next stage of production must be the exception of the storage costs;(3) do not help to make the inventory to the present place and state of
24、indirect administrative costs;(4) sales expenses.15. in limited circumstances, the cost of borrowing should be included in the cost of inventory. These conditions are clearly defined in the accounting standards twenty-third - borrowing costs allowing the choice of processing methods.Inventory measur
25、ement inventory cost labor provider inventory cost16. the service provider has inventory when the income related to the services provided has not been confirmed. The inventory cost of the service provider mainly includes the labor and other expenses of the personnel directly engaged in the labor ser
26、vice (including the supervisor) and the indirect expenses attributable to them. Labor and other costs associated with sales and general management are not included in the inventory costs of the service provider, but should be recognised as expenses in the period in which they occur. The cost of the
27、inventory of the service provider does not include the marginal or non productive costs that are usually included in the service providers charges.Inventory measurement - inventory cost - the cost of agricultural products harvested from biological assets16A. according to the International Accounting
28、 Standards No. forty-first - agriculture, cost measurement entities harvested from biological assets on agricultural inventories are initially recognized at fair value minus the expected sales in the harvest time point. This is the inventory cost of the day when the code is applied.Inventory measure
29、ment inventory cost cost calculation method17. some calculation methods of inventory cost, such as standard costing or retail price, can be used to simplify accounting if the result of calculation is close to the cost. The standard cost is formulated by considering the normal levels of raw materials
30、 and materials, labor, efficiency, and production capacity. It should be checked regularly and, if necessary, amended according to the current situation.The 18. retail price method is usually used to measure a large number of rapidly revolving inventory items in retail, which have similar marginal p
31、rofits, and are infeasible to use other cost calculation methods. The inventory cost is determined by subtracting the gross profit determined by the appropriate proportion. The proportion used should be taken into account when the price has been marked below the initial selling price. The retail sec
32、tor often uses an average proportion.Inventory measurement cost calculation19. for the inventory items that cannot normally be substituted for each other, and the cost of goods and services provided for the production and storage of a particular plan, the individual cost shall be calculated by indiv
33、idual identification.20. the individual identification of cost refers to the method of individual cost accounting according to the identifiable items of inventory. For the inventories prepared for a particular plan, whether purchased or self-produced, the individual identification of the cost is app
34、ropriate. However, the individual identification method of cost is inappropriate for the inventory items which can usually replace each other and have large quantities. In this case, the choice of the items retained in the inventory can be used to determine the effect on the net profit or loss.21. t
35、he cost of inventory (except for the inventory involved in the nineteenth paragraph) should be calculated by the FIFO method or the weighted average cost method. The entity shall use the same costing method for all inventories of similar nature and use. Different methods of cost calculation can be u
36、sed for inventory with different properties or different uses.21A., for example, the specific goods used in a business segment and the same type of goods for another business segment can adopt different costing methods. However, the difference between the geographical location of the inventory (and
37、the respective tax regulations) is not sufficient to explain the different cost calculation methods.22. the first in first out method assumes that the stocks first purchased or produced are sold first, and the items remaining in stock at the end of the year are purchased or produced recently. The we
38、ighted average cost method refers to the method of determining the cost of each inventory item according to the weighted average of the cost of the inventory at the beginning of the period and the cost of the similar inventory purchased or produced in this period. The average can be calculated on a
39、regular basis, and can be calculated every time the new goods are received, depending on the specific circumstances of the entity.Measurement of inventories net realisable value25. if the inventory is damaged, all or part of obsolete, or the selling price falls, then the cost may not be recovered. I
40、f the estimated completion cost of inventory or the estimated cost of sales increase, the cost may not be returned. The method of reducing the cost of inventories to their net realizable value is in line with the view that assets should not be recorded in excess of the expected amount of sales or us
41、e of them.26. the reduction of inventories to net realisable value is usually itemized. However, in some cases, the incorporation of similar or related items may be appropriate. For example, with similar purposes and in the same area of production and sales of products related to its, and in fact th
42、e product series and other projects to differentiate the valuation of stock items, you may need to merge. It is not appropriate to reduce the value of inventories according to the categories of inventories, such as inventories of finished goods or inventories in specific industries or regions. The s
43、ervice provider usually charges the cost of each individual price of the service. Therefore, each of these services should be treated as a separate project.27. the net realisable value is expected to be based on the most reliable evidence of the expected amount of variable cash in stock. These proje
44、ctions should take into account the price and cost fluctuations directly related to the subsequent events, but are limited to the period after which the final status can be determined.28. the estimation of net realisable value should also consider the purpose of holding stock. For example, in order
45、to meet the inventory of the companys sales or service contract, the net realizable value should be calculated on the basis of the contract price. If the amount of inventory held is greater than the quantity of the sales contract order, the net realizable value of the excess inventory should be calc
46、ulated on the basis of the general selling price. Provision or contingent liabilities may arise from the quantity of the required inventory in the stable sales contract, or from the stable purchase contract. These prepared or contingent liabilities are regulated by international accounting standards
47、 thirty-seventh - prepared, contingent liabilities and contingent assets.29. the materials and other materials held for the production of inventories are expected to be sold at the cost or higher than the cost if the finished product is used,It should not be reduced to below the cost. However, if th
48、e decrease in the material price indicates that the cost of the finished product exceeds the net realizable value, the material should be reduced to net realizable value. In this case, the material replacement cost may be the most appropriate measurement basis for its net realizable value.30. re val
49、uation of net realisable value in each subsequent period. If the condition that the inventory is reduced to less than the cost has ceased to exist, the amount of the write down should be restored, and the new amount should be the lower of the cost and the revised net realisable value. For example, due to the decrease in selling price, inventory items with