Wednesday, December 13

Accounting And Steps That Can be Evaluated Heritage Items

Google+ Pinterest LinkedIn Tumblr +

Accounting and steps that can be evaluated heritage items

The accounts do not record any fact or phenomenon that can not be expressed in value. There are four steps that can be evaluated heritage items:

• entry in the heritage assessment (unit);

• Evaluate the inventory;

• evaluating the balance sheet (balance sheet assessment);

• Evaluate the output of the unit.

      On entering the property, assets were assessed and accounted for as follows:

• Raw materials,

consumables, inventory items, goods, packaging and other goods purchased for consideration, at cost;

• Production in progress, semi-finished products, inventory items, packaging and other goods produced by the asset unit, the cost of production;

• animals and birds, the acquisition or production cost, as appropriate.

      On leaving the property, assets were assessed and accounted for by the method “weighted average cost” (CMP), using the “first entry – the first voyage” (FIFO) method or the “last entry – the first voyage” (LIFO) .

      Weighted average unit cost shall be calculated after each entry, or monthly, as the ratio between the total value of initial stock plus the amount existing entries and the initial stock plus the quantities entering.

      According to the method of “the first input – first output (FIFO) property management out of assessing the cost of acquisition (or production) of the first entries (group). As the depletion of the lot, out of property management are valued at acquisition cost (or production) of the next batch, in chronological order.

      According to the method of “the last entry – the first voyage” (LIFO), pregnant out of goods valued at acquisition cost (or production) of the last entry (batch). As the depletion of the lot, out of property management are valued at acquisition cost (or production) of the previous batch, in chronological order.

      Evaluating and accounting for raw materials, products, goods and other items of the kind of stock, and prices may be standard (default) based on average prices of those assets, called record prices, provided the highlight distinct differences the price of the acquisition cost or production cost, as appropriate.

      The price differences thus established, the entry of those goods in property, there are proportionally, both emerged on the value of goods and inventories

Share.

About Author

Leave A Reply