Keywords: new standard; Inventory; Depreciation reserve; accounting
Accounting standards for enterprises. 1- inventory (2006) stipulates that on the balance sheet date, inventory shall be measured according to the lower of cost and net realizable value. When the inventory cost is lower than the net realizable value, the inventory is measured at cost; When the cost of inventory is higher than the net realizable value, the inventory is measured according to the net realizable value, and at the same time, the inventory depreciation reserve is accrued according to the difference between the cost and the net realizable value, which is included in the current profit and loss. Measurement and accounting treatment of inventory depreciation reserve.
1. The situation that it is necessary to make provision for inventory depreciation.
1. When the net realizable value of inventory is lower than the cost, it is necessary to make provision for inventory depreciation:
(1) The market price of inventory owned by enterprises continues to fall, and there is no hope of recovery in the foreseeable future.
(2) The cost of products produced by enterprises using this raw material is greater than the sales price of products.
(3) Due to the upgrading of products, the original raw materials in stock can no longer meet the needs of new product production, and the market price of raw materials is lower than its book cost.
(4) Outdated goods or services provided by enterprises or changes in consumers' preferences have changed the market demand, resulting in a gradual decline in market prices, and other circumstances that can prove that the inventory has been substantially impaired. In actual work, if one of the above circumstances exists in the enterprise inventory, it can be judged that the inventory cost is lower than the net realizable value, and it is necessary to make provision for inventory depreciation.
2. One of the following circumstances exists in the enterprise inventory, indicating that the net realizable value of the inventory is zero:
(1) Moldy and deteriorated inventory.
(2) Inventory that has expired and has no transfer value.
(3) Inventory that is no longer needed in production and has no use value or transfer value.
(4) Other inventories that can prove no use value and transfer value.
II. General principles for determining the net realizable value of inventories
1. General principles for determining net realizable value.
(1) Inventory directly sold: net realizable value of inventory = estimated selling price of inventory on balance sheet date-estimated selling expenses and related taxes.
(2) For the inventory that needs to be processed and then sold, the net realizable value of the inventory = the estimated selling price of the inventory on the balance sheet date-the cost that will occur after completion-the estimated sales expenses and related taxes.
2.？ Estimated selling price of inventory on balance sheet date? The determination method of.
(1) If there is a contract, the contract price shall be the estimated selling price within the contract quantity, and the part exceeding the contract quantity shall be the estimated selling price according to the general market price.
(2) If there is no contract, the estimated selling price shall be based on the general market price.
Three, enterprises should consider the factors to determine the net realizable value of inventory
An enterprise shall determine the net realizable value of inventory on the basis of obtaining conclusive evidence, and consider the purpose of holding inventory, the influence of events after the balance sheet date and other factors.
1. Determining the net realizable value of inventory should be based on obtaining conclusive evidence. Determining the net realizable value of inventory must be based on the conclusive evidence obtained, which says here? Hard evidence? Refers to the objective evidence that has a direct impact on determining the net realizable value and cost of inventory.
(1) conclusive evidence of inventory cost. The purchase cost, processing cost and other costs of inventory and the inventory cost obtained by other means shall be conclusive evidence by obtaining foreign original vouchers and production cost account records.
(2) conclusive evidence of the net realizable value of inventories. The conclusive evidence of the net realizable value of inventory refers to the conclusive evidence that has a direct impact on the determination of the net realizable value of inventory, such as the market selling price of finished products or commodities, the market selling price of the same or similar commodities as finished products or commodities, relevant information provided by suppliers or sellers, and production cost information, etc.
2. To determine the net realizable value of inventories, the purpose of holding inventories shall be considered. Because enterprises hold inventories for different purposes, the calculation methods for determining the net realizable value of inventories are also different. For example, the calculation of net realizable value of inventory for sale is different from that of inventory for continuous processing. When determining the net realizable value of inventories, enterprises should consider the purpose of holding inventories. The purpose of holding inventory can usually be divided into the following categories.
(1) held for sale, such as commodities and finished products, is divided into contracted inventory and non-contracted inventory.
(2) Will be consumed in the process of producing or providing services, such as materials.
3. In order to determine the net realizable value of inventory, the influence of events after the balance sheet date should be considered. The events after the balance sheet date should be able to determine the existence of the inventory on the balance sheet date, that is, when determining the net realizable value of the inventory on the balance sheet date, not only the price and cost fluctuations related to the inventory on the balance sheet date should be considered, but also the related events in the future. In other words, it is not limited to the relevant price and cost fluctuations that occurred before the approval date of the financial report, but also should consider related matters that occurred later.
Four, the method of provision for inventory depreciation
(1) Enterprises should usually make provision for inventory depreciation according to a single inventory item. An enterprise shall compare the cost of each inventory item with its net realizable value item by item, measure the inventory according to the lower one, and make provision for inventory depreciation according to the difference between the cost and net realizable value. (2) For the inventory with large quantity and low unit price, provision for inventory depreciation can be made according to inventory category, that is, the total cost of inventory category is compared with the total net realizable value, and the ending value of inventory is determined according to the lower of each inventory category. (3) Inventory related to product series produced and sold in the same area, with the same or similar final use or purpose, which is difficult to be measured separately from other items, can be withdrawn for inventory depreciation, that is, the economic environment, legal environment and market environment where the inventory is located are the same, and the risks and rewards are the same. In this case, the inventory can be consolidated to withdraw the inventory depreciation reserve.
Verb (abbreviation of verb) Accounting treatment of inventory depreciation reserve
1. Inventory depreciation reserve
Debit: asset impairment reserve-inventory depreciation reserve loan: inventory depreciation reserve
2. Write-off of inventory depreciation reserve. Because the factors influencing the previous write-down of inventory value have disappeared, it is not other factors that cause the realizable value of inventory to be higher than the current cost. In this case, the inventory depreciation reserve can be reversed. When the inventory value of impairment reserve is recovered later, what amount of impairment reserve should be reduced? Inventory depreciation reserve? The balance of the account is reduced to zero.
Debit: Inventory depreciation reserve loan: asset impairment loss-inventory depreciation loss.
3. Write-off of inventory depreciation reserve
Borrow: inventory depreciation reserve loan: inventory
4. Issue the inventory depreciation reserve accrued by inventory carry-forward.
Borrow: Reserve loan for inventory depreciation: main business cost
[Example 1]: The materials issued by Company A are valued by the weighted average method, and the impairment reserve is accrued at the end of the period according to the lower of the cost and the net realizable value, which is carried forward when the cost is carried forward. At the end of 2008, the product cost of Company A was 6,543,800,000 yuan (of which: 60% had a contract, the contract price was 7,000,000 yuan, and the estimated sales tax was 700,000 yuan; The remaining estimated price is 4.2 million, and the related taxes and fees are 600,000). In 2009, all the contract products were sold, and only 65,438+00% of the unsettled parts were sold. At the end of the year, the estimated price of the remaining products is 3 million yuan, and the related taxes and fees are 600,000 yuan. Calculate the inventory depreciation reserve of product A of Company A at the end of 2008 and 2009 respectively.
Analysis: On February 3rd, 2008, the net realizable value of product A with contract was 7-70 = 6.3 million yuan, the net realizable value was 6.3 million yuan > the book cost was 6 million yuan, so it was priced at the book cost. The net realizable value of product A with undetermined contract: 4.2-60 = 3.6 million yuan, and the net realizable value is 3.6 million yuan.
Debit: asset impairment loss of 400,000 yuan; Loan: the inventory depreciation reserve is 400,000 yuan.
The year-end book value of product A is:1000-40 = 9.6 million yuan.
June 5438+February 3, 20091:The unsigned part of a product is: 400? 10% = 400,000 yuan, and the rest: 400-40 = 3.6 million yuan; The remaining net realizable value is: 3-60 = 2.4 million yuan; For the remaining part, the accrued depreciation should be: 360-240 =1.2000 yuan. 10% of the sold inventory to be transferred out is: 40? 10% = 40,000 yuan. Inventory depreciation reserve to be replenished:120-(40-4) = 840,000 yuan.
When 10% of the carry-over cost of the contract part is not determined to be sold:
Debit: the main business cost is 400,000 yuan, and loan: inventory is 400,000 yuan.
At the same time, transfer out the corresponding inventory depreciation reserve:
Borrow: the inventory fell by 40,000 yuan. Loan: the main business is 40,000 yuan.
Supplementary reserve for ending inventory depreciation:
Debit: asset impairment loss of 840,000 yuan; Loan: 840,000 yuan for inventory depreciation reserve.
refer to
[1] Ministry of Finance. Accounting Standards for Enterprises No.65438 +0- Inventory (2006). (Caishui [2006] No.3)
[2] Shanxi accounting personnel continuing education textbook writing group. Shanxi Province 20 10 Continuing Education Reader for Accountants. Shanxi Economic Publishing House, Shanxi Publishing Group, 20 10.