Accounting policy and its impact on the cost of finished products

Abstract

We studied the situation of the enterprise's accounting policies, which affect the cost of the finished product. It was determined that the main influence on the cost of the finished products have a position in accounting policy with respect to valuation of assets and liabilities, methods and bases of distribution of indirect costs. It affects cost of finished goods and tax policy, which may be provided for the election of the general or the simplified taxation system. It is emphasized that in the financial statements accounting policies should be disclosed, if their use significantly affect the company's balance sheet indicators (assets, liabilities, financial result). In this connection, in the accounting policy, in terms of impact on the cost of the finished product, you must at least be defined with: methods of stock assessment at departure; methods and bases cost sharing service industries; list of variable and fixed general production costs and their distribution base; assessment procedures and the transfer of the cost of work in progress to finished products.