Accounting financial accounting. Features of accounting for materials using accounts 15, 16 (the most important)

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Accounting financial accounting. Features of accounting for materials using accounts 15, 16 (the most important)

Lecture notes, cheat sheets

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49. FEATURES OF ACCOUNTING MATERIALS USING ACCOUNTS 15, 16

Inventories are conveniently taken into account at accounting prices. The average price at the beginning of the reporting period for similar reserves can be used as the accounting price. To account for materials at accounting prices, accounts 15 "Procurement and acquisition of material assets" and 16 "Deviation in the cost of material assets" are additionally used. When using accounts 15 and 16, account 10 "Materials" shows the cost at discount prices.

Example. The company received materials from the supplier in the amount of 23 rubles, VAT - 000 rubles. The cost of delivery of materials is 4140 rubles, including VAT 2950% - 18 rubles. The accounting price of materials is 450 rubles.

Entries on the accounting accounts of these operations using accounts 15 and 16 are given in Table.

Account entries for material accounting using accounts 15, 16

As can be seen from the example, when accounting for materials using accounts 15 "Procurement and acquisition of material assets" and 16 "Deviation in the cost of material assets", the resulting amounts of deviations of the actual cost from the book are accumulated on account 16. On account 10, materials are accounted for at accounting prices. Account 15 has no closing balance.

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