Accounting financial accounting. Accounting for materials on off-balance sheet accounts (the most important)

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Accounting financial accounting. Accounting for materials on off-balance sheet accounts (the most important)

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52. ACCOUNTING FOR MATERIALS ON OFF-BALANCE ACCOUNTS

Material values that do not belong to the organization are accounted for on off-balance accounts. To summarize information on the presence and movement of inventory items (inventory and materials) accepted for safekeeping, use the account 002 "Inventory assets accepted for safekeeping". Buying organizations record inventory items on account 002 in the following cases:

▪ receiving goods and materials from suppliers for which the organization legally refused to accept invoices of payment requests and pay them;

▪ receiving from suppliers unpaid inventory items that are prohibited from being spent under the terms of the contract until they are paid;

▪ acceptance of inventory items for safekeeping for other reasons.

Supplier organizations account on account 002 for goods and materials paid by buyers, which are left in safe custody, issued with safe receipts, but not exported for reasons beyond the control of organizations. Inventory and materials are accounted for on account 002 at the prices provided for in acceptance certificates or in invoices for payment requests. Analytical accounting on account 002 is carried out by organization-owners, by types and grades of materials, places of their storage.

Account 003 "Materials accepted for processing" is intended to summarize information on the availability and movement of raw materials and materials of the customer accepted for processing (tolling raw materials) that are not paid by the manufacturer. Accounting for the costs of processing or refining raw materials and materials is carried out on the accounts of accounting for production costs, reflecting the costs associated with this (with the exception of the cost of raw materials and materials of the customer). The customer's raw materials and materials accepted for processing are recorded on account 003 at the prices stipulated in the contracts. Analytical accounting on account 003 is conducted by customers, types, grades of raw materials and materials and their locations.

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