Accounting financial accounting. Expense Accounting Accounts (Most Important)

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Accounting financial accounting. Expense Accounting Accounts (Most Important)

Lecture notes, cheat sheets

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64. EXPENDITURE ACCOUNTS

For accounting of expenses associated with the production and sale of goods, products (works, services), management activities, the following accounts are used.

Account 20 "Main production". The debit of this account reflects primarily direct expenses related directly to the production of products (works, services), while the credit reflects the amount of the actual cost of completed products, works and services performed.

Account 21 "Semi-finished products of own production". The debit of the account records the costs of producing semi-finished products, and the credit records the cost of semi-finished products transferred for further processing.

Account 23 "Auxiliary production". The debit of account 23 reflects primarily direct expenses related directly to the production of products, performance of work and provision of services to auxiliary production, but indirect expenses for the management and maintenance of auxiliary production, and losses from defects can also be taken into account. Under the credit of account 23, the amounts of the actual cost of products, works, and services of auxiliary production are recorded.

Account 25 "General production costs" used to summarize information about the costs of servicing the organization’s main and auxiliary production facilities.

Account 26 "General business expenses" allows you to generate information about costs not directly related to the production process. These are administrative and management expenses, for the maintenance of general business personnel, depreciation charges, etc.

Account 28 "Marriage in production" is intended to summarize information about losses from defects in production. The debit of the account collects costs for identified internal and external defects, and the credit collects amounts attributable to reducing losses from defects.

Account 29 "Servicing industries and farms". The debit of the account reflects direct expenses resulting from the production of products, performance of work and provision of services. For a loan - the amount of the actual cost of completed products, work performed and services provided.

Account 96 "Reserves for future expenses" is intended to reflect amounts reserved for the purpose of including expenses evenly within production and sales costs.

Account 97 "Deferred expenses" is intended to record information about expenses incurred in a given reporting period, but relating to future periods.

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