Summary from 05.09. - 26.09. 2007 tasks and areas of industrial accounting
identify important tasks of the accounting
- determination of the level of assets and liabilities
- record of all changes
- recognizing income
- costing
- internal control
- Tax and evidence
Introduction to industry accounting
Call business transactions with the related documents
- purchase of particleboard Invoice
- consumption of particleboard in production = material removal note
- sale of finished products = Invoice
What does the accounting for the other branches of the RW?
- provides the figures for the cost and performance accounting for Monitoring the efficiency
- provides figures for statistics and comparative analysis
- allows budgeting, forecast statement
- gives overview of the assets, liabilities - and financial performance
What is the purpose of the generally accepted accounting principles (GAAP)?
- protect business owners and creditors of the company against false information and losses
According to what laws the contractor to keep records and to make regular financial statements committed to?
- § 240 HGB
- § § 140.141 AO (Tax Code)
Distinguish between physical inventory and inventory
- Inventory: quantity - and value of inventory all elements of capital and liabilities of a company at a particular time.
- time after nventar: detailed Inventory that identifies all elements of capital and liabilities of a company at a specific type, quantity and value. (Consists of: assets + debt + equity)
Distinguish AV and UV
- AV: capital which the company will serve the long term, based on the actual operations (land, buildings, Technical equipment, machinery, vehicles, tools, office equipment)
- UV: capital items, which remain only briefly in the U to be implemented continuously (Raw materials, consumables + + Work in progress, finished goods + trade and monetary funds) => always changing
What is physical inventory?
- quantity - and value-based inventory of physical assets by counting, weighing, measuring, and if necessary by estimation with subsequent evaluation in DM
Which stocks only because of documents or records (book inventory ) be determined?
- an inventory does not extend to intangible property, receivables, bank balances, debts, worth in the accounts because of accounting records and supporting documents
How long inventories and records are kept?
- Inventory: 10 years, is also for accounting programs, accounts, books, opening balances, financial statements
- records: 6 years
List the disadvantages of periodic inventory
- leads to great amount of work within a few days
- often associated with business interruption
advantages of the continuous inventory
- rational, informative, delivered daily with important data on stock levels, physical inventory can be performed at any time.
difference before - nachverlegte and inventory
- brought forward inventory: available within three months of completion date, determined inventory is updated only by value on the balance sheet date => value at Inventurtag + Additions - Disposals
- nachverlegte Inventory: up to 2 months after the reporting period, inventory is recalculated => value at Inventurtag - Additions + outlets
recognizing income through capital compared
- EK comparison is EK-increase or EK-reduction
- profit: EC at the end of the fiscal year> start; calculation: the end - beginning of year
- loss: EC on end of the fiscal year <>
- Note: Profit is the difference between the EK at the end of the fiscal year and the EC at the end of the previous year, increased by value of the private withdrawals, less the value of the private deposits
How does a private collection of winning the U from?
- was geg: EK at 31.12.01: 450, at 31.12.02: 480; In fiscal removal of 72 for personal use; total: profit for 12/31/2002
- solution: Profit = 480-450 = 30, but removal is the capital multiplication (Even negative) added to a shortened so profit = 30 + 72 = 102
Important characteristics of a balance
- juxtaposition of wealth and capital in account form
- is asset based
- § 242 HGB: clearly structured, AV, UV, EC and liabilities are shown separately (§ § 247, 266 HGB)
- financial statements (balance sheet + income statement) must be signed by the contractor
- Liabilities: Sources of funds or financing
- assets: funds or investment
comparison inventory - balance
| inventory | balance |
| manageable detailed description of each asset and debt values | Abbreviated representation of the assets and the capital |
| Summary of quantities, individual values and total values | indicating only the total value |
| presentation of assets and capital among themselves in season form | presentation of assets and the capital side by side account form |
Book on existing accounts
- active exchange, such as purchase of equipment bar => Equipment +, cashier -
- passive exchange, eg Liefererschuld is converted into loans => verb - Loan +
- ALM multiplication: Purchase of raw materials on target => Resources + verb +
- asset / liability reduction: Payment a vendor invoice bar => Checkout -, Conn. -
- Note: For equilibrium of the balance sheet remains constant, only numerical content is
resolution of the balance in stock accounts
active accounts:
| set | have |
| initial stock | - Reductions |
| + increases of | closing valuations |
liability accounts:
| set | have |
| - Reductions | initial stock |
| closing valuations | + increases of |
- rule: More revisions to the side of AB, because their stocks zoom
- reductions on the opposite side
On which side of the account receivables a. LL or mortgage debt additions or withdrawals are posted?
- claims is asset account, So additions in the set, leaving in having
- mortgage debt is liability account with AB have, so additions to having outlets in the set
completion of the inventory accounts
- calculate for each credit account the SB book on closing balance sheet account
opening and closing balance sheet account
- FBC collects the assets in the liabilities in the set; mirror image of the closing balance sheet of the previous year
- finally of the fiscal year completed the closing stocks on the asset and liability accounts on the SBK, where: SBK on activated account, liability account to SBK
- closing balance sheet is compiled on the basis of the inventory
- SBK = closing balance sheet
- Final Balance = Opening Balance the following fiscal year
principle of the balance sheet identity
- = opening balance closing balance sheet of the following year, substantive equality
Klaus Osterloh
