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30 Chuẩn mực Kế toán - Cách thực hiện khi kiểm toán BCTC (English Version) - Tài liệu EY
Standard No. 2
INVENTORIES
GENERAL PROVISIONS
01. This standard aims to prescribe and guide the principles and method of accounting the inventories, including: determination of the value of inventories and accounting it as expense; the marking-down of inventories to suit the net realizable value and the method of calculating the value of inventories to serve as basis for recording accounting books and making financial statements.
02. This standard shall apply to accounting inventories on the original price principle, except when other prescribed accounting standards permit the application of other accounting methods to inventories.
03. For the purposes of this standard, the terms used herein are understood as follows:
Inventories: are assets which are:
a/ held for sale in the normal production and business period;
b/ in the on-going process of production and business;
c/ raw materials, materials, tools and instruments for use in the process of production and business or provision of services.
Inventories consist of:
- Goods purchased for sale: goods in stock, purchased goods being transported en route, goods sent for sale, goods sent for processing;
- Finished products in stock and finished products sent for sale;
- Unfinished products: uncompleted products and completed products not yet going through the procedures for being put into stores of finished products;
- Raw materials, materials, tools and instruments in stock, sent for processing, and already purchased but being transported en route;
- Costs of unfinished services.
Net realizable value means the estimated selling price of inventories in a normal production and business period minus (-) the estimated cost for completing the products and the estimated cost needed for their consumption.
Current price means a sum of money payable for the purchase of a similar kind of inventory on the date the accounting balance sheet is made.
CONTENTS OF THE STANDARD
DETERMINATION OF THE VALUE OF INVENTORIES
04. Inventories are valued according to their original prices. Where the net realizable value is lower than the original price, they must be valued according to the net realizable value.
Original prices of inventories
05 The original price of inventories consists of the purchasing cost, processing cost and other directly related costs incurred for having the inventories stored in the present place and conditions.
Purchasing cost
06. The purchasing cost of inventories consists of the buying price, non-refundable taxes, transportation cost, loading and unloading cost, preservation cost incurred in the buying process and other costs directly