What Does a Production Accountant Do?

Industrial accounting is a professional accountant in the industrial sector. Guided by the principles of accounting, and adopting monetary measures, it continuously, systematically, comprehensively and comprehensively reflects and controls the management activities of industrial enterprises' production and operation activities and their results. The important content of industrial enterprise economic management and the important way to provide industrial economic information. The main content of its reflection and control: fixed assets, materials, production costs, product costs, work in progress, self-made semi-finished products, finished products, monetary funds, sales revenue, financial results and various special funds, accounting statements Preparation and so on. [1]

Industrial accounting

Accounting of industrial enterprises
In order to carry out production and operation activities, raising required funds from various channels is an important business activity of the enterprise; therefore, the accounting of financing operations is an important content of industrial accounting. The funds raised will be invested in a certain purpose (ie investment) to create the necessary conditions for production and operation; therefore, the accounting of investment operations is also an important content of industrial enterprise accounting. The fund-raising and investment activities of an enterprise are for the production and sales of products; therefore, the accounting of production and business operations should be the central content of the accounting of industrial enterprises. The business activities of industrial enterprises include the three processes of supply, production and sales. in
Accounting process: Collecting documents ---> Organizing documents ---> Filling in vouchers --->
Accounting
Macro-accounting
Accounting statements
Nature of accounting
Accounting equation
1. Purchase of raw materials
Borrow: Raw materials
Tax payable-VAT payable-input tax
Loan: bank deposit
(Accounts payable, notes)
2. Materials for production
Borrow: production costs
Manufacturing costs
Management costs
Loan: Raw materials
3. Distribution of wages
Borrow: production costs
Manufacturing costs
Management costs
Loan: payable to employees-wages
4. Accrual of welfare fees
Borrow: production costs
Manufacturing costs
Management costs
Loan: payable to employees-benefits
5. Pay
Borrow: payable to employees-wages
Loan: bank deposit (cash on hand)
6. Usual workshop costs
Borrow: manufacturing costs
Loan: cash on hand
7, carryover at the end of the month
Borrow: production costs
Loan: manufacturing expenses
8. Carry-over of finished products
Borrow: Stock items
Credit: production costs
9. Sale of goods
Borrowing: bank deposits (accounts receivable, notes receivable)
Loan: main business income
Tax payable-VAT payable-output tax
10.Cost of goods carried forward
Borrow: cost of main business
Loan: Stock Merchandise
11.Accounting taxes
Borrow: Business taxes and surcharges
Loan: Taxes Payable-Urban Construction Tax
Education surcharge
-Local education surcharge
12. Carry-over of plant expenses
Borrow: profit for the year
Loan: administrative expenses
13. Interest on borrowings
expenditure
Borrow: financial expenses
Loan: bank deposit (cash on hand)
income
Borrow: bank deposit (cash on hand)
Loan: financial expenses
14. Carry-over of various incomes
Borrow: main business income
Other operating income
Investment income
Non-operating income
Loan: Profit for the year
15. Carry-over costs
Borrow: profit for the year
Loan: Cost of Main Business
other business expenses
The main business tax and surcharges
Management costs
Operating expenses
Financial expenses
Operating expenses
16. Calculation and payment of income tax
Borrow: income tax expenses
Loan: Taxes payable-income tax payable
17. Carry forward income tax
Borrow: profit for the year
Loan: income tax expense
18. Carry forward net profit
Profit
Borrow: profit for the year
Loan: Profit Distribution
Loss
Borrow: profit distribution
Loan: Profit for the year
Note: Commercial enterprises only use 1, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18 items, of which 18 items are done at the end of the year, usually only 1--17 items.

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