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.