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ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Article from Volume 5, Number 3, Year 2017| ACCOUNTING JUDGMENTS AND RULES ON THE OUTCOME OF THE AUDITED ENTITY'S ACTIVITY DEPENDING ON THE INCORPORATED/ UNINCORPORATED EXPENSES IN THE COST OF PRODUCTS | 
Download | | Author(s): Camelia Catalina Mihalciuc, Aurelian Bacinschi | | DOI: 10.4316/EJAFB.2017.533 | | Abstract: In the Romanian accounting system, the costs incurred for obtaining the products (assimilated
here: semi-finished products, finished products, residual products, agricultural products, products
in progress) are compensated by registering of certain incomes when they are handed over to the
warehouse, and then adjusted registering price differences at the end of the month. Due to this fact
and to the more complex function of the account 711 - "Revenues related to product inventory
costs", the auditing of finished product accounts, of price differences in finished products accounts
and of related revenues (acc. 711), usually present a high degree of risk. Also, the specificity of
these accounts requires a good knowledge of the system used to calculate production costs,
respectively of correctly identifying the categories of expenses which will be included/not included
into the cost of the products. Thus, in the present study, the main objective aims to establish certain
working hypotheses, which identify situations related to the inclusion/non-inclusion of the certain
expenses in the cost of the products, that will influence the result of the activity (taking into account
the present laws) and based on the stated hypotheses to draw the related rules. | | Keywords: Included Expenses, Non-included Expenses, Additional Expenses, Cost Of Products
Inventories | References:
1. Cristea, Horia Dumitru (2003), Contabilitatea ?i Calcula?iile în Conducerea întreprinderii, Ed. CECCAR, Bucure?ti.
2. Hlaciuc, Elena, Mihalciuc, Camelia C?t?lina (2008), Organizarea Contabilit??ii Financiare A Entit??ilor Economice: Abord?ri Teoretice ?i Aplicative Conforme Cu Prevederile OMFP 2374/2007 ?i Standardele Interna?ionale De Contabilitate, Editura Didactic? ?i Pedagogic?, Bucure?ti.
3. ACCA Study Text Paper 1 (1999) “The Accounting Framework”, BPP Publishing Limited;
4. CECCAR (2015), Ghid Practic De Aplicare A Reglement?rilor Contabile Privind Situa?iile Financiare Anuale Individuale ?i Situa?iile Financiare Anuale Consolidate, Aprobate Prin OMFP 1802/2014, Editura CECCAR, Bucure?ti.
5. Ordinul Nr. 1802 Din 29 Decembrie (2014) – Partea A II-a, Pentru Aprobarea Reglement?rilor Contabile Privind Situa?iile Financiare Anuale Individuale ?i Situa?iile Financiare Anuale Consolidate.
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