How to determine revenue and costs in accounting

There are many types of revenue recognition, including general sales, commercial discounts, cash discounts, consignment sales, sales with return conditions, after-sales buyback, provision of labor services, construction contracts, software development, reward points, etc., and the timing and method of revenue recognition are different.

In general sales, revenue is recognized when the risks and rewards of the ownership of the goods of the enterprise are transferred to the other party, and the amount of revenue recognized is generally recognized according to the agreed price or the invoice amount.

The cost of purchased inventory is mainly composed of the purchase price, relevant taxes, transportation costs, loading and unloading costs, insurance premiums, storage costs, packaging costs, reasonable wear and tear during transportation, and selection and sorting costs before warehousing.

Among them: relevant taxes and fees refer to import duties, consumption taxes, resource taxes, and non-deductible value-added tax.

Example of revenue from sales of goods:

Company A sells a batch of goods to Company B, and the special VAT invoice issued indicates that the selling price is 400,000 yuan, and the VAT tax amount is 68,000 yuan; Company A received a non-interest-bearing bank acceptance draft issued by Company B, with a face value of 468,000 yuan and a term of 2 months; The batch of commodities has been sent, and Company A has advanced 2,000 yuan of transportation and miscellaneous expenses with bank deposits; The cost of this batch of goods is 320,000 yuan. Prepare the relevant accounting entries for the sale of goods by Company A.

Analysis] 1) When the sales revenue is recognized:

Debit: Notes receivable 468000

Accounts receivable 2000

Credit: main business income 400,000

Tax Payable - VAT Payable (Output Tax) 68000 Bank Deposit 2000

2) When carrying forward the cost of sales:

Borrow: Cost of main business 32000

Credit: 320,000 goods in stock

If an enterprise (general VAT taxpayer) damages a batch of previously purchased materials (the materials have deducted the input VAT of the value-added tax) due to poor management, and the book cost of the batch of raw materials is 24,465 yuan (including freight 465 yuan), the VAT input tax that should be transferred out of the batch of materials in the current period is ( ) yuan.

The input VAT that should be transferred out in the current period = (24465 465) 17% 465 (1 7%) 7% = 4080 35 = 4115 (yuan); Since the transportation fee of 465 yuan is calculated according to the 7% deduction rate after deducting the VAT input tax, it is necessary to restore it to the base of calculating the VAT input tax to calculate the VAT input tax transferred out.

Know the cost of revenue recognition: Because it belongs to small-scale taxpayers, the cost is simplified and divided into the cost of goodsOperating costsTwo parts.

Cost of goods = amount of inventory in the previous period + amount of goods purchased in the current period – amount of inventory at the end of the period.

The cost of dismantling the imperial camp = tax amount + all other expenses.

As for the ratio, per accounting period.

It's changing, because the cost of doing business is changing all the time.

Cost of the current accounting period = cost of goods + cost of operation.

Profit for the current accounting period = Actual income - Accounting cost for the current period.

General Definitions. Cost is the economic value of producing and selling a certain type and quantity of products in monetary terms at the cost of resources. Enterprises need to consume the means of production to produce products.

and mu labor, these consumption is measured in money in the cost, which is manifested in material expenses, depreciation expenses, wage expenses, etc.

The business activities of an enterprise include not only production but also sales activities, so the expenses incurred in sales activities should also be included in the costs. At the same time, the expenses incurred to manage production should also be included in the cost. At the same time, the expenses incurred in order to manage production and business activities also have the nature of forming costs.

Summary. The cost division of financial accounting is roughly as follows: (1) According to the concept formation, it can be divided into theoretical cost and application cost.

2) According to the application situation, it can be divided into financial cost and management cost. (3) According to the basis of generation, it can be divided into actual cost and estimated cost. (4) According to the occurrence situation, it can be divided into original cost and replacement cost.

5) According to the formation time, it can be divided into historical cost and future cost. (6) According to the unit of measurement, it can be divided into unit cost and total cost. (7) According to the calculation basis, it can be divided into individual cost and average cost.

8) According to the scope of coverage, it can be divided into full cost and partial cost. Bai (9) can be divided into workshop cost and factory cost according to the order relationship in the production process. (10) According to the scope of production and operation, it can be divided into production cost and sales cost.

11) According to the relationship with revenue, it can be divided into consumed cost and unconsumed cost. (12) According to the relationship with the plan, it can be divided into planned cost and projected cost. (13) According to the relationship between occurrence and product production, it can be divided into direct cost and indirect cost.

14) According to the cost of the liquidity of assets in production and operation, it can be divided into working capital and capital cost.

Hello dear, glad to answer for you. Pro: How does financial accounting divide costs?

The cost division of financial accounting is roughly as follows: (1) According to the concept formation, it can be divided into theoretical cost and application cost. 2) According to the application situation, it can be divided into financial cost and management cost.

(3) According to the basis of generation, it can be divided into actual cost and estimated cost. (4) According to the occurrence situation, it can be divided into original cost and replacement cost. 5) According to the formation time, it can be divided into historical cost and future cost.

6) According to the unit of measurement, it can be divided into unit cost and total cost. (7) According to the calculation basis, it can be divided into individual cost and average cost. 8) According to the scope of coverage, it can be divided into full cost and partial cost.

Bai (9) can be divided into workshop cost and factory cost according to the order relationship in the production process. (10) According to the scope of production, it can be divided into production cost and sales cost. 11) According to the relationship with revenue, it can be divided into consumed cost and unconsumed cost.

(12) According to the relationship with the plan, it can be divided into planned cost and projected cost. (13) According to the relationship between occurrence and product production, it can be divided into direct cost and indirect cost. (14) According to the liquidity of assets in production and operation at cost, the bureau can be divided into working capital and capital cost.

Enterprises often incur revenue business and cost business when operating activities, when the enterprise obtains income or incurs costs, what should the relevant accounting entries do?

Accounting entries for income and shortfalls.

Take, for example, the accounting entries for the cost of revenue of a building information engineering management company:

1. When confirming the cost of the contract:

Borrow: main business cost - project construction - contract gross profit.

Credit: main business income.

2. The monthly progress of the project is used as the basis for confirming the income, and the cost is carried forward

Borrow: Cost of main business.

Construction – Contract gross profit.

Credit: main business income.

3. At the end of the year, according to the project management verified by the company's engineering department, the adjustment of economic income and cost (negative number is used for adjustment and reduction):

Borrow: Cost of main business.

Construction – Contract gross profit.

Credit: main business income.

4. After the completion of the project:

Borrow: Engineering Construction - Contract Gross Profit.

Credit: main business income.

5. Calculate the tax payable for each period:

Borrow: Taxes and surcharges.

Credit: Tax Payable – VAT Payable.

Taxes payable - urban construction tax payable.

Taxes payable - local education surcharge payable.

What is Contract Gross Profit?

Contract gross profit is an economic term, which is the detailed account of engineering construction, and the difference between project settlement and engineering construction - contract cost is contract gross profit. The debit balance of the gross profit of the contract represents the contract cost and gross profit of the unfinished construction project, and the credit balance indicates that the price settled with the owner of the project is greater than the construction of the project or the revenue recognized according to the progress of completion is less than the recognized cost.

1. Completely collect and account for the various expenses incurred by the costing object.

2. Correctly calculate the transfer value of means of production and the amount of expenses that should be included in the cost of the current period.

3. Scientifically determine the object, project, period, cost calculation method and expense allocation method of cost calculation.

4. Understand the composition of the cost and the relationship with its own blind work, and choose the cost calculation method that is conducive to cost control.

5. Effectively control costs through cost analysis, and find the key points of cost control in combination with the company's own situation.

The basic method of recognition and measurement of revenue and cost is generally divided into the following steps: the first step is to identify the contract with the customer;

The second step is to identify the individual performance obligations in the contract;

The third step is to confirm the transaction**;

The fourth step is to allocate the transaction** to each individual performance obligation;

The fifth step is to recognize the revenue and cost segments when fulfilling each individual performance obligation.

Cost accounting is a sub-industry of the accounting industry, so what is the daily work of cost accounting? If you don't understand this part of the knowledge points, then let's learn a grinding car with the deep space network!

What are the points to do well in cost accounting?

1. Collect the bill of materials, the warehousing list, and interface with the warehouse material accountant or custodian warehouse bookkeeper to do a good job of coordination.

2. Determine the most suitable material cost calculation method for your company: first-in, first-out, last-in-first-out, weighted average grinding.

3. Establish a detailed account of materials and determine the product classification.

4. At the end of the month, according to the issued materials, the purchase of materials list, summarize the total, and check with the warehouse material accounting.

5. Determine the unit cost and balance cost according to the calculation method.

6. At the end of the period, make material budgets, cost comparisons, and purchase and sales price differences. Control production costs.

What should companies do when doing cost accounting?

1. Organize various expenses and collect and distribute them.

2. Make accounting vouchers and register them.

3. Calculate the expenses at the end of the month.

4. Count the index assessment results of various expenses and report them to the manager.

What should a company do when doing a cost analysis?

1. Compare according to the cost composition and historical occurrence and plan indicators.

2. Cost analysis report.

What should I do about accounts payable accounting?

1. Receive raw material warehousing lists, sales invoices, accounting, review payment lists and various accounts payable, and audit various records.

2. Review the invoices and documents transferred by various business departments.

3. Registering and bookkeeping.

What is the accounting of domestic sales accounts receivable?

1. Calculate accounts receivable and records of domestic sales customers.

2. Register and keep accounts with invoices.

3. Regularly check the sales details with the sales staff and supervise the remittance.

How are cash and cheques managed?

1. Keep documents (checks, check reimbursement forms, check application forms, receipts, etc.), financial seals and cash.

2. Fill in cash checks, transfer checks and remittance vouchers.

3. Handle remittance, cash withdrawal and check transfer procedures.

4. Go through the procedures for declaration of balance of payments.

5. Inventory and settlement of cash in stock every day.

6. Issue repayment receipts, payment receipts and customer payment receipts.

7. Preliminary review of the legality and authenticity of the cash reimbursement documents, and handle the cash reimbursement procedures.

In his usual work, he often encounters problems related to the cost of income, and the income subjects generally include the main business income, other business income, etc., and the cost subjects include production costs, labor costs, etc. So how to deal with accounting entries for revenue and cost? Let's follow the deep space network to find out!

How to do cost of revenue accounting entries?

Take the accounting entries for the cost of revenue of a construction engineering company as an example:

1. When the project confirms the contract cost, make the following entries:

Borrow: main business cost - engineering construction - contract gross profit.

Credit: main business income.

2. Recognize revenue and carry forward costs based on the progress of the project every month, and the accounting entries are as follows:

Borrow: Cost of main business.

Borrow: Engineering Construction - Contract Gross Profit.

Credit: main business income.

3. At the end of the year, adjust the income and cost according to the project verified by the engineering department (adjust or reduce the negative number), and make the following entries:

Borrow: Cost of main business.

Borrow: Engineering Construction - Contract Gross Profit.

Credit: main business income.

4. After the completion of the project, the accounting treatment involved is as follows:

Borrow: Engineering Construction - Contract Gross Profit.

Borrow: Engineering Construction - Contract Gross Profit.

Credit: main business income.

5. Calculate the taxes and surcharges payable in each period, and the accounting entries are as follows:

Debit: VAT and surcharges.

Credit: Tax Payable – VAT Payable.

Credit: Taxes Payable - Urban Construction Tax Payable.

Credit: Taxes payable - Education fee surcharge payable.

Do I have to recognize revenue at the same time to carry forward costs?

A: It is not necessary to recognize revenue at the same time in order to carry forward costs.

For service income, the principle of proportionality cannot be deducted. Assuming that the accounting can be clearly classified into costs according to service items, the accumulated costs can be carried forward to the cost of sales. If the project cost has been expensed, then there is no cost-to-revenue ratio when recognizing revenue, so there is no need to carry forward costs.

Revenue needs to be recognized and cost accounting entries carried forward at the same time.

1. When selling products, it is necessary to recognize revenue and carry forward costs at the same time.

Sales: Borrow: Bank Deposits, etc.

Credit: main business income (VAT omitted).

At the same time, the cost is carried forward.

Borrow: Cost of main business.

Credit: Inventory of goods.

Accounting treatment of the cost of income loss recognized by the construction industry.

What kind of account is cost?

Answer: The cost belongs to the cost account, and the operating cost refers to the expenses attributable to the cost of producing early jujube products and labor costs incurred by the enterprise for the production of products and services, which are divided into main business costs and other business costs.

For operating costs, the cost of goods sold and services provided should be included in the profit or loss for the current period when recognizing the income from the sale of goods and the income from the provision of services.