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Curs #2 Contabilitatea stocurilor.

Tehnici posibile de contabilitate creativ

1.1. Efectul manipulrii informaiilor privind stocurile asupra situaiilor financiare

Stocuri Stocuri

Profit Profit

Active Active

Manipularea poate viza bunurile incluse n categoria stocurilor sau/i valoarea lor.

1.2. Bunuri incluse n categoria stocurilor Referina


Inventories are assets: (a) held for sale in the ordinary course of business; (b) in the

process of production for such sale; or (c) in the form of materials or supplies to be consumed in the production process or in the rendering of services.
Definition of assets: An asset is a resource controlled by the entity as a result of past

events and from which future economic benefits are expected to flow to the entity. IAS 18, para 14:
Revenue from the sale of goods shall be recognised when all the following conditions

High probability of future economic benefits; Reliable valuation method.

have been satisfied: (a) the entity has transferred to the buyer the significant risks and rewards of ownership of the goods; (b) the entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; (c) the amount of revenue can be measured reliably; (d) it is probable that the economic benefits associated with the transaction will flow to the entity; and (e) the costs incurred or to be incurred in respect of the transaction can be measured reliably. .... See IAS 18

Ex. i). Bunuri achiziionate dar nelivrate/primite nc; ii). Bunuri care fac obiectul unui contract de vnzare dar care nu au fost segregate i livrate cumprtorului; iii). Bunuri date pentru a fi vndute n consignaie; iv). Bunuri deinute pentru a fi vndute pe baz de comision (sale on commission, engl.); v). Bunuri refuzate care urmeaz a fi returnate furnizorului; vi). Bunuri care fac obiectul contractelor de vnzare cu clauza de rscumprare (sale and repurchase arrangements, engl.) vii). Bunuri deinute ca plasamente financiare. a. |Tranzacii circulare Ex. n cursul lunii septembrie N, I&I SA (care are ca obiect de activitate fabricarea de produse alimentare) a achiziionat un stoc de piele n sum de 30.000 lei, care a fost ulterior vndut pentru suma de 50.000 lei. Auditorul a descoperit un stoc de acelai tip n situaiile financiare ale anului N la valoarea de 50.000 lei. Discutai acest aspect cu managerul companiei, din postura auditorului financiar. Vnzri i cumprri de stocuri identice: profit crescut artificial Referina
IAS 18, para 12: When goods or services are exchanged or swapped for goods or

services which are of a similar nature and value, the exchange is not regarded as a transaction which generates revenue. This is often the case with commodities like oil or milk where suppliers exchange or swap inventories in various locations to fulfill demand on a timely basis in a particular location.

b) Transferuri fictive: stocurile finale sunt crescute artificial prin nregistrarea unor transferuri fictive ale unor stocuri inexistente. Ex.: A fost acuzat de ctre SEC c anumii manageri executivi ai companiei Miniscribe Corporation au crescut artificial stocurile comapaniei prin nregistrarea unor transferuri fictive de stocuri inexistente din puncte de lucru situate n Colorado n locaii de peste ocean unde inventarul fizic al stocurilor este mult mai dificil de fcut sau bunurile sunt descrise ca fiind n tranzit. http://www.sec.gov/litigation/admin/34-41729.htm (II D)

b) Includerea unor bunuri depreciate fizic i moral n categoria stocurilor Ex: A fost acuzat de ctre SEC c anumii manageri executivi ai companiei Miniscribe Corporation au crescut artificial stocurile comapaniei prin reambalarea unor stocuri uzate moral i fizic i tratarea lor ca active n loc de a le nregistra pe cheltuieli. http://www.sec.gov/litigation/admin/34-41729.htm (II D)

c) Gestiunea i evidena incorect a stocurilor: dac stocurile sunt gestionate de o manier dezorganizat i indistinct, exist posibilitatea ca auditorul s nu aib expertiza sau s nu doreasc s testeze evalurile efectuate de ctre clieni. Ex: the great salad oil swindle marea escrocherie cu ulei de salat

1.3. Calculul costului stocurilor:


a) Costul de achiziie:

Referina
IAS 2: Costs of purchase: The costs of purchase of inventories comprise the purchase

price, import duties and other taxes (other than those subsequently recoverable by the entity from the taxing authorities), and transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase.

a.1. Cumprarile pe credit Ex: Pe data de 1.01.N, au fost achiziionate 100 uniti de materii prime n sum de 100.000 lei, pltibil n 2 ani n rate egale.

Tehnici posibile de contabilitate creativ: capitalizarea costului capitalizing the cost of finance. Referina
IAS 2 Para 18: An entity may purchase inventories on deferred settlement terms.

When the arrangement effectively contains a financing element, that element, for example a difference between the purchase price for normal credit terms and the amount paid, is recognised as interest expense over the period of the financing.
IAS 18, Appendix, Para 8: Instalment sales, under which the consideration is

receivable in instalments. Revenue attributable to the sales price, exclusive of interest, is recognised at the date of sale. The sale price is the present value of the consideration, determined by discounting the instalments receivable at the imputed rate of interest. The interest element is recognised as revenue as it is earned, using the effective interest method.

Pp. preul de vnzare pentru condiii normale de creditare este de 60.000, iar compania poate lua un credit similar cu 10% dobnd. Soluia corect:
1. Metoda dobnzii efective:

VP(Stoc) =

(1 + i)
t =1

50 .000
t

= 60,000, i=42% Principal rambursat 24,792.02 35,207.97 Suma datorat la sfritul anului 35,207.98 0.014261

Suma datorat la nceputul anului 60,000 35,207.98

Pli 50,000 50,000

Dobnd 25,207.98 14,792.03

Ianuarie 1, N
Materii prime Decembrie 31, 2009 % Furnizori Cheltuieli cu dobnda = Conturi curente 50,000 24,792 35,208 = Furnizori 60,000

2. Condiii similar de creditare:

VP(Stoc) =

(1 + 0.1)
t =1

50 .000

= 86,777 Principal paid 41,322,3 45,454.53 Amount owed at the end of the year 45,454.7 0.17

Amount owed at the beginning of the year 86,777 45,454.7

Payment 50,000 50,000

Interest 8,677.7 4,545.47

1 Ianuarie N
Materii prime 31 Decembrie N % Furnizori Cheltuieli cu dobnda = Conturi curente 50,000 41,322,3 8,677.7 = Furnizori 86,777

a.2. Problema reducerilor financiare Tehnici posibile de contabilitate creativ: capitalizarea reducerilor comerciale

Referine
Costs of purchase The costs of purchase of inventories comprise the purchase price,

import duties and other taxes (other than those subsequently recoverable by the entity from the taxing authorities), and transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase. Ex: n ianuarie N, au fost achiziionate 100 uniti de materii prime pentru suma de 100.000 lei, rabat 10% pentru defecte de fabricaie, scont de 2% (2/10, n/30), TVA 24%.

a.3. Servicii incluse n costul produselor Tehnici posibile de contabilitate creativ: manipularea costului serviciului Refernie
IAS 18, Apendix, para 12 When the selling price of a product includes an identifiable

amount for subsequent servicing (for example, after sales support and product enhancement on the sale of software), that amount is deferred and recognised as revenue over the period during which the service is performed. The amount deferred

is that which will cover the expected costs of the services under the agreement, together with a reasonable profit on those services. Ex: n ianuarie N, un dealer a vndut un automobil pentru suma de 100,000 lei promind s efectueze 2 service-uri anuale gratuite.

b). Costul de producie b.1. Costuri variabile vs costuri absorbante Tehnici posibile de contabilitate creativ: includerea doar a costurilor variabile n costul de producie IAS 2, para 12: The costs of conversion of inventories include costs directly related to the units of production, such as direct labour. They also include a systematic allocation of fixed and variable production overheads that are incurred in converting materials into finished goods. Fixed production overheads are those indirect costs of production that remain relatively constant regardless of the volume of production, such as depreciation and maintenance of factory buildings and equipment, and the cost of factory management and administration. Variable production overheads are those indirect costs of production that vary directly, or nearly directly, with the volume of production, such as indirect materials and indirect labour. b.2. Alocarea cheltuielilor indirecte Tehnici posibile de contabilitate creativ: amnarea recunoaterii cheltuielilor indirect i creterea artificial a profiturilor Ex. 1: includerea costurilor administrative sau a celor de distribuie n costul de producie. Ex. 2: n cursul ultimului trimestru al anului N, Compania Producer & Seller Inc a iniiat 2 contracte prin care s-a angajat s produc i s livreze 300 uniti de produs A i 700 buci de produs B ctre compania Buyer Inc. Procesul de producie a nceput pe 1 octombrie, produsul A fiind programat pentru livrare integral n decembrie N, n timp ce produsul B urmeaz s fie livrat n februarie N. Managerul companiei are o int foarte ambiioas de profit pentru ultimul trimestru al anului. Compania a nregistrat costuri directe pentru produsul A n valoare de 700 lei, costuri directe pentru produsul B n valoare de 500 lei i costuri commune de 1.100 lei.

b.2. Normal capacity of the production facilities Possible creative accounting scheme: increasing the cost of production as a consequence of low production or idle plant IAS 2, para 13: The allocation of fixed production overheads to the costs of conversion is based on the normal capacity of the production facilities. Normal capacity is the production expected to be achieved on average over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. The actual level of production may be used if it approximates normal capacity. The amount of fixed overhead allocated to each unit of production is not increased as a consequence of low production or idle plant. Unallocated overheads are recognised as an expense in the period in which they are incurred. In periods of abnormally high production, the amount of fixed overhead allocated to each unit of production is decreased so that inventories are not measured above cost. Variable production overheads are allocated to each unit of production on the basis of the actual use of the production facilities. Example: During the year 2009, ABC Inc produces 100 units of product A incurring the following costs: direct costs (all variable cost) 400,000 lei, overheads 600,000 lei (200,000 lei-variable, 400,000 lei fixed). Assume the normal production capacity is: a). 150 unis; b) 100 units; c) 80 units. C). Net realizable value Possible creative accounting scheme: Big bath accounting IAS 2: Para 28: The cost of inventories may not be recoverable if those inventories are damaged, if they have become wholly or partially obsolete, or if their selling prices have

declined. The cost of inventories may also not be recoverable if the estimated costs of completion or the estimated costs to be incurred to make the sale have increased. The practice of writing inventories down below cost to net realisable value is consistent with the view that assets should not be carried in excess of amounts expected to be realised from their sale or use. Example: The following information concerning merchandise Type Y is available as of December 31, 2006: acquisition cost: 100 lei, estimated selling price: 102 lei, and estimated costs necessary to make the sale: 3 lei.

MEASURING FLOWS OF STOCK a) Policies changes FIFO WAC/MAC


Example: ABC Incs balance-sheet at the end of the year 2008 was as follows: ABS Inc Balance Sheet as of December 31, 2008 Fixed assets Current assets Debtors Stock Cash Total assets Amount falling due within one year Amount falling due after more than one year Share capital Total liabilities and owners equity $ 10,000 15,000 3,000 8,000 4,000 25000 5,500 6,500 13,000 25,000

The stock quantities, purchases, and sales of units for the year 1992 are summarized below: No of Cost/price per unit units Opening stock 200 40 First purchase 100 45 First sale 160 75 Second purchase 100 50 Third purchase 100 60 Second sale 200 75 Fourth purchase 100 65 All sales and purchases took place in terms of cash. Discuss the effect of alternative methods of stock costing on the P&L account and on the Balance sheet. Discuss the effects of different methods on the companys working capital, current ratio, acid test ratio, liabilities/equity ratio, equity/total assets ratio, return on equity.

b) Periodic inventory system