| gen. |
оценка товарно-материальных ценностей (= stock valuation. The valuation of stocks of raw material, work in progress, and finished goods. According to Statement of Standard Accounting Practice 9, stocks should be valued at the lower of cost or net realizable value and the costs incurred up to the stage of production reached. This effectively means that finished goods and work in progress should include both fixed and variable production costs but exclude the selling and distribution costs. In the UK valuing stocks at cost, the first-in-first-out cost, or the average cost may be used, but not the last-in-first-out cost or the next-in-first-out cost Marginal cost may be used as a basis of stock valuation for management accounting purposes but is unacceptable for financial accounting. OB&M Alexander Demidov) |
