Accounting approach for long manufacturing cycle assets intended for sale according to the Order 3055/2009

• Main Author: Busuioceanu, S.
• Format: Article
• Language: English
• Published: Transilvania University Press 2010-12-01
• Series: Bulletin of the Transilvania University of Brasov. Series V : Economic Sciences
• Subjects: long term manufacturing cycle; tangible assets; inventories; transfer; rent; revaluation; sale contracts
• Online Access: http://but.unitbv.ro/BU2010/Series%20V/BULETIN%20V%20PDF/247%20Busuioceanu.pdf

In the context of efforts of compatibility of existing accounting systems and regulations worldwide, the importance of accounting information and communication language to various beneficiaries is very important. Provision of compliance of accounting regulations with the European Directives in the field is a continuous process that requires adjustment of financial statements to business demands. In this context long term manufacturing cycle assets intended for sale are included in the class of inventories, but “when there is a change of use of tangible assets, meaning that it is to be improved in the light of sale, upon the date of making the decision to change the destination, the accounting registers the transfer of assets from the class of tangible fixed assets to inventories“.