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With Regard to the Price Differences Registrated in Finite Products and Agricultural Products

Author

Listed:
  • Florin Ioan Scortescu

    (Associate Professor Ph.D., "Petre Andrei" University of Iasi, Romania)

  • Gheorghe Scortescu

    (Professor Ph.D., "Petre Andrei" University of Iasi, Romania)

Abstract

According to the predetermined or standard price/cost method, stocks of finished products or agricultural products are recorded in the accounts at the predetermined (standard) price, also called the registration price, highlighting separately (distinctly) the price differences (plus or minus) from the actual cost of production of these goods. The standard price used for their accounting should be reviewed regularly and adjusted in the light of price developments. The distribution of price differences on finished products or agricultural products out of management shall be carried out with the support of a coefficient (k). This indicator (k) is multiplied by the price of these goods coming out of the company's management at the predetermined price (usually by sale), and the resulting value is shown in the corresponding accounts where such stocks that have come out of the patrimony have been shown.

Suggested Citation

  • Florin Ioan Scortescu & Gheorghe Scortescu, 2020. "With Regard to the Price Differences Registrated in Finite Products and Agricultural Products," Anuarul Universitatii „Petre Andrei” din Iasi / Year-Book „Petre Andrei” University from Iasi, Fascicula: Drept, Stiinte Economice, Stiinte Politice / Fascicle: Law, Economic Sciences, Political Scien, Editura Lumen, Department of Economics, vol. 26, pages 187-199, December.
    • Handle: RePEc:lum:rev11d:v:26:y:2020:i::p:187-199
    DOI: https://doi.org/10.18662/upalaw/57
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    References listed on IDEAS

    as
    1. Madalina Ecaterina POPESCU & Eva MILITARU & Dan PELE & Miruna MAZURENCU MARINESCU & Valentina VASILE & Simona ILIE & Adina MIHĂILESCU & Adela ȘERBAN, 2017. "Support for Establishing a Minimum Wage-Setting Mechanism in Romania," Books of Marketing and Economy, Editura Lumen, Department of Economics, edition 1, volume 1, number 09, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    differences; price; cost; predetermined; standard; actually;
    All these keywords.

    JEL classification:

    • K1 - Law and Economics - - Basic Areas of Law
    • K2 - Law and Economics - - Regulation and Business Law
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior

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