Low-value consumables includes low-value goods and consumable goods.
Low-value goods is the value of fixed assets is not enough to the standard but the use of the period of time may be relatively long, to give the simplest example, such as our accountant with the binding machine, the price is not high but the use of time is quite long; consumables is the consumption of faster but the value of the value of may be larger, such as large motor belts, generally a may only be used 3-4 months, but the value of the value of may be on the tens of thousands of yuan.
Low-value consumables can be amortized once or over time. Amortization is charged to "manufacturing overhead" and other accounts.
Introduction
Low-value consumables refer to labor materials with a unit value of more than 10 yuan or less than 2,000 yuan, or with a service life of less than one year, which cannot be regarded as fixed assets. It is similar to fixed assets, in the production process can be used many times without changing its physical form, in the use of maintenance is also required, scrapping may also have a residual value. Because of its low value and short useful life, it is an easy way to amortize its value into the cost of the product.
In the new accounting system of 2006, packaging and low-value consumables, combined into packaging and low-value consumables, under the account number: 1412.
In the accounting system of 2014, low-value consumables and packaging, grouped under the accounting account of working capital materials.