[ADD] inventory valuation
This commit is contained in:
Xavier Morel
parent
a7aba04e33
commit
051d680fdd
@ -78,6 +78,13 @@ label:hover,
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font-style: normal;
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}
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.values-table tr > * {
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text-align: right;
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}
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.values-table tr > :first-child {
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text-align: left;
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}
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/* 3-column (thing, debit, credit) tables */
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/* 2nd and 3rd th & td of each row right-aligned and 1/4th width */
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.d-c-table tr > :nth-child(2),
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@ -104,7 +111,8 @@ label:hover,
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color: #aaa !important;
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}
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.chart-of-accounts .highlight-op {
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.chart-of-accounts .highlight-op,
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.valuation-chart .highlight-op {
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background-color: #030035;
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}
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}
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270
_static/coa-valuation.js
Normal file
270
_static/coa-valuation.js
Normal file
@ -0,0 +1,270 @@
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(function () {
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'use strict';
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var data = createAtom();
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function toKey(s, postfix) {
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if (postfix) {
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s += ' ' + postfix;
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}
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return s.replace(/[^0-9a-z ]/gi, '').toLowerCase().split(/\s+/).join('-');
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}
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var Controls = React.createClass({
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render: function () {
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var state = this.props.p;
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return React.DOM.div(null, operations.map(function (op) {
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var label = op.get('label'), operations = op.get('operations');
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return React.DOM.label(
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{
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key: toKey(label),
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style: {display: 'block'},
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className: (operations === state.get('active') ? 'highlight-op' : void 0)
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},
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React.DOM.input({
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type: 'checkbox',
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checked: state.get('operations').contains(operations),
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onChange: function (e) {
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if (e.target.checked) {
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data.swap(function (d) {
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return d.set('active', operations)
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.update('operations', function (ops) {
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return ops.add(operations)
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});
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});
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} else {
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data.swap(function (d) {
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return d.set('active', null) // keep visible in state map
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.update('operations', function (ops) {
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return ops.remove(operations);
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})
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});
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}
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}
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}),
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" ",
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label
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);
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}));
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}
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});
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var Chart = React.createClass({
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render: function () {
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var lastop = Immutable.Map(
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(this.props.p.get('active') || Immutable.List()).map(function (op) {
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return [op.get('account'), op.has('credit') ? 'credit' : 'debit'];
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})
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);
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return React.DOM.div(
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null,
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React.DOM.table(
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{className: 'table table-condensed'},
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React.DOM.thead(
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null,
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React.DOM.tr(
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null,
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React.DOM.th(),
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React.DOM.th({className: 'text-right'}, "Debit"),
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React.DOM.th({className: 'text-right'}, "Credit"),
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React.DOM.th({className: 'text-right'}, "Balance"))
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),
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React.DOM.tbody(
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null,
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this.accounts().map(function (data) {
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var highlight = lastop.get(data.get('code'));
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return React.DOM.tr(
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{key: data.get('code')},
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React.DOM.th(null,
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data.get('level') ? '\u2001 ' : '',
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data.get('code'), ' ', data.get('label')),
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React.DOM.td({className: React.addons.classSet({
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'text-right': true,
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'highlight-op': highlight === 'debit'
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})}, format(data.get('debit'))),
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React.DOM.td({className: React.addons.classSet({
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'text-right': true,
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'highlight-op': highlight === 'credit'
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})}, format(data.get('credit'))),
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React.DOM.td(
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{className: 'text-right'},
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((data.get('debit') || data.get('credit'))
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? format(data.get('debit') - data.get('credit'), 0)
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: '')
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)
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);
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})
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)
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)
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);
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},
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accounts: function() {
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var data = this.props.p.get('operations');
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var totals = data.toIndexedSeq().flatten(true).reduce(function (acc, op) {
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return acc
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.updateIn([op.get('account'), 'debit'], function (d) {
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return (d || 0) + op.get('debit', zero)(data);
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})
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.updateIn([op.get('account'), 'credit'], function (c) {
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return (c || 0) + op.get('credit', zero)(data);
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});
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}, Immutable.Map());
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return accounts.map(function (account) {
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// for each account, add sum
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return account.merge(
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account.get('accounts').map(function (code) {
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return totals.get(code, NULL);
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}).reduce(function (acc, it) {
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return acc.mergeWith(function (a, b) { return a + b; }, it, NULL);
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})
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);
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});
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}
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});
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data.addWatch('chart', function (k, m, prev, next) {
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React.render(
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React.createElement(Controls, {p: next}),
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document.getElementById('chart-controls'));
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React.render(
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React.createElement(Chart, {p: next}),
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document.querySelector('.valuation-chart'));
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});
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document.addEventListener('DOMContentLoaded', function () {
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var chart = document.querySelector('.valuation-chart');
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if (!chart) { return; }
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var controls = document.createElement('div');
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controls.setAttribute('id', 'chart-controls');
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chart.parentNode.insertBefore(controls, chart);
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data.reset(Immutable.Map({
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// last-selected operation
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active: null,
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// set of all currently enabled operations
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operations: Immutable.OrderedSet()
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}));
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});
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var NULL = Immutable.Map({debit: 0, credit: 0});
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var ASSETS = {
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code: 1,
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label: "Assets",
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BANK: { code: 11000, label: "Cash" },
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ACCOUNTS_RECEIVABLE: { code: 13100, label: "Accounts Receivable" },
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STOCK: { code: 14000, label: "Inventory" },
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RAW_MATERIALS: { code: 14100, label: "Raw Materials Inventory" },
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STOCK_OUT: { code: 14600, label: "Goods Issued Not Invoiced" },
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TAXES_PAID: { code: 19000, label: "Deferred Tax Assets" }
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};
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var LIABILITIES = {
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code: 2,
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label: "Liabilities",
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ACCOUNTS_PAYABLE: { code: 21000, label: "Accounts Payable" },
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STOCK_IN: { code: 23000, label: "Goods Received Not Purchased" },
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TAXES_PAYABLE: { code: 26200, label: "Deferred Tax Liabilities" }
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};
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var EQUITY = {
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code: 3,
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label: "Equity",
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CAPITAL: { code: 31000, label: "Common Stock" }
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};
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var REVENUE = {
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code: 4,
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label: "Revenue",
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SALES: { code: 41000, label: "Goods" },
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};
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var EXPENSES = {
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code: 5,
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label: "Expenses",
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GOODS_SOLD: { code: 51100, label: "Cost of Goods Sold" },
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MANUFACTURING_OVERHEAD: { code: 52000, label: "Manufacturing Overhead" },
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PRICE_DIFFERENCE: { code: 53000, label: "Price Difference" }
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};
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var categories = Immutable.fromJS([ASSETS, LIABILITIES, EQUITY, REVENUE, EXPENSES], function (k, v) {
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return Immutable.Iterable.isIndexed(v)
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? v.toList()
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: v.toOrderedMap();
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});
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var accounts = categories.toSeq().flatMap(function (cat) {
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return Immutable.Seq.of(cat.set('level', 0)).concat(cat.filter(function (v, k) {
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return k.toUpperCase() === k;
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}).toIndexedSeq().map(function (acc) { return acc.set('level', 1) }));
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}).map(function (account) { // add accounts: Seq<AccountCode> to each account
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return account.set(
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'accounts',
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Immutable.Seq.of(account.get('code')).concat(
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account.toIndexedSeq().map(function (val) {
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return Immutable.Map.isMap(val) && val.get('code');
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}).filter(function (val) { return !!val; })
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)
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);
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});
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var sale = 100,
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cor = 50,
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cor_tax = cor * 0.09,
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tax = sale * 0.09,
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total = sale + tax,
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purchase = 52,
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purchase_tax = 52 * 0.09;
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var operations = Immutable.fromJS([{
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label: "Supplier Invoice (PO $50, Invoice $40)",
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operations: [
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{account: LIABILITIES.STOCK_IN.code, debit: constant(50)},
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{account: ASSETS.TAXES_PAID.code, debit: constant(50 * 0.09)},
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{account: LIABILITIES.ACCOUNTS_PAYABLE.code, credit: constant(50 * 1.09)},
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]
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}, {
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label: "Supplier Goods Reception (PO $50, Invoice $50)",
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operations: [
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{account: LIABILITIES.STOCK_IN.code, credit: constant(50)},
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{account: ASSETS.STOCK.code, debit: constant(50)},
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]
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}, {
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label: "Supplier Invoice (PO $48, Invoice $50)",
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operations: [
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{account: EXPENSES.PRICE_DIFFERENCE.code, debit: constant(2)},
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{account: LIABILITIES.STOCK_IN.code, debit: constant(48)},
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{account: ASSETS.TAXES_PAID.code, debit: constant(50 * 0.09)},
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{account: LIABILITIES.ACCOUNTS_PAYABLE.code, credit: constant(50 * 1.09)},
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]
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}, {
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label: "Supplier Goods Reception (PO $48, Invoice $50)",
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operations: [
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{account: LIABILITIES.STOCK_IN.code, credit: constant(48)},
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{account: ASSETS.STOCK.code, debit: constant(48)},
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]
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}, {
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label: "Customer Invoice",
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operations: [
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{account: ASSETS.ACCOUNTS_RECEIVABLE.code, debit: constant(total)},
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{account: EXPENSES.GOODS_SOLD.code, debit: constant(cor)},
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{account: REVENUE.SALES.code, credit: constant(sale)},
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{account: ASSETS.STOCK_OUT.code, credit: constant(cor)},
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{account: LIABILITIES.TAXES_PAYABLE.code, credit: constant(tax)}
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]
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}, {
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label: "Customer Shipping",
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operations: [
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{account: ASSETS.STOCK_OUT.code, debit: constant(cor)},
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{account: ASSETS.STOCK.code, credit: constant(cor)}
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]
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}, {
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label: "Manufacturing Order",
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operations: [
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{account: ASSETS.STOCK.code, debit: constant(50)},
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{account: EXPENSES.MANUFACTURING_OVERHEAD.code, debit: constant(2)},
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{account: ASSETS.RAW_MATERIALS.code, debit: constant(52)}
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]
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}]);
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function constant(val) {return function () { return val; };}
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var zero = constant(0);
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function format(val, def) {
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if (!val) { return def === undefined ? '' : def; }
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if (val % 1 === 0) { return val; }
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return val.toFixed(2);
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}
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})();
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1
conf.py
1
conf.py
@ -277,6 +277,7 @@ def setup(app):
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app.add_javascript('misc.js')
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app.add_javascript('inventory.js');
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app.add_javascript('coa-valuation.js')
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app.connect('html-page-context', analytics)
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app.add_config_value('google_analytics_key', '', 'env')
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269
valuation.rst
269
valuation.rst
@ -3,3 +3,272 @@
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====================
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Inventory Valuations
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====================
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Costing Method
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==============
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International accounting standards define several ways to compute product
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costs:
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.. rst-class:: alternatives force-right
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Standard Price
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.. rst-class:: values-table
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.. list-table::
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:widths: 28 18 18 18 18
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:header-rows: 1
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:stub-columns: 1
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* - Operation
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- Unit Cost
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- Qty On Hand
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- Delta Value
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- Inventory Value
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* - Receive 8 Products at $10
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- $10
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- 10
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- +8*$10
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- $80
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* - Receive 4 Products at $12
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- $10
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- 12
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- +4*$10
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- $120
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* - Deliver 10 Products
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- $10
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- 2
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- | -10*$10
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|
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- $20
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* - Receive 2 Products at $9
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- $10
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- 4
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- +2*$10
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- $40
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Average Price
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.. rst-class:: values-table
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.. list-table::
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:widths: 28 18 18 18 18
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:header-rows: 1
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:stub-columns: 1
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* - Operation
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- Unit Cost
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- Qty On Hand
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- Delta Value
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- Inventory Value
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* - Receive 8 Products at $10
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- $10
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- 8
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- +8*$10
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- $80
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* - Receive 4 Products at $16
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- $12
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- 12
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- +4*$16
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- $144
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* - Deliver 10 Products [#average-removal]_
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- $12
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- 2
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- | -10*$12
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|
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- $24
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* - Receive 2 Products at $6
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- $9
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- 4
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- +2*$6
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- $36
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FIFO
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.. rst-class:: values-table
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.. list-table::
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:widths: 28 18 18 18 18
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:header-rows: 1
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:stub-columns: 1
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* - Operation
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- Unit Cost
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- Qty On Hand
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- Delta Value
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- Inventory Value
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* - Receive 8 Products at $10
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- $10
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- 8
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- +8*$10
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- $80
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* - Receive 4 Products at $16
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- $12
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- 12
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- +4*$16
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- $144
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* - Deliver 10 Products
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- $16
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- 2
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- | -8*$10
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| -2*$16
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- $32
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* - Receive 2 Products at $6
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- $11
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- 4
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- +2*$6
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- $44
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LIFO (not accepted in IFRS)
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.. rst-class:: values-table
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.. list-table::
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:widths: 28 18 18 18 18
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:header-rows: 1
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:stub-columns: 1
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* - Operation
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- Unit Cost
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- Qty On Hand
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- Delta Value
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- Inventory Value
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* - Receive 8 Products at $10
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- $10
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- 8
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- +8*$10
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- $80
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* - Receive 4 Products at $16
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- $12
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- 12
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- +4*$16
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- $144
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* - Deliver 10 Products
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- $10
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- 2
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- | -4*$16
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| -6*$10
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- $20
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* - Receive 2 Products at $6
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- $8
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- 4
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- +2*$6
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- $32
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The costing method is defined on the product form: standard, average or real
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price.
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For "real price", the costing is further refined by the removal strategy (on
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the warehouse location or product category), FIFO by default.
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Periodic Inventory Valuation
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============================
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In a periodic inventory valuation, goods reception and outgoing shipments have
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no direct impact in the accounting. At the end of the month or year, the
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accountant post one journal entry representing the value of the physical
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inventory.
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.. rst-class:: alternatives force-right
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Supplier Invoice
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.. rst-class:: values-table
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============================= ===== ======
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\ Debit Credit
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============================= ===== ======
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Assets: Uninvoiced Inventory 50
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Assets: Deferred Tax Assets 4.68
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Expenses: Price Difference 2
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Liabilities: Accounts Payable 56.68
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============================= ===== ======
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Explanation:
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* A temporary account is used to note goods to receive
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* The purchase order provides prices of goods, the actual invoice may
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include extra costs such as shipping
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* The company still needs to pay the vendor (traded an asset against a
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liability)
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Configuration:
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* Uninvoiced Inventory: defined on the product or the category of related
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product, field: Stock Input Account
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* Deferred Tax Assets: defined on the tax used on the purchase order line
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* Accounts Payable: defined on the supplier related to the bill
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In this scenario, the purchase order was $50 but the company received an
|
||||
invoice for $52 as there were extra shipping costs.
|
||||
Goods Receptions
|
||||
No Journal Entry
|
||||
Customer Invoice
|
||||
.. rst-class:: values-table
|
||||
|
||||
===================================== ===== ======
|
||||
\ Debit Credit
|
||||
===================================== ===== ======
|
||||
Revenue: Goods 100
|
||||
Liabilities: Deferred Tax Liabilities 9
|
||||
Assets: Accounts Receivable 109
|
||||
Assets: Inventory 50
|
||||
Expenses: Cost of Goods Sold 50
|
||||
===================================== ===== ======
|
||||
|
||||
Explanation:
|
||||
* Revenues increase by $100
|
||||
* A tax to pay at the end of the month of $9
|
||||
* The customer owns you $109
|
||||
* The inventory is decreased by $50 (shipping of the goods)
|
||||
* The cost of goods sold decreases the gross profit by $50
|
||||
Configuration:
|
||||
* Revenue: defined on the product, or the product category if not on the
|
||||
product, field Income Account
|
||||
* Deferred Tax Liabilities: defined on the tax used on the invoice line
|
||||
* Accounts Receivable: defined on the customer (property)
|
||||
* Inventory: defined on the category of the related product (property)
|
||||
* Expenses: defined on the product, or the category of product (property)
|
||||
|
||||
The fiscal position used on the invoice may have a rule that replaces the
|
||||
Income Account or the tax defined on the product by another one.
|
||||
Customer Shipping
|
||||
No Journal Entry
|
||||
Manufacturing Orders
|
||||
No Journal Entry
|
||||
|
||||
.. raw:: html
|
||||
|
||||
<hr style="float: none; visibility: hidden; margin: 0;">
|
||||
|
||||
At the end of the month/year, the company do a physical inventory (or just
|
||||
rely on the inventory in Odoo). They multiply the quantity of each product by
|
||||
its cost to know the inventory value of the company.
|
||||
|
||||
.. h:div:: force-right
|
||||
|
||||
Current Values in Accounting:
|
||||
|
||||
.. rst-class:: values-table
|
||||
|
||||
=============== ====== ====== =======
|
||||
Account Debit Credit Balance
|
||||
=============== ====== ====== =======
|
||||
14000 Inventory $5,000 $800 $4,200
|
||||
=============== ====== ====== =======
|
||||
|
||||
Real Inventory Valuation: $4,800
|
||||
|
||||
Journal Entry to create:
|
||||
|
||||
.. rst-class:: values-table
|
||||
|
||||
========================== ==== ====
|
||||
14000 Inventory $600
|
||||
14700 Inventory Variations $600
|
||||
========================== ==== ====
|
||||
|
||||
|
||||
Perpetual Inventory Valuation
|
||||
=============================
|
||||
|
||||
In a perpetual inventory valuation, goods reception and outgoing shipments are
|
||||
directly posted in the accounting. The inventory valuation is always
|
||||
up-to-date.
|
||||
|
||||
.. h:div:: valuation-chart force-right
|
||||
|
||||
.. placeholder
|
||||
|
||||
.. [#average-removal] products leaving the stock have no impact on the average
|
||||
price.
|
||||
|
||||
Loading…
Reference in New Issue
Block a user