Difference between success accounts and inventory accounts

If you are given the task of preparing an annual balance sheet, you should at least be able to explain the difference between profit accounts and inventory accounts. know how to complete this.

What are success accounts or Inventory accounts

• The difference between the success accounts and the inventory accounts is particularly serious when it comes to closing. This topic is discussed in detail in the second heading.
• Success accounts are accounts that - as the name suggests - depend on the success of the company. This can be, for example, the sales revenue account. As a result, these accounts are always highly volatile and cannot be precisely calculated. Here it is especially important to come to a result based on empirical values. At the end of the year it is of course important to make a profit with these accounts, which you can determine from the profit and loss account.
  instagram viewer
• Inventory accounts have the advantage that they can be largely planned. This means that you have the opportunity to calculate precisely how much raw materials you need, for example. This gives you the opportunity to set an exact value for it.

Difference in booking

• The difference when posting in the profit or loss accounts the inventory accounts is serious. It is particularly important to ensure that these are not booked with the same scheme.


Learn booking records - this is how it works

Booking records can sometimes be quite incomprehensible, but with a little practice ...

• The stock accounts are opened at the beginning of the year in the opening balance account with an opening balance and closed at the end of the year via the so-called closing balance account.
• As mentioned above, the profit and loss accounts are concluded via the profit and loss account. This means that in the so-called profit and loss statement, all costs and / or costs incurred are recorded. Profits recorded and offset against each other by the profit or calculate the loss.