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ACCOUNTS
II. Functioning of accounts
Class 7. Revenues

71. Changes in inventory of finished goods
and work in progress

 

Sub-accounts 7133 " Changes in work in progress of goods ", 7134 " Changes in work in progress of services " and 7135 " Changes in inventory of goods " of account 713 " Changes in inventory (work in progress, goods) " represent the difference between the inventory value of finished goods and work in progress at the end of the financial year and the inventory value of finished goods and work in progress at the end of the previous financial year, excluding impairment losses.

These accounts for changes in inventory are debited with the beginning inventory value of finished goods and work in progress and credited with their ending inventory value. Consequently, the balance of account 71 " Changes in inventory of finished goods and work in progress " represents the overall change in the inventory value of finished goods and work in progress between the beginning and the end of the financial year. The account 71 can have a debit or credit balance.

 

 
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