Accounting approach for long manufacturing cycle assets intended for sale according to the Order 3055/2009

Abstract

In the context of efforts to the compatibility of existing accounting systems and regulations worldwide, the importance of accounting information and communication language to various beneficiaries is very important. Provision of compliance of accounting regulations with the European Directives in the field is a continuous process that requires adjustment of financial statements to business demands. In this context long-term manufacturing cycle assets intended for sale are included in the class of inventories, but “when there is a change of use of tangible assets, meaning that it is to be improved in the light of sale, upon the date of deciding to change the destination, the accounting registers the transfer of assets from the class of tangible fixed assets to inventories“.