It is a system of determining the Unit Cost of the products manufactured by the company.
Through this system, stock is controlled permanently, allowing determination of Unit Cost of production as the products are manufactured. Since specialist employees and detailed control are needed, it is mainly used by large companies.
The Brazilian tax legislation calls this system the Integrated Cost System, because the account transactions registering the components of Industrial Cost is done together with the other Equity accounts and the results of the company.
Two systems (Permanent Inventory System and Periodic Inventory System) are allowed by the Brazilian legislation and adoption of either one depends on the size, interest or financial capacity of the company, which allows maintenance of the system adopted. |
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