Hi guys 👋 in this blog let's see about JOINT AND BY - PRODUCTS. Two or more products of equal importance from the same process or known as joint product two or more product separated in the course of the same processing operation usually required in further processing each product been in such proportion that no signal product can be designated as a major product basic characteristics or all the products or equal importance in term of sale value or profit products or treated as main product until the split of point all the joint products or not distinctuable Industries will come under joint product petroleum cold gas oil refining gasoline fuel oil lubricants cold tar and kerosene Coke tar benzole sulphate of ammonia Petrol diesel LPG kerosene etc or known as joint products co products two or more products which are contemporary but do not emerge in necessarily from the same material in the same process for example wheat and gram produced into separate form with separate processing of cultivation for the croco product Timber board made from the different trees or co product by products images of processing operation of another product or their produced from the scrap for waste of materials of a process that is why product is a secondary or subsidiary product which result of manufacture of the main product it recovered from material discarded in a main process from the production of some major product where the material value is to be considered at the time of sovereigns from the main sugar soap Aur Main product molasses glycerine or by product accounting treatment of by product when their small total values the sale value of the by product maybe either creditor to the profit and loss account as miscellaneous income or maybe treated as deduction from the total cost when the buy product or of considerable total value it may be regarded as joint product rather than by product when they require further processing net realisable value of the product are there split of point maybe arrived at by subtracting the further processing cost from the realising value of it if such as small it may be treated as credited to PNR account if such is not considered it should be treated as joint product. Hope my blog was very useful to gaining knowledge please do support by liking and sharing with your friends.. pls do follow...

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