A1A.282.

Inventories (TALC 21) are goods and services which came into existence in the current period or in an earlier period and that are held for sale, use in production or other use at a later date. Inventories consists of stocks of goods that are still held by the units that produced them prior to their being further processed, sold, delivered to other units or used in other ways; products acquired from other units that are intended to be used in the production of market and non-market goods and services by units, or for resale without further processing; and goods that are held for strategic and emergency purposes, goods held by market regulatory organisations and other goods of special importance to the nation. This category is further classified into:

• materials and supplies (TALC 211);
• work in progress (TALC 212);
• finished goods (TALC 213);
• goods for resale (TALC 214); and
• military inventories (TALC 215).

A1A.283.

Inventories - materials and supplies (TALC 211) consists of all goods held with the intention of using them as inputs to a production process.

Includes: Office supplies; fuel; foodstuffs.

Excludes: Costs of ownership transfer.

A1A.284.

Inventories - work in progress (TALC 212) consists of goods and services that are not yet sufficiently processed to be in a state in which it is normally supplied to other institutional units.

Includes: Growing crops; computer programs in development; and architectural drawings that are in the process of completion.

Excludes: Partially completed projects for which the ultimate owner is deemed to have taken economic ownership in stages, either when the production is for own use and the new owner assumes the risks and benefits associated with the incomplete asset, or when evidenced by specific clauses in a contract of sale or purchase (classified to the appropriate category within fixed produced assets (TALC 1)); costs of ownership transfer.

A1A.285.

Inventories - finished goods (TALC 213) consists of goods that are the output of a production process, are still held by their producer and are not expected to be processed further by the producer before being supplied to other units. Finished goods may only be held by the units that produce them.

Includes: Architectural drawings that are completed and awaiting the ultimate owner to take ownership.

Excludes: Costs of ownership transfer.

A1A.286.

Inventories - goods for resale (TALC 214) consists of goods acquired for the purpose of reselling or transferring to other units without being further processed. Goods for resale may be transported, stored, graded, sorted, washed or packaged by their owners to present them for resale in ways that are attractive to their customers or beneficiaries but they are not otherwise transformed.

Includes: Goods purchased by general government units for provision free of charge or at prices that are not economically significant to other units; goods acquired by general government for distribution as social transfers in kind but that have not yet been so delivered; strategic stocks which are held for strategic and emergency purposes; goods held by market regulatory organisations; and commodities of special importance to the nation such as grain and petroleum.

Excludes: Costs of ownership transfer.

A1A.287.

Military inventories (TALC 215) consists of single-use items delivered by weapons or weapons systems.

Includes: Ammunition; missiles, rockets, bombs.

Excludes: Single-use weapons with a highly destructive capability which provide an ongoing service of deterrence against aggressors such as ballistic missiles (classified to weapons systems ( TALC 151)), and costs of ownership transfer.

A1A.288.

Valuables (TALC 22) is further classified into:

• valuables (TALC 221).

A1A.289.

Valuables (TALC 221) are produced assets of considerable value that are not used primarily for purposes of production or consumption but are held as stores of value over time. Valuables are expected to appreciate, or at least not to decline, in real value and they do not deteriorate over time under normal conditions.

Includes: Non-monetary gold and other precious stones and metals that are not intended to be used as materials and supplies in the processes of production; paintings, sculptures and other objects recognised as works of art or antiques held primarily as stores of value over time; jewellery of significant value fashioned out of precious stones and metals; collections; and commemorative coins that are not in circulation as legal tender.

Excludes: Collections of considerable value that are not held primarily as stores of value but are owned and displayed for the purpose of producing museum and similar services (classified to machinery and equipment not elsewhere classified (TALC 129)).

A1A.290.

Other produced assets (TALC 23) is further classified into:

• other produced assets not elsewhere classified (TALC 239)..

A1A.291.

Other produced assets not elsewhere classified (TALC 239) consists of produced assets other than fixed produced assets that cannot be classified to inventories (TALC 21) or valuables (TALC 22).