Inventories (TALC 21)

Latest release
Australian System of Government Finance Statistics: Concepts, Sources and Methods
Reference period

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).

Inventories - materials and supplies (TALC 211)


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.

Inventories - work in progress (TALC 212)


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.

Inventories - finished goods (TALC 213)


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.

Inventories - goods for resale (TALC 214)


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.

Military inventories (TALC 215)


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.

Back to top of the page