What is Tools, implements and household supplies?
Also known as: low-value and short-lived items
Means of labour included in current assets: tools, household equipment, small implements. They are accounted for in account 1080; when issued for use, their cost may be transferred to expenses in full, while to control their safekeeping they are recorded off the balance sheet in account 014 (NAS No. 21, paragraphs 98–99).