Semi-finished or semi-finished product is called partially completed generated in the production economy precursors, which are either set for later processing in their own company stock or supplied to other companies, and produces finished there.
The semi-finished products stored are managed as an asset in the financial accounting of the company ( see chart of accounts).
Will semi-finished products sent abroad to be produced there ready and then re-importing, then one speaks of an Outward Processing Trade.
The production costs of internally manufactured semi-finished products are pre-calculated usually with a fixed annual standard cost rate. In the costing then actual production costs are measured at the standard cost and can be examined in more detail by means of variance analysis.