How to calculate fixed assets of an enterprise?

Increase or decrease row 1210

Inventories on the balance sheet are a current asset that indicates the company’s financial security. The absence or sharp decrease in indicators in line 1210 of the current assets section, which collects all data on inventories, may indicate a scarcity of resources in the enterprise’s warehouses. On the other hand, there is an option that the process of turning an asset into money occurs so quickly that the company can barely keep up with its marketing service.

Since financial receipts to the company’s accounts depend on the rate of inventory turnover, it is necessary to maintain the proper level of resources by pursuing an effective marketing policy.

An example of the formation of the “Non-current assets” section, thousand rubles.

————————————————————T————-¬¦ Name of indicator ¦As of 12/31/2011¦+————————————— ——————+————-+¦II.
Non-current assets ¦ ¦¦Intangible assets ¦ 100 ¦+—————————————————————+————-+¦Results of research and development ¦ 23 ¦+——— —————————————————+————-+¦Fixed assets ¦ 1200 ¦+——————————————————— —+————-+¦Income investments in material assets ¦ 247 ¦+—————————————————————+————-+¦Financial investments ¦ 200 ¦+————————————————————+————-+¦Deferred tax assets ¦ 50 ¦+————————————— ———————+————-+¦Other non-current assets ¦ 90 ¦+—————————————————————+————-+¦ Total for section ¦ 1910 ¦L————————————————————+————— Thus, if information about unfinished capital investments is significant, then it is necessary to disclose them in as part of the article “Fixed Assets” with the necessary decoding, if unimportant - under the article “Other non-current assets”.

What are fixed assets?

Property with a service life of more than a year includes:

• various buildings;
• building;
• special equipment and machines;
• tools;
• cars;
• household and industrial supplies and equipment;
• breeding working and productive livestock;
• on-farm roads;
• green perennials;
• other specified entities.

The following are also taken into account as part of tangible assets:

• financing for radical improvement of land plots: irrigation, drainage work;
• investments in leased assets: environmental management facilities, land plots (subsoil, water and other useful resources).

Where is depreciation shown on the balance sheet?

It is impossible to see the amount of depreciation in the balance sheet, since in this accounting form all assets are reflected at their residual value, that is, minus depreciation. By debit account 01 “OS” the initial cost is fixed, depreciation is accrued on the credit account. 02, in the balance sheet they indicate the difference between the initial cost and accrued depreciation (credit balance of account 02) - the residual value in line 1150. This is the principle of constructing the balance sheet - the user of financial statements should see the real cost reflection of assets as of a certain reporting date.

So, depreciation of fixed assets is taken into account on the account. 02, which according to its characteristics is regulatory, i.e., does not have independent significance. It is used only in conjunction with main account 01, which takes into account the initial cost of depreciable property. The same algorithm is applied to intangible assets, the initial cost of which is fixed on the account. 04 and is regulated by the calculation of depreciation according to account. 05. Thus, it is impossible to see depreciation charges in the balance sheet. Accrued depreciation is not recorded in the balance sheet, since it is not an asset, but transfers the value of the property to production costs, participating in the formation of production costs.

Classification and definition of fixed assets

In the methodological literature, fixed assets (non-current assets) are defined as means of labor that are directly involved in the process of the main activity and gradually (in parts) transfer their value to the cost of finished products, work performed or services provided.

In particular, in accordance with regulations, these are:

• buildings, structures;
• land owned;
• cars;
• equipment and expensive inventory;
• vehicles and mobile mechanisms;
• computers, servers and other electronic computing systems used in income-generating activities;
• measuring instruments;
• Pets;
• perennial plantings;
• roads for various purposes owned by the company.

In addition, they may include expenses for land improvement, investments in leased property and environmental management facilities of the company. The amount spent on acquisition and commissioning is reduced annually by depreciation, which depends on the established maximum operating period. The amount of the cost written off as expenses does not change based on whether or not the company has a profit or as a result of an unexpected loss.

PBU 6/01, or more precisely in paragraph 48, provides for 4 methods of calculating depreciation:

• linear method;
• taking into account the residual value of the objects;
• in proportion to the number of years of service life of the fixed asset;
• in proportion to the natural indicators of the production of finished products.

Depreciation is not charged on the property of non-profit companies, as well as lands and natural objects used in the production process.

HOA: accounting of fixed assets

Any non-profit organization uses fixed assets in its statutory activities. This is premises, furniture, computer equipment, cars, a copier, etc. Let's look at the nuances of accounting for fixed assets in homeowners' associations.

Accounting for fixed assets is regulated by Order of the Ministry of Finance of Russia dated March 30, 2001 No. 26n “On approval of the Accounting Regulations “Accounting for Fixed Assets” PBU 6/01”, by Order of the Ministry of Finance of Russia dated October 13, 2003 No. 91n “On approval of Guidelines for accounting of fixed assets."

An asset is accepted by an organization for accounting as fixed assets if the following conditions are simultaneously met:

1. the object is intended for use in the production of products, when performing work or providing services, for the management needs of the organization, or to be provided by the organization for a fee for temporary possession and use or for temporary use;
2. the object is intended to be used for a long time, that is, a period exceeding 12 months or during the normal operating cycle if it exceeds 12 months;
3. the organization does not intend the subsequent resale of this object;
4. the object is capable of bringing economic benefits (income) to the organization in the future.

Fixed assets include buildings, structures, working and power machines and equipment, measuring and control instruments and devices, computer equipment, vehicles, tools, production and household equipment and supplies, working, productive and breeding livestock, perennial plantings, on-farm roads and other relevant objects.

Assets that, by their characteristics, are related to fixed assets and cost within the limit established in the accounting policy of the organization, but not more than 20,000 rubles. per unit, may be reflected in accounting and financial statements as part of inventories. In order to ensure the safety of these objects in production or during operation, the organization must organize proper control over their movement.

A non-profit organization accepts an object for accounting as fixed assets if it is intended for use in activities aimed at achieving the goals of creating this non-profit organization (including business activities carried out in accordance with the legislation of the Russian Federation), for the management needs of the non-profit organization , as well as if conditions such as using the property for a long time and purchasing the property not for resale are met. The receipt of fixed assets at the disposal or ownership of a non-profit organization occurs as a result of targeted financing (receipt of property from the founders and participants of the organization for conducting statutory activities, receiving a grant or charitable assistance) and through acquisition under a purchase and sale agreement, lease, gratuitous use, etc. (including as a result of business activities).

Accounting for fixed assets is maintained on account 01 “Fixed Assets”. Fixed assets are accepted for accounting at their historical cost, which is the sum of the actual costs of construction or acquisition, including delivery and installation costs.

Acceptance of fixed assets for accounting, as well as changes in their initial value during completion, retrofitting and reconstruction are reflected in the debit of account 01 “Fixed assets” in correspondence with account 08 “Investments in non-current assets”.

The initial cost of fixed assets acquired for a fee is recognized as the amount of the organization's actual costs for acquisition, construction and production, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation).

The actual costs for the acquisition, construction and production of fixed assets are:

1. amounts paid in accordance with the contract to the supplier (seller), as well as amounts paid for delivering the object and bringing it into a condition suitable for use;
2. amounts paid to organizations for carrying out work under construction contracts and other contracts;
3. amounts paid to organizations for information and consulting services related to the acquisition of fixed assets;
4. customs duties and customs fees;
5. non-refundable taxes, state duties paid in connection with the acquisition of fixed assets;
6. remunerations paid to the intermediary organization through which the fixed asset was acquired;
7. other costs directly related to the acquisition, construction and production of fixed assets.

General and other similar expenses are not included in the actual costs of acquisition, construction or production of fixed assets, except when they are directly related to the acquisition, construction or production of fixed assets.

When funds are received free of charge at the disposal of a non-profit organization, the initial cost is assessed in the following ways.

The initial cost of fixed assets contributed to the contribution to the authorized (share) capital of the organization is recognized as their monetary value, agreed upon by the founders (participants) of the organization.

The initial value of fixed assets received by an organization under a gift agreement (free of charge) is recognized as their current market value as of the date of acceptance for accounting under account 08 “Non-current assets”.

If a non-profit organization receives property in the form of targeted financing, then the value of such property must be reflected in the agreement between the transferring and receiving parties and in the documents drawn up upon acceptance and transfer of property. Including in the act of acceptance and transfer of fixed assets (except for buildings, structures) (form No. OS-1). This cost will be taken into account as the initial cost.

Accounting for fixed assets is carried out in the accounting department according to classification groups in the context of inventory objects. The accounting unit for fixed assets is an inventory item. An inventory item of fixed assets is recognized as an object with all fixtures and accessories, or a separate structurally isolated item, intended to perform certain independent functions, or a separate complex of structurally articulated items, representing a single whole and intended to perform a specific job. A complex of structurally articulated objects is one or more objects of the same or different purposes, having common devices and accessories, common control, mounted on the same foundation, as a result of which each object included in the complex can perform its functions only as part of the complex, and not independently.

If one object has several parts, the useful lives of which differ significantly, each such part is accounted for as an independent inventory item.

Documentation of fixed assets in accounting registers is carried out in accordance with the order of the Ministry of Finance of Russia dated July 29, 1998 No. 34n “On approval of the Regulations on maintaining accounting and financial reporting in the Russian Federation.” Unified forms of primary accounting documentation of fixed assets and brief instructions for filling them out were approved by Resolution of the State Statistics Committee of Russia dated January 21, 2003 No. 7 “On approval of unified forms of primary accounting documentation for accounting of fixed assets.”

Upon receipt of property, the following documents are drawn up:

1. act of acceptance and transfer of fixed assets (except for buildings, structures) (form No. OS-1);
2. act of acceptance and transfer of a building (structure) (form No. OS-1a);
3. act on acceptance and transfer of groups of fixed assets (except for buildings, structures) (form No. OS-1b).

These forms are used to register and record transactions of reception, acceptance and transfer of fixed assets within an organization or between organizations:

1) for inclusion of objects in fixed assets and accounting for their commissioning (for objects that do not require installation - at the time of acquisition, for objects requiring installation - after their acceptance from installation and commissioning), received:

• under agreements of purchase and sale, exchange of property, donation, financial lease (if the fixed asset is on the balance sheet of the lessee), etc.;
• by purchasing for a fee in cash, manufacturing for one’s own needs and putting into operation completed buildings (structures, built-in and attached premises) in the prescribed manner;

2) disposal from fixed assets upon transfer (sale, exchange, etc.) to another organization.

These forms include the information necessary to maintain accounting records for account 01 “Fixed Assets”:

1. the initial cost of the object on the date of acceptance for accounting;
2. residual value of the object;
3. acquisition cost (negotiable cost);
4. the amount of accrued depreciation (wear and tear);
5. date of commissioning;
6. useful life;
7. actual service life.

When accepting fixed assets to account 01, the following forms are drawn up and maintained:

1. inventory card for recording a fixed asset item (form No. OS-6);
2. inventory card for group accounting of fixed assets (form No. OS-6a);
3. inventory book for accounting of fixed assets (form No. OS-6b).

These documents are used to record the availability of fixed assets, as well as to record its movement within the organization. Each fixed asset item is assigned an inventory number.

In the case of directing funds for targeted financing not for the current maintenance of a non-profit organization, but for the acquisition of fixed assets, the corresponding amount of targeted financing is written off from the debit of account 86 “Targeted financing” to the credit of account 83 “Additional capital” of the subaccount “Fund in fixed assets”.

However, there is an opinion that this correspondence of accounts applies exclusively to commercial organizations, since the very concept of capital is alien to the activities of non-profit organizations. In practice, some experts in the field of accounting of non-profit organizations, following the stated point of view, reflect write-offs as follows:

1. use a separate sub-account “Fund in fixed assets” of account 86 to account for target financing funds spent on the acquisition of fixed assets (debit of account 86 of the sub-account “Unused targeted income”, credit of account 86 of the sub-account “Fund in fixed assets”);
2. apply account 98 “Deferred income” of the subaccount “Gratuitous receipts” (debit of account 86, credit of account 98 of the subaccount “Gratuitous receipts”);
3. create reserves for future expenses using account 96 “Reserves for future expenses.”

A non-standard, but certainly logical approach is often used - use account 96 by opening a subaccount for it “Reserve for expenses according to estimate”, and for account 86 open subaccounts: “Unused target revenues” (86-1) and “Targeted revenues invested in non-current assets" (86-2). Thus, the acquisition of fixed assets at the expense of targeted revenues of a non-profit organization (if such costs are included in the estimate) is reflected in the following accounting entries:

DEBIT 86-1 CREDIT 96 subaccount “Reserve for expenses according to estimate”

— expenses are accrued according to the estimate for the next month;

DEBIT 08 CREDIT 60, including VAT

— an asset was acquired using targeted proceeds;

DEBIT 08 CREDIT 60, 70, 76…, including VAT

— loading and unloading, transport, installation works are reflected;

DEBIT 01 CREDIT 08

— the object is accepted on the balance sheet at its original cost;

DEBIT 60, 70, 76 CREDIT 50, 51

— payment has been made for the asset and the costs associated with its acquisition;

DEBIT 96 subaccount “Reserve for expenses according to estimate” CREDIT 86-2

— reflects the source of financing for the acquisition of an asset.

The reasoning here is that it is necessary to indicate in accounting from which sources the fixed assets were received. In this case, the target funds of the non-profit organization reserved by the estimate are not spent, but only change their form, so that their total amount is maintained.

The accounting policy for accounting purposes of a non-profit organization must specify the choice of accounting option. In accordance with PBU 9/99, assets received free of charge are reflected as other income on the credit of account 98 “Deferred income”. Subaccount 98-2 “Gratuitous receipts” takes into account the value of assets received by the organization free of charge. Analytical accounting for subaccount 98-2 “Gratuitous receipts” is carried out for each gratuitous receipt of valuables. Amounts recorded on account 98 “Deferred income” are written off from this account to the credit of account 91 “Other income and expenses” for fixed assets received free of charge as depreciation is calculated. In non-profit organizations, write-off occurs at the end of the useful life of the fixed asset.

Example

The HOA replaced the steps to the entrance for the amount of RUB 210,000. through targeted funding. The work was carried out by a contractor. In accounting, transactions for registering a repaired road will be reflected as follows:

DEBIT 08 “Investments in non-current assets” CREDIT 60 “Settlements
with suppliers”
- 210,000 rubles. — reflects the amount of services provided by the contracting construction organization;

DEBIT 01 “Fixed assets” CREDIT 08 “Investments in non-current assets”

— 210,000 rub. — reflects the amount of the initial cost of fixed assets put into operation;

DEBIT 60 “Settlements with suppliers” CREDIT 51 “Current account”

— 210,000 rub. — reflects the amount of payment made to the contractor. When purchasing fixed assets and other non-current assets (for example, intangible), sources of financing are not written off. The amounts used are reflected in the debit of account 86 upon disposal of previously acquired objects, including upon expiration of their useful life.

Example

The HOA wrote off a computer worth RUB 37,000, previously purchased using targeted funding, due to the expiration of its useful life. In this case, the following entry is made in the accounting records of the partnership:

DEBIT 86-3 “Targeted contributions” CREDIT 01 “Fixed assets”

— 37,000 rub. — the initial cost of the computer was written off using targeted funding.

When writing off an item of fixed assets acquired using targeted financing or received by a non-profit organization as targeted revenue, due to moral or physical wear and tear, its initial cost is written off from additional capital (if this option is chosen in the accounting policy for accounting purposes by the non-profit organization ), that is, at the expense of those funds that served as a source of financing for its acquisition. To account for the disposal of fixed assets, it is recommended to open a sub-account “Retirement of fixed assets” to account 01. The cost of the disposed object is transferred to the debit of this account, and the amount of accumulated depreciation is transferred to the credit. When writing off objects for which depreciation was not charged, there is no need to use an intermediate entry using this subaccount, therefore the initial cost of such fixed assets is written off from the credit of account 01 directly to the debit of account 83.

When disposing of fixed assets, a non-profit organization must also write off the amount of depreciation accrued on the credit of off-balance sheet account 010.

The write-off of the cost of an item of fixed assets acquired from income from business activities and used for its implementation, due to moral or physical wear and tear, is reflected in accounting in the subaccount “Retirement of fixed assets” of account 01. The original or replacement cost of the object is written off to the debit of the specified subaccount, and on credit to the specified subaccount - the amount of accrued depreciation. The residual value of a disposed fixed asset item is written off from the credit of the subaccount “Disposal of fixed assets” of account 01 to the debit of account 91 as a miscellaneous expense in accordance with PBU 10/99. It should be noted that the amount of the residual value of a disposed fixed asset item can be reflected directly as a debit to account 99 “Profits and losses”.

If, upon disposal of an item of fixed assets, the organization receives income in the form of material assets, then they are credited to property accounts at the current market value on the date of write-off of the item in correspondence with account 91 as other income.

When a non-profit organization sells fixed assets, the proceeds from their sale are accepted for accounting in the amount agreed upon by the parties in the agreement. Income and expenses from deregistration of the sold object are reflected in the accounting records in the reporting period to which they relate. As for the sale of objects for which depreciation was not accrued, their initial cost, in accordance with the Methodological Recommendations, is reflected by the entry:

DEBIT 83 CREDIT 01.

The amount of receipts or receivables associated with the sale of an item of fixed assets is reflected in the debit of the settlement accounts and the credit of account 91. On the date of sale, the amount of depreciation accrued on the sold item is written off under the credit of off-balance sheet account 010.

If an item of fixed assets is disposed of as a result of a commodity exchange transaction, then the amount of receipts or receivables is accepted for accounting at the cost of goods received or to be received by the organization. The cost of goods received or to be received by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the cost of similar goods or valuables. If it is impossible to determine the cost of goods or valuables received or to be received by the organization, the amount of receipts or receivables is determined based on the current market value of the retiring item, if the current market value of the item is easily determined, or based on the original cost of the retiring item minus accrued depreciation.

When disposing of fixed assets transferred as a contribution to the authorized capital of other organizations, their initial cost is written off from the credit of account 01 to the debit of account 76 “Settlements with various debtors and creditors”.

Financial investments in the form of contributions to the authorized capital of other organizations are accepted for accounting at a valuation equal to the initial cost of fixed assets transferred as a contribution.

Example

Non-profit organization (HOA) with funds allocated by targeted funding (grant) in the amount of 33,000 rubles. acquired a fixed asset with a useful life of five years. The following accounting entries should be made:

DEBIT 51 “Current accounts” CREDIT 86 “Targeted financing”

— funding received;

CREDIT 51 “Current accounts” DEBIT 60 “Settlements with suppliers and contractors”

— the fixed asset has been paid for;

CREDIT 60 “Settlements with suppliers and contractors” DEBIT 08 “Investments in

fixed assets"

— the fixed asset has been capitalized;

DEBIT 01 “Fixed assets” CREDIT 08 “Investments in non-current assets”

— the fixed asset has been capitalized;

DEBIT 86 “Targeted financing” CREDIT 98 “Deferred income”

- financing is charged to deferred income (or LOAN 83 “Additional capital”

).

After five years, the disposal of fixed assets is reflected:

DEBIT 98 “Deferred income” CREDIT 91 “Other income and expenses” CREDIT account 01 “Fixed assets” DEBIT 91 “Other income and expenses”.

According to paragraph 17 of PBU 4/01, depreciation is not accrued for fixed assets of non-profit organizations. Based on them, information on the amounts of depreciation accrued in a straight-line manner is compiled in the off-balance sheet account in the manner established by this provision. Thus, formally, the value of the property of non-profit organizations is overestimated, which leads to an increase in the amount of corporate property tax payable to the budget.

In accordance with subparagraph 2 of paragraph 2 of Article 256 of the Tax Code of the Russian Federation, property of non-profit organizations received as earmarked proceeds or acquired at the expense of earmarked proceeds and used for non-commercial activities is not subject to depreciation.

Thus, a non-profit organization must decide on the sources of acquisition of fixed assets and the purposes for their further use.

If fixed assets were acquired at the expense of income received from business activities and are subsequently used to carry out business activities, then depreciation is charged on such objects in the manner prescribed by law. This norm must be reflected in the accounting policies of a non-profit organization.

In accordance with the working chart of accounts, fixed assets acquired from business income are used in both commercial and non-commercial (statutory) activities, and in such a way that it is not possible to clearly separate them. As a rule, in a non-profit organization in such a situation, depreciation is not charged on fixed assets.

Very often, non-profit organizations receive office equipment and computers in the form of targeted funding. These fixed assets are a complex of structurally articulated items for different purposes, representing a single whole, having common control and intended to perform a specific job (printer, mouse, motherboard, disk drive, etc.). The item included in the kit can perform its functions only as part of the complex, and not independently. Peripheral devices purchased at different times are connected to the computer and are part of a single inventory item.

Since the fixed asset was initially received as part of targeted contributions, its value is listed in account 83 “Additional capital”. But since this object is now being sold, it will no longer be used in statutory activities. Therefore, the fixed asset is now considered to have been received free of charge, and other income is generated in the same amount that is listed in account 83. This means that the following entry must be made in accounting:

DEBIT 83 CREDIT 91 subaccount “Other income”

— the cost of the object recorded in the additional capital account is written off.

It is also necessary to write off the accrued depreciation on the fixed asset from off-balance sheet account 010.

A non-profit organization can use intangible assets in its activities. Intangible assets are recognized as acquired and (or) created by the organization the results of intellectual activity and other objects of intellectual property (exclusive rights to them), used in the production of products (for performing work, providing services) or for the management needs of the organization for a long time (lasting over 12 months). Accounting for intangible assets is covered by PBU 14/2007, approved by Order of the Ministry of Finance of Russia dated December 27, 2007 No. 153n.

To recognize an intangible asset, it is necessary to have the ability to generate economic benefits (income), as well as the presence of properly executed documents confirming the existence of the intangible asset itself and (or) the organization’s exclusive right to the results of intellectual activity (including patents, certificates, other security documents, agreement of assignment (acquisition) of a patent, trademark).

Intangible assets, in particular, include:

1. the exclusive right of the patent holder to an invention, industrial design, utility model;
2. the exclusive right of the author and other copyright holder to use a computer program, database;
3. the exclusive right of the author or other copyright holder to use the topology of integrated circuits;
4. exclusive right to a trademark, service mark, appellation of origin of goods and company name;
5. the exclusive right of the patent holder to selection achievements;
6. possession of know-how, a secret formula or process, information regarding industrial, commercial or scientific experience.

The initial cost of amortizable intangible assets is determined as the sum of the costs of their acquisition (creation) and bringing them to a state in which they are suitable for use.

The cost of intangible assets created by the organization itself is determined as the amount of actual expenses for their creation and production (including material expenses, labor costs, expenses for services of third-party organizations, patent fees associated with obtaining patents and certificates).

Intangible assets do not include:

1. scientific research, development and technological work that did not produce a positive result;
2. intellectual and business qualities of the organization’s employees, their qualifications and ability to work.

To account for intangible assets, account 04 “Intangible assets” is used. When calculating depreciation in non-profit organizations, guided by Article 256 of the Tax Code of the Russian Federation, as in relation to fixed assets, it is necessary to resolve the issue of the sources of acquisition of intangible assets and the purposes of their further use.

If intangible assets were acquired from income received from business activities and are subsequently used to carry out business activities, then depreciation is charged on such objects in the manner prescribed by law. This norm must be reflected in the accounting policies of a non-profit organization.

Example

Non-profit organization (HOA) with funds allocated by targeted funding (grant) in the amount of 100,000 rubles. acquired intangible assets with a useful life of three years. The following accounting entries should be made:

DEBIT 51 “Current accounts” CREDIT 86 “Targeted financing”

— funding received;

CREDIT 51 “Current accounts” DEBIT 60 “Settlements with suppliers and contractors”

— paid for intangible assets;

CREDIT 60 “Settlements with suppliers and contractors” DEBIT 08 “Investments in non-current assets”

— intangible assets are capitalized;

DEBIT 04 “Intangible assets” CREDIT 08 “Investments in non-current assets”

— intangible assets are capitalized;

DEBIT 86 “Targeted financing” CREDIT 98 “Deferred income”

— financing is charged to deferred income ( LOAN 83 “Additional capital”

).

After three years, the disposal of intangible assets is reflected:

DEBIT 98 “Deferred income” CREDIT 91 “Other income and expenses”

CREDIT 04 “Intangible assets” DEBIT 91 “Other income and expenses.”

In practice, a homeowners association may modernize or reconstruct fixed assets, which also requires accounting for the transactions performed.

Example

The HOA modernized the gatehouse, which is on the balance sheet of the partnership: light was installed, walls were insulated, etc. The cost of the work according to the estimate was 71,000 rubles, including 30,000 rubles. — cost of work performed by a third party, 41,000 rubles. - cost of building materials. In this case, the following entries must be made in the accounting of the partnership:

DEBIT 08 “Investment in non-current assets” CREDIT 60 “Settlements with suppliers”

— 30,000 rub. — the cost of the work is reflected;

DEBIT 08 “Investment in non-current assets” CREDIT 10 “Materials”

— 41,000 rub. — reflects the cost of materials spent on modernizing the gatehouse;

DEBIT 01 “Fixed assets” CREDIT 08 “Investment in non-current assets”

— 71,000 rub. — the initial cost of the gatehouse has been increased.

The corresponding records on the work performed are reflected in form No. OS-3 “Act of acceptance and delivery of repaired, reconstructed, modernized fixed assets”, and marks are also made on the card in form No. OS-6.

Maintenance work, as well as routine repairs of fixed assets, includes work to systematically and timely protect them from premature wear and maintain them in working condition. In this case, expenses must be carried out in strict accordance with the estimate of income and expenses.

Example

The HOA carried out the following repairs to the gatehouse building: the broken glass was replaced. The cost of work and materials was 5,000 rubles. The repairs were carried out according to the budget item “Other unforeseen expenses”. The following entries are made in HOA accounting:

DEBIT 86-2 “Membership fees” CREDIT 10 “Materials”

— 2800 rub. - the amount of the cost of purchased and used materials;

DEBIT 86-2 “Membership fees” CREDIT 60 “Settlements with suppliers”

— 2300 rub. - for the cost of the work of the organization that replaced the broken glass.

It is important to note that non-profit organizations do not have the right to allocate targeted funding for the repair of fixed assets acquired for business activities. Otherwise, targeted funds aimed at repairing fixed assets used for business activities must be included in non-operating income from the moment the funds received are misused.

If a fixed asset is used in business activities, then, in accordance with paragraph 1 of Article 260 of the Tax Code of the Russian Federation, expenses for its repair are included in other expenses and are recognized for tax purposes in the reporting (tax) period in which they were incurred, in the amount of actual expenses . In this case, the partnership’s accountant must organize separate accounting of expenses for the repair of fixed assets used for statutory (non-commercial) purposes and for commercial purposes.

Example

The homeowners' association has on its balance sheet a computer worth 37,000 rubles, purchased using targeted funding. The computer was rented to K.N. Ivanov for a fee - 500 rubles. per month. In May 2010, expenses were incurred for the repair of rental property in the amount of 1,500 rubles.

Thus, property acquired through targeted financing is used not for statutory purposes, but to generate income. There is no other use for this property. The property is subject to depreciation. As well as inclusion in income due to inappropriate use. The following entries are made in the partnership's accounting:

DEBIT 76-5 “Settlements with various debtors and creditors” CREDIT 91-1 “Other income”

— 500 rub. — rent has been accrued for the property being rented out;

DEBIT 50 “Cash” CREDIT 76-5 “Settlements with various debtors and creditors”

— 500 rub. - the rent payment has been received at the cash desk;

DEBIT 86-3 “Targeted contributions” CREDIT 91-1 “Other income”

— 37,000 rub. — the initial cost of the computer is included in the partnership’s income due to its inappropriate use;

DEBIT 91-2 “Other expenses” CREDIT 60 “Settlements with suppliers”

— 1500 rub. — expenses for computer repairs are reflected.

In the accounting records of the partnership, depreciation is not accrued, however, when filling out an income tax return, depreciation in the amount of 740 rubles can be taken into account for tax purposes. (RUB 37,000: 50 months) (use period is established in accordance with the Classification of fixed assets - 50 months).

The useful life of fixed assets, in accordance with which depreciation is calculated, is established by the Classification of fixed assets included in depreciation groups, approved by Decree of the Government of the Russian Federation of January 1, 2002 No. 1. This classification can be used for accounting purposes in commercial organizations.

We emphasize that in the above example, depreciation is reflected in the amount of the monthly value - for clarity in reflecting the financial result. However, non-profit organizations themselves do not charge depreciation, therefore the cost of these objects for tax purposes is determined as the difference between their original cost and the amount of depreciation calculated according to the established depreciation rates for accounting purposes at the end of each tax (reporting) period. Non-profit organizations charge depreciation in accounting only at the end of the calendar year. Therefore, an entry for the amount of depreciation charges for property used for commercial purposes should be made at the end of the year in the amount of the annual depreciation rate. At the same time, a posting is made to the off-balance sheet account 010.

In accordance with paragraph 2 of Article 253 of the Tax Code of the Russian Federation, the amounts of accrued depreciation are included in expenses associated with production and (or) sales. In accordance with Article 259 of the Tax Code of the Russian Federation, taxpayers calculate depreciation using the linear or non-linear method. The chosen method must be enshrined in the order on accounting policies.

Common entries in accounting for fixed assets.

1. Formation of the initial cost of fixed assets, commissioning of equipment
   Dt01 Kt 08.
2. Write-off of residual value upon disposal of fixed assets (for example, upon sale or write-off upon transition to more modern equipment)
   Dt91 Kt 01.
3. Accrual of depreciation charges
   Dt20 (23, 25, 26, 29) Kt 02 - charges for objects depending on production.
4. Write-off of accrued depreciation upon disposal of fixed assets
   Dt02 Kt01
5. Depreciation charges for revaluation of objects
   Dt83 Kt02.
6. Depreciation charges for assets provided for temporary use to counterparties
   Dt91 Kt02

Note from the author! The posting is drawn up in cases where the rental of assets is not the main activity of the company and additional income is accounted for in account 91.

Fixed assets in the balance sheet: line

In the balance sheet, fixed assets are reflected in line 1150 “Fixed assets” (Order of the Ministry of Finance dated July 2, 2010 No. 66n).

Please note that if fixed assets are intended solely for provision for a fee for temporary possession and use or for temporary use in order to generate income, they are reflected in the balance sheet on line 1160 “Income-generating investments in tangible assets” (clause 5 of PBU 6/01 , Order of the Ministry of Finance dated July 2, 2010 No. 66n).

Balance Sheet Structure

In the balance sheet, the accountant reflects all the basic data on the finances of the enterprise for a certain period. There are several types of balance sheets. In practice, Russian accountants most often implement it in the form of 2 sections:

• The first reflects the property of the enterprise in the form of its value. This part is called the asset of the balance sheet;
• In the second block of the document, the specialist writes down the sources from which this organization’s property—the liability—was obtained.

It is thanks to the presence of a certain amount of property that the enterprise can carry out its work in full. Experts consider the property of any enterprise as having a material value.

Let's take a closer look at the first part - the asset of the balance sheet, where all the data on the property and obligations of the organization that are under control are recorded.

This is all the property that is used to create labor products, as well as that which should bring him profit.

It consists of two main blocks:

• Fixed assets. They refer to the property of an organization that is used in the production of a labor product for a long time. The cost is calculated in several parts. It is worth noting that the service life of such property must exceed 1 year;
• Current assets. They represent company assets that have a short lifespan or are in constant flux. Its cost is stated only once. The period of use of current assets must be less than 12 months. However, it can be changed.

Composition of the enterprise's property

The basis of any balance sheet is the current and non-current assets of the enterprise, then it is necessary to figure out which pieces of property can be taken into account as the property of the organization. Experts identify several types of property included in the balance sheet. Thus, the company’s property can be taken into account in the balance sheet in:

• Monetary form;
• Natural form.

Therefore, it is necessary to consider a more detailed classification:

• Production assets. These include the company's property, which allows it to form its economic potential. It also allows you to determine the size of the organization, the direction of its work, which contributes to making a profit. These include: intangible assets, fixed assets, and inventories;
• Commodity. This property is intended to receive financial resources and create a product of labor. Experts classify this type as: finished products and goods and services;
• Settlement and monetary assets include property that ensures the company's expenses for its needs, namely: accounts receivable, financial assets.

In order to understand each of the types of enterprise ownership, it is necessary to consider each of them separately:

Intangible assets. This is property that has no material structure. It is most often isolated and applied for a certain time. It must exceed the business cycle of creating a product and the timing of its implementation;

• Fixed assets of the enterprise. These include tangible non-current assets that can be used for more than 12 months to produce goods and services;
• Financial resources. They refer to the cash of an enterprise, as well as the finances that enterprises have in bank accounts. This number also includes demand deposits;
• Long-term financial investments of the enterprise. These are the rights of an enterprise that are entitled to its share of property in other organizations;

• Productive reserves. This is all the property of the enterprise, which is the basis of all material objects for carrying out economic activities;
• Goods and services. This is the tangible property of an enterprise that was acquired or produced by it for its subsequent sale;
• Finished product of labor. This property of the enterprise, which was produced by him, has passed all the necessary tests for compliance with norms and quality standards, and is also equipped for subsequent sale on the market;
• Accounts receivable. This is the total amount paid to the business from other sources. They may be intermediary organizations.

Methods for analyzing key balance sheet indicators

Natural indices are needed to indicate the amount and totality of fixed assets, calculate production load, coordinate repair work and replace technical devices.

Cost indices show the integral cost of the composition and growth of fixed assets, calculation of depreciation write-offs, initial cost, and profitability of an industrial facility.

3 ways to monitor fixed assets balance sheet:

Initial cost. It denotes the total expenses of the organization for the purchase, delivery and launch of fixed assets; Initial cost is the actual cost of creating such funds

At cost, operating systems are taken into account and analyzed at prices of the period in which they were produced; Replacement cost. It represents the cost of recreating fixed assets under new operating conditions

Replacement cost indicates how much cash the organization would have to spend during the period of replacing the production level of fixed assets in inventory with a new item of a similar configuration; Replacement cost is established by the method of revaluation of fixed assets; Today, financial institutions are given a quota for independent analysis of fixed assets at the beginning of the reporting period, but are limited to one assessment per year. The analysis is done based on indicators that are officially published, and a direct calculation based on documented market pricing policies; Residual value. It denotes a value expression that has not yet been transferred to the finished product. Residual value is calculated as the difference between the cost or replacement cost and the accounting of calculated waste. In an organization, when preparing a cost estimate, the cost is taken into account, and after analysis, the assets are recorded in the replacement cost column. But in the balance sheet of an industrial facility, active assets are at the final cost.

In addition to these points, there are 2 additional methods for monitoring fixed assets:

• Liquidation value. It denotes the value of the likely sale of depleted assets upon disposal;
• Amortized cost. It denotes the cost necessary to evaluate the finished product.

Valuation of fixed assets in accounting

In domestic accounting and statistical practice, several main types of valuation of fixed assets are most often used, among which we can distinguish valuation at historical cost, at original cost taking into account depreciation, at full replacement cost, at replacement cost taking into account depreciation and at book value.

Definition 2

The full initial cost represents the cost of funds in prices that take into account fixed assets at the time of their placement on the balance sheet. Using this cost, you can express the actual cost of constructing a building, structure, including the acquisition, delivery, installation and installation of funds (equipment and machinery). The assessment is carried out at prices that are valid at the time of construction or purchase of these objects.

After acceptance of fixed assets into operation, this cost can be reflected in the balance sheet asset in the “Fixed Assets” account, remaining unchanged until the moment of revaluation.

Residual initial cost includes the cost measured in the prices at which an item of fixed assets was placed on the balance sheet when accounting for depreciation at the time of its determination. This cost is determined by the full initial cost of fixed capital minus the amount of depreciation that has been accumulated in accordance with accounting data:

OPst = PPst – Wear

There are two types of wear and tear: physical wear and tear (depending on the technical condition), obsolescence (reduction of production costs, decrease in the consumer value of existing assets after the introduction of new, more efficient means of labor).

Full replacement cost can be determined by measuring the cost of recreating new items of fixed assets. This cost is taken into account when revaluing fixed assets, based on the actual conditions of their reproduction (contractual prices and estimated prices for construction and installation work, wholesale prices, etc.).

Residual replacement value can be determined as a result of revaluation as the difference between the full replacement cost of fixed assets and the monetary assessment of their depreciation in accordance with accounting information:

OVst = PVst – Wear

Valuation at book value characterizes the value of funds at the time they are registered on the balance sheet. The book value includes a mixed valuation of fixed assets, since part of the inventory objects is on the balance sheet at replacement cost at the time of the last revaluation, and objects that were introduced in subsequent periods are accounted for in accordance with the original cost (acquisition cost).

Filling a line

Line 1150 indicates the residual value of all financial assets of the organization, formed at the end of the reporting period. To do this, from the primary price of the company's fixed income, reflected in account 01 in debit, it is necessary to subtract the amount of depreciation accumulated on them (accounted for in account 02 in credit). That is, this line records the difference between the debit balance of account 01 and the credit balance of account 02.

If additional equipment or reconstruction took place (as a result of which the initial price of the objects was increased), this must be stated in the appendices to the accounting. balance.

The same applies to the revaluation of property. As a rule, it is carried out once a year. It is carried out by indexing the current value of objects or by recalculating to the actual market price. The resulting differences increase the amount of additional capital.

One of the letters from the Ministry of Finance states that financial assets that are unsuitable for subsequent use must be written off. Their residual price is included in other costs.

What must be observed when accepting assets for accounting?

When registering property as fixed assets, the following conditions must be simultaneously met:

• application in the production of various products, in the provision of services and the implementation of work for the management needs of the enterprise;
• use over a long period of time, more than a year or an operating cycle if it exceeds 12 months;
• the ability to bring financial benefits to the company, that is, income in the future;
• The company does not intend to sell these objects.

Useful life is the period during which property, acting as a fixed asset, brings profit to the enterprise. For some groups of assets, the useful life should be considered the amount of production expected as a result of using the asset.

There are several types of depreciation of tangible assets:

• Obsolescence is the loss of structures, buildings, vehicles and other types of equipment of their original value due to progress in science and technology and increased productivity.
• Physical wear and tear is the action of natural forces of nature, for example, metal corrosion and intense work.

An accounting unit for tangible assets is an inventory object with all accessories and fixtures or separately separate property. The organization's fixed assets are taken onto the balance sheet at their original cost: the amount of expenses for the purchase, manufacture and installation of the object.

It is important! Enterprises can revaluate assets at replacement cost no more than once a year.

Depreciation: direct or indirect costs

The point is that Ch. 25 of the Tax Code of the Russian Federation does not provide direct instructions limiting enterprises from classifying any specific costs as direct or indirect. And this becomes the basis for the taxpayer to classify the amounts of accrued depreciation as indirect expenses.

However, during audits, tax authorities often raise the issue of grading these costs, citing the fact that the enterprise’s choice regarding the costs that form the cost of manufactured products must have a strong justification, i.e., in the company’s accounting policy it is necessary to establish a clear mechanism for allocating costs into direct and indirect using economically sound indicators .