Accounting for profitable investments in material assets. Income investments are also fixed assets Income investments in material assets are reflected
On account 03 "Profitable investments in material assets" fixed assets are taken into account that are intended exclusively for provision by an organization for a fee for temporary possession and use or for temporary use in order to generate income (including under leasing, rental, rental agreements) (clauses 4, 5 of PBU 6/01, clause 3 Instructions on the reflection in accounting of transactions under a leasing agreement).
Fixed assets that are accounted for on account 03 are taken into account at their original cost, which is determined in accordance with paragraphs 8 - 13 of PBU 6/01, in the same order as fixed assets (that is, based on all expenses, associated with their acquisition).
The initial cost of fixed assets is repaid by depreciation. The amounts of depreciation accrued on fixed assets are reflected in account 02 “Depreciation of fixed assets” according to the corresponding analytics.
Example. The main activity of the organization is the provision of construction machinery for rent.
In the reporting year, the organization purchased an excavator. The cost of the excavator is 472,000 rubles. (including VAT - 72,000 rubles).
A state fee of 1,000 rubles was paid for registering the excavator.
Table 1.6 - Accounting for transactions involving the acquisition of an object of profitable investment in material assets
Depreciation on profitable investments in tangible assets is accrued in the same order as for fixed assets recorded on account 01.
Accounting for depreciation of fixed assets
The procedure for calculating depreciation of fixed assets is given in section III of PBU 6/01 and explained in more detail in part 3 (clauses 45-68) of the Guidelines for accounting for fixed assets.
Depreciation of fixed assets- this is the accumulation of funds to replace them by including depreciation charges in production costs.
Objects for calculating depreciation are objects of fixed assets located in the organization under the right of ownership, economic management, and operational management. It does not matter that the object owned by the organization with the specified rights is actually absent (transferred for lease, gratuitous use, trust management).
An exception is made only for leasing relationships (depreciation is calculated by the balance holder, determined by the terms of the contract) and the rental of property complexes under an enterprise lease agreement.
No depreciation is charged:
· for fixed assets that are mothballed and not used in production, performing work or providing services, for the management needs of the organization or for provision by the organization for a fee for temporary possession and use or for temporary use, and intended for the implementation of the legislation of the Russian Federation on mobilization preparation and mobilization, that is, not used for any purposes;
● for housing facilities(residential buildings, dormitories, etc.), if they are not used to generate income. Otherwise, such fixed assets are accounted for in account 03 “Income-earning investments” and are subject to depreciation in the generally established manner;
· for fixed assets of non-profit organizations. Based on them, instead of accruing depreciation on off-balance sheet account 010 “Depreciation of fixed assets,” information on the amounts of depreciation accrued using linear methods is summarized;
· for fixed assets whose consumer properties do not change over time(land plots and environmental management facilities).
Depreciation on fixed assets is calculated taking into account the following factors:
● depreciable cost of the object;
● useful life of the object;
● the method used to calculate depreciation.
Amortized cost, as a rule, is the initial or replacement (current) cost of the fixed asset.
Useful life- this is the period during which the use of an item of fixed assets is intended to generate income for the organization or serve to fulfill the goals of the organization.
The useful life of an item of fixed assets is determined by the organization when accepting the item for accounting on the basis of:
● the expected period of use of the facility, taking into account its productivity and capacity;
● expected physical wear and tear, depending on the operating mode, natural conditions and the influence of an aggressive environment, and the repair system;
● regulatory and other restrictions on the use of this object (for example, rental period).
Depreciation calculation fixed assets in accounting is made by one of the following ways:
● linear method;
● reducing balance method;
● method of writing off value based on the sum of the numbers of years of useful life;
● method of writing off the cost in proportion to the volume of products (works).
In tax accounting there are only two methods of calculating depreciation: linear and non-linear.
The choice of method for calculating depreciation is subject to mandatory enshrinement in the accounting policies of the organization. The organization chooses the method of calculating depreciation once when putting a fixed asset into operation in accordance with the rules in force at that time; it is not subject to revision in subsequent periods of operation of the object.
In tax accounting, unlike accounting, the method of calculating depreciation can be changed. The transition from linear to nonlinear is possible from the beginning of the new year. The reverse transition can be carried out once every five years (clause 1 of Article 259 of the Tax Code of the Russian Federation).
Linear method assumes that the functional usefulness of an item of fixed assets depends on the time of its use and does not change over its service life.
With the linear method, the annual amount of depreciation charges (Agod) is determined based on the initial or current (replacement) cost of an object of fixed assets (Ps) and the depreciation rate calculated based on the useful life of this object (Na), according to the formula:
Example. The company purchased equipment with an initial cost of 1025 thousand rubles. and a useful life of 5 years.
The annual depreciation rate is:
N a = 100: 5 = 20%.
The annual amount of depreciation charges is:
A year = 1025 ∙ 20: 100 = 205 thousand rubles.
In 5 years, the cost of the equipment will be repaid in full.
Reducing balance method is based on the fact that the utility and productivity of fixed assets in the initial periods of use is much higher than in subsequent periods.
With the reducing balance method, the annual amount of depreciation is determined based on the residual value of the fixed asset item at the beginning of the reporting year (Oc), the depreciation rate calculated based on the useful life of this item (Na), and the acceleration factor established in accordance with the legislation of the Russian Federation (kу ). The calculation is carried out according to the formula:
, rub.
Example. The initial cost of the equipment is 1,025,000 rubles. Useful life is 5 years. The depreciation rate, calculated based on the useful life, is 20% (100%:5). The acceleration factor is assumed to be 3. The annual depreciation rate will be 60% (20% × 3). The calculation of depreciation for an object using the reducing balance method is presented in Table 1.7.
Table 1.7 - Calculation of depreciation amounts by year
| Year of operation of the facility | Residual value at the beginning of the year, rub. | Depreciation rate, % | Residual value at the end of the year, rub. | |
| 1 | 1025000 | 60 | 1025000 × 0.6 = 615000 | 1025000 – 650000 = = 410000 |
| 2 | 410000 | 60 | 410000 × 0.6 = 246000 | 410000 – 246000 = = 164000 |
| 3 | 164000 | 60 | 164000 × 0.6 = =98400 | 164000 – 98400 = = 65600 |
| 4 | 65600 | 60 | 65600 × 0.6 = 39360 | 65600 – 39360 = = 26240 |
| 5 | 26240 | 60 | 26240 × 0.6 = =15744 | 10496 |
| Total | 1014504 |
As can be seen from the table, at the end of the useful life the residual value of the object was 10,496 rubles. or 1.03% of its original cost (10496: 1025000 × 100).
At method of writing off cost by the sum of the numbers of years of useful life the annual amount of depreciation charges is determined based on the initial or current (replacement) cost of the fixed asset object (Ps) and the ratio, the numerator of which is the number of years remaining until the end of the useful life of the object (Sk), and the denominator is the sum of the numbers of years of the useful life use of the object (Co). The calculation is carried out according to the formula:
, rub.
Example. The initial cost of the equipment is 1,025,000 rubles. Useful life is 5 years. The calculation of depreciation for an object by writing off the cost based on the sum of the numbers of years of its useful life is presented in Table 1.8.
Table 1.8 - Calculation of depreciation amounts by year.
| Year of operation of the facility | Service life (years remaining) | Depreciation rate | Annual amount of depreciation, rub. |
| 1 | 5 | 5: 15 = 0,333 | 1025000 × 0.333 = 341325 |
| 2 | 4 | 4: 15 = 0,267 | 1025000 × 0.267 = 273675 |
| 3 | 3 | 3: 15 = 0,200 | 1025000 × 0.200 = 205000 |
| 4 | 2 | 2: 15 = 0,133 | 1025000 × 0.133 = 136325 |
| 5 | 1 | 1: 15 = 0,067 | 1025000 × 0.067 = 68675 |
| Total | 15 | 1,000 | 1025000 |
At method of writing off the cost in proportion to the volume of products (works) depreciation charges are calculated based on the natural indicator of the volume of production (work) in the reporting period (V) and the ratio of the initial cost of the fixed asset item (Ps) and the estimated volume of products (work) for the entire useful life of the fixed asset item (Op). The calculation is carried out according to the formula:
, rub.
Example. The organization purchased a vehicle worth 870 thousand rubles, with a useful life of 6 years and an expected mileage of 400 thousand km. During the reporting period, the mileage was 10 thousand km.
The amount of depreciation charges per 1 km of run will be:
870: 400 = 2.175 thousand rubles.
The amount of depreciation charges in the reporting period will be:
2.175 × 10 = 21.75 thousand rubles.
Regardless of the method used, depreciation charges are calculated monthly in the amount of 1/12 of the annual amount and taking into account the depreciation amounts for fixed assets received and disposed of last month.
In accounting, depreciation charges for an object of fixed assets are accrued monthly starting from the month in which the object is included in the fixed assets, and stops from the 1st day of the month following the month when the fixed asset is completely depreciated or written off from the company's balance sheet.
In tax accounting, depreciation begins on the 1st day of the month following the month in which the fixed asset was put into operation (clause 4 of Article 259 of the Tax Code of the Russian Federation).
Accounting for depreciation of fixed assets is carried out passively account 02 “Depreciation of fixed assets” method of its accumulation.
| Account 02 “Depreciation of fixed assets” |
|
| The amount of depreciation on fixed assets disposed of during the reporting period, in correspondence with the credit of account 01, subaccount “Retirement of fixed assets”. Reducing the amount of depreciation charges for fixed assets for production purposes when they are revalued in correspondence with the credit of account 83. | Сн – the amount of accrued depreciation at the beginning of the reporting period Accrual in the reporting period of the amount of depreciation on fixed assets used: 08 – in capital construction; 20 – in main production departments; 23 – in auxiliary production; 25, 26 – in functional services; 29 – in service industries and farms; 44 - in the process of selling products, etc. An increase in the amount of depreciation charges for fixed assets for production purposes as a result of their revaluation in correspondence with the debit of account 83. Sk - the amount of accrued depreciation at the end of the reporting period. |
Analytical accounting for account 02 “Depreciation of fixed assets” is carried out by type and individual inventory of fixed assets.
Accounting account 03 is the active account “Income-producing investments in material assets.” Let's study in more detail the specifics of using account 03 in accounting, what is taken into account in this account, as well as examples of operations and postings on account 03.
Before talking about account 03 “Profitable investments in material assets,” let’s define profitable investments.
Income investments are funds that an organization invests in the acquisition of property, which in the future will generate income for the organization.
Account 03 is used by organizations whose main activities are:
- Leasing;
- Rental;
- Renting out property on a permanent basis.
Consequently, account 03 accounts for property that the organization decided to rent out, lease, rent on an ongoing basis and receive income from these types of activities.
Account 03 in accounting
Account 03 is included in accounting. accounting for non-current assets. Therefore, the account is active.
The debit of account 03 reflects the receipt of investments that should generate income for the organization by providing it for temporary use with subsequent redemption or without redemption.
The credit of account 03 reflects disposals: write-off, sale, shortage, damage, gratuitous transfer, liquidation.
Important to note: organizations whose main activity is not leasing property on an ongoing basis, records of leased property are kept on account 01 “Fixed Assets”.
The organization of analytical accounting on account 03 is shown in the diagram:
Table of main accounting entries for account 03
Examples of transactions and postings for account 03
Example No. 1. Purchase and lease of vehicles
For example, on behalf of a motor transport company, a leasing company purchased 5 buses. There is a consignment note from JSC Avtotekhnika No. 8 dated 04/17/2014. in the amount of RUB 9,500,000, incl. VAT RUB 1,449,152.54 A purchase and sale agreement was concluded between the leasing company and Avtotekhnika JSC.
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Subsequently, a vehicle leasing agreement was concluded between the leasing company and the motor transport enterprise for 4 years with the right to purchase.
The vehicles were transferred to the lessee in accordance with the transfer acceptance certificate.
Leasing company on the general taxation system.
According to the accounting policy, for accounting purposes, the amount of depreciation charges for property that is the object of leasing with the right to purchase is determined by the linear method based on the useful life corresponding to the term of the leasing agreement.
The duration of the leasing agreement is 48 months. Consequently, the period during which the use of leased property brings economic benefits is also 48 months.
In the accounting records of the leasing company, entries have been created where:
- Account 03.1 - property of the leasing company;
- Account 03.2 - property transferred to the lessee:
| Dt | CT | Sum,rub. | Wiring description | Document |
| 08 | 60 | 8 050 847,46 | The costs of purchasing vehicles are reflected | Bill of lading, purchase and sale agreement |
| 19 | 60 | 1 449 152,54 | VAT allocated | Invoice |
| 68 | 19 | 1 449 152,54 | VAT is deductible | Invoice |
| 03.1 | 08 | 8 050 847,46 | Vehicles registered | Act of Handover |
| 03.2 | 03.1 | 8 050 847,46 | Vehicles are leased | Act of Handover |
| 20 | 02 | 167 725,99 | Monthly depreciation since May 2014. | Accounting certificate-calculation 8050847.46/48 months |
Example No. 2. Return of leased equipment by the lessee and its further sale by the leasing company
For example, after two years of operation of vehicles, in April 2016, the lessee terminated the leasing agreement for 5 buses. The leasing company sold the returned property.
Let's use the indicators from the previous example and present them in the form of a table:
| Indicators | Amount, rub. | Note |
| Book value of vehicles | 8 050 847,46 | |
| 5 buses leased | 8 050 847,46 | |
| Leasing term | 48 months | |
| Monthly depreciation amount | 167 725,99 | Accounting certificate-calculation: 8050847.46/48 months |
| Depreciation was calculated from May 2014 to April 2016 for leasing buses |
4 025 423,76 | Accounting certificate-calculation 167725.99*24 months |
| Sales revenue including VAT | 4 900 000,00 | The selling price of buses was determined by an independent appraiser: 980,000*5 units |
Organization at OSN. In the accounting records of the organization, transactions should be reflected in account 03, where:
- Account 03.1 - property from the leasing company;
- Account 03.2 - property transferred to the lessee;
- Account 03.3 - disposal of property:
| Dt | CT | Sum,rub. | Wiring description | Document |
| 03.1 | 03.2 | 8 050 847,46 | Return of buses | Bus return act |
| 03.3 | 03.1 | 8 050 847,46 | The cost of buses retired due to the sale was written off | |
| 02 | 03.3 | 4 025 423,76 | The amount of depreciation written off | Certificate of acceptance of transfer of an OS object |
| 76 | 91 | 4 900 000,00 | Sales of buses | Certificate of acceptance of transfer of an OS object |
| 91 | 68 | 747 457,63 | VAT calculated | Invoice (4900000*18/118) |
| 91 | 03.1 | 4 025 423,70 | The residual value is reflected in other expenses | Certificate of acceptance of transfer of an OS object |
Often individuals and legal entities come across this concept, but not everyone is familiar with its definition.
It is especially important for entrepreneurs to familiarize themselves with information about the reflection of these investments in accounting, which will allow them to avoid problems with the tax authorities.
What it is?
Profitable investments in material assets are enterprise investments in equipment, real estate, property and other valuables, which are expressed in material form and are provided for temporary use to third parties for the purpose of extracting economic benefits(in simple terms, these are investments in assets that are purchased for subsequent rental or leasing).
Fixed assets that are used for rent are reflected in accounting and reporting. They must be part of the income-generating investments of the type in question.
The company's profit is an increase in economic benefits due to the receipt of cash, as well as the repayment of debt obligations, which led to an increase in capital.
In this case, the following receipts from individuals and organizations will not be recognized as income of the enterprise:
- export duties, value added tax amounts and other mandatory payments;
- under agency and other similar agreements;
- advance payment for goods, services and works;
- pledged property, if its subsequent transfer to the pledgee is provided for;
- funds used to pay off debts.
The company's receipts are classified depending on the conditions of receipt and features:
- income from standard activities;
- operating rooms;
- non-operating.
Income that differs from profit from standard activities is recognized as other income.
Features of accounting
According to Chapter 34 of the Civil Code of the Russian Federation, the type of investment under consideration is fixed assets that are leased by an organization for the purpose of making a profit over a certain period of time.
In accordance with the law, they must be reflected in accounting and reporting.
Reflection
It is necessary to review the Instructions for Use to determine which of them indicates the profitable investments of the enterprise. For this purpose the eponymous score 03, where they are accounted for at initial cost, formed in accordance with the requirements used in the process (clause 8 of PBU 6/01).
Analytical accounting of the account must be maintained depending on the type of object and the tenant of the property.
The objects under consideration are carried out in accordance with the general procedure established for fixed assets (section III of PBU 6/01). Depreciation is displayed on account 02 of the same name.
According to the order of the Russian Ministry of Finance, separate accounting rules are established for the type of investment in question, which is the subject of a leasing transaction.
The organization's income-generating investments are reflected at their book value. They are brought in included in non-current assets in line 1160 of the same name. It is worth noting that information about them should be fully disclosed in the explanation of financial results section.
Write-off
Investments made by an enterprise for the purpose of making a profit are subject to write-off from the balance sheet in the cases established for all categories of fixed assets. The need for this procedure arises when property is disposed of from the company's ownership. Also, write-off occurs when material assets lose their ability to bring economic benefits to the company, regardless of the reasons.
Income and expenses received from writing off fixed assets from accounting are also subject to crediting. For this purpose, the profit and loss account is used. They are indicated as other income and expenses in accordance with clause 31 of PBU 6/01.
In order to account for the disposal of fixed assets, the company needs to open a sub-account with the corresponding name in account 03.
Its credit indicates the amount of accumulated depreciation, and its debit indicates the value of the written-off property. After the disposal procedure is completed, the residual value must be written off from account 03. Then it is transferred to account 91, which reflects other income and expenses.
Entrepreneurs and accountants should take into account that a specific method for accounting for the disposal of fixed assets must be established in the company in the section for accounting purposes in accordance with clause 7 of PBU 1/2008. By specifying a suitable method, the accounting procedure can be significantly simplified. This procedure should be carried out by an experienced specialist who is able to perform it at a professional level and is familiar with innovations in legislation.
Posting examples
To familiarize yourself with the topic in more detail, it is worth considering a specific example.
An enterprise purchases a car for the purpose of renting it out. Its cost was 1,500,000 rubles, VAT – 270,000. The vehicle was purchased through an intermediary, whose services cost 20,000 rubles, VAT – 9,600. An employee of the organization was sent on a business trip to carry out the purchase/sale transaction and subsequent delivery of the car. Costs amounted to 3,000 rubles, VAT – 540 rubles.
The accountant must reflect transactions aimed at acquiring an object with the following entries:
| Debit | Credit | Amount, rubles | Note |
|---|---|---|---|
| 19 | 60 | 270 000 | VAT on car |
| 08-4 | 60 | 1 230 000 (1 500 000 – 270 000) | expenses for purchasing a car |
| 16 | 60 | 9 600 | VAT for intermediary services |
| 08-4 | 60 | 10 400 (20 000 – 9 600) | expenses associated with purchasing a vehicle |
| 19 | 71 | 540 | VAT on expenses incurred for an employee’s business trip to purchase a car |
| 08-4 | 71 | 2 460 (3 000 – 540) | travel expenses |
| 68 | 19 | 280 140 (270 000 + 9 600 + 540) | accepted for deduction of VAT on the cost of purchasing a car |
| 03 | 08-4 | 1 242 860 (1 230 000 + 10 400 + 2460) | car cost |
This example allows you to understand how the accounting procedure is carried out using the example of a company purchasing a car, which occurs quite often.
This line reflects information about fixed assets accounted for in accounting in account 03 “Profitable investments in tangible assets.” On the issue of reflecting in the Balance Sheet unfinished capital investments in fixed assets, including those subject to subsequent acceptance for accounting on account 03, there are currently two positions.
According to the first position, the amount of unfinished capital investments in objects that will subsequently be accepted for accounting on account 03 is included in the indicator of line 1160 and is reflected separately on one of the lines deciphering the indicator of this line.
The second position is that information about unfinished capital investments is not reflected in line 1160 “Profitable investments in tangible assets.” This information can be reflected in section. I “Non-current assets” according to a separate line independently entered by the organization, and if the indicator is not significant - according to line 1190 “Other non-current assets”.
Let us note that when deciding on the issue of reflecting in the Balance Sheet unfinished capital investments in profitable investments in tangible assets, it is advisable to apply a unified approach to reflecting all types of investments in non-current assets.
What fixed assets are taken into account on account 03?
As part of income-generating investments in material assets on account 03, fixed assets are taken into account that are intended exclusively for provision by an organization for a fee for temporary possession and use or for temporary use in order to generate income (including under leasing, rent, rental agreements) (p.p. 4, 5 PBU 6/01, clause 3 of the Instructions on the reflection in accounting of transactions under a leasing agreement).
At what cost are profitable investmentsAre material assets reflected in accounting?
Fixed assets that are accounted for on account 03 as part of profitable investments in tangible assets are taken into account at their original cost, which is determined in accordance with paragraphs 8 - 13 of PBU 6/01.
The initial cost of fixed assets is repaid by depreciation. The amounts of depreciation accrued on fixed assets are reflected in account 02 “Depreciation of fixed assets” according to the corresponding analytics.
What accounting data is used?when filling line 1160“Profitable investments in material assets”?
This line of the Balance Sheet indicates the residual value of income-generating investments in tangible assets as of the reporting date, as well as as of December 31 of the previous year and as of December 31 of the year preceding the previous one (clause 35 of PBU 4/99, clause 49 of the Accounting Regulations and accounting statements, Letter of the Ministry of Finance of Russia dated January 30, 2006 N 07-05-06/16). The residual value of fixed assets accounted for as part of income-generating investments in tangible assets is determined as the difference between the balance of accounts 03 and 02 (taking into account revaluation, if any).
Provided that the organization has decided to separately reflect unfinished capital investments on a separate, independently entered line in section. I "Non-current assets".
The organization may decide to include the value of unfinished capital investments in profitable investments in tangible assets in the indicator of line 1160 “Income-generating investments in tangible assets” with a separate reflection of this value in the line detailing the indicator of line 1160. In this case, in addition to the residual value of income-generating investments in material assets line indicator 1160 forms debit balances in accounts 08 “Investments in non-current assets” and 07 “Equipment for installation” in the part related to profitable investments in material assets.
Attention!
An object subject to accounting is classified at the time of its recognition based on compliance with established criteria for asset types. Therefore, information about fixed assets whose remaining useful life at the reporting date is 12 months or less cannot be disclosed in Section. II “Current assets” and should be included in section. I Balance Sheet (Letter of the Ministry of Finance of Russia dated December 19, 2006 N 07-05-06/302).
Attention!
If the organization also has fixed assets accounted for on account 01, then from the balance of account 02 it is necessary to exclude the depreciation amounts accrued on these objects (for more details, see section 3.1.1.5.1 “What is included in fixed assets on account 01”).
Line 1160 “Income-earning investments in tangible assets” = Debit balance on account 03 - Credit balance on account 02 (excluding depreciation on fixed assets recorded on account 01)
In general, the indicators in line 1160 “Income-generating investments in tangible assets” as of December 31 of the previous year and as of December 31 of the year preceding the previous year are transferred from the Balance Sheet for the previous year.
The “Explanations” column provides an indication of the disclosure of this indicator (paragraph 2 of clause 28 of PBU 4/99).
Example of filling line 1160"Profitable investments in material assets"
The organization decided to separately reflect unfinished capital investments on a separate, independently entered line in section. I “Non-current assets”, and in case of insignificance of the indicator - on line 1190.
Indicators for accounts 03 and 02 in accounting: rub.
Fragment of the Balance Sheet for 2013
Solution
The residual value of fixed assets included in income-generating investments in tangible assets is:
A fragment of the Balance Sheet in Example 1.6 will look like this.
Introduction
accounting income material value
As a result of their economic activities, enterprises and organizations make profits and also incur certain losses. For a more complete picture of the results of economic activity, the current financial situation and development prospects of an enterprise or organization, along with reporting prepared in accordance with legal requirements, accounting employees for internal use can prepare reporting in accordance with the generally accepted international approach - standards. The preparation of financial statements of a legal entity in accordance with International Financial Reporting Standards is a serious competitive advantage and allows users to provide objective and complete information regarding the financial performance of an enterprise or organization for the reporting period.
Socio-economic transformations contribute to the emergence of new accounting objects, which necessitates the study of their economic essence and the development of certain accounting methods. Recently, there has been an active reform of the domestic accounting system, which, undoubtedly, should put accounting at a higher level. However, it should be noted that there are still quite a few various questions related to the existence of certain problems. An example of this would be the accounting of profitable investments in material assets, which appeared relatively recently, approximately since 2004. Considering that currently the activities of organizations related to the acquisition or creation of real estate for the purpose of their subsequent transfer to operating lease have become widespread, there is a need to consider issues related to these operations.
1 Theoretical justification for profitable investments in material assets
1.1 Accounting for profitable investments in material assets
Account 03 “Income-generating investments in tangible assets” is used to account for the presence and movement of an enterprise’s investments in assets intended specifically for temporary use (rent, rental, leasing) for the purpose of generating income.
Depreciation on income-generating investments is carried out similarly to depreciation of fixed assets, i.e. is accounted for separately on account 02.
The disposal of income-generating investments is reflected similarly to the disposal of fixed assets.
Account 03 in relation to the balance is ACTIVE.
By debit the actual cost of profitable investments is reflected.
By loan the disposal (sale, write-off, partial liquidation, gratuitous transfer, etc.) of material assets is reflected.
03.1 “Property transferred for rent”
03.2 “Leased property”
03.3 “Property leased”
03.9 “Disposal of profitable investment objects.”
Profitable investments in material assets are investments in the acquisition of property intended for rent and rental. Property can be leased or rented with the right to purchase after the end of the lease term (rental agreement) or on the terms of return to the owner of the property.
Investments in the acquisition of property intended for rent and rental are accounted for in account 03 “Income-generating investments in material assets.” This account is intended to summarize information about the availability and movement of the organization’s investments in part of the property, buildings, premises, equipment and other valuables that have a tangible form, provided by the organization for a fee for temporary use in order to generate income.
Material assets intended for rent and rental are accepted for accounting on account 03 from the credit of account 08 “Investments in non-current assets” at their original cost, based on the actual costs incurred for their acquisition, including costs of delivery, installation, installation.
The transfer of property for rent (provided that the leased property is recorded on the balance sheet of the owner organization) and for rent are reflected by entries in account 03.
Depreciation is charged for leased and rented property, which is reflected in the debit of cost accounting accounts (20 “Main production”, 26 “General expenses”, etc.) and the credit of account 02 “Depreciation of fixed assets”. The accrued amount of depreciation for the specified objects is taken into account separately from the amount of depreciation for other fixed assets.
Upon disposal of leased and rented property (sale, write-off, partial liquidation, gratuitous transfer, etc.), it is written off from accounts 03 and 02 using the same accounting entries as fixed assets.
To account for the disposal of property accounted for in account 03, a sub-account “Disposal of material assets” can be opened for it. The debit of this subaccount is transferred to the initial cost of the disposed object, and to the credit - the amount of accumulated depreciation. The residual value of the object is written off from account 03 to account 91 “Other income and expenses.”
Accounting entries for the disposal of property intended for rental, and rental items when using the subaccount “Disposal of material assets”:
When writing off property disposed of as a result of natural disasters, the residual value of the property is written off to the debit of account 99 “Profits and losses”. Missing and damaged objects are written off to account 84 “Shortages and losses of material assets.”
Analytical accounting for account 03 “Profitable investments in material assets” is carried out by type of material assets, tenants and individual objects of material assets.
Account 03 “Profitable investments in material assets” corresponds with the accounts:
1.2 Legal regulation of profitable investments in material assets
Order No. 147n introduced a number of changes to Section I “General Provisions” of PBU 6/01. Let us recall that this section provides characteristics of fixed assets and provides mandatory conditions that must be met by assets included in fixed assets.
Paragraph 2 was excluded from PBU 6/01. It stated that this Accounting Regulation also applies to profitable investments in tangible assets. The presence of this norm led to the fact that profitable investments were perceived as a separate category of property, different from fixed assets.
But do not rush to the conclusion that profitable investments in material assets are now completely separated from fixed assets. On the contrary, this category of assets was placed on a par with other fixed assets. This is evidenced by the amendments to paragraph 4 of PBU 6/01. Thus, now the composition of fixed assets also includes those assets that are intended to be provided for a fee for temporary possession and use or for temporary use. Other mandatory criteria for accepting assets for accounting as fixed assets remain the same. Thus, profitable investments in material assets have become full-fledged “brothers” of fixed assets.
In accounting and financial reporting, profitable investments in tangible assets should still be reflected separately. Now this requirement is enshrined in paragraph 5 of PBU 6/01. True, only those profitable investments that are intended exclusively for provision for a fee for temporary possession and use or for temporary use are taken into account separately. Let us recall that to account for these assets, the Chart of Accounts provides for account 03 “Income-generating investments in tangible assets.” And in the balance sheet they are reflected in line 135 of the same name.
We are talking about property acquired by an organization specifically for leasing, rental or rental. But if the property is leased only from time to time, or not the entire property is leased (for example, only part of the building), then it must be accounted for as a regular fixed asset - on account 01 and on line 120 of the balance sheet.
An organization that has fixed assets accounted for as part of profitable investments in tangible assets is required to disclose significant information about such property in its financial statements. This norm is added to paragraph 32 of PBU 6/01. But this amendment is of a clarifying nature. It was previously required to disclose such information in financial statements. The balance sheet provides line 135 for this, and in form No. 5 “Appendix to the Balance Sheet” there is a separate table for deciphering information about profitable investments in material assets.
Organizational property tax
According to the changes made to PBU 6/01 by order of the Ministry of Finance of Russia dated December 12, 2005 No. 147n, profitable investments in material assets have been classified as fixed assets since 2006. In this regard, the procedure for forming the tax base for corporate property tax is changing. From now on, fixed assets objects recorded as part of income-generating investments in tangible assets on account 03, that is, objects acquired for rental and leasing, become subject to taxation under corporate property tax.
The new rules for accounting for inexpensive fixed assets apply only to property that was accepted for accounting after January 1, 2006.
Depreciation of fixed assets
Order No. 147n of the Ministry of Finance of Russia introduced a number of changes to Section III of PBU 6/01, which regulates the procedure for calculating depreciation on fixed assets.
Objects subject to depreciation
Since 2006, housing facilities (residential buildings, dormitories, apartments, etc.), external improvement facilities and other similar facilities (forestry, road construction, specialized navigation facilities, etc.) have been excluded from the list of fixed assets not subject to depreciation. etc.), as well as productive livestock, buffaloes, oxen and deer, perennial plantings that have not reached operational age.
This amendment is due to established practice. Thus, industrial, administrative and office buildings cannot be put into operation until the adjacent territory is landscaped. Consequently, such costs for external improvement objects can be fully classified as depreciable fixed assets.
With regard to housing assets listed as part of income-generating investments in material assets (account 03), paragraph 17 of PBU 6/01 makes a special reservation: depreciation on them should be calculated in the general manner. Note that this rule applies not only to the housing stock recorded on account 03. All housing stock objects that are used in the commercial activities of the organization and are capable of bringing it economic benefits (income) are subject to depreciation.
In conclusion, let us pay attention to this point. In connection with the amendments to PBU 6/01, accountants should be careful when working with the Methodological Guidelines for Accounting for Fixed Assets. From 2006 until the relevant amendments are made, this document is applied to the extent that does not contradict the new standards of PBU 6/01.
Thus, in order to organize the correct accounting of material assets in an enterprise, it is necessary to follow legal regulation. Maintaining accounting records of material assets is carried out in accordance with regulatory documents that have different statuses. Some of them are mandatory for use (Law “On Accounting”, accounting regulations), others are advisory in nature (Chart of Accounts, guidelines, comments).
2. Organizational, legal and economic characteristics of the enterprise SEC “Krasny Ural” of the Kiginsky district
2.1 Organizational and legal characteristics of the SEC “Red Ural” of the Kiginsky district
SEC "Krasny Ural" - the main goal of which is to make a profit. As an economic entity, this enterprise is a producer of goods and services. The enterprise also helps solve the employment problem.
SEC "Krasny Ural" in its activities is guided by current legislation and bears full responsibility for observing the interests of the state, citizens, and fulfilling its obligations.
The organizational and legal form of the enterprise SPK "Krasny Ural" is a production cooperative, i.e. This is a voluntary association of citizens for joint production activities. Form of ownership – private, grain and livestock farming type of activity. The main part of the region's territory is located in the aisles of the Priai ridge-undulating plain, the south-eastern part is occupied by the advanced ridges of the western slope of the Urals. The region is part of a cool-temperate, humid agro-climatic region with a short frost-free period.
2.2 Economic characteristics of the Krasny Ural agricultural production complex in the Kiginsky district
SEC "Red Ural" of the Kiginsky district is located in the sand-steppe part of the Kiginsky district in the village of Elanlino. The direction of specialization of the economy is cattle breeding and grain.
Kiginsky district is located in the northeast of the republic, bordering the Chelyabinsk region. Formed in 1930. The area of the region is 1685 km2. The regional center is the village of Verkhnie Kigi, located 294 km from Ufa. Population 20 thousand people. Average population density 12 people. per km2. There are 41 rural settlements in the region. The largest of them are Verkhniye Kigi, Nizhnii Kigi, Leuza, Elanlino. Bashkirs and Tatars predominate.
The main part of the region's territory is located within the Priai ridge-undulating plain, the south-eastern part is occupied by the advanced ridges of the western slope of the Urals. The region is part of a cool-temperate, humid agro-climatic region with a short frost-free period. Along the southwestern and northwestern outskirts of the region flow the rivers Ay with the tributary Alla-Elga, Kigi - with the tributaries Leuza and Kese-Ik. Chernozems and dark gray forest soils, slightly podzolized, are widespread. Mineral resources are represented by deposits of clay and loam, waste sand, sand and gravel mixture, limestone, building stone, grindstone. There are peat bogs. 43 thousand hectares (22.5% of the district’s territory) are covered with forest. Agricultural land occupies 93.7 thousand hectares, including arable land - 67.7 thousand hectares, pastures - 15.2 thousand hectares, hayfields - 10.4 thousand hectares. The main industry in the region is agriculture. The Birsk-Mesyagutovo-Satka and Verkhniye Kigi-Novobelokatay highways pass through the area. There are 31 secondary schools in the district, including 16 secondary schools; vocational school, 22 public libraries, 30 club institutions, central district and 2 rural district hospitals.
The village of Elanlino was founded in 1756, the distance from the regional center is 25 km, there are 854 people, 316 households, there is the Krasny Ural agricultural enterprise, which is engaged in crop production and livestock farming, where 60 people work. There are six retail stores in the village, employing 11 people. In the private sector there are cattle - 590 heads, sheep of all breeds - 465, horses - 48, poultry - 1269 and bee colonies - 78.
In agriculture, land is the main and main source of production. Therefore, the rational use of land resources is vital for the economy. Let's look at the structure of land over the past three years.
Table 2.1 Composition and structure of land
| Index | Area, ha | |||
| Total land area | ||||
| Incl. agricultural land | ||||
| of which is arable land | ||||
| hayfields | ||||
| pastures | ||||
| Other lands | ||||
Conclusion: the total land area increased in 2009 compared to 2007 by 1417.1 hectares due to an increase in pastures, which amounted to 1.45%
Compared to 2007. Agricultural land accounts for 15.81%, of which arable land accounts for 204.09%. This is a very good indicator, since it means that most of the land resources are used more efficiently, i.e. used for growing grains, legumes and other crops. They also increased hayfields and pastures by 1.00%.
The main source of society's wealth and the main factor in creating the material and spiritual benefits of humanity is labor. It is a purposeful human activity aimed at modifying and adapting natural objects to satisfy one’s needs.
Labor resources are an important factor, the rational use of which ensures an increase in the level of agricultural production and its economic efficiency. Let us consider the composition and structure of the use of labor resources
Table 2.2 Number and composition of labor resources
| Number, people | 2009 compared to 2007, % |
|||||
| By organizing everything | ||||||
| incl. employed in agricultural production | ||||||
| incl. permanent workers | ||||||
| of which: tractor drivers - machinists | ||||||
| machine milking operators | ||||||
| Employees | ||||||
| of which: managers | ||||||
| specialists | ||||||
Conclusion: you can see that the number of workers in 2007 decreased by 66.25% compared to 2009, of which managers by 33.33%, and specialists by 81.81%
Working capital serving the process of circulation of products are circulation funds. These include products ready for sale located in the enterprise’s warehouses; products shipped but not paid for by consumers; enterprise funds; funds in settlements.
Let us consider the composition and structure of the use of working capital in the Krasny Ural SEC.
Table 2.3 Composition and structure of working capital
| Name | Growth rate of indicators in 2009 compared to 2007, % |
|||
| Including: raw materials, materials, etc. | ||||
| animals for growing and fattening | ||||
| costs for unfinished production | ||||
| Accounts receivable | ||||
| Cash | ||||
Conclusion: most working capital indicators have increased. In 2009, compared to 2007, the amount of inventories increased by 119.41%, accounts receivable decreased by 73.07%
Fixed assets – These are means of labor that are repeatedly involved in the production process, while maintaining their natural form, and their value is transferred to the manufactured products in parts, as they wear out. These include labor equipment with a service life of more than a year.
Table 2.4 Composition and structure of fixed assets
| Type of fixed assets | Average annual cost, thousand rubles. | 2009 to 2007, % |
||
| Structures, transmission devices | ||||
| Machines, equipment | ||||
| Vehicles | ||||
| Draft livestock | ||||
| Productive livestock | ||||
| Other types of fixed assets | ||||
Conclusion: compared to 2009 and 2007, the following can be seen: buildings decreased by 2.2%, structures decreased by 3.3%, equipment increased by 18.2%, vehicles increased by 27.4%.
3. Accounting for profitable investments in material assets
3.1 State of accounting and analytical work of SEC “Krasny Ural”
In SEC "Krasny Ural" the responsibility for organizing accounting in the organization and compliance with the law when carrying out business operations lies with the head of the enterprise. In our company, the director established an accounting service as a structural unit headed by the chief accountant. In connection with this, our company employs five accounting employees, including the chief accountant.
Accounting responsibilities include:
· ensuring the correct organization of accounting in accordance with instructions and individual instructions;
· carrying out preliminary control over the timely and correct execution of documents and the legality of transactions;
· control over the correct and economical expenditure of funds in accordance with their intended purpose according to approved cost estimates, as well as over the safety of funds and material assets;
· calculation and payment of wages to workers and employees on time;
· timely execution of settlements arising in the process of executing estimates with enterprises, institutions and individuals;
· participation in the inventory of funds, payments and material assets, timely and correct determination of inventory results and their reflection in accounting;
· instructing financially responsible persons on issues of accounting and safety of valuables in safekeeping;
· preparation and submission of financial statements in a timely manner;
· drawing up and agreeing with the head of the enterprise cost estimates and calculations for them;
· storage of accounting documents, accounting registers, machine diagrams, cost estimates, calculations for them, other documents, as well as submitting them to the archive in the prescribed manner.
The chief accountant reports directly to the head of the organization and is responsible for the formation of accounting policies, accounting, and timely submission of complete and reliable financial statements.
The chief accountant is obliged to:
· ensure the maintenance of accounting records in full compliance with the “Regulations on Accounting and Reporting in the Russian Federation”, the chart of accounts and the Instructions for its application (approved by order of the USSR Ministry of Finance dated November 1, 1991 No. 56) and other current regulations in the field accounting methodologies;
· ensure timely and complete submission of the necessary reporting to interested users in accordance with current legislation;
· guided by the established Chart of Accounts, develop a Working Chart of Accounts to reflect the necessary commercial and financial and economic transactions;
· establish the necessary system of accounting registers and determine their list;
· carry out analysis of financial and economic activities in order to identify and mobilize on-farm reserves;
· evaluate the actual use of identified reserves.
It is advisable to coordinate with the chief accountant the appointment, dismissal and relocation of financially responsible persons (cashiers, etc.).
The chief accountant of SEC "Krasny Ural" is prohibited from accepting for execution and registration documents on transactions that contradict the law and violate contractual and financial discipline. The chief accountant informs the head of the organization in writing about such documents and, upon receiving a written order from him to accept these documents for accounting, executes it. The head of the organization bears full responsibility for the illegality of transactions performed.
For failure to fulfill or dishonest performance of his duties, the chief accountant is liable in accordance with current legislation.
The chief accountant is given the right to sign documents that serve as the basis for the acceptance and issuance of inventory and cash, as well as settlement, credit and monetary obligations. The specified documents without the signature of the chief accountant are considered invalid and are not accepted for execution.
The requirements of the chief accountant for documenting business transactions and submitting the necessary documents and information to the accounting department are mandatory for all employees of the SEC.
In case of disagreements between the director and the chief accountant regarding the implementation of certain business transactions, documents on them can be accepted for execution with a written order from the director, who bears full responsibility for the consequences of such transactions.
3.2 Primary accounting of profitable investments in material assets
A primary accounting document is a written certificate of a business transaction that has legal force and does not require further explanation or detail.
Business transactions that are not documented in a primary accounting document are not accepted for accounting and are not subject to reflection in accounting registers.
In accordance with the Resolution of the State Statistics Committee of the Russian Federation dated March 24, 1999 No. 20 “On approval of the procedure for using unified forms of primary accounting documentation” in the unified forms of primary accounting documentation, in addition to forms for recording cash transactions, the organization, if necessary, can enter additional details. At the same time, all details of the approved unified forms of primary accounting documentation must remain unchanged, including code, form number, document name. Removing individual details from unified forms is not allowed.
Changes made must be documented in the relevant organizational and administrative document of the organization.
The formats of the forms indicated in the albums of unified forms of primary accounting documentation are recommended and can be changed in terms of expanding and narrowing columns and lines, taking into account the significance of the indicators, including additional lines and loose-leaf sheets for ease of placement and processing of the necessary information.
If the form of the document to reflect any facts of economic activity is not provided for in the album of unified forms, the primary accounting document can be developed by the organization independently. When developing a document, it is necessary to take into account the requirement of paragraph 13 of Regulation No. 34n, as well as Article 9 of the Law “On Accounting”, which establish certain requirements for the preparation of the document. In particular, the primary accounting document will be accepted for accounting only if it contains the following mandatory details:
· Title of the document. The name contains the content of the business transaction to be reflected in accounting, and the organization’s accountant should not accept for accounting documents with an unclear name or no name at all, and also draw up such documents himself. Unified forms of primary accounting documents contain a “Form Code”, which is a seven-digit document number according to the All-Russian Classifier of Management Activities, which is printed in the upper right corner of the document. An independently developed document may not contain the “Form Code” attribute, however, if the document is processed using computer technology, the presence of this attribute is necessary and the coding system is developed by the organization independently;
· the date of the business transaction specified in the title of the document or in the document itself. The date is written in Arabic numerals as follows: first, the day and month are indicated, represented by two pairs of digits separated by a dot, then the year is indicated by four digits, for example, the date August 4, 2005 will be written as follows: 08/04/2005;
· the name of the organization on whose behalf the document was drawn up, which allows you to determine whether the document belongs to a specific organization;
· meters of business transactions in physical and monetary terms. In general, natural, labor and monetary measures are used in accounting. With the help of natural meters, information is obtained about accounting objects in natural indicators, such as measures of length, weight, area, volume and others. With the help of labor meters, used in combination with natural ones, the amount of labor spent on the production of products, works and services is established, indicators such as labor productivity, compliance with production standards are determined, and wages are calculated using labor meters. The monetary meter is a general one and it expresses all indicators of the financial and economic activities of the organization;
· names of positions of persons responsible for carrying out a business transaction and the correctness of its execution. As a rule, a specific employee of an organization performs one or another type of business transaction on the basis of an established job description, and the indication of the position of the person who performed the transaction serves to control the legality of the transaction;
· personal signatures of these persons and their transcripts (including cases of creating documents using computer technology). In deciphering the signature, you should first put the initials, and only then the surname, for example: I.S. Petrov. If there is no person whose signature must appear on the document, the document can be signed instead by his deputy or the person performing the duties of the absent person; however, documents cannot be signed with a slash before the name of the position.
In addition to the mandatory details, additional details that are not mandatory can be entered into the document, such as document number, address of the organization, basis for a business transaction, and others.
Self-created documents must reliably describe business transactions, provide users with necessary and reliable information, must be convenient for processing and storage, and must not duplicate other primary documents.
The head of the organization, in agreement with the chief accountant, must approve a list of persons who have the right to sign primary accounting documents, while the documents used to formalize business transactions with funds are signed by the head of the organization and the chief accountant or persons authorized by them.
The requirements of the chief accountant for documenting business transactions and submitting the necessary documents and information to the accounting department are mandatory for all employees of the organization. Without the signature of the chief accountant or a person authorized by him, monetary and settlement documents, financial and credit obligations are considered invalid and should not be accepted for execution.
Primary accounting documents must be drawn up at the time of a business transaction, and if this is not possible, then immediately after its completion.
When selling goods, products, works and services using cash register equipment, it is allowed to draw up a primary accounting document at the end of the working day based on cash receipts.
In accordance with clause 2.8 of the Regulations on Documents and Document Flow in Accounting, approved by the USSR Ministry of Finance dated July 29, 1983 No. 105 (hereinafter referred to as the Regulations on Documents and Document Flow No. 105), entries in primary accounting documents must be made in ink, chemical pencil, ballpoint pen paste , with the help of writing machines, mechanization and other means ensuring the safety of these records for the period of time established for their storage in the archive.
Do not use a pencil for writing. The reliability of the information contained in the documents, their timely and high-quality execution, and transmission for reflection in accounting are ensured by the officials who compiled and signed these documents.
The primary accounting document is considered finalized if it is drawn up in the prescribed form, all its details are filled in, blank lines are crossed out, and the document is checked by the organization’s accounting staff.
Let's consider the basic operations for accounting for profitable investments in material assets:
1. Equipment purchased for leasing at original cost has been capitalized.
2. The initial cost of fixed assets leased has increased as a result of revaluation.
3. The initial cost of the property returned from leasing has been written off due to the cessation of its use for these purposes.
4. Equipment used for leasing has been retired:
a) the initial cost of the equipment is written off;
b) the amount of accrued depreciation is written off;
c) the residual value is written off;
5. A fully depreciated object of fixed assets of their composition of material assets is written off as a result of the impossibility of further use.
For the above operations, primary documents are used such as:
1) Certificate (invoice) of acceptance of the transfer of fixed assets (form OS-1);
2) Act of revaluation of fixed assets, order of the manager;
3) Certificate (invoice) of acceptance of the transfer of fixed assets (form OS-1);
4) Certificate (invoice) of acceptance of the transfer of fixed assets (form OS-1);
5) Act on write-off of fixed assets (form OS-4).
3.3 Synthetic and analytical accounting
Synthetic accounting is a generalized accounting of the facts of economic activity in monetary terms. Synthetic accounting is maintained on synthetic accounts (main accounts of the first order). The list of synthetic accounting accounts is located in the chart of accounts. Synthetic accounting is necessary to obtain information that allows you to have a general idea of the availability and movement of funds and their sources - about the financial and economic activities of the organization.
Synthetic accounting is maintained in accounting registers (Main book, journals, orders, etc.). Synthetic accounting data is detailed in analytical accounting.
Analytical accounting is accounting that is maintained in personal, material and other analytical accounting accounts, grouping detailed information about property, liabilities and business transactions within each synthetic account.
Analytical accounting is a system of accounting records that provides detailed information about the movement of economic assets; is built separately for each synthetic account. Unlike synthetic accounting, accounting is carried out not only in monetary terms, but also in physical terms.
Analytical accounting data must correspond to the turnover and balances of synthetic accounting accounts.
Using analytical accounting data, you can monitor the status of stocks of each type of inventory, settlements with each supplier, contractor, worker, debtor, creditor, accountable person, etc.
Analytical accounting for account 03 is carried out by type of material assets, tenants and individual objects of material assets.
Synthetic accounting is carried out in J.-O. No. 13.
Table 3.1 Correspondence of accounts for account 03 “Profitable investments in material assets”
| Business transactions | Account correspondence |
|||
| | Objects of fixed assets intended for leasing or rental have been capitalized | | | |
| | The transfer of profitable investment objects is reflected in accounting: a) for rent b) under a leasing agreement | | | |
| | Objects from tenants and lessees have been accepted for accounting | |||
| | Transfer of leased property to the balance sheet of the lessee: – deregistration of an object: – depreciation write-off: – write-off of residual value: | | | |
| | Write-off of an income-generating investment object: – deregistration of an object – write-off of depreciation – write-off of residual value | | | |
| | A shortage of fixed assets intended for rental was identified | | | |
| | The cost of fixed assets purchased for rental and lost as a result of emergency circumstances has been written off | | | |
3.4 Ways to improve the accounting of profitable investments in material assets
Accounting at an enterprise must be constantly improved in accordance with the changing economic situation.
One of the most important parts of information support for the activities of a modern organization is the use of computers to automate accounting. Accounting consists of labor-intensive operations that take up the accountant’s time, preparing reporting and payment documents of various forms, transferring the same data from one document to another, etc.
A computer program allows an accountant to save time and effort through automation, find arithmetic errors in accounting and reporting, and assess the current financial condition of the enterprise and its prospects. In addition, automated accounting systems can help prepare and save electronically primary and reporting documents, as well as forms of frequently repeated reports and documents with already generated company details.
To improve the accounting of material assets, we propose to automate the accounting of material assets using the “1C: Enterprise 7.7” program for the rational organization of accounting of material assets.
The program "1C: Enterprise" version 7.7 is a powerful universal accounting program of the new generation. It can support various accounting systems, various accounting methodologies, and be used in enterprises of various types of activities. This program implements a certain concept of accounting in an enterprise. The chart of accounts, a set of constants, the structures of reference books and documents, as well as algorithms for constructing reports represent a well-developed accounting system. This system is distinguished, on the one hand, by its integrity, and on the other, by its versatility, which allows it to be used after certain settings in almost any enterprise.
The program supports effective work with various volumes of information, number of jobs, using a variety of computer technology and computer network topologies.
Thus, “1C: Enterprise 7.7” is the instrumental system on the basis of which the concept of flexible automation of all accounting as a whole, as well as accounting of material assets, can be successfully implemented.
Conclusion
The study of the theory and practice of the theory of accounting for profitable investments in tangible assets based on the requirements of international financial reporting standards made it possible to substantiate the main directions for improving the accounting of income-generating investments in tangible assets and determining their economic essence.
The concept of profitable investments in material assets appeared relatively recently in modern accounting methods. From a historical point of view, the concept of profitable investments in material assets can be characterized from various angles. Profitable investments in material assets are investments in various objects or property that have a tangible form, provided by an organization or enterprise for temporary use under rental agreements (leasing), rental or hiring for the purpose of generating income or making a profit. This definition is supported by various economic sources and regulations of the Russian Federation. Income-generating investments in tangible assets are accounted for in account 03 “Income-generating investments in tangible assets.” In the Russian Federation, the reflection and concept of profitable investments in material assets in relation to accounting is noted.
Based on a comparison of the concepts of profitable investments in material assets and investment property, we can conclude that basically these concepts have many similar properties. But the significant difference is that investment property is considered as an investment instrument, the potential income from which consists of two components: rental payments from the possible rental of the property and changes in its initial value over time. Considering that currently the activities of organizations related to the acquisition or creation of real estate for the purpose of their subsequent transfer to operating lease have become widespread, it is necessary to consider the current issues of reflecting the specified property in the financial statements, which are regulated by IFRS 40 “Investment Property”. Owner-occupied property is property in the form of land and (or) buildings (parts of buildings - premises), which the organization disposes of on the basis of ownership or a financial lease (leasing) agreement and which is intended exclusively for the intended use in the production process and ( or) supply of products or for administrative purposes. This property must be reported in accordance with IFRS 16 “Fixed Assets”.
Organizations in the process of carrying out economic activities constantly independently create, acquire from third parties or alienate in favor of third parties a variety of property, which can be classified on various grounds. Each type of specified property has its own characteristics associated with its reflection in the financial statements of the organization. In order to be able to reliably reflect transactions with property in financial statements, it is necessary to have reliable criteria for classifying the organization’s property and to know and successfully apply the features of reporting transactions with each type of property.
Bibliography
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