From January 1, 2019, movable property was exempted from taxation. Due to the changes, it is worth adjusting the accounting of fixed assets in order to calculate taxes faster. Fixed assets in accounting and tax accounting are accounted for according to different rules. To learn how to account for acquisitions and disposals and to correctly include the cost of fixed assets in costs, read this article.
Accounting for fixed assets in 2019: changes
To determine the useful life in 2019, it is necessary to focus on the Classifier approved by Government Decree No. 1 dated 01/01/2002. In 2018, accountants began to use the updated Classification of fixed assets (Government Decree No. 526 dated 04/28/2018). She became even more detailed. Adjustments have appeared in depreciation groups from the second to the tenth.
The amendments will not affect the rules for depreciation of fixed assets if they were acquired and began to be used before 2018. The Ministry of Finance explained that updating classifiers is not a reason to change the useful life and transfer assets from one group to another (letter dated November 8, 2016 No. 03-03-РЗ/65124).
New assets must be written off taking into account changes. If you use a fixed asset (or fixed asset) after January 1, 2018, check whether the depreciation rate has been determined correctly.
For example, in the second group in the “Machinery and Equipment” subsection, officials added fountain and gas lift equipment. Now this is property with a useful life of more than two and up to three years. The same subsection of the ninth group included pontoons and berths. Here the useful life will be over 25 years and up to 30 years. In groups three to ten, the subsections “Structures and transmission devices” were changed (see table).
The Tax Code of the Russian Federation directly provides that the useful life is established in accordance with the Classification. There are now no similar provisions in the legislation relating to accounting.
The accountant must establish the duration of operation independently, guided by the general principles applicable to accounting policies, in particular, the principle of prudence. For example, when establishing the useful life of computers, an accountant will not be able to set it at 10 years. It's too much. A computer can last so long, but business practice, the speed at which technology and software are updated, as well as warranty periods for equipment, do not allow us to confidently assume that an organization will use it for that long. Consequently, when setting such a period, the accountant distorts the financial result of the organization upward, which is unacceptable.
So, the accountant has two possible options for establishing the useful life:
- Independent determination (for example, together with the chief engineer’s service or based on technical documentation);
- Definition in accordance with the Classifier.
In any case, the method of determination must be reflected in the accounting policy.
The accounting policy for 2019 needs to be redone due to amendments to accounting and taxes. In 2019, there were fewer opportunities to bring NU and BU closer together. But there is a reason to get rid of unnecessary subaccounts. UNP has compiled a top list of tasks for working with accounting policies and prepared recommendations that will simplify the work. You can quickly draw up an accounting policy for 2019 in the UNP service siup.site.
It is not difficult to assume that organizations will prefer the Classifier. Besides independent determination may cause complaints from tax authorities, since the duration of service directly affects, for example, the amount of property tax.
From January 1, 2019, movable property was exempt from taxation (Federal Law dated August 3, 2018 No. 302-FZ). Due to the changes, it is worth adjusting the accounting of fixed assets in order to calculate taxes faster. Open subaccounts to account 01 “Fixed Assets”. One is for movable property, the other is to collect data on real estate, which is subject to property tax at the average annual value. If a company has objects for which tax is calculated from the cadastral value, they should be separated into a separate group for accounting.
The federal accounting standard “Fixed Assets” has been prepared, but has not yet been implemented. The standard is based on IFRS. We will determine useful life and calculate depreciation in a new way.
Accounting for transactions for the acquisition of fixed assets in accounting in 2019
What to do if you find that the company is using property, but does not take it into account
Fixed assets are usually acquired by:
- purchases;
- construction or production in-house;
- contributions to the authorized capital of the organization;
- receiving compensation or novation under a contract;
- obtaining as a result of the exercise of the right to pledge;
- acquisitions as a result of concluding a leasing agreement.
Objects are accounted for at historical cost (or PV). In accounting and tax accounting, their PS is formed almost identically. The procedure for determining the initial cost depends on the method of receipt of an asset on the balance sheet (see table).
The rules for forming a PS for accounting purposes are regulated by clause 8 of PBU 6/01, and for tax purposes - by clause 1 of Art. 257 Tax Code of the Russian Federation.
The procedure for forming the initial cost in BU and NU
| BOO | WELL |
| Acquisition of property for a fee | |
| The PV consists of the amount of the organization's actual acquisition costs, excluding VAT and other refundable taxes. | PS is defined as the sum of expenses for acquisition, delivery, and bringing the OS to a state in which it is suitable for use, excluding VAT and excise taxes. |
| Receiving property as a contribution to the management company | |
| PS recognizes the monetary value of the OS agreed upon by the founders. In certain cases, the assessment must be carried out by an independent appraiser. This also includes the costs of delivery and finishing. |
The cost depends on who is the founder of the organization. 1. If a company or individual entrepreneur, then the cost of the fixed assets is determined based on the residual value according to the NU of the transferring party + additional. expenses. If the receiving party cannot document the price of the contributed property, then its value in the NU is recognized as zero. 2. If a physicist, then the price of the OS is equal to the documented costs of their acquisition minus depreciation (if the OS were previously used). |
| Receiving property for free | |
| The fixed assets are recognized at their current market value as of the date of acceptance, increased by the actual costs of delivery and bringing them into a condition suitable for use. |
PS OS is equal to the amount at which the property was valued in accordance with clause 8 of Art. 250 NK. The assessment is carried out based on market prices determined on the basis of the provisions of Art. 105.3 Tax Code, but not lower than their residual value according to the Tax Code of the transferring party. Information on prices must be confirmed by the recipient of the fixed assets either documented or through an independent assessment. |
Methods for including the cost of fixed assets in costs in accounting and tax accounting
Fixed assets transfer their value to costs in several ways:
- Directly, including the cost in the expenses of the current period;
- By calculating depreciation premium;
- By calculating depreciation.
The first method is only suitable for inexpensive objects whose value is within the limit established by law (100 thousand for tax and 40 thousand rubles for accounting).
In NU, part of the initial cost of objects can be taken into account at a time by applying bonus depreciation. In accounting, such a right is not provided, so the organization will have to reflect liabilities in the amount of the depreciation bonus.
The bonus does not apply if objects are not subject to depreciation (for example, land), are received free of charge, are the subject of leasing, or if they are excluded from depreciable property due to transfer to conservation for a period of more than 3 months, transfer to gratuitous use or reconstruction for a period of more than 12 months (provided that the facilities are not in use during reconstruction).
Depreciation charges as a way to transfer the cost of fixed assets to costs
Methods for calculating depreciation
Linear method of calculating depreciation the simplest and does not entail tax differences. Therefore, most taxpayers choose this method.
Although it should be taken into account that from the point of view of calculating property tax, the most advantageous is the method of reducing balance and depreciation based on the sum of the numbers of years of useful use. These methods make it possible to charge depreciation in a larger volume at the beginning of the use of the object.
Example
A mobile belt conveyor was purchased. Price - 5 million rubles. Useful life – 5 years.
With the linear method of calculating depreciation, the residual value of the conveyor at the end of the year will be equal to 4 million rubles. (5 – 5/5), and with the sum of the numbers of years of useful life – 3.3 million rubles. (5 – 5 x 5/(1+ 2 + 3 + 4 + 5))
With the reducing balance method with a coefficient of 3, it is equal to 2 million rubles. (5 – 5 x 100%/5 x 3).
Accrual of depreciation after accrual of depreciation premium
If an organization decides to apply a depreciation bonus, then the amount of monthly depreciation deductions for accounting and tax accounting will be different.
Example
The organization purchased a fully ready-to-use warehouse building belonging to group 8 (property with a useful life of 20 to 25 years inclusive) for 23.1 million rubles (excluding VAT) in January 2019 and put it into operation in the same month. The duration of use for both types of accounting is the same - 25 years.
The organization decided to apply a depreciation bonus of 30%. The depreciation method is linear.
| WELL | |||||
|---|---|---|---|---|---|
| Month | Operation | Debit | Credit | Amount, thousand rubles | Calculation |
| January | Purchase of a building | 08-N | 60-N | 23 100 | - |
| January | Putting the building into operation | 01-N | 08-N | 23 100 | - |
| January | Calculation of bonus depreciation | 20-N | 01-N | 6 930 | 23 100 x 30% |
| February | Depreciation calculation | 20-N | 02-N | 53,9 | (23,100 – 6,930)/(12 x 25) |
| March onwards | Depreciation calculation | 20-N | 02-N | 53,9 | (23,100 – 6,930)/(12 x 25) |
| BOO |
|||||
| January | Purchase of a building | 08 | 60 | 23 100 | - |
| January | Transferring the cost of the building to account 01 when it is ready for operation | 01 | 08 | 23 100 | - |
| January | Accrual of IT for depreciation bonus | 68 | 77 | 1386 | 6,930 x 20% |
| February | Depreciation calculation | 20 | 02 | 77 | 23 100/(12 x 25) |
| February | 77 | 68 | 4,62 | (77-53.9) x 20% | |
| March onwards | Depreciation calculation | 20 | 02 | 77 | 23 100/(12 x 25) |
| March onwards | Repayment of IT for depreciation bonus | 77 | 68 | 4,62 | (77-53.9) x 20% |
Application of coefficients to depreciation rates in accounting and tax accounting
When calculating depreciation, you should also remember about increasing (decreasing) coefficients that can be applied to the basic depreciation rate.
The use of increasing factors leads to a proportional reduction in the useful life, while decreasing factors lead to its increase.
In accounting, the use of increasing factors (not higher than 3) is possible only if the organization calculates depreciation using the reducing balance method. In taxation, special coefficients can be applied to the depreciation rate, calculated both linearly and non-linearly. However, the number of applications of these coefficients is limited. For example, organizations have the right to apply an increased coefficient to the depreciation rate (but not higher than 2) for objects used in an aggressive environment and/or increased shifts (with some restrictions).
Another example. Any organizations have the right to apply an increasing coefficient to objects that have high energy efficiency (not higher than 2) or to funds used only for scientific and technical activities (not higher than 3).
An increased coefficient (not higher than 3) can be used by an organization that has leased property on its balance sheet (only if it does not belong to depreciation groups 1-3).
The use of multiplying factors generally results in temporary tax differences.
Change in the initial cost of fixed assets in accounting
In some cases, the PS of fixed assets already put into operation can be changed. Such cases include:
- Revaluation;
- Reconstruction, modernization, retrofitting;
- Inseparable improvements made by the tenant.
Rules for revaluation of fixed assets in 2019
Revaluation affects the value of funds only in accounting. The results of revaluation are not accepted for tax purposes. Thus, the organization has a tax difference, which it can take into account as a constant in accordance with PBU 18/02.
Revaluation of property affects the tax base for property tax only if the tax is calculated based on the book value.
When deciding to conduct a revaluation, you should take into account the fact that from now on it will have to be carried out regularly. Results are reflected as of December 31 of the year in which it is conducted. The result can be either positive (revaluation) - when the revalued value is greater than the residual value - or negative (discount) - in the opposite case.
Accounting for the results of the initial revaluation in accounting in 2019
Dt 01 Kt 83
Dt 83 Kt 02
this is how the primary revaluation is generally reflected
Dt 91-2 Kt 01
Dt 02 Kt 91-2
and this is his first markdown.
Repeated revaluation in accounting in 2019
Subsequent revaluation and depreciation of property are reflected depending on the previous result of revaluation.
| Primary revaluation |
Repeated revaluation | ||
|---|---|---|---|
| Revaluation | Markdown | ||
| Revaluation |
Dt 83 Kt 01 markdown within the amount Dt 02 Kt 83 previous revaluation |
||
|
Dt 91 Kt 01 markdown in an amount exceeding Dt 02 Kt 91 previous revaluation |
|||
| Markdown |
Dt 01 Credit 91 within the limits of the previous Dt 91 Credit 02 markdown on account 91 |
Dt 91-2 Kt 01 |
|
|
Dt 01 Kt 83 in an amount exceeding Dt 83 Kt 02 the amount of the previous markdown |
|||
In the financial statements, the results of the revaluation are shown in the line “Result from the revaluation of non-current assets not included in the net profit (loss) of the period” of Form 2. In the balance sheet, the results of the revaluation are included in the item “Fixed Assets” in Section I and in the item of revaluation of non-current assets in Section III.
Change in cost and useful life as a result of rework
The PS of fixed assets objects changes as a result of their reconstruction, modernization or retrofitting (RMD). Sometimes it is difficult for an accountant to properly classify changes. Thus, reconstruction and modernization are often confused with major repairs. Although repair differs from RMD in goals and results. The purpose of repairs, both current and major, is to eliminate damage and malfunctions, replace worn-out parts and parts of the funds with similar, but new ones (or used, but working ones). The result of the repair is the restoration of the facility's performance that existed before the repair.
The purpose of RMD is to increase productivity and/or expand the functionality of objects. For example, the machine can now turn out new parts, or new prints can be applied to fabrics.
Work on RMD increases the initial cost of funds both in accounting and tax accounting.
Typically, RMDs also increase the useful life. It can only increase within the limits established for the depreciation group. That is, as a result of RMD, the fixed asset cannot be transferred to another group. If the period does not increase, then depreciation should be continued until the changed original cost is fully repaid.
An organization can also apply bonus depreciation to expenses for RMD in tax accounting.
Costs for RMD are reflected in the following accounting entries:
Debit 08 Credit 60, 76, 10, 70, 71, 69, 23, 21, 41, 43, 20
Debit 01 Credit 08
Accounting for disposal of fixed assets in 2019
Before annual reporting, the company's assets are recalculated. The inventory results are compared with accounting data. This is necessary to avoid distortions in reporting. If tax officials find one amount of material inventory in a warehouse and another in the papers, they will fine the company 10 thousand rubles.
Disposal, regardless of its reasons, is always accompanied by their write-off from the balance sheet. Typically, objects are eliminated as a result of:
- full transfer of their value to costs upon expiration of their useful life;
- sales;
- donations;
- contributions to the authorized capital;
- transfers under a compensation agreement or novation;
- theft;
- write-offs due to loss of their qualities (damage, destruction, spoilage, etc.);
- liquidation;
- transfers under financial lease (accounted for by the lessee), etc.
For tax purposes, the residual value of the disposal property may be an eligible or non-acceptable expense. It all depends on the specific situation.
So, for example, when selling, the residual value of objects will be classified as expenses accepted for taxation, and when transferred free of charge - to non-acceptable expenses.
If an organization receives a loss when selling property, then the latter is accepted to reduce the profit base gradually - during the period remaining until the end of its useful life, starting from the month following the month of sale.
Example
The useful life of a construction hoist is 24 months. It was put into operation in February 2018, and sold in July 2019. The residual value of the lift at the time of sale was 3.5 million rubles, the sale price under the contract (excluding VAT) was 2.8 million rubles.
Thus, the loss on sale amounted to RUB 0.7 million. The period during which the loss will be accepted as expenses for income tax is 24 months - 17 months (from March 2018 to July 2019 inclusive) = 7 months.
The amount of monthly loss included in other expenses over the next 7 months, starting in August 2019, is RUB 0.1 million. (0.7/7 months).
Debit 62 Credit 91-1
Sale of a lift for the amount of 3.3 million rubles, incl. VAT
Debit 91-VAT Credit 68-VAT
VAT on the sales amount in the amount of 0.5 million rubles.
Debit 02 Credit 01
Write-off of depreciation accrued at the time of sale
Debit 91-2 Credit 01
Reflection of the residual value of the lift in the organization’s expenses in the amount of 3.5 million rubles.
Accounting for fixed assets under the simplified tax system: income minus expenses in 2019
The cost of fixed assets is formed from the actual costs of acquiring, constructing and bringing them to a state in which they are suitable for use. When simplified - from the supplier’s price and installation costs (during purchase), or from the cost of contractor services (during construction).
Write-off of the cost of objects as expenses for the simplified tax system
If a simplifier sells property with a useful life of up to 15 years inclusive within three years from the end of the year in which its cost is included in expenses (and property with a useful life of over 15 years - within 10 years), he is obliged to recalculate his base according to the simplified tax system from the beginning operation of fixed assets. In this case, the written-off value of the objects is subject to restoration. Instead, the simplifier charges depreciation.
Accounting for fixed assets in 2017 is carried out according to new rules. In accounting, it is no longer possible to assign useful lives to tax classifications. But the dates may coincide.
Fixed assets can be received by the company upon purchase, as a gift, in the form of a contribution to the authorized capital, and so on. In this article we focused on the first option.
First read the problem - it is given below. Flip through the Chart of Accounts and reflect. After this, make accounting entries and enter them into the accounting register - memorial order.
Finally, read the explanation in the article and check the solution - it is given at the end of the article.
Problem about accounting for fixed assets in 2017 (in accounting)
Noris LLC purchased a woodworking machine for furniture production for RUB 531,000. (including VAT - 81,000 rubles). The machine was delivered by a transport company on the day of purchase, the cost of its services was 17,700 rubles. (including VAT - 2700 rubles). The machine was put into operation on the same day. Primary documents and invoices confirming the costs of purchase and delivery have been submitted to the accounting department.
Your task, as an accountant at Noris LLC, is to determine the initial cost of the machine, as well as to make entries for its acceptance into accounting. To simplify things, let’s assume that settlements with the supplier and transport company have not yet been made. Noris LLC is a VAT payer.
How to find out fixed assets to reflect in accounting
Account 01 records all the company's fixed assets. But to put them in this account, they often have to visit other accounts and wait until their initial value is formed. But first things first.
Every enterprise has things with which people work - machines, machines, buildings, computers and much more. This group of things is called MEANS of labor. It's easy to remember this way. The means of labor form the surrounding ENVIRONMENT of the enterprise. This is what they work AMONG. And what they do to objects of labor (materials).
For accounting purposes, instruments of labor are called fixed assets. They retain their natural shape throughout their entire service life. By the way, this is where their English name comes from - fixed assets.
In accounting, it is important to distinguish between means of labor and objects of labor. That is, what helps people work and what they work on. Machine tools and conveyors on which products are manufactured are fixed assets. And the nails and cement from which it is made are materials. They are taken into account differently than the means of labor.
You probably already guessed that the main difference is the service life. More precisely, in useful life, this is a more correct term. If this period exceeds 12 months, the property can be classified as fixed assets. True, subject to other important conditions.
Useful life is the period during which the fixed asset operates at the enterprise, that is, performs its functions. Do not confuse with shelf life.
Let's say you purchased pens for your accounting department. They can be stored in a warehouse for more than a year. But once you start using them, they will very soon break down and stop helping you with your work. Therefore, they are not classified as fixed assets.
Another thing is a car or a production machine. Its use period is clearly more than a year. This means that we are faced with nothing more than a basic means.
Important!
From January 1, 2017, the useful life of fixed assets is determined according to the rules of paragraph 20 of PBU 6/01. In this case, the deadline for accounting may coincide with the tax
By the way, it happens that the equipment consists of several parts. And each has its own useful life. Let's take a computer assembled from a system unit, a monitor, and so on. Having received the documents for it, the accountant must answer the question: is the difference in the service life of the components significant? If the answer is positive, each part can be taken into account separately. And when negative, all parts are combined into one main means. Which difference is considered significant and which is not is prescribed in the accounting policy.
Initial cost of fixed assets in accounting
Only fixed assets have an initial cost. This concept does not apply to goods, materials and other valuables. This is due to the fact that fixed assets are a special type of property. They last a long time, so they are not written off as expenses immediately, but gradually, in parts. The difference between the original cost and these parts is the residual value.
Now look at the problem statement and imagine yourself as an accountant at Noris LLC. You are holding in your hands documents for the purchase of a woodworking machine. Its cost is 531,000 rubles. (including VAT - 81,000 rubles). But this is not the original cost of the fixed asset. To determine it, additional costs must be added to the purchase price of the equipment. For example, costs of transportation, installation and setup, as well as customs duties (if the property was purchased abroad). As well as any other expenses directly related to either the purchase or bringing the object into working condition.
For accounting and tax accounting purposes, it is important to correctly classify property - classify it as fixed assets or inventories in order to avoid errors in reporting for 2017. This issue is not regulated by law for all situations. The article will help you understand accounting, recognize and correct possible errors.
From the article you will learn:
A separate object and a separate complex
The main means is an object with all fixtures and accessories or a separate structurally isolated object for independent functions. Or it may be a separate complex of structurally articulated objects, which represents a single whole and is necessary for a specific job.
If a complex of structurally articulated objects has a total useful life, record the object as an independent inventory object. The commission on receipt and disposal of NFA decides which category the property belongs to - fixed assets or inventories. The Commission also assigns OKOF.
From January 1, 2017, depreciation groups for fixed assets will be determined using the new OK 013-2014 classifier (SNA 2008).
Formation of the initial cost of fixed assets
According to the Instructions to the Unified Chart of Accounts dated December 1, 2010 No. 157n, institutions use account 101 00 to account for fixed assets in 2017, and off-balance sheet account 01 “Property received for use” to account for leased property.
Fixed assets for accounting and tax accounting in 2017 are accepted at their original cost. According to paragraph 23 of Instruction No. 157n, the price must include the amount of actual costs for the acquisition or manufacture of objects with VAT, which was presented by suppliers.
If the institution is a VAT payer, it can receive a deduction from the amount included in the cost of the property.
Include in the initial price:
- amounts paid to the supplier (seller);
- amounts paid for delivering an object and bringing it into a condition suitable for use (for example, the cost of services of a transport organization, the salary of employees who carried out the assembly);
- the amount of VAT claimed (in cases where the object will not be used in activities subject to this tax);
- the cost of materials consumed by the institution;
- wages and accruals for wages;
- cost of services of third-party organizations - co-executors, contractors (subcontractors);
- other costs that are associated with the facility.
Travel expenses in 2019
Which KVR and KOSGU codes should be used to reflect travel expenses in 2019?
General and other similar expenses are not included in actual investments, except when they are directly related to the production of property.
Sometimes it is necessary to modernize fixed assets listed in the accounting and tax records of an institution in order to improve its characteristics or requirements. In this case, increase the cost in accordance with paragraph 27 of Instruction No. 157n. The useful life of the asset may also change by decision of the commission on receipt and disposal of assets.
Reflect the change in the initial cost in accounting using the following entries:
Depreciation of fixed assets in 2017 in accounting
Depreciation, depending on the value and category of property, is calculated taking into account the features given in the table.
|
Property |
Features of depreciation calculation |
Base |
|
Movable property up to 3000 rub. (except for the library collection) |
No depreciation is charged. |
clause 50 of the Instructions to the Unified Chart of Accounts No. 157n |
|
Movable property from 3,000 to 40,000 rubles. |
Charge 100% depreciation at the time of commissioning |
clause 92 of the Instructions to the Unified Chart of Accounts No. 157n |
|
Library fund up to 40,000 rubles. (except periodicals) |
||
|
Real estate up to RUB 40,000. |
Charge 100% depreciation at once immediately upon accepting the asset for accounting |
|
|
Real and movable property and library collection objects above 40,000 rubles. |
Calculate depreciation monthly |
Depreciation in accounting is calculated on a straight-line basis monthly from the useful life, in the amount of 1/12 of the annual amount. Reflect the amounts of accrued depreciation on the analytical accounts opened to account 104 00 “Depreciation”. This is discussed in paragraphs 84-85 of Instruction No. 157n.
Documentation of accounting
To document transactions with fixed assets in accounting in 2017, use primary accounting documents using standardized forms or with mandatory details.
The forms and guidelines for their use for accounting for transactions with non-fiscal assets were approved by Order of the Ministry of Finance of Russia dated March 30, 2015 No. 52.
Registration is carried out according to documents from suppliers or a receipt order for the acceptance of material assets (non-financial assets) (f. 0504207).
The institution also has the right to establish in its accounting policy the need to draw up an act of acceptance and transfer of non-financial assets (form 0504101) when purchasing fixed assets.
Record the registration of fixed assets in 2017 with the following entries:
In state and budgetary institutions:
Information about the object is reflected in the Inventory card for recording non-financial assets (f. 0504031).
It is opened for each inventory item and filled out on the basis of primary accounting documents. In the card, reflect information about changes in the value of the object, its characteristics, etc. On the reverse side, indicate the individual features, components and information important for identifying the OS.
When mothballing, make a note on the inventory card in section 4 “Information on acceptance, internal movements, disposal (write-off) of fixed assets.”
Write off fixed assets in accounting and tax accounting in 2017 if the objects cannot be operated in the future. Please note that zero residual value with 100% depreciation is not a basis for write-off.
Use write-off statements:
- objects of non-financial assets (except for vehicles) (form 0504104);
- vehicle (f. 0504105);
- soft and household equipment (f. 0504143);
- excluded objects of the library collection (f. 0504144).
Record the disposal with the following entries:
In state and budgetary institutions:
Correcting errors in fixed asset accounting
If the asset was accounted for incorrectly, make adjustment entries and issue an Accounting Certificate (f. 0504833). In it, indicate the rationale for the corrections, the name of the accounting register, its number and the period for which it was compiled, the correspondence of the accounts, the amount of the correction entries.
Make the correction using the “Red Reversal” method or an additional accounting entry to restore objects on the balance sheet.
Transfer of fixed assets from inventories: postings
Let's consider how to transfer property that was erroneously included in inventory into fixed assets.
An example of transferring property from one category to another
In a budgetary institution, two calculators were mistakenly taken into account as part of the Ministry of Health. When preparing the transfer to the operating system, the accountant made the following entries:
In the case of transferring inventory into fixed assets, it is important to remember that depreciation on this asset must be additionally charged.
Verification of fixed assets accounting by regulatory authorities
Accounting for fixed assets is subject to control during most external audits. To avoid problems, it is necessary to avoid errors in accounting or correct them in a timely manner during internal control. Each body has its own inspection methods, which depend on the goals and objectives of control. Let's take a closer look at them.
Chamber of Control and Accounts
If auditors from the Chamber of Control and Accounts (CAC) come to you, then fixed assets acquired or received within the framework of targeted programs will be subject to mandatory inspection.
It will be necessary to prove that the objects are installed and used for the intended purpose provided for by the program. Otherwise, the state-owned institution will be responsible for misuse, and the budgetary or autonomous institution will have to restore budget funds from its own revenues.
An example of incorrect OS usage
A state-owned institution received a computer under a targeted program, which is intended for teaching children. But he was installed in the institution’s accounting department. Auditors identified inappropriate use.
Targeted programs have a limited duration. If OSs remain after completion of the program, they can then be used at the discretion of the institution within the framework of the law.
Prosecutor's office
It is worth preparing with the prosecutor's office to identify unused equipment. Therefore, take inventory of your property in a timely manner and avoid the formal attitude of accounting and financially responsible persons to the inspection.
Using the inventory, identify unused assets, establish the reasons for this and take measures:
- install and put into operation if the object is in working order and can be used;
- transfer equipment to another institution or department;
- repair or prepare for decommissioning.
During the inventory, you can find shortages or surpluses of fixed assets, which can lead to conclusions about theft.
Internal control and others
Many departments have internal departmental control bodies that carry out not only inspections, but also methodological work to improve the professionalism of employees.
Such bodies most often find the following violations in asset accounting:
- shortages or surpluses;
- lack of inventory number;
- accounting for objects with different periods of use as one inventory object;
- accounting for a complex of objects as separate inventory objects;
- incorrect classification of an object into the category of property;
- incorrect depreciation group;
- untimely or incomplete reflection of information about the object in the inventory card (f. 0504031);
- violation of the procedure for decommissioning of objects, including the lack of permission to decommission, as well as expert opinions on the impossibility of repair and further operation.
In accounting and tax accounting, the limit on the value of assets is different. Since 2016, the limit for tax accounting has been increased, and new amendments are expected in accounting.
According to assets, they are depreciable if their limit is over 40 thousand rubles, and they simultaneously have the following characteristics:
- intended for the manufacture of goods, provision of services or work;
- period of use – more than 12 months;
- objects are not for resale to contractors; The goal is to bring benefits to the company.
These criteria have been in effect since 2011 and have not changed to date. In 2017 Amendments to the PBU are expected.
Will soon be named as the Federal Accounting Standard for Fixed Assets. The draft standard was developed by the Accounting Development Fund “NRBU “BMC”.
The Ministry of Finance promises that the standard will be mandatory for everyone no earlier than 2018. As soon as it comes into force, the company will be able to apply it voluntarily. Transition period – 2017. The new standard will be closer to IFRS (International Financial Reporting Standards). According to the project, the cost threshold for assets will disappear. Now, as we have already noted, it is 40 thousand rubles. But from 2018, companies will be able to set a limit on the cost of fixed assets and 100 thousand rubles, thereby making it equal to tax accounting.
With the standard, the company will have the right to independently choose the frequency of depreciation. That is, you can write off the value of an asset once a year or more often. Now depreciation is monthly (). According to the new rules, organizations will also have new responsibilities - at least once a year to check and, if necessary, adjust the useful life of assets. Now, according to the rules of the PBU, you only need to do this if you have reconstructed or modernized the object (). The starting point for calculating depreciation will also change. According to PBU 06/01, it must be accrued from the 1st day of the month following the month in which the fund was registered (). According to the standard - from the day the object is completely ready for use. This can be any day of the week, month, quarter or year.
Limit on the value of fixed assets in tax accounting in 2017
In the new year, in tax accounting, property is considered depreciable if its value exceeds 100 thousand (Article 256 of the Tax Code of the Russian Federation). The new criterion has been in effect for a year, but only for those facilities that have been in operation since 2016. For 2017, the rules will not change, which means that objects less than 100 thousand rubles must be written off immediately, and those more expensive must be depreciated. But here it is important not to get confused about how to write off a low value asset - the price of an asset is up to 40 thousand rubles. Indeed, in 2016, taking into account the new amendments, confusion arose. Due to the fact that in accounting the value of fixed assets remained the same - 40 thousand rubles, companies wrote off the low value immediately - at once, and assets from 40 to 100 thousand rubles - gradually.
The Ministry of Finance in a letter dated May 20, 2016 No. 03-03-06/1/29194 explained that this is incorrect. If an organization writes off assets from 40 to 100 thousand rubles gradually in tax accounting, then the same procedure should be applied to low-value fixed assets. For example, workwear, equipment, inventory, equipment, etc. But one can argue with the position of the Ministry of Finance. After all, the Tax Code of the Russian Federation allows organizations to independently determine how to write off low-value objects. And nowhere are there predetermining rules that the same approach to writing off assets must be used. As a general rule, the company has the right to write off a low value immediately. And if the company gradually takes into account part of the objects, it will overestimate the tax, and not underestimate. In essence, there is no reason to argue with inspectors, but due to the position of the Ministry of Finance, claims from tax authorities cannot be avoided. If you are not ready to argue, then use a single write-off method. There are the following options: consider all assets up to 100 thousand rubles in expenses immediately or gradually.
Evgeniy Malyar
Article navigation
- Accounting for fixed assets
- What does IFRS-16 indicate?
- Accounting entries for fixed assets
- Accounting for depreciation of fixed assets and amortization
- Determination of initial cost
- What determines the service life
- Types of depreciation of fixed assets
- Methods of depreciation of fixed assets in accounting
- Registration of lease of fixed assets
- What postings should the lessor of the fixed asset make?
- OS postings from the tenant's position
- What is the book value of fixed assets
- How to calculate the average annual cost of fixed assets
- Tasks and methods of auditing asset accounting
- What is the difference between tax accounting and accounting?
- Taxation of fixed assets
- Documentation of transactions with fixed assets
- Accounting statements for fixed assets
- Orders relating to fixed assets
- Title documents
- Guidelines for accounting for fixed assets
- Conclusion
According to established practice and due to the requirements of Russian legislation, enterprises must maintain double accounting of fixed assets - tax and accounting. The difference between them exists objectively, and is manifested in many signs. The tasks of accounting and tax accounting are different.
In recent years, the state has done a lot to bring tax and accounting reporting closer together, but it has not yet been possible to merge these forms into one whole. An article about the common features and differences of tax and accounting approaches to accounting for fixed assets.
Accounting for fixed assets
The provisions of PAS 6/01 continue to be in effect in 2019. It is on the basis of this document that certain assets should be classified as fixed assets (FPE). The definition of the term is based on the following criteria:
- Use of the accounted object for production or management purposes. Renting, leasing or transferring on the basis of other contractual forms of temporary use by third parties is also possible.
- The useful life of an asset is a period of one year or more.
- The property is capable of generating profit in the future.
- The property was not purchased for resale.
The cost of an asset is determined by the accounting policy adopted by the enterprise, but the lower limit is set by paragraph 5 of PBU 6/01. All assets worth up to 40,000 thousand rubles are reflected in the balance sheet as inventories.
It is theoretically possible to use other listed characteristics of fixed assets to classify objects as them, but this is, as a rule, not practiced in accounting. An enterprise may be interested in artificially increasing the value of fixed assets if there is a need to obtain a loan or attract investors. In other cases, line 1150 in the balance sheet sets the amount of property tax, which increases the fiscal burden experienced by the company.
Thus, the current provision of PBU 6/01 provides a certain freedom in developing the accounting policy of an enterprise in terms of classifying an asset as fixed assets.
What does IFRS-16 indicate?
In addition to PBU 6/01, when drawing up the structure of fixed assets, an accountant can be guided by another official document.
The IFRS-16 standard provides for the classification of fixed assets into the following types of objects:
- land resources;
- buildings and other structures;
- cars and equipment;
- vehicles (cars, ships, airplanes, etc.);
- furniture and other interior items;
- Office equipment.
Explanation of the abbreviation IFRS - International Financial Reporting Standards.
Accounting entries for fixed assets
All actions performed with fixed assets from the moment they are received by the enterprise and ending with liquidation (writing off from the balance sheet) must be documented. The account involved in each specific operation will be discussed below.
The current chart of accounts provides for postings to fixed assets in accounting. For convenience, they are summarized in a table. Movement accounting involves the following actions in the 1C program (you can also do this in a balance sheet on paper).
| Accounts and sub-accounts | Description of action | Confirmation document | |
| Debit | Credit | ||
| Registration (purchase, construction, production of fixed assets) | |||
| 08 | 60 | Acquisition (purchase) | Invoice from supplier |
| 08 | 68 | Payment of state duty and registration fees | Bank statement |
| 08 | 60 (76) | Payment for delivery, installation, intermediary services and other related costs | Agreements, acts |
| 19 | 60 | VAT reflection | Incoming invoices |
| 68.2 | 19 | Submitting VAT for tax deduction | |
| 01 | 08 | Capitalization of fixed assets. VAT deduction upon purchase. | Act in form OS-1 |
| 60 (76) | 51 | OS payment | Payment order |
| Registration (contribution to the authorized capital) | |||
| 08 | 75 | Reflection of income to the authorized capital | Minutes of the founders' meeting (decision), accounting certificate |
| 01 | 08 | Act in form OS-1 | |
| 20 (23, 25, 26, 29, 44) | 02 | Depreciation calculation | Accounting certificate |
| Balancing (free receipt) | |||
| 01 | 08 | Fixed assets received free of charge are reflected | Certificate from accounting department, gift agreement |
| 01 | 08 | Capitalization of fixed assets | Act in form OS-1 |
| 20 (23, 25, 26, 29, 44) | 02 | Depreciation calculation | Accounting certificate |
| 98 | 91.1 | Monthly write-off of cost to income (in accordance with depreciation) | Accounting certificate |
| Registration (exchange or offset) | |||
| 08 | 60 | Reflection of debt | Mutual offset protocol, exchange agreement, invoice |
| 19 | 60 | VAT reflection | Incoming invoices |
| 01 | 08 | Receipt of fixed assets and its registration | Act in form OS-1 |
| 62 | 90.1(91.1) | Reflection of supplier debt | Exchange agreement, act (for services), invoice (for goods) |
| 60 | 62 | Reflection of barter | Accounting certificate |
| 68.2 | 19 | Submission of VAT for deduction | |
| Revaluation of fixed assets - revaluation | |||
| 01 | 83 | Increase in the value of a fixed asset | Act of revaluation (revaluation) |
| 83 | 02 | Correction of depreciation amount | Accounting certificate |
| Revaluation of fixed assets - markdown | |||
| 91.2 | 01 | Markdown reflected | Inspection report (markdown) |
| 02 | 91.1 | Correction of depreciation amount | Accounting certificate |
| Liquidation of fixed assets due to wear and tear | |||
| 01 (disposal) | 01 | Write-off of original cost | Act in form OS-4, order of the manager |
| 02 | 01 (disposal) | ||
| 91.2 | 01 (disposal) | Reflection of residual value | |
| Deregistration – sale of fixed assets | |||
| 01 (disposal) | 01 | Write-off (original cost) | Act in form OS-1, purchase and sale agreement |
| 02 | 01 (disposal) | Write-off of accrued depreciation | |
| 91.2 | 01 (disposal) | Write-off (residual value) | |
| 62 | 91.1 | Reflection of revenue | Sales contract, invoice |
| 91.2 | 68.2 | VAT is charged on the sale of fixed assets | Outgoing invoice |
| Selling at a loss | |||
| 99 | 91 | Posting for the amount of negative financial result | |
As a rule, the income generated by the sale of a fixed asset is not included in the proceeds from the sale (it is classified as non-operating).
Forms for accounting for fixed assets in a warehouse purchased but not put into operation are reflected in the subaccount “Fixed assets in a warehouse (in stock)” of account 01 “Fixed assets”.
Accounting for depreciation of fixed assets and amortization
During operation, most fixed assets become obsolete. The exception is land resources, the service life of which is unlimited.
Monthly contributions to a special fund intended for updating the OS are made at the initial cost and are called depreciation. Wear calculation is performed based on two main parameters:
- initial cost;
- useful life of the object.
Determination of initial cost
The basis for the initial assessment of an asset related to fixed assets is the documented actual amount spent on putting it into operation. In addition to the purchase price, this concept includes direct costs:
- for delivery;
- preparation of the installation area;
- unloading;
- adjustment;
- overheads;
- other possible actions related to achieving serviceability.
If the fixed asset was purchased on credit, then in most cases it should be taken into account only for the principal amount (body), without interest paid. The exception is situations provided for by IFRS 23.
What determines the service life
The standard service life of the OS cannot be less than a year, but for each object it is determined individually, taking into account several factors:
- passport data and recommendations of the manufacturer;
- expected intensity of operation;
- specifics of maintenance;
- expected obsolescence;
- legal and other regulatory restrictions.
Types of depreciation of fixed assets
Complete or partial loss of a fixed asset’s useful operational properties, and, consequently, its depreciation, can occur for two main reasons:
Physical deterioration
Occurs as a result of exposure to harmful factors acting on an object during its use or storage. This concept includes a set of processes of friction, oxidation and other physical and chemical phenomena that accompany all material objects. The intensity of this type of wear is influenced by:
- rate of operation;
- quality indicators of an object that determine its durability;
- quality of fixed assets;
- external working conditions and technological features of the environment;
- personnel qualifications;
- thoroughness and timeliness of prevention and maintenance.
The degree of physical deterioration is determined by two methods:
- Expert, in which the condition of the object is assessed by specialists who compare objective parameters with reference ones.
- Analytical, taking into account the standard service life.
Obsolescence
It is expressed by a critical decrease in the efficiency of using the OS for commercial purposes due to conceptual obsolescence. A clear example would be the best computer produced in the mid-90s. Even if it has been sitting in a warehouse all the time in a packaged form, it does not meet today's requirements for computing technology.
It is customary to divide obsolescence into two types. The first form is associated with the reduction in cost of replacement analogues. In other words, the same object can now be purchased cheaper. The degree of obsolescence of the first form can be determined using the formula:
Where:
MI1 – indicator of obsolescence of the first form;
OSB – the cost at which an accounting unit is listed on the balance sheet;
SALT is the amount that it will cost to restore or update a fixed asset in current market conditions.
The emergence of obsolescence of the second form is due to the advent of more advanced production methods and technologies. It is theoretically possible to work “the old fashioned way,” but the reproduction of a commercial product becomes less profitable, and its sale poses a problem due to competition.
The degree of obsolescence of a fixed asset of the second form is calculated using a formula expressing the relative increase in the efficiency of new means of production:
Where:
MI2 – obsolescence of the second form;
PNS – productivity of a new means of production in units of measurement accepted at the enterprise (for example, pieces per hour);
PSS is the productivity of the old fixed asset in the same units.
Within the second form of obsolescence there is also a division into subcategories. He can be:
- Partial - if not all of its production value is lost. In some cases, an obsolete facility can be used in secondary process areas or operations with acceptable efficiency.
- Complete – when further exploitation entails losses. The outdated OS is awaiting dismantling and disposal.
- Hidden. There are no new, more productive fixed assets yet, but it is known that their development is underway.
- External. This subtype of obsolescence of the second form manifests itself under the influence of factors independent of the internal policy of the enterprise. For example, the production of manufactured products may be limited or prohibited by a decision of the authorities.
Regardless of the form of obsolescence, it is caused by technological progress. Some intangible assets (software, technical documentation, etc.) are also subject to it.
Methods of depreciation of fixed assets in accounting
Accounting uses four main methods for calculating depreciation, depending on the nature of the asset, legal regulations and its own interests.
At linear method the cost of the asset is written off evenly over its useful life. For example, if a machine is designed to last for five years, then 20% of its original cost will be depreciated each year.
Reducing balance method provision is made for the accrual of annual depreciation at the same percentage as with linear, but for the amount not of the original, but of the residual value. If we take the example of the same machine, then in the first year its cost will also decrease by 20%, but then the process will go slower (in the second year 16% will be written off, that is, a fifth of 80%, etc.). This non-linear method allows you to quickly depreciate fixed assets in the initial period of its operation, and then reduce its share in the cost of the product.
The third method is called "by the sum of numbers", and is based on the addition of numbers in the natural series that form the service life of the object. Despite the long name, it is quite simple. If we take the same example with a machine tool, its depreciation will occur at an accelerated rate in the first years of use:
This means that in the first year, depreciation will be one-third of the original cost. In the second year, 40% will be written off:
This method allows for accelerated depreciation.
And finally, the fourth way is that the cost of the fixed asset goes into the price of the manufactured product proportional to the volume of its output. For example, it is known that on the mentioned machine it is possible to produce 10 million products over its useful life (5 years) without compromising quality. If 5 million units have already been made on it, then it should be depreciated by half.
Paragraph 5 of PBU 6/01 and Article 256 of the Tax Code of the Russian Federation clearly indicate that objects costing less than 40,000 rubles are not subject to depreciation.
Registration of lease of fixed assets
In Russia, the legal aspects of leasing are regulated by Chapter 34 of the Civil Code of the Russian Federation. Business entities can transfer various objects, including fixed assets, for temporary use on a commercial basis. In this case, the lessor remains the owner of the property, and the lessee uses the asset for the period specified in the agreement. The exception is leasing, the terms of which provide for a phased purchase.
What postings should the lessor of the fixed asset make?
As with other business transactions, in this case the relationship between the parties is reflected in accounting. Rented objects become income-generating investments, which, in accordance with the current chart of accounts, is indicated by the posting Dt01 - Kt03.
On account 03, according to PBU 6/01, profitable investments are accumulated.
Income generated by the rental of fixed assets is recorded in accounts 90 and 91 (“Sales” and “Other income and expenses”, respectively). Some features should be taken into account:
- If the rental of fixed assets constitutes the main income of the enterprise, then, based on paragraph 5 of PBU 9/99, it is considered revenue and is accounted for in account 90.
- Account 91 (“Other income”) is used if the business structure has another main source of profit (clause 7 of the same PBU).
The postings reflecting the rental of the operating system are as follows:
| Accounts | Description of action | |
| Debit | Credit | |
| If rent is your main income | ||
| 03 | 08 | Putting the facility into operation. The initial cost is carried out. |
| 03 | 03 | Transfer of OS to tenant |
| 62 | 90 (91) | Receipt of rent payments. |
| 90 | 68 | VAT calculation |
| 20 | 02 | Depreciation calculation |
| If rent is “another type of activity” | ||
| 01 | 08 | Putting the facility into operation. The initial cost is carried out |
| 20-26 | 02 | Depreciation during owner use |
| 01 | 01 | Transfer of OS to tenant |
| 76 | 91 | Rental income (“other income”) |
| 91 | 68 | VAT calculation |
| 91 | 02 | Depreciation of leased fixed assets |
Notes. Depreciation of leased fixed assets is accumulated in account 91, that is, it is included in income, through which it will be possible to restore this asset in the future. Profit tax is charged on the amount of receipts.
The leased object is still listed on account 01 as a fixed asset. It is not transferred to account 03, because the lease provides for temporary use. After the contract expires, the asset can again be used for your own needs.
OS postings from the tenant's position
Leased fixed assets are accounted for in off-balance sheet account 001. The cost of the object is indicated in accordance with the lease agreement.
Capitalization of the leased fixed assets is carried out on Dt001. When returning property, the posting ends at Kt001.
Payment of rent is taken into account as expenses, is included in the cost of the product produced by the tenant and affects the calculation of income tax.
What is the book value of fixed assets
Fixed assets are reflected in the balance sheet at their value, called residual value. The calculation formula is simple:
Where:
O – residual value;
F – initial cost;
S – the amount of accrued depreciation.
In most cases, during operation the book value decreases. After the tax refund, VAT is also deducted from it.
Changes in the initial book value of fixed assets are possible in the following cases:
- completion or reconstruction of real estate, resulting in an increase in the price of the property;
- improvement of the means of production;
- partial liquidation of OS;
- revaluation.
The revaluation or depreciation of fixed assets at an enterprise can be carried out once a year or less often. These actions are justified by supporting documents or bringing the value into line with market realities (indexation).
Modernization and reconstruction of fixed assets at the enterprise in 2019 differ from repairs according to the criterion of changes in the technical and economic indicators of depreciable property. In cases where they increase, this is modernization. If the goal is to restore previous characteristics and properties lost during operation, then repair takes place.
The Federal Law “On Valuation Activities” establishes the following types of value of fixed assets:
- Market – represents the amount required to purchase an analogue, or the price at which it can be easily sold.
- Restoration – the sum of costs necessary to bring the object to the state in which it was at the time of the last assessment.
- Replacement is the same as restoration, but with the use of modern, cost-saving technological advances and also taking into account actual wear and tear.
- Investment - the amount withdrawn in order to attract shareholders, adjusted for the maximum return on financial investments.
- Liquidation – approximately equal to the market one, but slightly lower. At this price, the asset can be guaranteed and quickly sold.
- Recycling - is made up of the cost of useful materials and liquid components generated during the dismantling of an object, minus the costs of disassembly, sorting, etc.
How to calculate the average annual cost of fixed assets
This indicator is needed for filling out Form 11 and other statistical documents, as well as for internal analysis of the dynamics of enterprise development. There are two main methods to determine the average annual cost of fixed assets: simplified and accurate.
As a rule, solving this problem for individual entrepreneurs using the simplified tax system is not very difficult. An individual entrepreneur has valuable assets in spades and everything is in plain sight. For him, this is the average figure between the values at the beginning and end of the year. The difference between the values is due to depreciation. If the OS is sold in a certain month, then this is easy to take into account, if necessary.
In the case of a large company, LLC or CJSC, everything is not so simple. Complex and expensive equipment can be written off or purchased, and this happens unevenly. The most accurate result will be obtained if you perform calculations using the formula:
Where:
SGS – average annual cost of fixed assets;
CH i– cost of fixed assets at the beginning of each month;
CK i– cost of fixed assets at the end of each month;
i– serial number of the month.
The calculation of the average annual cost of the active part is carried out in a similar way, however, in order to isolate it from the total amount of fixed assets, synthetic and analytical accounting is necessary.
Tasks and methods of auditing asset accounting
In order to avoid possible fines for violating the requirements of regulations in force in Russia, enterprises conduct an audit of fixed asset accounting. This event involves monitoring the following facts:
- The fixed assets listed on the balance are available, and their condition corresponds to that indicated.
- Documentary support for operations with fixed assets (receipt, disposal, revaluation, etc.) is carried out correctly.
- Depreciation is carried out properly.
- All taxes have been assessed and paid.
- Objects are classified as OS justifiably.
If a shortage is identified, the auditor reflects it in the reconciliation sheet. The result in the form of an act serves as a guide for eliminating violations. If they are discovered by a government audit, penalties will inevitably be imposed, possibly very severely.
What is the difference between tax accounting and accounting?
The differences between tax and accounting are due to the fact that they are regulated by different regulatory documents.
The Tax Code of the Russian Federation defines its criteria for classification as fixed assets. In the Tax Code of the Russian Federation, the minimum cost in 2019 is set at one hundred thousand rubles (according to PBU 6/01 - 40 thousand rubles)
Thus, non-depreciable property is included in material expenses at the time of commissioning, and the taxpayer sets the time for its write-off independently, based on the expected period of use or other considerations.
But it’s not just the 2019 limit that determines the differences. They appear for the purposes of each of the accounting systems:
- Tax accounting determines the tax base.
- Accounting allows us to judge the effectiveness of a commercial organization.
The discrepancies between tax and accounting approaches to accounting are the topic of a separate detailed study. It is unlikely that they will be completely eliminated in the near future, but work towards rapprochement is constantly underway.
Taxation of fixed assets
The article has already talked about how to capitalize a fixed asset and how to sell it, but one more important issue remains - taxation.
We should start with one of the main fiscal obligations of any commercial entity - VAT.
Value added tax is levied on all transactions involving the acquisition, sale, repair and rental of fixed assets without exception. It is accrued if three necessary conditions are simultaneously met:
- OS was acquired for activities subject to VAT.
- The main facility has been put into operation.
- The purchase of the OS is confirmed by a correctly issued invoice.
If a fixed asset is purchased free of charge, then its cost is included in the income portion. Profit tax is charged on this amount, as well as on the sale of products produced through this operating system.
The sale of a fixed asset in accounting is treated as a sale; 20% VAT is deducted from the proceeds if the seller accepted the tax as a deduction at the time of its acquisition. Otherwise, if the cost of the fixed assets “hangs” on account 01 along with incoming VAT, then the tax should be calculated differently:
Where:
S – the sum of the residual value with commissioning costs
Property tax is calculated on the basis of accounts 01 (“Fixed Assets”) and 03 (“Income Investments”), based on articles of the Tax Code of the Russian Federation and other regulatory documents.
The tax base is the residual value of the object, equal to the original cost plus the costs of putting it into operation minus depreciation made by the actual owner (not the former).
Since the beginning of 2013, accounting for property taxes involves accrual exclusively on real estate items related to fixed assets.
Documentation of transactions with fixed assets
Accounting for fixed assets is based on primary documents and acts. They can be carried out on electronic or paper media in any form, in compliance with the required details. Instructions for accounting - Resolution of the State Committee on Statistics of the Russian Federation No. 7 of January 21, 2003.
Approved forms for primary accounting, to which additions can be made, are listed in the table:
| Form designation | Description of the action confirmed by the act |
| OS-1 | Acceptance or transfer of fixed assets, excluding real estate |
| OS-1a | Acceptance or transfer of real estate |
| OS-1b | Reception or transfer of several operating systems, excluding real estate |
| OS-2 | Internal OS relocation |
| OS-3 | Delivery and acceptance of OS after repair, modernization or reconstruction |
| OS-4 | Write-off of fixed assets, except vehicles |
| OS-4a | Vehicle write-off |
| OS-4b | Write-off of several operating systems, except for vehicles |
| 0С-6 | OS inventory card |
| OS-6a | Inventory card for a group of similar operating systems |
| OS-6b | OS inventory book |
| OS-14 | Receipt of equipment |
| OS-15 | Reception and transfer of installed equipment |
| OS-16 | Equipment inspection and defect report |
Accounting statements for fixed assets
During the entire period of use of the OS, all actions performed with it are covered by reporting. The accounting documents in which it is maintained are listed in the table:
| Document form | Purpose |
| Report on fixed assets | The object is characterized by depreciation group, estimated depreciation, initial and residual value, and capitalization date. Allows you to conduct analytical and synthetic analysis of the state of the operating system in the enterprise. |
| OS log book | Report on the movement of fixed assets, from the moment of registration to disposal. |
| OS accounting book | For enterprises operating under a simplified accounting system, it replaces inventory cards OS-6 and OS-6b. Filled out just like them. |
| OS comparison sheet (form INV-18) | Recording differences between inventory results and accounting data. Shortages are indicated by the sign “-”, surpluses by “+”. |
| Certificate of book value of fixed assets | Contains information about the book value of fixed assets at the time of the last report. May be for a third party or an internal sample. The OS balance sheet is requested by banks when considering a loan application. |
Orders relating to fixed assets
Due to the importance of fixed assets for each enterprise (they form the basis of its financial solvency), all actions with them (write-off, conservation, inventory, modernization, etc.) are formalized by orders of the organization’s top manager. They are completed on standard forms (additions are allowed). It is necessary to indicate the reason for this or that action (justification) and other details provided by the form.
Each of the orders is recorded in the INV-23 journal.
Sample order for fixed assets, in this case their inventory:
Download
Members of the inventory commission can be listed in the text of the document indicating their full names and positions or appointed by a separate order.
A sample order for creating a commission for OS inventory can be downloaded from the link:
Download
Title documents
Documents for the purchase of fixed assets are, as a rule, stored not in the accounting department, but with the chief lawyer, but they are also related to accounting. This is confirmation of the legal ownership of the OS.
For example, a purchase and sale agreement looks like this:
Download
An enterprise can also own property on the basis of agreements of gratuitous transfer, exchange and other title documents.
Guidelines for accounting for fixed assets
The procedure for accounting for fixed assets is regulated by the fundamental document - “Methodological guidelines for accounting of fixed assets”, approved by Order No. 91n of the Ministry of Finance of the Russian Federation dated October 13, 2003.
In addition, internal standards of the enterprise are also practiced, established within the limits of legislative restrictions. In particular, the accounting policy is determined by a special order, which once and for all (as long as the organization exists) specifies the rules for accounting, tax and financial reporting.
According to Article 1 of the Accounting Law, accounting policies are the principles, methods and procedures used by an enterprise in the process of preparing financial statements.