The balance sheet of the organization should reflect its financial position as of the reporting date (clause 18 PBU 4/99). To do this, at the date of reporting, the balance sheet should show, among other things, all the assets of the organization. We will tell you about how to show fixed assets in the balance sheet in our consultation.
Fixed assets as a long-term asset
Recall that in the balance sheet, assets and liabilities, depending on the maturity (repayment), should be divided into short-term and long-term. As short-term assets and liabilities should be presented in the balance sheet, the maturity (maturity) for which is not more than 12 months after the reporting date or the duration of the operating cycle, if it exceeds 12 months. The remaining assets and liabilities are shown in the balance sheet as long-term (clause 19 PBU 4/99).
Fixed assets (PP) are long-term assets, because one of the conditions for recognizing an asset as an asset is that the asset is intended for use over a period of more than 12 months or a normal operating cycle if it exceeds 12 months (clause 4 PBU 6/ 01).
In the balance sheet, long-term assets are otherwise referred to as non-current assets. Along with fixed assets, non-current assets include intangible assets, long-term financial investments and other long-term assets.
At the same time, it should be borne in mind that even depreciable fixed assets, for which the remaining useful life was less than 12 months, are not classified as short-term assets for the purpose of compiling the balance sheet and are not transferred to current assets.
Balance line for fixed assets and asset valuation
In the balance sheet, the indicators are reflected in the net assessment, that is, minus the regulatory values (paragraph 35 of PBU 4/99). With regard to fixed assets, such a regulatory value is their depreciation. This means that in the balance sheet, fixed assets are shown at their original (replacement) cost, reduced by the depreciation of fixed assets. In other words, in the balance sheet, OS objects are reflected by.
Recall that the initial (replacement) cost of fixed assets is taken into account in the debit of account 01 "Fixed assets", and the accumulated depreciation on them - about the credit of account 02 "Depreciation of fixed assets" (). This means that in order to find the residual value of fixed assets (OS OST) to reflect them in the balance sheet, it is necessary to perform the calculation:
OS OST = Debit balance of account 01 - Credit balance of account 02In the current form of the balance sheet to reflect the organization's fixed assets, line 1150 "Fixed assets" is provided (Order of the Ministry of Finance dated 02.07.2010 No. 66n).
Please note that they are considered to be fixed assets, but those objects that meet the criteria of the OS, which are intended solely for providing for a fee for temporary possession or for temporary use in order to generate income, are taken into account separately. They are accounted for in the debit of account 03 "Profitable investments in material assets" (Order of the Ministry of Finance dated October 31, 2000 No. 94n). But at the same time, depreciation for them is also charged on the credit of account 02. Therefore, if an organization has fixed assets listed on account 03, to fill in line 1150, it is necessary to isolate from the amount of accumulated depreciation that part that falls on fixed assets accounted for in the debit of account 01 Analytical accounting data on account 02 will come to the rescue here.
And that part of depreciation, which relates to profitable investments in material values, reduces the value of such assets. They are also reflected separately in the balance sheet in terms of residual value not in line 1150, but in line 1160 “Profitable investments in tangible assets” (
The balance sheet of an enterprise accumulates all information about the availability of property (assets) and sources of its receipt (liabilities) on a certain date, that is, it reflects the financial condition and demonstrates this information to users. The first section of the balance sheet is devoted to non-current assets, a significant proportion of which are fixed assets. Recall how fixed assets are reflected in the balance sheet by considering a specific example.
What about fixed assets
These assets include property that ensures the process of production and management of the company - buildings, structures, plots of land, perennial plantations, machine tools, equipment, power machines, vehicles, etc. The cost of recorded fixed assets is formed from the costs of their acquisition (manufacturing), and is gradually repaid by monthly depreciation. This is carried out by one of the methods chosen by the company and enshrined in the accounting policy (clause 48 of PBU dated July 29, 1998 No. 34n):
diminishing balance;
by the sum of the numbers of years of SPI (useful life);
in proportion to the volume of output (works, services).
Note that not all fixed assets are depreciated. For example, land, nature management objects, road facilities, museum exhibits, housing stock, mobilization funds in conservation, as well as property owned by NGOs are not subject to the traditional depreciation.
According to the degree of liquidity, fixed assets are considered low-liquid assets, since it is often impossible to urgently turn them into means of payment by quickly selling them if necessary.
Fixed assets in the balance sheet and their valuation
Since fixed assets are a long-term asset (with a service life of more than a year) and tend to gradually depreciate during operation, its value also changes at each reporting date, i.e., the assessment of fixed fixed assets changes depending on the revaluations carried out or due to depreciation, unless, of course, it refers to depreciable property. Depreciation is a regulatory indicator that affects the value of fixed assets.
Fixed assets are reflected in the balance sheet at a cost reduced by the amount of accrued depreciation (paragraph 35 of PBU 4/99), i.e. at residual value. In the balance sheet of the company, the assessment of fixed assets is indicated at the residual value: the initial value minus depreciation.
In accounting, the initial (or replacement after the revaluation) cost of fixed assets is recorded in the debit of account 01 "OS", and the amount of accrued depreciation - in the credit of account 02 "Amortization of fixed assets". Accordingly, the residual value is calculated as the difference between the sums of the initial cost and depreciation (D / t 01 minus K / t 02).
In the form of the balance sheet, a separate line 1150 “Fixed assets” is provided to reflect the amount of fixed asset valuation at the reporting date.
Separate accounting on account 03 “Profitable investments in material values” is subject to leased objects of fixed assets. Depreciation on them is charged in the same way as for all fixed assets on the account. 02, being recorded in the registers of analytical accounting, and the residual value of such property occupies line 1160 “Profitable investments in material value” in the balance sheet.
Example
The company has OS objects presented in the table. Depreciation is calculated on a straight-line basis (initial cost / number of months of service = amount of depreciation per month). The land plot is not subject to depreciation, other objects are depreciated.
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Initial cost as of 01/01/2016 (in rubles) |
Accrued depreciation |
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Plot of land |
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Equipment |
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lathe |
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Total |
6 960 000 |
413 830 |
413 830 |
413 830 |
In the balance sheet in line "1150", the presence of fixed assets will be reflected as follows:
at the beginning of 2016 - 6,960,000 rubles;
at the end of 2016 - 6,546,170 rubles. (6 960 000 - 413 830).
Since January 2017, the company has leased the lathe. The accountant, on the basis of the order of the head, opened a register of analytical accounting, and the cost of the machine in the amount of 308,570 rubles. (360,000 - 51,430) was transferred from account 01 to account 03 and accounted for in the balance line "1160". At the end of 2017, it includes an assessment of the machine in the amount of 257,140 rubles. (308 570 - 51 430);
In line "1150" at the end of 2017, the cost of fixed assets amounted to 5,875,200 rubles. (6 546 170 - 308 570 - 300 000 - 62 400).
On the terms of continuing the lease of the machine in 2018, the following lines were filled in the balance sheet:
"1150" in the amount of 5,512,800 rubles. (5 875 200 - 300 000 - 62 400);
"1160" in the amount of 205,710 rubles. (257 140 - 51 430).
The data of the lines are summed up and reflected as a result for the first section of the balance sheet (line "1100"). For fixed assets in the balance sheet as of December 31, 2018, the entries look like this:
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Name of indicator |
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ASSETS |
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I. NON-CURRENT ASSETS |
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Intangible assets |
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Research and development results |
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Intangible search assets |
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Tangible Exploration Assets |
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fixed assets |
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Profitable investments in material values |
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Financial investments |
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Deferred tax assets |
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Other noncurrent assets |
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Total for Section I |
5 718 510 |
6 132 340 |
6 546 170 |
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The fixed assets of the organization must be taken into account in its balance sheet. For this, a special line is provided - the cost of fixed assets according to the balance sheet (1150).
Line 1150 indicates the residual value of all FC of the organization, formed at the end of the reporting period. To do this, it is necessary to subtract the amount of depreciation accumulated on them from the primary price of the fixed assets of the company, reflected on the 01 account in the debit (it is taken into account on the 02 account in the credit). That is, this line contains the difference between the debit balance of account 01 and the credit balance of account 02.
If there was an additional equipment or reconstruction (as a result of which the initial price of the objects was increased), this must be specified in the annexes to the accounting. balance.
The same applies to the revaluation of property. As a rule, it is carried out once a year. It is carried out by indexing the current value of objects or by recalculating to the actual market price. The resulting differences increase the amount of additional capital.
In one of the letters of the Ministry of Finance, it is reported that the OF, unsuitable for subsequent use, must be written off. Their residual value is included in other costs.
Conditions for classifying an object as a fixed asset
Accounting for fixed assets is regulated by the Regulation "Accounting for fixed assets". In accordance with it, in order to recognize an object as a fixed asset, it must meet the following requirements:
- The object will be used in the production process or in the management needs of the company. Also, it can be intended for rent. It should be noted that the price of objects purchased for lease on the line "fixed assets in the balance sheet" is not reflected.
- The company must use the facility for at least twelve months.
- The initial price of the object is not less than one hundred thousand rubles.
- When a firm buys an object, it does not plan to sell it any time soon.
- In the future, the object will bring profit to the organization.
How the initial price of the object is formed
Fixed assets are reflected in the balance sheet at their original cost - the sum of all expenses for the purchase of an object. These costs include:
- Payment to the seller of the object;
- Transportation costs;
- Expenses for consulting services related to the purchase of an object;
- Customs duties and fees;
- The amount of non-refundable taxes paid upon the acquisition of the object;
- Expenses for state registration of property rights to the object;
- Payment for the services of intermediary firms;
- Other expenses.
Disclosure of information in accounting. reporting
In boo. reporting should disclose the following information:
- On the inventory price of the object, as well as depreciation accrued on it at the beginning and end of the reporting period;
- On the movement of the OF during the reporting period;
- On the methods of valuation of fixed assets that were received under contracts providing for payment in non-monetary means;
- About PF objects, the cost of which is not repaid;
- On changes in the price of fixed assets, at which they were accepted for accounting (revaluation, additional equipment, reconstruction and other situations);
- About OF, rented or leased;
- About the JFS of objects accepted by the company;
- On the methods of calculating depreciation for certain groups of fixed assets;
- About OF, which are taken into account as part of profitable investments in inventories;
- About real estate that was accepted for accounting and is actually operated, but is in the process of state registration. registration.
The average annual total book value of fixed assets (fixed assets, funds) is calculated by accountants for the following purposes:
- preparation of relevant accounting and statistical reporting,
- determination of the property tax base;
- achievement of internal goals of a managerial and financial nature.
The full book value of fixed assets is the original price of the object, which is adjusted for the amount of the revaluation (depreciation). Revaluation may be caused by reconstruction, additional equipment, modernization, completion and partial liquidation.
During operation, fixed assets are subject to wear and tear, while they completely or partially lose their original properties. For this reason, the calculation of the average annual value of fixed assets has an impact on the calculation of residual value.
The residual value is calculated by subtracting the amount of depreciation from the amount of the initial cost.
Fixed assets, as a rule, transfer their value to finished products over a fairly long period, which may include several cycles. For this reason, the organization of accounting is organized in such a way that there is a one-time reflection and preservation of the original form, including price losses over time.
Before considering the formula for calculating the average annual cost of fixed assets, you should consider the classification of fixed assets.
The main production assets (means) include:
- Buildings, which are architectural objects that are designed to create working conditions (garage, warehouse, workshop, etc.).
- Structures that include engineering and construction objects that are used to carry out the transportation process (bridge, tunnel, track devices, water supply system, etc.).
- Transmission devices (electricity transmission, gas and oil pipelines).
- Machinery and equipment (press, machine tool, generator, engine, etc.).
- Measuring devices.
- Electronic computing and other equipment.
- Vehicles (locomotive, car, crane, loader, etc.),
- Tool and inventory.
To calculate the average annual cost of fixed assets, the following formula is used:
C \u003d Spn + (Svv * FM) / 12 - (Svbh FMv) / 12.
Here C mon is the initial cost of the OS,
Svv - the cost of the introduced OS,
Chm - the number of months of operation of the introduced operating systems,
Svb - the cost of retired fixed assets,
Nmv - the number of months of retirement,
The formula for calculating the average annual cost of fixed assets uses all indicators at historical cost, which is formed at the time of acquisition. If the organization had a revaluation of fixed assets, then the cost is taken as of the date of the last revaluation.
The formula for the average annual value of fixed assets according to the balance sheet
The formula for calculating the average annual cost of fixed assets can be calculated according to the balance sheet. This method is used in determining the profitability of the enterprise.
The formula for calculating the average annual value of fixed assets on the balance sheet is the sum of the indicators for the line of the balance sheet "Fixed assets" at the end of the reporting year and at the end of the base year (previous), then the amount is divided by 2.
To calculate the formula, use information from the balance sheet, which covers transactions not only for the period as a whole, but also for each month separately.
The formula for calculating the average annual value of fixed assets according to the balance sheet is as follows:
C \u003d R + (W × FM) / 12 - / 12
Here R is the initial cost of the OS,
W is the cost of fixed assets introduced,
FM - the number of months of operation of the introduced OS,
D - liquidation cost of fixed assets,
L is the number of months of operation of retired OS.
Service assignment. With the help of the online service, the average annual cost of fixed assets, the balance of the movement of fixed assets according to the full initial and residual value are determined.Fixed assets (fixed assets) are non-financial produced assets (part of the property) used by the organization repeatedly or permanently for a long time (more than 12 months) in the production of products (performance of work, provision of services), as well as for management purposes.
TO material relate
objects for which the following conditions are simultaneously met:
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TO material fixed assets (fixed assets) do not apply
:
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Building- these are architectural and construction objects intended for living, working, serving the population and storing material values, having walls and a roof as the main structural parts.
Structures- engineering and construction facilities intended for the implementation of the production process and various non-production functions, such as pipelines, power lines, overpasses, bridges, roads, parking lots, platforms, fences, etc.
cars and equipment- power, working, information devices that convert energy, materials and information.
Transport nye means - vehicles designed to move people and goods.
Full original cost- the value of OPF in prices taken into account when they were entered on the balance sheet.
Residual cost- this is the value of fixed assets in the prices of its statement on the balance sheet, taking into account depreciation AND as of the date of determination.
OPS \u003d PPP - I
Book value of fixed assets at the end of the year:
C.Y. = C n.g. + C in xT 1 /12 - C sel xT 2 /12
where T 1 is the number of full months during which the funds received in the reporting year were in operation; T 2 - the number of full months during which the funds retired in the reporting year did not operate.
Average annual value of fixed assets: C = (C n.a. + C y.a.) / 2
The systematic accumulation of funds in the depreciation fund is ensured by annual depreciation deductions A, included in the cost of manufactured products. Accrual of depreciation charges on fixed assets during the reporting period is made on a monthly basis, regardless of the method of accrual used, in the amount of 1/12 of the calculated annual amount. For newly received objects, depreciation is charged from the 1st day of the month following the month the object was put into operation, and for retired objects it ends on the 1st day of the month following the month until the object is fully repaid or written off from the accounting records in connection with the termination of the right property.
Scheme of the balance sheet of fixed assets of the enterprise at full historical cost
C.Y. = C n.g. + C in - C select
Scheme of the balance sheet of fixed assets of the enterprise by residual value
C.Y. = C n.g. + C new + C vv - C vyb - A
Indicators of the state, movement and efficiency of the use of fixed assets
- PF state indicators.
- Fund depreciation ratio: Kizn = Depreciation / Total Cost
- Equity ratio of funds: Khodn = Residual Value of FA / Full Value
- Indicators of movement (reproduction) of fixed assets
- Admission coefficient = Cost of FA received in a given year / Total cost of FA at the end of the year
- Renewal ratio = Cost of new funds introduced in a given year / Total cost of FA at the end of the year
- Dropout rate = Value of FA retired during the year / Total cost of FA at the beginning of the year
Example #1. The main production assets of the enterprise at the beginning of 1995 amounted to 2825 million rubles. The input and disposal of fixed assets during the year are reflected in the table:
Determine the average annual and output cost of fixed assets (value at the end of the year).
Solution:
Residual value at the beginning of the year: C st. = 2825 million rubles
During the year, the following fixed assets were received:
million rubles
During the year, fixed assets retired:
Cost of retired fixed assets:
million rubles
The cost of fixed assets at the end of the year:
C.Y. = C n.g. + C p - C v \u003d 2825 + 100.833 - 12.333 \u003d 2913.5 million rubles.
C OF = (C n.g. + C c.g.) / 2 = (2825 + 2913.5) / 2 = 2869.25 million rubles.
K update = C new / C to.g. = 170/2913.5 = 5.83%
The share of new fixed assets in their total volume amounted to 5.83%.
K sb = C in / C n.g. = 23/2825 = 0.81%
The share of retired fixed assets during the year in their total value amounted to 0.81%.
Example #2. The following data are available on the movement of fixed production assets of the enterprise:
The full initial cost of fixed assets 420 at the beginning of the year, million rubles.
During the year, million rubles:
new funds introduced 60
retired at residual value 8
Full initial cost of retired funds, million rubles 40
Depreciation of fixed assets at the beginning of the year, % 30
Annual depreciation rate, % 15
It is necessary to build a balance of fixed assets at full and residual value.
Solution:
Full historical cost at the beginning of the year: C n.g. = 420 million rubles
Residual value at the beginning of the year: C st. \u003d 420 * (100-30)% \u003d 294 million rubles.
The value of received fixed assets:
C p \u003d 60 million rubles.
The cost of retired fixed assets at historical cost:
C in \u003d 40 million rubles.
The cost of retired fixed assets at residual value:
C rest in = 8 million rubles.
The cost of fixed assets at historical cost at the end of the year:
C.Y. = C n.g. + C p - C v \u003d 420 + 60 - 40 \u003d 440 million rubles.
Depreciation charges for the year:
A = C x HA \u003d 440 * 15% \u003d 66 million rubles.
Residual value of fixed assets at the end of the year:
From the rest of the year = C rest n.g. + C rest p - C rest in - A \u003d 294 + 60 - 8 - 66 \u003d 280 million rubles.
Average annual cost of funds at historical cost:
C OF = (C n.g. + C c.g.) / 2 = (420 + 440) / 2 = 430 million rubles.
Average annual cost of funds at historical cost:
С ost OF = (C ost n.g. + C ost k.g.) / 2 = (294 + 280) / 2 = 287
The depreciation coefficient shows what part of its total value fixed assets have already lost as a result of their use.
K and n.g. = 30%
K and k.g. \u003d (C k.g. -C rest k.g.) / C k.g. = (440-280)/440 = 36.36%
Depreciation of fixed assets increased (36.36-30=6.36%).
The shelf life ratio shows how much of its total value fixed assets retained on a certain date.
K and n.g. = C rest n.g. /C n.g. = 294/420 = 70%
K and k.g. = C rest c.g. /C year = 280/440 = 63.64%
The renewal coefficient (K update) characterizes the share of new fixed assets in their total volume (according to the full assessment) at the end of the period and is calculated using the following formula:
K update = C new / C to.g. = 60/440 = 13.64%
The share of new fixed assets in their total volume amounted to 13.64%.
The retirement rate (K vyb) characterizes the share of retired fixed assets during the period in their total value (according to the full assessment) at the beginning of the period and is calculated by the formula:
K sb = C in / C n.g. = 8/420 = 1.9%
The share of retired fixed assets during the year in their total value amounted to 1.9%.
Example #3. The following data are available on the movement of fixed production assets for the enterprise for the year:
full book value of fixed production assets at the beginning of the year, 2248 thousand rubles.
wear factor at the beginning of the year, 30%
new fixed production assets were put into operation during the year, 200 thousand rubles.
received from other enterprises at full cost, 40 thousand rubles.
their residual value at the date of receipt, 36 thousand rubles.
fixed production assets retired at a residual value of 10 thousand rubles.
percentage of depreciation of retired funds 70
average annual depreciation rate, 7%
Define:
1) The volume of fixed production assets at full book value and at the residual value at the end of the year;
2) Indicators of the movement of fixed production assets (renewal and disposal rates);
3) Wear and tear coefficients at the end of the year.
