Object of non-current assets. What are non-current and current assets

The basis of the activities of any enterprise, regardless of specialization, are its assets. In other words, these are the resources of a business entity, without which its activities are impossible.

Depending on how quickly they transfer their value to the final product produced by the enterprise, they are divided into non-current and current assets. The former are also called fixed assets. This is a generally accepted classification of resources based on their functional role and composition. In this article we will look at the essence non-current assets enterprises, we will study their structure, features of functioning and accounting.

Fixed assets: what are they?

Both non-current and current assets of the enterprise take part in the process of releasing finished products. But if the latter are used during one production cycle, the former transfer their cost to the final product.

So, non-current assets are resources that are the property of the enterprise and are used for more than one year or the normal operating cycle, if its duration exceeds 12 months. If we talk in simple words, these are resources that are reusable. These assets account for a significant share of the balance sheet structure. Non-current assets, or rather, their management today is one of the key problems for most enterprises.

Main issues

In conditions economic downturn Business entities use their fixed capital irrationally. It is formed at the initial stage of their activity, and in the future, assets require regular investments and constant effective management.

IN Lately The equipment at many enterprises is outdated, and funds for updating it are limited. As a result, their productivity decreases. This negatively affects both the quality of finished products and production volumes, as well as the final results of operations. economic facilities. To solve this problem, we are updating regulatory regulation, the basic aspects of accounting for fixed capital are changing, legal regulations for its use are being strengthened, and the range of business transactions is expanding.

Classification

Non-current assets are distinguished by a variety of elements and types. In this regard, for ease of management, the enterprise needs to subdivide them according to functional characteristics. According to this classification, they are represented by intangible assets, fixed assets (funds), capital investments, equipment for installation, financial investments that will be returned no earlier than in 12 months, and other non-current assets.

Certain groups of fixed capital may be absent in small enterprises.

Depending on what area of activity the fixed capital serves, it can also be classified into operating, investment and non-productive. The latter, unlike the first two, is not involved in either production or financial activities business object, but serves the employees of the enterprise. These assets include sports and health complexes, canteens, educational institutions, etc.

Regarding the sources of formation, fixed capital is classified into own and leased.

Characteristics of individual groups of fixed capital

Intangible assets include intellectual and industrial objects without physical substance, necessary for the implementation economic activity subject.

Capital investments are investments in non-current assets intended to update, modernize and improve the material base of an enterprise. This group also includes unfinished construction - tangible and intangible fixed assets that have not been put into operation.

Equipment for installation refers to those types of assets that, after acquisition, are installed through installation. An example would be assembly or attachment to supports or foundations. This also includes control devices, measuring and other equipment that is installed in the existing equipment of the enterprise.

Fixed assets: essence and composition

Fixed assets (FPE) deserve special attention, since without them it is impossible to produce products, supply goods, or provide services. These include land, structures and buildings, equipment, tools, vehicles and other assets whose useful life is more than 12 months.

Fixed assets are means of labor. Among them, it is customary to distinguish active and passive parts. The first includes equipment and working machines, and the second includes vehicles, warehouses, production workshops, etc. Such detailing allows you to optimize the structure of fixed assets and, based on this, make their use more efficient.

Depreciation of fixed assets

Like other non-current assets, fixed assets are used repeatedly in the production process. As this happens, their original properties are lost, and the funds themselves wear out physically and mentally. Gradually, their cost is transferred to manufactured products in the form of depreciation costs. Obsolescence is when the value of assets declines over time. When new equipment comes onto the market, its cost is always inflated. As time passes, it becomes cheaper, and is replaced by a new, more expensive one. You can observe the same situation with consumer goods. As for physical wear and tear, then it is characterized by the suitability coefficient.

The amount of depreciation for the period depends on the primary cost of the fixed asset and the planned term of its use. It is included in the cost of the final product and returned to the company along with sales revenue. Using accumulated depreciation amounts, business entities invest in non-current assets in order to update their material base.

OS rating

In order to evaluate fixed assets at the current moment, it is necessary to calculate their residual value. This value is the difference between the original price that was paid to purchase the asset and the amount of depreciation. It is at this value that fixed assets are displayed on the company’s balance sheet.

If assets are taken out of service, their liquidation value is determined. A special commission is being created for this purpose.

Economic instability often dictates the need to revalue fixed assets by indexation or according to their market value. The latter is documented. The revaluation is carried out in order to bring actual cost fixed asset in accordance with its real market price. According to domestic legislation, business entities can make such recalculation no more than once a year.

Accounting of fixed assets

Accounting for non-current assets on the balance sheet of business entities is regulated by Order No. 94n of the Ministry of Finance of the Russian Federation dated October 31, 2000. Fixed assets are accounted for in separate groups. Active balance sheet accounts from 01 to 09 are allocated for them. The debit shows the receipt of assets or an increase in their value, and the credit shows depreciation or liquidation.

Account 01 is intended for accounting of fixed assets. Analytical accounting is maintained for each individual object. For this, based on inventory cards Second-order subaccounts are opened. For example, account 01-1 can keep records of buildings, and 01-6 - vehicles. If it is necessary to transfer an asset from one group to another, its value is transferred to the corresponding 3rd order subaccount.

Accounting for investments in fixed assets

Investments in non-current assets are accounted for on account 08. The following are displayed here: capital construction, acquisition of environmental management facilities, land plots, intangible objects, as well as investing in structures, buildings, vehicles and equipment.

Accounting is carried out simultaneously for costs as a whole and for individual objects. Account 08 displays the execution of work both by business and contract methods. Its balance as of a certain date characterizes construction in progress. Sub-accounts are opened for individual investment objects. Debit turnover shows the amount of costs incurred for the acquisition and construction of objects, while credit shows their write-off.

As already mentioned, according to the nature of participation in the production process, assets are divided into non-current and current (current). They play a leading role in asset valuation.

Non-current assets include:

Intangible assets;

Fixed assets;

Construction in progress;

Profitable investments in material values;

Long-term financial investments;

Other intangible assets.

Ensuring the efficient use of non-current assets requires constant management of them, which is carried out in various forms. The largest part of non-current assets is, as a rule, operating assets, which go through the following main stages of circulation:

1. Transfer of the value of non-current assets to finished products;

2. Accumulation of the amount of wear and tear through the formation of a depreciation fund;

3. Financing from the sinking fund for the restoration or acquisition of non-current operating assets and other sources.

The operational non-current assets management system includes the following sequence of activities carried out by the organization's management:

Analysis current state operating non-current assets, including studying the dynamics of their total volume and composition, degree of suitability, intensity of renewal and efficiency of use;

Optimization of the composition and structure of operating non-current assets to identify reserves for increasing their production use in terms of time and capacity in the context of their individual types;

Creation of conditions that ensure timely renewal of operating non-current assets;

Increasing the efficiency of using the organization's operating non-current assets, reducing their volume and, accordingly, reducing the amount of financing for their reproduction;

Optimization of the structure of sources of financing for operating non-current assets;

Important In the implementation of a non-current assets management system, it is necessary to ensure their timely and effective renewal, for which it is necessary to determine the frequency of renewal, which depends on the duration of their physical and moral wear and tear.

The organization in its practical activities uses various forms of updating operating non-current assets, while in the process of simple reproduction the following are used: Maintenance, major renovation, acquisition of new types of assets, and in the process of expanded reproduction - reconstruction, modernization, etc. The choice of a specific form of renewal should be carried out according to the criterion of efficiency, when the amount of future profit generated as a result of the operation of the asset after renewal should exceed its liquid value.

The process of financing the renewal of certain types of operating non-current assets involves choosing options for their formation, i.e. acquisition of ownership or conclusion of a lease (leasing) agreement. When solving this problem, as a rule, they proceed from an analysis of the advantages and disadvantages of one or another form of attracting assets.

The main criterion for making a management decision from the position of financial management is comparison cash flows with various forms of financing for asset renewal. In this case, the cost of acquisition is compared due to own funds, due to bank loan and using a leasing agreement.

Current production assets include production inventories (raw materials, supplies, fuel, spare parts, low-value and wearable items), work in progress, deferred expenses.

The main purpose of working capital of production ( inventories and work in progress) – to ensure uninterrupted and rhythmic production process.

Finished products, as well as cash at the cash desk, on the current account, accounts receivable and funds in settlements constitute working capital. The need for these revolving funds is determined by the continuity of the process of circulation of funds of production associations (enterprises).

Essence working capital determined by their economic role, the need to ensure the reproduction process, including both the production process and the circulation process. Unlike fixed assets, which are repeatedly involved in the production process, working capital operates only in one production cycle and, regardless of the method of production consumption, completely transfers its value to the finished product.

The efficiency of an enterprise largely depends on its availability of working capital. The sources of their formation largely determine the efficiency of using working capital. Establishing the optimal ratio between own and borrowed funds, due to the specific features of the circulation of funds in a particular economic entity, is an important task of the company.

The organization of working capital is an important element in the asset management process and includes:

o determination of the composition and structure of working capital;

o establishing the enterprise’s need for working capital and maintaining working capital in an amount that optimizes management current activities;

o determining the ratio between sources of coverage sufficient to ensure long-term production and efficient financial activities of the enterprise

o identifying sources of working capital;

o responsibility for the safety and efficient use of working capital.

Non-current assets are property assets of an enterprise that are repeatedly involved in the process of economic activity as means of labor and transfer the used value in parts to the manufactured products. In other words, fixed assets- this is that part of the enterprise’s property that functions for a long time unchanged in kind. Non-current assets in practice include several types of property:

Fixed assets- that is, means of labor used in economic activity during long term(more than a year), without changing its material form and appearance. They wear out gradually, and their cost is transferred to the created products not immediately, but in parts as they are used, using the depreciation procedure.

A characteristic feature of fixed assets is the invariability of their material form during operation: for example, a sewing machine after three years of operation will remain a sewing machine, in contrast to thread and fabric, which in a matter of hours from a spool and roll will turn into a suit, dress, trousers, etc. etc., in this case it will be impossible to restore them back to the reel and roll.

Non-current assets of most enterprises mostly consist of fixed assets. Fixed assets include:

buildings and constructions;
transfer devices;
vehicles;
cars and equipment;
some types of tools, production and household equipment;
working and productive livestock;
perennial plantings;
capital costs for land improvement.

It should be noted that some objects that last longer than a year have a fairly low cost, and it seems irrational to charge them with monthly depreciation during their useful life in the amount of several rubles. Due to this current legislature provides for enterprises the opportunity to independently set a limit on the value of fixed assets at a level of no more than 20,000 rubles.

If the company has exercised this right, all objects used for more than a year, but worth less established limit- for example, a computer printer, a copy machine - are not included in fixed assets, but are accounted for as part of current assets as inventories.

Intangible assets - long-term investments, which do not have a material structure, but are used in the economic activities of the enterprise and generate income. This could be intellectual property, know-how or business reputation of the company.

Intellectual property objects represent exclusive rights to the results of intellectual activity: inventions, industrial designs, utility models, computer programs etc.

Know-how means such information of technical, organizational or commercial content that has actual or potential commercial value due to its unknown to other persons. There is no free access to this type of information on a legal basis and the owner of the information accepts necessary measures to protect her confidentiality.

Concerning business reputation, it determines the level of trust of counterparties and is of great importance when making transactions, in particular credit transactions.

In Russia, intangible assets also include organizational expenses for creating an enterprise (preparation of constituent documents, registration of an enterprise, etc.), provided that these expenses are paid by one of the founders and registered as his contribution to the authorized capital of the enterprise.

Investments in non-current assets– these are the costs of creating, acquiring and increasing the size of non-current assets that are not intended for sale. These include: costs of construction and installation work, purchase of equipment, tools, facilities real estate, intangible assets, costs of design, survey and drilling work, etc. This category of non-current assets is represented by unfinished construction projects, uninstalled equipment, etc.

Upon completion of construction or installation work and legal registration object, it is put into operation, i.e. transferred from the category of “investments in non-current assets” to fixed assets or intangible assets.

Long-term financial investments- diversion of funds for a period of more than one year, the purpose of which, as a rule, is to make a profit on a long-term scale. Long-term financial investments can be of several types:

investments in securities - purchase of long-term bonds, certificates of deposit, financial bills etc., as a result of which the company will receive interest, and at the end of the period established for this securities, will receive the invested funds back;
investments in authorized capitals other organizations - by purchasing shares (OJSC, CJSC) or acquiring shares (LLC) in order to exercise control over this enterprise, as well as receive income (dividends);
providing long-term loans to other organizations.

Current assets– these are assets that serve or are repaid within 12 months, or during the normal operating cycle of the organization (if it exceeds 1 year). Many current assets are used simultaneously when they are released into production (for example, raw materials). Current assets are one of two groups of assets of an organization (the second is non-current assets).

Composition of current assets

The following current assets are distinguished:

VAT on purchased assets;
accounts receivable;
financial investments (except for cash equivalents);
cash and cash equivalents;
other assets that meet the criteria of current assets.

Current assets, in principle, have a higher degree of liquidity than non-current assets. And money, as part of current assets, has absolute liquidity.

Analysis of current assets

A sufficient amount of current assets is necessary for the smooth operation of the enterprise, be it materials used in the production process, or funds for settlements with suppliers. Therefore, analysis of asset liquidity occupies a central place in the financial analysis of enterprises.

A high share of current assets is typical for material-intensive industries and trade organizations. The higher the share of current assets (and, accordingly, the lower the share of non-current assets), the more the organization can attract short-term financing (short-term loans and borrowings, deferred payments to suppliers, etc.) without compromising its financial stability.

Fixed assets– these are assets whose useful life (repayment) is more than one year. total amount The assets of an enterprise consist of non-current and current assets.

Composition of non-current assets

Non-current assets include:

intangible assets;

research and development results;

fixed assets;

profitable investments in material assets;

financial investments, the return of which is expected no earlier than in a year;

Deferred tax assets;

other assets that have characteristics of non-current assets.

By the ratio of the share of current and non-current assets one can judge nature of production. Thus, capital-intensive enterprises (for example, telecommunications) are characterized by a large share of non-current assets, and material-intensive (or commodity-intensive, such as trade) are characterized by a small share.

Analysis of non-current assets

Non-current assets require long term investment, therefore, the sources of their acquisition should be mainly the organization’s own capital, and partly long-term borrowed funds. Therefore, the more capital-intensive production, the greater should be the share of equity capital in the sources of financing the enterprise’s activities.

Non-current assets have less liquidity than current assets, that is, they are more difficult to sell by converting them into cash. In general, liquidity, as one of the indicators of financial stability, depends on the structure of the enterprise’s assets and the sources from which their purchase is financed.

§ 4. Depreciation and amortization of fixed assets

The main production assets wear out during their operation. There are two types of wear and tear - physical and moral.

Under physical wear and tear understand the gradual loss of fixed assets of their original use value, which occurs not only during their operation, but also during their inactivity (destruction from external influences, atmospheric influences, corrosion). The physical wear and tear of fixed assets depends on the quality of fixed assets and their technical improvement; features of the technological process; the time of their action; degree of protection of fixed assets from external conditions; the quality of care for fixed assets and their maintenance, from the qualifications of workers and their attitude towards fixed assets.

Physical deterioration occurs unevenly even among identical elements of fixed assets. A distinction is made between complete and partial depreciation of fixed assets. At completely worn out existing assets are liquidated and replaced with new ones (capital construction or ongoing replacement of worn-out fixed assets). Partial wear reimbursed through repairs.

Essence obsolescence consists in the fact that the means of labor depreciate, lose value until they are physically worn out, before the end of their physical service life.

Obsolescence comes in two forms.

The first form of obsolescence is This is a reduction in the cost of machines and equipment of the same design that were produced before, due to the reduction in the cost of their reproduction in modern conditions.

Second form of obsolescence- this is a reduction in the cost of machinery and equipment that is still physically usable due to the emergence of new, technically more advanced and productive ones, which displace the old ones.

The main source of covering costs associated with the renewal of fixed assets, in the context of the transition to market relations, self-financing of enterprises are own funds of enterprises. They accumulate over the entire service life of fixed assets in the form of depreciation charges.

Depreciation - This is monetary compensation for the depreciation of fixed assets by including part of their value in the costs of production. Consequently, depreciation is the monetary expression of physical and moral wear and tear of fixed assets. Depreciation is carried out in order to completely replace fixed assets when they are disposed of. The amount of depreciation depends on the cost of fixed assets, the time of their operation, and the costs of modernization.

The ratio of the annual amount of depreciation to the cost of fixed assets, expressed as a percentage, is called depreciation rate. The depreciation rate, calculated as a percentage, shows what share of its book value is transferred annually by the means of labor to the products they create. According to established standards, depreciation charges are included in the cost of finished products.

Currently being developed uneven depreciation, in which most of the cost of equipment is included in production costs in the first years of operation. For example, in the first year - 50%, second - 30%, third - 20%. This allows the enterprise, in conditions of inflation, to quickly recoup the costs made and use them for further updating of the equipment fleet.

Fixed assets- these are assets whose useful life (repayment) is more than one year. The total amount of assets of the enterprise consists of non-current and current assets. Accordingly, non-current assets are one of two sections of the Asset balance sheet.

Composition of non-current assets

Non-current assets include:

research and development results;
fixed assets;
financial investments, the return of which is expected no earlier than in a year;
Deferred tax assets;
other assets that have characteristics of non-current assets.

In essence, non-current assets include means of labor (machines and equipment), which are consumed in the process of use not immediately (like materials), but over a long period, and liabilities receivable no earlier than in 12 months.

Based on the ratio of the share of current and non-current assets, one can judge the nature of production. Thus, capital-intensive enterprises (for example, telecommunications) are characterized by a large share of non-current assets, and material-intensive (or commodity-intensive, such as trade) - by a small one.

Analysis of non-current assets

Non-current assets require long-term investments, so the sources of their acquisition should be mainly the organization’s own capital, and partly long-term borrowed funds. Therefore, the more capital-intensive production, the larger the share should be equity in sources of financing the activities of the enterprise.

It should be noted that the maturity date of an asset is not always a sign for classifying an asset as current or non-current. The liquidity of the asset also plays a role. For example, one due in 2 years would normally be treated as a non-current asset. However, the entity's confidence in the ability to sell it without loss at any time before this date may be a reason for classifying accounts receivable included in current assets.

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Non-current assets: details for an accountant

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