PBU 19/02 introduces a new concept - initial cost financial investments(clause 8). It is here that financial investments are accepted accounting. PBU provides various ways determining the initial cost of financial investments depending on the order of their acquisition or receipt by the organization.
Financial investments can be:
Purchased for a fee;
Purchased at the expense of borrowed money;
Contributed as a contribution to the authorized (share) capital by another organization;
Received by the organization free of charge;
Acquired under contracts that provide for the fulfillment of obligations in non-monetary means;
Contributed to the contribution under a simple partnership agreement.
The author will consider the features of the formation of the initial cost of financial investments using the example of an acquisition. valuable papers due to the greatest prevalence of variations in the acquisition of this particular type of financial investment.
for a fee
The initial cost of securities acquired for a fee includes (clause 9) the amount of the organization's actual costs for their acquisition (excluding VAT and other refundable taxes).
The actual costs of acquiring these types of financial investments are (clause 9):
Amounts paid in accordance with the contract to the seller;
Amounts paid for information and consulting services, and intermediary fees, under a commission, agency or guarantee agreement to a third party or organization, which is paid upon the acquisition of financial investments.
The list of actual costs is open and provides for the possibility of including other similar costs, with the exception of general business and other expenses that are not directly related to the acquisition of assets as financial investments.
Organizations are given the right to independently determine the materiality of the amount of additional costs associated with the acquisition of an asset (clause 11). If, in comparison with the amount that needs to be paid to the seller under the contract, the organization considers other costs to be insignificant, it has the right to take them into account as part of other operating expenses, including reporting period, in which securities were accepted for accounting. The level of materiality must be fixed in the accounting policies of the organization. Typically it is 5% of the corresponding indicator.
It happens that an organization used information or consulting services in connection with making a decision to purchase financial investments, but never acquired these assets. Then these costs are taken into account as part of operating expenses and are included in financial results. commercial organization that reporting period when the decision was made not to purchase financial investments (clause 9 of PBU 19/02). The nonprofit organization attributes these costs to increases in the nonprofit organization's expenses.
The Tax Code of the Russian Federation does not contain a list of expenses for the acquisition of securities. A breakdown of expenses was given in the Guidelines for the application of Chapter 25 “Organizational Income Tax”, part two Tax Code of the Russian Federation, as amended, approved by order of the Ministry of Taxes and Taxes of Russia dated February 26, 2002 N BG-3-02/98. The direct costs associated with the acquisition and sale of securities included the costs of paying for the services of specialized organizations and other persons for consulting, information and registration services; remunerations paid to intermediaries (including payment for depository services related to the transfer of ownership) and remunerations paid to organizations that ensure the conclusion and execution of transactions; other justified and documented direct costs associated with the acquisition and sale of securities.
The Tax Code of the Russian Federation (clause 8 of Article 280), in principle, provides that the taxpayer can independently choose the types of securities for which, when determining tax base income and expenses may also include other income and expenses provided for by Chapter 25 of the Tax Code of the Russian Federation.
As for the “input” VAT associated with services for the purchase of securities, clarity in this moment There is no legislation on this issue. And the opinions of experts on this issue differ.
VAT amounts paid to a consultant or intermediary for their services are not deductible, since the securities purchased by the organization are not used in the production and sale of goods (work, services) or other transactions recognized as subject to VAT.
If the purchased goods (work, services) are used in activities that are not subject to taxation (exempt from taxation) under paragraphs 1-3 of Article 149 of the Tax Code of the Russian Federation, then " input VAT" is taken into account as part of expenses accepted for deduction when calculating corporate income tax (clause 1, clause 2, article 170 of the Tax Code of the Russian Federation). And turnover on the sale of securities is exempt from VAT in accordance with clause 12, clause 2, article 149 Tax Code of the Russian Federation Therefore, input VAT should be included in expenses when determining the tax base for profit.
A similar opinion was previously expressed by the Russian Ministry of Finance, in particular in letters dated January 27, 1999 N 04-02-05/1, dated December 29, 1997 N 04-03-11. VAT on services related to the acquisition of securities is included in the book value of the security as part of the “actual costs”.
When should input VAT on expenses directly related to the acquisition of securities be accepted as expenses?
It is obvious that the validity of these expenses will arise upon the sale (disposal) of the securities themselves.
Example 1.
In 2003, the company acquired shares of OAO Gazprom on the stock exchange through a broker (intermediary) in the amount of 100,000 rubles. The broker's intermediary fee is 1,200 rubles, including VAT 200 rubles. The organization incurred costs for re-registration of shares in the register of shareholders in the amount of 600 rubles, including VAT of 100 rubles.
IN in this case There are two options for accounting for the initial cost of securities. Considering that the cost additional expenses compared to the cost of securities is less than 5% (1800/100000), then the organization can take into account additional costs as part of operating expenses.
Debit 76-5 Credit 51
RUB 101,800 - funds were transferred in payment for securities and intermediary services;
Debit 58-1 Credit 76-5
RUB 101,800 - securities were capitalized after receiving documents on the transfer of ownership of them by actual cost in view of VAT.
Debit 58-1 Credit 76-5
100,000 rub. - securities are capitalized after receiving documents on the transfer of ownership of them at actual cost;
Debit 91-1 Credit 76-5
1,800 rub. - the cost of intermediary services is taken into account as operating expenses (including VAT).
It seems that the tax authorities will insist on excluding these costs from the current tax base for profits for tax purposes, since the securities themselves remain on the balance sheet, and intermediary services are added to the current tax base. production activities organizations have no relationship. Therefore, in the author’s opinion, it is better to reflect the transaction according to the first type, so that in the future, when disposing of securities, all expenses for its acquisition, including intermediary fees, are taken into account as the initial cost of the retiring securities in tax accounting.
The agreement for the purchase of securities may stipulate that their cost or intermediary services for their acquisition are paid in rubles in an amount equivalent to the amount in foreign currency(conditional monetary units). PBU 19/02 (clause 10) describes the rules for accounting for financial investments in this situation. Actual acquisition costs can be determined (decrease or increase) taking into account the amount differences that arise before the assets are accepted as financial investments for accounting.
An example can be given with the acquisition of securities on the terms of partial payment, when the transfer of ownership of the securities occurs before their full payment.
Example 2.
In 2003, the company acquired shares in the amount of 1200 USD. on the terms of 50% prepayment. Payment is made in rubles at the rate established by the Central Bank of the Russian Federation for $1 on the day of transfer.
The transfer of ownership of shares is carried out on the day the seller receives the advance payment. The exchange rate on the date of transfer of the advance payment was 27 rubles. / USD, as of the final settlement date 29.2 rubles. /USD. Income and expenses for profit tax purposes are determined using the accrual method.
Debit 76-5 Credit 51
16,200 rub. (1200 USD x 50% x 27 rubles / USD) - advance payment is transferred based on the seller’s account;
Debit 58-1 Credit 76-5
32400 rub. (1200 USD x 27 rubles / USD) - received securities were capitalized at the rate of the Central Bank of the Russian Federation on the date of capitalization;
Debit 76-5 Credit 76-5
16,200 rubles - the amount of advance payment is credited;
Debit 76-5 Credit 51
RUB 17,520 (1200 USD x 50% x 29.2 rubles / USD) - the balance of the debt is transferred to the seller;
Debit 91-2 Credit 76
RUB 1,320 (32,400 - 16,200 - 17,520) - based on accounting certificate the negative amount difference created after the securities were accepted for accounting is reflected.
through borrowed funds
Paragraph 9 of PBU 19/02 determines how the initial assessment of financial investments should be formed if they are acquired with borrowed funds. In this case, you should be guided by clause 11 of PBU 10/99 and clauses 14 and 15 of PBU 15/01.
This means that interest accrued by an organization on borrowed funds provided to it before the financial investments are accepted for accounting are included in the initial cost of these investments. For example, in the case of using borrowed funds to prepay financial investments accounts receivable increases by the amount of interest (clause 15 of PBU 15/01).
Interest accrued by an organization after accounting for financial investments is taken into account as part of operating income and is subject to inclusion in the financial result of the organization.
Example 3.
In March 2003, the organization received a loan from the bank to purchase shares of another company in the amount of 400,000 rubles. for a period of 4 months. According to the agreement, interest on the loan at a rate of 24% per annum is deducted monthly by the bank from the organization’s current account. Received credit funds were transferred by the enterprise to the broker. In April, the broker purchased a block of shares for the organization for 400,000 rubles. The broker's remuneration amounted to 12,000 rubles, including VAT of 2,000 rubles.
The following entries will be made in accounting:
Debit 51 Credit 66
400,000 rub. - received Bank loan;
Debit 76-5 Credit 51
400,000 rubles - funds were transferred to the broker for the purchase of shares;
Debit 76-5 Credit 66
8,000 rub. - interest costs are included in the actual costs of acquiring shares;
Debit 76-5 Credit 51
12,000 rubles - remuneration transferred to the broker;
Debit 58-1 Credit 76-5
420,000 rub. (400,000 + 8,000 + 12,000) rubles - shares are accepted for accounting at their original cost.
Subsequently, after the securities are posted until the loan is repaid:
Debit 91-2 Credit 66
8,000 rubles - accrued interest under the agreement is reflected in operating expenses.
free of charge
Securities are received free of charge, mainly under a gift agreement. Under a gift agreement, one party transfers or undertakes to transfer ownership of property to the other party free of charge (Article 572 of the Civil Code of the Russian Federation). Commercial organizations can give each other property worth no more than 5 minimum wages (clause 4 of Article 575 of the Civil Code of the Russian Federation), i.e. 500 rub. If at least one of the parties to the gift agreement is either individual, then the value of the gift is not limited by anything. If a commercial organization nevertheless received property over 5 minimum wages free of charge from another similar company, then this transaction may be declared invalid if one of the interested parties files a claim in court. This can be done by interested parties (owners of the organization, shareholders, etc.) within 10 years from the date gratuitous transfer property (clause 1 of article 181 of the Civil Code of the Russian Federation). If the transaction is declared invalid, the organization will be obliged to return to the donor all property received from him. It happens that by this time such property is no longer listed in the organization. Then the company will have to reimburse the cost of the transferred property in money (clause 2 of Article 167 of the Civil Code of the Russian Federation).
The initial cost of securities received by an organization free of charge depends on whether these securities are quoted on ORTB or not (clause 13 of PBU 19/02). If securities are quoted on the securities market, then upon receipt of them free of charge they are accepted for accounting at the current market value on the date of acceptance for accounting.
Sources of information on market prices can be considered:
Official information about stock quotes (concluded transactions) on the stock exchange closest to the location (place of residence) of the seller (buyer);
If there are no transactions on the specified exchange or upon sale (purchase) on another exchange - information on exchange quotations (completed transactions) on this other exchange;
Information on international stock quotes;
Quotation of the Russian Ministry of Finance for government securities and obligations.
For securities for which the organizer of trading on the securities market does not calculate market price, their initial cost in case of free receipt will be the amount Money, which can be obtained as a result of their sale on the date of their acceptance for accounting.
Example 4.
The organization received shares in 2003 under a gift agreement. Their market value is confirmed in writing by the Moscow stock exchange th in the amount of 1200 rubles.
The following entries will be made in accounting:
Debit 58-1 Credit 98 subaccount 2 "Gratuitous receipts"
1200 rub. - financial investments received free of charge at market value are accepted for accounting;
Debit 98-2 Credit 91-1
1200 rub. - the cost of gratuitously received valuables is reflected in non-operating income.
For both accounting and tax accounting the cost of gratuitously received valuables relates to non-operating income (clause 8 of PBU 9/99 and clause 8 of Article 250 of the Tax Code of the Russian Federation). The tax base for profits increases by the entire current market value of gratuitously received assets during the period of their receipt.
against the contribution of another organization to the authorized (share) capital
The initial cost of financial investments made as a contribution to the authorized (share) capital of an organization is recognized as their monetary value, agreed upon by the founders (participants) of the organization (clause 12 of PBU 19/02). This assessment is usually recorded in the organization's constituent documents.
In cases established by law, the value of the financial investments made is confirmed independent appraiser. The cases in which this is required by Federal Law No. 208-FZ of December 26, 1995 “On Joint-Stock Companies” are stated in Section 7 “How to take into account contributions to the authorized capital and income from it.”
As for societies with limited liability, then according to paragraph 1 of Article 15 of Law No. 14-FZ, a contribution to the authorized capital of a company can be money, securities, other things or property rights or other rights that have a monetary value.
The monetary value of non-monetary contributions to the authorized capital of the company made by the company's participants and accepted into the company by third parties is approved by the decision general meeting participants of the company, adopted by all participants of the company unanimously. Moreover, if the nominal value of the share of the accepted participant, paid by non-monetary contribution, is more than two hundred minimum sizes wages established by federal law on the date of the corresponding changes in the company's charter, such contribution must be assessed by an independent appraiser. The nominal value of the share of the new participant in this case cannot exceed the amount of valuation of the specified contribution, determined by an independent appraiser (clause 2 of Article 15 of Law No. 14-FZ).
under contracts providing for the fulfillment of obligations
non-monetary means
The initial cost of securities acquired under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the value of assets transferred or to be transferred by the organization (clause 14 of PBU 19/02). The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.
If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of financial investments is determined based on the cost at which similar financial investments are acquired in comparable circumstances.
Example 5.
The organization, under an exchange agreement, transfers a computer with a residual value of 9,000 rubles as payment for shares. Its market price at the time of transfer is 12,000 rubles.
The following entries will be made in accounting:
Debit 76 Credit 91-1
12,000 rub. - reflects the cost of the fixed asset item transferred as payment for shares under an exchange agreement, based on the market value;
Debit 91-2 Credit 68
2000 rub. - VAT is charged on the cost of the transferred computer.
For simplicity, we will omit the operation of writing off accrued depreciation and determining the residual value.
Debit 91-2 Credit 01-2
9,000 rub. - the residual value of the computer is written off;
Debit 91-9 Credit 99
1,000 rub. - the financial result under the exchange agreement is determined;
Debit 58-1 Credit 76
12000 rub. - shares received under an exchange agreement at an initial cost equal to the value of the property being exchanged are accepted for accounting;
Debit 76 Credit 76
12000 rub. - credited mutual demands parties when fulfilling obligations under a barter agreement.
4.3. Storage costs
Securities are stored at the organization's cash desk, in a depository or in a bank. The cash desk stores documentary securities; the depository usually accounts for and stores uncertificated securities.
Depository is a professional participant in the securities market that provides services for storing securities certificates or recording them and transferring ownership of securities. The activities of the depository are regulated by a depository agreement with the client (depository account agreement).
When securities are stored in a depository, they continue to be listed on the organization’s balance sheet, since ownership of them does not pass to the depositary. In this case, accounting of securities is carried out at places of storage (depositories) or securities accounts.
Expenses for servicing an organization's financial investments, such as payment for bank and/or depository services for storing financial investments, providing an extract from a securities account, etc. are recognized as operating expenses of the organization (clause 36 of PBU 19/02). In accounting, they are reflected in the debit of account 91 and the credit of settlement accounts with a specific organization. In the Profit and Loss Statement, expenses associated with servicing securities are shown under the item “Other operating expenses.” Services of depositaries and registrars for servicing bonds are not exempt from VAT. According to the clarification of the Ministry of Finance of Russia dated 06.10.98 N 04-02-05/3, the amount of VAT on services used during the period that securities are on the organization’s balance sheet is charged to the operating expenses account and is reflected in financial statements under the item "Other operating expenses".
In tax accounting, expenses associated with servicing purchased securities, including payment for the services of the registrar, depositary, expenses associated with obtaining information in accordance with the legislation of the Russian Federation, and other similar expenses in accordance with paragraph 4 of paragraph 1 of Article 265 The Tax Code of the Russian Federation refers to non-operating ones.
Since the costs themselves are taken into account as part of non-operating expenses, then the VAT paid upon their acquisition must be taken into account in their composition at the time of recognition of the expenses themselves, provided that the appropriate documents are available that allow VAT to be included in the expenses.
4.4. Cost at disposal
PBU 19/02 establishes new order determining the value of financial investments upon their disposal.
The disposal of securities takes place in cases of redemption, sale, gratuitous transfer, transfer in the form of a contribution to the authorized (share) capital of other organizations, transfer on account of a contribution under a simple partnership agreement, etc. (clause 25 of PBU 19/02). The date of disposal of investments is determined on the date when ownership and financial risks associated with financial investments are transferred to the new owner of the financial investment (price change risk, debtor insolvency risk, liquidity risk, etc.).
The procedure for determining the value of retiring financial investments differs for “quoted” financial investments and “unquoted” ones. If financial investments for which the current market value is determined are disposed of, then their value is determined by the organization based on the latest assessment (clause 30 of PBU 19/02).
Securities may be valued upon disposal using the average cost method and the FIFO method.
It is difficult to say what kind of “last estimate” method this is, and whether it is the “LIFO” method, which is also allowed in tax accounting. Taking into account the requirements of PBU 19/02, constantly revalue quoted securities by reporting date It seems that the safest choice in both accounting methods is the FIFO method, determined for each date of disposal of securities (the so-called rolling FIFO method).
If financial investments are disposed of for which the current market value is not determined, then their value can be determined in one of three ways:
At the initial cost of each accounting unit of financial investments;
Based on average initial cost;
At the original cost of the first financial investments acquired (FIFO method).
The choice of one of these methods is allowed for each group (type) of financial investments and must be enshrined in the accounting policy as its element (clause 26 of PBU 19/02).
Detailed examples the use of each of the valuation methods when disposing of financial investments is given in the appendix to PBU 19/02, and the author does not consider it possible to dwell on this.
We only note that when using the FIFO and average initial cost methods, two options are possible: a weighted or sliding assessment. A rolling estimate makes it possible to use it for each date of transactions, which is very convenient when computer processing information in accounting programs. These methods existed before, but they were not officially described. The use of a rolling method gives more reliable results and has always been supported by the tax authorities during audits. Indeed, for example, when displaying analytics for a specific type of securities, in most accounting programs you can see their specific quantity and total cost in this category for every day. By dividing the total amount by the quantity, it is convenient to check the cost of a retiring unit of a given type of investment. This makes it possible to automate accounting program obtaining a financial result from the disposal of each type of financial investment on each date of its disposal.
Let's compare the methods of writing off securities with the methods allowed in tax accounting. When selling or otherwise disposing of securities, in accordance with the rules adopted for tax purposes accounting policy, the organization independently chooses one of the following methods of writing off the cost of retired securities as expenses (clause 9 of Article 280 of the Tax Code of the Russian Federation):
1) at the cost of the first acquisitions (FIFO);
2) at the cost of recent acquisitions (LIFO);
3) by unit cost.
In order not to maintain separate tax accounting, for accounting for “unquoted” securities it is better to choose the method of determination “at the cost of each unit,” which is allowed for these types of investments in both tax and accounting.
5. Does the initial price of financial investments change?
PBU 19/02 introduced a new norm allowing quotation of the initial cost of financial investments at which they were accepted for accounting (clause 18). For this purpose, PBU introduces a new concept of “subsequent assessment”.
For subsequent assessment, financial investments are divided into 2 groups (clause 19):
Financial investments for which the current market value can be determined;
Financial investments for which the current market value is not determined.
Each group has its own rules for changing the initial cost of financial investments.
for quoted
Financial investments for which the current market value can be determined usually include financial investments in quoted securities.
These assets are reflected in the financial statements at the end of the reporting year at their current market value by quoting their valuation as of the previous reporting date (clause 20). At the request of the organization, such quotation can be made monthly or quarterly.
This is a mandatory rule: quoted securities must be revalued in accounting, i.e. their original value changes to mandatory. The choice of the organization can only be the frequency with which the initial cost of quoted securities will change in the balance sheet.
The difference between the assessment of financial investments at the current market value as of the reporting date and the previous assessment of financial investments is attributed to the financial results of a commercial organization. It is reflected in the credit (debit) of account 91 (as part of operating income or expenses) in correspondence with account 58. For a non-profit organization, the difference is reflected as an increase in income or expenses in correspondence with the financial investment account.
If the current market value of previously quoted securities as of some reporting date is not determined by the trading organizer, it is necessary to reflect its value in accounting at the value of its last valuation (clause 24).
The novelty of this rule is that the initial value of quoted securities must be changed and correspond to the market confirmed valuation. This procedure makes it possible to constantly reflect in the balance sheet the market value of property owned by the organization at each reporting date.
And in tax accounting, both positive and negative differences resulting from the revaluation of securities at market value are not taken into account for the purpose of calculating income tax (subclause 24, clause 1, article 251 and clause 46, article 270 of the Tax Code of the Russian Federation). This provision applies to both professional and non-professional participants in the securities market.
Here we should recall the previously existing position in accounting. Participants in the securities market were not required to revaluate securities at market value. According to clause 3.5 of the Order of the Ministry of Finance of the Russian Federation No. 2 and clause 5.1. FCSM Resolution No. 40 quoted securities at the end of the year (quarter for professional participants) were reflected in the balance sheet at market value if it was lower than book value. The value of securities was adjusted by the amount of the reserve for impairment of investments in securities created from the financial results of the organization at the end of the reporting year. This was not a revaluation; the original cost of the financial investments remained unchanged. And a reserve was created for the amount of the price drop, minus which the quoted securities were reflected in the balance sheet as of the reporting date.
For non-professional market participants, the amount of contributions to the reserve and restoration of the reserve for the financial result were not taken into account for tax purposes.
However, professional participants in the securities market who carry out dealer activities on the basis of licenses issued in the prescribed manner, such transactions with the reserve could be taken into account for tax purposes (Article 300 of the Tax Code of the Russian Federation). To do this, they needed to determine income and expenses on an accrual basis.
Now PBU 19/02 talks about the reserve for unquoted securities, which we will talk about below. And for quoted securities it is necessary to revaluate them.
Therefore, if you strictly follow the wording of the Tax Code of the Russian Federation, then the revaluation of quoted securities, which is now mandatory for all participants in the securities market, does not affect the tax base for profits. It turns out to be unfair. When the exchange rate for quoted securities falls, professional participants cannot take into account the revaluation for tax purposes, since it is called revaluation, and previously they created a reserve for the same amount, which they could take into account when taxing profits. The essence and meaning of the operation remains the same, but due to the fact that this new procedure is not taken into account in the Tax Code of the Russian Federation, professional participants will not be able to take advantage of this benefit.
By the way, in accordance with clause 45 of the Regulations on Accounting and Accounting Reports in the Russian Federation, valuation of investments at market value is provided only for shares listed on the stock exchange or special auctions, the quotes of which are regularly published. Apparently, after the adoption of PBU 19/02, changes will be made to the Accounting Regulations.
for unquoted
Financial investments for which the current market value is not determined include investments in authorized capitals, under a simple partnership agreement, in individual species securities, etc. They are reflected in accounting and reporting as of the reporting date at their original cost (clause 21 of PBU 19/02).
As a rule, their initial cost does not change. When these types of investments depreciate, reserves are created. In the financial statements, unquoted financial investments for which reserves have been created are reflected at historical cost less the created reserve. The author will consider the procedure for forming reserves in section 6 Reserves for depreciation of unquoted financial investments.
An exception is made only for debt securities. If the current market value is not determined from them, then a commercial organization is allowed to attribute the difference between the initial and nominal value during their circulation period evenly as income due on them in accordance with the terms of issue to financial results (as part of operating income or expenses) (p .22 PBU 19/02). The nonprofit may attribute the difference to decreased or increased expenses.
This rule applies when debt securities (eg bonds) are purchased at a price different from the par price (ie, stated on the bond).
If the initial cost of the purchased securities is higher than the par value, then each time the income due on them is accrued, part of the difference between the original and par value is written off.
If the initial cost is lower than the nominal value, then an additional portion of the difference is accrued accordingly.
In both cases, part of the written off (additionally accrued) difference is determined based on the total amount of the difference and the established frequency of payment of income. By the time of maturity book value reaches nominal.
Let us draw the reader's attention to the licensing procedure, which is not mandatory. This situation is not new. According to clause 44 of the Accounting Regulations, the difference between the amount of actual acquisition costs and the nominal value of debt securities is allowed to be attributed to financial results during the period of their circulation evenly as the income due on them accrues. Decision The organization must establish it in its accounting policies.
Example 6.
The organization purchased bonds for 109,000 rubles. The maturity of the bonds is 3 years. The nominal value of the bonds is RUB 100,000. The bonds pay annual interest at a rate of 20% per annum. The organization decided in its accounting policy for debt securities to reflect them at a changing value (bringing them to par value by adjusting the book value as income is received during the circulation period).
The following entries will be made in accounting:
Debit 58-2 Credit 76
109,000 rub. - the initial cost of bonds is reflected in the amount of actual costs;
Debit 51 Credit 76
20,000 rub. (100,000 x 20%) - interest income received on bonds for the first year;
Debit 76 Credit 58-2
3,000 rub. (9,000 / 3) - 1/3 of the difference between the initial and nominal value of the bond for 1 year is written off;
Debit 76 Credit 91-1
15,000 rub. (20,000 - 5,000) - reflects the amount of net income on bonds for the first year.
Over the next years until the bonds are redeemed, the organization repeats the last three entries. As a result, at the time of redemption of the bonds, their book value will be brought to their par value - 100,000 rubles.
The amount of additional accrual of the original cost to the nominal value is reflected in the same way. For this reason, the current financial result will be higher.
In the financial statements for debt securities for which the current market value has not been determined (clause 42 of PBU 19/02), the following is subject to disclosure, taking into account the requirement of materiality of information:
On the methods of their assessment upon their disposal;
The difference between the initial value and the nominal value during their circulation period, calculated in accordance with the procedure established by point 22 PBU 19/02;
Data on their valuation at discounted value, on the value of their discounted value, on the discounting methods used (disclosed in the explanations to balance sheet and profit and loss account).
6. Provisions for impairment of unquoted financial investments
PBU 19/02 introduces a new concept of “impairment of financial investments”. This concept applies only to financial investments for which the market value is not determined. Impairment (clause 37) is understood as a sustainable decrease in value below the amount of economic benefits that the organization expects to receive from these financial investments in normal conditions her activities.
In order to recognize that investments are depreciating, the following conditions must be simultaneously present:
At the reporting date and at the previous reporting date, the accounting value is significantly higher than their estimated value;
During the reporting year, the estimated value of financial investments changed significantly only in the direction of its decrease;
As of the reporting date, there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future.
PBU 19/02 calls specific examples situations in which depreciation of financial investments may occur (clause 37):
The issuing organization of securities owned by the organization, or its debtor under the loan agreement, has signs of bankruptcy, or is declared bankrupt;
Conducting a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value;
Absence or significant decrease in income from financial investments in the form of interest or dividends when high probability further reduction of these revenues in the future, etc.
If such trends arise, the organization must carry out a check to determine the existence of conditions for a sustainable decrease in the value of financial investments. The organization must provide confirmation of the results of this inspection.
If the audit confirms a decrease in value, the organization creates a reserve for the impairment of financial investments. The reserve is created for the difference between the book value and estimated value of these financial investments.
A commercial organization forms a reserve due to financial results (as part of operating expenses), and a non-profit organization - due to an increase in expenses.
In the financial statements, the value of such financial investments is shown at book value minus the amount of the formed reserve for their depreciation.
A check for impairment of financial investments is carried out at least once a year as of December 31 of the reporting year if there are signs of impairment. The organization has the right to carry out the specified check on the reporting dates of the interim financial statements * (1).
To generate generalized information on the availability and movement of reserves, regulatory account 59 “Reserves for the depreciation of investments in securities” is intended.
It is possible that with the introduction of PBU 19/02 and the introduction of amendments by the Ministry of Finance of the Russian Federation to the Chart of Accounts, it will be referred to as “reserves for the impairment of investments in financial investments.”
The credit of account 59 reflects the creation of reserves, and the debit reflects the use. The balance shows the balance of reserves at the end of the reporting period. This account acts as a regulator to account 58 and serves financial source covering losses due to the possible sale of unquoted financial investments at a price less than their book value.
The reserve is created on December 31 of each reporting year (or by decision of the organization quarterly on the reporting dates of the interim financial statements) accounting entry:
Debit 91-2 Credit 59
Provisions have been created for the impairment of investments in unquoted financial investments.
A change in the amount of the reserve (adjustment) for the depreciation of investments in unquoted financial investments occurs in the event of a further change in their estimated value at the end of the reporting period by the accounting entry:
Debit 91-2 (59) Credit 59 (91-1)
The amount of the reserve for impairment of investments in unquoted financial investments has been increased (decreased).
The reserve is written off to financial results (as part of operating income) in two cases:
Upon sale or other disposal of financial investments for which the reserve was created;
If there is no further sustained significant decline in the value of these investments.
The reserve is written off at the end of the year or the reporting period in which the disposal of these financial investments occurred by accounting entry:
Debit 59 Credit 91-1
Let us remind the reader that earlier we discussed reserves for depreciation of quoted securities. Since, in accordance with Order of the Ministry of Finance No. 2, impairment reserves were created specifically for these securities. Based on the wording of these paragraphs of the Tax Code of the Russian Federation, reserves created according to PBU 19/02 from non-professional participants in the securities market for the depreciation of unquoted securities, as well as other financial investments, cannot be accepted for tax purposes.
For professional securities market participants, the amounts of reserves in tax accounting are taken into account taking into account the specifics established by Article 300 of the Tax Code of the Russian Federation. It states that reserves are created for listed securities and they can be taken into account for tax purposes. We are not talking about reserves for unquoted securities. Therefore, reserves created in accordance with PBU 19/02 for the depreciation of unquoted financial investments cannot be taken into account by professional participants for profit tax purposes.
Data on reserves for depreciation of financial investments, indicating: the type of financial investments, the amount of the reserve created in reporting year, the amount of the reserve recognized as operating income of the reporting period; reserve amounts used in the reporting year (clause 42 of PBU 19/02) are disclosed in explanatory note to the organization’s balance sheet, taking into account the materiality requirement.
7. How to take into account contributions to the authorized capital and income from it
initial investment
The initial cost of financial investments made as a contribution to the authorized (share) capital of an organization is recognized as their monetary value, agreed upon by the founders (participants) of the organization (clause 12 of PBU 19/02).
This provision corresponds to paragraph 6 of Article 66 of the Civil Code of the Russian Federation. Let us recall that in accordance with paragraph 3 of Article 34 Federal Law dated December 26, 1995 N 208-FZ “On Joint-Stock Companies” “...the monetary valuation of the property contributed in payment for shares when establishing a company is made by agreement between the founders. Upon payment additional shares non-monetary means, the monetary valuation of the property contributed in payment for shares is carried out by the board of directors (supervisory board) of the company:: When paying for shares in non-monetary means, an independent appraiser must be involved to determine the market value of such property. The value of the monetary valuation of the property made by the founders of the company and the board of directors (supervisory board) of the company cannot be higher than the value of the valuation made by an independent appraiser.”
Primary documents, confirming the implementation of financial investments in the form of a contribution to the authorized capital, are:
The decision of the general meeting and the constituent agreement, which reflect the funds and monetary value of the property contributed by the founders as a contribution to the authorized capital of another organization;
Payment documents confirming the transfer of funds to the deposit account;
Acts of acceptance and transfer of property, etc.
If the contribution is transferred in cash, the acquisition of financial investments is reflected accounting entry:
Debit 76 Credit 51 (50, 52)
Partial or full payment in cash of a contribution to the authorized capital of another legal entity has been made;
Debit 58-1 Credit 76
Fully paid investments assessed according to the constituent documents are accepted as part of financial investments.
If the contribution is transferred in non-monetary means, for example a fixed asset or an intangible asset, then between estimated value property and the value at which this property was acquired or is held by the transferor, a difference may arise (i.e., profit and loss will occur). This accounting difference will be reflected as operating income or expense.
Example 7.
In 2003, the organization transferred fixed assets with an initial cost of 10,000 rubles to the authorized capital as a contribution. (without VAT). VAT in the amount of 2000 rubles. was accepted for deduction from the budget earlier. The residual value of the fixed asset at the time of transfer is 6,000 rubles, accrued depreciation is 4,000 rubles.
By agreement between the founders, the valuation of this fund was determined at 8,000 rubles.
The following entries will be made in the accounting records of the transferring party (shareholder):
Debit 02 Credit 01 subaccount "Disposal of fixed assets"
4000 rub. - accrued depreciation is written off;
Debit 01 subaccount "Disposal of fixed assets" Credit 01
10,000 rub. - the initial cost of the acquired fixed asset is written off;
Debit 91-2 Credit 01 subaccount "Disposal of fixed assets"
6000 rub. - the residual value of the retiring fixed asset is written off;
Debit 58-1 Credit 91-1
8000 rub. the initial cost of financial investments in the authorized capital of another organization is reflected (in the monetary valuation of the fixed assets object, agreed upon by the founders) on the basis of the transfer and acceptance certificate.
This accounting entry is made if full payment of the deposit has been made. If property is transferred by way of partial payment, then accounting entries are made using account 76, as in the case of partial cash payment.
disposal of deposit
When disposing of a contribution to the authorized capital in accounting, the retiring contribution is assessed at the initial cost of each retiring unit (clause 27 of PBU 19/02).
In tax accounting, the value of property when transferred to the authorized capital of both parties is assessed not according to the valuation agreed upon by the founders, but according to the value of the property taken into account in the tax accounting of the transferring party. The cost must be documented. Therefore, when leaving the company or its liquidation, neither income nor expenses arise for both parties if the property is returned exactly according to tax assessment. And accordingly the excess tax value, and not accounting, will be subject to income tax (clause 4, clause 1, article 251 of the Tax Code of the Russian Federation, clause 9, article 250 of the Tax Code of the Russian Federation).
Disposal of contributions to the authorized capital may also occur upon their sale. The sale of shares in the authorized capitals of other organizations is reflected in accounting as the debit of account 62 and the credit of account 91. At the same time, the book value of the objects recorded in the corresponding subaccount of account 58 is written off to the debit of account 91. If there are costs of sale, they are reflected in the debit of account 91.
contribution under a simple partnership agreement
The initial cost of financial investments contributed to the contribution of the partner organization is recognized as their monetary value, agreed upon by the partners in the simple partnership agreement (clause 15 of PBU 19/02).
Confirmation of receipt of the property contribution will be a memo on the receipt of property by a partner conducting common affairs, or an invoice on the transfer of property.
Accounting will be similar, with the only difference that instead of account 58-1 for a simple partnership, the contribution is taken into account in subaccount 58-4 “Deposits under a simple partnership agreement”:
Debit 58-4 Credit 76
The initial cost of the contribution to the joint activity with property is reflected in the valuation provided for in the simple partnership agreement;
Debit 76 Credit 43 (41, 01, 04, 08, 10, 58-1, 58-2)
The book value of property transferred under a simple partnership agreement has been written off;
Debit 76 (91-2) Credit 91-1 (76)
The deviation of the contractual value of the property (in the valuation provided for in the simple partnership agreement) from its accounting value is reflected.
The transfer of property as a contribution to a joint activity is not a sale (subclause 4, clause 3, article 39 of the Tax Code of the Russian Federation) and, therefore, is not subject to VAT (subclause 1, clause 2, article 146 of the Tax Code of the Russian Federation).
For the above reason, the amount of “input” VAT accepted for deduction earlier, attributable to the accounting value of the transferred values, is subject to restoration with the payment of the corresponding amounts of tax to the budget. In the VAT return, amounts subject to restoration are reflected on line 11 (code 430) as tax deductions. Let us recall that the indicator on line 11 reduces the total amount of tax deductions. Therefore, when filling out line 12 “Total amount of VAT accepted for deduction,” the indicators on lines 6-10 are added up, and the indicator on line 11 is subtracted from the resulting amount.
Let us repeat that in tax accounting the value of property is assessed not according to the valuation agreed upon by the founders, but according to the value of the property taken into account in the tax accounting of the transferring party.
In an interview given to the “Accounting Supplement” to the newspaper “Economy and Life” (No. 7 for February 2003), the head of the Profit Taxation Department of the Ministry of Taxes of the Russian Federation K.I. Ohanyan acknowledged the existing problem of reflecting contributions under a simple partnership agreement. He said that preparations are being made to develop a joint position of the Russian Ministry of Taxes and the Russian Ministry of Finance on this issue. Therefore, the reader should stay tuned for new clarifications.
Profit from joint activities under a simple partnership agreement for accounting purposes it is taken into account as part of operating income (clause 7 of PBU 9/99) by accounting entry:
Debit 76-3 Credit 91
Profits receivable (distributed) among partners are reflected.
For tax accounting purposes, income received is taken into account as part of the non-operating income of the participants of the partnership and is taxed at the general rate of income tax (Article 278 of the Tax Code of the Russian Federation). Losses received are not taken into account.
income from deposits
Through financial investments in the authorized capitals of other organizations or in the form of acquired shares of other organizations, the enterprise can receive income from equity participation in the form of dividends.
In accounting they are reflected on an accrual basis as part of operating income, and in tax accounting according to the date of receipt as part of non-operating income.
Let's look at specific examples of reflecting "foreign" dividends and dividends received from Russian organizations.
A Russian organization can receive dividends from a foreign organization or through its permanent representative office in the Russian Federation. The taxation of this income is regulated by clause 1 of Article 275 of the Tax Code of the Russian Federation. It says that the amount of tax in relation to received “foreign” dividends is determined by the taxpayer independently. The tax is paid at a rate of 15% (clause 2, clause 3, Article 284 of the Tax Code of the Russian Federation) of the amount of accrued dividends.
Please note that the tax base includes the entire amount of dividends due to be received, regardless of whether tax was withheld or not under the laws of the country of the non-resident organization paying the income.
A credit may be provided for the amount of foreign tax withheld on a special return under certain conditions. The Russian Federation must have an international agreement on the avoidance of double taxation with the country where the source of dividend payment is located, and it must provide for such a credit. A special declaration is submitted in the reporting period following receipt of income. The amount of tax allowed for exclusion is transferred to line 330 of Sheet 02 of the Income Tax Declaration.
The amount of creditable amounts of taxes paid abroad cannot exceed the amount of tax payable by the organization in the Russian Federation. An offset can be made upon presentation of a document confirming the payment (withholding) of tax outside the Russian Federation.
For taxes paid by the organization itself, certification of such a document is required tax authority the relevant foreign country. And for taxes withheld in accordance with the legislation of foreign states or an international agreement with tax agents, confirmation of the tax agent is sufficient (clause 3 of Article 311 of the Tax Code of the Russian Federation).
Currently, most international agreements provide for the use of reduced rates - 5 or 10%. However, in some states it is possible to apply a 15% rate and even 20%.
The amount of dividends receivable is reflected in non-operating income on line 030 in Sheet 02 “Calculation of income tax” Tax return for corporate income tax (approved by Order of the Ministry of Taxes of Russia dated December 7, 2001 N BG-3-02/542) and on line 030 of Appendix 6 to sheet 02. Reflection occurs during the period of receipt of funds to the current account (cash).
But dividends are taxed not at the general rate of 24%, but at a special rate (15%). Therefore, from the general tax base, dividends should be excluded on line 060 of Sheet 02 and included in line 010 of section B of Sheet 04 “Calculation of income tax on income in the form of interest received on state and municipal securities, as well as on income in the form of dividends ( income from equity participation in foreign organizations)". Then line 030 of Appendix B reflects the amount of tax calculated at a rate of 15% and payable in federal budget.
Amounts of tax on income in the form of dividends paid outside the Russian Federation and counted towards the payment of income tax on the basis of a special declaration accepted by the tax authority are reflected on line 050 of Appendix B.
Example 8.
The Russian organization has a contribution to the authorized capital of the American organization. Based on the results of the distribution of profits by the annual meeting of shareholders of the issuer, held on March 1, 2003, the organization is due dividends for 2002 of 1,000 US dollars. From this amount, according to the laws of a foreign country, a tax amount of 10% - 100 US dollars - was withheld.
On March 29, 2003, $900 was transferred to the account of a Russian organization. Dividends were paid through a representative office in the Russian Federation in the amount of RUB 28,993.5. (V Russian rubles at the rate of the Central Bank of the Russian Federation on the date of payment - 32.2150), minus the income tax withheld at the source of payment of 3221.5 rubles. = 1,000 x 10% x 32.2150.
The exchange rate of the Central Bank of the Russian Federation for 1 $ as of 03/01/03 is 31.8345 rubles.
Since the amount of dividends due to the organization is expressed in foreign currency, it must be reflected in rubles in accounting and financial statements. Recalculation is carried out at the rate of the Central Bank of the Russian Federation in effect on the date of the transaction in foreign currency (clauses 4 and 6 of PBU 3/2000 “Accounting for assets and liabilities, the value of which is expressed in foreign currency”, approved by Order of the Ministry of Finance of Russia dated January 10, 2000 N 2n) . In our case, this is the date of recognition of income in the form of dividends - 03/01/2002.
When dividends are received, accounting records reflect the exchange rate difference for this transaction, which arises as a result of the fact that the exchange rate of the Central Bank of the Russian Federation on the date of payment of dividends differs from the rate on the date of acceptance of the receivables for the payment of dividends. It is credited to the financial result of the organization as it is accepted for accounting (clauses 11-13 of PBU 3/2000).
For profit tax purposes, expenses in the form of negative exchange differences received from the revaluation of property and claims (liabilities), the value of which is expressed in foreign currency, are included in non-operating expenses (clause 5, clause 1, article 265 of the Tax Code of the Russian Federation).
In accounting on 03/01/2003 (as of the date of the decision to pay dividends), the following entries are made:
Debit 76-3 Credit 91-1
RUB 31,834.5 ($1000 x 31.8345) - reflects the amount of dividends due to be received based on an extract from the minutes of the general meeting of shareholders.
The amount is not reflected in tax accounting because it has not yet been received.
Debit 51 Credit 76-3
RUB 28,993.5 (900 x 32.2150) - dividends were credited to the current account;
Debit 76-3 Credit 91-2
380.5 rub. (1000 x (32.2150 - 31.8345) - reflects the exchange rate difference on dividends received;
Debit 99 Credit 68
4832.25 rub. (1000 x 32.2150 x 15%) - income tax is charged on income in the form of dividends.
In the Profit Tax Return for March (Q1 2003), the amount of dividends received was 28,993.5 rubles. reflected on line 030 and 060 of Sheet 02, line 130 of Appendix 6 to Sheet 02, line 010 of Section B of Sheet 04.
Line 030 of section B reflects the amount of accrued tax of 4832.25 rubles. The tax is transferred entirely to the federal budget.
In the reporting period following the period of receipt of income, i.e. starting from the 2nd quarter, the organization submits a special declaration to offset the tax paid abroad.
The amount of tax paid outside the Russian Federation from a special declaration accepted by the tax authority and allowed for exclusion is reflected on line 330 of Sheet 02 and line 340 (credit to the federal budget).
Debit 68 Credit 76-3
3221.5 rub. (1000 x 32.2150 x 10%) - the amount of income tax withheld by the source of income abroad is included in the reduction of income tax.
From the text of paragraphs 1 and 2 of Article 275 of the Tax Code of the Russian Federation, it is not entirely clear whether a Russian organization, when paying income to its shareholders, has the right to reduce the tax base by the amount received foreign dividends. Logically, it does: does it matter what kind of dividends it “redistributes” to its shareholders - Russian or foreign? Moreover, foreigners pay higher taxes than Russian ones. However, some authors, for example Lapina O.G. (see "Annual Report for 2002", P.304) believe that dividends received from abroad will not be accepted to reduce the amount of distributed dividends. Clause 2 of Article 275 of the Tax Code of the Russian Federation gives the right, when calculating the tax base, to exclude only amounts received by the tax resident himself from a Russian organization.
If the source of payment of dividends is a Russian organization, it is recognized tax agent and determines the amount of tax taking into account the provisions of clause 2 of Article 275 of the Tax Code of the Russian Federation. In this case, the tax agent is obliged to calculate, withhold and transfer to the budget the amount of income tax, and the taxpayer - recipient of the income is transferred the amount of dividends minus the withheld tax. Consequently, recipients of income do not have to pay income tax on the amount of dividends received from Russian organizations. Otherwise, income will be subject to income tax twice - at the source of payment of income at a rate of 6% and at the taxpayer at a rate of 24%.
In accordance with clause 1 of Article 250 of the Tax Code of the Russian Federation, the received “cleared” income from equity participation in other organizations is included in non-operating income. They are reflected in total amount non-operating income on line 030 and 060 of Sheet 02 of the Income Tax Declaration and line 130 of Appendix 6 to Sheet 02.
But since the tax has already been withheld from them by the tax agent, the amount received is removed from the tax base by simultaneous exclusion on line 080 of Sheet 02 of the Declaration. In the future, the amount of dividends received is not reflected anywhere else.
The amount of income received from Russian organizations from equity participation may further reduce the taxes that must be withheld when paying income to their shareholders (participants).
If income from equity participation is paid in property, then it is accounted for in the debit of asset accounts and the credit of account 76-3.
Since the contribution to the authorized capital is an unquoted financial investment, it is reflected in the financial statements as of the reporting date at its original cost (clause 21 of PBU 19/02). By this species investments may experience a sustained significant decrease in their value (clause 37 of PBU 19/02), for example, the absence or significant decrease in income from financial investments in the form of interest or dividends with a high probability of a further decrease in these income in the future, etc. In this case, the organization creates a reserve for the depreciation of this type of investment. The rules for creating and working with it are set out in section 6 Reserves for impairment of unquoted financial investments.
Then, in the balance sheet, financial investments in the form of contributions to authorized capital are shown minus the created reserve.
If this information is significant for users of financial statements, then the explanatory note should disclose:
Cost of deposits;
Data on the reserve for their impairment, indicating: the type of deposit, the amount of the reserve created in the reporting year, the amount of the reserve recognized as operating income of the reporting period; reserve amounts used in the reporting year (clause 42 of PBU 19/02).
8. How to account for loans provided and income from them
cash loans
Loans can be issued not only by credit institutions, but also by legal entities. The loan can be issued in cash or property.
According to paragraph 1 of Article 807 of the Civil Code of the Russian Federation, under a loan agreement, an enterprise (lender) transfers money or other property into the ownership of another enterprise (borrower). In this case, the borrower undertakes to return the property taken from him to the lender after a certain time. The loan agreement is considered concluded only from the moment the property is transferred to the borrower.
PBU 19/02 emphasizes that financial investments, including in the form of loans, must be designed to generate income.
Civil Code provides that loans may be unprofitable. Firstly, the parties can agree that the contract will be interest-free. Secondly, a loan agreement, under which the borrower is transferred not money, but other things defined by generic characteristics, is assumed to be interest-free, unless it expressly provides otherwise (Article 809 of the Civil Code of the Russian Federation).
The amount of interest is usually determined in advance and fixed in the loan agreement. If it is not established in the agreement, then the borrower is obliged to pay interest in the amount of the refinancing rate Central Bank of the Russian Federation on the day of payment of the debt or its corresponding part (clause 1 of Article 809 of the Civil Code of the Russian Federation).
For the party receiving the loan, the accounting of loans is regulated by the Accounting Regulations “Accounting for loans and credits and the costs of servicing them” (PBU 15/01), approved by Order of the Ministry of Finance of Russia dated August 2, 2001 N 60n.
In accordance with clause 3 of PBU 15/01, the principal amount of debt on a loan received is taken into account by the borrowing organization in accordance with the terms of the loan agreement in the amount of funds actually received or in provided for by the contract valuation of other things.
The borrower organization accepts the specified debt for accounting at the time of the actual transfer of money or other things and reflects it as part of accounts payable(clause 4 of PBU 15/01).
PBU 19/02 in terms of loans echoes PBU 15/01, but does not indicate what will be the initial cost of the loan when issuing a loan with property: the “contractual cost of things” or the actual cost.
In the amount of actual costs, it is obligatory to take into account the provided loan, clause 44 of the Regulations on accounting and financial reporting in the Russian Federation (approved by order of the Ministry of Finance of Russia dated July 29, 1998 N 34n).
PBU 19/02 clarifies (clause 35) that in accounting, expenses associated with the provision of loans by an organization to other organizations are recognized as operating expenses of the organization.
The movement of loans provided is accounted for using balance sheet account 58-3 “Loans provided”. For loans, the issuance of which is secured by bills of exchange of the borrower, a separate subaccount “Provided loans secured by bills of exchange” can be allocated.
The provision of loans in cash is reflected by the following entry:
Debit 58 subaccount 3 "Loans provided" Credit 51, 50
A loan is provided or a loan is provided that is secured by a promissory note.
property loans
Let's look at an example of issuing a loan using property. Organizations often have to face the problem of replenishing working capital by temporarily borrowing raw materials, materials and other inventories. For these purposes, one party (the lender) may transfer to the other party (the borrower) material values in kind under the loan agreement.
The valuables loan agreement is close to the agreement commodity credit and is an independent loan-type transaction.
An essential condition of the loan agreement will be the indication of the name and quantity of valuables transferred to the borrower. The contract may agree on conditions regarding its quality, assortment, and completeness. The borrower is obliged to return inventory items of exactly the same type and quality within the agreed time frame. Otherwise, such relations can be qualified as barter, that is, arising from an exchange agreement.
A problem arises when interpreting the transfer of property as a loan. On the one hand, under the loan agreement, things are transferred into ownership of the borrower. And according to paragraph 1 of Article 39 of the Tax Code of the Russian Federation, for tax purposes, the transfer of ownership is an implementation. Therefore, such transactions are subject to VAT.
On the other hand, the financial and economic meaning of a commodity loan is the transfer of goods (property, things) for temporary use to another person. And therefore it can be considered by analogy with a lease or free use agreement. Then no sale of these goods (property, things) occurs. There is only a transfer of ownership for their temporary use, for which an appropriate fee should be established. This fee should be the object of VAT taxation, and not the subject of the commodity loan agreement itself.
Let us consider in detail the first position - on the sale of the subject of the loan. In accordance with Article 39 of the Tax Code of the Russian Federation, the fact of sale of goods, work or services is determined by the following aspects:
a) transfer of ownership from one person - the seller to another person - the buyer;
b) obligation to make payments or free of charge.
The last condition is absent, since the borrower does not pay the lender for the goods, but returns the same goods (in accordance with the requirements of Article 807 of the Civil Code of the Russian Federation). In addition, there is no sales contract, sellers and buyers. And it is not possible to fulfill the requirements stipulated, in particular, by paragraph 2 of Article 169 of the Tax Code of the Russian Federation regarding the preparation by the seller and presentation of invoices to the buyer, etc.
In addition, when the lender accepts accounting policy for tax purposes “on payment”, the actual date of payment for the goods transferred under the loan does not occur, as provided for in Article 167 of the Tax Code of the Russian Federation. After all, the return of goods by the borrower does not fall under the concept of “termination of the counter-obligation of the purchaser of these goods to the taxpayer, which is directly related to the supply of these goods,” provided for in paragraphs 1, 2 and 3 of paragraph 2 of Article 167 of the Tax Code of the Russian Federation. Funds are not credited to the current account.
Therefore, in accordance with Article 39, it seems impossible to qualify commodity loan agreements for the purposes of Chapter 21 of the Tax Code of the Russian Federation as the sale of property. There is an object of taxation, but turnover subject to VAT does not arise.
In addition, serious problems arise with the lender’s right to VAT reimbursement at the time of repayment of the loan, since, according to Articles 171-172 of the Tax Code of the Russian Federation, the requirements stipulated for deducting VAT amounts from the buyer will be violated.
It is more reasonable to temporarily, until the borrower repays the commodity loan, deprive the lender of the right to reimbursement (deduction) of VAT amounts on previously purchased and issued VAT reimbursement on goods, which are then transferred under the loan agreement. The legality of this approach is obvious, since the absence of an object subject to VAT when issuing a commodity loan implies the absence of the right to reimbursement (deduction) of the amounts of “input” VAT.
Example 9.
In March 2003, the enterprise entered into a loan agreement with another enterprise for a period of 2 months. The loan was issued in goods that the borrower is obliged to return in a similar assortment of similar quality. Actual cost the company's goods amount to 100,000 rubles. No interest is accrued under the agreement.
The following accounting entries are made in the lender's accounting:
Debit 58 subaccount 3 "Loans provided" Credit 41 (43, 01, 04, 10, etc.)
100,000 rub. - the cost of goods loaned under an interest-free trade loan agreement is taken into account.
VAT previously claimed for deduction on transferred goods, which needs to be restored, can be treated as a loan expense and reflected as part of operating expenses. But if we proceed from the requirements of clause 44 of the Accounting and Reporting Regulations, then the recoverable VAT can be included as actual costs in the initial cost of the loan.
Debit 91-2 (58-3) Credit 68
20,000 rub. - VAT is charged as operating expenses as a loss of the lender’s right to reimbursement of VAT previously claimed for deduction on transferred assets.
When repaying the loan:
Debit 41 Credit 58-3
100,000 rub. - goods loaned at the discount price are capitalized.
In accordance with paragraph 27 of PBU 19/02, when disposing of financial investments in the form of loans provided to other organizations, they are assessed at the original cost of each financial investment retiring from the given accounting units.
The example shows that the cost of the returned goods should remain the same, equal to the cost before its transfer, i.e. 100,000 rub.
Debit 68 subaccount "VAT calculations" Credit 91-1 (58-3)
20,000 rub. - VAT paid earlier when transferring the goods on loan is presented for deduction.
This means that goods have again become goods to be sold. And the taxpayer has the right to submit the “input” VAT on them for deduction from the budget.
When issuing a loan, this example shows that during the loan period they are distracted working capital the lender in the amount to pay VAT in connection with the gratuitous provision of services for the borrower. Therefore, the gratuitous nature of the service is not beneficial for the lender. In this regard, payment of interest is legal.
loan income
If the agreement provides for the accrual of interest, then it is necessary to clearly stipulate the value of the loaned assets at the time of their transfer. Otherwise, it will not be possible to determine the amount of interest payable to the lender. The organization accrues interest on loans received in the manner prescribed by the loan agreement.
Interest accrued under the loan agreement is operating income (clause 7 of the Accounting Regulations “Income of the Organization” (PBU 9/99)) and is reflected in accordance with the agreement by the accounting entry:
Debit 76 Credit 91 subaccount 1 "Other income"
Interest accrued under the loan agreement for the corresponding period.
Is interest received under a loan agreement subject to VAT? Some authors believe that when providing a loan in cash, interest is not subject to VAT on the basis of subclause 15, clause 3, article 149 of the Tax Code of the Russian Federation. However, some authors pay attention to clause 6 of Article 149 of the Tax Code of the Russian Federation - income (interest) received under a loan agreement in the absence of a license to carry out credit operations, are subject to VAT.
Let's turn to paragraph 28 Methodological recommendations on the application of Chapter 21 “Value Added Tax” of the Tax Code of the Russian Federation. It says here: “When applying subparagraph 15 of paragraph 3 of Article 149 of the Code, it should be borne in mind that in accordance with this paragraph, fees for the provision of a loan of funds are not subject to taxation. The provision of services for the provision of a loan in another form is subject to tax.” It is very important to note the fact that the object of VAT taxation is not the subject of the contract itself, but only the amount of payment for the provided temporary use of the transfer of ownership of the goods. Those. interest (fee) for the use of funds is not subject to VAT, but interest for the use of a commodity loan is subject to VAT.
Debit 91-2 Credit 68
VAT has been charged on the amount of interest under the loan agreement for inventory items.
For profit tax purposes according to the Tax Code of the Russian Federation, interest is non-operating income. If an enterprise uses the cash method of determining income and expenses, then they must be reflected in tax accounting only after they are received (Article 273 of the Tax Code of the Russian Federation).
If an enterprise determines the tax base using the accrual method, then interest is reflected in tax accounting in the period when it must be accrued under the agreement. This is established in the Tax Code of the Russian Federation. In the income tax return they are shown on line 030 of sheet 02.
disclosure in financial statements
Since loans are unquoted financial investments, they are reflected in the financial statements as of the reporting date at historical cost (clause 21 of PBU 19/02).
Let us pay attention to the new provisions stipulated by PBU 19/02 (clauses 23 and 37). For loans provided, the organization can calculate their valuation at discounted value. In this case, no accounting entries are made. The organization must provide evidence that the calculation is reasonable. If discounted value is used, then in the explanations to the balance sheet and profit and loss statement (clause 42 of PBU 19/02) data on the valuation of loans provided at this value, its value and the discounting methods used must be disclosed. This should be done if such information meets the materiality requirements.
For this type of investment, a sustainable significant decrease in their value may occur (clause 37 of PBU 19/02).
If at the end of the year, when checking for impairment of financial investments on loans provided, information appeared that the debtor under the loan agreement showed signs of bankruptcy or was declared bankrupt, the commercial organization creates a reserve for the impairment of financial investments. In this case, financial investments are shown in the financial statements at their original cost minus the created reserve. At the organization's option, the impairment test can be performed at the reporting dates of the interim financial statements*(1).
How provisions are created for the impairment of unquoted financial investments is described in Section 6 “Provisions for the impairment of unquoted financial investments.”
*(1)Reporting period- the period for which the organization must prepare financial statements. The organization must prepare interim financial statements for the month, quarter on an accrual basis from the beginning of the reporting year (clauses 4 and 48 of PBU 4/99 “Accounting statements of the organization”, approved by Order of the Ministry of Finance of the Russian Federation dated July 6, 1999 N 43n).
MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION
On approval of the Accounting Regulations “Accounting for Financial Investments” PBU 19/02
Document with changes made:
(Russian newspaper, N 242, October 27, 2006) (came into force starting with the annual financial statements for 2006);
(Rossiyskaya Gazeta, N 297, 12/31/2006) (came into force with financial statements in 2007);
(Rossiyskaya Gazeta, N 271, 12/01/2010) (came into force on January 1, 2011);
(Bulletin of normative acts federal bodies executive power, N 50, 12/13/2010) (came into force starting from the annual financial statements for 2010).
(Rossiyskaya Gazeta, N 147, 06/29/2012) (came into force starting from the annual financial statements for 2012);
(Official Internet portal of legal information www.pravo.gov.ru, 05/06/2015, N 0001201505060015).
____________________________________________________________________
In pursuance of the Program for reforming accounting in accordance with international financial reporting standards, approved by Decree of the Government of the Russian Federation of March 6, 1998 N 283 (Collection of Legislation of the Russian Federation, 1998, N 11, Art. 1290),
I order:
1. Approve the attached Accounting Regulations “Accounting for Financial Investments” PBU 19/02.
2. Declare invalid the order of the Ministry of Finance of the Russian Federation dated January 15, 1997 No. 2 “On the procedure for reflecting transactions with securities in accounting” (the order was registered with the Ministry of Justice of the Russian Federation on June 10, 1997, registration No. 1324).
3. Put this order into effect starting with the financial statements for 2003.
Minister
A. Kudrin
Registered
at the Ministry of Justice
Russian Federation
December 27, 2002,
registration N 4085
Accounting Regulations "Accounting for Financial Investments" PBU 19/02
Application
to the order of the Ministry of Finance
Russian Federation
dated December 10, 2002 N 126n
I. General provisions
1. These Regulations establish the rules for the formation in accounting and financial reporting of information about the organization’s financial investments. The organization hereinafter means entity according to the legislation of the Russian Federation (with the exception of credit institutions and state (municipal) institutions) (paragraph as amended, put into effect on January 1, 2011 by order of the Ministry of Finance of Russia dated October 25, 2010 N 132n.
This Regulation is applied when establishing the specifics of accounting for financial investments for professional participants in the securities market, insurance organizations, and non-state pension funds.
2. For the purposes of these Regulations, in order to accept assets for accounting as financial investments, the following conditions must be simultaneously met:
the presence of properly executed documents confirming the existence of the organization’s right to financial investments and to receive funds or other assets arising from this right;
transition to organization financial risks related to financial investments (price change risk, debtor insolvency risk, liquidity risk, etc.);
the ability to bring economic benefits (income) to the organization in the future in the form of interest, dividends, or an increase in their value (in the form of the difference between the sale (redemption) price of a financial investment and its purchase value, as a result of its exchange, use in repaying the organization’s obligations, an increase in the current market cost, etc.).
3. Financial investments of an organization include: state and municipal securities, securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills); contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies); loans provided to other organizations, deposits in credit institutions, receivables acquired on the basis of assignment of claims, etc.
For the purposes of these Regulations, contributions from a partner organization under a simple partnership agreement are also taken into account as part of financial investments.
The organization's financial investments do not include:
treasury shares joint stock company from shareholders for subsequent resale or cancellation;
bills issued by the organization-promissory note to the organization-seller when paying for goods sold, products, work performed, services rendered;
investments of an organization in real estate and other property that has a tangible form, provided by the organization for a fee for temporary use (temporary possession and use) for the purpose of generating income;
precious metals, jewelry, works of art and other similar valuables not acquired for the purpose of common species activities.
4. Assets that have a material form, such as fixed assets, material productive reserves, and intangible assets are not financial investments.
5. The accounting unit for financial investments is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these investments, as well as proper control over their availability and movement. Depending on the nature of the financial investments, the order of their acquisition and use, the unit of financial investments can be a series, batch, etc. homogeneous set of financial investments.
6. The organization maintains analytical accounting of financial investments in such a way as to provide information on the accounting units of financial investments and the organizations in which these investments are made (issuers of securities, other organizations in which the organization is a participant, borrowing organizations, etc.) .
For government securities and securities of other organizations accepted for accounting, analytical accounting must contain at least the following information: name of the issuer and name of the security, number, series, etc., nominal price, purchase price, expenses associated with acquisition of securities, total quantity, date of purchase, date of sale or other disposal, place of storage.
An organization can form in analytical accounting Additional information about the organization’s financial investments, including by their groups (types).
7. Features of assessment and additional rules for disclosing information on financial investments in dependent business companies in financial statements are established separately normative act in accounting.
II. Initial assessment of financial investments
8. Financial investments are accepted for accounting at their original cost.
9. The initial cost of financial investments acquired for a fee is recognized as the amount of the organization’s actual costs for their acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by law Russian Federation on taxes and fees).
The actual costs of acquiring assets as financial investments are:
amounts paid in accordance with the contract to the seller;
amounts paid to organizations and other persons for information and consulting services related to the acquisition of these assets. If an organization is provided with information and consulting services related to making a decision on the acquisition of financial investments, and the organization does not make a decision on such acquisition, the cost of these services is included in the financial results of a commercial organization (as part of other expenses) or an increase in the expenses of a non-profit organization of that reporting period, when it was decided not to acquire financial investments (paragraph as amended, put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n;
remuneration paid to an intermediary organization or other person through which assets were acquired as financial investments;
other costs directly related to the acquisition of assets as financial investments.
When purchasing financial investments using borrowed funds, the costs of received loans and borrowings are taken into account in accordance with the Accounting Regulations "Expenses of the Organization" PBU 10/99, approved by Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 N 33n (registered with the Ministry of Justice of the Russian Federation Federation May 31, 1999, registration N 1790) and the Accounting Regulations “Accounting for loans and credits and the costs of servicing them” PBU 15/01, approved by order of the Ministry of Finance of the Russian Federation dated August 2, 2001 N 60n (according to the letter of the Ministry of Justice of the Russian Federation dated September 7, 2001 N 07/8985-UD the order does not need state registration).
General and other similar expenses are not included in the actual costs of acquiring financial investments, except when they are directly related to the acquisition of financial investments.
10. The item has been excluded from the financial statements since 2007 by order of the Ministry of Finance of Russia dated November 27, 2006 N 156n..
11. If the amount of costs (except for the amounts paid in accordance with the agreement to the seller) for the acquisition of such financial investments as securities is insignificant compared to the amount paid in accordance with the agreement to the seller, the organization has the right to recognize such costs as other expenses of the organization in that reporting period in which the specified securities were accepted for accounting (clause as amended, put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
12. The initial cost of financial investments made as a contribution to the authorized (share) capital of an organization is recognized as their monetary value agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation.
13. The initial cost of financial investments received by an organization free of charge, such as securities, is recognized as:
their current market value as of the date of acceptance for accounting. For the purposes of these Regulations, the current market value of securities is understood as their market price, calculated in the prescribed manner by the organizer of trading on the securities market;
the amount of funds that can be received as a result of the sale of received securities on the date of their acceptance for accounting - for securities for which the market price is not calculated by the organizer of trading on the securities market.
14. The initial cost of financial investments acquired under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the value of assets transferred or to be transferred by the organization. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.
If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of financial investments received by the organization under agreements providing for the fulfillment of obligations (payment) in non-monetary means is determined based on the cost at which similar financial investments are acquired in comparable circumstances.
15. The initial cost of financial investments contributed to the contribution of the organization - a partner under a simple partnership agreement is recognized as their monetary value, agreed upon by the partners in the simple partnership agreement.
16. The item has been excluded from the financial statements since 2007 by order of the Ministry of Finance of Russia dated November 27, 2006 N 156n..
17. Securities that do not belong to the organization by right of ownership, economic management or operational management, but are in its use or disposal in accordance with the terms of the agreement, are accepted for accounting in the assessment provided for in the agreement.
III. Subsequent assessment of financial investments
18. The initial cost of financial investments at which they are accepted for accounting may change in cases established by law and these Regulations.
19. For the purposes of subsequent assessment, financial investments are divided into two groups: financial investments for which the current market value can be determined in the manner prescribed by these Regulations, and financial investments for which their current market value is not determined.
Organizations that have the right to use simplified accounting methods, including simplified accounting (financial) statements, can carry out a subsequent assessment of all financial investments in the manner established by these Regulations for financial investments for which their current market value is not determined. At the same time, these organizations may decide not to reflect the impairment of financial investments in accounting in cases where calculating the amount of such impairment is difficult.
(The paragraph was additionally included starting from the annual financial statements for 2010 by order of the Ministry of Finance of Russia dated November 8, 2010 N 144n; as amended, put into effect starting from the annual financial statements for 2012 by order of the Ministry of Finance of Russia dated April 27, 2012 N 55n; as amended , put into effect on May 17, 2015 by order of the Ministry of Finance of Russia dated April 6, 2015 N 57n.
20. Financial investments for which the current market value can be determined in the prescribed manner are reflected in the financial statements at the end of the reporting year at the current market value by adjusting their valuation as of the previous reporting date. The organization can make this adjustment monthly or quarterly.
The difference between the assessment of financial investments at the current market value as of the reporting date and the previous assessment of financial investments is attributed to the financial results of a commercial organization (as part of other income or expenses) or an increase in income or expenses of a non-profit organization in correspondence with the financial investment account (paragraph in the edition put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
21. Financial investments for which the current market value is not determined are subject to reflection in accounting and financial statements as of the reporting date at their original cost.
22. For debt securities for which the current market value is not determined, the organization is allowed to attribute the difference between the initial cost and the nominal value during the period of their circulation evenly as income is due on them in accordance with the terms of issue to the financial results of the commercial organization (as part of other income or expenses) or a decrease or increase in expenses of a non-profit organization (clause as amended, put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
23. For debt securities and granted loans, an organization can calculate their valuation at a discounted value. In this case, no accounting entries are made.
The organization must provide evidence that the calculation is reasonable.
24. Financial investments are reflected in the balance sheet as of the reporting date at a cost determined based on the requirements of these Regulations.
If the current market value is not determined for an object of financial investment previously valued at the current market value, such object of financial investment is reflected in the financial statements at the value of its last valuation.
IV. Disposal of financial investments
25. The disposal of financial investments is recognized in the accounting records of the organization on the date of termination of the conditions for their acceptance for accounting, given in paragraph 2 of these Regulations.
by order of the Ministry of Finance of Russia dated April 6, 2015 N 57n.
Disposal of financial investments takes place in cases of redemption, sale, gratuitous transfer, transfer in the form of a contribution to the authorized (share) capital of other organizations, transfer on account of a contribution under a simple partnership agreement, etc.
26. When disposing of an asset accepted for accounting as a financial investment for which the current market value is not determined, its value is determined based on an assessment determined in one of the following ways:
at the initial cost of each accounting unit of financial investments;
at the average initial cost;
at the original cost of the first financial investments acquired (FIFO method).
The application of one of the specified methods for a group (type) of financial investments is based on the assumption of consistency in the application of accounting policies.
Advertisement accounting of financial investments.
28. Securities may be valued by the organization upon disposal at the average initial cost, which is determined for each type of securities as the quotient of dividing the initial cost of the type of securities by their quantity, consisting respectively of the initial cost and the amount of balance at the beginning of the month and the securities received in during a given month.
29. Valuation at the historical cost of the first financial investments acquired (FIFO method) is based on the assumption that securities are written off within a month or another period in the sequence of their acquisition (receipt), i.e. the first securities to be written off must be valued at the original cost of the securities of the first acquisitions, taking into account the original cost of the securities listed at the beginning of the month. When applying this method, the valuation of securities in balance at the end of the month is made at the original cost of the latest acquisitions, and the cost of the securities sold takes into account the cost of the earlier acquisitions.
30. When disposing of assets accepted for accounting as financial investments for which the current market value is determined, their value is determined by the organization based on the latest assessment.
31. For each group (type) of financial investments during the reporting year, one assessment method is used.
32. The assessment of financial investments at the end of the reporting period is carried out depending on the accepted method for assessing financial investments upon their disposal, i.e. at the current market value, at the original cost of each accounting unit of financial investments, at the average original cost, at the original cost of the first financial investments acquired (FIFO method).
33. Examples of the use of valuation methods when disposing of financial investments are given in the appendix to these Regulations.
V. Income and expenses on financial investments
34. Income from financial investments is recognized as income from ordinary activities or other income in accordance with the Accounting Regulations “Income of the Organization” PBU 9/99, approved by Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 N 32n (registered with the Ministry of Justice of the Russian Federation Federation May 31, 1999, registration N 1791).
35. Expenses associated with the provision of loans by an organization to other organizations are recognized as other expenses of the organization (clause as amended, put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
36. Expenses associated with servicing an organization’s financial investments, such as payment for bank and/or depository services for storing financial investments, providing an extract from a securities account, etc. are recognized as other expenses of the organization (clause as amended, put into effect starting from the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
VI. Impairment of financial investments
37. A sustained significant decrease in the value of financial investments for which their current market value is not determined, below the amount of economic benefits that the organization expects to receive from these financial investments under normal conditions of its activities, is recognized as depreciation of financial investments. In this case, based on the organization’s calculations, the estimated value of financial investments is determined, equal to the difference between their value at which they are reflected in accounting (accounting value) and the amount of such reduction.
A steady decline in the value of financial investments is characterized by the simultaneous presence of the following conditions:
at the reporting date and at the previous reporting date, the accounting value is significantly higher than their estimated value;
during the reporting year, the estimated value of financial investments changed significantly only in the direction of its decrease;
As of the reporting date, there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future.
Examples of situations in which impairment of financial investments may occur are:
the issuing organization of securities owned by the organization or its debtor under a loan agreement has signs of bankruptcy or is declared bankrupt;
execution of a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value;
absence or significant decrease in income from financial investments in the form of interest or dividends with a high probability of a further decrease in these income in the future, etc.
38. If a situation arises in which depreciation of financial investments may occur, the organization must check the existence of conditions for a sustainable decrease in the value of financial investments.
This check is carried out for all financial investments of the organization specified in paragraph 37 of these Regulations, for which there are signs of impairment.
If the impairment test confirms a sustained significant decline in the value of financial investments, the organization creates a reserve for impairment of financial investments in the amount of the difference between the book value and the estimated value of such financial investments.
A commercial organization forms the specified reserve at the expense of the financial results of the organization (as part of other expenses), and a non-profit organization - due to an increase in expenses (paragraph as amended, put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n .
In the financial statements, the value of such financial investments is shown at book value minus the amount of the formed reserve for their depreciation.
A check for impairment of financial investments is carried out at least once a year as of December 31 of the reporting year if there are signs of impairment. The organization has the right to carry out this check on the reporting dates of the interim financial statements.
The organization must provide confirmation of the results of this inspection.
39. If, based on the results of an audit for impairment of financial investments, a further decrease in their estimated value is revealed, then the amount of the previously created reserve for impairment of financial investments is adjusted towards its increase and decrease in the financial result of a commercial organization (as part of other expenses) or an increase in expenses for a non-profit organization (paragraph as amended, put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
If, as a result of checking for impairment of financial investments, an increase in their estimated value is revealed, then the amount of the previously created reserve for impairment of financial investments is adjusted towards its decrease and increase in the financial result of a commercial organization (as part of other income) or decrease in expenses for a non-profit organization (paragraph in the edition put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
40. If, based on available information, the organization concludes that a financial investment no longer meets the criteria for a sustainable significant decline in value, as well as upon disposal of financial investments, the estimated value of which was included in the calculation of the reserve for impairment of financial investments, the amount of the previously created reserve for impairment for the specified financial investments is included in the financial results of a commercial organization (as part of other income) or a decrease in expenses in a non-profit organization at the end of the year or the reporting period when the disposal of the specified financial investments occurred (clause as amended, put into effect starting from the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n.
VI. Disclosure of information in financial statements
VII. Disclosure of information in financial statements
41. In financial statements, financial investments must be presented with a division depending on the maturity period (maturity) into short-term and long-term.
42. In the financial statements, at least the following information is subject to disclosure, taking into account the materiality requirement:
methods for assessing financial investments upon their disposal by groups (types);
the consequences of changes in the methods of assessing financial investments upon their disposal;
the value of financial investments for which the current market value can be determined, and financial investments for which the current market value cannot be determined;
the difference between the current market value as of the reporting date and the previous assessment of financial investments by which the current market value was determined;
for debt securities for which the current market value has not been determined - the difference between the initial value and the nominal value during the period of their circulation, accrued in accordance with the procedure established by paragraph 22 of these Regulations;
value and types of securities and other financial investments encumbered with collateral;
the value and types of retired securities and other financial investments transferred to other organizations or persons (except for sale);
data on the reserve for impairment of financial investments, indicating: the type of financial investments, the amount of the reserve created in the reporting year, the amount of the reserve recognized as other income of the reporting period; reserve amounts used in the reporting year (paragraph as amended, put into effect starting with the annual financial statements for 2006 by order of the Ministry of Finance of Russia dated September 18, 2006 N 116n;
for debt securities and loans provided - data on their valuation at discounted value, on the value of their discounted value, on the discounting methods used (disclosed in the notes to the balance sheet and the financial statement). financial results).
(Paragraph as amended, put into effect on May 17, 2015 by order of the Ministry of Finance of Russia dated April 6, 2015 N 57n.
Appendix to the Regulations. Examples of using valuation methods when disposing of financial investments
Application
to the Accounting Regulations
"Accounting for financial investments" PBU 19/02,
approved by order of the Ministry of Finance
Russian Federation dated December 10, 2002 N 126n
1. Valuation method based on the original cost of each
financial investment accounting units
The cost of retiring financial investments is equal in this case to their original cost.
2. Valuation method based on average initial cost
The cost of securities being written off is determined by multiplying the number of retired securities (for example, shares of OJSC "S") by the average initial cost of one security of this type (shares of OJSC "S"). The average initial cost of one security of a given type is calculated as the quotient of dividing the cost of securities of a given type by their quantity, respectively, consisting of the cost and quantity of the balance at the beginning of the month and of securities received in that month.
Example 1 (data are provided for one type of securities)
price per unit, thousand rubles. | amount, million rubles | Price per unit, thousand rub. | Amount, million rubles | price per one. thousand roubles. | amount, million rubles |
||||
Balance on the 1st | |||||||||
1) Average initial cost of one security:
(10.0 million rubles + 5.0 million rubles + 6.6 million rubles + 9.6 million rubles) / 290 = 107.6 thousand rubles.
2) Value of the balance of securities at the end of the month:
130 x 107.6 thousand rubles. = 14.0 million rubles.
3) Cost of retiring securities:
31.2 million rubles. - 14.0 million rubles. = 17.2 million rubles.
or:
160 x 107.6 thousand rubles. = 17.2 million rubles.
This method can also be applied within a month for each date of disposal of securities within the month, using the estimate of the balance of securities determined by the average initial cost method on the date of the previous transaction (the so-called moving average initial cost method).
3. Method of valuation based on the original cost of the first
by time of acquisition of financial investments (FIFO method)
Valuation of securities using the FIFO method is based on the assumption that securities are sold within a month in the sequence of their receipt (purchase), i.e. the securities that first went on sale must be valued at the original cost of the first ones acquired, taking into account the value of the securities listed at the beginning of the month. When applying this method, the valuation of securities in balance at the end of the month is carried out at the actual cost of the most recent acquisition, and the cost of sale (disposal) of securities takes into account the cost of the earlier acquisition.
The cost of retiring securities is determined by subtracting from the sum of the value of the balance of securities at the beginning of the month and the cost of securities received during the month the value of the balance of securities at the end of the month.
price per unit, thousand rubles | amount, million rubles | price per unit, thousand rubles. | amount, million rubles | price per unit, thousand rubles. | Amount, million rubles |
||||
Balance on the 1st | |||||||||
1) The value of the balance of securities at the end of the month based on the value of the latest receipts:
(80 x 120 thousand rubles) + (50 x 110 thousand rubles) = 15.1 million rubles.
2) Cost of retiring securities:
31.2 million rubles. - 15.1 million rubles. = 16.1 million rubles.
3) Unit cost of retiring securities:
16.1 million rubles/160 = 100.6 thousand rubles.
This method can also be applied within a month for each date of disposal of securities within the month, using the estimate of the balance of securities determined by the FIFO method as of the date of the previous transaction (the so-called rolling FIFO method).
Revision of the document taking into account
changes and additions prepared
JSC "Kodeks"
“On the procedure for reflecting transactions with securities in accounting” (Order registered with the Ministry of Justice of the Russian Federation on June 10, 1997, registration number 1324).
3. Put this Order into effect starting with the financial statements for 2003.
Minister
A.L. KUDRIN
ACCOUNTING REGULATIONS "ACCOUNTING FOR FINANCIAL INVESTMENTS"
PBU 19/02
I. General provisions
1. These Regulations establish the rules for the formation in accounting and financial reporting of information about the organization’s financial investments. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and state (municipal) institutions). (as amended by Order of the Ministry of Finance of the Russian Federation dated October 25, 2010 N 132n)
This Regulation is applied when establishing the specifics of accounting for financial investments for professional participants in the securities market, insurance organizations, and non-state pension funds.
2. For the purposes of these Regulations, in order to accept assets for accounting as financial investments, the following conditions must be simultaneously met:
the presence of properly executed documents confirming the existence of the organization’s right to financial investments and to receive funds or other assets arising from this right;
transition to organizing financial risks associated with financial investments (risk of price changes, risk of debtor insolvency, liquidity risk, etc.);
the ability to bring economic benefits (income) to the organization in the future in the form of interest, dividends or an increase in their value (in the form of the difference between the sale (redemption) price of a financial investment and its purchase value, as a result of its exchange, use in repaying the organization’s obligations, an increase in the current market cost, etc.).
3. Financial investments of an organization include: state and municipal securities, securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills); contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies); loans provided to other organizations, deposits in credit institutions, receivables acquired on the basis of assignment of claims, etc.
For the purposes of these Regulations, contributions from an organization that is a partner under a simple partnership agreement are also taken into account as part of financial investments.
The organization's financial investments do not include:
own shares purchased by the joint-stock company from shareholders for subsequent resale or cancellation;
bills issued by the organization - the drawer of the bill to the organization - the seller when paying for goods sold, products, work performed, services rendered;
investments of an organization in real estate and other property that has a material form, provided by the organization for a fee for temporary use (temporary possession and use) for the purpose of generating income;
precious metals, jewelry, works of art and other similar valuables acquired for purposes other than normal activities.
4. Assets that have a tangible form, such as fixed assets, inventories, as well as intangible assets are not financial investments.
5. The accounting unit for financial investments is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these investments, as well as proper control over their availability and movement. Depending on the nature of the financial investments, the order of their acquisition and use, the unit of financial investments can be a series, batch, etc. homogeneous set of financial investments.
6. The organization maintains analytical accounting of financial investments in such a way as to provide information on the accounting units of financial investments and the organizations in which these investments were made (issuers of securities, other organizations in which the organization is a participant, borrowing organizations, etc.) .
For government securities and securities of other organizations accepted for accounting, analytical accounting must contain at least the following information: name of the issuer and name of the security, number, series, etc., nominal price, purchase price, expenses associated with acquisition of securities, total quantity, date of purchase, date of sale or other disposal, place of storage.
An organization can generate in analytical accounting additional information about the organization’s financial investments, including by their groups (types).
7. Features of the assessment and additional rules for disclosing information on financial investments in dependent business companies in financial statements are established by a separate regulatory act on accounting.
II. Initial assessment of financial investments
8. Financial investments are accepted for accounting at their original cost.
9. The initial cost of financial investments acquired for a fee is recognized as the amount of the organization’s actual costs for their acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation on taxes and fees).
The actual costs of acquiring assets as financial investments are:
amounts paid in accordance with the contract to the seller;
amounts paid to organizations and other persons for information and consulting services related to the acquisition of these assets. If an organization is provided with information and consulting services related to making a decision on the acquisition of financial investments, and the organization does not make a decision on such acquisition, the cost of these services is included in the financial results of a commercial organization (as part of other expenses) or an increase in the expenses of a non-profit organization of that reporting period when the decision was made not to purchase financial investments; (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
remuneration paid to an intermediary organization or other person through which assets were acquired as financial investments;
other costs directly related to the acquisition of assets as financial investments.
When purchasing financial investments using borrowed funds, the costs of received loans and borrowings are taken into account in accordance with the Accounting Regulations "Expenses of the Organization" PBU 10/99, approved by Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 N 33n (registered with the Ministry of Justice Russian Federation, registration N 1790, dated May 31, 1999) and the Accounting Regulations “Accounting for loans and credits and the costs of servicing them” PBU 15/01, approved by Order of the Ministry of Finance of the Russian Federation dated August 2, 2001 N 60n ( according to the letter of the Ministry of Justice of the Russian Federation dated September 7, 2001 N 07/8985-UD The Order does not require state registration).
In connection with the loss of force of the Order of the Ministry of Finance of the Russian Federation dated 08/02/2001 N 60n, one should be guided by the Order of the Ministry of Finance of the Russian Federation dated 06.10.2008 N 107n adopted in its place.
General and other similar expenses are not included in the actual costs of acquiring financial investments, except when they are directly related to the acquisition of financial investments.
10. Item excluded. (as amended by Order of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n)
11. If the amount of costs (except for the amounts paid in accordance with the agreement to the seller) for the acquisition of such financial investments as securities is insignificant compared to the amount paid in accordance with the agreement to the seller, the organization has the right to recognize such costs as other expenses of the organization in the reporting period in which the specified securities were accepted for accounting. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
12. The initial cost of financial investments made as a contribution to the authorized (share) capital of an organization is recognized as their monetary value agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation.
13. The initial cost of financial investments received by an organization free of charge, such as securities, is recognized as:
their current market value as of the date of acceptance for accounting. For the purposes of these Regulations, the current market value of securities is understood as their market price, calculated in the prescribed manner by the organizer of trading on the securities market;
the amount of funds that can be received as a result of the sale of received securities on the date of their acceptance for accounting - for securities for which the market price is not calculated by the organizer of trading on the securities market.
14. The initial cost of financial investments acquired under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the value of assets transferred or to be transferred by the organization. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.
If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of financial investments received by the organization under agreements providing for the fulfillment of obligations (payment) in non-monetary means is determined based on the cost at which similar financial investments are acquired in comparable circumstances.
15. The initial cost of financial investments contributed to the contribution of the organization - a partner under a simple partnership agreement is recognized as their monetary value, agreed upon by the partners in the simple partnership agreement.
16. Item excluded. (as amended by Order of the Ministry of Finance of the Russian Federation dated November 27, 2006 N 156n)
17. Securities that do not belong to the organization by right of ownership, economic management or operational management, but are in its use or disposal in accordance with the terms of the agreement, are accepted for accounting in the assessment provided for in the agreement.
III. Subsequent assessment of financial investments
18. The initial cost of financial investments at which they are accepted for accounting may change in cases established by law and these Regulations.
19. For the purposes of subsequent assessment, financial investments are divided into two groups: financial investments for which the current market value can be determined in the manner prescribed by these Regulations, and financial investments for which their current market value is not determined.
Organizations that have the right to use simplified accounting methods, including simplified accounting (financial) statements, can carry out a subsequent assessment of all financial investments in the manner established by these Regulations for financial investments for which their current market value is not determined. At the same time, these organizations may decide not to reflect the impairment of financial investments in accounting in cases where calculating the amount of such impairment is difficult. (as amended by Orders of the Ministry of Finance of the Russian Federation dated November 8, 2010 N 144n, dated April 27, 2012 N 55n, dated April 6, 2015 N 57n)
20. Financial investments for which the current market value can be determined in the prescribed manner are reflected in the financial statements at the end of the reporting year at the current market value by adjusting their valuation as of the previous reporting date. The organization can make this adjustment monthly or quarterly.
The difference between the assessment of financial investments at the current market value as of the reporting date and the previous assessment of financial investments is attributed to the financial results of a commercial organization (as part of other income or expenses) or an increase in income or expenses of a non-profit organization in correspondence with the financial investment account. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
21. Financial investments for which the current market value is not determined are subject to reflection in accounting and financial statements as of the reporting date at their original cost.
22. For debt securities for which the current market value is not determined, the organization is allowed to attribute the difference between the initial value and the nominal value during the period of their circulation evenly as income is due on them in accordance with the terms of issue to the financial results of the commercial organization (as part of other income or expenses) or a decrease or increase in expenses of a non-profit organization. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
23. For debt securities and granted loans, an organization can calculate their valuation at a discounted value. In this case, no accounting entries are made.
The organization must provide evidence that the calculation is reasonable.
24. Financial investments are reflected in the balance sheet as of the reporting date at a cost determined based on the requirements of these Regulations.
If the current market value is not determined for an object of financial investment previously valued at the current market value, such object of financial investment is reflected in the financial statements at the value of its last valuation.
IV. Disposal of financial investments
25. The disposal of financial investments is recognized in the accounting records of the organization on the date of termination of the conditions for their acceptance for accounting, given in paragraph 2 of these Regulations. (as amended by Order of the Ministry of Finance of the Russian Federation dated 04/06/2015 N 57n)
Disposal of financial investments takes place in cases of redemption, sale, gratuitous transfer, transfer in the form of a contribution to the authorized (share) capital of other organizations, transfer on account of a contribution under a simple partnership agreement, etc.
26. When disposing of an asset accepted for accounting as a financial investment for which the current market value is not determined, its value is determined based on an assessment determined in one of the following ways:
at the initial cost of each accounting unit of financial investments;
at the average initial cost;
at the original cost of the first financial investments acquired (FIFO method).
The application of one of the specified methods for a group (type) of financial investments is based on the assumption of consistency in the application of accounting policies.
Advertisement accounting of financial investments.
28. Securities may be valued by the organization upon disposal at the average initial cost, which is determined for each type of securities as the quotient of dividing the initial cost of the type of securities by their quantity, consisting respectively of the initial cost and the amount of balance at the beginning of the month and the securities received in during a given month.
29. Valuation at the historical cost of the first financial investments acquired (FIFO method) is based on the assumption that securities are written off within a month or another period in the sequence of their acquisition (receipt), i.e. the first securities to be written off must be valued at the original cost of the securities of the first acquisitions, taking into account the original cost of the securities listed at the beginning of the month. When applying this method, the valuation of securities in balance at the end of the month is made at the original cost of the latest acquisitions, and the cost of the securities sold takes into account the cost of the earlier acquisitions.
30. When disposing of assets accepted for accounting as financial investments for which the current market value is determined, their value is determined by the organization based on the latest assessment.
31. For each group (type) of financial investments during the reporting year, one assessment method is used.
32. The assessment of financial investments at the end of the reporting period is carried out depending on the accepted method for assessing financial investments upon their disposal, i.e. at the current market value, at the original cost of each accounting unit of financial investments, at the average original cost, at the original cost of the first financial investments acquired (FIFO method).
33. Examples of the use of valuation methods when disposing of financial investments are given in the appendix to these Regulations.
V. Income and expenses on financial investments
34. Income from financial investments is recognized as income from ordinary activities or other income in accordance with the Accounting Regulations “Income of the Organization” PBU 9/99, approved by Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 N 32n (registered with the Ministry of Justice Russian Federation May 31, 1999, registration number 1791).
35. Expenses associated with the provision of loans by an organization to other organizations are recognized as other expenses of the organization. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
36. Expenses associated with servicing the financial investments of an organization, such as payment for bank and/or depository services for storing financial investments, providing an extract from a securities account, etc., are recognized as other expenses of the organization. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
VI. Impairment of financial investments
37. A sustained significant decrease in the value of financial investments for which their current market value is not determined, below the amount of economic benefits that the organization expects to receive from these financial investments under normal conditions of its activities, is recognized as depreciation of financial investments. In this case, based on the organization’s calculations, the estimated value of financial investments is determined, equal to the difference between their value at which they are reflected in accounting (accounting value) and the amount of such reduction.
A steady decline in the value of financial investments is characterized by the simultaneous presence of the following conditions:
at the reporting date and at the previous reporting date, the accounting value is significantly higher than their estimated value;
during the reporting year, the estimated value of financial investments changed significantly only in the direction of its decrease;
As of the reporting date, there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future.
Examples of situations in which impairment of financial investments may occur are:
the appearance of signs of bankruptcy in the organization - the issuer of securities owned by the organization, or its debtor under the loan agreement, or the declaration of bankruptcy;
execution of a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value;
absence or significant decrease in income from financial investments in the form of interest or dividends with a high probability of a further decrease in these income in the future, etc.
38. If a situation arises in which depreciation of financial investments may occur, the organization must check the existence of conditions for a sustainable decrease in the value of financial investments.
This check is carried out for all financial investments of the organization specified in paragraph 37 of these Regulations, for which there are signs of impairment.
If the impairment test confirms a sustained significant decline in the value of financial investments, the organization creates a reserve for impairment of financial investments in the amount of the difference between the book value and the estimated value of such financial investments.
A commercial organization forms the specified reserve at the expense of the organization’s financial results (as part of other expenses), and a non-profit organization - through an increase in expenses. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
In the financial statements, the value of such financial investments is shown at book value minus the amount of the formed reserve for their depreciation.
A check for impairment of financial investments is carried out at least once a year as of December 31 of the reporting year if there are signs of impairment. The organization has the right to carry out this check on the reporting dates of the interim financial statements.
The organization must provide confirmation of the results of this inspection.
39. If, based on the results of an audit for impairment of financial investments, a further decrease in their estimated value is revealed, then the amount of the previously created reserve for impairment of financial investments is adjusted towards its increase and decrease in the financial result of a commercial organization (as part of other expenses) or an increase in expenses for a non-profit organization . (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
If, as a result of checking for impairment of financial investments, an increase in their estimated value is revealed, then the amount of the previously created reserve for impairment of financial investments is adjusted towards its decrease and increase in the financial result of a commercial organization (as part of other income) or decrease in expenses for a non-profit organization. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
40. If, based on available information, the organization concludes that a financial investment no longer meets the criteria for a sustainable significant decline in value, as well as upon disposal of financial investments, the estimated value of which was included in the calculation of the reserve for impairment of financial investments, the amount of the previously created reserve for impairment for the specified financial investments is included in the financial results of a commercial organization (as part of other income) or a decrease in expenses in a non-profit organization at the end of the year or the reporting period when the disposal of the specified financial investments occurred. (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
VII. Disclosure of information in financial statements
41. In financial statements, financial investments must be presented with a division depending on the maturity period (maturity) into short-term and long-term.
42. In the financial statements, at least the following information is subject to disclosure, taking into account the materiality requirement:
on methods for assessing financial investments upon their disposal by groups (types);
on the consequences of changes in the methods of assessing financial investments upon their disposal;
the value of financial investments for which the current market value can be determined, and financial investments for which the current market value cannot be determined;
the difference between the current market value as of the reporting date and the previous assessment of financial investments by which the current market value was determined;
for debt securities for which the current market value has not been determined - the difference between the initial value and the nominal value during the period of their circulation, accrued in accordance with the procedure established by paragraph 22 of these Regulations;
value and types of securities and other financial investments encumbered with collateral;
the value and types of retired securities and other financial investments transferred to other organizations or persons (except for sale);
data on the reserve for impairment of financial investments, indicating: the type of financial investments, the amount of the reserve created in the reporting year, the amount of the reserve recognized as other income of the reporting period; reserve amounts used in the reporting year; (as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 N 116n)
for debt securities and granted loans - data on their valuation at discounted value, on the value of their discounted value, on the discounting methods used (disclosed in the notes to the balance sheet and the income statement). (as amended by Order of the Ministry of Finance of the Russian Federation dated 04/06/2015 N 57n)
EXAMPLES OF USING VALUATION METHODS WHEN DISPOSING FINANCIAL INVESTMENTS
1. Method of assessing the initial cost of each accounting unit of financial investments
The cost of retiring financial investments is equal in this case to their original cost.
2. Valuation method based on average initial cost
The cost of securities being written off is determined by multiplying the number of retired securities (for example, shares of OJSC "S") by the average initial cost of one security of this type (shares of OJSC "S"). The average initial cost of one security of a given type is calculated as the quotient of dividing the cost of securities of a given type by their quantity, respectively, consisting of the cost and quantity of the balance at the beginning of the month and of securities received in that month.
Example 1 (data are provided for one type of securities).
| date | Coming | Consumption | Remainder | ||||||
| quantity | price per unit, thousand rubles. | amount, million rubles | quantity | price per unit, thousand rubles. | amount, million rubles | quantity | price per unit, thousand rubles. | amount, million rubles | |
| Balance on the 1st | 100 | 100 | 10,0 | 100 | 100 | 10,0 | |||
| 10th | 50 | 100 | 5,0 | 60 | 90 | ||||
| 15th | 60 | 110 | 6,6 | 100 | 50 | ||||
| 20th | 80 | 120 | 9,6 | 130 | |||||
| Total | 290 | 31,2 | 160 | 107,6 | 17,2 | 130 | 107,6 | 14,0 | |
1) Average initial cost of one security.
1. These Regulations establish the rules for the formation in accounting and financial reporting of information about the organization’s financial investments. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and state (municipal) institutions).
This Regulation is applied when establishing the specifics of accounting for financial investments for professional participants in the securities market, insurance organizations, and non-state pension funds.
2. For the purposes of these Regulations, in order to accept assets for accounting as financial investments, the following conditions must be simultaneously met:
the presence of properly executed documents confirming the existence of the organization’s right to financial investments and to receive funds or other assets arising from this right;transition to organizing financial risks associated with financial investments (risk of price changes, risk of debtor insolvency, liquidity risk, etc.);
the ability to bring economic benefits (income) to the organization in the future in the form of interest, dividends or an increase in their value (in the form of the difference between the sale (redemption) price of a financial investment and its purchase value as a result of its exchange, use in repaying the organization’s obligations, an increase in the current market value and so on.).
3. Financial investments of an organization include: state and municipal securities, securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills); contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies); loans provided to other organizations, deposits in credit institutions, receivables acquired on the basis of assignment of claims, etc.
For the purposes of these Regulations, contributions from a partner organization under a simple partnership agreement are also taken into account as part of financial investments.
The organization's financial investments do not include:
own shares purchased by the joint-stock company from shareholders for subsequent resale or cancellation;bills issued by the organization-promissory note to the organization-seller when paying for goods sold, products, work performed, services rendered;
investments of an organization in real estate and other property that has a tangible form, provided by the organization for a fee for temporary use (temporary possession and use) for the purpose of generating income;
precious metals, jewelry, works of art and other similar valuables acquired for purposes other than normal activities.
4. Assets that have a tangible form, such as fixed assets, inventories, as well as intangible assets are not financial investments.
5. The accounting unit for financial investments is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these investments, as well as proper control over their availability and movement. Depending on the nature of the financial investments, the order of their acquisition and use, the unit of financial investments can be a series, batch, etc. homogeneous set of financial investments.
6. The organization maintains analytical accounting of financial investments in such a way as to provide information on the accounting units of financial investments and the organizations in which these investments are made (issuers of securities, other organizations in which the organization is a participant, borrowing organizations, etc.) .
For government securities and securities of other organizations accepted for accounting, analytical accounting must contain at least the following information: name of the issuer and name of the security, number, series, etc., nominal price, purchase price, expenses associated with acquisition of securities, total quantity, date of purchase, date of sale or other disposal, place of storage.
An organization can generate in analytical accounting additional information about the organization’s financial investments, including by their groups (types).
7. Features of the assessment and additional rules for disclosing information on financial investments in dependent business companies in financial statements are established by a separate regulatory act on accounting.
1. These Regulations establish the rules for the formation in accounting and financial reporting of information about the organization’s financial investments. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and state (municipal) institutions).
USING VALUATION TECHNIQUES AT DISPOSAL
price per unit, thousand rubles.
amount, million rubles
price per unit, thousand rubles.
amount, million rubles
price per unit, thousand rubles.
amount, million rubles
Balance on the 1st