HOUSEHOLD SUPPLIES- a complex of fixed, working and Money enterprises, including cash on hand, etc. funds in settlements, diverted funds and other receivables. Sources H.s. are the authorized capital of the enterprise, remaining after taxes net profit, loans and advances, debt to suppliers and other accounts payable.
Classification of household assets- This is an element of business language developed over centuries, distinguished by its capacity, systematic presentation, and understandable to any interested user. The principle of balance. The original beginning accounting is the principle of balance, which is based on the fact that accounting considers the same economic assets of an enterprise from two points of view: from the point of view of their composition and functional role in the production process and from the point of view of the sources of formation (receipt) of these funds.
The composition of economic assets in accounting is called ASSET, sources of education (receipt) of economic funds - PASSIVE.
If we take into account that the reflection of economic assets by composition and by the sources of their formation in accounting is carried out in the same monetary measure, then the following equation will be fair: ASSET=LIABILITY The values of asset and liability are always equal. This equality is due to the economic content of the classification. After all, both assets and liabilities represent the same economic assets, but only classified according to different criteria.
The classification of household assets by composition and functional role in the production process is called ASSETS.
Classification of economic assets is made not only by composition (building, machine, fuel, cash), but also by functional role in the production process.
Depending on the period of circulation (use), assets in an enterprise are divided into: non-current (long-term) assets; current (short-term) assets.
TO non-current assets include: intangible assets, fixed assets, profitable investments in tangible assets, financial investments
Fixed assets- this is a set of material assets used as means of labor in the production of products, performance of work or provision of services, or for managing an organization during a period. Fixed assets include buildings, structures, working and power machines and equipment, measuring and control instruments and devices, computer technology, vehicles, tools, production and household equipment and supplies, working and productive livestock, perennial plantings, on-farm roads owned land and environmental management facilities, other fixed assets.
Current assets include: inventories, VAT (value added tax) on purchased assets , accounts receivable, short-term financial investments , cash.
Current assets are divided into inventories and costs and into cash and settlement funds.
Inventories and costs include: raw materials, materials and other similar assets, work in progress, finished goods and goods shipped, goods for resale, deferred expenses.
Cash and funds in settlements include: accounts receivable, short-term financial investments, cash register, current account, foreign currency account.
Accounts receivable are the debts of various counterparties (buyers and customers, the state for tax calculations, employees for accountable amounts) to this enterprise.
Classification of economic assets by sources of education and intended purpose called PASSIVE
Liabilities are divided into: capital and reserves, long-term liabilities, short-term liabilities . Capital and reserves are the sources of the enterprise's own funds. These include: authorized capital, Extra capital, Reserve capital , retained earnings of previous years and the reporting year. Authorized capital- this is the equity capital of an enterprise, formed from the contributions of its founders (participants, shareholders) in the manner and amount determined by the constituent documents. Extra capital- This is the source of the enterprise's own funds. Reserve capital- source of own funds, which represents reserve funds created at the expense of profits remaining at the disposal of the enterprise in accordance with the legislation of the Russian Federation or constituent documents. These funds are intended to cover the company's losses, repay bonds and repurchase its own shares.
long term duties include: borrowed funds and other long-term liabilities. Short-term liabilities include: borrowed funds, accounts payable, deferred income, reserves upcoming expenses and payments.
31.Inventory – this is confirmation of the actual existence of a name and obligations, identification of deviations from accounting data and their regulation. The main reasons for the discrepancy between accounting and actual data are: 1. natural loss of inventory. 2. theft. 3. inaccuracies when accepting and weighing cargo. 4. errors in accounting. Inventory m.b. full those. all assets and liabilities are verified and partial-one or several types of names are checked. The timing of the inventory of assets and liabilities is determined by the management of the organization. Full investment is carried out as a rule once a year before drawing up annual reports., is also carried out when changing the form of ownership of an organization, changing hands, etc. They are carried out by the respective hands inventory commissions. Before carrying out the investment, the responsible persons give a letter of receipt stating that all the valuables have been capitalized by them, and those issued to the company have been written off. After the investment, the same persons give receipts stating that they accepted the inventory assets for safekeeping and have no claims against the commission. When conducting an inventory of inventory items, the commissions draw up inventory signatures, inventory records tions, which indicate the actual presence of valuables and accounting data on them. Wed money is inventoried: 1. At the cash desk (by recalculating cash balances, commissions and comparing balances with accounting data.) 2. on bank accounts (by reconciling bank statements on cash balances on each account with available data in accounting. Settlements with third-party inventory organizations by sending these organizations personal accounts for settlements with them. Third-party organizations must confirm settlement balances or submit a reasoned objection. In accounting, according to inventory results, tions of the state of the comparison statements. In them, only those positions of values are shown, discrepancies with the accounting data are identified. At the same time, the responsible persons present to the commission will explain the notes on these discrepancies. The commission will consider these records and makes a decision on the collection of shortages, capitalization of surpluses and formalizes its decision in a protocol. Inventory differences are reflected in accounting as follows: 1. shortages of valuables within the limits of normal loss norms are written off as products. 2. shortages in excess of normal loss norms are written off against the guilty persons, if they are not identified, then at the expense of compensation; if the valuables are not insured, then written off to the account of non-release income and expenses.3. surpluses are accounted for according to the corresponding items of assets in correspondence with the account of non-operating income and expenses.4. accounts receivable from expired limitation period written off at the expense of the reserve for doubtful debts, and if such a reserve has not been created in the organization, then written off to the account of non-release income and expenses. 5. Accounts payable with expired statutes of limitations are written off to the account of non-release income and expenses. Surpluses and shortages are reflected in accordance with the approved protocol of the inventory commission in the month when the inventory was completed.
32. Principles of classification of accounts and their characteristics. Accounting is an ordered and regulated information system that reflects the state and movement of property, settlements and obligations, own financial results economic entity. The procedure is established by law government regulation accounting, rules for publishing reports and measures to ensure reliability accounting information. Methodological basis The organization of accounting is made up of a system of methods and certain techniques that are carried out through documentation, inventory, balance sheet, a system of synthetic and analytical accounts using the method double entry, valuation of property and liabilities, other balance sheet items, calculations and reporting of the enterprise. In the theory and methodology of accounting, the system of accounts plays a special role, since with their use the problem of dual reflection of information, its accumulation and generalization is realized. Accounts are recorded using the double entry method. A large number of accounts used in current accounting require their organization and certain systematization. This goal is achieved by classifying accounts. Since they are a carrier of information and at the same time a method of obtaining it, the classification of accounts should be carried out according to various criteria. These signs should be captured economic essence accounting objects, the environment in which certain objects operate, as well as the features of the formation information system in the direction of satisfying the management apparatus with relevant information. In the most general approach modern theory classification of accounts provides for their grouping according to two criteria: 1) economic content; 2) purpose and structure
35. Types and forms of accounting registers.Accounting registers- these are special tables (forms) for reflecting business transactions recorded in primary document. Registers are designed to accumulate, group and systematize homogeneous business transactions contained in documents into accounts, serve the purposes of control, management and analysis of the financial and economic activities of organizations and are used to compile established forms reporting. Due to the fact that there are many accounts and registers a large number of accounting registers are classified: 1. by purpose and volume of information (volume of content): synthetic(intended for recording business transactions on synthetic accounts; entries in these registers are kept without explanatory text, in a generalized form and only in monetary terms), analytical(designed and used to reflect homogeneous transactions in separate analytical accounts, each transaction is recorded quite fully not only in monetary, but also in kind), combining synthetic and analytical accounting(increase the reliability and clarity of accounting; in these registers, separate lines are intended for analytical accounting, and the total data of all records are indicators synthetic accounting); by account type : chronological(used to record transactions in chronological order, i.e. in the order they were completed (most often in the order in which documents were received by the accounting department) without grouping them by accounts), systematic(homogeneous business transactions are systematized according to synthetic and analytical accounting accounts, an example is the general ledger, which records turnover on all synthetic accounts indicating the corresponding accounts) combined (combine chronological and systematic recording); By external form : free sheets(statements) (they are separate sheets or several bound sheets, these are order magazines or statements, they are opened for a month, some of them have inserts, are stored in folders), cards(these are also loose sheets, but not fastened together. They are stored in boxes in a certain system. A collection of cards of the same purpose is called a card index), books(used to register business transactions using both synthetic and analytical accounts. In accounting books, all sheets are laced, numbered, sealed and signed. The book is drawn up at the beginning of the year and maintained throughout it), machinegrams (accounting register, obtained when processing documents on a PC. Their forms are varied and depend on the purpose and content of the objects taken into account); by structure (shape of graphing) : one-sided, two-sided, multigraphic; on a material basis : paper and paperless registers.
36. Documentation, its essence and meaning. Documentation is one of the elements of the accounting method; it is a method of continuous and continuous reflection of business transactions in order to obtain the necessary information about completed business events, as well as making subsequent entries in the accounting system of accounts. Regardless of the methods of recording source data, each business transaction must be documented at the time and place of its completion. Documentation is a set of documents drawn up for all business transactions. The data contained in them subsequently serves as the only basis for reflecting business transactions in current accounting. A document (Latin documentum - certificate, evidence) is a written certificate of the right to carry out, or confirmation of the actual implementation business transaction, in which the necessary details are filled in. A document form is an information carrier with permanent information printed on it. In addition to document forms, media accounting information floppy disks and disks are used when they are processed on a PC. They are used depending on the automation tools that are used in the organization. The importance of documentation in the work of organizations is not limited to the fact that it: 1. serves as a means of substantiating accounts; 2. has great operational significance. Accounting documents are used to transmit orders from managers to executors, i.e. used for guidance and management economic activity;3. perform control function, i.e. through documentation, the correctness of completed operations is monitored, the causes of certain economic violations are established, documentation plays a special role in the struggle for the safety of property. Documentation makes it possible to uncover cases of theft of property and various types of abuse, and often prevent them; 4. legal (legal) meaning of documentation. Confirming the correctness of the facts recorded in the records, documents are irrefutable evidence in disputes arising between this organization and other bodies and persons. They are used by court and arbitration authorities when resolving issues of various claims, checking the completeness of fulfillment of contracts and other obligations; 5. perform an analytical function, i.e. An ongoing analysis of the work being performed is carried out.
Household assets used by an enterprise in the process of conducting business have a clear classification. Depending on the applied classification criteria, funds can be divided into own and borrowed (credit), used in circulation or production, etc. In the article we will tell you what the classification of household assets is according to different types.
Household products: general provisions
When we talk about business assets, we mean not only cash in the cash registers of the enterprise or funds that are located in the bank accounts of the company. The concept of economic assets includes the entire complex of organizational assets, including:
- fixed assets, intangible assets, other tangible assets. This group also includes materials used in the production process (raw materials, supplies), as well as finished products.
- authorized capital formed during the creation of an enterprise, as well as supplemented by contributions in the process of conducting business activities.
- debt of debtors in the form of unpaid funds, uncompleted work, as well as goods (products) that were not delivered within the framework of concluded contracts.
- A firm's profit after taxes.
- credits, loans, loans.
To classify enterprise funds, they use various criteria. However, in accounting and financial accounting, household assets are usually divided into groups according to the following basic criteria:
- in terms of sources of formation;
- based on the composition of funds and their placement;
- in terms of production role and functions performed.
Source of funds as a classification criterion
In the process of conducting business, a company can use both its own funds and money, fixed assets, and material assets accepted under loan agreements.
Own funds of the organization
If we talk about a company’s own funds, then we first of all mean the authorized capital. It is formed at the time of creation (establishment) of the organization; contributions to the authorized fund are made by the founders, each of whom makes a corresponding contribution in accordance with the constituent documents.
Investors have the right to form a fund not only from cash. The authorized capital can also be formed at the expense of real estate, fixed assets and other material assets, transferred by the founders as a contribution.
In addition to the authorized capital, the company has its own funds in the form of reserve and additional capital. For information about household equipment in this group, see the table below.
| Capital | Source of formation | Description | Accounting |
| Spare | When making a profit at the end of the reporting year, the company has the right to use it to form and replenish reserve capital. | When forming a reserve, act in accordance with the constituent documents. The company has the right to use the formed reserve to cover losses, pay dividends to the founders, as well as for other needs in the event that the amount of profit is not sufficient to fulfill financial obligations. | Reflect the formation of the reserve according to Kt 82. When writing off reserve amounts for the needs of the organization, make an entry according to Dt 82. |
| Additional | When conducting an annual revaluation of fixed assets and capital investments, the revaluation amount is used to form additional capital. In the event of an increase in the value of shares, as well as when they are sold above their par value, the amount of the revaluation (the difference upon sale) is used to replenish additional capital. | Revaluation should be carried out in the manner prescribed accounting policy. The amount of revaluation (depreciation) must be recorded in the inventory sheet. To reflect the additional valuation (discount) when selling shares, follow the provisions reflected in the decision of the board. The company has the right to use additional capital to repay losses when the value of non-current assets decreases. | Reflect the formed (additional) additional capital according to Kt 83. When using additional capital funds to replenish the authorized capital, as well as when distributing amounts between the founders, make an entry according to Dt 83. |
TO own funds firms also include subsidies, subsidies and other special-purpose funds coming from the budget and non-state funds. Receipt of targeted financing is carried out on the basis of concluded agreements. The company has the right to use the funds received exclusively for the purposes specified in the agreement.
On admission targeted funds their amount should be reflected according to Kt 86. When using funds, they must be written off according to Dt 86.
Borrowings and financial obligations
The organization’s funds can be formed both through its own investments and through credits, loans and other borrowed money. The company may also have funds in the form of financial or material obligations of counterparties. We present generalized information about the organization’s borrowed funds and obligations in the form of a table.
| Borrowed funds | Description | Kinds | Documentation | Accounting |
| Loans | Upon registration bank loan or receiving a loan from a legal entity or individual, the amount of funds goes to the organization for use fixed term. Borrowed funds of this group are divided into short-term (a loan for a period of up to 12 months) and long-term (funds are used for a period of more than a year) |
|
| Reflect funds received on account of granted loans and borrowings according to Kt 66 (67). Interest paid for the use of borrowed funds should be reflected as part of other expenses. |
| Liabilities | Borrowed funds in the form of cash on hand and non-cash funds in bank accounts are recognized monetary obligations to counterparties in the form of non-payment for goods, works, services received. This group of household goods also includes: · services (goods) not provided by the company within the framework of concluded contracts; · unfulfilled obligations to employees. |
|
| Reflect financial obligations according to the Dt of accounts, depending on the type of debt (Dt 70, 76, 62, 68, 71...). |
Composition and placement of household assets
This classifier assumes the division of household assets into current and non-current ones. current assets. We present the types and descriptions of funds belonging to each group in the form of a table.
| Assets | Description | Kinds |
| Current assets | This group includes funds used in the turnover of the company, in particular in the production process, in settlements with counterparties, as well as in the form of cash and non-cash funds and short-term investments. | All cash and non-cash funds(own and borrowed) are considered current assets of the company. This group also includes:
|
| Non-current assets | The concept of non-current assets means funds in the form of investments in material assets (fixed assets), shares, banknotes, etc. | This category includes fixed assets and intangible assets that the company owns as property (buildings, land, equipment, computer programs). The group also includes capital investments (construction in progress, equipment being modernized), investments in securities and the authorized capital of other companies. |
Example No. 1. Labrador LLC is engaged in the production and sale of animal feed. According to reporting documents, Labrador LLC has the following types of household assets:
- cash on hand and current account at Central Bank – 1,020,850 rubles;
- accounts payable (non-payment by the buyer of JSC Petomets for dog food supplied by Labrador) – 410,630 rubles;
- raw materials used in the feed production process - 301,840 rubles;
- equipment used for feed production – 902,550 rubles;
- land plot on which the production workshop is located – 1,005,700 rubles.
Using the classifier of household assets, based on their composition and location, Labrador’s accountant made the following calculation:
- Current assets (cash and non-cash funds, debt of JSC "Pitomets", raw materials):
RUR 410,630 + 1,020,850 rub. + 301.840 rub. = 1,733,320 rub.
- Non-current assets (land, production equipment):
1,005,700 rub. + 902.550 rub. = 1,908,250 rub.
Share working capital in the total volume of household assets of “Labrador” amounted to:
1,733,320 rub. / (RUB 1,733,320 + RUB 1,908,250) * 100% = 47%.
The share of Labrador's non-current assets was:
1,908,250 rub. / (RUB 1,733,320 + RUB 1,908,250) * 100% = 53%.
Functional classifier of household equipment
Depending on the functional role, household equipment is divided into:
- used in the field of circulation. This group includes cash and non-cash funds, goods sold;
- used in the production process, namely raw materials, materials, production equipment;
- used in the non-productive activities of the company. This category may include premises for cultural, educational, and medical purposes.
Example No. 2. The Znamya plant produces motor cultivators. The plant owns the following premises:
- building used to house production workshops ( book value 10,407,200 rub.);
- premises for a warehouse (book value 3,701,300 rubles);
- a complex of buildings housing a sanatorium for plant employees (RUB 12,400,800).
Thus, the amount of capital goods is 10,407,200 rubles. (production workshops), spheres of circulation - 3,701,300 rubles. (warehouse), non-production sphere - 12,400,800 rubles. (sanatorium).
Rubric “Question and answer”
Question No. 1. JSC GlavRyba is engaged in the processing and sale of seafood and fish. GlavRyba owns a building that houses a sports club for company employees. The book value of the building is 14,500,300 rubles. To which group of household assets can the cost of a building be classified according to the functional classifier?
Sports activities are not a production area of operation of GlavRyba JSC. In this regard, the book value of the sports club building is classified as non-productive assets.
Question No. 2. JSC StroyMash received a government subsidy in the amount of 704,200 rubles. to modernize production equipment. Do these funds belong to your own or are they borrowed?
Despite the fact that StroyMash received funds from the state, they are their own and not borrowed. At the same time, StroyMash can use them exclusively for their intended purpose. Otherwise, the funds must be returned to the state.
SUBJECT AND METHOD OF ACCOUNTING
Accounting considers the economic assets of any organization from two points of view: on the one hand, you need to know what types these assets consist of, in what area they are located (production, trade, etc.), on the other hand, you need to know from what sources this property was acquired or formed. For example, to start entrepreneurial activity, capital is required, either own or borrowed.
Household assets of the organization- inventory and cash, both owned by the organization and temporarily or permanently outside its ownership. They are an asset of the organization and are classified by composition: non-current and current assets.
Fixed assets are divided into:
1. Fixed assets- these are items whose service life is more than 1 year. They are used in economic activities for a long time, without changing their shape and wearing out gradually, which allows their cost to be included in the production costs (sales costs) of products in parts as they wear out, through depreciation charges. The main assets include:
Facilities;
Cars and equipment;
Vehicles;
Tools;
Production equipment and accessories;
Computer Engineering;
Other fixed assets.
2. Intangible assets - this is a type of means that do not have a material (physical) structure. Used in. production of products, when performing work or providing services, or for the management needs of the organization; for a long time, i.e. period beneficial use lasting over 12 months. or normal operating cycle if it exceeds 12 months; if the organization does not intend to subsequently resell this property; capable of bringing economic benefits (income) to the organization in the future, etc.
Intangible assets may include intellectual property objects (exclusive right to the results of intellectual activity):
The exclusive right of the patent holder to an invention, industrial design, utility model;
The exclusive right of the owner to a trademark, service mark, appellation of origin of goods;
Intangible assets also include the organization’s business reputation and organizational expenses (expenses related to education legal entity, recognized in accordance with the constituent documents as part of the contribution of participants (founders) to the authorized (share) capital of the organization).
Intangible assets do not include the intellectual and business qualities of the organization’s personnel, their qualifications and ability to work, since they are inseparable from their carriers and cannot be used without them.
3. Investments in non-current assets- the organization’s costs for objects that will subsequently be accepted for accounting as fixed assets; land plots and environmental management facilities, intangible assets, as well as the organization’s costs for the formation of the main herd of productive and working livestock.
Working capital participate in only one capital circulation and completely transfer their value to the newly created product. Their main difference is V that in a short time they can be converted into money. These include:
Materials (raw materials, supplies, fuel, spare parts, equipment, containers, etc.);
Animals for raising and fattening (young animals, adult animals, birds, rabbits, bee families, etc.);
Reserves for reducing the value of material assets;
Procurement and acquisition of material assets;
Deviation in the cost of material assets;
Value added tax on purchased assets.
2. Production costs- expenses for common types activities of the organization (except for sales expenses):
Primary production - production costs, the products of which were the purpose of creating this organization;
Semi-finished products of own production;
Auxiliary production - costs of production that are auxiliary (auxiliary) for the main production of the organization;
General production expenses - expenses for servicing the main and auxiliary production facilities of the organization;
General running costs- expenses for management needs not directly related to the production process;
Defects in production;
Service industries and farms - costs associated with the production of products, performance of work and provision of services service industries and farms of the organization.
3. Finished products and goods:
- release of products (works, services);
Goods - inventory items purchased as goods for sale;
Trade margin;
Finished products;
Selling expenses associated with the sale of products, goods, works and services;
Shipped goods - shipped products, the proceeds from the sale of which cannot be recognized in accounting for a certain time, as well as finished products transferred to other organizations for sale on a commission basis;
Completed stages of unfinished work.
A. Cash - cash in Russian and foreign currencies located at the cash desk, on settlement, currency and other accounts opened in credit organizations on the territory of the country and abroad, as well as securities, payment and monetary documents.
5. Calculations:
With buyers and customers;
With accountable persons (settlements with employees for amounts issued to them on account for administrative, economic and operating expenses);
With different debtors.
Accounts receivable- this is the debt of various organizations or individuals of this organization.
Debtors refers to the organizations or individuals who use the organization's funds.
Enterprise assets- this is a complex of fixed, working and cash assets, including cash on hand, as well as funds in settlements, diverted funds and other receivables. The sources of the listed economic funds are the authorized capital of the enterprise, the net profit remaining after taxes, loans and advances, debts to suppliers and other accounts payable.
Depending on the composition and placement (nature of use), household assets are divided into:
- non-current (fixed capital)
- current assets ( working capital).
Non-current assets of the organization
Fixed assets include:
- intangible assets,
- fixed assets,
- Construction in progress,
- profitable investments in material assets,
- long-term financial investments,
- Deferred tax assets,
- Other noncurrent assets.
Intangible assets– these are long-term use objects that do not have a physical basis, but have a value and generate income: intellectual property objects (exclusive rights to inventions, industrial design, utility model, computer programs, databases, trademark and service mark, name of origin goods, selection achievements, etc.), as well as business reputation and organizational expenses. Like fixed assets, intangible assets do not transfer their value to the created product immediately, but gradually, as they depreciate.
Fixed assets– these are means of labor used in the production of products, performance of work and provision of services for more than one year. They are used in various fields social labor applications ( material production, commodity circulation and non-production sphere). Fixed assets participate in the production process for a long time, while maintaining natural form. Their cost is not transferred to the products being created immediately, but gradually, in parts, as depreciation occurs.
Construction in progress– these are the organization’s costs for construction and installation work, the acquisition of buildings, equipment, vehicles, tools, inventory; expenses for design and survey, geological exploration and drilling work, etc.).
Profitable investments in material assets- these are investments of an organization in part of the property, buildings, premises, equipment and other valuables that have a tangible form, provided by the organization for a fee for temporary use in order to generate income.
Long-term financial investments– all types of financial investments of an organization for a period of more than one year: investments in subsidiaries and dependent companies, in the authorized (share) capital of other organizations, in government securities, as well as in loans provided to other organizations.
Deferred tax assets– that part of deferred income tax that should lead to a reduction in income tax payable to the budget in the next reporting period or in subsequent reporting periods. Deferred tax asset arises when the moment of recognition of expenses (income) in accounting and tax accounting does not coincide.
Current assets of the organization
Current assets(working capital) consist of:
- material working capital,
- Money,
- short-term financial investments,
- funds in settlements.
Material working capital– these are raw materials and materials, special clothing, fuel, containers, purchased semi-finished products, components, spare parts, work in progress, animals for growing and fattening, deferred expenses, value added tax on purchased assets, finished products and goods for resale, goods shipped to customers.
Cash are formed from cash balances in the organization’s cash desk, current account and other bank accounts.
Funds in settlements include different kinds accounts receivable, which refers to the debts of other organizations or persons of this organization.
Debtors are called debtors. Accounts receivable consists of debt from customers for products purchased from a given organization, debt from accountable persons for items issued to them on account sums of money etc.
Current assets are reflected in the second asset section of the balance sheet.
To carry out economic activities, enterprises use a variety of economic assets (property).
The property of an enterprise is a set of material (buildings, structures, raw materials, etc.) and monetary values, as well as legal relations of this enterprise with other enterprises. To manage economic activities, it is important to know what property the enterprise has, where it is used, and from what sources it was created.
For the purpose of correct accounting, all funds of an enterprise are classified according to two criteria: by the composition of economic assets and placement, by sources of education and purpose. The first group reflects the funds (property) that the enterprise has, the second - from what sources they are formed.
All enterprise funds s o s t a v u are divided into two groups: non-current assets and current assets. (See diagram 1).
Non-current (long-term) assets– assets whose beneficial properties are expected to be used for a long time over several years. These include fixed assets, capital and financial investments, and intangible assets.
Fixed assets- these are means of labor used in the production of products, performance of work or provision of services, or for the management of an organization for a period exceeding 12 months. They repeatedly participate in the production process without changing their material and natural form and gradually transfer their value to the manufactured product in the form depreciation charges. Starting from January 1, 1997, the cost of a unit of fixed assets is set at more than 100 minimum monthly wages at the time of acquisition. Fixed assets include buildings, structures, transmission devices, working machines and equipment, measuring and control instruments and devices, computer equipment, vehicles, tools, production and household equipment and accessories, working and productive livestock, perennial plantings and other fixed assets.
Intangible assets– expenses of an enterprise in intangible objects (not having physical properties) but allowing the enterprise to receive income constantly or during long term their operation. Intangible assets include land use rights, natural resources, patents, licenses, copyrights, trademarks, software products etc. Intangible assets, like fixed assets, transfer their value to the finished product in parts.
Capital investments– costs associated with construction, acquisition of fixed assets, as well as acquisition of intangible assets. These assets are accounted for as capital investments until commissioning.
Fixed assets
(buildings, structures, machinery, equipment, land, etc.)
Fixed assets
Intangible assets
(patents, licenses, rights, trademarks, etc.)
Long-term financial investments
(investments)
Household supplies
Funds in settlements
(receivables from legal and individuals, i.e. debtors owe us)
Current assets
Cash
(at the cash desk, on a current account, a foreign currency account, on special bank accounts)
Scheme 1. Classification of household assets by composition and placement
Long-term financial investments– investments of the enterprise related to the acquisition of shares and other valuable papers, with investment in the authorized capital of other enterprises.
CURRENT ASSETS (MEDIUM)- attachments financial resources into objects that are used within one reproductive cycle or for a relatively short calendar time (usually no more than one year). The following can be distinguished as part of working capital: inventories (inventory), funds in settlements, cash, short-term financial investments.
Inventory assets (stocks) include:
· objects of labor - raw materials, materials, fuel, semi-finished products, work in progress, containers. They are completely consumed in one production cycle, lose or modify their natural form and transfer their entire value to the manufactured products;
· labor instruments costing less than 100 minimum monthly wages, regardless of service life, or service life of less than 1 year, regardless of cost. In accounting, they are usually called low-value and wear-and-tear items (IBP);
· finished products and goods for resale.
Funds in settlements (“they owe us”)- accounts receivable of legal entities and individuals (debts of other enterprises and individuals to this enterprise), i.e. debt to the enterprise for goods and services, products, advances issued, amount owed to accountable persons, etc.
Cash– the amount of cash at the enterprise’s cash desk, free funds stored in current, foreign currency and other bank accounts.
Short-term financial investments– investing money or property in other enterprises with the aim of generating income for a period of no more than a year. These include stocks, bonds and local loans, savings certificates, bills, etc.
Knowing the composition of the economic assets (property) of the enterprise, we will consider from what sources they can be capitalized and received. For this purpose, a classification of the funds (property) of the enterprise is used according to the sources of their formation and purpose (shown in diagram 2.).
 |
Capital and funds
(authorized, reserve, additional capital and funds special purpose)
Sources of own
(equity) Profit
 |
Reserves and financing
 |
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SOURCES
Household funds
Enterprises
Bank loans
(accounts payable)
Sources involved
(borrowed) funds Accounts payable
(debt to suppliers, debt to other creditors)
Scheme 2. Classification of economic assets of an enterprise by sources of formation and purpose
All sources of formation of economic assets (property) of an enterprise are divided into own and attracted (borrowed).
P O w n S o u r c e s o f econom y -
N y s e d s t v form the material base of the enterprise in monetary terms. These include: capital, funds, profits, reserves, targeted financing and revenues.
Included equity enterprises take into account the authorized capital, additional capital, and reserve capital.
Authorized capital – total amount in monetary terms, contributions of founders (owners) to property when creating an enterprise to ensure its activities in the amounts determined by the constituent documents.
Extra capital consists of the increase in the value of property during revaluation, gratuitously received values, share premium (the excess of the sale price of shares over their par value, which arises upon the establishment of a company, when increasing the authorized capital through an additional issue of shares or a change in the par value of shares), etc.
Reserve capital is created at the expense of the enterprise’s profits and is intended to cover unexpected losses and damages or pay dividends to founders who have preference shares if there is insufficient profit for these purposes.
Special Purpose Funds are formed from the profits remaining at the disposal of the enterprise and have a strictly intended purpose. The issue of the types of special funds is decided by the enterprise independently (accumulation fund, consumption fund, etc.).
Profit- the amount of excess income over the enterprise’s expenses received from the sale of products, work, services, material assets, fixed assets, etc.
Reserves are created during the production and economic activities of the enterprise and are used for their intended purpose (reserves for doubtful debts, reserve for repairs of fixed assets, reserve for vacation pay, etc.).
Targeted funding and revenues– funds received from the state, other enterprises and individuals for the implementation of targeted activities.
REPLACEMENT SOURCES the formation of economic assets are at the disposal of the enterprise for a certain period, after which they must be returned to their owner with or without interest. These include:
bank loans- a loan that a bank provides to an enterprise for a period of more than a year (long-term loan) or for a period of no more than a year (short-term loan) and charges a fee for this in the form of interest;
loans– loans to legal entities and individuals (except banks), received for a period of more than a year (long-term loans) and for a period of no more than a year (short-term loans);
accounts payable (“we owe”)– debts of an enterprise to other enterprises and individuals, for example, suppliers for goods received but not paid for. In this case, the enterprises and persons to whom the enterprise owes are called creditors, and the debt itself is payable;
distribution obligations(equal to accounts payable) is the debt of an enterprise to its employees according to accrued but not paid wages, arising as a result of a discrepancy in time between the moment of its accrual and payment. The same sources include debts to authorities social insurance and provision, budget for taxes.
BALANCE SHEET
The balance sheet is an accounting document that contains interrelated information about the enterprise’s funds and the sources of their formation, as well as information about financial situation of this enterprise.
The balance sheet in its structure is a two-sided table, which consists of an asset and a liability.
Enterprise balance sheet
| Assets | Passive | ||
| Household assets (property) (by composition and location) | Sum | Sources of economic funds (property) | Sum |
Economic assets according to their composition and placement are shown in the asset balance sheet.
Sources of economic funds are shown in the liability side of the balance sheet.
The total totals of the assets and liabilities of the balance sheet are necessarily equal (the property of the enterprise is equal to the sources of its formation), since the same funds are reflected in the asset and liability in a single monetary measure, only grouped according to different criteria. The totals of the assets and liabilities of the balance sheet are called the balance sheet currency.
The main elements of the balance sheet are items. Based on the balance sheet items, accounts are opened for each type of economic assets and the sources of their formation. The title of most articles is the same as the title of the accounts. Accounts as they relate to balance sheet, are divided into active and passive. Each account has its own code. So the asset contains: fixed assets (01), materials (10), main production (20), semi-finished products of own production (21), cash register (50), current account (51), foreign currency account (52), etc. , and in liabilities - authorized capital (85), reserve capital (88), settlements with personnel for wages (70), settlements for long-term loans and loans (67), etc.
3. ACCOUNTS
3.1. Nature of the account
Accounting for transactions on accounts begins with the following being recorded for each account:
1. Balance at the beginning of the month(i.e. the amount in the account at the beginning of the month - opening balance)
2. Monthly turnover(i.e. the amount of transactions associated with an increase or decrease in the initial amount during the month)
3. Balance at the end of the month(i.e. the amount taking into account changes for the month)
Balances and turnovers are recorded in the debit and credit of the account.
To visually reflect changes (increases or changes) in funds or sources, the account is presented in the form of a table consisting of two parts: “Debit” and “Credit”.