Fixed assets (PF) - the most important element of national wealth. This concept characterizes the material values that are created and repeatedly used in production, and the value of which is partially transferred to the manufactured products and services, without changing their own natural form.
Fixed assets in accounting are reflected in such a way that their initial cost, physical condition and financial losses are visible.
The accounting of fixed assets is usually carried out in kind and in cash. Monetary valuation allows you to characterize the structure, composition, total value, dynamics, the amount of depreciation.
Indicators such as capital intensity, capital productivity, capital ratio provide an opportunity to assess the economic efficiency of using OF. The basis for their calculation is the average annual value of fixed assets
Assessment of the condition and quality of fixed assets is carried out:
- at the initial cost, consisting of the purchase price, the cost of delivery and installation of the facility, which is unchanged for the entire period of operation of fixed assets, except for cases of their partial liquidation or reconstruction;
- at replacement cost, reflecting the costs necessary to acquire similar fixed assets in the current market conditions;
- at the residual value, which is the difference between the original book value and depreciation.
The presence of PF as a whole, as well as separately by species, their estimated indicators can be calculated at any date, or for any specific period of time. In the first case, moment indicators are obtained, in the second - the so-called interval indicators, that is, the average for the period. The dynamics of the movement of fixed assets and their actual availability are shown monthly.
An important indicator necessary in accounting for characterizing the effectiveness of the enterprise is the average annual cost of fixed assets, the formula for its calculation
Fsg = Fn + Fvv * n1 / 12 - Fv * n2 / 12,
where the value of fixed assets is indicated: - newly introduced, - retired, - at the beginning of the year. The designation n1 and n2 is the number of months of validity of the entered and retired OFs, respectively.
If the objects of fixed assets were commissioned or disposed of at different periods during the year, the average annual value of these objects is calculated separately for each, taking into account the period of actual use, the results are then added up.
In order to assess how efficiently fixed assets are used, they use general indicators, namely, return on assets, capital intensity, capital equipment, etc.
Capital productivity shows how the volume of gross output and the average annual value of fixed assets are correlated, that is, what volume of output products or services falls on a unit of funds invested in fixed assets. More efficient operation of the enterprise is characterized by a higher rate of return on assets.
Capital intensity, in fact, is the reciprocal of return on assets. Per unit of manufactured products or performed services, the average annual value of fixed assets is used to assess the use of fixed assets.
With a decrease in capital intensity, capital productivity increases accordingly, this indicates that the efficiency of use of fixed assets increases. The ratio of capital productivity and capital intensity is greatly influenced by the capital-labor ratio - the average annual cost of fixed assets based on the average annual number of employees.
Knowledge of the correct calculation of general indicators for fixed assets is necessary for managers, accountants and economists in order to take appropriate steps to improve the work of the enterprise.