In the production of products, funds are used that retain their natural form, and their value is transferred to products gradually, as they are used. Such funds are called fixed assets. OPF is the common abbreviation for their designation. Their share in the national property of the country exceeds 90%. Let's consider in detail what OPF is .
Features of using concepts
There is currently no single approach to defining terms. In international practice, the concept of "fixed capital" is used. In the national economy, it can be called differently - fixed assets or funds.
What is OPF?
Production assets include assets with a useful life of at least one year, and the cost exceeds the indicator established depending on the prices of products of capital-forming industries.
The cost of OPF is transferred to products in the process of depreciation. At the end of their service life, they fully pay off due to deductions.
You need to know that OPF are such tools that can be used repeatedly in the production process.
Classification
OPF is divided into funds of industries that produce goods and provide services. Assets vary in ownership. Production OPFs may be in private, state, municipal, regional ownership.
Assets can be own or leased (leased). The OPF system also allocates funds from cities, districts, territories, republics, regions.
Another classification is based on the degree of impact of funds on the subject of labor. Based on this feature, active and passive OPFs are distinguished.
Sources of Information
Information on the means of production can be obtained from:
- Regular statistical reporting on the availability, movement and use of OPF .
- One-time reporting on the results of revaluation of public funds.
- Business register data and sample surveys.
OPF structure
The division of funds into types is carried out in accordance with the all-Russian classifier. In the structure of OPF allocate intangible and tangible assets.
The latter include:
- Buildings (excluding housing).
- Facilities.
- Residential objects.
- Equipment, machinery.
- Transport.
- Tools, inventory (industrial, household).
- Livestock (productive, working).
- Perennial crops.
- Other OPF.
What are buildings? These are the objects in which the main, auxiliary and auxiliary production is carried out, administrative activity is carried out. In addition, the buildings include farm buildings. In addition to construction costs, the price of OPF of this type includes the price of engineering networks (water supply, electricity, ventilation system, heating, etc.).
Structures are called engineering and construction objects necessary for conducting production activities. These include, in particular, bridges, tunnels, flyovers, roads, etc.
Equipment, machines
This group includes:
- Units that directly affect the subject of labor or affect its movement in the course of production.
- Regulating, measuring devices, instruments, laboratory equipment.
- Electronic computing, analog machines, units used to control the process.
- Other equipment.
Transport
This group includes cars, rolling stock, in-plant vehicles, autocars, trolleys, trolleys, etc. The share of transport in the structure of the OPF is constantly growing.
Inventory, tools
All types of instruments, the term of use of which exceeds 1 year, are taken into account in the OPF. Devices with a shorter service life are classified as revolving funds.
The composition of production and household equipment also includes accessories that are used to store tools, materials, facilitate the performance of production operations. These include, in particular, tables, shelving, workbenches, containers, fireproof cabinets, furniture, copying equipment, etc.
Cattle
Working cattle - oxen, bulls, horses, etc. - were allocated in a separate group as early as 1996. Productive (giving offspring and products) animals are included in the OPF. These include cows, pigs, sheep, etc.
The cost of young animals, cattle for fattening is included in the working capital of agricultural enterprises.
Intangible OPF
This group includes:
- Subsoil exploration costs.
- Databases and software for computers.
- Original works of art, literature, entertainment genre.
- Industrial technology.
- Other OPFs classified as products of intellectual labor, the use of which is limited by copyright.
Additionally
The composition of fixed assets includes not only operating fixed assets, but also the value of assets in progress. They become the property of the user from the manufacturer in an incomplete state or in phased payment, when actually funded by the customer.
Assets are included in fixed assets at the time of transfer of ownership to them. Consequently, OPFs increase by the value of assets in progress.
The category of incomplete objects includes plantations of perennial crops, young animals, cattle that have not reached the fruiting age, grown for multiple products. The same group includes fish, poultry, and families of bees that are bred for breeding and food production.
Classification Features
The composition of the above groups is constantly being reviewed. This is due to a change in OPF due to scientific and technological progress. Production is constantly evolving, operating conditions are improving, customer needs are changing, equipment is becoming more complicated.
In each specific economic sector, the given classification of OPFs is detailed. This means that the division into groups within the framework of industrial production will be different from the division used in agricultural production.
Classification value
Separation of fixed assets by natural substance allows an analysis of changes in the structure of funds. In addition, the classification helps determine which category the funds belong to - the asset or liability. Inclusion in a particular group is determined by the specifics of industry activities.
Typically, liabilities include structures and buildings. However, in some industries, these objects are liabilities. An example is the oil and gas industry. Wells of enterprises included in the category of structures are classified as assets of OPF.
Conclusion
Production assets are of great importance for any enterprise. The effectiveness of the activity depends on their condition.
Fixed assets can be purchased with own or borrowed money. The operation of leasing (leasing) of objects is quite common. In many cases, the temporary use of fixed assets owned by other enterprises, for a fee, is more profitable than acquiring them using own funds.
Any equipment wears out. To compensate for losses, depreciation of funds was introduced into practice. It involves regular write-offs of depreciation amounts until the end of the life of the asset. These funds can subsequently be directed to the modernization, repair of equipment or the purchase of new machines. The company independently chooses the depreciation method. The selected method should be reflected in accounting policies.
To make effective management decisions, it is necessary to regularly analyze the results of production. In their study, it is possible to identify unpromising, unprofitable areas of activity, to optimize the costs of OPF. On how efficiently the fixed assets will work, the profit and, consequently, the solvency of the enterprise depend. On its indicator, in turn, depends on the investment attractiveness of the company.