Fixed assets form part of the property. Their use is necessary in the manufacture of products, enterprise management, to provide services for a period of more than twelve months or other specified cycle.
Fixed assets include the following units: computer equipment, structures, buildings, vehicles, household equipment. At each enterprise, accounting for fixed assets and intangible assets is a necessity. The list of intangible assets includes: copyright in computer programs, the right of the owner of a patent for an invention, the right of the owner of a patent for selection achievements, the business reputation of the plant, and organizational expenses.
Accounting for fixed assets and intangible assets
Fixed assets have their value, which is divided into several types: initial, residual, restoration. Accounting reflects their initial cost. Under the accounting unit OS means a separate finished inventory object. Each inventory item must be assigned a separate number. This number is maintained throughout the entire period of operation, stock, conservation.
Business operations (admission, arrival, disposal) are called the movement of the OS. These operations are subject to registration on the forms of primary accounting records. For this, the commission appointed by the director of the company draws up an act of acceptance - transfer of fixed assets. The invoice is filled out for each object separately. If objects of the same type, value, taken at the same time under the responsibility of one person, then you can draw up one act for several units. During the audit process, it is possible to identify equipment defects. Their registration is carried out in the act of identified defects.
After carrying out measures for the reconstruction, repair, installation, testing of equipment, the acceptance of completed work is taken into account in OS-3 (acceptance certificate - delivery of repaired, reconstructed, modernized objects). The movement of fixed assets within the company is made out by waybill (by the act of acceptance - transfer of fixed assets). The document reflects changes in the initial cost and technical characteristics of the object. The funds are written off in OS-4 (the act on the write-off of fixed assets). The operation does not apply to transport units. Cars and trucks are written off as OS-4a.
The main form of accounting OS are inventory cards. They are compiled in a single copy for each inventory number. Accounting for fixed assets and intangible assets is the work of an organization’s accountant.
The accounting procedure for intangible assets is subject to regulation by the Regulation in accordance with the order of the Ministry of Finance. This document is called “Accounting for Intangible Assets of PBU”. It reflects a list of intellectual property. Accounting is carried out in the asset card. There are no special primary accounting forms for intangible assets. Therefore, the organization has the right to develop a reporting form. Tax accounting of intangible assets is possible subject to a number of conditions:
- the ability of the object to bring economic benefits to the enterprise;
- the right of the organization to receive economic benefits;
- the ability to identify objects from other assets;
- the use of intangible assets for a long time;
- lack of sale of an asset for twelve months or for a certain period;
- the reliability of determining the value of the object in fact;
- lack of material form.
Accounting for fixed assets and intangible assets in our time is carried out on a personal computer in order to automate and increase the speed of work. This facilitates the work of an accountant.