Household products are classified according to their composition into: Classification of household assets by composition and placement

MINISTRY OF EDUCATION AND SCIENCE OF THE RF

Almetyevsk branch

State Educational Institution of Higher Professional Education Kazan State Technical University

them. A.N.Tupoleva

COURSE WORK

discipline: Accounting

on the topic "Classification of economic assets and their sources of formation"

Completed by: Andreeva E.R.

Group 24 477

Checked:

Khametova N.G.

Almetyevsk 2010

Introduction

1.2 Non-current assets

1.3 Current assets

CHAPTER 2. Classification of economic assets of an enterprise by sources of education

2.1 Own

2.2 Borrowed

CHAPTER 3. CALCULATION PART

Literature

Applications

INTRODUCTION

Accounting - the main link in the formation of economic policy, a business tool, one of the main mechanisms for managing production processes and sales of products - helps to improve the organization of production, operational and long-term planning, forecasting and analysis of economic activities.

Accounting is an orderly system of collecting, registering and summarizing information in monetary terms about property (assets), liabilities, income and expenses of an enterprise and their movement through a continuous, continuous and documentary reflection of all business transactions.

Currently, in Russia, in a transition economy, depending on the organizational and legal form of ownership, various types of organizations operate. As a result, there was a need to adapt accounting and reporting to the requirements of the transition period, which, in turn, entailed the transformation of all accounting into a more efficient, accessible information and management system not burdened with cumbersome registers. As a result, the theoretical and methodological foundations of accounting have undergone significant changes, namely: the content and definition of the subject of accounting, its objects, and main tasks. All this required the adoption of a new Federal Law of the Russian Federation on accounting and other regulations and guidelines.

Accounting uses specific information processing techniques that provide a complete and reliable reflection of all economic phenomena and processes in a separate enterprise or institution.

This course work directly examines the property of the enterprise. The relevance of the chosen topic is due to the fact that in the most general form, accounting reflects the economic activities of certain entities. That part of economic activity that is studied by accounting is a set of economic processes and economic operations that cause changes in property. Thus, the subject of accounting is the state of change in the property of an enterprise in the process of financial and economic activities, in the course of economic processes under the influence of business operations.

An enterprise (organization), producing products, performing work or providing services, carries out a huge number of business transactions. These business operations together constitute business processes, which are divided into: supply process; production process; implementation process - sale.

As a result of production activities, economic assets are in constant circulation. The circulation of economic assets coincides with economic processes. At the first stage of the circulation (supply process), the enterprise's funds are transformed into the necessary material assets (raw materials) necessary for the production process. At the second stage of the circulation (production process), the transformation of economic assets (material assets), which are combined with labor, into a new product, into new products of the enterprise, which differs in appearance, purpose and cost. At the third stage (the sales process), the enterprise’s products are converted into cash, but in a larger amount than it was originally spent.

The subject of accounting is what is subject to accounting, that is, property and liabilities belonging to an economic entity, that is, economic assets and their sources in the process of expanded reproduction (supply, production, sales).

Each separate type of funds and sources is called an accounting object. Accounting does not capture or reflect what has no value.

The tasks facing accounting are determined by state policy. Currently, accounting has 3 main tasks:

1) generation of complete and reliable information about the activities of the organization, its property status;

2) providing information to external and internal users of accounting statements to monitor the availability and movement of property, liabilities, use of labor, financial and material resources;

3) prevention of negative results of economic activity and identification of on-farm reserves.

Modern accounting occupies one of the main places in the enterprise management system. It must meet the requirements of international standards, meet the needs of external and internal users of information, and identify reserves for increasing production efficiency. In these conditions, the role of accounting specialists is increasing, and the requirements for their training are increasing.

An accounting specialist must contribute to the efficient management of the economy, be able to quickly and accurately navigate various business situations and predict trends in their development. The economic assets and sources of their formation discussed in this course work are the basis for further study of accounting.

CHAPTER 1. Classification of economic assets of an enterprise by composition and location

1.1 Concept of accounting objects

The composition of an enterprise's economic assets is determined by the content of its activities. But every enterprise needs labor resources, real estate, equipment, materials, and funds to carry out effective economic activities. In accounting, the economic assets that an enterprise has are called assets.

Accounting objects are groups of elements of property of an economic entity according to their composition and economic content as a whole, and internally according to their constituent parameters, that is, accounting objects are the property of the organization, its obligations and business transactions carried out in the process of financial and economic activities. These are specific units of economic assets and sources of their formation in value terms, as well as their dynamics and statistics determined by economic processes.

The organization has at its disposal numerous and varied types of property, which provide and form the basis of its economic and financial activities. The organization's property is a combination of non-current and current assets.

Accounting objects, by their economic essence, are divided into three interrelated sections (Appendix I):

1) property of the organization by composition and location;

2) the organization’s property by sources of its formation (own and borrowed obligations);

3) property involved in business transactions (occurring in the areas of supply, production and sales).

1.2 Non-current assets

Non-current assets are a set of material assets at a set cost per unit, used as means of labor in the production of labor products or for operational management, economic services, and the needs of the social sphere during their useful life exceeding 12 months. Non-current assets are divided into several groups:

1. Fixed assets - a set of tangible assets used as means of labor 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, or the normal operating cycle, if it exceeds 12 months. The main feature of fixed assets is that they function for a long time during the production process in an unchanged natural form and gradually transfer their value to the manufactured product in the form of depreciation charges. Fixed assets are a certain group of assets of an organization that have value and the ability to bring economic benefits to the organization (income), have a material structure and are used for a long period as means of labor in the production of products (works, services) or for the management needs of the organization. According to the Regulations on accounting and reporting in Russia, fixed assets include: items that last for more than a year, regardless of their cost; items valued at the date of acquisition of more than one hundred times the minimum monthly wage per unit, regardless of their useful life. This includes land plots and environmental management facilities, buildings, machinery, equipment and other fixed assets.

Useful life is the period during which the use of an item of fixed assets is intended to generate income for the organization or serve to fulfill the goals of the organization, determined for fixed assets accepted for accounting in accordance with the established procedure. For certain groups of fixed assets, the useful life is determined based on the quantity of products or other natural indicator of the volume of work expected to be received as a result of the use of this object.

The organization has the right to revalue fixed assets no more than once a year (at the beginning of the reporting year) by indexation or direct recalculation at market prices.

2. Intangible assets are objects of long-term use (more than one year), which have an assessment and generate income, but are not tangible assets for the organization. These include: rights to use patents, licenses, software products, organizational expenses, etc. The accounting unit for intangible assets is an inventory item. The inventory object of intangible assets is considered to be a set of rights arising from one patent, certificate, or assignment agreement. The main feature by which one inventory item is identified from another is its performance of an independent function in the production of products, performance of work or provision of services, or use for the management needs of the organization. The cost of intangible assets, as well as the cost of fixed assets, is repaid evenly through monthly depreciation of their cost based on their useful life established by the enterprise itself. If the useful life of intangible assets cannot be determined, then the norms for transferring their value are established for ten years (but not more than the life of the enterprise).

3. Profitable investments in material assets – This is property provided by an organization for lease, under a rental agreement for a fee for temporary use in order to generate income.

4. Investments in non-current assets are investments (costs) of the organization in objects that will subsequently be accepted for accounting as fixed assets - land plots and environmental management facilities, intangible assets, costs of forming the main herd of productive and working livestock (except poultry , fur-bearing animals, rabbits, bee families, service dogs, experimental animals, which are taken into account as part of funds in circulation).

5. Financial investments are investments (investments) of an organization for the acquisition of government and other short-term and long-term securities (shares, bonds, bills, etc.), as well as investments in the authorized (share) capitals of other organizations, subsidiaries, dependent societies and loans provided to other organizations.

1.3 Current assets

Working capital - participates in only one circulation of capital and completely transfers its value to the newly created product. Their main difference is that in a short time they can be converted into money. These include:

1. Material assets used in one or another type of activity as objects of labor: raw materials, components, spare parts, fuel.

2. Products of labor: products ready for sale, goods (in warehouses), semi-finished products of own production, as well as products of unfinished production.

3. Cash – cash in Russian and foreign currencies located at the cash desk, in settlement, currency and other accounts opened with credit institutions in the country and abroad, as well as securities, payment and monetary documents.

4. Short-term financial investments - investments of an enterprise in short-term liquid securities purchased to generate income for a period not exceeding 1 year, as well as in the provision of short-term (up to a year) loans to other business entities.

5. Accounts receivable - debt of other legal entities and individuals of this organization. This debt is reflected in accounting as the property of this organization, i.e. the right to receive a certain amount of money (goods, services, etc.) from the debtor. For example, accounts receivable include the debt of buyers and customers listed in accounting for goods sold, work performed or services rendered. Accounts receivable with a maturity period of no more than 12 months are considered short-term. Accounts receivable with a maturity period of more than 12 months are considered long-term. At all stages of the circulation of economic assets, accounting objects arise.

CHAPTER 2. CLASSIFICATION OF ECONOMIC EQUIPMENT OF THE ENTERPRISE BY SOURCE OF EDUCATION (LIABILITIES, OBLIGATIONS)

Sources of formation of economic assets according to their ownership and intended purpose are divided into own and borrowed sources (Appendix II).

2.1 Own sources

Equity is the net value of property, defined as the difference between the value of the organization's assets (property) and its liabilities. Equity capital may consist of authorized, additional and reserve capital, accumulations of retained earnings, targeted financing (mainly for non-profit organizations)

The authorized capital is the totality of contributions in monetary terms (shares, shares at par value) of the founders (participants) to the property of the organization upon its creation to ensure activities in the amounts determined by the constituent documents. The authorized capital of a joint-stock company is not a constant value; a joint-stock company can increase or decrease its authorized capital, change its structure.

The process of forming the authorized capital of joint stock companies has certain features. The authorized capital of a joint-stock company represents, on the one hand, the company’s own funds as a legal entity, and on the other, the amount of shareholder contributions. The authorized capital must consist of a set number of shares of different types with a certain par value. When shares are issued, each of them is assigned a certain monetary value, called parity, or par value. This value shows what part of the value of the authorized capital falls on 1 share at the time of registration of the joint stock company. There are usually two types of shares issued: ordinary and preferred. Ordinary shares give the holder the right to vote at the general meeting of shareholders, the right to receive dividends, and the right to participate in the division of the JSC's property in the event of liquidation. The amount of dividends received on ordinary shares depends on the final results of the enterprise. Preferred shares do not give voting rights to their owners, but provide them with certain guaranteed rights, namely: fixed interest income in the form of dividends; receipt of dividends before their distribution to other types of shares; preferential right to receive its share of funds in the property of the joint-stock company in the event of liquidation of the enterprise. A joint stock company does not have the right to pay dividends until the entire authorized capital is paid in full, and also if the value of its property or net assets is less than the authorized capital. The authorized capital is reflected in two main documents of the joint-stock company: the company's charter and the balance sheet.

Extra capital represents an increase in the capital of the organization resulting from the revaluation of non-current assets and the receipt of share premium of the joint-stock company. Share premium is the funds received by a joint stock company from the sale of its shares at a price exceeding their nominal value. Additional capital, unlike authorized capital, is not divided into shares contributed by specific participants - it shows the common ownership of all participants. Additional capital includes property received by the enterprise from other persons and free of charge.

Reserve capital- these are reserves formed in accordance with legislation or constituent documents and intended to cover the organization’s losses for the reporting year, as well as repay bonds and repurchase shares of the company in the absence of other funds.

Reserve capital is created without fail by joint-stock companies and joint organizations in accordance with current legislation.

retained earnings- the balance of net profit remaining at the disposal of the organization based on the results of work for the last reporting year and decisions made on its use. Profit is distributed based on the decision of the general meeting of shareholders in a joint stock company, or a meeting of participants in a limited liability company. Net profit can be used to pay dividends, create and replenish reserve capital, and cover losses of previous years. Reserves for future expenses are reserves created by an organization in order to evenly include expenses in production costs and sales costs. These reserves include reserves for upcoming vacation pay, for repairs of fixed assets, for the payment of annual remuneration for long service, etc.

Special-purpose financing– funds intended for the implementation of targeted activities; funds received from other organizations and individuals from the budget. Targeted financing is usually provided by a higher organization and is intended for specific purposes.

Profit is the difference between the income and expenses of the enterprise and reflects the equity capital of the enterprise, formed as a result of current effective activities. Part of the profit is transferred to the budget in the form of income tax, part is used to pay dividends to investor-owners, form special savings funds, consumption and reserves, and part may remain undistributed.

Special funds, reserves, and retained earnings increase the company's own sources (equity capital).

2.2 Borrowed sources

Borrowed or, as they are also called, attracted sources of economic funds are, first of all, short-term and long-term loans provided to an enterprise by banks, or loans received from legal entities, as well as obligations of an enterprise to other organizations or individuals, for example, to suppliers, budget, company employees

They include accounts payable, as well as bank loans and loans received from other organizations and individuals.

Calculations for short-term loans and borrowings - the amount of short-term (for a period of no more than 12 months) loans and borrowings received by the organization.

Calculations for long-term loans and borrowings - the amount of long-term (for a period of more than 12 months) loans and borrowings received by the organization.

Accounts payable is the debt of this organization to other organizations or individuals, our debt to suppliers, the tax budget, funds (pension, social insurance, health insurance fund), to workers and employees for wages.

A creditor is a legal entity or individual to whom an enterprise has obligations (debts) that must be repaid.

CHAPTER 3. CALCULATION PART

Topic 1. Classification of an organization’s property by type of economic assets and sources of education.

Topic 2. Accounting and double entry

Turnover sheet

LITERATURE

1) Babaev, Yu.A. Theory of accounting: textbook. manual for students / Yu.A. Babaev. – M.: Dashko and Co., 2006. - 792 p.

2) Babaev, Yu.A. Accounting theory: Textbook for universities. – M.: UNITY, 2000. -391 p.

3) Accounting: Textbook for universities / Ed. prof. B94 Yu.A. Babaeva. - M.: UNITY-DANA, 2001. - 476 p.

4) Bulatov, M.A. The theory of accounting: textbook. allowance / M.A. Bulatov. - M.: Exam, 2003. - 256 p.

5) Grekov P.S., Sokolov P.A. "Accounting for intangible assets" - Auditor, 2002, No. 3

6) Guseva, T.M. Accounting theory/T.M. Gusev. – Rostov n/d: Phoenix, 2001. – 396 p.

7) Zakharyin, V.R. Accounting theory: A textbook for students of secondary vocational education institutions. – M.: FORUM: INFRA – M, 2003. – 272 p.

8) Kamordzhanova, N.A., Kartashova, I.V. Accounting financial accounting. – St. Petersburg: Peter, 2002. – 464 p.

9) Kondrakov N.P. Accounting: Textbook. – 4th ed., revised. And additional – M.: INFRA – M, 2001. – 640 p.

10) Kuter M.I. Accounting Theory: Textbook. – 2nd ed., revised. And additional – M.: Finance and Statistics, 2003. – 640 p.

11) Oganesyan, A.A., Pecherskaya, G.A. Fundamentals of accounting (lecture notes). – M.: "Prior Publishing House". 2001. – 160 p.

12) Proskuryakov A.M. Accounting for small businesses. – Vologda: Anlen; Moscow: Zenit – 1992 – 224 p.

13) Accounting Theory: Textbook. manual for universities / Ed. Prof. V.D.Novodvorsky. – M.: UNITY – DANA, 2000. – 294 p.

14) The theory of accounting: textbook. manual for universities on economic specialties / ed. N.P. Lyubushina. – M.: UNITY, 2002.-312 p.

15) Timofeeva, M.V. Accounting in construction organizations: a textbook for students. Higher Textbook institutions/M.I.Timofeeva, L.K.Afanasyeva. – M.: Publishing center “Academy”, 2006. – 336 p.

16) Accounting Moscow, 2006, Publisher: INFRA-M, 716 pages.

APPLICATION

Classification of sources of formation of economic assets of an organization

Classification of accounting objects

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 spheres of application of social labor (material production, commodity circulation and non-production sphere). Fixed assets are involved in the production process for a long time, while maintaining their natural shape. 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. A 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 various types of receivables, which are understood as debts of other organizations or persons of this organization.

Debtors are called debtors. Accounts receivable consists of the debt of customers for products purchased from a given organization, the debt of accountable persons for the amounts of money issued to them on account, 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 physical form and gradually transfer their value to the manufactured product in the form of 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 over a long period of their operation. Intangible assets include rights to use land, 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 expenditure until they are put into operation.

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

(accounts receivable from legal entities 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 an enterprise related to the acquisition of shares and other securities, with investment in the authorized capital of other enterprises.

CURRENT ASSETS (MEDIUM)– investment of financial resources in objects that are used within one reproduction 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 special purpose funds)

Sources of own

(equity) Profit

Reserves and financing

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).

ECONOMIC SOURCES OF ECONOMY

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.

The equity capital of an enterprise includes authorized capital, additional capital, and reserve capital.

Authorized capital– the total amount in monetary terms of 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 preferred 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(equated to accounts payable) is the debt of an enterprise to its employees for accrued but unpaid wages, arising as a result of a discrepancy in time between the moment of its accrual and payment. The same sources include debts to social insurance and security authorities and the tax budget.

BALANCE SHEET

The balance sheet is an accounting document that contains interrelated information about the funds of an enterprise and the sources of their formation, as well as information about the financial position 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

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 characteristics. The totals for 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, since they are related to the 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 borrowings (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”.

The composition of the enterprise's property is quite diverse. It is determined by the content, industry characteristics (specifics), and the volume of economic activity of the enterprise.

The assets of an enterprise have a value expression and are called economic assets.

Economic assets (property) of any enterprise, in order to correctly reflect them in accounting, are grouped according to two criteria: by type and location, by sources of formation and intended purpose.

Based on types and location, funds are divided into seven groups.

Fixed assets- this is part of the property used as means of labor 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 or the normal operating cycle, if it exceeds 12 months. According to the Regulations on accounting and reporting in Russia, fixed assets include: items that last for more than a year, regardless of their cost; items valued at the date of acquisition of more than one hundred times the minimum monthly wage per unit, regardless of their useful life.

Fixed assets include: buildings, structures, equipment, computer technology, vehicles, household equipment, tools, etc.

The peculiarity of fixed assets is that they participate not in one, but in several capital circulations; during operation, they gradually wear out and transfer their value to the finished product in parts. Thus, the cost of fixed assets is repaid gradually: the share of their cost that is subject to monthly inclusion in the amount of the enterprise’s expenses is determined from the standard useful life of them. The process of transforming the cost of fixed assets into enterprise costs during the standard period of their use is called depreciation.

Intangible assets - These are funds that do not have a visible material form, but are capable of bringing their owner both direct income and providing the necessary conditions for its extraction.

Intangible assets used for a long period (more than one year) in the economic circulation of capital include rights arising from:

from patents for inventions, industrial designs, selection achievements, from certificates for utility models, trademarks, trademarks, “know-how”;

rights to use land plots, natural resources and organizational expenses when creating an enterprise.

The cost of intangible assets, as well as the cost of fixed assets, is repaid evenly through monthly depreciation of their cost based on their useful life established by the enterprise itself. If the useful life of intangible assets cannot be determined, then the norms for transferring their value are established for ten years (but not more than the life of the enterprise).

Inventory and household supplies, like fixed assets, they do not lose their original shape and can participate in several cycles of economic assets. In material production, inventory is a means of labor. However, compared to fixed assets, inventory is of lower value and requires relatively quick replacement. Therefore, to facilitate accounting and control, they are included in working capital. Inventory and household items include:

items with a service life of up to one year, regardless of their cost;

items costing no more than one hundred times the minimum monthly wage per unit, regardless of their useful life.

Working capital differ from durable assets (fixed assets, intangible assets) in that they can be converted into money or completely used in the near future (within one year or operating cycle). They participate in one capital circulation, their value is immediately transferred to the finished product and is completely written off as enterprise costs. Working capital is divided into two parts:

objects of labor (raw materials, materials, fuel, etc.), which lose or modify their natural form, are completely consumed in one production cycle, and completely transfer their value to the product.

finished products and goods for resale

Cash - this is the amount of money in bank accounts (settlement, foreign exchange, special, etc.), money transfers, cash at the cash desk of the enterprise.

Financial assets – these are investments (investments) in other enterprises: funds in bank deposit accounts; purchased securities (shares, bonds, certificates, etc.) of other enterprises for a period of up to one year and other types of placement of free funds in order to generate income in the form of interest, dividends or the difference in the value of securities upon resale.

Funds in settlements – accounts receivable, that is, debt to an enterprise for goods and services, products, advances issued, amounts due to accountable persons, etc.

Economic accounting as a method of management presupposes the receipt of economic funds, their intended purpose and use. Deviation from standards, the use of funds for purposes other than those for which they are intended, predetermines disruptions in economic activity. Sources of formation and receipt of economic assets are also included in the number of accounting objects.

Oborrowed funds – This is a conditional accounting object that determines the amount of economic assets withdrawn from economic circulation for one reason or another. They do not take part in economic activities, but for one reason or another informational or control nature are reflected in the accounting system. These include payments to the budget and other organizations at the expense of profits, the use of profits for the formation of funds, other areas of current use of profits, as well as the loss of the enterprise as the final financial result.

By sources of formation and intended purpose The economic assets of an enterprise are divided into two groups: sources of own funds (equity capital); sources of borrowed funds (liabilities)

Sources own The enterprise's funds are: authorized, additional and reserve capital, retained earnings, special funds. Targeted reserve funds are also considered sources of own funds.

atcapital represents the initial equity capital of the enterprise, which is formed in accordance with the constituent documents at the time of registration of the enterprise at the expense of the founders in the form of their contributions (in monetary terms). The formation of authorized capital depends on the organizational and legal form of the enterprise and the form of ownership.

dsurplus capital is formed as a result of the revaluation of non-current assets as the amount of increase in their value. In joint-stock companies, the amount of the difference between the sale and par value of shares when they are sold at a price exceeding the par value is credited to additional capital. Additional capital includes property received by the enterprise from other persons and free of charge.

Rreserve capital is created in accordance with the law and constituent documents through deductions from profits and is intended to cover possible losses of the enterprise in the absence of other sources of compensation.

Ovaluation reserves– these are reserves formed from net profit for the depreciation of securities (for example, they purchased shares, and their rate fell; in order not to go bankrupt, they use a reserve).

Special-purpose financing – funds allocated by the parent company to its structural divisions and subsidiaries for certain purposes.

Special funds, reserves, and retained earnings increase the company's own sources (equity capital).

Pprofit represents the difference between the income and expenses of the enterprise and reflects the equity capital of the enterprise, formed as a result of current effective activities. Part of the profit is transferred to the budget in the form of income tax, part is used to pay dividends to investor-owners, form special savings funds, consumption and reserves, and part may remain undistributed.

Borrowed sources(liabilities) are external sources of resources of the enterprise, they are usually called lenders. Liabilities can be short-term or long-term. Short-term liabilities are those that are due to be repaid within one year, and long-term liabilities are those that are due to be repaid over a period of more than one year. The term “borrowed capital” can be used to characterize long-term liabilities.

Short-term liabilities include: short-term bank loans; short-term loans issued to third-party enterprises; accounts payable for settlements with enterprise employees, suppliers, financial authorities, social insurance and security funds, other enterprises and individuals.

A creditor is a legal entity or individual to whom an enterprise has obligations (debts) that must be repaid.

Debt obligations include: long-term bank loans; long-term bills of exchange issued to creditors and suppliers for goods received - tangible assets; other debt loans.

Depending on the composition and location (nature of use), economic assets are divided into: non-current (fixed capital) and current assets (working capital).

Non-current assets include intangible assets, fixed assets, construction in progress, profitable investments in tangible assets, long-term financial investments, deferred tax assets, and other non-current assets.

Intangible assets are long-term use objects that do not have a physical basis, but have a valuation and generate income: intellectual property objects (exclusive rights to inventions, industrial designs, utility models, computer programs, databases, trademarks and service marks, name place of origin of 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 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 spheres of application of social labor (material production, commodity circulation and non-production sphere). Fixed assets are involved in the production process for a long time, while maintaining their natural shape. Their cost is not transferred to the products being created immediately, but gradually, in parts, as depreciation occurs.

Construction in progress is the organization's expenses for construction and installation work, acquisition of buildings, equipment, vehicles, tools, inventory; expenses for design and survey, geological exploration and drilling work, etc.

Profitable investments in material assets are investments of an organization in part of the property, buildings, premises, equipment and other assets that have a tangible form, provided by the organization for a fee for temporary use in order to generate income. progress. 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 are 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. A deferred tax asset arises when the moment of recognition of expenses (income) in accounting and tax accounting does not coincide. Current assets (working capital) consist of tangible current assets, cash, short-term financial investments and funds in settlements. Material current assets 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 is generated from cash balances in the organization's cash desk, current account and other bank accounts.

Funds in the calculations include various types of receivables, which are understood as debts of other organizations or persons of this organization. Debtors are called debtors. Accounts receivable consists of debt from buyers for products purchased from a given organization, debt from accountable persons for sums of money issued to them on account, etc. Current assets are reflected in the second asset section of the balance sheet.

Classification of economic assets by sources of education and intended purpose

Depending on the sources of education and intended purpose, the economic assets of organizations are divided into their own (equity capital) and borrowed funds (borrowed capital). Equity is the net value of property, defined as the difference between the value of the organization's assets (property) and its liabilities.

Equity capital may consist of authorized, additional and reserve capital, accumulations of retained earnings, and targeted financing (mainly for non-profit organizations). Own capital is reflected in the third liability section of the balance sheet. The authorized capital is the totality of contributions in monetary terms (shares, shares at par value) of the founders (participants) to the property of the organization upon its creation to ensure activities in the amounts determined by the constituent documents. The authorized capital of a joint-stock company is not a constant value; a joint-stock company can increase or decrease its authorized capital, change its structure. Additional capital, unlike authorized capital, is not divided into shares contributed by specific participants - it shows the common ownership of all participants. Additional capital is formed from: share premium of the joint-stock company; increase in the value of non-current assets; positive exchange rate difference on foreign currency deposits in the authorized capital.

Reserve capital is created without fail by joint-stock companies and joint organizations in accordance with current legislation. The reserve capital of a joint stock company is intended to cover its losses, as well as to repay the company's bonds and repurchase the company's shares in the absence of other funds.

Retained earnings - profits are distributed based on the decision of the general meeting of shareholders in a joint stock company, or a meeting of participants in a limited liability company. Net profit can be used to pay dividends, create and replenish reserve capital, and cover losses of previous years. As already noted, part of the value of the organization’s property is formed from its own capital, the other part from the organization’s obligations to other organizations, individuals, and its employees, that is, borrowed funds. The liabilities of organizations are long-term and short-term bank loans, borrowed funds, deferred tax liabilities, and accounts payable. The organization receives long-term loans for a period of one year for the introduction of new equipment, organization and expansion of production, mechanization of production, etc.

The organization receives short-term loans for a period of up to one year for inventories, payment documents in transit and other needs. Borrowed funds are loans received from other organizations against bills of exchange and other obligations, as well as funds from the issue and sale of shares and bonds of the organization. Loans received for a period of up to one year are short-term, and for a period of more than one year - long-term. Deferred tax liabilities arise when expenses are recognized in accounting later than in tax accounting, and income is recognized earlier. Accounts payable are the debt of a given organization to other organizations, which are called creditors. Creditors whose debt arose in connection with the purchase of material assets from them are called suppliers, and creditors to whom the enterprise owes money for non-commodity transactions are called other creditors. Accounts payable are also debts to workers and employees for wages, social insurance and security authorities, and tax authorities for payments to the budget. They appear due to the fact that the moment the debt arises does not coincide with the time of its payment. During the work of the organization, there is a circulation of economic assets, in which four processes are distinguished: procurement, production, sale, circulation process. In accounting, these processes are represented by separate business transactions, the content of which is the movement of funds, the change of one form of property to another (for example, when selling finished products, the organization’s property changes its commodity form to cash). The procurement process is the first phase of the circulation of economic assets, in which the enterprise acquires objects of labor and means of labor that form the means of production, paying for them with producers in cash or other assets. In the procurement process, such business transactions as the receipt of raw materials from suppliers necessary for production and business needs are taken into account, and transportation costs for their delivery are paid. During the production process, the main task is performed - the production of finished products, the performance of work, the provision of services, the calculation of wages, the calculation of depreciation (wear and tear) of fixed assets, etc. are taken into account. During the sales process, contractual obligations are carried out to customers and buyers for the sale of finished products, performance of work, provision of services; receipts to the current account of sales proceeds, write-off of production costs of products and calculation of profit and its attribution to the “Profit and Loss” account are taken into account. The circulation process includes settlements with various debtors and creditors, since the organization may have business operations - repair of fixed assets, capital construction, etc. However, the main content of the organization’s work is the processes of supply, production and sale of products, performance of work, provision of services. These processes are interconnected, complement each other and are objects of accounting.