Means intangible assets and tangible. Intangible and tangible assets

Every business operates for its own benefit. It cannot make a profit out of nothing, therefore it has certain economic resources. Such resources are necessary for investments, purchases, sales and other manipulations from which financial benefits are expected in the future. Economic resources in science are called assets. They need to be taken into account, monitor their turnover, compare indicators, and so on. There are several types of them, we will talk about them below.

What are organizational assets?

These are all rights to the property that the enterprise has (fixed assets, stocks, financial contributions, monetary claims to legal entities and individuals). The concept of tangible assets or assets in general is used to refer to any kind of property. This economic concept includes 4 types:

How are they counted?

Accounting for intangible assets is based on the principle of current and non-current assets. Circulating assets are endowed with a property that implies their constant use in the production process or other activities of the enterprise. Non-current assets are reflected in accounting documents, even if they have already been removed from economic management affairs of the enterprise (turnover). Tangible assets are accounted for by specially trained people - accountants. They see where the funds are spent, for what and how much profit the company received from this.

Tangible production assets

Production economic resources can be own, rented and located in free use. Tangible assets acquired under the rights of financial leasing are not defined as own, but as being under the control of this company.

Intangible assets of the enterprise

This type of assets includes goodwill, that is, the business reputation of the company, objects of intellectual labor (intellectual property - IP). The owner of IP has the exclusive right (IP) to the object of intellectual work:

How are assets accounted for in a company?

Depending on the type of activity, there different types accounting. Also the financial analysis depends on the system of taxation applied to the enterprise. V small firms often the director himself keeps records, there are often cases of seeking help from specialists working in an incoming mode.

V Lately outsourcing services have become popular. Specialists of this orientation clearly and promptly monitor various changes in legislation and, therefore, are aware of all innovative introductions. This means that such a specialist will be able to provide high-quality and qualified support in accounting for production assets or taking into account the tangible assets of other enterprise resources.

Outsourcing services are not neglected by large companies either, since an employee working in a regular mode does not always have time to attend all advanced training courses or relevant seminars.

When the work is in the hands of professionals, the manager can be sure that the documentation is in order at his enterprise. This means that he can effectively plan his day and respond to weak points in time.

Cost accounting for the search for various natural resources

MPA, or material search assets are needed to carry out prospecting work and processes for assessing natural resources (places of mineral deposits, etc.). The funds spent on the search are material in nature (expression):

• various systems of structures (pipelines);
• special equipment (drilling rig, pump, reservoir, and so on);
• transport.

In accounting, tangible exploration assets have a separate line (balance sheet) where they are recorded. There is also a separate account for non-current assets (their investments). The firm determines the types of search costs. The remaining tangible and intangible assets are accounted for by type ordinary activities. Non-current assets refer to a separate subsoil plot for which there is a license, and are hereinafter referred to as “exploration assets”.

Search costs are attributed to the creation (acquisition) of an object and are called IPA, and all others are intangible search economic resources:

• the right to perform prospecting, evaluate and conduct exploration of deposits;
• topography;
• exploration results from drilling and sampling;
• various other geological information about the subsoil;
• assessment of the commercial feasibility of the production project.

Funds of a tangible nature and intangible, related to search, are accounted for on different sub-accounts. The accounting unit that takes into account the tangible and intangible assets of search areas is determined taking into account fixed assets and intangible resources, respectively.

Valuation of tangible assets

By assessing the material economic means, apply the calculation method net worth(balance sheet). It is the simplest, but has its drawbacks. There are other methods as well.

To obtain a net value that takes into account tangible production assets, all short-term and long-term liabilities of the company are subtracted from the currency value on the balance sheet. Yes, the cost is included. equity companies. This is the value of the net asset value.

The main drawback in this calculation is the lack of reflection of the potential profit that can be obtained from assets. In the presence of a high inflation rate, the result of this technique quickly ceases to be realistic. In addition, when assessing fixed assets using this method, the initial cost of tangible assets becomes less by the amount of depreciation. This analysis of the value of funds in the balance sheet, which is taken into account and is called residual, differs significantly from the market value.

Another drawback is found when accounting for tangible assets by this method is that the book value includes assets with a high estimate. This is due to their repeated re-evaluation. At the same time, liquidity turns out to be small, since assets are difficult to sell or their sale is impossible. Such economic resources do not have a market value, although they are included in book value firms.

Enterprise assets represent the economic resources controlled by the enterprise. The assets of a business are the totality of property and Money belonging to the enterprise, firm, company, in which the funds of the owners, owners are invested.

Assets are formed from the capital invested in them; characterized by deterministic cost, productivity and ability to generate income. The constant turnover of assets in the process of their use is associated with the time factor, risk and liquidity.

The company's assets include:

Property of a legal entity (enterprise), which has a monetary value;

Ownership of a legal entity and attracted funds;

Securities;

Commodity- material values;

fixed assets;

Financial investments invested in enterprises of other entities;

Own patents;

inventions;

- "know-how";

Rights to use land and natural resources;

Any other property of an economic entity (enterprise, firm, company, etc.) that can be used to carry out entrepreneurial activities.

Distinguish tangible assets, assets intangible, as well as financial assets(Fig. 4.1).

Material assets is the property of legal or individuals, which has material form and monetary terms. This:

Land owned;

Buildings and structures for industrial and non-industrial purposes;

Administrative buildings;

Non-industrial facilities that are on the balance sheet of the enterprise (residential buildings, educational, children's, medical, health, sports and other institutions, premises that are on the balance sheet of the enterprise);

Installed and uninstalled production equipment;

Movable property for non-production purposes;

Stocks of raw materials, fuel, semi-finished products (in warehouses, workshops and on the way), finished products;

property, fixed assets, land leased, which belong to the enterprise; branches; affiliated companies, if they do not have the status of a legal entity, and their balance sheets are not separated from the balance sheet of the parent company.

Tangible assets are divided into reproducible(inventory, fixed assets, material and artistic values) and irreproducible (land, subsoil).

In addition to the material resources of the enterprise, which include fixed assets and working capital, the effectiveness of its activities depends on the availability and degree of use of intangible resources.

TO intangible resources include those resources that do not have a material basis, but are able to bring profit or benefit to the enterprise (firm) for quite a long time. The main feature of such resources is the inability to determine the total amount of benefits that they bring.

Intangible assets- conditional value of objects of industrial and intellectual property, other similar property rights, recognized as the object of the property right of a particular individual or legal entity, which bring him income.

Intangible assets - these are assets that do not have a material structure, new category as part of the company's property.

Main specific traits intangible assets:

Absence of material-material (physical) structure;

Use for a long time;

The ability to benefit the enterprise;

A high degree of uncertainty about the size of possible future profits from their use.

All intangible resources are divided into objects of industrial and intellectual property.

TO industrial property relate:

inventions;

industrial designs;

Rationalization proposals;

know-how;

Trademarks and trademarks;

Goodwill.

invention called fundamentally new technical solution existing production problem, giving positive effect for the field of national economy.

industrial design is a model of a product developed by the author or a group of authors that will be produced on this enterprise. An industrial design can be three-dimensional, flat (figure) or combined and is intended for demonstrating products at presentations and exhibitions. A sample is considered new if the set of properties of a new product is not known in any of the countries before fixing its priority.

Rationalization proposal - it is a useful recommendation regarding the technique and technology used in a single enterprise. Unlike inventions, it may already be known at other enterprises or in the areas of the national economy, but at this enterprise it is used for the first time: this is an improvement in the technology used, manufactured products, methods of control, observation and research; improving safety; increase in labor productivity, efficiency in the use of energy, materials, etc.

know-how ("know how to do") - this is certain knowledge and experience of the enterprise in any area of ​​​​its activity: scientific, technical, industrial, managerial, commercial, financial, for which the enterprise has spent significant funds. Know-how is not protected by security documents, but is not disclosed.

Trademarks and trademarks - These are the original symbols by which the product of this company differs from the products of competitors.

Goodwill this is the formed image of the company, the components of which are experience, business connections, prestige of trademarks, regular clientele, goodwill and favor of consumers, etc.

To intellectual property relate:

Information activities related to the receipt of information materials, their processing, storage, use and distribution;

Software - characterized by a set of software, organizational and technical means designed for centralized accumulation and use of information;

Database;

Knowledge base, as well as works of literature and art.

The rights to use objects of industrial and intellectual property are called intangible assets enterprises. Separate elements of intangible assets have legal protection in the form of a patent and copyright.

Patent - This is a government issued document government agency) to a person or an enterprise with the provision of the exclusive right to use the invention or rationalization proposal specified in the patent. The patent owner creates a monopoly on the industrial or other commercial use of intangible resources and, if necessary, can prohibit anyone from using them without specific permission.

Ownership rights to intangible resources can be exercised either by their owner, or by a trustee, or by an enterprise.

Permission to use intangible resources is called licensed. It provides that the user (licensee) will use industrial or intellectual property for the period specified in the license and will pay a fee to the owner (licensor).

Such remuneration may be paid in the form of established certain rates to the volume of net sales, the cost of production, to the cost of a unit of licensed products. (royalties) or as a one-time for the entire period of use (lump payment). In fact, the lump sum is a fee for the license.

financial assets- these are funds of individuals or legal entities in objects from which profit is expected in the future:

Cash on hand;

Bank deposits;

Contributions;

checks;

Insurance policies;

Investments in securities;

consumer credit;

Shares of other enterprises that give the right to control;

Specific assets (monetary gold and special drawing rights).

The problem of an objective assessment of the value of company assets in the current economic situation is becoming more and more important because:

• the value of assets is the initial information for developing a strategy and tactics for the implementation of the operating activities of any enterprise, as well as subsequent monitoring of the implementation of goals and objectives, their adaptation to changing conditions;
• the value of assets serves as the basis for obtaining reliable information about financial position company and the results of its activities, as well as their analysis;
• objective data on the assets of the country's enterprises (broken down by industry) are necessary for the authorities government controlled when developing directions for a balanced strategic development of the economy and meeting the needs of the country, guaranteeing it national security, as well as in the implementation of the adopted economic policy;
• adequate value of assets creates prerequisites for maintaining stability banking system, since assets often act as collateral when obtaining a loan.

In a crisis and in the post-crisis period, the issues under consideration are of particular importance due to the fact that:

• firstly, for the majority of national enterprises, the value of their assets has sharply decreased over the past stage of crisis processes;
• secondly, this decrease in most cases was not reflected in their official reporting.

At the same time, the value of assets acts as an indicator of the prospects for the development of an enterprise in the post-crisis period. It is clear that an objective asset valuation will allow proactive measures to be taken to minimize the negative effects of possible situations of an ongoing crisis and to maximize future potential benefits.

Of all the assets, intangibles are the most difficult objects of study. It should be noted that global trends indicate the ever-increasing influence of intangible assets on the value of companies. Over the past 20-30 years, intangible assets have become the main asset class of large corporations. At present, the value of companies is no longer considered as a set of tangible assets - the share price reflects the significance and value of all intangible assets, including objects of patent rights, trademarks, copyrights, etc.

To be recognized as an intangible asset, it must have a number of characteristics.

The ability to accurately identify and have a specific and recognizable description. Unlike, for example, real estate, intangible assets, of course, cannot always be described using actual boundaries and parameters. But at the same time, an intangible asset should have a clear and fairly simple definition that distinguishes it as a unique object.

Legal recognition and the ability to provide legal protection. In most cases, the ability to control an asset implies the existence legal rights for the use of NMA. It is by the criterion of control that one can distinguish intangible assets from intangible resources. The latter may include staff qualifications, customer loyalty, market share, etc., however, as a rule, a company cannot demonstrate the possibility of obtaining economic benefits from the use of these resources, since it is unlikely to be able to control the action of such resources. external factors, as the behavior of staff, the reaction of competitors and customers.

Availability of material evidence or evidence of its existence(contract, list of clients, registration certificate, etc.). This requirement does not affect economic value Intangible assets (for example, the absence of formal documentation for know-how does not mean that its owner cannot receive any benefits from its use), however, is prerequisite for its existence as an identifiable entity.

The ability to accurately establish the date of its occurrence or creation. Despite the fact that intangible assets, like other types of assets, can be created or developed over a long period of time, each such asset must have a well-defined date of creation (for example, the date of signing a contract, granting a patent).

Termination of existence at an identifiable point in time or as a result of a specific event. The requirement to determine the life of an intangible asset does not mean that a specific date for the termination of its existence must necessarily be set, although for many intangible assets this is possible (for example, the expiration of a contract or patent).

When evaluating intangible assets, it must be taken into account that they often have an extremely narrow scope, and this significantly limits their ability to generate income, since intangible assets are often created by the company itself, and not acquired on the market. However, this does not mean at all that they can be easily recreated. The uniqueness of each intangible asset and the absence active market such assets make it much more difficult to select analogues for them, in contrast to tangible assets.

Taking into account the Russian valuation practice, intangible assets can be classified into the following main categories:

1. technological (inventions, utility models, industrial designs, production secrets (know-how), topologies of integrated circuits, design and technical documentation, specifications, teaching materials);
2. marketing (trademarks and domain names);
3. contractual (license agreements, franchising agreements);
4. Intangible assets related to data processing ( software Database).

Each of the above categories of intangible assets is characterized by its own set of factors that affect their value, in particular: absolute / relative age, universality, expansion potential, commercialization costs, means of commercialization, specificity (industry of application / use), geography of use, market share , competition, projected demand, associations.

Of course, not all of the above factors apply to every category of intangible assets, and not all of them have the same impact on their economic value. In addition, it should be noted that for each individual factor there is a wide range (both quantitative and qualitative) of possible positive and negative impacts on the value of a particular type of intangible asset.

At the same time, there are parameters common to all intangible assets that have the most significant impact on their value, namely: the life of the asset, the possibility of reproduction / reproduction of the asset, restrictions on use and the stage of development / use.

Speaking of tangible assets, in the context of the economic crisis, many experts in the market commercial real estate come to the conclusion that there is no such thing as "market value".

In accordance with FSO No. 2, under market value valuation object is understood as the most probable price at which this valuation object can be alienated on the open market in a competitive environment, when the parties to the transaction act reasonably, having all the necessary information, and any extraordinary circumstances are not reflected in the value of the transaction price. However, in the current crisis conditions, most transactions have to be made “in a forced manner”, when real estate objects are transferred to creditor banks as part of debt restructuring or are forced to be sold in search of the necessary funds at a significant discount.

Among the most common factors that characterize the commercial real estate market in the “era of crisis” are: a decline in demand for rental and sale, a significant decrease in offer prices and rental rates, as well as the bankruptcy of many developers.

As a rule, in such a situation, the number of transactions is minimal. The main structure of demand is high-class office properties (classes A and B), business-class residential premises, as well as development projects offered at a large discount, moreover, many objects are not exhibited on the open market.

During the crisis period, a relatively new concept appeared on the commercial real estate market - “distressed assets”, which is used quite often in the current crisis conditions. In general, these assets include objects that can be purchased at a significantly lower cost or with debt obligations. The key features of distressed assets are: high level vacant space, significantly reduced rental rates compared to existing market rates, low operating income, the presence of significant loans from anchor tenants. The main reason for the emergence of problem assets is the lack of resources for the owners/investors to maintain the property in good condition.

Over a fairly long period, there has been a noticeable increase in stock market accompanied by an increase in the value of tangible and intangible assets on the balance sheet of organizations. The deterioration of the economic situation in Russia due to a sharp decline in world prices for energy resources, the sale of which makes up a significant part of the Russian budget revenues, as well as the introduction of economic sanctions against the Russian Federation, caused a significant depreciation of the ruble against foreign currencies, rising inflation, a decrease in real incomes of the population and a significant deterioration in the situation in a number of sectors of the Russian economy.

The decline in the purchasing power of the population and the lack of funds from enterprises, the unpredictable dynamics of prices for raw materials, the deterioration of macroeconomic indicators and a number of other factors called into question the size and stability of future cash flows, as a result of which companies are forced to adjust their development forecasts.

Negative tendencies of pessimistic forecasts can be observed in the analysis financial reporting Russian enterprises that published statements in accordance with international standards Financial Statements (IFRS) or US Generally Accepted Accounting Regulations (GAAP). Thus, a significant part of companies recognized the impairment of such assets as fixed assets, goodwill, and other intangible assets in their statements for 2013 and 2014.

This article considers the impairment various kinds assets largest companies oil and gas sector, tangible assets in the balance structure of which occupy a significant share, as well as assets of financial sector enterprises. The specificity of the latter lies in the fact that the main asset of such companies is not fixed assets and intangible assets, but issued loans, the risk of impairment of which is quite high, and the amount in monetary terms exceeds the amount of fixed assets of companies in other sectors of the economy.

If we talk about the number of companies that recognized impairment of assets in their financial statements for 2014, the following can be noted:

• Of the studied 8 public companies in the oil and gas and financial sectors of the economy, 4 and 7 companies, respectively, recognized the impairment of assets for 2014, which is about 50 and 88% of the total sample.
• The largest share of impairment recognized by companies in the oil and gas sector relates to tangible assets, in particular fixed assets and assets for sale, which is explained by negative changes in the economic situation and a sharp decline in oil prices.
• For companies in the financial sector, the impairment of intangible assets in the form of goodwill/goodwill is more typical, which is explained by the negative impact of the current macroeconomic situation on the development business.

It is important to note that, despite the increase in the degree of information disclosure, there is still a small number of companies (on average 25% of the companies from the presented sample) that do not disclose information about discount rates. In addition, many organizations do not pay much attention to such information.

When disclosing information about the discount rate used, most companies do not indicate the type of rate and characteristics cash flow: whether a discount rate is used for pre-tax or post-tax flows, in nominal or real terms, in what currency the forecast cash flows are denominated.

When comparing the discount rates used for the period from 2013 to 2014, the following assumptions were made: firstly, if the reporting does not contain weighted average cost capital for the company as a whole, then the rate indicated for a particular unit, or the average of the indicated rates, is taken as such; secondly, unless otherwise specified, it is assumed that the rate is pre-tax, nominal and denominated in the reporting currency.

The analysis in terms of disclosing discount rates shows that average value applied discount rates increased. The average cost of capital in 2013 for enterprises in the oil and gas and financial sectors of the economy was 8.19% and 11.62%, respectively, in 2014 it increased to 12% and 16%, respectively. In the oil and gas sector, the number of companies that used a discount rate of more than 12% increased significantly. The increase in the cost of capital is due to the deterioration of the macroeconomic situation - the growth of risks and borrowing rates.

The existing financial and economic crisis led to a significant impairment of various types of assets: property, plant and equipment, goodwill and other intangible assets, investment/securities, etc.

A significant part of the factors affecting the impairment of assets relate to environmental factors that are not controlled by companies due to objective reasons, in this regard, in order to improve the comparability of reporting data from period to period, increase its transparency and make the right management / investment decisions, companies need to regularly test for impairment of assets.

Introduction

1. Tangible assets 4

2. Intangible assets....... 13

Conclusion 25

List of used literature 26

Introduction

Enterprise assets - a set of property rights belonging to the enterprise in the form of fixed assets, stocks, financial contributions, monetary claims to other physical and legal entities. In other words: assets are investments and claims. The term "assets" is also used to refer to any property, property of the organization.

Assets are usually divided into tangible and intangible. Intangible assets include non-monetary assets that do not have a physical form and meet the following conditions:

Possibility of identification from other property.

Use in the manufacture of products, in the performance of work or the provision of services, or for the management needs of the organization.

Ability to bring organizations economic benefits(income).

Availability of documents confirming the existence of an asset and the exclusive right of the enterprise to the results of intellectual activity (patents, certificates, other titles of protection, an agreement on the assignment (acquisition) of a patent, trademark, etc.).

Goodwill of the organization (goodwill) and objects of intellectual property can be classified as intangible assets. In turn, objects of intellectual property (exclusive right to the results of intellectual activity) include:

The exclusive right of the patent owner to an invention, industrial design, utility model.

The exclusive right of the owner to the trademark and service mark, the appellation of origin of goods. The exclusive right of the patent holder to selection achievements.

Tangible assets

The order of reflection of material circulating stocks is determined by IFRS-2 ​​"Inventories". Inventories, in accordance with the standard, include assets in the form of raw materials and materials for use in the production of products and services or held for sale in the normal course of business or used in the production process for such sale. Therefore, working stocks are goods purchased and held for resale in the broadest sense of the word. If land, real estate, machinery and machinery are purchased for resale, they are included in current inventories and accounted for as goods. Inventories include raw materials and materials, finished products, work in progress.

IFRS-2 ​​applies to inventories to be measured at historical (original) cost. Inventories covered by this standard must be valued at the lower of cost and net realizable value.

Potential net selling price is the estimated selling price in normal market conditions less the cost of work and possible selling expenses associated with the implementation.

The cost of inventories includes the costs of acquiring, processing and other costs associated with bringing the inventory to its current location and bringing it to the state it is in at the moment.

Acquisition costs (transport and procurement costs) include the purchase price, import duties and other non-refundable taxes, intermediary and consultant costs, transport, forwarding and other costs directly attributable to the purchase of goods, materials and services. Trade discounts, chargebacks and other similar amounts are deducted from these costs.

Processing costs include direct labor and other similar direct costs, as well as systematically allocated fixed and variable production overheads.

Fixed manufacturing overheads for each unit of output are allocated on the basis of production capacity enterprises under normal operating conditions. The amount of these costs, included in the cost of a unit of output, remains unchanged when the volume of production decreases and even when it stops. But variable overhead costs are fully allocated to products manufactured in this reporting period.

Other costs are included in the cost of tangible current assets only if they are directly related to the processing of this asset.

The cost of inventory should not include:

excess losses of raw materials and materials, labor and other production costs;

storage costs, other than those necessary in the production process;

administrative expenses not related to bringing stocks to their present location and condition, as well as selling (selling) expenses.

All these expenses are included in the expenses of this reporting period.

The standard allows the use of the standard method for determining the cost of inventories and the method for accounting convenience. retail prices, if during their application deviations from real values the cost is small and we can say about the approximately correct value of the cost. The standard cost should be reviewed regularly and revised as necessary.

The retail price method is used in retail by adding a certain margin to the purchase price of goods, which in Russian terms is called a trade margin.

Inventory cost calculations. IFRS 2 establishes that the cost of those inventories that cannot be considered as fungible, as well as goods and services produced for use in special projects, is determined individually for each such inventory.

Inventories that differ from the definition discussed above are valued at weighted average cost or using the FIFO (first in, first out) formula. The average cost is calculated periodically or as each next delivery arrives. Since 2005, it is not allowed to use an alternative approach to determining the cost using the LIFO formula (last receipt - first issue to expense). Each entity is required to apply the same cost formula for all inventories that have the same use characteristics. For different characteristics and use of stocks, different cost formulas can be applied.

The average actual cost of incoming circulating stocks is the sum of their invoiced cost paid to the supplier upon purchase, transportation and procurement costs. Transport and procurement costs vary depending on the size of the consignment, changes in the geography of suppliers, the type of transport used, methods of loading and other factors. The invoice value of material assets also changes. Therefore, in practice, the actual procurement cost is determined as a weighted average based on all incoming batches and actual supply conditions for the reporting period.

Evaluation of material assets at purchase prices. The definition of "purchase prices" is ambiguous. Purchase prices include contract prices with discounts and discounts, and the so-called invoice prices, that is, the cost of material assets arising from the supplier's invoice. Invoice prices are determined by agreement with the inclusion of the cost of various additional services, transport costs.

Valuation by FIFO and LIFO methods. FIFO is a method of valuing material assets by their original cost. With this method, the rule is applied: “the first batch for income - the first for consumption”, that is, the consumption of material assets is estimated at the cost of their acquisition in a certain sequence: first, the cost of the material is written off as an expense at the price of the first purchased batch, then the second, third, and so on in order until the total amount of material is exhausted. The order of evaluation does not depend on the actual sequence of expenditure of batches of received materials.

Inventories are shown in the balance sheet for separate items in accordance with their classification based on the method of use in the production of products (works, services) and other activities.

As of the end of the reporting year, inventories are reflected in the balance sheet depending on the accepted method of valuation of inventories when they are disposed of.

V financial statements subject to disclosure the following provisions accounting policy organizations:

methods for estimating inventories by type;

change in methods for estimating inventories as a result of these changes;

difference between actual cost and cost possible sale reserves allocated to financial results organizations, in cases of reduction selling prices; damage to values; if there are inventories in the assessment exceeding the cost of their possible sale at the end of the year.

Inventory in Russian legislation are regulated by the Accounting Regulation “Accounting for inventories” (PBU 5/10), approved by order of the Ministry of Finance of the Russian Federation dated 09.06.01 No. 66n.

The following assets are accepted for accounting as inventories: used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services); used for the management needs of the organization.

According to IFRS-2, the measurement and reflection in accounting and reporting of the value of inventories should be carried out at the lower of two estimates: at cost or at market price. In this case, the cost price serves as the main initial base for the valuation of reserves. It should include the purchase price of goods, the cost of delivery, storage and processing. Thus, the methodology for determining the cost of inventory of Western firms corresponds to the methodology for determining the actual cost Russian standard. Distinctive feature PBU 5/01 is the inability to apply the market price, with the exception of inventory items received free of charge.

In the Soviet system accounting the calculation of the total cost included all costs: both production and general business, the new Russian accounting system inherited the same approach.

According to world practice in IFRS, the cost products sold Only production costs, both direct and indirect, are included. Their sum shows what the company costs to produce products. The costs related to the management of the organization, the depreciation of management buildings, the costs of maintaining the management apparatus, support services are not directly related to the production process, and therefore their confusion with production costs(debit account 20, credit account 26) is invalid.

fixed assets

The methodology for accounting for property, plant and equipment is set out in IFRS-16 Property, Plant and Equipment (as revised in 1993). Fixed assets (property, machinery and equipment) are defined in the standard as tangible assets necessary for the production and (or) sale of goods and services, for administrative and management purposes or for leasing, term beneficial use which exceeds the annual reporting period.

Fixed assets include a reliably determined value of assets that will be useful in economic activity and bring some economic benefits to the organization in the future. If the economic benefits are not obvious, then the costs of acquiring fixed assets are not recognized as tangible assets and are written off as an expense to reduce the profit of the reporting period. The standard recognizes that most spare parts, fixtures and equipment for the maintenance of property, plant and equipment should be accounted for as current tangible assets (stocks).

The actual cost of fixed assets is the basis for recognizing an object as an asset. It serves to evaluate the object, first taken into account in the organization.

The actual cost of the property includes the purchase price, import duties and non-refundable purchase taxes, any other direct costs of bringing the property to working condition. Any trade discounts are deducted from the actual cost. Administrative and management overheads are not included in actual cost object, unless it is proved that they are directly related to its acquisition and bringing to working condition.

What are the assets of the organization we talked about in. Recall that assets are economic assets that the organization has gained control over as a result of past events and which should bring economic benefits to it in the future (clause 7.2 of the Accounting Concept in the Market Economy of Russia). And what is the difference between tangible assets and intangible assets, and what applies to these two groups?

The composition of the organization's assets

It is convenient to consider the composition of the organization's assets based on the analysis of the relevant section balance sheet. In it, the company's assets are presented in following form:

And which of the presented assets are tangible and which are intangible?

What assets are intangible on the balance sheet?

At first glance, the answer lies on the surface. Intangible assets include the Intangible Assets themselves, as well as intangible prospecting assets. Here and further in our consultation, in order to distinguish the term "Intangible assets" applied to assets recorded on account 04 "Intangible assets" in accordance with PBU 14/2007, capitalization of assets will be used (Intangible assets). And for assets in general, which do not have a tangible form (which include Intangible Assets), capitalization will be used.

Recall that Intangible assets are the results of intellectual activity and other objects of intellectual property that the organization intends to use in the production of products (performance of work, provision of services) or for its management needs for a period of more than 12 months. One of the criteria for recognizing an object as an intangible asset is precisely the absence of a tangible form (paragraph “g”, paragraph 3 of PBU 14/2007). We talked more about the Intangible Assets of the organization in a separate one.

And intangible prospecting assets include the costs of searching, evaluating mineral deposits and exploration of minerals in a certain subsoil area, which do not relate to the acquisition or creation of an object that has a material form (clauses 2, 6 PBU 24/2011) .

However, the list of intangible assets is not limited to these two types. Intangible assets and intangible exploration assets, reflected in the balance sheet in lines 1110 and 1130, respectively, are rather the most obvious of them.

But the absence of a material form is also characteristic of other types of enterprise assets.

Such assets include, for example:

• financial investments;
• delayed tax assets;
• VAT on purchased assets;
• accounts receivable other.

Tangible assets in the balance sheet

Typical representatives of tangible assets in the balance sheet of an organization include:

• fixed assets;
• profitable investments into material values;
• reserves.

However, even inventories may contain assets that can be classified as intangible. For example, in addition to finished products and goods, this line of the balance sheet can take into account, for example, expenses for the sale of products and goods ( business expenses), which usually do not have a material-material form.