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Many newcomers to the field of business rarely pay the proper level of attention to issues related to accounting. Such an attitude to financial transactions can adversely affect the company's activities. In addition, the lack of attention to accounting activities can cause unintentional violation of the law. It is important to note that in case of violation of the rules for conducting financial transactions, the entrepreneur will face not only administrative, but also criminal liability. In this article, we propose to consider financial and other current assets in the balance sheet, which are of paramount importance for every businessman.

Current assets in the balance sheet - this is the resource potential of the enterprise, intended for use in the production process, and also located in the sphere of circulation

What does "current assets" mean?

The active part of the balance sheet of each company contains information about the property values ​​at its disposal. All assets of the company can be divided into two conditional groups: current assets and non-current assets. The first group includes various property values ​​of the company used in the course of economic activity. This category includes production equipment, vehicles and a number of others material assets. The turnover of assets includes three separate stages, during which the above values ​​change their own economic structure:

1. First stage. At this stage, the financial resources of the company are converted into the production capacity of the enterprise. An example of this stage of turnover is the acquisition of raw materials, production equipment and other resources necessary for the operation of the company.
2. Second phase. At this stage, working capital transfers its value to the price of manufactured products. It is important to note that this process is carried out only once. As a rule, this stage involves the introduction of new technologies for the production of marketable products.
3. The final stage. At the final stage, finished products are sold through various markets, which brings new financial resources to the manufacturing company.

Carrying out activities aimed at assessing the value of working capital, allows you to determine the amount of resources that can be used during the production cycle. The results of this assessment form the basis of the strategy for creating working capital of the company . Proper optimization of such funds allows you to identify assets with the highest liquidity. Such funds can be used in the production process, and can be converted into financial resources.

What forms the resources of the enterprise

The company's current assets are separate category financial resources and material resources that can be used in the production process. The main component of working capital is cash and cash equivalents. This article of the balance sheet can include both the cash kept at the cash desk of the company and the funds available on the company's current account. Cash equivalents are financial assets that are short term. Funds belonging to this group must meet certain criteria. As a rule, such material assets should be sold at a price equal to their real market value. The term for the sale of assets should not exceed three months.

Current assets include receivables of a short-term nature. It is important to note that in the case of these assets, it is very important to take into account the volume of promised payments. In addition, the term of the loan should not exceed one year. This condition for granting an installment plan or a loan is a mandatory criterion for reckoning accounts receivable to the working capital category.

These assets require reimbursement when consumed, and their use is expected to generate economic benefits in the future.

One of the sources of enterprise resources is raw materials and consumables. Such materials are used in every production cycle. This category includes fuels and lubricants, spare parts and consumables, packaging and other containers. It is important to note that unfinished goods and semi-finished products are also classified as working capital. Many enterprises use technologies that contain at their core a certain stage when an unfinished product is moved to a warehouse. Unfinished items may not be offered for sale or used as raw materials. It is this factor that forces these funds to be indicated in a separate line of the balance sheet.

All of the above sources are the company's own resources. In addition to them, financial loans or investments received from third-party investors can be used as working capital. It is important to note that the use of own sources can significantly reduce the degree of risk in comparison with the use of third-party resources.

Are current assets and current assets the same thing? This question is asked by many newcomers to the business. "Current assets" is a term often used in accounting, and "current assets" - in the field of economic research. Despite some specific differences between these concepts, they reflect those property values ​​of the company that can be turned into financial resources.

Components of assets on the balance sheet

The balance sheet contains important information about the value of the property values ​​of a particular company. This information is generated based on financial statements, evaluation activities and other documents. talking plain language, the balance sheet asset is a kind of list listing the company's material assets that are at its own disposal.

current assets

The article of working capital of each enterprise includes six components. The first component is accounts receivable, which has an urgent nature. The next part of this group are financial investments made by the company itself. The validity period of these investments should not exceed one year. In addition to receivables and financial investments, “incoming” VAT is included in the working capital item, which has not yet been adopted by the regulatory authorities.

One of the important parts of current assets are financial resources. This part of this group includes several items:

1. Cash held at the cash desk of a particular institution.
2. Money placed on the current account of a banking organization.
3. Funds credited to the firm's foreign currency account.

The fifth component of working capital are the stocks of the enterprise. This category includes raw materials and inventory, products to be sold, unfinished goods, semi-finished products and those valuables that will be used for resale. The last part of working capital is other assets that can be converted into cash.

Current assets - means material assets directly used for the implementation production process

Other current assets

Other current assets include debit balance, that is, the amount of VAT accrued at the time of shipment of marketable products. This article also includes value added tax received upon making an advance payment. This group of funds includes manufacturing defects, shortages and financial losses. The complete list of resources belonging to this group is as follows:

1. Damaged property not written off from the company's accounts.
2. Costs associated with the fulfillment of unfinished orders.
3. VAT on shipped products, advance payments, as well as excises, which will be refunded in the next reporting period.

In addition to the resources listed above, this group includes securities and funds invested in the authorized capital of third-party companies. The main criterion for selecting resources in this group is the period of their implementation. According to the established rules, other working capital is recorded in the second section of the balance sheet, in line number 1260.

Low liquid current assets

Before discussing the question of what belongs to the category of assets with low liquidity, it is necessary to consider the meaning of the term "liquidity". This tool economic analysis displays the speed of transformation of property values ​​into financial resources. talking in simple words, this indicator demonstrates the speed of asset realization. According to experts, the liquidity of assets is of paramount importance in terms of obtaining revenue. In order to gain complete control over the financial condition of the company, you need to develop a strategy that allows you to quickly identify the most liquid assets that can be used to overcome the crisis.

Also, experts note that the level of risk of an entrepreneur is inversely proportional to the liquidity of the asset. Thus, financial resources and liabilities with a short-term nature are the most high level liquidity and the minimum degree of risk for the entrepreneur. Inventories and finished goods also have high liquidity. The only nuance associated with these funds is the need for a quick sale. The risk level of these assets is at a low level.

Semi-finished and unfinished products have medium liquidity and medium risk. Low liquidity assets include unused capacity, overdue receivables, and goods in progress (given high volume). It is important to note that this group has the highest level of risk.

As a rule, those assets are included in the category under consideration, where the turnover rate in monetary terms is more than twelve months. A striking example of such assets is commercial products stored in the company's warehouse for a long time. This category also includes issued loans, the repayment period of which is more than one year. Based on the foregoing, it can be concluded that working capital having a high degree risks are included in the group of low-liquid resources.

Analysis of current assets displayed in the balance sheet allows you to identify the availability of the production cycle with the necessary resources

How to calculate the liquidity ratio of available resources

To determine the amount of time required for a full turn own funds firms, the formula for calculating the current liquidity ratio is used. This economic tool visually reflects the financial condition of the company and the ability to repay current debt using its own funds. From the foregoing, we can conclude that the identification of a high coefficient makes it possible to determine the effectiveness of decisions made by the management.

When making calculations, the formula is used: "Current assets / debt obligations with a short-term nature." All data necessary for the calculation can be found both in financial documents and in the balance sheet. Considering the methodology for calculating the amount of liquidity of working capital, it is necessary to mention the procedure for determining net assets. Pure OA is the sum of financial resources belonging to the company and long-term loans less the total amount of non-current assets.

Conclusions (+ video)

Current assets on the balance sheet are resources that can be used by the company to improve financial condition. Timely and competent use of such resources allows to overcome economic crisis with minimal negative consequences. Each company must independently determine the size of the working capital, based on their needs, production capacity and business size. It is important to pay attention to the fact that the lack of assets in circulation can cause a stop in the production process and an increase in current debt. An increased number of such assets indicates an incorrect distribution of resources and an illiterately chosen business development strategy.

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For the production of products, only the means of labor (machines, devices, equipment) are not enough. In addition to them and the labor of the employees of the enterprise, the source material, raw materials, blanks are also needed - that from which the finished product is created in the production process - objects of labor. And in order to be able to buy these items of labor from suppliers and pay for the labor of workers, the enterprise needs money. The objects of labor and monetary resources together form current assets of the enterprise. Management, determining the optimal size, writing off working capital for production - all these are important and pressing issues for any enterprise. You will find answers to them and indicators of working capital in this article.

Working capital: concept, composition and role in production

working capital - this is the funds of the enterprise advanced in circulation funds and negotiable production assets .

working capital- This valuation circulation funds and circulating production assets.

The main purpose of working capital is ... make a turn! In the course of such a process, working capital changes its material and material form into a monetary one, and vice versa.

The circulation of working capital of an enterprise: money - goods, goods - money.

For example, an enterprise has some cash that it spends on the purchase of raw materials and materials. This is the first transformation: money (not necessarily cash) was transformed into material objects - stocks (parts, blanks, material, etc.).

The inventory is then processed through the manufacturing process, moving into work in progress (WIP) and eventually becoming finished goods. These are the second and third transformations - stocks have not yet turned into cash for the enterprise, but have already changed their form and role.

And finally, the finished product is sold to the outside (sold to consumers or resellers) and the company receives cash that can be spent again on the purchase of resources to resume the production process. And everything is repeated for the second round. This is the fourth conversion of finished products into cash.

Working capital turnover – the most important indicator. The faster the company's funds are turned over, the smaller the time gap between investments in production and getting a return - revenue (and with it profit).

It is important that the current assets of the enterprise, unlike fixed assets, participate in the production cycle only once and at the same time fully transfer their value to the finished product! This is what is mainly different and working capital.

The composition of working capital includes various groups of objects of labor and cash. On an enlarged basis, they are all divided into two large groups: circulating production assets and circulation funds. More about them below.

Composition of working capital:

1. Revolving production assets - include in their composition:

   a) production (warehouse) stocks- objects of labor that are still awaiting entry into production. Include:
   - raw materials;
   - basic materials;
   - purchased semi-finished products;
   - accessories;
   - auxiliary materials;
   - fuel;
   - container;
   - spare parts;
   - fast-wearing and low-value objects.

   b) stocks in production- objects of labor that have entered production, but have not yet reached the stage of finished products. Stocks in production include the following types working capital:
   - work in progress (WIP) - processed products that have not yet been completed and have not arrived at the warehouse of finished products;
   - Deferred expenses (DPC) - the costs that the company incurs at the moment, but they will be written off to the cost price in the future period (for example, the costs of developing new products, creating prototypes);
   - semi-finished products for own consumption - semi-finished products (for example, spare parts) produced by the enterprise exclusively for internal needs.

2. circulation funds - these are the means of the enterprise associated with the sphere of circulation, that is, with servicing the turnover.

   The circulation funds consist of the following elements:

   a) finished product:
   - finished products in stock;
   - shipped products (goods on the way; products shipped, but not yet paid).

   b) cash and settlements:
   - cash on hand (cash);
   - cash on a current account (or on a deposit);
   - earning assets (funds invested in securities: stocks, bonds, etc.);
   - accounts receivable.

The percentage ratio between individual groups or elements of working capital is working capital structure.

For example, in the manufacturing sector, the share of circulating production assets is 80%, and circulation funds - 20%. And in the structure production stocks in industry, the first place (25%) is occupied by basic materials and raw materials.

The structure of working capital of an enterprise depends on the industry, the specifics of the organization of production (for example, the introduction of the same logistics concepts greatly changes the structure of working capital), supply and marketing conditions, and many other factors.

Sources of formation of working capital of the enterprise

All sources of working capital of the enterprise can be divided into three large groups:

1. - their size is set by the company itself. This minimum size stocks and cash, sufficient for the normal functioning of production and sales, timely settlements with counterparties.

   Own sources of working capital formation:
   - authorized capital;
   - Extra capital;
   - Reserve capital;
   - accumulation funds;
   - reserve funds;
   - depreciation deductions;
   - retained earnings;
   - other.

   An important indicator here is own working capital or, in other words, the working capital of the enterprise.

   Own working capital (working capital) is the amount by which the company's current assets exceed its short-term liabilities.

2. Borrowed working capital– cover the temporary additional need for working capital.

   As a rule, the borrowed source of working capital here are short-term bank loans and loans.

3. Attracted working capital- they do not belong to the enterprise, they are received from outside, but are temporarily used in circulation.

   Attracted sources of working capital: accounts payable enterprises to suppliers, wage arrears to employees, etc.

Determining the needs of the enterprise in its own working capital is carried out by him in the process of rationing.

In doing so, it calculates working capital ratio according to one of the special methods (direct counting method, analytical method, coefficient method).

This is how the rational volume of working capital used in the sphere of production and the sphere of circulation is determined.

Methods for writing off working capital to production

To write off the working capital of the enterprise in production can be in various ways, each of which has its own advantages and disadvantages. Basic Methods :

1. FIFO Method(from the English “First In First Out” - “first in, first out”) - stocks are written off to production at the price of those stocks that arrived at the warehouse first. At the same time, within the framework of the FIFO method, it does not matter how much the working capital written off to production actually cost.
2. LIFO Method(from the English “Last In First Out” - “last in, first out”) - stocks are written off to production at the price of those stocks that arrived at the warehouse last. With the LIFO method, the cost of the written-off inventory is also not important, since they will be taken into account at the price of the last ones received at the warehouse.
3. At the cost of each unit- that is, each unit of working capital is written off to production at its cost (so to speak, "by the piece").

   An example of an inventory write-off using this method: accounting for jewelry, precious metals, etc.

4. By average cost- the average cost is calculated for each type of inventory and the inventory is written off to production according to it.

   At Russian enterprises, this is perhaps the most common practice.

The optimal amount of working capital

One of the most important questions is the definition the optimal amount of working capital, such as inventory levels. To find the optimal working capital of the enterprise, special methods are used (ABC analysis, Wilson model, etc.). The solution to this problem is the theory of inventory management and logistics (for example, the concept of "Just-in-time" seeks to minimize inventory to almost zero).

The optimal amount of working capital- this is their level at which, on the one hand, an uninterrupted production process and its implementation are ensured, and on the other hand, additional and unjustified costs do not arise.

At the same time, both large and small working capital of the organization (stocks) have their pros and cons.

Large amount of working capital (pluses and minuses):

• ensuring an uninterrupted production process;
• Availability safety stock in case of supply disruptions;
• purchasing stocks in large quantities allows you to get discounts from suppliers and save on transportation costs;
• the opportunity to win when prices rise due to the advance purchase of resources at a lower price;
• large amounts of money allow you to pay suppliers in a timely manner, pay taxes, etc.

• large stocks - a high risk of spoilage;
• the amount of property tax increases;
• the costs of maintaining stocks are growing (additional storage space, personnel);
• immobilization of working capital (in fact, they are “frozen, withdrawn from circulation, do not work).

Small amount of working capital (pluses and minuses):

• minimal risk of damage to stocks;
• costs for the maintenance of stocks are reduced (less storage space, personnel and equipment are required);
• acceleration of the turnover of working capital.

• the risk of production failures due to untimely deliveries (because then the warehouse simply does not have the required amount of stock);
• an increase in the risks of untimely settlements with suppliers, creditors, and the tax budget.

Turnover ratio and working capital turnover

The efficiency of the use of working capital and their condition can be analyzed using indicators such as the turnover ratio (current assets ratio) and turnover.

Working capital turnover ratio(K vol.) - a value showing how many full turnovers were made by working capital for the analyzed period of time.

The turnover ratio of working capital is calculated (a tautology is obtained, but what can be done) as the ratio of the volume of products sold to the average value of the company's working capital for the year. That is, this is the value of sales per 1 ruble of working capital:

where: K about. - turnover ratio of working capital;

RP - sold products for the year (annual revenue from sales), rubles;

OBS avg. - the average annual balance of working capital (according to the balance sheet), rub.

turnover(T vol.) - the duration of one complete revolution in days.

The turnover of working capital is calculated according to the following formula:

where: T about. - turnover of working capital, days;

T p. - the duration of the analyzed period, days;

K about. - turnover ratio of working capital.

Turnover acceleration allows you to engage additional funds, increase the return on their use, reduce the period between investing and making a profit.

Turnover slowdown- a sign of "freezing" of resources, their "stagnation" in stocks, work in progress, finished products. Accompanied by the diversion of funds from circulation.

Let's summarize. Working capital is the most important component of economic activity, without which it is simply not possible to manufacture products and sell goods to consumers. This is a kind of "blood" in the "organism" of the enterprise, feeding its "organs" (workshops, warehouses, services). And the efficiency of working capital, the efficiency of their use, has a huge impact on the economic performance of the company.

Galyautdinov R.R.

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current assets- assets that are intended for use within a short period of time (up to 12 months).

Current assets include: Stocks, Accounts receivable, Financial investments, Cash and cash equivalents, etc.

Current assets are also called "current assets".

The term "current assets" in English is current assets.

A comment

Dzhaarbekov Stanislav, tax consultant, lawyer. Website: Taxd.ru

Financial analysis of current assets

Own working capital

For financial analysis use the indicator Own working capital.

— the difference between current assets of the organization and its short-term liabilities.

The SOS indicator is used to assess the ability of an enterprise to pay off short-term obligations by realizing all its current assets. The more own working capital of the organization, the more financially stable it is. A negative SOS indicates potential financial risks for the organization.

Current liquidity ratio

- the percentage of short-term assets of the organization to its short-term liabilities.

The current liquidity ratio characterizes the extent to which current assets cover short-term liabilities. The recommended value for this ratio is 200%. In this case, the company can cover all of its short-term liabilities and will have liquid funds to carry out its activities.

Current assets in the legislation

Article 656 Civil Code Russia, which governs the Enterprise Lease Agreement, specifies the categories of property related to working capital:

“Under a lease agreement for an enterprise as a whole as a property complex used for entrepreneurial activities, the lessor undertakes to provide the lessee for a fee for temporary possession and use land, buildings, structures, equipment and other fixed assets that are part of the enterprise, to transfer in the manner, on the terms and within the limits determined by the contract, stocks of raw materials, fuel, materials and other current assets, the rights to use land, water bodies and other natural resources, buildings, structures and equipment, other property rights of the lessor associated with the enterprise, the rights to designations that individualize the activities of the enterprise, and other exclusive rights, as well as to assign to him the rights of claim and transfer to him the debts related to the enterprise.

Non-current assets include:

1) Intangible assets

— exclusive rights to the Objects taken into account in accounting intellectual property(computer programs, databases, trademarks, etc.).

2) Research and development results

- the organization's costs for research, development and technological work, which gave a positive result, but are not related to intangible assets.

3) Intangible Exploration Assets

- used in the process of prospecting, evaluation of mineral deposits and exploration of minerals, search costs that do not have a material form.

4) Tangible exploration assets

- used in the process of prospecting, evaluation of mineral deposits and exploration of minerals, search costs that have a material form:

a) structures (piping system, etc.);

b) equipment (specialized drilling rigs, pumping units, reservoirs, etc.);

c) vehicles.

5) Fixed assets

- means of labor for long-term use (over 12 months). Fixed assets include buildings, machinery and equipment, structures and transmission devices, vehicles.

6) Profitable investments in material values

- fixed assets intended exclusively for provision by the organization for a fee for temporary possession and use or for temporary use in order to generate income.

- assets that can be quickly and cost-effectively converted into cash.

A significant amount of financial resources invested V current assets, the variety of their types, the determining role of these assets in accelerating the turnover of capital and ensuring the solvency of the company determine the importance and complexity of the current asset management policy.

Current assets of the company- a set of funds advanced to create working capital and circulation funds, ensuring their continuous turnover. In practice, the composition and structure of current assets are distinguished.

Composition of current assets - a set of elements that form them (Fig. 6.1).

Current assets in the field of production (current production assets) include objects of labor (raw materials, basic materials and semi-finished products, auxiliary materials, fuel, containers, spare parts), work in progress and deferred expenses. The main purpose of current assets in the field of production is to ensure a continuous and rhythmic production process.

Current assets in the sphere of circulation (circulation funds) - the company's funds invested in stocks of finished products; goods shipped but not paid for; funds in settlements and cash on hand and in accounts. Their main purpose is to provide resources for the circulation process

Current assets structure - the share of each element of current assets in their total volume. It depends on a number of factors:

Production - the composition and structure of production costs, its type, the nature of products, the duration of the technological process, etc.;

Features of the procurement of material resources - frequency, regularity, completeness of supplies, mode of transport, specific gravity components in the volume of consumption, etc.;

Rice. 6.1. The composition of the company's current assets

Forms of settlements with suppliers and buyers of goods;

Demand for the company's products, which affects the volume of finished products in stock and receivables.

During the formation of market relations, the structure of current assets of Russian companies in the real sector of the economy deteriorated significantly (Table 6.1).

The share of receivables increased (especially overdue and doubtful debts). The share of the production component - stocks of raw materials, materials, work in progress, finished products - has sharply decreased.

Due to the large amount of receivables from buyers, a significant part of the advanced working capital is returned to the company with a big delay or is not returned at all. It should be noted that in recent years there has been a positive trend towards a decrease in the share of receivables.

In the practice of planning, accounting and analysis, current assets of companies are grouped according to the following main features:

By the nature of the sources of formation;

By type;

Depending on the functional role in the production process;

Depending on the practice of control, planning and management;

According to the period of operation;

In terms of liquidity.

According to the nature of the sources formations allocate gross, net and own current assets.

Gross current assets (or current assets in general) characterize their total volume formed at the expense of both own and borrowed capital.

Net current assets (or net working capital) characterize that part of their volume, which is formed at the expense of own and long-term borrowed capital.

The amount of net current assets of the company (OA H) is calculated using the following formula:

OA Ch= OA V - F ok,(6.1)

Where OA in - the amount of gross current assets of the company; F ok - short-term current financial obligations of the company.

This indicator characterizes the value of the need for own working capital or, more precisely, the need for financing working capital, associated with the excess of current assets over short-term liabilities. For the normal provision of economic activity with current assets, the value of net current assets is set within "/ 3 of the value of equity.

Own current assets characterize that part of them, which is formed at the expense of the company's own capital.

The amount of own current assets of the company (OA C) calculated by the formula:

OA C \u003d OA B - K ZD- f ok,(6.2)

Where K ZD long-term borrowed capital invested in current assets.

Note that long-term borrowed capital in relation to Russian companies is rarely used as a source of financing current assets. And therefore, the amounts of own and net current assets most often coincide.

According to the types of current assets, there are:

a) stocks of raw materials, materials and other similar valuables;

b) costs in work in progress;

c) stocks of finished goods and goods for resale;

d) goods shipped;

e) deferred expenses;

f) accounts receivable;

g) short-term financial investments;

h) money;

i) other types of current assets.

Depending on the functional role in the production process allocate:

a) current assets serving the production cycle of the company (stocks of raw materials, materials and semi-finished products; the volume of work in progress, stocks of finished products);

b) current assets serving the financial (cash) cycle of the company (accounts receivable, short-term financial investments, cash);

Depending on the practice of control, planning and management distinguish:

Normalized working capital, making it possible to calculate the economically justified need for the relevant types of working capital;

♦ non-standardized working capital, which is an element of circulation funds.

Differentiation of current assets on this basis is presented in table. 6.2.

Table 6.2 Differentiation of assets depending on control practices

The organization has at its disposal numerous and diverse types of property that provide and form the basis of its financial and economic activities.

Organization property (assets) According to the composition and nature of use, they are divided into non-current and current assets.

Fixed assets represent the property values ​​of the enterprise, which repeatedly participate in the process of economic activity as a means of labor and transfer the used value to the manufactured products in parts. Non-current assets - this is that part of the enterprise's property that functions for a long time (the operating cycle or useful life lasts more than one year) in unchanged natural form and is reflected in section 1 of the asset balance sheet organizations.

Non-current assets include:

• - intangible assets;
• – results of research and development;
• - Intangible search assets;
• – material prospecting assets;
• - fixed assets;
• - profitable investments in material values;
• - financial investments;
• - Deferred tax assets;
• - Other noncurrent assets.

Intangible assets - these are values ​​belonging to enterprises and organizations that are not physical, material objects, embodying value in their physical essence, but having a cost, monetary value due to the possibility of using and receiving income from them.

Intangible assets may include, in particular:

• – works of science, literature and art;
• - inventions;
• – useful models;
• - selection achievements;
• – production secrets (know-how);
• - trademarks and service marks.

As part of intangible assets business reputation that has arisen in connection with the acquisition of an enterprise as a property complex (in whole or in part) is also taken into account.

Intangible assets are not: expenses related to education legal entity(organizational expenses); intellectual and business qualities of the organization's personnel, their qualifications and ability to work.

To accept an object for accounting as an intangible asset, the following conditions must be met at a time:

• a) the object is capable of bringing economic benefits to the organization in the future, in particular, the object is intended for use in the production of products, in the performance of work or the provision of services, for the management needs of the organization or for use in activities aimed at achieving the goals of creating commercial organization;
• b) the organization has the right to receive economic benefits that this object is able to bring in the future (including the organization has properly executed documents confirming the existence of the asset itself and the right of this organization to the result of intellectual activity or means of individualization - patents, certificates, other documents of protection, an agreement on the alienation of the exclusive right to the result of intellectual activity or to a means of individualization, documents confirming the transfer of exclusive right without a contract, etc.), and there are also restrictions on the access of other persons to such economic benefits;
• c) the possibility of separating or separating (identifying) an object from other assets;
• d) the object is intended to be used for a long time, r.e. useful life of more than 12 months. or the normal operating cycle, if it exceeds 12 months;
• e) the organization does not intend to sell the object within 12 months. or the normal operating cycle, if it exceeds 12 months;
• f) the actual (initial) cost of the object can be reliably determined;
• g) the object has no material form.

Like fixed assets, intangible assets are used for a long period of time (more than one year) and are gradually depreciated, i.e. transfer their value to the cost of the newly created finished product in parts.

Those types of intangible assets that do not lose their value in the process of their production consumption (trademarks, trademarks, perpetual rights to use land plots, apartments) are usually not depreciated.

Research and development results - this is information on the costs of completed research, development and technological work (R&D), accounted for on account 04 "Intangible assets" separately (Instructions for the application of the Chart of Accounts, clause 16 of the Accounting Regulations "Accounting for the costs of research, development and technological work" PBU 17/02, approved by order of the Ministry of Finance of Russia dated November 19, 2002. No. 115n (hereinafter referred to as PBU 17/02)).

As part of R&D expenses, reflected separately on account 04, the expenses of the organization for the work performed independently or with the involvement of third-party performers, related to the implementation of scientific (research), scientific and technical activities and experimental developments, are taken into account federal law dated August 23, 1996 No. 127-FZ "On the science and state scientific and technical policy".

At the same time, the following works are taken into account (clauses 2, 5 PBU 17/02, Instructions for the use of the Chart of Accounts):

• - for which the results are obtained, subject to legal protection, but not formalized in the manner prescribed by law;
• – results were obtained that are not subject to legal protection in accordance with the norms of the current legislation.

R&D expenses may include (clause 9 PBU 17/02):

• – cost of inventories and services third parties and persons used in the performance of these works;
• - the cost of wages and other payments to employees directly employed in the performance of the specified work on employment contract;
• – deductions for social needs;
• - the cost of special equipment and special equipment intended for use as objects of testing and research;
• - depreciation of fixed assets and intangible assets used in the performance of these works;
• – costs for the maintenance and operation of research equipment, installations and structures, other fixed assets and other property;
• – general running costs, if they are directly related to the performance of these works;
• - other costs directly related to the implementation of research, development and technological work, including the costs of testing.

TO intangible exploration assets relate:

• - licenses that give the right to perform work on the search, evaluation and (or) exploration of minerals;
• – results of topographic, geological and geophysical surveys;
• – results of exploratory drilling;
• – results of sampling;
• – geological information about the subsoil;
• – assessment of the commercial feasibility of production.

TO tangible exploration assets relate:

• - equipment used in the process of prospecting, evaluation and exploration of minerals (specialized drilling rigs, vehicles, etc.);
• - the pipeline system and pumping units used in the process of prospecting, evaluation and exploration of minerals;
• - reservoirs.

Tangible and intangible prospecting assets are recorded on separate sub-accounts to the account of investments in non-current assets. Unit them accounting is determined by the organization in relation to the accounting rules for fixed assets and intangible assets, respectively.

fixed assets constitute assets used in the production process, in the performance of work or the provision of services for a long time, i.e. useful life of more than 12 months. or normal operating cycle, if it exceeds 12 months, capable of bringing economic benefits (income) to the organization in the future.

Fixed assets transfer their value to a newly created product in parts by accruing depreciation over their useful life.

Depreciation of fixed assets is charged regardless of the results of the economic activity of the organization in the reporting period. Fixed assets are reflected in the balance sheet at their residual value, i.е. at actual acquisition costs less accumulated depreciation.

By purpose, fixed assets, depending on their participation in economic turnover, are divided into:

• - on production fixed assets directly involved in the production process (industrial buildings, structures, working machines, transport);
• - non-productive fixed assets that do not take a direct part in production, but actively influence the production process (housing stock, buildings and equipment of clubs, libraries, nurseries, kindergartens, hospitals, etc.).

Fixed assets include: buildings, structures, working and power machines and equipment, measuring and control instruments and devices, computers, vehicles, tools, production and household equipment and supplies, working, productive and breeding livestock, perennial plantations, on-farm roads and other relevant objects.

Fixed assets also include: capital investments for radical improvement of land (drainage, irrigation and other reclamation works); capital investments in leased fixed assets; land plots, nature management objects (water, subsoil and other natural resources).

Fixed assets intended exclusively to be provided by an organization for a fee for temporary possession and use or for temporary use in order to generate income are reflected in accounting and financial statements as part of profitable investments in material assets.

Objects of fixed assets worth no more than 40,000 rubles. per unit can be reflected in accounting and financial statements as part of inventories. In order to ensure the safety of these objects in production or during operation, the organization must organize proper control over their movement.

They do not belong to fixed assets and are accounted as working capital of labor instruments with a useful life of less than one year, regardless of their cost per unit.

Profitable investments in material values – investments of the organization in a part of property, buildings, premises, equipment and other valuables that have a material form, provided by the organization for a fee for temporary use (temporary possession and use) in order to generate income.

Material assets acquired (received) by the organization for provision for payment for temporary use (temporary possession and use) are accepted for accounting at their original cost based on the actual costs incurred for their acquisition, including delivery, installation and installation costs.

Financial investments (long-term) - this is the organization's investment in government securities, bonds and other securities of other organizations, in the authorized (share) capital of other organizations, as well as loans granted to other organizations.

Financial investments include:

• state and municipal securities;
• securities of other organizations, including debt securities, in which the date and cost of redemption is determined (bonds, promissory notes);
• contributions to the authorized (share) capital of other organizations (including subsidiaries and affiliates);
• loans granted to other organizations;
• deposits in credit institutions;
• receivables acquired on the basis of assignment of the right to claim;
• other similar investments.

Financial investments are taken into account in the amount of actual costs for the investor. For debt securities, the difference between the sum of actual acquisition costs and face value during the period of their circulation, evenly, as the income due on them is accrued, to be attributed to the financial results of a commercial organization or an increase in expenses for a non-profit organization.

Organizations acting as professional participants securities market, may revalue investments in securities acquired for the purpose of obtaining income from their sale, as the quotation changes by stock exchange.

Objects of financial investments (except loans) that have not been paid in full are shown in the assets of the balance sheet in full amount the actual costs of their acquisition under the contract with the assignment of the outstanding amount under the item of creditors in the liability of the balance sheet in cases where the rights to the object were transferred to the investor. In other cases, the amounts paid on account of the objects of financial investments to be acquired are shown in the assets of the balance sheet as debtors.

Investments of the organization in shares of other organizations listed on the stock exchange, the quotation of which is regularly published, when compiling the balance sheet, are reflected at the end of the reporting year at market value, if the latter is lower than the value accepted for accounting. At the end of the reporting year, a provision for the depreciation of investments in securities is formed for the specified difference at the expense of financial results for a commercial organization or an increase in expenses for a non-profit organization.

The financial investments of the organization do not include:

• treasury shares joint stock company from shareholders for subsequent resale or cancellation;
• promissory notes issued by the organization-issuer of the organization-seller in settlements for goods sold, products, work performed, services rendered;
• investments of the organization in real estate and other property having a tangible form, provided by the organization for a fee for temporary use (temporary possession and use) in order to generate income;
• precious metals, jewelry, works of art and other similar valuables not acquired for common species activities.

Deferred tax assets - this is a part of deferred income tax, which should lead to a decrease in tax payable to the budget in the next reporting period or in subsequent reporting periods. Deferred income tax is an amount that affects the amount of income tax payable to the budget in the next reporting period or in subsequent reporting periods. A deferred tax asset is formed when deductible temporary differences arise (expenses in accounting are greater than those in tax accounting).

Part other non-current assets includes:

• equipment that requires installation, which is understood as equipment that is put into operation only after assembling its parts and attaching it to the foundation or supports, to the floor, interfloor ceilings and other load-bearing structures of buildings and structures, as well as sets of spare parts for such equipment;
• investments in non-current assets of the organization recorded on the relevant sub-accounts of account 08 "Investments in non-current assets", in particular, the organization's costs in objects that will subsequently be taken into account as objects of intangible assets or fixed assets, as well as costs associated with the implementation of unfinished R&D;
• expenses related to future reporting periods and accounted for on account 97 "Expenses of future periods" (for example, expenses for the development natural resources, a one-time (lump-sum) payment for the right to use the results of intellectual activity and means of individualization);
• the cost of perennial plantations that have not reached the operational age;
• the amount of the listed advances and advance payment for works, services related to the construction of fixed assets.

current assets- these are cash and other assets that will be turned into money, sold or spent on the production of goods, performance of work, provision of services or used for the management needs of the organization, are completely consumed in one operating cycle and transfer their entire value to the products produced. Current assets are reflected in section 2 of the asset of the balance sheet of the organization.

Current assets are divided as follows:

• - reserves and costs;
• - value added tax on acquired material assets;
• - accounts receivable;
• – financial investments (short-term);
• – cash and cash equivalents;
• - Other current assets.

Current assets are divided into two large groups - assets in the sphere of production and assets in the sphere of circulation. Each of them has its own characteristics.

Current assets in the sphere of production consists of inventories and production costs.

Productive reserves include the following.

• 1. Materials:
  • – raw materials and materials;
  • – purchased semi-finished products and components;
  • – structures and details;
  • - fuel;
  • - containers and packaging materials;
  • - spare parts;
  • - Other materials;
  • - materials transferred for processing to the side;
  • – Construction Materials;
  • - Inventory and household supplies.
• 2. Animals for growing and fattening.

Production costs include the following.

• 1. Main production (work in progress is the remainder of the objects of labor, the processing of which is not completed).
• 2. Semi-finished products own production intended for further processing.
• 3. Auxiliary industries (repair, transport, energy and other workshops, sections).
• 4. General production (general shop) and general business (general factory, general company) expenses.

Current assets in the sphere of circulation also have a complex structure. This is their composition.

• 1. Finished products in the warehouse and shipped from the warehouse, but not yet owned by the buyer (goods shipped) - the end result of the production cycle, assets completed by processing (picking) and intended for sale.
• 2. Goods - a part of inventories purchased from other legal entities or individuals and intended for sale.
• 3. Deferred expenses are expenses incurred in the current reporting period, but related to the next period (subscription to specialized literature, costs associated with training and organizational expenses).
• 4. Cash and cash equivalents is the amount of cash and monetary documents at the cash desk of the organization, as well as funds on current accounts, on foreign currency accounts and on special accounts in banks.
• 5. Short-term financial investments - loans granted to other organizations for up to 12 months, securities (shares, bonds), promissory notes and other securities with a maturity of up to 12 months.
• 6. Accounts receivable is the debt of buyers, customers, borrowers, accountable persons, which the organization plans to receive within a certain period of time. Accounts receivable also include the amount of advances given to suppliers and contractors.

Accounts receivable can be called "funds in settlements with debtors", i.e. in essence, these are the funds of our organization, which are temporarily held by other organizations and individuals. After a certain period, they are subject to return to our company. Debtors are legal and individuals who, due to various circumstances, became our debtors. The funds of our organization are temporarily with them. Debtors can be:

• - buyers and customers who have not yet paid for the products they received from us, the work and services we performed for them;
• – suppliers and contractors who owe us for advances given to them;
• – accountable persons, i.e. those employees of the organization who received money in the cash desk in the form of an advance against a report for various needs (for business trips, business and other purposes);
• - budgetary and other organizations according to the amounts of our prepayments and overpayments;
• - employees of our organization on loans received from the organization, on compensation for material damage caused by them to the organization;
• – founders according to the contributions they must make to authorized capital organizations;
• – our subsidiaries settling with us and other debtors.

Value added tax on acquired valuables

When purchasing fixed assets, intangible assets and other property, as well as when receiving works and services, the organization charges value added tax on the value of property, works, services. The organization must transfer this amount to suppliers and contractors or make tax deduction for VAT from debt to the budget. Up to this point, the amount of VAT charged is the debt of the organization, i.e. accounts receivable.

Other current assets

Other current assets include:

• - the cost of missing or damaged material assets, in respect of which a decision has not been made to write them off as part of production costs (sales expenses) or to the guilty persons;
• - VAT amounts calculated from advance payments and advance payment (partial payment), reflected separately in the debit of accounts 62 or 76;
• - amounts of excises subject to subsequent deductions;
• - the amount of overpaid (collected) taxes and fees, penalties and fines, contributions to compulsory insurance in respect of which no decision on offset (refund from the budget) has been made;
• - VAT amounts accrued upon shipment of goods (products, other valuables), the proceeds from the sale of which for a certain time cannot be recognized in accounting, accounted by the organization separately on accounts 76 or 45;
• – own shares (shares) redeemed from shareholders (participants) for the purpose of resale.