Inventory of fixed assets: preparation, conducting, accounting
Fixed assets are necessary in the enterprise of any. They constitute a large part of the property, allowing to produce products, carry out production plans andto carry out profitable activities. These are buildings, constructions, machines, mechanisms, transport and equipment, i.e. all the objects used (more than a year) in the economic process. Taking into account the need to ensure control over the safety of these objects, the current legislation has approved the methodology and developed the main stages of the inventory.
Purpose of inventory
Inventory of fixed assets aims at monitoring the safety of objects, identifying losses, shortages or unrecorded units.All types of property are subject to it, including those not owned by the company, but recorded in the financial statements. For example: objects accepted for storage under the contract, available leased funds, property entered into the installation, and also not accounted for various reasons.
When do inventory
Regulates the inventory and determines its timing manager. However, the inventory is necessarily carried out:
- at the end of the fiscal year;
- when changing the staff responsible for the safety of facilities;
- in identifying the facts of theft of fixed assets;
—When force majeure occurs, such as a natural disaster, resulting in the partial or complete destruction of property.
Often an inventory of fixed assets is needed when introducing new accounting and business management programs.
Powers and composition of the inventory commission
Commission is appointed by order of the head of the company. Inventory takes place, as a rule, under the chairmanship of the chief engineer or deputy chief. The commission includes employees of the accounting and technical department - engineers, technologists, production specialists. In the order, the head determines the timing of the inventory, the date of its beginning and end. If necessary, the staff of the internal audit service (if available) or a representative of an independent auditfirms. For the participation of the external auditor in the inventorya service contract must be drawn up and power of attorney presented. It should be remembered that the absence of any member of the commission casts doubt on the authenticity of the results of the inventory. They may be invalidated.
Making inventory records
Records of the actual availability of property are recorded in the inventory of a unified form approved by the State Statistics Committee of Russia. Today, the current legislation does not require registration of the results of the inventory on such forms, companies can develop their forms containing the necessary details and approved by the head of the company. However, the use of standardized forms by the enterprise is most appropriate: they take into account all the necessary fields and details.
Preparing for inventory
Inventory is preceded by receipt by the commission of a receipt from the person responsible for the safety of the property, which confirms the registration of operations on the OS movement in accordance with the law. All unified forms of inventory records, including the INV-1 form, already contain the text of a receipt.On all recent accounting documents that have not been submitted for accounting, the chairman of the commission makes a note “Before revision” with the date and signature.
Actually, the inventory of fixed assets consists in inspecting the property objects presented, recording them in the inventory: name and purpose, inventory and factory number, year of manufacture and number of objects. In the column “actual availability” all the objects that are available on thisproduction site, regardless of whether they are listed in accounting. When establishing the objects of the asset, data on which are not available in the accounting records, they should be recorded in the inventory and subsequently determine the market value of the object to be entered into the fixed assets of the company. Inventory of fixed assets should be carried out with the registration of a separate inventory for each production site in the context of the responsibilities of accountable persons. Separately compiled inventory on the objects of the OS:
• not suitable for further operation with reasons;
• those who are on repository or in rent with indication of the grounds-agreements on storage or use of the leased property and appendices to it.
Inventory lists are issued in 2 copies. The results of the inventory are confirmed by the signatures of the commission members and the accountable persons. The first copy is transferred to the accounting department for further processing, drawing up a collation statement and carrying out accounting operations. The second copy of the inventory remains with the reporting person. If there are leased or stored objects, a third copy of the inventory is drawn up, which is signed and sent to the lessor or depositor.
Accounting for inventory results
If differences occur in the actual availability of assets with accounting records, a comparison statement of the INV-18 form is drawn up, where positions with identified discrepancies are identified and shortages and surpluses of assets are identified in terms of quantity and value.
To summarize the discrepancies in groups of shortages and surpluses identified during the inventory, use the statement of accounting results, identified by the inventory (form number INV-26). It grouped information on discrepancies of actual and accounting balances and, guided by the policy of the company, reflect the results in accounting.
The reflection of the results of the inventory in accounting
When identifying unaccounted assets, it is necessary to capitalize them at the original cost determined by current market prices, increasing this amount by other income of the company. Tax accounting cost of surplus property, established in the inventory process, recognizes in the composition of non-operating income. When establishing the shortage of an asset, a materially responsible person explains this fact in writing. The head of the organization, based on the explanations provided, decides on the write-off of the missing object and the allocation of the amount of damage:
• to recover when identifying the perpetrator;
• losses of the enterprise if it is impossible to establish the culprit (for example, in case of theft) with documentary evidence of this fact. They can serve the decision of the investigative or judicial authorities.
If it is impossible to identify the perpetrators, the damage from writing off the deficiencies of the OS in accounting is taken into account as part of other expenses. Tax accounting recognizes their non-operating expenses, subject to confirmation of theft.
When all documents are completed and inventory of fixed assets is completed,the postings of the above operations in accounting are reflected as follows:
Dt 08 Kt 91.1 increase in the amount of unaccounted assets;
Dt 01 Dt 08 - input the value of unrecorded property into the asset;
Dt 02 Kt 01.2 - write-off of depreciation charged on the missing object;
Dt 94 Kt 01.2 - write off the residual value of the missing object;
Dt 73.2 Kt 94 - the amount of damage is charged to the guilty person;
Dt 50,51,70 Kt 73.2 - the amount of damage was paid to the cash desk, to the company’s account or withheld from the employee’s salary;
Dt 91.2 Kt 94 - damage caused by a shortage in a company was written off, due to the impossibility of identifying the guilty person.
So, the inventory of fixed assets is a procedure that is necessary not only to maintain the safety of the company's assets, but also to get rid of idle facilities that are not involved in the production process and affect the amount of the property tax and the profit level in the company.