Balance - the main type of accounting reports. It shows the state (property and finances) of the organization for a certain period and / or at the current moment. It is divided into two points - liabilities and assets, which are necessarily equal to each other. They, in turn, are divided into sub-items, where the types of asset and liability are displayed, respectively. The structure of the balance sheet is fixed by order of the Ministry of Finance of the Russian Federation of 1999 under number 43n.
| Financial investments include | Does not include financial investments. |
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| State and municipal securities | Own shares repurchased from shareholders |
| Securities of other organizations, incl. bonds, bills | Promissory notes issued by the drawer organization to the seller organization when paying for products, services, work |
| Contributions to the authorized (share) capital of other organizations, incl. subsidiaries and affiliates | Investments in real estate and other property having a tangible form, provided for a fee for temporary use in order to generate income |
| loans granted to other organizations | Precious metals, jewelry, works of art and other similar valuables not acquired for common species activities |
| Deposits in credit institutions | |
| Accounts receivable acquired on the basis of assignment of the right to claim, etc. | |
| As part of financial investments, contributions of an organization that is a partner under a simple partnership agreement are also taken into account. | Intangible assets, such as fixed assets, inventories, and tangible assets are not financial investments. |
Short-term financial investments (KFI) - funds invested for a period not exceeding twelve months from the date of the last report. They are in the "Asset" group, in the 2nd paragraph of the Accounting Balance, code p.1240. It reflects all areas of financial investments: securities (debt), transferred loans (including%%), purchased rights, shares, contributions under partnership agreements, a deposit (divided into rubles and foreign currency).
This does not include loans that are interest-free, as they are not considered an investment. If the deadline for any of the items is not set, but it is planned to make a profit or repay the loan in less than a year, such a situation is reflected in the CIF.
KFV - a method of protection by the organization of free Money from inflation or to obtain additional benefits, in the long term. Since investments of this kind have high liquidity and are part of current assets, they become one step with the means of payment, their duties include ensuring financial obligations owner.
Most often, short-term investments are made in materials or raw materials. The advantage of this type of investment is that such deposits are least of all at risk of being lost because the situation in the economy can be predicted for a period of 12 months. As influencing factors, one can also identify the political situation and the exchange rate of the national currency.
With regard to deposits of securities, here the company takes a conscious risk, since in this case it is best to invest in liquid securities, which can be easily converted into finance at any time. Only a competent specialist can predict this, perhaps even using some analytical programs. Some enterprises specifically turn to such specialists for advice. This item of short-term financial investments can be classified as liquid only if the securities have a minimal risk of falling in price and can be easily sold.
If we talk about loans, then, as a rule, loans issued for short periods are subject to large percentages than long-term (LTF). Such a measure will save the company from non-return of funds.
The company has the right to transfer any cash deposit from long-term to short-term, if its purpose or intention to use it further changes. Such a clause should be provided for in the statutory accounting documents of the company.
Example In February 2010, an organization received a loan from another company for a period of 24 months, respectively, it must repay it in February 2012. In the report for 2010, it will be displayed in the item about VFD. After two years, it can be transferred to the KFV, since the time remaining for its payment is less than a year.
Short-term financial investments are indicated on account 58. This account is provided for bringing together information about investments and their movements within the enterprise. Counts may be opened, suppose 58-1 - “Securities”. Accounting is kept by groups and types of investments of the organization, regardless of the country in which the funds or assets are located.
enterprise assets displayed in lines 1170 and 1240 of the balance sheet. To the question: "What assets are financial investments? We will answer together.
The concept and classification of financial investments disclosed in two main legislative acts: in PBU No. 19/02 (clause 3 of section I) and “Regulations on accounting ...”, approved. by order of the Ministry of Finance of the Russian Federation of July 29, 1998 No. 34n (hereinafter referred to as the provision on BU) (clause 43).
Clause 2 of PBU No. 19/02 establishes the conditions, the simultaneous fulfillment of which makes it possible to classify assets as financial investments. These conditions are:
The following assets are among the objects of financial investments:
In this way, financial investments are assets used by the enterprise to improve the efficiency of its financial activities. Proper management of such assets creates additional income enterprises that have financial activities is not the main one.
There is a property that looks like economic sense for investments, but is not one of them. These types of property include (paragraphs 3-7 p. 3, p. 4 PBU 19/02):
Financial investments classified into:
This classification is not complete, but reflects the most common modern approach to the classification of financial investments that exists in the Russian Federation today.
Evaluation of financial investments when they are accepted for accounting is carried out at their original cost.
Order analytical accounting financial investments the organization establishes itself. The enterprise independently determines the units of their accounting (for securities, for example, the unit of accounting can be pieces or a nominal value).
The breakdown in the analytical accounting of financial investments is made by groups or types in the way that is convenient for the enterprise and as established by the accounting policy. Clause 7 PBU 19/02 indicates that the rules for assessing financial investments in dependent (related) enterprises, the principles for disclosing information about such financial assets in reporting are established separately normative act enterprises.
Here are some postings for accounting for financial investments:
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Reflected debt on payment of acquired financial investments |
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Payment for assets in cash from a current account (in rubles, currency) or from a cash desk |
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Payment for consulting, information services, brokerage services and other related services |
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Implementation of financial investments |
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Reflected debt on investment in the management company of another enterprise |
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Transfer of funds to the authorized capital of another enterprise |
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01, 04, 10, 20, 23, 41, 43 |
Transfer of tangible and intangible resources as a contribution to the authorized capital of another enterprise |
Operations to create reserves for the depreciation of financial investments (for example, securities) require special attention. Because the this species assets tend to change greatly in price and not always upwards, then the creation of reserves is appropriate and correct.
Typical postings when creating such a reserve are as follows:
Line 1170 "Financial investments" is formed by adding the debit balance of the accounts:
The amount of debit balances on the above accounts is reduced by the balance on the loan account. 59 regarding the creation of reserves for long-term investments.
The formation of the cost of short-term financial investments is similar. So, line 1240 is formed as the sum of the debit balance of the account. 58 (for short-term financial investments), reduced by credit balance according to sch. 59 (on reserves for short-term financial investments), debit balance account. 73 (in terms of short-term loans to staff) and c. 55 (in terms of short-term deposits).
Financial investments include such types of investments that financiers call portfolio: these are investments in the capital of other companies with the purchase of securities or debt obligations, or this is the placement of money on deposits for interest income.
Investments have varying degrees of profitability and risk. Bank deposits, the purchase of government bonds or other government securities are characterized by the lowest degree of risk, but also the lowest level of profitability. More risky investments can bring higher returns.
The purpose of investing in financial instruments is the desire of the organization to diversify the income that the company can receive, increase profitability not only through core activities, but also through the effectiveness of financial investments.
The optimal portfolio of financial investments may include highly profitable and risky assets, but it is still better to form its basis from assets with a lower degree of risk. The enterprise chooses the optimal ratio of these components of the investment portfolio for itself, focusing not only on market conditions, but also on the experience of financial managers.
When making financial investments, it must be remembered that most of the instruments financial market has a value that is constantly changing depending on market conditions and market conditions. Therefore, the optimal portfolio of financial investments is such investments for which the expected income significantly covers the cost of acquiring them and the risks of losses. The calculation of the internal rate of return will help determine the optimal parameters of the financial investment portfolio.
In addition to calculating the internal return, we recommend that you calculate the sensitivity of the conjuncture and analyze the distribution of return by probability level. Since the state of financial investments affects liquidity indicators and financial stability enterprises, it is necessary to form a portfolio of financial investments in such a way as to avoid negative changes in these indicators.
To optimize the work with financial investments, the portfolio structure should include both long-term and short-term investments. In addition, the structure of the investment portfolio should be made up of various types of securities.
Financial investments are one of the types of investment. They are a portfolio financial assets, which help the company to increase the profitability of activities and improve the efficiency of the use of free cash. If the definition of financial investments is given on legislative level, then the company determines the rules for investing in financial instruments for itself.
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Financial investments- this is the placement of the organization's free cash in other enterprises through the acquisition of securities, the issuance of long-term loans, and contributions to authorized capital. Distinguish between long-term and short-term investments. Short-term recognize those assets, the circulation or maturity of which does not exceed 12 months, long-term - financial investments with a period of more than one year. When accounting for financial investments, one should be guided by the Regulations on accounting"Accounting for financial investments" PBU 19/02 (approved by Order of the Ministry of Finance of Russia dated December 10, 2002 N 126n; hereinafter - PBU 19/02).
According to paragraph 3 of PBU 19/02, financial investments include:
- securities (state, municipal, other organizations), including debt securities, in which the date and cost of redemption are determined (bonds, bills of exchange);
- contributions to the authorized (share) capital of other organizations (including subsidiaries and affiliates);
- loans granted to other organizations;
- deposits in credit institutions;
- contributions of a partner organization under a simple partnership agreement.
To summarize information on the presence and movement of investments of an organization in government securities, shares, bonds and other securities of other organizations, authorized (reserve) capitals of other organizations, as well as loans provided to other organizations, account 58 "Financial investments" is intended.
To account 58 sub-accounts can be opened:
- "Shares and shares";
- "Debt securities";
- "Granted loans";
- "Contributions under a simple partnership agreement."
Not considered financial investments of the organization:
- own shares repurchased joint stock company from shareholders for subsequent resale or cancellation;
- promissory notes issued by the drawer organization to the seller organization 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 acquired not for the purpose of carrying out normal activities.
It is important to emphasize that the assets having a tangible form such as fixed assets, inventories, and intangible assets are not financial investments, but when they are made as a contribution to authorized capital or under a simple partnership agreement they will be treated as financial investments.
Requirements for assets to be recognized as financial investments:
- the organization must have documents confirming its right to a financial investment (for loans - an agreement; for promissory notes issued third parties, - bill; for shares or bonds - the shares themselves, bonds or a certificate for them, an extract from the register; on deposits in banks - an agreement; for contributions to authorized capital - the charter of the company that received this contribution);
- transition to organization financial risks associated with these investments;
- the ability to generate income in the future (interest, dividends, the difference between the purchase and sale prices).
at initial cost, which consists of the amount of the organization's actual costs for their acquisition, with the exception of value added tax and other refundable taxes (except as provided by law Russian Federation about taxes and fees).
According to paragraph 9 of PBU 19/02, such expenses include:
- amounts paid in accordance with the contract to the seller;
- amounts paid to organizations and other persons for information and consulting services related to the acquisition of these assets (if such information or consulting services are provided, but the organization does not make a decision on such an acquisition, the cost of services is charged to financial results commercial organization as part of other expenses or to increase expenses non-profit organization of the reporting period when it was decided not to purchase financial investments);
- remuneration paid to intermediaries through which investments are acquired;
- other costs directly related to the acquisition of assets as financial investments.
If the additional costs of acquiring securities are insignificant compared to the amount paid to the seller, then they can be accounted for as other expenses in the reporting period when the securities were credited.
Since PBU 19/02 does not contain a definition of the materiality of the costs of purchasing securities, we can take as a basis general rule, for which an indicator less than 5% of a particular amount is not considered significant, but this must be reflected in accounting policy enterprises.
Shares, as one of the types of financial investments, can be acquired by an organization in the following ways:
- for a fee;
- received as a contribution to the authorized capital;
- free of charge;
- by barter.
A share is an issuance security that secures the rights of its owner (shareholder) to receive part of the profit of the joint-stock company in the form of dividends, to participate in the management of the joint-stock company and to part of the property remaining after its liquidation. Typically, a share is a registered security.
When receiving securities for a fee, their value is the sum of all purchase costs. The contractual value of securities can be expressed not only in rubles, but also in foreign currency, which is converted into rubles on the day the costs of their purchase are reflected. Positive exchange differences arising after payment are reflected in the composition of other income, negative - in the composition of other expenses. They do not affect the initial value of the shares.
Recalculation of the value of banknotes at the cash desk of the organization, funds in bank accounts (bank deposits), cash and payment documents, securities (except for shares), funds in settlements, including for loan obligations with legal entities and individuals (with the exception of funds received and issued advances and advance payments, deposits) denominated in foreign currency into rubles must be made on the date of the transaction in foreign currency, as well as on the reporting date.
The initial cost of financial investments made as a contribution to the authorized (share) capital of an organization is their monetary value, agreed by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation. AT individual cases an independent appraiser must be involved to assess the value of financial investments. In limited liability companies, this is necessary if the value of shares contributed to the authorized capital exceeds 20,000 rubles. (art. 15 federal law dated 08.02.1998 N 14-FZ "On Limited Liability Companies").
Accounting loans as one of the types of financial investments has its own characteristics. Let's dwell on some of them.
The organization has the right to issue a loan to another enterprise or individual. Such transactions are made in writing - a loan agreement. The interest that the recipient must pay for the right to use the loan is usually specified in the contract. If there is no such condition in it, then they are calculated based on the refinancing rate in force at the time of repayment of the loan.
If an organization issues interest-free loan, then it is not taken into account as part of financial investments, since one of the criteria for recognizing financial investments is the receipt of income (in the form of interest on the use of a loan). Lines 230 (long-term receivables) or 240 (short-term receivables) are intended for such loans.
The loan can be issued both in non-cash and in cash form. When carrying out an operation to issue or return cash loans, cash registers do not need to be used, since in this case there is no sale of goods, works or services. When issuing cash loans, one should be guided by the Letter of the Bank of Russia dated 04.12.2007 N 190-T, which explains that legal entities and individual entrepreneurs shall not be entitled to spend cash received by their cash desks for goods sold by them, work performed by them, services rendered by them, as well as as insurance premiums for loans. Cash funds received at the cash desks of enterprises are subject to delivery to banking institutions for subsequent crediting to the accounts of these enterprises.
Example 1
. The organization issued a loan in the amount of 500,000 rubles to its employee. In order to ensure the repayment of the issued loan, a car pledge agreement was concluded (the value of the pledged property by agreement of the parties is 1,000,000 rubles) and a guarantee agreement, under the terms of which the guarantor undertakes to be jointly and severally liable with the borrower to the lender. The question arises, what amount should be reflected on the off-balance account 008 "Securities for obligations and payments received" for each of the contracts.
This account is intended to summarize information on the availability and movement of received guarantees to ensure the fulfillment of obligations and payments, as well as guarantees received for goods transferred to other organizations (persons).
According to Art. 329 of the Civil Code of the Russian Federation (CC RF), the fulfillment of obligations may be secured by a penalty, pledge, retention of the debtor's property, surety, bank guarantee, deposit and in other ways provided by law or contract.
Analytical accounting for account 008 conducted for each collateral received.
Since the car is pledged to the organization until the loan agreement is repaid, the contractual value of this car must be reflected on account 008 in the amount of 1,000,000 rubles.
With regard to the contract of agency, the following should be noted. The essence of the legal mechanism for securing the performance of obligations is to give the creditor, in addition to the basic rights under the secured obligation, additional rights that he can use in the event of a breach by the debtor of the obligation. Agreement on the establishment of a certain method of ensuring the fulfillment of obligations under general rule gives rise to an additional obligation designed to ensure the fulfillment of the main obligation. In the example under consideration, the guarantee agreement was concluded in order to ensure the return of the issued loan in the amount of 500,000 rubles. This means that account 008 should reflect the amount corresponding to the amount of obligations under the loan agreement. As a result, on this off-balance account, under a pledge agreement, it is necessary to reflect the contractual value of the pledged car in the amount of 1,000,000 rubles, and under the agency agreement - in the amount of 500,000 rubles.
In other words, all settlements are carried out on balance accounts, and entries on account 008 are purely control in nature and are written off as the debt is repaid.
In addition to accounting, the company maintains tax accounting. In accordance with paragraphs. 10 p. 1 art. 251 tax code RF (TC RF) when determining tax base
does not take into account income in the form of funds or other property received under credit or loan agreements (other similar funds or other property, regardless of the method of borrowing, including securities for debt obligations), as well as funds or other property received as repayment these borrowings. That is, income in the form of funds received in repayment of previously issued loans does not need to be taken into account by the lender organization in income for the purposes of taxing the profits of organizations.
However, it should be borne in mind that according to paragraph 6 of Art. 250 of the Tax Code of the Russian Federation income in the form of interest received under loan agreements, credit, bank account, bank deposit, as well as on securities and other debt obligations, are recognized as non-operating income of the taxpayer (the specifics for determining bank income in the form of interest are established by Article 290 of the Tax Code of the Russian Federation). Thus, income in the form of interest received on previously issued loans to the borrowing organization is recognized as income of the organization-lender for the purposes of taxing the profits of organizations.
As mentioned above, a loan can be issued in non-cash or cash form, as well as in kind (for example, goods or materials). First of all, it is necessary to reflect the disposal of this type of loan, since Art. 39 of the Tax Code of the Russian Federation establishes that the transfer of ownership rights to them by one person to another on a reimbursable basis is recognized as the sale of goods, i.e. ownership passes from the lender to the borrower. In this regard, it is logical to assume that the transfer of property to the borrower should be subject to income tax and VAT from the lender as a sale operation. After the return of the loan, operations are carried out to capitalize the received property. The amount of "input" VAT can be deducted by the organization in the usual way.
Under a commodity loan agreement, the lender transfers to the borrower the ownership of things defined by generic characteristics, and the borrower undertakes to return to the lender an equal amount of other things of the same kind and quality and pay interest. In this case, interest can be expressed both in cash and in kind. In order to avoid claims from regulatory authorities regarding fees for services rendered, we recommend prescribing in the contract the procedure for calculating and paying interest, since this follows from Art. Art. 819 and 822 of the Civil Code of the Russian Federation. In the absence of such information, interest on the loan is calculated based on the refinancing rate of the Bank of Russia that was in effect on the day the debtor repaid the commodity loan or its corresponding part.
Example 2
. The organization issued a long-term loan to another organization in goods worth 4,720,000 rubles according to the contract. (including VAT - 720,000 rubles). The cost of goods is 4,000,000 rubles. The loan was issued at 20% per annum. Interest is calculated for each day the loan is used. They are paid no later than the end of each quarter.
Loan transactions are recorded in the following entries:
Debit 76 "Settlements with various debtors and creditors" Credit 90 "Sales", subaccount 1 "Revenue", - revenue from the sale of goods is reflected - 4,720,000 rubles;
Debit 90, subaccount 2 "Cost of sales", Credit 68 "Calculations on taxes and fees" - VAT charged - 720,000 rubles;
Debit 90, subaccount 3 "Value Added Tax", Credit 41 "Goods" - the cost of goods transferred on loan was written off - 4,000,000 rubles;
Debit 58 Credit 76 - the loan amount is reflected - 4,720,000 rubles;
Debit 76 Credit 91 "Other income and expenses", sub-account 1 "Other income", - interest accrued for January - 80,175 rubles. (4,720,000 x 20% : 365 days x 31 days);
Debit 76 Credit 91, sub-account 1 "Other income", - interest accrued for February - 72,416 rubles. (4,720,000 x 20% : 365 days x 281 days);
Debit 76 Credit 91, sub-account 1 "Other income", - interest accrued for March - 80,175 rubles. (4,720,000 x 20% : 365 days x 31 days);
Debit 51 "Settlement accounts" Credit 76, - interest for the I quarter was transferred - 232,766 rubles. (80 175 + 72 416 + 80 175).
Interest is calculated in a similar manner. When repaying a loan, the following entries must be made:
Debit 19 "Value added tax on acquired valuables" Credit 76, - VAT on returned goods is taken into account - 720,000 rubles;
Debit 41 Credit 76, - returned goods are credited - 4,000,000 rubles. (4,720,000 - 720,000);
Debit 68 Credit 19, - accepted for deduction of VAT on returned goods - 720,000 rubles;
Debit 76 Credit 58, - the amount of the repaid loan was written off - 4,720,000 rubles.
The funds of the enterprise, credited to the deposits of banks, are reflected in the composition of financial investments.
Bank deposit means money or securities deposited with a bank for a specific period on behalf of an individual or legal entity, which is charged a certain percentage for this.
Under a bank deposit (deposit) agreement, one party (bank), which has accepted the amount of money (deposit) received from the other party (depositor) or received for it, undertakes to return the deposit amount and pay interest on it on the terms and in the manner stipulated by the agreement(Clause 1, Article 834 of the Civil Code of the Russian Federation).
The company accrues interest on the deposit on the day when it has the right to receive it, based on the terms of the agreement, i.e. in accounting, interest is calculated regardless of whether the bank transferred interest to the organization's account or not.
In practice, a situation is possible when an organization put money on a bank deposit in November 2010. According to the agreement, accrual and payment of income (interest) will be made at the end of the deposit term in 2011.
According to paragraph 6 of Art. 271 of the Tax Code of the Russian Federation, under loan agreements and other similar agreements, the validity of which falls on more than one reporting period, income is recognized as received and included in income at the end of the corresponding reporting period. Thus, if a bank deposit agreement is concluded for a period of more than one reporting period, the depositor organization is obliged to accrue interest at the end of each reporting period, regardless of the actual receipt of money and the terms of the deposit agreement (if the organization keeps records of income and expenses for tax purposes on an accrual basis) . Therefore, taxable income (interest on bank deposit) will also arise in 2010 based on the amounts to be received, calculated on the basis of the actual number of days the deposit was placed in this period.
Recall that incomes are recognized in the reporting (tax) period in which they occurred, regardless of the actual receipt of funds, other property (works, services) and (or) property rights(accrual method). For income relating to several reporting (tax) periods, and if the relationship between income and expenses cannot be clearly determined or is established indirectly, income is distributed by the taxpayer independently, taking into account the principle of uniform recognition of income and expenses.
As part of financial investments reflect the cost of bills received by the organization from other persons. bill of exchange is a security and can be used as financial instrument for the purpose of earning interest or discount income.
In accounting, a promissory note purchased for a fee is accounted for as part of financial investments at initial cost in the amount of actual acquisition costs (clauses 8, 9 PBU 19/02). Income on promissory notes can be interest or discount. Discount income is the difference between the purchase price of a bill and the amount received upon redemption (face value).
The bill must contain the following required details:
- the name "bill" included in the text of the document and expressed in the language in which this document is drawn up;
- a simple and unconditional offer (promise) to pay a certain amount;
- name of the payer (only in a bill of exchange);
- payment term;
- the place where the payment is to be made;
- the name of the person to whom or by whose order the payment is to be made;
- date and place of drawing up the bill;
- Signature of the drawer.
In the absence of the listed details in the text of the bill, it loses its bill of exchange force and can be recognized as a document of a different legal form - an IOU.
Realization of property rights under a bill of exchange, as well as under any other security, is possible only by presenting it.
As a rule, income on a bill is recognized at the time of its redemption.
But at the same time, paragraph 22 of PBU 19/02 clarifies that for debt securities for which the current market value is not calculated, the organization is allowed the difference between the initial cost and the nominal value during the period of their circulation evenly as due on them in accordance with the terms of release of income, to attribute to the financial results of a commercial organization (as part of other income or expenses) or a decrease or increase in the expenses of a non-profit organization. A similar procedure for reflecting income is fixed as an element of the accounting reporting policy.
Example 3
. The company purchased a bill for 1,000,000 rubles. Its nominal value is 1,300,000 rubles, the maturity of the bill is 24 months. If the accounting policy of the organization provides for the reflection of income on bills at the time of their repayment, the following entries are made in the accounting:
Debit 91, sub-account 2 "Other expenses", Credit 58 - the bill is presented for redemption - 1,000,000 rubles;
Debit 76 Credit 91, sub-account 1 "Other income", - reflects the debt on repayment of the bill - 1,300,000 rubles;
Debit 91, subaccount 9 "Profit / loss from sales", Credit 99 "Profit and loss", - income (discount) on the bill is reflected - 300,000 rubles. (1,300,000 - 1,000,000);
Debit 51 Credit 76 - funds received to pay off the bill - 1,300,000 rubles.
If the accounting policy provides for the reflection of income on bills evenly during the period of their circulation, then the following entries are made:
Debit 58 Credit 51 - acquired financial bill- 1,000,000 rubles;
Debit 76 Credit 91, subaccount 1 "Other income", - accrued income for the 1st month of circulation of the bill - 12,500 rubles. [(1,300,000 - 1,000,000) : 24 months];
Debit 76 Credit 91, subaccount 1 "Other income", - accrued income for the 2nd month of circulation of the bill - 12,500 rubles. [(1,300,000 - 1,000,000) : 24 months];
Debit 76 Credit 91, subaccount 1 "Other income", - accrued income for the 3rd month of circulation of the bill - 12,500 rubles. [(1,300,000 - 1,000,000) : 24 months] etc.
The repayment of the bill is made out by records:
Debit 91, subaccount 2 "Other expenses", Credit 58 - the initial cost of the bill was written off - 1,000,000 rubles;
Debit 76 Credit 91, sub-account 1 "Other income", - reflects the cost of the bill presented for redemption - 1,000,000 rubles;
Debit 51 Credit 76 - reflected the income received (discount) on the bill - 300,000 rubles.
The transfer of ownership of the bill is confirmed by an act of acceptance and transfer, which must contain the mandatory details listed in paragraph 2 of Art. 9 of the Federal Law of November 21, 1996 N 129-FZ "On Accounting". In addition, it is necessary to indicate in it: details of the bill (series, number, date of issue, type (simple or transferable), face value, due date, etc.); details of the contract under which the bill was transferred. It makes sense to attach a copy of the bill to the act.
To account for financial investments, they are divided into two categories:
- for which the current market value is not determined (in this case, financial investments are indicated in the balance sheet at their original cost);
- according to which the current market value is determined, i.e. listed on the organized securities market.
In the second category, they are reflected in the balance sheet at the market price that was formed at the end of the reporting period. The difference between the initial and current estimates is included in other income or expenses. The organization has the right to adjust the value of securities on a monthly or quarterly basis (paragraph 20 of PBU 19/02). The selected period should be reflected in the accounting policy of the organization for accounting.
According to paragraph 3 of Art. 280 of the Tax Code of the Russian Federation, securities are recognized as circulating on the organized securities market only if the following conditions are simultaneously met:
- if they are admitted to circulation by at least one trade organizer who has the right to do so in accordance with national legislation;
- if information about their prices (quotations) is published in the media mass media(including electronic ones) or may be presented by the organizer of trade or other authorized person to any interested person within three years after the date of transactions with securities;
- if a market quotation was calculated for them during the last three months preceding the date of the taxpayer's transaction with these securities, when it is provided for by law.
Example 4
. In May, the investor enterprise acquired securities, according to which, in accordance with the established procedure, they can be determined market value, in the amount of 1,000,000 rubles. The accounting policy of the organization states that the adjustment of such financial investments should be carried out quarterly.
According to officially published data (quotations stock exchange) the value of these securities amounted to: as of May 31 - 990,000 rubles; as of December 31 - 1,008,000 rubles.
In accounting, the above operations should be reflected in the entries:
Debit 60 "Settlements with suppliers and contractors" Credit 51 - payment for securities to the seller - 1,000,000 rubles;
Debit 58 Credit 60 - securities were capitalized (in May) - 1,000,000 rubles;
Debit 91, sub-account 2 "Other expenses", Credit 58 - reflects the adjustment (revaluation) of securities as of May 31 - 10,000 rubles. (1,000,000 - 990,000);
Debit 58 Credit 91, sub-account 1 "Other income", - reflects the adjustment (revaluation) of securities as of December 31 - 18,000 rubles. (1,008,000 - 990,000).
Thus, in financial statements at the end of the year, the value of the securities will be fixed at 1,008,000 rubles. (1,000,000 - 10,000 + 18,000).
In the event that the current value of the financial investment object, previously valued at the current market value, is not determined on the reporting date (for example, these shares are no longer listed on the stock exchange), this financial investment object is reflected in the financial statements at the cost of its last assessment (clause 24 PBU 19/02). In the future, no adjustment of its value is made, since it automatically falls into the first category of financial investments.
simple partnership agreement(agreement on joint activities) is increasingly used in the field of entrepreneurial activity. It allows you to combine the activities of several business entities, as well as individuals to engage in one general view activities without forming a legal entity.
The concept, content of a simple partnership agreement, the rights, obligations and responsibilities of the parties under this agreement are defined by Ch. 55 of the Civil Code of the Russian Federation. Under this agreement, the partners combine their contributions in order to act together for profit or to achieve another goal that does not contradict the law.
In the agreement, the partners must indicate what activities they will jointly engage in, since the hallmark of the joint activity agreement is that all participants have a common goal, for which the partnership is created. If the goal is commercial, then only organizations and individual entrepreneurs can participate in the partnership. But individuals who are not registered as PBOYuL cannot become comrades.
The contribution of a friend is recognized as everything that he contributes to a common cause, including money, other property, professional and other knowledge, skills and abilities, as well as business reputation and business connections (Article 1042 of the Civil Code of the Russian Federation). Thus, the parties have the right to independently assess the professional skills and business connections of a friend, allowing him, for example, to receive a large loan for joint purposes. Professional and other skills, abilities, etc. quite difficult to document. This simple partnership agreement is significantly different from all other contributions.
The partners' contributions are assumed to be equal in value, unless otherwise follows from the simple partnership agreement or actual circumstances. The monetary value of a partner's contribution is made by agreement between the partners.
The initial cost of financial investments made to the account of the contribution of a partner organization under a simple partnership agreement is their monetary value agreed by the partners in the agreement (clause 15 PBU 19/02).
Financial investments are accepted for accounting by a comrade who is entrusted with the duty of conducting common affairs.
For example, by a simple partnership agreement, the conduct of common affairs is entrusted to the organization. As a contribution to the authorized capital of the partnership, it accepts shares circulating on the organized securities market, the value of which under the agreement is 1,000,000 rubles.
In the separate accounting of a simple partnership, this operation is reflected in the entry:
Debit 58 Credit 80 "Authorized capital" - shares received in evaluation under a simple partnership agreement - 1,000,000 rubles.
PBU 19/02 introduced the concept of " impairment of financial investments". It applies only to financial investments for which the market value is not determined. Impairment is understood as a steady decline in value below the amount of economic benefits that the organization expects to receive from these financial investments in the normal conditions of its activities (clause 37 PBU 19/02).
In order to recognize that investments are depreciating, the following conditions must be simultaneously present:
- as of the reporting date and the previous reporting date, the book value is significantly higher than their estimated value;
- during the reporting year, the estimated value of financial investments changed significantly only in the direction of its decrease;
- as of the reporting date, there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future.
Impairment of financial investments can occur in the following situations:
- the emergence of signs of bankruptcy in the issuing organization of securities owned by the organization, or in its debtor under a loan agreement, or declaring it bankrupt;
- making a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value;
- absence or significant decrease in income from financial investments in the form of interest or dividends with a high probability of a further decrease in these income in the future, etc.
When such trends occur, the organization should conduct a test to determine the existence of conditions for a sustainable decrease in the value of financial investments. If the audit confirms a decrease in value, the organization creates a reserve for the depreciation of financial investments (account 59). commercial organization forms a reserve due to financial results (as part of operating expenses), and non-commercial - due to increased costs.
Checking for depreciation of financial investments is carried out at least once a year as of December 31 of the reporting year if there are signs of depreciation. The organization has the right to carry out the specified check on reporting dates interim financial statements.
By credit account 59 the creation of reserves is reflected, on the debit - its use. The balance shows the balance of reserves at the end of the reporting period. This account acts as a regulator to account 58 and serves financial source cover losses due to the possible sale of unquoted financial investments at a price less than their book value.
The reserve is created on December 31 of each reporting year (or by the decision of the organization on a quarterly basis on the reporting dates of the interim financial statements), which is reflected in the entry:
Debit 91, sub-account 2 "Other expenses", Credit 59 - reserves for the depreciation of investments in unquoted financial investments have been created.
A change in the amount of the reserve (adjustment) for the depreciation of investments in unquoted financial investments occurs in the event of a further change in their estimated value at the end of the reporting period:
Debit 91, sub-account 2 "Other expenses", Credit 59 - the amount of the reserve for depreciation of investments in unquoted financial investments has been increased;
Debit 59 Credit 91, sub-account 1 "Other income", - the amount of the reserve for depreciation of investments in unquoted financial investments has been reduced.
Example 5. An organization purchased 3,000 shares at a price of 500 rubles. a piece. The accounting policy determines that a decrease in the value of financial investments is recognized as significant if the difference between the book value and estimated value of securities exceeds 5%.
The following is recorded in the accounting records:
Debit 58 Credit 60 - securities were capitalized - 1,500,000 rubles. (500 rubles x 3000 pcs.).
According to an independent appraiser, the estimated value of the securities is 430 rubles. a piece. The decrease is 14%.
The decline in value is significant and the entity creates a provision for share impairment. The amount of the reserve will be 210,000 rubles. [(500 RUB - 430 RUB) x 3000 pieces].
This operation is reflected in the entry:
Debit 91, sub-account 2 "Other expenses", Credit 59 - a reserve for depreciation of shares has been created - 210,000 rubles.
At the end of the reporting period, the shares in the balance sheet are recorded at their original cost less the provision. Their cost will be 1,290,000 rubles. (1,500,000 - 210,000).
The reserve is written off to financial results (as part of operating income) in two cases:
- upon sale or other disposal of financial investments for which the reserve was created;
- if there is no further sustainable significant reduction in the value of these investments.
The reserve is written off at the end of the year or the reporting period in which these financial investments were disposed of:
Debit 59 Credit 91, sub-account 1 "Other income" - the reserve for the depreciation of financial investments was written off in connection with their disposal.
For non-professional participants in the securities market, the amounts of deductions to the reserve for the depreciation of investments in securities are not included in expenses when determining the tax base for income tax (clause 10, article 270 of the Tax Code of the Russian Federation). The amounts of restored reserves are also not taken into account (clause 25 clause 1 article 251 of the Tax Code of the Russian Federation).
Data on reserves for depreciation of financial investments, indicating the type of financial investments, the amount of the reserve created in reporting year, the amount of the reserve recognized as operating income of the reporting period; the amount of the reserve used in the reporting year should be set out in explanatory note to balance sheet organization, based on the requirement of materiality.
Over time, financial investments may retire. The disposal of securities takes place in cases of redemption, sale, gratuitous transfer, transfer in the form of a contribution to the authorized (share) capital of other organizations, transfer on account of a contribution under a simple partnership agreement, etc. (clause 25 PBU 19/02). The date of disposal of investments is determined at the moment when the ownership right, financial risks associated with financial investments (price change risk, debtor's insolvency risk, liquidity risk, etc.) are transferred to the new owner of financial investments.
In such situations, they are written off in one of the ways regulated by PBU 19/02:
1) at the initial cost of each unit;
2) at the average initial cost;
3) at the initial cost of the first acquisition time (FIFO).
The first method, as a rule, is used in relation to contributions to authorized capital, loans, deposits in banks accounts receivable acquired on the basis of the assignment of the right to claim. With regard to securities (shares, bonds, bills), the second or third method can be used.
The procedure for determining the cost of retiring financial investments differs for "quoted" and "unquoted" financial investments. If financial investments for which the current market value is calculated are retired, then their value is calculated by the organization based on the latest assessment (paragraph 30 of PBU 19/02).
The choice of one of these methods is allowed for each group (type) of financial investments and must be fixed in the accounting policy as its element (clause 26 PBU 19/02).
When using the second method (provided that it is impossible to determine the current market value of securities), the average value of a security is calculated by the formula:
average cost security = (Value of securities at the beginning of the month + Value of securities received during the month) / (Number of securities at the beginning of the month + Number of securities received at the end of the month).
Cost of retired securities to be written off:
Value of securities retired = Average value of a security x Number of securities retired during the month.
The value of the balance of securities at the end of the month:
Value of Securities Remaining = Average Value of Security x Number of Securities Remaining at the End of the Month
Value of the remaining securities = Value of securities at the beginning of the month + Value of securities received during the month - Value of retired securities.
Similar calculations are made at the end of each month. It is allowed to conduct them within a month for each date of disposal of financial investments (method of moving average initial cost).
A rolling estimate makes it possible to use it for each date of transactions, which is very convenient for computer processing of information in accounting programs.
It should be borne in mind that the average initial cost of securities is determined in relation to the same type (shares, bonds, bills).
Example 6
. One of the non-core activities of the organization is the purchase and sale of securities. According to the accounting policy, shares are written off at the average initial cost.
At the beginning of the month, there were 100 shares of one issuer on the balance sheet. The share price was 900 rubles. a piece. During the month, the company acquired shares of the same issuer. They were bought in three batches:
1st batch - 150 pcs. at a price of 1000 rubles / piece;
2nd batch - 130 pcs. at a price of 1100 rubles / piece;
3rd batch - 250 pcs. at a price of 1200 rubles / piece.
Operations for their acquisition are reflected
thus:
Debit 58 Credit 60 - the 1st batch of shares was acquired - 150,000 rubles. (1000 rubles x 150 pieces);
Debit 58 Credit 60 - the 2nd batch of shares was acquired - 143,000 rubles. (1100 rubles x 130 pieces);
Debit 58 Credit 60 - the 3rd batch of shares was acquired - 300,000 rubles. (1200 rubles x 250 pcs.).
In the same month, 500 shares were sold. The average initial value of a share, calculated at the end of the month, will be:
(900 rubles x 100 pcs + 1000 rubles x 150 pcs + 1100 rubles x 130 pcs + 1200 rubles x 250 pcs) / (100 + 150 + 130 + 250) = 1084.13 rubles
The value of shares retired during the month is:
RUB 1084.13 x 500 = 542,065 rubles
The write-off of securities is recorded as follows:
Debit 91, sub-account 2 "Other expenses", Credit 58 - the value of the shares sold was written off - 542,065 rubles.
At the end of the month, the company's number of shares will be:
100 + 150 + 130 + 250 - 500 = 130 pieces;
share price:
(900 rubles x 100 pcs + 1000 rubles x 150 pcs + 1100 rubles x 130 pcs + 1200 rubles x 250 pcs) - 542,065 rubles. = 140,935 rubles.
Valuation of securities with the method FIFO is based on the assumption that securities are sold during the month in the sequence of their receipt (acquisition), i.e. the securities that were the first to be offered for sale should be valued at the initial cost of the first by the time of acquisition, taking into account the value of the securities listed at the beginning of the month. When applying this method, the assessment of securities remaining at the end of the month is made at the actual cost of the latest in terms of the time of acquisition, and the cost of the sale (disposal) of securities takes into account the value of the earliest in time of acquisition. This means that when using the third method, first those securities that are listed in the balances are written off, then those that entered the organization first. If they are not enough - those who arrived second, if they are not enough - third, etc.
According to the conditions of the above example, if the company uses the FIFO method, then in this case the following are written off:
- all shares that are registered at the beginning of the month (100 pcs.);
- all shares received in the 1st batch (150 pieces);
- all shares received in the 2nd batch (130 pcs.);
- part of the shares received in the 3rd batch (120 pcs.).
Total 500 shares (100 +150 +130 + 120).
At the end of the month, the enterprise will have shares from the 3rd batch in the amount of 130 pieces. (250 - 120) at a price of 1200 rubles. a piece.
The cost of the written-off shares will be 527,000 rubles. (900 rubles x 100 pcs + 1000 rubles x 150 pcs + 1100 rubles x 130 pcs + 1200 rubles x 120 pcs).
Their write-off is reflected in the entry:
Debit 91, sub-account 2 "Other expenses", Credit 58 - the cost of the shares sold was written off - 527,000 rubles.
The value of the shares remaining at the end of the month will be 156,000 rubles. (1200 rubles x 130 pcs.).
In paragraph 9 of Art. 280 of the Tax Code of the Russian Federation, it is clarified that when selling or otherwise disposing of securities, the taxpayer independently, in accordance with the accounting policy adopted for tax purposes, chooses one of the following methods of writing off the value of retired securities as expenses:
- at the cost of the first time acquisitions (FIFO);
- per unit cost.
These methods apply to securities, both traded and not traded on the organized securities market.
The FIFO method is applied to securities that are comparable in terms of type, terms of circulation and type of income, i.e. one market quotation (the weighted average price of securities) is applicable to them.
The method of writing off to tax expenses the cost of retired securities at unit cost is used if the organization can accurately identify the securities being sold, or they have individually defined characteristics, or the accounting system and the terms of the transaction allow the organization to determine which specific securities it has are being sold. , and it can determine the value of these particular securities.
The selected method is fixed in tax accounting policy.
Financial investment is very effective way making good profits. Of course, where big money is circulating, it is impossible to do without risks and losses. Let's look at what financial investments are, what types of investments exist and what risks there are.
To obtain complete data on the presence and movement of the enterprise's deposits in government securities, shares and bonds of third-party firms, as well as obtaining information on the issuance of loans from its assets to other organizations, 58 "Financial Investments" is intended.
The accountant monitors the movement of the company's funds and transfers and issues these funds. It is guided by the provision on accounting, namely PBU 9/99 "Income of the organization"
Accounting reporting is very important in the activities of the enterprise. Accounting for PV plays one of the main roles there. Without them, it is not possible to conduct business activities at many enterprises. The first place in accounting is occupied by financial investments, because it is thanks to them that the greatest flow of cash injections into the enterprise occurs, thereby increasing its well-being.
talking plain language, PV is an investment of its assets. These include the following:
Financial investments are included in accounting as monetary losses for the investor. From the amount of investments, the company will receive the expected income in the form of dividends.
PV is understood by us as cash injections into property, the acquisition of the opportunity to participate in the affairs of other companies. PVs are divided according to the following parameters:
Purpose of purchase:
By speed of receipt:
For relations with the capital of the company:
Long-term infusions of funds include funds invested in the development of other enterprises or directed to the purchase of shares in third-party firms. They also include long-term loans that were transferred to other firms in order to receive interest on the amount repaid.
Short-term injections include securities that are in considerable demand, all kinds of bonds and stocks, short-term financial support for other firms, and deposit certificates.
The sources of obtaining PV include personal capital and funds temporarily received from outside.
Personal capital includes:
Funds received from outside include:
To accept assets as PV, the following set of requirements must be met simultaneously:
This type of investment is transferred to accounting in total amount costs for the investor. From this amount, the company will receive the expected income. PV are taken for accounting at the cost that was originally.
According to the available PV, the main part of the costs are the costs that were transferred to the seller. The remaining expenses for receiving injections can be regarded by the enterprise as other, and they will be taken into account on 91 “Other income and expenses”. And accounting for investments that are considered major will be accounted for on another account - on account 58, called "Financial Investments".
The available expenses for the purchase of assets are:
Initial monetary value PV is the amount that was spent on their purchase, after deducting all due taxes. The value of the cash investment of an enterprise or firm received under an agreement when paid without cash is considered the value of the assets that were transferred. Their final value is calculated from the ordinary price at which the firm under other circumstances evaluates these funds.
The initial investment amount is based on their cost in the market. The extent to which assets depend on the market cost is calculated based on what operations are carried out with them. The company's cash injections include amounts used to pay interest on loans for the acquisition of assets before they are registered with the company's accountant.
Benefits for these types of investments are income from any areas of activity or other receipts that comply with the accounting regulations.
Expenses that are associated with the issuance of loans and credits to other firms are considered other expenses of the organization and have a corresponding account. Also, these expenses include payment for services provided by the bank for the storage of cash investments, the provision of any paid information and registration necessary documentation at the request of the depositor.
Speaking about the topic of finance, the concepts of profit and risks are inextricably linked with each other. In this context, risks are understood as possible losses associated with financial injections. Before investing your funds in any assets, you need to carefully analyze and try to predict possible losses.
The risk associated with financial investments is divided into 2 groups:
It depends on the current situation in the country.
Political and economic changes not only in our country, but also in the world as a whole is a big risk for financial investments. Rise and fall in prices, exchange rate changes, interest rates and in general economic instability, have a great influence on the increase in risks associated with monetary investments.
It includes the risk of falling prestige and the economic component of the enterprise that was the object of financial investments. The company may go bankrupt, and its securities will significantly lose value or even depreciate.
The main stages of calculating the risks associated with the injection of own funds into securities:
The more long term for which you need to plan risks, the more difficult it is to get an accurate forecast.
The economy of our country is extremely unstable, and the longer the period for which you need to get a forecast, the greater the risk associated with cash investments.
Financial injections and their accounting is a separate chapter in accounting and a separate expense item. Currently, all reputable companies and firms are investing their funds in order to further generate income. This is especially beneficial for investments related to foreign exchange. The dollar and euro exchange rates are constantly jumping, but if you catch the moment when one of these currencies is at its peak, you can make a huge profit.
From all of the above, we can conclude that PV are very profitable and bring considerable profit to the enterprise that makes these investments. This is considered the same type of income as, for example, the profit from the sale, and is subject to all relevant taxes. But there are certain risks that must be calculated before making injections of your funds.
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Many companies that, in addition to carrying out the main economic activity, they also carry out investment, in practice they encounter such a nomenclature as financial assets and investments. But the deposits must not only be made, but also correctly accounted for in the accounts in accounting and reporting. And more on that later.
Purposeful activity of the subject commercial activities, not related to the main one, and associated with the investment of available funds in the financial assets of business entities, is a financial investment.
In order for the acquired asset to become a financial investment, it must be acquired for the purpose of:
It is also necessary to know that a financial asset is considered an investment in accounting only if, with its purchase, all financial risks that accompany the presence and use of financial assets are transferred to the owner of such assets.
In practice, there is a classification of investment investments by duration of use, by type of financial asset acquired, by purpose, etc. But for accounting in the financial statements, in particular in the balance sheet and a note to it, it is important to know the classification by timing and by type of assets.
According to the duration of PV can be:
What is included in financial investments in the balance sheet by type of financial assets:
If we talk about financial statements in the context of financial statements, then the following information is subject to clarification:
The balance sheet of financial investments contains two lines in which FA must be reflected: this is line 1170 “Financial investments” and line 1240 “Financial investments. The first is for those investments whose term exceeds a year, that is, for those that are long-term. Current financial investments in the balance sheet are reflected exclusively in line 1240. This reflects the balance of assets, the duration of circulation of which does not exceed 12 months.
But at the enterprise, in most cases, investments are of a long-term nature. And such financial investments are reflected in the balance sheet only on line 1170, therefore, about the features of its calculation below.
Financial investments 1170 in the balance sheet is the final balance, in which the following accounts take part:
58 "Financial investments";
55 "Special bank accounts";
59 "Reserve secured by financial investments";
73 "Settlements with personnel for other operations"
The formula for calculating the final balance for balance line 1170 can be represented as follows: the balance of account 58 plus the total of account 55 minus the total of account 59 and plus the balance of account 73. The balance is a debit.
Generally speaking, at the end of the reporting period, the annual balance sheet should reflect the entire value of available long-term financial assets. The very same explanation regarding the types of assets available on the balance sheet of the enterprise must be reflected in more detail in the Explanation to the reporting, in particular, in section 2. The algorithm for disclosing and presenting data and the procedure for calculating, determining the initial, market and other values \u200b\u200bis presented in RAS No. 19-02. This document is fundamental in regulating the accounting of such assets.
Thus, it was determined that financial investments in the balance sheet are line 1170. But in order to correctly calculate the final balance for this asset, you need to know the features of their accounting.
For example, you need to know that the main account for accounting for such assets is account 58 “Financial investments”. It has its own sub-accounts, each of which is designed to account for a certain type of investment:
It is also necessary to know that all securities are subject to reflection on the accounts only at the primary cost. In this case, the initial cost includes the entire amount of costs that were incurred for the acquisition of such securities.
A special feature is that such a primary cost is reflected in the event that the company does not create a separate reserve for the depreciation of such long-term investments. If it is created, then in the balance sheet and on the accounts the amount is indicated minus the value of the reserve created on the account.
Here is such a basic basis for the correct accounting and reflection of long-term financial investments. But in the process of activity, other nuances may arise, and then it is necessary to be guided exclusively by PBU 19-2.
