Accounting of settlements and obligations, Accounting...

Accounting for settlements and liabilities

As a result of studying this chapter, the student must:

know

• the essence, goals and objectives of accounting accounting in the enterprise;

• the procedure for assessing the requirements and liabilities of the enterprise;

• Primary documents, which formulate specific financial and business operations to record transactions with debtors and creditors;

• the main tax aspects of accounting for transactions with settlements with creditors and debtors;

be able to

• make calculations and transactions on the accounting of transactions with debtors and creditors;

• use regulatory legal acts on the accounting of the company's calculations;

• answer test questions and solve situational problems in the accounting of enterprise calculations;

own

• the skills and skills of documenting and information support of the enterprise on the state of settlements with creditors and debtors;

• the skills and skills of using the information generated in the accounting system of settlements of the enterprise with debtors and creditors, for the purposes of managing the economic entity.

Accounting for on-farm calculations

When organizing a business, its owners often prefer to create several smaller independent companies instead of one large company. Due to this, certain savings on tax payments can be obtained, since the tax rates are differentiated, and a certain limitation of legal responsibility for the obligations of the enterprise is achieved.

Accounting for legal entities that have branches (representative offices) or other structural subdivisions may be carried out in various forms, depending on the purpose of structural units, sources of financing their expenditures, and the structure of their management. The order of accounting at the parent organization also depends on the presence or absence of a bank account from the branches and a separate balance sheet. Each legally independent company that is part of the corporation is required to maintain the accounting records of its own operations and record their results in the form of financial statements. This means that transactions with members of the group should be somehow identified so that they can later be eliminated in the preparation of consolidated statements.

If branches, representative offices and other isolated units are allocated to a separate balance, then the account 79 "Internal settlements" is used for settlements of the parent organization with separate divisions. Account 79 is active. To this account, sub-accounts can be opened:

79/1 Calculations for selected property & quot ;;

79/2 Current Accounts & quot ;;

79/3 "Settlements under the Trust Deed."

1 The loyalty is written off:

D 79/1 Calculations for selected property & quot ;;

To 01, 10 & "Property, Property & quot ;, Materials & quot ;.

Accepted property is coming:

D 01, 10 & "Property, Property & quot ;, Materials & quot ;;

Go to 79/1 Settlements for selected property .

Sub-account 2 takes into account the state of all other calculations of the organization with units allocated to a separate balance sheet - for mutual release of material values, sale of products.

Subaccount 3 takes into account calculations under a trust management agreement.

Property received under a trust management agreement is accounted for on a separate balance sheet of the trustee. The following entries are made:

D 10, 07, 01 Materials & quot ;, Equipment for installation & quot ;, Primary Tools & quot ;;

To 79/3 "Settlements under a trust management agreement"; - Property received;

D 79/3 "Settlements under a trust management agreement";

By 10, 07, 01 "Materials", "Equipment for installation", "Property, Property - property transferred.

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