Organization of fixed assets accounting in terms of...

The organization of the account of the basic means in the conditions of rent relations

The lack of the necessary sources of financing for the acquisition of fixed assets poses a challenge for enterprises to find other ways to update them. One of such ways is rent of property.

Rent as a kind of entrepreneurial activity provides for the transfer by one party (lessor) of the other party (the lessee) for temporary ownership and use or temporary use of property in the form of non-current assets.

The US Civil Code defines the following types of lease:

• rent of buildings and structures;

• Lease of enterprises;

• rent of vehicles (with the provision of services for management and technical operation and without their provision);

• Rental;

• financial leasing (leasing).

Each of them is made out in an agreement. It should clearly state the technical and economic characteristics of the object at the date of the contract, the cost, lease term, size, procedure, conditions and terms of rent payment are indicated. Particular attention should be paid to the responsibilities and responsibilities of the parties during the operation of the facility by the tenant. According to the current legislation, the right to lease real estate is subject to state registration, even if the participants have not provided for this in the lease agreement.

Lease as an accounting object is current and long-term.

Current lease is governed by the lease agreement concluded by the lessor with the tenant. The term of such a lease can not be more than one year. The procedure for concluding a lease contract, its content and the property rights of the parties are normatively fixed by Ch. 34 of the US Civil Code. If there is no indication in the lease term, it is considered that such an agreement is concluded for an indefinite period. In such a situation, each of the parties based on their interests has the right at any time to refuse the contract. Under one condition: the initiator of the termination of the contract must inform the other participant about it not later than one month, and at the lease of real estate - for three months. At the same time, a law or a contract may establish a different period for warning of the termination of the lease contract concluded for an indefinite period.

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For certain types of rent, as well as rent of certain types of property by law, the maximum (maximum) term of the contract is allowed. In a similar situation, if the lease term is not specified in the contract and neither of the parties has refused to terminate it before the deadline foreseen by law, the performance of the contract is suspended after the specified period.

The conclusion of a contract for a period exceeding the maximum is considered to be a conclusion for a term.

The absence of a rent in the contract gives grounds to recognize such a contract as null and void.

The procedure, terms and deadlines for entering the rent are determined in accordance with the lease agreement. Some normative documents concerning lease relations clearly define not only the terms of the lease agreement, but also the size of the rent payment.

For example, according to the US Government Resolution No. 645 of August 21, 2010, in order to support small and medium-sized businesses in providing them with federal property, the lease term can not be less than 5 years, and the rent should be paid by the lessee as follows:

• in the first year of rent - 40% of the rent;

• In the second year - 60%;

• in the third year - 80%;

• In the fourth year - 100%.

If they are not defined by this agreement, then it is considered that the general procedure usually applied for such transactions is being applied under comparable circumstances.

Because the current lease does not provide for the transfer of ownership to the new owner - the lessee, the latter takes into account the acquired property on the off-balance account 001 & "Leased Fixed Assets".

In accordance with the terms of the contract, the lessee reflects the works performed to improve the operation of the main characteristics of such property in the account as capital investments in account 08 "Investments in non-current assets" with the following attribution for an increase in the carrying amount of property, plant and equipment:

DEBIT 01 Property, Property

CREDIT 08 "Investments in non-current assets."

Such a record is recognized in the accounting if the costs incurred relate to the improvement of separable parts of the leased property and therefore recognized as the property of the lessee.

In the event that the costs incurred extend to the inseparable improvements of the leased object, there are three possible options for reflecting such costs in the current accounting.

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The first option involves compensation for the costs incurred by the lessor by offsetting the rent.

The second option takes into account the reimbursement to the lessee of the lessor's expenses but improvement of the object of lease.

The third option recognizes the expenses incurred as direct losses of the lessee. This is possible in a situation if he carried out similar costs without agreement with the owner of the property.

The return of the leased object requires transfer to the lessor and the completed capital works with their reflection through the account 91 "Other income and expenses":

DEBIT 91 Other Income & Expenses subaccount 91-2 Other costs

CREDIT 01 Primary Tools .

In the account of the lessor, the transfer of the object is reflected in the internal record on account 01 "Property, Property :

DEBIT 01 Primary Tools subaccount Own fixed assets leased to current lease

CREDIT 01 Primary Tools sub-account Own fixed assets .

In the amount of payments accepted for payment, the lessee must take into account the amount of VAT:

DEBIT 19 Value Added Tax on Purchased Values ​​

CREDIT 76 "Settlements with different debtors and creditors."

In a situation where the rent is paid by the lessee on deferred payment terms, the above amount of VAT is taken to be deductible after the actual repayment of the lessee's obligations to the lessor.

In the event that the rent in accordance with the contract is transferred by the lessee forward, i.e. in advance, VAT from the specified amount can not be accepted for deduction. This procedure should be formalized only as the next period to which the rent applies.

For the amount of the rent invoiced to the lessee in the account of the lessor, an accounting entry is made:

DEBIT 76 "Settlements with different debtors and creditors" CREDIT 91 & "Other Income & Expenses subaccount 91-1 Other income or 98 Deferred revenue Subaccount 98-1 & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp;

In the amount of the rent, the lessor also compensates the accrued depreciation for the transferred object:

DEBIT 91 "Other Income & Expenses"

CREDIT 02 "Depreciation of fixed assets."

The lessee takes into account rent as part of its current costs or as part of future expenses:

DEBIT 20 "Primary Production", 23 "Auxiliary Manufacturing", 97 "Future Expenses" & " , etc. CREDIT 76 "Settlements with different debtors and creditors."

For VAT amount:

DEBIT 19 Value Added Tax on Purchased Values ​​

CREDIT 76 "Settlements with different debtors and creditors."

It is not uncommon for a tenant, in accordance with the technological process, to have a significant share in the total costs of spending on utilities. In this case, they must be reimbursed by the lessee to the lessor under a separate contract. And the lessor is obliged on his behalf to conclude a contract with the supplier of utilities, indicating in them a tenant as a sub-owner. Then, according to sub. 10 and. 1 tbsp. 264 US TC costs of the lessee for public services are accounted to them as part of other costs associated with production and sales and are recognized by them as part of the rent for the premises.

For the amount of payment received from the lessee on the rent in the account of the lessor, the entry is made:

DEBIT 50 "Cashier", 51 Settlement accounts

CREDIT 76 "Settlements with different debtors and creditors."

Simultaneously:

DEBIT 98 & "Deferred revenue

CREDIT 91 & "Other Income & Expenses subaccount 91-1 Other revenues .

The costs of repairing the property leased to the current lease are included in the cost of products (works and services) in the usual manner.

When the cost of repairing the leased property is incurred by the lessee, the rationale for accepting such expenses as part of its current costs is the existence of two conditions:

• leased fixed assets are used by the lessee for the purposes of statutory activities;

• The specified norm of acceptance for the account by the lessee of expenses for repair of the basic means follows from the maintenance of the contract of rent or is provided by the current legislation.

At the end of the lease term and the receipt of fixed assets, the lessor will account for them in the reverse entry within the account 01 "Fixed assets In the context of the corresponding sub-accounts mentioned above. In the lessee's accounting, such an economic operation for the return of the object is shown on the credit of the off-balance account 001 "Leased fixed assets."

Long-term rentals of fixed assets is treated as rent with option to purchase and financial lease (leasing) .

The difference between them is due to the fact that in leases with the right to buy it deals with property that was previously in use by the lessor. In the context of a financial lease, the object of the contract is new property with clearly defined volume of transferred ownership rights and the period of use, the procedure for accounting, maintenance and repair, as well as settlements (payment schedule). Financial lease according to art. 665 of the Civil Code of the United States provides for the acquisition by the lessor of certain property from the seller specified by the lessee, followed by the provision of this property for a fee for temporary possession and use for business purposes. Article 4 of the Federal Law of October 29, 1998 No. 164-FZ "On Financial Leasing (Leasing)". supplements that such a transaction must also provide, in addition, the right to acquire a leased asset under certain conditions of the lessee.

The subject of leasing can be any non-consumable items, including enterprises and other property complexes, buildings, structures, equipment, vehicles and other movable and immovable property that can be used for entrepreneurial purposes. They can not be land plots and other natural objects, as well as property that is prohibited by law for free circulation or for which a special procedure of treatment is established.

The main forms of leasing are domestic and international.

In accordance with IAS 17 "Lease", dedicated to rent accounting, the distinctive features of a finance lease are as follows:

• The parties to the transaction under the contract are three parties: the manufacturer, the buyer and the leasing company or the citizen-entrepreneur who are licensed to carry out this kind of activity;

• the object of the transaction is new property. First of all, these are machines and equipment;

• the property is acquired from the manufacturer at the direction of the lessee;

• Such property is intended for use by the lessee only for business purposes. Therefore, leasing payments should be considered as part of its current costs, forming the cost of products (works, services);

• Depending on the terms of the contract at the end of the lease term, the lessee can acquire such property in ownership, return it to the lessor or re-arrange the contract on more favorable terms;

• All risks and rewards (income) from the use of such property are transferred to the lessee.

The lessee is recognized as a legal entity or a citizen registered as an individual entrepreneur who receives the property for use under a leasing agreement for a fee.

The seller of leased property is the manufacturer or other legal entity, or a citizen selling the property that is the object of leasing.

The organization for the purposes of carrying out leasing operations must have a license, paying for its receipt a license fee of $ 1,000. From the moment of its registration, it becomes a lessor.

In the market of leasing services as a lessor are:

• financial leasing companies;

• brokerage leasing companies;

• banking organizations;

• insurance pension funds;

• branches of industrial corporations and banks engaged in leasing services

• specialized (service) leasing companies that focus their activities on a narrow market segment, supplying equipment of a certain type, as a rule, to small businesses.

Article 670 of the US Civil Code treats the lessee and the lessor as joint creditors in the relationship with the seller.

It should be noted that the joint responsibility for the lessee comes only after the transition to it the risk of accidental loss or accidental damage to property. The said circumstances, as well as the consequences resulting from the failure to fulfill the payment obligations, come from the date of transfer of the leased property to it, unless otherwise stipulated by the financial lease agreement. At the same time, for the lessor, these circumstances entail responsibility to the seller at an earlier stage.

The joint responsibility of the lessor and lessee in relation to the seller is not directly between the first parties to the transaction, unless otherwise provided by the contract. Nevertheless, such a situation does not exclude the calculated relationships of these participants as accounting objects. Moreover, if under a financial lease agreement, responsibility for the choice of the seller is assigned to the lessor, the obligations arising from the contract of purchase and sale become the object of accounting. The whole issue is reduced only to the extent to which the tenant deems it necessary to present these obligations to the seller and the landlord.

Leasing operations provide for the possibility of paying for the purchased property in parts during the term of long-term lease. At the end of this period, the property is redeemed in accordance with the terms of the agreement with the transfer of ownership to the new owner - the lessee or returned to the previous owner - the lessor.

According to the validity period, the following are distinguished:

long-term leasing - carried out for three or more years;

medium-term leasing (high) - for a period of one and a half to three years;

short-term leasing (rating, devil) - for a period of less than one and a half years.

Property of the lessee is property if it is fully depreciated during the term of the agreement and is not otherwise stipulated in the contract.

Along with financial leasing, we distinguish between the return and the operational.

Return leasing is a kind of financial leasing. Here the seller (supplier) of the subject of leasing is also a lessee. This option takes place when the leasing company acquires property from the manufacturer, arrives at its balance sheet and subsequently transfers it to the enterprise under the contract with subsequent reimbursement in the form of a rent. The object after this becomes the property of the buyer.

Operative leasing assumes that after the lessee has paid the full amount under the contract, the leased asset is returned to the lessor. The latter does not lose ownership of this object, in connection with which it can be leased several times to the full repayment of its value. Therefore, the transfer of ownership of the object of leasing can be executed on the basis of a contract of sale.

Regardless of the type of leasing in the lease agreement, various additional services (installation, installation and commissioning, commissioning, post-warranty maintenance and repairs, etc.) can be envisaged.

The main requirements for the leasing agreement:

• the lessee, unless otherwise provided by the contract, has the right to choose the lessor in determining the leasing object;

• the leasing asset is acquired only by the lessee for the purpose of entrepreneurial activity;

• the lessor acquires leased property from the seller of this property only on the terms of its transfer to a finance lease to the lessee. At the same time, the seller can be not only the manufacturer, but also any commercial organization;

• the period for which leasing is provided, should not exceed the life of the object, than the timely compensation for its obsolescence is stimulated. Moreover, the lessee is allowed, if it is not stipulated by the contract, to apply the mechanism of accelerated depreciation;

• the amount of payment for leasing must compensate for the original value of such property on the date of the contract, regardless of its terms, taking into account the transfer of ownership to the new owner or return to the lessee. It is not excluded and early redemption. The restriction may be only one condition: the repeated re-registration of the contract for leased property during its regulatory lifetime is excluded. The content of the finance lease, as we see, has much in common with long-term lease by terms, terms of fulfillment of obligations stipulated by the agreement in the part of transfer of ownership to the new owner, etc. The difference is manifested in the number of participants in the transaction. In the long-term lease, there are two, and financial - three. Some differences are related to the conditions of operation of leased property.

For a lessor, the provision of services represents the continuation of direct investments, which the lessee must compensate in any material or monetary form, and also pay an appropriate remuneration in excess of investment costs. The amount of payment is calculated by the amount of rent payments, the constituent parts of which are:

• the amount that reimburses the full (or close to it) value of the leased property;

• the amount paid to the lessor for the loan that he used to purchase the property under the leasing agreement

• commission to the lessor;

• in the case of property insurance - the amount of insurance compensation;

• Other costs of the lessor provided for in the finance lease.

The lessee will pay off the specified costs from the moment of using the leased property, unless otherwise provided by the leasing agreement.

In the current accounting of the lessor of the leasing operation, if its object is taken on the balance of the original owner, the following reflection is reflected.

The moment of acquisition is considered as a type of capital investment:

DEBIT 08, "Investments in non-current assets" subaccount 08-4 "Acquisition of items of property, plant and equipment", 19 "Value-added tax on purchased valuables subaccount 19-1 "Value Added Tax on the acquisition of fixed assets"

CREDIT 60 "Settlements with suppliers and contractors."

Simultaneously for the amount of the leased item. leasing:

DEBIT 03 "Profitable investments in tangible assets" subaccount 03-1 "Property for renting"

CREDIT 08 "Investments in non-current assets" subaccount 08-4 Acquisition of fixed assets .

Thus, under the debit of account 03 "Profitable investments in tangible assets" the initial cost of the acquired objects is included, which includes the amount of actually incurred expenses for their acquisition and delivery.

The amount of VAT on the acquisition by a lessor of leased property in this situation is deductible:

DEBIT 68 & Tax & Fees Calculations

CREDIT 19 "Value Added Tax on Purchased Valuations."

Repayment of obligations to the supplier:

DEBIT 60 Settlements with suppliers & contractors CREDIT 51 Settlement accounts .

The moment of transfer of property to the lessee is reflected in the internal entry under account 03 "Profitable investments in tangible assets":

DEBIT 03 "Profitable investments in tangible assets" subaccount 03-2 "Property in Lease

CREDIT 03 "Profitable investments in tangible assets" subaccount 03-1 Property for rent .

The next lease payments made by the lessor to the lessee are reflected in the accounting in accordance with the option of generating revenue but shipping:

DEBIT 62 Calculations with buyers & customers

CREDIT 90 Sales subaccount 90-1 Revenue .

The components of leasing payments are:

• depreciation charges;

• payment for using a bank loan;

• remuneration to the lessor for this transaction;

• compensation for additional services of the lessor (installation, consulting on operation of the facility, etc.);

• VAT.

The current costs of the lessor, recorded by him on account 20, "Major production", at the end of the reporting period are written off:

DEBIT 90 Sales sub account 90-1 "Revenue"

CREDIT 20 Primary Production .

The receipt from the lessee of the amount of leasing payments is made as follows:

DEBIT 51 Current Accounts

CREDIT 62 "Settlements with buyers and customers."

Early-accrued depreciation before the expiration of the contract is directly included in the actual cost of services rendered:

DEBIT 90 Sales sub-account 90-2 Cost of sales

CREDIT 02 "Amortization of fixed assets sub-account Depreciation of leased property.

At the end of the term of the contract, the following situations that result from its contents may occur.

1. The contract provides for the return of the leased asset to its original owner, the lessor, without the intention of his subsequent leasing. In this case, the property is put on the balance:

DEBIT 01 Property, Property

CREDIT 03 "Profitable investments in tangible assets" subaccount 03-2 "Property in Lease .

The depreciation accumulated over the period of the property's location at the lessee is transferred to its own sources:

DEBIT 02 "Depreciation of fixed assets sub-account Depreciation of leased property

CREDIT 02 "Amortization of fixed assets sub-account Depreciation of own assets .

2. The lessee buys the property at the end of its validity term. In this case, the lessor shall account for such disposal operations using account 91 "Other income and expenses" on the amount of the transferred subject of leasing to the new owner - the lessee:

DEBIT 91 Other Income & Expenses subaccount 91-2 Other costs

CREDIT 03 "Profitable investments in tangible assets" subaccount 03-2 "Property in Lease .

Simultaneously, the amount of previously charged depreciation for the period of operation is written off:

DEBIT 02 "Depreciation of fixed assets sub-account Depreciation of leased property

CREDIT91 Other Income & Expenses subaccount 91-1 Other revenues .

The amount of the buyout is presented to the lessee:

DEBIT 76 "Settlements with different debtors and creditors" Subaccount 76-3 "Settlements for Dividends Due and Other Revenues"

CREDIT 91 & "Other Income & Expenses subaccount 91-1 Other revenues .

The lessor may transfer ownership of the property to the lessee without exposing the latter to the outstanding part of the lease payments, which means direct losses for him:

DEBIT 99 Profits & Losses

CREDIT 91 & "Other Income & Expenses subaccount 91-9 "Balance of other income and expenses."

There is an early repayment of the leased asset by the lessee. Then, the under-depreciated part of the leased property should be recovered by the lessee-lessee:

DEBIT 62 Calculations with buyers & customers CREDIT91 & Other Other Income & Expenses subaccount 91-1 Other revenues .

For the amount of value-added tax:

DEBIT 91 Other Income & Expenses subaccount 91-2 Other costs

CREDIT 68 Tax & Duty Calculations sub-account Value-added tax calculations

The property at the residual value is written off from the account 03 "Profitable investments in tangible assets":

DEBIT 91 Other Income & Expenses subaccount 91-2 Other costs

CREDIT 03 "Profitable investments in tangible assets" subaccount 03-2 "Property in Lease .

The amount of depreciation for the period of operation is written off to reduce the value of the leased property:

DEBIT 02 "Depreciation of fixed assets sub-account Depreciation of leased property

CREDIT 01 Primary Tools subaccount Disposal of fixed assets .

The financial result for the foregoing transactions on account 91 Other income and expenses is determined by comparing the debit turnover with sub account 91-2 Other costs and the credit turnover under the subaccount 91-1 "Other incomes". The resulting result generates a balance of other income and expenses. The final turns it is written off at the end of the month from the account 91 "Other incomes and expenses", subaccount 91-9 "Balance of other incomes and expenses" to account 99 "Profit and Loss". In the presence of the profit received, a record is made in the account:

DEBIT 91 Other Income & Expenses subaccount 91-9 "Balance of other income and expenses"

CREDIT 99 "Gains and Losses".

If there is a loss, a reverse entry is made. The considered procedure for recording leasing transactions, when the subject of leasing is accounted for on the balance sheet of the lessor, sufficiently fully discloses this variant of the movement of this type of property.

The lessor does not have the right to deduct expenses on capital investments for expenses of profit taxation.

The same operations for the lessee, when the fixed assets are on the balance sheet of the lessor, are recorded in the following way.

Receiving them is shown behind the balance on the debit account 001 & "Leased Fixed Assets". Lease payments are treated as current costs, including them in the cost of products (works, services):

DEBIT 20 Primary Production & quot ;, 25 Total Manufacturing Costs & quot ;, 26 General Costs

CREDIT 76 "Settlements with different debtors and creditors."

Simultaneously for the amount of value-added tax:

DEBIT 19 Value Added Tax on Purchased Values ​​

CREDIT 76 "Settlements with different debtors and creditors."

The return of such property upon the termination of the leasing agreement is shown in the account for the credit of account 001 & "Leased fixed assets."

When the lessee, on the basis of its financial situation, considers it expedient to redeem ahead of schedule the leased property in its use, such payments are considered as future expenses:

DEBIT 97 "Future expenses"

CREDIT 76 "Settlements with different debtors and creditors" subaccount Arrears on leasing payments

In the future, these amounts are included in equal parts in equal parts over the next accounting periods:

DEBIT 20 "Basic Manufacturing", 23 "Auxiliary Manufacturing" and so on

CREDIT 97, "Future expenses".

At the same time, the property that is accounted for as a balance sheet but to the extent of redemption is subject to closing on the credit of account 001 Leased Fixed Assets and incorporation into own fixed assets:

DEBIT 01 Primary Tools subaccount 01-1 Own fixed assets

CREDIT 01 Primary Tools subaccount 01-2 Property leased .

All additional costs of the lessee but its entry into the owner's rights are considered in excess of the amount of lease payments and are accounted for as part of capital investments:

DEBIT 08 "Investments in non-current assets"

CREDIT 76 "Settlements with different debtors and creditors."

In the future, they are added to the previously purchased value of leased property and in the total amount are included in the structure of own fixed assets:

DEBIT 01 Property, Property

CREDIT 08 "Investments in non-current assets."

Acquisition of property for the purpose of its subsequent provision in leasing is essentially a long-term investment of the lessor. Therefore, in accounting for this fact of economic life should be reflected in the record:

DEBIT 03 "Profitable investments in tangible assets" subaccount 03-1 "Property for renting"

CREDIT 08 "Investments in non-current assets" subaccount 08-4 Acquisition of selected items of property, plant & equipment.

Leasing of this property:

DEBIT 91 Other Income & Expenses subaccount 91-2 Other costs

CREDIT 03 "Profitable investments in tangible assets" subaccount 03-1 Property for Lease & quot ;, 98 Deferred Income .

Leasing payments to the lessee on the value of the transferred property are treated as a process of forming other incomes:

DEBIT 76 "Settlements with different debtors and creditors" subaccount "Lease payments arrears CREDIT 91 & "Other Income & Expenses subaccount 91-1 Other revenues .

Obligations to the budget for VAT are reflected in the usual way:

DEBIT 91 Other Income & Expenses subaccount 91-2 Other costs

CREDIT 68 Tax and Duty Calculations sub-account Value-added tax calculations .

For the amount of current leasing payments received:

DEBIT 51 Current Accounts

CREDIT 76 "Settlements with different debtors and creditors" subaccount Arrears on leasing payments

Simultaneously, the amount of income for leased property in the share relating to the reporting period is reflected in the entry:

DEBIT 98 & "Deferred revenue subaccount 98-1 "Gain on future periods"

CREDIT 91 & "Other Income & Expenses subaccount 91-1 Other revenues .

The generated income by the reporting date is adjusted based on the amount of current costs for a given period. The very magnitude of these costs, accounted for by the debit of account 20 "Basic production", is written off at the end of the month by posting:

DEBIT 91 Other Income & Expenses subaccount 91-2 Other costs

CREDIT 20 Primary Production .

Comparison of turnover on debit and credit account 91 "Other income and expenses" sub-accounts 91-1и91-2 determines the result by subaccount 91-9 "Balance of other incomes and expenses".

If this result is positive, i.e. there is a profit from such operations, the record is made:

DEBIT 91 Other Income & Expenses subaccount 91-9 "Balance of other income and expenses"

CREDIT 99 "Gains and Losses".

In the event that a loss occurs, an accounting entry is made in the accounting:

DEBIT 99 Profits & Losses

CREDIT 91 & "Other Income & Expenses subaccount 91-9 "Balance of other income and expenses."

The return of leasing property by the lessee to its owner with the fully paid-off value for the period of the contract validity shall be accepted by the lessor in the conditional assessment - 1 ruble:

DEBIT 03 "Profitable investments in tangible assets" CREDIT 76 "Settlements with different debtors and creditors"; subaccount Arrears on leasing payments

If the object has not fully paid its value for the period of the contract, then it returns to the balance at the residual value after the return.

Redemption by the lessee of the property operated by it under the concluded contract, at the end of its validity period, gives the basis to the lessor to write off this object from the off-balance account 001 "Leased Assets."

In the event that the lessee takes into account the property taken under the leasing agreement on its balance sheet, a record is made in the accounting records for the amount of the received property:

DEBIT 08, "Investments in non-current assets" subaccount 08-4 Acquisition of property, plant and equipment under a leasing agreement

CREDIT 76 "Settlements with different debtors and creditors" subaccount Lease commitments .

At the end of the corresponding procedures related to the acquisition of leased assets, the lessee will pay his balance:

DEBIT 01 Primary Tools subaccount Leased Property

CREDIT 08 "Investments in non-current assets" subaccount Acquisition of items of property, plant and equipment and leasing agreement.

Lease payments presented for redemption are treated as current liabilities of the lessee in the context of the corresponding sub-accounts under account 76 "Settlements with different debtors and creditors":

DEBIT 76 "Settlements with different debtors and creditors" subaccount Lease commitments

CREDIT 76 "Settlements with different debtors and creditors" subaccount Arrears on leasing payments

The lessee replaces the current obligations in the amount and within the terms determined by the leasing agreement:

DEBIT 76 "Settlements with different debtors and creditors" subaccount & "Debt to leasing payments

CREDIT 51 Settlement accounts .

Depreciation of leased property is reflected in the accounting of the lessee in the usual manner and is considered as part of current costs.

He has the right to accrue depreciation on the inseparable improvements of the object during the duration of the contract, made by him at his own expense. The basis for the application of this rule is the observance of two conditions: • the consent of the lessor for the conduct of the works by the lessee;

• The costs incurred are not compensated by the landlord.

Depreciation is terminated at the end of the lease term. The return of this property to the previous owner in connection with the termination of the leasing agreement does not add anything to the generally accepted method of writing-off of fixed assets, i.е. this transaction is reflected in the account of the lessee using account 91 "Other income and expenses."

The operation to buy out the property of the lessee with the subsequent setting of this object on the balance sheet is considered as an increase in own fixed assets:

DEBIT 01 Primary Tools subaccount Own fixed assets

CREDIT 01 Primary Tools subaccount Leased Property .

The same procedure applies to the accrued depreciation amount for the period of using the property under the leasing agreement:

DEBIT 02 "Depreciation of fixed assets sub-account Depreciation on property leased

CREDIT 02 "Amortization of fixed assets sub-account Depreciation of own assets .

In case of early repurchase by the lessee of the leased property, the entire amount of the repurchase is reflected in the accounting record:

DEBIT 76 "Settlements with different debtors and creditors" subaccount Lease commitments

CREDIT 76 "Settlements with different debtors and creditors" subaccount Arrears on leasing payments

Simultaneously, the amount of depreciation is added:

DEBIT 97 "Future expenses"

CREDIT 02 "Depreciation of fixed assets."

In the future, the amounts recorded under account 97 "Expenses of future periods" in equal parts during the term of the leasing agreement are included in the costs of production (circulation):

DEBIT 20 "Basic Manufacturing", 23 "Auxiliary Manufacturing" and others

CREDIT 97, "Future expenses".

The considered options for the receipt of fixed assets in the organization show a variety of options for their accounting. Nevertheless, if this feature is common to all options, if it relates to real estate, is that the latter can not be taken to the balance sheet before the date of state registration. Therefore, prior to the formalization of ownership of individual objects, they continue to be recorded in account 08 "Investments in non-current assets". If one of the participants, for example, under the contract for the sale of real estate, evades the state registration of the transfer of ownership of real estate, the court is entitled, at the request of another participant, to make a decision in favor of the applicant specifying compensation for damages caused by the delay in registration.

Under the contract for the sale of real estate (buildings, structures, etc.), simultaneously with the transfer of ownership rights to them, rights are also transferred to that part of the land plot that is occupied by such objects and is necessary for their use. This approach is also possible if the land plot belongs to another owner. The consent of the latter is not required if this does not contradict the conditions of use of such a site established by law or contract.

The price of the acquired property should include the price of the relevant part of the land plot or the nature of it, unless otherwise provided by law or the contract for the sale of real estate.

The date of recognition of state registration of real estate objects, taking into account the features considered, is the date of entering them into the Unified State Register of Rights to Real Estate and Transactions with it.

State rental is also subject to the lease of buildings and structures, if its term under the lease is set at least a year. Observance of this condition gives grounds to consider the lease contract, the subject of which is the said property, prisoners.

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