What are fixed assets and how to define them? One of the conditions is the purpose of the object for use for a period exceeding 12 months. And not just its use, but the use of fixed assets for the organization to obtain economic benefits (income). That is, to obtain the expected amount of products, goods (works, services).
How the term is determined in tax accounting, everyone knows - according to the classification of fixed assets. But to the question of how this period is determined in accounting, many will answer - from technical documentation or according to the same classification. There is no information about the period during which an asset as part of a fixed asset is ready to bring economic benefits to a single organization in the classification of fixed assets and technical documentation.
Remember what fixed assets are and the procedure for determining their useful life will help PBU. Many are accustomed to determining the term according to the OS classification used for tax purposes. The goal is to make no difference with accounting. But economically, this is not entirely true. And if the organization intends to leadaccurate accounting, then consider the following when determining the period of use.
Property that does not require installation, and other property intended not for resale, but for use, are accounted for on account 08 until the initial cost is fully formed. And only after the cost is formed, it is transferred to account 01.
Remember that fixed assets cannot be taken into account in the balance sheet without account 08. Otherwise, the uniformity of accounting will be violated. After all, the accountant needs to determine whether the object is ready for use or not. In addition, according to the turnover of account 08, the organization can determine the amount of capital investments. This indicator is quite popular in financial statements. Determining the amount of capital investments without using account 08 will be much more difficult and more risky in terms of making possible mistakes.
What are fixed assets that were sold after being used in another organization? Real estate is accepted as part of fixed assets in the same way as other fixed assets, provided that all four mandatory conditions provided for by PBU are met. It is often said that only after registering the ownership of real estate can it be accepted as fixed assets of the enterprise. This is not true. In PBU there is no such obligatory condition for taking into account the fixed assets as the ownership of an object.
The receiving party can already use the acquired property, since the objecttransferred at the will of the seller. And the condition for accepting an asset as part of the fixed assets is not the actual use, but the intended use.
This approach is also safe for tax purposes. In tax accounting, in order to accept property as fixed assets, documentary evidence of the submission of documents for state registration is required.
Therefore, in accounting we will take into account real estate on the date of the deed of transfer, and in tax accounting - on the date indicated in the receipt of receipt of documents. If the month of acceptance for accounting of real estate differs from the month of acceptance in tax accounting, a difference will occur. This completes the answer to the question of what fixed assets are.
