What is fixed assets under the law
What is fixed assets and how to define them? One of the conditions is the purpose of the facility for use for a period exceeding 12 months. And not just its use, but the use of OS for the organization to obtain economic benefits (income). That is, to obtain the expected number of products, goods (works, services).
Recall what is fixed assets and orderThe determination of the useful life of these assets will be supported by the PBU. Many are accustomed to determine the term for the classification of the OS used for tax purposes. The purpose - that there was no difference with accounting. But economically this is not entirely true. And if the organization intends to maintain a reliable accounting, then in determining the period of use, consider the following.
Property that does not require installation, and otherproperty not intended for resale but for use is accounted for on account 08 until the initial value is fully formed. And only after the value is formed, it is transferred to the account 01.
Remember that to account for fixed assets inbalance without account 08 can not. 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, by the turnover of the account 08 the organization can determine the volume of capital investments. This indicator is quite in demand in the financial statements. Determining the amount of capital investments, not applying the account 08, will be much more difficult and more risky in terms of allowing possible errors.
What are the fixed assets that were soldafter use in another organization? Real estate is accepted into the composition of the OS as well as other other fixed assets when all four mandatory conditions are met, provided for in the PBU. It is often said that only after registration of ownership of real estate it can be taken as the fixed assets of the enterprise. This is not true. In the PBU there is no such mandatory condition for the adoption of accounting of the OS, as finding an object in the property.
The receiving party can already useThe acquired property, because the object is transferred at will of the seller. And the condition for accepting an asset in the OS is not the actual use, but the purpose for use.
This approach is also safe for tax purposes. In the tax accounting for the acceptance of property in the structure of fixed assets it is necessary to document the submission of documents for state registration.
Therefore, in accounting we take into account the immovableproperty on the date of the transfer certificate, and in the tax - on the date specified in the receipt for acceptance of documents. If the month of adoption to the accounting of real estate will differ from the month of adoption in the tax account, there will be a difference. This is the answer to the question of what the fixed assets are, is over.