Planning and accounting of fixed assets and other assets. Accounting Methodology

In this section, you will learn about the specifics of asset planning - how assets are grouped in business plans, what depreciation methods are used in accounting and tax accounting (with simple examples), what depreciation groups are used in the non-linear method, how to calculate deferred tax, property tax and etc.

To simplify planning, it is recommended that assets be grouped – according to the useful lives or methods of depreciation, the cost or other criteria. Fixed assets, intangible and investment assets, in accordance with the logic of business planning, also identified as a separate group, which appear in the financial statements and are calculated separately.

Methods in accounting.


Linear method.

In the linear method of depreciation, the annual amount of depreciation is determined based on the initial cost or current (replacement) cost (in the case of revaluation) of the item of fixed assets and the depreciation rate calculated on the basis of the useful life of this object.

The amount of depreciation accrued for one month is calculated as the product of its original value and the depreciation rate determined for the given object.

The amount of depreciation for the month is determined by the formula:



Amortization amount of the asset (months)

=

Initial (current market) asset value

:

Useful life of the asset (months)



Example.  The value of the asset is 260 000. The useful life of the asset is – 5 years. Hence, the annual depreciation rate is 20% (100%: 5 years), the annual amount of depreciation is = 52 000 (260 000 : 5 or 260 000 х 20 : 100). Accordingly, the monthly depreciation amount is ≈ 4 333 (52 000 : 12).



Method diminishing balance.

The method of decreasing balance for determining the useful life is established in the case when the efficiency of the use of the fixed asset object decreases with each subsequent year.

The annual amount of depreciation is determined on the basis of the residual value of the item of fixed assets at the beginning of the reporting year and the depreciation rate calculated on the basis of the useful life of this facility and the coefficient not exceeding 3 established by the organization. The value of the accelerated coefficient is set by the user. The default value is 2 .

For example, suppose that an organization uses a factor that is twice the depreciation rate for a linear method (the method of double reduction of the balance). Then, if the useful life is 5 years, the coefficient is:


K = 2/5 = 0,4 (i.e., the depreciation rate = 40%)


Example.  The value of an asset 260 000. The useful life of an asset 5 years. So-so depreciation will be:


1 year: 104 000 (260 000 × 40%),
2 year: 62 400 (156 000 × 40% t. to. 260 000 - 104 000 = 156 000),
3 year: 37 440 ( 93 600 × 40% t. to. 156 000 - 62 400 = 93 600),
4 год: 22 464 ( 56 160 × 40% t. to. 93 600 - 37 440 = 56 160),
5 год: 13 478 ( 33 696 × 40% t. to. 56 160 - 22 464 = 33 696).


Period for 5 years will be 239 782. Liquidation value (non-depreciable balance) will 218 20 (260 000 - 239 782).


Cumulative method.

This method is also known as the method of writing off of cost on the sum of the numbers of years useful life. In this method, the annual depreciation rate is determined based on the original cost of the asset annual factor calculated from the ratio: in the numerator – the number of years remaining until the end of the lifetime of the object in the denominator is the sum of the numbers of years of useful life.

Example.  The value of an asset 260 000. The useful life of an asset 5 years. The sum of the numbers of years of beneficial use will 1 + 2 + 3 + 4 + 5 = 15, respectively:

For example, if the useful life is 5 years, then the sum of the useful life years is 1 + 2 + 3 + 4 + 5 = 15, respectively:


Coefficient for 1 year: К = 5/15, Annual depreciation = 260 000 × К = 86 667,
Coefficient for 2 year: К = 4/15, Annual depreciation = 260 000 × К = 69 333,
Coefficient for 3 year: К = 3/15, Annual depreciation = 260 000 × К = 52 000,
Coefficient for 4 year: К = 2/15, Annual depreciation = 260 000 × К = 34 667,
Coefficient for 5 year: К = 1/15, Annual depreciation = 260 000 × К = 17 333.

Accordingly, depreciation for 5 years will be: 86 667 + 69 333 + 52 000 + 34 667 + 17 333 + 260 000.


Proportionally to production volume.

Depreciation is charged in proportion to the amount of work performed (it is necessary to know the volume of production). With this method, amortization is calculated on the basis of the natural indicator of the volume of products (works) in the reporting period and the ratio of the initial value of the fixed asset and the estimated volume of output (work) for the entire useful life of the fixed asset.

The coefficient can be different in each period. And it's natural, for example, the mileage of a car, as a rule, is different in each period. However, you need to take into account that the program uses the planned indicators, therefore, you need to specify the average monthly percentage of depreciation .

Example.  Let, the estimated mileage of the car 400 000 km and the average vehicle mileage – 8000 km Then the percentage of wear for the month: 8000 / 400 000 x 100% = 2%. So, in the "Average volume %" set the value 2.

☛ Note that the planned values can be corrected according to the actual indicators via PAD or in the "Adjustment table".




Methods in tax accounting.


Linear method.

The linear method in tax accounting is essentially similar to the same method in accounting, with the difference that the use of the accelerated coefficient is additionally permitted. The value of the special (accelerated) coefficient is set by the user. The usual coefficient is calculated by the formula:


K = (1/n),

Where:
K – depreciation rate.
n – useful life, in months.

Respectively:



The amount of depreciation of the asset (months)

=

Initial (current market) cost of an asset

×

K




Nonlinear method.

In the case of the non-linear method, several variants of the choice of the design coefficient are proposed:


1. Use default default factor:

K = (2/n),

Where:
K – depreciation rate.
n – useful life, expressed in months.


2. Use depreciation rates for the current depreciation group, set in the settings.
To do this, set the flag "Use the metric by group" (see "Depreciation groups").


3. Use the accelerated ratio.
The value of the special (accelerated) coefficient is set by the user.

All depreciable fixed assets merged into ten depreciation groups. In order to apply the linear method of calculating depreciation, the following depreciation rates:

The essence of deferred taxes.

IFRS 12 considers a reflection in the financial statements of both the current tax (the obligation to pay which occurred in the current period) and deferred tax (the obligation to pay which will occur in subsequent periods).

The main reasons for the occurrence of deferred taxes, which are discussed in this section, are two: these are different estimates of accounting and the use of different methods of depreciation in accounting and tax accounting.

The term "deferred taxes" includes deferred tax asset (Deferred tax asset) and deferred tax liability (Deferred tax liability). In the first case ( Deferred tax asset ) - the amount of profit tax, recoverable in future periods due to deductible temporary differences. In the second case ( Deferred tax liability ) - this is the amount of profit tax, payable in future periods in connection with taxable temporary differences.

When permanent differences arise, permanent deferred taxes arise, respectively, permanent tax assets or liabilities , which lead to a decrease (increase) in profit tax payments in the current period.

Calculation of deferred taxes.

In the program, "deferred taxes" are reflected in the line "Profit and Loss Statement" [20] "Deferred tax expenses" and in the balance line [21] "Deferred taxes". The program calculates "deferred taxes" in the following cases:

1. When calculating the profit tax (if the appropriate settings in the settings of the calculation).
2. When calculating assets.
3. When accessing data from the adjustment table (line "Deferred tax expense").

Deferred taxes can arise from difference in accounting and tax accounting. Such differences, it is two: the minuend and taxable. Deductible and taxable differences differences are shown in the table of the accounting of assets in the respective rows:

When deferred taxes are included in the "Profit and Loss statement", these differences are multiplied by the profit tax rate.

Deferred tax assets (Deferred tax asset) arise when the amounts of write-offs in accounting are greater than in tax accounting ( Accounting - Tax accounting> 0 ), respectively, profit in the accounting accounting is less than in the tax accounting, which leads to the appearance of deductible differences. As the deductible temporary differences decrease or fully pay off, the amount of deferred tax assets will be reduced or fully repaid.

Deferred tax liabilities (Deferred tax liability), on the contrary, arise when the write-off amounts in the accounting are less than in the tax ( Accounting - Tax accounting < 0 ), which leads to occurrence of taxable differences. As taxable temporary differences decrease, the amount of deferred tax liabilities is repaid. Deferred taxes are calculated using the formula:

Time difference Tax rate

Deferred tax asset = [–] Time difference × Tax rate.
Deferred tax liability = [+] Time difference × Tax rate.

Deferred tax asset and Deferred tax liability are calculated according to the methodology formalized in IFRS 12 "Taxes on profit":

Deferred tax asset for the period = Deferred tax asset on the date - Deferred tax asset at the beginning of the period.
Deferred tax liability for the period = Deferred tax liability on the date - Deferred tax liability at the beginning of the period.

Example of the "Profit and Loss statement" table, deferred tax assets
are shown in the sink [20] "Deferred tax expense":

Deferred profit tax expense is determined by the amount of changes in the reporting period in the amount of deferred tax assets and liabilities determined by the balance method:

Deferred tax expense

=

Change in deferred tax asset

+

Change in deferred tax liability

Examples of calculations of "deferred taxes", when using different depreciation methods, and in the event of permanent and temporary deductible and taxable differences differences.

The estimated rate of the profit tax – 20%:

Residual value of taxable assets (property)

=

Initial value of assets

−

Depreciation of assets

The average annual value of taxable assets (property)

=

⌈ ⌊

Residual value at the beginning of the year

+

Residual value at the beginning of each month within the reporting period

+

Residual value at the beginning of the month following the reporting period

⌉ ⌋

:

number of months in the reporting period + 1

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