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Fixed assets by point (1)

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First, the initial measurement

1, outsourcing:

(1) The acquisition cost of purchased fixed assets includes all expenses reasonably necessary before reaching the expected usable status.

(2) The value-added tax on purchased fixed assets can be deducted at one time, but the purchased real estate assets under fixed assets or the real estate construction projects acquired after May 1, 2016 shall be subject to the input tax. Deducted from the output tax for 2 years, the first year's deduction ratio is 60%, and the second year's deduction ratio is 40%.

(3) Instalments with financing nature are accounted for at present value. The difference between long-term payables and present value is included in unrecognized financing expenses. Depreciation is normally made at a later stage, and unrecognized financing charges are transferred to financial expenses according to the discount rate.

Borrow: fixed assets (present value)

Unconfirmed financing charges (difference)

Loan: long-term payables (total contract payment)

Borrow: manufacturing cost / management fee

Credit: accumulated depreciation

Borrow: Financial expenses (current value of fixed assets * discount rate)

Loan: Unconfirmed financing charges

PS: Because the tax law does not recognize the discount factor, the tax base (the total contract price) at this time will be different from the book value, but because the acquisition of fixed assets is not a business combination, and the initial recognition does not affect the accounting profit or the impact. Taxable income, so do not confirm the deferred income tax (just look at it, this will not be tested).

2, self-built:

(1) The necessary expenses incurred before the construction of the asset is ready for its intended use, including the borrowing costs that should be capitalized during construction (in connection with the capitalization of borrowing costs).

(2) The raw materials used for the construction of real estate will be transferred out of 40% of the input tax and deducted in the thirteenth month.

(3) Fixed assets with financing nature. Installed fixed assets are basically the same as those for outsourcing, but the unrecognized financing expenses during construction are allocated to the construction in progress, and transferred to fixed assets after reaching the expected usable status. After the scheduled usable status, the unrecognized financing charges are allocated to the financial expenses.

Borrow: Construction in progress (current value)

Unconfirmed financing charges (difference)

Loan: long-term payables (total contract payment)

Borrow: Construction in progress (present value of construction in progress* discount rate)

Loan: Unconfirmed financing charges

After reaching the intended usable state

Borrow: fixed assets

Loan: Construction in progress

Borrow: manufacturing cost / management fee

Credit: accumulated depreciation

Borrow: Financial expenses (current value of fixed assets * discount rate)

Loan: Unconfirmed financing charges

3. Fixed assets acquired by other means

(1) Investor input, first at the contract price, the contract price is not fair at the fair value.

(2) For the exchange of non-monetary assets, first of all, the fair is exchanged, the second is exchanged for fairness, and finally the book is exchanged.

(3) Debt restructuring, fair entry, and the difference between accounts receivable and non-operating income.

(4) Business combination, business combination under the same control is accounted for at book value; business combination not under the same control is accounted for at fair value.

4. Investment real estate is converted into fixed assets:

(1) Measurement of cost model, accounted for according to the book value of investment real estate, and other subjects are converted one by one.

Borrow: fixed assets (investment real estate book value)

Accumulated depreciation of investment real estate

Loan: Investment Real Estate

Accumulated depreciation

(2) Fair mode measurement is carried at fair value on the date of conversion. The difference between fair and book is included in profit or loss from changes in fair value.

Borrow: Fixed assets (converted fair value)

Loan: Investment Real Estate - Cost

- Changes in fair value (previous accumulated changes in fair value)

Gains and losses from changes in fair value (the difference between fair and book on the date of conversion)

5. Disposal costs:

For fixed assets with disposal expenses, the abandonment expenses are included in the fixed assets according to the present value, and the estimated liabilities are recognized according to the present value. The financial expenses and estimated liabilities are recognized annually according to the actual interest rate. When the disposal expenses are finally incurred, the estimated liabilities are written off.

Borrow: Fixed assets (present value of abandoned expenses)

Loan: estimated liabilities

Borrow: Financial expenses (current value of abandoned expenses * discount rate)

Loan: estimated liabilities

When the actual disposal cost occurs

Borrow: estimated liabilities

Credit: Bank Deposit / Accounts Payable

6. Purchase after the financial lease expires

Borrow: Long-term payables - payable financing leases (paid purchase price)

Credit: bank deposit

Borrow: Fixed assets - fixed assets for production

Loans: Fixed assets - financing leased fixed assets

7. Fixed assets related to government subsidies

(1) Total amount method

1 When receiving government subsidies

Borrow: bank deposit

Loan: deferred income

2 purchase of fixed assets

Borrow: fixed assets

Credit: bank deposit

3 depreciation and deferred income

Borrow: manufacturing cost / management fee

Credit: accumulated depreciation

Borrow: deferred income

Loan: Other income / non-operating income

4 Retire in advance, the remaining deferred income will be transferred to the current profit and loss.

Borrow: fixed assets cleanup

Accumulated depreciation

Loan: Fixed assets

Borrow: Non-operating expenses (disposed in advance, so you cannot use assets to dispose of profits and losses)

Loan: Fixed asset cleanup

Borrow: deferred income

Loan: Non-operating income

(2) Net method: The subsidy is offset against the book value of the relevant assets. The enterprise depreciates or amortizes the relevant assets according to the asset value after deducting the government subsidy.

1 When receiving government subsidies

Borrow: bank deposit

Loan: deferred income

2 purchase of fixed assets

Borrow: fixed assets

Credit: bank deposit

Borrow: deferred income (all offset)

Loan: Fixed assets

(3) The government allocates fixed assets without compensation: the fixed assets and deferred income are recognized at fair time when they are acquired, and the deferred income is included in profit or loss (similar to depreciation) in later stages, but if it is a government subsidy measured at a nominal amount (1 yuan) When it is acquired, it is included in the current profit and loss.

1 when acquired

Borrow: fixed assets

Loan: deferred income

2 follow-up measurement

Borrow: deferred income

Loan: Other income / non-operating income

Borrow: manufacturing expenses

Credit: accumulated depreciation

8. Accounting by the government and non-profit organizations

(1) Obtained by outsourcing

Borrow: fixed assets

Credit: bank deposit

At the same time, in budget accounting:

Borrow: business expenses / administrative expenses / operating expenses

Loan: Fund balance - monetary funds

(2) Donation

Borrow: fixed assets (related credentials + taxes, transportation fees)

Credit: bank deposits (taxes, transportation fees)

Donation income (balance)

At the same time, in budget accounting:

Borrow: Other expenses (taxes, transportation fees)

Loan: Fund balance - monetary funds

(3) Free transfer

Borrow: fixed assets (related credentials + taxes, transportation fees)

Credit: bank deposits (taxes, transportation fees)

Impermanent allocation of net assets (balance)

At the same time, in budget accounting:

Borrow: Other expenses (taxes, transportation fees)

Loan: Fund balance - monetary funds

The knowledge points related to the initial measurement of fixed assets are basically here. Fixed assets are a more important chapter. They are the basis of various complicated chapters. Here, I will help you to sort out relevant knowledge points. Looking back, if you feel that there is a strange place in this article, you still need to review the corresponding knowledge points.

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