The concept and classification of fixed assets, their valuation.

Date:

2018-03-19 07:31:23

Views:

719

Rating:

1Like 0Dislike

Share:

Table of contents:

In the production process along with the objects of labor are means of labour or, in other words, fixed assets. These include equipment, machinery, inventory (both economical and production) and other means of production through which the activities of the organization. In addition, the consumer durables also include structures and buildings, the transfer device directly on the subject of work is not affected, however, create the required conditions for the realization of the production process.

To generalize groups all long-term assets, classification of assets. All the means of labor of the enterprise in the long period involved in the production, while maintaining its initial cost. But, however, they gradually grow old and wear out, and therefore reflect their value to the newly created product.

The Concept, classification and valuation of fixed assets is very important in accounting. You should know that in order that property could be related to long-term assets, shall be subject to the following two conditions:

  1. Their beneficial use shall be for a term exceeding one year;
  2. Must be complied with the set limit value per unit of the means of labor.

Classification of fixed assets is carried out on the basis of several criteria:

  • In accordance with the type of activity (for example, in engineering there will be some long-term assets in construction are completely different, and trade the third, etc.);
  • The nature of the business (there are production and non-production);
  • Participate in the process of production and circulation, they are divided into active and passive;
  • Belonging to the subject of managing fixed assets can be company-owned or leased;
  • In fact the usage (in use, under construction, in stock, on preservation).

It Should be noted that the concept and classification of fixed assets – it's not all that advisable to know. Like everything else, long-term assets of the organization require proper detailed record keeping. It is aimed at:

Recommended

Insurance for pregnant women when traveling abroad: features, views, and reviews

Insurance for pregnant women when traveling abroad: features, views, and reviews

Currently, in our country there is a huge number of insurance companies that are willing to provide the necessary services at any time. Insurance expectant mothers – is a separate activity that SK are doing very reluctantly. The fact is that pr...

Construction company

Construction company "Rosstroyinvest": feedback from real estate investors. LCD "Old fortress". LCD "Golden domes"

One of the most promising participants in the Russian real estate market, particularly in the joint construction, is the "Rosstroyinvest". Reviews of investors are saying about the leading role of the construction company year of Foundation, in 2002,...

The conditions for obtaining credit in modern banking institutions

The conditions for obtaining credit in modern banking institutions

Any aspiring entrepreneur is faced with the problem of insufficient funding of their own business. Currently, this problem can be solved by knowing the terms of the loan and taking the necessary amount from the Bank. This method is best for solving p...

- monitoring and documenting the movement of funds in the context of individual and groups of objects;

control over their safety and efficient use;

a correct and timely determination of depreciation for inclusion in the costs of production;

- accurate accounting of the liquidation and write-off of fixed assets;

- accurate and timely reflection of the amounts expended in their repairs;

control over the integrity and safety of long-term assets that are mothballed.

Classification of fixed assets stipulates that they can come into the organization from suppliers or as a result of construction. While in the accounting records upon the receipt of money from vendors must be invoice (shipping), and the act of reception-transfer of object (possibly of groups of objects) of fixed assets. If the assets expendable property received by the organization as a result of construction, the acts about acceptance-transfer are drawn up after its completion.

In addition to the above long-term assets of the organization can be classified according to types: tool, vehicle, equipment, perennial plantations, productive and working cattle, and others. It should be noted that the classification of fixed assets according to their types is the basis of reporting on the actual availability of assets of the organization movement.


Article in other languages:

AR: https://www.tostpost.com/ar/cars/7586-what-is-the-exam-in-the-traffic-police.html

BE: https://www.tostpost.com/be/a-tamab-l/13550-shto-zh-uya-lyae-saboy-ekzamen-u-d-bdr.html

DE: https://www.tostpost.com/de/autos/13553-was-ist-eine-pr-fung-in-der-verkehrspolizei.html

ES: https://www.tostpost.com/es/coches/13560-que-es-un-examen-en-el-gbdd.html

HI: https://www.tostpost.com/hi/cars/7592-what-is-the-exam-in-the-traffic-police.html

JA: https://www.tostpost.com/ja/cars/7588-what-is-the-exam-in-the-traffic-police.html

KK: https://www.tostpost.com/kk/avtomobil-der/13553-b-l-b-ld-red-emtihan-gibdd.html

PL: https://www.tostpost.com/pl/samochody/13540-co-to-jest-egzamin-do-policji.html

PT: https://www.tostpost.com/pt/carros/13534-o-que-um-exame-de-pol-cia-de-tr-nsito.html

TR: https://www.tostpost.com/tr/arabalar/13556-nedir-bu-s-nav-traf-k-polisi.html

UK: https://www.tostpost.com/uk/avtomob-l/13550-scho-zh-yavlya-soboyu-spit-v-gibdd.html

ZH: https://www.tostpost.com/zh/cars/8252-what-is-the-exam-in-the-traffic-police.html






Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

Comments (0)

This article has no comment, be the first!

Add comment

Related News

Financial risks insurance in modern business

Financial risks insurance in modern business

Almost every business faces challenges in the conduct of their business. As a rule, they are based on the risks that accompany the entrepreneur. Required special protective mechanisms that will effectively cope with their tasks. O...

How to withdraw money from webmoney

How to withdraw money from webmoney

do you Often use e-wallet from the famous webmoney payment system? If you are on a Network or make any commercial transaction using the electronic wallet, sooner or later the question arises how to withdraw money from webmoney. Th...

Salary cards of VTB 24: design and benefits

Salary cards of VTB 24: design and benefits

In many loan organizations offer relevant today program for payroll customers. For example, one such product operates in a large Russian Bank VTB 24. How to open salary card of VTB 24, connect online banking, overdraft, and much m...

If you do not pay for the repair, what will happen? Mandatory repair of the house

If you do not pay for the repair, what will happen? Mandatory repair of the house

Activities for the repair and maintenance of their apartments and houses, the Russians traditionally assume, only in extreme cases using the services of specialists. Such an attitude to the contents of their own homes is in contra...

Belarusian currency and stock exchange. Markets and auctions, the organization and tendering

Belarusian currency and stock exchange. Markets and auctions, the organization and tendering

a Private organization "Belarusian currency and stock exchange" started on 29 December 1998. It is an open joint-stock company, whose shareholders are the 124 individuals. It is engaged in the provision of services related to the ...

Short-term Deposit at high interest rates. Where the most favorable conditions?

Short-term Deposit at high interest rates. Where the most favorable conditions?

Bank deposits are a way to save your money from the debilitating influence of inflation as well as from thieves who can get under the pillow and steal deferred nest egg.almost all want to place their contribution at high interest ...