What are accounting objects?
Accounting objects: new terms
Instead of the term "property" in the new Law the term "asset" is used. At first glance, this is a minor change. But in fact, the difference in content is very large. Property - these are objects of accounting, which exist regardless of whether there is any control. But the asset is not a real object of the real, but a way of presenting information in the financial statements. A prerequisite for the recognition of an asset is the ability to generate income in subsequent years.
Subject and objects of accounting
Of course, most often the presence of property indicates that the organization has an asset. And vice versa - in most cases, the recognition of an asset indicates the presence of property. But this is not always the case. For example, a deferred tax asset and business reputation are not property. And it also happens that the organization has property, but it cannot be recognized as an asset.Note that, according to the relevant Accounting Regulations, it is the assets that are reflected in the financial statements, and not the property. Let's say the plant has an OS - an old, worn-out shop building. Production in it is suspended, and it is not planned to resume it. Sale is also impossible. The management makes the decision on dismantle. Dismantling is scheduled for 2014. Up to this point, the company will bear the cost of heating, water supply and security. But the residual value of the building must be written off in expenses. Because the balance sheet does not reflect the organization’s assets, but assets. If the property does not bring benefits - it is not an asset. Because from this moment the building ceases to participate in the production process, despite the fact that until the end of dismantling it remains property and the organization continues to own the property with all the consequences associated with the maintenance of the property object.
Subject and method of accounting
The next change in the composition of the objects of accounting: instead of business operations now appeared the definition of the facts of economic life. At once, we say that the absence of the term "business operations" does not mean that they are no longer reflected in the accounting. Just the definition of "facts of economic life" is somewhat broader.They are divided into volitional and event.
Accounting objects: comparison of old and new laws
In the old Law 129-FZ, it was stated that only business transactions are the object of accounting, events were not discussed. And now the Federal Law N 402-ФЗ tells us: in accounting, the influence of all factors of economic life, on which the financial position of the organization depends, must be reflected. Otherwise, the reporting of the organization will not give the user complete information about its financial condition. That is why in Russian accounting there are more and more norms prescribing to reflect the impact of events. One of such rules is the rule about depreciation of fixed assets, it is supposed to be included in the new Accounting Regulations 6. A similar provision exists in IFRS.