The main balance sheet assets include assets,used in the production of any product, in the provision of domestic or industrial services, the implementation of specialized works. They also include assets used for short-term rent for a fee.
The fixed assets are divided into two largegroup. In the first group, the assets are from account 01, and the second group of assets is assets from account 03. Each of these groups has its own function. The fixed assets used in production are accounted for in accounting records on account 01. Assets used for short-term or long-term leases are accounted for in accounts department on account 03. All assets of an economic entity are distributed in accordance with their useful terms of use and is divided into the following depreciation group of fixed assets.
The term of production use for anyobject of the basic assets (fixed or intangible) is calculated based on the period during which these objects will be used in the economic and production activities of the enterprise or organization. This period is calculated and approved by the enterprise independently in accordance with approved accounting regulations, including strictly regulated depreciation groups of fixed assets approved by the government of the Russian Federation.
Classification of fixed assets by depreciationgroups consists of ten main sections, each of which includes assets included in the general list of the Russian classifier of fixed assets. These are industrial buildings and structures; machines for workers and power equipment, computers and transport, production tools and working stock breeding, plantations and capital investments, objects of natural use and land.
The first group includes the property of the organization (machinery and equipment) with a period of practical production use one to two years.
In the second group is the property of the enterprise- Machines and equipment used in the production activities of the organization for regulatory periods of two to three years. This includes sports (household and production) equipment and perennial plantations (strawberries).
The third group includes machinery and industrial equipment, implements, structures and transmission mechanisms (devices), transport used in terms of three to five years.
In the fourth group, the use of propertyare five to seven years. This includes: buildings, transfer devices and structures, equipment and production machines. And also vehicles (cars and trucks, tractors, buses and trailers), perennial plantations (ashberry, orange and lemon), inventory (multifunctional packaging).
In the fifth group, the period of use is seven to ten years, in the sixth group from 10 to 15 years.
The seventh group includes funds with a period of use from 15 to 20 years. In the eighth group, the useful life is from 20 to 25 years, in the ninth group - from 25 to 30 years.
The tenth group includes items of fixed assets,subject to exploitation for a period of more than three decades. We note here that the classification of fixed assets included in depreciation groups, contains the same ten groups of objects of fixed assets (funds) and is strictly regulated by the government of the Russian Federation.
For the purposes of proper taxation, fixed assets in accounting have three valuation values: initial, restorative or residual.
The initial value of the basic assets includes all costs associated with their acquisition, manufacture, delivery and bringing to operational status.
The recoverable amount includes the original cost and revaluation.
Residual value is formed from replacement cost less accrued depreciation.
Depreciation groups of fixed assetsdiffer in the norms of wear, which depend on the most used object. Corrective (up-or-down) coefficients can be applied to depreciation (depreciation) norms.
To calculate the amount of depreciation under the RF Tax Code, business enterprises have the right to use a linear or non-linear method.
With the linear method of determining for all groups of fixed assets, the standard wear coefficient is calculated as its initial (replacement) value and its useful life.
With a nonlinear method of determining the depreciation groups of fixed assets have a the following wear coefficients. Group № 1 - coefficient 14.3, № 2 - 8.8. And further № 3 - 5,6, № 4 - 3,8, № 5 - 2,7, № 6 - 1,8, № 7 - 1,3, № 8 - 1, № 9 - 0,8 and № 10 - 0.7.
