Long-term investment accounting. The concept of long-term investments and sources of their financing, regulation of their accounting Refers to own sources of long-term investments

In the process of long-term planning and development of a strategy for the investment development of an enterprise, it is of great importance to analyze the structure of capital investments and the sources of their financing.

At this stage of the capital investment analysis, several critical issues are addressed. First of all, the potential for long-term investment is determined based on the availability of appropriate funding. In the course of economic analysis, the optimal structure of sources of financing for capital investments can be found, depending on the economic situation and strategic priorities of the enterprise. A significant place is occupied by a generalizing assessment of the investment development of an enterprise. Based on the results of the analysis, a conclusion is made on the volume and structure of investments, as well as an assessment of capital investments by types of reproduction of fixed assets (PF) is given.

It is recommended to start the analysis with an assessment of the dynamics of the volume and structure of capital investments in estimated prices in the main areas of reproduction of fixed assets. For this purpose, the data of form P-2 "Information on investments" and the appendix to form No. P-2 "Information on investment activities", accounting are used and table is built. 2.1.

For the correct characterization of the data given in table. 2.1, it is important to consider the following conditions. Firstly, it is necessary to include in the total investment volume data on unfinished capital investments (information on the debit of accounts 07 "Equipment for installation" and 08 "Investments in non-current assets) plus the cost of fixed assets introduced in the reporting period (data of form No. P-2 ). Secondly, the volume of investments in fixed assets for the reporting period should be taken in estimated prices.

Table 2.1

Dynamics of the volume and structure of capital investments in fixed assets

Investment direction	At the beginning of the reporting period (year)		At the end of the reporting period (year)		speakers
Investment direction		specific gravity,	investment volume, thousand rubles	specific gravity,	speakers

Replacing the OF
Reconstruction of the processing plant
Modernization of the processing plant
New construction
Purchase and installation of OF,
required by law
Other capital investments
Total capital investments

Evaluating the results of the carried out in table. 2.1 analysis, it can be noted that the enterprise has significantly decreased the total volume of capital investments by 10 829 thousand rubles. (20 354 - 31 183), or 34.7%. The largest decrease in investments in new construction was by 5,078 thousand rubles, or by 68.4%, and in terms of the volume of equipment used for safety, environmental protection and health protection - by 3,272 thousand rubles, or 72 ,4%. An unsatisfactory situation arises due to a decrease in the volume of replaced fixed assets, a decrease in investments amounted to 5317 thousand rubles, or 47.5%. Obviously, due to the lack of funding, the management of the enterprise decided to increase the volume of investments in the reconstruction and modernization of fixed assets, respectively by 6.1 and 56.9%.

In the future, it is necessary to analyze the dynamics of the volume and structure of investments for specific groups and types of fixed assets. It is necessary to study the growth rates of unfinished investments and find out the reasons for their increase. It is necessary to assess the change in the proportion of long-term investments in the active part of fixed assets in the reporting period compared to the previous one.

An important point in the investment analysis is the assessment of the dynamics of funds in terms of the composition and structure of capital investments used for financing. Own funds (amortization of intangible assets and fixed assets, net profit) and borrowed funds (bank loans, targeted financing from the budget, borrowed funds from other enterprises) are used as the main sources of financing. To characterize the dynamics of the composition and structure of sources of financing capital investments, accounting data and table are used. 2.2.

Table 2.2

Dynamics of the composition and structure of financing

Index	Funds used in the previous period (year)	Funds used in the reporting period (year)	Change (+. -)
				structure

Own funds
enterprises
Including:
amortization net profit allocated to finance
investment
Involved funds
Including:
bank loans borrowed funds from others
enterprises
Total long-term
investment

As you can see from the table. 2.2, sources of financing for long-term investments decreased against the previous year by 475 thousand rubles, or by 21.1%. This was mainly due to a decrease in the sources of borrowed funds by 349 thousand rubles, or by 56.2%, including bank loans - by 471 thousand rubles, or by 75.8%. Attraction of funds from other enterprises in the reporting year increased the amount of borrowed funds by 122 thousand rubles.

Own funds allocated to finance long-term investments decreased compared to the previous year by 126 thousand rubles, or by 7.7%. This was due to a decrease in the amount of profit used to finance investments by 182 thousand rubles, or by 25.6%. A positive aspect is the change in the structure of sources of long-term investment towards an increase in the share of own funds by 12.25 points while reducing the share of borrowed funds. In the reporting year, more than 3 of the volume (84.74%) of long-term investment accounted for the company's own funds.

A logical continuation of the assessment of the dynamics of the composition and structure of sources of financing capital investments is to determine the influence of factors on the amount of investments:

? volume of products, works, services;
? the level of tax payments to the budget;
? the share of profits directed to financing long-term investments;
? structure of sources of own funds of financing;
? the amount of funds raised.

An assessment of the influence of factors on the change in the size of sources of financing for investment projects can be carried out using formula (2.1) proposed by L.T. Gilyarovskaya and D.A. Endovitsky, and tab. 2.3.

Table 2.3

Analysis of factors affecting the size of sources of investment financing

The ending

Index	Conditional designations	Previous	Reporting	Absolute deviation (+, -)	speakers,

3. Net profit, thousand rubles.
4. Profit directed to the savings fund to finance long-term investments, thousand rubles.
5. Depreciation of fixed assets, thousand rubles.
6. Own sources of financing for long-term investments, thousand rubles. (p. 4 + p. 5)
7. Amount of sources of financing for long-term investments, thousand rubles.
8. Profitability of products (works, services), coefficient (page 2: page 1)
9. The level of the company's net profit, coefficient (p. 3: p. 2)
10. Accumulation level, coefficient (p. 4: p. 3)
11. Structure of sources of own funds, coefficient (p. 4: p. 6)
12. Structure of sources of financing for long-term investments, coefficient (p. 6: p. 7)

The above indicators make it possible, using the index method, to make an economic calculation of the influence of individual factors on the amount of sources of financing for long-term investments (Table 2.4).

The results of the analysis carried out in the tables show that the decrease in the level of accumulation of the enterprise influenced the decrease in the size of the sources of financing for long-term investments to the greatest extent. The amount of investment financing sources under the influence of this factor decreased by 654 thousand rubles.

Calculation of the influence of factors on the size of sources of investment financing

Table 2.4

Name of factors	The amount of investment sources for the base period, thousand rubles	Coefficient changes indicator	The amount of investment sources, taking into account the change in the indicator, thousand rubles	Influence of individual factors on the amount of investment sources, thousand rubles

Change in the volume of sales of products
Changing the level of savings
Change in the level of taxation
Change in the level of profitability of products
Changing the structure of sources of own funds
Changes in the structure of investment financing sources
General change in sources of investment financing

* 100:80,573- 1,24111. ** 100:116,899 -0,85544.

Under the influence of a decrease in the share of borrowed funds, the size of funding sources decreased by 301 thousand rubles. The decrease in the volume of sold products, works, services and the level of net profit led to a decrease in the amount of financing of capital investments by 141 thousand and 16 thousand rubles, respectively.

An increase in the profitability of products, works, services and a change in the structure of sources of own funds had a positive impact on the amount of financing of long-term investments. When the latter indicator changed, the share of depreciation of fixed assets increased. An increase in the profitability of products (works, services) and an increase in the share of depreciation in the sources of own funds led to an increase in the sources of financing for long-term investments by 232 thousand and 405 thousand rubles, respectively.

Sources of financing for long-term investments in fixed assets are:

Own funds (shares, reinvested profit, depreciation charges, property, etc.);

Borrowed funds (bank loans, bond loans, etc.)

Types of borrowed funds);

Derivative financial instruments:

Long-term financing methods are also varied. They can be:

Direct investments of retained earnings and depreciation;

Issue of shares;

Long-term loans from commercial banks;

Issue of bonded loans;

Mortgage;

Rental financing (leasing);

Project financing;

Venture financing, etc.

Let's consider the essence of individual sources and methods of long-term financing.

Financing at the expense of own funds in the form of profit, depreciation deductions and savings has a number of advantages: the most affordable; does not lead to a change in the existing structure and cost of capital; allows attracting additional loans without changing the ratio of own and borrowed funds; does not cause additional risks of loss of solvency and creditworthiness; does not lead to a change in the form of ownership. But this source of long-term funding is limited by the company's ability to generate income and. therefore, can reduce its investment needs. In addition, own profit is the main source of financing for current activities, including financing of current assets, solving social problems, paying dividends, etc.

The issue of shares is one of the most common forms of financing large investment projects. Share capital can be acquired by issuing (issuing) two types of shares; ordinary and privileged. Their potential buyers can be customers interested in products (goods, services, etc.) produced as a result of the commissioning of the investment object, as well as external investors interested in the return on investment, making a profit or increasing the cost of fixed capital.

Attraction of external sources of financing through the issue of shares has its advantages and disadvantages. The advantages are: the ability to attract large amounts
simultaneously; the amount of dividends and the policy of their payment are determined by the company itself, their amount is not fixed, the company can use dividends for reinvestment; a stable ratio of own and borrowed funds is ensured, and hence the financial risk is reduced. The disadvantages are as follows: rather large funds for the creation and placement of securities; non-payment of dividends leads to a loss of the image and, therefore, the value of the company; attracted new investors have the right to vote, therefore, a controlling or blocking stake in management may be lost, which means that the positions of the company's management are weakened; profits should be distributed to a larger number of participants.

Thus, the additional share issue is considered to be an expensive source of long-term financing. The amount of funds received from the stock market may turn out to be significantly lower than the required value, which depends on the company's rating, the cost of placing shares, the success of the advertising campaign, etc.

Therefore, equity financing is recommended when the company has a high debt-to-equity ratio prior to investing.

The most common form of long-term debt financing of investments in many countries is long-term loans from commercial banks. Financing through loans may be preferable for investments in an already operating organization (besides operating successfully), for example, for expansion, modernization, reconstruction, or to maintain the existing production capacity at the required level. Banks will not demand higher loan fees from such companies due to the low risk. When creating new organizations, implementing new investment projects, attracting a loan is associated with a great risk, since obtaining it necessarily includes a rigid system of payments that ensure the return of principal and interest. Compliance with payment deadlines can be difficult for new organizations.
due to the slow growth of the amount of profit (income). It should be emphasized that the use of a large share of long-term loans creates difficulties in the company: the ratio of borrowed and own funds is violated, which worsens credit and solvency; the cost of borrowed capital increases with the growth of its share in liabilities, and hence the weighted average cost of all capital increases.

In addition, at the moment in the lending market there is such a situation when it is not enough to provide equipment as collateral (collateral); guarantees of third parties or bank guarantees are also required. Large loans require serious justification and transparency.

All this must be taken into account when determining funding sources. In Russia, the cost of long-term loans is quite high, including due to the high refinancing rate. According to published data, Russian banks are currently mainly providing short- and medium-term financing.

Bond loans as a source of debt financing for investments are still of limited use, since only joint-stock companies are capable of issuing bonds, the solvency of which does not raise doubts among investors and creditors. The advantages of bonds as a source of debt financing for investments are:

The ability to attract a large amount of funds;

Using funds not only from the banking sector, but also from other participants in the financial market, attracting small creditors;

The ability to stretch the loan repayment period for a long period;

The legislation of most developed countries allows to reduce taxable profit by the amount of interest on bonded loans;

Issuing bonds is cheaper than issuing shares;

Bonds are less risky than equities.

The main limiting factor in the issue of bonds is the size of the property. The Law “On Joint Stock Companies” establishes that “the par value of all issued bonds must not exceed the size of the charter capital of the company and (or) the amount of security provided for this purpose to the company by third parties” (clause 3, article 33).

In economically developed countries, over 50% of all private investment comes from bonds, while about 5% of investments are financed through the issue of shares. In Russia, the issue of corporate bonds is not yet a significant source of investment.

One of the most important sources of long-term financing in countries with developed market economies is a loan secured by real estate (mortgage). In this case, the owner of the property receives a loan from the mortgagee, and as collateral for the repayment of the debt transfers him the right to preferential satisfaction of his claim from the value of the pledged property in case of refusal to repay (or incomplete repayment) of the debt. The object of collateral can be buildings and structures, houses, land, other types of real estate owned by enterprises and individuals.

There are several types of loans used to finance investments: standard mortgage loan - debt repayment and interest payments are made in equal installments; a loan with an increase in payments - at the initial stage, contributions increase at a certain constant rate, and then are paid in constant amounts; mortgage with a variable amount of payments - during the grace period only interest is paid and the principal amount of the debt does not increase; mortgage with a pledge account - a special account is opened, to which the debtor deposits a certain amount of funds to secure the payment of contributions at the first stage of the project; loan with a reduced rate - a security account is opened by the seller of the supplied equipment. This form of obtaining a loan is currently only gaining popularity in housing construction.

At the moment, leasing is becoming an increasingly popular investment instrument in Russia. This is primarily due to the advantages in taxation, which can significantly reduce the cost of paying property tax and income tax. It is also worth noting that leasing does not require additional collateral, such as a loan. With leasing, this problem practically disappears, since according to the Federal Law "On Financial Lease (Leasing)" dated October 29, 1998 No. 164-FZ, the leased item always remains the property of the lessor, regardless of whose balance sheet is the equipment (the lessor or lessee).

The following basic concepts are used in this Federal Law:

Leasing - a set of economic and legal relations arising in connection with the implementation of a lease agreement, including the acquisition of a leased asset;

Lease agreement - an agreement under which the lessor (hereinafter referred to as the lessor) undertakes to acquire the property specified by the lessee (hereinafter referred to as the lessee) from the seller specified by him and provide the lessee with this property for a fee for temporary possession and use. The leasing agreement may stipulate that the choice of the seller and the acquired property is made by the lessor;

Leasing activity - a type of investment activity for the acquisition of property and its transfer to lease.

The participants in the lease agreement are as follows:

A lessor is an individual or legal entity who, at the expense of attracted and (or) own funds, acquires property in the course of the implementation of a lease agreement and provides it as an object of lease to the lessee for a specified fee, for a specified period and under specified conditions for temporary possession and use ...;

Lessee - an individual or legal entity who, in accordance with the lease agreement, is obliged to accept the leased asset for a specified fee, for a specified period
and under certain conditions for temporary possession and use in accordance with a lease agreement;

Seller - a natural or legal person who, in accordance with the sale and purchase agreement with the lessor, sells to the lessor within the specified time period the property that is the subject of lease ...

Leasing is a financing system that involves elements of lease, secured loan financing, and debt settlement.

You should also pay attention to the possibility of using leaseback (Figure 7.9).

Leaseback is a type of lease in which the lessee and the supplier are one person (subject). Although the Law “On Financial Lease (Leasing)” excludes the concept of leaseback, one and the same person can still act both as a seller of equipment and as a lessee (clause 1 of article 4 of the Law). In other words, in this case only the concept is excluded, but the implementation of this procedure is not prohibited. In its Resolution No. 9010/06 of January 16, 2007, the Presidium of the Supreme Arbitration Court of the Russian Federation concluded that leaseback is a legitimate transaction with reasonable economic motives for both parties, not leading to an unjustified tax benefit.

The company can receive a reasonable financial benefit. So, other things being equal, lease payments may be less than loan payments. This is due to the fact that the leasing company has the right, without a license from the Bank of Russia, to receive long-term loans from non-residents of Russia (for example, from Western banks), and the interest for using a loan in a Western bank is usually significantly lower than in
Russian. If the organization has the equipment necessary for production, but does not have financial resources, it sells the equipment to the leasing company and at the same time leases it. When selling equipment, the organization receives the necessary funds, part of which is used to pay lease payments at the initial stage, and part of it goes to other production needs.

The mechanism of leaseback is reduced to the fact that the owner sells (pledges) the asset on the balance sheet, redeeming it in the future (removing the encumbrance of the pledge).

This is mainly of interest to those companies for which there is a lack of their own resources, for example, for the implementation of long-term investment programs, the purchase of raw materials, etc.

One of the main disadvantages of leaseback (if, of course, the transaction is concluded between independent companies) is that the organization is deprived of its property - after all, under certain circumstances (or rather, in violation of the essential conditions of the lease agreement) the lessor has the right to terminate the lease agreement, and then the leased property will remain with him. Therefore, sometimes it is more profitable for organizations to pay the high costs of a bank loan than to conclude a leaseback agreement and risk their property. In addition, from the amount received for the repurchased property (minus the residual value), you need to pay income tax (20%), if the price of the sale agreement is more than the amount of the book value of the property, and come to terms with the fact that part of the money received will immediately go to budget in the form of VAT in accordance with the Tax Code of the Russian Federation.

First of all, this tool is necessary for structures with a significant investment program. To carry out any investment program, you must have at least 30% of your own funds from the total volume of the program, which must be sent either to the leasing company as an advance payment, or as an advance payment for lending (the bank usually provides no more than 70% of the investment program ).

As a rule, an investment program requires a significant diversion of its own resources. At the same time, in
It is inappropriate for the vestor to divert such a significant amount from the company's turnover. As a solution to such a problem, it is most convenient to use leaseback, which allows not only to attract the amount necessary for investment, but also using the lease payment schedule to maximize the financial condition of the company.

In any case, the choice will remain with the investor, at the same time, given the simplicity of the relationship with the leasing company, the tax shield, and the ability to model not only cash flows, but also the company's profitability, leaseback has significant competitive advantages over lending.

Thus, due to the current situation of a shortage of liquid funds in financial markets, the need to make quick decisions that require a sufficient amount of free funds from the company, leasing is a full-fledged alternative to the existing financial mechanisms.

Project financing in developed countries has been used for a long time. In Russia, this is financing for a specific project, in which the cash flow generated by this project is used as a source of loan repayment and interest on it. Project financing is carried out on the basis of risk accounting and management, risk distribution among project participants and analysis of costs and revenues.

Compared to traditional forms, project financing has a number of advantages. First, the lender knows in advance the cash flow of the project and can reasonably calculate its creditworthiness, taking into account which a decision is made on the cost of the loan and the repayment period. If the project is significant and profitable enough, then the borrower has the opportunity to receive funds at a lower cost.

Project financing is also called non-recourse financing. Regression is a claim to reimburse the amount provided in a loan from the entire property of the borrower. There are three forms of project financing:

With complete recourse to the borrower;

No recourse to the borrower;

With partial recourse to the borrower.

The last two forms of project financing are called project financing.

Financing with full recourse to the borrower is financing when the creditors of the project have the right to demand the repayment of the debt from the entire property of the borrower. The risks of the project are entirely assigned to the borrower, but at the same time the “price” of the loan is relatively low and allows you to quickly obtain funds for the implementation of the project. This form of financing is used mainly for low-profit, cost-intensive projects. Actually, this form cannot be called project financing, it is a form of project financing, since there is no restriction on the right of recourse here.

Financing without recourse to the borrower is a form of financing in which the lender does not have any guarantees from the borrower to receive the funds provided, with the exception of cash flow and property for the project being implemented and assumes all the risks associated with the implementation of the project. The cost of such financing is quite high for the borrower, as the lender seeks to receive adequate compensation for the high degree of risk. Consequently, only projects with a high return on investment potential are financed. To reduce the cost of a loan, a pledge of the borrower's property is often used, which can cover part of the loan. If the collateral is able to cover the entire amount of the loan, then secured loans are used, since it is cheaper for the borrower. Actually obtaining a loan against collateral is also financing without recourse to other property of the borrower, but here compensation is possible not from hypothetical proceeds from the project, but by selling the existing property.

In financing with partial recourse, each project participant is assigned a part, as a rule, depending on
taking risk from him. Thus, all participants assume specific commercial obligations and are interested in their implementation, since the amount of possible damage to a project participant depends primarily on the effective activities of this specific project participant.

One of the forms of long-term financing in Western companies is the attraction of venture (risk) capital - this is investment in venture (risky) projects for the development of new technologies, types of products or services. The fundamental difference between such investments is that they do not have to be returned. The initial source of attracting venture capital is the founders' personal savings and loans. The main incentive for financing is the receipt by the contributor of the constituent income, a share of the profit from the implementation of the idea, project. The goal of venture capital owners is often to finance a stage in a venture capital organization where it is possible to issue and sell shares whose value is significantly higher than the amount of capital invested.

Investments for venture capital can be companies whose prospects are too risky to obtain bank loans, but which promise high returns if successful. Not being responsible for the day-to-day management of the organization, the venture capitalist actively contributes to its development, success, helping leaders in the areas of overall strategy, financial planning, product improvement, marketing and agreements with technical partners on new technologies. The degree of risk associated with an investment will depend on what kind of reward the investor can expect. The withdrawal of venture capital takes place, as a rule, 10-15 years after the initial investment.

Each of the considered forms of financing has its own characteristics, therefore, it is possible to correctly assess the consequences of various investment methods only when comparing their alternative options.

In countries with developed market economies, new instruments of long-term financing have been developed: rights to preferential purchase of shares, warrants, pledge operations, securitization of assets, etc. All these instruments do not contradict Russian legislation, that is, they can be used in domestic practice. There are undoubtedly many opportunities for innovation, and they will emerge as the economy continues to change. Such innovations will offer financial managers opportunities to lower the price of capital in their organizations and, consequently, to increase shareholder wealth. However, the growing number of financial alternatives will make it even more important than before that decision-makers in an organization should be fluent in the world of finance and be able to use (or, if necessary, refrain from using) new methods of financing.

More on topic 7.3. Sources of funds for long-term investments in fixed assets and methods of financing:

1.5.2.3 Head of Cash and Short-Term Investments Department
Funds for short-term lending (resources) and credit investments (direction of resources) of the State Bank.
3.1. CONCEPT, CLASSIFICATION AND EVALUATION OF LONG-TERM INVESTMENT
14. FIXED CAPITAL OF THE ORGANIZATION: CLASSIFICATION OF FIXED ASSETS OBJECTS, METHODS OF CALCULATION OF CUSHIONING Theoretical material

The main tasks of accounting for long-term investments

In accordance with the Regulations on the accounting of long-term investments (letter of the Ministry of Finance of the Russian Federation dated 30.12.1993 No. 160), long-term investments mean the costs of creating, increasing the size, as well as the acquisition of non-current durable assets (over one year) not intended for sale, for with the exception of long-term financial investments in government securities, securities and authorized capital of other enterprises.

Long-term investments are associated with:

Capital construction in the form of new construction, as well as reconstruction, expansion and technical re-equipment of existing enterprises and non-production facilities;

Acquisition of buildings, structures, equipment, vehicles and other individual objects (or parts thereof) of fixed assets;

Acquisition of land plots and natural resources;

Acquisition and creation of intangible assets.

The purposes of accounting for long-term investments are:

Timely, complete and reliable reflection of all expenses incurred during the construction of objects by their types and accounted objects;

Ensuring control over the progress of construction, commissioning of production facilities and fixed assets;

Correct determination and reflection of the inventory value of fixed assets, land plots, objects of nature use and intangible assets being put into operation and acquired;

Control over the availability and use of sources of financing for long-term investments.

Funding of capital investments is carried out by investors at the expense of their own, borrowed and borrowed funds.

The main source of financing for the organization's capital investments is its own funds in the form of charter, reserve and additional capital, as well as profit used to expand production. TO own funds

· Profit (including special purpose funds if they are formed at the expense of profit);

· Depreciation charges for the complete restoration of fixed assets;

· Funds paid by insurance authorities in the form of compensation for losses from accidents, natural disasters and other funds.

The organization's own sources of investment primarily include the net profit remaining at its disposal after taxes. In the balance sheet, own sources of funds that can be used to make investments are reflected in section 3 "Capital and reserves", lines "Additional capital" (account 83) and "Retained earnings (uncovered loss)" (account 84).

As part of Additional Capital, the main source of investment is share premium - the amount of the difference between the sale and par value of shares received from the sale of additional shares at a price exceeding their par value. Analytical accounting for account 83 "Additional capital" is organized in such a way as to ensure the formation of information on the sources of education and areas of use of funds.

Analytical accounting for account 84 "Retained earnings (uncovered loss)" is organized so as to ensure the formation of information on the areas of use of funds. At the same time, in the analytical accounting, retained earnings funds used as financial support for the production development of the organization and other similar measures for the acquisition (creation) of new property and not yet used can be divided.

The source of own funds is also depreciation deductions equal to the amount of depreciation accrued for the period from the beginning of the current year. Depreciation deductions as a source of investment are of great importance. In modern conditions, there is a need for constant renewal of fixed assets, which forces enterprises to accelerate write-off of equipment in order to form savings for their subsequent investment in innovation. As a result, depreciation acquires its own forms of existence and movement and ceases to be an expression of physical depreciation of fixed capital, in this case it turns into an instrument for regulating investment activities.

Depreciation deductions are reflected on account 02 "Depreciation of fixed assets" and, according to the Chart of accounts, are written off upon disposal of fixed assets.

Depreciation deductions, being included in the cost of manufactured products (works, services), are included in the proceeds from the sale of these products (works, services) and are recorded either in the calculations or on the accounts of funds after the receipt of money from buyers and customers. They cannot be used for the acquisition of current assets, and therefore are used for the renewal of fixed assets.

TO borrowed funds organizations that finance capital investments include:

· Loans from banks, investment funds and companies, insurance companies, pension funds and other organizations;

· Loans from foreign investors;

· Bond loans;

· Promissory notes.

The main legal forms of lending are regulated in three paragraphs of Chapter 42 "Loan and Credit" of the Civil Code of the Russian Federation: Loan Agreement Rules (§ 1), Credit Agreement (§ 2), Commodity and Commercial Credit (§ 3).

In accordance with the Chart of accounts of accounting, to summarize information on the state of funds received from outside to finance the activities of an enterprise on loans from a bank, other lenders (creditors), as well as other funds for financing targeted activities, the following accounts are intended:

66 "Settlements on short-term loans and borrowings" and

67 "Settlements for long-term loans and borrowings."

The rules for the formation in accounting of information on costs associated with the fulfillment of obligations on loans and credits received are established by PBU 15/01, approved. by order of the Ministry of Finance of the Russian Federation dated 02.08.2001 No. 60n.

In accordance with clauses 12, 13, 23 of PBU 15/01, interest on a loan directly related to the construction of an investment asset should be included in the cost of this investment asset and repaid through depreciation, unless the accounting rules provide for depreciation of the asset. ...

In accounting, it is necessary to distinguish between commercial and bank loans.

Commercial loans- loans provided by one enterprise to another. Usually this is due to the transfer of monetary amounts or other things determined by generic characteristics to the ownership of the other party, including in the form of an advance payment, advance payment, deferral and installment payment for goods, works or services, unless otherwise provided by law. Advance payments can also be viewed as a form of commercial lending.

Unlike banks, commercial enterprises cannot provide loans from other people's funds temporarily at their disposal. Without a banking license, enterprises cannot engage in activities related to lending.

Commercial credit is accounted for on accounts 60 "Settlements with suppliers and contractors", 62 "Settlements with buyers and customers" on the corresponding sub-accounts.

Bank loan- this is money provided by an enterprise that has a banking license (bank). Funds are issued for a specific period and for specific purposes, on a repayable basis and with payment of interest for using the loan.

Other borrowed funds- these are funds received from the sale of shares, shares and other contributions of members of labor collectives, citizens, legal entities. Receiving loans by an enterprise can be carried out in the following ways:

· Obtaining short-term and long-term loans from lenders (except banks) within the country and abroad in rubles and foreign currency;

· Issuance of financial bills;

· Sale (issue) of short-term and long-term securities (bonds).

TO raised funds relate:

· Funds of organizations from the sale of shares, housing certificates;

· Charitable and other contributions;

· Funds allocated by higher holding and joint-stock companies, industrial and financial groups and other organizations on a gratuitous basis;

Funds transferred by way of equity participation, funds of housing cooperatives, etc.

Cash received by the head developers for the construction of production and non-production facilities from construction participants in the manner of equity participation is accounted for as targeted financing and receipts.

In cases where construction is carried out by attracting money savings and savings of individuals and legal entities, it is advisable to accumulate the funds received.

For these purposes, account 86 "Target financing" is used. Account 86 is intended to summarize information on the movement of funds intended for the implementation of targeted activities, funds received from other organizations and individuals, budget funds, etc.

In addition, sources of financing for capital investments include foreign investments provided in the form of financial or other participation in the authorized capital of joint ventures, as well as in the form of direct investments of international organizations, states, companies, etc.

Contents of operation	Corresponding accounts
Debit	Credit

Short-term loans and borrowings
	50; 51; 52; 55



Reflected negative exchange rate differences on loans and borrowings
Reflected positive exchange rate differences on loans and borrowings

Debt repaid at the expense of short-term bank loans without receipt to your current account
To suppliers and contractors
On advances received
For other debtors and creditors
For overdue short-term loans
For long-term loans
Long-term loans and borrowings
Funds for construction financing received	50; 51; 52; 55
Interest accrued on loans and borrowings received
Interest on loans and borrowings attributed to the increase in the cost of the purchased equipment
Interest on loans and borrowings attributed to the increase in the cost of capital investments
For capital investments (payment of invoices for construction and installation work of third-party organizations)
Loan repayment
Repayment of debt on short-term bank loans		50; 51; 52; 55
Debt on short-term bank loans repaid by subsidiaries (dependent) companies
Repayment of debt on long-term bank loans		50; 51; 52; 55
Involved funds
Funds were received for targeted financing and receipts: to the cash desk to the current account to the foreign currency account to special accounts in banks
The costs associated with capital investments were written off at the expense of special financing funds, but, according to the established procedure, are not included in its initial cost
Costs were written off and payments made from targeted financing were charged		10 76
Written off the costs associated with the activities of the organization's divisions, contained at the expense of targeted funding		20 23 26 29
Spending for the intended purpose of funds received in the form of targeted financing		50; 51; 52
Refund of funds previously made as contributions to joint activities (record of a participant in charge of common affairs)		50; 51; 52

Account 08 "Investments in non-current assets"

Long-term investments are kept on an active, calculation account 08 "Investments in non-current assets".

Account 08 is intended to summarize information about the costs of the organization in objects that will subsequently be taken into accounting as fixed assets, land and natural resources, intangible assets, as well as on the costs of the organization for the formation of the main herd of productive and working livestock (except for poultry, fur-bearing animals, rabbits, families of bees, service dogs, experimental animals, which are accounted for in the composition of funds in circulation).

Sub-accounts can be opened to account 08 "Investments in non-current assets", which reflect capital investments in the areas of investment:

08-1 "Acquisition of Land Plots",

08-2 "Acquisition of objects of nature management",

08-3 "Construction of property, plant and equipment",

08-4 "Purchase of fixed assets",

08-5 "Purchase of intangible assets",

08-6 "Transfer of young animals to the main herd",

08-7 "Purchase of adult animals", etc.

Contents of operation	Corresponding accounts
Debit	Credit
Items of fixed assets were transferred into operation at their initial cost resulting from capital investments: land and natural resources buildings and structures; machinery and equipment after installation; machinery and equipment that do not require installation		08-1; 08-2 08-3; 08-4 08-3 08-4
The object of fixed assets (object of external improvement) was accepted for operation		08-1
Attributed to the capital costs of the services of the contractor for the improvement of the territory (excluding VAT)	08-1
The amount of VAT paid to the contractor for the improvement of the territory is taken into account
Reflected the cost of remuneration of workers involved in the improvement of the territory	08-1
A unified social tax and an insurance premium for insurance against industrial accidents have been calculated from the amount of wages of employees engaged in the improvement of the territory	08-1

"Krasnoyarsk State Agrarian University"

Khakass branch

Test

Student II course

specialties economics and management at an agro-industrial complex

correspondence courses

(Full Name)

code _________

group E-94

Supervisor _______________________________________________________________

(Full Name)

Commission members: __________________ _________________________

(signature) (initials, surname)

_________________________ _________________________

(signature) (initials, surname)

Abakan - 2010

INTRODUCTION …………………………………………………………… ..3

1. ESSENCE AND VALUE OF LONG-TERM INVESTMENT ACCOUNTING ……………………………………………………………… ..… 5

1.1. Long-term investments: concept, classification and main tasks of accounting …………………………………………………… .5

1.2. Sources of financing for long-term investments ………… .10

2. ACCOUNTING OF LONG-TERM INVESTMENTS IN THE FORM OF CAPITAL INVESTMENTS ……………………………………………… .17

2.1. Disclosure of information on long-term investments in financial statements ……………………………………………………… 27

CONCLUSION ……………………………………………………… ... 29

REFERENCES ………………………………… ... 31

INTRODUCTION

Any enterprise is to some extent connected with investment activities. At large and medium-sized enterprises, investment decisions are made almost every day - these are current decisions about whether it is worth acquiring a new asset instead of an obsolete one, whether it should be repaired, whether it is worth increasing or decreasing the purchase of materials at this stage of work, etc. etc.

In terms of the degree of responsibility, some investment decisions practically do not affect the further activities of the organization and can be made without developing a well-thought-out plan. Larger decisions - (for example, expansion of production, construction of a new building, complete renovation of the equipment fleet, development of a new type of activity), should be made on the basis of a well-thought-out action plan, with the confidence of the project manager that this decision will bring the organization, which he works, real profit, and will not worsen the condition of the enterprise.

Thus, with the development of market relations and an increase in economic potential, the investment activities of enterprises are expanding.

By investing in any investment project, the company plans not only to reimburse the invested capital, but also to receive a certain amount of profit.

Relevance: information about long-term investments of the enterprise is necessary for both external and internal users. Investments are of great importance not only for the future position of the enterprise, but also for the country's economy as a whole. With their help, an expanded reproduction of fixed assets of both production and non-production nature is carried out, the material and technical base of a business entity is strengthened. This allows enterprises to increase production volumes, improve working and living conditions for workers. Cost price, assortment, quality, novelty and attractiveness of products, and their competitiveness depend on them.

Object: long-term investment.

Subject: the essence of accounting for long-term investments.

Purpose: to study the methods of accounting for long-term investments.

1) consider long-term investments, give a concept, consider the classification and the main tasks of accounting;

4) the acquisition and creation of intangible assets, including the performance of research, development and technological work.

Long-term investments can be classified according to a number of characteristics, for example, by form, by degree of readiness, by structure, by purpose, by industry, by source of financing.

For clarity, the classification of long-term investments is shown in Fig. 1.1.

Rice. 1.1. Long-term investment classification

In terms of form, long-term investments are divided into: new construction, reconstruction, expansion, technical re-equipment, maintenance of the capacities of existing production facilities and non-production facilities.

According to the degree of readiness, long-term capital investments are divided into completed and unfinished (unfinished) investments.

By structure, long-term investments in the form of capital investments are subdivided into: construction and creation of fixed assets, acquisition of fixed assets, acquisition of natural objects, creation and acquisition of intangible assets.

By designation, all long-term investments are subdivided into investments in production and non-production facilities, facilities intended for rent, leasing, and rental.

By industry, long-term capital investments are divided into: investments in industry, transport, housing, healthcare, agriculture and other industries.

According to the sources of financing, long-term investments are subdivided into investments at the expense of investors' own funds and at the expense of attracted funds.

When accounting for long-term investments, it is necessary to be guided by the following legislative and regulatory documents:

Civil Code of the Russian Federation, parts 1,2, 3;

Tax Code of the Russian Federation, parts 1 and 2;

Federal Law of 01.01.01 “On Joint Stock Companies”;

Federal Law of 01.01.01 “On the Securities Market”;

Construction object - a detached building or structure, type or complex of works, for the construction of which a separate project and estimate must be drawn up.

The main tasks of accounting for long-term investments are: correct, timely documenting of costs; correct reflection of costs for each object in the accounting registers; systematic control over the targeted use of funds, the implementation of the capital investment plan, compliance with the estimated cost of construction and installation work; accurate determination of the cost of completed and commissioned facilities and costs in construction in progress; control over compliance with budget and financial discipline in construction, over compliance with estimates of overhead costs for construction; ensuring control over the progress of construction, commissioning of production facilities and fixed assets; correct determination and reflection of the inventory value of the fixed assets, land plots, objects of nature use and intangible assets being put into operation and acquired; control over the availability and use of sources of financing for long-term investments.

Long-term investments are accounted for at actual costs: for construction as a whole and for individual objects (building, structure, etc.) included in it; for the acquired individual items of fixed assets, land plots, natural resources and intangible assets. Long-term investments are kept on account 08 “Investments in non-current assets”. This account reflects investments by their types on specially opened sub-accounts. The debit of account 08 reflects the actual costs of building and acquiring the relevant assets, as well as the costs of forming the main herd.

The formed initial cost of fixed assets, intangible and other assets, taken into operation and executed in accordance with the established procedure, is debited from account 08 to the debit of accounts 01 "Fixed assets", 03 "Profitable investments in tangible assets", 04 "Intangible assets", etc. The costs of completed operations of forming the main herd are debited from account 08 to the debit of account 01 "Fixed assets". The balance on account 08 reflects the amount of the organization's capital investments in construction in progress and the acquisition of fixed assets and intangible assets, as well as the amount of unfinished expenses for the formation of the main herd. Unfinished capital investments also include real estate objects that have not passed state registration.

1.2 Sources of financing for long-term investments

Sources of financing for long-term investments can be organizations' own funds and attracted funds - equity participation in construction, additional contributions from participants, long-term bank loans, long-term loans, extra-budgetary funds, federal budget funds provided on an irrecoverable and repayable basis.

An important source of own funds for long-term investments of the organization can be considered the authorized capital (authorized capital, joint capital), which is the amount of equity capital registered in the constituent documents (charter of the organization) contributed by the founders in the form of monetary funds or other property when the organization was created. Accounting for the movement of funds of the authorized capital of the organization is carried out on account 80 "Authorized capital".

But in the process of the organization's economic activity, current changes in the financial condition may occur, which do not require re-registration of the authorized capital. In such cases, the concept of additional capital is introduced. Additional capital includes the amount of the increase in the value of the organization's non-current assets, share premium, etc. To account for the state and movement of additional capital funds, account 83 "Additional capital" is used.

Another component of the organization's own funds is the reserve capital. Reserve capital is the insurance capital of the organization intended to compensate for losses and to pay income to investors or creditors if there is not enough net profit for these purposes. In organizations of different forms of ownership and types of activity, the formation of reserve capital can be mandatory or voluntary. To account for changes in the reserve capital, account 82 "Reserve capital" is used.

The authorized, reserve and additional capital can be considered as sources for long-term investments only theoretically, since these sources are already associated with the assets (property of the organization) that were contributed as contributions of the founders (participants) or received as an increase in their revaluation. In addition, in joint-stock companies, the reserve capital cannot be a source of financing capital investments, since these goals are not included in the list of directions for its use provided for by the law on these companies.

Another source of financing for long-term investments is profit, which is defined as the difference between the income and expenses of the organization. Organizations can create special purpose funds at the expense of deductions from net profit, that is, from the profit remaining at their disposal, or use the profit remaining at their disposal without the formation of various trust funds. According to their purpose, all created special funds can be divided into consumption funds and accumulation funds. Consumption funds are formed to finance social protection of workers, for their material incentives, incentives, subsidies, additional payments, etc. Accumulation funds are intended for technical re-equipment, reconstruction, expansion and development of new types of products, construction and renovation of fixed assets. In any case, the funds of the organization's net profit are accumulated on account 84 "Retained earnings (uncovered loss)".

The next source of financing for long-term investments can be depreciation charges. Depreciation deductions are included in the cost of products (works, services) and are therefore part of the sales proceeds. The proceeds, in turn, in the form of funds, go to the organization's cash desk or to its accounts in bank institutions. And this money can be used to finance capital investments in fixed assets and intangible assets. System accounting does not record the use of depreciation as a source of funding. Analyzing whether there are enough funds for the planned capital investments, we can compare the amounts required with the balances on accounts 02 "Depreciation of fixed assets" and 05 "Depreciation of intangible assets".

In addition to our own sources of financing for long-term investments, there are also borrowed ones. Borrowed sources include bank loans and loans provided by other legal entities or individuals on terms of repayment. Bank loans and borrowed funds (accounts 66 "Settlements for short-term loans and borrowings" and 67 "Settlements for long-term loans and borrowings") show the amount of borrowed funds for long-term investments and assume a predetermined source of return of these funds and interest for their use.

Another source of financing for long-term investments are attracted funds - targeted financing, budget allocations, sponsorship receipts and other funds on a non-refundable basis. In this case, the funds are transferred to the organization's accounts from the budget or another source, are reflected on account 86 “Target financing” and show the source of financing for long-term investments according to the target nature of the funds received. Thus, there are three main sources of financing for long-term investments - depreciation charges, bank loans, loans and targeted financing and receipts.

The current accounting methodology does not provide for the maintenance of synthetic accounting for the use of an organization's net profit as a source of long-term investment. But the organization can independently maintain analytical accounting and control over the use of profits for these purposes. To do this, it is necessary to open separate sub-accounts to the synthetic account 84 "Retained earnings (uncovered loss)": "Profit in circulation" and "Profit used". When using profit as a source of long-term investment in these accounts, an entry can be made:

D-t 84 "Retained earnings (uncovered loss)", subaccount "Profit in circulation"

K-t 84 "Retained earnings (uncovered loss)", subaccount "Profit used".

The next source of financing for long-term investments can be depreciation charges. Depreciation deductions are included in the cost of products (works, services) and therefore are part of the proceeds from the sale of the final product. The proceeds in the form of monetary funds go either to the cashier of the organization, or to its accounts in bank institutions. These funds can be used to finance capital investments in fixed assets and intangible assets. System accounting does not provide for records on the use of depreciation as a source of financing for long-term investments. But when analyzing the sufficiency of funds for the planned investments, it is necessary to compare the amounts that are required with the balances on accounts 02 "Depreciation of fixed assets" and 05 "Depreciation of intangible assets".

If budget funds are used to finance long-term investments on a non-refundable basis, their movement is recorded on account 86 “Target financing”. Targeted financing funds received as a source of long-term investments are reflected:

Dt 76 "Settlements with different debtors and creditors"

Kt 86 "Target financing".

Receipt of budget funds on a non-refundable basis is reflected:

Kt 76 "Settlements with different debtors and creditors."

Budget funds are written off from account 86 "Target financing" systematically. When using these funds, the following entries are made on the accounts:

D-t 86 "Target financing"

Kt 98 "Deferred income", subaccount "Gratuitous receipts".

After the object is put into operation, the amounts reflected on the “Gratuitous receipts” subaccount are written off during the useful life of the objects of non-current assets in the amount of amortization accrued on them as non-operating income:

D-t 98 "Deferred income", sub-account "Gratuitous receipts" K-t 91 "Other income and expenses", sub-account "Other income".

In case of misuse of the funds received, the organization is obliged to return them.

But apart from our own sources of financing for long-term investments, there are also attracted ones. Attracted sources of funding include:

Bank loans;

Loans to legal entities and individuals;

Budget funds provided on a returnable basis;

Funds received from other organizations as equity participation in the construction of facilities.

Loans and loans attracted by the investor as a source of financing for long-term investments in the form of capital investments are reflected in accounts 66 “Settlements on short-term loans and borrowings” or 67 “Settlements on long-term loans and borrowings”. Receipt of a loan from a bank or lender is reflected:

D-t 51 "Settlement accounts", 55 "Special bank accounts"

Kt 66 "Settlements for short-term loans and borrowings", 67 "Settlements for long-term loans and borrowings."

The receipt of funds from budgets of various levels on a repayable basis (budget loans) is similarly reflected.

Interest paid to credit institutions and other legal entities and individuals for loans and borrowings received, to treasury authorities on received budget loans, are included in the actual value of long-term investment objects for which they were received, until they are put into operation. After their commissioning, interest is paid from the operating expenses of the organization.

Funds received from other organizations in the order of their equity participation in long-term investments are recorded either on account 76 “Settlements with various debtors and creditors”, or on account 86 “Target financing”. After the completion of the investment, the obligations to the respective equity holders are extinguished by transferring their shares:

Dt 76 "Settlements with various debtors and creditors", 86 "Target financing" Kt 08 "Investments in non-current assets". Construction and installation work is financed through a contractor or directly through the costs of the developer, depending on the method of construction (contract or economic).

2. ACCOUNTING OF LONG-TERM INVESTMENTS IN THE FORM OF CAPITAL INVESTMENTS.

Capital investments represent investments in non-current assets, including the costs of new construction, expansion, reconstruction and technical re-equipment of existing organizations, the acquisition of machinery, equipment, tools, inventory, design and survey work, etc. Capital investments are an economic process ... Like any other business process, it is reflected in accounting as a set of costs and benefits. The accounting reflects primarily the costs incurred in the process of capital investments, i.e. the costs of design, construction and reconstruction of facilities, the purchase and installation of equipment, machinery, devices, the cost of purchasing finished objects, etc. The result of the process of capital investments is new or reconstructed objects of non-current assets.

Long-term investments are kept on an independent synthetic account 08 "Investments in non-current assets". This account is intended to summarize information about the costs of the organization for objects that will subsequently be accepted for accounting as non-current. Separate subaccounts can be opened to this account by types of these assets: "Acquisition of land plots", "Acquisition of natural resources", "Construction of fixed assets", "Acquisition of fixed assets", "Acquisition of intangible assets", etc. By debit of the account 08 "Investments in non-current assets" reflects the actual costs of the acquisition, construction and installation of individual objects of this category of assets on an accrual basis. The balance (debit) on the account reflects the value of unfinished investments (construction). On account 08 "Investments in non-current assets" analytical accounting is carried out for each construction or acquisition object and cost items. Capital investments are grouped in accounting according to the technological structure of expenses, therefore, the following grouping is usually accepted:

Equipment installation works;

Purchase of equipment requiring installation;

Purchase of equipment that does not require installation;

Other capital expenditures;

Costs that do not increase the value of fixed assets.

Construction work is carried out in the presence of title lists, design estimates and funding sources. Title lists are a list of objects planned for construction or reconstruction. They provide for the start and end dates of work, the estimated cost, the volume of capital investments by years, etc. The design and estimate documentation includes a project, drawings, a set of technical documents, a consolidated estimate, explanatory notes and other materials necessary for the planned construction or reconstruction buildings, structures or enterprises. Design and estimate documentation is developed on the basis of feasibility studies and technical and economic calculations.

When construction is carried out by a contractor, the customer enters into a work contract, as a rule, with the main contractor (general contractor). He is responsible to the customer for the implementation of all general construction, special construction and installation work. The general contractor may engage other construction or installation organizations to carry out the work, which are called subcontractors. Subcontractors enter into contracts with the general contractor and are responsible to him for the performance of certain types of work, their timing and quality. The customers pay for the work completed by the contractors depending on the payment methods chosen by the parties.

The organization of construction of facilities, control over its progress and accounting of the costs incurred in this case are carried out by developers. At the same time, the accounting procedure is regulated by the Accounting Regulations “Accounting for Agreements (Contracts) for Capital Construction” (PBU 2/94).

Construction refers to an individual type of production. The construction process begins with planning, which is carried out according to the available estimates for construction work, and determining the sources of their financing, and ends with the commissioning of the constructed facilities. In the accounting of the developer and the contractor, payments for construction objects are reflected based on their contractual value specified in the construction contract. Therefore, in construction, a custom-made method of accounting for costs incurred is usually used. The developer keeps a record of costs on an accrual basis from the beginning of the work to the commissioning of the facility. In this case, the cost of capital construction takes the form of the initial cost of the introduced fixed assets. Until the end of work on the construction of facilities, the costs of their construction, accounted for on account 08 "Investments in non-current assets", are capital investments in progress.

Construction work is carried out either by a contractual method, i.e. by specialized construction and installation organizations (contractors) on a contractual basis, or by an economic method, i.e. by the developer himself.

In the case of a contractual method, the completed and executed construction and installation work is reflected in the developer's account on account 08 “Investments in non-current assets” at the contractual cost. The cost of construction work in the developer's accounting is reflected on the basis of the acceptance certificate of the work performed (according to the form No. KS-2), which is signed by the developer and the contractor. The developer pays for the specified work according to a certificate of the cost of work performed and costs (according to the form No. KS-3). Based on this certificate, the developer includes the cost of the work performed as part of investments in non-current assets. On the accounts of accounting, this operation is reflected by the following record:

D-t 08 "Investments in non-current assets", 19 "Value added tax on acquired assets" K-t 60 "Settlements with suppliers and contractors."

Decrease in debt as bills are paid is reflected:

D-t 60 "Settlements with suppliers and contractors" K-t 51 "Settlement accounts", 52 "Currency accounts", 55 "Special bank accounts".

For the contractor, all the costs of construction work are the main activity and are recorded on account 20 "Main production", that is, on the basis of documents for the release of materials and spare parts, payroll payroll, etc., accounting entries are made:

D-t 20 "Main production"

K-t 10 "Materials", 70 "Payments with personnel for wages", 69 "Payments for social insurance and security", etc.

According to PBU 2/94, the developer identifies the financial result from the performance of his functions by determining the difference between the amount of funds included in the estimate for objects under construction in this reporting period and the actual costs. In the case of settlements between the developer and the investor for the delivered object at the contractual value, the financial result also includes the difference between this cost and the actual costs of building the object, taking into account the costs of maintaining the developer. Thus, after the completion of construction and the delivery of the object according to the act to the customer, the following entries are made in the contractor's accounts:

D-t 62 "Settlements with buyers and customers" K-t 90 "Sales", subaccount "Revenue".

When writing off the actual cost of work performed by the contractor and value added tax on the work and services of the contractor:

D-t 90 "Sales", subaccount "Cost of sales"

Kt 20 "Main production", 68 "Calculations of taxes and fees."

Thus, on account 90 "Sales" the contractor traditionally determines his profit or loss from the construction of a specific facility. If the construction activity for the customer is not a common type of activity, then the financial result is revealed on account 91 "Other income and expenses".

In accordance with the construction contract, settlements between the developer and the contractor can be carried out:

After the completion of all work at the construction site;

D-t 08 "Investments in non-current assets"

Kit 07 "Equipment for installation".

The contractor, who received equipment from the customer for use in the construction of the facility, takes into account such equipment on off-balance sheet account 005 "Equipment accepted for installation." Upon receipt of equipment requiring installation, the contractor makes a simple entry: D-t 005 "Equipment accepted for installation", and when installing equipment in a facility under construction: K-t 005 "Equipment accepted for installation". The customer accepts the installed equipment according to the certificate of work performed. The act shows only the cost of installation and commissioning works, excluding the cost of equipment.

If the contractor provides the construction with the necessary equipment, then its cost is reflected by the customer on account 08 "Investments in non-current assets" together with the cost of installation and other work (according to the invoice).

With the economic method of construction and installation work, the costs are accounted for on account 08 "Investments in non-current assets". This account reflects the costs actually incurred by the developer:

D-t 08 "Investments in non-current assets" K-t 10 "Materials", 70 "Payments with personnel for wages", 69 "Payments for social insurance and security", etc.

If organizations have independent structural divisions that perform construction and installation work, then they take into account their costs on account 23 "Auxiliary production":

D-t 23 "Auxiliary production"

K-t 10 "Materials", 70 "Payments with personnel for wages", 69 "Payments for social insurance and security", etc.

At the end of these works, the costs are written off:

D-t 08 "Investments in non-current assets" K-t 23 "Auxiliary production".

The commissioning of fixed assets into operation is reflected in the accounting accounts:

D-t 01 "Fixed assets"

K-t 08 "Investments in non-current assets".

One of the main tasks of accounting for capital investments is to determine the entire set of costs related to the erected construction object, its reconstruction or acquisition. These costs at the end of the work will determine the inventory (initial) cost of commissioned objects - buildings, structures, equipment, etc.

The inventory value of the facilities put into operation consists of the costs of construction and other capital work. The inventory value for the completed construction, reconstruction, acquisition is determined. To check the suitability of the facility for operation, special commissions are created. Full readiness for operation is confirmed by the acceptance certificate of the object. It indicates the volume, production capacity, area, parameters characterizing the object, its readiness for operation, the quality of the work performed, the presence of imperfections, the timing of their elimination. A fully completed and signed act is transferred to the customer-developer and is the basis for determining the inventory value of the capital investment object.

When carrying out capital construction, the organization bears expenses that are not directly related to the construction of the facility, but without them it cannot be erected. They are defined as costs that do not add to the inventory value of items. Costs that do not increase the value of fixed assets are accounted for on account 08 "Investments in non-current assets" separately from construction costs. Such costs can be subdivided into costs provided for by estimates and calculations, and costs not provided by them.

The first group includes: the cost of training operational personnel for the main activities of enterprises under construction; the cost of reimbursing the cost of buildings and landings demolished during the allocation of land for construction; funds transferred for the construction of facilities in the order of equity participation in the subsequent transfer of the constructed facilities, etc.

The second group includes costs: for payment of interest on bank loans in excess of the discount rates established by the Central Bank of the Russian Federation; for construction conservation; for the demolition, dismantling and protection of facilities, terminated by construction, etc.

2.1. Disclosure of information on long-term investments in financial statements.

In the financial statements, at least the following information is subject to disclosure, taking into account materiality:

About the amount of unfinished construction;

On the volume of acquired objects of non-current assets;

Sources of financing for long-term investments in

form of capital investments. The creation of non-current assets, especially their construction, is stretched out in time and often lasts for several reporting periods, during which capital expenditures are in a transitional form - expenses have been incurred, and the objects of these assets have not yet been registered. Therefore, it becomes necessary to take into account capital costs in unfinished objects of non-current assets. The balance sheet (form No. 1) reflects the balances of construction in progress at the beginning of the year and at the end of the reporting period.

As for information about non-current assets received by the organization (fixed assets, profitable investments in tangible assets and intangible assets), then in total it is contained in the balance sheet, as well as in other reporting forms that represent a breakdown of the balance sheet. So, for example, the appendix to the balance sheet (form No. 5) shows the receipt of intangible assets, fixed assets and objects of profitable investments in tangible assets by their types for the reporting period. In addition, this form reflects both all expenses for research, development and technological work, as well as unfinished and unsuccessful ones.

Information about the sources of financing for long-term investments in the form of capital investments is contained in several forms of financial statements. For example, the balance sheet shows the amount of retained earnings of the organization, and the profit and loss statement reflects the net profit of the organization for the reporting period. In the report on changes in capital (Form No. 3) in the "References" section, the amounts received for the reporting year from the budget and off-budget funds of earmarked receipts for financing capital investments in non-current assets are indicated. The appendix to the balance sheet (form No. 5) reflects two indicators: the total amount of budget funds received, including by their types for the reporting period and for the same period of the previous year, and the amount of types of budget loans received as of the beginning and end of the reporting period , as well as the amounts received and returned during the reporting period.

CONCLUSION

Long-term investments are understood as the costs of the organization for the creation, increase in size, as well as the acquisition of non-current assets not held for sale. Investments are investments by an organization of monetary resources in construction, the acquisition of fixed assets and intangible assets that can be used for a long time, as well as in securities, receiving income from them in the form of dividends or interest.

If we consider investments by the terms of their investment, then they are long-term and short-term. Short-term investments are made for a period of up to one year (12 months), and long-term investments are made for a period of more than a year.

If we consider investments according to the final results, then they can be divided into investments in property and financial investments. Investments in property are understood as capital investments in non-current assets, that is, investments in fixed assets and intangible assets. Financial investments - long-term and short-term investments in securities and debt obligations, investments in the authorized capital of other organizations, as well as the provision of loans in order to obtain additional income.

Before starting any investment project, it is necessary to determine the sources of its financing. Sources of long-term investment can be the organization's own funds, borrowed funds, budget allocations and sponsorship receipts from other organizations.

The organization's own funds are the authorized, additional and reserve capital, funds, profit and accumulated depreciation charges.

As noted above, an important point in planning long-term investments is to determine the sources of their financing, but no less important here is the need and the ability to control the use of the selected sources of financing by means of accounting. For these purposes, non-system accounting information is used. When they talk about off-system accounting, they mean that information, for one reason or another, is not generated in the accounting accounts in the form of turnovers or balances on accounts and subaccounts after accounting entries have been made during the reporting period. Non-system accounting information is formed by filling in various tables and other accounting registers for analytical accounting with subsequent generalization and summing up of them. Unlike system accounting, non-system accounting does not use the double entry method and information is not reflected in synthetic accounting accounts in the form of turnovers and balances; however, formed in off-system accounting, it is used for planning, forecasting and economic analysis. The question arises: why is it impossible to show the use of sources for financing long-term investments using systematic accounting?

But if we, for example, show the use of accumulated depreciation, debit accounts 02 "Depreciation of fixed assets" and 05 "Depreciation of intangible assets", then the data on the residual value of non-current assets will be distorted.

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If we consider investments in terms of their investment, then they are long-term and short-term. Short-term investments are made for a period of up to one year (12 months), and long-term investments are made for a period of more than a year.

If we consider investments according to the final results, then they can be divided into investments in property and financial investments. Investments in property are understood as capital investments in non-current assets, i.e. investments in fixed assets and intangible assets. Financial investments - long-term and short-term investments in securities and debentures, investments in the authorized capital of other organizations, as well as the provision of loans in order to generate additional income.

The organization's own funds are the authorized, additional and reserve capital, funds, profit and accumulated depreciation charges.

Another source of financing for long-term investments is profit, which is defined as the difference between the income and expenses of the organization. Organizations can create special purpose funds from deductions from net income, i.e. from the profit remaining at their disposal, or to use the profit remaining at their disposal without the formation of various trust funds. According to their purpose, all created special funds can be divided into consumption funds and accumulation funds. Consumption funds are formed to finance social protection of workers, for their material incentives, incentives, subsidies, additional payments, etc. Accumulation funds are intended for technical re-equipment, reconstruction, expansion and development of new types of products, construction and renovation of fixed assets. In any case, the funds of the organization's net profit are accumulated on account 84 "Retained earnings (uncovered loss)".

The next source of financing for long-term investments can be depreciation charges. Depreciation charges are included in the cost of goods (works, services) and are therefore part of the sales proceeds. The proceeds, in turn, in the form of funds, go to the organization's cash desk or to its accounts in bank institutions. And this money can be used to finance capital investments in fixed assets and intangible assets. System accounting does not record the use of depreciation as a source of funding. Analyzing whether there are enough funds for the planned capital investments, we can compare the amounts required with the balances on accounts 02 "Depreciation of fixed assets" and 05 "Depreciation of intangible assets".

See also:

Article 6. Organization of accounting in organizations. Article 7. Chief Accountant. Chapter II. Basic requirements for accounting.