Management in production

9th practical training.Accounting for fixed assets and intangible assets in budget organizations

Plan:

1. 
   Organization of the account of fixed assets, its purpose and tasks.
   
2. 
   Accounting for the income of fixed assets.
   
3. 
   Calculation of depreciation of fixed assets.
   
4. 
   Accounting for the repair and construction of fixed assets.
   
5. 
   Fixed asset revaluation account.
   
6. 
   Calculation of removal of fixed assets from the balance sheet.
   
7. 
   Organization of the account of intangible assets, its purpose and tasks.
   
8. 
   Accounting for the income of intangible assets and their assessment.
   
9. 
   Intangible assets write-off account.
   
10. 
    Organization of analytical and synthetic account of fixed assets and intangible assets.
    

Issue 1

Indicate the criteria for recognition of fixed assets in budget organizations, give practical examples.Regardless of the service life and value, which property assets are not included in the fixed assets. What are the tasks of accounting in the organization of the fixed assets account.Explain the procedure for assigning an inventory number to fixed assets.

2. Problem

In 2021, the following transactions took place regarding revaluation of fixed assets and income of school 23, Fergana district, Fergana region:

No	Content of transactions	Dt	Kt	Basic document	Amount
1	As a result of the revaluation of fixed assets, their initial value has increased
2	As a result of revaluation of fixed assets, their depreciation value increased accordingly
3	When purchasing fixed assets: a) to the cost of purchased fixed assets (purchase price, as well as delivery and other additional costs)
	b) Entry of fixed asset at initial cost
4.	When fixed assets are taken indiscriminately: a) according to the market value determined in the prescribed manner
	b) to the amount of delivery and other additional costs (transport services are provided)
	c) entry of the fixed asset at its initial cost
5	When inventories are transferred from the composition of goods - material reserves to fixed assets: a) at actual value
	b) goods - a fixed asset transferred from material reserves was received at the initial cost

6.

Unaccounted-for fixed assets identified during the inventory process were purchased at market value

Required:

1. 
   Determine the amounts of revaluation of fixed assets and income transactions independently (according to the index method of revaluation, within the limits of the norms specified in the estimate given in problem 37).
   
2. 
   Show the documents that are the basis for revaluation of fixed assets and income transactions, as well as fill out the document forms and transfer them to the relevant memorial order.
   
3. 
   Show accounting entries for revaluation of fixed assets and revenue transactions.
   

2.