How to write off fixed assets?
If fixed assets are unsuitable foruse, they can be written off. For example, equipment has failed because of its natural wear and tear. In some cases, repairs can be costly to the enterprise. Therefore, it is easier to write off such equipment. Many accountants are wondering how to write off fixed assets. In order to do this, it is necessary to study the normative documents concerning the issue of write-off of fixed assets and the corresponding instructions.
The process of write-off of fixed assets
So, how to write off the fixed assets, what canapply ... The procedure for writing off fixed assets is prescribed in the guidelines of the Ministry of Finance of the Russian Federation No. 91n of 13.10.2003. In accordance with this document, the decision that the equipment can no longer be operated is adopted by a special commission, which is created by the order of the enterprise management. In the course of the work of this commission, the equipment is worn out, the reasons for its failure and so on. In the event that the equipment has failed before the end of its useful life, the commission determines the perpetrators. Moreover, the commission establishes the possibility of using separate parts of equipment, and also controls the seizure of precious metals.
After the commission recognizesthe need to remove the main asset from operation, an act of write-off is drawn up. A sample of such an act and an example of its filling can be found here. This act prescribes data on the object, including its cost during commissioning, as well as the causes of failure. Forms of acts of write-off of fixed assets are unified. They are approved by the Resolution of the State Statistics Committee of the Russian Federation of January 21, 2003 No. 7.
Any act on writing-off of fixed assets is prepared intwo copies. The first copy is transferred to the accounting department, the second one remains with the person who is financially responsible for the object. On the basis of this act, fixed assets that are out of service are surrendered to the warehouse or are subject to spare parts sales.
Write-off of fixed assets and income tax
As for the procedure for taxation, writing offfixed assets refers to non-operating expenses. These costs imply funds allocated for the uninstallation and removal of equipment. At the same time, as mentioned above, the write-off of fixed assets is made out by the enterprise's accounting department on the basis of an act drawn up by the commission for writing-off.
It is important to understand that such an actis finalized only after the process of liquidation or partial liquidation is completed. Also, it is necessary to take into account that the process of liquidation of fixed assets can be quite long. Its beginning can refer to one tax period, and the ending to another. At the same time, liquidation costs are taken into account at the end of the process, that is, when drawing up the certificate.
With regard to partial liquidation, it is notthe elimination of the entire means, but only of its part. At the same time, such means change the original price. Also, the amount of under-depreciation is adjusted. The residual value of that part of the funds that is subject to liquidation is determined proportionally.
Thus, the write-off of fixed assetsenterprise is an important aspect. It is important for the employees of the enterprise that are members of the commission, as well as accounting, to know how to write off the fixed assets correctly in accordance with the requirements of the law.