Information to be obtained.
1. Fixed assets ledger (fixed asset category, code, name, quantity, purchase year and month, original value, depreciation and other information).
2. Inventory table.
3. Real estate certificate (real estate ownership certificate).
4. Vehicle driving license (annual inspection information, the annual inspection date needs to exceed December 31 of the current year, if the audit is in 2022, the validity period of the driving license must exceed December 31, 2022).
Understand the business processes for fixed assets.
Teach you how to make fixed assets audit working papers
Fixed assets refer to tangible assets that have the following characteristics at the same time: (1) held for the production of goods, the provision of labor services, leasing or operation and management;(2) The service life is more than one fiscal year.
The first step is to prepare a detailed statement of fixed assets, review the correct addition, and check it with the three tables of enterprise sequence account, account balance table and enterprise statement. Fixed assets are more important non-monetary assets in addition to monetary funds, and fixed assets should be consistent with the facts. And the fixed assets card account and the fixed assets ledger and the physical object should be corresponding.
Note: Fixed assets are generally divided into five categories: buildings and buildings, machinery and equipment, transportation equipment, office equipment, electronic equipment and other equipment. Audits are also categorized by category. When filling out the schedule and the notes to disclose, they are also divided into categories.
The second step is to take stock of fixed assets. The inventory of fixed assets is also one of the important audit procedures, and there are generally two inventory methods: one is from the physical object to the book, according to the order of the physical object to find on the ledger, whether it can correspond one by one, including the name of the fixed asset, the purchase time, the accounting time, the model, etc. The second is from the book to the physical object, whether the fixed assets recorded in the account can be found from the physical object. Do a good job of the fixed assets inventory table and print it out, and generally the initial audit inventory ratio is more than 80%. Continuous audit draws can be used to see if there is any loss, transfer of lease, etc. Major inventory of new fixed assets. During the inventory, it is necessary to be accompanied by fixed asset management personnel and financial personnel, and photos can also be taken for evidence. Pay attention to distinguish between inventory and fixed assets. For example, part of the sewage purification processor in environmental protection enterprises is used as a fixed asset in the project, and part is used as an inventory to the outside world, so it is necessary to distinguish which are fixed assets and which are inventory. The inventory is clearly marked and photographed. Classification as a fixed asset requires monthly depreciation. Classification as inventory depends on whether there is an indication of impairment, and if so, impairment is provided. If a problem is found, adjust it. The inventory process should be recorded truthfully, and a good inventory summary should be written, and the inventory table should be signed by financial personnel, financial supervisors and auditors, and stamped with the official seal. When taking inventory, it is necessary to pay attention to check whether the fixed asset code is unique and regular. Check the name, purpose, location, and department of use of fixed assets. Pay attention to check whether the fixed assets are idle, how new they are, and whether they have any use value. See if their equipment is running, whether it has been dusted for a long time, if so, ask the enterprise personnel what is the reason, if it is because the product is out of stock, it will not be produced in the future, or even if it is produced, it is difficult to sell, then this fixed asset should be reduced. When you see a newer piece of equipment, or a newly built house, check to see if it's on the list. The fixed assets of some enterprises have obviously reached the predetermined state of use, but they are not consolidated, for various reasons, some want to delay for a period of time and reduce depreciation, and some are because the invoices and other documents have not been completed, and the final accounts have not yet been handled. Regardless of the reason, if it has reached the intended usable state, it should be transferred to the fixed asset and depreciation should be accrued. If there is a profit or loss, see what is the reason for the profit and fixed assets, and make a profit or loss adjustment for the previous year. Whether the inventory loss is not scrapped in time or lost, it is included in the non-operating expenses.
The third step is to calculate the depreciation of fixed assets (important).
When calculating depreciation, you can appropriately ask the management of the audited unit (or obtain the financial accounting system of the audited unit), understand the depreciation policy of fixed assets, check whether the depreciation policy and method formulated by the audited unit comply with the provisions of the relevant accounting standards, and determine whether the depreciation method adopted is reasonably apportioned during the service life of the fixed assets, whether the front and back stages are consistent, and the reasons for inconsistency need to be inquired.
Then, according to the fixed asset ledger obtained, including the fixed asset category, code, name, quantity, purchase year and month, use status (in use or idle, etc.), original value, residual value rate, depreciation method (generally amortized by straight-line method), depreciation period, number of months of depreciation in the current year, cumulative annual depreciation at the beginning of the year, depreciation in the current period, accumulated depreciation in the current year, etc., the depreciation period of the current period is mainly calculated, and then the depreciation amount of the current period is calculated. Calculate the accumulated depreciation of the current year = the accumulated depreciation at the beginning of the period + the depreciation accrued in the current period (based on the fact that the accumulated depreciation at the beginning of the period is correct, if the difference is too large, it cannot be used, and it needs to be calculated from the beginning).
Note: If the depreciation amount and other calculation differences are small, they will not be adjusted according to the level of importance. If there is a major error, the audit adjustment shall be carried out. When we do IPO, we find that the depreciation policy of the enterprise is unreasonable (it is very different from the listed companies in the same industry, and there is no reasonable reason), and the depreciation policy is changed to the audited unit according to the same industry.
Note: Accrued depreciation amount for the current period = original value * (1 - residual value rate) depreciation period * depreciation period for the current period.
Note: The residual value rate is generally 5%.
The fourth step is to check and test the depreciation allocation.
After measuring the depreciation, let's see which accounts the depreciation is allocated to. Separately to the manufacturing expenses (some enterprises directly included in the operating costs), management expenses, research and development expenses, sales expenses of the secondary accounts of the total debit of the "depreciation of fixed assets" in principle equal to the "accumulated depreciation" of the credit amount, will definitely be able to check on. This collusion relationship will be used when compiling the cash flow statement. If the enterprise has a particularly large number of entries for depreciation, use advanced screening to screen them out. Then look at the standard of enterprise depreciation allocation, how to allocate between manufacturing expenses, management expenses, R&D expenses, sales expenses, etc. For example, the depreciation of fixed assets in the workshop should be included in the manufacturing expenses, and the office should be included in the management expenses. Sometimes, there are several rooms on the first floor that are offices, and the rest are workshops, which can be distributed according to the proportion of the area. In practice, ask the company's financial staff how they are assigned, and then use their method to calculate it. If there is a difference, it will be adjusted according to the actual situation.
The fifth step is to verify the increase or decrease of fixed assets in the current period, indicate the reasons for the increase or decrease, whether there is a project under construction to be consolidated, provide an acceptance form, obtain the inspection and identification report of the relevant department, all project expenditure invoices, transfer certificates, etc. The reason for the decrease is transfer** or scrapping. The reduction is divided into disposal and scrapping, and the two accounting treatments are different, the disposal of assets is calculated as profit and loss (which will affect operating profits), and the non-operating income and expenditure is calculated for scrapping (which does not affect operating profits), which should be clarified. (Generally, there is a use value is disposal, and no use value is scrapped, check the approval form, scrap list, etc.).
Check the new fixed assets as follows:
1) For the purchased fixed assets, check the supporting documents such as purchase contracts, invoices, insurance policies, shipping vouchers, etc., to determine whether the recorded value is correct, whether the authorization and approval procedures are complete, and whether the accounting treatment is correct.
2) For self-built fixed assets, check whether the time point of recognition of fixed assets conforms to the provisions of the accounting standards for business enterprises, whether the recorded value is consistent with the relevant records of the project under construction, and whether it is consistent with the final accounts, acceptance and handover reportsFor fixed assets that have reached the intended state of use, but have not yet gone through the formalities of final accounts for completion, check whether they have been recorded at the estimated value, and depreciation shall be accrued in accordance with the regulations.
3) For the fixed assets invested by the investor, check whether the fixed assets invested by the investor are recorded according to the value confirmed by the investment parties, and check whether the confirmed value is fair and whether the handover procedures are complete;If state-owned assets are involved, whether there is an assessment report and reviewed and confirmed by the state-owned assets management department.
4) Check whether there is a disposal charge for the fixed asset, and if there is a disposal charge, check whether the estimation method of the disposal cost and the calculation of the present value of the disposal cost are reasonable, and whether the accounting treatment is correct.
For the disposal of fixed assets, we need to check the following aspects:
1) Combined with the fixed assets disposal account, check whether the book resale amount of fixed assets is correct.
2) Check whether the fixed assets that are lost, transferred, scrapped or damaged are authorized and approved, and whether the accounting treatment is correct.
3) Check whether the accounting treatment of fixed assets that have been discontinued due to repair or renovation is correct.
4) Check whether the accounting treatment of fixed assets transferred out of investment is correct.
5) Check whether the accounting treatment of fixed assets transferred out of debt restructuring or non-monetary asset exchange is correct.
6) Check whether the accounting treatment of other reduced fixed assets is correct, and pay attention to whether there is a lease, and the leased fixed assets should be sent a letter, and the depreciation should be calculated normally.
Step 6, aHouses and buildings property rights inspection, obtain real estate certificates, and send a letter to the real estate bureau for verification if necessary for the first audit. Check whether the name of the asset, the location of the house, the floor area, the number of the property right certificate, the date of issuance, the issuing authority, the original value, etc. are consistent. [gf]2764[gf][gf]fe0f[gf]whether there is a home mortgage. It is necessary to disclose the mortgage situation, such as the name of the mortgaged asset, the address of the mortgage, the area of the mortgage, the number of the property right certificate, the original book value and net value, the nature of the mortgage, etc. and obtain a copy and stamp.
Check whether it is consistent with obtaining the latest credit report. Obtain a mortgage guarantee contract, verify the maximum guarantee amount and the actual mortgage amount, etc.
b.Vehicle warrant inspection, obtain vehicle driving license, check asset name, driving license number, motor vehicle registration certificate information, registration date, original book value, net book value, annual inspection deadline. And obtain a copy of the property right certificate and stamp.
Note: In the construction industry, most of the fixed assets and inventories in the real estate industry are housing buildings, and attention should be paid to distinguishing whether they are self-used office buildings or commercial houses for sale or schools and government buildings (most of the urban investment companies are helping with urban construction planning, etc.). A lot of accountants are closing their eyes to fixed assets. If the name of the right holder on the warrant is inconsistent with the name of the customer, the customer shall be requested to explain in writing, and the written statement of the right holder on the warrant shall be obtained. For example, the car that transports dangerous goods requires specific qualifications, and if the enterprise does not have qualifications, it can only be hung in the name of the qualified unit.
Step 7: Check whether the follow-up expenditure of fixed assets meets the conditions for asset recognitionIf not, check whether the expense is included in the profit or loss for the current period when the subsequent expense is incurred.
Step 8: Determine whether there is impairment of fixed assets.
The main thing is to look at idleness, and the list of fixed assets of some enterprises will be indicated, and if there is none, you need to monitor the inventory to see if there are assets that look like waste. (Some also need to look at the industry, the industry decay, the relevant assets should also be tested for impairment, such as the market price of the audited unit's fixed assets is large, and it is expected that it is impossible to recover in the near future).
Step 9: Make proper presentation and disclosure in the financial statements in accordance with the provisions of the Accounting Standards for Business Enterprises.
Other situations that need to pay attention to whether there are fixed assets to related parties to judge whether the transaction is true and fair.
Note: The judgment that the fixed asset has reached the predetermined usable state
For example, the impact of the unfinished supporting facilities on the judgment of whether the fixed assets of the main body have reached the intended usable state).
Question: In the case that the supporting line is not completed and the wind power enterprise is unable to send electricity, does the trial operation of the 240 indicate that the wind turbine has reached the predetermined usable state as a single asset?
Case: A Wind Power Generation*** In September 2021, 16 units (A Wind Power) were put into trial operation using the B Wind Power *** line.
The power generation line has not been built), the trial operation income is settled by the provincial power company and the wind power generation company, and the wind power generation project under construction has not been reduced, of which 13 units have passed the 240 trial operation, but because the wind power generation line itself has not been built, the 13 units have not been consolidated. In April 2022, after the construction of the wind power line, 13 units will be converted to consolidation and depreciation will be provided.
Answer: According to Article 13 of the Accounting Standards for Business Enterprises No. 17 - Borrowing Costs, it can be seen that the judgment of whether a fixed asset has reached the intended usable state is mainly based on its own technical state. In this case, the transmission line is a separate fixed asset, and the 240 trial operation was completed with the transmission lines of other companies during the trial operation, indicating that the physical construction (including installation) of such fixed assets (wind turbines) has been fully completed or substantially completed;And the technical status of the unit itself has been consistent with the design requirements, contract provisions or production requirements or basically consistent;It is foreseeable that the amount of expenditure that will continue to be incurred on such units will be minimal or almost non-existent. That is, it has met the criteria for judging "reaching the intended usable state" as set forth in the borrowing cost guidelines. The fact that the 240 trial operation was completed by using the transmission lines of other companies shows that the company's own transmission lines and units are not interdependent fixed assets that must be put into use at the same time, so the fact that the transmission lines have not yet reached the predetermined usable state does not affect the judgment of whether the unit itself has reached the predetermined usable state.
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