How to account for the assets of the profit is an accounting treatment issue, which needs to be judged on a case-by-case basis. The relevant knowledge points are summarized into four points, and we will take "fixed assets" as an example to share the accounting treatment of profit and loss
Knowledge point 1:Generally speaking, if the value of the assets is low and it is within the normal business scope of the enterprise, it can be directly included in the current profit or loss. Specifically, it is necessary to calculate the net value of the surplus asset first, and then include it in the corresponding account according to the account to which it belongs.
For example, if the profit is a fixed asset, it needs to be included in the "Fixed Assets" account; If the profit is inventory, it needs to be included in the "Inventory" account.
Knowledge point 2:Take "fixed assets" as an example for accounting processing.
First, the accounting treatment of fixed assets surplus:
There is a significant difference between the accounting treatment of the new standard and the old standard, with the old system included in "property losses and losses to be disposed of - fixed assets to be disposed of", and the new system included in "profit and loss adjustments for previous years".
The possibility of an enterprise's fixed assets being overcounted or omitted in the previous accounting period must be caused by an enterprise's understatement or omission in the previous accounting period, and it should be corrected as an accounting error.
The recorded value of fixed assets shall be determined in accordance with the following provisions:
If there is an active market for the same or similar fixed assets, the recorded value shall be recorded according to the market ** of the same or similar fixed assets, minus the estimated value loss of the asset according to the newness of the asset; If there is no active market for the same or similar fixed assets, the present value of the expected future cash flows of the fixed asset shall be recorded as the recorded value.
1. The occurrence of fixed assets surplus.
Borrow: Fixed assets.
Credit: Accumulated depreciation.
Prior Year Profit and Loss Adjustments.
2. Adjust enterprise income tax
Debit: Profit and loss adjustments for prior years.
Credit: Tax payable - Income tax payable.
3. Adjust the balance of the "Profit and Loss Adjustment for Previous Years" account to the "Profit Distribution" account
Debit: Profit and loss adjustments for prior years.
Credit: Profit distribution - undistributed profits.
Second, the accounting treatment of fixed assets inventory loss:
The fixed assets that are lost in the property inventory of an enterprise shall be accounted for through the account of "property loss and excess to be disposed of - loss and excess of fixed assets to be disposed of", and the loss caused by the inventory loss shall be accounted for through the account of "loss and loss of non-operating expenses" and shall be included in the profit or loss for the current period.
1. Before approval:
Borrow: Loss and excess of property to be disposed of - Loss and excess of fixed assets to be disposed of.
Accumulated depreciation. Provision for impairment of fixed assets.
Credit: Fixed Assets.
2. After approval:
Recoverable Insurance Compensation or Fault Compensation:
Debit: Other receivables - xx
Credit: Property Loss and Excess to be Handled - Loss and Excess of Fixed Assets to be Treated.
By the amount that should be included in non-operating expenses:
Borrow: Non-operating expenses - inventory loss.
Credit: Property Loss and Excess to be Handled - Loss and Excess of Fixed Assets to be Treated.
Knowledge point 3:If the value of the assets is relatively high, or if it is not within the normal scope of business of the enterprise, it is necessary to determine its recorded value according to the methods of asset valuation or replacement cost. Specifically, it is necessary to evaluate or estimate the assets according to their newness, market ** and other factors, and then include them in the corresponding accounts according to the evaluation or estimation results.
Knowledge point 4:In addition to determining the recorded value of the surplus asset, it is also necessary to determine its depreciation or amortization period according to the actual situation. If the surplus is a fixed asset, it is necessary to determine its remaining service life according to its use status, wear degree and other factors, and then calculate the depreciation according to the corresponding depreciation method; If the profit is an intangible asset, the amortization period needs to be determined according to factors such as the period of legal protection.
AnywayHow to record the assets of the profit needs to be judged and processed according to the specific situation. In practice, it is necessary to follow relevant accounting standards and laws and regulations to ensure the accuracy and compliance of accounting treatment.
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Profit and loss