Presentation on theme: "Tutorial: Business Academy Topic: Long-term assets – acquisition, records, disposal Prepared by : Ing. Jana Šustrová Projekt Anglicky v odborných předmětech,"— Presentation transcript:
Tutorial: Business Academy Topic: Long-term assets – acquisition, records, disposal Prepared by : Ing. Jana Šustrová Projekt Anglicky v odborných předmětech, CZ.1.07/1.3.09/04.0002 je spolufinancován Evropským sociálním fondem a státním rozpočtem České republiky.
When replacing existing equipment that is physically worn When exchanging out of date equipment (new technologies bring savings) When expanding production of already existing products (current capacity is insufficient) When introducing new products, expanding information into new markets When concerning mandated investments e.g. Due to occupational health and safety (OHS), enviromental protection
purchase own production donation transfer from individual ownership of the businessman assets deposit by partners new findings (in inventory) financial leasing
Financial leasing = leasing of the property based on the lease purchase contract and its repurchase. Tangible assets become companys property when it is fully paid up. Operational leasing = long-term lease, after its end the property is returned to the leasing company. Instalment sale = property acquisition under the purchase agreement. It becomes companys property immediately after signing the contract.
Property becomes fixed assets at the time of commissioning. If the property is put into use, it means the security of all technical functions required for use and fulfilment of all obligations imposed by legislation. For example the building, fire, environmental and hygiene regulations. When considering the property, the condition is satisfied by issuing the certificate of occupancy, land registration etc. Document permitting the use can be for example Protocol on the putting into use.
Inventory cards or inventory book Minimum content of inventory card: Name, property description, its numeral designation Valuation Date and method of acquisition Data concerning method of depreciation Depreciation for each year Residual price Date and method of disposal
Additional information: Depreciation group, annual rate or coefficient Accumulated depreciation Model SITC (Standard International Trade Classification) Serial number, asset number, license plate etc. Details of the technical evaluation Property location Technical specifications – capacity, loading capacity, dimensions Data concerning regular servicing
Training of workers (machine operators, disruption avoidance, machine adjustment..) Regular maintenance (fuses or oil replacement..) Repairs In terms of scale - regular - general In terms of execution time- preventive - subsequent
Disposal due to physical of moral depreciation Sale Donation Transfer to private ownership Transfer to another company As a result of damage or theft When disposing, usable materials can be obtained – parts, building materials, spare parts, etc.
1. By means of which ways is it possible to get fixed assets? 2. When may the property be put into use? 3. Name the card inventory requirement 4. Explain the difference between financial and operative leasing 5. Which advantages and disadvantages do you find in financial leasing?
Štohl, P. Učebnice účetnictví 2011 – 2. díl pro střední školy a pro veřejnost. Znojmo: NAKLADATELSTV Í ŠTOHL PAVEL ING. – VZDĚLÁVACÍ STŘEDISKO,2011. ISBN 978-80-87237-36-6 Švarcová J. a kol. Ekonomie -stručný přehled, teorie a praxe aktuálně a v souvislostech. Zlín: TOPPEX, s. r. o., 2009. ISBN 978-80-903433-7-5 Klínský P., Münch O. Ekonomika pro obchodní akademie a ostatní střední školy. Praha: EDUKO nakladatelství, s. r. o.,2008, ISBN 978-80-87204-03-0