Can a budgetary institution have a foreign currency account. Accounting for foreign exchange transactions (PBU, transactions)
"Advisor to the accountant in health care", 2008, N 3
IN modern world in the context of globalization and international cooperation, many organizations, including budgetary institutions, enter into international relations with citizens, organizations, institutions of other states and carry out currency transactions.
We will talk in this article about what types of currency transactions can be carried out by a healthcare institution and what requirements must be met in this case. And in the next issues of the journal we will consider in more detail the subtleties of the implementation documenting and budget accounting certain types such operations.
Types of foreign exchange transactions of budgetary healthcare institutions
Of course, foreign exchange transactions are carried out by budgetary health care institutions relatively infrequently, but they can be very important.
For example, communication and exchange of experience with foreign colleagues during international symposia and congresses - in general, in the process of foreign business trips of workers of healthcare institutions of various levels and profiles, can be invaluable. Therefore, many accountants are faced with the problem of documenting and accounting for transactions related to foreign business trips.
This problem is exacerbated if the business trip is related not simply to participation in a conference or symposium, but to training, internship or advanced training of the employee. Indeed, in this case, in addition to payment travel expenses it is also necessary to reflect in the accounting the cost of the training provided.
Currency operations also arise if the institution decides to purchase modern medical equipment or materials abroad. In this case, you must also take into account the requirements of customs legislation in relation to the import of valuables.
Large Russian medical centers also accept foreign patients and provide them with paid medical services, which can be paid for in foreign currency.
Thus, in the next issues of the journal, we will have to consider a number of interesting questions:
- organization, budget accounting and taxation of foreign business trips;
- organization, accounting and taxation of employee training abroad;
- customs clearance, accounting and taxation of import of medical equipment;
- reception of foreign delegations by Russian medical centers;
- provision of paid medical services for foreign currency.
Regulatory framework for the implementation and budgetary accounting of foreign exchange transactions
In any case, when carrying out currency transactions, a budgetary health care institution must strictly comply with the requirements of the current currency legislation, and above all - Federal Law of 10.12.2003 N 173-FZ "On Currency Regulation and currency control"(hereinafter - Law N 173-FZ).
In accordance with paragraphs. 6 p. 1 of Art. 1 of Law N 173-FZ, all legal entities created in accordance with the legislation of the Russian Federation, including Russian budgetary institutions, are recognized as residents, like the Russian Federation itself, constituent entities of the Russian Federation and municipalities participating in monetary relations.
According to Art. 6 of Law N 173-FZ, at present, currency transactions between residents and non-residents are carried out without restrictions, with the exception of transactions for the purchase and sale of foreign currency and checks denominated in foreign currency, which are mandatory must be carried out through authorized banks. The rest of the restrictions have now been lifted.
The bodies of foreign exchange regulation in Russia in accordance with Art. 5 of Law N 173-FZ are the Central Bank of the Russian Federation and the Government of the Russian Federation. Therefore, when carrying out foreign exchange transactions, it is also necessary to comply with the requirements of the instructions and guidelines. The Central Bank RF.
In accordance with the Decree of the Government of the Russian Federation of November 26, 2007 N 803 "On the conduct of currency transactions by the Federal Treasury", which entered into force on December 11, 2007, the Federal Treasury is currently empowered to carry out all types of currency transactions regulated by Law N 173 -FZ, no restrictions.
According to paragraphs. 9 p. 1 of Art. 1 of Law N 173-FZ, currency transactions, in particular, include:
- acquisition by a resident from a resident and alienation by a resident in favor of a resident currency values(foreign currency and external valuable papers) on the legal grounds, as well as the use of currency values as a means of payment;
- acquisition by a resident from a non-resident or a non-resident from a resident and alienation by a resident in favor of a non-resident or by a non-resident in favor of a resident of currency values, Russian currency and domestic securities on a legal basis, as well as the use of currency values, Russian currency and domestic securities as a means of payment;
- import into the customs territory of the Russian Federation and export from the customs territory of the Russian Federation of currency values, Russian currency and domestic securities;
- transfer of foreign currency, Russian currency, internal and external securities from an account opened outside the territory of the Russian Federation to the account of the same person opened in the territory of the Russian Federation, and vice versa - from an account opened in the territory of the Russian Federation to the account of the same person opened outside the territory of the Russian Federation;
- as well as a number of other transactions involving non-residents.
When reflecting currency transactions in accounting, of course, you need to adhere to the requirements of the Instruction on budget accounting approved by Order of the Ministry of Finance of Russia dated February 10, 2006 N 25n, as well as be guided by the explanations of the Ministry of Finance of Russia and the Federal Treasury, in particular, the Clarifications on the procedure for reflection in budget accounting and reporting operations with funds in foreign currency (Appendix to the Letter of the Federal Treasury dated 23.12.2005 N 42-7.1-01 / 2.4-385).
General principles of accounting for foreign exchange transactions of a budgetary institution
To begin with, we note that the Budgetary Accounting Instruction N 25n provides for the possibility of accounting for the following currency transactions and currency values:
one). cash transactions with currency and, accordingly, the movement of cash foreign currency in the cash desk of the institution on account 0 20104 000 "Cashier". In this case, as in the case of cash transactions in rubles, a cash book is kept, but the receipt and expenditure of cash Money in foreign currency are kept on separate sheets of the Cash Book (form 0504514) by types of foreign currencies;
2). funds in foreign currency received at the temporary disposal of the institution on account 0 20102 000 "Funds of the institution in temporary disposal";
3). funds in foreign currency in transit, subject to accounting on account 0 20103 000 "Institutional funds in transit";
4). letters of credit in foreign currency, the movement of funds on which is reflected on account 0 20106 000 "Letters of credit";
five). operations for converting the currency of the Russian Federation (rubles) into foreign currency, which should be reflected in the credit of accounts 0 20101 610 "Disposals of funds of an institution from bank accounts" and 0 20103 610 "Disposals of funds of an institution in transit" in correspondence with the debit of accounts 0 20103 510 "Receipts of funds of the institution in transit" and 0 20107 510 "Receipts of funds of the institution to accounts in foreign currency", as well as "reverse" operations to convert foreign currency into rubles, which, accordingly, should be reflected in the credit of accounts 0 20107 610 " Outflows of funds of an institution from accounts in foreign currency "and 0 20103 610" Disposals of funds of an institution in transit "in correspondence with the debit of accounts 0 20103 510" Receipts of funds of an institution in transit "and 0 20101 510" Receipts of funds of an institution to bank accounts ";
6). as well as transactions on the movement of funds of the institution in foreign currency on account 0 20107 000 "Funds of the institution in foreign currency" in the Journal of operations with non-cash funds on the basis of the documents attached to the account statements, and you need to keep records in rubles, carrying out the recalculation currency amounts at the rate of the Central Bank Russian Federation at the date of transactions in foreign currency, and it is also necessary to take into account that the revaluation of funds in foreign currencies is carried out not only at the date of transactions in foreign currency, but also at reporting date.
In accordance with clause 102 of the Instruction on budgetary accounting N 25n, account 0 20107 000 "Institutional funds in foreign currency" is intended to record transactions with funds in foreign currency in two cases:
one). if these operations are not carried out through the bodies carrying out cash service execution of budgets (then entries are made on account 1 20107 000);
2). in case the data currency funds were obtained from activities that generate income (then account 2 20107 000 is used).
Consequently, from a literal reading of Instruction No. 25n, it can be concluded that this account is not provided for reflecting the receipt of budget funds in foreign currency, if the personal accounts of institutions are served in the OFK. However, in the explanations given in the Letter of the Federal Treasury of December 23, 2005 No. 42-7.1-01 / 2.4-385, already mentioned in this article, "On the procedure for reflecting transactions with foreign currency funds in budgetary accounting and reporting", it is proposed to use account 0 20107 000 "Institutional funds in foreign currency" and when servicing a personal account with an OFK.
Associate Professor of the Department
"Accounting and Audit"
Kurgan branch of AT and SO,
expert consultant
ID "Accountant's Advisor"
What transactions should be made to convert euros into dollars? (There is euros, but you have to pay the supplier in dollars. The bank offered to carry out the conversion without selling euros and buying dollars, in converting directly from euros to dollars. This is more profitable - we less money lose on the difference in rates.)
For conversion, the rate set by the bank is taken. This procedure follows from part 7 of Article 14 of the Law of December 10, 2003 No. 173-FZ. At the same time, the conversion of funds in the foreign currency account into rubles as of the date of the conversion is carried out at the official rate of the Bank of Russia (paragraph 1, clause 5 and clause 6 of PBU 3/2006). This means that if the commercial cross-rate of the bank is more profitable for the organization than the official one, it generates other income (clause 7 of PBU 9/99). If the commercial cross-rate is less profitable, the organization must include the resulting difference in other expenses (clause 11 of PBU 10/99).
Reflection in accounting of the operation for the conversion of one foreign currency into another, if the commercial cross-rate of the bank is more profitable for the organization than the official one, the following will be:
Debit 76 Credit 91-1
- reflected other income from the conversion operation.
Reflection in accounting of operations for the conversion of one foreign currency into another, if the commercial cross-rate of the bank is less profitable for the organization than the official one, the following will be:
Debit 76 Credit 52 "Currency account in euros"
Currency funds were debited from the currency account in euros for conversion;
Debit 52 "Currency account in US dollars" Credit 76
- currency funds are credited to the currency account in US dollars after the conversion;
Debit 91-2 Credit 76
- reflected other expenses from the conversion operation.
The reflection in accounting of the conversion of current currency amounts from one currency to another by direct translation (conversion) of currencies will be as follows:
1. Debit 52-1 Credit 52-1
The ruble equivalent was calculated at the write-off rate as of the date of conversion in the old currency. The ruble amount of the equivalent was recalculated from one currency to another at the rate of enrollment at new currency
2. Debit 52-1 (91-2) Credit 91-1 (52-1)
Reflected on other incomes recalculation of the resulting exchange rate differences in rubles in the old currency when the exchange rate of the Central Bank of the Russian Federation exceeds the write-off rate on the day of currency translation or Reflected on other expenses recalculation of the arisen exchange rate differences in rubles in the old currency when the write-off rate exceeds the rate of the Central Bank of the Russian Federation on the day of conversion currencies
3. Debit 52-1 (91-2) Credit 91-1 (52-1)
Reflected on other incomes recalculation of the resulting exchange rate differences in rubles in a new currency when the exchange rate of the Central Bank of the Russian Federation exceeds the write-off rate on the day of currency translation or Reflected on other expenses recalculation of the resulting exchange rate differences in rubles in the new currency when the write-off rate exceeds the rate of the Central Bank of the Russian Federation on the day of conversion currencies
4. Debit 91-2Credit 52-1
Reflected the bank's commission on operations related to currency translation as part of other expenses of the organization (in ruble equivalent at the exchange rate of the Central Bank of the Russian Federation on the date of translation of the old currency)
A detailed procedure for reflecting currency conversion transactions in the accounting is contained in the materials of the Glavbuh System
1.Situation: How to reflect the conversion of foreign currency in accounting. The organization has an account in one currency, and settlements through it are carried out in another currency
Example reflection in accounting of operations for the conversion of one foreign currency into another. The commercial cross-rate of the bank is more profitable for the organization than the official one
The commercial cross-rate of the bank at the date of the transaction is 1.36 USD / EUR. For the purchase of euros, 13,600 USD (10,000 EUR? 1.36 USD / EUR) were debited from the organization's foreign currency account.
The Bank of Russia rate (conditionally) was:
- for the euro - 40.60 rubles / EUR;
Consequently, the organization carried out the conversion of foreign currencies at a more favorable rate for itself (13 600 USD
- 403,920 rubles. (13 600 USD? 29.70 rubles / USD) - currency funds were debited from the currency account in US dollars for conversion;
Debit 76 Credit 91-1
- 2080 rubles. (406,000 rubles - 403,920 rubles) - reflected other income from the conversion operation.
An example of the reflection in accounting of the operation for the conversion of one foreign currency to another. The commercial cross-rate of the bank is less profitable for the organization than the official one
CJSC "Alpha" has entered into a foreign trade contract, payment for which must be made in euros. Alpha has USD 14,000 in its foreign currency account. To carry out the transaction, Alpha instructs the bank to convert US dollars to receive 10,000 euros.
The commercial cross-rate of the bank at the date of the transaction is 1.38 USD / EUR. For the purchase of euros, 13,800 USD (10,000 EUR? 1.38 USD / EUR) was debited from the organization's foreign currency account.
The US dollar exchange rate established by the Central Bank of the Russian Federation on the day of conversion was (conditionally):
- for the euro - 40.60 rubles / EUR;
- for the US dollar - 29.70 rubles / USD.
Consequently, the cross-rate of the US dollar against the euro, calculated based on the official exchange rates of these currencies against the ruble, is 1.367 USD / EUR (40.60 rubles / EUR: 29.70 rubles / USD).
Consequently, the organization carried out the conversion of foreign currencies at a less favorable rate for itself (USD 13,800> USD 13,670 (EUR 10,000? USD / EUR 1.367)).
The following entries were made in accounting:
Debit 76 Credit 52 "Currency account in US dollars"
- 409 860 rubles. (13,800 USD? 29.70 rubles / USD) - currency funds were debited from the currency account in US dollars for conversion;
Debit 52 "Currency account in euros" Credit 76
- 406,000 rubles. (10,000 EUR? 40.60 rubles / EUR) - funds were credited to the currency account in euros after the conversion;
Debit 91-2 Credit 76
- 3860 rubles. (409,860 rubles - 406,000 rubles) - reflected other expenses from the conversion operation.
Oleg Khoroshy
state councilor tax service RF rank II
2. Article: 6.3. Foreign exchange accounts
Reflection in accounting of the conversion of current currency amounts from one currency to another by direct translation (conversion) of currencies.
Debit |
Credit |
||
The ruble equivalent was calculated at the rate of write-off as of the date of conversion in the old currency. The ruble amount of the equivalent was recalculated from one currency to another at the rate of enrollment in the new currency |
In continuation of the topic started, we suggest that you familiarize yourself with the features of the reflection of the most common foreign exchange transactions in the accounting of state employees.
Currency transactions in accounting are almost no different from transactions carried out in national currency... However, there are some nuances that are unique to the currency. These include, in particular, the acquisition, recalculation in the national currency on the date of the economic operation or balance sheet, the reflection of exchange rate differences, etc. It is on these operations that we propose to dwell in more detail.
So, first, let's find out what activities need to be carried out by a budgetary institution in order to acquire currency.
Buying currency
Recall: the main regulatory navigators for a budgetary institution when buying currency are,,, and.
The acquisition of foreign currency by the manager of budgetary funds is carried out not only with the participation of an authorized bank, but also the Treasury.
application-order for collateral in foreign currency according to the form
supporting documents(contracts concluded with non-residents; acceptance certificates, invitations, tickets, invoices, calculation of business trip expenses, etc.)
registers budget commitments and budget financial commitments
payment order to transfer from the registration account the hryvnia equivalent of the transferred funds in foreign currency
payment order for the transfer of funds from the respective accounts in national currency for the purchase of foreign currency at the MVRU
calculation of foreign currency equivalent to national currency *
Having received everything from a budgetary institution Required documents The Treasury, based on the funds available in its foreign currency account, decides to transfer funds from the foreign currency account to the institution's account opened at the bank's institution.
After making the appropriate decision, the Treasury prepares payment document to transfer funds in foreign currency from the Treasury account to the foreign currency account of a budgetary institution specified in the order application. In this case, the hryvnia equivalent of the transferred currency on the same day, based on the submitted registers of budgetary obligations and budgetary financial obligations, as well as the payment order, is transferred (debited) from the registration account of the budgetary institution.
Stage 2. Transfer of funds from the registration account of the institution
At this stage, the Treasury transfers funds in national currency to an authorized bank from a registration account opened in the name of a budgetary institution in the Treasury to purchase currency and pay the corresponding commission.
In turn, the bank transfers the funds from the registration account to a separate analytical account of the balance account 2900 "Accounts payable on operations for the purchase and sale of foreign currency, banking and precious metals for bank clients ".
From this account, funds can be transferred for the purchase of foreign currency not earlier than the next operating day from the day the hryvnia is credited to this account.
The authorized bank transfers to account 2900 such an amount of funds in hryvnia, which is sufficient to carry out transactions for the purchase of the volume of foreign currency indicated in the application, converted at the rate of hryvnia to foreign currency on the day the funds in hryvnia are credited to the account 2900, but not lower than the official rate of the hryvnia to foreign currency set by the National Bank for that day ().
Since the foreign currency exchange rate on the day of the transaction for its purchase may change, the authorized bank in this case is allowed to additionally credit funds in hryvnia to account 2900 in an amount that is not enough to fulfill the client's application for the purchase of foreign currency.
If the institution does not have the opportunity to transfer an additional amount of hryvnia for the purchase of foreign currency and the client agrees to purchase a smaller amount of foreign currency, then the bank purchases foreign currency for an amount less than that indicated in the application for the purchase of foreign currency.
Stage 3. Crediting currency to a bank account opened in the name of the institution
At this stage, the bank credits the purchased currency to the institution's foreign currency account.
After the currency has entered the institution's account, it is necessary to vigilantly monitor the period of its presence in this account, since there are temporary NS e restrictions on finding such currency on accounts.
Currency on a business trip
Foreign exchange expenses of a posted worker (according to the approved one) in the amount of the issued advance are recalculated into the national currency at the exchange rate of start of the day dates receiving an advance.
In the event of cost overruns during a business trip, that is, expenses exceeding, in accordance with the approved amount of the advance payment, they are converted into hryvnia at the exchange rate at the beginning of the day dates report approval about the use of funds ().
As for the exchange rate differences by monetary items, they are determined twice: the first time - on the date implementation business transaction , and second - on the balance sheet date(as of the reporting date) ().
In the first case, all relevant monetary items are recalculated using the exchange rate at the end of the day dates business operations.
In the second - to determine exchange rate differences on the balance sheet date (reporting date) - the exchange rate is applied at the end of the day of the reporting date.
Finally, let's look at typical wiring related to the main foreign exchange settlements at ordinary activities institutions. For convenience, we present them in tabular format (see Table 2).
table 2
P / p No. | Correspondence of subaccounts |
||
Debit | Credit |
||
Issuance of foreign currency on account | |||
2. Instruction No. 492- Instructions on the procedure for opening, using and closing accounts in national and foreign currencies, approved. 3. NP (S) BUgs 130 – National position(standard) accounting in public sector 130 "Impact of changes exchange rates"approved. 4. Order number 1407- Treasury service procedure state budget for expenses approved. 5. Order No. 938- Treasury service procedure local budgets approved. 6. Regulation No. 281- Regulation on the procedure and terms of foreign exchange trading, approved. 8. Recommendation Method No. 68- Methodological recommendations regarding the list of supporting documents for the registration of budgetary commitments, budgetary financial commitments and payments, approved. _____________________________________________ At the time of the quotation of any materials, distributed from the whole product LIGA: LAW, according to LIGA: LAW of obov "language. |
The accounting of the company is carried out in accordance with the requirements current legislation in the field of accounting.
This legislation consists of the following pieces of legislation:
- Federal Law "On Accounting" No. 129-FZ dated November 21, 1996,
- other Federal laws,
- Decrees of the President of the Russian Federation,
- Government Resolutions,
- Orders of the Ministry of Finance (including PBU),
- Other regulatory documents.
- property,
- obligations,
- business transactions,
However, if the organization implements entrepreneurial activity with the involvement of foreign partners, the company cannot do without foreign exchange transactions.
Such an organization needs to buy and sell currency, as well as issue passports of transactions in order to comply with currency control procedures.
Foreign currency transactions are regulated by Federal law from 10.12.2003. No. 173-FZ "On currency regulation and currency control."
Moreover, according to clause 2. Article 11 of Law 129-FZ, accounting for the organization's foreign currency accounts and operations in foreign currency is maintained in rubles based on the conversion of foreign currency at the exchange rate of the Central Bank of the Russian Federation on the date of the transaction.
Thus, for the correct organization of accounting for foreign exchange transactions, the moment of determining the date of the transaction is very important.
It is the date of the business transaction in foreign currency that determines the foreign currency rate, on the basis of which the company's accountant will convert foreign currency into Russian rubles.
This article will consider the provisions of the current legislation that determines the procedure for regulating foreign exchange settlements, as well as the current procedure for accounting for foreign exchange transactions.
PROVISIONS OF THE CURRENT LEGISLATION ON FOREIGN EXCHANGE TRANSACTIONS
In accordance with clause 1 of article 6 of Law No. 173-FZ, foreign exchange transactions between residents and non-residents are carried out without restrictions.
It should be noted that in accordance with the provisions of Article 9 of Law No. 173-FZ, operations in foreign currency are prohibited. between residents RF.
There are exceptions to this rule, a list of which is given in the same article.
So, in accordance with paragraph 1 of Article 9 of Law No. 173-FZ, this prohibition does not apply to foreign exchange transactions between residents and authorized banks related to:
- with the receipt and return of loans and borrowings, payment of interest and penalties under the relevant agreements;
- with the deposit and receipt of funds of residents to bank accounts (in bank deposits) (on demand and for a specified period);
- with bank guarantees, as well as with the fulfillment by residents of obligations under contracts of surety and pledge;
- with the acquisition by residents from authorized banks of bills of exchange issued by these or other authorized banks, presentation of them for payment, receipt of payment thereon, including by way of recourse, collection of fines on them, as well as with the alienation by residents of these bills of exchange to authorized banks;
- with payment of commission to authorized banks;
- with other foreign exchange transactions attributed to banking operations in accordance with the legislation of the Russian Federation.
At the same time, some foreign exchange transactions between residents are still allowed (clause 6.1 of article 12 of Law 173-FZ):
So, with the funds specified in clause 6 of article 12, the following currency transactions are carried out between residents without restrictions:
1. Payment operations wages employees:
- diplomatic missions,
- consular offices of the Russian Federation,
- other official representative offices of the Russian Federation located outside the territory of the Russian Federation,
- permanent missions of the Russian Federation at interstate or intergovernmental organizations.
3. Operations for payment or reimbursement of expenses related to the secondment of the above employees to the territory of the country of location of representative offices, institutions and organizations and outside of it, with the exception of the territory of the Russian Federation.
PBU 3/2006"Accounting for assets and liabilities, the value of which is expressed in foreign currency" (approved by the Order of the Ministry of Finance dated November 27, 2006 No. 154n).
PBU 3/2006 establishes the features of formation in accounting and accounting statements information on assets and liabilities, the value of which is expressed in foreign currency, including those payable in rubles.
This PBU applies to organizations that are legal entities according to the legislation of the Russian Federation.
Note:The provisions of PBU 3/2006 do not apply to credit institutions and state (municipal) institutions.
PBU 3/2006 is applied by organizations in all cases, with the exception of two. This PBU does not apply:
- When recalculating the indicators of financial statements drawn up in rubles into foreign currencies in cases of the requirement for such recalculations by the constituent documents, when concluding credit agreements with foreign legal entities, etc.
- When the data from the financial statements of subsidiaries (dependent) companies located outside the Russian Federation are included in the consolidated financial statements prepared by the parent organization.
At the same time, if a different rate is set for recalculating such an asset or liability value payable in rubles:
- by law,
- by agreement of the parties,
This means that the parties to the transaction can agree and fix in the contract any rate at which settlements between these parties will be made. Such a course is commonly referred to as a "negotiated course".
The provisions of clause 6 of PBU 3/2006 provide for the moment when it is necessary to recalculate the value of an asset or liability, expressed in foreign currency in rubles.
For accounting purposes, the specified conversion into rubles is made at the exchange rate in force on the date of the transaction in foreign currency.
According to the Appendix to PBU 3/2006, the following is established
LIST OF DATES OF SELECTED TRANSACTIONS IN FOREIGN CURRENCY
Foreign currency transaction | The date of the transaction in foreign currency is considered |
Bank account transactions ( bank deposits) in foreign currency. | Date of receipt (or date of debiting) funds to the bank account / deposit of the organization in foreign currency. |
Cash transactions with foreign exchange. | Date of receipt of foreign currency, monetary documents in foreign currency to the organization's cash desk or issuing them from the cash desk. |
Organization's income in foreign currency | Date of recognition of the organization's income in foreign currency. |
Organization's expenses in foreign currency, | Date of recognition of the organization's expenses in foreign currency. |
including: | Date of recognition: |
import of refineries. | expenses for the purchase of inventories. |
import service. | service costs. |
business travel expenses and business travel outside the territory of the Russian Federation. | date of approval of the expense report. |
Investments of the organization in foreign currency in non-current assets (fixed assets, intangible assets, etc.) | Date of recognition of costs that form the cost of non-current assets. |
In addition to the above list of dates, in accordance with clause 3 of PBU 3/2006, the date of the transaction in foreign currency is the day the organization rights according:
- with the legislation of the Russian Federation,
- agreement,
The provisions of clause 6 PBU 3/2006 allow:
- at irrelevant changes in the official exchange rate (CBR) of the currency against the ruble,
- when performing a large number of similar transactions in this currency,
At the same time, PBU 3/2006 does not provide for the procedure for determining such an average rate and the level of significance of changes in the official rate.
Therefore, if an organization wants to use this method, the procedure for determining the average rate must be developed independently and fixed in accounting policies for accounting purposes.
Also, the level of materiality of fluctuations in the exchange rate should be fixed in the accounting policy.
Recalculation of cost:
- cash and payment documents,
- securities (excluding shares),
- funds in settlements, including for loan obligations with legal and individuals(with the exception of funds received and issued advances and prepayment, deposits),
- on the date of the transaction in foreign currency,
- at the reporting date.
recalculation of the cost:
- banknotes at the cash desk of the organization,
- funds in bank accounts (deposits),
For the preparation of financial statements, the value of the above assets and liabilities is recalculated in rubles at the exchange rate in force on the reporting date (clause 8 of PBU 3/2006).
For the preparation of financial statements, the cost:
- investments in non-current assets (fixed assets, intangible assets, etc.),
- inventories,
- other assets not listed in clause 7 of PBU 3/2006,
- funds received and issued advances and advance payment, deposits,
- on the date of the transaction in foreign currency,
Note:Fixed assets, intangible assets, inventories and other assets of this kind, as well as received and issued advances at the reporting date are not revalued.
Assets and expenses that are paid by the organization:
- provisionally,
- on account of which the organization transferred an advance or a deposit,
- issued advance payment,
- deposit,
- prepayment,
Thus, the exchange rate at which the received or issued advance was accepted for accounting is determined as of the date of such receipt / payment.
Subsequently, upon receipt of assets or recognition of expenses of the organization, this rate no longer changes.
The income of the organization, subject to the receipt of:
- advance payment,
- deposit,
- prepayment,
- received advance payment,
- deposit,
- prepayment,
The exchange rate upon receipt of income in case of receipt of advances from buyers does not change at the time of recognition of income in terms of the received advance.
This approach is provided for by the provisions of PBU 3/2006.
Indeed, in accordance with clause 10 of PBU 3/2006, recalculation of cost:
- investments in non-current assets,
- assets listed in clause 9 of PBU 3/2006,
- funds received and issued advances, prepayment, deposits,
In accordance with clause 11 of PBU 3/2006, the exchange rate difference arising from:
1. For operations to repay (full or partial) receivables or payables, denominated in foreign currency.
The difference arises if the exchange rate at the date of fulfillment of payment obligations was different:
- from the rate at the date of acceptance of this receivable or payable to accounting in the reporting period;
- from the rate at the reporting date in which this receivable or accounts payable was recalculated for the last time.
In accordance with clause 12 of PBU 3/2006, the exchange rate difference is reflected in accounting and reporting in that reporting period:
- to which the date of fulfillment of payment obligations belongs;
- for which the accounting statements are drawn up.
- The exchange difference is to be credited to financial results organizations as other income or other expenses (except for cases provided for in clauses 14 and 19 of PBU 3/2006 or other regulatory legal acts on accounting) in accordance with clause 13 of PBU 3/2006.
- The exchange rate difference associated with settlements with the founders on contributions, including in the authorized (joint) capital of the organization, is subject to transfer to the additional capital of this organization (clause 14 of PBU 3/2006).
- The difference arising from the recalculation of the value of the assets and liabilities of the organization used to conduct business outside the Russian Federation, expressed in foreign currency, must be credited to the additional capital of the organization (clause 19 of PBU 3/2006).
Due to the fact that the peculiarities of accounting for foreign exchange transactions are mainly expressed in the timely conversion of currency into rubles at the established rate, and the rest accounting entries do not differ from accounting in rubles, we will give examples of accounting for exchange rate differences.
In accounting, exchange rate differences can be reflected using the following accounting accounts:
1. Reflection of positive and negative exchange rate differences in settlements with a foreign supplier.
- Account debit
- Account credit 91.1 "Other income"
- Account debit 91.2 "Other expenses"
- Account credit 60 "Settlements with suppliers and contractors"
2. Reflection of positive and negative exchange rate differences in settlements with a foreign buyer.
- Account debit
- Account credit 91.1 "Other income"
- Account debit 91.2 "Other expenses"
- Account credit 62 "Settlements with buyers and customers"
3. Reflection of differences arising from the revaluation of loan and credit liabilities.
- Account debit
- Account credit 91.1 "Other income"
- Account debit 91.2 "Other expenses"
- Account credit 66/67 "Settlements on short-term / long-term loans and borrowings"
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