Can a budgetary institution have a foreign currency account. Accounting for currency transactions (PBU, postings)
"Advisor to an accountant in healthcare", 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 about what types of currency transactions a healthcare institution can carry out and what requirements must be met in this article. And in the next issues of the magazine we will consider in more detail the intricacies of the implementation documentation and budget accounting certain types such operations.
Types of currency 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 symposiums and congresses can be invaluable - in general, in the process of foreign business trips for employees of healthcare institutions of various levels and profiles. Therefore, many accountants are faced with the problem of documenting and accounting for transactions related to business trips abroad.
This problem is exacerbated if the business trip is connected not just with participation in a conference or symposium, but with training, internship or advanced training of an employee. Indeed, in this case, in addition to payment travel expenses it is also necessary to reflect the cost of the training provided.
Currency operations also arise if an institution decides to acquire modern medical equipment or materials abroad. In this case, you must also take into account the requirements of customs legislation regarding the import of valuables.
Large Russian medical centers also accept foreign patients and provide them with paid medical services, payment for which can also be made in foreign currency.
Thus, in the following issues of the journal we have to consider a number of interesting questions:
- organization, budget accounting and taxation of business trips abroad;
- organization, accounting and taxation of training of employees abroad;
- customs clearance, accounting and taxation of imports of medical equipment;
- reception of foreign delegations by Russian medical centers;
- provision of paid medical services for currency to foreign citizens.
Regulatory framework for the implementation and budgetary accounting of foreign exchange transactions
In any case, when carrying out foreign exchange transactions, a budgetary healthcare institution must strictly comply with the requirements of the current foreign exchange legislation, and above all, Federal Law No. 173-FZ of December 10, 2003 "On foreign exchange regulation and currency control"(hereinafter - Law N 173-FZ).
In accordance with paragraphs. 6 p. 1 art. 1 of Law N 173-FZ, all legal entities established in accordance with the legislation of the Russian Federation, including Russian budgetary institutions, are recognized as residents, like the Russian Federation itself, the constituent entities of the Russian Federation and municipalities involved in currency 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 in without fail must be carried out through authorized banks. The rest of the restrictions have now been lifted.
The bodies of currency 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 instructions and instructions Central Bank RF.
In accordance with Decree of the Government of the Russian Federation of November 26, 2007 N 803 "On the conduct of foreign exchange transactions by the Federal Treasury", which entered into force on December 11, 2007, the Federal Treasury is currently vested with the authority to carry out all types of foreign exchange transactions regulated by Law No. 173 -FZ, without restrictions.
According to paragraphs. 9 p. 1 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 foreign 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 by 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, the currency of the Russian Federation and domestic securities on legal grounds, as well as the use of currency values, the currency of the Russian Federation 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, the currency of the Russian Federation and domestic securities;
- transfer of foreign currency, currency of the Russian Federation, internal and external securities from an account opened outside the territory of the Russian Federation to an 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 an 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 foreign exchange transactions in accounting, of course, you need to adhere to the requirements of the Instructions for budget accounting, approved by the Order of the Ministry of Finance of Russia dated February 10, 2006 N 25n, and also be guided by the explanations of the Ministry of Finance of Russia and the Federal Treasury, in particular the Clarifications on the procedure for reflecting transactions in foreign currency in budget accounting and reporting (Appendix to the Letter of the Federal Treasury dated December 23, 2005 N 42-7.1-01/2.4-385).
General principles for accounting for foreign exchange transactions of a budgetary institution
To begin with, we note that the Instruction on Budget Accounting 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 at 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 maintained on separate sheets cash book(f. 0504514) by types of foreign currencies;
2). funds in foreign currency received at the temporary disposal of the institution, on account 0 20102 000 "Cash of the institution at temporary disposal";
3). funds in foreign currency in transit, subject to accounting on account 0 20103 000 "Institution's funds in transit";
4). letters of credit in foreign currency, the movement of funds on which is reflected in account 0 20106 000 "Letters of credit";
five). transactions for the conversion of the currency of the Russian Federation (rubles) into foreign currency, which should be reflected in the credit of accounts 0 20101 610 "Disposal of funds of the institution from bank accounts" and 0 20103 610 "Disposal of funds of the 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 for the conversion of foreign currency into rubles, which, accordingly, should be reflected in the credit of accounts 0 20107 610 " Withdrawals of funds of an institution from accounts in foreign currency" and 0 20103 610 "Disposal 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 on bank accounts ";
6). as well as operations on the movement of funds of the institution in foreign currency on account 0 20107 000 "Cash of the institution in foreign currency" in the Journal of operations with non-cash funds on the basis of documents attached to account statements, and it is necessary to keep records in rubles, carrying out recalculation currency amounts at the rate of the Central Bank Russian Federation on the date of transactions in foreign currency, and it should also be taken into account that the revaluation of funds in foreign currencies is carried out not only on the date of transactions in foreign currency, but also on reporting date.
In accordance with clause 102 of Instructions for Budgetary Accounting N 25n, account 0 20107 000 "Cash of an institution in foreign currency" is intended for accounting for transactions with funds in foreign currency in two cases:
one). if these operations are not carried out through the bodies that carry out cash service execution of budgets (then entries are made on account 1 20107 000);
2). if the data currency funds were received from income-generating activities (then account 2 20107 000 is used).
Therefore, from a literal reading of Instruction N 25n, we can conclude that this account is not intended to reflect the receipt of budget funds in foreign currency if the personal accounts of institutions are serviced in OFK. However, in the explanations given in the Letter of the Federal Treasury of December 23, 2005 N 42-7.1-01 / 2.4-385 “On the procedure for reflecting operations with funds in foreign currency in budget accounting and reporting”, already mentioned in this article, it is proposed to use account 0 20107 000 "Funds of the institution in foreign currency" and when servicing a personal account in OFK.
Associate Professor of the Department
"Accounting and audit"
Kurgan branch of AT and SO,
expert consultant
Publishing House "Accountant's Advisor"
What should be done to convert euros to dollars? (There are euros, but you need to pay the supplier in dollars. The bank offered to convert without selling euros and buying dollars, to carry out the conversion immediately from euros to dollars. It’s more profitable - we less money we lose on the difference in rates.)
For the conversion, the course is taken, established by the bank. 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 a foreign currency account into rubles on the date of the conversion is carried out at the official exchange rate of the Bank of Russia (paragraph 1, clause 5 and clause 6 of PBU 3/2006). This means that if the bank's commercial cross-rate is more beneficial for the organization than the official one, it will generate other income (paragraph 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 PBU 10/99).
Reflection in accounting of an operation for the conversion of one foreign currency into another, if the commercial cross-rate of the bank is more beneficial for the organization than the official one, will be as follows:
Debit 76 Credit 91-1
– reflects other income from the conversion operation.
Reflection in accounting of an operation for the conversion of one foreign currency into another, if the commercial cross-rate of the bank is less beneficial for the organization than the official one, will be as follows:
Debit 76 Credit 52 "Currency account in euro"
Foreign currency funds were debited from a foreign currency account in euro for conversion;
Debit 52 "Currency account in US dollars" Credit 76
– foreign currency funds are credited to a foreign currency account in US dollars after the conversion;
Debit 91-2 Credit 76
- reflects other expenses from the conversion operation.
Reflection in accounting of the conversion of current currency amounts from one currency to another by direct transfer (conversion) of currencies will be as follows:
1. Debit 52-1Credit 52-1
The ruble equivalent amount was calculated at the write-off rate on the date of recalculation at old currency. The ruble equivalent amount was recalculated from one currency to another at the rate of transfer at new currency
2. Debit 52-1 (91-2) Credit 91-1 (52-1)
Reflected in other income 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 rate of debiting on the day of currency recalculation or Reflected in other expenses Recalculation of the resulting exchange rate differences in rubles in the old currency when the rate of debiting exceeds the exchange rate of the Central Bank of the Russian Federation on the day of recalculation currencies
3. Debit 52-1 (91-2) Credit 91-1 (52-1)
Reflected in other income recalculation of the resulting exchange rate differences in rubles in the new currency when the exchange rate of the Central Bank of the Russian Federation exceeds the rate of debiting on the day of currency recalculation or Reflected in other expenses Recalculation of the resulting exchange rate differences in rubles in the new currency when the rate of debiting exceeds the exchange rate of the Central Bank of the Russian Federation on the day of recalculation currencies
4. Debit 91-2Credit 52-1
The bank's commission for transactions related to currency conversion is reflected as part of the organization's other expenses (in ruble equivalent at the exchange rate of the Central Bank of the Russian Federation on the date of conversion of the old currency)
A detailed procedure for recording currency conversion transactions in accounting is contained in the materials of the Glavbukh System
1.Situation: How to reflect the conversion of foreign currency in accounting. The organization has an account opened in one currency, and settlements through it are carried out in another currency
Example reflection in accounting operations for the conversion of one foreign currency into another. The bank's commercial cross rate is more beneficial for the organization than the official one.
The commercial cross-rate of the bank on the date of the operation is 1.36 USD/EUR. To purchase euros, 13,600 USD (10,000 EUR ? 1.36 USD/EUR) was debited from the organization's currency account.
The exchange rate of the Bank of Russia (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. (USD 13,600 ? 29.70 RUB/USD) - foreign currency funds were debited from a foreign currency account in US dollars for conversion;
Debit 76 Credit 91-1
- 2080 rubles. (406,000 rubles - 403,920 rubles) - other income from the conversion operation is reflected.
An example of the reflection in accounting of an operation for the conversion of one foreign currency into another. The bank's commercial cross rate is less beneficial for the organization than the official one
CJSC Alfa has entered into a foreign trade contract, payment under which must be made in euros. Alpha has $14,000 in its foreign currency account. In order to carry out the transaction, Alfa instructs the bank to convert US dollars to receive 10,000 euros.
The commercial cross-rate of the bank on the date of the operation is 1.38 USD/EUR. To purchase the euro, 13,800 USD (10,000 EUR ? 1.38 USD/EUR) was debited from the organization's currency account.
The US dollar exchange rate set by the Central Bank of the Russian Federation on the day of the conversion was (conditionally):
- for the euro - 40.60 rubles / EUR;
- for the US dollar - 29.70 rubles / USD.
Therefore, the USD/EUR cross rate, calculated based on the official exchange rates of these currencies against the ruble, is 1.367 USD/EUR (40.60 RUB/EUR: 29.70 RUB/USD).
Consequently, the organization carried out the conversion of foreign currencies at a less favorable rate for itself (13,800 USD > 13,670 USD (10,000 EUR ? 1.367 USD / EUR)).
The following entries were made in accounting:
Debit 76 Credit 52 "Currency account in US dollars"
- 409 860 rubles. (USD 13,800 ? 29.70 RUB/USD) - foreign currency funds were debited from a foreign currency account in US dollars for conversion;
Debit 52 "Currency account in euro" Credit 76
- 406,000 rubles. (EUR 10,000 ? RUB 40.60/EUR) - foreign currency funds are credited to a foreign currency account in euro after the conversion;
Debit 91-2 Credit 76
- 3860 rubles. (409,860 rubles - 406,000 rubles) - other expenses from the conversion operation are reflected.
Oleg Good
state councilor tax service RF II rank
2. Article: 6.3. Currency accounts
Reflection in accounting of the conversion of current currency amounts from one currency to another by direct transfer (conversion) of currencies.
Debit |
Credit |
||
The ruble equivalent amount was calculated at the rate of write-off on the date of recalculation in the old currency. The ruble equivalent amount was recalculated from one currency to another at the rate of transfer in the new currency |
In continuation of the topic begun, we suggest that you familiarize yourself with the features of reflecting the most common currency 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, acquisition, conversion into national currency on the date of the economic operation or balance sheet, reflection of exchange rate differences, etc. It is on these operations that we propose to dwell in more detail.
So, for starters, let's find out what activities a budgetary institution needs to carry out in order to purchase currency.
Buying currency
Recall: the main regulatory navigators for a budgetary institution when buying a 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 with the Treasury.
application-instruction for providing foreign currency according to the form
supporting documents(contracts concluded with non-residents; acts of acceptance and transfer, invitations, tickets, invoices, calculation of travel expenses, etc.)
registries budget commitments and budgetary financial obligations
payment order for transfer from the registration account of the hryvnia equivalent of transferred funds in foreign currency
payment order for the transfer of funds from the relevant accounts in the national currency for the purchase of foreign currency at the MVRU
foreign currency calculation in equivalent to the national currency*
Having received everything from a budgetary institution Required documents The Treasury, based on the available funds in its foreign currency account, makes a decision to transfer funds from the foreign currency account to the account of the institution opened with the bank institution.
After the relevant decision is made, the Treasury prepares payment document to transfer funds in foreign currency from the account of the Treasury to the foreign currency account of a budget institution specified in the application-order. At the same time, the hryvnia equivalent of the transferred currency is transferred (debited) from the registration account of the budgetary institution on the same day on the basis of the submitted registers of budgetary obligations and budgetary financial obligations, as well as a payment order.
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 foreign currency and pay the appropriate commission.
In turn, the bank transfers funds from the registration account to a separate analytical account of the balance sheet 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 business day from the date of transfer of hryvnia to this account.
The authorized bank transfers to account 2900 such amount of funds in hryvnias that is sufficient to carry out transactions for the purchase of the amount of foreign currency indicated in the application, recalculated at the hryvnia to foreign currency rate on the day the funds in hryvnias are credited to account 2900, but not lower than the official hryvnia exchange rate to foreign currency, established by the National Bank for that day ().
Since the foreign exchange rate may change on the day of the transaction for its purchase, the authorized bank in this case is allowed to additionally credit funds in hryvnia to account 2900 in an amount not sufficient 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. Transfer of currency to a bank account opened in the name of the institution
At this stage, the bank credits the acquired currency to the foreign currency account of the institution.
After the currency has entered the account of the institution, it is necessary to carefully monitor the period of its stay in this account, since there are temporary s There are no restrictions on the presence of such currency on accounts.
Currency on a business trip
The foreign exchange expenses of a seconded worker (according to the approved one) in the amount of the advance payment issued are recalculated into the national currency at the exchange rate for start of the day dates receiving an advance.
In case of overspending during a business trip, that is, expenses exceeding the amount of the advance payment issued in accordance with the approved amount, they are recalculated into hryvnia at the exchange rate at the beginning of the day dates report approval about the use of funds ().
As for exchange rate differences on 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 the exchange rate differences on the balance sheet date (reporting date) - the exchange rate is applied at the end of the reporting date.
Finally, let's look at typical wiring associated with the main foreign exchange settlements at ordinary activities institutions. For convenience, we present them in a tabular format (see Table 2).
table 2
No. p / p | Correspondence of sub-accounts |
||
Debit | Credit |
||
Issuance of foreign currency under the report | |||
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 "The impact of change exchange rates" approved. 4. Order No. 1407– Treasury service procedure state budget on expenses, approved . 5. Order No. 938– Treasury service procedure local budgets, approved . 6. Regulation No. 281– Regulations on the procedure and conditions for trading in foreign currency, approved by . 8. Methodological recommendation No. 68 – Guidelines regarding the list of supporting documents for registration of budgetary obligations, budgetary financial obligations and making payments, approved. _____________________________________________ At the time of quoting or other materials, distribution of this product LIGA:ZAKON, reference to LIGA:ZAKON obov "language. |
Company accounting is carried out in accordance with the requirements current legislation in the field of accounting.
This legislation consists of the following legislative acts:
- Federal Law "On Accounting" No. 129-FZ dated November 21, 1996,
- other federal laws,
- Decrees of the President of the Russian Federation,
- Government Decrees,
- Orders of the Ministry of Finance (including - PBU),
- Other normative-legal documents.
- property,
- obligations,
- business transactions,
However, if an organization 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 draw up transaction passports in order to comply with currency control procedures.
Operations in foreign currencies are regulated federal law from 10.12.2003 No. 173-FZ "On currency regulation and currency control".
At the same time, according to paragraph 2. Article 11 of Law 129-FZ, accounting for the organization's foreign currency accounts and operations in foreign currency is kept in rubles on the basis of foreign currency conversion at the rate of the Central Bank of the Russian Federation on the date of the operation.
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 exchange 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 CURRENCY OPERATIONS
In accordance with paragraph 1 of Article 6 of Law No. 173-FZ, foreign exchange transactions between residents and non-residents carried out without restrictions.
At the same time, it should be noted that, in accordance with the provisions of Article 9 of Law No. 173-FZ, transactions in foreign currency are prohibited. between residents RF.
There are exceptions to this rule, a list of which is given in the same article.
Thus, 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 repayment of loans and borrowings, the payment of interest and penalties under the relevant agreements;
- with the deposit and receipt of residents' funds to bank accounts (bank deposits) (on demand and for a certain period);
- from bank guarantees, as well as with the fulfillment by residents of obligations under guarantee and pledge agreements;
- with the acquisition by residents of bills of exchange issued by these or other authorized banks from authorized banks, presenting them for payment, receiving payment on them, including by way of recourse, collecting penalties on them, as well as with the alienation by residents of the said bills of exchange to authorized banks;
- with the payment of commission to authorized banks;
- with other foreign exchange transactions related to banking operations in accordance with the legislation of the Russian Federation.
At the same time, some currency transactions between residents are still allowed (clause 6.1 of Article 12 of Law 173-FZ):
Thus, with the funds specified in paragraph 6 of Article 12, the following currency transactions are carried out between residents without restrictions:
1. Payment transactions 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 associated with the business trip of the above employees to the territory of the country where representative offices, institutions and organizations are located and beyond its borders, 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 financial 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 organizations 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 indicators of financial statements prepared in rubles into foreign currencies in cases where such recalculations are required by constituent documents, when concluding loan agreements with foreign legal entities, etc.
- When including data from the financial statements of subsidiaries (dependent) companies located outside the Russian Federation in the consolidated financial statements compiled by the parent organization.
At the same time, if a different exchange rate is set for recalculating such an asset or liability value payable in rubles:
- law,
- by agreement of the parties,
This means that the parties to the transaction can agree and fix in the contract any exchange rate at which settlements between these parties will be made. Such a rate is commonly referred to as a "negotiated rate".
The provisions of paragraph 6 of PBU 3/2006 provide for the moment when it is necessary to recalculate the value of an asset or liability denominated in a foreign currency into rubles.
For accounting purposes, the specified conversion into rubles is made at the rate applicable on the date of the transaction in foreign currency.
According to the Appendix to PBU 3/2006, the following
LIST OF DATES OF PERFORMANCE OF INDIVIDUAL OPERATIONS IN FOREIGN CURRENCY
Operation in foreign currency | The date of the transaction in foreign currency is considered |
Operations on bank accounts ( bank deposits) in foreign currency. | Date of receipt (or date of debiting) of funds to the organization's bank account/deposit in foreign currency. |
Cash transactions with foreign currency. | Date of receipt of foreign currency, monetary documents in foreign currency at the cash desk of the organization or their issue from the cash desk. |
Income of the organization in foreign currency | Date of recognition of the organization's income in foreign currency. |
Expenses of the organization in foreign currency, | Date of recognition of expenses of the organization in foreign currency. |
including: | Date of recognition: |
import of MPZ. | expenses for the acquisition of MPZ. |
service import. | service costs. |
expenses related to business trips and business trips outside the territory of the Russian Federation. | date of approval of the advance 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 value of non-current assets. |
In addition to the above list of dates, in accordance with paragraph 3 of PBU 3/2006, the date of the transaction in foreign currency is the day the organization the rights according:
- with the legislation of the Russian Federation,
- agreement,
The provisions of clause 6 of PBU 3/2006 allow:
- at insignificant change in the official exchange rate (Central Bank of the Russian Federation) of the currency against the ruble,
- when making a large number of homogeneous transactions in this currency,
At the same time, RAS 3/2006 does not provide for the procedure for determining such an average rate and the level of materiality 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 policy for accounting purposes.
Also in the accounting policy should be fixed and the level of materiality of fluctuations in the exchange rate.
Cost recalculation:
- cash and payment documents,
- securities (excluding shares),
- funds in settlements, including - on loan obligations with legal and individuals(with the exception of funds received and issued advances and advance payment, deposits),
- on the date of the transaction in foreign currency,
- at the reporting date.
cost recalculation:
- banknotes at the cash desk of the organization,
- funds in bank accounts (deposits),
For the preparation of financial statements, the recalculation of the value of the above assets and liabilities into rubles is carried out at the exchange rate in force on the reporting date (clause 8 of PBU 3/2006).
For the preparation of financial statements cost:
- investments in non-current assets (fixed assets, intangible assets, etc.),
- inventories,
- other assets not listed in clause 7 of PBU 3/2006,
- facilities advances received and paid and advance payment, deposits,
- on the date of the transaction in currency
Note:Fixed assets, intangible assets, inventories and other assets of a similar kind, as well as advances received and issued are not remeasured at the reporting date.
Assets and expenses paid by the organization:
- in advance,
- in payment for which the organization transferred an advance or deposit,
- issued advance,
- deposit,
- advance payment,
Thus, the exchange rate at which the received or issued advance payment was accepted for accounting is determined on the date of such receipt / payment.
Subsequently, upon receipt of assets or recognition of expenses of the organization, this rate does not change.
The income of the organization, subject to receipt:
- advance payment
- deposit,
- advance payment,
- received advance,
- deposit,
- advance payment,
The exchange rate when receiving income in the event of advances from buyers does not change at the time of recognition of income in terms of the received advance.
It is this approach that is provided for by the provisions of PBU 3/2006.
Indeed, in accordance with paragraph 10 of PBU 3/2006, cost recalculation:
- investments in non-current assets,
- assets listed in paragraph 9 of PBU 3/2006,
- funds received and issued advances, advance payment, deposits,
In accordance with clause 11 of PBU 3/2006, the accounting and financial statements reflect the exchange rate difference arising:
1. For operations to repay (full or partial) receivables or payables denominated in foreign currency.
The difference arises if the exchange rate on the date of payment obligations differed:
- from the exchange rate on the date of acceptance of this receivable or payable to accounting in the reporting period;
- from the exchange rate at the balance sheet date at which the receivable or accounts payable was recalculated for the last time.
In accordance with paragraph 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 refers;
- for which the financial statements have been prepared.
- The exchange difference is to be credited to financial results organizations as other income or other expenses (except as provided for in clauses 14 and 19 of PBU 3/2006 or other regulatory legal acts accounting) in accordance with paragraph 13 of PBU 3/2006.
- The exchange rate difference associated with settlements with the founders on deposits, including in the authorized (share) capital of the organization, is subject to crediting to the additional capital of this organization (clause 14 of PBU 3/2006).
- The difference arising from the recalculation of the value of the organization's assets and liabilities denominated in foreign currency used to conduct activities outside the Russian Federation is subject to crediting to the organization's additional capital (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 into rubles of the currency at the established rate, and the rest accounting entries do not differ in any way from accounting in rubles, we will give examples of accounting for exchange rate differences.
In accounting, exchange 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 liabilities on loans and credits.
- Account debit
- Account credit 91.1 "Other income"
- Account debit 91.2 "Other expenses"
- Account credit 66/67 "Settlements on short-term/long-term credits and loans"