1s 8.2 revaluation of currency settlements with counterparties. Revaluation of foreign currency balances
In the course of their activities, Russian organizations have the right to open bank accounts, including currency ones, to acquire assets for foreign currency with the formation of debt obligations. However, tax and accounting are carried out exclusively in domestic currency. Revaluation of foreign currency balances reflects the actual financial condition of the company.
What is revaluation of foreign currency
Given that russian ruble - this is the only currency allowed in the accounting of organizations, all operations must be evaluated in rubles. The same applies to bank accounts, even if they are created for settlements in foreign currency. In addition, revaluation currency funds carried out in the presence of the following operations:
- cash payments in cash and non-cash forms;
- other monetary documents whose face value is expressed in the currency of foreign countries;
- financial currency investments;
- debt in foreign currency denominated by debtors and organizations to creditors;
- foreign currency investments in material values and other assets.
Revaluation of foreign currency balances is carried out in accordance with PBU 3/2006, which obliges to take into account assets and liabilities denominated in foreign currencies according to certain rules. The recalculation frequency depends on the type of asset. For example, banks must reassess currency funds daily at the current rate. Other organizations are not required to carry out a daily revaluation; it is sufficient to conduct similar operations when closing the accounting period. The dates for revising the value of assets may coincide with the following events:
- operations;
- end of period (last day of the month).
Currency revaluation in accounting
Given that the value of the Russian ruble in relation to foreign currencies is constantly changing, revaluation leads to the appearance of such a thing as exchange rate differences. As a result, enterprises have additional income with a positive result, or losses arise with negative exchange rates. The differences received are charged to account 91 and classified as other income or expenses, depending on the result.
What does the revaluation of foreign currency posting create? Obtaining a positive exchange rate difference is recorded as follows: Dt 57 - Kt 91.1. Negative value in currency translation: Dt 91.2 - Ct 57.
The purchase and revaluation of the posting currency by the entity involves the following:
- Dt 57 - Kt 51 - the cost of acquiring currency;
- Dt 52 - Kt 57 - replenishment of the currency account;
- Dt 91.2 - Kt 57 - fixing the difference according to the results of the sale of foreign currency by the bank and current course Central Bank;
- Dt 52 - Kt 91.1 - the identification of positive exchange rate differences;
- Dt 91.2 - Kt 52 - a negative difference.
Implementation money foreign countries suggests that the revaluation of the foreign currency account generates the following postings:
- Dt 57 - Kt 52 - write off currency from the account;
- Dt 57 - Kt 91.1 - formed a positive exchange rate difference;
- Dt 91.2 - Kt 57 - the formation of a negative exchange rate difference;
- Dt 51 - Kt 57 - on the ruble account received proceeds from the sale;
- Dt 91.2 - Ct 57 - a difference was recorded between the bank's rate of purchase of foreign currency and the current rate of the Central Bank.
Settlements made in foreign currency with other persons are translated at the Central Bank rate applicable on the day of the transaction:
- Dt 52 - Kt 62 - revenue in foreign currency;
- Dt 52 - Kt 66, 67 - received funds as a foreign currency loan;
- Dt 52 - Kt 75, 76 - receiving funds from founders and other persons;
- Dt 60, 66, 67, 75, 76 - Kt 52 - currency funds were spent to repay liabilities.
If the organization owns certain assets located abroad, their assessment must also be carried out at the end of the period. The parent company must report in rubles.
Revaluation of currency in tax accounting
When maintained tax accounting at the enterprise the revaluation of foreign currency accounts and other assets is also important. The dates of execution of actions are considered to be the same moments as in accounting - on the day of operations and at the end of the period.
The results of the translation of foreign currency assets include events:
- The appearance of a positive exchange rate difference. Increases the income of the enterprise and, accordingly, the tax base when calculating income tax.
- Negative exchange differences are included in other expenses. It is considered as non-operating expenses in determining income tax.
For enterprises using the simplified tax system, slightly different rules apply for using the results of revaluation of funds. The presence of positive differences in the conversion rate affects the increase in simplified tax. However, the costs incurred as a result of negative differences in the translation of currencies by organizations on the simplified tax system are not taken into account.
The translation of foreign currency assets into Russian rubles affects the final financial results. In this case, it is necessary to adhere to the rate of the Central Bank, valid at the date of revaluation.
2017-05-20T12: 15: 02 + 00: 00Why do you need " Currency revaluation"? I am often asked this question by novice accountants, because they have not yet encountered currency transactions in practice and don’t understand where this revaluation comes from, how it is calculated and whether it is needed. Let's figure it out once and for all on the example of 1C: Accounting 8.3 , revision 3.0. Firstly, revaluation arises "by itself" at closing month.
Secondly, it arises only for organizations that have currency transactions.
And that's why.
According to PBU 3/2006 on accounting for assets and liabilities, the value of which is expressed in foreign currency, we have:
The value of assets and liabilities denominated in foreign currencies to be reflected in accounting and accounting statements to be converted into rubles.
The cost is recalculated at the date of the transaction in foreign currency, as well as at reporting date.
01.01.2014 the buyer transferred to our bank account 1 dollar.
The wiring will be as follows:
D52 K62 1 USD (32.6587 rubles)
Please note that we recorded the transaction amount simultaneously in the transaction currency (1 dollar) and in rubles at the exchange rate on the transaction date (on January 1, 2014, the dollar exchange rate was exactly 32.6587 rubles).
Turns out that all currency accounts keep their monetary indicators in two dimensions at once: in the currency of the account and in rubles (the main currency of the regulated accounting for Russia).
Thus, at the end of the day 01/01/2014, the balance of 52 accounts will be 1 USD and at the same time 32.6587 rubles.
Everything is great, but time is running out. The dollar is changing. And now at the end of the month (January 31, 2014) for one dollar they give 35.2448 rubles.
And, if we look at our balance of 52 accounts at the end of the month, we will see that despite the fact that the exchange rate has changed there is still 1 USD and 32.6587 rubles. But we know that one dollar already corresponds not to 32.6587 rubles, but 35.2448 rubles! Arose mismatch of the balance in dollars to the balance in rubles.
So, this very recalculation of the value of assets and liabilities in foreign currency at the reporting date (that is, monthly) was just invented in order to restore this correspondence between currency and rubles every time at the end of the month.
In this case, revaluation of 52 accounts as of January 31, 2014 will look like this:
D52 K91.01 2.5861 rubles
Thus, we overestimated the ruble balance in 52 accounts by 2.5861 rubles due to other income. It turns out that the rate for this month has grown - hence the income for the organization. If the rate fell on the contrary, there would be other expenses.
So, after revaluation, the debit balance of 52 accounts at the end of the day on January 31, 2014 will be 1 USD and at the same time 35.2448 rubles.
But time is running out. And at the end of February for 1 dollar they give 36.0501 rubles. So, we again had a mismatch between dollars and rubles on 52 accounts, and at the same time there was other income due to the appreciation in February.
A new revaluation will result in the following postings:
D52 K91.01 0.8053 rubles
And the debit balance of 52 accounts at the end of the day 02/28/2014 will still be the same 1 USD and at the same time 36.0501 rubles.
And so we will reevaluate ad infinitum, while we will have a non-zero balance of 52 counts. Other currency accounts are revalued in the same way.
Here is a brief theory of the revaluation of foreign currency in accounting. And now let's see how all this is implemented in the program using the example 1C: Accounting 8.3 (revision 3.0):
We do the loading of exchange rates for 2014
We open a currency account (USD)
To do this, go to the section "Main" -\u003e "Organizations" and open our organization there ():
In the organization’s card in the upper panel, select the item "Bank accounts":
In the list of accounts that opens, click the "Create" button and fill out the current account card as follows (account number and BIC are shown as an example; be sure to select the account currency USD):
Click "Record and close."
We make a cash flow from the buyer
To do this, go to the "Bank and cash desk" section and select the item "Bank statements" ():
We press the “Receipt” button and fill out the bank statement as follows (receipt of 01 January 01, 2014; from any counterparty under any contract; account 52 - the bank account is the one we just created):
Click "Swipe and close."
We look at the document postings (DTKt button in the statement journal):
We see that 1 dollar was capitalized on 52 accounts at the exchange rate on 01/01/2014 (how to look at exchange rates for a certain date in 1C: Accounting).
We make the closing of the month for January
We go to the "Operations" section and select the "Closing the month" () item there:
Select the period January 2014 and click "Execute closing month".
Then we find the item "Revaluation of currency funds", click on it and select "Show transactions":
Here it is our exchange rate difference of 2.58 rubles:
We will return to the closing of the month for January 2014 and find the "Help-calculations" button there. Click it and select "Revaluation of foreign currency":
The program will generate a report with calculations on the revaluation of foreign currency funds:
Similarly, close the month of February to ensure that our preliminary calculations are consistent with program behavior.
We are great, that's all
If this does not help, it is very likely that the account on which you expect the calculation of the exchange rate difference is listed in your list of accounts with a special revaluation order.
Dt 52.2 Current foreign currency account 3000 US dollars x 23 rubles.
Ct 52.1 Transit currency account 75 kopecks. \u003d\u003d 71 250 rub.
On account 52.1, there was an exchange difference in the amount (23 rubles. 75 kopecks. - 23 rubles.) X 9000 US dollars \u003d 6750 rubles.
Dt 52-1
CT 80, sub-account "Exchange differences" 6750 rubles.
3. The ruble proceeds from the mandatory sale of foreign currency are credited to the organization’s bank account (6,000 US dollars x 23 rubles 50 kopecks \u003d 141,000 rubles)
Dt 51 Current account
CT 48 Sale of other assets 141,000 rubles.
Charged to the cost of sales sold amount of foreign currency at the rate of the Central Bank of the Russian Federation on the day of sale
Dt 48 Sale of other assets 6,000 US dollars x 24 rubles. \u003d 144,000 rubles.
Kt 57 Transfers on the way
The financial result of the mandatory sale of part of the foreign exchange earnings is determined.
Dt 3000 rub. (144000 - 141000)
The financial result is the difference between the exchange rate (selling rate) and the exchange rate Central Bank RF on the date of sale.
On account 57 “Transfers on the way,” an exchange difference was formed in the amount (24 rubles - 23 rubles 75 kopecks) x $ 6,000 \u003d 1,500 rubles.
It arose due to the difference between the exchange rate of the Central Bank of the Russian Federation on the date of sale and on the date of deposit of the currency subject to mandatory sale.
The amount of the exchange difference in accounting is posted:
Kt 80, subaccount "Exchange differences". 1500 rub
According to the aforementioned Instruction of the Central Bank of the Russian Federation dated June 29, 1992 No. 7 (subject to subsequent changes and additions), organizations may carry out voluntary sales from a foreign currency account in excess of amounts subject to mandatory sale.
Thus, compulsory sale is made only from the organization’s transit currency account, and voluntary sale from both the current and transit currency accounts.
IMPLEMENTATION OF EXPORT PRODUCTS UNDER THE CONTRACT OF THE COMMISSION WITH THE RUSSIAN MEDIATOR
In my course work, I will consider only accounting at the principal.
1. Under a contract agreement, an export batch of goods was shipped for shipment to a foreign buyer:
Dt 45.1 subaccount "Goods shipped export"
Ct 40.1 Finished products export 100 000 rub.
2. Paid overhead costs in rubles:
Dt 43.1
Ct 51 40 000 rub.
3. After the goods have been shipped to a foreign buyer from a port or from a border railway station, the intermediary must notify the supplier of this.
According to the Instruction of the Ministry of Finance of the Russian Federation “On the procedure for filling out the annual financial statements”, approved by Order of the Ministry of Finance of the Russian Federation No. 97 of November 12, 1996 (durable document), as of the date of receipt of the notice, the following is reflected:
Dt 62.2 Settlements with commission agents 9000 US dollars x 22
rUB for exported goods 50 kopecks (CBR rate on the date of receipt
CT 46.1. Sale of export goods, notices) \u003d 202500 rub. works, services
At the same time, the amount paid by the agent in foreign currency and the commission are charged to the principal; the amount owed by the commission agent to the principal is reduced by this amount ($ 1,000 - overhead and $ 800 - commission to the intermediary):
Dt 43.2 1800 USD x 22 rub. 50 kopecks \u003d 40500 rub.
Charged to the sale of the cost of goods shipped and the costs of its sale:
Dt 46.1
Ct 45.1 100 000 rub.
Dt 46.1
CT 43.1 40 000 rub.
Dt 46.1
Ct 43.2 40 500 rub.
The financial result from the sale is determined:
Dt 46.1
CT 80 22 000 rub.
4.a) The remainder of the foreign exchange earnings shall be transferred by the agent to the principal's transit currency account:
Dt 52.1 7200 US dollars at the rate of the Central Bank of the Russian Federation
Kt62.2 on the date of crediting
Obligatory sale is made out. Must be sold 7200 x 0.75 \u003d 5400 US dollars. The current foreign currency account receives 1800 US dollars.
Dt 57 5400 US dollars at the rate of the Central Bank of the Russian Federation
CT 52.1 at the date of withdrawal
CT 52.1 at the date of transfer
Dt 51 Ruble proceeds from
CT 48 compulsory sale
Ct 57 at the rate of the Central Bank of the Russian Federation on the date of sale
or financial result from
Dt 48 mandatory sale
Dt57
Ct80
or exchange rate difference
Dt80
b) The obligatory sale was executed by the broker:
Dt 52.2 1800 US dollars at the rate of the Central Bank of the Russian Federation
CT 62.2 at the date of crediting
Dt 51 Ruble revenue
Kt 48 for the currency sold
Dt 48 Ruble equivalent of the currency sold
CT 62.2 at the rate of the Central Bank of the Russian Federation on the date of sale
or The financial result from a mandatory sale
The exchange rate difference on account 62.2 “Settlements with commission agents for exported goods delivered”:
Dt 62.2
Ct80 or
Ct 62.2
Bank commission for compulsory sale debited to account 48, but does not reduce taxable profit.
It should be noted that, in accordance with the “VAT Law”, exporters have the privilege of paying this tax in the amount of 100% of the value of the exported goods (works, services).
4. ACCOUNTING OF IMPORT OPERATIONS
ACCOUNTING OF IMPORT OPERATIONS ON THE DIRECT CONTRACT BETWEEN THE RUSSIAN BUYER AND THE FOREIGN SUPPLIER OF IMPORT GOODS
In this section, the term “imported goods” means any tangible assets that, when imported into the territory of the Russian Federation, cross its border without an obligation to re-export.
When recording the import operations of goods, it is necessary, firstly, to timely import the imported goods into the balance sheets, and secondly, to correctly form the actual value of the imported goods on the accounting accounts, which will be its cost in future use when it is written off into production or implementation.
The goods must be put on the balance sheet from the moment of transfer of ownership of it to the importer. In accordance with the PBU, it is the date of transfer of ownership to the importer that is the date of the transaction for the import of goods. On this date, you need to take the rate of the Central Bank of Russia to convert into rubles the amount of foreign currency in which the value of the goods is expressed.
The date of transfer of ownership from seller to buyer should be indicated in the contract, since there is no international law on this issue, and existing international practice, according to which the moment of transfer of ownership of goods is considered to be the seller fulfilling his delivery obligations, is not a convincing argument in disagreement with the verifiers.
Economic sciences / 7. Accounting and audit
Ph.D. Demyanenko E.Yu.
Rostov State Economic University (RINH), Russia
Differences in the revaluation of foreign currency balance sheet items under RAS and IFRS
In accordance with the requirements of Federal Law No. 402-ФЗ On Accounting, organizations maintain accounting in foreign currency Russian Federation - rubles. But in cases where foreign partners act as counterparties, companies cannot do without currency transactions. Currency operations between residents and non-residents are carried out without restrictions, and their conduct is regulated Federal law No. 173-ФЗ On Currency Regulation and Currency Control.
The main document defining the principles for recording transactions in foreign currency in accounting is PBU 3/2006 “Accounting for assets and liabilities whose value is expressed in foreign currency”.
The procedure for determining and recording exchange differences is established in IAS 21, “The Effect of Changes in Foreign Exchange Rates”. This standard applies:
- when accounting for transactions and balance sheet balances in foreign currency, with the exception of transactions and balances with derivative financial instruments (regulated by IAS 39 “Financial Instruments: reflection and valuation”);
- when recounting the results economic activity and the financial condition of foreign organizations that are included in the financial statements of a company that compiles these statements using the consolidation method, proportional consolidation or equity;
- when translating the results of operations and the financial condition of the company into the presentation currency.
Note that the scope of PBU 3/2006 is much narrower than the scope of IAS 21, since it applies only to individual reporting organizations and only when translating operations into Russian rubles.
Recalculation of the value of an asset or liability for purposes accounting is made at the official rate of foreign currency to the ruble set by the Bank of Russia, or at another rate established by law or by agreement of the parties (terms of the contract).
The first ruble valuation of an asset or liability arises from the translation of its value at the date of receipt.
Subsequent ruble valuations are formed when its value is recalculated as the exchange rate changes at the reporting date or at the date of fulfillment of the obligation.
The need to convert assets and liabilities into rubles from the point of view of PBU 3/2006 is not linked in any way with the peculiarities of the organization's economic activity. In fact, PBU 3/2006 suggests that the Russian ruble is the functional currency for all Russian organizations.
IAS 21 does not specify which rate should be used in translating the amounts of assets and liabilities. While PBU 3/2006 establishes that in the general case (if the parties have not agreed on a special settlement rate), the conversion is carried out using the rate of the Central Bank of the Russian Federation.
Also, IAS 21 allows the use of the average rate for a certain period if it has not been subject to significant fluctuations. The average exchange rate for a week or a month can be used for all operations in foreign currency carried out in this period. However, in the case of significant fluctuations in exchange rates, the use of an average rate over a period seems inappropriate. When revaluing to the reporting date, if there are several exchange rates, the one that is used for calculating this transaction on the date of revaluation is used. If there is temporarily no possibility of an exchange between two currencies, the first subsequent exchange rate at which the exchange can be made is used as the exchange rate.
When generating a new ruble valuation of an asset or liability denominated in a foreign currency, exchange differences arise.
Under the exchange rate difference is the difference between the ruble valuation of the asset or liability, the value of which is denominated in foreign currency, on the date of fulfillment of payment obligations or on the reporting date of this reporting period and the ruble valuation of the same asset or liability on the date it is accepted for accounting in reporting period or at the reporting date of the previous reporting period (paragraph 3 of PBU 3/2006).
The concept of exchange differences in IAS 21 is broader. So, in accordance with it, the exchange rate difference is the difference arising from the conversion of the same number of units of one currency into another currency at other exchange rates.
Also, IAS 21 contains definitions of concepts that are not available in PBU 3/2006 due to the narrower scope, as well as different accounting rules.
So, for example, the concept of functional currency is used (from the point of view of PBU 3/2006, all operations, assets and liabilities are subject to translation into rubles). Functional currency is the currency used in the primary economic environment in which the entity operates. The main feature of a functional currency is the use of its organization in the main economic environment of its activities. Main economic environment is the environment in which the organization generates and spends the bulk of its cash. When determining a functional currency, the following factors are taken into account: currency, which has a major impact on the sale prices of goods and services; the currency of the country, the market and legislation of which mainly determine the pricing of goods and services of the organization; currency, which mainly affects labor, material and other costs.
Additionally, the following factors may be taken into account: the currency in which the proceeds from the issue of debt and equity instruments are received; The currency in which operating activities typically accumulate. If, based on the above factors, the functional currency is not obvious, the organization’s management, based on its own experience, determines such a functional currency that most accurately represents the economic effects of the main operations, events and conditions of activity.
For example, if the Russian parent company has a subsidiary, which is located in the United States, itam produces and sells its products, and operations with the parent company constitute a small proportion of the activities of the subsidiary. In this case, since it is the US dollar that will have a significant impact on the sale price of products, on labor, material and other costs associated with the provision of goods, it will be he who will act as the functional currency of the subsidiary.
Exchange rate differences, in turn, are positive and negative.
According to paragraph 7 of PBU 9/99 “Organization Income”, the exchange rate difference is recognized as positive and applies to other income:
- when the exchange rate rises in relation to assets (claims);
- in case of depreciation of the currency in relation to obligations.
In accordance with paragraph 11 of PBU 10/99 “Organization expenses”, the exchange rate difference is recognized as negative and relates to other expenses:
- at depreciation of the currency in relation to assets (claims);
- with an increase in the exchange rate with respect to obligations.
To reflect the results of foreign currency transactions in accounting, organizations initially calculate their value in rubles, for this: they determine the exchange rate of the foreign currency against the ruble at the date of translation after the transaction in foreign currency, namely at the time of recognition of its results in accounting; the value of the currency transaction in ruble equivalent is formed as the product of the value of the asset or liability denominated in foreign currency by its rate; entries in the amount of the formed ruble value of the currency transaction are posted to the accounting accounts.
The specified conversion into rubles shall be made on the date of the transaction in foreign currency, as well as on the reporting date. For the purpose of revaluation, the articles of the financial statements expressed in foreign currency are divided into two groups:
1) cash balance items combining cash at the cash desk, in bank accounts, in settlements, as well as liabilities and securitieswhose circulation period is determined by the framework of the reporting year;
2) non-monetary balance sheet items, which are considered to be financial statement items other than monetary items.
As a result of changes in the official exchange rate of the foreign currency to the ruble used in the calculations, the exchange rate difference is recognized:
- on the reporting date of the current period in relation to the date of the transaction monetary items;
- on the date of fulfillment of payment obligations in the reporting period and on the previous reporting date for monetary items;
- on the previous reporting date and on the reporting date of the current period, when transactions in foreign currency were not performed in this period;
- on the date of the occurrence of obligations in accounting and on the date of fulfillment of obligations to pay them or on the reporting date on which these obligations were recalculated for the last time, as well as if their recognition and settlements on them are made in one reporting period.
The exchange rate difference is credited depending on the nature of the currency transaction:
1. on financial results for all current operations (paragraph 13 of PBU 3/2006):
- Debit 50 “Cashier” and others (52, 57, 58, 60, 62, 66, 67, 71, 86) Credit 91 subaccount 1 “Other income” - a positive exchange rate difference is reflected;
- Debit 91 subaccount 2 “Other expenses” Credit 50 “Cashier” and others (52, 57, 58, 60, 62, 66, 67, 71, 86) - negative exchange rate difference is reflected;
2. additional capital for operations related to the formation of the authorized (joint-stock) capital (paragraph 14 of PBU 3/2006):
- Debit 75 “Settlements with founders” Credit 83 “Additional paid-in capital” - a positive exchange rate difference is reflected.
- Debit 83 “Additional paid-in capital” Credit 75 “Settlements with the founders” - negative exchange rate difference is reflected.
IAS 21 does not provide for the reflection of exchange differences associated with settlements with founders on deposits in authorized capital as part of additional paid-in capital. The indicated exchange rate differences are recognized in profit (loss) for the period in the generally established manner.
PBU 3/2006 does not regulate the accounting for the currency component in relation to profit (loss) arising from non-monetary items. At the same time, due to the peculiarities of accounting in Russian GAAP, the currency component does not arise in relation to such operations.
Exchange differences on monetary items are recognized in profit or loss of the organization. When a gain or loss on a non-monetary item is recognized directly in equity (for example, a gain or loss on revaluation of property, plant and equipment), any currency component of such profit or loss shall be recognized directly in equity. When a gain or loss on a non-monetary item is recognized in profit or loss, any currency component of that gain or loss is recognized as profit or loss.
We also note that, in contrast to IAS 21, PBU 3/2006 requires separate disclosures with respect to exchange differences arising on transactions denominated in foreign currencies but payable in rubles and exchange differences arising on transactions actually carried out in foreign currency. PBU 3/2006 also requires disclosure of information about the exchange rate of the Central Bank of the Russian Federation at the reporting date. IAS 21 requires additional disclosures in cases where the presentation currency is different from the functional currency, and also when the entity uses another currency to present financial information.
Literature:
1. Accounting Regulation “Accounting for Assets and Liabilities, the Value of which is Expressed in Foreign Currency” (PBU 3/2006) (approved by order of the Ministry of Finance of the Russian Federation of November 27, 2006 No. 154n, as amended on December 24, 2010 No. 186n).
2. The accounting regulation “Income of the organization” (PBU 9/99) (approved by order of the Ministry of Finance of the Russian Federation of 05.06.1999 No. 32n, as amended on 06.04.2015 No. 57n).
3. The accounting regulation “Organization expenses” (PBU 10/99) (approved by order of the Ministry of Finance of the Russian Federation of 05.06.1999 No. 33n, as amended on 06.04.2015 No. 57n).
4. International standard financial statements (IAS) 21 “The Effect of Changes in Foreign Exchange Rates” (Appendix No. 13 to the Order of the Ministry of Finance of the Russian Federation of November 25, 2011 No. 160н, as amended on August 26, 2015 No. 133n).
In principle, the actual goods purchased for foreign currency are accepted for accounting in the same way as goods purchased for rubles. But settlements in the currency, which in this case take place, certainly have their own characteristics. Accounting for foreign currency transactions in accounting is regulated by the Accounting Regulation “Accounting for Assets and Liabilities, the Value of which is Expressed in Foreign Currency” (PBU 3/2006), approved by order of the RF Ministry of Finance No. 154n dated November 27, 2006. Changes in foreign exchange transactions that came into force in 2007 introduced some inconsistencies between accounting and tax accounting, since since 2007 the concept of “total differences” has been excluded from accounting, while in the Tax Code this concept still left.
So, according to the requirements of the law, the value of all assets, expressed in foreign currency, including the value of inventories, "... to be reflected in accounting and financial statements is subject to translation into rubles" (paragraph 4 of PBU 3/2006). Consequently, the law does not allow accounting in any currency other than Russian rubles. Obligations denominated in currencies that arise at the purchasing organization to the supplier should be reflected in accounting in ruble terms. Recalculation of obligations arising from the purchasing organization to the supplier when purchasing goods for foreign currency (i.e. conversion) is carried out at the exchange rate determined by the supply agreement (agreement of the parties). If the exchange rate is not fixed in the terms of the contract, the conversion is carried out at the rate established by the Central Bank of the Russian Federation, at the time the obligations arise. According to paragraphs 9 and 10 of PBU 3/2006, inventories (in our case, goods) are accepted for accounting in the assessment in rubles at the exchange rate in force at the time of the transaction in the currency, and are not subject to further revaluation due to changes in the exchange rate. The situation is different with obligations to pay for this product. The purchasing organization must recalculate its obligations (payables to the supplier) at the date of fulfillment of obligations or at the reporting date (whichever comes first). This is relevant in the case when the calculations are carried out at the rate of the Central Bank of the Russian Federation or when the supply agreement for some reason establishes a "floating" rate of the settlement currency. If the exchange rate is determined by agreement of the parties and unchanged, the difference in the translation of liabilities, of course, will be zero. The difference between the ruble valuation of an obligation, the value of which is denominated in foreign currency, on the date of fulfillment of payment obligations or the reporting date of the reporting period and the ruble valuation of the same obligation on the date it was accepted for accounting in the reporting period or the reporting date of the previous reporting period (last revaluation) called the exchange rate difference. This difference is taken into account by the buyer on account 91 “Other income and expenses”. If it is negative, that is, it is accounted for in the debit of account 91.2 “Other expenses”, its amount is taken to expenses that reduce the tax base for income tax (this applies to accounting and tax accounting). A positive exchange difference is recorded in the credit of account 91. 1 “Other income” as other income of the enterprise.
Suppose your organization has purchased $ 1,000 worth of goods from a supplier. For conversion, the Central Bank rate is used. The product was accepted for accounting on the twentieth day, when the dollar exchange rate was 26.78 rubles. Thus, the buyer in front of the supplier accounts payable (in terms of) 26 780 rubles.
Payment for the goods before the end of the month (i.e., until the end of the reporting period) was not made. On the thirty day, on the last day of the month, the US dollar was set by the Central Bank in the amount of 26.52 rubles. The accountant of the purchasing enterprise reevaluated the obligations, and at the end of the reporting period it amounted to 26,520 rubles. As a result, an exchange rate difference of 260 rubles arose. In accounting, it is reflected in the following transaction:
The debit of account 60 "Settlements with suppliers and contractors",
Credit subaccount 91.1 "Other income" - 260 rubles. - reflected exchange differences at the end of the reporting period.
Payment for the goods was made on the seventh next monthwhen the US dollar was set by the Central Bank of 26.60 rubles. Therefore, at the time of fulfillment of obligations, the buyer's debt to the supplier amounted to 26,600 rubles. As a result of the revaluation, a negative exchange rate difference of 80 rubles arose. In accounting, this is reflected as follows:
The debit of subaccount 91.2 "other expenses",
Credit account 62 “Settlements with buyers and customers” - 80 rubles. - reflected exchange rate differences at the time of fulfillment of obligations.
Thus, the buyer capitalized on the purchased goods in the amount of 26,780 rubles, and paid the supplier in the amount of 26,600 rubles.
In addition, in order to pay for the goods in currency, the buyer organization, in cases where it does not have its own currency or is insufficient, must buy the necessary amount. Currency is purchased at the exchange rate set by the bank. As a rule, this rate is higher than that set by the Central Bank. Thus, the currency is purchased at a rate in excess of the rate at which payment will be made, and in accounting again a difference arises. Until 2007, this difference was called totals. As we said above, at present this concept is excluded from accounting, but remains in the tax. In accounting, we can accept this difference as exchange rate, since PBU 3/2006 does not provide for a strict binding of the concept of exchange rate differences to the Central Bank exchange rate. Exchange rateestablished by the bank selling the currency can be recognized as the rate established by agreement of the parties, that is, by agreement between the bank and the organization acquiring the currency. Thus, the buyer can also attribute the financial result from the purchase of foreign currency (that is, the difference between the amount by which the currency was purchased and the amount transferred to the supplier) to account 91. Assume that on the seventh of the organization-buyer to settle with the supplier required to acquire $ 1,000. The exchange rate of the bank from which the currency was purchased amounted to 26.70 rubles that day. Thus, $ 1,000 was bought by the buyer from the bank for 26,700 rubles, and settlements with the supplier in ruble terms amounted to 26,600 rubles. The negative financial result from the purchase of foreign currency amounted to 100 rubles. In accounting, this will be reflected as follows:
The debit of account 57 "Transfers on the way",
Credit account 51 "Settlement accounts" - 26 700 rubles. - money for the purchase of currency is transferred;
The debit of account 52 "Currency accounts",
Credit account 57 “Transfers on the way” - 26,600 rubles. - purchased currency for settlements with the supplier;
The debit of account 62 "Settlements with buyers and customers",
Credit account 52 "Currency accounts" - 26 600 rubles. - payment to the supplier is listed;
The debit of account 91.2 “Other expenses”,
Credit account 57 "Transfers on the way" - 100 rubles. - reflected the financial result from the purchase of foreign currency.
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1C: Enterprise 8.2 /
Accounting for Ukraine /
Closing period and reporting
Currency revaluation
The operation “Revaluation of foreign currency” in accounting is intended to recalculate the value of all accounts for which currency accounting is carried out, these accounts do not include accounts that are non-monetary, listed in the information register “Non-monetary accounts”. To calculate and reflect in accounting for exchange differences, the following should be implemented:
· The establishment of exchange rates on the last date of the period, which ends in the register "Exchange Rates"
· Determination of the account for the accounting of income and expenses from exchange rate differences and the values \u200b\u200bof their analytical accounting in the information register "Parameters for accounting for exchange differences".
Consider this operation "Revaluation of foreign currency" in the generated document "Closing of the month" on
The printing form for this operation "Help-calculation":
In tax accounting, you can reevaluate book value cash and non-cash foreign currency debt under contracts with the type “Other” and the sign “To be revalued”. As a result, the exchange rate difference will be obtained, which is part of the income (expenses).
Other materials
Russian organizations are entitled to open foreign currency accounts with banks without a restriction, having a corresponding license. The presence of a Russian organization of a foreign currency account on which funds are credited entails the need for periodic revaluation of currency balances on it, regardless of the purpose for which it was opened. This is due to the fact that all obligations in our country are performed in rubles. In the national currency of Russia, accounting is also kept: both accounting and tax. Consider the features of such a revaluation in the context of accounting and tax accounting.
Currency revaluation in accounting
Regardless of the currency in which foreign country the resident opened an account in russian bank, he is required to keep records in accordance with Russian law.
As mentioned above, the Russian ruble is the only one monetary unitin which Russian organizations and enterprises are required to maintain accounting records. Consequently, the currency available on the accounts of the relevant person is subject to conversion into the national currency of the Russian Federation at the exchange rate established by the Central Bank.
As a rule, the terms for revaluation of foreign currency funds are as follows:
- transaction date;
- last day of the month.
It is on these dates that the conversion is carried out at the corresponding rate set by the Central Bank on this date.
Recalculation must be carried out in respect of both the currency received in the account and the receivables.
Fluctuations in the Russian course national currency in relation to the exchange rate of foreign countries will inevitably lead to the occurrence of exchange differences, which will be revealed in the form of a specific amount based on the results of the revaluation of the currency.
The result of the recount may be:
- with a positive difference. In this case, the difference is recorded in other income;
- with a negative difference. In this case, the difference is recorded in other expenses.
When revaluing foreign currency balances in accounting, the following transactions are made:
- with a positive difference: Dt 57-Kt 91-1;
- with a negative difference: Dt 91-2 - Kt 57.
The rules of the revaluation under consideration should be reflected in accounting policies organization.
Revaluation of foreign currency balances in tax accounting
Currency conversion is also necessary for tax accounting purposes.
The terms of revaluation in tax accounting do not differ from accounting, recalculation is carried out in the same way:
- or revaluation on the day of the operation;
- or revaluation of the currency at the end of the month.
As a result of the revaluation due to the volatility of the ruble exchange rate, the following occurs:
- either a positive difference. In this case, the difference is taken into account in non-operating income. Occurrence non-operating income entails an increase tax base income tax and tax in connection with the use of "simplified";
- or a negative difference. In this case, the difference is taken into account as part of non-operating expenses when calculating income tax. In the calculation of “simplified”, the negative difference from the revaluation of currency values \u200b\u200bis not taken into account (Letter of the Ministry of Finance of July 25, 2012).
Thus, we conclude that the revaluation of currency in accounting and tax accounting is of great importance, because entails fixing the occurrence on a certain date of additional income or expenses (depending on the result with which the exchange rate difference was calculated).
Exchange rates against the ruble, set by the Central Bank on a specific date, are the basis for calculating the revaluation of foreign currency in both tax and accounting.
Let's turn to the beginning to legislative framework RF We will see in it that according to PBU 3/2006, if the value of assets and liabilities is expressed in foreign currency, then for accounting purposes this value is converted into rubles at the date of the transaction in foreign currency and at the reporting date, that is, the last day of the month.
How is currency accounting and currency revaluation implemented in 1C 8.3 Accounting 3.0?
In order to be able to keep currency accounting in 1C 8.3 program, at the beginning of operation it is necessary to configure Functionalityallowing. Menu The main thing - Settings - Functionality:
Also necessary in the directory Currencies:
add the required foreign currencies for working in 1C 8.3:
and ensure timely regular updating of values exchange rates in the same name information register:
The account of currency transactions in 1C 8.3
If a company has a foreign currency bank account, data on it must be entered in directory Bank accounts of the organization:
For conducting foreign exchange operations in the program 1C 8.3 Accounting 3.0, in the chart of accounts there are special accounts that have the characteristic of currency accounting:
This feature allows you to see the balances on these accounts in standard reports of the 1C 8.3 program not only in the regulated currency - rubles, but also in the required foreign currency:
Revaluation of currency funds in 1C 8.3
Nothing stands still and exchange rates change. Accordingly, the amount of the ruble equivalent of the foreign currency account balances should be recalculated with the invariable amount of the foreign currency balance remaining. Depending on whether the rate increased or fell, the organization will have other income or expenses during revaluation.
Where in 1C 8.3 currency revaluation
As soon as in the information base of the program 1C 8.3 Accounting 3.0 there will be foreign currency accounts with balances on them, in processing closing month a line appears operations Revaluation of foreign currency. This operation is precisely designed to analyze the balances in the currency accounts of the chart of accounts and revalue the currency amounts with the recognition of other income or other expenses, forming the appropriate transactions in automatic mode.
Suppose, in April, the organization LLC Romashka opened a currency settlement account and a payment of $ 1,000 from the client was credited to it (rate 68.2724). Reflecting the receipt of currency in the program 1C 8.3, in processing closing month appeared currency revaluation transaction:
although in March she was not:
So, now knowing all of the above, we will return to the 1C Accounting 3.0 program and look at examples of how the currency is revalued in automatic mode.
Example 1. If the rate has decreased
On 04/19/2016 the dollar exchange rate was 68.2724 rubles, as of the reporting date 04/30/2016. he fell to 64.3334 rubles. In the currency amount, nothing has changed, but the ruble equivalent has decreased, and accordingly the company incurred an expense, which is reflected currency revaluation transaction at the end of the period in April:
Example 2. If the rate increased
During the month of May, no transactions were made on the account, respectively, at the next reporting date, on 05/31/2016, again there is a need for revaluation. The dollar exchange rate increased compared to the previous revaluation as of May 31, 2016. amounted to 66.0825 rubles. Thus, the organization has other income, which is reflected in Currency revaluation for May:
Example 3. Revaluation at the time of transaction
As for the revaluation of the currency in 1C 8.3 during the transaction, the mechanism is similar to that considered above, only the currency translation rate is taken according to the day of the operation:
Relative to the previous revaluation date 05/31/2016. the course fell on 06/10/2016. amounted to 63.7402 rubles. The organization must register the expense, which we see in the postings:
It is worth saying a few words about account information register with a special revaluation procedure. You can get to this register through the menu The main thing - Chart of accounts - More - Accounts with a special revaluation order:
Accounts of the chart of accounts are entered here, which require a revaluation method different from the one described above. If the account of the chart of accounts is included in this list, then automatically reassessment of balances when transactions are performed at the reporting date routine operation will not happen. Revaluation must be done manually using document Operations entered manually:
For example, 05/06/2016. the organization provided a service in the amount of 2000 cu,
thereby formed the debt on account 62.31:
If a account information register with a special revaluation procedure leave blank then at the end of the May period in currency revaluation operations reassessment of account balance 62.31:
If account 62.31 is included in this list:
then in Closing month the balance on it will not be revalued:
Thus, the family accounting program is able to help the user who is faced with a difficult accounting problem and. The accountant simply needs to configure everything correctly and control the generated transactions.