The useful life of the asset

To implement the correct taxation of the Russian Federation Government decree № 1устнавливает the useful life of the asset (the OS). For regulation there is a special Classification of OS. In addition, the tax code establishes some special rules for the calculation of these terms that apply to the funds already used or received in order of contribution to the capital of the company.

Since 2009, these standards are standardized for all objects which are acquired by the company, regardless of the method of acquisition.

In the classifier all OS distributed into 10 groups depending on what is provided useful lives for objects related to that specific group.

However, any company or organization has the right, in its sole discretion to regulate the useful life of the asset. Practice is due to the very essence of the concept. This essence lies in the fact that the term itself – time during which a specific object, the operating system can benefit an enterprise or company income as well as be used for industrial or commercial purposes of the enterprise. Autonomy to define the reporting period stems from the fact that in each of the enterprises activity and the frequency of use of different operating systems vary. For some species it is calculated on the basis of indicators of production activities of the enterprise. So often it is the amount of product or work. The indicator is reflected in physical terms. The establishment period is when OS is accepted for accounting.

If the useful life of the asset is not stipulated in its specifications or the user manual if it is not possible to determine the norms, organization or enterprise can install it yourself, guided by the following considerations and assumptions:

- on the basis of the estimated expected effective period of a production operation;

- based on forecast physical wear of the asset;

- other possible restrictions.

However, note that the calculation of depreciation in the case when the organization or the company themselves determine the useful life of a fixed asset is carried out only by such means that have been purchased by these organizations or businesses after 1998 To properly all of this was reflected in the accounting information about the time of acquisition of the fixed asset, and hence about the norms of calculation of depreciation, specified in a special act (f OC-1). The form and order of registration of this document set out in the decision of Goskomstat of the Russian Federation No. 71A. Such an act, according to this resolution, is the primary source for accounting transactions to write off obsolete OS and purchase a new one.

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Fairly often a situation arises when the time of real operation of the OS from the previous owner is equal to the period which provides for the useful life of the asset established previously considered by the classifier or technical conditions. In addition, a situation may arise when this period will be smaller than the period of actual use. Therefore, to avoid inconsistencies in accounting, it is essential to take care of the documentary evidence of period of operation of OS from a previous owner. These may serve, according to the tax code of the Russian Federation, tax base data, certificate of an accountant with the company the previous owner of the OS, indicators of tax accounting.

Correct accounting of actual use of equipment is important not only for the considered problems. This account is an important parameter in the choice of directions of development of the company, is a necessary factor in making proper management decisions.