Accounting financial accounting. The concept of a loan (the most important)

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Accounting financial accounting. The concept of a loan (the most important)

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21. CONCEPT OF LOAN

The activities of organizations are associated with the need to replenish working capital. They can be borrowed on the basis of loan or credit agreements both in cash and in commodity form.

The main document regulating the procedure for accounting for borrowed funds is the Accounting Regulation "Accounting for loans, credits and the costs of servicing them" (PBU 15/01) dated August 2, 2001 No. 60n. The Regulation establishes the rules for the formation in accounting of information on the costs associated with the fulfillment of obligations under loans and credits received (including commodity and commercial loans), including the attraction of borrowed funds by issuing promissory notes, issuing and selling bonds for organizations that are legal entities under the law RF (except for credit institutions and budgetary institutions). It does not apply to interest-free loan agreements and government loan agreements.

Loan - an agreement by virtue of which one party (the lender) transfers to the other party (the borrower) the ownership or operational management of money or things on the terms of return with or without payment of interest. Parties to the agreement may be legal entities and individuals (except for banks). According to Art. 807 of the Civil Code of the Russian Federation, the contract is considered executed (concluded) from the moment the money (or things) is transferred by the lender to the borrower. Foreign currency and currency values may be the subject of a loan agreement on the territory of Russia in compliance with the rules of Art. 140, 141 and 317 of the Civil Code of the Russian Federation.

The loan agreement is concluded between the parties in writing, regardless of its amount. Failure to comply with the written form of the loan agreement cannot serve as a basis for its invalidity; in the event of disputes, the parties refer in this case to the submitted receipt of the borrower or another document certifying the existence of the agreement or its terms (Article 808 of the Civil Code of the Russian Federation).

If the loan agreement is concluded with the condition that the borrower uses the funds received for certain purposes (target loan), the borrower is obliged to ensure that the lender can exercise control over the intended use of the loan amount. If the borrower fails to comply with the terms of the loan agreement on its intended use, as well as in case of violation of obligations, the lender has the right to demand from the borrower early repayment of the loan amount and payment of interest due, unless otherwise provided by the agreement (clause 1, article 814 of the Civil Code of the Russian Federation).

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