Accounting financial accounting. Differences between loans and loans (most important)

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Accounting financial accounting. Differences between loans and loans (most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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23. DIFFERENCES BETWEEN CREDITS AND LOANS

Differences between credits and loans are given below.

1. Loan agreement comes into force from the moment of its signing, the borrower has the right to oblige the lender to issue him a loan, except for the following cases:

▪ when, after signing the agreement, facts were discovered indicating that the amount provided to the borrower will not be returned on time;

▪ when the borrower violates the terms of the agreement for the intended use of borrowed funds.

2. Subject under a loan agreement there can only be money, under a loan agreement - money and things.

3. The loan agreement must be drawn up only in writing form, a loan agreement with individuals in the amount of up to 10 minimum wages can be concluded not only in writing, but also orally.

4. In the role creditor only a bank or other credit institution that has an appropriate license from the Central Bank of the Russian Federation to perform such operations can act under a loan agreement; Parties to a loan agreement can be any legal or natural person.

5. The main factors for determining the interest rate for loans are: the refinancing rate of the Central Bank of the Russian Federation, at which loans are provided to commercial banks and other credit institutions, and the size of the bank premium (margin) depending on the demand for financial resources.

Under an agreement on property and money loans, interest may not be accrued, if it is provided for by the agreement. The interest rate subject to the accrual of interest on loans is set by agreement of the parties, as a rule, taking into account the location of the borrower and the refinancing rate of the Central Bank of the Russian Federation.

According to PBU 15/01 "Accounting for loans and credits and the costs of servicing them" and the organization's accepted accounting policy, the borrower may be given the opportunity to transfer long-term debt on loans and borrowings to short-term if 365 days remain before the return of the principal amount of the debt. In this case, an entry is made on the accounting accounts: Dt 67 "Calculations on long-term loans and borrowings" Kt 66 "Calculations on short-term loans and borrowings", including accrued interest.

The borrowing organization, upon the expiration of the debt repayment period, is obliged to ensure the transfer of urgent debt into overdue debt on the next day after the date specified in the contract for the repayment of the principal amount of the debt by the borrower. In case of non-payment of the debt for its amount, taking into account the interest due, an entry is made: Dt 66 "Settlements on short-term loans and borrowings", 67 "Settlements on long-term loans and loans" Kt 76 "Settlements with various debtors and creditors" , subaccount 76-2 "Calculations on claims".

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