Lecture notes, cheat sheets
Accounting financial accounting. Accounting for the movement of loans and credits (the most important) Directory / Lecture notes, cheat sheets Table of contents (expand) 24. ACCOUNTING FOR THE MOVEMENT OF LOANS AND CREDITS To account for the movement of loans and credits, passive accounts 66 "Calculations on short-term credits and loans" and 67 "Settlements on long-term credits and loans". Account 66 is intended to summarize information on the status of various short-term (for a period not exceeding one year) loans, credits and loan obligations in Russian and foreign currencies received by the organization in the country and abroad. Account 67 is used to summarize information on the status of various long-term (for a period of more than one year) loans, credits and loan obligations. To accounts 66 and 67 should be entered sub-accounts: 66-1 "Calculations on short-term loans"; 66-2 "Calculations on short-term loans"; 67-1 "Settlements on long-term loans"; 67-2 "Settlements on long-term loans". For the formation of analytical information for the named accounts and sub-accounts, it is advisable additionally open sub-accounts: ▪ 66-1, 2; 67-1, 2 “Principal debt on loans and credits received”; ▪ 66-2, 3; 67-2, 3 “Interest payable on loans and credits received”; ▪ 66-3, 4; 67-3, 4 “Principal debt on term loans and credits”; ▪ 66-4, 5; 67-4, 5 “Principal debt on overdue loans and credits”; ▪ 66-5, 6; 67-5, 6 “Interest payable on overdue loans and credits”; ▪ 66-6, 7; 67-6, 7 "Penalties under loan and credit agreements"; ▪ 66-7, 8; 67-7, 8 "Borrowed funds received against bills and bonds (loan obligations)." The credit of accounts 66 and 67 reflects the receipt of loans, credits and loan obligations, the debit - their repayment. The credit balance of these accounts shows the amount of received and outstanding loans, credits and borrowings at the beginning and end of the reporting period. PBU 15/01 clearly delineates the rules for accounting: 1) on the main debt on received credits and loans; 2) costs associated with obtaining and using loans and borrowings (interest on borrowed debt obligations); 3) discount percentage (difference between the amount indicated in the promissory note and the amount of actually received funds); 4) interest on promissory notes and bonds due; 5) additional costs associated with obtaining loans and credits, issuing and placing borrowed funds. According to paragraph 4 of PBU 15/01, the borrowing organization takes into account the debt for the principal amount of the debt at the time of the actual transfer of money or other things and reflects it as part of accounts payable. In case of non-fulfillment or incomplete fulfillment by the lender of the loan agreement and (or) the loan agreement, the borrowing organization shall provide information on the shortfall in the amount in the explanatory note to the annual financial statements. << Back: Differences between loans and loans >> Forward: Accounting for cash loans and credits We recommend interesting articles Section Lecture notes, cheat sheets: ▪ Fundamentals of life safety. Crib See other articles Section Lecture notes, cheat sheets. Read and write useful comments on this article. Latest news of science and technology, new electronics: The existence of an entropy rule for quantum entanglement has been proven
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