Initial value of fixed assets: calculation formula

Fixed assets include assets that have a service life of more than one year and are used by the organization many times to carry out their activities, while retaining their physical, natural form.

For profit taxation, fixed assets are understood as the property of the organization, which is used as a means of labor for the sale, provision of services, performance of work, production of goods, and also for management purposes. At the same time, the initial value of assets should be more than 20 thousand rubles.

Initial value of fixed assets: calculation formula

In accordance with the legislation, the initial value of the fixed assets is determined in the form of an amount for their purchase, manufacturing, construction, delivery and adjustment to the state when they become suitable for use. It does not include in its composition the amount of excise and value added tax, except for cases provided for by the Tax Code.

The initial value of fixed assets related to leasing is the amount of expenses incurred by the lessor for their acquisition, delivery, construction and bringing to a suitable condition. The exception is taxable amounts that are deductible, or are recorded in expenses.

The initial cost also includes the costs of the lessor for payment of customs duties for the import of fixed assets for leasing to the territory of the state, which are related to the direct acquisition of the said assets.

The initial value of fixed assets that were identified during the inventory is calculated as the amount by which the property is valued. This cost includes the costs of delivery and bringing the funds to the state of suitability for use, excluding excises and VAT.

When determining the initial cost of the funds identified in the inventory, expenses do not include costs for payment for the services of the appraiser. The payment of services of companies that conduct property valuation is attributed to other expenses related to the sale and production of goods.

The initial value of fixed assets received as a result of own production is calculated as the cost of production (finished), increased by the volume of excises, in the case when the fixed assets are related to excisable goods.

The initial cost can be changed at completion, reconstruction, additional equipment, technical re-equipment, modernization, partial liquidation and in other cases.

The initial value is the basis for the calculations in calculating the replacement value of depreciable assets acquired before the beginning of 2002, taking into account all revaluations made before this time. All accrued depreciation is subject to revaluation.

The residual value of fixed assets put into operation before 2002 is determined by the difference between the cost of the replacement and the accrued amount of depreciation. And the estimated residual value of the fixed capital used after 2002 is determined in the form of a difference in the initial value of the objects and the amount of depreciation accrued during use. In this order, determine the residual value of assets for which depreciation is accrued using the linear method.

The residual value of the objects, accrued depreciation on which is made by non-linear methods, is calculated by the product of the original value by the number of full months of the period between the inclusion and exclusion of assets in the depreciation group. The result is multiplied by the difference of one and a tenth of the depreciation rate coefficient.