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19PROBLEMS FORMING OF ACCOUNTING FOR FOREIGN ECONOMIC ACTIVITY OF THE AGRARIAN ORGANIZATIONS OF RUSSIA IN MODERN CONDITIONS
Postnikova L.
Russian Timiryazev State Agrarian University, Ph.D., Associate Professor, Head of the Department of Accounting, Russia.
ABSTRACT
Integration of Russia into the world economic system conducts to the expansion of foreign economic activity of the agrarian organizations and provides additional requirements for the organization of accounting as an irreplaceable source of information for making effective management decisions (not only on the current activities, but also for the future development of the economic subject).
Keywords: the globalization of the economy; integration; foreign economic activity; accounting; objects of accounting, export, import.
The globalization of economic relations, the integration of Russia into the world economy created more favorable conditions for access of domestic producers in world markets, elimination of discrimination against Russian exporters, attraction of foreign investment and technology, the expansion of foreign economic activities of domestic enterprises, including agricultural organizations.
The increase in the scale of foreign economic activity of agricultural producers of Russia has high requirements for the organization of accounting as an indispensable source of information for making effective management decisions (not only on the current activities, but also for the future development of the economic subject).
It is an information reflecting the real state of foreign trade transactions, is the basis for monitoring the implementation of international contracts concluded and decision-making in the further development of foreign business entities. The unreliability and insecurity of this information may result in the loss of confidence foreign contractors in penalties and, ultimately, the negative results for all organization's foreign economic activities.
Based on the foregoing, development of scientifically reasonable concept of accounting of foreign economic activity of agricultural organizations in modern conditions is actual.
Concept of financial accounting foreign economic activity of agricultural organizations
The concept developed accounting of foreign economic activity eliminates inherent in existing accounting system fragmentation and inconsistency and give it a truly systemic in nature, as it is undertaken in accounting in recent years with regard to the of regular activities of economic entities.
In summary, the components of this concept are:
- Identifying what accounting of foreign economic activity;
- Specification of accounting tasks foreign trade organizations, agribusiness;
- Identify common features of the accounting of foreign economic activity, compared with the usual accounting activities;
- Method of accounting of the main objects of foreign trade.
First, we need to define with concept of foreign economic activity as the object of accounting. In domestic science, there are a significant number of definitions foreign economic activity, but in this case, we should talk about its accounting aspect, i.e., a special set of business transactions (or as per modern accounting theory - the facts of economic life).
Foreign economic activity: determination and characteristic features
We expect to determine the foreign trade organizations, agribusiness as a set fact of economic life between residents and non-residents in the sphere interstate transfer of good, services, intellectual property, information, and other investment and agricultural cooperation, in order to obtain economic benefit (profit or mutual interests) under Russian and international laws, including the prevailing practice in international business.
Foreign economic activity as a separate set of economic relations is composed of individual foreign operations, each of which has a specific economic purpose and its own legal registration.
Foreign economic operations in agriculture characterized by the following features:
- Operations on the export and import of products and product takes a long time because of the large distance from each other participants of foreign trade (buyer and seller of goods);
- The need for crossing the customs border of the Russian Federation due to the fact that one of the participants of foreign economic transaction (buyer or seller of the goods) must be located abroad;
- The vast majority of transactions between the buyer and the seller of the goods are made in foreign currency;
- Promotion of the goods from the seller to the buyer mates with high costs, which are both involved in foreign transactions (each of them in part due to the specific basic conditions of supply);
- The presence of a large number of cost centers, ie the need to attract a lot of the different kinds of organizations providing services or carrying out work to promote the export or import of goods;
- A broad legal and regulatory framework of foreign trade activities: general legal norms, currency and customs legislation;
- The dependence of the results of the production of agricultural organizations and as a result, the volume of foreign trade (export and import flows) on climatic factors and biological characteristics of plants and animals;
- Constant variability of economic processes that are difficult to predict real: political and economic instability and external integration rate of the states, technological advances, consumer demand;
- Limited and incomplete information about the economic processes that are often determined by the limited resources (financial, technical, etc.) of the subject of foreign economic activity in specific decisions.
Significant impact on the accounting organization provides industry affiliation and specialization of agricultural organizations.
Objects of financial accounting of foreign economic activity in Russia
Accounting of foreign economic activity of agribusiness is a sequential recording of operations for the execution of foreign economic contract:
- The preparatory phase, consist in founding of contractor, preparation and conclusion of a foreign economic contract;
- The account the production of accounting items of foreign trade and its movement between the contracting parties;
- The account the overhead of carrying out foreign economic contract;
- Consideration of purchase (sale) of these objects, and payments to contractors, tax and customs authorities, the identification of the financial results of foreign trade organizations of agriculture. Thus, Accounting Code should reflect and monitor the entire circuit means providing traders, by analogy with the usual accounting activities.
In this regard, the objects of accounting foreign trade organizations AIC are:
a) a assets: tangible and intangible assets acquired in foreign currency or produced in the organization for the purposes of exports (fixed assets, investments in non-current assets, animals, materials, commodities), cash in foreign currency;
b) a liabilities: debt payments denominated in a foreign currency (buyers, other debtors, reporting entities) payable to foreign suppliers, contractors, promoters, with insurance and transportation organizations on leasing operations;
c) the facts of economic life: the purchases and sales of foreign currency operations for the production and sale of products, works and provision of services for export, barter (barter) operations;
d) an income and expenses: operations to definition the exchange rate changes and financial results of foreign trade;
d) the sources of funding for the organization of agriculture: loans and borrowings in foreign currency, export financing, etc.
Accounting tasks of foreign economic activity
In conjunction with the list of these items to be more specific and accounting tasks of foreign agribusiness organizations, which include:
• compliance with the requirements of the currency, customs and tax laws and regulations in the field of accounting foreign trade organization, the development of accounting policies allowing for the traders and industry-specific agricultural organizations;
• validation timely and complete documentation of money, settlement and cash transactions denominated in foreign currencies; actual monetary value of transactions denominated in foreign currencies;
• timely recording of transactions related to the purchase, sale and conversion, as well as the revaluation of property and liabilities in foreign currency due to changes in exchange rates;
• ensuring control over safety of property, including in transit, customs warehouses and so on. etc .;
• forming a complete and reliable information on the amount of foreign operations, export and import of goods, works, services, etc. accounts receivable and accounts payables with foreign suppliers, contractors, customers and clients, the purchase price of the imports on the flow of funds in foreign currency, import and export of goods of foreign currency exchange rate differences, the organization control over compliance with international contracts (compliance deadlines agreements (contracts) - shipment, payment terms, the fullness of settlements with foreign partners, etc.)$
• calculation of the value of imports of foreign goods, the formation of reliable information on the costs of production and sales of export products, the timeliness of recognition of revenue from the sale of export goods (works, services), the accurate calculation of financial results by type of accounting items of foreign trade and for each contract;
• correct calculation and timely transfer to the budget for foreign trade transactions by the tax legislation of taxes and charges, customs duties; efficient delivery of necessary accounting information to make informed management decisions, timely and quality formation of the financial (accounting), tax and statistical reporting about foreign economic in organizations of agribusiness and presentation it to users in a timely manner.
Professionals should consider the following features in the organization of accounting operations foreign economic activity: accounting in accordance with RFS 3/2006 "Accounting for Assets and liabilities denominated in foreign currencies» [3] should be done in two units: a foreign currency and in rubles at the exchange rate of the Central Bank of Russia on the date of the transaction required to be converted to the exchange rate at the date of the financial statements, accounting for exports of goods shipped to carry on trade parties in accordance with the passport of the transaction, as the customs and currency control the flow of export Revenue is based on passage of goods by party
through the customs border of the Russian Federation, the shipment of goods from the subsequent transfer and storage to internal controls over the timely performance of contractual obligations should be carried out in the context of the analytical account of export of goods shipped to the places of their location in a particular way from the Russia's supplies to the foreign buyer; costs are determined by the exporter for sale delivery basis, which is the price element and a prerequisite of the contract, for products being shipped for export, the tax rate is 0% VAT.
In accordance with the tax law (Chapter 21 of the Tax Code of the Russian Federation), using taxpayer different tax rates necessary to provide separate accounting for such transactions. Isolation of the transactions related to the export of products, depending on the organization's accounting policies; VAT charged and paid by producers for material resources used for the production of export goods will be deducted from the amount of tax charged and recovered from the budget after the documentary evidence of export; imported products must be put on the account from the date of ownership transfer of their importer, must be properly formed foreign trade cost of imported goods, i.e. its purchase price, which consists of the contract value, customs fees, transportation and other expenses for the purchase.
Each of these features is subject to specification in the organization of accounting, the corresponding objects of foreign trade. The order of specific accounting of foreign operations is determined not only by its appearance, but also the terms of the contract, which is especially true for methods of accounting of export-import operations.
Here are the two defining conditions: delivery basis and the moment of the ownership transfer of the goods from the exporter to the importer. The content of specific basic conditions defined trade practices, business practices prevailing in individual countries in the fields of international trade and even in ports. If the contract in determining the basic conditions of supply, reference is made to the "International Commercial Terms" [4] which, compliance with the conditions included in the contract becomes binding. It is common practice to distribute the basis of their business expenses and risks when entering into foreign trade contracts.
When you import the basic conditions of supply directly affect the actual cost of purchased goods: Debit of account 41 "Goods" credit of account 60 "Settlements with suppliers and contractors" - reflects the shipping costs of imported goods. When exporting the basic conditions of supply form the sum of the costs of sale, which are stated by the exporter in the debit of account 44 "Settlements for sale" and the credit of account 60 "Settlements with suppliers and contractors," which includes only the cost of the seller. Then selling expenses from the account 44 "Settlements for sale" written off to cost of goods sold: Debit of account 90 sub-account 2 "Cost of sales" Credit of account 44 "Calculations for sale."
Delays in the reporting of sales cost part can have a significant influence on the performance of the financial statements and, in some cases, lead to its unreliability. For a fair presentation of such losses from foreign economic activity must be observed assumption the accrual activity (basic assumption of accounting), as well as the requirements of timeliness and completeness.
The second feature of the accounting operations FEA is the moment of the transfer of ownership of the goods from the seller to the buyer-exporter-importer. In accounting, the date of transfer of ownership of the imported goods should be put on the account, and export - debited from the account and at the same time recognized revenue from the sale of goods. Date of transfer of ownership of the goods need to be installed in the contract. If the contract is not defined, the Russian exporters and importers followed by the civil legislation of the Russian Federation unless otherwise specified in the contract, then the title to the goods passes to the buyer on the actual awarding who confesses delivery of the goods to the buyer, delivery of the goods to the carrier, delivery of goods to the postal authority, transfer of a bill of lading or other document of title (warehouse receipt, etc.) for the goods.
When exporting goods title to exported goods should pass to the buyer at the time of the transfer (Article 223 and 224 of the Civil Code of the Russian Federation), which recognizes: presentation of the goods to the buyer, delivery of the goods to the carrier, delivery of goods to the postal authority, transfer of a bill of lading or other document of title (warehouse receipt, etc.) for the goods.
The transfer of goods and acceptance of export revenue will be reflected in the account as follows: Debit of account 62 "Settlements with buyers and customers' credit of account 90" Sales "sub-account 1" Revenue" - goods and products are shipped to the buyer; debit of account 90" Sales "sub-account 2 "Cost of sales" credit of accounts 41 "Goods" sub-account 1 "Goods in warehouses", 43 "Finished goods" - written down value (production cost) of shipped goods (products).
If the terms of trade agreement the goods are shipped and the time of transfer of ownership of them to the buyer do not match, then these values should remain on the balance sheet at the supplier with a reflection on the account 45 "Items Shipped". Cancellation occurs at the moment of transition of ownership to the buyer at the same time with the recognition of revenue: Debit of account 45 "Items Shipped" credit of accounts 41 "Goods" sub-account 1 "Goods in warehouses", 43 "Finished goods" - goods and products are shipped to the buyer; Debit of account 62 "Settlements with buyers and customers" credit of account 90 "Sales" sub-account 1 "Revenue"- reflects the revenue from sale of goods (products) in connection with the transfer of ownership of them to the buyer debit of account 90 "Sales" sub- account 2 "Cost sales" Credit of account 45 "Goods shipped"- written off the cost (production cost) of shipped goods (products).
To become effective, subject to the necessary documents, such as contracts, invoices (invoice) of a foreign seller, bills of lading, certificate of transfer of goods to the carrier (international airline, car, rail waybills, bills of lading) cargo customs declaration (CCD), confirming the intersection product the customs border of the Russian Federation, invoices, certificates of acceptance, showing the actual goods receipt to the warehouse of the importer, other documents justifying the cost of acquisition of imported goods.
Thus, the observed one of the basic accounting principles - the principle of separate entity organization, according to which the organization should have taken into account in the balance sheet only that property which belongs to it by right of ownership. Therefore, the exporter must write off the register shipped goods if he does not after the shipment has the right for him. Accordingly, the importer is required to deliver goods in transit to balance the account, if the title to the property was transferred to the importer. Otherwise, data accounting and reporting will be unreliable.
When taking into account the event of unbilled imported goods must be based on objective accounting data or data from independent sources: the previous import transactions concluded on similar terms of delivery in the same or near the reporting period, the current contract for works (services), the organization that provides services Promotion import goods from a foreign seller to a Russian buyer, from other sources (opinions of experts, different tariffs reference, laws, etc.).
Accounting for foreign trade is characterized by reflection operations simultaneously in both currencies - foreign and Russian rubles. Moreover, in the amount of Euro transactions are translated at the exchange rate ruling at the date of the transaction. In this case, running parallel to the account in a foreign currency to reflect its movement.
An important consideration in the accounting of export operations is timely recognition of revenue in accounting. In both cases, this occurs at the time of transfer of ownership of the goods at the same time a reflection of income in the form of receivables foreign buyer. Date of transfer of ownership is not always determined by delivery basis. Incoterms defines the costs the seller and the buyer, and sets the time of the transfer of risk of accidental loss and accidental damage to the goods on the way from the seller to the buyer. Delivery of goods to the carrier and the time of transfer of ownership of his match only, unless otherwise stated in the foreign trade contract.
Thus, in accordance with the rules of accounting and taxation Russian Exporter of the date of transfer of ownership must be reflected in the accounting for revenue from the sale and determine the financial results of foreign trade transactions. Consequently, from the moment of transfer of ownership and the associated reliability of the tax base for income tax.
Export transactions are accounted for separately from import because of the large differences in taxation of these transactions. To form the calculation of the VAT Code participating organizations must maintain separate accounting and income (tax base) of each type
of goods (works, services) that are subject to different rates, as well as separate accounting for the production and sale of goods (works, services) taxed at a rate of 0% of the goods (works, services), are taxed at 10%, and 18% and non-taxable.
To account for the foreign trade operations in the organization must be approved by the working chart of accounts, the use of which would receive all the necessary information for monitoring, summarizing and analyzing and taking the right management decisions. The basis of the chart of accounts should be based on economic characteristics accounted objects (hard currency, import and export of goods, international payments, loans), the nature of their involvement in the account. Working chart organization designed in such a way as to provide an isolated group the data on foreign operations.
Accounting Code is based on the chart of accounts of financial and economic activities of agro-industrial organizations, approved by the Ministry of Agriculture of the Russian Federation June 13, 2001. Seating chart of accounts in the agricultural organizations should provide a complete list of synthetic and analytical accounts required for accounting and financial statements forming the basis of the characteristics plant and the organizational structure of the organization, its place in the system of interconnected organizations and the nature and level of automation of production processes and management functions, taxation and other specific conditions. In the chart of accounts should be taken into account economic characteristics accounted objects (hard currency, import and export of goods, international payments, loans), the nature of their participation in accounting. To reflect the specifics appropriate to introduce foreign sub 1-order (three-character code) and second-order sub-accounts (code of 4 characters) that will enable organizations to organize agricultural precise control over the movement and safety of export and import of goods and controls settlements with foreign partners.
Thus, for the improvement and development of accounting methods and foreign trade organizations, agribusiness management of reference in order to successfully carry out its tasks necessary to implement comprehensive measures, which constitute the essence of our proposed concept.
Reference
1. The Civil Code of the Russian Federation.
2. The Tax Code of the Russian Federation.
3. Regulations on financial accounting 3/2006 "Accounting for Assets and liabilities denominated in foreign currencies", Approved by Order of the Ministry of Finance of the Russian Federation, November 27, 2006.
4. Incoterms® 2010, Paris, ICC Publication no 715E, 2010, 128 p.
5. Khoruzhy, L. I., Postnikova, L.V., Kudaeva, O.V. (2010), Development of the accounting of exportimport operations in organization of AIC» (monograph), Ministry of Agriculture, Russian Timiryazev State Agrarian University, Moscow, 283 p.
