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Slide 2 Tutorial: Business Academy Topic: Long-term assets acquisition, records, disposal Prepared by : Ing. Jana ustrov Projekt Anglicky v odbornch pedmtech, CZ.1.07/1.3.09/04.0002 je spolufinancovn Evropskm socilnm fondem a sttnm rozpotem esk republiky. Slide 3 When replacing existing equipment that is physically worn When exchanging out of date equipment (new technologies bring savings) When expanding production of already existing products (current capacity is insufficient) When introducing new products, expanding information into new markets When concerning mandated investments e.g. Due to occupational health and safety (OHS), enviromental protection Slide 4 purchase own production donation transfer from individual ownership of the businessman assets deposit by partners new findings (in inventory) financial leasing Slide 5 Financial leasing = leasing of the property based on the lease purchase contract and its repurchase. Tangible assets become companys property when it is fully paid up. Operational leasing = long-term lease, after its end the property is returned to the leasing company. Instalment sale = property acquisition under the purchase agreement. It becomes companys property immediately after signing the contract. Slide 6 Property becomes fixed assets at the time of commissioning. If the property is put into use, it means the security of all technical functions required for use and fulfilment of all obligations imposed by legislation. For example the building, fire, environmental and hygiene regulations. When considering the property, the condition is satisfied by issuing the certificate of occupancy, land registration etc. Document permitting the use can be for example Protocol on the putting into use. Slide 7 Inventory cards or inventory book Minimum content of inventory card: Name, property description, its numeral designation Valuation Date and method of acquisition Data concerning method of depreciation Depreciation for each year Residual price Date and method of disposal Slide 8 Additional information: Depreciation group, annual rate or coefficient Accumulated depreciation Model SITC (Standard International Trade Classification) Serial number, asset number, license plate etc. Details of the technical evaluation Property location Technical specifications capacity, loading capacity, dimensions Data concerning regular servicing Slide 9 Slide 10 Training of workers (machine operators, disruption avoidance, machine adjustment..) Regular maintenance (fuses or oil replacement..) Repairs In terms of scale - regular - general In terms of execution time- preventive - subsequent Slide 11 Disposal due to physical of moral depreciation Sale Donation Transfer to private ownership Transfer to another company As a result of damage or theft When disposing, usable materials can be obtained parts, building materials, spare parts, etc. Slide 12 1. By means of which ways is it possible to get fixed assets? 2. When may the property be put into use? 3. Name the card inventory requirement 4. Explain the difference between financial and operative leasing 5. Which advantages and disadvantages do you find in financial leasing? Slide 13 tohl, P. Uebnice etnictv 2011 2. dl pro stedn koly a pro veejnost. Znojmo: NAKLADATELSTV TOHL PAVEL ING. VZDLVAC STEDISKO,2011. ISBN 978-80-87237-36-6 varcov J. a kol. Ekonomie -strun pehled, teorie a praxe aktuln a v souvislostech. Zln: TOPPEX, s. r. o., 2009. ISBN 978-80-903433-7-5 Klnsk P., Mnch O. Ekonomika pro obchodn akademie a ostatn stedn koly. Praha: EDUKO nakladatelstv, s. r. o.,2008, ISBN 978-80-87204-03-0