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Anglicky v odborných předmětech "Support of teaching technical subjects in English“

Anglicky v odborných předmětech "Support of teaching technical subjects in English“. Tutorial: Business Academy Topic: Long-term assets – acquisition, records, disposal Prepared by : Ing. Jana Šustrová. Projekt Anglicky v odborných předmětech, CZ.1.07/1.3.09/04.0002

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Anglicky v odborných předmětech "Support of teaching technical subjects in English“

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  1. Anglicky v odborných předmětech"Support of teaching technical subjects in English“ Tutorial: Business Academy Topic: Long-term assets – acquisition, records, disposal Prepared by: Ing. Jana Šustrová Projekt Anglicky v odborných předmětech, CZ.1.07/1.3.09/04.0002 je spolufinancován Evropským sociálním fondem a státním rozpočtem České republiky.

  2. When do we get new LTA? • When replacing existing equipment that is physically worn • When exchanging out of date equipment (new technologies bring savings) • When expanding production of already existing products (current capacity is insufficient) • When introducing new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

  3. Acquisition methods of long-term assets • purchase • own production • donation • transfer from individual ownership of the businessman • assets deposit by partners • new findings (in inventory) • financial leasing

  4. Leasing • Financial leasing = leasing of the property based on the lease purchase contract and its repurchase. Tangible assets become company‘s 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 company‘s property immediately after signing the contract.

  5. Classification of assets into use • 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 befor example Protocol on the putting into use.

  6. Record of fixed assets • 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

  7. 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

  8. Sample of inventory card

  9. Care for fixed assets • 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

  10. Disposal of fixed assets • 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.

  11. Questions: • By means of which ways is it possible to get fixed assets? • When may the property be put into use? • Name the card inventory requirement • Explain the difference between financial and operative leasing • Which advantages and disadvantages do you find in financial leasing?

  12. Bibliography: • Štohl, P. Učebnice účetnictví 2011 – 2. díl pro střední školy a pro veřejnost. Znojmo: NAKLADATELSTV Í ŠTOHL PAVEL ING. – VZDĚLÁVACÍ STŘEDISKO,2011.ISBN 978-80-87237-36-6 • Švarcová J. a kol. Ekonomie -stručný přehled, teorie a praxe aktuálně a v souvislostech. Zlín: TOPPEX, s. r. o., 2009. ISBN 978-80-903433-7-5 • Klínský P., Münch O. Ekonomika pro obchodní akademie a ostatní střední školy . Praha: EDUKO nakladatelství, s. r. o.,2008, ISBN 978-80-87204-03-0

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