Administrative Unit Assets

Administrative units occupy or use economic resources that can be measured in terms of money.

One of the accounting elements of administrative units.

The characteristics of a person should be occupied or used by a specific administrative unit; it should be measured in money; it should be an economic source that helps the unit perform its normal business activities.

The classification is divided into fixed assets of current assets.

Current assets are assets that can be realised or consumed within a year, including cash, bank deposits, temporary payments, stock materials, etc.

Cash is the monetary fund held by the cashier, and the bank deposit is the monetary fund deposited by the administrative unit in the bank.

Temporary payment is the temporary settlement payment of the administrative unit in the business activities with other units, units or units.

Stock material is the administrative material used by the administrative unit to purchase large quantities of stock and gradually consume it.

The quantity of office supplies is not large, and the purchase amount is directly charged as purchase.

Negotiable securities are national bonds issued by the central government by the administrative units with surplus funds.

Fixed assets refer to assets that are used for more than one year, with unit values above the prescribed standard, and basically retain their original material form during the use, including houses and buildings, special equipment, cultural relics and exhibits, books and other fixed assets.

Although the unit price is not up to the required standard, a large number of similar properties that are durable for more than one year should be regarded as fixed assets accounting.

According to the accounting system of administrative units implemented by the Ministry of Finance in 1998, the administrative units set up accounting items such as "cash", "inventory materials", "fixed assets" and so on, accounting for assets respectively.

Receipts and payments for all assets are accounted for according to the actual amount; stock materials are listed according to actual consumption.

The inventory materials of an administrative unit should be counted at least once a year. If the inventory losses and inventory gains occur, the causes should be identified as increasing or decreasing the current expenditure. Securities should be managed as current assets and accounted for at the actual cost at the time of acquisition; fixed assets should be accounted for at the actual cost at the time of the acquisition; fixed assets of inventory surplus and donated assets should be determined according to the market price of similar assets or the relevant credentials.

The net increment of fixed assets should be included in the value of fixed assets.

Fixed assets do not mention depreciation. This is due to the principle of "continuous operation" and "cash basis" in accounting of administrative units. Moreover, the accounting unit does not withdraw fixed assets.

Fixed assets must be stocktaking once a year.

The book value of fixed assets should be reduced correspondingly by the pfer, damage, scrap and inventory losses of fixed assets.

Paid pfer and sale of fixed assets and converted income are treated as other income; the expenses incurred in clearing fixed assets are regarded as current expenditures.

The price paid for the rental of fixed assets shall be recorded in other income.