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How to get the update
05/16/2016
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05/16/2016

How to get targeted funding

How to get targeted funding

Most organizations receive funding earmarked for the trust funds, budget funds and other sources.

For budgetary organizations the process of obtainingfinancing of the State Treasury settled decisions, and the right to obtain and use the budget more difficult for domestic enterprises.

You will need

  • Loss financial result.

instructions

1

Targeted funding is not income to thelong as there is no confirmation of its receipt, that is, as long as the organization does not fulfill all the conditions for financing. Revenue is recognized over the period in which the costs were incurred related to the implementation of the conditions for obtaining targeted funding.

2

Difficulties arise in obtaining financingto cover the losses, as funds are provided after the end of the reporting period and the preparation of financial statements. If the receipt of funds provided, the costs in the reporting period to recognize wrong because it violates the principle of matching revenues and expenses. However, without a prior determination of the loss-making financial result of the organization does not receive funds to cover losses.

3

Obtaining accurate data on the flow to coverLoss targeted funding that arose in previous periods is an event requiring a change in accounting estimates, as well as adjustments to the statements after closing balance. Therefore, in order to secure funding, make a clarifying financial statements, consider the assignment to the amount of the financing costs of the deferred expenses. After that, the cost of the transfer of the period when funding was received.

4

Target financing may be provided eitherfor capital investment, either for current expenses. If funding is obtained in the form of grants or subsidies from public funds of compulsory insurance or other budgets, it is counted as income from other sources and include in gross income for tax purposes. But grants and subsidies that are current payments differ from the capital expenditures that involve payments for the purchase of fixed assets, and extraordinary strategic stocks of goods and compensation for losses.

5

All costs for the purchase of fixed assets,is carried out by the trust fund by the state, may not be subject to depreciation, as in fact they were carried out by the state, but not at the expense of the taxpayer.

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