Accounting expenses of a budget enterprise, as well as itsRevenues from core and other activities today are among the most complex and controversial accounting issues for such organizations. Targeted financing in this regard is used quite rarely, because today there is no uniform methodology for working with such an account. However, in spite of all the difficulties, it is this account that is the main one in terms of making a profit and coordinating the costs of fixed assets. Only in the case of the provision of funds for a single project within a single program can we say that working with such an account is quite simple. In all other cases, earmarked funding and its analysis requires careful preparation and high qualification level from the manager and chief accountant of the enterprise.
Not less questions arise in the system.correct reflection of transactions when using funds of such financing. The fact is that such a flow of funds to an enterprise’s account provides for the use of finances exclusively for the purposes and tasks that the state has set for the enterprise. Otherwise, top executives of such budgetary organizations may be held criminally liable for misuse of public funds. For this reason, earmarked funding provides for constant monitoring of the current cash flow, as well as strict reporting on the work performed.
As part of this provision of fundsFor each non-profit organization, a number of accounts are opened, reflecting one or another type of operating activity. Usually such operations include:
- Receipt and transfer to the account of funds allocated by the budget of the country for one purpose or another.
- Write-off of expenses for the maintenance of a non-profit organization at the expense of funds received.
- Transfer of funds to perform a specific project or program. At this stage, direct targeted funding is provided.
- Acquisition of fixed assets through the use of allocated finance, as well as the implementation of the task set before the enterprise.
- Reflection of the source of funding for the acquired fixed assets.
- Return of funds for targeted financing and reporting on the implementation of the state program.
Accounting targeted funding providesseveral ways of its implementation, each of which has its own advantages and disadvantages. The system of modern Russian legislation does not provide a clear mechanism for its implementation, and there is also no regulatory and well-developed approach. Ideally, the balance of the credit account should be equal to the sum of debit balances that are in the cash accounts of the budget organization. However, in practice such situations often arise when the funds from target financing have not yet arrived, and the organization already incurs actual expenses on the implementation of the state program. Sometimes there may even be situations in which the total expenditure of the enterprise will be more than the allocated funds. In this case, the nonprofit organization will have to write service notes on the allocation of additional targeted funds for the implementation of the program in full.
Подводя итоги, можно сделать вывод, что целевое Financing is the planned allocation of funds from the state budget for a project or program in order to increase the socio-economic development of the country. Unfortunately, at present, our country does not indulge its citizens with various programs, however, I want to believe that we will someday reach the level of development of Western countries.
