"Calculations on short-term borrowings" is intended to summarize the information about the state of short-term (for a period not exceeding 12 months) credits and loans received by the organization.
Amounts received by the company short-term borrowings, are credited to "Calculations on short-term borrowings" and debit accounts "Cash", "Current accounts", "Currency accounts", "Special bank accounts", "Payments to suppliers and contractors" etc.
Short-term loans raised through the issuance and placement of bonds are recorded in the account "Calculations on short-term borrowings" apart. Moreover, if the bonds are placed at a price higher than their nominal value, then they made the recording in the debit account "Settlement accounts", and others. In correspondence with accounts "Calculations on short-term borrowings" (at the par value of the bonds) and "Deferred income" (in the amount exceeding the placement price of the bond over their nominal value). Amounts charged to the account of "Deferred revenue" line basis over the term of the bonds at the expense of "Other income and expenses". If the bonds are placed at a price below their face value, the difference between the issue price and the nominal value of the bond credit additionally evenly over the term of the bonds to the credit of account "Calculations on short-term borrowings" in the debit of the account "Other income and expenses".
Payable on loans and borrowings interest expense are credited to "Calculations on short-term borrowings" in correspondence with the debit of the account "Other income and expenses". Accrued interest amounts are recorded separately.
On the amount of repayments of loans debited by "Calculations on short-term borrowings" in correspondence with accounts of the account funds. Loans that are not paid in time, are considered separately.
The analytical account of short-term loans is conducted by kinds of loans, credit institutions and other Lender, to provide them.
On a separate sub-account "Calculations on short-term credits and loans" accounted for payments to credit institutions on accounting transactions (discount) of promissory notes and other debt instruments with a maturity not exceeding 12 months.
Operation accounting (discount) of promissory notes and other debt-recognized organization noteholder credited "Calculations on short-term borrowings" (face value notes) and debit accounts "Settlement accounts" or "Currency accounts" (in fact, the amount of cash received) and "Other income and expenses" (discount rate paid by a credit institution).
Operation accounting (discount) of promissory notes and other debt rose on the basis of notification of payment of the credit institution by reflecting the amount of the bill in the debit account "Calculations on short-term borrowings" and loan related accounts receivable accounting.
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