Reconciliation of fixed assets
When you click on Reconciliation of fixed assets on the left side, a reconciliation model of the company's fixed assets is displayed on the right side. The model lists a Specification of estimated change of temporary differences. This includes entries from the company's depreciations, accounting profit/loss, profit/loss not entered in the profit/loss account, profit/loss entered in the profit/loss account and the difference between accounting and taxable cost. Estimated change in temporary differences according to specification is reconciled with RF-1217 item 3, column III Change in temporary differences.
Under Depreciationsthe model lists the following entries:
- Accounting depreciations
- Hereof depreciation on financial leasing
- Impairment of fixed assets
- Taxable depreciations
- Taxable linear depreciations
- Taxable depreciations power plant
Under Accounting profit/loss the model lists the following entries:
- Accounting profit on sales
- Accounting loss on sales
Under Profit/losses not entered in the profit-/loss account the model lists the following entries:
- Sales amount directly entered as income in the year of realization, cf. The Tax Act § 14-44
- Profit on non-depreciable fixed assets
- Profit on linear depreciable fixed assets
- Loss on non-depreciable fixed assets
- Loss on linear depreciable fixed assets
Under Profit/losses entered in the profit-/loss account the model lists the following entries:
- Profit on non-depreciable fixed assets
- Profit on depreciable fixed assets
- Negative balance goodwill
- Loss on non-depreciable fixed assets
- Loss on depreciable fixed assets
Under Difference between accounting - and taxable cost the model lists the following entries:
- Tax-free investment subsidy
- Input VAT adjustment
- Reduction for adjustment of input VAT on sale
- Diff. between the booked amount and the fair value at the time of the merger/demerger
- Diff. tax values and booked/fair value on conversion to limited company
- Deduction for tax-free profit on transfer of assets to companies in the same group.
- Addition for diff. between tax entry value and remuneration transferred from companies in the same group.
- Activated fixed assets to be expensed for tax purposes