What is account 161 ? How to account for account 161? Please refer to information related to account 161 – Career expenses in the following article of MISA MeInvoice .
Note: You can refer to other accounting accounts according to the accounting system of Circular 200 in the article for further reading.
See more: Accounting system according to the latest circular 200
Table of Contents Hide
1. Accounting principles for account 161 – Career expenses
2. Structure and content of account 161 – Career expenses
3. Accounting method for some major economic transactions of account 161 – Career expenses
Conclusion
1. Accounting principles for account 161 – Career expenses
account 161 career expenses
A) this account reflects the expenditures. For career and project activities to carry out economic. Political and social tasks assigned by the. State or superiors to the enterprise other. Than the production and business tasks and not for. The purpose of oman telegram data profit of the enterprise. The expenditures for career and project .activities are covered by career funds, project. Funds provided by the state budget or superior enterprises. Or are provided with non-refundable aid or sponsorship. This account is only used in enterprises. Whose career activities and project activities are. Funded by the state budget or superiors. Or are provided with non-refundable aid or sponsorship. Or are allowed to collect career revenues to cover the expenditures.
b) Must open detailed accounting books for
career and project expenses according to artificial Power in dream analysis each source of funding, according to the accounting year, budget year and according to the classification of the State Budget table of contents.
c) Accounting for career and project expenses must be consumer data consistent with the budget preparation work and must ensure consistency between accounting books, documents and financial statements.
d) Record into this account the expenses of the enterprise’s annual business and project budget, including regular and irregular expenses according to the current financial regime.
d) At the end of the accounting year, if the final settlement has not been approved, all career and project expenses during the year will be transferred from the credit side of account 1612 “Current year career expenses” to the debit side of account 1611 “Previous year career expenses” for monitoring until the final settlement report is approved.
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2. Structure and content of account 161 – Career expenses
The Debit side includes:
3. Accounting method for some major economic transactions of account 161 – Career expenses
Accounting for account 161 career expenses
a) Receive career funds, project funds provided by the State Budget by payment order or career funds provided by superiors in cash, record:
Debit accounts 111, 112
Credit account 461 – Career funding source (4612).
b) When withdrawing the budget for career and project expenses to fund or purchase materials, tools or pay directly to the seller, or pay directly, record
