1. This account accounts for the funds of financial assets, such as bills, securities, loans, etc., which are bought by enterprises (finance) according to the resale agreement and then sold back to the seller at a fixed price.
2. This course should be accounted for in detail according to the types of financial assets bought and sold back and the financing party.
3. The main accounting treatment of financial assets purchased for resale:
① When purchasing financial assets according to the resale agreement, an enterprise shall debit the account according to the sum of the actual payment price and transaction costs, and credit the accounts such as "deposit with the central bank", "settlement reserve" and "bank deposit".
(2) On the balance sheet date, the amount of interest income from buying and selling back financial assets shall be calculated and determined according to the nominal interest rate agreed in the contract, and this account shall be debited and credited to such subjects as "interest income" and "investment income".
After receiving the interest and cash dividends paid for the financial assets purchased for resale, debit the subjects such as "funds deposited in the central bank", "settlement reserve" and "bank deposits" and credit the subjects such as "dividends receivable".
If the nominal interest rate agreed in the contract differs greatly from the actual interest rate, the interest income shall be calculated and determined by using the actual interest rate.
(3) On the resale date, according to the resale price received, debit the subjects such as "money deposited in the central bank", "settlement reserve" and "bank deposit", credit the subjects according to the book balance, and credit the subjects such as "interest income" and "investment income" according to the difference.
Where an enterprise has the right to obtain bills, securities, loans and other assets that should be resold at a fixed price in the case of the counterparty's default, it should debit the subjects such as "transactional financial assets" and "loans" according to the fair value of the acquired assets, and debit the subjects such as "money deposited in the central bank", "settlement reserve" and "bank deposits" according to the performance bond paid by the counterparty, and credit the book balance.
Transaction costs arising from the acquisition of bills, securities, loans and other assets shall be included in the initial recognition amount of the acquired assets, except those classified as transactional financial assets.
(4) Debit balance at the end of this course reflects the balance of financial assets purchased by enterprises that have not been sold back.
Tips: The above instructions are for reference only and do not make any suggestions. If you need to solve specific problems (especially in the fields of law, accounting and medicine), I suggest you consult professionals in related fields in detail.
Reply time: 202 1- 10-27. Please refer to the latest business changes announced by Ping An Bank in official website.