Account 466 - Fixed asset expenses source

1. Accounting Principles
This account is used to record existing amount and increases or decreases in fixed asset expenses source. Only recorded an increase in fixed asset expenditure source when units purchase fixed assets, invest in new construction, upgrade, improve, extend existing fixed assets, these operations will be recorded an increase in historical price of fixed assets by expenses source for non-business and projects, granted by State budget or received from grant, financing, delivered for use in non-business activities and projects
b) fixed asset expenditure source is recorded a decrease when calculating depreciation of fixed assets, or selling, liquidation, discovering fixed assets deficit when carrying out inventory, refunding for State, or transferring fixed assets to other units according to orders of seniors, of State

2. Structure and contents of account 466 - Fixed asset expenses source
Debit side: Fixed asset expenses source decreases, including:
- Refunding to State or transferring fixed assets, used for non-business and projects activities according to the decision of State bodies or authorized agencies;
- Calculating fixed assets depreciation used for non-business and projects activities;
- Selling, liquidating fixed assets or discovering deficiency of fixed assets used for non-business and projects activities
- Net book value of fixed assets decreases due to revaluation.
Credit side: Fixed asset expenses source increases, including:
- Investing, purchasing accomplished fixed assets used for non-business and projects activities;
- Being granted non-business expenses, projects expenses, receiving grant in fixed assets;
- Net book value of fixed assets increases due to revaluation.
Credit Balance: Existing fixed asset expenses source at units.

3. Method of accounting for several major transactions

In case expenses are granted from State budget, senior units in fixed assets or using expenses for non-business or projects, non-refund aid to purchase fixed assets to invest in capital investment, when procurement of fixed assets, capital investment accomplished, assets taken in use for non-business and projects activities, record:
Dr 211 - Tangible fixed assets
Dr 213 - Intangible fixed assets
Cr 111, 112, 241, 331, 461,...
Concurrently, record:
Dr 161 - Expenses of non-business and projects
Cr 466 - Fixed asset expenses
b) At end of fiscal year period, calculating fixed assets depreciation, invested or purchased by expenses sources for non-business and projects, used for non-business and projects activities, record:
Dr 466 - Fixed asset expenses
Cr 214 - Accumulated depreciation of fixed assets.
c) When selling or liquidating fixed assets used for non-business and projects activities, record:
- Recording a decrease in fixed assets sold or liquidated:
Dr 466 - Fixed asset expenses source (net book value)
Dr 214 - Accumulated Depreciation of fixed assets (depreciation value)
Cr 211 - Tangible fixed assets (cost)
Cr 213 - Intangible fixed assets (cost)
- Receipts and expenditures, and difference between receipts and expenditures on sale and liquidation of fixed assets invested by expenses source for non-business and projects, will be
settled and treated according to the decision on sale and liquidation of fixed assets of authorized agencies
d) Accounting for transfer of assets being the welfare projects: For assets being welfare projects funded by the state budget, if enterprises equitized from 100%-state-owned enterprises continue to use for business purposes, accountants record:
Dr 466 - Fixed asset expenses
Cr 411 - owner‘s capital

Source: Circular 200, Article 77