The company originally had several project departments, and now one of the project departments has b

1. Are you setting up a branch or a subsidiary?

A branch company does not have legal personality, but is only a branch of the head office, which is part of the head office and does not require registered capital, and its legal liabilities and profits and losses belong to the head office. It is not independent accounting, self-financing, but separate accounting, and its accounting statements are not independent of the outside world, only for internal assessment, and the accounting data must be summarized into the head office statement. In day-to-day accounting, the head office and its branches are traded internally rather than through equity investment and paid-in capital.

A subsidiary is an independent legal person with independent accounting and self-financing, and the parent company is its investor and is a wholly-owned shareholder or controlling shareholder. The parent company has a long-term equity investment account, and the subsidiary corresponds to the paid-in capital. Each of them issues separate accounting statements, and the parent company can prepare another consolidated accounting statement.

2. Whether it is a branch or a subsidiary, opening a new account can be handled in this way:

According to the balance of the sub-accounts of the original accounts of each account on the project department, the balance sheet is prepared, and the difference between assets and liabilities is listed as other payables if it is a branch - the headquarters of the company, and if it is a subsidiary, it is listed as paid-in capital.

Open new accounts based on this balance sheet.

The balance of the original set of accounts separated from each account is all reduced, and the difference is carried forward to other receivables - branch if it is a branch, and it is carried forward to long-term equity investment if it is a subsidiary.

In addition, when applying for industrial and commercial registration in the local area:

As long as the branch is registered in accordance with the requirements of the branch, the business license of the branch is issued, and the registered capital is not required.

If the subsidiary wants to subscribe to the registered capital, it can use the amount of net assets of the separated balance sheet as the capital contribution, so that the later accounting is relatively simple to connect with the former project department.

Because the capital contribution with net assets is required to be evaluated, if the registered capital is evaluated, it must be subscribed according to the appraised value, and the difference with the original balance sheet must be regarded as the difference of long-term equity investment in the parent company, and the accounting is more complicated.

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The so-called two books of accounts means that the project department makes an income and expenditure flow account, and the profit and loss are still included in the company, or the project department calculates the profit and loss as an accounting entity. These are two concepts.

If the project department makes a flow account, the receipt and payment with the project department are recorded through other receivables.

If the project department does the accounting main account, the receipts and payments of the project department are recorded"Pull belonging"The project department will be credited to the superior to withdraw the funds.

According to what you said, "before the establishment of the project department, the expenses incurred in the project were paid directly to the construction unit by our company, and the invoices and vouchers were accounted for in our company (recorded in the construction in progress and long-term amortized expenses)". It can be judged that the item department only calculates the income and expenditure flow account, and does not independently record the profit and loss account as an accounting entity. It is therefore advisable to account for other receivables.

Please refer to the chapter on consolidated financial statements, which is simply the offsetting of transactions and gains and losses. First, check the related party transactions and transactions, and then prepare the offset entries, and then consolidate the financial statements. I can't tell you one or two of these sentences, so I recommend reading a book, or an example.

Transactions are offset, and profits and losses are added or subtracted.