Hello student. Basic provisions for accounting and analysis of the financial results of an enterprise Accounting for the financial results of an enterprise

The activities of any enterprise are aimed at results, but they are not always positive. It is thanks to accounting that the income received and the costs incurred are calculated. The difference between these two concepts in accounting is called financial result. Let's consider the entries generated when determining the financial result.

Calculating results or generating final financial results

The determination of the final financial results of the enterprise is carried out monthly, which makes it possible to assess the effectiveness of its functioning and timely assess situations in order to make adequate management decisions.

The final financial result of the enterprise for the reporting period consists of the financial result from ordinary activities and the balance of other income and expenses.

To calculate financial results in accounting, account 99 “Profit and Loss” is used. This account allows you to accumulate income and expenses in the context of their activities:

1. Income and expenses received from the main activity;
2. Other income and expenses;
3. Income and expenses received as a result of emergency situations at the enterprise (natural disasters, fires, accidents).

As for the procedure for reflecting information on this account, the amount of losses incurred is recorded here as a debit, and the amount of profit received as a credit.

The financial results are calculated monthly, but the final performance indicators are adjusted based on the results of the past year.

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If, based on the results of the past year, the enterprise operates with a profit, then the organization’s managers have the right to use it in several directions:

1. Fill the needs of the organization (purchase of non-current assets);
2. Dividend payment;
3. Covering losses incurred in previous periods of activity.

Procedure for calculating income tax

The final indicator of the financial result is influenced not only by the amount of income received and costs incurred, but also by the amount of accrued tax payments for income tax.

Please note that in accounting, income tax is reflected in two stages:

1. Initially, tax is charged on accounting profits;
2. Adjustment of accounting profit in accordance with tax accounting data.

The calculation of tax on accounting profit (loss) or as it is also called conditional income (loss) is carried out according to the formula:

• Accounting profit tax = Profit tax rate percentage * Accounting profit indicator shown in line 2300 of the income statement.

The resulting amount of accounting profit tax is adjusted at the end of the year by the amount of the same tax, but in accordance with tax accounting data. The amount of income tax in tax accounting is calculated using the formula:

It should be noted that the amount of taxable profit is not reduced by the amount of accrued tax in accounting.

Determination of financial result: posting table

Account Dt	Kt account	Transaction amount, rub.	Wiring description	A document base
90/9	90/2, 90/3, 90/4	1 218 800	Closing debit balances on the product sales account	Accountant's certificate
90/9	99	1 218 800	According to the final data of the reporting period, profit was received from the main activity	Accountant's certificate
99	90/9	95 000	According to the final data of the reporting period, a loss was received from the main activity	Accountant's certificate
91/9	91-2	54 900	Closing debit balances received from other income and expenses	Accountant's certificate
91/9	99	54 900	Upon closing the results obtained from other income and expenses, profit was formed	Accountant's certificate
99	91/9	28 000	Upon closing the results received from other income and expenses, a loss was formed	Accountant's certificate
99	68	13 500	Displays the accrual of income tax for its subsequent payment to the budget	Accountant's certificate
99	84	86 900	Net profit received for the year of activity of the enterprise	Accountant's certificate
84	99	52 000	The amount of loss received during the year of the enterprise’s activity is reflected	Accountant's certificate

The financial result is the result of the economic activities of the organization and its divisions, expressed in the form of financial indicators, such as profit (loss), change in the value of equity capital, accounts receivable and payable, income.

When maintaining accounting records, information about the organization's income and expenses, as well as the final financial result of its activities for the reporting period, is reflected in the accounts provided for this by the Chart of Accounts and the Instructions for its application.

To summarize information about the organization’s income and expenses, as well as to identify the final financial result of activities for the reporting period according to the Chart of Accounts, the following accounts are used:

• - 90 "Sales";
• - 91 “Other income and expenses”;
• - 94 “Shortages and losses from damage to valuables”;
• - 96 “Reserves for future expenses”;
• - 97 "Future expenses";
• - 98 “Deferred income”;
• - 99 "Profits and losses."

Account 90 “Sales” is used to summarize information about income and expenses associated with the organization’s normal activities, as well as to determine the financial result for them.

This account may reflect, in particular, revenue and cost:

• - for finished products and semi-finished products of own production;
• - purchased products (purchased for completion);
• - goods;
• - services for the transportation of goods and passengers;
• - communication services;
• - participation in the authorized capital of other organizations (when this is the subject of activity), etc.

The amount of revenue from the sale of goods, products, performance of work, provision of services, etc. is reflected in the credit of account 90 and the debit of account 62 “Settlements with buyers and customers.” At the same time, the cost of goods sold, products, works, services, etc. is written off from the credit of accounts 43 “Finished products”, 41 “Goods”, 44 “Sales expenses”, 20 “Main production” to the debit of account 90.

In organizations engaged in the production of agricultural products, the credit of account 90 reflects the proceeds from the sale of products in correspondence with account 62. The debit of account 90 writes off the actual cost of production from the credit of the product accounting accounts.

In industries where the actual cost of products sold is determined at the end of the year, during the year the planned cost of production is written off to account 90. At the end of the year, the difference between the planned and actual cost of products sold is determined and the amount of the differences is debited to account 90 (or reversed) in correspondence with the accounts in which these products were recorded.

In organizations engaged in retail trade and keeping records of goods at sales prices, the credit of account 90 reflects the sales value of goods sold (in correspondence with the cash and settlement accounts), and the debit reflects their accounting value (in correspondence with account 41 "Goods" ") with the simultaneous reversal of the amounts of discounts (markups) related to the goods sold (in correspondence with account 42 "Trade margin").

Sub-accounts can be opened for account 90:

• - 90/1 "Revenue";
• - 90/2 “Cost of sales”;
• - 90/3 “Value added tax”;
• - 90/4 "Excise taxes";
• - 90/9 "Profit/loss from sales".

Organizations that pay export duties can open a subaccount 90/5 “Export duties” to account 90 to record their amounts.

Subaccount 90/9 is intended to identify the financial result (profit or loss) from sales for the reporting month.

Entries for subaccounts 90/1 - 90/4 are made cumulatively during the reporting year. By monthly comparison of the total debit turnover in subaccounts 90/2 - 90/4 and credit turnover in subaccount 90/1, the financial result (profit or loss) from sales for the reporting month is determined.

This financial result is written off monthly (with final turnover) from subaccount 90/9 to account 99 “Profits and losses”. Thus, the synthetic account 90 does not have a balance at the reporting date.

At the end of the reporting year, all subaccounts opened to account 90 (except for subaccount 90/9) are closed with internal entries to subaccount 90/9.

Analytical accounting for account 90 is maintained for each type of goods sold, products, work performed, services provided, and, if necessary, in other areas (by sales regions, etc.).

Revenue is the amount of money that an organization has received or should receive from buyers (customers) for goods sold to them (products, work performed, services rendered). The amount of revenue is reflected in subaccount 90/1 if it is received from ordinary activities of the organization, i.e. from the sale of products and goods, performance of work or provision of services. To account for other income, subaccount 91/1 “Other income” of account 91 “Other income and expenses” is used.

As a rule, the usual activities of an organization are specified in its charter (in the section “Types of activities”). However, this section of the charter often states that the organization can carry out “any activity not prohibited by law.”

In this case, income is considered to be received from ordinary activities if the organization receives it regularly and its amount exceeds 5% of the total revenue for the reporting period.

When recording revenue from ordinary activities, the following entry must be made:

D-t 62 K-t 90/1 - the amount of revenue from the sale of goods (products, work, provision of services) is recognized.

It is necessary to reflect revenue in accounting immediately after the ownership of the goods (products) sold by your organization has transferred to the buyer (the work is accepted by the customer, the service is provided).

As a rule, this happens at the time of shipment of goods (products) or at the time of transfer to the customer of the results of work performed (services provided).

Simultaneously with the reflection of revenue, the cost of goods sold (products, work performed, services provided) should be written off to the debit of subaccount 90/2:

D-t 90/2 K-t 41 (43, 45, 20) - the cost of goods sold (products, work performed, services rendered) is written off.

On the debit of subaccount 90/2, it is necessary to indicate the cost of only those goods (products, works, services), the income from the sale of which is accounted for on the credit of subaccount 90/1.

The purchase and sale agreement may provide that ownership passes to the buyer not at the time of shipment of the goods, but later (for example, after payment for the goods). An agreement containing such a condition is also called an agreement with a special transfer of ownership. In this case, you should record revenue only after receiving money from the buyer. And goods transferred to the buyer under such an agreement, until payment is made, are recorded in account 45 “Goods shipped”. In this case, the following entry is made in accounting:

D-t 45 K-t 41 (43) - goods (finished products) were shipped under a contract with a special transfer of ownership.

Account 91 “Other income and expenses” is intended to summarize information on other income and expenses of the reporting period.

The following is reflected in the credit of this account during the reporting period:

• - receipts related to the provision for a fee for temporary use (temporary possession and use) of the organization’s assets - in correspondence with accounts of settlements or cash;
• - receipts related to the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property - in correspondence with accounts of settlements or cash;
• - receipts related to participation in the authorized capitals of other organizations, as well as interest and other income on securities - in correspondence with settlement accounts;
• - profit received by the organization under a simple partnership agreement - in correspondence with account 76 (sub-account “Calculations for due dividends and other income”);
• - receipts related to the sale and other write-off of fixed assets and other assets other than cash in Russian currency, products, goods - in correspondence with the accounts of settlements or cash;
• - receipts from operations with containers - in correspondence with container accounting and settlement accounts;
• - interest received (receivable) for the provision of funds to the organization for use, as well as for the credit organization’s use of funds in the organization’s account - in correspondence with the accounts of financial investments or funds;
• - fines, penalties, penalties for violation of the terms of contracts, received or recognized for receipt - in correspondence with the accounts of settlements or cash;
• - receipts related to the gratuitous receipt of assets - in correspondence with the accounting account for deferred income;
• - receipts for compensation of losses caused to the organization - in correspondence with settlement accounts;
• - profit of previous years, identified in the reporting year, - in correspondence with the accounts of settlements;
• - amounts of accounts payable for which the statute of limitations has expired - in correspondence with accounts payable accounts;
• - Other income.

The debit of account 91 during the reporting period reflects:

• - expenses associated with the provision for a fee for temporary use (temporary possession and use) of the organization’s assets, rights arising from patents for inventions, industrial designs and other types of intellectual property, as well as participation in the authorized capital of other organizations - in correspondence with cost accounts;
• - the residual value of assets for which depreciation is calculated, and the actual cost of other assets written off by the organization - in correspondence with the accounts of the relevant assets;
• - expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash in Russian currency, goods, products - in correspondence with cost accounts;
• - expenses for operations with containers - in correspondence with cost accounts;
• - interest paid by an organization for providing it with funds (credits, borrowings) for use - in correspondence with the accounts of settlements or funds;
• - expenses associated with payment for services provided by credit institutions - in correspondence with settlement accounts;
• - fines, penalties, penalties for violation of the terms of contracts, paid or recognized for payment, - in correspondence with the accounts of settlements or funds;
• - expenses for maintaining production facilities and mothballed facilities - in correspondence with cost accounts;
• - compensation for losses caused by the organization - in correspondence with settlement accounts;
• - losses of previous years recognized in the reporting year - in correspondence with the accounts of settlements, depreciation, etc.;
• - deductions to reserves for the depreciation of investments in securities, for a decrease in the value of material assets, for doubtful debts - in correspondence with the accounts of these reserves;
• - amounts of receivables for which the statute of limitations has expired, and other debts that are unrealistic for collection - in correspondence with accounts receivable accounts;
• - exchange rate differences - in correspondence with accounts for cash, financial investments, settlements, etc.;
• - expenses associated with the consideration of cases in courts - in correspondence with accounts of settlements;
• - other expenses.

Sub-accounts can be opened for account 91:

• - 91/1 “Other income”;
• - 91/2 "Other expenses";
• - 91/9 "Balance of other income and expenses."

Entries for subaccounts 91/1 and 91/2 are made cumulatively during the reporting year. On a monthly basis, by comparing the debit turnover in subaccount 91/2 and the credit turnover in subaccount 91/1, the balance of other income and expenses for the reporting month is determined.

This balance is written off monthly (with final turnover) from subaccount 91/9 to account 99 “Profits and losses”. Thus, as of the reporting date, the synthetic account 91 does not have a balance.

At the end of the reporting year, all subaccounts opened to account 91 (except for subaccount 91/9) are closed with internal entries to subaccount 91/9.

Analytical accounting for account 91 is carried out for each type of other income and expenses. At the same time, the construction of analytical accounting for other income and expenses related to the same financial or business transaction should ensure the ability to identify the financial result for each operation.

Account 94 “Shortages and losses from damage to valuables” is used to summarize information on the amounts of shortages and losses from damage to material and other assets (including money) identified in the process of their procurement, storage and sale, regardless of whether they are subject to inclusion in accounts accounting for production costs (selling costs) or those responsible. Losses of valuables resulting from natural disasters are included in account 99 as losses of the reporting year (uncompensated losses from natural disasters).

The debit of account 94 reflects:

• - for missing or completely damaged inventory items - their actual cost;
• - for missing or completely damaged fixed assets - their residual value (initial cost minus the amount of accrued depreciation);
• - for partially damaged material assets - the amount of determined losses, etc.

For shortages and damage to valuables, entries are made in the debit of account 94 from the credit of the accounts of the said valuables.

When the buyer, upon acceptance of valuables received from suppliers, identifies a shortage or damage, then the amount of the shortage within the limits provided for in the contract is attributed when capitalizing the valuables to the debit of account 94 from the credit of account 60 “Settlements with suppliers and contractors”. The buyer presents the amount of losses in excess of the amounts stipulated in the contract to the supplier or transport organization and is recorded in the debit of account 76 (sub-account “Settlements for claims”) and the credit of account 60.

If the court refuses to collect losses from suppliers or transport organizations, the amount previously debited to account 76 (sub-account “Settlements for claims”) is written off to account 94.

If the court has decided to recover from the supplier amounts of shortages and losses of valuables in excess of the amounts stipulated in the contract, in the supplier’s accounting the amount of sales previously reflected in the debit of accounts 62 “Settlements with buyers and customers” or 51 “Settlement accounts”, 52 “Currency accounts " and credit account 90 "Sales", reverse the amount of shortages and losses collected by the buyer.

At the same time, the specified amount is reflected by a regular entry in the debit of accounts 62 or 51, 52 and the credit of account 76 “Settlements with various debtors and creditors.” When transferring amounts to the buyer, account 76 is debited in correspondence with account 51. The supplier must also reverse the turnover on the debit of account 90 and the credit of account 43 “Finished products”. The amount thus restored to account 43 is then written off to the debit of account 94.

On the credit of account 94 the write-off is reflected:

• - shortages and damage to valuables within the limits stipulated in the contract - to the accounts of material assets (when they are identified during procurement);
• - shortages and damage to valuables within the limits of natural loss - to the accounts of production costs and sales costs (when they are identified during storage or sale);
• - shortage of valuables in excess of the values ​​(norms) of loss, losses from damage - to the debit of account 73 (sub-account “Calculations for compensation of material damage”);
• - shortage of valuables in excess of the values ​​(norms) of loss and losses from damage to valuables in the absence of specific culprits, as well as shortage of inventory items, the recovery of which was refused by the court due to the groundlessness of the claims - to account 91.

The credit of account 94 reflects amounts in the amounts and values ​​accepted for accounting in the debit of the specified account. At the same time, missing or damaged material assets are written off to the production cost (sales cost) accounts at their actual cost.

When recovering from the perpetrators the cost of missing valuables, the difference between their value credited to account 73 “Settlements with personnel for other operations” and the value reflected on account 94 is taken into account on account 98 “Deferred income”.

As the amount due is collected from the guilty person, the specified difference is written off to the debit of account 98 and the credit of account 91.

Shortages of valuables identified in the reporting year, but relating to previous reporting periods, recognized by financially responsible persons or for which there are court decisions to recover from the guilty persons, are reflected in the debit of account 94 and the credit of account 98.

At the same time, account 73 is debited with these amounts (sub-account “Calculations for compensation of material damage”) and account 94 is credited. As the debt is repaid, account 98 is debited and account 91 is credited.

Account 96 “Reserves for future expenses” is used to summarize information about the status and movement of amounts reserved for the purpose of uniform inclusion of expenses in production costs and selling expenses. In particular, this account may reflect the following amounts:

• - upcoming payment of vacations (including payments for social insurance and security) to the organization’s employees;
• - for the payment of annual remuneration for long service;
• - production costs for preparatory work due to the seasonal nature of production;
• - for repairs of fixed assets;
• - upcoming costs for land reclamation and implementation of other environmental measures;
• - for warranty repairs and warranty service.

The reservation of certain amounts is reflected on the credit of account 96 in correspondence with the accounts of production costs and sales costs.

Actual expenses for which a reserve was previously created are debited to account 96 in correspondence, in particular, with the accounts:

• - 70 “Settlements with personnel for remuneration” - for the amount of remuneration to employees during vacation and annual remuneration for length of service;
• - 23 “Auxiliary production” - for the cost of repairs of fixed assets carried out by a division of the organization.

The correctness of the formation and use of amounts for a particular reserve is periodically (and at the end of the year - mandatory) checked according to estimates, calculations and, if necessary, adjusted.

Analytical accounting for account 96 is carried out for separate reserves.

Account 97 "Expenditures of future periods" is used to summarize information about expenses incurred in a given period, but relating to future reporting periods. In particular, this account may reflect expenses associated with mining and preparatory work, work on preparation for production due to their seasonal nature, the development of new production facilities, installations and units, land reclamation and the implementation of other environmental measures carried out unevenly during year by repair of fixed assets (when the organization does not create an appropriate reserve or fund), etc.

Expenses recorded on account 97 are written off to the debit of accounts 20 “Main production”, 23 “Auxiliary production”, 25 “General production expenses”, 26 “General business expenses”, 44 “Sales expenses”, etc.

Analytical accounting for account 97 is carried out by type of expense.

Account 98 “Deferred Income” is intended to summarize information on income received (accrued) in the reporting period, but relating to future reporting periods, as well as upcoming receipts of debt for shortfalls identified in the reporting period for previous years, and the differences between the amount due recovery from the guilty parties, and the value of valuables accepted for accounting when shortages and damage are identified.

Sub-accounts can be opened for account 98:

• - 98/1 “Income received for future periods”;
• - 98/2 “Gratuitous receipts”;
• - 98/3 “Upcoming debt receipts for shortfalls identified in previous years”;
• - 98/4 “The difference between the amount to be recovered from the guilty parties and the book value for shortages of valuables”, etc.

Subaccount 98/1 takes into account income received in the reporting period, but relating to future reporting periods: rent or apartment payments, utility bills, revenue for freight transportation, passenger transportation on monthly and quarterly tickets, subscription fees for the use of communications and etc.

On the credit side, accounts 98, in correspondence with the cash accounts or settlements with debtors and creditors, reflect the amounts of income relating to future reporting periods, and on the debit side, the amounts of income transferred to the corresponding accounts upon the onset of the reporting period to which these incomes relate.

The final financial result (net profit or net loss) is composed of the financial result of ordinary activities, as well as other income and expenses. On the debit side, account 99 reflects losses (losses, expenses), and on the credit side, the profit (income) of the organization. A comparison of debit and credit turnover for the reporting period shows the final financial result of the reporting period. Account 99 during the reporting year reflects:

• - profit or loss from ordinary activities - in correspondence with account 90 “Sales”;
• - the balance of other income and expenses for the reporting month - in correspondence with account 91 “Other income and expenses”;
• - the amount of accrued conditional income tax expense, permanent liabilities and payments for recalculation of this tax from actual profit, as well as the amount of tax penalties due - in correspondence with account 68 “Calculations for taxes and fees”.

At the end of the reporting year, when preparing annual financial statements, account 99 is closed. With the final entry in December, the amount of net profit (loss) of the reporting year is written off from account 99 to the credit (debit) of account 84 “Retained earnings (uncovered loss).” The construction of analytical accounting for account 99 should ensure the generation of data necessary for drawing up a profit and loss statement

Accounting for financial results is a very important process, because it is from correctly filled out accounting forms that the owners of the company and its managers subsequently receive the data they need to make important economic decisions. Profits are subject to tax, which is a significant source of the state budget. Finally, it is precisely this that is the basis on which investments can be made in the further development of the enterprise.

If incorrect accounting entries are made or profits are calculated incorrectly, this may expose the company to certain sanctions from supervisory authorities. In addition, such distortion of information can lead to significant management decisions being made incorrectly.

How are financial performance results determined?

Financial result is the delta between the company's income and expenses in the reporting period. If during this calculation a positive value is obtained, this means that the organization has received a profit, which it can use at its discretion, including to increase its own capital. If the value is negative, then the company suffered losses.

This calculation is very important for assessing the effectiveness of the organization as a whole. A decrease in profit or its negative value is an alarming signal that something is going wrong. Perhaps the company needs:

• Reduce production;
• Review your marketing policy;
• Change the composition of managers, etc.

In any case, this is an important incentive for both management and owners to develop measures to reduce losses.

On the other hand, high profits are a positive sign that can encourage a commercial organization to expand its activities. The funds can be used to invest in production (according to statistics, in developed countries up to 70% of profits are allocated for these purposes) and social development, it is from them that dividends are paid to securities holders. This is the basis for updating production assets and further improving products, which may become obsolete over time.

Profit can be divided into two types:

• Accounting;
• Economic.

The first concept has been used in our country since 1999. This is a financial result calculated on the basis of all accounting data. This definition is somewhat narrow and does not take into account a large number of alternatives for using the company’s own funds.

Economic profit is the increase in the value of an enterprise. It has a fundamentally different meaning. For example, if a company allocated 100 thousand rubles to the development of a new product line and received revenue of 110 thousand rubles during the month, then its monthly accounting profit is equal to 10 thousand rubles. On the other hand, by simply investing this amount in the bank, the company could receive 12 thousand rubles on top. This means that its economic profit is negative, because the company did not take advantage of the most profitable of all possible alternatives for using funds.

Both of the above definitions reflect the financial result of the organization in the abstract. When it comes to the process of planning or economic analysis at an enterprise, specific indicators are calculated, for example, gross profit, profit before tax, etc. It is such data that allows us to judge how successful a company is in its field of activity.

What are the functions of profit in a market economy?

Profit, without exaggeration, can be called the most important economic category, because it performs a number of significant functions:

• It shows how effective the company’s activities are in the chosen direction. This serves as the basis for the owners to evaluate the professionalism of management, as well as for the formation of a positive attitude towards the commercial organization on the part of consumers of its products;
• It becomes the basis for further expansion of production, improvement of business processes, improvement of working conditions for personnel, improvement of goods or services;
• Profit is one of the sources that fills the state budget (income tax). It is from it that money is drawn for federal and regional programs, infrastructure development and many other important needs;
• It stimulates the further development of the company. When an organization receives a good financial result, this makes its management team understand that even greater success can be achieved in the chosen direction. As a result, there is an expansion, coverage of related industries, etc.

Correct accounting of financial results is very important, because it is thanks to it that the right management decisions can be made that will lead the company to prosperity.

What is the structure of the company's financial results?

The financial result of any organization can be divided into two relatively independent blocks:

1. Profit received from core activities. This is the money that the company receives from what it was, in fact, created for: from selling its products (providing services);
2. Profit not related to the main activity: from leasing or subleasing property, from the sale of assets owned by the company, from the sale of patents and licenses, from investing funds on deposit or in the authorized capital of other organizations, etc.

The second part of the profit is other financial result, which consists of non-operating and operating profit and is not related to the main activity.

If in a certain period the company did not make a profit from the sale of its goods, then its total financial result will be equal to the rest. If profit from the main activity has been received, then you need to add it with other income and subtract other expenses from this amount.

The main legal acts governing the accounting of financial results are:

• Chapter 25 of the Tax Code of the Russian Federation “Organizational profit tax”;
• PBU “Organization expenses” (No. 10/99);
• PBU “Income of the organization” (No. 9/99);
• PBU “Accounting statements of an enterprise” (No. 4/99).

These documents introduce the following definitions:

• An organization's income is an increase in its economic benefits as a result of the receipt of assets and a decrease in its liabilities;
• A company's expenses are a decrease in economic benefits associated with the disposal of assets and an increase in liabilities;
• Accounting regulations define a list of criteria that a particular economic transaction must meet in order to be classified as income or expense.

What criteria must an organization's expenses meet?

According to current legislation, expenses have the following characteristics:

• The basis for payment is a contract, legal requirements or business customs;
• Disposal has a monetary value;
• An enterprise can be absolutely sure that a particular operation will lead to a decrease in its economic benefits, in other words, it will cause a reduction in its assets.

If at least one of these three conditions is not met, then the payment cannot be reflected in the company's accounting records as an expense. It is posted as accounts receivable.

If the operation meets the above criteria, then it must be reflected in the appropriate accounts of the financial statements. This fact does not depend on whether the organization plans to receive revenue from core, non-operating or financial activities in the same period, as well as on the specific form in which the payment was made (in kind, cash or any other).

There are situations in which the disposal of assets cannot be regarded as a company expense. These are the cases when:

• The money was used to purchase fixed assets or intangible assets;
• An advance payment has been made under the supply agreement;
• A contribution was made to the authorized capital of another organization for the purpose of further profit;
• The company has repaid a previously received loan or loan;
• The company makes payments resulting from the commission agreement or agency agreement.

Depreciation is also included in the financial statements as an expense. The specific amount for each period is calculated based on the cost of fixed assets (or intangible assets), their expected service life, and accounting policies that determine the method for calculating depreciation charges.

All expenses can be divided into two large groups in accordance with their economic essence:

• For core activities, these are all costs that accompany the production and sale of products, as well as depreciation;
• Other are those costs that are associated with leasing property and participating in the activities of other companies, interest on loans and borrowings, fines and penalties for violating the terms of contracts, etc.

Expenses are reflected in the period in which they were accrued, regardless of when exactly the payment is due and in what form (cash, in kind, etc.) it will be made.

What is enterprise income?

Current legislation defines an organization's income as an increase in its economic benefits associated with the receipt of assets in cash, property or any other form, as well as with the repayment of its existing liabilities.

The following receipts cannot be classified as income:

• Advance payment for goods, works and services;
• VAT amounts received from counterparties;
• Funds received under agency or commission agreements in favor of third parties;
• Advances and deposits;
• Pledges, if under the terms of the agreement they pass into the possession of the pledgee;
• Amounts used to repay loan agreements previously provided by the enterprise.

All company income can be divided into two large groups: income from core activities (revenue) and other income. The former are reflected in account 90 – “Sales” in the financial statements. The latter are divided into three more categories:

• Operational - associated with leasing property, as well as granting third parties the right to use intangible assets (patents, rights to inventions, etc.). The only exceptions are those organizations for which rental activities are considered the main activity;
• Non-operating assets are assets donated to the organization or transferred to it free of charge, proceeds to compensate for previously caused losses, fines and penalties received, exchange rate differences, profits from previous years identified in the current period, etc.;
• Extraordinary are those revenues that arise as a result of the occurrence of extraordinary circumstances, for example, insurance compensation.

According to current legislation, both income and expenses of an enterprise are recognized in accordance with one of two methods:

• Cash - receipts and payments are taken into account in the period in which they were actually made, i.e. when the money left the current account or cash register (or arrived there);
• Accrual method - income and expenses are carried out in the period in which they were actually recognized by the organization, i.e. when they were accrued by her.

Increasing income is one of the most important goals of any company. Their growth becomes the basis for increasing profits, which are spent on further expansion and improvement of production.

What is the organization's revenue?

Revenue is the amount of money that an enterprise received (or will receive) from its counterparties for goods sold, work performed and services performed. It can arise not only as a result of the sale of products, but also in other transactions, for example, barter, in which case it is not in a monetary, but in a property format.

According to current legislative norms and recommendations, revenue is recognized by the company and reflected in the relevant accounting accounts only if it meets five criteria:

1. The right of an organization to receive funds in a certain amount is specified in the text of the agreement with the counterparty, follows from certain unwritten but generally accepted norms, or has another sufficiently compelling basis;
2. Receipts may have a specific monetary value;
3. The organization has full confidence that this economic transaction will lead to an increase in its benefits, i.e. there must be no uncertainty regarding the growth of its assets;
4. The concluded transaction led to the fact that the ownership of the products ceased to belong to the seller and passed to the buyer;
5. An economic transaction involves certain costs that can be defined in monetary terms.

If, with respect to any income received by the organization, both in the form of cash and in the form of tangible or intangible assets, at least one of the five essential criteria given is not met, then the amount cannot be reflected in the financial statements as revenue. In this case, it is posted as accounts payable.

An important feature of income accounting is that not all of them can be reflected as revenue. A striking example of this is commission trading, when the seller receives a large sum, but keeps only a small part of it for himself, and transfers the rest to the commission agent.

Revenue can be determined by the moment the product (work, service) is ready, if it is possible to clearly determine this moment. Organizations with long cycles use this especially often.

Most often, revenue is recognized in the company’s financial statements using the accrual method, i.e. regardless of the time of actual receipt of funds to the current account or cash register. However, small businesses have the right to use the cash method, when the link is made precisely to the moment of actual receipt of money.

There is a wide range of cases when revenue should be reflected in the financial statements in a special way:

• If a barter transaction occurs;
• If the buyer has been granted a commercial loan;
• If the buyer received discounts or bonuses;
• If the item is subsequently returned.

According to the provisions of PBU No. 9/99, in the same period an enterprise can use different methods for determining revenue for different operations. If its amount cannot be accurately calculated, then its value is recognized as the amount of the corresponding expenses, which will be reimbursed to the organization in the future.

How is the financial result formed?

Accounting for financial results allows you to reflect changes in the organization's equity capital arising as a result of financial and economic activities over a certain period of time. The relevant data is collected on account 99 “Profits and losses”. Its debit shows a loss, and its credit shows a profit.

All business transactions are reflected on this account on an accrual basis from the beginning of the reporting period. The account balance is one-sided, in other words, if the value is obtained by debit, then this means that in a particular period the company suffered losses, if by credit, then it earned a profit.

The size of the final financial result is influenced by the amount of income and expenses for both core and other activities. The only difference is that the former are reflected in account 90 “Sales”, and the latter – in account 91 “Other income and expenses”. Both of them are written off to account 99 at the end of the month (year, quarter).

The only exception to this rule is extraordinary income and expenses, which do not go through the intermediate stage and immediately “fall” into account 99. Similarly, tax sanctions received by this organization and the results of the recalculation of income taxes are immediately reflected there. Corresponding account – 68.

The accountant's algorithm for determining financial results is as follows:

• First, he calculates the amount of revenue. This can be done in two ways: taking into account the amount of VAT or without taking into account. It must be said that the first method is used much more often; it involves the formation of two entries: D 62 - K 90.3 (for the cost of goods) and D 90.3 - K 68 (to reflect VAT);
• Based on invoices, writes off the cost of shipped products. This can be done, for example, with the following wiring: D 90.2 - K 20 or D 90.2 - K 26;
• The resulting balance on accounts 90 and 91 is written off to account 99 and the amount of profit and loss that the company incurred in the current period is determined.

At the end of the period, account 99 must be closed. Profit or loss received in the process of financial and economic activities is written off to account 84 “Retained earnings”.

If by the end of the quarter or year the company has suffered losses, this means that it is spending its resources uneconomically, and the management decisions made by its management are incorrect. We need to look for a way out of this situation: change the management team, reduce production, transform business processes, etc.

If retained earnings have formed on account 84, then this is a good sign: the organization can invest in its further development and in improving working conditions for its staff. It has the ability to pay dividends to its members. The presence of profit is an indicator of the efficiency of the company.

What is a “Profit and Loss Statement”?

To analyze the financial results of an organization, there is a “Profit and Loss Statement”. This is a mandatory form of accounting reporting, which is called Form No. 2 and is submitted along with the balance sheet. It reflects all the results of the company's work on an accrual basis since the beginning of the year. The form of the report is approved by law: it is compiled vertically using the gross method (by turnover).

The report reflects the following important points:

• Income and expenses from core activities - that is, receipts and payments for those activities that are enshrined in the statutory documents of a legal entity. This is revenue and expenses associated with the production and sale of products (or provision of services);
• Other income and expenses - receipts and payments not related to core activities (operating, non-operating and emergency);
• Profit before tax – profit from sales adjusted to the amount of other income and expenses;
• The amount of net profit is the funds remaining at the disposal of the organization after paying taxes, fees and other obligatory payments. This is the basis for increasing the amount of equity capital, investing in production development and paying dividends.

The information presented in Form 2 allows you to assess changes in the company’s income and expenses, their dynamics in relation to previous periods, understand how gross and net profit is formed and what factors influence them.

Based on the analysis of the form, we can draw conclusions about:

• The value of profitability;
• The amount of revenue and cost indicator;
• The magnitude of different types of profit;
• Factors influencing these indicators;
• Opportunities to change the current situation for the better.

Ultimately, the report data, presented in table form, allows interested users to draw a conclusion about the extent to which the organization’s activities are effective and whether certain investments in its assets were appropriate.

How is financial results analyzed?

Accurate and correct accounting of financial results is necessary to ensure that all users receive undistorted information that allows them to make competent and informed economic decisions. Analysis can help them with this.

Financial analysis is the process of studying the financial results and condition of an enterprise, the main purpose of which is to build forecasts for its further development and develop effective proposals to increase its market value.

The main stages of such an analysis are:

• Selection of odds;

There are a large number of coefficients that, in one way or another, can describe the current state of affairs in the company. Of these, it is necessary to select several of the most significant ones, for example, solvency, profitability, financial stability, etc. Specific preferences depend on industry specifics and the characteristics of the company.

It is necessary to calculate the values ​​of the selected coefficients for a certain date (for this you will need the values ​​of expenses, profits and revenues), and also to prepare a basis for comparison by finding out the recommended or industry average indicators for a certain period.

• Express analysis;

This is a quick and clear assessment of a company's financial position. It involves three stages: preparatory, studying accounting data and making a “diagnosis”. In the process of work, the accountant (or analyst) studies the explanatory note to the balance sheet in order to understand trends in changes in key indicators and the reasons for such changes. Based on the study, an analytical conclusion is drawn with varying degrees of detail.

• Establishing diagnosis";

Having studied the financial results and main ratios, the analyst must assess the economic condition of the company, point out its vulnerabilities and development prospects, and put forward proposals regarding directions for further development.

• Development of financial solutions.

Based on the diagnostics carried out and the problems identified, the company’s responsible persons must develop management solutions to combat existing shortcomings and increase financial stability and profitability.

Competent reflection of the company's financial results and their correct interpretation is the basis for effective management of the organization. Only correct and undistorted information can become the basis for making the right decisions that will lead the company to development and prosperity.

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The financial result represents an increase or decrease in the value of the organization's equity capital formed in the process of its business activities during the reporting period. In accounting, it is determined by profit or loss.

In accordance with the Regulations on accounting and financial reporting in the Russian Federation, “accounting profit (loss) represents the final financial result (profit or loss) identified for the reporting period on the basis of accounting of all business transactions of the organization and the assessment of balance sheet items.”

The main indicators of profit (loss) are:

Gross profit, defined as the difference between the proceeds from the sale of goods, products (work, services) (minus VAT, excise taxes and other mandatory payments) and the cost of goods, products (work, services) sold;

Profit (loss) from sales, defined as the difference between gross profit and administrative and selling expenses;

Profit (loss) before tax, defined as the amount of profit (loss) from sales and other income reduced by the amount of other expenses;

Net profit (loss) of the reporting period, defined as the difference between profit (loss) before tax and tax and other mandatory payments from profit.

All these indicators are contained in Form No. 2 “Profit and Loss Statement”.

In the balance sheet, the financial result of the reporting period is not reflected as an independent indicator, but is an integral part of the indicator retained earnings (uncovered loss), calculated for the entire period of the organization’s activities.

To form the financial results of the organization's activities, accounts 90, 91, 99 are used.

Account 90 “Sales” is intended to record income and expenses from ordinary activities.

Account 91 “Other income and expenses” is used to record income and expenses from other operations.

Account 99 “Profits and losses” is used to summarize information on the formation of the final financial result of the organization’s activities in the reporting year.

This result is made up of the following indicators:

Financial result from ordinary activities in correspondence with account 90;

Financial result of other income and expenses in correspondence with account 91;

Accrued conditional income tax (permanent tax assets and liabilities), as well as the amounts of tax penalties due in correspondence with accounts 68 “Calculations for taxes and fees” and 69 “Calculations for social insurance and security”.

The debit of account 99 during the reporting year reflects losses (losses, expenses), and the credit reflects the profits (income) of the organization. A comparison of the debit and credit turnover of account 99 for the reporting period shows the final financial result of the reporting period.

At the end of the reporting year, when preparing annual financial statements, account 99 is closed. With the final entry in December, the amount of net profit (loss) of the reporting year is written off from account 99 to account 84 “Retained earnings (uncovered loss).”

The construction of analytical accounting for account 99 should ensure the generation of data necessary for drawing up a profit and loss statement.

Here is a diagram of counting 99.

Account 99 “Profits and losses”

Losses from sales (from the credit of subaccount 90-9 “Sales”) Loss from other income and expenses (from the credit of subaccount 91-9 “Balance of other income and expenses”) Conditional income tax expense, permanent tax liability (from the credit of account 68 “Calculations for taxes and fees”) Tax sanctions for violation of current legislation (from the credit of accounts 68 and 69 “Calculations for social insurance and security”) Balance - uncovered losses

Profit from sales (from the debit of subaccount 90-9) Profit from other income and expenses (from the debit of subaccount 91-9) Conditional income for income tax, permanent tax asset (from the debit of account 68) Balance - net profit

Example 1. During the period under review, the organization received a profit from the sale of products in the amount of 30,000 rubles; surplus materials were identified during inventory - 3,500 rubles; payment for bank services amounted to 13,800 rubles; Deposit debt with an expired statute of limitations was written off in the amount of 1,300 rubles.

The following accounting entries will be made.

The financial result of the reporting period is profit before tax equal to 21,000 rubles.

Accounting for deferred income

Income received in the reporting period, but relating to subsequent reporting periods, is reflected in the balance sheet as deferred income. They are written off to financial results at the beginning of the reporting period to which they relate.

To account for income received (accrued) in the reporting period, but relating to future reporting periods, account 98 “Deferred income” is intended. The following subaccounts can be opened to this account.

Subaccount 98-1 “Income received on account of future periods.” Under the subaccount credit, in correspondence with the accounts for cash accounting or settlements with debtors and creditors, rent or apartment payments, utility bills, subscription fees for the use of communications, revenue for the transportation of passengers on monthly and quarterly tickets and other income received in the reporting period are reflected. period, but relating to future periods.

Subaccount 98-2 “Gratuitous receipts”. The subaccount credit reflects the market value of assets received free of charge.

The amounts recorded in this sub-account are written off to the credit of account 91 “Other income and expenses”:

For gratuitously received fixed assets and intangible assets - as depreciation is calculated;

For other material assets received free of charge - as production costs (sales costs) are written off to accounts.

Subaccount 98-3 “Upcoming debt receipts for shortfalls identified in previous years.” The subaccount credit in correspondence with account 94 “Shortages and losses from damage to valuables” reflects the amounts of shortfalls identified for previous reporting periods (before the reporting year), found guilty by persons, or amounts awarded for collection by the court. At the same time, account 94 is credited for these amounts in correspondence with subaccount 73-2 “Calculations for compensation of material damage.”

As the debt for shortfalls is repaid, subaccount 73-2 is credited in correspondence with the cash accounts while simultaneously reflecting the received amounts on the credit of account 91 (profits of previous years identified in the reporting year) and the debit of subaccount 98-3.

Subaccount 98-4 “The difference between the amount to be recovered from the guilty parties and the cost of shortages of valuables.” For the loan, the subaccounts in correspondence with subaccount 73-2 reflect the difference between the amount collected from the guilty parties for missing material and other assets and the value listed in the organization’s accounting records. As the debt is repaid, the corresponding differences are written off from subaccount 98-4 to the credit of account 91.

Typical entries for accounting for financial results are given in table. 1.

Table 1. Correspondence of accounts for accounting of financial results

5. Deferred income is written off against the income of the reporting period
6. The amounts of shortfalls for previous years were identified in the reporting year: - simultaneously as the debt is repaid - simultaneously
7. The difference between the amount recovered from the guilty person for shortage or damage to property and its book value as the debt is repaid is reflected: - at the same time
8. The amount of profit from other income and expenses identified at the end of the reporting month is credited monthly to the profit and loss account
9. The amount of losses from other income and expenses identified at the end of the reporting month is credited monthly to the profit and loss account
10. Sub-accounts for accounting for general income and expenses were closed with final entries at the end of the reporting year: - turnover for accounting for other income was written off - turnover for accounting for other expenses was written off
11. A permanent tax liability has been accrued
12. A permanent tax asset has been accrued
13. A conditional income tax expense and tax sanctions for violation of current legislation have been accrued.
14. Conditional income tax accrued
15. Account 99 “Profits and losses” was closed with final entries at the end of the reporting year in the amount of: - net profit - loss

Used literature: Bochkareva I. I., Levina G. G.
Financial accounting: textbook / I. I. Bochkareva, G. G. Levina;
edited by prof. Y. V. Sokolova. - M.: Master, 2010. - 413 p.

The most important results of the financial and economic activities of any enterprise, which characterize the efficiency of its work, are considered to be the amount of income and expenses. They also form the financial result, which can be either positive or negative depending on how effectively the enterprise worked. Audit, inventory and accounting of financial results allow the organization to control current work and plan future activities.

What is the financial result of an enterprise

Based on a comparison of debit and credit turnover for a particular reporting period, it is possible to determine the financial result of the company’s activities - net profit or loss. In a simple sense, a financial result is the results of an enterprise’s work for a particular period. In order to understand how effectively an organization functions, profit and loss accounting is carried out. The financial result is determined for the organization as a whole, and the accounting includes a number of data:

• sales of manufactured products, works or services;
• operating activities;
• non-operating operations.

This also takes into account accrued taxes, fees, and fines that were paid from profits.

Regulatory framework

Today in the Russian Federation there is a large list of standards, regulations, which in one way or another affect the accounting activities themselves, accounting and analysis of financial results. Firstly, this is the Tax Code of the Russian Federation, where special attention is paid to taxable profit and the federal law “On Accounting”. In addition, there are a number of other documents:

• PBU “Organization expenses” (No. 10/99);
• PBU “Income of the organization” (No. 9/99);
• Account correspondence;
• PBU “Accounting statements of an enterprise” (No. 4/99);
• Charts of accounts;
• PBU “Accounting Policy of the Organization” (No. 1/2008);
• International Financial Reporting Standards;
• PBU “Information by segments” (No. 12/2010), etc.

Profit in accounting – concept and its types

Accounting profit is the difference between an organization's income and expenses. It can be positive or zero. In the first case, there is an excess of income over expenses. In the second case, that indicator is zero. It is important to note that there cannot be a negative accounting profit, since this would already be considered a loss.

Profit has two functions:

• Estimated. It determines the efficiency of the company, which includes labor productivity, quality of material and production resources.
• Stimulating. Shows employee satisfaction with their work, whether dividends are paid, whether charity is carried out.

Financial performance accounting considers five types of revenue:

• gross profit;

• arising as a result of sales;
• before tax is calculated;
• from normal activities;
• net profit.

From the main activity

Profit from the core activities of an enterprise is the benefit from the sale of goods (products), works or services. This is a financial result that is determined separately for each type of company activity. It is equal to the difference from the sale of goods and the costs of its production. Profit is the organization’s revenue minus VAT, excise taxes, markups, the cost of the product itself and export tariffs, if any.

Other types of profit

If profit cannot be attributed to the main activity of the enterprise, then it is classified as so-called other types:

• income received from renting out property;
• benefits from securities or other investments;
• proceeds from the sale of own assets;
• gratuitous economic benefits;
• prescribed fines, penalties, penalties, compensation for losses;
• positive exchange rate differences;
• writing off accounts payable after the expiration of the statute of limitations;
• inventory surplus.

What does a company's income include?

If you do not take into account charity, then all the activities of the enterprise are aimed at generating income. In accounting, this concept implies all means that affect the growth of assets with the exception of material support for the founders. As a rule, these are funds that were received as a result of the transfer of goods or services by their customers. The following are not considered income:

• makings;
• advances;
• VAT amounts received from counterparties;
• funds used to repay previously received borrowings;
• money received under commission or agency agreements in favor of third parties;
• pledges that pass into the possession of the pledgee under the terms of the agreements.

Operating

In the classification of income, operating income is considered to be income, the receipt of which is not related to the implementation of the main type of activity. They are reflected in the credit of subaccount 91/1. These include income received from renting out property, if this is not the profile of the organization. In addition, this includes benefits received from the paid transfer of patents and industrial designs. The enterprise's participation in the capital of third-party companies, the sale of fixed assets, interest on loans issued - all this is operating income.

Non-operating

Non-operating income, as the name suggests, has a different origin. These include profits earned from exchange rate differences, assets received by the organization free of charge, and profits from previous years that were identified only in the current period. This includes all kinds of payments in the form of fines and penalties for non-fulfillment of concluded contracts.

Accounting for enterprise expenses

Any organization in the course of its activities has certain expenses that may be associated, for example, with the payment of employees, the purchase of materials for production. If you look at Accounting Regulation 10/99, you can see that the expenses of an enterprise are generally considered to be a decrease in economic benefits due to the disposal of cash and other assets. In addition, this includes obligations that have arisen that led to a decrease in the company’s capital, unless this was caused by a decision of the participants.

When accounting for financial results, it is necessary to adhere to the main principle, which is that all expenses are recognized in the reporting period when they were used for the benefit of the organization. All prepaid expenses and those that were recognized but not paid are recorded in accounts payable. If expenses are tied to a specific period, such as wages or rent, they are taken into account directly in the reporting month, although their payment may occur at another time.

What costs can be included in the cost of production?

If we talk about the full cost of products, works or services, then this includes all costs directly related to the technological and organizational features of production and of a non-capital nature. This includes innovation, environmental protection, providing workers with proper working conditions, and production management. Costs incurred as a result of personnel training and social contributions are also included in the cost of production.

In addition, the cost calculation should include:

• losses resulting from production downtime;
• costs associated with warranty repairs or maintenance;
• payments due to employees in case of staff reduction.

Reflection of profit in accounting - postings

Profit according to the accounting data of financial results is recalculated from the accrual method to the cash method by adjustment. To reflect profit in accounting, account 99 is used, with debits reflecting profits and credits reflecting losses. Analytical accounts include:

• 99.1 - profits and losses;
• 99.2 - income tax;
• 99.3 - extraordinary income (expenses);
• 99.6 - tax sanctions;
• 99.9 - other losses and profits.

If necessary, enterprises have the right to independently create additional sub-accounts of the third and fourth levels due to the specifics of their activities. At the end of the reporting year, account 99 is closed at 84, which reflects retained earnings (uncovered loss). Moreover, there should be no funds left for 99.

Accounting for financial results from ordinary activities of an enterprise

The financial result in accounting is reflected in the following accounts:

• 90 "Sales". Used to record income and expenses from main activities.
• 91 “Other income and expenses.” Used to take into account income and expenses arising from other operations.
• 99 "Profits and losses." It is used to summarize data on the formation of the final financial and economic result of the enterprise’s activities in the reporting year.

Particular attention should be paid to account 90, since at the end of the reporting month, according to debit and credit, you can use it to find out the total obtained from sales, because this indicator is extremely important for the effective operation of the organization. Typical wiring for it looks like this:

How are other results reflected in accounting?

Accounting for financial results relating to other expenses and income from financial and investment activities (except for emergency ones) and which are not related to the main production are reflected on account 91:

• subaccount 91.01 - income from rent, transfer of rights to intellectual property, purchase of shares in the authorized capital of other organizations;
• subaccount 91.02 - expenses for interest on loans, maintenance of fixed assets for conservation, fines, penalties.

Main entries for income:

To record financial results for expenses, you can use the following entries:

Accounting for extraordinary income and expenses

To reflect surpluses or losses of fixed assets or inventories that arose as a result of fires, accidents, nationalization, etc., account 99 is used.

You can use the following wiring:

		Description
		The cost of the fixed asset is reflected as part of extraordinary expenses
		Losses of equipment for installation
		Losses of investments in non-current assets
		The cost of materials is included in extraordinary expenses
		Excess materials identified

If losses or surpluses were discovered in the cash register or in the current account due to emergency situations, the following entries can be used:

How to calculate the financial result for the reporting period

If for a certain period for which the total is summed up, the amount of revenue and all income is greater than expenses, we can talk about a positive financial result. Otherwise it is considered negative. It should be understood that the definition of financial results in accounting, tax and management accounting has its own characteristics, so their indicators always differ. Analytical and synthetic accounting of financial results in accounting is carried out using special accounts 90, 91, 99.

In its structure, the financial result consists of:

• results obtained from the main activities of the organization;
• results calculated from other activities;
• emergency receipts and waste;
• accrued income tax.

Income tax - procedure for calculation and reflection in accounts

If an organization does not apply PBU 18/02 in its work to calculate income tax, all expenses and income in accounting for financial results are divided into accounted and non-accounted. To check the correctness of income tax calculation, you only need to check the tax accounting registers. To calculate the tax, Dt 99 Kt 68.04.1 is used, and is immediately attributed to the subaccount for accounting settlements with the budget.

When using PBU 18/02, things are different. In order to generate the amount of income tax in accounting, a posting involving subaccount 68.04.2 is used. Ultimately, in subaccount 68.04.2, when tax is calculated, the amount reflected in the declaration is formed. Afterwards, the total amount of subaccount 68.04.2 is closed in full to subaccount 68.04.1, where the tax is distributed among budgets. It also takes into account further settlements with the budget based on the amount accrued for payment.

Accounting for retained earnings and its use

During the normal functioning of the company, after paying all taxes and other expenses, free money remains - the so-called retained earnings. Accounting for financial results is carried out by transferring the balance from account 99 with the last entry for the year to account 84. The profit will be reflected by the entry Dt 99 Kt 84, and the loss - Dt 84 Kt 99. The owners decide how to manage these funds in the next reporting period.

Replenishment of reserve capital

The created reserve capital in the company is used to compensate for losses when conducting production and financial activities. If there is a lack of profit for the reporting period, funds from the fund are used to pay investors and cover accounts payable. The formation of reserve capital by postings has the following form:

Repayment of losses from previous years

This year, it is necessary, according to all the rules, to take into account the financial results of existing losses and profits for previous years. All of them are accumulated in accounting account 99, and at the end of the financial year they are closed in the following accounts:

• 82 – reserve capital;
• 84 – additional capital;
• 84 – retained earnings.

If the company does not have sufficient income during this reporting period, then existing losses are transferred from account 99 to account 97 - Deferred expenses.

Payment of dividends to founders

Part of the organization's profit, which is accounted for in account 84, can be directed for distribution among participants, founders and other shareholders, and is defined as dividends. To account for calculations related to their payment, account 75.02 is used, but only if the founders are not full-time employees of the enterprise. Otherwise, count 70 is used.

Reflection of losses in accounting

Under certain circumstances, an organization may incur losses from its financial and economic activities. All of them are accounted for as a debit to account 99, corresponding to accounts 90 and 91. In some cases, losses can be attributed to account 97 as deferred expenses, but such posting is not always used. Covering losses can be accomplished in several ways:

If a reserve for doubtful debts has not been created, accounts receivable are written off as non-operating expenses. When creating an assessment reserve - Db 63 Kt 60, 62, 70, 71, 73, 76. Without creating an assessment reserve - Db 91.2 Kt 60, 62, 70, 71, 73, 76. Other non-operating expenses and losses are written off at the time of their occurrence from the debit or credit of the corresponding accounts to account 91.

Form 2 “Report on financial results”

Documentation of the accounting of financial results is reflected in the financial statements. The executive bodies of the company present to the owners a report on the company's profits and losses based on the results of production and economic activities. It is reflected in the legally established form of financial statements No. 2 and is submitted along with the balance sheet. It is compiled cumulatively and contains information for the entire reporting period, starting from January 1 and ending on December 31. The report reflects:

• income and expenses received as a result of the main activities of the organization;
• non-operating, operating, extraordinary income and expenses;
• the amount of income before taxation;
• net profit.

Analysis of the financial results of the enterprise

Accounting for financial results is required for making management decisions in order to increase the profitability of the company. It includes horizontal, vertical and trend analysis of indicators, plus determination of the reasons and circumstances of changes in profit indicators and their quantitative assessment. Financial analysis includes analysis of the physical indicators of production and consideration of the organization's cash flows, which are based on its value. Only a combination of these two components can give a real assessment of the state of the organization.

Analytical methods

Each company chooses those analysis methods that more fully correspond to the specifics of the work and the industry in which the company operates. Among the common methods it is worth highlighting the following:

• comparative. It involves comparing the same values ​​over equal periods of time, revealing the difference between them, up or down.
• structural. The structure of the final financial indicators is being determined. It turns out how much each of them influences the outcome of economic activity.
• factorial. The influence of each factor on the economic result of the organization’s activities is determined.

Profitability of sales and production of products

Profitability is considered to be such a use of funds, as a result of which the company not only covers the amount of costs, but also makes a profit. The efficiency of an enterprise directly affects the level of profitability. Profitability is highlighted:

• Assets. Reflects the profit received by organizations for each ruble spent and is calculated using the formula:

(Profit / Average annual assets) x 100%;

• Fixed production assets. Shows the profitability that was obtained from the use of fixed assets. Its formula is:

(Profit / Average annual cost of fixed assets) x 100%;

• sales Informs about the part of profit related to revenue. Calculated in the following way:

(Profit / Revenue) x 100%.

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