Hello student. The main provisions of accounting and analysis of the financial results of the enterprise Accounting for the financial results of the enterprise

The activity of any enterprise is aimed at the result, but it is not always positive. It is thanks to accounting that the calculation of income received and expenses incurred is carried out. The difference between these two concepts in accounting is called the financial result. Consider the postings generated when determining the financial result.

Calculation of totals or formation of final financial results

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

The final financial result of the enterprise's activities 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 losses” is used. This account allows you to accumulate revenue and expenditure parts 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 on the debit, and the amount of profit received on the credit.

Calculation of the financial result is carried out on a monthly basis, however, the “knocking up” of the final performance indicators is carried out based on the results of the past year.

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If, according to the results of the past year, the enterprise works with a profit, then the heads of the organization have the right to use it in several directions:

1. To meet the needs of the organization (purchase of non-current assets);
2. Payment of dividends;
3. Covering losses incurred in previous periods of activity.

The procedure for calculating income tax

The final indicator of the financial result is affected 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 income tax is reflected in accounting in two stages:

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

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 = Income Tax Rate Percentage * Accounting profit shown on line 2300 of the income statement.

The amount of accounting profit tax received 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 by 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	Account Kt	Posting 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 type of 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 received 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	The accrual of income tax for its subsequent payment to the budget is displayed	Accountant's certificate
99	84	86 900	Net profit received for the year of the enterprise's activity	Accountant's certificate
84	99	52 000	Reflected the amount of loss received for the year of the enterprise	Accountant's certificate

The financial result is the result of the economic activity of the organization and its divisions, expressed in the form of financial indicators, such as profit (loss), change in the cost of equity, receivables and payables, income.

When conducting accounting, information on the income and expenses of the organization, as well as the final financial result of its activities for the reporting period, are reflected in the accounts provided for this by the Chart of Accounts and Instructions for its application.

To summarize information on the income and expenses of the organization, as well as to identify the final financial result of the activity 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 "Deferred expenses";
• - 98 "Deferred income";
• - 99 "Profit and loss".

Account 90 "Sales" is used to summarize information on income and expenses associated with the ordinary activities of the organization, as well as 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 assembly);
• - 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 proceeds 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. are debited 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. In the debit of account 90, the actual cost of production is debited from the credit of product accounting accounts.

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

In organizations engaged in retail trade and keeping records of goods at sale prices, the credit of account 90 reflects the sale value of the goods sold (in correspondence with accounts for cash and settlements), and in debit - their accounting value (in correspondence with account 41 "Goods ") with the simultaneous reversal of the amounts of discounts (markups) relating 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 "Excises";
• - 90/9 "Profit/loss on sales".

Organizations - payers of export duties can open a sub-account 90/5 "Export duties" to account 90 to record their amounts.

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

Entries on sub-accounts 90/1 - 90/4 are made accumulatively during the reporting year. On a monthly basis, by comparing the total debit turnover on subaccounts 90/2 - 90/4 and the credit turnover on subaccount 90/1, the financial result (profit or loss) from sales for the reporting month is determined.

This financial result is monthly (final turnovers) written off from sub-account 90/9 to account 99 "Profits and losses". Thus, synthetic account 90 does not have a balance on the reporting date.

At the end of the reporting year, all sub-accounts opened for account 90 (except for sub-account 90/9) are closed by internal entries to sub-account 90/9.

Analytical accounting on 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 funds that the organization has received or should receive from buyers (customers) for the goods sold to them (products, work performed, services rendered). The amount of revenue is reflected on sub-account 90/1 if it is received from the ordinary activities of the organization, i.e. from the sale of products and goods, the performance of works or the 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 the organization are specified in its charter (in the section "Types of activity"). However, often in this section of the charter it is written 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 them regularly and their amount exceeds 5% of the total revenue for the reporting period.

When accounting for revenue from ordinary activities, the following entry should be made:

Dt 62 Kt 90/1 - the amount of proceeds from the sale of goods (products, work, services) is recognized.

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

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 the work performed (services rendered).

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

Dt 90/2 Kt 41 (43, 45, 20) - the cost of goods sold (products, work performed, services rendered) was 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 taken into account on the credit of subaccount 90/1.

In the contract of sale, it is possible to provide that the ownership right does not pass to the buyer 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, revenue should be recognized only after the receipt of money from the buyer. And the goods transferred to the buyer under such an agreement, until the moment of their payment, are accounted for on account 45 "Goods shipped". In this case, the following posting is made in accounting:

Dt 45 Kt 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 credit of this account during the reporting period reflects:

• - receipts related to the provision for a fee for temporary use (temporary possession and use) of the organization's assets - in correspondence with the accounts of settlements or cash;
• - receipts related to the granting for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property - in correspondence with the 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 "Settlements on due dividends and other income");
• - receipts related to the sale and other write-off of fixed assets and other assets other than cash in the Russian currency, products, goods - in correspondence with the accounts of settlements or cash;
• - proceeds from operations with packaging - in correspondence with the accounts of accounting for containers and settlements;
• - interest received (receivable) for the provision of the organization's funds for use, as well as for the use by the credit organization of the funds on the organization's account - in correspondence with the accounts of financial investments or funds;
• - fines, penalties, forfeits for violation of the terms of contracts received or recognized to be received - in correspondence with the accounts of settlements or cash;
• - receipts related to the gratuitous receipt of assets - in correspondence with the account for accounting for deferred income;
• - receipts in compensation for losses caused to the organization - in correspondence with the accounts of settlements;
• - profit of previous years, revealed in the reporting year, - in correspondence with the accounts of settlements;
• - amounts of accounts payable for which the limitation period has expired - in correspondence with accounts payable;
• - 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 accounting accounts;
• - the residual value of assets for which depreciation is charged, and the actual cost of other assets written off by the organization, in correspondence with the accounts of the corresponding 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 accounting accounts;
• - expenses on operations with containers - in correspondence with cost accounting accounts;
• - interest paid by the organization for providing it with the use of funds (credits, loans), - in correspondence with the accounts of settlements or cash;
• - expenses related to payment for services rendered by credit institutions - in correspondence with settlement accounts;
• - fines, penalties, forfeits for violation of the terms of contracts, paid or recognized for payment, - in correspondence with the accounts of settlements or cash;
• - expenses for the maintenance of production facilities and facilities under conservation - in correspondence with the cost accounting accounts;
• - compensation for losses caused by the organization - in correspondence with the accounts of settlements;
• - losses of previous years recognized in the reporting year - in correspondence with accounts for accounting for settlements, depreciation charges, etc.;
• - deductions to reserves for the depreciation of investments in securities, for the depreciation of material assets, for doubtful debts - in correspondence with the accounts of these reserves;
• - amounts of receivables for which the limitation period has expired, other debts that are unrealistic to collect - in correspondence with accounts receivable;
• - exchange rate differences - in correspondence with cash accounts, financial investments, settlements, etc.;
• - expenses associated with the consideration of cases in courts - in correspondence with the 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 on sub-accounts 91/1 and 91/2 are made accumulatively during the reporting year. On a monthly basis, by comparing the debit turnover on subaccount 91/2 and the credit turnover on subaccount 91/1, the balance of other income and expenses for the reporting month is determined.

This balance is monthly (final turnovers) written off from sub-account 91/9 to account 99 "Profits and losses". Thus, as of the reporting date, synthetic account 91 has no balance.

At the end of the reporting year, all sub-accounts opened to account 91 (except for sub-account 91/9) are closed by internal entries to sub-account 91/9.

Analytical accounting on account 91 is kept 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 make it possible to identify the financial result for each transaction.

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 valuables (including cash) identified in the process of their preparation, storage and sale, regardless of whether they are subject to attribution to accounts accounting for production costs (sales expenses) or responsible persons. Losses of valuables resulting from natural disasters are charged to 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 value 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 on the debit of account 94 from the credit of the accounts for recording the named values.

When the buyer, upon acceptance of the valuables received from the suppliers, reveals a shortage or damage, then the amount of the shortage, within the limits provided for in the contract, he refers to the debit of account 94 from the credit of account 60 "Settlements with suppliers and contractors" when posting the valuables. The buyer presents the amount of losses in excess of the amounts provided for in the contract to the supplier or transport organization and takes into account the debit of account 76 (sub-account "Calculations on claims") and the credit of account 60.

If the court refuses to recover the amounts of losses from suppliers or transport organizations, the amount previously debited to account 76 (sub-account "Calculations on claims") is debited to account 94.

If the court has decided to recover from the supplier the amounts of shortages and losses of valuables in excess of the amounts provided for in the contract, in the accounting records of the supplier the sale amount previously reflected in the debit of accounts 62 "Settlements with buyers and customers" or 51 "Settlement accounts", 52 "Currency accounts " and the credit of account 90 "Sales" are reversed for the amount of shortages and losses recovered by the buyer.

At the same time, the indicated amount is reflected in the usual entry on 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 recovered in this way on account 43 is then written off to the debit of account 94.

The credit of account 94 reflects the write-off:

• - shortages and damage to valuables within the limits provided for in the contract - to the accounting records 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);
• - shortages 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");
• - shortages of valuables in excess of the values ​​​​(norms) of loss and losses from damage to valuables in the absence of specific perpetrators, as well as shortages of inventory items, the collection of which was refused by the court due to the groundlessness of claims - to account 91.

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

When recovering the cost of missing valuables from the guilty persons, 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 due amount is recovered from the guilty person, the indicated difference is written off to the debit of account 98 and the credit of account 91.

Shortfalls in valuables identified in the reporting year, but related to previous reporting periods, recognized as 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 to these amounts (sub-account "Calculations for compensation for 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 on the status and movement of amounts reserved in order to evenly include expenses in production costs and sales expenses. In particular, the following amounts may be reflected on this account:

• - forthcoming vacation pay (including payments for social insurance and security) to employees of the organization;
• - for the payment of annual remuneration for the length of service;
• - production costs for preparatory work due to the seasonal nature of production;
• - for the repair of fixed assets;
• - forthcoming costs for land reclamation and implementation of other environmental measures;
• - for warranty repairs and warranty service.

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

The actual expenses for which the reserve was previously formed are charged to the debit of account 96 in correspondence, in particular, with the accounts:

• - 70 "Settlements with personnel for remuneration" - for the amount of remuneration to employees during the holidays and annual remuneration for length of service;
• - 23 "Auxiliary production" - for the cost of repair of fixed assets, produced by the subdivision 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 on account 96 is carried out for individual reserves.

Account 97 "Deferred expenses" is used to summarize information on expenses incurred in this, but related to future reporting periods. In particular, this account may reflect the costs associated with mining and preparation work, pre-production work due to their seasonal nature, the development of new industries, installations and units, land reclamation and the implementation of other environmental measures that are unevenly performed during years of repair of fixed assets (when the organization does not create an appropriate reserve or fund), etc.

The 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 expenses", 44 "Sale expenses", etc.

Analytical accounting on account 97 is carried out by types of expenses.

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 debt receipts for shortages identified in the reporting period for previous years, and the difference between the amount due recovery from the perpetrators, and the cost of valuables accepted for accounting when shortages and damage are identified.

Sub-accounts can be opened for account 98:

• - 98/1 "Income received on account of future periods";
• - 98/2 "Gratuitous receipts";
• - 98/3 "Upcoming receipts of debts for shortages identified in previous years";
• - 98/4 "The difference between the amount to be recovered from the perpetrators and the balance sheet value for shortages of valuables", etc.

Sub-account 98/1 takes into account income received in the reporting period, but related to future reporting periods: rent or apartment fees, utility bills, revenue from freight transportation, passenger transportation on monthly and quarterly tickets, subscription fees for using communication facilities and etc.

On the credit of account 98, in correspondence with the accounts of accounting for cash or settlements with debtors and creditors, they reflect the amounts of income relating to future reporting periods, and on the debit - 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 made up of the financial result of ordinary activities, as well as other income and expenses. The debit of account 99 reflects losses (losses, expenses), and the credit shows the profit (income) of the organization. Comparison of debit and credit turnover for the reporting period shows the final financial result of the reporting period. On account 99 during the reporting year reflect:

• - profit or loss from ordinary activities - in correspondence with account 90 "Sales";
• - 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 recalculations of this tax from actual profit, as well as the amount of tax sanctions due - in correspondence with account 68 "Calculations for taxes and fees".

At the end of the reporting year, when compiling the annual financial statements, account 99 is closed. 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 provide the formation of the data necessary for compiling a profit and loss statement

Accounting for financial results is a very important process, because it is from correctly completed accounting forms that the owners of the company and its managers receive the data they need to make important economic decisions in the future. Profit is taxed, which is a significant source of formation of the state budget. Finally, it is the basis on which investments can be made in the further development of the enterprise.

If incorrect entries are made in accounting or profit is calculated incorrectly, then this may threaten the company with certain sanctions from the supervisory authorities. In addition, such a distortion of information can lead to the fact that significant management decisions will be made incorrectly.

How are financial performance determined?

The financial result is the delta between the income and expenses of the company in the reporting period. If in the process of this calculation a positive value is obtained, then this means that the organization has received a profit that it can use at its discretion, including to increase equity. If the value is negative, then the company has suffered losses.

This calculation is very important for assessing the effectiveness of the functioning of the organization as a whole. A decrease in profit or its negative value is an alarming signal that something is going wrong. The firm may need to:

• 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 stimulate a commercial organization to expand its activities. The funds can be used for investment 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 the owners of securities. This is the basis for updating production assets and further improving products, which over time can become morally obsolete.

Profit can be divided into two types:

• accounting;
• Economic.

The first concept has been used in our country since 1999. This is the 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 the enterprise. It has a fundamentally different meaning. For example, if a company spent 100 thousand rubles on the development of a new product line and received revenue of 110 thousand rubles during the month, then its monthly accounting profit is 10 thousand rubles. On the other hand, simply by investing this amount in a bank, the company could receive 12,000 rubles from the top. This means that its economic profit is negative, because the firm did not use the most profitable of all possible alternatives for using funds.

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

What are the profit functions 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 is 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 a 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 fill the state budget (profit 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, it gives its managerial staff to 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 him that the right management decisions can be made that will lead the company to prosperity.

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

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

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

The second part of the profit is the 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 receive a profit from the sale of its goods, then its total financial result will be equal to the rest. If the profit from the main activity was received, then you need to add it to other income and subtract other expenses from this amount.

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

• Chapter 25 of the Tax Code of the Russian Federation "Corporate Income Tax";
• PBU "Expenses of the organization" (No. 10/99);
• PBU "Income of the organization" (No. 9/99);
• PBU "Accounting statements of the enterprise" (No. 4/99).

These documents introduce the following definitions:

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

What criteria should an organization's spending meet?

According to the current legislation, expenses have the following characteristics:

• The basis for payment is an agreement, legal requirements or business practices;
• Disposal has a monetary value;
• An enterprise can be absolutely sure that this or that 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 a receivable.

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

There are situations in which the disposal of assets cannot be treated as an expense to the company. These are the cases when:

• The money was used to purchase fixed assets or intangible assets;
• A preliminary payment was 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 loan or loan it previously received;
• The firm makes payments resulting from a commission agreement or agency agreement.

Depreciation is also posted in the financial statements as an expense. The specific amount for each period is calculated based on the value of fixed assets (or intangible assets), their expected life, as well as the accounting policy that determines the method of calculating depreciation.

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

• For the main activity - these are all the costs that accompany the production and sale of products, as well as depreciation;
• Others are those costs that are associated with the lease of property and participation in the activities of other companies, interest on loans and borrowings, fines and penalties for violation of 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 business 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 the company's income can be conditionally divided into two large groups: proceeds from the main activity (revenue) and other income. The first in the financial statements are reflected in account 90 - "Sales". The latter are further divided into three categories:

• Operating - associated with the lease of 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 activity is considered the main one;
• Non-operating assets are assets donated to the organization or transferred to it free of charge, receipts to compensate for previously caused losses, fines and penalties received, exchange differences, profits of previous years revealed in the current period, etc.;
• Extraordinary - these are those receipts that arise as a result of the onset of extraordinary circumstances, for example, insurance claims.

According to the 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 desk (or came there);
• Accrual method - income and expenses are recorded in the period in which they were actually recognized by the organization, i.e. when they were charged by her.

Increasing the size of 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 an organization's revenue?

Revenue is the amount of money that the company has received (or should 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 this case it has not a monetary, but a property format.

According to current legislation 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 the organization to receive funds in a certain amount is specified in the text of the contract with the counterparty, follows from some unwritten, but generally recognized norms, or has another fairly good reason;
2. Receipts may have a specific monetary value;
3. The organization has full confidence that this economic transaction will increase its benefits, i.e. there must be no uncertainty about 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. Economic transactions are accompanied by certain costs, which can be determined in terms of money.

If with respect to any receipts 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 is not observed, 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 vivid example of this is commission trading, when the seller receives a large amount, but retains only a small part of it, and transfers the rest to the commission agent.

Revenue can be determined by the moment of readiness of the goods (work, services), if it is possible to clearly determine this moment. Especially often it is used by organizations with a long cycle.

Most often, revenue is recognized in the reporting of an enterprise on an accrual basis, i.e. regardless of the moment of actual receipt of funds to the current account or to the cashier. However, small businesses have the right to use the cash method, when the link is made exactly at the time the money actually arrives.

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

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

According to the provisions of PBU No. 9/99, in the same period, an enterprise can use different methods of 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 from financial and economic activities over a certain period of time. The relevant data is collected on account 99 “Profit and Loss”. Its debit reflects a loss, its credit shows a profit.

All business transactions are reflected in 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 the main 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 those and others at the end of the month (year, quarter) are debited to account 99.

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

The algorithm of the accountant's actions in determining the financial results is as follows:

• First, he calculates the amount of revenue. This can be done in two ways: with or without VAT. I must say 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);
• On the basis of invoices writes off the cost of shipped products. This can be done, for example, by such postings: 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 has incurred in the current period is determined.

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

If by the end of a quarter or year a company has suffered losses, this means that it is spending its resources uneconomically, and the management decisions made by its management are incorrect. It is necessary to look for a way out of the current situation: change the managerial staff, 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 effectiveness of the company.

What is a Profit and Loss Statement?

To analyze the financial results of the organization's activities, there is a "Profit and Loss Statement". This is a mandatory form of financial statements, 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 highlights 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. These are revenues and expenses associated with the production and sale of products (or the provision of services);
• Other income and expenses - receipts and payments not related to the main activity (operating, non-operating and extraordinary);
• Profit before tax – sales profit adjusted for other income and expenses;
• The amount of net profit - that 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 size of equity capital, investing in the development of production and paying dividends.

The information presented in Form 2 makes it possible to assess the change in the company's income and expenses, their dynamics in relation to previous periods, to understand how gross and net profit is formed and what factors influence them.

Based on the analysis of the form, conclusions can be drawn about:

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

Ultimately, the report data, presented in the form of a table, allows interested users to conclude to what extent the organization's activities are effective and whether certain investments in its assets were appropriate.

How is the 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 balanced economic decisions. Analysis can help them with this.

Financial analysis is the process of studying the financial results and the state of the 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:

• Choice of coefficients;

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

It is necessary to calculate the values ​​of the selected coefficients for a certain date (this will require the values ​​of expenses, profits and revenues), as well as prepare a base for comparison, having learned the recommended or average industry indicators for a certain period.

• Express analysis;

This is a quick and visual assessment of the company's financial position. It involves three stages: preparatory, study of 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 the trends in the main indicators and the reasons for such changes. Based on the study, an analytical conclusion is made with varying degrees of detail.

• Establishing diagnosis";

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

• Development of financial solutions.

Based on the diagnostics carried out and the problems identified, the responsible persons of the company should develop management solutions that allow them to deal with existing shortcomings, increase financial stability and profitability.

Competent reflection of the financial results of the company 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 is an increase or decrease in the value of the organization's own capital, formed in the course of its entrepreneurial activities for the reporting period. In accounting, it is determined by the indicator of profit or loss.

In accordance with the Regulations on Accounting and Accounting in the Russian Federation, “accounting profit (loss) is the final financial result (profit or loss) identified for the reporting period based on the accounting of all business operations 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 (works, services) (minus VAT, excises and other obligatory payments) and the cost of goods sold, products (works, services);

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

Profit (loss) before tax, defined as the sum 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 taxation and tax and other obligatory 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 retained earnings (uncovered loss) indicator calculated for the entire period of the organization's activity.

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

Account 90 "Sales" is designed 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 "Profit and Loss" 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 an account of 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 sanctions due in correspondence with accounts 68 “Calculations on taxes and fees” and 69 “Calculations on social insurance and security”.

The debit of account 99 during the reporting year reflects losses (losses, expenses), the credit - profits (income) of the organization. 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 compiling the annual financial statements, account 99 is closed. 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 provide the formation of the data necessary for compiling a profit and loss statement.

Here is the scheme of counting 99.

Account 99 "Profit and loss"

Losses from sales (from the credit of sub-account 90-9 "Sales") Loss from other income and expenses (from the credit of sub-account 91-9 “Balance of other income and expenses”) Conditional income tax expense, permanent tax liability (from the credit of account 68 “Calculations on taxes and fees”) Tax sanctions for violation of the 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 sub-account 90-9) Profit from other income and expenses (from the debit of sub-account 91-9) Conditional income from income tax, permanent tax asset (from the debit of account 68) Balance - net profit

Example 1. The organization for the period under review received a profit from the sale of products in the amount of 30,000 rubles; surplus materials were identified during the inventory -3500 rubles; payment for bank services amounted to 13,800 rubles; debit debt with expired limitation period in the amount of 1,300 rubles was written off.

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

Incomes received in the reporting period, but related to the following reporting periods, are 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 related to future reporting periods, account 98 “Deferred income” is intended. The following sub-accounts can be opened for this account.

Sub-account 98-1 "Income received on account of future periods." In the credit of the sub-account, in correspondence with the accounts of accounting for cash or settlements with debtors and creditors, rent or apartment fees, utility bills, subscription fees for using communication facilities, revenue from passenger transportation on monthly and quarterly tickets and other income received in the reporting period are reflected. period, but relating to future periods.

Sub-account 98-2 "Grant-free receipts". The credit of the sub-account reflects the market value of assets received free of charge.

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

For fixed assets and intangible assets received free of charge - as depreciation is accrued;

For other tangible assets received free of charge - as they are debited to the accounts of production costs (sales costs).

Sub-account 98-3 "Upcoming receipts of debts for shortages identified in previous years." On the credit of the sub-account, in correspondence with account 94 “Deficiencies and losses from damage to valuables”, the amounts of shortages identified in previous reporting periods (before the reporting year), recognized by the guilty persons, or amounts awarded for recovery by the court are reflected. At the same time, account 94 is credited for these amounts in correspondence with sub-account 73-2 “Calculations for compensation for material damage”.

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

Sub-account 98-4 "The difference between the amount to be recovered from the perpetrators and the cost of missing valuables." On the credit of the subaccount, in correspondence with subaccount 73-2, they reflect the difference between the amount recovered from the perpetrators for the missing material and other values ​​and the value recorded in the accounting records of the organization. As the debt is repaid, the corresponding differences are written off from sub-account 98-4 to the credit of account 91.

Typical postings for accounting for financial results are given in Table. one.

Table 1. Correspondence of accounts for accounting of financial results

5. Written off deferred income on the income of the reporting period
6. In the reporting year, the amounts of shortfalls for previous years were identified: -simultaneously as the debt is paid off -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 paid off is reflected: - simultaneously
8. On a monthly basis, the amount of profit from other income and expenses, identified at the end of the reporting month, is attributed to the profit and loss account
9. On a monthly basis, the amount of losses from other income and expenses, identified at the end of the reporting month, is charged 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: - turnovers for accounting for other income were written off - turnovers for accounting for other expenses were written off
11. Accrued permanent tax liability
12. Accrued permanent tax asset
13. Accrued contingent income tax expense, tax sanctions for violation of applicable law
14. Accrued conditional income for income tax
15. Account 99 “Profit and Loss” was closed by closing entries at the end of the reporting year in the amount of: - net profit - loss

Literature used: Bochkareva I. I., Levina G. G.
Accounting financial accounting: textbook / I. I. Bochkareva, G. G. Levina;
ed. prof. Ya. V. Sokolova. - M. : Master, 2010. - 413 p.

The most important results of the financial and economic activities of any enterprise, which characterize the effectiveness of its work, are considered to be the amount of income and expenses. They also form the financial result, which can be both positive and negative, depending on how efficiently the enterprise has worked. Audit, inventory and accounting of the financial result allows the organization to control the current work and plan further activities.

What is the financial result of the 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 gain or loss. In a simple sense, the financial result is the results of the enterprise for a particular period. In order to understand how effectively the organization is functioning, accounting for profit and loss is carried out. The financial result is determined for the organization as a whole, and the accounting includes a number of data:

• sale of manufactured products, works or services;
• operating activities;
• non-operating transactions.

This also takes into account accrued taxes, fees, as well as fines that were paid out of profits.

Legal Framework

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

• PBU "Expenses of the organization" (No. 10/99);
• PBU "Income of the organization" (No. 9/99);
• Account correspondence;
• PBU "Accounting statements of the enterprise" (No. 4/99);
• Charts of accounts;
• PBU "Accounting policy of the organization" (No. 1/2008);
• International Financial Reporting Standards;
• PBU "Information on segments" (No. 12/2010), etc.

Profit in accounting - the 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 can be no negative accounting profit, since this will already be considered a loss.

Profit has two functions:

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

Financial results accounting considers five types of revenue:

• gross profit;

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

From core business

Profit from the main activity of the enterprise is the benefit from the sale of goods (products), works or services. This is the financial result, which is determined separately for each type of activity of the company. It is equal to the difference from the sale of goods and the cost of its production. Profit is the organization's revenue minus VAT, excises, 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 referred to the so-called other types:

• income received from the lease of property;
• benefits from securities or other investments;
• proceeds from the sale of own assets;
• gratuitous economic benefits;
• imposed fines, penalties, forfeits, compensation for losses;
• positive exchange 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 includes 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 buyers. Not considered income:

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

Operating

In the classification of income, it is customary to consider income received as operating income, the receipt of which is not related to the implementation of the main activity. They are reflected in the credit of sub-account 91/1. These include income received from the rental of property, if this is not the profile of the organization. In addition, this includes the benefits received from the transfer of patents and industrial designs for compensation. The participation of the enterprise 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 implies, has a different origin. These include profit from exchange rate differences, assets received by the organization on a gratuitous basis, profit of previous years, which was revealed only in the current period. This includes all kinds of payments in the form of fines, penalties for non-fulfillment of concluded agreements.

Accounting for enterprise expenses

Any organization in the course of its activities has certain costs that may be associated, for example, with the remuneration of employees, the purchase of materials for the production of products. If we turn to Accounting Regulation 10/99, we can see that the company's expenses are considered to be a decrease in economic benefits due to the disposal of cash and other assets. In addition, this includes incurred obligations that led to a decrease in the capital of the company, unless this was caused by the 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 have been 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 they may be paid at other times.

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 rationalization, environmental protection, providing workers with proper working conditions, and production management. The costs incurred as a result of personnel training and contributions to the social sphere are also attributed to the cost of production.

In addition, the cost estimate 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 of financial results is recalculated from the accrual method to the cash method by means of adjustments. Account 99 is used to reflect profit in accounting, and profit is reflected on debit, and losses on credit. 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 not be any funds left for 99.

Accounting for financial results from the ordinary activities of the enterprise

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

• 90 "Sales". Used to record income and expenses from core activities.
• 91 "Other income and expenses". Used to account for income and expenses arising from other operations.
• 99 "Profit and Loss". 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 the debit and credit, you can find out the total from sales from it, because this indicator is extremely important for the effective operation of the organization. Typical wiring for it looks like this:

How other results are accounted for

Accounting for financial results relating to other expenses and income from financial and investment activities (with the exception of extraordinary ones) and which are not related to the main production, are reflected in account 91:

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

Basic income postings:

To account for financial results on expenses, you can use the following postings:

Accounting for extraordinary income and expenses

To reflect the surplus or loss of fixed assets or inventory items that arose as a result of fires, accidents, nationalization, etc., account 99 is used.

You can use the following wires:

		Description
		The cost of the fixed assets object is reflected in the extraordinary expenses
		Loss of equipment to install
		Loss of investment in non-current assets
		The cost of materials is included in extraordinary expenses.
		Excess materials found

If losses or surpluses were found in the cash register or on the current account due to emergencies, the following postings 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 the financial result 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:

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

Income tax - the procedure for calculating and reflecting on accounts

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

When using PBU 18/02, things are different. In order to form the amount of income tax in accounting, a posting with the participation of subaccount 68.04.2 is used. Ultimately, on subaccount 68.04.2, when tax is charged for payment, the amount reflected in the declaration is formed. After that, the total amount of subaccount 68.04.2 is completely closed to subaccount 68.04.1, where the tax is distributed among budgets. It also takes into account further calculations with the budget for the amount accrued for payment.

Accounting for retained earnings and its use

In the normal operation of the company, after paying all taxes and other expenses, there is free money left - the so-called retained earnings. Accounting for financial results on it is carried out by transferring the balance from account 99 with the last posting for the year to account 84. The profit will be reflected in the entry Dt 99 Kt 84, and the loss - Dt 84 Kt 99. How to dispose of these funds, the owners decide already in the next reporting period.

Replenishment of reserve capital

The created reserve capital in the company is used to compensate for losses in the conduct of production and financial activities. If there is a shortage of profit for the reporting period, funds from the fund are used to pay investors and cover accounts payable. The formation of reserve capital for postings is as follows:

Repayment of losses of previous years

In the current year, according to all the rules, it is necessary to take into account financial results for existing losses and profits for previous years. All of them are accumulated on account 99, and at the end of the financial year they are closed on 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 the 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 under account 84, can be directed for distribution among participants, founders and other shareholders, is defined as dividends. Account 75.02 is used to account for settlements related to their payment, but only if the founders are not full-time employees of the enterprise. Otherwise, a score of 70 is applied.

Reflection of losses in accounting

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

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

Form 2 "Report on financial results"

Documentation of accounting for financial results is reflected in the financial statements. The executive bodies of the company submit to the owners a report on the profits and losses of the company 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 tax;
• net profit.

Analysis of the financial results of the enterprise

Accounting for financial results is required to make management decisions in order to increase the profitability of the company. It includes horizontal, vertical and trend analysis of indicators, plus determination of the causes and circumstances of changes in profit indicators and their quantitative assessment. Financial analysis includes the 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 methods of analysis that are more fully consistent with 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 ​​for equal periods of time, reveals the difference between them up or down.
• structural. There is a definition of the structure of the final financial indicators. It turns out how each of them affects the outcome of economic activity.
• factorial. The influence of each factor on the economic performance of the organization is determined.

Profitability of sales and production

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 has a profit. The efficiency of the enterprise directly affects the level of profitability. Allocate profitability:

• assets. It reflects the profit received by organizations for each ruble spent, and is calculated by the formula:

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

• Basic production assets. Shows the yield that was obtained when using fixed assets. Its formula is:

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

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

(Profit / Revenue) x 100%.

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