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Accounting for financial results is organized on the basis of PBU 9/99 "Income of the organization" and PBU 10/99 "Expenses of the organization". These provisions are developed in accordance with international standards financial statements.

To summarize information on other income and expenses, account 91 "Other income and expenses" is used. The following sub-accounts can be opened to this account:

91/1 "Other income";

91/2 "Other expenses";

91/9 "Balance of other income and expenses".

On subaccount 91/1 "Other income" take into account receipts of assets recognized as other income.

On subaccount 91/2 "Other expenses" take into account expenses recognized as other expenses.

Subaccount 91/9 "Balance of other income and expenses" is used to identify the balance of other income and expenses for the reporting month.

Entries on subaccounts 91/1 and 91/2 are made cumulatively during the reporting year. By comparing the debit turnover on sub-account 91/1 and credit turnover on sub-account 91/2 on a monthly basis, the balance of other income and expenses is determined. This balance is debited on a monthly basis (by final turnovers) from sub-account 91/9 to account 99 “Profit and loss”. Thus, at the reporting date account 91 "Other income and expenses" has no balance.

At the end of the reporting year, sub-accounts 91/1 and 91/2 are closed by internal entries on sub-account 91/9.

Accounting for income and expenses from the sale of assets (excluding finished goods and goods). Upon disposal of depreciable property due to sale, write-off due to the expiration of the term useful use and for other reasons, upon disposal of materials and other non-depreciable property as a result of sale, write-off due to damage, gratuitous transfer, their value is written off to the debit of account 91. The amount of buyers' debt for the property sold is reflected in the debit of account 62 "Settlements with buyers and customers" and credit of account 91.

Accounting for other income and expenses.

When carrying out transactions on contributions to the authorized capital of other organizations and on contributions of members of a simple partnership to the common property of partners in non-monetary funds, a difference usually arises between the value of the transferred property and the agreed assessment of the contribution. This difference is reflected depending on its value on the credit or debit of account 91 and credit of account 58).

Deductions to allowances (for impairment material values, secured by investments in securities, for doubtful debts) are reflected on the debit of account 91 and credit of accounts 14 “Provisions for depreciation of tangible assets”, 59 “Provisions for impairment of investments in securities” and 63 “Provisions for doubtful debts”. Unused reserves in the period following the period of their creation are written off to the debit of accounts 14, 59 and 63 from the credit of account 91.

When writing off the value of property lost as a result of extraordinary circumstances, the depreciable property is charged to the debit of account 91 by residual value(from the credit of accounts 01 and 04), and the rest of the property - at the actual cost (from the credit of accounts 08, 10, 20, 21, 23, 29, 41, 43, 50, 58, etc.).

In accordance with RAS 9/99 and 10/99, other income and expenses are:

· Income and expenses associated with the provision for a fee for temporary use (temporary possession and use) of the organization's assets;

· Income and expenses associated with the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;

Income and expenses related to participation in the authorized capital of other organizations (including interest and other income from securities);

· Profit received by the organization as a result of joint activities (under a simple partnership agreement);

· Receipts and expenses from the sale of fixed assets and other assets other than cash (except for foreign currency), products, goods;

· Interest received and paid for the provision of funds for use by the organization, as well as interest for the use by the bank of funds that are on the account of the organization with this bank;

· Costs associated with payment for services rendered by credit institutions;

· Fines, penalties, penalties for violation of the terms of contracts;

· Assets received free of charge, including under a gift agreement;

· Receipts in compensation for losses caused to the organization;

· Profit of previous years, revealed in the reporting year;

· Losses of previous years, recognized in the reporting year;

· The amount of accounts payable and accounts receivable, for which the limitation period has expired;

· exchange differences;

· The amount of revaluation and depreciation of assets;

· Other income and expenses.

Other income and expenses are also income and expenses, respectively, arising as a consequence of extraordinary circumstances of economic activity (natural disaster, fire, accident, nationalization of property, etc.): the value of material assets remaining from the write-off of assets that are not suitable for restoration and further use , etc.

Proceeds from the payment of fines, penalties, various penalties and other types of sanctions are reflected in the credit of account 91 "Other income and expenses" and in the debit of accounts for accounting for funds and settlements with debtors.

Analytical accounting for account 91 is maintained 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, business transaction should ensure the ability to identify the financial result for each transaction.

Purpose and structure of account 99 "Profits and losses".

The activity of any enterprise is aimed at a result, but it is 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. Consider the postings generated when determining the financial result.

Calculation of totals or the 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 to assess the situation in a timely manner in order to make adequate management decisions.

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

To calculate financial totals in accounting, account 99 "Profit and loss" is used. This account allows you to accumulate income and expenditure parts in the context of their types of 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 on the debit, and the amount of profit received on the loan.

The calculation of the financial result is carried out on a monthly basis, but the "tamping" 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 operates with a profit, then the heads of the organization have the right to use it in several directions:

1. Replenish 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 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 profit;
2. Adjustment of accounting profit in accordance with tax accounting data.

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

• Accounting income tax = Percentage of income tax rate * The accounting profit displayed in line 2300 of the income statement.

The received amount of tax of accounting profit is adjusted at the end of the year by the amount of the same tax, but in accordance with the data of tax accounting. 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.

Financial Statement Determination: Posting Table

The financial result of the economic activity of the enterprise is determined by the indicator of profit or loss formed during the calendar (economic) year.

The financial result is the difference between the amounts of income and expenses of the company. The excess of income over expenses means an increase in the property of the enterprise - profit, and the excess of expenses over income means a loss. The financial result obtained by the company for the reporting year in the form of profit or loss, respectively, leads to an increase or decrease in the company's equity capital.

The accounting regulations “Income of the organization” (PBU 9/99) and “Expenses of the organization” (PBU 10/99), approved by the Orders of the Ministry of Finance of Russia dated 06.05.1999 No. 32n and No. 33n, respectively (with amendments and additions), recognize an increase in income , and expenses - a decrease in economic benefits as a result of the receipt or disposal of assets, as well as the extinguishment or occurrence of liabilities, leading to corresponding changes in the capital of the enterprise. In these regulations the grouping of income and expenses is given to reflect them in accounting and reporting, their definition and the procedure for recognition in accounting are given.

According to PBU 10/99 (clause 16), expenses are recognized in accounting if the following conditions are met:

The expense is made in accordance with a specific contract, the requirement of legislative and regulatory acts, business customs;

The amount of expense can be determined;

There is confidence that as a result of a particular transaction there will be a decrease in the economic benefits of the organization. There is assurance that a particular transaction will result in a decrease in the economic benefits of the entity when the entity has transferred the asset, or there is no uncertainty about the transfer of the asset.

If in respect of any expenses incurred by the organization, at least one of the above conditions has not been fulfilled, then the accounts receivable are recognized in the accounting of the organization.

Depreciation is recognized as an expense based on the depreciation charge based on the value of the assets being depreciated, useful lives and the way the entity is accrued for depreciation.

Expenses are subject to recognition in accounting, regardless of the intention to receive revenue, operating or other income and from the form of the expense (cash, in-kind and other).

Expenses are recognized in the reporting period in which they occurred, regardless of the time of actual payment of funds and other form of implementation (assumption of temporary certainty of the facts of economic activity).

Expenses are recognized in the income statement:

Taking into account the relationship between the expenses incurred and receipts (correspondence of income and expenses);

By reasonably distributing them between reporting periods, when expenses determine the receipt of income over several reporting periods and when the relationship between income and expenses cannot be clearly determined or is determined indirectly;

For expenses recognized in the reporting period, when it becomes certain that they do not receive economic benefits (income) or receive assets;

Regardless of how they are taken for the purposes of calculating the taxable base;

When liabilities arise that are not contingent upon the recognition of the related assets.

According to PBU 9/99, expenses from ordinary activities are revenue from the sale of products and goods, receipts associated with the performance of work, the provision of services (hereinafter referred to as revenue).

Revenue is recognized in accounting if the following conditions are met (clause 12 of PBU 9/99):

a) the organization has the right to receive this proceeds arising from a specific contract or otherwise confirmed in an appropriate way;

b) the amount of revenue can be determined;

c) there is confidence that as a result of a particular operation, there will be an increase in the economic benefits of the organization. The assurance that as a result of a particular transaction there will be an increase in the economic benefits of the organization exists in the case when the organization received an asset in payment or there is no uncertainty about the receipt of the asset;

d) the right of ownership (possession, use and disposal) to the product (goods) has passed from the organization to the buyer or the work is accepted by the customer (the service is provided);

e) the costs that will be incurred or will be incurred in connection with this operation can be determined.

If in respect of monetary funds and other assets received by the organization in payment, at least one of the above conditions has not been fulfilled, then the accounts payable, and not the proceeds, are recognized in the accounting of the organization.

An organization may recognize in accounting revenue from the performance of work, the provision of services, the sale of products with a long production cycle as soon as the work, service, product is ready or upon completion of the work, the provision of the service, or the manufacture of products in general.

Revenue from the performance of a specific work, the provision of a specific service, the sale of a specific product is recognized in accounting as soon as it is ready, if it is possible to determine the readiness of the work, service, product.

With respect to different in nature and conditions of performance of work, provision of services, manufacture of products, the organization can apply in one reporting period at the same time different ways revenue recognition provided for in clause 13 of PBU 9/99.

If the amount of proceeds from the sale of products, the performance of work, the provision of services cannot be determined, then it is accepted for accounting in the amount of the recognized costs in accounting for the manufacture of these products, the performance of this work, the provision of this service, which will subsequently be reimbursed to the organization.

The financial result of the economic activity of an enterprise is formed from two of its components, the main of which is the result obtained from the sale of products, goods, works and services, as well as from business transactions that are the subject of the enterprise, such as the lease of fixed assets, transfer in the paid use of intellectual property objects and investment in the authorized capital of other enterprises.

The second part in the form of income and expenses not directly related to the formation of the main realized financial result (financial result from sales), forms other financial result, including operating and non-operating income and expenses. If during the reporting period the enterprise made a profit from the sale of products, goods, works, services and other operations that constitute the subject of its activity, then its entire financial result will be equal to the profit from sales plus other income minus other expenses. If the organization receives a loss on sales, then its total financial result will be equal to the sum of the loss on sales plus other expenses minus other income.

The overall financial result obtained in this way is adjusted for the amount of losses, expenses and income in connection with the extraordinary circumstances of the economic activity of the enterprise.

The realized financial result is determined at the end of each reporting period. If the financial result is profit, then it is reflected in the credit of account 99 "Profits and losses" in correspondence with the debit of account 90 "Sales". If the result of the company's activities is a loss, then it is reflected in the debit of account 99 "Profits and losses" in correspondence with the credit of account 90 "Sales".

Other income and expenses included in the overall financial result of the organization are reflected in accounting separately from the financial result from sales on account 91 "Other income and expenses" by means of a "detailed" reflection of certain items of income and expenses during the reporting period.

In the financial statements of profit and loss, income may be shown net of the corresponding expenses related to these income, in cases where this is provided or not prohibited by the rules accounting or if selected articles income and related similar items of expenses are not material for the characteristic financial situation organizations.

Other income is reflected in the credit of account 91 "Other income and expenses" in correspondence with the debit of accounts for the accounting of funds, settlements, inventories and other relevant accounts.

Analytical accounting for account 91 "Other income and expenses" 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 ensure the ability to identify the financial result for each transaction.

It should be borne in mind that entries on accounts 90 and 91 are made on an accumulative basis from the beginning of the reporting year so as to ensure the formation of the necessary information for drawing up a profit and loss statement (Form No. 2).

The balanced result of account 91 "Other income and expenses" in the form of profit and loss is monthly written off, like the balance of account 90 "Sales", to the final accumulative account of financial results 99 "Profits and losses": the balance in the form of profit - to the credit of account 99 s the debit of account 91, the balance in the form of losses - to the debit of account 99 from the credit of account 91.

Extraordinary income and expenses are reflected directly on account 91 "Other income and expenses": income - on credit, expenses - on debit in correspondence with the corresponding accounts for accounting for monetary funds, inventories, settlements, etc.

On account 99, at the end of the first quarter, the interim financial result for the first quarter is revealed, at the end of the second quarter - for the first half of the year, at the end of the third quarter - for 9 months of the year and at the end of the fourth quarter - the final financial result for the entire reporting period.

The information structure of account 99 "Profits and losses" for the formation of the final financial result must ensure the receipt of:

1) systematic reliable information on accounting profit - an indicator necessary to determine the taxable base for income tax by making appropriate tax adjustments to accounting profit;

2) information on the formation of the final indicator of net retained earnings that comes to the disposal of the founders (participants) of the enterprise for distribution at the end of the economic and financial year and is transferred in December of the reporting year to account 84 "Retained earnings (uncovered loss)".

In the system of accounts, reflecting the financial results of the enterprise for the reporting year, all the necessary information about the indicators contained in the financial statements of profit and loss (Form No. 2) must be formed.

Analytical data on all accounts of this group participate as turnovers and balances in the formation of indicators of the profit and loss statement for the reporting year.

At the end of the calendar year, the final calculation of the amount of income tax due to the budget at the established tax rate is made, as a matter of priority, from the amount of the actual accounting profit received by the company for the reporting year. In this case, the amount of taxable profit differs from the accounting profit of the enterprise by the amount of those positive and negative adjustments that are established Tax Code Russian Federation on income taxation.

A complete list of all adjustments to the reported profit to the taxable level is given in the form of a certificate attached to the tax declaration for calculating tax from actual profit.

Due to the fact that the profit indicator in the current quarterly reporting does not represent the final financial result, the current payments of income tax calculated on a quarterly basis, as well as intra-quarter payments, are of an advance nature. This current (in fact, advance) distribution of profits is now reflected during the year on the debit of account 99 "Profits and losses" in correspondence with the credit of account 68 "Calculations of taxes and fees".

The amount remaining after deducting the tax accrued from the profit is called net profit, which does not correspond to international accounting practice. In foreign literature, this term has a different meaning, it means the balanced result of comparing all the income and expenses of the enterprise, i.e. the entire financial result.

With the convergence of Russian accounting practice with international accounting and reporting standards, the concept of net profit as remaining at the disposal of the enterprise practically ceased to exist. Its place was taken by a new concept - “retained earnings of the reporting year”. This part of the profit is now managed by the enterprise after the completion of the process of its formation. From the net profit, the enterprise (both before and now) reimburses payments under the sanctions of the relevant authorities for non-compliance with tax rules and the payment of similar mandatory payments to social state extra-budgetary funds (pension fund, social and health insurance funds).

These expenses are reflected in accounting as they are accrued by a record:

Debit account 99 "Profit and loss"

Credit account 68 "Calculations of taxes and fees",

Credit account 69 "Settlements for social insurance and security."

From the accounting profit, the enterprise, as a matter of priority, reimburses the costs of paying current payments for income tax, current payments of taxes to the local budget paid from net profit, as well as fines covered by net profit, penalties for non-compliance with tax rules and violation of the procedure for settlements with state off-budget social funds, payments to which are equal to tax payments.

The amount of accounting profit received after deducting the listed operating expenses is retained, i.e. the net profit at the disposal of the founders of the enterprise for its use after the approval of the results of production and financial activities for the past reporting year. In accordance with clause 83 of the Regulations on accounting and financial reporting in the Russian Federation in the balance sheet, the financial result of the reporting period is reflected as retained earnings (uncovered loss), i.e. the final financial result revealed for the reporting period, less taxes due from profits established in accordance with the legislation of the Russian Federation and other similar mandatory payments, including sanctions for non-compliance with tax rules.

In the current financial statements, the financial result is defined as the balance of account 99 “Profits and losses”. In the annual financial statements, this indicator is reflected after the reformation of the balance made in December according to the data on the balance of account 84 "Retained earnings (uncovered loss)", subaccount 1 "Retained earnings (loss) of the reporting year", while the corresponding balance on account 99 in the form profit or loss is transferred to account 84, subaccount 1 "Retained earnings (loss) of the reporting year". Retained earnings are credited to sub-account 84-1, and uncovered loss is credited to the debit of the same sub-account.

The financial result from the sale of products is determined by account 90 "Sales", which is designed to summarize information about income and expenses associated with the ordinary activities of the organization, as well as to determine the financial result for them. This account reflects, in particular, revenue and cost of finished goods own production; works and services of a non-industrial nature; purchased products; communication services and transportation of goods and passengers; transport and forwarding and loading and unloading operations, etc. ...

The amount of proceeds from the sale of products is reflected by posting D 62 - K 90. The cost of goods sold is written off to D 90 - K 43. At the end of the year, the deviation of the actual cost of production from the planned one is determined and the detected deviation is written off to the debit of account 90 from the credit of accounts for accounting for production costs ...

At the enterprise, the following sub-accounts are opened for account 90:

• 90/1 - "Revenue";
• 90/2 - "Cost of sales";
• 90/3 - "VAT";
• 90/4 - "Excise";
• 90/9 - "Profit (loss) from sales".

Entries on these sub-accounts are made cumulatively during the reporting year. Monthly comparison of the aggregate debit turnover for sub-accounts 90/2, 90/3, 90/4 and credit turnover for sub-account 90/1 determines the financial result from sales for the reporting month. The revealed profit or loss is written off from sub-account 90/9 to account 99 "Profit and loss" on a monthly basis with final entries. Thus, the synthetic account 90 "Sales" is closed monthly and has no balance at 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 on sub-account 90/9.

D 90/1 - K 90/9 - closing the Revenue subaccount;

D 90/9 - K 90/2 - closing the "Cost of sales" subaccount;

D 90/9 - K 90/3 - closing the "VAT" subaccount;

D 90/9 - K 90/4 - closing the "Excise" subaccount;

D 90/9 - K 99 - profit received as a result of economic activity;

D 99 - K 90/9 - a loss was received as a result of economic activity.

Analytical accounting for account 90 is carried out for each type of products sold.

KirovkhlebProm LLC keeps records of income and expenses in accordance with PBU 9/99 and PBU 10/99.

According to PBU 9/99 "Income of the organization" income is recognized as an increase in economic benefits during the reporting period or a decrease in liabilities, the result of which is an increase in capital, other than the contribution of the owners.

The composition of the company's income can be formed from the following: proceeds from the sale of products; rent for the leased property; proceeds from non-operating transactions through the sale of fixed assets, intangible assets and other types of property; the result of revaluation of individual property assets, etc.

Among them, the predominant place is taken by the proceeds from the products sold. In accounting, this is recognized as income from ordinary activities. In this case, the following receipts are not considered income:

compulsory payments received by the company in the form of VAT, excise taxes, sales tax, etc .;

prepayment for the expected receipt of inventories; advances in payment for products; repayment of a loan or loan provided to the borrower.

Expense is a decrease in economic benefits during the reporting period due to the disposal of assets or the creation of liabilities, which results in a decrease in equity.

The list of expenses includes: the cost of manufacturing products sold; the cost of remuneration of the management apparatus; depreciation deductions; uncompensated expenses from natural disasters, etc.

Retirement of assets is not recognized as expenses: in transactions of acquisition of long-term use property; in connection with contributions to the authorized capital of other enterprises; for payments related to charitable and other activities; by transferring advances, a deposit towards payment of inventories; in repayment of a loan or loan received from credit institutions or lenders.

The current expenses of the enterprise are regulated by PBU 10/99 "Expenses of the organization". In accounting, they are presented in the form of: expenses for ordinary activities (expenses of an enterprise for manufacturing products, selling them, etc.), operating expenses (expenses associated with participation in the authorized capital of other organizations, with the granting of rights on a compensation basis, arising from the possession of intangible assets, sale of fixed assets, etc.), non-operating expenses (various losses of previous years recognized in the reporting year; fines, penalties, penalties; compensation for losses caused by the company, etc.).

In the income statement, expenses are presented with a subdivision into the following groups:

the cost of goods sold, products;

business expenses;

administrative expenses;

other operating expenses;

other non-operating expenses;

extraordinary expenses.

The main source of analysis of financial results and the efficiency of the enterprise is form No. 2 "Profit and Loss Statement".

In order to identify whether the organization has a profit or a loss has been received at the end of the reporting period, it is necessary to determine the financial result. In the article we will tell you in detail what the concept of "financial result" means, what is the method of determining it and what transactions it is reflected in the accounting.

Financial result concept

The financial result is understood as an indicator that characterizes the results of the enterprise's activities, namely, a profit is received or a loss is incurred. The period for determining the financial result is a calendar month.

The value of the financial result is influenced by such indicators as the value, income from non-sale transactions, as well as expenses incurred in connection with the manufacture, purchase and sale of products.

The financial result is defined as the difference between the profit from the sold products (goods, services, works) and the costs of its production (purchase). Also, the indicator of the financial result is revealed minus taxes and fees that are payable to the budget, as well as costs associated with the sale (delivery of goods to retail network, salaries to sellers, storage costs, etc.).

Financial result in accounting

To identify the value of the financial result in accounting, data analysis is performed:

• financial result for the main types of activities;
• indicators of other income and expenses;
• tax accruals for payment to the budget and excise duties.

The financial result is determined by closing the reporting period (month). To do this, the balances of accounts 90 and 91 are rolled up. With this operation, the accountant identifies overall result from the main activities (account "Sales") and from other operations (account "Other income and expenses").

The procedure for reflecting the financial result includes the following stages:

1. Writing off the amount of expenses. All costs for the production (acquisition) and sale of goods (works, services) are written off against the products sold.
2. Analysis of balances for accounts 90 and 91.
3. Crediting profit to Kt 99 or crediting loss to Dt 99.

Financial performance indicators are cumulative in nature, its value for the reporting period is summed up with the values ​​for the previous months (quarters).

An example of the reflection of financial results in accounting

LLC "Flagman" at the end of February 2016 sold products (ceramic dishes) in the amount of 951,000 rubles, VAT 145,068 rubles. at a cost of 674,000 rubles. The costs for the sale of dishes amounted to 34,300 rubles. As of .02.2016, the payment proceeds amounted to RUB 911,000, VAT RUB 138,966.

Let's say the transfer of ownership of the goods passes to the buyer at the time of shipment.

The accountant of LLC "Flagman" will reflect the transactions in the accounting in the following way:

Let's change the conditions: the buyer receives the ownership of the goods at the time of payment. Let's also assume that selling expenses are to be written off against the cost of goods sold in February 2016.

Under the changed conditions, the accounting of the operation to reflect the financial result of LLC "Flagman" will look like this: