Help on Tele2, tariffs, questions

The activities of a commercial enterprise are aimed at making a profit. The company's success in achieving this goal is measured by financial results. The report that presents the financial result for the reporting period is Form 2 “Profit and Loss Statement”. In general, the financial result is understood as the difference between the funds received from sales and the enterprise’s costs for the production of goods or services. Let's consider the financial result and the entries that describe it in more detail.

Entries to record revenue recognition

In accounting, to reflect transactions describing the formation of the financial result for the period, account 90 is used with subaccounts for separate reflection:

• revenue;
• cost of products or services sold;
• excise taxes;
• profit or loss.

This account reflects the revenue received from the main activities of the company (types of activities classified as ordinary are specified in the organization’s charter), revenue from other activities is reflected in account 91 “Other income and expenses.” Thus, the proceeds from the sale of a fixed asset will not be reflected in account 90, but will go to account 91.

D 62 K 90.1 - this entry reflects the recognition of revenue from the sale of goods and the accrual of accounts receivable.

Accounting uses the accrual method - i.e. Revenue is recognized when the goods pass to the buyer, not when cash is received for the transaction.

Postings to reflect cost write-offs

Simultaneously with the recognition of revenue, it is necessary to recognize the corresponding expenses - the cost of the product or service that was sold to the buyer, i.e., recognize the costs incurred in the production of the product or service in a given reporting period:

D 90.2 K 41, 43, 45, 20 - this entry reflects the write-off of the cost of goods or services sold.

Postings to reflect accrued VAT

The sales price includes VAT, which must be allocated as a separate amount in the following entry:

D 90.3 K 68 - this entry reflects the accrual of VAT payable on goods or services sold.

Closing the period and reflecting the financial result

Account 90 includes revenue as a credit, and as a debit - all expenses related to cost, as well as VAT and excise taxes. If at the end of the period the account balance is 90 credits (that is, revenues exceeded costs), then the company recognizes profit in this reporting period. If the account balance is debit, then the financial result of the company’s activities for the reporting period is a loss.

The above sub-accounts are closed to sub-account 90.9 “Profit (loss) from sales”:

D 90.1 K 90.9 - closing sub-account 90.1 based on the results of the reporting year.

D 90.9 K 90.2, 90.3, 90.4 - closing subaccounts 90.2, 90.3, 90.4 based on the results of the reporting year.

D 90.9 K 99 - accrual of profit from the sale of goods or services is reflected.

D 99 K 90.9 - loss from activity for the period is reflected.

In the same way, account 91 is closed on account 99.

Thus, at the end of each month, account 90 has a zero balance, while its subaccounts have balances throughout the year. These balances at the end of the month are incoming balances at the beginning of the next month, thereby the balance on sub-accounts grows cumulatively, while the total result on account 90 is zero.

On the last day of the reporting period, account 99 is closed at account 84, i.e. account 99 goes into the next period with a zero balance.

Fin. the result is formed on the active-passive account 99 “Profits and losses”, which has a one-sided balance. During the year, losses and losses are recorded in the debit of account 99 on an accrual basis, and profits and income are recorded in the credit account. By comparing debit and credit turnover, the final financial result of the organization’s activities for the reporting period is determined. A credit balance means a profit, a debit balance means a loss.

The final financial result (net profit or net loss) is compiled during the year on account 99 from: profit or loss from ordinary activities; other income and expenses; losses, expenses and income due to emergency circumstances of economic activity; accrued payments of income tax and payments for recalculation of this tax based on actual profit, as well as the amount of tax penalties due.

The organization receives the bulk of its profit (loss) from the sale of finished products, goods, works, and services. The financial result from their sale is defined as the difference between the proceeds from the sale of products (works, services) without VAT, excise taxes, export duties, sales tax and other deductions and the costs of its production and sale.

The result from the sale of products, works, services and goods is revealed in the active-passive account 90 “Sales”. The debit of this account reflects the actual cost of products sold, the purchase price of goods sold, expenses associated with work performed and services provided, VAT, sales tax and other expenses. The credit of account 90 records revenue from the sale of products, goods, works and services. Comparing the debit and credit turnover of account 90, find the result (in the form of profit or loss), which is monthly. debited from account 90 to account 99 “Profits and losses”.

Upon receipt of profit: D90 K99; loss – D99 K90. Account 90 is closed and has no balance.

13. Determination of the financial result from the write-off and sale of property (fixed assets, materials, etc.).

Account 91, as part of other income and expenses, also reflects the results from the sale and other disposal of: fixed assets; intangible assets; materials; other property of the organization (except for finished products and goods).

The amount of money that you must receive from buyers for the fixed assets, intangible assets and other property of your organization sold to them, you must reflect on the credit of subaccount 91-1: Debit 62 (76) Credit 91-1 - income from the sale of property is taken into account. At the same time, you must write off the residual value of sold fixed assets, intangible assets, as well as the actual cost of other property transferred to buyers as a debit to subaccount 91-2: Debit 91-2 Credit 01 (04, 03, 10, 58, ...) - the residual value of the sold property is written off. Proceeds from the sale of an organization's property (except for securities) are subject to VAT. You should charge VAT on the proceeds from the sale by posting: Debit 91-2 Credit 68 subaccount “VAT Calculations” - VAT is charged on the proceeds from the sale of property. You must also reflect all expenses associated with the sale of property in the debit of subaccount 91-2: Debit 91-2 Credit 20 (23, 25, ...) - expenses associated with the sale of property are taken into account.

Analysis of financial results from the sale, disposal and other write-off of property (fixed assets and other assets) involves considering these operations from the point of view of the correct assessment of the property, determining the costs associated with its disposal, and comparing them with income from possible sales. The calculation of profit from the sale of fixed assets and other property of the enterprise, as well as profit from non-sales operations, is presented in Fig.

Calculation of profit from the sale of fixed assets of property and from non-sales operations.

It is advisable to compare the income from the disposal of property with the income that the organization can receive if it continues to operate or is provided for temporary use.

Selling unused property is definitely effective.

Income (losses) from the sale of property is predicted taking into account the time factor: income from the sale minus discounted income from the possible operation of the equipment.

Each type of sale of other assets (raw materials, materials, etc.) has its own specifics that must be taken into account when analyzing.

Particular attention should be paid to the sale of excess materials. This is necessary to identify excess inventory, which leads to a slowdown in inventory turnover.

When analyzing rental income, it is necessary to compare it with the costs of maintaining the rental property.

To maintain accounting records, Invent-Tehnostroy LLC uses an automated form of accounting using the program “1C: Accounting 7.7” and “1C: Accounting in UPP 8.2”.

The financial result from the sale of products, as noted earlier, is the difference between the amount of proceeds from the sale of products (work, services) minus VAT, excise taxes and other taxes and mandatory payments and the full actual cost of products (work, services) sold. The full actual cost includes the costs of producing products, performing work and providing services (excluding management expenses), selling expenses and management expenses.

The main objectives of accounting for the sale of products (works, services) are:

Control over the timely and correct execution of primary documents for the sale of products (works, services);

Timely issuance and provision of settlement and payment documents to the buyer;

Providing information on the availability and movement of products to managers of relevant departments in order to monitor the timely receipt, shipment and safety of products;

Control over the timely receipt of cash and other funds from sales, reconciliation of mutual settlements with buyers.

Accounting for financial results from sales of products consists of identifying them in accounting accounts. In Invent-Tehnostroy LLC, to determine profits and losses from the sale of products (works, services) in accordance with the Instructions for using the Chart of Accounts, account 90 “Sales” is provided. It summarizes information about income and expenses associated with normal activities.

An enterprise independently qualifies income and expenses associated with ordinary activities based on the nature of its activities, the type of income and the conditions for their receipt.

Thus, account 90 “Sales” of Invent-Tehnostroy LLC reflects the financial results from the sale of finished products (pipe in a polyethylene sheath, steel, galvanized, in polyurethane foam insulation, as well as bends, tee branches, fixed supports and polyurethane foam insulation, starting compensators); sale of materials using the traditional method, and on a toll basis to subcontractors, as well as certificates of completed work for the Kazan Heating Network Company.

Revenue from the sale of products (services) is reflected in the credit of account 90 “Sales”. The debit of account 90 “Sales” reflects the cost of sales of Invent-Tehnostroy LLC. For finished products, the cost of sales consists of the cost of products at accounting prices and the difference between the actual cost and the accounting value. This procedure for forming the cost of selling products is due to the fact that the current accounting of its movement in Invent-Tehnostroy LLC is carried out at accounting prices. Their use at the enterprise in question is justified, since the plant operates in the chemical industry with mass and serial production and a large range of finished products. The advantages of using accounting prices are convenience in carrying out operational accounting of the movement of finished products, stability of accounting prices and unity of assessment in planning and accounting.

The debit of account 90 “Sales” also reflects the value added tax due to the budget and sales expenses.

The reflection of the debit and credit terms of account 90 “Sales” can be schematically presented in table 2.2.1.

Table 2.2.1 - Account 90 “Sales” of ITS LLC

From the point of view of practical application, the existing structure of account 90 “Sales” at Invent-Tehnostroy LLC raises some questions about the formation and accounting of the financial result from the sale of products (works, services).

According to clause 3 of PBU 9/99, in particular, receipts of VAT, excise taxes and other similar mandatory payments are not income of the enterprise. This norm should have entailed a change in the methodology for recording revenue in account 90 “Sales”. However, no changes have yet been made to the Instructions for using the Chart of Accounts.

All mandatory payments, which according to PBU 9/99 are not income, are reflected in account 90 “Sales”, which means that the Instructions for using the Chart of Accounts do not take into account the requirements of the document in the regulatory system of non-recognition of VAT and excise taxes as income.

The enterprise is given the right to clarify the content of the subaccounts shown in the Chart of Accounts, exclude and combine them, and also introduce additional subaccounts. If facts of economic activity arise, correspondence for which is not provided for in the standard scheme, the organization can supplement it. Consequently, Invent-Tehnostroy LLC has the right to change the procedure for recording VAT in the accounting accounts.

In this regard, the following methodology is recommended for reflecting revenue and VAT amounts in accounting accounts:

K-t sch. 90 “Sales” - for the amount of revenue excluding VAT;

Dt sch. 62 “Settlements with buyers and customers”

K-t sch. 68 “Calculations for taxes and fees” - for the amount of VAT due to be received from the buyer (customer).

When reflecting VAT amounts on account 90 “Sales”, as is done in Invent-Tehnostroy LLC, the amount under the heading “revenue (net) from the sale of goods, products, works, services (minus VAT, excise taxes and similar mandatory payments)” The income statement is determined by calculation: as the difference between sales revenue and mandatory payments. This creates certain difficulties in reporting and requires a certain amount of time.

The recommended methodology fully complies with the standards of PBU 9/99. In addition, with this option of reflecting VAT amounts due from the buyer in the financial statements, the revenue indicator (net) will correspond to the balance of the corresponding sub-account, which significantly facilitates the process of drawing up Form No. 2 Appendix 3.

Based on the economic content and instructions for using the Chart of Accounts, entries in account 90 “Sales” in Invent-Tehnostroy LLC are kept in the following subaccounts:

90-1 “Revenue”;

90-2 “Cost of sales”;

90-3 “Value added tax”;

90-9 “Profit (loss) from sales.”

Entries in subaccounts are made cumulatively throughout the year. At the end of each month, the results of debit turnover in subaccounts 90-2 “Cost of Sales”, 90-3 “Value Added Tax” are compared with the total of credit turnover in subaccount 90-1 “Revenue”. If the credit turnover exceeds the debit turnover in account 90 “Sales”, a profit is revealed, otherwise a loss. The identified result is recorded as the final turnover of the reporting month with the operation:

Dt sch. 90-9 “Profit from sales”

K-t sch. 99 “Profits and losses” (if there is a profit);

Dt sch. 99 "Profits and losses"

K-t sch. 90-9 “Loss from sales” (if a loss is identified).

Thus, at the end of each month there is no balance in the synthetic account 90 “Sales”. However, all subaccounts of this account have a debit or credit balance, the value of which accumulates starting from January of the reporting year. At the end of December, entries are made to close all subaccounts. To do this, the corresponding balances are written off from all subaccounts to subaccount 90-9 “Profit (loss) from sales.” As a result of the entries made, as of January 1 of the next reporting year, none of the subaccounts of account 90 “Sales” had a balance.

Let's consider the determination of the financial result from sales at Invent-Tehnostroy LLC.

In December 2009, Invent-Tehnostroy LLC sold PPTK LLC a steel pipe in polyurethane foam insulation f273*8 for the amount of 254.5 thousand rubles. (including VAT - 38.82 thousand rubles). Payment from PPTK LLC was received in December 2009 in the amount of 254.50 thousand rubles. The cost of products sold amounted to 169.3 thousand rubles. The balance of the subaccounts of account 90 “Sales” as of December 1, 2008 was:

The credit balance on subaccount 90-100 “Sales of finished products in Russia” is 682,563.1 thousand rubles;

Debit balance on subaccount 90-20 “Cost of finished products” - 481546.3 thousand rubles;

Debit balance on subaccount 90-3 “VAT” - 104,119.8 thousand rubles;

Debit balance on subaccount 90-90 “Profit (loss) from the sale of finished products” - 96897.0 thousand rubles.

Currently, in domestic accounting practice, a single sales accounting method recommended by IFRS is used - the accrual method. According to it, sales revenue arises at the time the product is shipped, and sales revenue is considered received in the reporting period when ownership of the product is transferred to the buyer. PBU 9/99 supplements this criterion for revenue recognition with four conditions, the content of which is discussed in the theoretical section of the work. The most important condition in this case is the transfer of ownership of the product to the buyer, since by this moment the remaining conditions, as a rule, have already been met.

The moment of alienation of property is determined solely by the terms of the contract between the parties and can occur during the direct transfer of products to the buyer, as it is paid for, as any other condition established by the contract is fulfilled.

Accounting records for December 2009 are reflected in table 2.2.2.

Table 2.2.2 - Determination of the financial result from sales and closing of account 90 “Sales” in LLC “Invent-Tehnostroy” in 2009

Thus, during the year, in subaccounts 1, 2, 3 of account 90 “Sales”, information on sales is collected on an accrual basis in the context of economic elements - revenue, cost, taxes. They close at the end of the year. Account 90-9 “Profit (loss) from sales” during the year reveals the financial result from sales of Invent-Tehnostroy LLC - in our case it amounts to 96943.4 thousand rubles. profit (Сн90-9 + Add 90-9 = 96897.0 + 46.4).

In Invent-Tehnostroy LLC, in most cases of contractual relations, ownership of the products passes upon direct transfer of the products to the buyer. If the contract is concluded on the terms of advance payment, the receipt of the advance is reflected in the accounting transactions:

Dt sch. 51 “Current accounts”

K-t sch. 62 “Settlements with buyers and customers” - without using account 90 “Sales”, since receipt of an advance payment does not determine the moment of transfer of ownership.

If the contract defines the moment of transfer of ownership of the product as the date of payment by the buyer, then the procedure for accounting for the fact of transfer of money will change. In this case, regardless of where the products are located at the time of payment, the receipt of money by Invent-Tehnostroy LLC and the transfer of ownership of the paid products to the buyer is reflected by the entry:

Dt sch. 51 “Current accounts”

K-t sch. 62 “Settlements with buyers and customers”;

Dt sch. 62 “Settlements with buyers and customers”

K-t sch. 90-10 “Sale of finished products” - both entries for the amount of funds actually received.

Goods that have become the property of the buyer are written off from the balance sheet with the following entry:

K-t sch. 43 “Finished products” - at the cost of goods sold.

Until the actual transfer (shipment) of valuables to the buyer, the products remaining in the possession of Invent-Tehnostroy LLC are recorded in the debit of off-balance sheet account 002 “Inventory assets accepted for safekeeping” and upon transfer (shipment) are written off to the credit of account 002 .

Accounting for financial results from the sale of products at Invent-Tehnostroy LLC can be presented as follows:

In accordance with Figure 2.1.3, the procedure for generating financial results from the sale of products in the accounting accounts at Invent-Tehnostroy LLC is as follows. Initially, on the basis of the concluded agreement, an invoice for the shipment of products is generated in four copies: to the sales department, to the warehouse, to the security department and to the buyer. For each invoice, an expense order is drawn up. The next day after the products are shipped, the security department brings invoices with a mark on receipt of the cargo (so-called passes), the accountant signs in the pass register for their receipt. Next, the received invoices are recorded in the business transactions journal and the following transactions are generated:

Dt sch. 62-11 “Settlements with buyers and customers for finished products”

K-t sch. 90-10 “Sale of finished products” - products are sold to the buyer;

Dt sch. 90-20 “Cost of finished products”

K-t sch. 43 “Finished products” - for the amount of products shipped at the discount price;

Dt sch. 90-30 “VAT of finished products”

K-t sch. 68-03 “Value added tax” - for the amount of VAT.

It should be noted that Invent-Tehnostroy LLC has a fairly effective system of internal control over the completeness, accuracy and timeliness of financial results being reflected in accounting. We made this conclusion based on the results of a survey of accounting employees conducted according to a pre-compiled verification test. In addition, the effectiveness of control measures at the enterprise is determined by automatic data processing.

Since accounting of finished products in the warehouse of Invent-Tehnostroy LLC is carried out at accounting prices established by the economic planning department, the actual cost of shipped products is determined by calculation.

At the end of each month, turnover for the receipt and consumption of finished products is reflected in the statement of movement of finished products and is reconciled: for receipts with the production sector, for consumption and balances - with the warehouse record card of the storekeeper of the finished products warehouse. The actual cost of the plant's products sold is determined on the basis of the shipment list at accounting prices and the weighted average percentage of deviations. When calculating the percentage of deviations, data on the actual cost and accounting value of products released from production and their balances in the warehouse are used. The methodology for calculating the actual cost of products sold includes the following steps:

1) to the balance of finished products in the warehouse at accounting prices and actual cost is added, respectively, the output of finished products at accounting prices and at actual cost;

2) the ratio of the actual cost to the accounting price is determined;

3) the actual cost of all supplied finished products is calculated by multiplying the shipped products at accounting prices by the ratio coefficient.

We will show the procedure for calculating the percentage of deviations and the actual cost of products sold using Table 2.2.3.

Table 2.2.3 - Methodology for calculating the actual cost of products sold at Invent-Tehnostroy LLC for 2009

	Index	At discounted prices	At actual cost
	Balance of products in warehouse at the beginning of the reporting period (RUB)
	Products received from production to warehouse (RUB)
	Total (item 1 + item 2)
	The ratio of the actual cost of products to their cost at discount prices, %	233 900*100/237 000 = 98,69
	Products sold to customers (RUB)		(210 000*98,69/100)
	Balance of products in the warehouse at the end of the reporting period (rub.) (clause 3 - clause 5)

Using the calculation of the actual cost of products sold presented in Table 2.2.3, Invent-Tehnostroy LLC distributes actual costs between the products sold and their balance in the warehouse; this calculation is made at the end of each month in a specially designed table. Thus, the actual cost of products sold is calculated by adding the accounting cost and deviations from it.

Synthetic accounting of the output of finished products at Invent-Tehnostroy LLC is carried out without using account 40 “Output of products (works, services)”. If the cost of production increases, a regular entry is made for the amount of deviations, and if the cost decreases, an entry is made using the “red reversal” method. The specific procedure for forming the financial result from sales in the accounting of Invent-Tehnostroy LLC is considered using an example using the calculated values ​​of table 2.2.3.

Let's consider: as of December 1, 2008, a seamless steel bend 159*8 is listed in the warehouse of Invent-Tehnostroy LLC at a discount price of 35 thousand rubles. In December, a seamless steel bend in polyurethane foam insulation 159*8 worth 202 thousand rubles was delivered to the warehouse from production. at discounted prices. The amount of deviations for manufactured products for the month amounted to 7.9 thousand rubles. (209.9-202.0).

In the same month, Invent-Tehnostroy LLC shipped a seamless steel elbow in polyurethane foam insulation to OJSC Kazancentrstroy at a discount price of 210 thousand rubles, at sales prices - in the amount of 278 thousand rubles. (including VAT 42.4 thousand rubles), savings on manufactured products amounted to 2.751 thousand rubles. (see table 2.1.3). Payment from Kazancentrstroy LLC was received in December 2008 in the amount of 278 thousand rubles.

Accounting records for accounting for the described operations are presented in table 2.2.4.

Table 2.2.4 - Accounting records of Invent-Tehnostroy LLC when forming the financial result from product sales for 2009.

				Amount, t.r.
	A branch of steel b/sh 159*8 in polyurethane foam insulation was received into the warehouse at discounted prices
	At the end of the month, the deviation of manufactured products at accounting prices from their actual cost is reflected
	Revenue from the sale of products of OJSC Kazancentrstroy was recognized
	VAT reflected (18%) in the end of the month
	Cost of sales is recognized as an expense of the reporting period
	Savings on manufactured products are reflected (reversal)
	Profit from product sales is identified and reflected (clause 3 - clause 4 - clause 5 + clause 6)

Noteworthy is the procedure for recording the amounts of value added tax due from the buyer. From Table 2.2.4 it can be seen that the enterprise uses a somewhat unique methodology for reflecting tax amounts in its accounting accounts. This is due to the fact that until 2009, in accordance with the accounting policy of Invent-Tehnostroy LLC, the moment of occurrence of a tax liability for calculating VAT for payment to the budget was determined “on payment”. Amounts of tax on products sold were accumulated in account 76-50 “Calculations for VAT”. As payment for shipped products was received, an entry was made for the corresponding tax amounts:

Dt sch. 76-50 “Calculations for VAT”

K-t sch. 68-03 “Value added tax”.

Thus, under the credit of account 68-03 “Value Added Tax”, the amount of value added tax paid by buyers was collected, which was transferred to the budget within the appropriate time frame.

Returning to accounting for sales of products using the accrual method, we can say that this procedure corresponds to the fundamental principle of accounting - the principle of property separation. It is with this approach that reliable information about the financial condition of the enterprise is formed in the accounting accounts, since its balance sheet reflects exactly the property that belongs to it by right of ownership, and precisely until the enterprise loses its right of ownership.

Separately, we should comment on the content of the revenue recognition criteria, which by their nature largely determine the generated financial results from sales. In particular, one of them raises some doubts: revenue is recognized in accounting if “there is confidence that as a result of a specific transaction there will be an increase in the economic benefits of the organization” (clause 12 of PBU 9/99). This revenue recognition condition is borrowed from IFRS 18 Revenue. It is successfully used in practice in countries with developed economies, where confidence in receiving income and the absence of uncertainty in its receipt arise from the agreement concluded by the parties (it gives the right to file a lawsuit and claim lost income). In Russia, where the economy is just entering into market relations, an enterprise can be confident of receiving income, as a rule, only if it has received an advance payment, advance payment, as well as a deposit or deposit.

The peculiarity of this condition is that it gives rise to the problem of practical “combination” in accounting of the assumption of temporary certainty of the facts of economic activity and the requirements for revenue recognition. If there is no certainty of receipt of revenue, the date of its recognition in accounting is postponed, although ownership of the product (work, service) has been transferred to the buyer. This criterion gives the organization the right not to recognize revenue if there is no certainty about the receipt of assets as part of revenue.

Thus, one of the basic principles of ensuring the reliability of financial information (the requirement of prudence, which implies a greater willingness to recognize expenses and liabilities in accounting than possible income and assets) is introduced “into the revenue recognition mechanism.” In this case, a methodological problem arises in reflecting these business transactions in the accounting accounts: on the one hand, it is necessary to reflect the “shipment” in accounting, on the other, to show the deferral of revenue.

For the purpose of reflecting “uncertainty in increasing economic benefits” when selling products (services) of Invent-Tehnostroy LLC, you should use accounts for accounting for income and expenses of deferred periods, which will mean deferring the recognition of income and expenses:

Dt sch. 62 “Settlements with buyers and customers”

K-t sch. 98 “Deferred income” - reflection of potentially determined revenue on the date of alienation of assets (products);

Dt sch. 97 “Deferred expenses”

K-t sch. 43 “Finished products” - a reflection of the shipment of products.

In the reporting period, when there is confidence in the receipt of assets in payment for revenue or assets in payment (for example, cash) are received, the following entries should be made:

Dt sch. 51 “Current account”

K-t sch. 62 “Settlements with buyers and customers” - funds were received to pay for revenue;

Dt sch. 98 “Deferred income”

K-t sch. 90-1 “Sale” - revenue from the sale is recognized;

Dt sch. 90-2 “Cost”

K-t sch. 97 “Deferred expenses” - the cost of products sold is recognized as an expense of the reporting period;

Dt sch. 90 “Sales” (99 “Profit and Loss”)

K-t sch. 99 “Profits and losses” (90 “Sales”) - reflects the financial result from sales.

The proposed procedure for reflecting the sale of products (services) in accounting is also possible for use in practice, as it makes it possible to increase the reality and informativeness of accounting information.

In practice, problems may arise in comparing accounting and tax accounting of enterprise income. In accordance with the accounting policy of Invent-Tehnostroy LLC, for tax purposes, revenue from sales of products (services, property) is determined on an accrual basis. In this regard, in tax accounting, in order to recognize income from sales, it is sufficient to fulfill the condition of transfer of ownership to the buyer, while in accounting it is necessary to simultaneously fulfill five conditions. Consequently, when determining revenue in accounting and tax accounting, there may be a time gap. It arises at the moment when ownership of the sold products has already transferred, and the enterprise has an obligation to include income in the tax base, but all the conditions for recognizing revenue for accounting purposes have not been met. As a result, the moment of recognition of income from sales for tax purposes occurs earlier than in accounting, which leads to the formation of temporary differences.

According to paragraph 8 of PBU 18/02, temporary differences are understood as income and expenses that form accounting profit (loss) in one reporting period, and the tax base for income tax in another or other reporting periods.

According to clause 9 of PBU 18/02, temporary differences in the formation of taxable profit lead to the formation of deferred income tax. Deferred income tax is understood as an amount that affects the amount of income tax payable to the budget in the following reporting period or in subsequent reporting periods.

In the process of selling products, that is, when they are shipped and transferred to customers, sales costs arise. In the accounting records of Invent-Tehnostroy LLC, these include all actual costs for shipment and sales of products, in particular costs associated with:

Loading into vehicles;

Packaging;

Storage;

Transportation of products to the destination stipulated by the contract (except for those cases when they are reimbursed by buyers in excess of the price of the product);

Other expenses similar in purpose.

Thus, in Invent-Tehnostroy LLC, to determine profits and losses from the sale of products (works, services) in accordance with the Instructions for using the Chart of Accounts, account 90 “Sales” is provided. This account is intended to summarize information about income and expenses associated with the normal activities of the enterprise, as well as to identify the financial result of sales.

The greatest interest is in accounting for the sale of finished products, which has some features. Therefore, the procedure for reflecting transactions for the sale of manufactured products in accounting is considered in more detail, since the financial result for them constitutes the largest share in the total profit from sales of the enterprise.

Products are sold in accordance with concluded agreements with buyers (customers). The purpose of recording business sales transactions in accounting accounts is to determine the financial result from the sale of products (works, services). At the end of each month, the financial result (profit or loss) from sales is determined on the basis of documents confirming the sale of products (works, services).

The financial result from the sale of products (works, services) is determined on account 90 “Sales”. The account is active-passive, not balance.

On account 90, both debit and credit reflect the same sales volume, but in different estimates: for credit - at sales prices (free, contractual, etc.), including VAT and excise taxes, for debit - at full cost, including sales costs, VAT, excise taxes and other mandatory payments.

Transactions on account 90 are reflected when revenue from sales is recognized in accounting at the time of transfer of ownership of the product, which is established in the agreement and enshrined in the accounting policy of the organization.

Scheme for determining financial results:

Amount of revenue from sales (credit turnover for the month on account 90/1)

Cost of sales (total debit

turnover on accounts 90/2, 90/3, 90/4, 90/5)

Financial result (profit

or loss)

The chart of accounts also provides for the possibility of maintaining accounting for account 90 “Sales” using special subaccounts:

90/1 “Revenue” - for accounting for receipts of assets recognized as revenue;

90/2 “Cost of sales” - for accounting for cost of sales;

90/3 “Value added tax” - to account for VAT amounts due from the buyer (customer);

90/4 “Excise taxes” - to account for the amounts of excise taxes included in the price of products (goods) sold;

90/5 “Export duties” - to account for the amounts of export duties;

90/9 “Profit/loss from sales” - to identify the financial result (profit and loss) from sales for the reporting month.

When using these sub-accounts, accounting for operations to generate income and expenses from ordinary activities will be carried out as follows:

entries in subaccounts 90/1 “Revenue”, 90/2 “Cost of sales”, 90/3 “Value added tax”, 90/4 “Excise taxes”, 90/5 “Export duties” and credit turnover - in subaccount 90/ 1 “Revenue”;

the financial result from sales for the reporting month is determined by comparing the total debit turnover in subaccounts 90/2 “Cost of sales”, 90/3 “Value added tax”, 90/4 “Excise taxes”, 90/5 “Export duties” and credit turnover - according to subaccount 90/1 “Revenue”;

monthly, with final turnover, the financial result from sales is written off from subaccount 90/9 “Profit/loss from sales” to account 99 “Profits and losses”;

synthetic account 90 “Sales” does not have a balance at the reporting date;

at the end of the reporting year, all subaccounts opened to account 90 “Sales” (except for subaccount 90/9 “Profit/loss from sales”) are closed with internal entries to account 90/9 “Profit/loss from sales”.

Correspondence of accounts for recording income and expenses from ordinary activities (using separate sub-accounts):

D-t 62 K-t 90/1 - reflection of sales revenue;

D-t 90-3 K-t 68 - reflection of VAT on revenue after shipment;

D-t 90/2 K-t 20, 26, 43, 44, etc. - reflection of expenses included in the cost of sales;

D-t 90/9 K-t 99 - monthly assignment of the amount of profit from sales identified at the end of the reporting month from a separate sub-account to the profit and loss account;

D-t 99 K-t 90/9 - monthly assignment at the end of the month of the amount of loss from sales identified at the end of the reporting month from a separate sub-account to the profit and loss account.

In general, account 90 does not have a balance at the end of the month, however, all sub-accounts may have a balance during the year and their value will increase starting from January of each year. Subaccount 90/1 can only have a credit balance during the year, and subaccounts 90/2, 90/3, 90/4, 90/5 can only have a debit balance.

CJSC Vesna sold goods for a total amount of 118,000 rubles in December.

(including VAT - 18,000 rubles).

Cost of goods sold 65,000

rub. The accountant will make the following entries:

D-t 62 K-t 90/1 118,000 rub. - revenue from the sale is reflected; D-t 90/2 K-t 43 65,000 rub. - the cost of products sold is written off;

D-t 90/3 K-t 68 18,000 rub. - VAT charged;

D-t 51 K-t 62 RUR 118,000 - money received from buyers;

D-t 90/9 K-t 99 35,000 rub. (118,000 - 65,000 - 18,000) - reflected

profit of the reporting month.

On December 31 (after the financial result for December has been determined), all sub-accounts opened for account 90 must be closed:

D-t 90/1 K-t 90/9 - subaccount 90/1 is closed;

Dt 90/9 Kt 90/2 (90/3, 90/4, 90/5) - subaccounts with a debit balance are closed.

As a result of such entries, debit and credit turnovers on the subaccounts of account 90 will be equal, and the balance as of January 1 of the next year on account 90 as a whole and on all its subaccounts will be zero.

Let's use the data from example 1. On December 31, the accountant will make the following entries: D-t 90/1 K-t 90/9 RUB 118,000. - subaccount 90/1 is closed; D-t 90/9 K-t 90/2 65,000 rub. - subaccount 90/2 is closed; D-t 90/9 K-t 90/3 118,000 rub. - subaccount 90/3 is closed.

The balance of account 90 and all subaccounts is zero.

*) Questions for self-control 1.

What products are considered finished? 2.

What valuation methods are used in current accounting? 3.

At what cost are finished products reflected on the balance sheet? 4.

On what account is the actual cost of production determined? 5.

How is the financial result of the sale determined? 6.

What methods exist for accounting for product sales? 7.

How are records of shipped products kept? 8.

Which accounting register reflects the movement of finished products and their sales?

APPENDICES TO CHAPTER 9

INVOICE Ig from " " 200_ g.

Salesman. Buyer^

Address Address

Seller identification number (TIN).

shipper and personal address Identification number buyers |TIN)_

Consignee and his address

To the payment document and from 200 g

Name of goods* (descriptions* of work performed, including UNITED QUANTITY Prices (tariff) per unit of measurement Cost of goods (works, services), without taxes In there are excise tax numbers Tax joint Amount of tax Cost of goods (works.

services), total including tax Country

origin M" cargo customs declaration 1 2 3 4 6 7 a 9 10 11 TOTAL payable Head of organization Chief accountant Issued_

(individual entrepreneur) np (details of certificates* of state registration of an individual, entrepreneur) submitting to the responsible ptsv

from the seller

Notes The first exenpiyar- pokrpatmva. send a copy to the seller

ORDER-INVOICE NO.

Agreement N2

Dispatch time

Head warehouse

Reverse side of the invoice order

ORDER FOR SHIPPING

Send according to this order

Sending method Payment terms

Beginning sales department signature

Ch. accountant signature

Sent

Shipping method

Transport document

Dispatch date " " 200_

Forwarder

An invoice No. was issued from " " 200 g.

Accountant

Reverse side of journal-order No. 11

Analytical data on account 90

Nzimgmoeanie Total A 1 2 3 4 5 6 For the reporting period Loan turnover amounts received, written off "including: Debit turnover Profit Loss | from the beginning of the year to the reporting month inclusive Loan turnover, amounts received, written off including: Turnover by debit Profit Loss Journal-order completed * "20 year.

The general ledger of turnover reflects " " 20 year.

Executor Chief accountant

Instructions

Open an accounting account number 90 (“ Sales"). This will help you analyze all the information about the goods sold and subsequently determine the value of the financial result A. The credit of the account must reflect the amount of proceeds from the sale of goods at selling prices. In turn, its debit includes the production cost of goods sold, the cost of packaging, excise taxes, commercial expenses, the amount of tax payments, as well as other expenses of the enterprise. In the final result e by debit should be the value of the actual full cost of the commodity products with deductions and taxes, and for a loan - the value of the amounts paid by buyers for the products.

View subaccounts by opening them under the account " Sales" They will allow you to reflect the specific components of the values ​​that are used in calculating the financial result A. For these purposes, open: “Sales revenue” 90.1 subaccount, “VAT” 90.2 subaccount, 90.3 subaccount “Cost of sales”, subaccount 90.4 “Export duties”, “Excise taxes” subaccount 90.5, “Sales tax” subaccount 90.6. Then, based on the accounts you reviewed, create a 90.9 subaccount called “Sales Profit/Loss.”

Calculate the turnover data obtained at the end of the month for the debit and credit of the account " Sales" Write off debit turnover on subaccounts 90.2-90.6 to credit subaccount 90.1. When comparing these values, determine whether financial is positive or negative result from the sale of goods. Write off the received amount from subaccount 90.9 to account 99 “Profit and Loss”. After this, account 90 should have no balance at the end of the month, but its subaccounts will accumulate a debit or credit balance every month.

Close under account 90 all open sub-accounts at the end of the reporting year, with the exception of one sub-account - 90.9. Using internal records, analyze the data for this subaccount. Thus, on the 1st day of the next reporting year (January 1), all subaccounts should have a zero balance. Certain financial result will allow you to assess the relationship between the amounts of income and expenses.

Sources:

• how to find financial results

Financial result will help you reflect the relationship between income and expenses of your business. This indicator can be positive (profit) if income exceeds expenses, and negative (loss) when expenses exceed income.

Instructions

The profit that a company receives in result e sale of products of own production is called from the sale of goods or services. In this case, the indicator is calculated as the difference between the revenue received and the cost. In its full form, the formula can be presented as follows: Prp = C? Vр - Срп = Vр? (C - Sep), where Prp is the profit from sales of products, C is the price of a unit of production, Vp is the volume of products sold, Srp is the total cost of products sold, Sep is the total cost of a unit of production.

If an enterprise only sells goods or (without producing them), then in this case they talk about profit from sales, which can be calculated as the difference between gross profit and expenses (administrative + commercial). In full as follows: Psales = B – Srp – KR – UR, where Psales is profit from sales, B – revenue from sales of products, Srp? full cost of goods sold, KR - selling expenses, UR - administrative expenses.

Gross profit is calculated as the difference between sales revenue and the total cost of goods sold.

To obtain the profit before tax (Pdon), you need to add other income to Psales and subtract other expenses. Having calculated the Pdon, the organization pays the necessary payments and receives a net profit. The latter is the source of payment of founder's income and the formation of the enterprise's own capital.

Video on the topic

note

Financial result- this is the result of the economic activity of the enterprise, the increase or decrease in its equity capital. It is determined by comparing costs and income received for a certain period. Main indicators characterizing financial result- P & L.

Instructions

In practice, the most common way to calculate financial result and the next one. For a certain period of time (quarter, month), the amount of cash and non-cash funds received and spent is calculated. The resulting positive difference is a profit, a negative difference is a loss. If we add the balance at the beginning of the period to the resulting difference, we will have the real balance.

However, despite the convenience of this method, it is not entirely correct. The result we got is result active flow, or cache flow, i.e. the difference between revenues and expenses for a certain period. The amount received by us, which represents real money, may in fact be a monetary obligation. For example, these could be advances that a company owes to suppliers for goods received.

To determine financial result It’s not enough to know the difference between receipts and payments. It is precisely the profit that needs to be calculated, i.e. the difference between income and expenses. In this case, income, if it is not equal to the amount of funds received, will be determined “by shipment”. This method assumes that the company receives income at the time of transfer of goods to the buyer, and not at the time of receipt. In the same way, expenses are taken into account at the time of receipt of the goods.

With this method of determining financial result and with a negative cash flow, the profit can be positive. If the cash flow is calculated over a long period, then sooner or later, provided that the customer pays, it will be positive. The same cannot be said for profits.

However, this method also has some. First, information about receipts and expenses may only be available for some time. Secondly, the income calculated “by shipment” does not coincide with the amount of funds available at the moment. Therefore, for cash balances, it is necessary to carry out analysis (“by shipment”) and plan cash flow.

Video on the topic

Data that characterize various aspects of an enterprise’s activities related to education, as well as the use of all its funds and savings, are financial indicators. At the same time, the main and most frequently used financial indicators can be divided into five groups, reflecting different aspects of the financial condition of the company: liquidity ratios, profitability, business activity, sustainability (capital structure indicators) and investment criteria.

Instructions

Profitability ratios determine how profitable a company's operations are. The return on sales ratio shows the share of net profit in the volume of all sales of the enterprise. It can be calculated by the ratio of net profit to net profit multiplied by 100%.

The return on equity ratio determines the efficiency of using the capital that was invested by the owners of the enterprise. It is calculated using the following formula: net profit must be divided by and multiplied by 100%.

Video on the topic

Sources:

• how to calculate financial ratios

To reflect the economic operations of manufacturing enterprises aimed at producing and selling finished products, accounting uses the financial result from the sale of goods. This value is determined monthly on the basis of documents that confirm the fact of sale.

Instructions

Use account 90 “Sales” to summarize all information about products sold and further determine the financial result. On the credit side of the account it is necessary to reflect the proceeds from sales at selling prices, and on the debit side - the production cost of products sold, the cost of packaging, selling expenses, excise taxes, value added tax and other costs of the enterprise. As a result, the debit collects information on the full actual cost of the goods with taxes and deductions, and the credit collects the amounts paid by customers when