Accounting for financial results. Accounting for the financial results of the organization Accounting for income and financial results at the enterprise

Nesterov A.K. Accounting for financial results // Encyclopedia of the Nesterovs

Accounting for financial results should be carried out in accordance with applicable law and accounting standards. For the correct, correct and timely accounting of financial results, including for the purpose of assessing the effectiveness of the economic activity of the enterprise, the accounting process must be properly adjusted at the enterprises.

Tasks of accounting for financial results

Accounting for financial results

The accounting system is based on systematic observations and registration of business transactions. The main tasks of accounting are presented in the diagram:

Accounting Tasks

Business operations related to the financial performance of the enterprise need special attention from the accounting department of the enterprise, being one of the indicators of the enterprise. It is also important from the point of view of organizing internal accounting of related indicators that affect the process of forming the financial result and the final assessment of the profitability of the economic activity of the enterprise.

In this section of accounting, accounting information is collected on the facts of economic activity in order to obtain reliable information about financial results, which depend on the determination of actual volumes. At the same time, the need to determine the financial result implies taking into account the dependence of business operations on their content and specific facts corresponding to ordinary and other income and expenses in the complex of the enterprise's economic activity.

Greetings! In this article, we will expand the concept of the financial result formula and talk about enterprise taxes. In general, we already know so much that we can draw conclusions, “play with information”. This is what we will do.

Financial result in accounting - a bit of theory

Let's start by recalling our financial result formula. This is how she looks.

Result = Revenue from activities (Income) - Expenses for the implementation of activities

• if Result > 0 then Profit
• if Result< 0, тогда Убыток.

This is a general formula in accounting terms. Now we will rewrite it using accounts. I suggest you do it yourself. Completion of this task is nothing more than a test of your understanding of the work of accounting and knowledge of basic accounting. Rewrite the previous formula using counts and then compare your answer with mine.

The formula that we have just successfully remembered shows the result of all the activities of the company. And we, of course, throughout a number of articles met mention that firms have primary and non-primary activities. What is it? And how is this reflected in the formula?

To begin with, let us recall the concepts of the main and non-main activities of the enterprise.

The main activity of the enterprise- these are activities (i.e. there may be more than one), which are indicated at the time of registration of the company. These are the activities on which the company plans to work and earn. There are many names of these activities, but they are all grouped into 4 types: trade in goods, production of products, performance of work, provision of services.

Accounting core business happens on the accounts:

• 90.1 - proceeds (income) from activities
• expenses/expenses on accounts - 90.2….90.8, 26, 44

Not main activity- these are situations in the enterprise as a result of which the enterprise receives income. Such income is taken into account on account 91.1. What could these situations be?

Several such situations we already know - this is the sale of materials and the sale of fixed assets. Initially, the sale of these goods and materials is not provided, since they are used for the operation of the enterprise itself. Therefore, when this happens, we attribute it to non-core activities and record everything through 91 accounts.

Another situation. The bank gave our company a loan. To do this, the bank opened a current account for us, into which the money was deposited. While the money is lying, i.e. our company does not immediately use everything, they accrue interest on the deposit. This accrued amount of interest on the deposit will be income for the company. and this income relates to non-core activities.

Another situation may be when the company receives penalties, fines from suppliers or buyers in case of violation of agreements on supply or payment.

In general, there are many different situations where the company receives income that relates to non-core activities. The variety of such situations is a matter of experience and study of the tax code, reading journals on accounting, consultations with auditors.

So, our formula for the financial result is divided into two: for main and non-main activities. Try to write them yourself, using 90 for the main activity, and 91 for the non-main one.

And where are the taxes in the financial result of accounting?

Let's deal with this issue. We know three groups of taxes:

• payroll taxes,
• profit taxes
• taxes that do not depend on profit (Property, Land, Transport, VAT, etc.)

Taxes from the payroll fund (PHOT)

To taxes from the wage fund, we include taxes to the Pension Fund (PFR), social insurance (FSS) and health insurance (FFOMS). These taxes are paid by the enterprise at its own expense and have every right to put them on costs / expenses. Therefore, taxes from the payroll are on the accounts of costs / expenses, namely 20, 23, 25, 26, 44. These taxes appear on the accounting accounts at the time of the “closing of the month” and provided that there is a salary for employees. Those. there is payroll for the current month. (there is a Credit Turnover on account 70)

Taxes that do not depend on income

Transport, Property and Land - these are the most common taxes. They are counted as expenses. But unlike payroll taxes recorded on expense/expense accounts (20, 25, 26, 44), these tax amounts immediately go to account 91.2.

Transport, Property and Land taxes are calculated quarterly. For each such tax, one posting is made once a quarter in Db 91.2 accounts with Kr 68.x (your own subaccount).

VAT tax, which is in the group of income-independent taxes, is accounted for differently. VAT is a tax for the fact that an extra charge is made on a product, product, service or work. VAT stands for - tax on added price. Those. the selling price of each product or service contains a certain amount of VAT (if, of course, the company is obliged to pay this tax). This amount of VAT, each time you complete the implementation, will go:

Profit

And this tax cannot be put into the formula of the financial result. This tax is the expense of the business itself, i.e. at your own expense. It must be paid as a result of successful activity.

Income tax is calculated after we determine the sign "Result". Remember the formula with which we started the article? If "Result" > 0 we have "Profit", and if less - then "Loss".

For every count, be it 90 ( primary activity) or 91 ( not main activity), the "result" is calculated. Then, through posting with account 99, this "Result" is transferred to account 99, and 90 and 91 accounts as a whole give a zero closing balance at the end of the period (this is the "month-end" mechanism).

It turns out from two types of activity (main and non-main), everything will be collected on account 99. Here is an example of how it looks when accounts 90 and 91 are collected (closed).

If account 99 shows PROFIT (KO 99 is greater than UP to 99), then "Income Tax" is taken from the difference between KO99-DO99.

The received amount of "Income Tax" is added by posting (accrued) to Debit 99. And after that, the net profit of the enterprise will remain on account 99. Those. PROFIT, after all Expenses (expenses themselves and basic taxes) and "Income Tax".

Financial result in accounting - primary documents

Summing up the financial result is called "closing the month." going on it's monthly in the following way:

• actions to collect all expenses (depreciation, closing 26, 25, 23, 20, 40, 44)
• calculation of taxes from the payroll fund (taxes with payroll)
• calculation of taxes that do not depend on profit (1 time per quarter) (Transport, Property, Land)
• final calculation of the financial result (closing 90 and 91 accounts. "rolling over the final figures by 99")
• accrual of income tax (1 time per quarter)

All the above steps, except for " calculation of taxes that do not depend on profit are made at the end of the month, at the time of the “Closing of the month”. And counting income-independent taxes", you need to do manual posting, until the "closing of the month", since these amounts affect the financial result. So they have to hit account 91 before it closes on account 99.

Additionally

You noticed that in the formula of the financial result, I wrote down the expenditure part like this [ 90.2….90.8 + 26, 44 ]. At the same time, I highlighted the cost accounts in bold. Noticed? I wanted to draw your attention to this and ask you a couple of questions. Which?

• why is there no 20 here, 25 counts when there are 26?
• why are these accounts singled out?

Let's take it in order.

Why is there no 20, 25 count when there is 26

The presence of 20 and 25 accounts is typical for manufacturing firms. And 26 accounts are available for all firms, except for trading ones. When the "closing of the month" procedure begins for manufacturing firms, then accounts 26 and 25 are closed at 20, and 20 closes at 40.

But 40, if there are deviations between the actual price from production and the planned price at which the products came to the warehouse, will partially go to expenses at 90.2 for the goods sold and at 43. Probably, a complex proposal has turned out. To fully understand it, it will be necessary to analyze production in detail. This is the task of other materials.

In manufacturing enterprises, in order to obtain the cost of production, all expenses are collected on account 20. And what gets into the formula of the financial result? Only the cost of goods sold at the time of its sale is included. As well as expenses from 44 accounts.

Then what does account 26 tell us about in the financial result formula? The presence of account 26, which transfers its amounts to account 90, is typical for firms providing services.

Why are these accounts highlighted in the formula?

Because these accounts do not exist in the formula! That's how! I wrote them so that you have an answer to the question “Where will the amounts from the accounts that store costs / expenses go and where will they end up?” These amounts will be in the financial result formula, but will be transferred there to the corresponding subaccounts.

Amounts from cost/expenditure accounts will be transferred to sub-accounts:

• 90.7 Selling costs. Amounts from 44 accounts will come here (production and trading activities, performance of work)
• 90.8 "Administrative expenses". Amounts from account 26 will come here (service activities)

With this, I will end this article. You just have to work it out, understand the patterns, basic situations and conditions. This knowledge is enough to think about how the posting made will affect the financial result of accounting each time you draw up the primary document.

Greetings. In this article, we will talk about providers. About those organizations without which our company could not work. To account for suppliers in accounting, there is a ......

Perhaps the topic of costs is one of the most important in the life of the company. Neither the owners of firms nor the tax inspectorate pay close attention to it. For some, extra costs - ......

The final operation for the reporting period in accounting is the determination of the financial result, the size of which always depends on the viability of the company. In a mathematical sense, it is represented by the result obtained from the difference between the income and costs of the company, and can be both positive, i.e. profit, and negative, i.e. loss. Let's figure out how the financial result is calculated in practice.

What is the result of the firm

This indicator depends on the volume of sales of goods / services, the productivity of the company's property, income from transactions not related to sales, and many other indicators. The financial result can be expressed as follows: the company receives either income or loss. Therefore, the activity of the enterprise is considered as:

• Profitable if the income received covers the costs incurred;
• Unprofitable, when the costs (production and other) exceed the income.

However, they begin to analyze the activities of the company, having already received the results of the work. We will consider how to calculate the financial result.

Financial result: formula

The result of the company's work in the period under review is displayed as revenue from the sale of the product produced, and the final financial result - as profit and net profit. It is on the size of net profit, which is the final result, that the economist is guided. The calculation is carried out in stages, since profit is an ambiguous concept and there are several types of it:

• Gross;
• From implementation;
• Before tax;
• Net.

Starting the calculation, the accountant operates with the following formulas:

1. Gross profit (VP) \u003d V pr - C rt, where V pr - sales proceeds, C rt - cost of goods sold;
2. Profit from sales (P r) = VP - KR - SD, where KR and SD - commercial / management costs;
3. Profit before tax (P don) \u003d P r + D in - R in, where D in and R in - operating / non-operating expenses and income;
4. Net profit (NP) \u003d P don - N, where N - taxes and tax liabilities.

How to determine the financial result in accounting

The calculation involves sales accounts (90), other income and expenses (91). The accountant monthly calculates the totals, summarizing the turnover on these accounts and transferring them to the effective profit and loss account - 99.

Account 90 is used to account for the results obtained from the main activities of the company. All operations are generated on it according to certain sub-accounts. The proceeds are accumulated on the loan account. 90/01. This amount is reduced by the generalized costs:

• Cost of goods sold (account 90/02);
• Costs from sales (account 90.07);
• Administrative expenses (90.08);
• VAT/excises (90.03);
• Customs fees if the company is engaged in export operations (90.05).

The results of the calculations are displayed on the sub-account 90.09. At the end of the monthly period, the amount is offset from the account. 99, and at the end of the year the entire account is reset to zero.

Accounting for the results obtained by the company from other activities is carried out on the account. 91. Similar incomes are accumulated according to K-tu account. 91/01. For example, these could be:

• Proceeds from leased property;
• Interest received on deposits placed in banks;
• Fines received on the company's accounts, paid by partners for obligations of various kinds, etc.

According to D-tu. 91/02 fix other non-production costs: fines, penalties, taxes accrued by regulatory authorities, penalties paid to counterparties and other costs.

At the end of the month, the result from the listed operations is calculated and displayed on the subaccount 91/09, and then corresponded with the account. 99 count. The account is closed at the end of the year.

On the account 99 net profit is calculated as the final result for all activities for the year. For K / that accounts reflect profit, for D / that - the total loss. In addition, account 99 is used to reflect extraordinary income and expenses, as well as tax sanctions and income tax.

Aggregated data are generated monthly on the account. 99. By comparing its turnovers, the amount of profit or loss, i.e., the financial result, is calculated. The credit balance reflects the amount of profit, and the debit balance reflects the loss. At the end of the year, the calculated balance 99 is transferred to the retained earnings account - 84, and all the specified accounts (90,91,99) are closed. This operation is called balance reformation.

The main accounting entries will be as follows:

financial accounting income synthetic

Making a profit is the main goal of the entrepreneurial activity of organizations engaged in all sectors of the national economy and regardless of the organizational and legal form. Profit is one of the varieties of financial result (the other is loss), which is formed on the accounts of sales and other income and expenses.

The formation of the financial result in accordance with the Chart of Accounts is carried out on the basis of the use of accounts 90 "Sales", 91 "Other income and expenses" and 99 "Profits and losses". The most important component is the financial result from ordinary activities, it is he who shows the results of the enterprise, with the help of which a decision is made whether to carry out this activity in the future.

Income from ordinary activities is the proceeds from the sale of products, works, services. Expenses for ordinary activities represent the cost of goods (works, services) sold. There are conditions for accepting income and expenses for accounting.

Revenue is taken into account when the following conditions are met at a time:

The entity has a right to the proceeds arising from the terms of the contract or otherwise evidenced;

The amount of proceeds can be determined;

There is confidence that as a result of a particular transaction, the economic benefits of the organization will increase;

The ownership of the goods (work, service) has passed to the buyer;

The amount of expenses associated with the income received must be determined.

If in relation to cash and other assets at least one of the conditions is not met, then the organization's accounting records are recognized as accounts payable, and not revenue.

Expenses are accepted for accounting under the following conditions:

Expenses are made in accordance with a specific contract or legal requirements;

The amount of expenses can be determined;

There is a certainty that as a result of a particular operation, the economic benefits of the organization will decrease.

If in relation to any expenses incurred by the organization, at least one of the named conditions is not fulfilled, then accounts receivable are recognized in accounting.

In accounting, income and expenses are recognized in the reporting period in which they occurred, regardless of the time of the actual payment of funds and other forms of implementation (the assumption of temporary certainty of the facts of economic activity). When forming the financial result (profit or loss), all types of income and expenses of the organization are reflected in accounting.

For the purposes of tax accounting, not all income received and not all expenses incurred by the organization are taken into account. This is due to the fact that the composition of costs included in the cost of production and taken into account when taxing profits is determined not by accounting rules, but by tax legislation. The composition of income and expenses taken into account and not taken into account when taxing profits is regulated by Ch. 25 "Corporate Income Tax" of the Tax Code of the Russian Federation. For the purposes of tax accounting, all income of an organization that is taken into account for the purposes of taxation of profits is divided into two main groups:

Income from sales;

non-operating income.

The composition of income from sales is determined by Art. 249 of the Tax Code of the Russian Federation, and the composition of non-operating income - Art. 250 of the Tax Code of the Russian Federation.

For the purposes of tax accounting, all expenses of the organization that are taken into account for the purposes of taxation of profits are also divided into two main groups:

Costs associated with production and sale;

non-operating expenses.

Production and distribution costs include:

Material costs;

Labor costs;

Amounts of accrued depreciation of fixed assets and intangible assets;

Other expenses related to production and sale.

The composition of the costs associated with the production and sale is determined by Art. 253 of the Tax Code of the Russian Federation, and the composition of non-operating expenses - Art. 265 of the Tax Code of the Russian Federation.

Account 90 “Sales” is intended to summarize information on 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, the revenue and cost of:

Finished products and semi-finished products of own production;

Works and services of an industrial nature;

Works and services of a non-industrial nature;

Purchased products (purchased for assembly);

Construction, installation, design and survey, geological exploration, research, etc. work;

Goods;

Services for the transportation of goods and passengers;

Forwarding and loading and unloading operations;

communication services;

Providing for a fee for temporary use (temporary possession and use) of their assets under a lease agreement (when this is the subject of the organization's activities);

Granting for a fee rights arising from patents for inventions, industrial designs and other types of intellectual property (when this is the subject of the organization's activities);

Participation in the authorized capital of other organizations (when this is the subject of the organization's activities), etc. .

Account 90 "Sales" is active-passive and financially effective as intended. During the year, account 90 collects data on the organization's income and expenses for ordinary activities.

To account 90, sub-accounts are opened:

90-1 “Revenue”, receipts of assets recognized as revenue are taken into account;

90-2 "Cost of sales", the cost of sales is taken into account;

90-3 "Value added tax", the amounts of value added tax due to be received from the buyer (customer) are taken into account;

90-4 "Excises", the amounts of excises included in the price of sold products (goods) are taken into account;

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

90-9 "Profit / loss on sales", is designed to identify the financial result (profit or loss) from sales for the reporting month.

You can open other sub-accounts, for example, for administrative expenses, commercial expenses for the period, etc. The structure of account 90 facilitates the preparation of form No. 2 of the Profit and Loss Statement, since reflects the main points of this report.

Entries on sub-accounts 90-1 "Revenue", 90-2 "Cost of sales",

90-3 "Value Added Tax", 90-4 "Excises" are made cumulatively during the reporting year. On a monthly basis, by comparing the total debit turnover on subaccounts 90-2 "Cost of sales", 90-3 "Value added tax", 90-4 "Excises" and the credit turnover on subaccount 90-1 "Revenue", the financial result (profit or loss) is determined from sales for the reporting month.

This financial result is monthly (final turnovers) deducted from sub-account 90-9 "Profit/loss from sales" to account 99 "Profit and loss". Thus, synthetic account 90 "Sales" has no balance on the reporting date.

Analytical accounting on account 90 “Sales” is maintained for each type of goods sold, products, work performed, services rendered, etc. In addition, analytical accounting on this account can be maintained by sales regions and other areas necessary for managing the organization.

Dt 62 Kt 90 - reflects the sale value of shipped goods, including VAT.

Dt 90 Kt 41 (43,44,20 ..) - the cost of goods sold (products, works, services) is written off.

At the end of each month, the sum of the debit turnover on subaccounts is compared with 90-2, 90-3, 90-4 with the credit turnover on the subaccount

90-1. The identified result represents the profit or loss on sales for the reporting period.

To reflect the financial result from sales, subaccount 90-9 “Profit / loss from sales” is used, the result of which is written off at the end of the reporting period to account 99 “Profit and loss”:

Dt 90-9 Kt 99 - the amount of profit for the reporting period is reflected;

Dt 99 Kt 90-9 - reflects the amount of loss received during the reporting period.

In addition to income and expenses associated with the ordinary activities of the organization, other income and expenses are also allocated. Accounting for other income and expenses, as well as the formation of the financial result on them, is carried out on account 91 “Other income and expenses”.

The structure and procedure for using account 91 “Other income and expenses” are similar to the structure and procedure for using account 90.

Three sub-accounts are opened for account 91:

91-1 "Other income";

91-2 "Other expenses";

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

At the end of each month, the debit turnover on subaccount 91-2 is compared with the credit turnover on subaccount 91-1.

The revealed result represents the profit or loss for the month.

Thus, the financial result from other activities is equal to the sum of other income (credit turnover for the reporting month on subaccount 91-1) minus the amount of other expenses (debit turnover on subaccount 91-2).

When forming the financial result on account 91 “Other income and expenses”, shortages and losses from damage to valuables in excess of the norms of natural loss should also be taken into account in the absence of guilty persons, as well as in cases where the court refuses to recover from the guilty persons due to the groundlessness of the claim. These losses are taken into account in the debit of account 91 “Other income and expenses” in correspondence with account 94 “Shortages and losses from damage to valuables”.

The financial result is written off at the end of the reporting month to account 99:

Dt 91-9 Kt 99 - the amount of profit for the month is reflected;

Dt 99 Kt 91-9 - reflects the amount of loss received per month.

Account 99 "Profit and Loss" is intended to summarize information on the formation of the final financial result of the organization's activities in the reporting year.

The final financial result (net profit or net loss) from the activities of the organization in the reporting period is made up of the financial result from ordinary activities, as well as other income and expenses.

Account 99 "Profit and Loss" is active - passive, its balance shows the cumulative total of the financial result obtained from the beginning of the year to the reporting period. 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 and shows the final financial result of the reporting period. The balance as the difference between the amounts of turnover can be debit (final financial result loss) or credit (profit). Income and expenses, profits and losses are recorded on an accrual basis from the beginning of the reporting year, therefore, account 99 reflects the dynamics of the process of making a profit.

Account 99 “Profit and Loss” during the reporting year reflects:

Profit or loss from ordinary activities in correspondence with account 90 "Sales":

Dt 90-9 Kt 99 - revealed profit from ordinary activities;

Dt 99 Kt 90-9 - a loss from ordinary activities was revealed.

The balance of other income and expenses for the reporting month - in correspondence with account 91 "Other income and expenses":

Dt 91-9 Kt 99 - revealed the financial result (profit) for other income and expenses;

Dt 99 Kt 91-9 - a loss has been identified.

Comparison of debit and credit turnover for the reporting period on account 99 "Profit and Loss" shows the final financial result of the reporting period.

Account 99 “Profit and Loss” during the reporting year also reflects accrued income tax payments 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”:

Dt 99 Kt 68 - income tax is accrued;

Dt 99 Kt 68 - reflects the amount of tax sanctions.

At the end of the reporting year, when compiling the annual financial statements, account 99 “Profit and Loss” is closed.

In this case, the final entry in December, the amount of net profit (loss) of the reporting year is debited from account 99 “Profit and Loss” to the credit (debit) of account 84 “Retained earnings (uncovered loss)”.

As a result, on account 99 “Profit and Loss”, the net profit of the organization is revealed - the basis for declaring dividends and other distribution of profits. Analytical accounting on account 99 should ensure the formation of the data necessary for compiling Form No. 2 of the Profit and Loss Statement.

The procedure for calculating net profit is carried out using RAS 18/02. In accordance with the PBU data on the debit of account 99 (posting Dt 99 Kt 68), the accountant does not reflect the entire amount of income tax generated in the tax return, but only a conditional income tax expense and a permanent tax liability. The amount of deferred tax assets is debited to account 09 of the same name and is reflected in the first section of the asset of form No. 1 of the Balance Sheet, and the amount of deferred tax liabilities is formed on the credit of account 77 and is reflected in the fourth section of the liability form No. 1.

Before compiling and submitting annual financial statements, each organization must reform the balance sheet, which consists in making final entries that contribute to the distribution of all profit received during the reporting year or write-off of the loss received during the reporting year.

The result of the reformation of the balance sheet is the closure of the accounts of the financial results of the reporting year.

As part of the balance sheet reform, accounts 90 “Sales” and 91 “Other income and expenses” are subject to closing by making internal entries on the sub-accounts of these accounts.

Closing at the end of the reporting year all sub-accounts opened to account 90 "Sales" (except for sub-account 90-9 "Profit/loss from sales").

Closing at the end of the year all sub-accounts opened to account 91 “Other income and expenses” (except for sub-account 91-9 “Balance of other income and expenses”) is carried out by internal entries to sub-account 91-9 “Balance of other income and expenses”.

As part of the balance sheet reformation, the final result of the organization's activities identified on account 99 "Profit and Loss" is to be credited to account 84 "Retained earnings (uncovered loss)".

At the beginning of a new reporting year, the amount of retained earnings (uncovered loss) of the completed reporting year is not shown in the balance sheet.

This amount is added to the amount of retained earnings or uncovered loss of previous years, accounted for on a separate sub-account, for example, on sub-account 84-2 “Retained earnings (uncovered loss) of previous years”. The net profit of the organization can be directed:

For the payment of dividends;

Formation of the reserve capital of the organization;

Coverage of losses of previous years.

Thus, in the first chapter of this course work, the theoretical aspects of accounting for financial results are considered. The main points of the formation of income and expenses associated with ordinary activities using account 90 "Sales" and using account 91 "Other income and expenses" are considered. Closing these accounts for the reporting period by writing them off to account 99 “Profit and Loss”; accrual of income tax, and then write-off at the end of the year of account 99 to account 84 "Retained earnings (uncovered loss)" Operations on tax liabilities using accounts 09 and 77 were also covered. All theoretical aspects of accounting for financial results were considered in order to carry out analysis of the current practice in LLC “Trading House “Ermak”

The concept of financial result

The financial result in accounting is formed on account 99 "Profit and Loss", which is active-passive. This account has either a credit or a debit balance. On a cumulative basis during the year, the debit 99 of the “Profit and Loss” account records losses and losses, and the credit, respectively, profits and incomes. By comparing the turnover on the debit and credit of account 99, the final financial result of the enterprise's activities for the reporting period is determined. The balance on credit 99 of the Profit and Loss account is a profit, and the debit balance is a loss.

The final financial result, that is, net profit or loss, is added up during the year on the 99th account "Profit and Loss" from the following components:

• profit or loss from ordinary activities;
• other expenses and income;
• losses, income and expenses due to emergency circumstances of activity;
• amounts of contingent expense accrued for income tax, permanent liabilities, payments for recalculations of income tax from actual profit, the amount of tax sanctions.

Ready-made works on a similar topic

• Course work Accounting for financial results 440 rub.
• abstract Accounting for financial results 220 rub.
• Test Accounting for financial results 220 rub.

Remark 1

The company receives most of the profit or loss from the sale of finished products, goods, services and works. The financial result from the sale is defined as the difference between the proceeds from the sale, excluding value added tax, excises, duties and other deductions, and the costs of production and sale. The costs associated with the production and sale of products affect the cost and their list is regulated.

Trading, marketing, supply companies calculate the result from the sale of goods by subtracting the purchase price and sales costs from the sale value, which relate to the goods sold for the reporting period.

Features of accounting for financial results

The cost of sales is reflected in the active-passive 90 account "Sales". The debit of this account includes the actual cost of goods sold, the purchase price of goods, expenses, VAT and other expenses. According to the credit of the specified account, proceeds from the sale of products, goods, services, and works are recorded. As a result of comparing the turnovers on debit and credit 90 of the “Sales” account, the result is determined, which is monthly written off from the 90th “Sales” account to the 99th “Profit and loss” account.

If a profit is made, then an accounting entry is made:

• Debit 90 "Sales"
• Loan 99 Profit and Loss.

If a loss is received, then this result is reflected in the entry:

• Debit 99 "Profit and Loss"
• Credit 90 "Sales".

Account 90 "Sales" is closed and has no balance.

All operating and non-operating income, as well as expenses, are reflected in 91 accounts “Other income and expenses”. Analytical accounting for 91 accounts is kept by types of non-operating and operating income and expenses.

Operating expenses and income recorded on account 91 “Other income and expenses” in accordance with RAS 9/99 and RAS 10/99 are:

• results from the sale of fixed assets, material assets, intangible assets, foreign currency;
• receipts due to participation in the authorized capital of third-party organizations;
• income and expenses from the rental of property;
• profit received as a result of joint activities.

The result of the sale or other disposal of fixed assets as a profit or loss is reflected in account 91 “Other income and expenses”. At the same time, the debit of account 91 of the sub-account “Other expenses” indicates the residual value of the fixed assets that have retired and the costs associated with the disposal, the amount of VAT received as part of the proceeds from the sale of fixed assets. On credit 91 of the sub-account “Other income”, the proceeds from the sale of fixed assets are indicated. The result is transferred to account 99 "Profit and Loss". If a profit is made, then a record is made:

• , sub-account "Balance of other income and expenses"
• Loan 99 Profit and Loss.

The resulting loss in accounting is reflected in the posting:

• Debit 99 "Profit and Loss"
• Credit 91 "Other income and expenses", sub-account "Balance of other income and expenses".

Remark 2

It should be noted that the loss resulting from the disposal of fixed assets does not reduce taxable income.

In accounting, the results obtained from the sale of other property of the enterprise are similarly reflected. Income from participation in other companies arises when the enterprise receives a part of the profits of other companies and dividends on shares that belong to the shareholder organization.

To date, it is possible to use two options for reflecting income from participation in other companies:

• on the actual receipt of funds;
• pre-charged on income accounts.

At the time of receipt of funds, accounting entries are made:

• Debett 51 "Settlement Accounts" or 52 "Currency Accounts"

At the end of the month, an entry is made:

• Debit 91 "Other income and expenses"
• Loan 99 Profit and Loss.

The amount of income receivable from contributions to the authorized capital of enterprises, and dividends are reflected in the entry:

• Debit 76 "Settlements with different debtors and creditors"
• Credit 91 "Other income and expenses".

At the end of the month, posting is carried out:

• Debit 91 "Other income and expenses"
• Loan 99 Profit and Loss.

Income payments are reflected in the posting:

• Debit 51 "Settlement accounts", 52 "Currency accounts"
• Loan 76 "Settlements with various debtors and creditors."

Operating expenses include amounts payable on taxes and fees. The accrual of taxes and fees is reflected in the accounting entry:

• Debit 91 "Other income and expenses"
• Credit 68 "Calculations on taxes and fees" (on sub-accounts).

Incomes that are received in the form of fines, penalties, forfeits are reflected in the entry:

• Debit 51 "Settlement account"
• Credit 91 "Other income and expenses".

The amounts of fines, penalties, forfeits accrued to the enterprise for violation of the terms of economic contracts are reflected in the entry:

• Debit 91 "Other income and expenses"
• Loan 60 “Settlements with suppliers and contractors”.

Remark 3

It should be noted that the amounts of sanctions are not included in non-operating expenses, reduce the profit of the enterprise, and are reflected in the accounting entry:

• Debit 99 "Use of profit"
• Loan 68 "Calculations on taxes and fees."

Positive or negative exchange rate differences arise as a result of recalculation at the current exchange rate of the Central Bank of the Russian Federation of currency in the bank on the accounts of the enterprise and settlements that are carried out in convertible currency.

Extraordinary income and expenses include receipts or expenses that arise as a result of extraordinary circumstances of the economic activity of the enterprise. They are accounted for on account 99 "Profit and Loss".

At the end of the reporting year, the final entries for December are the transfer of the amount of net profit or loss to account 84 “Retained earnings or uncovered loss”. The Profit and Loss account has no balance as of January 1 following the reporting year.

The amount of net profit of the reporting year is documented by posting:

• Debit 99 "Profit and Loss"
• Loan 84 "Retained earnings (uncovered loss)".

The amount of net loss of the reporting year is documented by posting:

• Debit 84 "Retained earnings (uncovered loss)"
• Loan 99 Profit and Loss.

In the year following the reporting year, net profit is distributed based on the decision of the general meeting of shareholders or participants. Net profit can be used to pay dividends, to compensate for losses from previous years and for other purposes.