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In 2011, by Order of the Ministry of Finance dated 02/02/2011. No. 11n was approved. Its introduction was due to an attempt to bring Russian accounting standards closer to international financial reporting standards (IFRS).

In accordance with paragraph 6 of PBU 21/2008, the accounting policy of the organization must ensure rational accounting, based on business conditions and the size of the organization (rationality requirement).

The indicators of the organization's cash flow statement are reflected in rublesRF.

The amount of cash flows in foreign currency is recalculated into rubles at the official exchange rate of this foreign currency to the ruble, established by the Central Bank of the Russian Federation on the date of payment or receipt

Note:The difference arising from recalculation cash flows of the organization and cash balances and cash equivalents in foreign currencies at rates for different dates, reflected in the cash flow statement separately from the current, investment and financial cash flows of the organization as the impact of changes in the foreign currency exchange rate against the ruble.

2. Cash flow statement indicators for the previous period.

The figures in the report for the previous year are transferred from the statement of cash flows for 2010, with adjustments for the purpose of comparability of data.

In accordance with, if the data for the period preceding the reporting period, incomparable with data for the reporting period, then the first of these data are subject to adjustment based on the rules established by regulatory acts on accounting. Each significant adjustment must be disclosed in the explanations to the balance sheet and profit and loss account together with an indication of the reasons causing this adjustment .

Those. cash flow statement data for 2010 needs to be adjusted:

reflect cash equivalents;
“pull out” the amounts of indirect taxes and show the balance of mutual settlements for them;
“curtail” turnovers that are not cash flows of the organization;

Make other changes that affect the comparability of indicators.

If adjusting last year's indicators is difficult, it is necessary to calculate the indicators based on accounting data for 2010 (which means, in fact, drawing up a new cash flow statement for 2010).

Note:When filling out the report, please remember that deductible or negative indicators are shown in the report in parentheses(Order of the Ministry of Finance dated July 2, 2010 No. 66n “On the forms of financial statements of the organization”).

3. Filling out the “Cash flows from current operations” section.

The section “cash flows from current operations” contains indicators characterizing the receipts and outflows of funds associated with the main activities of the organization (receipts from customers and payments to suppliers).

Also reflected in this section:

1. Income:

rent, license payments, royalties, commissions and other similar payments;
from interest on receivables from buyers (customers);
from resale of financial investments;
others (including positive final balance for VAT).

2. Payments:

on employee remuneration;
income tax;
interest on debt obligations (except for interest taken into account in the value of investment assets);
others (including negative final balance for VAT).

3. Balance of cash flows from current operations (receipts from current operations minus payments for current operations).

Note:In accordance with clause 12 of PBU 23/2011, the organization’s cash flows, which can not be clearly classified according topoints 8- 11 Provisions classified as cash flows from current operations.

INCOME FROM CURRENT OPERATIONS

Receipts - total(line 4110 ) - indicates the total amount of revenue from current operations (calculated as the sum of the lines 4111 -4119 ).

Including:

from the sale of products, goods, works and services(line 4111 ) - indicates the amount of cash and equivalents received to current accounts and to the organization's cash desk (as well as to accounts for cash equivalents) for goods, works, services sold (including commissions and agency fees).

These receipts are reflected in the accounting registers in the debit of the following accounts:

50 "Cashier";
51 “Current accounts”;
52 “Currency accounts”;

lease payments, license fees, royalties, commissions and other similar payments(line 4112 ) - indicates the amount of cash and equivalents received for lease payments, royalties, commissions and other similar payments.

These receipts are also reflected in the debit of accounts 50, 51, 52, 58, 76, minus the amounts:

indirect taxes (we deduct VAT amounts, except for VAT on refunds and amounts due to principals and principals);
received by agents, commission agents, intermediaries due for transfer to principals, principals, clients of intermediaries;
received as compensation for utility and other expenses incurred.

Note:If, when deducting the above amounts from the amount of receipts, negative result, then this amount should be reflected on the lines 4121 « to suppliers (contractors) for raw materials, materials, works, services” and/or 4129 "other payments".

from resale of financial investments(line 4113 ) - indicates the amount of cash received and equivalents for financial investments purchased for the purpose of resale in the short term (usually within three months).

Note:In accordance with clause 17 of PBU 23/2011, cash flows are reflected in the cash flow statement collapsed in cases where they are characterized by fast turnover, large amounts and short return periods.

Thus, receipts from financial investments are shown only in the amount of economic benefits received by the organization (the total amount of receipts minus the amounts spent on the acquisition of realized financial investments).

(lines 4114 - 4118 ) - the names of additional lines and the amounts of receipts corresponding to these names are indicated.

In additional lines, the accountant can reflect, taking into account the level of materiality, income from current activities that are not taken into account in the amounts of income on other lines.

Such receipts may be those receipts that cannot be unambiguously classified.

The amounts of these receipts are reflected according to the same principles as the amounts of receipts from sales in the line 4111 .

other supply(line 4119 ) - indicates the amount of other income from the current activities of organizations. Such receipts could be:

the amount of benefit from the sale/purchase of currency;
positive balance of VAT payments;
compensation amounts;
interest due on receivables from buyers (customers);
proceeds from the sale of other property (except for the sale of fixed assets);

The amounts of these receipts are reflected according to the same principles as the amounts of receipts from sales in the line 4111 .

Amounts of indirect taxes received by an organization from the budget (for example, VAT refunds) are reflected in this line “collapsed”.

PAYMENTS FOR CURRENT OPERATIONS

Payments - total(line 4120 ) - indicates the amount of payments for current transactions (calculated as the sum of the lines 4121 -4129 ). Indicators by line 4120 and by lines 4121-4129

Including:

to suppliers (contractors) for raw materials, materials, works, services(line 4121 ) - indicates the amount of payments to suppliers and contractors for received goods and materials, work and services related to the current activities of the organization.

50 "Cashier";
51 “Current accounts”;
52 “Currency accounts”;
58 “Financial investments” (in terms of accounting for cash equivalents related to financial investments);
76 “Settlements with various debtors and creditors” (in terms of accounting for other cash equivalents);

and are reflected in the statement of cash flows less the following amounts: in connection with the remuneration of employees(line 4122 ) - indicates the amount of payments related to the remuneration of employees of the organization (including payments for employees of organizations in favor of third parties).

These payments are reflected in the accounting registers on the credit of the following accounts:

50 "Cashier";
51 “Current accounts”;
52 “Currency accounts”;
58 “Financial investments” (in terms of accounting for cash equivalents related to financial investments);
76 “Settlements with various debtors and creditors” (in terms of accounting for other cash equivalents);

interest on debt obligations(line 4123 ) - indicates the amount of payments related to the payment of interest on debt obligations, with the exception of interest included in the cost of the investment asset.

income tax(line 4124 ) - indicates the amount of payments related to the payment of corporate income tax, including advance tax payments, with the exception of corporate income tax directly related to the organization’s investment or financial operations.

(lines 4125-4128 ) - the names of additional lines and the payment amounts corresponding to these names are indicated.

In additional lines, the accountant can reflect, taking into account the level of materiality, payments for current activities that are not taken into account in the amounts of payments on other lines.

Such payments may be payments that cannot be clearly classified.

The amounts of these payments are reflected on the same principles as the amounts of payments to suppliers and contractors for received goods and materials, works and services related to the current activities of the organization in the line 4121 .

other payments (line 4129 ) - indicates the amount of other payments related to the current activities of organizations. Such payments may be:

the amount of loss from the sale/purchase of currency;
the amount of loss received during the exchange of cash equivalents;
negative balance of payments (debt to the budget) for VAT;
penalties, fines and sanctions paid by the organization under agreements with counterparties.

The amounts of other payments are reflected on the same principles as the amounts of payments to suppliers and contractors for received inventory, work and services related to the current activities of the organization in the line 4121 .

Amounts of indirect taxes paid by an organization to the budget (for example, VAT) are reflected in this line “collapsed”.

Balance of cash flows from current operations(line 4100 ) - indicates the amount of the difference between receipts from current operations and payments for current operations.

Line 4100 = string 4110 - line 4120.

1. Filling out the “Cash flows from investment operations” section.

In this section, organizations reflect cash flows associated with investment activities - the acquisition, creation or disposal of non-current assets.

In accordance with paragraph 10 of PBU 23/2011, information on cash flows from investment operations shows users of the organization’s financial statements the level of the organization’s expenses incurred to acquire or create non-current assets that provide cash receipts in the future.

Examples of cash flows from investment transactions:

payments to suppliers (contractors) and employees of the organization in connection with the acquisition, creation, modernization, reconstruction and preparation for use of non-current assets, including costs of research, development and technological work;
payment of interest on debt obligations included in the value of investment assets in accordance with PBU 15/2008;
proceeds from the sale of non-current assets;
payments in connection with the acquisition of shares (participatory interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;
proceeds from the sale of shares (participatory interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;
providing loans to others;
repayment of loans provided to other persons;
payments in connection with the acquisition of debt securities (rights to claim funds against other persons), with the exception of financial investments acquired for the purpose of resale in the short term;
proceeds from the sale of debt securities (rights to claim funds against other persons), with the exception of financial investments acquired for the purpose of resale in the short term;
dividends and similar income from equity participation in other organizations;

receipts of interest on debt financial investments, with the exception of those acquired for the purpose of resale in the short term.

INCOME FROM INVESTMENT OPERATIONS

Receipts - total(line 4210 ) - indicates the total amount of income from investment operations (calculated as the sum of the lines 4211 -4219 )

Including:

from the sale of non-current assets (except financial investments)(line 4211 ) - indicates the amount of cash receipts and cash equivalents associated with the sale of non-current assets.

For example, proceeds from sales:

fixed assets;
intangible assets;
capital investments in non-current assets (including in the form of construction in progress);
R&D results.

These receipts are reflected in the accounting registers in the debit of the following accounts:

50 "Cashier";
51 “Current accounts”;
52 “Currency accounts”;
58 “Financial investments” (in terms of accounting for cash equivalents related to financial investments);
76 “Settlements with various debtors and creditors” (in terms of accounting for other cash equivalents);

and are reflected in the statement of cash flows less the following amounts:

indirect taxes (we deduct VAT amounts, except for VAT on refunds and amounts due to principals and principals);
received by agents, commission agents, intermediaries due for transfer to principals, principals, clients of intermediaries;
received as compensation for expenses incurred (transport, utilities, etc.).

from the sale of shares (participation interests) in other organizations(line 4212 ) - indicates the amount of proceeds from the sale of shares and shares in the authorized capital of other organizations.

from the return of loans provided, from the sale of debt securities (rights to claim funds against other persons) (line 4213 ) - the amount of receipts is indicated:

from returns of previously issued interest-bearing loans (excluding interest received);
from the sale of bills and bonds (excluding interest received);
from the assignment of previously acquired rights of claim to third parties.

dividends, interest on debt financial investments and similar income from equity participation in other organizations (line 4214 ) - indicates the amount of receipts of dividends, other types of payments in connection with equity participation in other organizations, as well as the amount of interest received on debt securities and loans provided to other organizations.

other supply(line 4219 ) - indicates the amount of other income related to the investment activities of the organization, for example - income from participation in joint activities.

PAYMENTS FOR INVESTMENT OPERATIONS

Payments - total(line 4220 ) - indicates the amount of payments for investment transactions (calculated as the sum of the lines 4221 -4229 ). Indicators by line 4220 and by lines 4221-4229 are indicated in parentheses.

Including:

in connection with the acquisition, creation, modernization, reconstruction and preparation for use of non-current assets (line 4221 ) - indicates the amount of payments to counterparties, as well as payments to employees of the organization related to operations for the acquisition, creation, modernization, reconstruction and preparation for use of non-current assets.

These payments are reflected in the accounting registers on the credit of the following accounts:

50 "Cashier";
51 “Current accounts”;
52 “Currency accounts”;
58 “Financial investments” (in terms of accounting for cash equivalents related to financial investments);
76 “Settlements with various debtors and creditors” (in terms of accounting for other cash equivalents);

and are reflected in the statement of cash flows less the following amounts:

indirect taxes (we deduct the amounts of VAT paid, except for VAT on refunds and VAT related to principals and principals);
amounts paid by agents, commission agents, intermediaries, due for transfer to principals, principals, clients of intermediaries;
reimbursable expenses (transport, utilities, etc.).

in connection with the acquisition of shares (participatory interests) in other organizations(line 4222 ) - indicates the amount of payments associated with the acquisition of shares and shares in the authorized capital of other organizations.

in connection with the acquisition of debt securities (rights to claim funds against other persons), provision of loans to other persons (line 4223 ) - indicates the amount of payments sent:

to provide interest-bearing loans;
for the purchase of bills and bonds;
on acquired rights of claim against third parties.

interest on debt obligations included in the cost of an investment asset(line 4224 ) - indicates the amount of interest paid related to the increase in the value of the investment asset.

other payments(line 4229 ) - the amount of payments is indicated:

on income tax from investment transactions (if it is possible to determine it correctly);
directed towards contributions to joint activities;
other payments related to the organization’s investment operations.

Balance of cash flows from investment operations(line 4200 ) - indicates the amount of the difference between receipts from investment operations and payments for investment operations.

Line 4200 = string 4210 - line 4220.

If the result is negative, it is indicated in parentheses.

EXAMPLE OF COMPLETING A CASH FLOW REPORT sheet 1.

1. Filling out the “Cash flows from financial transactions” section.

The section “Cash flows from financial transactions” reflects the amounts of cash flows associated with raising financing on a debt or equity basis.

Such operations entail changes in structure and size:

capital of the organization;
borrowed funds of the organization.

Examples of cash flows from financial transactions:

cash contributions from owners (participants), proceeds from the issue of shares, increases in participation interests;
payments to owners (participants) in connection with the repurchase of shares (participatory interests) of the organization from them or their withdrawal from membership;
payment of dividends and other payments for the distribution of profits in favor of owners (participants);
proceeds from the issue of bonds, bills and other debt securities;
payments in connection with the redemption (redemption) of bills and other debt securities;
obtaining loans and borrowings from other persons;
return of loans and borrowings received from other persons.

INCOME FROM FINANCIAL TRANSACTIONS

Receipts - total(line 4310 ) - indicates the total amount of income from financial transactions (calculated as the sum of the lines 4311 -4319 )

Including:

obtaining credits and loans(line 4311 ) - indicates the amount of receipts of cash and cash equivalents as loans and borrowings (including receipts from interest-free loans).

cash deposits of owners (participants)(line 4312 ) - indicates the amount of monetary contributions of the owners (participants) of the organization that do not lead to an increase in participation shares.

from issuing shares, increasing participation shares(line 4313 ) - indicates the amount of receipts received as payment:

shares of the organization (by its shareholders);
shares in the authorized capital of the organization (by its founders);
additionally placed shares;
additional cash deposits leading to an increase in the share of participation.

from the issue of bonds, bills and other debt securities, etc.(line 4314 ) - the amount of receipts from payment is indicated:

bills issued by the organization;
bond issues;
other debt securities.

other supply(line 4319 ) - indicates the amount of other income related to the financial operations of the organization.

PAYMENTS FOR FINANCIAL TRANSACTIONS

Payments - total(line 4320 ) - indicates the amount of payments for financial transactions (calculated as the sum of the lines 4321 -4329 ). Indicators by line 4320 and by lines 4321-4329 are indicated in parentheses.

Including:

owners (participants) in connection with the repurchase of shares (participatory interests) of the organization from them or their withdrawal from the membership (line 4321 ) - the amount of payments is indicated:

the actual value of the share (part of the share) to the participant/his creditors/heirs/legal successors;
for own shares purchased from shareholders (their creditors, heirs, assigns).

for the payment of dividends and other payments for the distribution of profits in favor of the owners (participants)(line 4322 ) - indicates the amount of actual payments of dividends and other amounts related to the distribution of profits in favor of the owners (participants).

in connection with the repayment (redemption) of bills and other debt securities, repayment of loans and borrowings(line 4323 ) - indicates the amount of payments aimed at repaying debt obligations (credits, borrowings, own bills and other debt securities) with the exception of the amounts of interest paid.

other payments(line 4329 ) - indicates the amount of other payments related to the financial transactions of the organization. This line may reflect, for example, lease payments paid by the organization.

Balance of cash flows from financial transactions(line 4300 ) - indicates the amount of the difference between receipts from financial transactions and payments for financial transactions.

Line 4300 = string 4310 - line 4320.

If the result is negative, it is indicated in parentheses.

1. Resulting data.

Balance of cash flows for the reporting period(line 4400 ) - indicates the amount obtained by adding:

Balance of cash flows from current operations (line 4100 );
Balance of cash flows from investment operations (line 4200 );
Balance of cash flows from financial transactions (line 4300 );

Line 4400 = String 4100 + String 4200 + String 4300 .

If the result is negative, it is indicated in parentheses.

Balance of cash and cash equivalents at the beginning of the reporting period(line 4450 ) - indicates the amount of the balance of cash and cash equivalents at the beginning of the year.

This indicator must be linked to the indicator of balance sheet line 1250 “Cash and cash equivalents” at the beginning of the year. If these amounts are not equal, then it is necessary to decipher and explain the deviations that have arisen.

Balance of cash and cash equivalents at the end of the reporting period(line 4500 ) - indicates the amount of cash balance and cash equivalents at the end of the year.

This indicator should be linked to the indicator of balance sheet line 1250 “Cash and cash equivalents” at the end of the year. If these amounts are not equal, then it is necessary to decipher and explain the deviations that have arisen.

The magnitude of the impact of changes in foreign currency exchange rates against the ruble(line 4490 ) - indicates the “collapsed” total amount of exchange rate differences arising in connection with the conversion of foreign currency funds and equivalents into rubles.

The amount of the difference is determined as follows:

The magnitude of the impact of changes in the exchange rate of foreign currency against the ruble = the total amount of positive exchange rate differences for the reporting year - the total amount of negative exchange rate differences for the reporting year.

If the result is negative, it is indicated in parentheses.

Data for determining the final balance for exchange rate differences are reflected in accounting account 91 “other income and expenses.”

EXAMPLE OF COMPLETING A CASH FLOW REPORT sheet 2.

1. Accounting policy.

The following information must be reflected in the organization's accounting policies for accounting purposes.

"Tax Bulletin", 2011, N 6

The Ministry of Finance of Russia, by Order No. 11n dated 02.02.2011, approved another Accounting Regulation - PBU 23/2011 “Cash Flow Statement”. The adoption of this document is associated with the use of new forms of accounting statements since 2011 in accordance with Order of the Ministry of Finance of Russia dated 07/02/2010 N 66n, and as a result, with the need to establish rules for the preparation and generation of cash flow statements, which are enshrined in the new PBU 23/2011.

PBU 23/2011 notes that the cash flow statement is included in the financial statements of the organization. This document is a summary of information about cash and highly liquid financial investments that can be easily converted into a known amount of cash and are subject to an insignificant risk of changes in value (cash equivalents). Cash equivalents may include, for example, demand deposits opened with credit institutions.

Thus, the cash flow statement reflects the organization's payments and receipts of cash and cash equivalents (the organization's cash flows), as well as the balances of cash and cash equivalents at the beginning and end of the reporting period.

Cash flows of the organization

According to PBU 23/2011, the organization’s cash flows are not:

payments of funds associated with investing them in cash equivalents;
cash receipts from the repayment of cash equivalents (excluding accrued interest);
foreign exchange transactions (excluding losses or gains from the transaction);
exchange of some cash equivalents for other cash equivalents (excluding losses or gains from the transaction);
other similar payments and receipts to the organization that change the composition of cash or cash equivalents, but not their total amount, incl. receiving cash from a bank account, transferring funds from one organization account to another account.

PBU 23/2011 also stipulates that all cash flows of an organization are divided into flows from current, investment and financial operations.

Cash flows from current operations are understood as cash flows from operations associated with the organization's ordinary activities that generate revenue. Cash flows from current operations are usually associated with the formation of profit (loss) of the organization from sales.

PBU 23/2011 stipulates that information on cash flows from current operations shows users of financial statements the level of provision of the organization with funds sufficient to repay loans, maintain activities at the level of existing production volumes, pay dividends and new investments without attracting external sources of financing. Information about the composition of cash flows from current operations in prior periods, combined with other information presented in the financial statements, provides the basis for forecasting future cash flows from current operations.

Specific examples of cash flows from current operations are:

proceeds from the sale of products and goods to buyers (customers), performance of work, provision of services;
receipts of rental payments, royalties, commissions and other similar payments;
payments to suppliers (contractors) for raw materials, materials, works, services;
remuneration of the organization’s employees, as well as payments in their favor to third parties;
payments of corporate income tax (except for cases where corporate income tax is directly related to cash flows from investment or financial transactions);
payment of interest on debt obligations, with the exception of interest included in the cost of investment assets in accordance with PBU 15/2008;
receipt of interest on receivables from buyers (customers);
cash flows on financial investments purchased for the purpose of resale in the short term (usually within three months).

In turn, the organization's cash flows from operations related to the acquisition, creation or disposal of non-current assets are classified as cash flows from investment transactions. Thus, information on cash flows from investment transactions shows users of the organization’s financial statements the level of the organization’s expenses incurred to acquire or create non-current assets that provide cash flows in the future. Examples of cash flows from investment transactions are:

payments to suppliers (contractors) and employees of the organization in connection with the acquisition, creation, modernization, reconstruction and preparation for use of non-current assets, incl. costs of research, development and technological work;
payment of interest on debt obligations included in the cost of investment assets in accordance with PBU 15/2008 “Accounting for expenses on loans and credits”, approved. By Order of the Ministry of Finance of Russia dated October 6, 2008 N 107n;
proceeds from the sale of non-current assets;
payments in connection with the acquisition of shares (participatory interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;
proceeds from the sale of shares (participatory interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;
providing loans to others;
repayment of loans provided to other persons;
payments in connection with the acquisition of debt securities (rights to claim funds against other persons), with the exception of financial investments acquired for the purpose of resale in the short term;
proceeds from the sale of debt securities (rights to claim funds against other persons), with the exception of financial investments acquired for the purpose of resale in the short term;
dividends and similar income from equity participation in other organizations;
receipts of interest on debt financial investments, with the exception of those acquired for the purpose of resale in the short term.

As can be seen from the above list of possible options for cash flows from investment operations, it is much broader than the initial definition of investment flows. For example, the provision and repayment of loans to other persons or payments (receipts) in connection with the acquisition (sale) of debt securities are in no way related to the acquisition or creation of non-current assets.

Further, PBU 23/2011 defines cash flows from financial transactions. Thus, cash flows from transactions related to the organization’s attraction of financing on a debt or equity basis, leading to a change in the amount and structure of its capital and borrowed funds, are classified as cash flows from financial transactions. Examples in this case are:

cash contributions from owners (participants), proceeds from the issue of shares, increases in participation interests;
payments to owners (participants) in connection with the repurchase of shares (participatory interests) of the organization from them or their withdrawal from membership;
payment of dividends and other payments for the distribution of profits in favor of owners (participants);
proceeds from the issue of bonds, bills and other debt securities;
payments in connection with the redemption (redemption) of bills and other debt securities;
obtaining loans and borrowings from other persons;
return of loans and borrowings received from other persons.

The given list of examples of cash flows from the financial transactions of an organization specifies the very concept of such flows. At the same time, a controversial point is the duality of classifying borrowed funds, which simultaneously relate to investment (provision and repayment of loans) and financial cash flows (receipt and repayment of loans and borrowings).

PBU 23/2011 also notes that cash flows of an organization that cannot be clearly classified as current, investing or financial are classified as cash flows from current operations. In this case, payments and receipts from one transaction may relate to different types of cash flows. For example, payment of interest is cash flow from current operations, and repayment of principal is from financial. When repaying a loan in cash, both of these parts can be paid in one amount. In this case, the organization divides a single amount into appropriate parts, followed by separate classification of cash flows and their separate reflection in the cash flow statement.

In general, each significant type of cash and cash equivalents received by an organization is reflected in the cash flow statement separately from the organization's payments. However, cash flows are reflected in the cash flow statement on a net basis in cases where they characterize the activities not so much of the organization as of its counterparties, and (or) when receipts from some persons determine corresponding payments to other persons. Examples of such cash flows are:

cash flows of a commission agent or agent in connection with the provision of commission or agency services (except for fees for the services themselves);
indirect taxes as part of receipts from buyers and customers, payments to suppliers and contractors, and payments to or reimbursement from the Russian budgetary system;
receipts from the counterparty for reimbursement of utility bills and making these payments in rental and other similar relationships;
payment for transportation of goods with receipt of equivalent compensation from the counterparty.

According to PBU 23/2011, cash flows are reflected in the cash flow statement on a collapsed basis in cases where they are characterized by rapid turnover, large amounts and short repayment periods. Examples of such cash flows are:

mutually determined payments and receipts for settlements using bank cards;
purchase and resale of financial investments;
making short-term (usually up to three months) financial investments using borrowed funds.

It is quite natural that the indicators of the organization’s cash flow statement are reflected in Russian rubles. The amount of cash flows in foreign currency is recalculated into rubles at the official exchange rate of this foreign currency to the ruble, established by the Central Bank of the Russian Federation on the date of payment or receipt. If there is an insignificant change in the official exchange rate of a foreign currency to the ruble, established by the Central Bank of the Russian Federation, conversion into rubles associated with a large number of similar transactions in such foreign currency can be carried out at the average rate calculated for a month or a shorter period. At the same time, PBU 23/2011 does not specify the concept of an insignificant change in the official foreign exchange rate, which may cause different interpretations of this concept and, as a result, the emergence of controversial situations. In addition, PBU 23/2011 does not have a mechanism for calculating the average foreign currency exchange rate. In practice, these controversial points should be clearly characterized and defined in the accounting policy or in an appendix to it.

If, immediately after receiving an amount in foreign currency, an organization, as part of its normal activities, changes the received amount of foreign currency into rubles, then the cash flow is reflected in the cash flow statement in the amount of rubles actually received without intermediate conversion of foreign currency into rubles. If, shortly before a payment in foreign currency, an organization, as part of its normal activities, exchanges rubles for the required amount of foreign currency, then the cash flow is reflected in the cash flow statement in the amount of rubles actually paid without intermediate conversion of foreign currency into rubles. At the same time, PBU 23/2011 does not contain definitions of the concepts “immediately” and “shortly”, i.e. There is no exact number of days or hours during which the conversion of foreign currency into rubles is not required, and the very concepts of “immediately” and “shortly” leave room for interpretation.

Other features of PBU 23/2011

Balances of cash and cash equivalents in foreign currency at the beginning and end of the reporting period are reflected in the cash flow statement in rubles in the amount determined in accordance with the rules of PBU 3/2006 “Accounting for assets and liabilities, the value of which is expressed in foreign currency” , approved By Order of the Ministry of Finance of Russia dated November 27, 2006 N 154n. In turn, the difference arising in connection with the recalculation of the organization’s cash flows and cash balances and cash equivalents in foreign currencies at rates on different dates is reflected in the cash flow statement separately from current, investment and financing cash flows as the impact of changes in the foreign exchange rate currency against the ruble.

PBU 23/2011 notes that an organization discloses in its accounting policies the approaches it uses for separating cash equivalents from other financial investments, for classifying cash flows that are not directly designated as current, investment or financial, for recalculating cash flows in foreign currency into rubles currency, for a summarized presentation of cash flows, as well as other explanations necessary to understand the information presented in the statement of cash flows. Thus, PBU 23/2011 allows the organization, through the accounting policy being formed, to independently determine those concepts and criteria that are missing or not specified in this PBU.

In addition, the organization in the cash flow statement discloses the opportunities available as of the reporting date to raise additional funds, including:

the amount of credit lines opened by the organization but not used by it, indicating the established restrictions on the use of such credit resources (including the amount of mandatory minimum (irreducible) balances);
the amount of funds that can be received by the organization on overdraft terms;
guarantees received by the organization from third parties that were not used as of the reporting date to obtain a loan, indicating the amount of funds that the organization can attract;
the amount of loans (credits) not received as of the reporting date under concluded loan agreements (credit agreements) indicating the reasons for such shortfall.

In addition, the organization discloses the following information in its financial statements, taking into account materiality:

available significant amounts of cash (or cash equivalents) that, as of the reporting date, are not available for use by the organization (for example, letters of credit opened in favor of other organizations for transactions not completed at the reporting date) indicating the reasons for these restrictions;
the amount of cash flows associated with maintaining the organization’s activities at the level of existing production volumes, separately from cash flows associated with expanding the scale of these activities;
cash flows from current, investment and financial operations for each reportable segment, determined in accordance with PBU 12/2010 "Information by segments", approved. By Order of the Ministry of Finance of Russia dated November 8, 2010 N 143n;
funds in letters of credit opened in favor of the organization, along with information about the fact that the organization fulfilled its obligations under the agreement using the letter of credit as of the reporting date. If the obligations under an agreement using a letter of credit are fulfilled by an organization, but the funds of the letter of credit are not credited to its current or other account, then the reasons and amounts of non-credited funds are disclosed.

In general, PBU 23/2011 “Cash Flow Statement” is a necessary document regulating the general procedure for generating the corresponding report. However, in the process of studying the PBU, it was revealed that some of the wording of this document was not specified. Therefore, the organization in its accounting policy must clarify the procedure for applying the norms of PBU 23/2011, which do not have clear parameters, i.e. independently specify them, for example, the concepts “immediately” and “shortly”.

PBU 23/2011 comes into force starting from the financial statements for 2011, i.e. its rules when drawing up a cash flow statement must be followed already this year.

M. Bespalov

chief accountant's assistant

TSU named after G.R.Derzhavina

Ministry of Finance of the Russian Federation

ORDER

ON APPROVAL OF THE REGULATIONS

ON ACCOUNTING "CASH FLOW STATEMENT"

(PBU 23/2011)

In order to improve legal regulation in the field of accounting and financial reporting and in accordance with the Regulations on the Ministry of Finance of the Russian Federation, approved by Decree of the Government of the Russian Federation of June 30, 2004 N 329 (Collected Legislation of the Russian Federation, 2004, N 31, Art. 3258; N 49, Art. 4908; 2005, N 23, Art. 2270; N 52, Art. 5755; 2006, N 32, Art. 3569; N 47, Art. 4900; 2007, N 23, Art. 2801 ; N 45, Art. 5491; 2008, N 5, Art. 411; N 46, Art. 5337; 2009, N 3, Art. 378; N 6, Art. 738; N 8, Art. 973; N 11, Art. 1312; N 26, Art. 3212; N 31, Art. 3954; 2010, N 5, Art. 531; N 9, Art. 967; N 11, Art. 1224; N 26, Art. 3350; N 38 , Art. 4844; 2011, N 1, Art. 238), I order:

1. Approve the attached Accounting Regulations “Cash Flow Statement” (PBU 23/2011).

2. Establish that this Order comes into force starting from the financial statements for 2011.

Deputy

Chairman of the Government

Russian Federation -

Minister of Finance

Russian Federation

A.L.KUDRIN

Approved

By order of the Ministry of Finance

Russian Federation

dated 02.02.2011 N 11n

Accounting Regulations "Cash Flow Statement" (PBU 23/2011)

I. General provisions

1. These Regulations establish the rules for drawing up cash flow statements by commercial organizations (with the exception of credit organizations) that are legal entities under the laws of the Russian Federation (hereinafter referred to as organizations).

2. These Regulations apply to the preparation of a cash flow report in cases where the preparation, and (or) presentation, and (or) publication of this report are provided for by the legislation of the Russian Federation or regulations, and also when the organization voluntarily decided to submit and (or) publication of such a report.

This Regulation does not apply when compiling an organization’s reporting for internal purposes, reporting compiled for state statistical observation, reporting information submitted to a credit organization in accordance with its requirements, and reporting information for other special purposes, if the rules for compiling such reporting and information do not provide for application of this Regulation.

3. The cash flow statement is part of the organization’s financial statements.

4. The cash flow statement is drawn up on the basis of the general requirements for the organization’s financial statements established by regulatory legal acts on accounting, and the requirements established by these Regulations.

5. The cash flow statement is a summary of data on cash, as well as highly liquid financial investments that can be easily converted into a known amount of cash and which are subject to an insignificant risk of changes in value (hereinafter referred to as cash equivalents). Cash equivalents may include, for example, demand deposits opened with credit institutions.

6. The cash flow statement reflects the organization’s payments and receipts of cash and cash equivalents to the organization (hereinafter referred to as the organization’s cash flows), as well as the balances of cash and cash equivalents at the beginning and end of the reporting period.

The organization's cash flows are not:

a) payments of funds related to their investment in cash equivalents;

b) cash receipts from the repayment of cash equivalents (excluding accrued interest);

c) foreign exchange transactions (excluding losses or benefits from the transaction);

d) exchange of some cash equivalents for other cash equivalents (excluding losses or benefits from the transaction);

e) other similar payments to the organization and receipts to the organization that change the composition of cash or cash equivalents, but do not change their total amount, including receiving cash from a bank account, transferring funds from one account of the organization to another account of the same organization.

Accounting Regulations
Cash flow statement
PBU 23/2011

Approved
By order of the Ministry of Finance of the Russian Federation
dated 02.02.2011 No. 11n

I. General provisions

3. The cash flow statement is part of the organization’s financial statements.

The organization's cash flows are not:

a) payments of funds related to their investment in cash equivalents;

b) cash receipts from the repayment of cash equivalents (excluding accrued interest);

c) foreign exchange transactions (excluding losses or benefits from the transaction);

d) exchange of some cash equivalents for other cash equivalents (excluding losses or benefits from the transaction);

II. Cash flow classification

7. The organization's cash flows are divided into cash flows from current, investment and financial operations.

8. An organization's cash flows are classified depending on the nature of the transactions with which they are associated, as well as on how information about them is used to make decisions by users of the organization's financial statements.

9. An organization's cash flows from transactions related to the organization's ordinary activities that generate revenue are classified as cash flows from current operations. Cash flows from current operations are usually associated with the formation of profit (loss) of the organization from sales.

Information on cash flows from current operations shows users of the organization's financial statements the level of provision of the organization with funds sufficient to repay loans, maintain the organization's activities at the level of existing production volumes, pay dividends and new investments without attracting external sources of financing. Information about the composition of cash flows from current operations in previous periods, combined with other information presented in the entity's financial statements, provides the basis for forecasting future cash flows from current operations.

Examples of cash flows from current operations are:

a) receipts from the sale of products and goods to buyers (customers), performance of work, provision of services;

b) receipts of rental payments, royalties, commissions and other similar payments;

c) payments to suppliers (contractors) for raw materials, materials, work, services;

d) remuneration of the organization’s employees, as well as payments in their favor to third parties;

e) payments of corporate income tax (except for cases where corporate income tax is directly related to cash flows from investment or financial transactions);

f) payment of interest on debt obligations, with the exception of interest included in the cost of investment assets in accordance with the Accounting Regulations “Accounting for expenses on loans and credits” (PBU 15/2008), approved by the Order of the Ministry of Finance of the Russian Federation dated October 6, 2008 No. 107n (registered with the Ministry of Justice of the Russian Federation on October 27, 2008, registration number 12523) as amended by Orders of the Ministry of Finance of the Russian Federation dated October 25, 2010 No. 132n (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration number 19048), dated November 8, 2010 No. 144n (registered with the Ministry of Justice of the Russian Federation on December 1, 2010, registration number 19088) (hereinafter referred to as PBU 15/2008);

g) receipt of interest on receivables from buyers (customers);

h) cash flows on financial investments acquired for the purpose of resale in the short term (usually within three months).

10. Cash flows of an organization from transactions related to the acquisition, creation or disposal of non-current assets of the organization are classified as cash flows from investment transactions.

Information on cash flows from investment transactions shows users of the organization's financial statements the level of the organization's expenses incurred to acquire or create non-current assets that provide cash flows in the future.

Examples of cash flows from investment transactions are:

a) payments to suppliers (contractors) and employees of the organization in connection with the acquisition, creation, modernization, reconstruction and preparation for use of non-current assets, including costs of research, development and technological work;

b) payment of interest on debt obligations included in the value of investment assets in accordance with PBU 15/2008;

c) proceeds from the sale of non-current assets;

d) payments in connection with the acquisition of shares (participatory interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;

e) proceeds from the sale of shares (participatory interests) in other organizations, with the exception of financial investments acquired for the purpose of resale in the short term;

f) providing loans to other persons;

g) repayment of loans provided to other persons;

h) payments in connection with the acquisition of debt securities (rights to claim funds against other persons), with the exception of financial investments acquired for the purpose of resale in the short term;

i) proceeds from the sale of debt securities (rights to claim funds against other persons), with the exception of financial investments acquired for the purpose of resale in the short term;

j) dividends and similar income from equity participation in other organizations;

k) receipts of interest on debt financial investments, with the exception of those acquired for the purpose of resale in the short term.

11. An organization’s cash flows from operations related to the organization’s attraction of financing on a debt or equity basis, leading to a change in the size and structure of the organization’s capital and borrowings, are classified as cash flows from financial transactions.

Information about cash flows from financial transactions provides the basis for forecasting the claims of creditors and shareholders (participants) in relation to the organization's future cash flows, as well as the organization's future needs for raising debt and equity financing.

Examples of cash flows from an organization's financial transactions are:

a) cash contributions from owners (participants), proceeds from the issue of shares, increase in participation shares;

b) payments to owners (participants) in connection with the repurchase of shares (participatory interests) of the organization from them or their withdrawal from the membership;

c) payment of dividends and other payments for the distribution of profits in favor of the owners (participants);

d) proceeds from the issue of bonds, bills and other debt securities;

e) payments in connection with the redemption (redemption) of bills and other debt securities;

f) receiving credits and loans from other persons;

g) return of credits and loans received from other persons.

12. Cash flows of an organization that cannot be clearly classified in accordance with paragraphs 8 - 11 of these Regulations are classified as cash flows from current operations.

13. Payments and receipts from one transaction may refer to different types of cash flows. For example, payment of interest is cash flow from current operations, and repayment of principal is cash flow from financing operations. When repaying a loan in cash, both of these parts can be paid in one amount. In this case, the organization divides a single amount into appropriate parts, followed by separate classification of cash flows and their separate reflection in the cash flow statement.

III. Reflection of cash flows

14. The organization's cash flows are reflected in the cash flow statement, subdivided into cash flows from current, investment and financial operations.

15. Each significant type of income to the organization of cash and (or) cash equivalents is reflected in the cash flow statement separately from the organization’s payments, unless otherwise provided by these Regulations.

16. Cash flows are reflected in the cash flow statement on a consolidated basis in cases where they characterize not so much the activities of the organization as the activities of its counterparties, and (or) when receipts from some persons determine corresponding payments to other persons. Examples of such cash flows are:

a) cash flows of a commission agent or agent in connection with the provision of commission or agency services (except for fees for the services themselves);

b) indirect taxes as part of receipts from buyers and customers, payments to suppliers and contractors and payments to the budget system of the Russian Federation or reimbursement from it;

c) receipts from the counterparty for reimbursement of utility bills and making these payments in rental and other similar relationships;

d) payment for transportation of goods with receipt of equivalent compensation from the counterparty.

17. Cash flows are reflected in the cash flow statement on a consolidated basis in cases where they are characterized by rapid turnover, large amounts and short repayment periods. Examples of such cash flows are:

a) mutually determined payments and receipts for settlements using bank cards;

b) purchase and resale of financial investments;

c) making short-term (usually up to three months) financial investments using borrowed funds.

18. The indicators of the organization’s cash flow statement are reflected in the currency of the Russian Federation - rubles.

The amount of cash flows in foreign currency is converted into rubles at the official exchange rate of this foreign currency to the ruble, established by the Central Bank of the Russian Federation on the date of payment or receipt. If there is an insignificant change in the official exchange rate of a foreign currency to the ruble, established by the Central Bank of the Russian Federation, conversion into rubles associated with the performance of a large number of similar transactions in such foreign currency can be carried out at the average rate calculated for a month or a shorter period.

If, immediately after receiving foreign currency, an organization, as part of its normal activities, changes the received amount of foreign currency into rubles, then the cash flow is reflected in the cash flow statement in the amount of rubles actually received without intermediate conversion of foreign currency into rubles. If, shortly before a payment in foreign currency, an organization, as part of its normal activities, exchanges rubles for the required amount of foreign currency, then the cash flow is reflected in the cash flow statement in the amount of rubles actually paid without intermediate conversion of foreign currency into rubles.

19. Balances of cash and cash equivalents in foreign currency at the beginning and end of the reporting period are reflected in the cash flow statement in rubles in the amount that is determined in accordance with the Accounting Regulations “Accounting for assets and liabilities, the value of which is expressed in foreign currency "(PBU 3/2006), approved by Order of the Ministry of Finance of the Russian Federation dated November 27, 2006 No. 154n (registered with the Ministry of Justice of the Russian Federation on January 17, 2007, registration number 8788), as amended by Orders of the Ministry of Finance of the Russian Federation dated December 25, 2007 No. 147n (registered with the Ministry of Justice of the Russian Federation on January 28, 2008, registration number 11007), dated October 25, 2010 No. 132n (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration number 19048) .

The difference arising in connection with the recalculation of the organization's cash flows and cash balances and cash equivalents in foreign currencies at rates on different dates is reflected in the cash flow statement separately from the organization's current, investing and financial cash flows as the impact of changes in the foreign currency exchange rate against the ruble.

20. Significant cash flows of an organization between it and business companies or partnerships that are subsidiaries, dependent or main in relation to the organization are reflected separately from similar cash flows between the organization and other persons.

IV. Disclosure of information in financial statements

21. If an organization provides additional explanations to any indicator in the cash flow statement in its financial statements, then the corresponding article in the cash flow statement must contain a link to these explanations.

22. The organization discloses the composition of cash and cash equivalents and provides a link between the amounts presented in the cash flow statement and the corresponding balance sheet items.

23. The organization discloses, as part of the information on its adopted accounting policies, the approaches used for separating cash equivalents from other financial investments, for classifying cash flows not specified in paragraphs 9 - 11 of these Regulations, for converting cash flows in foreign currency into rubles, for a condensed presentation of cash flows, as well as other explanations necessary to understand the information presented in the statement of cash flows.

24. The organization discloses the opportunities available as of the reporting date to raise additional funds, including:

a) the amount of credit lines opened by the organization, but not used by it, indicating all established restrictions on the use of such credit resources (including the amounts of mandatory minimum (irreducible) balances);

b) the amount of funds that can be received by the organization on overdraft terms;

c) guarantees received by the organization from third parties that were not used as of the reporting date to obtain a loan, indicating the amount of funds that the organization can attract;

d) the amount of loans (credits) not received as of the reporting date under concluded loan agreements (credit agreements), indicating the reasons for such shortfall.

25. The organization discloses the following information, taking into account materiality:

a) existing significant amounts of cash (or cash equivalents) that, as of the reporting date, are not available for use by the organization (for example, letters of credit opened in favor of other organizations for transactions not completed at the reporting date) indicating the reasons for these restrictions;

b) the amount of cash flows associated with maintaining the organization’s activities at the level of existing production volumes, separately from cash flows associated with expanding the scale of these activities;

c) cash flows from current, investment and financial operations for each reportable segment, determined in accordance with the Accounting Regulations “Information by Segments” (PBU 12/2010), approved by Order of the Ministry of Finance of the Russian Federation dated November 8, 2010 No. 143n (registered with the Ministry of Justice of the Russian Federation on December 14, 2010, registration number 19171);

d) funds in letters of credit opened in favor of the organization, along with information about the fact that the organization fulfilled its obligations under the agreement using the letter of credit as of the reporting date. If the obligations under an agreement using a letter of credit are fulfilled by an organization, but the funds of the letter of credit are not credited to its current or other account, then the reasons and amounts of non-credited funds are disclosed.

Comparative characteristics of PBU 23/2011 and IFRS 7 “Cash Flow Statement”

Accounting information in the current conditions of the institutional business environment is becoming more and more important and relevant in the development of a new accounting methodology that is adequate to the conditions of globalization and integration. The introduction of International Financial Reporting Standards (IFRS) is a critical step to create a favorable investment climate and, accordingly, financial growth.

Currently, the convergence of Russian accounting regulations (RAP) with International Financial Reporting Standards (IFRS) is being carried out. One of the proofs of this is the appearance of PBU 23/2011, which is an analogue of IFRS 7 “Statement of Cash Flows”.

In 2011, by Order of the Ministry of Finance of Russia dated 02.02.2011 N 11n, a new Accounting Regulation “Cash Flow Statement” (PBU 23/2011) was approved. For the first time in Russian practice, there is an order in how to reflect cash and its flows in the cash flow statement. PBU 23/2011 is mainly aimed at a detailed disclosure of the concepts and principles of classification of cash flows. However, unlike IAS 7, it does not contain methods for generating cash flows.

There is a difference in the definition of cash equivalents. The definition of cash equivalents given in IAS 7 clearly refers to them as short-term, highly liquid investments that are easily convertible into known amounts of cash and are subject to an insignificant risk of changes in their value, while PBU 23/2011 does not distinguish between the urgency of financial investments .

According to the classification of cash flows, investments of funds in other objects for a period of up to 1 year are classified as short-term cash flow, for a period of more than 1 year - to long-term cash flow. It should also be taken into account that the adoption of a period of 1 year as a criterion for dividing cash flows by their duration is conditional.

An accountant, in accordance with PBU 23/2011, as a result of applying his professional judgment, can classify both short-term and long-term financial investments as cash equivalents. The latter, in turn, contradict one of the conditions for recognizing financial investments as cash equivalents, namely, financial investments must be subject to an insignificant risk of changes in their value.

Long-term financial investments contradict this condition, since it is very difficult to predict and calculate the degree of risk of changes in the value of a financial investment in the long term due to the fact that changes in value may be associated with uncontrollable and unforeseen external events. In addition, classifying long-term financial investments as cash equivalents will understate the balance of cash flows from investment operations.

In other words, the organization’s activity in investment activities decreases, since it is through investment activities that debt securities (the right to claim funds from other persons) are taken into account, with the exception of financial investments acquired for the purpose of resale in the short term. But on the other hand, the reclassification of long-term financial investments into cash equivalents will have an impact on the change in the solvency of the organization, on which creditors focus their attention. Thus, the current, quick and absolute liquidity ratios will be overestimated.

As a result of classifying short-term or long-term financial investments as cash equivalents in accordance with PBU 23/2011, reclassification occurs in the items of current assets or in the items of current assets and non-current assets, respectively. The amount of cash and cash equivalents increases, which as a result leads to an overestimation of solvency and liquidity indicators.

Having analyzed the above differences, we can conclude that the Russian standard provides considerable freedom for the accountant to use his professional judgment when classifying financial investments as cash equivalents. A definition of cash equivalents according to IFRS is more accurate and specific, since only short-term financial investments can be classified as such.

However, according to IAS 7, an accountant may have questions related to the term “investments” (in RAS the term “financial investments” is used). The accountant can also resolve this issue by using his professional judgment, taking into account the provisions of IFRS.

It should be noted that PBU 23/2011 does not define either operational or current activities, but uses the concept of “cash flows from current operations.”

In IAS 7, the definition of operating activities is stated briefly and quite clearly, that is, the accountant, having decided which transactions he classifies as investing and financing activities, classifies all other transactions related to the main income-generating activities and other activities as operating activities.

The situation is completely different in RAS, which provides the definition of “cash flows from current operations.” In accordance with this definition, cash flows from current operations can include cash flows from ordinary activities that generate revenue. In addition, there is the following addition to this definition: cash flows from current operations, as a rule, are associated with the formation of profit (loss) of the organization from sales.

There are also differences in cash flows from operating activities between RAP and IFRS. The first difference is a consequence of differences in the scope of IFRS (IAS) 7 and PBU 23/2011. That is, in accordance with IAS 7, examples of cash flows from operating activities include cash receipts and payments under contracts concluded for commercial or trading purposes, while according to PBU 23/2011, cash flows from current operations include, For example:

payment of interest on debt obligations, with the exception of interest included in the cost of investment assets;

receipt of interest on accounts receivable from buyers (customers);

The second characteristic feature associated with the cash flows of insurance organizations is that the cash receipts and payments of the insurance company for insurance premiums, claims, annuities and other insurance benefits are given in examples of cash flows from operating activities in IAS 7, while in PBU 23/ 2011 nothing was said about the cash flows of insurance organizations. This difference is due to the fact that commercial organizations carrying out specific types of activities (in this case, insurance organizations) have their own regulatory framework.

There is also a difference in the qualification of interest received. IAS 7 allows interest received to be classified as both operating and investing activities, depending on the accountant's professional judgment. An accountant can classify interest income as the first type, based on the fact that these incomes are included in the definition of profit, and as the second type of activity, referring to the fact that these incomes represent investment income. The choice of one or another type of activity fully satisfies the definitions of the relevant types of activity given in IAS 7. When choosing to attribute these incomes to investing activities, the balance of cash flows from operating activities and the negative balance of cash flows from investing activities will be underestimated, which is an unfavorable indicator of the enterprise’s activity for users of financial statements.

Accounting Regulation 23/2011 classifies income from interest on debt financial investments, with the exception of those acquired for resale in the short term, as cash flows from investment transactions. Attributing interest received on financial investments to the organization's investment operations does not contradict the definition of cash flows from investment operations, since these receipts are associated with the acquisition of non-current assets of the enterprise.

International Financial Reporting Standard (IAS) 7 provides greater scope for the accountant to use his or her professional judgment in classifying interest received as a cash flow.

There are also differences in the definition of investment activity. Firstly, it should be noted that PBU 23/2011 does not define investment activities specifically, but uses such a concept as “cash flows from investment operations” (as was described in the case of operating activities). Secondly, in accordance with RAPK, cash flows from investment operations can only include operations related to changes in non-current assets, that is, they are immediately limited to the concept of long-term. And in accordance with IFRS, investment activities, as well as in PBU 23/2011, include activities related to long-term assets, and the distinctive point is that the same activities may include other investments that the accountant, in his professional judgment, does not classified as cash equivalents.

Therefore, short-term investments can also be classified as investment activities, since cash equivalents according to IAS 7 are only short-term, highly liquid investments for which the cash amounts receivable are known and there is an insignificant risk of changes in their value. In relation to investing activities, IFRS also gives the accountant more scope to exercise his or her professional judgment, which is consistent with the examples listed in IAS 7 relating to investing activities.

There are also differences in the guidelines on how to prepare a cash flow statement. In accordance with IFRS (IAS) 7, the cash flow statement in terms of reflecting cash flows from operating activities can be prepared using the direct and indirect method. The direct method, in turn, is also divided into two options for compilation: information is taken from accounting records or the amounts of revenue, cost and other items of the statement of comprehensive income (in RAS - statement of financial results) are adjusted. The cash flow statement in terms of reflecting investing and financing activities is prepared only by the direct method. In accordance with the approved form of the cash flow statement in RAS, it is compiled using the direct method.

It should be noted that when using one or another type and method of calculating cash flow, it should be remembered that a number of problems can reduce its information value.

The structure and composition of cash flow statement indicators in accordance with PBU 23/2011 and IFRS 7 “Cash Flow Statement” is presented in table 1.4. The information presented allows you to clearly see the differences between PBU 23/2011 and its international counterparts.

Table 1.4

Structure and composition of cash flow statement indicators

Name
Presentation of cash flows from investing activities	In accordance with clause 10, this is the movement of money in transactions related to the acquisition, creation or disposal of non-current assets of the company; information on cash flows from investment transactions shows users of the organization’s financial statements the level of the organization’s expenses incurred for the acquisition or creation of non-current assets that provide cash receipts in future.	Investment activities - the acquisition and sale of long-term assets and other investments that are not cash equivalents (clause 6 of IFRS 7). IFRS 7 does not include investments that represent cash equivalents as part of investing activities. In accordance with clause 7 of IFRS 7, an investment, in order to qualify as a cash equivalent, must be readily convertible into a certain amount of cash, and be subject to an insignificant risk of changes in value (clause 15 of IFRS 7).
Presentation of cash flows from financing activities	In accordance with clause 11, the movement of money from operations related to raising financing on a debt or equity basis, leading to a change in the size and structure of the company’s capital and borrowed funds. Information about cash flows from financial transactions provides the basis for forecasting the claims of creditors and shareholders (participants) in relation to the organization's future cash flows, as well as the organization's future needs for raising debt and equity financing, cash flows from financing activities	Bank borrowings are generally considered to be a financing activity. However, if bank overdrafts repayable on demand form an integral part of the company's cash management, then they are included as a component of cash and cash equivalents (clause 8 of IFRS 7).
Presentation of cash flows from operating activities	In accordance with paragraph 9, this is an activity related to the implementation of the usual details of the organization that generates revenue. An organization's cash flows from current operations are usually associated with the formation of the organization's profit (loss) from sales.	An entity must present cash flows from operating activities using either the direct method or the indirect method (paragraph 18 of IFRS 7).
Possibility of using the net method	In accordance with clause 16, cash flows are reflected in a collapsed manner when cash flows characterize not so much the activities of the organization as the activities of its counterparties, and (or) when receipts from some persons determine corresponding payments to other persons. In accordance with clause 17, cash flows are reflected in a collapsed manner when cash flows are distinguished by rapid turnover, large amounts and short repayment periods.	In accordance with paragraph 22 of IFRS 7, cash flows arising from operating, investing or financing activities can be presented in the cash flow statement in a net valuation: (a) cash receipts and payments on behalf of clients, where the cash flows reflect the activities of the client rather than the activities of the company; And (b) cash receipts and payments for items characterized by rapid turnover, large amounts, and short maturities.
Disclosure of information on payment of dividends	In accordance with clause 9, information on cash flows from current operations shows users of the organization’s financial statements the level of the organization’s provision with funds sufficient to repay loans, maintain the organization’s activities at the level of existing production volumes, pay dividends and new investments without attracting external sources of financing. Information about the composition of cash flows from current operations in previous periods, combined with other information presented in the entity's financial statements, provides the basis for forecasting future cash flows from current operations.	In accordance with paragraph 34 of IFRS 7, dividends paid can be classified as financial cash flows, since they are the cost of attracting financial resources. However, to assist users in determining a company's ability to pay dividends from operating cash flows, dividends paid may be classified as a component of cash flows from operating activities.
Disclosure of information on income tax payments	In accordance with clause 9 (subclause d) as part of current activities (except for cases where corporate income tax is directly related to cash flows from investment or financial transactions).	Cash flows arising in connection with income taxes must be disclosed separately and classified as cash flows from operating (current) activities, unless they can be specifically linked to financing or investing activities (clauses 35, 36 of IFRS 7).
Disclosure of funds not available for use	In accordance with paragraph 25, the organization discloses, taking into account materiality, the following information: a) available significant amounts of cash (or cash equivalents) that, as of the reporting date, are not available for use by the organization (for example, letters of credit opened in favor of other organizations for unfinished funds at the reporting date date of transactions) indicating the reasons for these restrictions.	In accordance with paragraph 48 of IFRS 7, an entity must disclose, together with management's commentary, the amount of significant cash balances and cash equivalents that it has but is not available for use.

Chapter 1 Conclusions

Cash is the financial resources of an organization, the most highly liquid assets that can ensure the fulfillment of obligations of any level and type. The timely repayment of the organization's accounts payable depends on their availability.

Functions of cash; medium of exchange, measure of value, means of accumulation, means of payment and world money.

The main regulatory document regulating the new procedure for conducting cash transactions is Bank of Russia Directive No. 3210-U dated March 11, 2014 “On the procedure for conducting cash transactions by legal entities and the simplified procedure for conducting cash transactions by individual entrepreneurs and small businesses,” which came into force on June 4 .2014 According to the new procedure, for individual entrepreneurs and small businesses (small enterprises), the limit on the amount of cash in the cash register has been lifted. The limit rule remains only for organizations that are not small businesses. In the conditions of recognition of IFRS as official on the territory of the Russian Federation, there is a need to analyze the provisions of the Russian accounting regulations PBU 23/2011 with its international analogue IFRS (IAS) 7 “Statement of Cash Flows”. A comparative description of the above documents showed that there are a number of significant differences in the order of reflection of cash flows when drawing up a cash flow statement according to Russian and international rules. International Financial Reporting Standard (IAS) 7 provides greater scope for the accountant to use his or her professional judgment in generating cash flows.

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Other features of PBU 23/2011

Ministry of Finance of the Russian Federation

Accounting Regulations "Cash Flow Statement" (PBU 23/2011)

I. General provisions

Accounting Regulations Cash flow statement PBU 23/2011

I. General provisions

II. Cash flow classification

III. Reflection of cash flows

IV. Disclosure of information in financial statements

Comparative characteristics of PBU 23/2011 and IFRS 7 “Cash Flow Statement”

Accounting Regulations
Cash flow statement
PBU 23/2011