The procedure for maintaining accounting of financial results. Hello student Accounting for the formation of financial results and reporting

In order to determine whether an organization has a profit or a loss at the end of the reporting period, it is necessary to determine the financial result. In the article we will describe in detail what the concept of “financial result” means, what is the methodology for determining it and what entries it is reflected in accounting.

The concept of financial result

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

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

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

Financial result in accounting

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

• financial results for main activities;
• indicators of other income and expenses;
• accruals for taxes to be paid to the budget and excise duties.

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

The procedure for reflecting financial results includes the following steps:

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

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

An example of reflecting financial results in accounting

Based on the results of February 2016, Flagman LLC sold products (ceramic tableware) in the amount of 951,000 rubles, VAT 145,068 rubles. at a cost of 674,000 rubles. The cost of selling tableware amounted to 34,300 rubles. As of February 2016, revenue for payment amounted to 911,000 rubles, VAT 138,966 rubles.

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

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

Let's change the conditions: the buyer receives ownership of the goods at the time of payment. Let’s also assume that sales costs are subject to write-off against the cost of goods that were sold in February 2016.

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

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

To summarize information on other income and expenses, account 91 “Other income and expenses” is used. The following subaccounts can be opened for this account:

91/1 “Other income”;

91/2 “Other expenses”;

91/9 “Balance of other income and expenses.”

Subaccount 91/1 “Other income” takes into account receipts of assets recognized as other income.

Subaccount 91/2 “Other expenses” takes into account expenses recognized as other expenses.

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

Entries for subaccounts 91/1 and 91/2 are made cumulatively throughout the reporting year. The balance of other income and expenses is determined monthly by comparing the debit turnover in subaccount 91/1 and the credit turnover in subaccount 91/2. This balance is written off monthly (with final turnover) from subaccount 91/9 to account 99 “Profits and losses”. Thus, as of the reporting date, account 91 “Other income and expenses” does not have a balance.

At the end of the reporting year, subaccounts 91/1 and 91/2 are closed with internal entries to subaccount 91/9.

Accounting for income and expenses from the sale of assets (with the exception of finished products and goods). When depreciable property is disposed of due to sale, write-off due to the end of its useful life and for other reasons, when materials and other non-depreciable property are disposed of due to sale, write-off due to damage, or gratuitous transfer, their value is written off to the debit of account 91. The amount of buyers' debt for sold property is reflected in the debit of account 62 “Settlements with buyers and customers” and the credit of account 91.

Accounting for other income and expenses.

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

Deductions to valuation reserves (for the reduction in the value of tangible assets, for securing investments in securities, for doubtful debts) are reflected in the debit of account 91 and the credit of accounts 14 “Reserves for the decrease in the value of tangible assets”, 59 “Reserves for the depreciation of investments in securities” and 63 “Provisions for doubtful debts”. Unused reserves in the period following the period of their creation are written off to the debit of accounts 14, 59 and 63 from the credit of account 91.

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

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

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

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

· receipts and expenses associated with participation in authorized capitals other organizations (including interest and other income on securities);

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

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

· interest received and paid for the provision of the organization’s funds for use, as well as interest for the bank’s use of funds held in the organization’s account with this bank;

· expenses related to payment for services provided by credit institutions;

· fines, penalties, penalties for violation of contract terms;

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

· proceeds to compensate for losses caused to the organization;

· profit of previous years identified in the reporting year;

· losses of previous years recognized in the reporting year;

· amounts of accounts payable and depositors, accounts receivable for which the statute of limitations has expired;

exchange rate differences;

· the amount of revaluation and depreciation of assets;

· other income and expenses.

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

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

Analytical accounting for account 91 is carried out for each type of other income and expenses. At the same time, the construction of analytical accounting for other income and expenses related to the same financial and business transaction should provide the ability to identify the financial result for each operation.

Purpose and structure of account 99 “Profits and losses”.

Nesterov A.K. Accounting for financial results // Nesterov Encyclopedia

Accounting for financial results must be carried out in accordance with current legislation and regulations accounting. For correct, accurate and timely accounting of financial results, including for the purpose of assessing the effectiveness of the economic activity of an enterprise, enterprises must have an appropriate accounting process.

Objectives of financial accounting

Accounting for financial results

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

Accounting Objectives

Business transactions related to the financial results of the enterprise require special attention from the accounting department of the enterprise, being one of the indicators of the enterprise's activity. It is also important from the point of view of organizing internal accounting of related indicators that influence the process of forming the financial result and the final assessment of the profitability of the enterprise’s economic activities.

In this area of ​​accounting, accounting information on the facts of economic activity is collected 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 transactions on their content and specific facts corresponding to ordinary and other income and expenses in the complex of economic activities of the enterprise.

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 a balance of either credit or debit. On an accrual basis during the year, the debit 99 of the “Profit and Loss” account records losses and losses, and the credit, respectively, records profits and income. By comparing the turnover in 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 formed during the year on account 99 “Profit and Loss” from the following components:

• profit or loss from ordinary activities;
• other expenses and income;
• losses, income and expenses caused by extraordinary circumstances of activity;
• amounts of conditional expenses accrued for income tax, permanent liabilities, payments for recalculation of income tax from actual profit, the amount of tax sanctions.

Finished works on a similar topic

• Coursework Accounting for financial results 460 rub.
• Abstract Accounting for financial results 230 rub.
• Test Accounting for financial results 230 rub.

Note 1

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

Trading, sales, and supply companies calculate the result from the sale of goods by subtracting from the selling price the purchase price and sales expenses that relate to the goods sold during the reporting period.

Features of accounting for financial results

The cost of sales is reflected in the active-passive 90 “Sales” account. The debit of this account includes the actual cost of products sold, the purchase price of goods, expenses, VAT and other expenses. The credit of the specified account records the proceeds from the sale of products, goods, services, and works. As a result of comparing the turnover in the debit and credit of the 90 “Sales” account, the result is determined that is debited monthly from the 90 “Sales” account to the 99 “Profit and Loss” account.

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

• Debit 90 “Sales”
• Credit 99 “Profits and losses.”

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

• Debit 99 “Profits and losses”
• 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 carried out by types of non-operating and operating income and expenses.

Operating expenses and income, which are recorded on 91 accounts “Other income and expenses” in accordance with PBU9/99 and PBU10/99, are:

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

The result of the sale or other disposal of fixed assets as profit or loss is reflected in account 91 “Other income and expenses”. At the same time, debit 91 of the sub-account “Other expenses” indicates the residual value of fixed assets that have been disposed of and the costs associated with disposal, the amount of VAT received as part of the proceeds from the sale of fixed assets. Under credit 91 of the “Other Income” subaccount, 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 the following entry is made:

• , subaccount “Balance of other income and expenses”
• Credit 99 “Profits and losses.”

The resulting loss is reflected in accounting by posting:

• Debit 99 “Profits and losses”
• Credit 91 “Other income and expenses”, subaccount “Balance of other income and expenses”.

Note 2

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

Accounting records similarly reflect the results obtained from the sale of other property of the enterprise. Income from participation in other companies arises when the enterprise receives part of the profits of other companies and dividends on shares that belong to the shareholder organization.

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

• based on actual receipt of funds;
• according to preliminary accrual on income accounts.

When funds are received, accounting entries are made:

• Debett 51 “Currency accounts” or 52 “Currency accounts”

At the end of the month an entry is made:

• Debit 91 “Other income and expenses”
• Credit 99 “Profits and losses.”

The amount of income receivable from contributions to the authorized capital of enterprises and dividends are reflected by posting:

• Debit 76 “Settlements with various debtors and creditors”
• Credit 91 “Other income and expenses.”

At the end of the month the following is posted:

• Debit 91 “Other income and expenses”
• Credit 99 “Profits and losses.”

Income payments are reflected by posting:

• Debit 51 “Currency accounts”, 52 “Currency accounts”
• Credit 76 “Settlements with various debtors and creditors.”

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

• Debit 91 “Other income and expenses”
• Credit 68 “Calculations for taxes and fees” (according to subaccounts).

Income received in the form of fines, penalties, penalties is reflected in the entry:

• Debit 51 “Current account”
• Credit 91 “Other income and expenses.”

The amounts of fines, penalties, and penalties accrued to the enterprise for violating the terms of business contracts are reflected in the entry:

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

Note 3

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

• Debit 99 “Use of profit”
• Credit 68 “Calculations for taxes and fees.”

Positive or negative exchange rate differences arise as a result of conversion at the current 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 income or expenses that arise as a result of extraordinary circumstances of the economic activity of the enterprise. They are accounted for in account 99 “Profit and Loss”.

At the end of the reporting year, the final entries in 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 as of January 1, following the reporting year, does not have a balance.

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

• Debit 99 “Profits and losses”
• Credit 84 “Retained earnings (uncovered loss).”

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

• Debit 84 “Retained earnings (uncovered loss)”
• Credit 99 “Profits and losses.”

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, compensate for losses of previous years and for other purposes.

1. The concept of financial results

Final financial result- is an increase or decrease in the capital of an organization in the process of financial and economic activities for the reporting period, which is expressed in the form of total profit or loss.

Profit (loss) of the reporting period is determined monthly by comparing all income and expenses taken into account. If the income received exceeds the expenses incurred in the reporting period, then a profit is made, otherwise - a loss.

When forming the final financial result, the following are taken into account:

Profit (loss) from ordinary activities;

Profit (loss) from other operations;

Income and expenses attributable to a decrease in profit (income tax, tax sanctions).

Income- this is an increase in economic benefits as a result of the receipt of assets (cash, other property) and (or) repayment of liabilities, leading to an increase in the capital of this organization, with the exception of contributions from participants (owners of property).

Expenses- this is a decrease in economic benefits as a result of the disposal of assets (cash, other property) and (or) the occurrence of liabilities, leading to a decrease in the capital of this organization, with the exception of a decrease in contributions by decision of participants (owners of property).

2. Structure and procedure for generating financial results

Income of the organization:

1. From normal activities:

Revenue from the sale of products and goods, income related to the performance of work, provision of services

2. Other income:Income related to:

Providing for a fee the temporary use (possession) of the organization’s assets;

Providing for a fee rights arising from patents and other types of intellectual property;

Participation in the authorized capital of other organizations;

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

Sale of fixed assets and other assets other than cash, products, goods;

Interest received for the provision of funds to the organization for use, incl. banks;

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

Proceeds to compensate for losses caused to the organization;

Profit of previous years identified in the reporting year;

Amounts of accounts payable and depositors for which the statute of limitations has expired;

Exchange differences;

The amount of revaluation of assets;

Other non-operating income.

Receipts arising as a consequence of emergency circumstances of economic activity (natural disaster, fire, accident, nationalization, etc.):

Insurance compensation;

The cost of material assets remaining from the write-off of assets unsuitable for restoration and further use, etc.

The following are not recognized as income of the organization:

The amount of VAT, excise taxes, sales tax, export duties and other similar mandatory payments;

Amounts under commission agreements, agency agreements and other similar agreements;

In the order of advances, prepayment, deposit of collateral;

To repay a loan granted to a borrower.

Organization expenses:

1.For normal activities:

Expenses associated with the manufacture of products and the sale of products, the acquisition and sale of goods, expenses the implementation of which is associated with the performance of work and the provision of services.

Grouping by elements:

Material costs;

Labor costs;

Contributions for social needs;

Depreciation;

Other expenses.

2.Other expenses:

Asset disposals related to:

Providing for a fee the temporary use (possession) of the organization’s assets*;

Providing for a fee rights arising from patents and other types of intellectual property *;

Participation in the authorized capital of other organizations *;

With the sale, disposal and other write-off of fixed assets and other assets other than cash, goods, products;

Payment for services provided by credit institutions;

Interest paid by an organization for the provision of loans and borrowings;

Deductions to valuation reserves and reserves created in connection with the recognition of contingent facts of economic activity;

Others

* If this type of activity is not the main one (otherwise it is classified as expenses for ordinary activities)

Fines, penalties, penalties for violation of contract terms;

Compensation for losses caused by the organization;

Losses from previous years;

Amounts of receivables for which the statute of limitations has expired, and other debts that are unrealistic for collection;

Exchange differences;

Amount of asset write-down;

Transfer of funds related to charitable activities;

For the implementation of sporting events, recreation, entertainment, cultural and educational events and other similar events;

Other.

Expenses arising as a consequence of emergency circumstances of economic activity (natural disaster, fire, accident, nationalization of property, etc.):

Losses from forced stoppage of production;

Expenses associated with the prevention (liquidation) of the consequences of natural disasters.

The following are not recognized as expenses of the organization:

Amounts for the acquisition (creation) of non-current assets;

Contributions to the capital of other organizations;

Amounts under commission agreements, agency agreements and other similar agreements;

In the form of advance payment, in the form of advances, deposits;

To repay loans received by the organization.

3. Accounting for financial results from ordinary activities

Income from ordinary activities is revenue from sales of products, works, and services. Expenses for ordinary activities represent the cost of goods, works and services sold.

Conditions for accepting income and expenses into account:

1. Revenue is accepted for accounting if the following conditions are simultaneously met:

The organization has the right to receive revenue arising from the terms of the contract or otherwise confirmed;

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

Ownership of goods, work, or services has passed to the buyer;

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

If at least one of the conditions is not met, not revenue is reflected in accounting, but accounts payable for the received asset.

2. expenses are taken into account if the following conditions are simultaneously met:

Expenses were incurred in accordance with a specific contract or legal requirements;

The amount of revenue can be reliably estimated;

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

If at least one of the conditions is not met, the accounting reflects not the expense, but the receivables.

Account 90 “Sales” is intended to summarize information about income and expenses associated with the organization’s normal activities, as well as to determine the financial result for them.

During the year, account 90 collects data on the organization’s income and expenses for ordinary activities. Sub-accounts are opened for account 90:

90-1 "Revenue";

90-2 “Cost of sales”;

90-3 "Value added tax";

90-4 "Excise duties";

90-9 "Profit / loss from sales."

Proceeds from the sale are reflected in the credit of account 90 “Sales” and the debit of account 62 “Settlements with buyers and customers”.

At the same time, the cost of goods sold, products, works, services is written off to the debit of account 90 “Sales” from the credit of accounts 43 “Finished Products”, 41 “Goods”, 44 “Sales Expenses”, 20 “Main Production”, etc.

After revenue is reflected in subaccounts 90-3 and 90-4, VAT and excise taxes are charged in correspondence with account 68 “Calculations for taxes and fees”.

At the end of each month, the amount of debit turnover on subaccounts 90-2, 90-3, 90-4 is compared with credit turnover on subaccount 90-1. The resulting result is the profit or loss from sales for the month.

Thus,

Financial result from sales = Amount of sales revenue (credit turnover for the reporting month in subaccount 90-1) - Cost of sales (total debit turnover in subaccounts 90-2, 90-3, 90-4, 90-5, 90-6) .

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 month to account 99:

D 90-9 K 99 - the amount of profit for the month is reflected

D 99 K 90-9 - reflects the amount of loss received for the month.

At the end of each month, account 90 has no balance, but all subaccounts have debit or credit balances, the value of which accumulates.

At the end of the reporting year, after writing off the financial result for December, all subaccounts within account 90 are closed. In this case, the balances on them are transferred to subaccount 90-9:

D 90-1 K 90-9 - the balance of the “Revenue” subaccount is written off;

D 90-9 K 90-2, 90-3, 90-4 - the balance of subaccounts of account 90 is written off.

As a result of these entries, as of January 1 of the new reporting year, subaccounts account 90 do not have a balance.