The composition of other income and expenses is regulated by PBU 9/99 “Income of the organization” and PBU 10/99 “Expenses of the organization”. Accounting for other income and expenses is carried out on sub-accounts 91-1 "Other income", 91-2 "Other expenses", in some cases (for example, when reflecting the gratuitous receipt of material assets), account 99 "Profits and losses" is used. Every month, the difference between the amount of income and expenses reflected in sub-accounts 91-1 and 91-2 is reflected in sub-account 91-9. It should be borne in mind that on sub-accounts 91-1 and 91-2.
Other income are in accordance with PBU 9/99 "Income of the organization":
- · Assets received free of charge, incl. under a donation agreement;
- · Profit of previous years, revealed in the reporting year;
- Receipts in compensation for losses caused to the organization;
- Amounts of accounts payable and depositor's debts for which the term has expired limitation period;
- · Exchange differences;
- · Other non-operating income;
- · Amount of revaluation of assets;
- · Fines, penalties, forfeits for violation of the terms of contracts, as well as compensation for losses caused to the organization are accepted for accounting in amounts awarded by the court or recognized by the debtor;
- · Receipts related to the provision for a fee for temporary use (temporary possession and use) of the organization's assets;
- · Receipts related to the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;
- Income related to participation in authorized capitals other organizations (including interest and other income from securities);
- · Profit received by the organization as a result of joint activities (under a simple partnership agreement);
- · Proceeds from the sale of fixed assets and other assets other than cash (except for foreign currency), products, goods;
- · Interest received for the provision of the organization's funds for use, as well as interest for the bank's use of funds held on the organization's account with this bank.
Assets received free of charge are accepted for accounting at market value. The market value of the assets received free of charge is determined by the organization on the basis of the prices valid on the date of their acceptance for accounting for this or a similar type of assets. Data on prices in force on the date of acceptance for accounting must be documented or confirmed by an examination.
other expenses are in accordance with paragraph 12 of PBU 10/99 "Expenses of the organization":
- · Fines, penalties, forfeits for violation of the terms of contracts;
- · Losses of previous years recognized in the reporting year;
- Compensation for losses caused by the organization;
- · Amounts of receivables for which the limitation period has expired, other debts that are unrealistic to collect;
- · Negative exchange differences, with the exception of those related to operating expenses in accordance with RAS 15/01;
- · The amount of depreciation of assets (except for the amount of depreciation of fixed assets - in accordance with PBU 6/01);
- · Transfer of funds (contributions, payments, etc.) associated with charitable activities, expenses for sports events, recreation, entertainment, cultural and educational events and other similar events (non-operating expenses);
- · Losses from theft of material and other valuables, the perpetrators of which are not identified by court decisions;
- · Expenses associated with the provision for a fee for temporary use (temporary possession and use) of the organization's assets costs associated with the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;
- · Expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash (except for foreign currency), goods, products;
- · Costs associated with participation in the authorized capital of other organizations;
- · Interest paid by the organization for providing it with the use of funds (credits, loans);
- · Costs associated with payment for services rendered by credit institutions;
- · Deductions to estimated reserves created in accordance with PBU (reserves for doubtful debts, depreciation of investments in securities, etc.), as well as reserves created in connection with the recognition of contingent facts of economic activity;
- · Other expenses.
Income and expenses, the implementation of which is not related to the subject of the organization's activities, are considered other income and expenses.
Other income are:
1) income related to the provision for a fee for temporary use (temporary possession and use) of the organization's assets;
2) receipts related to the provision for a fee of rights arising from patents for inventions and other types of intellectual property;
3) income associated with participation in the authorized capital of other organizations (including interest and other income from securities);
4) profit received by the organization as a result of joint activities (under a simple partnership agreement);
5) proceeds from the sale of fixed assets and other assets other than cash (except for foreign currency), products, goods;
6) interest received for the provision of the organization's funds for use, as well as interest for the bank's use of funds held on the organization's account with this bank;
7) fines, penalties, forfeits for violation of the terms of contracts;
8) assets received free of charge, including under a gift agreement;
9) exchange differences, etc.
For purposes accounting the amount of other income is determined in the following order:
The amount of proceeds from the sale of fixed assets and other assets other than cash (except for foreign currency), products, goods, as well as the amount of interest received for the provision of funds for use by the organization, and income from participation in the authorized capital of other organizations (when this is not the subject of the organization's activities).
Fines, penalties, forfeits for violation of the terms of contracts, as well as compensation for losses caused to the organization are accepted for accounting in amounts awarded by the court or recognized by the debtor.
Assets received free of charge are accepted for accounting at market value. The market value of the assets received free of charge is determined by the organization on the basis of the prices valid on the date of their acceptance for accounting for this or a similar type of assets. Data on prices in force on the date of acceptance for accounting must be documented or confirmed by an examination.
other expenses are:
1) expenses associated with the provision for a fee for temporary use (temporary possession and use) of the organization's assets;
2) costs associated with the provision for a fee of rights arising from patents for inventions and other types of intellectual property;
3) expenses associated with participation in the authorized capital of other organizations;
4) expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash (except for foreign currency), goods, products;
5) interest paid by the organization for providing it with funds (credits, loans) for use;
6) fines, penalties, forfeits for violation of the terms of contracts;
7) the amount of receivables for which the limitation period has expired, other debts that are unrealistic to collect;
8) exchange differences, etc.
For accounting purposes, the amount of other expenses is determined in the following order.
The amount of expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash (except for foreign currency), goods, products, as well as participation in the authorized capital of other organizations, with the provision for a fee for temporary use (temporary possession and use) of the organization's assets, rights arising from patents for inventions, industrial designs and other types of intellectual property (when this is not the subject of the organization's activity), interest paid by the organization for providing it with funds for use, as well as expenses associated with payment for services rendered by credit institutions.
Fines, penalties, forfeits for violation of the terms of contracts, as well as compensation for losses caused by the organization are accepted for accounting in amounts awarded by the court or recognized by the organization.
Income and expenses not related to the normal activities of the company are recorded in the account 91 "Other income and expenses".
In accounting, income (expenses) from the lease of property is attributed to other income (expenses) of the company, if the provision of property for rent is not the subject of the company's activities.
The amount of rent due to the organization under the lease agreement is reflected in accounting as follows:
Debit 76 (62) Credit 91/1- reflects income from the rental of property.
The costs associated with the provision of property for rent are reflected in the posting:
Debit 91/2 Credit 02 (10, 70, 69...)- reflects the cost of renting out property.
The amount of money that the organization received from buyers for the company's property sold to them is reflected in the accounting as follows:
Debit 62 (76) Credit 91/1- income from the sale of property is taken into account.
At the same time, the residual value of the sold fixed assets, intangible assets (the actual cost of other property transferred to buyers) is written off:
Debit 91/2 Credit 01 (04, 03, 10, 58...)- written off the residual value of the sold property.
Then VAT is charged on the sales proceeds:
Debit 91/2 Credit 68 sub-account "VAT settlements" - VAT is charged on proceeds from the sale of property.
All expenses associated with the sale of property are reflected in the debit of sub-account 91/2:
Debit 91/2 Credit 20 (23, 25...)- expenses related to the sale of property are taken into account.
To take into account cash, accounts payable or receivable in foreign currency, the organization must convert them into rubles.
For recalculation, you must use the official exchange rate in force on the date of receipt of foreign exchange funds or acceptance of foreign currency debt for accounting.
So, exchange rate differences are formed:
1) when recalculating funds in a foreign currency account or currency in cash - if on the date of the transaction with currency (the date of reporting) its exchange rate has increased or decreased;
2) when recalculating accounts payable- if on the date of repayment of the debt (date of reporting) the exchange rate turned out to be lower or higher than on the date of its occurrence;
3) when recalculating accounts receivable - if on the date of repayment of the debt (date of reporting) the exchange rate turned out to be higher or lower than on the date of its occurrence.
The amount of a positive exchange difference is credited to sub-account 91-1:
Debit 50 (52, 60, 62, 76...) Credit 91/1- reflects a positive exchange rate difference.
The amount of the negative exchange rate difference will be attributed to the debit of sub-account 91/2:
Debit 91/2 Credit 50 (52, 60, 62, 76...)- reflected a negative exchange rate difference.
The amounts of penalties, fines, penalties recognized or awarded by the court, accrued for violation of the terms of business contracts, are taken into account as follows:
Debit 91/2 Credit 76/2- accrued amounts of penalties, fines, forfeits for violation of the terms of business contracts.
Determination of the balance of other income and expenses at the end of the month
At the end of each month, determine financial results(profit or loss) from other activities of the organization.
This is done like this:
Balance of other income and expenses= The amount of other income (credit turnover for the reporting month on subaccount 91/1) - The amount of other expenses (debit turnover for the reporting month on subaccount 91/2)
If the amount of income exceeded the amount of expenses, then the organization made a profit.
The amount of profit is reflected at the end of the month by posting:
Debit 91/9 Credit 99- reflected profit from other activities.
If the amount of income was less than the amount of expenses, then the organization received a loss.
The amount of loss is reflected at the end of the month by posting:
Debit 99 Credit 91/9- reflected the loss from other activities.
Account 91 should not have a balance at the end of each month. However, sub-accounts 91/1 and 91/2 may have balances during the year, and their value will increase starting from January of the reporting year.
26. The concept and composition of non-current assets. Accounting for investments in non-current assets.
Fixed assets (Fixed capital) - fixed assets, fixed assets the amount of capital invested in a set of material objects and values used in the production process to influence the objects of labor and their transformation into products suitable for consumption.
Non-current assets participate in many production cycles, serve for a long time and transfer their value to the cost of goods produced with it gradually, as they wear out through depreciation.
AT composition non-current assets distinguish between active and passive parts. To active part non-current assets include machines, equipment, vehicles directly involved in the processing, transformation and movement of objects of labor. The active part of non-current assets is the most mobile and dynamic, the most affected by scientific and technological progress.
To passive part non-current assets include buildings and structures, on the presence, composition and condition of which depend on working conditions, the functioning of machinery and equipment.
Accounting for non-current assets.
Check 08 Investments in non-current assets» is designed to summarize information about the organization’s costs in objects that will subsequently be accepted for accounting as fixed assets, land plots and nature management objects, intangible assets, as well as about the organization’s costs for the formation of the main herd of productive and working livestock (except for poultry, fur-bearing animals, rabbits, families of bees, service dogs, experimental animals, which are included in the funds in circulation).
To account 08 "Investments in non-current assets" sub-accounts can be opened:
08-1 "Acquisition of land plots"; Sub-account 08-1 “Acquisition of land plots” takes into account the costs of acquiring land plots by the organization.
08-2 "Acquisition of objects of nature management"; Sub-account 08-2 “Acquisition of objects of nature management” takes into account the costs of acquiring objects of nature management by the organization.
08-3 "Construction of fixed assets"; Sub-account 08-3 "Construction of fixed assets" takes into account the costs of erecting buildings and structures, installation of equipment, the cost of equipment transferred for installation and other expenses provided for by estimates, cost estimates and title lists for capital construction (regardless of whether is construction by contract or economic method).
08-4 "Acquisition of individual fixed assets"; Sub-account 08-4 “Acquisition of certain fixed assets” takes into account the costs of acquiring equipment, machinery, tools, inventory and other fixed assets that do not require installation.
08-5 "Acquisition of intangible assets"; Sub-account 08-5 "Acquisition of intangible assets" takes into account the costs of acquiring intangible assets
08-6 "Transfer of young animals to the main herd"; Sub-account 08-6 “Transfer of young animals to the main herd” takes into account the costs of growing in the organization of young productive and working cattle transferred to the main herd.
08-7 "Acquisition of adult animals"; Sub-account 08-7 "Acquisition of adult animals" takes into account the cost of adult and working cattle purchased for the main herd or received free of charge, including the cost of its delivery.
08-8 "Performance of research, development and technological work" Sub-account 08-8 "Performance of research, development and technological work" takes into account the costs associated with the implementation of research, development and technological work . and etc.
General principles accounting for investments in non-current assets
Investments in non-current assets (long-term investments) are understood as the costs of creation. Increasing the size, as well as the acquisition of long-term non-current assets not held for sale, with the exception of long-term financial investments.
Depending on which object will be taken into account as a result of investments. You can select attachments:
In fixed assets (including profitable investments in material assets);
Into intangible assets;
· In research, development and technological work (R&D).
Synthetic accounting investments in non-current assets are kept on account 08 "Investments in non-current assets" on the relevant accounts.
Analytical accounting account 08 is kept for each created or acquired object of fixed assets and intangible assets; for the costs associated with the formation of the main herd - by animal species; for expenses related to the implementation of R&D - by type of work, contracts (orders).
For the debit of account 08 reflect (accumulate) the actual costs of the organization, included in the initial cost of fixed assets, intangible assets and other assets.
By credit account 08 the formed initial cost of objects is written off after they are accepted for accounting (commissioning) to the debit of accounts 01 “Fixed assets”, 04 “Intangible assets”, etc.
Upon sale, gratuitous transfer and other disposals of incomplete investments in non-current assets, their value is written off to the debit of account 91 “Other income and expenses”.
Account balance 08“Investments in non-current assets” reflects the value of organizations' investments in construction in progress, modernization and reconstruction of fixed assets, pending transactions for the acquisition and creation of fixed assets, intangible assets and other non-current assets.
Long-term investments are financed by own funds(accumulated depreciation, retained earnings, proceeds from the sale of fixed assets, amounts of insurance indemnities) and attracted funds (credits, loans, budget allocations, etc.)
Accounting for capital investments
According to the Federal Law of February 25, 1999 No. 39-FZ "On Investment Activities in Russian Federation, carried out in the form of capital investments "investments in fixed capital (fixed assets) are called capital investments, whose participants are investors, customers, contractors, and users of capital investment objects.
Capital investments in fixed assets are associated with the following activities:
· Acquisition of land plots and nature management facilities. The inventory value of these objects consists of the costs of their acquisition and the costs of improving their quality, commissions and other payments. When forming the initial cost of land plots and nature management objects, it is necessary to take into account. That these objects are not depreciated and therefore, according to RAS 15/01, the costs of borrowings used to acquire them are not capitalized, but are charged to current expenses;
· Acquisition of objects requiring installation or assembly. Technological, energy, and production equipment requiring installation or assembly is accounted for on account 07 “Equipment for installation”. It is accepted for accounting in the debit of the account in the amount of the actual cost of acquisition and is debited from account 07 to the debit of account 08 “Investments in non-current assets” upon transfer to installation. The actual cost of purchasing equipment for installation is determined in accordance with the procedure established for accounting for inventories and includes the cost at the purchase price, the cost of purchasing and delivering to the organization's warehouses;
· Acquisition of buildings, structures, equipment and other individual items of fixed assets or their parts that do not require construction and installation work in preparation for operation (vehicles, free-standing machines, construction machinery, production equipment, etc.);
· Formation of the main herd by acquiring adult animals or transferring young animals that are being grown to the main herd. Adult animals are accounted for at actual cost of acquisition, including shipping costs; young animals are taken into account according to the estimate, which consists of the actual cost of rearing at the beginning of the reporting year and the planned cost of weight gain or gain for the period from the beginning of the year until the transfer of animals to the herd. At the end of the year, the value of the planned cost is adjusted (by an additional or reversal entry) to the value of the actual cost of the gain or gain;
· Capital construction, carried out in the form of new construction, reconstruction, modernization, expansion and technical re-equipment of existing enterprises. The objects of capital construction are buildings, structures with all the arrangements related to them (galleries, flyovers), equipment, furniture, inventory, and, if necessary, objects of external improvement, etc.
Accounting for investments in intangible assets and R&D expenses
Intangible assets (IA) can be acquired by an organization under an assignment (acquisition) agreement exclusive rights from the copyright holder (seller) or be created on their own or through the involvement of third-party organizations. In any case, registration of exclusive intellectual property rights is required.
Organizations can independently carry out research, development and technological developments or enter into contracts with contractors - specialized organizations. In accordance with PBU 17/02, as a result of performing R&D, intangible assets or an inventory object “R&D expenses” can be taken into account. The concept and features of accounting for R&D expenses are discussed in detail in Chapter 3.
Correspondence of accounts for accounting for investments in non-current assets
| Contents of operation | Debit | Credit |
| 1. Acquisition of fixed assets, including equipment that does not require installation: | ||
| invoices of sellers and suppliers are accepted | ||
| VAT included | ||
| reflects other costs for the acquisition, bringing objects to a state suitable for operation, | 10.70.69.76 and others. | |
| VAT included | 60,76 | |
| reflects the fee for registration of ownership of the property | ||
| 2. Purchase of equipment requiring installation: | ||
| suppliers' invoices accepted | ||
| VAT included | ||
| reflected other acquisition costs | 60,76,71 etc. | |
| VAT included | 60,76 | |
| released equipment from the warehouse for installation (for the amount of all acquisition costs) | ||
| 3. Construction and installation. Modernization and reconstruction of fixed assets in a contracted way: | ||
| contractors' invoices for completed construction and installation work were accepted | ||
| VAT included | ||
| 4. Construction and installation, modernization and reconstruction of fixed assets in an economic way: | ||
| construction and installation costs | 10,70,69,60,76 etc. | |
| VAT included | 60,76 | |
| VAT accrued (monthly on the cost of construction and installation work performed per month) | ||
| 5. Transfer of young animals to the main herd: | ||
| reflects the cost of rearing young animals | 10,70,69 etc. | |
| The cost of growth of young animals is reflected at the planned cost of growing | ||
| the young are transferred to the main herd during the year | ||
| the cost of weight gain or growth of young stock has been adjusted to the actual cost at the end of the reporting year | ||
| 11 storno | 20 reversal | |
| the cost of young animals at the end of the reporting year has been adjusted: | ||
| a) the actual cost of cultivation is higher than the planned one | ||
| b) the actual cost of cultivation is lower than the planned one | 08 reversal | 11 storno |
| 6. Acquisition of intangible assets: | ||
| the account of the seller (copyright holder) is accepted | ||
| VAT included | ||
| reflected additional costs for the preparation of intangible assets for use | 08, 19 | 10,70,69,76 etc. |
| 68,76 | ||
| 7. Creation of intangible assets: | ||
| expenses for the creation of intangible assets are reflected | 10,70,69,60,76 etc. | |
| VAT included | 60,76 | |
| expenses for registration of exclusive rights to intangible assets | 68,76 | |
| 8.Performing R&D: | ||
| reflects R&D expenses performed in-house | 10,70,69,76 etc. | |
| VAT included | 60,76 | |
| the invoice of the R&D contractor for the work performed was accepted | ||
| VAT included | ||
| 9. Accepted for accounting: | ||
| fixed assets | ||
| including profitable investments in material assets | ||
| intangible assets | ||
| object "Expenses on R&D" | 04 R&D | |
| 10. The cost of investment objects in non-current assets (construction in progress, etc.) was written off upon sale and other disposal. | ||
| 11.Written off the cost of R & D, which did not give positive result | ||
| 12. Input VAT presented for deduction: | ||
| a) for construction and installation work performed by an economic method (as paid to the budget) | ||
| b) in other cases (subject to the conditions stipulated by the Tax Code of the Russian Federation) |
Note:
After taking into account the acquired values (works, services), the organization fixes the amount of VAT related to them on the debit of account 19 “Value Added Tax on acquired values”. In the future, in most cases, the amount of VAT (subject to the conditions listed in Article 171 of the Tax Code of the Russian Federation) the taxpayer has the right to accept for tax deduction (D-t sch. 68, K-t sch. 19)
In the cases provided for in Art. 170 of the Tax Code of the Russian Federation, taxes charged by the supplier (customer) to the buyer when acquiring valuables (works, services) are included in their cost and are not subject to tax deduction. At the same time, an entry is made on the debit of the accounts of accounting for values \u200b\u200b(08, 10, 41, etc.) or costs (20, 25,26,41,91, etc.) and the credit of account 19.
27. The procedure for the formation and accounting of authorized, reserve and additional capital.
Authorized capital- this is the starting capital necessary for the enterprise to carry out financial and economic activities in order to make a profit.
Legal basis of the authorized capital determines its size and composition, the terms and procedure for making contributions to the authorized capital by participants, the assessment of contributions in the event of their contribution and withdrawal, the procedure for changing the shares of participants, the responsibility of participants for violation of obligations to make contributions.
Accounting is kept on account 80 "Authorized Capital". The credit balance of this account shows the amount of the registered authorized capital, the credit turnover reflects the amount of its increase for legal reasons, and the debit turnover reflects the decrease in the authorized capital when its participants (founders) leave the organization and for other reasons.
Change in the size of the authorized capital enterprise is always associated with the re-approval of its constituent documents general meeting founders and their re-registration with the relevant state bodies.
Increase the authorized capital enterprises can be carried out in cases of attracting additional funds from participants, in the event of an additional issue of shares or an increase in their face value; directions for its increase in retained net profit, additional and reserve capital, as well as accrued founder's income (dividends);
Decrease in authorized capital enterprises can be carried out in the following cases: withdrawal of founders from the organization or redemption of shares by a joint-stock company with their subsequent cancellation; bringing the size of the authorized capital to the value of the net asset value and repaying the uncovered loss at the expense of it, as well as covering the loss by reducing the size of the contributions (shares) of the participants or the nominal value of the shares;
Synthetic and analytical accounting of the authorized capital is conducted in the journal-order 15 on the basis of the constituent documents of the enterprise that have passed the state registration, contracts for the sale of shares in joint-stock companies and other primary documentation.
To account for the sources of new material assets or the increase in their book value, the concept of additional capital.
To account for the amounts of additional capital and summarize information about their accumulation and use, an accounting account is intended 83 "Additional capital".
Analytical accounting this account is conducted according to the sources of its formation and directions of use. The sources of formation are:
Increase in the value of property by revaluation and due to capital investments;
share premium;
Positive exchange rate differences resulting from the contribution of foreign currency to the authorized capital of the enterprise;
Funds allocated from the budget and used to finance long-term investments;
Funds of the enterprise aimed at replenishment of working capital.
In accounting change (increase) in the initial cost of fixed assets, equipment for installation is reflected in the entry on the credit of account 83 "Additional capital" in correspondence with accounts 01 "Fixed assets", 03 "Profitable investments in tangible assets", 07 "Equipment for installation".
Reserve capital represents the insurance capital of the enterprise, intended to compensate for losses from economic activities, as well as to pay income to investors and creditors in case there is not enough profit for these purposes. The funds of the reserve capital act as a guarantee of the uninterrupted operation of the enterprise and the observance of the interests of third parties. The formation of reserve capital can be mandatory and voluntary.
Account 82 "Reserve capital" is provided for obtaining information on the availability and movement of reserve capital funds. The formation of reserve capital at the expense of undistributed net profit is reflected in the debit entry of account 84 "Retained earnings (uncovered loss)" in correspondence with account 82 "Reserve capital".
The income that the organization receives, in accordance with the current legislation on accounting, is divided into income from ordinary activities and Other income.
Organizations have the right to independently qualify their income, taking into account the direction of the organization's activities, as well as the nature and conditions of income.
When generating information on income, commercial enterprises must use the Accounting Regulations "Income of the Organization" PBU 9/99, which was approved by Order of the Ministry of Finance of Russia dated May 6, 1999 N 32n (hereinafter referred to as PBU 9/99).
Paragraph 4 of PBU 9/99 specifies the classification of income, according to which all income received by the organization is divided into income from ordinary activities and other income.
Note that the chosen procedure for recognizing income received by the organization must be prescribed in accounting policy on accounting.
Other income also includes extraordinary income that was received as a result of emergency situations.
Other income in accounting
The list of other income is open and is given in paragraph 7 of PBU 9/99.
So other income is:
income related to the granting for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;
income related to the provision for a fee for temporary use (temporary possession and use) of the organization's assets;
profit received by the organization as a result of joint activities (under a simple partnership agreement);
income related to participation in the authorized capital of other organizations (including interest and other income from securities);
interest received for the provision of the organization's funds for use, as well as interest for the bank's use of funds held on the organization's account with this bank;
proceeds from the sale of fixed assets and other assets other than cash (except for foreign currency), products, goods;
assets received free of charge, including under a donation agreement;
fines, penalties, forfeits for violation of the terms of contracts;
profit of previous years, revealed in the reporting year;
receipts in compensation for losses caused to the organization;
exchange differences;
the amount of revaluation of assets;
amounts of accounts payable and depositor's debts for which expired;
Other income.
The procedure for reflecting other income in accounting
According to the Chart of Accounts for the financial and economic activities of organizations and the Instructions for its use, approved by Order of the Ministry of Finance of Russia dated October 31, 2000 N 94n (hereinafter referred to as the Chart of Accounts), to account for information on other income and expenses of the reporting period, you must use the account 91 "Other income and expenses" .
326,000 - reflected in financial investments are funds provided under a loan agreement;
30 000 rub. - VAT is charged on the amount of sales;
RUB 180,000 - received money from the buyer;
RUB 15,216 (180,000 rubles - 30,000 rubles - 134,784 rubles) - reflected the profit from the sale of the car.
Example 3
The organization entered into a lease agreement, under the terms of which it leases its equipment for a period of 1 month.
The provision of property for rent is not the main activity for the organization.
The rental price is 36,000 rubles, including VAT at a rate of 20% - 6,000 rubles. The specified amount is transferred to the settlement account of the organization at the end of the lease term. The organization conducts settlements with the tenant on account 76 "Settlements with various debtors and creditors".
36 000 rub. - the amount of the rent has been credited to the current account.
As of January 1, CJSC Gorizont has 37,000 rubles on its balance sheet. reserve capital and 94,000 rubles. additional capital.
Dt 82 Kt 84 - 37,000 rubles. - part of the loss was repaid at the expense of the reserve fund;
Dt 83 Kt 84 - 94,000 rubles. - a part of the loss was repaid at the expense of additional capital. The amount of uncovered loss of CJSC Gorizont amounted to 19,000 rubles. (150,000 - 37,000 - 94,000).
The net profit of the organization is the basis for the accrual of dividends and other distribution of profits.
Schematically, the formation of net profit (loss) can be represented as follows:
Accounting for other income and expenses
Account 91 “Other income and expenses” is active-passive, has no balance at the end of the month.
Account 91 reflects income and expenses not related to the normal activities of the organization.
To account for other income, subaccount 91/1 is used. The receipt of income is reflected in the credit of this sub-account.
To account for other expenses, subaccount 91/2 is used. Expenses are reflected in the debit of this sub-account.
Every month, the difference between the amount of income and the amount of expenses reflected in sub-accounts 91/1 and 91/2 is reflected in sub-account 91/9. On sub-accounts 91/1 and 91/2, data are accumulated throughout the year. This information is used to compile the income statement and other financial statements. On a monthly basis, the balance of other income and expenses is written off from sub-account 91/9 to account 99 “Profit and Loss”.
[Amount of other income (credit turnover for the reporting month on subaccount 91/1)] - [Amount of other expenses (debit turnover for the reporting month on subaccount 91/2)] = [Balance of other income and expenses]
The balance of other income and expenses shows the financial result from other activities of the organization - profit or loss.
On December 31, after determining the balance of other income and expenses for December by internal entries on sub-accounts (account 91), all sub-accounts opened to account 91 must be closed:
Dt 91/1 Kt 91/9 - subaccount 91/1 (credit balance) is closed;
Dt 91/9 Kt 91/2 - subaccount 91/2 (debit balance) is closed.
As a result of these postings, debit and credit turnovers on sub-accounts of account 91 will be equal. As of January 1 of the next year, the balance of both account 91 as a whole and all its sub-accounts will be equal to zero.
Example.
The results of the organization's activities in the reporting month are characterized by the following indicators: proceeds from the sale of products in the amount of 180,000 rubles, including VAT - 27,458 rubles; expenses attributed to the cost of goods sold amounted to 110,000 rubles, of which the costs of the main production - 100,000 rubles; management expenses - 10,000 rubles; other income received: under a simple partnership agreement - 15,000 rubles; fines for violation of business contracts - 5000 rubles. Other expenses incurred: for paying interest on a loan - 2,500 rubles; bank services - 1000 rubles; taxes paid at the expense of financial results, -1500 rubles; received losses from the write-off of material assets destroyed by fire - 5 thousand rubles; accrued income tax in the amount of 12 610 RUB. Formation of financial results for the reporting month: Dt 62 Kt 90/1 - 180,000 rubles. - Reflection of proceeds from the sale of products.
D-t 90/3 Set 68 - 27,458 rubles. - Reflection of VAT on revenue.
D-t 90/2 Set 20 - 100,000 rubles. - reflection in the cost of goods sold of the costs of the main production.
D-t 90/2 Set 26 - 10,000 rubles. - Reflection in the cost of goods sold of management expenses.
D-t 90/9 Set 99 - 42,542 rubles. - attributing the amount of profit from the sale of products to the profit and loss account.
Dt 76/3 Kt 91/1 - 15,000 rubles. -- Reflection of income under a simple partnership agreement .
Dt 76/2 Kt 91/1 - 5000 rubles. - Reflection of recognized fines for violation of business contracts.
Dt 91/2 Kt 66 - 2500 rubles. - reflection of accrued interest on the loan.
Dt 91/2 Kt 76/5 - 1000 rubles. - reflection of expenses for payment of banking services.
Dt 91/2 Kt 68 - 1500 rubles. - reflection of the accrued amounts of taxes paid at the expense of profits and losses.
Dt 91/9 Kt 99 - 15,000 rubles. - attributing the amount of profit from other income and expenses to the profit and loss account.
D-t 91/2 Set 10 - 5000 rubles. - reflection of the amount of loss from the write-off of materials destroyed by fire.
Dt 99 Kt 68 - 12,610 rubles. - Calculation of income tax.
For the reporting month, taxable income amounted to 52,542 rubles. (42,542 + 15,000 - 5,000), income tax at a rate of 20% - 10,508 rubles, financial result of the organization's activities - 42,034 rubles. (42,542 + 15,000 - 5,000 - 10,508).
Accounting for deferred income
In accordance with the Regulation on accounting and financial reporting in the Russian Federation (clause 81), income received in the reporting period, but related to the following reporting periods, is called deferred income.
Deferred income is recorded on account 98 "Deferred income" - a passive, balance sheet account. The credit of the account takes into account all types of income relating to future periods, and the debit - their write-off.
4 sub-accounts can be opened for account 98:
- "Income received on account of future periods."
- "Free Income".
- "Upcoming receipts of debts for shortfalls identified over past years."
- "The difference between the amount to be recovered from the perpetrators and the book value for shortages of valuables."
On sub-account 98/1, the following incomes can be taken into account: rent or rent, utility bills, subscription fees for using communication facilities, etc.
When reflecting the amounts of income relating to future reporting periods, the following entries are made:
Dt 50, 51, 52, 55 Kt 98/1 - for the amount of income received relating to future reporting periods;
Dt 58 "Financial investments" Kt 98/1 - for the amount of accrued payments against deferred income.
As the reporting period begins, the amounts recorded under the credit of account 98/1 are transferred to the corresponding accounts:
Dt 98/1 Kt 90 “Sales” - for the amount of deferred income (for example, payment for utilities received in advance, etc.) included in the proceeds from the sale of the reporting period to which they relate.
Dt 98/1 Kt 91 “Other income and expenses” - for the amount of deferred income (for example, rent) included in other income.
In the reporting period, 000 "Don" received a quarterly rent for the lease of premises in the amount of 7,080 rubles relating to the future period, including VAT of 1,080 rubles. The following entries will be made in the account:
Dt 76 Kt 98/1 - 7080 rubles. - for the amount of accrued rent for future periods;
Dt 51 Kt 76 - 7080 rubles. - for the amount of rent received on the settlement account for the quarter;
D-t 98/1 Set 68 - 1080 rubles. - for the amount of VAT charged.
The amount of payment without VAT is subject to write-off to operating income;
Dt 98/1 Kt 91 - 2000 rubles. (6000: 3) - for the amount of the quarterly payment for one month of the quarter.
The cost of assets received by the organization free of charge is recorded on sub-account 98/2. Accounting for such transactions is set out in the relevant topics.
The movement of forthcoming debt receipts for shortages identified in the reporting period for previous years is reflected in sub-account 98/3.
By decision of the court, the sum of the shortfall in the amount of 2,500 rubles, revealed in the reporting period for previous years, was awarded for recovery from the guilty person. The shortfall must be refunded to the cashier in full.
The following entries will be made in the account:
Dt 94 Kt 98/3 - 2500 rubles, - for the amount of the shortage debt awarded by court decision;
Dt 73/2 Kt 94 - 2500 rubles. - for the amount of shortage;
Dt 50 Kt 73/2 - 2500 rubles. - for the amount of the shortage brought to the cash desk;
D-t 98/3 Set 91 - 2500 rubles. - for the amount of debt received (after payment)
Sub-account 98/4 takes into account the difference between the amount recovered from the perpetrators for the missing values and the value recorded in the organization's accounting records.
The revealed amount of the difference is reflected in the accounting entry: Dt 73/2 Kt 98/4.
The organization found a shortage of materials damaged through the fault of a financially responsible person. The actual cost of materials is 20,000 rubles, the market value is 25,000 rubles. When purchasing materials, VAT was paid - 4000 rubles. By order of the manager, the shortage must be compensated in the amount of the market value of the materials. The following entries will be made in the account:
D-t 94 Set 10 - 20,000 rubles. - the amount of the actual cost;
Dt 73/2 Kt 94 - 20,000 rubles. - the amount of the shortage is attributed to the financially responsible person at the actual cost;
Dt 73/2 Kt 68 - 3600 rubles. - on the amount of VAT attributed to the guilty person;
Dt 73/2 Kt 98/4 - 50,000 rubles. - the amount of the difference between the market and actual cost of materials;
Dt 70 Kt 73/2 - 28,600 rubles. - for the amount of shortage withheld from the wages of the guilty person;
Dt 98/4 Kt 91 - 5000 rubles. - the sum of the difference between the market and actual cost of materials is charged to income.
Analytical accounting for account 98 is organized in the reserve of each open sub-account.
Creation and use of a reserve for doubtful debts
In modern conditions, when the probability of bankruptcy of business entities is quite high, almost every enterprise is faced in its work with the inability to receive payment from the debtor. As a result, a debt is formed on the balance sheet of the enterprise, the possibility of repayment of which is in doubt - the so-called doubtful debt.
Doubtful debt is any debt to the organization, subject to two conditions:
- if it is not repaid within the terms established by the agreement;
- if it is not secured by a pledge, surety, bank guarantee.
Doubtful debt refers to debt that is highly likely not to be repaid on time, which involves determining such a probability by the organization itself.
According to new edition clause 70 of Regulation No. 34n, any doubtful receivables, including doubtful debts on loans, which are not repaid or with a high degree of probability will not be repaid within the terms established by the agreement, and are not secured by appropriate guarantees, should be reserved. In addition, advance payments made (i.e. suppliers' debt to ship goods or perform work) also fall under the category of doubtful debts. By not creating a provision, the organization is misleading its external users, reflecting the amount of doubtful receivables in liquid assets.
To determine the amount of the reserve, you can use the methodology provided for tax accounting.
The amount of the reserve is determined separately for each doubtful debt, depending on its maturity.
Since the amount of the created reserve is taken into account as part of other expenses that reduce taxable profit, the creation of the reserve allows you to reduce the amount of income tax. The amount of the reserve for doubtful debts can be determined only by conducting an inventory of receivables on the last day of the reporting (tax) period. If enterprises pay income tax on a quarterly basis, it is advisable to conduct an inventory to identify doubtful debts at the end of the quarter. Enterprises that calculate income tax on a monthly basis should conduct an inventory of receivables on a monthly basis.
The inventory is carried out on the basis of the order of the head of the organization. A certificate is attached to the inventory act, which indicates the names, numbers and dates of documents confirming the receivables of contracts, invoices, etc.
Accounting for reserves for doubtful debts is kept on passive account 63 "Reserves for doubtful debts". The creation (increase) of the reserve is reflected in the credit of account 63, and the use - in the debit of the account.
In accounting, the creation of a reserve for doubtful debts is reflected in the entry
Dt 91, sub-account 2 2 “Other expenses” Kt 63 “Reserves for doubtful debts”.
The write-off of doubtful debts is reflected in accounting as follows:
Dt 63 “Reserves for doubtful debts” Kt 62 “Settlements with buyers”, 76 “Settlements with various debtors and creditors” - in the part covered by the reserve.
If the entire amount of the reserve is not spent by the end of the year, the balance as of December 31 is included in other income. In accounting, this is reflected in the posting:
Dt 63, sub-account "Reserves for doubtful debts" Kt 91, sub-account 1 "Other income".
In the financial statements it is necessary to reflect the receivables minus the amount of the created reserve, i.e. the credit balance on account 63 is deducted from the amount under the item "Accounts receivable".
As of June 30, 2012, the unused balance of the allowance for doubtful debts amounted to 65,000 rubles.
Accountant 000 "Don", having carried out an inventory of accounts receivable, revealed doubtful accounts receivable for some counterparties. At the same time, in relation to one of the debtors - CJSC "Granit" - information was received that this company is in the process of liquidation and has no funds to pay off the debt.
The total amount of the reserve, calculated based on the amount of receivables, is 250,000 rubles.
The accountant will add an additional 185,000 rubles to the reserve.
Dt 91/2 Kt 63 - 185,000 rubles (250,000 - 65,000) - the reserve for doubtful debts for the II quarter was increased.
In August 2012, the accountant recognized the uncollectible debt of CJSC Granit in the amount of 70,000 rubles, since the debtor was liquidated. Having received a document confirming the liquidation, the accountant wrote off the amount of bad debt at the expense of the reserve:
Dt 63 Kt 62 - 70,000 rubles. - the uncollectible receivables of ZAO Granit were written off at the expense of the reserve;
Dr. 007 - 70,000 rubles. - Written-off receivables are reflected off the balance sheet. In the event that the debtor has fully or partially repaid the debt for which the reserve was created, it must be restored to the debt repayment debt.
Dt 51 (50) Kt 62 - the debt of the buyer (customer) has been repaid;
Dt 63 Kt 91/1 - the reserve has been restored in terms of debt repayment.
In tax accounting, you can choose whether to create a reserve for doubtful debts or not. The decision made is fixed in the accounting policy of the organization.
If an organization does not form a reserve in tax accounting, then when creating a reserve for doubtful debts, a permanent taxable difference arises in accounting, which entails the recognition of a permanent tax liability in accounting on the basis of clause 7 PBU 18/02:
Dt 99 Kt 68.
The amount of the created reserve reflects a permanent tax liability.
Analytical accounting on account 63 "Reserves for doubtful debts" is carried out for each created reserve.
Other income is a set of cash and material receipts in favor of the company that were received for the provision of work or services, as well as the sale of inventory items. However, these types of activities cannot be attributed to the main ones.
Other expenses in accounting are expenses of the company that are aimed at carrying out operations that are not related to ordinary activities.
Recall that the main (ordinary) activity (OD) of the organization is enshrined in the charter, as well as in other constituent documents. Key characteristic of OA: the activity for which the enterprise was created.
Let's determine which income and expenses cannot be attributed to the main ones:
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Other income includes: |
Other expenses include: |
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Note that the current legislation regulates the procedure for recognizing operations as part of other income and expenses. So, for example, clauses 15-16 of PBU 9/99 establish which receipts can be attributed to PD. But paragraphs 16-19 of PBU 10/99 are valid to include costs in the composition of the PR.
How to reflect in accounting
In accordance with the Order of the Ministry of Finance No. 94n, a special accounting account - 91 is used to reflect other operations. Separate sub-accounts are provided for this accounting account:
- 91-1 - to reflect profitable transactions;
- 91-2 - to account for costly operations;
- 91-9 - the final balance.
During the entire calendar year, the totals for sub-accounts 91-1 and 91-2 are not written off and are not combined. That is, the totals are taken into account separately for each sub-account. And only at the end of the financial year, accounting data are subject to write-off.
Typical postings to reflect other transactions:
How to write off
Other income and expenses are written off by posting
Dt 91-1 Kt 91-9.
But to write off other expenses, the posting is as follows:
Dt 91-9 Kt 91-2.
The final balance formed on sub-account 91-9 is subject to write-off to account 99 “Profit and Loss”. However, the accounting entry depends on what arithmetic value was obtained when allocating other expenses and income to the sub-account of the final balance.
In other words, if the annual turnover on other income exceeded the amount of annual other expenses, then an entry is formed in accounting:
Dt 91-9 Kt 99.
In the event that the expenditure side exceeds the income, the accountant makes a reverse entry:
Dt 99 Kt 91-9.
These accounting entries are made immediately before the reformation of the balance sheet and other financial statements.