Financial result from the sale of goods. Determined the financial result from the sale of products posting, financial accounting

09.12.202027.05.2017

The financial result from the sale of products is determined as the difference between the volume of sales excluding VAT and production costs:

It is calculated so that account 90 has a zero balance (table 8). Account 90 is “closed” at the end of the reporting period.

Table 8 - "Sales" (account 90), thousand rubles.

Property tax calculation

The object of taxation is movable and immovable property recorded on the balance sheet as fixed assets. Fixed assets are accounted for on account 01 "Fixed assets" taking into account the accrued depreciation (account 02 "Depreciation of fixed assets") (table 6).

The maximum tax rate cannot exceed 2.2% 5 .

The amount of tax is determined as the product of the taxable base and the tax rate (taking into account the advance payments paid for the reporting periods - 3, 6 and 9 months).

The taxable base is defined as the average property value ( WITH wednesday ) for the reporting period (formula (1)):

, (1)

where - the residual value of the property as of the 1st day of each month of the reporting period;

–The residual value of the property as of the 1st day of the month following the tax (reporting) period;

–Number of months in the tax (reporting) period.

Advance payments are defined as the product of the average property value (for the relevant reporting period) and the tax rate.

The average value of property for tax purposes for the 1st quarter (reporting period 3 months) is calculated using the formula (2):

, (2)

where
- the cost of the property on the first day of January, February, March, April, respectively.

The amount of the advance payment for the I quarter is determined as:

thousand roubles.

This tax is accounted for as other losses and is recorded on account 91 “Other income and expenses”.

Based on the results of the calculation, fill out the forms of the corresponding declarations.

Accounting of settlements of organizations with the budget for the tax on the property of enterprises is carried out on balance account 68 "Calculations for taxes and fees" on a separate subaccount "Calculations for property tax". The amount of tax calculated in accordance with the established procedure is reflected in the credit of account 68 "Calculations of taxes and fees" and the debit of account 91 "Other income and expenses", the balance of which at the end of the reporting period is written off to account 99 "Profits and losses".

Income tax calculation

The organization is a payer of income tax.

Income tax is determined at a final rate of 20% of taxable income 6.

Taxable profit is calculated as the financial result from the sale, taking into account other expenses and incomes recorded on account 91. In this case, other expenses are calculated in the amount of 1,673 thousand rubles. (property tax).

Taxable profit is presented as a credit balance on account 99 (table 9).

Table 9 - "Profit and loss" (Account 99)

(before income tax), thousand rubles

Debit	Credit	Note



		Total turnover
		Balance (taxable profit)

The tax rate on profit of enterprises and organizations, credited to the federal budget, is set at 2%.

The budgets of the constituent entities of the Russian Federation are credited with the profit tax of enterprises and organizations, calculated at a tax rate of 18%.

Income tax is calculated as follows:

thousand roubles.

After paying income tax, the organization has a "net" (and so far undistributed) profit in the amount of:

thousand roubles.,

which in the balance sheet of the enterprise at the end of the quarter will be reflected in equity.

Table 10. - "Profit and loss" (Account 99)

(after calculating income tax), thousand rubles

Debit		Credit	Note
reducing taxable profit	non-deductive taxable profit
			Financial result from product sales (profit)
			Financial result from other income and expenses.
			Total turnover
			Taxable profit
			Income tax

After the calculations are made, fill out the declaration form for this tax (for students of the specialty training 080109 "Accounting, analysis and audit").

Fin. the result is formed on the active-passive account 99 "Profits and losses", which has a one-sided balance. During the year, on an accrual basis, losses and losses are recorded on the debit of account 99, and on the credit - profits and incomes. By comparing the debit and credit turnovers, the final financial result of the organization's activities for the reporting period is determined. Credit balance means profit, debit balance means loss.

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

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

The result from the sale of products, works, services and goods is identified on the active-passive account 90 "Sales". The debit of this account reflects the actual cost of goods sold, the purchase price of goods sold, expenses related to the work performed and services rendered, VAT, sales tax and other expenses. On the credit of account 90, proceeds from the sale of products, goods, works and services are posted. Comparing the turnover of debit and credit of account 90, they find the result (in the form of profit or loss), which is monthly. write off from account 90 to account 99 "Profits and losses".

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

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

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

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

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

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

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

The sale of unused property is definitely effective.

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

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

Particular attention should be paid to the implementation of redundant materials. This is necessary to identify excess stocks that lead to a slowdown in their turnover.

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

Topic number 11 Accounting for the financial results of the enterprise

The purpose of the lesson is to master the procedure for reflecting the formation of financial results on the accounts.

The financial result for the reporting year represents an increase or decrease in the capital of the enterprise, formed in the course of its business activities.

The financial result of the organization's activities is profit or loss for the reporting period, it is the difference between income and expenses.

In accordance with the regulatory documents on accounting, the income and expenses of the organization, depending on their nature, conditions of receipt and areas of activity of the enterprise, are conditionally divided into groups:

1) income and expenses from ordinary activities, i.e. from the activities for which the organization was formed,

2) other income and expenses,

In accounting, the difference between the income and expenses of an organization is determined using financial performance accounts, such as:

- account 90 "Sales",

- account 91 "Other income and expenses",

- account 99 "Profits and losses".

Thus, the financial results of the organization's activities for the reporting period are revealed on three accounts:

1) on account 90 - the financial result from the sale of products, works, services, i.e. results from production activities,

2) on account 91 - the financial result from other income and expenses, i.e. profit or loss from other operations,

3) on account 99 - the financial result of the enterprise.

Monthly on the first two accounts, the revealed financial result for the specified groups of income and expenses, which is debited to account 99.

Account 90 compares income (revenue from the sale of products) and expenses (cost of products sold,

In accounting, data during the reporting year on account 99 "Profit and loss" reflects the final results on accounts 90 "Sales", 91 "Other income and expenses"

Amounts are written off from account 99 "Profits and losses" at the end of the reporting year when the annual financial statements are drawn up to account 84 "Retained earnings (uncovered loss)".

Income tax.

The corporate income tax is determined by Chapter 25 of the Tax Code of the Russian Federation.

The Tax Code provides for exemption from payment of certain types of activities, the accounting of income and expenses for which must be separate. These types are:

Ø statutory activities of non-profit organizations at the expense of earmarked income and budget funds,

Ø activities of organizations for which a simplified taxation system is used, or a single tax on imputed income is paid.

The object of taxation of income tax is the profit of an enterprise, defined as the difference between the income received and the amount of expenses incurred.

The company's income for the purposes of calculating income tax is divided into two groups:

1.income from the sale of goods, works, services,

2. other income.

Expenses, depending on the nature, as well as the conditions of implementation and areas of activity, are divided into two groups:

1.the costs associated with the production and sale of products,

2. other expenses.

Other income includes the following types of income:

Ø amount of rent,

Ø interest on loans issued,

Ø the amount of fines recognized by the debtors,

Ø funds received free of charge,

Ø other similar income.

Other costs include the following types of costs:

Ø expenses for the maintenance of leased property,

Ø legal costs,

Ø expenses for banking services,

Ø interest on debt obligations

Ø losses of previous tax periods.

Income tax rate is set at 20%

An example of accounting for financial results

Problem number 1

In the reporting period, the organization sold products worth 1,200,000 rubles. (including VAT -18%) The cost of production was 600,000 rubles, commercial expenses - 25,000 rubles.

In the same period, the organization received income in the amount of 50,000 rubles. (incl. VAT-18%) from property lease. Renting out property is not a production activity for the organization. The costs associated with the provision of property for rent amounted to 45,000 rubles.

Determine the financial result, make accounting entries.

D-t 62 - K-t 90 account 1 - 1200000 - reflects the proceeds from the sale of products,
D-t 90 count 3 - K-t 68 - 183051 rubles. - the amount of VAT from the sale of products is reflected,
D-t 90 sc. 2 - Kit 43 - 600,000 rubles. - reflects the cost of production,
D-t 90 sc. 2 - K-t 44 - 25,000 rubles. - the amount of commercial expenses is reflected,
D-t 76 - K-t 91 p. 1 - 50,000 rubles. the amount of income from renting out property is reflected,
D-t 91 p. 2 - K-t 68 - 7627 rubles. - the amount of VAT from the lease of property is reflected,
D-t 91 p. 2 - K-t 60 - 45,000 rubles. - the amount of expenses from renting out property is reflected,
D- 90 p. 9 - K-t 99 - 391 949 rubles. - the amount of profit from the sale of products is reflected,
D-t 99 - K-t 91 p. 2 - 2627 rubles. - reflected the amount of loss from other income and expenses,
D-t 99 - K-t 84 - 388,722 rubles. - the amount of retained earnings of the reporting period has been determined.

Financial result from production activities - (profit) - 391,949 rubles \u003d (1,200,000 rubles - 183,051 rubles - 600,000 rubles - 25,000 rubles),

Financial result from other income and expenses - (loss) - 2627 rubles. \u003d (50,000 rubles - 7627 rubles - 45,000 rubles)

The amount of retained earnings will amount to RUB 388,722. \u003d (391 949 RUB-2627 RUB)

Problem number 2

Calculation of corporate income tax

Accounting entry - Debit 99 - Credit 68 accounts (corporate income tax) - 2800 - corporate income tax was charged.

Tasks for independent solution

When completing assignments, use applications number 1

Problem number 1.

Income and expenses from ordinary activities

In the reporting period, the organization sold finished products for 276,000 rubles. (including VAT 18%.). Title to the products shipped passes to the buyer at the time of shipment. The cost of the shipped products is 160,000 rubles.

Be smart!

Selling expenses amounted to RUB 25,000. At the end of the reporting period, the organization's settlement account received proceeds in payment for the shipped products in the amount of 210,000 rubles.

Problem number 2.

In the reporting period, the organization sold finished products for 276,000 rubles. (including VAT 18%.). Title to the shipped products passes to the buyer at the time of payment. Selling expenses are fully charged to cost of goods sold for the reporting period. The cost of the shipped products is 160,000 rubles. Selling expenses amounted to RUB 25,000. At the end of the reporting period, the organization's settlement account received proceeds in payment for the shipped products in the amount of 210,000 rubles.

Draw up accounting entries and determine the financial result from the sale of products.

Problem number 3.

Other income and expenses

In the reporting period, the organization received the following income, which is not income from ordinary activities:

- proceeds from the sale of an object of fixed assets - 12,000 rubles. (including VAT 18%.). The initial cost of the sold object of fixed assets is 10,000 rubles, the amount of accrued depreciation is 4,000 rubles;

- income from shares of the joint-stock company belonging to the organization - 30,000 rubles;

- interest on the loan provided to the employee - 400 rubles.

The organization incurred the following expenses:

- a fine for violation of the terms of the lease agreement is recognized to be paid - 4,000 rubles;

- written off accounts receivable with the expired limitation period - 15,000 rubles.

Draw up accounting entries and determine the balance of other income and expenses.

Problem number 4.

The organization sold finished products in the amount of 912,000 rubles. (including VAT 139,119 rubles).

Cost of sold products 800,000 rubles.

The proceeds from the sale of products were credited to the current account.

Materials sold to a third-party organization in the amount of 30,000 rubles.

The proceeds from the materials were credited to the current account.

Interest received on deposits in the bank 40,000 rubles.

The cost of selling finished products amounted to 5,000 rubles.

Paid for bank services - 800 rubles.

Written off overdue accounts receivable 35,000 rubles.

Determine the financial result. Draw up accounting entries.

Problem number 5

The buyer was presented with settlement documents for the shipped products in the amount of 45 600 rubles. (including VAT - 18%.). The buyer paid for the products received. The cost of the shipped products is 16,000 rubles. Selling costs RUB 2,000

Determine the financial result and draw up accounting entries.

Problem number 6

The accounting policy established that general business expenses are written off to the cost of sales on a monthly basis. In the reporting period, LLC sold finished products for 240,000 rubles. (including 18%.). The cost of the products sold amounted to 150,000 rubles, general expenses for the reporting period amounted to 16,000 rubles. Determine the financial result from the implementation and reflect in the accounting.

Self-test questions

How to determine the financial result

The principle of continuity - the enterprise works indefinitely.

4. The principle of materiality is not to waste time on taking into account insignificant facts.

5. The principle of conservatism - when choosing an accountant, he chooses an amount that is less optimistic.

6. The principle of constancy - during one reporting period you need to use one form and method of accounting.

7. The principle of the national currency - in accounting, the method of assessing funds in a constant currency is applied throughout the entire reporting period.

8. The principle of cost - funds are valued at cost at the time of purchase, and not at market value.

9. Principle of implementation - enterprises take into account their income at the time of shipment of goods, and not at the time of payment.

10. Principle of correspondence - profit - revenue of the reporting period - the costs of this period.

11. The principle of duality - the principle of balance, when accounting information is considered according to the composition of funds and sources of their formation: the totality of all funds (asset) is equal to the totality of sources (liability); the principle of double entry: a business transaction that changes the composition of funds and sources of formation does not violate the principle of balance.

Financial accounting tasks.

1. Formation of complete, reliable information about the activities of the enterprise required by users.

2. Providing users with information to monitor compliance with legislation, the feasibility of business operations, the availability and movement of property and obligations, the use of material, labor, financial resources in accordance with the approved standards.

3. Prevention of negative results of economic activity.

4. Identification of on-farm reserves to ensure the financial stability of the enterprise.

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

Financial result in accounting - a little theory

We will start by recalling our formula for financial results. This is how it looks.

Result \u003d Revenue from activities (Income) - Expenses for the implementation of activities

if Result\u003e 0 then Profit
if Result< 0, тогда Убыток.

This is a general formula in terms of accounting. We will now rewrite it using accounts. I suggest you do it yourself. This assignment is nothing more than a test of your understanding of how accounting works and your knowledge of basic accounting. Rewrite the previous formula using accounts and then compare the answer to mine.

The formula that we just remembered successfully shows the result from all the activities of the company. And we, of course, over the course of a number of articles, have come across a mention that firms have their main and non-main activities. What is it? And how is this reflected in the formula?

To begin with, let's recall the concepts of the main and not the main activity of the enterprise.

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

Accounting main activity occurs on accounts:

90.1 - revenue (income) from activities
costs / expenses on accounts - 90.2 ... .90.8, 26, 44

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

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

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

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

In general, there are many different situations where a firm receives income that is related to non-core activities. The variety of such situations is a matter of experience and studying the tax code, reading accounting magazines, consulting with auditors.

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

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

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

taxes with payroll,
income taxes
taxes that do not depend on profits (Property, Land, Transport, VAT, etc.)

Payroll taxes (payroll)

We include taxes on the wage fund (PFR), social insurance (FSS) and health insurance (FFOMS). These taxes are paid by the company at its own expense and has the full right to put them on costs / expenses. Therefore, taxes from payroll are on the expense / expenditure accounts, namely on 20, 23, 25, 26, 44. These taxes appear on the accounts at the time of the “month-end” and provided that there is a salary for employees. Those. there is a payroll in the current month. (there is a Credit Turnover on account 70)

Profit-independent taxes

Transport, Property and Land are the most common taxes. They are counted as expenses. But unlike taxes with payroll, accounted for in the expense / expense accounts (20, 25, 26, 44), these taxes immediately go to 91.2.

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

Tax VAT that is in the group of non-profit taxes is accounted for differently. VAT is a tax for the fact that a markup is made on a product, product, service or work. VAT stands for value added tax. Those. the selling price of each product or service contains a certain amount of VAT tax (if, of course, the company is obliged to pay this tax). This VAT amount, every time you make out an implementation, will go:

on the 3rd subaccount at 90 accounts in Debit - if this is a sale for the main activity
on the 2nd sub-account at 91 accounts in Debit - if this is a sale for non-core activities. As a rule, there will be a sale of materials and fixed assets.

Profit

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

Income tax is calculated after we define the "Result" sign. Remember the formula we started with? If "Result"\u003e 0 we have "Profit", and if less - then "Loss".

For each account, whether it is 90 (main activity) or 91 (non-main activity), a "result" is calculated. Then, through a posting with account 99, this "Result" is transferred to account 99, and accounts 90 and 91 as a whole give a zero ending balance at the end of the period (this is the "month-end" mechanism).

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

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

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

Financial result in accounting - primary documents

Summing up the financial result is called "closing the month". This happens monthly as follows:

actions to collect all expenses (depreciation, closing 26, 25, 23, 20, 40, 44)
calculation of taxes from the payroll fund (taxes from payroll)
calculation of taxes that do not depend on profits (1 time per quarter) (Transport, Property, Land)
final calculation of the financial result (closing of 90 and 91 accounts. "Throwing the totals to 99")
calculation of income tax (once a quarter)

All the steps described, except for the "calculation of taxes that do not depend on profit", are done at the end of the month, at the time of the "Close of the month". And the calculation of "taxes that do not depend on profit" must be done by manual posting, before the "close of the month", since these amounts affect the financial result. Therefore, they must hit 91 before it starts closing at 99.

Additionally

You noticed that in the formula for the financial result, I wrote down the expense part like this. In doing so, I highlighted the cost accounts in bold. Have you noticed?

Accounting and analysis of financial results

I wanted to draw your attention to this and raise a couple of questions from you. What kind?

why is there no 20, 25 count when there is 26?
why are these accounts allocated?

Let's look at it in order.

Why isn't there 20, 25 counts when there are 26

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

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

For manufacturing enterprises, to obtain the cost of production, all costs are collected on account 20. And what gets into the formula for the financial result? Only the cost of products sold at the time of their sale is included. As well as expenses from 44 accounts.

Then what does the 26th account tell us in the financial result formula? The presence of 26 accounts, transferring their amounts to account 90, is typical for firms providing services.

Why do you highlight these accounts in the formula?

Because these accounts don't exist in the formula! Here's how! I wrote them so that you have an answer to the question "Where will the amounts go and where will the amounts from the accounts storing costs / expenses". These amounts will be in the financial result formula, but will be transferred there to the corresponding sub-accounts.

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

90.7 Selling Expenses. Amounts from 44 accounts will come here (production and trade activities, work execution)
90.8 "Administrative expenses". Amounts from account 26 will come here (service activities)

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

Now we have in our articles on the site only a highlighted basis from the theory of accounting. The next step will be to practice your accounting skills. Stay on the site. All the fun is yet to come.

Consolidate your knowledge

In addition to the financial result from ordinary activities, organizations receive financial results from other activities. The financial result from other activities should be understood as the result of those transactions that are not the subject of the main activities of the enterprise. To determine the result from other activities, it is necessary to have information about income and expenses from non-core activities.

The composition of income from non-core activities is specified in PBU 9/99 "Income of an organization" as amended by orders of the Ministry of Finance of Russia No. 55-N dated 04/27/2012. In accordance with this document, other income is:

1. Income or proceeds from the lease of fixed assets and intangible assets

2. Income from participation in the authorized capital of other organizations

3. Profit from joint ventures

4. Proceeds from the sale of fixed assets and other assets

5. Interest received for the provision of funds for use

6. Fines, penalties, forfeits received for violation of the terms of contracts

7. Assets received free of charge, including under a gift agreement

8. Proceeds in compensation of losses caused to the organization

9.8. DETERMINATION OF FINANCIAL RESULTS FROM SALE

Profit of previous years revealed in the reporting

10. Amounts of accounts payable and accounts payable for which the limitation period has expired

11. Positive exchange rate differences

12. Amounts of revaluation of assets

13. Other income, including received from extraordinary circumstances (fires, accidents)

The composition of other expenses is specified in PBU 10/99 "Organization Expenses" as amended by orders of the Ministry of Finance of Russia No. 55-N dated 27.04.2012. In accordance with this document, other expenses are:

1. Expenses from the lease of the organization's assets

2. Expenses related to participation in the authorized capital of other organizations.

3. Expenses associated with the sale, write-off and disposal of property, plant and equipment and other assets

4. Interest on loans and borrowings

5. Expenses associated with payment for services to credit institutions

6. Contributions to estimated reserves (for doubtful debts, for depreciation of investments in securities, etc.)

7. Fines, penalties, forfeits paid for violation of the terms of contracts

8. Compensation for losses caused by the organization

9. Losses of previous years recognized in the reporting

10. Amounts of accounts receivable for which the limitation period has expired, and other debts that are unrealistic for collection

11. Negative exchange rate differences

12. The amount of the asset markdown

13. Transfer of funds related to charitable activities, expenses for sports events, recreation, entertainment, events of a cultural and educational nature, etc.

14. Other expenses, including those arising from extraordinary circumstances

To determine the financial result from other activities, account 91 "Other income and expenses" is used. The debit of the account reflects other expenses, and the credit - other income. The account is unbalanced, matching, operational and resultant.

The following sub-accounts are opened to account 91: 91-1 - other income, 91-2 other expenses, 91-9 - the balance of other income and expenses (intended to identify the financial result from other activities for the reporting month).

Records on sub-accounts 91-1 and 91-2 are made cumulatively during the reporting year. On a monthly basis, by comparing the debit turnover of account 91-2 and the credit turnover of account 91-1, the balance of other income and expenses (financial result from other activities) for the reporting month is determined.

The financial result from other activities on a monthly basis (final turnovers) is debited from account 91-9 to account 99. Thus, synthetic account 91 does not have a balance at the reporting date, it is not on the balance sheet.

Organizations receive the bulk of the profit from the sale of products, goods, works and services (realizable financial result). Profit from the sale of products (works, services) is determined as the difference between the proceeds from the sale of products (works, services) in current prices excluding VAT and excise taxes, export duties and other deductions provided for by the legislation of the Russian Federation, and the costs of its production and sale. The list of these costs is determined by the Regulation on the composition of costs ....

The financial result from the sale of products (works, services) is determined by account 90 "Sales". This account is designed to summarize information about income and expenses associated with the ordinary activities of the organization, as well as to determine the financial result of them. This account reflects, in particular, the proceeds and cost of: finished goods, semi-finished products of its own production and goods; works and services of industrial and non-industrial nature; purchased products (purchased for completing); construction, assembly, design and survey, geological exploration, research, etc. work; communication services and transportation of goods and passengers; transport and forwarding and loading and unloading operations; provision for a fee for temporary use (temporary possession and use) of their assets under a lease agreement, granting for a fee the rights arising from patents for inventions, industrial designs and other types of intellectual property, participation in the authorized capital of other organizations (when this is the subject of the organization ) etc.

The amount of proceeds from the sale of products, goods, performance of work, provision of services, etc. is 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 sold products, goods, works, services, etc. is debited from the credit of accounts 43 "Finished products", 41 "Goods", 44 "Sales costs", 20 "Main production", etc. to the debit of account 90 "Sales" ...

In organizations engaged in the production of agricultural products, the credit of account 90 "Sales" reflects the proceeds from the sale of products in correspondence with account 62 "Settlements with buyers and customers".

In the debit of account 90, the actual cost of production is written off from the credit of accounts for accounting for production costs. In those industries where the actual cost of production is determined at the end of the year (crop production, etc.), during the year the planned cost of production is written off to account 90. At the end of the year, the deviation of the actual cost of production from the planned one is determined and the detected deviation is written off to the debit of account 90 from the credit of accounts for accounting for production costs (by additional posting or by the "red storno" method).

In organizations that carry out retail trade and keep records of goods at sales prices, the credit of account 90 "Sales" reflects the sales value of the goods sold (in correspondence with the accounts of cash and settlements), and on debit - their book value (in correspondence with the account 41 "Goods") with the simultaneous reversal of the amounts of discounts (capes) related to the sold goods (in correspondence with account 42 "Trade margin").

Sub-accounts can be opened to account 90 "Sales":

90-1 "Revenue"; 90-2 "Cost of sales"; 90-3 "Value Added Tax"; 90-4 "Excise"; 90-9 "Profit / loss from sales". Subaccounts 90-1, 90-2, 90-3, 90-4 take into account the proceeds received from the sale of products, the cost of products sold, VAT and excise taxes charged, respectively.

Organizations - payers of export duties can open subaccount 90-5 "Export duties" to account 90 to record the amounts of export duties. Subaccount 90-9 "Profit / loss from sales" is designed to identify the financial result from sales for the reporting month.

Entries on sub-accounts 90-1, 90-2, 90-3, 90-4, 90-5 are made cumulatively during the reporting year. By monthly comparison of the aggregate debit turnover for sub-accounts 90-2, 90-3, 90-4 and 90-5 and credit turnover for sub-account 90-1, the financial result from sales for the reporting month is determined. The revealed profit or loss is written off from sub-account 90-9 to account 99 "Profit and loss" on a monthly basis with final entries. Thus, the synthetic account 90 "Sales" is closed monthly and has no balance as of the reporting date.

At the end of the reporting year, all sub-accounts opened to account 90 "Sales" (except for sub-account 90-9) are closed by internal records to sub-account 90-9 "Profit / loss from sales".

Analytical accounting for account 90 "Sales" is conducted for each type of products sold, goods, work performed and services rendered, and, if necessary, in other areas (by regions of sales, etc.).

Table 12. Journal of business transactions.

		Corr. accounts

	Reflected proceeds from the sale of products, goods, services, works
	Written off the cost of goods, products, works, services sold
	For the amount of taxes payable to contributions to budgets for tax purposes (on an accrual basis)
	On the amount of VAT due after receipt of payment for tax purposes (on a cash basis)

2.4 Accounting for other income and expenses

On the debit of account 91 "Other income and expenses", sub-account "Other expenses" during the reporting period, other expenses are reflected:

The costs associated with the provision for a fee for temporary use (temporary possession and use) of the organization's assets;

Costs associated with the granting of rights arising from patents for inventions, industrial designs and other types of intellectual property for a fee;

Expenses related to participation in the authorized capital of other organizations;

Expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash (except foreign currency), goods, products;

Interest paid by the organization for the provision of funds (credits, loans) to it for use;

Expenses related to payment for services rendered by credit institutions;

Deductions to estimated reserves created in accordance with accounting rules (reserves for doubtful debts, for the depreciation of financial investments, etc.), as well as reserves created in connection with the recognition of contingencies of economic activity;

Fines, penalties, penalties for violation of the terms of contracts;

Compensation for losses caused by the organization;

Losses of previous years recognized in the reporting year;

Amounts of receivables for which the limitation period has expired, other debts that are unrealistic for collection;

Exchange differences;

The amount of the asset markdown;

Transfer of funds (contributions, payments, etc.) related to charitable activities, expenses for sports events, recreation, entertainment, etc.

Sub-account 9 "Balance of other income and expenses" of account 91 is designed to identify the balance of other income and expenses for the reporting month.

Entries on sub-accounts 91-1 "Other income" and 91-2 "Other expenses" are made cumulatively during the reporting year. Monthly comparison of debit turnover on subaccount 91-2 "Other expenses" and credit turnover on subaccount 91-1 "Other income" determines the balance of other income and expenses for the reporting month. This balance is written off monthly (final turnovers) from subaccount 91-9 "Balance of other income and expenses" to account 99 "Profits and losses". Thus, the synthetic account 91 "Other income and expenses" has no balance at the reporting date.

At the end of the reporting year, all sub-accounts opened to account 91 "Other income and expenses" (except for sub-account 91-9 "Balance of other income and expenses") are closed by internal records to sub-account 91-9 "Balance of other income and expenses". The formation of the financial result from other operations occurs according to the following scheme.

Other income (turnover on account 91 credit)

Other expenses (turnover on the debit of account 91)

The difference between other income and expenses (account balance 91)

Fig 9. Scheme of the formation of the financial result on account 91 "Other income and expenses"

At manufacturing enterprises, the purpose of reflecting business transactions for the release and sale of finished products in the accounting accounts is to identify the financial result (profit or loss) from the sale of products. The financial result is calculated on a monthly basis on the basis of documents confirming the sale of products.

To summarize information about the sale of finished products, as well as to determine its financial results, account 90 “Sales” is intended. The credit of this account reflects the proceeds from the sale of products at selling prices, and the debit reflects the production cost of products sold, commercial expenses, the cost of packaging paid in excess of the price of products, value added tax, excise taxes and other expenses. Thus, the debit of account 90 “Sales” reflects the full actual cost of goods sold, taxes and deductions, and the credit shows the amounts presented to buyers for payment at selling prices.

At the end of the month, turnovers are calculated on the debit and credit of account 90 “Sales”. By comparing the credit turnover with the debit turnover, the financial result from the sale of products (profit or loss) is revealed. If the credit of account 90 "Sales" turns out to be more than the debit, then a profit is received, which at the end of the month is completely written off to increase the company's profit and is reflected in the accounting records:

Debit account 90 Sales "

In the event that the debit of account 90 "Sales" turns out to be more than the credit, then a loss is received, which is written off to reduce the profit of the enterprise. In this case, the following entry is made in accounting:

Debit account 99 "Profit or loss"

Credit account 90 "Sales"

The reflection of losses from the sale of products by the above-mentioned record is provided for by the current instructions for the use of the Chart of Accounts for the financial and economic activities of enterprises and organizations. Unfortunately, this methodology for writing off the amounts of losses in practice sometimes leads to an erroneous overestimation of the volume of sales of products, which, in turn, distorts the taxable base for calculating taxes, fees and deductions, for which the basic indicator is the volume of sales of products. In this regard, it would be more expedient to reflect the loss from the sale of products with the following reversal entry:

Debit account 90 "Sales"

Credit account 99 "Profit or loss"

In this case, there is no overestimation of the volume of sales of products. In addition, uniformity is achieved in reflecting the financial result from product sales.

Manufacturing enterprises to account 90 “Sales” can open the following sub-accounts to reflect the individual components of the financial result from sales: 90-1 “Sales revenue”; 90-2 “Cost of sales”; 90-3 “Value Added Tax”; 90-4 "Excise"; 90-5 “Export duties”; 90-9 “Profit / loss from sales”, etc.

Entries on the above sub-accounts are made cumulatively during the reporting year. At the end of each month, the sum of the totals of debit turnovers for sub-accounts 90-2, 90-3, 90-4, 90-5 is compared with the total of credit turnovers for sub-account 90-1. The reported result represents the profit or loss on sales for the month. This amount must be written off by the final turnover of the reporting month from account 90-9 to account 99 “Profits and losses”. In this case, synthetic account 90 “Sales” has no balance at the end of the month. However, all sub-accounts of this account have either a debit or a credit balance, the amount of which is accumulated starting from January of the reporting year. It should be borne in mind that by the end of the reporting year there should be no write-offs for all sub-accounts of account 90 “Sales”.

In December of the reporting year, after writing off the financial result for the specified month, all sub-accounts opened to account 90 “Sales” (except for sub-account 90-9) must be closed by internal records to sub-account 90-9. As a result of the entries made on January 1 of the new reporting year, none of the subaccounts will have a balance.

The above procedure for reflecting transactions on account 90 “Sales” allows not only to calculate the result from the sale of products (works, services) for the reporting month, but also provides the information necessary to generate cumulative data for the statement of financial results.