Accounting for financial results in brief. Accounting for income, expenses and financial results

The procedure for generating and accounting for financial results

Accounting profit (loss) represents the final financial result (profit or loss) identified for reporting period based accounting everyone business transactions organizations during this period. It represents the difference between the organization’s income, determined in accordance with PBU 9/99 “Income of the organization,” and the organization’s expenses, determined in accordance with PBU 10/99 “Expenses of the organization.”

The formation of financial results in accordance with the Chart of Accounts is carried out on the basis of the use of accounts 90 “Sales”, 91 “Other income and expenses” and 99 “Profits and losses”.

Account 90 “Sales” is intended for systematizing and accumulating information on income and expenses for conducting ordinary activities of the organization. It forms the financial result from the main activities, which constitute the main purpose of creating the organization. The chart of accounts recommends the following subaccounts:

1. 90-1 “Revenue”, subaccount is intended to summarize information about revenue;

2. 90-2 “Cost of sales”, the subaccount is intended to summarize information about the cost of sales;

3. 90-3 “Value Added Tax”, the sub-account is intended to summarize information on the amounts of VAT to be received from the buyer;

4. 90-4 “Excise taxes”, the sub-account is intended to summarize information on the amounts of excise taxes to be received from the buyer;

5. 90-9 “Profit/loss from sales”, is intended to identify the financial result (profit or loss) from sales for the reporting month.

Entries for subaccounts 90-1, 90-2, 90-3, 90-4 are made cumulatively during the reporting year. The financial result is determined monthly by comparing credit and debit turnover on these subaccounts, which is written off with final turnover from subaccount 90-9 “Profit/loss from sales” to account 99 “Profit and loss”. Thus, the synthetic account 90 “Sales” balance on reporting date does not have.

At the end of the reporting year, subaccounts 90-1, 90-2, 90-3, 90-4 are closed with internal entries to subaccount 90-9 “Profit/loss from sales”. Then subaccount 90-9 is closed in correspondence with account 99 “Profits and losses”. There should be no balance on this account on the first day of the new year.

Account 91 “Other income and expenses” reflects all operating and non-operating income and expenses (except for extraordinary income and expenses, as well as income tax expenses). The chart of accounts recommends the following subaccounts:

91-1 “Other income”, the subaccount is intended to summarize information about other income;

91-2 “Other expenses”, the subaccount is intended to summarize information on other expenses;

91-9 “Balance of other income and expenses”, the subaccount is intended to identify the financial result from other types of activities.

The procedure for generating information on account 91 is similar to account 90. On the first day of the new year, there should be no balance on this account.

The final financial result of the organization's activities for reporting year are identified on account 99 “Profits and losses”, records for which are kept cumulatively throughout the year.

According to the Chart of Accounts, account 99 during the reporting year reflects the following information:

1. Profit (loss) from ordinary activities;

2. Profit (loss) from other activities;

3. Expenses and income in connection with emergency circumstances economic activity (disaster, fire, accident, etc.);

4. Amounts of income tax, tax sanctions.

The debit of account 99 “Profits and losses” reflects losses (expenses), and the credit of the organization’s profits (income). Comparison of debit and credit turnover for the reporting period, the final financial result of this period is revealed. At the end of the reporting year, account 99 “Profits and losses” is closed in correspondence with account 84 “Retained earnings (uncovered loss)”. There should be no balance on this account on the first day of the new year.

The proposed technology for processing information on accounts 90, 91 and 99 allows for the generation of data necessary for drawing up a profit and loss report.

After studying this chapter you will learn:
^ about the concept of “income” and classification of income;
^ about the concept of “expenses” and classification of expenses;
^ on the procedure for accounting for income and expenses from the main activity;
^ on the procedure for accounting for other income and expenses;
^ about the concept of “financial results” and the order of reflection financial results in accounting;
^ on the reflection in accounting registers of income, expenses and financial results at agricultural enterprises;
^ about typical correspondence of accounts for recording income, expenses and generating financial results. basic regulations Civil Code Russian Federation. tax code Russian Federation. the federal law No. 129-FZ “On Accounting” dated November 21, 1996. Regulations on accounting and reporting in the Russian Federation. Chart of accounts for accounting financial and economic activities of organizations and Instructions for its use. PBU 1/98 " Accounting policy organizations." PBU 9/99 “Income of the organization.”
PBU 10/99 “Organization expenses”. PBU 4/99 “Accounting statements of an organization.” PBU 18/02 “Accounting for income tax calculations.” Order of the Ministry of Finance of Russia dated July 22, 2003 No. 67n “On forms financial statements organizations." Guidelines on inventory of property and financial obligations.

More on the topic Chapter 13 Accounting for income, expenses and the formation of financial results:

1. Income and expenses of the insurance organization, its financial results
2. 3.4. Analysis of future income, expenses and financial results
3. Topic 15. Formation of final financial results and accounting of the organization’s equity capital
4. tasks of a comprehensive analysis of income and expenses, financial results, its information and organizational support

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