The financial result represents an increase (or decrease) in value equity organization formed in the process of its entrepreneurial activity during the reporting period.
The summary (integrating) indicator characterizing the financial result of a business entity is book profit or loss.
In construction organizations, profit is generated mainly in the process of implementing construction projects. installation work what is the difference between sales revenue (excluding VAT) and actual cost performing construction and installation work.
At the core commercial activities lies the profit. It performs two important functions:
- characterizes the financial results of the organization’s activities, the size of its cash savings. The amount of profit depends on the volume of sales, on the quality of work performed, services (manufactured products), on the rational and efficient use of fixed assets, material and labor resources and other factors;
- profit is the main source of financing the costs of production and social development organization, and payments to the budget from profits - essential element state income.
This means that the organization’s income must satisfy not only its financial needs, but also the needs of the state to finance public consumption funds, the development of science, healthcare, education, and national defense.
We know that the financial result from the implementation construction and installation work is determined by two methods.
When applying the first method, the financial result of the contracting construction organization is determined for the reporting period of time after the complete completion of work on individual structural elements or stages provided for by the project, as the difference between the cost of the volumes of work performed and the costs associated with them.
The volume of work performed is determined in in the prescribed manner, based on their contractual value and the methods used for its calculation.
Application of this calculation method financial result allowed in cases where the volume of work performed and the costs associated with it can be determined with sufficient accuracy. The costs associated with the work performed are determined by the direct method or by calculation.
When using the “Income based on the cost of the construction project” method, it is envisaged to determine the financial result of the contractor when complete completion work at the construction site.
The choice of method for determining the financial result is made by the contractor construction organization depending on the degree of reliability of the assessment of the cost of the work performed and the costs associated with them for the construction project.
An organization can use when determining the financial result from sales contract work simultaneously both of these methods when accounting for work performed according to various agreements for construction. This order reflections in accounting income and financial results are determined normative document- PBU2/94 “Accounting for agreements (contracts) for capital construction"(Order of the Ministry of Finance of the Russian Federation No. 167 of December 20, 1994) and is valid from January 1, 1995.
Any financial result commercial organization is determined not only by the result of the main activity. The overall financial result of the organization is influenced by the result from other income and expenses, i.e. from operational, non-operating and emergency.
The scheme for the formation of the overall financial result is presented in Fig. 7.

To reflect the financial result from common species activities (from the main activity) in the unified chart of accounts, account 90 “Sales” is intended. This account reflects revenue and cost, and generates the financial result. As a rule, subaccounts are opened for account 90 “Sales”:
90-1 “Revenue”;
90-2 “Cost of sales”;
90-3 “Value added tax”;
90-4 “Excise duties”;
90-9 “Profit (loss) from sales.”
Entries on subaccounts 90-1, 90-2, 90-3, 90-4 are made cumulatively over reporting year. By monthly comparison of debit turnover in subaccounts 90-2 “Cost of sales”, 903 - VAT, 90-4 “Excise taxes” and credit turnover in account 90-1 “Revenue”, the financial result (profit or loss) from sales for the reporting month is determined. This financial result is written off monthly (with final turnover) from subaccount 90-9 “Profit (loss) from sales” to account 99 “Profits and losses”.
Thus, the synthetic account 90 “Sales” balance on reporting date does not have.
At the end of the reporting year, all subaccounts opened to account 90 (except for account 90-9) are closed with internal entries to subaccount 90-9 “Profit (loss) from sales.”
Analytical accounting is carried out for each construction project, type of product produced, services provided, etc.
To reflect the financial result from other income and expenses, account 91 “Other income and expenses” is provided. This account reflects operating and non-operating income and expenses. Extraordinary income and expenses are reflected immediately in account 99 “Profits and losses”.
TO this account Sub-accounts can also be opened:
91-1 “Other income”;
91-2 “Other expenses”;
91-3 “VAT on other income”;
91-9 “Balance of other income and expenses.”
Analytical accounting is carried out in the context of each type of other income and expenses. During the reporting year, entries in these sub-accounts are kept cumulatively, similar to the sub-accounts of account 90 “Sales” and are also closed at the end of the reporting year with internal entries.
Account 99 “Profits and losses” is intended to reflect the overall financial result.
The final financial result (net profit or net loss) consists of the financial result from ordinary activities, as well as other income and expenses, including extraordinary ones. The debit of account 99 “Profits and Losses” reflects losses (losses, expenses), and the credit reflects the profits (income) of the organization. A comparison of debit and credit turnover for the reporting period shows the financial result of the reporting period.
During the reporting year, account 99 “Profits and losses” reflects:
- profit or loss from ordinary activities - in correspondence with account 90 “Sales”;
- the balance of other income and expenses for the reporting month - in correspondence with account 91 “Other income and expenses”;
- losses, expenses and income in connection with emergency circumstances economic activity (disaster, fire, accident, nationalization, etc.) - in correspondence with accounting accounts material assets, settlements with personnel for wages, Money and so on.;
- accrued payments of income tax and payments for recalculation of this tax from actual profit, as well as the amounts due tax sanctions- in correspondence with account 68 “Calculations for taxes and fees”.
At the end of the reporting year, when preparing annual financial statements, account 99 “Profits and losses” is closed. In this case, by the final entry of December, the amount of net profit (loss) of the reporting year is written off from account 99 “Profits and losses” to the credit (debit) of account 84 “Retained earnings ( uncovered loss)».
The construction of analytical accounting for account 99 “Profits and losses” should ensure the generation of data necessary for drawing up a profit and loss report.

Currently, in accounting there are four types of stages of profit accrual: - gross profit; - profit (loss) from sales;- profit (loss) before taxation; - net profit (retained profit (loss) of the reporting period). All revenue of an enterprise minus production costs (cost) is called gross profit(count 90). Net profit is integral part gross and is responsible for the amounts remaining after taxes. (count 99), i.e. net profit = profit before tax + deferred tax assets + deferred tax obligations minus current income tax. Profit (loss) from sales represents gross profit minus administrative and commercial expenses (account 90) Profit (loss) before tax– this is profit from sales taking into account other income and expenses (account 99). Information on types of profit is generated on accounts 90 “Sales”; 99 “Profits and losses”; 84 "(works, services). Account 90 “Sales” provides for the opening of separate sub-accounts: 90-1 “Revenue” - intended to account for revenue from sales of products, goods, works, services; 90-2 “Cost of sales” - is intended to account for the cost of products sold (goods, works, services); 90-3 “Value added tax” - is intended to account for VAT included in the price of products sold (goods, works, services); 90-4 “Excise taxes” - intended to account for the amount of excise taxes included in the price of products (goods) sold; Similarly, a subaccount may be provided to account for sales tax and other targeted payments that make up prices; 90-9 - “Profit/loss from sales” - is intended to determine the financial result (profit or loss) from sales for the reporting month. Entries in subaccounts 90-1 “Revenue”, 90-2 “Cost of sales”, 90-3 “Value added tax”, 90-4 “Excise taxes” are made cumulatively during the reporting year. at the supplier. The transfer of products for safekeeping must be documented with appropriate documents. At the end of each month, the sum of the totals of debit turnovers for subaccounts 90-2, 90-3, 90-4, etc. is compared. with the result credit turnover according to subaccount 90-1. The resulting result will represent the profit or loss on sales for the month. This amount is written off with the final turnover of the reporting month by posting: a) if a profit is made - D-t90 “Sales”, subaccount 9 “Profit/loss from sales” K-t 99 “Profits and losses”;", "Net profit", "Profit from sales", "Profit before tax". 3. On what accounts is information on types of profit generated? 4. List the subaccounts to account 90 “Sales”. 5. How is account 90 and its subaccounts closed? Literature: Basic Additional Homework: prepare for the topic Composition and content of forms financial statements Topic 1.5. Composition and content of financial reporting forms Plan 1. Requirements for the financial reporting of the organization 2. Composition and content of the financial reporting forms Purpose: to have an idea of ​​the composition and content of the financial reporting forms The student must: Know: - requirements for the financial reporting of the organization; - composition and content of financial reporting forms 1. Requirements for the financial reporting of an organization The basic requirements for the preparation of financial reporting are regulated Federal law "About accounting" and annex on accounting "Accounting statements of the organization." Based on the same fundamental principles and accounting rules for all organizations that are legal entities , regardless of the organizational and legal form, reporting indicators must be interconnected and complement each other. The information contained in the reporting must meet certain qualitative signs: understandability, completeness, reliability, materiality, neutrality, comparability. The clarity of the information provided in the financial statements is and financial results of the organization. An indicator is considered significant if its absence from reporting could affect economic decisions users, accepted on the basis of reporting information. When forming reporting indicators, the organization itself will determine the degree of materiality of a particular indicator depending on its assessment, nature and specific circumstances of its occurrence. In this case, an amount is considered significant, the ratio of which to the total total of the relevant data for reporting period is at least 5%. The organization may decide to apply for the purposes of reflection in the financial statements essential information another criterion different from the one specified. Based on the principle of materiality, indicators about individual assets , liabilities, income, expenses and business transactions , as well as components of capital, must be presented separately in the financial statements if they are significant, if without knowledge of them by interested users it is impossible to assess the financial position or financial result of the organization. Each significant indicator is presented separately in the financial statements. Immaterial amounts of similar nature or significance may be combined. Selected indicators , not essential for their separate reflection in balance sheet and income statement, may be quite significant for their in the explanations to the financial statements, without knowledge of which users will not be able to evaluate past, present or future events. Neutrality of reporting information implies its impartiality in relation to any users of financial statements. Therefore, based on this principle, when preparing financial statements, an organization should exclude unilateral satisfaction of the interests of some groups of users of financial statements over others. Comparability of financial statements provides for the possibility of comparing reporting data with the indicators of the previous reporting period. Therefore, in accordance with this requirement, for each indicator of the financial statements, data must be provided for at least two years - the reporting year and the one preceding the reporting one, otherwise the reporting data cannot characterize the dynamics of the organization’s work and, therefore, lose their analytical nature. Drawing up financial statements in comparable units allows for comparability of data on the activities of similar organizations. Comparability of indicators is achieved through consistency of application accounting policy from one reporting period to another. - profit (loss) from sales; Compliance with the specified accounting principles and requirements for the preparation of financial statements contributes to the fact that users of reporting information can form a true and objective picture of the activities of the organization of interest to them.
2. Composition and content of financial reporting forms Currently, in accounting there are four types of stages of profit accrual: - gross profit; — profit (loss) from sales; — profit (loss) before tax; — net profit (retained profit (loss) of the reporting period). All revenue of an enterprise minus production costs (cost) is called integral part(count 90). tax obligations– this is the profit from sales taking into account other income and expenses (account 99). Information on types of profit is generated on accounts 90 “Sales”; 99 “Profits and losses”; 84 “Retained earnings”. The majority of the profit comes from profit (loss) received from the sale of products. Synthetic accounting for product sales depends on the chosen method of accounting for product sales (“by shipment”, “by payment”). Regardless of the chosen sales method, active-passive account 90 “Sales” and sub-account “Revenue” are used to account for sold products (works, services). With the help of this account, the result of the organization’s economic activities is revealed in terms of produced and sold products (works, services). Account 90 “Sales” provides for the opening of separate sub-accounts: 90-1 “Revenue” - intended to account for revenue from sales of products, goods, works, services; 90-2 “Cost of sales” - is intended to account for the cost of products sold (goods, works, services); 90-3 “Value added tax” - intended to account for VAT included in the price of products sold (goods, works, services); 90-4 “Excise taxes” - intended to account for the amount of excise taxes included in the price of products (goods) sold; Similarly, a subaccount may be provided to account for sales tax and other targeted payments that make up prices; 90-9 - “Profit/loss from sales” - is intended to determine the financial result (profit or loss) from sales for the reporting month. Entries in subaccounts 90-1 “Revenue”, 90-2 “Cost of sales”, 90-3 “Value added tax”, 90-4 “Excise taxes” are made cumulatively during the reporting year. During the month, on account 90 “Sales”, the cost of shipped (dispensed) products (including VAT, excise taxes, sales tax and other similar payments) is reflected by the entry: Dt 62 “Settlements with buyers and customers” Kt 90 “Sales” , subaccount “Revenue”. At the same time, the cost price of products shipped or presented to the buyer is written off: D-t 90 “Sales”, subaccount “Cost of sales” K-t 43 “Finished products”. For the amount of VAT and other similar payments received as part of revenue using the “by shipment” sales method, an entry is made: D-t 90 “Sales”, sub-account “Value Added Tax” K-t 68 “Calculations for taxes and fees”. Similarly, a subaccount may be provided to account for sales tax and other targeted payments that make up prices; The organization's debt to the budget for VAT arises after the buyer pays for the products. In this case, the VAT amount is reflected in: D-t 90 “Sales”, subaccount “Value Added Tax” K-t 76 “Settlements with various debtors and creditors”. After shipment of products (performance of work, provision of services): Dt 62 “Settlements with buyers and customers”, subaccount “Advances received” Kt 62 “Settlements with buyers and customers” and at the same time: Dt 62 “Settlements with buyers and customers" K-t 90 "Sales", subaccount "Revenue". The cost of products paid for, but not removed from the territory of the manufacturer, is included in the sales volume in cases where it can be left for safekeeping with the supplier. The transfer of products for safekeeping must be documented with appropriate documents. At the end of each month, the sum of the totals of debit turnovers for subaccounts 90-2, 90-3, 90-4, etc. is compared. with the total of credit turnover in subaccount 90-1. The resulting result will represent the profit or loss on sales for the month. This amount is written off with the final turnover of the reporting month by posting: a) if a profit is made - D-t90 “Sales”, subaccount 9 “Profit/loss from sales” K-t 99 “Profits and losses”; b) if a loss is received - D-t 99 “Profits and losses” D-t 90 “Sales”, subaccount 9 “Profit/loss from sales”. Thus, the synthetic account 90 “Sales” has no balance at the end of each month. Example. The organization sold completed work in the amount of 480,000 rubles, incl. VAT - 80,000 rub. The cost of sold works is RUB 250,000. Revenue for tax purposes is determined by the “shipment” method. In the accounting records of the organization, operations related to the sale of work must be reflected in the following entries: 1. Completed work delivered D-t 62 “Settlements with buyers and customers” K-t 90 “Sales”, sub-account “Revenue” - 480,000 rubles. 2. VAT is charged on completed work D-t 90 “Sales”, sub-account “Value Added Tax” K-t 68 “Calculations for taxes and fees”, sub-account “Calculations for VAT” - 80,000 rubles. 3. The cost of the goods delivered has been written off. works D-t 90 “Sales”, subaccount “Cost of sales” Kt 20 “Main production” -250,000 rub. Financial result from the sale - profit (480,000 - 80,000 - 250,000 = 150,000 rubles) D-t 90 “Sales”, sub-account “Profit/loss from sales” D-t 99 “Profits and losses” - 150,000 rubles. In December of the reporting year, after writing off the financial result for the specified month, final entries are made within account 90 “Sales” to close all subaccounts. Subaccounts 90-2, 90-3, 90-4 are closed with credit entries to the debit of subaccount 90-9. The amount of subaccount 90-1 is written off from the debit to the credit of subaccount 90-9. As a result of such an operation, as of January 1 of the new reporting year, none of the subaccounts of account 90 “Sales” has a balance. Questions for self-control: 1. List the stages of profit accrual 2. Define the concepts of “Gross profit”, “Net profit”, “Profit from sales”, “Profit before tax”. 3. On what accounts is information on types of profit generated? 4. List the subaccounts to account 90 “Sales”. 5. How is account 90 and its subaccounts closed? Literature: Basic Additional Homework: prepare for the topic Composition and content of financial reporting forms Topic 1.5. Composition and content of financial reporting forms Plan 1. Requirements for the organization's financial reporting 2. Composition and content of financial reporting forms Purpose: to have an idea of ​​the composition and content of the forms accounting statements The student must: Know: - requirements for the organization's financial statements; — composition and content of the forms of financial statements 1. Requirements for the financial statements of an organization The basic requirements for the preparation of financial statements are regulated by the Federal Law “On Accounting” and the accounting annex “Accounting statements of an organization”. Based on the same fundamental principles and rules of accounting for all organizations that are legal entities, regardless of their legal form, reporting indicators must be interconnected and complement each other. The information contained in the reporting must meet certain qualitative criteria: clarity, completeness, reliability, materiality, neutrality, comparability. The clarity of the information provided in the financial statements is the most important quality by which the statements become useful to users. The essence of this quality of information is that the content of financial statements should be understandable to users, even if they do not have special professional training. Accounting statements prepared in accordance with the rules established by regulations on accounting are considered reliable and complete, and their data give a true picture of the financial position and financial results of the organization, as well as changes and financial position. The significance of the indicators contained in the financial statements is determined not so much by their quantitative expression, but by the role played by the presence of certain information in assisting interested users in assessing the financial position and financial performance of the organization. An indicator is considered significant if its absence in the reporting may affect the economic decisions of users made on the basis of the reporting information. When forming reporting indicators, the organization itself will determine the degree of materiality of a particular indicator depending on its assessment, nature and specific circumstances of its occurrence. In this case, an amount is considered significant if its ratio to the total of the relevant data for the reporting period is at least 5%. An organization may decide to apply another criterion, different from the one specified, for the purpose of reflecting material information in its financial statements. Based on the principle of materiality, indicators about individual assets, liabilities, income, expenses and business transactions, as well as components of capital, should be presented separately in the financial statements if they are material, if without knowledge of them by interested users it is impossible to assess the financial position or financial result of the organization. Each significant indicator is presented separately in the financial statements. Immaterial amounts of similar nature or significance may be combined. Individual indicators that are not significant for their stand-alone presentation in the balance sheet and income statement may be sufficiently significant for their stand-alone presentation in the notes to the financial statements, without knowledge of which users will not be able to assess past, present or future events. Neutrality of reporting information implies its impartiality in relation to any users of financial statements. Therefore, based on this principle, when preparing financial statements, an organization should exclude unilateral satisfaction of the interests of some groups of users of financial statements over others. Comparability of financial statements provides for the possibility of comparing reporting data with the indicators of the previous reporting period. Therefore, in accordance with this requirement, for each indicator of the financial statements, data must be provided for at least two years - the reporting year and the one preceding the reporting one, otherwise the reporting data cannot characterize the dynamics of the organization’s work and, therefore, lose their analyticity. Drawing up financial statements in comparable units allows for comparability of data on the activities of similar organizations. Comparability of indicators is achieved through the consistency of application of accounting policies from one reporting period to another. Compliance with these accounting principles and requirements when preparing financial statements helps users of reporting information to form a true and objective picture of the activities of the organization they are interested in. 2. Composition and content of financial reporting forms

Introduction

Purpose industrial practice in accounting is to consolidate the knowledge acquired in educational process, obtaining professional skills in accounting at an enterprise, as well as collecting initial data for course design.

To achieve the goal within the framework of industrial practice in accounting, it is necessary to solve the following tasks:

Familiarization with the structure of the enterprise, familiarization with the financial and economic activities of the enterprise;

Drawing up financial reporting forms;

Formation of the organization’s accounting policy for accounting purposes;

Compilation tax returns on taxes and fees to the budget, statistical reporting forms;

Drawing up forms for calculating insurance contributions to state extra-budgetary funds;

Control and analysis of the property and financial position of the organization;

Analysis of indicators of other forms of financial statements.

The limited liability company "Meat-processing plant "Friendship of Peoples" was chosen as the object of practical training in accounting. The period of practical training in accounting was from 04/06/2016 to 04/19/2016.

A senior accountant was appointed as the head of production practice in accounting from the enterprise. of this enterprise Settarova Zera Rustemovna, who has production experience 15 years.

> Determining the results of economic activities for the reporting period and drawing up financial reporting forms

> Familiarization with the structure of the enterprise, familiarization with the financial and economic activities of the enterprise

Analyzed object Society with Limited Liability“The Meat Processing Plant “Friendship of Peoples” was created in accordance with Civil Code Russian Federation and the Federal Law of the Russian Federation “On Limited Liability Companies”. Location of the Company - Russian Federation, 297012 Republic of Crimea, Krasnogvardeisky district, Petrovka village, Industrial Zone, 1. By to this address the executive body of the Company is located - CEO- Mudrik Tatyana Anatolyevna.

The main goal of the Company’s activities is to obtain profit from the implementation of financial and economic activities.

Table 1.1 - a brief description of enterprises

Index	Characteristic
Full name of the enterprise	Limited Liability Company "Meat Processing Plant "Friendship of Peoples"
Short name of the enterprise	LLC Meat Processing Plant Friendship of Peoples
Date of establishment of the enterprise
Legal address of the enterprise	Russian Federation, 297012 Republic of Crimea, Krasnogvardeisky district, Petrovka village, Industrial zone, 1
Form of ownership of the enterprise	Private joint and foreign ownership
Organizational form of the enterprise	Limited Liability Company
Main activity of the enterprise	Production of meat and food by-products of cattle, pigs, sheep, goats, equines; Production of meat and poultry products; Provision of services in the field of livestock husbandry, except veterinary services
Study period	06.04.2015 - 19.04.2015
Average headcount enterprises	605 people
Accounting form	Journal - order

The subject of the Company's activities is:

Production of meat and food by-products of cattle, pigs, sheep, goats, equines

Production of meat and poultry products

Provision of services in the field of livestock husbandry, except veterinary services

The Company operates on the basis of the Charter approved by the Resolution general meeting participants - Protocol No. 4 of February 16, 2015 (Appendix A).

Society has its own organizational chart enterprise, approved by the General Director (Appendix B). Supreme executive body The Company is the General Director, followed by the Deputy Director for Production Issues. Then follows the division into services:

Chief Engineer

Dispatching service

Head of Quality Department

Chief technologist

Chief Accountant

Chief Economist, etc.

To get acquainted with the financial and economic activities of the Company, an analysis of the main performance indicators was carried out.

Table 1.2 - Main performance indicators of Druzhba Narodov Meat Processing Plant LLC for 2014-2015.

Indicators			Deviations
absolute values	Growth rate,
1. Revenue
2. Cost of sales
3. Gross profit
4. Business expenses
5. Management expenses
6. Profit (loss) from sales
7. other income
8. Other expenses
9. Current tax at a profit
10. Net profit
11. Average number of employees, people
12. Average monthly salary of an employee, rub.
16. Expenses per 1 rub. revenue (page 2/page 1)

As the table data shows, we see that revenue in 2015 increased by 125,177 thousand rubles, which amounted to 17.6%. Cost of sales increased by 106,813 thousand rubles, which amounted to 17.6%. Gross profit increased by 18,364 thousand rubles, which amounted to 17.6%. Selling expenses increased by 9919 thousand rubles, which amounted to 17.6%. Administrative expenses increased by 4841 thousand rubles, which amounted to 17.6%. Profit from sales increased by 3,604 thousand rubles, which amounted to 17.6%. Other income increased by 3,314 thousand rubles, which amounted to 17.6%. Other expenses also increased by 4984 thousand rubles, which amounted to 17.6%. The current income tax increased by 1,376 thousand rubles, which amounted to 17.6%. Net profit increased by 558 thousand rubles, which amounted to 17.6%. The average number of employees increased by 105 people, which amounted to 21%. The average monthly salary of an employee also increased by 500 rubles, which amounted to 2.7%. Expenses per 1 rub. revenue remained unchanged and amounted to 0.8.