22 is supplemented by a substantial guarantee. Correction of the primary accounting document, order with the right to sign
PBU PBU 22/2010 establishes the rules for correcting errors and the procedure for disclosing information about errors in the accounting and reporting of organizations - legal entities under Russian law.
The requirements of the Regulations do not apply to credit organizations, as well as to state (municipal) institutions.
Registered with the Ministry of Justice of Russia on July 30, 2010
Ministry of Finance Russian Federation
On approval of the Accounting Regulations “Correcting Errors in Accounting and Reporting” PBU 22/2010
As amended: October 25, 2010 N 132n; 08.11.2010 N 144n;
04/27/2012 N 55n.
See the text of the document in .pdf format
(corresponds to the publication on the site
Ministry of Finance of Russia: http://www.minfin.ru)
In order to improve legal regulation in the field accounting And financial statements and in accordance with the Regulations on the Ministry of Finance of the Russian Federation, approved by Decree of the Government of the Russian Federation of June 30, 2004 N 329 (Collected Legislation of the Russian Federation, 2004, N 31, Art. 3258; N 49, Art. 4908; 2005, N 23 , Art. 2270; N 52, Art. 5755; 2006, N 32, Art. 3569; N 47, Art. 4900; 2007, N 23, Art. 2801; N 45, Art. 5491; 2008, N 5, Art. 411; N 46, Art. 5337; 2009, N 3, Art. 378; N 6, Art. 738; N 8, Art. 973; N 11, Art. 1312; N 26, Art. 3212; N 31, Art. 3954; 2010, N 5, Art. 531; N 9, Art. 967; N 11, Art. 1224), I order:
1. Approve the attached accounting document “Correction of errors in accounting and reporting” (PBU 22/2010).
2. Establish that this Order comes into force with the annual financial statements for 2010.
Deputy
Chairman of the Government
Russian Federation -
Minister of Finance
Russian Federation
A.L. Kudrin
Approved
by order of the Ministry of Finance
Russian Federation
dated June 28, 2010 N 63n
Accounting Regulations
"Correcting errors in accounting and reporting"
I. General provisions
1. These Regulations establish the rules for correcting errors and the procedure for disclosing information about errors in the accounting and reporting of organizations that are legal entities according to the legislation of the Russian Federation (with the exception of credit institutions and state (municipal) institutions) (hereinafter referred to as organizations).
(as amended by Order of the Ministry of Finance of Russia dated October 25, 2010 N 132n)
2. Incorrect reflection (non-reflection) of facts economic activity in the accounting and (or) financial statements of an organization (hereinafter referred to as an error) may be due, in particular, to:
incorrect application of the legislation of the Russian Federation on accounting and (or) regulatory legal acts on accounting;
incorrect application of the organization's accounting policies;
inaccuracies in calculations;
incorrect classification or assessment of facts of economic activity;
incorrect use of information available at the date of signing the financial statements;
unfair actions of officials of the organization.
Inaccuracies or omissions in the reflection of the facts of economic activity in the accounting and (or) financial statements of the organization, identified as a result of receiving new information, which was not available to the organization at the time of reflection (non-reflection) of such facts of economic activity.
3. An error is considered significant if it is individually or in combination with other errors for the same reporting period may affect economic decisions users, accepted by them on the basis of financial statements compiled for this reporting period. The organization determines the materiality of the error independently, based on both the size and nature of the relevant item(s) of the financial statements.
II. Error correction procedure
4. Identified errors and their consequences are subject to mandatory correction.
5. An error in the reporting year identified before the end of that year is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was identified.
6. An error in the reporting year identified after the end of this year, but before the date of signing the financial statements for this year, is corrected by entries in the corresponding accounting accounts for December of the reporting year (the year for which the annual financial statements are prepared).
7. A significant error in the previous reporting year, identified after the date of signing the financial statements for this year, but before the date of presentation of such statements to shareholders joint stock company, participants in a limited liability company, a government body, a local government body or another body authorized to exercise the rights of the owner, etc., is corrected in the manner established by these Regulations. If the specified financial statements were presented to any other users, then they must be replaced with statements in which the identified significant error has been corrected (revised financial statements).
8. A significant error in the previous reporting year, identified after the presentation of the financial statements for this year to shareholders of a joint-stock company, participants in a limited liability company, a state authority, local government or other body authorized to exercise the rights of the owner, etc., but before date of approval of such reporting in the manner established by the legislation of the Russian Federation, is corrected in the manner established by these Regulations. At the same time, the revised financial statements disclose information that these financial statements replace the originally presented financial statements, as well as the basis for preparing the revised financial statements.
The revised financial statements are submitted to all addresses to which the original financial statements were submitted.
9. A significant error of the previous reporting year, identified after approval of the financial statements for this year, is corrected:
1) entries on the relevant accounting accounts in the current reporting period. In this case, the corresponding account in the records is the account for retained earnings (uncovered loss);
2) by recalculating the comparative indicators of the financial statements for the reporting periods reflected in the financial statements of the organization for the current reporting year, except in cases where it is impossible to establish the connection of this error with a specific period or it is impossible to determine the impact of this error cumulatively in relation to all previous reporting periods.
Restatement of comparative financial statements is carried out by correcting the financial statements as if the error of the previous reporting period had never been made (retrospective restatement).
Retrospective restatement is carried out in relation to comparative indicators starting from the previous reporting period presented in the financial statements for the current reporting year in which the corresponding error was made.
Small businesses, with the exception of issuers of publicly placed valuable papers, as well as socially oriented non-profit organizations has the right to correct a significant error of the previous reporting year, identified after the approval of the financial statements for this year, in the manner established by paragraph 14 of these Regulations, without retrospective recalculation.
(paragraph introduced by Order of the Ministry of Finance of Russia dated November 8, 2010 N 144n, as amended by Order of the Ministry of Finance of Russia dated April 27, 2012 N 55n)
10. In the event of correction of a significant error of the previous reporting year, identified after the approval of the financial statements, the approved financial statements for the previous reporting periods are not subject to revision, replacement and re-presentation to users of the financial statements.
11. If a significant error was made before the beginning of the earliest previous reporting period presented in the financial statements for the current reporting year, the opening balances for the corresponding items of assets, liabilities and capital at the beginning of the earliest reporting period presented are subject to adjustment.
12. If it is not possible to determine the impact of a material error on one or more previous reporting periods presented in the financial statements, the organization must adjust the opening balance for the relevant items of assets, liabilities and equity at the beginning of the earliest period for which restatement is possible.
13. The impact of a material error on the previous reporting period cannot be determined if complex and (or) numerous calculations are required, during which it is impossible to identify information indicating the circumstances that existed at the date of the error, or it is necessary to use information received after the date of approval of the financial statements for such previous reporting period.
14. An error of the previous reporting year, which is not significant, discovered after the date of signing the financial statements for this year, is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was identified. Profit or loss resulting from correction the specified error, are reflected as part of other income or expenses of the current reporting period.
III. Disclosure of information in financial statements
15.V explanatory note In addition to the annual financial statements, the organization is required to disclose the following information in relation to significant errors of previous reporting periods corrected in the reporting period:
1) the nature of the error;
2) the amount of adjustment for each item in the financial statements - for each previous reporting period to the extent practicable;
3) the amount of adjustment based on data on basic and diluted earnings (loss) per share (if the organization is required to disclose information on earnings per share);
4) the amount of adjustment to the opening balance of the earliest reporting period presented.
16. If it is impossible to determine the impact of a significant error on one or more previous reporting periods presented in the financial statements, then the explanatory note to the annual financial statements discloses the reasons for this, and also provides a description of the method for reflecting the correction of a significant error in the financial statements of the organization and indicates the period , starting from which corrections were made.
Order of the Ministry of Finance of the Russian Federation dated June 28, 2010 No. 63n approved the Accounting Regulations “Correcting Errors in Accounting and Financial Reporting” (PBU 22/2010).
Before the adoption of PBU 22/2010, brief instructions on the procedure for correcting errors were contained in two documents:
The lack of clarity on the issue of correcting errors, firstly, forced accountants to waste time thinking about drawing up correct corrective entries, and secondly, led to different understandings of the results of corrections, which could also cause disputes with inspection structures.
The adopted PBU 22/2010 basically regulated the procedure for correcting errors. You should read the document very carefully. During a quick reading, important points may slip through the cracks and go unnoticed, especially if you do not focus on the terms - “reporting”, “current”, “previous”, “signing of financial statements”, “approval of financial statements”, “admitted”, “ identified."
So, what points should you pay attention to?
Paragraph 2 Orders establishes that PBU 22/2010 is applied from the annual financial statements for 2010. Thus, errors affecting the annual financial statements for 2010 must be corrected according to the rules of PBU 22/2010.
Paragraph 1 Position I states that PBU 22/2010 is applied by all organizations, with the exception of credit institutions and budgetary institutions. There are no other exceptions.
Point 2 contains a definition of error, a list of six standard causes of error, and circumstances when inaccuracies and omissions in accounting do not constitute errors.
You should pay attention to an important point - the time of receiving the information (document, any information) on the basis of which the error was detected. If the information was available at the date of signing the financial statements and was used incorrectly, then this is the cause of the error. If the new information received about the facts of economic activity was not available to the organization at the time of omission or inaccurate reflection of such facts in the accounting records, then these omissions and inaccuracies are not an error. The procedure for correcting non-erroneous inaccuracies and omissions is not specified in PBU 22/2010. The Regulations do not reflect how to characterize the incorrect use of information received during the period from the date of signing the financial statements until their approval, or after the approval of the statements. The question is important, since most of the rules of the Regulation regulate the correction of errors identified after the signing of the financial statements.
INparagraph 3 the concept of the materiality of an error is defined. Each organization must independently determine the materiality of an error based on both the size and nature of the relevant item(s) of the financial statements. In practice, when drawing up accounting policies, organizations take a rather formal approach to determining materiality. Now this will have to be done more seriously, since significant and insignificant errors are corrected differently.
Point 4 obliges to correct all identified errors and their consequences.
Point 5 determines the rule for correcting an error before December 31 of the reporting year: an error in the reporting year identified before its end is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was identified. That is, if, for example, in November it was discovered that a mistake was made in April, corrective entries are made in the November registers.
Point 6 determines the rule for correcting errors after December 31 of the reporting year: an error in the reporting year identified after its end, but before the date of signing the financial statements for this year, is corrected by entries in the corresponding accounting accounts for December of the reporting year. That is, if in January 2011 it is discovered that an error was made in April 2010, but the financial statements for 2010 have not yet been signed (or not drawn up), then corrective entries are made in the registers of December 2010.
Major bug fixes
Points 7 and 8 contain innovation. These are “restated financial statements.” It should be remembered that the financial statements can only be revised until they are approved. The right to approve financial statements belongs, for example, to the owner, a meeting of shareholders, or a meeting of company participants.
These paragraphs establish that if a significant error is identified after the signing of the financial statements, but before their approval, corrections are made to the entries in the relevant accounting accounts for December of the year for which the financial statements were prepared. Thus, the financial statements must be drawn up and signed anew. And it will be called “restated financial statements.” Those. If in May 2011 a significant error made in April 2010 is discovered, then corrective entries are made in the registers of December 2010, and the financial statements are drawn up and signed again.
The revised financial statements are submitted to all addresses to which the original financial statements were submitted. Moreover, if the financial statements have already been submitted to shareholders, participants, government bodies, a body authorized to exercise the rights of the owner, etc., then the organization must disclose in the revised financial statements information about the replacement of the initially submitted statements and the grounds for its preparation. The list of recipients of financial statements to whom additional information should be sent is not closed, but since it corresponds to clause 11 of Article 15 of the Federal Law “On Accounting”, the information is presented to those users of financial statements who, in accordance with the law or charter The organization is required to submit financial statements.
Points 9, 10, 11, 12, 13 are devoted to significant errors identified after the approval of the annual financial statements.
Clause 10 states “...approved financial statements for previous reporting periods are not subject to revision, replacement and re-presentation to users of financial statements.”
All corrections are made to accounting records or current year financial statements in two ways ( paragraph 9, 11, 12):
- entries on the relevant accounting accounts in the current reporting period in correspondence with the accounting account of retained earnings (uncovered loss) (i.e. account 84 “Retained earnings (uncovered loss));
- by retrospective recalculation of comparative indicators for the reporting periods reflected in the financial statements for the current reporting year. In this case, we are talking only about the recalculation of financial statements. There is no provision for making any corrective entries in the accounting accounts of previous periods. Thus, the retrospective restatement will be a separate calculation for the period or periods in which the error occurred and was affected by it. As a result of the calculations, new correct results should be obtained for the items in the financial statements for this period (periods). When preparing financial statements for the current reporting year, the organization will indicate in it as comparative indicators the calculated data, and not those that would have been taken, for example, from the balance sheet of the previous reporting period. Obviously, the use of the retrospective recalculation method inevitably necessitates bringing account balances into conformity with the financial statements. But PBU 22/2010 does not provide any recommendations on this issue.
Retrospective restatement of approved financial statements is not applied if it is impossible to determine the specific period affected by the error, or it is impossible to determine the impact of this error on a cumulative basis in relation to all previous reporting periods.
In paragraph 13 It is stated that it is impossible to determine the impact of a significant error on the previous one and, therefore, apply a retrospective restatement if:
- determining the impact of a material error on the previous reporting period requires complex and numerous calculations, as a result of which it is impossible to identify information indicating the circumstances that existed at the date of the error;
- it is necessary to use information received after the date of approval of the financial statements for such a previous period.
Thus, a retrospective recalculation of the financial statements of the current year due to detected errors of previous years should be rational and effective, based on information received before the date of approval of the financial statements.
In final paragraphs 15 and 16 indicates the information that the organization is required to disclose in the explanatory note to the annual financial statements regarding significant errors of previous reporting periods corrected in the reporting period. The volume and nature of the information will depend on the method of correcting errors (through account 84 “Retained earnings (uncovered loss)” or by retrospective recalculation of comparative financial statements).
Fixing minor errors
Clause 14 dedicated to immaterial errors: an insignificant error of the previous reporting year, identified after the signing of the financial statements for this year, is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was identified. Perhaps there is an inaccuracy in the wording here and it is meant that corrections are made in the current reporting year. IN paragraph 14 the procedure for accounting for profit or loss resulting from the correction of a minor error has been determined. For this purpose, the account for other income and expenses of the current reporting period is used. Those. if in May 2011 an insignificant error made in April 2010 is discovered, then corrective entries are made in the registers of the second quarter of 2011, and the corresponding accounting account of changes financial result will be
Before you begin to analyze in detail the procedure for correcting errors, you should decide what should be considered an error. Error concept introduced into accounting legislation for the first time: this is an incorrect reflection (non-reflection) of the facts of economic activity (clause 2 of PBU 22/2010). Let us remind you that the fact of economic activity means property, liabilities and business transactions (clause 9 of the Regulations on accounting and financial reporting in the Russian Federation, approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n).
The reasons for errors are grouped by the Ministry of Finance into six categories, and their list is not closed. We will not list them, we will only note that, along with banal inaccuracies in calculations and incorrect application of accounting legislation, the causes of errors include dishonest actions of officials of the organization.
It is important that not in all cases incorrect reflection (non-reflection) of facts of economic activity should be considered an error for the purposes of PBU 22/2010. Thus, inaccuracies or omissions in the reflection of facts of economic activity in the accounting and (or) financial statements of an organization identified as a result of obtaining new information that was not available to the organization at the time of reflection (non-reflection) of such facts of economic activity are not considered errors (paragraph 8 clause 2 of PBU 22/2010).
Every accountant should be able to determine whether he is dealing with an error that requires correction in a special manner or not. When commenting on this issue, experts usually cite as an example the failure to reflect a business transaction due to late receipt of the primary accounting document. Indeed, by virtue of paragraph 1 of Art. 9 of the Accounting Law ( the federal law dated November 21, 1996 N 129-FZ) accounting is carried out on the basis of primary documents that document all business transactions carried out by the organization. In other words, if there is no business transaction, then there is no primary document, therefore, no accounting entries are made. The situation when a business transaction was completed, but was not recorded in the primary document, is a direct violation of paragraph 4 of this article. In addition, the same paragraph states that the timely and high-quality execution of primary accounting documents, their transfer within the established time frame for reflection in accounting, as well as the reliability of the data contained in them are ensured by the persons who compiled and signed these documents. The creation of primary accounting documents, the procedure and timing of their transfer for reflection in accounting are carried out in accordance with the document flow schedule approved as part of the organization’s accounting policy (clause 3 of article 6 of the Accounting Law, clause 15 of the Regulations on accounting and accounting reporting in the Russian Federation). In clause 12 of the Regulations on accounting and financial reporting in the Russian Federation, special attention is paid to the fact that the requirements of the chief accountant for documentation business transactions and submission of documents and information to the accounting service are mandatory for all employees of the organization. That is, with proper organization of document flow, the requirement for timely preparation of a document and its submission to the accounting department will be met. Therefore, in such a common situation, when a transaction was completed, and the accountant learned about it after a long time (after the documents were handed over to him late), we are talking about dishonest actions of the organization’s officials, and the accountant will have to correct the error, guided by PBU 22 /2010.
The reader may object: contractors often issue documents unilaterally (the organization does not participate in their preparation), for example, bills for utilities and communication services. Here it is appropriate to recall Letter dated 09/06/2007 N 03-03-06/1/647, in which representatives of the Ministry of Finance noted: according to accounting rules, monthly expenses, such as, for example, payment expenses utilities and communication services can be taken into account in the month in which primary documents confirming these expenses are received, provided that such a procedure is reflected in the accounting policies of the organization. In this situation, the error is excluded. And in general case An organization can influence the timely submission of documents by including in the contract a condition on the procedure for document flow between the parties.
In addition, we emphasize that in para. 8 clause 2 of PBU 22/2010 states that omissions in the reflection of facts are not an error due to the receipt of new information that was not available to the organization. Firstly, it was not available to the organization, and not to a specific employee responsible for a particular area of accounting. Secondly, the information was not available. According to the author, this phrase should be interpreted in the sense that organizations this information was not available in any form at all. Thus, any business transaction cannot be carried out without the knowledge of at least one employee of the organization, and even if there is no primary document that can be accepted for accounting, there is usually other information about the operation (agreement, business correspondence, actual movement of property, etc.) . The fact that the accountant is not aware of these circumstances does not change matters.
As an example of an omission in the reflection of facts of economic activity, which is not an error (that is, obtaining new information about the facts of economic activity that occurred in past reporting periods), one can cite the receipt from the cadastral registration authority of information about technical errors, which are the basis for recalculating the amount land tax(see Letter of the Ministry of Finance of Russia dated December 17, 2008 N 03-05-04-02/75).
Another question that may arise when qualifying a particular failure to reflect the fact of economic activity in accounting and reporting is related to the inventory: should discrepancies identified as a result of the inventory be considered errors and corrections made to the accounting? In the author's opinion, this question should be answered in the negative. The accounting methodology provides for a special procedure for reflecting such a business transaction as inventory (clause 28 of the Regulations on accounting and financial reporting in the Russian Federation). In addition, the discrepancy between accounting data and the actual availability of property and liabilities can be caused by a number of factors that have nothing to do with errors (for example, natural loss of inventory, loss due to the fault of third parties). Meanwhile, the identification of surplus property, which at market value should be included in other income, may be due to the unlawful non-receipt of the asset. However, the business transaction “capitalization of surplus identified by inventory” should be distinguished from identifying an error in the form of failure to reflect the receipt of goods and materials from the supplier. In the first case, it is assumed that it is necessary to simply register surplus inventory items, and in the second, to also create a debt to the supplier, for which the information obtained as a result of the inventory is completely insufficient. Thus, the reflection of inventory results in accounting as such is not a correction of an error, however, the inventory results can become an impetus for identifying an error that is subject to correction in accordance with PBU 22/2010.
Significance of the error
One of the factors that determines the order in which errors are corrected is their significance. Based on clause 3 of PBU 22/2010, an error is considered significant if it, individually or in combination with other errors for the same reporting period, can affect the economic decisions of users made on the basis of the financial statements prepared for this reporting period. The organization determines the materiality of the error independently, based on both the size and nature of the relevant item(s) of the financial statements. As we can see, the accounting standard does not contain a formal sign of a significant error, but only indicates the criterion - the impact of the error on the economic decisions of users. It turns out that when establishing the materiality of a particular error, it is necessary to outline the circle of users of the reporting, as well as to identify possible economic decisions that they make on the basis of the reporting. Let us recall that the users of the organization’s financial statements are the founders, participants, owners of the company’s property, investors, creditors, managers, state statistics bodies, as well as tax authorities, etc. (clause 3 of article 1, clause 1 of article 15 of the Accounting Law).
Paradoxical but true! When independently determining the level of materiality of an error, an organization must look at it through the eyes of one or another reporting user. By establishing a criterion for the materiality of an error in an accounting policy, the organization thereby informs the users of the statements about which errors are significant for them (from the point of view of the organization).
Experts' comments contain various recommendations on the issue of determining the level of materiality. Thus, some experts believe that it is quite possible in each specific case to transfer directly to the accountant the authority to determine whether a particular error is significant (in this case, it should be documented accounting certificate). We cannot agree with this opinion and adhere to another position, which can also be found in publications - the materiality criterion must be indicated in the accounting policy (despite the fact that such a requirement is in regulatory documents absent). This will avoid the arbitrariness of a specific contractor in each case, protect against claims from regulatory authorities, and provide users with the information necessary to read the reports. However, this raises the question: how to formalize the criterion for the materiality of an error in accounting policies? On the one hand, this criterion should be as objective and easy to use as possible. This speaks in favor of applying the provision “an error is significant if it distorts the indicator of a reporting item by more than 5%.” On the other hand, for some lines a distortion of even 10% will not affect user decisions, while for others the materiality threshold is minimal.
For your information. An administrative offense is considered a gross violation of the rules for maintaining accounting records and presenting financial statements, which consists, in particular, in distorting any article (line) of the financial statements form by at least 10% (Article 15.11 of the Code of Administrative Offenses of the Russian Federation). In turn, a gross violation of the rules for accounting for income and expenses and objects of taxation, considered as tax offense, represents a systematic (twice or more times during a calendar year) untimely or incorrect reflection of business transactions in accounting accounts and reporting (Article 120 of the Tax Code of the Russian Federation).
According to the author, the organization should independently determine the quantitative criterion of materiality (in absolute terms or in relative terms), and, if necessary, in relation to each item in the financial statements.
The procedure for correcting an error depending on the date it was discovered
The second factor that determines the procedure for correcting a particular error is date of its discovery. If we recall clause 11 of the Instructions on the procedure for drawing up and presenting financial statements, approved by Order of the Ministry of Finance of Russia dated July 22, 2003 N 67n, then the key date is the date of approval of the financial statements. Errors in the reporting year identified after its end, but before the date of approval of the statements, are subject to correction by records of December of the completed reporting year; after approval of the statements, no corrections to accounting and reporting for last year are not included. In this case, errors related to the current year that were identified before its end are corrected in the month in which they were discovered. Before the introduction of PBU 22/2010, there were no special rules on correcting errors identified after the statements were approved in the accounting legislation. Clause 80 of the Regulations on Accounting and Financial Reporting in the Russian Federation, traditionally applied in the situation under consideration, cannot be considered as such (profit or loss identified in the reporting year, but relating to operations of previous years, are included in the financial results of the organization for the reporting year), since There is no mention specifically of errors, and the identification of profits and losses of previous years can be caused not only by errors.
The new accounting standard specifies several milestone dates for which the rules for correcting errors are changed, and these dates are different for material and immaterial errors. But before we look at at this moment, it is necessary to make a reservation that, as before, an error (any) in the reporting year, identified before the end of this year, is corrected by entries in the relevant accounting accounts in the month of the reporting year in which it was identified (clause 5 of PBU 22/2010). How is an error discovered after the end of the reporting year corrected?
Minor error: signing statements
If we are talking about an error that is not significant, then if it is identified after the end of the reporting year, but before the date of signing the reporting for this year, corrective entries in the relevant accounts are made in December of the ended year (clause 6 of PBU 22/2010). An error of the previous reporting year that is not significant, discovered after the date of signing the financial statements for this year, is corrected by entries in the corresponding accounting accounts in the month of the reporting year in which the error was identified. Profit or loss arising as a result of correcting this error is reflected as part of other income or expenses of the current reporting period (clause 14 of PBU 22/2010). As we can see, the new accounting standard has fixed the state of affairs that existed before its introduction (in terms of reflecting other income and expenses), but only in relation to minor errors. If the correction of such an error does not entail the occurrence of profit or loss (for example, it consists only of changing the indicators of different lines of the balance sheet), then, naturally, other income and expenses are not generated: it turns out that an entry is made in the accounting as if the operation was completed in the current period (the period when the error was detected).
The foregoing is explained by the fact that an insignificant error cannot affect the economic decisions of users, so there is no point in correcting it in the reporting of the year in which it was made after the reporting has been signed. In this case, the date of signing should be understood as the date when the reporting was generated and sealed with the signatures of the head and chief accountant of the organization (Clause 5 of Article 13 of the Accounting Law). Signing Deadline annual reports is not regulated, but, obviously, it is limited by the deadlines for submitting reports to users (for example, to the tax authority - no later than 90 days after the end of the year).
Significant error: statement of statements
As follows from paragraphs 6 - 8 of PBU 22/2010, a significant error of the past year, identified after its end, but before the approval of the reporting for this year, is corrected by entries in the corresponding accounting accounts for December of the reporting year. The same error, identified after approval of the statements, is corrected differently (clause 9 of PBU 22/2010):
Entries on the relevant accounting accounts in the current reporting period in correspondence with account 84;
By retrospective recalculation of comparative financial statements.
In this case, the approved financial statements are not subject to correction, revision, replacement, or re-presentation to users (clause 10 of PBU 22/2010).
What is reporting approval and why was this date chosen as the key date? Based on the provisions of the legislation on limited liability companies and joint stock companies, approval of financial statements is within the competence of general meeting participants and shareholders, respectively. At the same annual meeting, issues such as profit distribution are considered, and other strategic decisions are made. When making these decisions, LLC participants and JSC shareholders act on the basis (including) of the information contained in the annual financial statements. Approval of reporting means that participants and shareholders of companies have recorded the results of the company’s activities for the year and made certain decisions based on them. If we assume that significant errors (affecting the economic decisions of users) could be corrected in already approved reporting, a rule should be introduced to hold a second meeting of participants (shareholders) to resolve the same issues, but on the basis of corrected reporting. Since this is impractical and is not provided for by law, corrections are not made to the approved reporting. But until the reporting is approved, it can be corrected, even if it has already been presented to users.
Obviously, as long as the reporting has not “left” the organization (that is, has not reached any user), corrections to it can be made painlessly: the accountant needs to make correctional entries in December, re-generate the reporting and sign it. In essence, the accountant must act in the same manner in a situation where the statements have been presented to some user: the new version of the documentation is called revised financial statements and replaces the original version. This is a completely new concept for Russian legislation. Paragraph 7 of PBU 22/2010 does not determine the procedure for submitting revised financial statements to regulatory authorities. We believe that the accountant will have to write to the inspectorate covering letter about the fact of revision of the reporting in order to explain the reason for resubmitting the report (but such an obligation is not provided for by the legislation of the Russian Federation).
The procedure changes somewhat if the financial statements were transferred to the participants of the LLC, the shareholders of the JSC, a government body, a local government body authorized to exercise the rights of the owner (that is, to the persons who will make a decision on approving the statements). According to the provisions of the laws on LLCs and JSCs, reporting is presented to participants and shareholders for review shortly before the general meeting. Based on clause 8 of PBU 22/2010, if the reporting was submitted to at least one user from the specified category, simply replacing it with a revised one is not enough. In the new version of the reporting, the organization must disclose information that these financial statements replace the originally presented ones, as well as the basis for drawing up the revised financial statements. The most obvious option is to make an appropriate indication in the explanatory note (indicate the fact of changes in reporting and errors made).
This procedure is necessary in order to convey to users who have already managed to familiarize themselves with the reporting and, possibly, make some decisions for themselves, information about the reasons for changing the reporting. Of course, all users of reporting (and not just LLC participants and JSC shareholders) make economic decisions based on the organization’s reporting. Significant errors may affect these decisions. But only for one category of users does the accounting standard provide for a procedure for notifying corrections in financial statements. We believe that this is due precisely to the importance of approving financial statements for the company.
If an error was identified after the presentation of the reporting to the LLC participants (shareholders of the JSC), then the revised reporting (with a special indication in the explanatory note) should be presented not only to them, but also to all other users who managed to receive the financial statements ( tax authority, state statistics body, etc.). This follows from the interpretation of clause 8 of PBU 22/2010.
Correcting errors in approved reporting
Traditional corrective entries should not raise questions among accountants, so we will pay special attention to correcting errors of previous years identified after the approval of the financial statements. Let us repeat once again that correcting such errors involves two stages - accounting entries for account 84 and a retrospective recalculation of comparative indicators (clause 9 of PBU 22/2010). In the comments you can find the opinion that these methods are alternative. However, we cannot agree with this point of view: accounting entries make corrections to accounting, and through comparative recalculation, reporting is simultaneously adjusted.
Account entries 84
First of all, we emphasize that entries in the corresponding accounting accounts in correspondence with account 84 are made in the current reporting period - when a significant error relating to previous years was identified (after approval of the statements for these years).
Instructions for using the Chart of Accounts do not allow the preparation of any entries on account 84, except for entries on the formation of profit (loss) of the reporting year, the use of profit (covering losses). Nevertheless, the organization will have to follow the later Order of the Ministry of Finance, which approved PBU 22/2010 and, in this part, conflicts with a similar document that approved the Instructions for the use of the Chart of Accounts. The said Instruction prescribes the maintenance of analytical accounting in the areas of use of profits. Obviously, the profit or loss resulting from the correction of significant errors should also be accounted for separately (it is advisable to open a separate sub-account to reflect operations to correct errors).
It is incorrect to assume that account 84 reflects the profits and losses of previous years that arise when correcting an error. It must be said that corrective entries are compiled in correspondence with account 84. This means that even if the identified error does not give rise to the need to reflect profits and losses (which may be partly explained by the use of account 84), the corresponding account is still the account for retained earnings (uncovered loss). Drawing up a direct entry without using account 84 is a violation of accounting methodology, since this entry does not provide information that its purpose is to correct a significant error in previous years, and not to reflect a business transaction completed in the current period.
Example 1 . In 2008, a decision was made to increase authorized capital OOO. A participant owning more than 50% of the authorized capital deposited into the current account cash in the amount of 100,000 rubles. The accounting records reflected an increase in the authorized capital.
In 2011, a new accountant discovered that changes in the statutory documents were never registered with the Federal Tax Service. The error was recognized as significant.
In accordance with the Instructions for the use of the Chart of Accounts, entries in account 80 “Authorized capital” are made only after appropriate changes are made to the constituent documents of the organization. Changes to the constituent documents of an organization become effective for third parties from the moment they are state registration(clause 3 of article 52 of the Civil Code of the Russian Federation). Therefore, reflecting the increase in the authorized capital (Debit 75 Credit 80) before the state registration of changes in the constituent documents is a mistake. If this significant error had been identified before the statements were approved for the year in which it was committed, the accountant would have made a reversal entry. In our case, we should use account 84.
In the accounting records of the company, business transactions are reflected as follows:
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Sum, |
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Received funds from the participant in |
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The increase in the authorized capital is reflected |
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The amount of authorized capital is given in |
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Reflected accounts payable before |
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Retrospective recalculation
The concept of retrospective recalculation, outlined in PBU 22/2010, is not fundamentally new for the accounting legislation of the Russian Federation. Thus, in paragraph 15 of PBU 1/2008 “Accounting Policies of an Organization” it is proposed to carry out retrospective reflection of the consequences of changes in accounting policies caused by certain reasons. But let's turn to retrospective recalculation comparative reporting indicators as a method of correcting significant errors of the previous period identified after the approval of the financial statements for this period.
In accordance with paragraphs. 2 clause 9 of PBU 22/2010, the comparative indicators of the financial statements for the reporting periods should be recalculated (past periods in which an error was made and the statements for which were approved in in the prescribed manner), reflected in the organization’s financial statements for the current reporting year (the year in which a significant error was identified). Recalculation of comparative financial statements is carried out by correcting the financial statements as if the error of the previous reporting period had never been made.
It turns out that the approved reporting for the past year will remain unchanged (will contain an error). And in the reporting for the year in which a significant error was discovered, the data for the previous year will be presented in a corrected form. Consequently, the indicators for this year in the two sets of reports will not coincide. Information about this fact must be disclosed in the explanatory note to the financial statements for the year in which significant errors of previous reporting periods were corrected (clause 15 of PBU 22/2010). Thus, the following information is included in the explanations:
Nature of the error;
The amount of adjustment for each item in the financial statements - for each previous reporting period to the extent practicable;
The amount of adjustment based on data on basic and diluted earnings (loss) per share (if the organization is required to disclose information on earnings per share);
The amount of adjustment to the opening balance of the earliest reporting period presented.
We suggest considering the procedure for correcting significant errors at the very beginning. simple example- detection of expenses not accepted for accounting in the form of the cost of services provided by third-party organizations in the previous year.
Example 2. In May 2011, the society using common system taxation and obliged to follow PBU 18/02 “Accounting for calculations of corporate income tax”, received from the counterparty documents confirming expenses in the form of the cost of services provided in the amount of 150,000 rubles. without VAT. The services were actually provided in September 2010, the same month the primary document was dated. The reporting for 2010 was approved in April, the error was recognized as significant. The cost of services is classified as general business expenses written off to the cost of services Catering monthly.
The mistake made by the organization is that general business expenses in the amount of 150,000 rubles were not taken into account in a timely manner. If the error had not been made, the following entries would have been made in the company's accounting records in September 2010: Debit 44 Credit 60, Debit 90-2 Credit 44. When correcting the error, the accountant needs to reflect expenses (decrease in financial result) and an increase in accounts payable. We believe that for this it is enough to make an entry Debit 84 Credit 60.
However, it should be remembered that not only identified errors are subject to mandatory correction, but also their consequences. The consequences of failure to reflect expenses in accounting also include failure to reflect income tax calculations associated with this error. Since the organization did not have supporting documents, it could not include the expenses in question in tax base for income tax in 2010. Currently, the taxpayer has two options when identifying unaccounted expenses in 2011:
Include expenses that were erroneously not taken into account in 2010 into the 2011 tax base on the basis of paragraph. 3 p. 1 art. 54 Tax Code of the Russian Federation.
Let's consider these options in detail.
Recalculation of the tax base for 2010 In the first case, the organization must reflect the overpayment of income tax resulting from non-recording of expenses. In fact, she should additionally accrue conditional income for income tax, which was not accrued in 2010. This year, the posting would be Debit 68 Credit 99. Based on the general rule given in paragraph. 4 clause 9 PBU 22/2010 (retrospective recalculation of indicators should be made as if the error had never been made), we believe that the consequences of a significant error are corrected in the same manner as the error itself. Accordingly, in the mode of correcting the consequences of a significant error, an entry should be made to adjust the calculations with the budget for income tax (Debit 68 Credit 84) in the amount of 30,000 rubles. (RUB 150,000 x 20%). We emphasize that in the situation under consideration, the organization should not be guided by clause 22 of PBU 18/02; the special provision of clause 9 of PBU 22/2010 takes precedence over it.
Retrospective recalculation of indicators comes down to the fact that in the balance sheet for 2011, the indicator of retained earnings (uncovered loss) as of the last day of 2010 should be reduced by 120,000 rubles. (150,000 - 30,000). At the same time, accounts payable should be increased by the same amount as of the same date (and by type of debt, an increase in debt to suppliers and contractors and a decrease to the budget should be shown). Accounting statements are not limited to the balance sheet, so comparative indicators should be recalculated in all forms. First of all, this concerns the income statement: the net profit figure for 2010, reflected in Form 2 for 2011, should be reduced by 120,000 rubles. But this value should follow from the previous lines of Form 2, so you need to recalculate the value of the line “General business expenses” (increase by 150,000 rubles), which will cause a corresponding decrease in the indicators “Profit (loss) from sales” and “Profit (loss) before tax ". It is also necessary to adjust the value of the current income tax (reduce by 30,000 rubles). If these retrospectively restated comparative figures are disclosed in appendices to the balance sheet and income statement, adjustments should also be made to them.
Recognition of expenses in the 2011 tax base. In a situation where an organization makes a corrective entry Debit 84 Credit 60 in the amount of 150,000 rubles, it turns out that expenses in accounting are considered reflected in 2010. Therefore, when including them in the tax base for income tax 2011, it turns out that between tax and accounting a temporary difference arose. Consequently, in 2010, it was necessary to reflect a deferred tax asset in accounting (Debit 09 Credit 68) in the amount of 30,000 rubles, and in 2011 (at the time expenses were included in the tax base) - to repay it (Debit 68 Credit 09 ). Since corrective entries are required to be made on the relevant accounting accounts in correspondence with account 84, in May 2011 the accountant must make several entries, recording the following transactions:
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When correcting a significant error made in 2010. |
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Expenses are taken into account in the form of the cost of services provided |
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Tax calculations with the budget have been adjusted |
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A deferred tax asset has been generated |
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At the time of recognition of expenses in the 2011 tax base. |
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Deferred tax asset settled |
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In the financial statements for 2011, individual indicators for 2010 should be recalculated (as of the last date of 2010). Firstly, in the balance sheet it is necessary to reduce the indicator of retained earnings and increase the debt to suppliers and contractors in the amount of 150,000 rubles. Secondly, it is necessary to increase the indicator of deferred tax assets and accounts payable to the budget by 30,000 rubles. At the same time, the second adjustment will increase the balance sheet currency (by 30,000 rubles), but will not affect the indicator of retained earnings (uncovered loss).
In Form 2 you should increase the indicator general expenses for 2010 and reduce the lines “Profit (loss) from sales”, “Profit (loss) before tax”, “ Net profit(loss)" for the same amount - 150,000 rubles. The value in the line "Current income tax" for 2010 should not change, since tax return for 2010 is not specified. The deferred tax assets for 2010, which should be increased by 30,000 rubles, should compensate for the difference (namely, a decrease in the conditional income tax expense).
It is not possible in all situations to recalculate comparative reporting indicators specifically for those years when the error was made, since the financial statements for the year in which the past period error was identified do not reflect comparative indicators for all years of the organization’s operation. So, in balance sheet, the form of which was approved by Order of the Ministry of Finance of Russia dated July 22, 2003 N 67n, provides data at the beginning of the reporting year and the end of the reporting period. In turn, the balance sheet in the form approved by Order of the Ministry of Finance of Russia dated July 2, 2010 N 66n (comes into force with the annual reporting for 2011), shows indicators for three years: as of the reporting date of the reporting period, as of the last date the previous year and the last day of the year preceding the previous one. Therefore, the reporting for 2011 may reflect a comparative recalculation of the indicators for 2010 and 2009. How to correct errors from earlier years in reporting? The answer to this question is contained in paragraph 11 of PBU 22/2010: if a significant error was made before the earliest of the previous reporting periods presented in the financial statements for the current reporting year, the opening balances for the corresponding items of assets, liabilities and capital are subject to adjustment at the beginning of the earliest reporting period presented.
Let's use the conditions of example 1 .
Annual reporting for 2011 must be prepared in accordance with Order of the Ministry of Finance of Russia dated July 2, 2010 N 66n, therefore, the correction of the error committed in 2008 must be reflected in the indicators as of December 31, 2009: the amount of the authorized capital must be reduced by 100,000 rubles, and accounts payable to the founders were increased by the same amount. Information about this must be indicated in the explanatory note (clause 15 of PBU 22/2010).
PBU 22/2010 contains an indication of situations when retrospective recalculation of comparative reporting indicators may not be carried out (clause 2, clause 9). Firstly, if it is impossible to establish a connection between this error and a specific period. Secondly, if it is impossible to determine the impact of the error cumulatively in relation to all previous reporting periods.
As follows from paragraph 13 of PBU 22/2010, the impact of a significant error on the previous period cannot be determined if complex and numerous calculations are required, during which it is impossible to identify information indicating the circumstances that existed on the date of the error, or it is necessary to use information obtained after the date of approval of the financial statements for such previous reporting period. In this situation, the accounting standard instructs the organization to adjust the opening balance for the relevant items of assets, liabilities and capital at the beginning of the earliest period for which recalculation is possible (clause 12 of PBU 22/2010). In this case, the explanatory note should disclose the reasons for the impossibility of determining the impact of the error on the previous year, as well as provide a description of the method for reflecting the correction of a significant error in the reporting and indicate the period from which the corrections were made (clause 16 of PBU 22/2010).
For your information. In tax accounting, in a similar situation (when it is impossible to make a mistake), the organization must recalculate the tax base and the amount of tax for the period in which the error was identified (paragraph 3, clause 1, article 54 of the Tax Code of the Russian Federation).
PBU 22/2010 does not provide any special instructions on what to do if an error is identified, the connection of which with a specific period cannot be established. We believe that in this case it is not possible to make a retrospective recalculation. However general rule on the obligation to correct errors (clause 4 of PBU 22/2010) is still in effect. Therefore, the accountant must make corrective entries in the current period (in correspondence with account 84). In the explanatory note, it would be useful to characterize such an error in order to explain to users the discrepancies between the indicator of retained earnings (uncovered loss) in Forms 1 and 2, despite the absence in Section. III PBU 22/2010 indicates such a need.
Entry into force of PBU 22/2010
In accordance with clause 2 of Order of the Ministry of Finance of Russia dated June 28, 2010 N 63n, this regulatory legal act (approving PBU 22/2010) comes into force with the annual financial statements for 2010. From what point are organizations required to follow the new accounting standard? The answer to this question cannot be found in all the comments to the new document. If any explanations are given, it is indicated that it is necessary to start applying PBU 22/2010 as early as possible (that is, for example, already from reporting for 9 months of 2010). You can even come across the following opinion: accounting entries for correcting errors compiled in accounting in 2010 before the publication of PBU 22/2010 should also be corrected (reversed) and instead of them, entries should be made in accordance with PBU 22/2010. In other words, remembering that annual reporting is compiled on an accrual basis, experts believe that starting from January 1, 2010, corrective entries must meet the requirements of the new accounting standard.
Let us allow ourselves to disagree with any of the options presented. PBU 22/2010 must have a specific start date for its application - it is unacceptable to recommend starting to apply it “as early as possible”. The date of registration of the order of the Ministry of Finance with the Ministry of Justice or the date of publication are not points indicating the need for its application, since at the time of entry into force of this document it is indicated in it itself.
There is no point in arguing with the fact that reporting is compiled on an accrual basis. However, I would like to draw your attention to one point: if the Ministry of Finance speaks about the need to apply any accounting standard starting from reporting for the first month of the year (and further until annual reporting), it writes directly: the order comes into force from the accounting reports of such and such year , and not from the annual financial statements. Obviously there must be a difference.
Considering that the procedure for correcting errors is tied to the date of their discovery, we can come to the conclusion that PBU 22/2010 should apply to errors identified during the preparation of annual financial statements for 2010, that is, starting from 01/01/2011. Thus, starting from this date, the accountant must have criteria for the materiality of errors and correct insignificant errors related to 2010, identified after signing (but before approval) of the statements, in the current period of their discovery (that is, in 2011). If, during the preparation of annual financial statements (before their approval), significant errors relating to 2010 are identified, they must be corrected with entries from December 2010. Significant errors in 2009, identified during the preparation of statements for 2010, must be corrected according to the rules of PBU 22/2010, that is, by making corrective entries in correspondence with account 84 in the current period of 2011 and retrospective recalculation of the 2009 indicators reflected in the reporting for 2011. Errors identified during 2010 are subject to correction according to the previous rules.
In our opinion, errors identified starting from January 1, 2011 should be corrected in accordance with PBU 22/2010, which applies to all organizations (with the exception of budgetary and credit organizations). One of the difficult tasks practical application The new accounting standard will, in our opinion, determine the criterion for the materiality of errors. The main innovation of PBU 22/2010 is to establish a procedure for correcting a significant error discovered after approval of the statements for the year in which such an error was made: by entries in accounts in correspondence with account 84, as well as by retrospective recalculation of comparative reporting indicators. If an error was identified after the reporting was presented to users, but before it was approved, the accountant must correct it with records from December of the reporting year, re-generate the reporting (it is called revised) and replace it with the set of reporting originally presented to users.
Forms of primary documents determined by the head of the organization on the recommendation of the person entrusted with accounting (Law of December 6, 2011 No. 402-FZ).
Each fact of economic life is subject to registration with a primary accounting document. Mandatory details primary accounting document are:
- Title of the document;
- date of document preparation;
- Name economic entity who compiled the document;
- content of the fact of economic life;
- the value of the natural and (or) monetary measurement of a fact of economic life, indicating the units of measurement;
- the name of the position of the person (persons) who completed the transaction, operation and is responsible (responsible) for the correctness of its execution, or the name of the position of the person (persons) responsible for the accuracy of the execution of the event;
- signatures of the persons provided for in paragraph 6 of this part, indicating their surnames and initials or other details necessary to identify these persons.
Primary document must be drawn up during the commission of a fact of economic life, and if this is not possible, immediately after its completion.
Primary accounting documents amount to on paper and (or) in the form electronic document signed with an electronic signature (Part 5 of Article 9 of the Law of December 6, 2011 No. 402-FZ).
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How to correct errors in accounting documents
The procedure for correcting errors in primary documents must be fixed in an appendix to it for accounting purposes. The organization independently develops ways to make corrections to the primary document (both on paper and in the form of an electronic document). Focus on the requirements of the Law of December 6, 2011 No. 402-FZ, regulations in accounting and take into account the peculiarities of document flow. When developing such methods, you can focus on current regulations governing similar issues (for example, Rules for filling out invoices, approved by Decree of the Government of the Russian Federation of December 26, 2011 No. 1137). This was stated in the letter of the Ministry of Finance of Russia dated January 22, 2016 No. 07-01-09/2235.
Errors in primary documents can be corrected as follows:
Due to unnecessary information in the invoice, tax authorities may not recognize it as a primary document. The risks increase if the supplier has printed the invoice on the back of any other primary item. For example, an invoice that relates to a transaction with an outside company. They will say that the organization did not document the expenses, which means it wrote them off illegally.
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PBU 22/2010 - correction of errors in accounting and reporting
open closeThe procedure is mandatory for all legal entities, except for credit organizations and budgetary institutions.
All errors are divided into significant and insignificant. The organization determines the nature of the error independently. Errors that may affect economic decisions made by managers, founders, participants, investors, creditors, counterparties and other persons on the basis of financial statements are considered significant (clause 3).
ACCOUNTING REGULATIONS "CORRECTION OF ERRORS IN ACCOUNTING AND REPORTING" (PBU 22/2010)
I. General provisions
1. These Regulations establish the rules for correcting errors and the procedure for disclosing information about errors in accounting and reporting of organizations that are legal entities under the legislation of the Russian Federation (with the exception of credit organizations and budgetary institutions) (hereinafter referred to as organizations).
2. Incorrect reflection (non-reflection) of facts of economic activity in the accounting and (or) financial statements of an organization (hereinafter referred to as an error) may be due, in particular:
- incorrect application of the legislation of the Russian Federation on accounting and (or) regulatory legal acts on accounting;
- incorrect application of the organization's accounting policies;
- inaccuracies in calculations;
- incorrect classification or assessment of facts of economic activity;
- incorrect use of information available at the date of signing the financial statements;
- unfair actions of officials of the organization.
Inaccuracies or omissions in the reflection of facts of economic activity in the accounting and (or) financial statements of an organization identified as a result of obtaining new information that was not available to the organization at the time of reflection (non-reflection) of such facts of economic activity are not considered errors.
3. An error is considered significant if it, individually or in combination with other errors for the same reporting period, can affect the economic decisions of users made on the basis of the financial statements prepared for this reporting period. The organization determines the materiality of the error independently, based on both the size and nature of the relevant item(s) of the financial statements.
II. The procedure for correcting errors in accounting
4. Identified errors and their consequences are subject to mandatory correction.
5. An error in the reporting year identified before the end of that year is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was identified.
6. An error in the reporting year identified after the end of this year, but before the date of signing the financial statements for this year, is corrected by entries in the corresponding accounting accounts for December of the reporting year (the year for which the annual financial statements are prepared).
7. A significant error of the previous reporting year, identified after the date of signing the financial statements for this year, but before the date of submission of such statements to shareholders of a joint-stock company, participants of a limited liability company, a state authority, local government or other body authorized to exercise the rights of the owner, etc., is corrected in the manner established by paragraph 6 of these Regulations. If the specified financial statements were presented to any other users, then they must be replaced with statements in which the identified significant error has been corrected (revised financial statements).
8. A significant error in the previous reporting year, identified after the presentation of the financial statements for this year to shareholders of a joint-stock company, participants in a limited liability company, a state authority, local government or other body authorized to exercise the rights of the owner, etc., but before date of approval of such reporting in the manner established by the legislation of the Russian Federation, is corrected in the manner established by paragraph 6 of these Regulations. At the same time, the revised financial statements disclose information that these financial statements replace the originally presented financial statements, as well as the basis for preparing the revised financial statements.
9. A significant error of the previous reporting year, identified after approval of the financial statements for this year, is corrected:
1) entries on the relevant accounting accounts in the current reporting period. In this case, the corresponding account in the records is the account for retained earnings (uncovered loss);
2) by recalculating the comparative indicators of the financial statements for the reporting periods reflected in the financial statements of the organization for the current reporting year, except in cases where it is impossible to establish the connection of this error with a specific period or it is impossible to determine the impact of this error on a cumulative basis in relation to all previous reporting periods.
Restatement of comparative financial statements is carried out by correcting the financial statements as if the error of the previous reporting period had never been made (retrospective restatement).
Retrospective restatement is carried out in relation to comparative indicators starting from the previous reporting period presented in the financial statements for the current reporting year in which the corresponding error was made.
10. In the event of correction of a significant error of the previous reporting year, identified after the approval of the financial statements, the approved financial statements for the previous reporting periods are not subject to revision, replacement and re-presentation to users of the financial statements.
11. If a significant error was made before the beginning of the earliest previous reporting period presented in the financial statements for the current reporting year, the opening balances for the corresponding items of assets, liabilities and capital at the beginning of the earliest reporting period presented are subject to adjustment.
12. If it is not possible to determine the impact of a material error on one or more previous reporting periods presented in the financial statements, the organization must adjust the opening balance for the relevant items of assets, liabilities and equity at the beginning of the earliest period for which restatement is possible.
13. The impact of a material error on the previous reporting period cannot be determined if complex and (or) numerous calculations are required, during which it is impossible to identify information indicating the circumstances that existed at the date of the error, or it is necessary to use information received after the date of approval of the financial statements for such previous reporting period.
14. An error of the previous reporting year, which is not significant, discovered after the date of signing the financial statements for this year, is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was identified. Profit or loss arising as a result of correcting this error is reflected as part of other income or expenses of the current reporting period.
III. Disclosure of information in financial statements
15. In the explanatory note to the annual financial statements, the organization is obliged to disclose the following information regarding significant errors of previous reporting periods corrected in the reporting period:
1) the nature of the error;
2) the amount of adjustment for each item in the financial statements - for each previous reporting period to the extent practicable;
3) the amount of adjustment based on data on basic and diluted earnings (loss) per share (if the organization is required to disclose information on earnings per share);
4) the amount of adjustment to the opening balance of the earliest reporting period presented.
16. If it is impossible to determine the impact of a significant error on one or more previous reporting periods presented in the financial statements, then the explanatory note to the annual financial statements discloses the reasons for this, and also provides a description of the method for reflecting the correction of a significant error in the financial statements of the organization and indicates the period , starting from which corrections were made.
ON APPROVAL OF THE ACCOUNTING REGULATIONS "CORRECTION OF ERRORS IN ACCOUNTING AND REPORTING" (PBU 22/2010)
In order to improve legal regulation in the field of accounting and financial reporting and in accordance with the Regulations on the Ministry of Finance of the Russian Federation, approved by Decree of the Government of the Russian Federation of June 30, 2004 N 329 (Collected Legislation of the Russian Federation, 2004, N 31, Art. 3258; N 49, Art. 4908; 2005, N 23, Art. 2270; N 52, Art. 5755; 2006, N 32, Art. 3569; N 47, Art. 4900; 2007, N 23, Art. 2801 ; N 45, Art. 5491; 2008, N 5, Art. 411; N 46, Art. 5337; 2009, N 3, Art. 378; N 6, Art. 738; N 8, Art. 973; N 11, Art. 1312; N 26, Art. 3212; N 31, Art. 3954; 2010, N 5, Art. 531; N 9, Art. 967; N 11, Art. 1224), I order:
1. Approve the attached Accounting Regulations “Correcting Errors in Accounting and Reporting” (PBU 22/2010).
2. Establish that this Order comes into force with the annual financial statements for 2010.
Deputy
Chairman of the Government
Russian Federation -
Minister of Finance
Russian Federation
A.L.KUDRIN
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