Change in estimated value. Change in estimates I

Starting from 2009, Russian accountants will have to be guided in their work by another PBU. The new Accounting Regulations are devoted to the rules for recognizing and disclosing information about changes in estimated values in accounting.
The Accounting Regulation “Changes in Estimated Values” (PBU 21/2008) was approved by Order of the Ministry of Finance of Russia dated October 6, 2008 N 106n and comes into force on January 1, 2009. The Regulation establishes the rules for recognition and disclosure in the financial statements of organizations (with the exception of credit and budget institutions), information about changes in estimated values.
For the purposes of PBU 21/2008, a change in the estimated value is an adjustment to the value of an asset (liability) or a value reflecting the repayment of the value of an asset, due to the appearance new information, which is made on the basis of an assessment of the current state of affairs in the organization, expected future benefits and obligations and is not a correction of an error in the financial statements. Estimated values are:
— the amount of the reserve for doubtful debts;
- the amount of the reserve for the reduction in the cost of material production stocks; — the amount of other estimated reserves;
— useful life of fixed assets;
- useful life intangible assets and other depreciable assets;
— assessment of the expected receipt of future economic benefits from the use of depreciable assets, etc. A change in the method of assessing assets and liabilities is not a change in the estimated value.
This PBU 21/2008 was developed as part of the convergence of the requirements of Russian accounting standards with international standards accounting. Formation financial reporting IFRS involves the use of a fairly wide range of accounting estimates(accounting estimates), which are based on the information available at the time of the assessment (date of reporting) and must be analytically justified. The list of items for which estimated values are formed are the same in both Russian PBU 21/2008 and international standard 8. The standard says that as a result of the uncertainty inherent in entrepreneurial activity, many items in financial statements cannot be accurately calculated, but can only be estimated. The evaluation process involves judgments based on the latest information available. Over time, the information on which estimates are based may be refined and changed. For example, after some time, the company's management may change its forecast regarding the useful life of a fixed asset - in connection with the discovery of a new way of using it (the period will increase) or, conversely, with the appearance on the market of more productive analogues (the period will be reduced). In short, the assessment may be revised if the circumstances on which it was based change. Accounting estimates are subject to revision if the circumstances on which they were based change, new information, new experience or changing events occur.

Creation of a reserve for the depreciation of inventories

Inventory for which during the reporting year the market price has decreased or they are morally obsolete, or have completely or partially lost their original qualities, are reflected in balance sheet at the end of the reporting year at the current market value, taking into account the physical condition of the reserves. The reduction in the cost of inventory is reflected in accounting in the form of a reserve accrual. Allowance for impairment material assets is created for each unit of inventory accepted in accounting. It is allowed to create reserves for the reduction in the cost of material assets for certain types of similar or related inventories. It is not allowed to create reserves for the reduction in the cost of material assets for such consolidated groups of inventories as basic and auxiliary materials.
The calculation of the current market value of the inventory is made by the organization on the basis of information available before the date of signing the financial statements. The calculation takes into account the following:
- a change in price or actual cost associated directly with events after the reporting date, confirming the economic conditions that existed at the reporting date in which the organization conducted its activities;
- appointment of MPZ;
- the current market value of finished products, the production of which uses raw materials, materials and other inventories.
A reserve for the decrease in the value of material assets is not created for raw materials, materials and other inventories used in the production of finished products, works, rendering services, if on the reporting date the current market value corresponds to or exceeds the actual cost. The organization must provide confirmation of the calculation of the current market value of the inventory. If in the period following the reporting period, the current market value of inventories, for the reduction of the value of which a reserve was created in the reporting period, increases, then the corresponding part of the reserve is included in the reduction of the cost material costs recognized in the period following the reporting period.
The created reserve is accounted for on account 14 “Reserve for depreciation of the value of inventories”. The accrual of a reserve for the decrease in the value of inventories is reflected in the accounting records under account 91 “Other income and expenses”. The creation of a reserve is taken into account by postings:
Debit 91 Credit 14
— created a reserve for the depreciation of investments in the inventory;
Debit 14 Credit 91
- the previously created reserve was written off. The accrued reserve is written off as the inventory related to it is released.

Creation of a reserve for the depreciation of investments in securities

Significant cost reduction financial investments, according to which their current market value is determined, is lower than the value of economic benefits, and is recognized as depreciation of financial investments. In this case, the estimated value of financial investments is determined, equal to the difference between their cost, at which they are reflected in accounting (accounting value), and the amount of such a reduction. A sustainable decrease in value is characterized by the simultaneous presence of the following conditions:
— at the reporting date and at the previous reporting date, the carrying amount is significantly higher than the estimated cost;
— during the reporting year, the estimated value of financial investments changed significantly only in the direction of its decrease;
— as of the reporting date, there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future;
- making in the market valuable papers a significant number of transactions in similar securities at a price significantly lower than their book value;
— absence or significant decrease in income from financial investments in the form of interest or dividends, with a high probability of a further decrease in these income in the future.
If a significant decrease in the value of financial investments is confirmed, the organization forms a reserve for the depreciation of financial investments by the amount of the difference between the book value and the estimated value of such financial investments. The specified reserve is accounted for on account 59. The organization forms the specified reserve at the expense of financial results(included in operating expenses):
Debit 91 Credit 59
— created a reserve for the depreciation of financial investments.
In the financial statements, the value of such financial investments is shown at book value minus the amount of the formed reserve for their depreciation. Checking for depreciation of financial investments is carried out at least once a year as of December 31 of the reporting year if there are signs of depreciation. The organization has the right to carry out the specified check on the reporting dates of the interim financial statements. If, based on the results of the check for the depreciation of financial investments, a further decrease in their estimated value is revealed, then the amount of the previously created reserve for the depreciation of financial investments is adjusted upwards and decreases the result of commercial organization(included in operating expenses). Also, when financial investments are disposed of, the estimated value of which was included in the calculation of the reserve for the depreciation of financial investments, the amount of the previously created reserve is credited to the financial results of a commercial organization (as part of operating income) or to a decrease in expenses of a non-profit organization at the end of the year or the reporting period when the disposal occurred:
Debit 59 Credit 91
— the reserve for the depreciation of investments has been reduced.

Allowance for doubtful debts

In accounting, the reserve is recorded on account 63 “Reserves for doubtful debts”. The postings for the creation and use of the reserve are as follows:
Debit 91 Credit 63
- created a reserve;
Debit 63 Credit 62
- written off doubtful debts;
Debit 63 Credit 91
— the unused amount of the reserve was restored.
In balance accounts receivable is reflected minus the created reserve, that is, account 63 is contractive, and its credit balance is reflected in the asset balance by subtracting it from the balance of account 62.

Warranty reserve

This reserve is created by organizations that provide warranty repair services to their customers. In accounting, this reserve can be created in two ways:
- the percentage of deductions to the amount of expenses of the enterprise;
- as a percentage of the deduction to the amount of the company's revenue.
The created reserve is accounted for on account 96 by postings:
Debit 20 (25, 26) Credit 96
- created a reserve;
Debit 96 Credit 10 (70, 69)
— expenses on the created reserve are taken into account.
The unused reserve at the end of the warranty repair period is written off to non-operating income. An organization can write off a lump sum overdue debt at maturity limitation period or for other reasons. In this case, no reserve is created.

Provision for vacation pay and payment of remuneration for the year

This reserve is created for the purpose of evenly distributing expenses for paying vacation pay and remuneration for the year during the year. In accounting, an organization can independently develop a methodology for calculating this reserve, but we recommend using the method specified in tax code for data matching. In accounting, the creation and use of a reserve is accounted for by postings:
Debit 20 (25, 26, 44) Credit 96
- the monthly amount of deductions to the reserve is taken into account;
Debit 96 Credit 70
- accrued vacation pay;
Debit 96 Credit 69
- accrued the amount of UST for vacation pay expenses.
The unused reserve at the end of the year is written off to non-operating income.
An entity may choose to recognize lump-sum vacation expenses, in which case no provision is created.

Change in estimated values for depreciable property

Currently, a change in estimated values implies, in particular, an identified change in the useful life of a fixed asset or intangible asset (IA).
If this circumstance is discovered, the organization is obliged to make corrections to the financial statements at the beginning of the reporting year. Please note: PBU 14/2007 * (1), published in December 2007, already provides for an annual refinement of the useful lives of intangible assets as an estimated value (clause 27 of PBU 14/2007). Taking into account the constant approximation of domestic accounting to international standards, it is obvious that similar changes will be made to other accounting provisions related to estimated values.
According to paragraph 27 of PBU 14/2007, “the useful life of an intangible asset is annually checked by the organization for the need to clarify it. If there is a significant change in the length of the period during which an entity expects to use an asset, its useful life is subject to adjustment. The resulting adjustments are reflected in accounting and financial statements at the beginning of the reporting year as changes in estimated values. For an intangible asset with an indefinite useful life, an entity shall review annually whether there are factors that indicate that the useful life of the asset cannot be determined reliably. In the event of the termination of the existence of these factors, the organization determines the useful life of this intangible asset and the method of its depreciation. The adjustments that have arisen in connection with this are reflected in accounting and financial statements at the beginning of the reporting year as changes in estimated values.
At present, PBU 6/01 does not have a similar provision.
Under IAS 8, a change in an accounting estimate is not treated as an error or an extraordinary event. Accordingly, the statements of previous periods should not be adjusted. And it is precisely this approach to changing estimated values that is promoted by the PBU 21/2008 under consideration.
When accounting estimates are revised, adjustments to the financial statements are made from the period in which the revision was made. If the revision affected only the reporting period, then the profit (loss) of the company should be adjusted for the effect (increase or decrease in the value of assets, liabilities, expenses or income) from the revision of accounting estimates. If the revision affects several periods, then changes in accounting estimates are reflected in the current and future reporting periods. This order of reflection of changes is called prospective application.
If a change in accounting data cannot be unambiguously classified as a change accounting policy or changes in the estimated value, then for the purposes of financial statements it is recognized as a change in the estimated value.
A change in the estimated value, with the exception of directly affecting the amount of the organization's capital, is subject to recognition in accounting by including in the income or expenses of the organization (prospectively):
- the period in which the change occurred, if such a change affects the financial statements of only this reporting period;
- the period in which the change occurred and future periods if such a change affects financial statements this reporting period and financial statements of future periods.
A change in the estimated value that directly affects the amount of the organization's capital is subject to recognition by adjusting the corresponding capital items in the financial statements for the period in which the change occurred.
IN explanatory note In addition to the financial statements, the organization must disclose the following information about the change in the estimated value:
- the content of the change that affected the financial statements for this reporting period;
- the content of the change that will affect the financial statements for future periods, unless it is impossible to assess the impact of the change on the financial statements for future periods. The fact of the impossibility of such an assessment is also subject to disclosure.

I. Avrova,
candidate economic sciences, chairman
Non-Profit Partnership Club
Accountants "Basis", St. Petersburg

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*(1) PBU 14/2007 "Accounting for intangible assets" was approved by order of the Ministry of Finance of Russia dated December 27, 2007 N 153n.

Building a team of sales professionals

Estimated values

Such a concept as “estimated value” is established by PBU 21/2008 “Changes in estimated values”. These include, in particular, reserves for depreciation (decrease in value) of inventories. According to paragraph 4 of PBU 21/2008, a change in the estimated value is subject to recognition in income or expenses of the current (reporting) period or future periods, depending on the period for which changes in the estimate are provided.

Estimated values are formed, as a rule, on the basis of external information. Thus, the basis for accruing a reserve for the decrease in the value of inventories is the current market prices for similar assets.

Internal factors also have a certain influence here, for example, the quality of these assets. Inventories, the value of which, for one reason or another, at the date of the report turned out to be lower than their initial assessment, are reflected in the balance sheet less an allowance for impairment. That is, it is necessary to show their real value.

What is a reserve for?

In accounting, the formation of a reserve is explained by a completely rational goal - to prevent profit overruns in the future. After all, the net balance sheet profit at the end of the reporting period can be distributed for various purposes in accordance with the charter. But it is very difficult to change the distribution that has already taken place in terms of expectations, which turned out to be overestimated. In general, the requirement to create reserves proceeds from the principle of prudence. That is, overestimation of assets should be avoided, as well as underestimation of liabilities.

Creation of a reserve

An allowance for depreciation is formed at the expense of the financial results of the enterprise. Its sum is the difference between actual cost stocks and their current market value, provided that this difference is positive (clause 25 PBU 5/01 “Accounting for inventories”).

In general, the creation and write-off of a reserve for the decrease in the cost of inventories can be described as follows. If there are reasons to believe that the market value of a certain group of materials in the warehouse by the time they are finally written off to production will be reduced, then a reserve is created for the amount of possible losses from the decrease.

Subsequently, as at each reporting date, the amount of the provision is adjusted depending on the state of inventories and the market value of similar assets. But in the current month (in which the reserve was created), it is no longer corrected. The fact is that the reserve is created, as a rule, at the end of the month, and the materials are written off for production within a month at the purchase price, which is the current market price in this month.

EXAMPLE 1
There are 1000 units of raw materials in the warehouse of the enterprise. The actual unit cost is 300 rubles, and their total cost is 300,000 rubles.

The enterprise has reason to believe that by the time they are finally written off for production (in three months), the market price of similar assets will be 270 rubles. for a unit. Then their cost will be 270,000 rubles.

Based on this, the company in the current month creates a reserve in the amount of 30,000 rubles, that is, for the difference between the actual cost and the expected market value (300,000 - 270,000).

The creation of a reserve is reflected in the accounting entry:
DEBIT 91 sub-account "Other income and expenses"
CREDIT 14 sub-account "Reserves for depreciation of material assets"
- 30,000 rubles. - created a reserve for depreciation of inventories.

Suppose that, using one of the methods for assessing materials provided for in PBU 5/01, the following was written off to production:
- in the current (reporting) month, 300 units of materials of this group at a price of 300 rubles. per unit in the amount of 90,000 rubles;
- in the first month after the creation of the reserve, 250 units were written off at a price of 290 rubles. in the amount of 72,500 rubles;
- in the second month after the creation of the reserve, 300 units were written off at a price of 280 rubles. in the amount of 84,000 rubles;
- in the third month (final write-off) - 150 units at a price of 280 rubles. for 42,000 rubles.

Simultaneously with the write-off of materials into production, the amount of the created reserve is adjusted by posting to the debit of account 14 and the credit of account 91.

Since the total amount of the reserve is 30,000 rubles, then 1 unit of raw materials accounts for 30 rubles. In our example, the adjustment amounts would be:
- as of the end of the reporting month, the reserve is not adjusted, it is only created;
- as of the end of the first month, the reserve is adjusted in the amount of 7,500 rubles. (30 rubles / unit x 250 units);
- as of the end of the second month - in the amount of 9000 rubles. (30 rubles / unit x 300 units);
- as of the end of the third month - for the amount of the balance of the reserve 13,500 rubles. (30,000 - 7500 - 9000).

Reporting according to international standards

Foreign organizations can also be shareholders of the enterprise. In this case, as a rule, the financial statements prepared according to national standards are adapted to international standards. In addition, the national accounting reform program is designed to bring it into line with the requirements of international financial reporting standards.

RESERVATION OR DISCOUNT

The rule to create reserves, like much in modern accounting, is borrowed from international practice. Thus, according to international standards, a reserve is not created in any case, but only if the impairment of reserves is probable. But when it has already taken place, a markdown is carried out, and a reserve is not created.

The basic rule for accounting for inventories is that their carrying amount should represent the lower of two estimates: cost or net realizable value. This is achieved by markdown (with subsequent revaluation, if necessary) or the creation of an allowance for impairment. So, if inventories, due to the deterioration of their physical characteristics, have lost part of their original cost, they are written down to net realizable value.

The obligation to bring the carrying amount of inventories to the level of net selling prices is due to the opinion that assets should not be carried in excess of the amounts that can be received from their sale to the outside.

* Net resale value is the estimated (in the normal course of business) selling price less the cost to complete the production and to make the sale.
COST CONTROL

The value of inventories put into production cannot fall below their actual purchase price if finished products, for which they were used, will be sold at a profit, or at least at a price not lower than cost. In this case, there is no need for markdown.

EXAMPLE 2
As of the balance sheet date, the value of yarn stocks in the knitwear industry is 320,000 rubles.

It has been established that the market value of yarn on this date has decreased to 300,000 rubles. At the same time, all finished products in the production of which it is used remain profitable.

Therefore, it is not required to reflect the decrease in the cost of yarn in accounting and reporting.

In each subsequent period, the estimated net selling price is revised. When the circumstances that previously necessitated the write-off of inventories cease to exist, the amount of the reduction must be reversed, but within the limits of the previous write-down.

If there is an excess of the volume of deliveries or purchases (under contracts not yet executed, but already concluded at fixed prices) over the volume of available reserves, then in such cases there are estimated liabilities, which should be considered in accordance with the standard "Reserves, contingent liabilities and contingent assets". This means that in such cases a provision for depreciation of inventories is charged. Then, as of each reporting date, it is adjusted depending on the condition of the relevant stocks.

However, in any case, a markdown is carried out or a reserve is created. That is, a loss is recognized before it is actually incurred. This achieves compliance with one of the most important accounting requirements - the principle of prudence.

This document establishes the rules for the recognition and disclosure in the financial statements of information about changes in the estimated values of an organization - a legal entity under Russian law.

The requirements of PBU 21/2008 do not apply to credit institutions, as well as to state (municipal) institutions.

Registered with the Ministry of Justice of Russia on November 27, 2008

Ministry of Finance Russian Federation

On approval of accounting regulations

As amended on: 11.03.2009 N 22n; October 25, 2010 No. 132n;
11/08/2010 No. 144n; 04/27/2012 N 55n
12/18/2012 N 164n.

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 I order:

1. Approve:

a) Regulation on accounting "Accounting policy of the organization" (PBU 1/2008) in accordance with Appendix No. 1;

b) for accounting "Changes in estimated values" (PBU 21/2008) in accordance with Appendix No. 2.

2. Recognize as invalid the Order of the Ministry of Finance of the Russian Federation dated December 9, 1998 N 60n "On approval of the Accounting Regulations" Accounting policy of the organization "PBU 1/98" (the Order was registered with the Ministry of Justice of the Russian Federation on December 31, 1998, registration number 1673; Bulletin of regulatory acts federal bodies executive branch, No. 2, January 11, 1999; " Russian newspaper", N 10, January 20, 1999).

Deputy
Prime Minister
Russian Federation -
Minister of Finance
Russian Federation
A.L. Kudrin

Appendix No. 2
to the Order of the Ministry of Finance
Russian Federation
dated 06.10.2008 N 106n

Regulation on accounting

"Changes in estimates"

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)

1. This Regulation establishes the rules for recognition and disclosure in the financial statements 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), information on changes in estimated values.

(as amended by the Order of the Ministry of Finance of Russia dated October 25, 2010 N 132n)

2. For the purposes of this Regulation, a change in the estimated value is recognized as an adjustment in the value of an asset (liability) or a value reflecting the repayment of the value of an asset, due to the emergence of new information, which is made based on an assessment of the current state of affairs in the organization, expected future benefits and liabilities and is not a correction of an error in the financial statements.

3. The estimated value is the amount of the allowance for doubtful debts, the reserve for the depreciation of inventories, other estimated reserves, the useful life of fixed assets, intangible assets and other depreciable assets, the assessment of the expected receipt of future economic benefits from the use of depreciable assets, etc.

A change in the way assets and liabilities are valued is not a change in the estimated value.

If any change in accounting data cannot be unambiguously classified as a change in accounting policy or a change in an estimated value, then for the purposes of accounting it is recognized as a change in an estimated value.

4. A change in the estimated value, with the exception of the change specified in this Regulation, is subject to recognition in accounting by including in the income or expenses of the organization (prospectively):

the period in which the change occurred, if such a change affects the financial statements of only this reporting period;

the period in which the change occurred, and future periods, if such a change affects the financial statements of this reporting period and the financial statements of future periods.

5. A change in the estimated value that directly affects the amount of the organization's capital is subject to recognition by adjusting the corresponding capital items in the financial statements for the period in which the change occurred.

6. In the explanatory note to the financial statements, the organization must disclose the following information about the change in the estimated value.

MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

ON APPROVAL OF REGULATIONS ON ACCOUNTING

1. Approve:

a) Regulation on accounting Accounting policy of the organization () in accordance with Appendix No. 1;

b) Regulation on accounting Changes in estimated values () in accordance with Appendix N 2.

2. Recognize as invalid the Order of the Ministry of Finance of the Russian Federation of December 9, 1998 N 60n On approval of the Regulations on accounting Accounting policy of the organization PBU 1/98 (The order was registered with the Ministry of Justice of the Russian Federation on December 31, 1998, registration number 1673; Bulletin of normative acts of federal executive authorities, N 2, January 11, 1999; Russian newspaper, N 10, January 20, 1999).

Deputy
Chairman of the Government of the Russian Federation -
Minister of Finance of the Russian Federation
A.L. KUDRIN

Appendix No. 1

dated 06.10.2008 N 106n

POSITION
FOR ACCOUNTING "ACCOUNTING POLICY OF THE ORGANIZATION"
(PBU 1/2008)

(As amended by Orders of the Ministry of Finance dated 03/11/2009 N 22n, dated 10/25/2010 N 132n, dated 11/08/2010 N 144n, dated 04/27/2012 N 55n)

I. General provisions

1. This Regulation establishes the rules for the formation (selection or development) and disclosure of the accounting policy of organizations that are legal entities under the legislation of the Russian Federation (with the exception of credit institutions and state (municipal) institutions) (hereinafter referred to as organizations).

Branches and representative offices of foreign organizations located in the territory of the Russian Federation may form an accounting policy in accordance with these Regulations or based on the rules established in the country where the foreign organization is located, if the latter do not contradict International Financial Reporting Standards.

2. For the purposes of this Regulation under accounting policy organization is understood as the set of accounting methods adopted by it - primary observation, cost measurement, current grouping and final generalization of facts economic activity.

Accounting methods include methods for grouping and evaluating the facts of economic activity, repaying the value of assets, organizing workflow, inventory, using accounting accounts, organizing accounting registers, and processing information.

3. This Regulation applies:

in terms of the formation of accounting policies - for all organizations;
in terms of disclosure of accounting policies - for organizations that publish their financial statements in full or in part in accordance with the legislation of the Russian Federation, constituent documents or on their own initiative.

II. Formation of accounting policy

4. The accounting policy of the organization is formed by the chief accountant or other person who, in accordance with the legislation of the Russian Federation, is entrusted with maintaining the accounting of the organization, on the basis of this Regulation and is approved by the head of the organization.

It affirms:

a working chart of accounting accounts containing synthetic and analytical accounts necessary for accounting in accordance with the requirements of timeliness and completeness of accounting and reporting;
forms of primary accounting documents, accounting registers, as well as documents for internal accounting reporting;
the procedure for conducting an inventory of the assets and liabilities of the organization;
methods of valuation of assets and liabilities;
document flow rules and accounting information processing technology;
the procedure for monitoring business transactions;
other solutions necessary for the organization of accounting.

5. When forming an accounting policy, it is assumed that:

the assets and liabilities of an organization exist separately from the assets and liabilities of the owners of this organization and the assets and liabilities of other organizations (assuming property isolation);
the entity will continue as a going concern for the foreseeable future and has no intention or need to liquidate or substantially reduce operations and therefore the liabilities will settle at in due course(assumption of business continuity);
the accounting policy adopted by the organization is applied consistently from one reporting year to another (assuming the sequence of application of accounting policies);
the facts of the economic activity of the organization refer to the reporting period in which they took place, regardless of the actual time of receipt or payment Money associated with these facts (the assumption of temporal certainty of the facts of economic activity).

6. The accounting policy of the organization should provide:

completeness of reflection in accounting of all facts of economic activity (completeness requirement);
timely reflection of the facts of economic activity in accounting and financial statements (timeliness requirement);
greater willingness to recognize expenses and liabilities in accounting than possible income and assets, preventing the creation of hidden reserves (prudence requirement);
reflection in accounting of the facts of economic activity based not so much on their legal form, but on their economic content and business conditions (requiring priority of content over form);
data identity analytical accounting turnovers and balances on synthetic accounting accounts on the last calendar day of each month (consistency requirement);
rational accounting, based on the conditions of management and the size of the organization (the requirement of rationality).

7. When forming the accounting policy of an organization on a specific issue of organizing and maintaining accounting, one method is selected from several methods allowed by the legislation of the Russian Federation and (or) regulatory legal acts on accounting. If, on a specific issue, the regulatory legal acts do not establish accounting methods, then when forming an accounting policy, the organization develops an appropriate method based on these and other accounting provisions, as well as International Financial Reporting Standards. At the same time, other accounting provisions are applied to develop an appropriate method in terms of similar or related facts of economic activity, definitions, conditions for recognition and the procedure for assessing assets, liabilities, income and expenses.

8. The accounting policy adopted by the organization is subject to execution by the relevant organizational and administrative documentation (orders, instructions, etc.) of the organization.

9. The accounting methods chosen by the organization when forming the accounting policy are applied from January 1 of the year following the year of approval of the relevant organizational and administrative document. At the same time, they are applied by all branches, representative offices and other divisions of the organization (including those allocated to a separate balance sheet), regardless of their location.

A newly created organization, an organization that has arisen as a result of reorganization, draws up the chosen accounting policy in accordance with these Regulations no later than 90 days from the date of state registration legal entity. The accounting policy adopted by the newly created organization is considered applicable from the date of state registration of the legal entity.

III. Change in accounting policy

10. A change in the accounting policy of an organization can be made in the following cases:

changes in the legislation of the Russian Federation and (or) regulatory legal acts on accounting;
development by the organization of new ways of conducting accounting. The use of a new method of accounting implies a more reliable presentation of the facts of economic activity in the accounting and reporting of an organization or a lower labor intensity of the accounting process without reducing the degree of information reliability;
significant change in business conditions. A significant change in the business conditions of an organization may be associated with reorganization, changes in activities, etc.

It is not considered a change in the accounting policy to approve the method of accounting for the facts of economic activity that differ in essence from the facts that took place earlier, or arose for the first time in the activities of the organization.

11. Changes in accounting policies must be justified and executed in the manner prescribed by paragraph 8 of these Regulations.

12. A change in accounting policy is made from the beginning of the reporting year, unless otherwise stipulated by the reason for such a change.

13. The consequences of a change in accounting policies that have had or are capable of having a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows are estimated in monetary terms. Estimation in monetary terms of the consequences of changes in accounting policies is made on the basis of data verified by the organization as of the date from which the changed method of accounting is applied.

14. The consequences of a change in accounting policy caused by a change in the legislation of the Russian Federation and (or) regulatory legal acts on accounting are reflected in accounting and reporting in the manner established by the relevant legislation of the Russian Federation and (or) regulatory legal acts on accounting. If the relevant legislation of the Russian Federation and (or) regulatory legal act on accounting do not establish the procedure for reflecting the consequences of a change in accounting policies, then these consequences are reflected in accounting and reporting in the manner established by paragraph 15 of these Regulations.

15. The consequences of a change in accounting policies caused by reasons other than those specified in paragraph 14 of these Regulations, and which had or could have a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows, are reflected in the financial statements retrospectively, except for cases when the assessment in monetary terms of such consequences in relation to the periods preceding the reporting period cannot be made with sufficient reliability.

When reflecting retrospectively the consequences of a change in accounting policy, it is assumed that the changed method of accounting has been applied since the occurrence of facts of economic activity of this type. Retrospective reflection of the consequences of a change in accounting policy consists in adjusting the opening balance for the item Retained earnings (uncovered loss) for the earliest period presented in the financial statements, as well as the values of related items of the financial statements disclosed for each period presented in the financial statements, as if the new accounting policy had been applied since the occurrence of the facts of economic activity of this type.

In cases where a monetary assessment of the consequences of a change in accounting policies in relation to periods preceding the reporting period cannot be made with sufficient reliability, the changed method of accounting is applied to the relevant facts of economic activity that occurred after the introduction of the changed method (prospectively).

15.1. Small business entities, except for issuers of publicly placed securities, as well as socially oriented non-profit organizations has the right to reflect in the financial statements the consequences of changes in accounting policies that have had or are capable of having a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows, prospectively, except for cases when a different procedure is established by the legislation of the Russian Federation and (or) regulatory legal act on accounting.

(Clause 15.1 was introduced by the Order of the Ministry of Finance of November 8, 2010 N 144n, as amended by the Order of the Ministry of Finance of April 27, 2012 N 55n)

16. Changes in accounting policies that have had or may have a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows are subject to separate disclosure in the financial statements.

IV. Disclosure of accounting policies

17. The organization must disclose the accounting methods adopted in the formation of accounting policies that significantly affect the assessment and decision-making by interested users of financial statements.

Methods of accounting are recognized as essential, without knowledge of the application of which by interested users of financial statements, a reliable assessment is impossible. financial position organization, financial results of its activities and (or) cash flow.

18. Paragraph deleted. - Order of the Ministry of Finance dated 11.03.2009 N 22n.

In the event that financial statements are not published in full, information on accounting policies is subject to disclosure, at least in the part directly related to the published data.

19. If the organization's accounting policy is formed on the basis of the assumptions provided for in paragraph 5 of these Regulations, then these assumptions may not be disclosed in the financial statements.

When forming the accounting policy of the organization, based on assumptions other than those provided for in paragraph 5 of these Regulations, such assumptions, together with the reasons for their application, must be disclosed in the financial statements.

20. If there is significant uncertainty in the preparation of financial statements about events and conditions that may cast significant doubt on the applicability of the going concern assumption, then an entity shall identify such uncertainty and unambiguously describe what it is associated with.

21. In the event of a change in accounting policy, an entity shall disclose the following information:

The reason for the change in accounting policy;

The procedure for reflecting the consequences of changes in accounting policies in the financial statements;

The amount of adjustments associated with a change in accounting policy for each item of the financial statements for each of the reporting periods presented, and if the organization is required to disclose information on earnings per share, also according to data on basic and diluted earnings (loss) per share;

The amount of the corresponding adjustment relating to the reporting periods preceding those presented in the financial statements, to the extent that this is practicable.

If the change in accounting policy is due to the application of a regulatory legal act for the first time or a change in a regulatory legal act, the fact of reflecting the consequences of a change in accounting policy in accordance with the procedure provided for by this act is also subject to disclosure.

22. If the disclosure of the information provided for in paragraph 21 of these Regulations for any separate previous reporting period presented in the financial statements, or for reporting periods earlier than those presented, is impossible, the fact of the impossibility of such disclosure shall be disclosed together with an indication of the reporting period in which the application of the corresponding change in accounting policy will begin.

23. In the event that a regulatory legal act on accounting has been approved and published, but has not yet entered into force, the organization must disclose the fact of its non-application, as well as a possible assessment of the impact of the application of such an act on the financial statements of the organization for the period in which application begins.

24. Significant methods of accounting, as well as information on changes in accounting policies, are subject to disclosure in an explanatory note included in the financial statements of the organization.

In the case of presentation of interim financial statements, it may not contain information about the accounting policy of the organization, if the latter has not changed since the preparation of the annual financial statements for the previous year, in which the accounting policy is disclosed.

25. Changes in the accounting policy for the year following the reporting one are announced in the explanatory note to the financial statements of the organization.

Appendix No. 2
to the Order of the Ministry of Finance of the Russian Federation
dated 06.10.2008 N 106n

POSITION
FOR ACCOUNTING "CHANGES IN ESTIMATED VALUES"
(PBU 21/2008)

(As amended by the Order of the Ministry of Finance dated October 25, 2010 N 132n)

1. This Regulation establishes the rules for recognizing and disclosing in the financial statements of organizations that are legal entities under the laws of the Russian Federation (except for credit institutions and state (municipal) institutions) (hereinafter referred to as organizations), information on changes in estimated values.

(As amended by the Order of the Ministry of Finance dated October 25, 2010 N 132n)

A change in the way assets and liabilities are valued is not a change in the estimated value.

4. A change in the estimated value, with the exception of the change specified in paragraph 5 of these Regulations, is subject to recognition in accounting by including in the income or expenses of the organization (prospectively):

the period in which the change occurred, if such a change affects the financial statements of only this reporting period;
the period in which the change occurred, and future periods, if such a change affects the financial statements of this reporting period and the financial statements of future periods.

The new provision does not give a clear concept of "estimated value". At the same time, it has long been used by practicing accountants and auditors. In particular, the issues of auditing estimated values are discussed in detail in Rule (standard) No. 21 “Peculiarities of auditing estimated values”. According to paragraph 3 this standard, estimated values are approximately determined or calculated by the employees of the audited entity on the basis of professional judgment of the values of certain indicators in the absence of precise ways to determine them. The list of estimated values is given in paragraph 3 of PBU 21/2008. So, in construction organizations, estimated values can include estimated reserves: for doubtful debts, for warranty repairs, for depreciation of material assets, upcoming expenses and so on.; useful lives of depreciable assets, etc.

The procedure for recognition in accounting

Estimated values have a different order.

LLC "Stroyprom" in March 2009 purchased and put into operation construction equipment. The initial cost of construction equipment for accounting and tax accounting- 590,000 rubles. (including VAT - 90,000 rubles). Let us assume that the organization has set a useful life for accounting purposes - three years, and in tax accounting - five years. The depreciation method is straight-line.

At the end of the reporting year, the organization decided to revise the useful life of the fixed asset in accounting, increasing it to four years in connection with the revision of the construction process technology. Despite the fact that PBU 6/01 “Accounting for fixed assets” does not provide for a change in the useful life of fixed assets, this normative act there is no express prohibition. Due to the fact that PBU 21/2008 has been in force since 2009, the construction organization has the right to revise the useful life. accounting records will look like this.

In March 2009:

Debit 08 Credit 60
- 500,000 rubles. - reflects the cost of purchased construction equipment;

Debit 19 Credit 60
- 90,000 rubles. - reflected the amount of VAT presented by the supplier;

Debit 01 Credit 08
- 500,000 rubles. - fixed asset object is accepted for accounting;

Debit 68 Credit 19
- 90,000 rubles. – the amount of VAT presented by the supplier is accepted for deduction;

Debit 60 Credit 51
- 590,000 rubles. – the cost of purchased construction equipment was paid to the supplier.

Monthly from April to December 2009:

Debit 25 Credit 02
- 13,888.89 rubles. (500,000 rubles: 3 years: 12 months) - depreciation was charged on the fixed asset.

The useful life in accounting and tax accounting is different, therefore, the organization, in accordance with the norms of PBU 18/02 “Accounting for income tax settlements”, takes into account temporary differences and the corresponding deferred tax assets. For tax purposes, the amount of accrued depreciation will be 8333.33 rubles. (500,000 rubles: 60 months). As a result, a deferred tax asset is recognized on a monthly basis:

Debit 09 Credit 68
- 1011.11 rubles. ((13,388.89 rubles - 8,333.33 rubles) x 20%) - deferred tax asset is reflected.

The total amount of accumulated deferred assets at the end of 2009 will amount to 9,099.99 rubles. (1011.11 rubles x 9 months). At the end of the reporting year, the organization increased the useful life of construction equipment, which means that the depreciation amount is recalculated based on the new useful life.

The depreciation amount at the end of 2009 will be equal to 125,000 rubles. (500,000 rubles: 3 years: 12 months x 9 months). The amount of accrued depreciation based on the results of 2009, taking into account the new useful life, will be 93,750 rubles. (500,000 rubles: 4 years: 12 months x 9 months).

Thus, the amount of RUB 31,250 will be recognized as a change in the estimated value. (125,000 - 93,750). In this case, the construction company decided to change the useful life based on the results of 2009. Therefore, the resulting adjustments are reflected in accounting and reporting at the beginning of the reporting year as changes in estimated values.

Debit 02
- 31,250 rubles. - the balance of account 02 was adjusted due to a change in the useful life of the fixed asset;

Credit 09
- 6250 rubles. ((125,000 rubles - 93,750 rubles) x 20%) - the balance of account 09 was adjusted due to a change in the amount of accrued depreciation and the amount of deferred tax assets;

Credit 84
- 25,000 rubles. (31,250 – 6250) – the balance of retained earnings has been adjusted due to a change in the estimated value.

Reflection of information in financial statements

According to paragraph 6 of PBU 21/2008, in the explanatory note, the organization must disclose the following information:
- the content of the change that affected the financial statements for this reporting period;
- the content of the change that will affect the financial statements for future periods. The exception is cases when it is impossible to estimate the impact of the change on the financial statements for future periods.

Change in estimated value. Change in estimates I

ON APPROVAL OF REGULATIONS ON ACCOUNTING

POSITION FOR ACCOUNTING "ACCOUNTING POLICY OF THE ORGANIZATION" (PBU 1/2008)

POSITION FOR ACCOUNTING "CHANGES IN ESTIMATED VALUES" (PBU 21/2008)

The procedure for recognition in accounting

POSITION
FOR ACCOUNTING "ACCOUNTING POLICY OF THE ORGANIZATION"
(PBU 1/2008)

POSITION
FOR ACCOUNTING "CHANGES IN ESTIMATED VALUES"
(PBU 21/2008)