How to determine the financial result from the sale of goods. How to calculate financial results

Topic No. 11 Accounting for financial results of an enterprise

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

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

The financial result of an organization’s activities is the profit or loss for the reporting period and represents the difference between income and expenses.

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

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

2) other income and expenses,

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

— account 90 “Sales”,

— account 91 “Other income and expenses”,

— account 99 “Profits and losses”.

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

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

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

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

Every month, on the first two accounts, the identified financial result for the specified groups of income and expenses, which is written off to account 99.

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

In accounting, data during the reporting year on account 99 “Profits and losses” reflects the final results on accounts 90 “Sales”, 91 “Other income and expenses”

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

Income tax.

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

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

Ø statutory activities of non-profit organizations at the expense of targeted revenues and budget funds,

Ø the activities of organizations that use a simplified taxation system or pay a single tax on imputed income.

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

The income of an enterprise for the purposes of calculating income tax is divided into two groups:

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

2. other income.

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

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

2. other expenses.

Other income includes the following types of income:

Ø the amount of rent,

Ø interest on loans issued,

Ø the amount of fines recognized by debtors,

Ø funds received free of charge,

Ø other similar income.

Other costs combine the following types of costs:

Ø expenses for maintaining property leased,

Ø legal costs,

Ø expenses for banking services,

Ø interest on debt obligations

Ø losses from previous tax periods.

The income tax rate is set at 20%

Example of accounting for financial results

Task No. 1

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

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

Determine the financial result, make accounting entries.

Dt 62 – Kt 90 account 1 – 1200000 – revenue from the sale of products is reflected,
D-t 90 ch.3 – K-t 68 – 183051 rub. – reflects the amount of VAT on the sale of products,
Dt 90 count 2 – Set 43 – 600,000 rub. – reflects the cost of production,
Dt 90 count 2 – Set 44 – 25,000 rub. – reflects the amount of business expenses,
D-t 76 – K-t 91 account 1 – 50,000 rub. reflects the amount of income from the rental of property,
D-t 91 ch.2 – K-t 68 – 7627 rub. – reflects the amount of VAT from the rental of property,
D-t 91 ch.2 – K-t 60 – 45,000 rub. – reflects the amount of expenses from leasing the property,
D- 90 count 9 – Set 99 — 391949 rub. - reflects the amount of profit from sales of products,
D-t 99 – K-t 91 ch.2 – 2627 rub. — reflects the amount of loss from other income and expenses,
D-t 99 – K-t 84 – 388,722 rub. — the amount of retained earnings of the reporting period is determined.

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

Financial result from other income and expenses - (loss) - 2627 rubles. = (50,000 rub. – 7,627 rub. – 45,000 rub.)

The amount of retained earnings will be 388,722 rubles. = (RUB 391,949 -RUB 2,627)

Task No. 2

Calculation of corporate income tax

Accounting entry – Debit 99 – Credit 68 accounts (corporate income tax) – 2800 – corporate income tax accrued.

Problems to solve independently

When completing tasks, use applications No. 1

Task No. 1.

Income and expenses from ordinary activities

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

Be smart!

Selling expenses amounted to 25,000 rubles. At the end of the reporting period, revenue in the amount of 210,000 rubles was received into the organization’s bank account in payment for shipped products.

Task No. 2.

In the reporting period, the organization sold finished products for 276,000 rubles. (including VAT 18%.). Ownership of the shipped products passes to the buyer at the time of payment. Selling expenses are fully written off to the cost of goods sold for the reporting period. The cost of shipped products is 160,000 rubles. Selling expenses amounted to 25,000 rubles. At the end of the reporting period, revenue in the amount of 210,000 rubles was received into the organization’s bank account in payment for shipped products.

Prepare accounting entries and determine the financial result from product sales.

Task No. 3.

Other income and expenses

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

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

— income from shares of a joint-stock company owned by the organization – 30,000 rubles;

— interest on a loan provided to an employee – 400 rubles.

The organization incurred the following expenses:

— a fine was recognized for payment for violation of the terms of the lease agreement - 4,000 rubles;

— accounts receivable with an expired statute of limitations were written off - RUB 15,000.

Prepare accounting entries and determine the balance of other income and expenses.

Task No. 4.

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

Cost of products sold is 800,000 rubles.

Proceeds from the sale of products were transferred to the bank account.

Sold materials to a third party in the amount of RUB 30,000.

The proceeds for the materials were credited to the bank account.

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

Expenses for selling finished products amounted to 5,000 rubles.

Paid for bank services - 800 rubles.

Overdue receivables of RUB 35,000 were written off.

Determine the financial result. Prepare accounting entries.

Problem #5

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

Determine financial results and prepare accounting entries.

Problem No. 6

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

Self-test questions

How to determine financial results

The principle of continuity - the enterprise operates indefinitely.

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

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

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

7. National currency principle - accounting uses the method of valuing funds in constant currency throughout the reporting period.

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

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

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

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

Objectives of financial accounting.

1. Formation of complete, reliable information about the activities of the enterprise necessary for users.

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

3. Prevention of negative business results.

4. Identification of internal reserves to ensure the financial stability of the enterprise.

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

Financial result in accounting - a little theory

Let's start by recalling our formula for financial results. This is what she looks like.

Result = Revenue from activities (Revenue) - Expenses for activities

if Result > 0, then Profit
if Result< 0, тогда Убыток.

This is a general formula in accounting terms. Now we will rewrite it using accounts. I suggest doing this yourself. Completing this assignment is nothing more than testing your understanding of how accounting works and your knowledge of basic accounting accounts. Rewrite the previous formula using abacus and then compare your answer with mine.

The formula that we just successfully recalled shows the result of all the activities of the company. And, of course, throughout a number of articles we have come across mentions that firms have primary and non-core activities. What is it? And how is this reflected in the formula?

To begin with, let us recall the concepts of main and non-core activities of an enterprise.

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

Accounting main activity occurs on accounts:

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

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

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

Another situation. The bank issued a loan to our company. To do this, the bank opened a current account for us, into which we deposited money. While the money is lying around, that is. Our company does not use everything right away; interest is charged on the deposit. This accrued amount of interest on the deposit will be income for the company. and this income relates to non-core activities.

Another situation may be when an enterprise receives penalties or fines from suppliers or buyers in case of violation of supply or payment agreements.

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

So, our formula for financial results is divided into two: for the main and non-core activities. Try to write them yourself, using account 90 for the main activity, and 91 for non-main activity.

Where are taxes in the financial result of accounting?

Let's look at this issue. We know three groups of taxes:

taxes from payroll,
income taxes
taxes independent of profit (Property, Land, Transport, VAT, etc.)

Taxes from the payroll fund (payroll)

We include taxes on the payroll fund (PFR), social insurance (FSS) and health insurance (FFOMS). The company pays these taxes at its own expense and has every right to include them as costs/expenses. Therefore, payroll taxes are located in cost/expense accounts, namely 20, 23, 25, 26, 44. These taxes appear in accounting accounts at the time of “closing the month” and provided that there are wages to employees. Those. There is a payroll for the current month. (there is a Credit Turnover on account 70)

Taxes not dependent on profit

Transport, Property and Land are the most common taxes. They are counted as expenses. But unlike payroll taxes taken into account in cost/expense accounts (20, 25, 26, 44), these tax amounts immediately go to account 91.2.

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

VAT, which is in the group of taxes that do not depend on profits, is accounted for differently. VAT is a tax for the fact that a mark-up is made on a product, product, service or work performed. VAT stands for value added tax. Those. the sales price of each product or service contains a certain amount of VAT (if, of course, the company is obliged to pay this tax). This amount of VAT, each time you register a sale, will go to:

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

Profit

But this tax cannot be included in the financial result formula. This tax is an expense of the business itself, i.e. at your own expense. It must be paid as a result of successful activity.

Income tax is calculated after we determine the “Result” sign. Remember the formula with which we started the article? If “Result” > 0 we have “Profit”, and if less - then “Loss”.

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

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

If the 99 account shows PROFIT (KO 99 is greater than TO 99), then the “Income Tax” is taken from the difference between KO99-DO99.

The received amount of “Income Tax” is added by posting (accrued) to Debit 99. And after this, the net profit of the enterprise will remain on account 99. Those. PROFIT, after all Expenses (expenses themselves and basic taxes) and “Income Tax”.

Financial result in accounting - primary documents

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

actions to collect all expenses (depreciation, closing 26, 25, 23, 20, 40, 44)
accrual of taxes from the payroll fund (payroll taxes)
calculation of taxes that do not depend on profit (once a quarter) (Transport, Property, Land)
final calculation of the financial result (closing 90 and 91 accounts. “rolling over the final figures to 99”)
accrual of income tax (once per quarter)

All the steps described, except for “calculating taxes that do not depend on profit,” are done at the end of the month, at the time of “Closing the month.” And the calculation of “taxes that do not depend on profit” must be done manually, before the “closing of the month”, since these amounts affect the financial result. So they have to get to 91 before it starts to close at 99.

Additionally

You noticed that in the financial result formula, I wrote down the expense part like this. At the same time, I highlighted the cost accounts in bold. Did you notice?

Accounting and analysis of financial results

I wanted to bring this to your attention and raise a couple of questions from you. Which?

Why is there no 20, 25 count here when there is 26?
Why are these accounts highlighted?

Let's take it in order.

Why is there no 20, 25 count here when there is 26

The presence of 20 and 25 accounting accounts is typical for manufacturing companies. And all firms except trading ones have a 26 account. When the procedure for “closing the month” begins for manufacturing firms, accounts 26 and 25 are closed at 20, and 20 is closed at 40.

But 40, if there are deviations between the actual price from production and the planned price at which the products arrived at the warehouse, will partially go into expenses of 90.2 for the goods sold and 43. Probably, the result is a complex proposal. To fully understand it, it will be necessary to analyze production in detail. This is the task of other materials.

For manufacturing enterprises, to obtain the cost of production, all expenses are collected into account 20. But what is included in the financial result formula? Only the cost of goods sold at the time of sale is included. And also expenses from account 44.

Then what does the 26th account in the financial result formula tell us? The presence of account 26, which transfers its amounts to account 90, is typical for companies providing services.

Why do you highlight these accounts in the formula?

Because these accounts do not exist in the formula! That's how! I wrote them so that you have an answer to the question “Where will the amounts from the accounts storing costs/expenses go and where will they end up?” These amounts will be in the financial result formula, but will be transferred there to the appropriate subaccounts.

Amounts from cost/expense accounts will be transferred to subaccounts:

90.7 “Sale expenses”. Amounts from account 44 will come here (production and trading activities, execution of work)
90.8 “Administrative expenses”. Amounts from account 26 (service activities) will come here.

This is where I will end this article. All you have to do is work through it, understand the patterns, basic situations and conditions. This knowledge is enough for each time you draw up a primary document to think about how the entry made will affect the financial result of accounting.

Now in our articles on the website we only have a highlighted basis from accounting theory. The next step is to practice your accounting skills. Stay on the site. All the most interesting things are yet to come.

Strengthen your knowledge

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

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

1. Receipt or proceeds from the rental of fixed assets and intangible assets

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

3. Profit from joint activities

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

5. Interest received for providing funds for use

6. Fines, penalties, penalties received for violation of contract terms

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

8. Proceeds from compensation for losses caused to the organization

9.8. DETERMINATION OF FINANCIAL RESULT FROM SALES

Profit of previous years identified in the reporting period

10. Amounts of accounts payable and depositors for which the statute of limitations has expired

11. Positive exchange differences

12. Amounts of revaluation of assets

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

The composition of other expenses is specified in PBU 10/99 “Expenses of the organization” as amended by orders of the Ministry of Finance of Russia No. 55-N dated April 27, 2012. In accordance with this document, other expenses are:

1. Expenses from leasing the organization’s assets

2. Expenses associated with participation in the authorized capital of other organizations.

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

4. Interest on loans and borrowings

5. Costs associated with paying for services to credit institutions

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

7. Fines, penalties, penalties paid for violation of contract terms

8. Compensation for losses caused by the organization

9. Losses of previous years recognized in the reporting period

10. Amounts of receivables for which the statute of limitations has expired and other debts that are unrealistic for collection

11. Negative exchange rate differences

12. Amount of asset write-down

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

14. Other expenses, including those arising from emergency circumstances

To determine the financial result from other activities, account 91 “Other income and expenses” is used. Other expenses are reflected in the debit of the account, and other income is reflected in the credit. The account is unbalanced, matching, operational-resulting.

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

Entries for subaccounts 91-1 and 91-2 are made cumulatively during the reporting year. Every month, by comparing the debit turnover of account 91-2 and the credit turnover of account 91-1, the balance of other income and expenses (financial result from other activities) for the reporting month is determined.

The financial result from other activities is written off monthly (with final turnover) from account 91-9 to account 99. Thus, synthetic account 91 does not have a balance as of the reporting date; it is not on the balance sheet.

Accounting for financial results necessary to assess the economic life of an enterprise. Using these indicators, you can analyze the efficiency of the enterprise as a whole and develop a further strategy for behavior in the market, therefore, correct accounting of financial results is very important from an economic point of view.

What is a financial result?

Financial result is the economic result of the economic life of an organization, which is expressed in the form of profit or loss. Profit is the amount by which revenue received exceeds expenses incurred. Simply put, when the company remains “in the black”. When an organization has incurred more expenses than it has earned from its activities, it is said to have received a loss. Information about financial results is important not only for internal control and management, but also for external parties interested in information of this kind. These include banking organizations that issue borrowed resources for use by the company at certain interest rates, insurance companies, property insuring organizations, investors investing in the development of the company, and others.

Profit is a relative measure of a company's performance. In general, it symbolizes the positive result of the enterprise. But based on profit analysis, different conclusions can be drawn. For example, after conducting a comparative analysis of profits over several years, a specialist can draw a conclusion about an increase or decrease in its value and an increase or decrease in the efficiency of the company.

The resulting loss signals the company's management about the inefficiency of commercial activities and the need to take measures to increase the company's profitability.

For effective analysis, it is important to organize timely and accurate accounting of the financial results of the organization.

Financial result from ordinary activities in accounting

The types of activities that are fixed in the constituent documentation can be classified as ordinary. Account 90 is intended for recording financial results. It is more convenient to maintain “ordinary” income and expenses in subaccounts opened to it:

1 - “Revenue”.
2 - “Cost of sales”.
3 - “VAT” (sales or “output” VAT).
4 - “Excise taxes”.
9 — “Profit/loss from sales.” It is in this subaccount that the final result of accounting for financial results is summarized.

Accounting for financial results from the normal activities of an organization can be represented by the following accounting entries:

Dt 62 Kt 90.1 - sales revenue accrued;
Dt 90.3 Kt 68 - VAT charged;
Dt 90.2 Kt 20 (41, 43, 44) - reflects the cost of products, works or services.

How to determine whether a company has made a profit or a loss? To do this, you need to compare the total turnover on the debit of accounts 90.2, 90.3, 90.4 with the turnover on credit 90.1. If the credit of the account 90.1 is greater than the debit turnover, then the company can record a profit: Dt 90.9 Kt 99. If the result is the opposite, then they speak of a loss received: Dt 99 Kt 90.9. Note that at the end of the reporting period there should be no balance on account 90.

Accounting for financial results from other activities of the organization

If income and expenses cannot be attributed to ordinary activities, then in this case the concept of “Other types of activities” is provided for them. The list of other income consists of:

income from the provision of property for rent;
financial benefits from securities and other investments;
proceeds from the sale of own assets (for example, fixed assets, intangible assets);
gratuitous economic benefits;
fines, penalties and penalties due, as well as compensation for damage caused;
positive exchange rate differences;
written off accounts payable after the expiration of the statute of limitations;
inventory surplus, etc.

The list of other expenses is similar to income:

cost and expenses related to the sale of assets;
VAT on sales transactions;
compensation for damage to third party contractors;
fines, penalties and penalties intended for payment;
commission of credit companies for settlement transactions;
accounts receivable after the expiration of the statute of limitations;
negative exchange rate differences;
economic benefits from received loans and borrowings and others.

To account for financial results from other activities, account 91 “Other income and expenses” was approved. Unlike account 90, it is enough to open only 3 subaccounts:

1 - “Other income”;
2 - “Other expenses”;
9 - “Balance of other income and expenses.”

The credit of account 91.1 reflects the income from other activities. It can be in correspondence with various accounts (depending on the source of income):

Dt 62 (76) Kt 91.1 - rent accrued;
Dt 62 (76) Kt 91.1 - accrued proceeds from the sale of assets (for example, fixed assets, intangible assets);
Dt 62 (76) Kt 91.1 - accrued dividends, interest and other income on securities, as well as from participation in the authorized capital of third-party companies;
Dt 66 (67) Kt 91.1 - interest accrued on previously issued long-term and short-term loans and borrowings;
Dt 98 Kt 91.1 - income from property received free of charge is reflected;
Dt 60 (62, 76) Kt 91.1 - accounts payable with an expired statute of limitations are written off;
Dt 52, 57 Kt 91.1 - a positive exchange rate difference was identified when selling currency;
Dt 63 Kt 91.1 - the amount of the reserve for doubtful debts is included in other income;
Dt 50, 10, 41, 43 Kt 91.1 - surpluses were identified based on the results of the inventory.

And the debit of account 91.2 is intended to reflect expense transactions:

Dt 91.2 Kt 01.2 - the residual value of fixed assets intended for sale is written off;
Dt 91.2 Kt 04.2 - the residual value of intangible assets intended for sale is written off;
Dt 91.2 Kt 10 - the cost of materials intended for sale is written off;
Dt 91.2 Kt 68 - VAT is charged on transactions for the sale of fixed assets, intangible assets and materials;
Dt 91.2 Kt 66 (67) - interest accrued on short-term and long-term loans and borrowings received;
Dt 91.2 Kt 60 (62, 76) - expired accounts receivable written off;

Dt 91.2 Kt 76 - bank commission charged for conducting settlement transactions;
Dt 91.2 Kt 52, 57 - negative exchange rate difference is reflected.

The meaning of calculating the final financial result is completely similar to account 90:

Like the score 90, the score 91 assumes there is no balance on it.

How to determine the final financial result?

Taking into account the financial results for ordinary and other activities, we figured it out. But how to determine the overall financial result for the enterprise as a whole? First, let's define what it consists of.

The final financial result includes:

financial result obtained from ordinary activities;
financial result identified from other activities;
extraordinary income and expenses;
accrual of income tax.

The result of accounting for financial results for ordinary activities is reflected:

Dt 90.9 Kt 99 - profit;
Dt 99 Kt 90.9 - loss.

The balance of accounting for financial results for other activities is as follows:

Dt 91.9 Kt 99 - profit on other operations is reflected;
Dt 99 Kt 91.9 - loss received from other activities.

Extraordinary income and expenses include amounts arising due to circumstances that cannot be foreseen, for example, as a result of natural disasters, catastrophes, fires, accidents, natural hazards, etc.

Such income and expenses can be reflected in the following accounting entries:

Dt 99 Kt 01.2, 10, 41, 43 - the residual value of fixed assets, materials, goods and finished products that were damaged as a result of an emergency situation, for example, a fire in the warehouses of the enterprise, is written off;
Dt 10 Kt 99 - materials suitable for further use remaining after damaged fixed assets, goods, finished products have been capitalized;
Dt 76 Kt 99 - reflects the amount of insurance compensation for destroyed property if it was insured.

Income tax is required to be assessed and paid by Russian and foreign companies that operate within the territory of our country and apply the general tax regime. It is reflected in the following entry in the accounting accounts:

Dt 99 Kt 68.4 - income tax is charged, which is intended to be transferred to the budget system of the Russian Federation.

You can learn how to determine the amount of income tax from the publication.

For the entire financial year, the balance of profits and losses in accounts 90 and 91, the amounts of extraordinary income and expenses, as well as accrued income tax are accumulated in account 99. At the end of each year, the result of accounting for financial results is determined and final entries are made using account 84 “Retained earnings” (uncovered loss)":

Dt 99 Kt 84 - net profit received.
Dt 84 Kt 99 - the loss of the financial year is reflected.

Thus, account 99 is completely closed at the end of the year and cannot have a balance.

Accounting for the use of profits

Profit is a positive result of the company's activities as a whole. Every enterprise is interested in increasing it. But making a profit alone is not enough for the further development of the organization. Its rational and effective use is of great importance. Net profit is the profit remaining at the disposal of the enterprise after paying income tax. It is reflected in the credit of account 84 and is subject to further distribution.

Find out how to analyze a company's net profit from our article.

The main directions of distribution of net profit:

Creation of reserve capital. For joint-stock companies, its creation is a prerequisite; other enterprises can create it at their discretion:

Dt 84 Kt 82 - reserve capital was formed at the expense of net profit.

Repayment of losses from previous years:

Dt 84 Kt 84 - the loss of previous years is repaid.

Accrual and payment of dividends to company participants:

Dt 84 Kt 75 (70) - dividends are reflected.

Account 70 is used when the shareholders are employees of the enterprise.

Based on the results of the financial year, the enterprise may receive a loss, which is also reflected in account 84. It can be covered in several ways:

Using additional capital:

Dt 83 Kt 84.

At the expense of the amount of reserve capital that was created in previous reporting periods after the distribution of net profit:

Dt 82 Kt 84.

Due to additionally attracted contributions from company participants:

Dt 75 (70) Kt 84.

Thus, the rational use of profits allows the enterprise to remain more sustainable in the future. Modern economists consider the creation of reserve capital to be one of the most effective ways to use net profit. It will help the company in the future to cover losses from its activities, which are possible in an unstable economic situation.

Analysis of the financial results of the organization's activities

The financial result of the financial year shows the effectiveness of the commercial activities of the enterprise. Timely and complete accounting of financial results is important from an economic point of view, as it allows you to obtain the most reliable data and conclusions. Analysis allows you to identify the weaknesses of the enterprise and find a more rational use of available resources. Analysis data can be used for current and strategic planning of the company's activities in the future.

The main purpose of analysis, as well as accounting for financial results, is to assess the state of the enterprise as a whole. Such data is necessary not only for the management of the enterprise, but also for the company specialists responsible for its further development. Basically, the analysis uses a deductive method, that is, a movement from general data of accounting for financial results to specific ones.

Accounting for financial results involves the preparation and submission of financial statements. Profit occupies one of the key places when carrying out analytical calculations. A distinction is made between the analysis of accounting and economic profits of an enterprise. The difference between them lies in the manner in which profit is determined.

The calculation of accounting profit is based on accounting data. It is this profit that we see in the income statement. Accounting profit recognizes only explicit costs for real and documented business transactions. When determining economic profit, experts also take into account implicit costs. Because of them, the difference between accounting and economic profit is formed. Implicit costs represent alternative resources or lost economic opportunities (benefits). For example, a company has a savings deposit with a credit institution. If it had additionally invested certain financial resources into it during the year, then the income on the deposit could have increased. The amount of possible, but not received interest on the deposit will be lost economic profit.

Each type of profit can be analyzed using basic techniques:

Comparative analysis, which involves comparing the same indicators over similar periods of time, and also reveals deviations between them, up or down.
Structural analysis aimed at calculating the structure of each indicator in the total weight of all data and the dynamics of its change.
Factor analysis, which is used to determine the influence of each factor on the economic result and identify the relationships between them.

Each enterprise that is interested in further increasing profits must choose those analysis methods that best suit its specific activities and industry.

Formulas for calculating the main indicators that characterize the company’s activities can be found in the article.

Results

The financial result is the result of the financial activities of the organization. It shows how effective the company's activities were as a whole. Profit is a relative indicator of an organization's performance. It indicates a positive result of the activity. However, after conducting analytical procedures, other conclusions about the efficiency of the enterprise can be made.

Accounting for financial results for ordinary types of activities is carried out on account 90, for other types of activities - on account 91. The final financial result is determined on account 99 and consists of the balance of income and expenses for ordinary and other types of activities, extraordinary income and expenses, accrued tax on profit of organizations.

At the end of each year, account 84 reflects the amount of net profit or uncovered loss. Net profit is subject to distribution and must be used rationally from an economic point of view. The loss of the reporting period can be covered using additional and reserve capital, as well as by attracting additional contributions from company participants.

Currently, a large number of techniques for analyzing financial results are used. They are carried out by different services and management levels of the enterprise. The analysis can be carried out on the basis of accounting or economic profit. Each type of analysis and accounting of financial results is closely related to each other. Without the final accounting data of financial results, it is impossible to carry out any type of analysis.

Products shipped and paid for by customers, as well as work performed and services accepted by the customer, are considered sold. Products are sold at a price that is set by the enterprise independently, taking into account market prices for similar products.

The total cost of products sold consists of its production cost and commercial expenses associated with its sale.

Profit from sales is defined as the difference between the selling price - revenue and the full cost of products sold.

To account for sales of products, work performed and services provided, active-passive account 90 “Sales” is used.

Account scheme 90 “Sales”

At the end of each month, account 90 “Sales” is closed to determine the financial result, therefore account 90 does not have a balance and is not reflected in the balance sheet.

The financial result from the sale of finished products can be profit or loss, which is written off to account 99 “Profits and losses”.

Let's look at an example of how the financial result from sales on account 90 “Sales” is determined.

Example 9.1. Determination of the financial result from the sale of products.

Account 90 “Sales” (sales at a loss)


SP = 53,000 KR = 9000	B = 60000 UB = 2000

To determine the financial result from the sale of products, it is necessary to close account 90 “Sales”. To do this, you need to calculate the amount of transactions on the debit and credit of the account, and then equalize the turnover according to the maximum amount. If the additional amount for equalizing turnover is in the debit of account 90, then this is profit, which is written off to account 99 with the following entry:

DEBIT 90 “Sales” CREDIT 99 “Profits and losses”. If the additional amount is in the credit of account 90, then this is a loss, the amount of which is written off with the following entry:

DEBIT 99 “Profit and Loss” CREDIT 90 “Sales”.

Let's consider a typical accounting entry scheme to account for the implementation process.

Example 9.2. Typical scheme for accounting for product sales.

During the month, the business transactions shown in table are reflected. 9.2.

Exercise. Determine the financial result from product sales.

Table 9.2

To determine the financial result, it is necessary to collect and close the account 90.

Account 90 “Sales”


5) 44000 6) 800 7) 6200

The financial result from the sale of products is a profit in the amount of 6200 rubles, which is written off to account 99 with the following posting:

DEBIT 90 “Sales” CREDIT 99 “Profits and losses”.

Since account 90 “Sales” records not only the sales of products, but also works and services, adjustments can be made to this scheme of accounting entries documenting sales transactions depending on the applicable sales accounting rules. For example:

1) if money was received for the product first, i.e. prepayment was made, and then it was shipped to the buyer, then account 45 “Goods shipped” falls out of this scheme. In this case, the cost of products sold is written off from the warehouse using the following posting:

DEBIT 90 “Sales” CREDIT 43 “Finished products”;

2) if services are provided and work is performed, then account 43 “Finished products” drops out of the scheme. In this case, the cost of work and services sold is written off as follows:

DEBIT 90 “Sales” CREDIT 20 “Main production”. Let's look at examples of how records are kept for the sale of work and services.

Example 9.3. Accounting for the implementation of work.

Customer enterprise A entered into an agreement with contractor enterprise B for the preparation of the zero cycle and laying the foundation of a warehouse building in the amount of 100,000 rubles.

Contractor company In 60% of construction work in the amount of 53,000 rubles. completed independently, and to complete 40% of the work costing 36,000 rubles. entered into an agreement with subcontractor S.

Exercise. Make entries to account for the implementation of work at contractor B and determine the financial result from the implementation of work.

The cost of work includes wages for construction work, social tax on wages, the cost of building materials, depreciation of construction machinery, etc. (Table 9.3).

Table 9.3

To determine the financial result from the implementation of work, you need to collect and close account 90.

Account 90 “Sales”


4) 89000 5) 11000

The financial result - profit from the implementation of work at contractor B - amounted to 20,000 rubles.

Example 9.4. Accounting for the sale of services (photo studio).

During the month, the business transactions shown in table are reflected. 9.4.

Exercise. Determine the cost of photographic work for the month and the financial result from the sale of services.

Table 9.4

	Amount, rub.
1. Within a month, photographic materials were written off for work
2. Depreciation of photographic equipment has been calculated for the month
3. Rent for the use of the premises has been calculated for the month
4. Salaries accrued to employees
5. Social tax on wages has been calculated
6. Utility bill accepted and paid
7. Inventory for photographic work written off
8. Compensation was paid from the cash register for the use of personal vehicles for production purposes
9. The compensation paid is written off as the cost of work

eleven . Revenue for performing photographic work within a month is reflected
12. Commercial expenses associated with the sale of services have been written off
13. The cost of work performed is written off
14. Financial result for the month is written off

The photo studio is a small enterprise, therefore, accounting for the costs of performing work is carried out using only account 20, i.e., without dividing costs into direct and indirect costs.

To determine the cost of photographic work for the month, it is necessary to collect and close account 20, provided that there are no unfinished orders at the beginning and end of the month, i.e. Sn and Sk are equal to zero.

Account 20 “Main production”

The financial result - profit from the sale of photographic services for the month - amounted to 2202 rubles.

Instructions

Open an accounting account number 90 (“ Sales"). This will help you analyze all the information about the goods sold and subsequently determine the value of the financial result A. The credit of the account must reflect the amount of proceeds from the sale of goods at selling prices. In turn, its debit includes the production cost of goods sold, the cost of packaging, excise taxes, commercial expenses, the amount of tax payments, as well as other expenses of the enterprise. In the final result e by debit should be the value of the actual full cost of the commodity products with deductions and taxes, and for a loan - the value of the amounts paid by buyers for the products.

View subaccounts by opening them under the account " Sales" They will allow you to reflect the specific components of the values that are used in calculating the financial result A. For these purposes, open: “Sales revenue” 90.1 subaccount, “VAT” 90.2 subaccount, 90.3 subaccount “Cost of sales”, subaccount 90.4 “Export duties”, “Excise taxes” subaccount 90.5, “Sales tax” subaccount 90.6. Then, based on the accounts you reviewed, create a 90.9 subaccount called “Sales Profit/Loss.”

Calculate the turnover data obtained at the end of the month for the debit and credit of the account " Sales" Write off debit turnover on subaccounts 90.2-90.6 to credit subaccount 90.1. When comparing these values, determine whether financial is positive or negative result from the sale of goods. Write off the received amount from subaccount 90.9 to account 99 “Profit and Loss”. After this, account 90 should have no balance at the end of the month, but its subaccounts will accumulate a debit or credit balance every month.

Close under account 90 all open sub-accounts at the end of the reporting year, with the exception of one sub-account - 90.9. Using internal records, analyze the data for this subaccount. Thus, on the 1st day of the next reporting year (January 1), all subaccounts should have a zero balance. Certain financial result will allow you to assess the relationship between the amounts of income and expenses.

Sources:

how to find financial results

Financial result will help you reflect the relationship between income and expenses of your business. This indicator can be positive (profit) if income exceeds expenses, and negative (loss) when expenses exceed income.

Instructions

The profit that a company receives in result e sale of products of own production is called from the sale of goods or services. In this case, the indicator is calculated as the difference between the revenue received and the cost. In its full form, the formula can be presented as follows: Prp = C? Vр - Срп = Vр? (C - Sep), where Prp is the profit from sales of products, C is the price of a unit of production, Vp is the volume of products sold, Srp is the total cost of products sold, Sep is the total cost of a unit of production.

If an enterprise only sells goods or (without producing them), then in this case they talk about profit from sales, which can be calculated as the difference between gross profit and expenses (administrative + commercial). In full as follows: Psales = B – Srp – KR – UR, where Psales is profit from sales, B – revenue from sales of products, Srp? full cost of goods sold, KR - selling expenses, UR - administrative expenses.

Gross profit is calculated as the difference between sales revenue and the total cost of goods sold.

To obtain the profit before tax (Pdon), you need to add other income to Psales and subtract other expenses. Having calculated the Pdon, the organization pays the necessary payments and receives a net profit. The latter is the source of payment of founder's income and the formation of the enterprise's own capital.

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note

Financial result- this is the result of the economic activity of the enterprise, the increase or decrease in its equity capital. It is determined by comparing costs and income received for a certain period. Main indicators characterizing financial result- P & L.

Instructions

In practice, the most common way to calculate financial result and the next one. For a certain period of time (quarter, month), the amount of cash and non-cash funds received and spent is calculated. The resulting positive difference is a profit, a negative difference is a loss. If we add the balance at the beginning of the period to the resulting difference, we will have the real balance.

However, despite the convenience of this method, it is not entirely correct. The result we got is result active flow, or cache flow, i.e. the difference between revenues and expenses for a certain period. The amount received by us, which represents real money, may in fact be a monetary obligation. For example, these could be advances that a company owes to suppliers for goods received.

To determine financial result It’s not enough to know the difference between receipts and payments. It is precisely the profit that needs to be calculated, i.e. the difference between income and expenses. In this case, income, if it is not equal to the amount of funds received, will be determined “by shipment”. This method assumes that the company receives income at the time of transfer of goods to the buyer, and not at the time of receipt. In the same way, expenses are taken into account at the time of receipt of the goods.

With this method of determining financial result and with a negative cash flow, the profit can be positive. If the cash flow is calculated over a long period, then sooner or later, provided that the customer pays, it will be positive. The same cannot be said for profits.

However, this method also has some. First, information about receipts and expenses may only be available for some time. Secondly, the income calculated “by shipment” does not coincide with the amount of funds available at the moment. Therefore, for cash balances, it is necessary to carry out analysis (“by shipment”) and plan cash flow.

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Data that characterize various aspects of an enterprise’s activities related to education, as well as the use of all its funds and savings, are financial indicators. At the same time, the main and most frequently used financial indicators can be divided into five groups, reflecting different aspects of the financial condition of the company: liquidity ratios, profitability, business activity, sustainability (capital structure indicators) and investment criteria.

Instructions

Profitability ratios determine how profitable a company's operations are. The return on sales ratio shows the share of net profit in the volume of all sales of the enterprise. It can be calculated by the ratio of net profit to net profit multiplied by 100%.

The return on equity ratio determines the efficiency of using the capital that was invested by the owners of the enterprise. It is calculated using the following formula: net profit must be divided by and multiplied by 100%.

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Sources:

how to calculate financial ratios

To reflect the economic operations of manufacturing enterprises aimed at producing and selling finished products, accounting uses the financial result from the sale of goods. This value is determined monthly on the basis of documents that confirm the fact of sale.

Instructions

Use account 90 “Sales” to summarize all information about products sold and further determine the financial result. On the credit side of the account it is necessary to reflect the proceeds from sales at selling prices, and on the debit side - the production cost of products sold, the cost of packaging, selling expenses, excise taxes, value added tax and other costs of the enterprise. As a result, the debit collects information on the full actual cost of the goods with taxes and deductions, and the credit collects the amounts paid by customers when

Organizations receive the bulk of their profits from the sale of products, goods, works and services (realization financial result). Profit from the sale of products (works, services) is defined as the difference between the proceeds from the sale of products (works, services) in current prices without VAT and excise taxes, export duties and other deductions provided for by the legislation of the Russian Federation, and the costs of its production and sale. The list of these costs is determined by the Regulations on the composition of costs....

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

The amount of revenue from the sale of products, goods, performance of work, provision of services, etc. is reflected in the credit of account 90 “Sales” and the debit of account 62 “Settlements with buyers and customers.” At the same time, the cost of sold products, goods, works, services, etc. is written off from the credit of accounts 43 “Finished Products”, 41 “Goods”, 44 “Sales Expenses”, 20 “Main Production”, etc. to the debit of account 90 “Sales” .

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

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

In organizations engaged in retail trade and keeping records of goods at sales prices, the credit of account 90 “Sales” reflects the selling value of goods sold (in correspondence with the cash and settlement accounts), and the debit - their accounting value (in correspondence with the account 41 “Goods”) with the simultaneous reversal of the amounts of discounts (markups) related to the goods sold (in correspondence with account 42 “Trade margin”).

Sub-accounts can be opened for account 90 “Sales”:

90-1 “Revenue”; 90-2 “Cost of sales”; 90-3 “Value added tax”; 90-4 “Excise duties”; 90-9 “Profit/loss from sales.” Subaccounts 90-1, 90-2, 90-3, 90-4 take into account, respectively, the received proceeds from the sale of products, the cost of products sold, accrued VAT and excise taxes.

Organizations that pay export duties can open a subaccount 90-5 “Export duties” to account 90 to record the amounts of export duties. Subaccount 90-9 “Profit/loss from sales” is intended to identify the financial result from sales for the reporting month.

Entries for subaccounts 90-1, 90-2, 90-3, 90-4, 90-5 are made cumulatively during the reporting year. By monthly comparison of the total debit turnover in subaccounts 90-2, 90-3, 90-4 and 90-5 and credit turnover in subaccount 90-1, the financial result from sales for the reporting month is determined. The identified profit or loss is written off monthly with final entries from subaccount 90-9 to account 99 “Profits and losses”. Thus, synthetic account 90 “Sales” is closed monthly and has no balance at the reporting date.

At the end of the reporting year, all subaccounts opened to account 90 “Sales” (except for subaccount 90-9) are closed with internal entries to subaccount 90-9 “Profit/loss from sales”.

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

Table 12. Journal of business transactions.

		Corr. accounts

	Revenue from sales of products, goods, services, works is reflected
	The cost of goods sold, products, works, services is written off
	For the amount of taxes due on contributions to budgets for tax purposes (accrual basis)
	On the amount of VAT due upon receipt of payment for tax purposes (cash basis)

2.4 Accounting for other income and expenses

In the debit of account 91 “Other income and expenses”, subaccount “Other expenses”, other expenses are reflected during the reporting period:

Costs associated with the provision of temporary use (temporary possession and use) of the organization’s assets for a fee;

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

Expenses associated with participation in the authorized capital of other organizations;

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

Interest paid by an organization for providing it with funds (credits, loans) for use;

Expenses associated with payment for services provided by credit institutions;

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

Fines, penalties, penalties for violation of contract terms;

Compensation for losses caused by the organization;

Losses of previous years recognized in the reporting year;

Amounts of receivables for which the statute of limitations has expired, and other debts that are unrealistic for collection;

Exchange differences;

Amount of asset write-down;

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

Subaccount 9 “Balance of other income and expenses” of account 91 is intended to identify the balance of other income and expenses for the reporting month.

Entries in subaccounts 91-1 “Other income” and 91-2 “Other expenses” are made cumulatively during the reporting year. By monthly comparison of debit turnover in subaccount 91-2 “Other expenses” and credit turnover in subaccount 91-1 “Other income”, the balance of other income and expenses for the reporting month is determined. This balance is written off monthly (with final turnover) from subaccount 91-9 “Balance of other income and expenses” to account 99 “Profits and losses”. Thus, synthetic account 91 “Other income and expenses” does not have a balance as of the reporting date.

At the end of the reporting year, all subaccounts opened to account 91 “Other income and expenses” (except for subaccount 91-9 “Balance of other income and expenses”) are closed with internal entries to subaccount 91-9 “Balance of other income and expenses”. The formation of financial results from other operations occurs according to the following scheme.

Other income (turnover on credit account 91)

Other expenses (turnover in the debit of account 91)

Difference between other income and expenses (account balance 91)

Fig. 9. Scheme for generating financial results on account 91 “Other income and expenses”