The rules for recognition and disclosure in the financial statements of organizations of information on changes in estimated values are established by PBU 21/2008, approved. Order of the Ministry of Finance of the Russian Federation dated October 6, 2008 No. 106n.
What is a change in estimates
A change in the estimated value is recognized adjustment the value of an asset (liability) or a value reflecting the redemption of the value of an asset, due to the emergence of new information, which is 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.
Example
As of December 31, 2011, a reserve for the doubtful debt of debtor "A" in the amount of 100,000 rubles was formed in the organization's accounting records. According to the annual inventory, the debt was overdue, and on the basis of the debtor's financial statements, the organization came to the conclusion that the debtor's financial position was unsatisfactory. AT balance sheet as of 31.12.2011 accounts receivable counterparty "A" rated as equal to zero (debit balance on subaccount 62-"A" minus credit balance subaccount 63-"A"). In other words, the doubtful receivables of the counterparty "A" in the financial statements of the organization for 2011 are not reflected in the assets.
During 2011 cash not received from the debtor. According to the rules established by clause 70 of the Regulation on Accounting and Accounting in the Russian Federation (Order of the Ministry of Finance dated July 29, 1998 No. 34n), as of December 31, 2012, the unused reserve was restored: Debit 63 Credit 91-1 - 100,000 rub.
During the period of compiling the annual financial statements for 2012, the organization received information that counterparty "A" was taking measures to financially improve the business. In addition, part of the debt was repaid. In this regard, the management of the organization decided not to form a reserve for doubtful debts in relation to counterparty "A". Accordingly, in the financial statements of the organization for 2012, the receivables of counterparty "A" are reflected in the amount of 100 thousand rubles.
Recognition in accounting
Depending on the impact of the change in the estimated value on the financial statements, it is recognized in accounting:
By including in the income or expenses of the organization prospectively, that is, in reporting period or in the reporting and future periods;
- (or) by adjusting the relevant capital items in the financial statements for the period in which the change occurred.
Example
The organization registered a trademark in March 2011. The initial cost is 240,000 rubles, the term beneficial use– 10 years (120 months). The depreciation method is straight-line.
Monthly depreciation amount - 2,000 rubles. (240,000 rubles: 10 years: 12 months). In 2011, depreciation was charged - 18,000 rubles. (2,000 rubles x 9 months), in 2012 - 24,000 rubles.
At the end of 2012, the organization decided that it would release 240 units of products with this trademark, including 40 units in 2011, 100 units in 2012, and 100 units in 2013, and stop using it.
Since 2013, the method of calculating depreciation for a trademark has been changed: “linear method” to “proportional method”.
As a result, depreciation has been recalculated as follows:
For 2011 - 40 units. x (240,000 rubles / 240 units) = 40,000 rubles;
For 2012: 100 units. x (240,000 rubles / 240 units) = 100,000 rubles.
The change in the estimated value (the amount of accrued depreciation) amounted to:
For 2011 - 22,000 rubles. (40,000 - 18,000);
For 2012 - 76,000 rubles. (100,000 - 24,000).
The following entries were made in accounting on December 31, 2012:
Debit 84 Credit 05 - 22,000 rubles. – for the amount of depreciation relating to 2011;
Debit 44 Credit 05 - 76,000 rubles. - the amount of depreciation relating to 2012.
In the balance sheet, presented as part of the financial statements for 2012, in the column "As of 31.12.2011" adjusted (reduced) in the amount of 22 thousand rubles. the line "Intangible assets" (in the asset balance) and the line " Undestributed profits"(in the liabilities side of the balance sheet).
Note!
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.
PBU 6/01 does not contain a similar rule for fixed assets.
It's important to know
1. A change in the method of valuation of assets and liabilities is not a change in the estimated value.
For example, changing the method of writing off a group of material production stocks from the beginning of the next year (“FIFO” instead of “ average cost") is an element accounting policy and applies only to those inventories that will be written off starting next year.
2. 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 financial statements it is recognized as a change in an estimated value.
This publication contains the main regulations governing accounting: the federal law“On Accounting”, Regulation on Accounting and Accounting in Russian Federation, as well as all applicable provisions on accounting taking into account all recent changes. The publication is intended for accountants, auditors, employees of tax and financial services, students, graduate students, teachers of economic universities and colleges, lawyers and heads of organizations.
A series: Russian legislation
by the LitRes company.
Position
accounting "Change in estimated values" (PBU 21/2008)
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 budget institutions) (hereinafter referred to as organizations), information about changes in estimated values.
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 reserve 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, 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 financial statements 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 paragraph 5 of 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;
period in which the change occurs and future periods if such change affects financial statements this reporting period and 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 explanatory note In addition to the financial statements, the organization must disclose the following information about the change in the estimated value:
The following excerpt from the book 23 Accounting Provisions (Authors, 2010) provided by our book partner -
Position
in accounting "Changes in estimates"
(PBU 21/2008)
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.
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. Estimated value is the value of the reserve 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 financial statements 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 paragraph 5 of 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.
Building a team of sales professionals
Estimated valuesSuch 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 reserveAn allowance for impairment is formed at the expense of financial results enterprises. Its amount is the difference between the actual cost of inventories and their current market value, provided that this difference is positive (clause 25 PBU 5/01 "Accounting for inventories").
AT general view the creation and write-off of a reserve for the impairment of inventories can be described as follows. If there are reasons to believe that market price 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 reduction.
Subsequently, as of 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 company 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 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.
Because the total amount 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).
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.
Compulsory casting book value inventory to net realizable price level is due to the view that assets should not be carried above the amounts that can be obtained from their sale to the side.
* 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.The value of inventories transferred to production cannot fall below their actual purchase price if the finished product in which they were used is 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-down of inventories cease to exist, the amount of the reduction must be reversed, but within the limits of the previous write-down.
If, however, 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 stocks, then in such cases there are estimated liabilities that should be considered in accordance with the standard “Reserves, contingent liabilities and contingent liabilities”. 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.
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 budgetary institutions) (hereinafter referred to as organizations), information on changes in estimated values.
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. Estimated value is the value of the reserve 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 financial statements 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 paragraph 5 of this Regulation, is subject to recognition in accounting by including in the income or expenses of the organization (prospectively):
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:
The fact of the impossibility of such an assessment is also subject to disclosure.
