The most common method and the easiest to use is the write-off at actual cost.
Note from the author! If the organization does not have inventory control, then at the end of the year, materials should be written off as much as possible. The presence of stocks in accounting causes bewilderment among inspectors, since there is nowhere to store the balances. You can leave only overalls.
The materials must reflect fixed assets worth less than 40,000 rubles. Of course, they will not be written off irrevocably, but at the end of the month they should be transferred to the off-balance sheet as low-value assets, so they should not be in Form No. 1.
The formula for reflecting material assets in the balance sheet:
Debit balance 10, 11 accounts - credit balance 14 accounts + debit balance 15, 16 accounts.
43 account " Finished products» is used to accumulate manufactured but not sold products of the enterprise. It is formed as a result of the use of raw materials and materials, after the processing of which the final product appears.
Finished products can be accounted for at actual or planned cost. When applying the actual method, typical wiring is as follows:
Debit 43 Credit 20 - products arrived at the warehouse.
Accounting according to the planned cost method involves the use of account 40 "Product output":
Debit 43 Credit 40 - items in stock are credited.
After the products are in the warehouse, they must be sold.
Info A positive difference indicates a net profit, and a negative difference indicates a loss.
General expenses include:
Organization - a professional market participant valuable papers under the article " Management expenses» reflects the amount of costs for its activities. The amount on line 040 is equal to the amount of costs written off in reporting period from the credit of account 26 to the debit of account 90.2 "Cost".
Important According to the data from the balance sheet and income statement, you can determine the effectiveness of the organization's activities, as well as calculate the main planned indicators. Provided that the leadership and financial department understand the meaning of terms such as profit, revenue, and sales on the balance sheet.
The sales volume of products in the balance sheet is the amount of revenue received for the sale of goods in the reporting period.
In this case, the form of calculations does not matter.
Products can be sold on credit, for cash, with a deferred payment or at a discount.
Therefore, for a more accurate calculation, the formula for calculating the net sales volume in the balance sheet is used, when the received revenue is adjusted for the amount of goods shipped on credit.
Sales volume reflects the amount of funds received by the company. Therefore, it should be calculated by all organizations. The indicator can be expressed in the quantity of goods sold, the amount of funds received, the monetary value of goods sold, etc.
First of all, you need to determine the revenue:
Revenue \u003d Volume of production: output x Price.
An enterprise that is a monopolist in the market does not change the price of a product. That is, the volume of sales depends only on the number of manufactured products.
To determine how efficiently the company operates, it is necessary to subtract from the amount of revenue received general expenses. Costs increase as output increases. This nuance should be taken into account when planning production.
Work is an action aimed at development.
Attention Therefore, it should be calculated by all organizations.
Unsold products enter line 1210 of the balance sheet as a debit balance.
Goods intended for sale are displayed in the balance sheet:
Debit balance of 41 accounts "Goods in stock" - credit balance of 42 accounts "Markup" + debit balance of 44 accounts "Sales expenses" + debit balance of 45 accounts "Goods shipped".
For example, the company Yuzhny Bereg LLC has the following data in its accounting records at the end of the year:
account, subaccount
Balance at the beginning of the period
Turnover for the period
balance at the end of period
Total deployed
Since the figures in the balance sheet according to the requirements of Order No. 66 n are shown in thousands or millions of rubles, then in line 1210 it is necessary to write:
50 - 50 + 50 + 6 = 56 thousand.
Work in progress must be reflected in the balance sheet as the sum of debit balances:
These are expense accounts.
In the first paragraph, the calculation formula looks like this: TR \u003d OGPn + GP - OGPk, where:
But in the current turbulent times, an increasing number of entrepreneurs and organizations prefer the cash method of accounting for revenue.
The formula for determining revenue according to paragraph two is as follows: TR=P*Q, where:
As you can see, nothing complicated. Example.
Calculation of revenue in formulas and examples Let's return to the definition of revenue and analyze what types of revenue exist:
In accounting, there are two ways to calculate revenue:
Analytical accounting for a sub-account should provide a breakdown into separate accounts of each type of cost in such a way that it is possible to isolate the amounts for commercial expenses (for packaging, storage, transportation and sale) of each type of product and management expenses (maintenance of the administrative and managerial staff). Where Form Sales Profit Is Used mandatory reporting In the mandatory reporting forms, the indicator is reflected as follows:
The absence of a separate line (indicator) of profit from sales in the balance sheet is due to the fact that the task of the balance sheet is to group the liabilities and assets of the organization according to the principle of their urgency.
To determine the correctness of the amount of depreciation deductions to be withheld for buildings, the construction of which is carried out simultaneously by contract and economic methods, use the data of construction sites on the amounts of depreciation deductions provided for by the financing plan capital investments, which should be in the form rent, and on the amounts of depreciation that must be withheld when paying for construction and installation work performed by an economic method. Deductions from planned savings and other sources are made within the amounts provided for by the plan for financing capital investments.
Construction organizations with an annual volume of construction and installation works up to 5 million rubles. constitute only a plan of organizational and technical measures to increase labor productivity and reduce the cost of construction and installation work. These organizations are guided in their work by the main targets approved for them by the trust.
Production construction and installation associations are created with an annual volume of construction and installation work of at least 50 million rubles, performed under a general contract.
The department of technical supervision can be created at enterprises with an annual volume of construction and installation work carried out only by a contract method, not less than 500 thousand rubles, and with a volume of construction and installation work from 300 to 500 thousand rubles. - an independent bureau or a group within the department of the chief mechanic.
The structure of network construction and installation enterprises is established in direct proportion to the annual volume of construction and installation works.
The rate of working capital of contracting construction and installation organizations is set as a percentage of the annual volume of construction and installation work performed on its own, at estimated prices.
They are called so because the company collects on them all the costs that relate directly to the production process.
Finally, it is necessary to take into account the debit balance on account 97 “Deferred expenses”. These are the costs that the company spent on in the current month, but they will be deducted in the next time period.
The list of expenses may include:
For example, if the object is insured for a year, then the firm buys the insurance policy for the full price. But insurance will be debited monthly.
Since the insurance is valid for a year, then monthly you need to write off:
27,000 / 12 months = 2,250 rubles.
Typical wiring:
Accordingly, line 1210 of the balance sheet from deferred expenses will include an amount that has not been written off as of December 31, that is, 18,000 rubles.
The volume of production is measured in the number of manufactured products of each type.
Then the volume is calculated necessary work for the performance of each task: laying the foundation, heating system, water supply, all floors and building elements. The consumption rate of materials is indicated in project documentation. The calculated amount of work is multiplied by its cost.
The amount of expenses for the production of products in the BU is called the cost. It includes labor costs, material, logistics costs, interest on loans.
All costs are divided into fixed and variable.
The first do not depend on the efficiency of production. This is the sum of fixed costs such as rent, taxes, depreciation, etc.
e. Variable costs change in proportion to the change in the quantity of goods manufactured.
Most of the funds are spent on the purchase of materials and the payment of salaries.
Profit is one of the performance indicators. Therefore, when analyzing the work of the organization, it is necessary to correlate the level of profit received with the costs incurred. There are several types of income.
1. The income received from the sale is called revenue or sales volume.
2. Gross profit is the sales volume adjusted for the amount of production costs incurred:
3. Net profit is the gross profit net of all other expenses:
In April, the company sold goods worth 200 thousand rubles. The cost of production amounted to 90 thousand rubles. Overhead costs in the form of wages, rent, taxes amounted to another 30 thousand rubles. We believe:
It should be noted that the assessment of the company's activities in accordance with the gross output formula has several disadvantages.
The main drawback of the formula is that, in addition to the balances of work in progress, the value of the objects of labor consumed in the production process affects the value of gross output.
An unjustified excess of work in progress, a decrease in product quality and changes in its assortment create only the appearance of a successful company.
The indicator of gross output, in addition, does not create an interest among organizations to reduce the material consumption of products, therefore it is often excluded from the number of estimated indicators of a company's performance.
All indicators of production volume are determined in prices, which include, together with the newly created value, the transferred value of production assets (current and fixed). At the same time, the higher the indicator of material consumption of products, the higher its price, therefore, the greater the volume of production in value terms. In order to eliminate this shortcoming, the enterprises calculate the indicator of net production.
-: Dt 10 "Materials" Kt 50 "Cashier"
S: Remains of unfinished industrial production and semi-finished products of own manufacture in the balance sheet are reflected at cost:
-: normative
-: planned production
+: actual
-: planned full
S: Main purpose accounting production process is:
-: determination of production costs for the reporting month
-: determination of work in progress at the end of the month
-: determination of the planned production cost
+: determination of the actual production cost
S: The costs associated with the production of products, works, services are taken into account in the accounts:
+: 20″Main production"
-: 90″Sales"
-: 01″Fixed assets»
-: 44″ Selling costs"
S: The balance of account 20 "Main production" reflects:
-: expenses of the reporting period
+: costs in work in progress
-: actual production cost of finished products
-: full actual cost of finished products
S: The debit turnover on account 20 “Main production” reflects the value of:
-: expenses of the reporting period
+: costs in work in progress
-: actual production cost of finished products
S: Credit turnover on the account "Main production" reflects the value of:
-: expenses of the reporting period
-: costs in work in progress
+: actual production cost of finished products
-: full actual cost of finished products
S: Entry on the debit of account 20 “Main production” and credit of account 69 “Settlements for social insurance and provision" means
-: accrual of temporary disability benefits to workers
-: payment of temporary disability benefits to workers of the main production
+: inclusion in the cost of production of insurance premiums during off-budget funds from the amounts of accrued wages to workers of the main production
-: transfer to social insurance bodies of the amounts of insurance premiums due to them in off-budget funds
S: The identified shortage of work in progress is reflected in the entry:
+: Debit 94 “Shortages and losses from damage to material assets” Credit 20 “Main production”
-: Debit 10 "Materials" Credit 20 "Main production"
-: Debit 94 "Shortages and losses from damage to material assets" Credit 21 "Semi-finished products of own production"
-: Debit 91 "Other income and expenses" Credit 94 "Shortages and losses from damage to material assets"
S: Products that are not fully completed are included in:
-: defective products
+: work in progress
-: materials
-: semi-finished products of own production
S: Accounts are used to account for indirect costs:
-: 20 "Main production", 23 "Auxiliary production";
-: 96 "Reserve fund", 97 "Deferred expenses";
+: 26 “General expenses”, 25″ General production expenses”;
-: 20 "Main production", 21 "Semi-finished products of own production"
S: The allocation of overhead costs to the cost of production is reflected in the entry:
-: Debit 25 "General production expenses" Credit 26 "General expenses";
+: Debit 20 "Main production" Credit 25 "General production costs";
-: Debit 25 "General production costs" Credit 20 "Main production";
-: Debit 26 "General expenses" Credit 25 "General production expenses".
S: Accrual wages workers for the manufacture of products is reflected in the entry:
+: Debit 20 “Main production” Credit 70 “Settlements with personnel for wages”;
-: Debit 40 "Product output" Credit 70 "Settlements with personnel for wages";
-; Debit 70 “Settlements with personnel for wages” Credit 20 “Main production”
S: The write-off of actual general business expenses for the month is reflected in the entry:
+: Debit 20 "Main production" Credit 26 "General expenses"
-: Debit 40 "Product output" Credit 26 "General expenses"
-: Debit 26 "General expenses" Credit 20 "Main production"
-: Debit 43 "Finished products" Credit 25 "General production costs"
S: Choose the correct answer. Production costs include:
-: packaging costs for finished products
-: written off overdue accounts payable to the supplier
+: shortage of materials in the warehouse within the norms of natural loss
- financial aid expenses
S: Correspondence accounts Debit 43 "Finished products" Credit 20 "Main production" means:
- write-off of actual cost of sales
- shipping products to customers
+: delivery of finished products to the warehouse
- Return of products by customers
S: Choose the correct answer. General expenses include:
- loss from marriage
+: travel expenses of management personnel
-: travel expenses of forwarders of the supply department
-: commission to an intermediary in the sale of products
S: Income other than income from ordinary activities in accounting are considered:
+: other income;
-: operating income;
-: non-operating income;
- extraordinary income.
S: Correspondence of accounts Debit 23 "Auxiliary production" Credit 69 "Calculations for social insurance and security" means:
-: accrual of temporary disability benefits to employees
- payment of temporary disability benefits
+: accrual of insurance premiums to off-budget funds from the wages of auxiliary workers
-: transfer for the purpose of insurance premiums to off-budget funds
S: Correspondence of accounts Debit 20 "Main production" Credit 10 "Materials" means:
+: issue of materials to production
-: return of unused materials to the warehouse
- Delivery of finished products to the warehouse
-: posting to the warehouse of returnable waste
S: Account 90 "Sales":
-: collecting and distributing;
-: calculation;
+: matching;
- inventory.
S: The posting of finished products to the warehouse is reflected at the actual production cost by the entry:
+: Debit 43 “Finished products” Credit 20 “Main production”;
-: Debit 43 "Finished products" Credit 21 "Semi-finished products of own production";
-: Debit 20 "Main production" Credit 43 "Finished products";
-: Debit 21 "Semi-finished products of own production" Credit 43 "Finished products"
S: Expenses relating to products sold are debited to:
+: 90 "Sales"
-: 99 "Profit and loss"
-: 20 "Main production"
-: 10 "Materials".
S: Under the general transfer of ownership, a product is considered sold if:
-: an advance payment was received from the buyer, but the products were not shipped;
+: the products are shipped to the buyer and the documents for payment are presented to him;
-: funds are fully transferred, but the products are not shipped;
- funds are not transferred, but the products are shipped.
S: Record Debit 90 "Sales" Credit 68 "Settlements with the budget for taxes and fees" means:
+: accrual of VAT on sales;
-: receipt of VAT amounts from the buyer;
-: presentation of VAT for tax deduction;
-: transfer of VAT to the tax office.
S: Record Debit 62 “Settlements with buyers and customers” Credit 90 “Sales” under the general procedure for the transfer of ownership means:
- payment for products;
+: shipment of products;
-: conclusion of a contract for shipment;
- purchase of products.
S: Entry Debit 90 "Sales" Credit 43 "Finished Goods" means:
+: writing off the cost of shipped products
- payment for products
-: recognition of the buyer's debt for products;
-: recognition of the organization's debt to the buyer.
S: Which account determines the actual production cost of products released from production:
+: 20 "Main production";
-: 43 "Finished products";
-: 90 "Sales";
-: 41 "Goods".
S: Payments for the forthcoming shipment (sale) of products to customers have been received on the organization's settlement account. This operation reflected in the accounting entry:
-: Debit 51 "Settlement account" Credit 98 "Deferred income"
+: Debit 51 "Settlement account" Credit 62 "Settlements with buyers and customers"
-: Debit 51 "Settlement account" Credit 60 "Settlements with suppliers and contractors";
-: Debit 62 "Settlements with buyers and customers" Credit 51 "Settlement account".
S: Surpluses of finished products identified by the results of the inventory are reflected in the accounting
-: Debit 43 "Finished products" Credit 90 "Sales"
-: Debit 91 "Other income and expenses" Credit 43
+: Debit 43 “Finished products” Credit 91 “Other income and expenses”
-: Debit 73 "Settlements with personnel for other operations" Credit 43 "Finished products"
S: The financial result from sales is revealed:
+: on account 90 "Sales";
-: on account 99 "Profit and loss";
-: on account 84 "Retained earnings";
-: on account 91 "Other income and expenses".
S: The actual production cost of products sold is reflected in the accounting entries:
-: Debit 90 "Sales" - Credit 43 "Finished products"
-: Debit 43 "Finished products" - Credit 90 "Sales"
+: Debit 43 "Finished products" - Credit 20 "Main production"
S: The amount of VAT charged by sellers when selling finished products and payable to the budget is reflected in accounting entries:
-: Debit 43 "Finished products" - Credit 68
-: Debit 19 "Value added tax on acquired values" - Credit 68 "Settlements with the budget for taxes and fees"
+: Debit 90 "Sales" - Credit 68 "Settlements with the budget for taxes and fees"
S: Selling expenses include:
-: the cost of shipping materials from the seller to the buyer
+: sales manager salary
-: travel expenses of the freight forwarder who accompanied the materials on the way
-: loss of materials in transit within the norms of natural loss
S: Account 20 "Main production" is:
-: collecting and distributing;
+: costing;
-: matching;
-: inventory.
S: Entry Debit 90 "Sales" Credit 99 "Profit and Loss" means:
-: revealing the loss from the sale;
+: identification of profit from the sale;
- selling products.
S: Entry Debit 99 "Profit and Loss" Credit 90 "Sales" means:
-: write-off of sales expenses;
-: identification of profit from the sale;
+: revealing the loss from the sale;
- selling products.
S: When recognizing in accounting the proceeds from the sale of finished products, its value is debited from account 43 "Finished products" to the debit:
+: 90 "Sales";
-: 68 "Settlements with the budget for taxes and fees";
-: 91 "Other income and expenses";
-: 99 "gain and loss".
S: Proceeds from the sale of products (works, services): in accounting is reflected in the posting:
-: Debit 62 "Settlements with buyers and customers" Credit 43 "Finished products";
+: Debit 62 "Settlements with buyers and customers" Credit 90 "Sales";
-: Debit 90 "Sales" Credit 62 "Settlements with buyers and customers";
-: Debit 99 "Profit and Loss" Credit 90 "Sales".
S: The accrual of the amount of VAT on sales is reflected in the entry:
-: Debit 68 "Calculations with the budget for taxes and fees" Credit 90 "Sales"
-: Debit 19 "Value added tax on acquired values" Credit 90 "Sales"
+: Debit 90 "Sales" Credit 68 "Settlements with the budget for taxes and fees"
-: Debit 68 "Calculations with the budget for taxes and fees" Credit 19 "Value added tax on acquired values"
S: Profit received from the sale of products is recorded as:
+: Debit 90 "Sales" Credit 99 "Profit and Loss"
-: Debit 99 "Profit and Loss" Credit 90 "Sales"
S: Loss received from the sale of products is recorded as:
-: Debit 91 "Other income and expenses" Credit 99
-: Debit 99 "Profit and loss" Credit 84 "Retained earnings"
-: Debit 90 "Sales" Credit 99 "Profit and Loss"
+: Debit 99 “Profit and Loss” Credit 90 “Sales”
V1: Cash accounting
S: The amount of cash on hand is limited to:
-: the size of the cash register;
-: cash desk service life;
+: cash limit;
-: cashier's working hours
+: three days;
S: Cash limit can be exceeded:
-: in the days of inflation;
-: holidays;
-: weekend;
+: paydays.
S: The cash desk of the organization is intended:
+: only for storing, receiving and issuing cash and monetary documents;
-: only for storage, acceptance and issuance of funds and invoice requirements;
-: for storage, receipt and issuance of funds and especially valuable inventory;
-: for storage of seals and basic documents of the organization, as well as for the storage of funds.
S: Based on the amount of cash in the cash desk comes from the current account:
-: for the purchase of fixed assets;
-: purchases current assets;
-: settlements with legal entities;
+: wages.
S: The cash settlement limit per trade is:
+: 100,000 rubles.
-: 200 000 rub.
-: 60 000 rub.
-: no restrictions.
- bookkeeping accountant cash transactions;
+: cashier;
-: Chief Accountant;
-: Head of the organization.
S: The bill cannot perform the function:
+: cash payments;
-: securing transactions and loans
-: means of payment;
- payroll.
S: Payroll funds may be held at the cash desk for:
-: four days;
-: five days;
+: three days;
-: two days.
S: Cash flow information on hand is summarized:
-: in incoming cash orders;
-: account cash warrants;
-: journal-order No. 1 and statement No. 1;
+: cash book.
S: Which bill is characterized by the participation of three persons:
-: simple;
-: financial;
-: discount;
+: transferable.
S: The operation "cash received from the current account for the payment of wages" is reflected as follows accounting entry:
-: D.70 - K. 51;
-: D.70 - K. 50;
+: D. 50 - K. 51;
-: D. 51 - K. 70.
S: In the cash desk of the organization, in addition to cash, you can store:
-: incoming and outgoing cash orders;
-: cash book;
+: securities;
- All of the above.
S: A bill of exchange, if it does not contain a corresponding indication, must be repaid:
-: within six months;
+: upon presentation;
-: until the next working day;
-: within a month;
S: Securities held at the organization's cash desk include:
-: checkbooks;
+: bonds;
-: statements from the current account;
-: vouchers to health resorts.
S: The detected amount of shortage of cash on hand is reflected in the accounting entry:
-: D. 50 K. 91;
-: D. 50 K.75;
+: D. 94 K. 50;
-: D. 71 K.50.
S: To account for cash transactions, an account is used:
S: Account 50 "Cashier"
-: passive
+: active
-: active-passive
-: off-balance sheet
S: Responsible for the safety of cash at the box office:
- bookkeeping accountant
-: Chief Accountant
-: Head of the organization
S: An increase in cash on hand is shown:
-: on the debit of account 51
-: on the credit of account 51
-: on account credit 50
+: debit account 50
S: Decrease in cash on hand is shown:
-: on the debit of account 51
-: on the credit of account 51
-: debit account 50
+: on account credit 50
S: Receipt of an advance payment from the buyer is reflected:
S: The issuance of an advance from the cash desk to an accountable person is reflected:
S: The balance of account 50 shows:
- availability of cash in the bank
-: issuance of funds for the period from the cash desk
- monthly cash receipts
+: availability of funds in the cash desk of the organization
S: Primary documents for cash flow accounting at the cash desk:
-: incoming and outgoing cash orders, announcements for cash deposits to the bank
-: incoming and outgoing cash orders, cash deposit announcements to the bank, cash check stubs
+: incoming and outgoing cash orders
-: pay slips and payment orders
S: Acceptance of cash at the cash desk is based on primary documents:
-: consumables cash orders
-: incoming cash orders and payment documents
+: incoming cash orders
S: The issuance of funds from the cash desk is made on the basis of primary documents:
+: cash receipts
-: incoming cash orders and announcements for a cash deposit to the bank
-: incoming cash orders
+: incoming cash orders and payment documents
S: To account for transactions on settlement accounts in banks, it is used
S: The increase in funds in the current account is shown:
-: on account credit 50
-: debit account 50
-: on the credit of account 51
+: debit account 51
S: Transfer of funds from the current account leads to:
-: to increase cash in the servicing bank
+: to a decrease in funds in the current account
-: to increase the funds in the current account
- does not change the current account balance
S: Crediting to the current account of the payment from the buyer for
shipped products:
S: Transfer from the current account of the advance payment to the supplier for materials
reflected:
S: The balance of account 51 shows:
-: transfer of funds for the period from the current account
+: the presence of funds in the bank account
- Monthly cash flow
S: Payment order used to reflect:
- cash transactions
+: current account transactions
-: to account for settlements with the organization's personnel
-: for reporting
- Who draws up the payment order:
-: payment receiver
+: payer
-: payer's bank
-: payee's bank
S: A bank statement is drawn up:
-: payer organization
+: servicing bank
- tax office
-: recipient organization
S: On the bank statement bank account organization contains information:
-: about the balances at the beginning and end of the day of money on the current account
-: on the balances at the beginning and end of the month, on the receipt and disposal of funds for the month in the context of documents
-: on the receipt and disposal of funds for the month
+: on the balances at the beginning and end of the day, on the receipt and disposal of funds per day in the context of documents
S: Transfer of funds to the account for payment by bank cards:
S: The opening of a letter of credit is accounted for as follows:
S: Payment of cash to suppliers from a letter of credit is reflected
in the following way:
+: Dt 55 Ct 60
S: Transfer of wages to bank cards
employees:
V1: Accounting statements
S: Data reflectance meters financial statements:
+: Cost;
-: Weighted;
-: Natural;
-: Labor;
S: Unified data system on the property and financial position of the organization and on the results of its economic activity compiled on the basis of accounting data for established forms this is?
-: statistical reporting
-: consolidated reporting
-: annual reporting
+: financial statements
S: Information on individual indicators of the financial and economic activities of the organization, both in kind and in monetary terms, and which is the basis for statistical observation:
+: Statistical reporting;
-: Consolidated reporting;
-: Annual reporting;
-: Financial statements.
S: Reporting generated on the main indicators for short periods of time (shift, day, week, etc.):
-: Statistical reporting
-: Consolidated reporting
+: Prompt reporting
-: Financial statements
S: Organizations submit annual financial statements to founders and other users on time:
-: Within 45 days of completion fiscal year
+: Within 90 days after the end of the reporting year
S: Reporting form characterizing the property and financial position of the organization on reporting date:
+: balance sheet
-: Report about incomes and material losses
S: The composition of the annual accounting (financial) statements does not include:
-: Cash flow statement
-: Explanatory note
+: Calculations (declarations) for taxes
-: The final part of the audit report
S: Interim accounting (financial) statements do not include:
-: Report about incomes and material losses
+: Statement of changes in equity
-: Balance sheet
S: Negative values are reflected in the financial statements:
+: In parentheses
-: In square brackets
-: Reference
S: In the absence of an indicator in the reporting, the following is put:
+: Dash
-: The article is not printed
- At the discretion of the accountant
S: Accounting statements are signed by:
- Tax inspector
- Manager and auditor
-: Chief accountant and tax inspector
+: Manager and chief accountant
S: The structure of the sections of the balance sheet:
-: Three sections in the asset and three in the liability balance
+: Two sections in the asset and three in the liabilities of the balance sheet
-: Three sections in the asset and two in the liability balance
S: A balance sheet that has regulatory items is called:
-: Net balance
-: liquidation balance
-: Sanitized balance
+: Gross balance
S: Balance asset consists of sections:
-: Productive reserves
-: fixed assets
+: current assets
-: Capital
+: Non-current assets
S: Reporting form characterizing the financial results of the organization for the period:
-: Balance sheet
+: Profit and loss statement
-: Statement of changes in equity
-: Cash flow statement
What refers to work in progress is determined by regulatory documents:
TIP: pay attention to PBU 5/01 “Accounting for inventories” in order to clearly understand the difference between inventories and assets that are not related to them. Work in progress does not apply to inventories, despite the fact that when drawing up a balance sheet in current assets, the article “Inventory” also includes the amount of work in progress.
So what can be attributed to work in progress and what costs are understood by this term? About the costs that the company has incurred for the production of works, goods, products, services, but the full production cycle for which has not yet been completed, we can say that they relate to work in progress.
Such goods and products have not yet been released by the production unit, are not designed as finished products, have not passed all the necessary stages of acceptance and verification. Services and works, certificates of completion for which have not yet been signed by the customer, are referred to work in progress.
The amount of assets that relate to work in progress, for large enterprises with a large number of manufactured products can be formed in accounting in three ways (clause 64 of order No. 34n):
For other types of production, the cost of WIP is taken into account at actual costs.
Work in progress assets have the following characteristics.
Work in progress is formed not only on the 20th account. Auxiliary shops and service industries and farms can also form the value of assets, which relate to work in progress. Therefore, one of the characteristics of WIP is the place of value formation:
More information about the formation of costs for work in progress can be found in the article "Costs in work in progress - accounting".
Form 1 "BALANCE SHEETS"
Line 214 "Finished products and goods for resale"
Line 214 reflects:
[Debit balance on account 41 "Goods"]
[Debit balance on account 43 "Finished products"]
[ Credit balance on account 42 "Trade margin" ]
[Credit balance on account 14 "Provisions for depreciation of material assets",
in terms of finished products and goods]
[Debit balance on account 15 "Procurement and acquisition of material assets",
[Balance on account 16 "Deviation in the value of material assets",
in the part relating to the value of the purchased goods]
Finished products are part of the material production stocks intended for sale (the end result of the production cycle, assets completed by processing (picking), technical and quality characteristics which comply with the terms of the contract or the requirements of other documents, in cases established by law).
Goods are part of inventories purchased or received from other legal or individuals and intended for sale.
The actual cost of inventories during their manufacture by the organization itself is determined based on the actual costs associated with the production of these inventories. Accounting and formation of costs for the production of inventories is carried out by the organization in the manner established for determining the cost of the relevant types of products.
Organizations engaged in trading activities on account 41 "Goods" also take into account purchased packaging and containers of their own production (except for inventory, serving for production or economic needs and accounted for on account 01 "Fixed assets" or 10 "Materials").
Service providers Catering, reflect in this line the remains of raw materials in the kitchens and pantries, the remains of goods in buffets.
The rest of the goods are reflected in the balance sheet at the cost of their acquisition, formed in accordance with accounting policy.
Accounting for finished products is regulated by PBU 5/01 “Accounting for inventories”, approved by Order of the Ministry of Finance of Russia dated June 09, 2001 No. 44n, registered with the Ministry of Justice of Russia on July 19, 2001 No. 2806.
The procedure for organizing accounting for finished products on the basis of RAS 5/01 is determined in guidelines, approved by the Order of the Ministry of Finance of the Russian Federation dated December 28, 2001 No. 119n, excerpts from which are given in this section.
Finished products are products and semi-finished products that are the product of the organization's production process with fully completed processing (complete set) that meet current standards or approved specifications taken to the warehouse of the organization or the customer.
The purpose of accounting for finished products is the timely and complete reflection on the accounting accounts of information on the release and shipment of finished products in the organization.
The main tasks of accounting for finished products are:
Released finished products must be transferred to the warehouse to a materially responsible person. Large-sized products that cannot be delivered to the warehouse for technical reasons are accepted by the customer's representative at the place of manufacture (release).
The release of finished products from production is documented by waybills, acceptance certificates, specifications and other primary accounting documents. For products received at the warehouse, a warehouse accounting card is entered, similar to accounting for materials.
Planning and accounting of finished products are carried out in physical and cost terms. If with natural indicators no questions arise, then several methods are used to determine cost indicators (evaluation of finished products). Consider the main methods for evaluating manufactured finished products:
When forming accounting prices for each item, it is desirable to take into account the rule of the correct ratio of production costs, i.e. two stock items with the same actual cost must have the same book value. This is necessary for the correct distribution of deviations (deviations are distributed in proportion to the book value) for each nomenclature item of manufactured products.
Thus, if accounting prices and deviations from the actual cost are reflected for each stock item, the use of sales prices as accounting prices is not entirely correct, because the ratio of selling prices does not always correspond to the ratio of the cost of production (products may have the same selling price and different costs).
The actual cost of finished goods depends on the cost accounting and costing methods used by the organization.
To account for the availability and movement of finished goods of a material nature on manufacturing enterprises an active accounting account 43 “Finished products” is used. Regardless of the valuation methods, the release (receipt to the warehouse) of finished products manufactured for sale is reflected in the debit of account 43.
This section considers the accounting of finished products of a material nature. The output of such products can be divided according to the purposes of their use as follows:
Accounting schemes depend on the purpose of using the finished product and on the assessment methodology used at the enterprise.
If an enterprise manufactures a small range of products for its own needs, it is advisable to keep accounting records at an incomplete (reduced) production cost and reflect the release (manufacturing) of products in the debit of account 10 “Materials” from the credit of cost accounting accounts 23 “Auxiliary production”, 29 “Service production and economy".
If an enterprise carries out industrial production of a large range of products for the purpose of its further sale, an active accounting account 43 “Finished products” is used to account for the availability and movement of finished products. In this case, it is advisable to keep accounting records at accounting prices (planned cost, contract prices). This is due to the fact that at the time of release and sale of finished products, the actual production cost is still unknown and its calculation, as a rule, takes place in the month following the release (sale).
Determining the actual cost material resources written off for production, it is allowed to use one of the following methods for estimating reserves:
at the cost of a unit of inventory;
at an average cost;
at cost of first-in-time acquisitions (FIFO);
(see text in previous)
59. Finished products are reflected in the balance sheet at the actual or standard (planned) production cost, including costs associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources, and other production costs or direct cost items.
60. Goods in organizations engaged in trading activities are reflected in the balance sheet at the cost of their acquisition.
When selling (dispensing) goods, their value may be written off using the valuation methods set out in paragraph 58 of this Regulation.
When an organization engaged in retail trade takes into account goods at sale prices, the difference between the purchase price and the cost at sale prices (discounts, capes) is reflected in the financial statements as a value that corrects the cost of goods.
(see text in previous)
61. Goods shipped, works delivered and services rendered, for which no revenue is recognized, are reflected in the balance sheet at the actual (or standard (planned)) full cost, which includes, along with the production cost, the costs associated with the sale (marketing) of products, works, services reimbursed by the agreed (contract) price.
(As amended by the Order of the Ministry of Finance of Russia dated December 24, 2010 N 186n)
(see text in previous)
62. The values provided for in paragraphs 58 - 60 of this Regulation, for which the price has decreased during the reporting year or which have become obsolete or partially lost their original quality, are reflected in the balance sheet at the end of the reporting year at the price of a possible sale, if it is lower than the initial cost of procurement (acquisition), with the allocation of the difference in prices to the financial results of commercial organization or an increase in expenses for a non-profit organization.
a. - in the balance sheet asset as part of non-current assets
b. - in the balance sheet asset as part of current assets
c. - in the liabilities side of the balance as part of capital and reserves
d. - in the balance sheet liabilities as part of long-term liabilities
e. - in the balance sheet liabilities as part of short-term liabilities
105) The moment of sale of products is:
a. - transfer of products from the seller to the buyer
b. - transfer of ownership of the product from the seller to the buyer
c. - receipt of money for products by the seller from the buyer
d. - shipment of products by the seller to the address of the buyer
Transfer of ownership from seller to buyer
produced:
a. - at the time of shipment, unless otherwise provided by law
b. - only after payment of funds
c. - at the time of shipment, unless otherwise provided by law or contract
Depending on the accepted accounting policy of the seller
e. - only at the time of shipment
107) General order transfer of ownership:
c. - determined by the accounting policy of the organization
d. - fixed in the contract between the seller and the buyer
Accounts receivable of buyers and customers from the organization
Occurs at the moment
d. - at the time of offsetting the advance payment upon shipment of products
Accounts payable to buyers and customers of the organization
Occurs at the moment
a. - shipment of products to the buyer
b. - receiving an advance from the buyer
c. - receipt of payment for shipped products
d. - offsetting the buyer's advance upon shipment of products
e. - advance payment refund
110) Write-off of the actual cost of shipped products to buyers is reflected:
111) Revenue from the sale of products to customers is reflected:
a. - D 43 "Finished products" K 90 "Sales"
b. - D 90 "Sales" K 62 "Settlements with buyers and customers"
c. - D 62 "Settlements with buyers and customers" K 90 "Sales"
d. - D 43 "Finished products" K 90 "Sales"
e. - D 62 "Settlements with buyers and customers" K 43 "Finished products"
f. - D 90 "Sales" K 43 "Finished products"
Profit from the sale of finished products is recognized
a. - D 90 "Sales" K 99 "Profit and loss"
b. - D 99 "Profit and Loss" K 90 "Sales"
c. - D 43 "Finished products" K 99 "Profit and loss"
d. - D 99 "Profits and losses" K 43 "Finished products"
45 accounting account - this is a register designed to summarize information on the movement of those products or goods that have already been shipped, but are not yet considered sold. Where can you see the entire volume of products created during the period? How the total volume of created products is interconnected with account 45 and how data is generated for line 1210 of the balance - about this in our article.
The value of the balance of finished products, listed on the reporting date in the warehouse, in the balance sheet is included in the amount reflected in line 1210 "Stocks". That is, finished products are an integral part of stocks, the total value of which consists of (clause 20 PBU 4/99, approved by order of the Ministry of Finance of the Russian Federation of 07/06/1999 No. 43n):
The write-off of the cost of manufactured products when they are shipped during the month of manufacture is reflected in the posting Dt 90 Kt 43 at book value. At the end of the month, the cost of shipped products is adjusted by postings Dt 90 Kt 40 or Dt 90 Kt 43, depending on the selected variance account.
When taking into account deviations on account 40 for products that remained unshipped, at the end of the month, you will have to make a posting Dt 43 Kt 40 for the amount of deviations associated with this product so that its actual cost is shown in the balance on account 43.
For shipments of finished products or goods with a special transfer of ownership (shipment takes place, and recognition of the sale occurs later), interim account 45 “Goods shipped” is used, i.e., in the correspondence of postings reflecting such a shipment, account 45 is used instead of account 90: Dt 45 Kt 41 (43). The recognition of the sale will subsequently be reflected in the posting Dt 90 Kt 45.
What goods are taken into account on account 45? These are, for example, goods transferred for commission. Also, account 45 “Goods shipped” is used in case of export of products. The use of account 45 for export is due to the fact that the seller retains ownership for some time until the completion of all customs procedures.
Finished products remaining on the reporting date in the warehouse will be included in the balance sheet in the line reflecting the amount of stocks, and will become it integral part. The cost of finished products is formed by 2 rules: acceptance for accounting at the actual costs of its creation and disposal in the assessment chosen by the taxpayer (by unit cost, average or first purchases). Accounting for the movement of products during the month of production, when the actual cost has not yet been formed, is carried out at book value, which is then adjusted for the amount of deviations.
Main production in the balance sheet should be recorded in line 1210 after the enterprise accumulates debit balances of the 20th account at the end of the reporting period. The article will discuss the intricacies of the procedure for reflecting information in this report.
The balance sheet is the main accounting tool for organizations. Using this form, the state of finance and the economy of the enterprise is reflected at the reporting date. The balance sheet includes the balances that have formed on all accounting accounts by this time. These residues are collected in groups according to predetermined characteristics, and then entered in the lines of the report intended for this.
To reflect the data on the account intended for the main production, you should go to the asset balance. In this part of the form, in the section “Current assets” (2nd section), in the line of stocks, the data is recorded, but not separately, but as an integral part of all stocks formed on the reporting date. If desired or necessary, you can decipher the line "Reserves" already in the explanation to the balance sheet.
Account 20, called "Main production", in accounting in accordance with PBU is designed to collect data on production costs. If you decipher the positions that can be reflected on account 20, then the costs associated with the following actions are recorded here:
at cost, planned or included in the standard;
by the volume of material costs;
in terms of direct costs.
If products are produced not in batches, but in units, then for reflection in the balance sheet such enterprises are allowed to use only one item - to take into account refineries exclusively at actual cost.
So, the balances accumulated in account 20 by the end of the reporting period should be entered in the balance sheet line 1210 called "Inventories". When a certain balance is formed on the account “Main production” at the end of the reporting period, this indicates the balance of work in progress at the enterprise.
Account 20 should record direct production costs. In addition, at the end of each month, a certain share of expenses from accounts 23, 25, 26 should be charged to this account.
The accounting policy should be formed in such a way that this document provides for a criterion for distinguishing between direct and indirect costs, the principles for evaluating refineries, and methods for closing the account for indirect costs.
| Video (click to play).
Finished products in the balance sheet |
Sales volume- measured in the following indicators:
Analysis of profit from product sales is carried out in the FinEkAnalysis program in the Cash flow analysis block.
The main volume indicators are:
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Initially, data on finished products are formed on account 43 of accounting. At the same time, the cost of production is not indicated and is written off as expenses to account 90:
Products intended for further sale or which will be used for the needs of the enterprise are formed in the form of the following postings:
Debit 43 - Credit 40 (or 20-29)
If the products are used for the needs of the enterprise, then account 43 is not used, and the products are reflected on account 10. In this case, the indicator is not used to form the overall balance in line 1210 of the balance sheet, but is entered in the line “Raw materials, materials and other material values».
Account 45 is used when it comes to shipped products. In other words, if payment for the sold and shipped products has not yet been received, then the indicators are formed on account 45:
To determine the deviation between the actual and standard cost account 40 is used, which is closed monthly to account 90.
As a result, in order to form a general indicator, it is necessary to take into account the indicators on the accounts - 43, 40 and 45 of accounting.
The PBU, approved by order of the Ministry of Finance dated July 29, 1998 No. 34n, states that financial statements should include information that has actual and property confirmation. When forming a balance sheet or any other financial statements, the responsible person must be guided by the specified provisions for accounting. accounting or other standards.
Based on the existing rules, at the end of the calendar year, the company's financial statements should reflect data on the volume of production and material reserves from accounting for the value determined using special methods. The accounting rules state that the valuation of inventories at the end of the reporting period should be carried out according to the disposal method.
In the manufacture of products, their actual cost is determined taking into account the costs incurred. As a result, in line 1210 of the balance sheet, finished products can be reflected at actual or book cost. The choice of accounting methodology depends on the nuances of the company's work and should be subsequently reflected in accounting policy enterprises. Information on the volumes of finished products is reflected in the article "Inventory", section II "Current assets":
As we have already said, the line “Finished products and goods for resale” is to be filled out. The formation of the general indicator occurs by balancing all data at the end of the reporting year on accounts 43 "Finished products" and 41 "Goods". Before obtaining accurate data, the information indicated on accounts 45 and 40 is additionally taken into account.
If the product is outdated, has partially or completely lost its initial qualities, the cost of it has decreased, then the indicator will be reflected in the balance sheet minus reserves for reducing the price of products.
Consider the line used in the balance sheet to reflect the output when it comes to completing the production process and posting the finished product to the warehouse. Recall that accounting for the release of finished products can be kept both using account 40 “Output of products (works, services)”, and without using it, when the cost of finished products is reflected directly on account 43 “Finished products” (Order of the Ministry of Finance dated October 31, 2000 No. 94n). We talked about what accounting entries are made in this case in our separate consultation.
But regardless of how the release of finished products is reflected in accounting, finished products in stock in the balance sheet are indicated in line 1210 “Inventories” (Order of the Ministry of Finance dated 02.07.2010 No. 66n). If the value of finished products in the total inventory of the organization is significant, the organization must reflect information on the release of products expanded on a separate line in the balance sheet or indicate the relevant information in the notes to the balance sheet.
Of course, finished products in accounting are reflected in line 1210 only in part of the warehouse balances of products. And how sold finished products are reflected in the balance sheet?
Separately, for the proceeds from the sale of products in the balance sheet, a line is not provided. And this is not surprising. After all, the balance sheet reflects the assets and liabilities of the organization at the reporting date (clause 18 PBU 4/99). A sold product is no longer an asset. Information on financial results, which also includes information on revenue, is provided in the income statement (clause 21 PBU 4/99).
However, in individual cases for revenue from the sale of products in the balance sheet, a line can be defined. This applies to the case when the finished product sold was not paid for by the buyer. Recall that the proceeds from the sale of finished products are usually reflected in the following accounting entry (Order of the Ministry of Finance dated July 2, 2010 No. 66n):
Debit of account 62 "Settlements with buyers and customers" - Credit of account 90 "Sales", subaccount "Revenue"
Therefore, the unpaid debt of buyers, which is equal to the proceeds from the sale, will be reflected in line 1230 "Accounts receivable" of the balance sheet. But here it is important to take into account that the revenue in line 1230 will be taken into account together with VAT, while the profit and loss statement indicates the net revenue, i.e., reduced by the amount of VAT accrued from the revenue.
For profit from the sale of products in the balance sheet, line 1370 “Retained earnings (uncovered loss)” is applied. At the same time, in this line, the profit from the sale of products will be taken into account in total with the financial results from other operations as per ordinary activities and other, as well as with the profit (loss) of previous years.
Companies prepare financial statements annually. According to the data from the balance sheet and income statement, you can determine the effectiveness of the organization, as well as calculate the main planned indicators. Provided that the management and finance department understand the meaning of terms such as profit, revenue and sales in the balance sheet.
Each type of accounting report is accompanied by an explanatory note. It contains information:
Often explanatory note gives more information about the financial position than reports. According to the data from the balance sheet and f. No. 2, you can get information about the current state of affairs and the effectiveness of activities. Having false information is worse than not having it. Therefore, it is important that financial statements are properly prepared.
Unfortunately, even accountants make mistakes. The use of technical means makes it possible to avoid arithmetic errors, but not methodological ones. Also, reporting may be distorted due to the low skills of a specialist.
It is important to understand that the data in the balance sheet reflect the state of affairs at the reporting date. The very next day, these figures change. In the last weeks of the reporting period, the organization is trying to defer payments, but in the first days of the new year, the funds will be used to pay off the debt. Therefore, reporting is always done "with a margin." In the registries, you can always find costs that will reduce the rate of profitability. For example, writing off more inventories, non-current assets, or bad debts. After all, it is always easier to lose profit than to increase it.
According to accounting rules, all transactions must be recorded at cost. But assets and liabilities enter the balance sheet at different times. Therefore, the carrying costs of the acquisition do not reflect the true value of the assets. You should also take into account fluctuations in exchange rates if there are assets or liabilities denominated in foreign currency.
How to calculate the value can be seen from the lines of form 2 "Report on financial results". Profit from sales is indicated on line 2200, broken down for the current year and the previous one. The formula looks like this:
Sales profit (line 2200) = Gross profit (line 2100) - Selling expenses (line 2210) - Management expenses (line 2220).
Gross profit (line 2100) = Revenue (line 2110) – Cost of sale (line 2120).
Note! When determining revenue, VAT and excises are not taken into account, since these taxes are refundable.
To fill out form 2, information is taken from the accounting data of the enterprise for the reporting financial period. Usually this is a year, but if necessary, it is possible to analyze indicators in dynamics and for a different time period - a month, half a year, a quarter, 9 months. etc. What accounts will be needed? First of all, this is c. 90 and 91. To clarify the information, the data of the corresponding accounts are analyzed - 62, 68, 44, 26, 23, 20, etc.
To accurately determine the desired profit values, the main thing is to clearly understand which indicator needs to be calculated. To analyze the performance of the entire organization, a general calculation is performed, and to assess the success of individual departments or activities, the data is broken down according to the required criteria.
How is profit reflected in the balance sheet? More on this later.
The current forms of financial statements of enterprises were approved by the Ministry of Finance in order No. 66n dated 02.07.10. normative document form 1 (Balance sheet), form 2 (Financial results report) and others entered into force additional applications. It is impossible to say which line exactly - profit from sales in the balance sheet, since the specified breakdown is provided in form 2. It is here that the calculated values \u200b\u200bof gross, selling, net and other profits are indicated.
In the balance sheet, the indicator of retained earnings (or uncovered loss) is reflected in line 1370 of Section III of Liabilities. Therefore, form 2 shows what the financial result of the enterprise for a specific period, and from form 1 - what is the accumulated result of activities for a given date. On line 1370, the balance of the account is indicated. 84, that is, minus the costs incurred by the company at the expense of profits (for the creation of reserve capital, the issuance of dividends, etc.). Thus, in order to accurately understand how sales profit is generated, an accountant needs to analyze not only financial reports, but also accounting accounts - 90, 91, 99, cost accounts and others.
Financial and economic activity is reflected in the balance sheet of the enterprise. It is the main form of reporting.
The balance reflects:
According to its structure, it is divided into assets and liabilities. Financial result: profit or loss is reflected in the account retained earnings / uncovered loss. Thus, it is wrong to assume that the loss is reflected in the asset balance. Let's consider the concepts in more detail.
It is legally established that all organizations are required to publish the balance sheet in the public domain. Thus, each counterparty registered on the public services portal has the opportunity to get acquainted with financial condition enterprises. Including see the amount of losses in the balance sheet.
Attention!
The loss in the balance sheet should be covered by summing up such indicators as profit of previous years, undistributed, funds held on reserve fund and earmarked contributions. It is also possible through additional capital.
If, when adding such lines, the damage is not covered, therefore, there are not enough funding sources. Thus, the balance is unprofitable. With the positive dynamics of the enterprise, part of the profit goes to the reserve. It acts as a "safety cushion" for future expenses. Accounts: Dt84-Kt82.
So, the balance sheet profit is calculated. It is worth understanding what this indicator gives. It is used to analyze the financial and economic activities of the enterprise, ways of further development and factors that have a direct impact.
Tip: if at the end of the reporting period your balance sheet turned out to be unprofitable, review the policy of the enterprise.
Above were considered the lines of the balance sheet, which reflects the income / loss of the enterprise. The goal of each manager is to bring the balance to a positive result at the end of the reporting period.
Measures to exit the enterprise from a loss and receive additional profit:
The indicator "profit" for the enterprise is the most important factor of production in the conditions market economy. The goal of every business enterprise is to make a profit and increase it every year.
The main ways to increase profits:
Let's summarize. BP or loss helps to determine how effectively a strategy has been applied. economic strategy enterprises. The indicators that make up the profit allow us to assess what should be emphasized in the increase in the next reporting period. The main ways to increase profits is to reduce the cost of goods and increase production.
Revenue in the balance sheet - in which line can it be viewed? Most often, this question arises among accountants - beginners or those who are far from accounting. An experienced accountant will immediately say that there is simply no specific line in the balance sheet in which revenue is presented. And he will be right and wrong at the same time. Although there is no line with revenue in the balance sheet, revenue and balance are still interconnected. How exactly, we will tell in our article.
Almost every line of the first section of the balance sheet is associated with a revenue indicator. For example, if residual value fixed assets or intangible assets decreased sharply during the reporting period, it is possible that some of them were realized. In this case, we can talk about the possible appearance of the company's revenue from their sale. If the balance sheet contains information about profitable investments in material assets, one can expect to receive revenue from such an activity as renting out property.
In the 1st section there are lines that, it would seem, have no connection with revenue at all, for example, financial investments. But it is not so. If a company is profitable and interested in its development, it will try to multiply the money earned. Financial investment is one of those ways. Of course, it is also possible to acquire securities or make contributions to the authorized capital of other companies using borrowed funds. However, the main source of sustainable development companies is profit, a significant part of which forms revenue.
Information on current assets at the reporting date is contained in the 2nd section of the balance sheet. In this section, the relationship between revenue and current assets can be traced primarily in the line "Cash and cash equivalents" - it is the company's revenue that goes to the current account and cash desk.
A significant balance in this line at the reporting date allows us to judge the ways and skills of managers to work with the proceeds received. For example, a company operates so profitably that it does not have time to immediately start up large volumes of incoming revenue in a new turnover (acquire assets, invest profitably, etc.). A low cash balance can equally speak of the good work of financial managers, who are able to find the right use of the received proceeds in time, and of a possible shortage of cash in the company.
IMPORTANT! If a company receives cash receipts, there are situations where the following limits may be exceeded:
Such violations may be punished under Art. 15.1 of the Code of Administrative Offenses of the Russian Federation.
For more information about the rules that must be observed when working with cash proceeds, read the material "Cash discipline and responsibility for its violation".
In detail, the relationship between revenue and this balance sheet item can be traced by examining another accounting report - cash flow. But the information from the balance already makes you think.
There are several types of profit on the income statement.
There are the following indicators:
As you can see, the concept of balance sheet profit in the reporting (form 2) is missing. The fact is that the balance sheet profit of an enterprise is a value that is considered a cumulative total from the beginning of the year. But in annual reporting he is not. The reason is the postings that the accountant makes at the end of the year and which reset certain accounting accounts. Therefore, we can say that the balance sheet profit of the enterprise is reflected in the statements for the quarter, six months and 9 months.
Formula for calculating gross profit:
Gross profit (line 2100) = Revenue (line 2110) - Cost (line 2120)
Line 2110 is a line in form 2, which indicates the proceeds from the sale of products, goods, works, services. It is taken without value added tax and excise taxes.
Line 2120 shows the cost. That is, it includes expenses for ordinary activities.
To determine the profit or loss on sales, do the calculation using the formula:
Profit (loss) from sales (line 2200) = Gross profit (line 2100) - Selling expenses (line 2210) - Administrative expenses (line 2220)
The line in the balance sheet 2210 is the sum of the costs from the ordinary activities of the organization. That is, this element of the formula is associated with the sale of goods, works, services.
Line 2220 is all those costs that the company had and which are associated with the management of the organization.
The calculation for profit before tax is as follows:
Profit (loss) before tax (line 2300) = profit (loss) from sales (line 2200) + Income from participation in other organizations (line 2310) + Interest receivable (line 2320) - Interest payable (line 2330) + Other income (line 2340) - Other expenses (line 2350)
For this calculation, you must first fill out lines 2310-2350 in the balance sheet of income. Then we add income to the indicator 2200, which was calculated earlier. Then we take into account the costs and get a profit or loss. We look at the results in line 2300.
The formula for calculating the balance sheet profit is as follows:
Balance sheet profit = line 2110 - line 2120 - line 2210 - line 2220 + line 2310 + line 2320 - line 2330 + line 2340 - line 2350
In annual reporting, the balance sheet profit can be calculated as the sum of retained earnings from line 1370 and income taxes that the company must pay for the year.
BP \u003d Dod + PD-Rod-PR
The main elements of the calculation:
If, as a result of the calculations, we received a positive value, then the company made a profit for the period under review. A negative value indicates a loss.
If we subtract income tax (NP) from the result, we get net profit (NP):
Income includes:
However, the income is removed:
The expenses include:
Expenses do not include:
Companies prepare financial statements annually. According to the data from the balance sheet and income statement, you can determine the effectiveness of the organization, as well as calculate the main planned indicators. Provided that the management and finance department understand the meaning of terms such as profit, revenue and sales in the balance sheet.
Products in the balance sheet is the amount of revenue received for the sale of goods in the reporting period. In this case, the form of calculations does not matter. Products can be sold on credit, for cash, with a deferred payment or at a discount. Therefore, for a more accurate calculation, the formula for calculating the net sales volume in the balance sheet is used, when the received revenue is adjusted for the amount of goods shipped on credit.
Sales volume reflects the amount of funds received by the company. Therefore, it should be calculated by all organizations. The indicator can be expressed in the quantity of goods sold, the amount of funds received, the monetary value of goods sold, etc.
First of all, you need to determine the revenue:
Revenue \u003d Volume of production: output x Price.
An enterprise that is a monopolist in the market does not change the price of a product. That is, the volume of sales depends only on the number of manufactured products. To determine how efficiently the company operates, it is necessary to subtract the total expenses from the amount of revenue received. Costs increase as output increases. This nuance should be taken into account when planning production.
Work is an action aimed at development. The volume of production is measured in the number of manufactured products of each type. And how to calculate this indicator, for example, in construction? It is necessary to first familiarize yourself with the design materials, divide them into underground and surface works. Then, the amount of work required to complete each task is calculated: laying the foundation, heating system, water supply, all floors and building elements. The consumption rate of materials is indicated in the project documentation. The calculated amount of work is multiplied by its cost.
The amount of expenses for the production of products in the BU is called the cost. It includes labor costs, material, interest on loans. All costs are divided into fixed and variable. The first do not depend on the efficiency of production. This is the sum of fixed costs, such as rent, taxes, depreciation, etc. Variable costs change in proportion to the change in the quantity of manufactured products. Most of the funds are spent on the purchase of materials and the payment of salaries.
Profit is one of the performance indicators. Therefore, when analyzing the work of the organization, it is necessary to correlate the level of profit received with the costs incurred. There are several types of income.
1. The income received from the sale is called revenue or sales volume.
2. Gross profit is the volume of sales adjusted for the amount of production costs incurred:
3. Net profit is gross profit, cleared of all other expenses:
In April, the company sold goods worth 200 thousand rubles. The cost of production amounted to 90 thousand rubles. Overhead costs in the form of wages, rent, taxes amounted to another 30 thousand rubles. We believe:
To determine the target sales volume, use the following formula:
As mentioned earlier, in order to determine the efficiency of the enterprise, it is more expedient to calculate net sales in the balance sheet. How to count? It is necessary to adjust the BP for the amount of returned goods, as well as those that were sold at a discount, provided by the consumer. The formula looks like this:
According to the results of the month of work, the company received 1.32 million rubles. arrived. Products are sold at a price of 250 rubles. a piece. Variable costs per unit are 98 rubles, and fixed costs for the entire volume of production - 0.38 million rubles. Determine the volume of sales in the balance sheet.
1. First you need to find the contribution margin:
MP \u003d Price - Variable costs \u003d 250 - 98 \u003d 152 rubles.
2. Calculate the sales volume:
OP \u003d (Fixed costs + Profit before interest) : Marginal profit \u003d (380,000 + 1,320,000) : 152 \u003d 11,250 pcs.
Having the accounting data, it is possible to calculate all the main financial indicators. You can, for example, determine the volume of sales. There is no balance formula as such. Since these data are reflected in the "Profit and Loss Statement". Line 2110 indicates the amount of products sold in monetary terms after deducting VAT. All expenses for the manufacture and delivery of products are also reflected here: line 2120 + line 2210 + line 2220. The organization may have other unforeseen expenses (line 2350) and income (line 2340).
Line 2400 = 2110 - (2120 + 2210 + 2220) + 2340 - 2350 - 2410, where 2410 is the amount of income tax.
Net sales on the balance sheet can be calculated by subtracting retained earnings ( uncovered loss) at the end of the period from the value at the beginning of the period. A positive difference indicates a net profit, and a negative difference indicates a loss.
The efficiency of the enterprise in the reporting period is calculated by the ratio of various indicators of profitability and costs. There are several indicators of profitability. Let's consider the main ones.
It is determined by the ratio of profit to revenue. If the numerator of the fraction uses gross profit, then this indicator is called the gross margin of sales. =:
Operating return on sales is calculated as follows:
Return on sales by balance sheet:
Most often, to determine the effectiveness of sales, the net profit indicator is calculated:
These formulas determine the proportion different types profit in revenue. After analyzing the value of the coefficient in dynamics, it is possible to determine what changes have occurred in the activities of the organization.
Each type of accounting report is accompanied by an explanatory note. It contains information:
Often, an explanatory note gives more information about the financial situation than reports. According to the data from the balance sheet and f. No. 2, you can get information about the current state of affairs and the effectiveness of activities. Having false information is worse than not having it. Therefore, it is important that financial statements are properly prepared.
Unfortunately, even accountants make mistakes. The use of technical means makes it possible to avoid arithmetic errors, but not methodological ones. Also, reporting may be distorted due to the low skills of a specialist.
It is important to understand that the data in the balance sheet reflect the state of affairs at the reporting date. The very next day, these figures change. In the last weeks of the reporting period, the organization is trying to defer payments, but in the first days of the new year, the funds will be used to pay off the debt. Therefore, reporting is always done "with a margin." In the registries, you can always find costs that will reduce the rate of profitability. For example, writing off more inventories, non-current assets, or bad debts. After all, it is always easier to lose profit than to increase it.
According to accounting rules, all transactions must be recorded at cost. But assets and liabilities enter the balance sheet at different times. Therefore, the carrying costs of the acquisition do not reflect the true value of the assets. Currency fluctuations should also be taken into account if there are assets or liabilities denominated in foreign currencies.
Data is used to calculate sales volume. financial reporting. However, you should not rely entirely on the balance and Form No. 2. They contain only part of the important information. Usually, the indicators of profitability and the real value of assets in the reporting are underestimated.
