Financial reporting in Russia, like the economy as a whole, has gone through a difficult path of formation; it was formed in the difficult conditions of first the Soviet planned system, and then the revolutionary leap of perestroika. Many controversial issues have still not been resolved, some require improvement, and some standards are already outdated. Now the state is taking measures to reform the domestic one, bringing it in line with international requirements, and improving legal regulation. To provide annual reporting, business representatives draw up a balance sheet and financial performance report, along with explanations thereto.
Statement of financial results (OFR) or Form No. 2 is the second of the two main forms that make up. It shows the change in equity capital as a result of economic activity, characterizes the income and expenses that affected the profit margin.
Filling out, deadlines and submission procedure are regulated by Law No. 402-FZ “On Accounting”, Order of the Ministry of Finance of the Russian Federation No. 66n “On Forms of Accounting Reports”, PBUs adopted by the Ministry of Finance and the Central Bank.
Until 2012, the wording “ ” appeared, but already in 2013 it became correct to indicate “Statement of financial results”; now this name remains in business practice. The changes affected only the name, the content remained the same. It must be filled out by all organizations, individual entrepreneurs and lawyers, and state enterprises.
Formation rules
The FRF is an official document that must be submitted to state tax and statistical authorities, so its completion must be taken very seriously, because the manager is directly responsible for the veracity of the data. If the tax service finds errors or violations, it will require additional explanations, and if the distortion of data is significant, it has the right to apply penalties. The financial results report can be generated at the end of the calendar year for government agencies, or quarterly for the internal needs of the enterprise.
Therefore, you need to adhere to the following rules for its formation.
Income and expenses must be separated:
- on and expenses received when the company organizes ordinary activities. These are the operations for which the business was initially organized; they are spelled out in the company’s Charter and enshrined in OKVED. This may include activities that are not specified in the documents, but are of a permanent nature and have a significant quantitative expression.
- other – include, as the name implies, all articles not included in the previous paragraph
Form No. 2 is drawn up for the reporting period – a year. Moreover, it contains data for the previous year, calculated using the same methods. They are transferred from the previous Report, and the value for the last day of the last and current year is taken, which is done to compare the dynamics of indicators.
The report is signed by the manager and the date is written on it. A stamp is affixed to the form only if it is available, but if the organization has abandoned the seal in its activities, and this is enshrined in the Charter, then its stamp is not needed in Form No. 2.
To fill out the financial statements, you will need balance sheets and data on the statistical codes assigned to the organization.
Some business representatives may use simplified forms to reflect financial indicators.
Requirements for filling
Indicators and their interpretation
So, let's start filling out the form step by step.
The ODF itself is presented in the form of a table of 5 columns:
- Explanation number
- Indicator name
- Code assigned to this indicator
- Value in the reporting period
- Value last year
If during the period no operations were carried out in the organization, then the lines for them in the Report are not filled in, not 0, but a dash is written.
Income and expenses from ordinary activities
These are the company’s revenues and expenses, as well as preliminary financial results, which are generated as a result of activities registered as the main one in OKVED. These articles include:
- – receipts from activities recognized by the company as ordinary, i.e. the main payment received by the company for goods produced. It is definitely worth considering that VAT and excise taxes previously paid by the company on some types of goods are subtracted from the amount of revenue.
- Cost of sales is the value expression of the resources used in production. We will not consider in detail the names and numbers of the accounts through which these amounts are processed, since they are very clearly spelled out in the Chart of Accounts. Don't forget that the value must be indicated in parentheses.
- (loss) is a calculated value, the amount of deviation between the first two points. If not everything went smoothly in the organization’s activities and the loss is calculated at this stage, then the amount is enclosed in parentheses.
- Commercial expenses - include costs for: packaging of products, transportation, commission to intermediaries, rental of premises during sales, promotion of goods, entertainment expenses, fees for the work of insurance companies, losses during storage according to the norms of natural loss, etc.
- Administrative expenses - you don’t need to rack your brains to understand that these are administration expenses. The organization has the opportunity to choose one of two accounting options, but it is necessary to register it in the Accounting Policy: completely as part of the UR - this line of the Report is filled in; are included in the cost of production, then this line is not filled in, and accordingly, the second point of the general financial structure increases.
- Profit (loss) from sales is an estimated value obtained by subtracting the previously indicated general and administrative expenses from gross profit. To confirm the correctness of the calculation of the indicator, compare it with the balance of the corresponding sub-account, allocated specifically for this coefficient on account 99; ideally, they should coincide.
Other income and expenses
These are the company's income and expenses as a result of activities that are not related to the main activity, they include:
- Income from participation in other organizations implies the company’s earnings on securities, funds received from shares, and property of third-party companies.
- to receive do not leave any room for misinterpretation; in this regard, we will not dwell on them in detail.
- Interest payable – similar to the previous indicator, does not require detailed explanation.
- Other income includes other income not previously stated. Income consists of: rent, leasing, from the provision of licenses, patents, from the sale of fixed assets, from management companies of third-party companies, earnings on the securities market, if counterparties do not comply with contractual terms - penalties, donations, exchange rate differences, interest on bank deposits, profit of previous years, expired credit debt, revaluation of investments.
- Other expenses mean expenses of the company not previously indicated in Form No. 2. Typically they include expenses from: rent, leasing, use of patents, licenses, sale of assets, depreciation of intangible assets, markdown of financial investments, charity, organization of events, holidays for the purpose of generating income, creating a reserve and others.
Financial results
Total items obtained by taking into account all the company's income and expenses.
Profit (loss) before tax - the name very well characterizes the essence of the indicator; it is this article that will be the basis for determining the amount of tax.
Current – the amount of planned tax deductions to the state. Differences in the fundamentals of accounting and the tax system have led to the emergence of different approaches to calculating this parameter. The final result, after its adjustment taking into account these contradictions, is declared by the organization. The company is required to highlight in its regulatory forms one of the selected accounting methods:
- The tax is calculated arithmetically according to data taken from the balance sheet. The profit received by the company at the time of shipment of the goods is multiplied by the tax percentage - this is a conditional expense or income for this type of tax, which serves as the basis for calculating tax liabilities (assets) - IT (IT). There are two types of them: constants - are registered as part of the indicator under consideration in the case when the amounts will be taken into account only for accounting purposes; deferred differences are allocated separately in the financial financial statements due to the temporary nature of their occurrence; an explanation for them is given below.
- IT appears in accounting for internal use, they are constantly monitored, but their amount is not allocated separately.
Other – includes amounts that do not fit the parameters of other indicators. These could be fines or penalties issued by the Federal Tax Service for unfulfilled tax requirements.
Net profit (loss) is one of the most important indicators of financial profitability, which is the overall result of the activities of an organization or entrepreneur. This is the amount remaining at the disposal of the company after taxes and other payments have been paid, which is what the business was organized for. Net profit forms retained earnings for the entire period of activity.
Tax assets and liabilities
They include two articles that are formed as a result of different approaches to accounting and reporting submitted to the Federal Tax Service:
- Changes in deferred tax liabilities are prescribed in the OFR by organizations that do not use UTII. Usually it is formed, for example, when when calculating depreciation in accounting, one amount is obtained, and in tax accounting - another. Another possible occurrence is that the company takes into account revenue at the time of shipment of goods to the buyer before actual payment. The value of this indicator in the OFR is the amount already taken into account in the current period, when the planned date of its receipt is moved to the next year. Enterprises independently choose one of two options: deferred liabilities are allocated as part of the tax, the amount of which is taken from accounting analytics; IT is not highlighted in a separate article.
- A change in deferred tax assets is a standard in its economic meaning opposite to IT, that part of the calculated tax that is planned to be paid in the future. This line is calculated as the product of such expenses by the tax rate, taken into account on the balance of account 09. Reasons for the dynamics of IT: differences in the calculation of depreciation, overpayment of the tax amount to the Federal Tax Service when it is not returned to the company, when selling property, arising due to differences in determining the date of disposal .
Articles listed for reference
The result of the revaluation of non-current assets is formed by clarifying the value of the tangible and non-physical assets of the enterprise, taking into account the current market price for similar property. At the same time, one of two options for their accounting is fixed in the Accounting Policy:
- inclusion in other expenses or income - then this line is not filled in, but the corresponding line of the OFR is changed
- inclusion in additional capital - the amount of fluctuation in accrued retained earnings is recorded
The result of other transactions is relatively rare in Russian practice, and may include exchange rate differences from the revaluation of the company’s property located abroad. A broader definition of this indicator is given in IFRS in the wording “Other comprehensive income”. In accounting, it is accounted for in a separate subaccount to account 83. To include amounts in this line, the following conditions must be met:
- asset value is not expressed in rubles
- the difference changes the additional capital
The total financial result is a calculated value, defined as the sum of the three indicators preceding it in the financial financial statements.
The following two articles are required for those whose shares are bought and sold on the securities market or are planned to be placed. These indicators are established by IFRS and generally indicate the profitability of one ordinary share of the company. There are two types:
- Basic earnings per share is equal to the amount of dividends that the owner of one common share would receive if he sold it, or the share of net income per one common share outstanding. It is calculated as the ratio of the amount of net profit for the period to the number of ordinary, rather than preferred shares, on average for the month.
- Diluted earnings per share differ from the previous figure in that it is an estimated earnings given the worst-case stock market forecasts. This is the minimum amount of net profit that the owner of a common stock will receive if he decides to sell it. Here the condition must be met that the company will issue into circulation all the securities that it is obliged to issue. This process is called dilution or reduction of earnings per share. It is calculated similarly to the previous indicator, but additionally issued or planned to be issued shares are added to the denominator.
Simplified form
The simplified form of the FRA, according to the recommendations of the Ministry of Finance, can be used by organizations related to. For them, there are restrictions on the maximum amount of revenue, the number of officially registered employees and other parameters. These characteristics are defined in detail in Law No. 209-FZ of July 27, 2007. If desired, such companies and entrepreneurs can also fill out standard forms.
The simplified Report form contains, by analogy with the standard one, 5 columns; the rules for filling it out are the same. There are only 7 lines, these are the main performance indicators.
The amount paid under the simplified tax system and UTII is entered in the line Other expenses. For ease of use, an organization or individual entrepreneur independently determines whether the items included in it need to be deciphered or not.
So, the Financial Results Report is one of the main financial reporting documents, which combines all information about the economic life of an enterprise, helps owners and interested users determine the economic position of the organization, understand the level of stability of the business, and its attractiveness for financial investments.
Also, the FRA provides very important information about liquidity, helps to identify problem areas, points that the manager needs to pay attention to, and therefore allows you to formulate a strategy for overall development. That is why it is very important to fill it out correctly and accurately.
The calculations of all the indicators listed above are spelled out in detail in the accounting regulations, but it is natural that an accountant has difficult moments, especially since the skill of filling out comes with experience, so work and learn new things, do not stop and strive to learn something useful every time. We hope that our article helped you with this.
Write your question in the form below
Annual financial statements for 2018 consists of Balance Sheet And Forms 2, as well as applications to them. More details are provided in Part 1 of Art. 14 Federal Law of December 6, 2011 No. 402-FZ. The old name for Form 2 is Gains and losses report . Now this form is called differently - Income statement.
The balance sheet and Form 2 are submitted on standard or simplified forms. Both of them were approved by order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n. contains the following data:
- revenue;
- cost of sales;
- Gross profit (loss);
- commercial and administrative expenses;
- profit (loss) from sales;
- interest receivable and payable;
- other income and expenses;
- profit (loss) before tax;
- changes in deferred tax assets and liabilities;
- Net income (loss);
- reference Information.
Financial results report 2018 standard form
simplified form
(Sample form 2019)
Financial results report 2018 (simplified form)
How to fill out the 2018 Financial Results Report
When preparing the Financial Results Report (Form 2 of the financial statements for 2018) in 2019, see the recommendations of the Russian Ministry of Finance for conducting an audit for the reporting period.
All income in the report should be shown minus VAT and excise taxes (clause 3 of PBU 9/99). Indicate all expenses, as well as negative indicators, in parentheses, without the minus sign.
Compile Form 2 with a cumulative total from the beginning of the year. All indicators for the reporting period are presented in comparison with the same period last year. The report for 2018 will contain the following information:
- account turnover from January 1 to December 31, 2018 inclusive, should be reflected in column 3 (data for the reporting period);
- The indicators in column 3 of the financial results report for 2018 are given in column 4 (data for the same period of the previous year).
In the “Explanations” column, indicate the number of the corresponding explanation to the balance sheet (Form No. 1) and the financial results statement.
Line numbering
In the standard form of the 2018 Financial Results Report, the lines are not numbered. The codes for the lines can be found in Appendix 4 to the order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n. You only need to number the lines if you submit reports to the statistics department and the tax office. However, there are specific features for certain categories of organizations. For example, small businesses reflect aggregated indicators on their balance sheets, which include several indicators. In this case, enter the line code according to the indicator that is larger in value than others included in this line.
Comparability of indicators
The indicators for the reporting period must be comparable with the indicators for the same period last year. That is, they must be formed according to the same rules. Incomparability of indicators may arise if significant errors from previous years were identified in the reporting period or the accounting policies of the organization have changed. In this case, in Form 2 of the balance sheet for the current period, last year’s indicators will have to be adjusted based on the current conditions. But reports for previous periods do not need to be corrected.
Model Form No. 2 (Income Statement for 2018) contains unnumbered lines. The codes for the lines can be found in Appendix 4 to the order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n. You need to number the lines only if you submit reports to the statistics department and the Federal Tax Service. However, there are specific features for certain categories of organizations. For example, small businesses reflect aggregated indicators in their balance sheets, which include several indicators. In this case, enter the line code according to the indicator that is larger in value than others included in this line.
Income and expenses from ordinary activities
By line 2110 — 2200 show income and expenses for normal activities. The initial data for filling out these lines is the turnover of account 90 “Sales”. In line 2110 reflect the revenue without VAT and excise taxes. Revenue is determined taking into account all discounts provided by the organization. If the buyer is given a discount for fulfilling certain terms of the contract, then the revenue is indicated minus the discount.
By line 2120 show expenses for ordinary activities that form the cost. In line 2100, reflect profit from ordinary activities. It can be determined if the cost of sales is subtracted from revenue (line 2110 - line 2120).
By line 2210 indicate the amount of expenses for ordinary activities that are associated with the sale of goods, works, and services. By line 2220 indicate the amount of expenses for ordinary activities that are associated with managing the organization.
For example, advertising costs are classified as business expenses (Instructions for the chart of accounts). Therefore, such expenses must be reflected in the report depending on the procedure for accounting for business expenses provided for in the organization’s accounting policy for accounting purposes. In accordance with the accounting policy, selling expenses can:
- be fully included in the costs of the current period. In this case, reflect advertising expenses on the line 2210 “Business expenses” report;
- distributed between the cost of individual types of products, goods (works, services). Then reflect the advertising costs on the line 2120 "Cost of sales."
By line 2200 reflect profit (loss) from sales. To do this, you need to subtract commercial and administrative expenses from the gross profit (line 2100 - line 2210 - line 2220 ). If you get a negative value, report it in parentheses ().
Other income and expenses in the income statement
Strings 2310 — 2350 where other income and expenses are reflected, fill in based on the turnover in account 91 “Other income and expenses”.
In line 2310 show the dividends received, as well as the value of the property that the organization received upon leaving the company or upon its liquidation.
Profit before tax
Based on data reflected by rows 2110 — 2350 , calculate the amount of profit (loss) before tax (line 2300 ). It can be determined if from the sum of the rows 2200, 2310, 2320 And 2340 subtract lines 2330 and 2350. If you receive a negative value (loss), then indicate it in parentheses ().
Form No. 2 of the financial statements (Income Statement for 2018) contains separate lines for income and expenses from ordinary activities. After deducting expenses, you can only show other income, the amount of which does not exceed the level of materiality applied by the organization.
An indicator is significant if without information about it it is impossible to correctly assess the financial position of the organization (PBU 4/99). The organization determines the materiality criterion independently and prescribes it in its accounting policies for accounting purposes.
Separately, in the Statement of Financial Results you need to show information about income that constitutes at least 5 percent from all income of the organization (PBU 9/99). Expenses associated with obtaining such income must also be reflected separately (PBU 10/99).
If any balance sheet information requires detailed decoding, it is entered in a separate form - explanations to the balance sheet and income statement. And in the report in the “Explanations” column they make a link to the corresponding table or number of explanations of this form.
Income tax
In lines 2410 — 2400 Forms No. 2 (2018 Financial Results Report) reflect income tax calculations for the reporting period. By line 2410 “Current income tax” indicate (in parentheses) the difference between the total turnover of debit and credit bills 68 subaccount “Calculations for current income tax” in correspondence with the accounts:
- 09 “Deferred tax assets”;
- 77 “Deferred tax liabilities”;
- 99 subaccount “Conditional income tax expense (income)”;
- 99 subaccount “Permanent tax liabilities (assets)”.
By line 2421 “Fixed tax liabilities (assets)” reflect the difference between the total turnover of debit and credit bills 99 subaccount “Permanent tax liabilities (assets)” in correspondence with score 68 subaccount “Calculations for current income tax”.
By line 2430 “Change in deferred tax liabilities” indicate the difference between the total turnover on credit and debit bills 77 in correspondence with score 68 subaccount “Calculations for current income tax”. If the credit turnover is greater than the debit turnover, then the difference is deducted from profit (loss) before tax. If the loan turnover is less than the debit turnover, then the difference is added to profit (loss) before tax.
By line 2450 “Change in deferred tax assets” reflect the difference between the total turnover of debit and credit bills 09 in correspondence with score 68 subaccount “Calculations for current income tax”. If the debit turnover is greater than the credit turnover, then the difference is added to profit (loss) before tax. If debit turnover is less than credit turnover, the difference is deducted from profit (loss) before tax.
By line 2410 “Current income tax” reflects the difference between the total turnover of debit and credit bills 68 subaccount “Calculations for current income tax” in correspondence with score 99 subaccount “Current income tax”.
The third category includes organizations that do not pay income tax according to the law, but must keep accounting records (clause 1 of PBU 18/02). These are, for example, payers of UTII or gambling tax. Such organizations when filling out the lines 2421, 2430, 2450 can deliver dashes .
Net profit
By line 2400 “Net profit (loss)” indicate the result calculated using the formula.
Accounting reporting falls on the shoulders of all business entities. Reporting documents must be submitted annually. The main accounting document is. As for the profit and loss statement, this is rather an additional document.
The Profit and Loss Report form (form according to OKUD 0710002) can be downloaded from.
You can download a sample of filling out form 2 at.
When preparing a profit and loss statement, you can safely consider the “title” of the balance sheet as a sample of the title part, since the information indicated in this part will be the same. Each line of the OKUD 0710002 form is filled in with total indicators.
The profit and loss statement form requires line-by-line completion, as in the balance sheet, but the order of completion is slightly different, which is best seen in several examples:
- 2110 - it is necessary to calculate the difference between the total revenue of a given enterprise received from the sale of goods or services and the amount of VAT paid. The data for this line is taken from sales account 90.
- 2120 shows the cost price after excluding all costs; data for this item is taken from the Debit of account 90.
- 2100 – this line is intended to determine gross profit and is found as the difference of the lines indicated above.
- 2210 - line is intended to show commercial costs, the values of which are taken from Debit 44. Cost amounts are also included here.
- 2220 – before filling out the income statement, this value is taken from Debit 44.
Sample of filling out a profit and loss report
First sheet
Second sheet
The essence of the income statement
The profit and loss statement of an enterprise contains the amounts of income of a given object, by which one can judge how efficiently the given object operates, how profitable it is, and also view the growth of profit for it. This document is compiled using the incremental method, which allows you to view the dynamics of growth or decrease in income from activities.
This document is sometimes also called a “financial profit statement” or “financial performance statement”; it plays a key role in forming an idea of the activities of a given entity and the benefit of its founders.
The profit and loss report is compiled on the basis of parameters for profits, losses, results of sales and non-sales processes, company costs for sales and production, other costs, as well as taxes, etc.
The profit and loss statement is submitted in Form 2 (OKUD 0710002), as required by law. Using this form, it is established how profitable a given enterprise is and the individual components of the entrepreneurial process.
The profit and loss statement must fully characterize the profit of a given enterprise. That is, how it was obtained, shares by type of activity, all costs of carrying out the business process, as well as net profit after paying these costs.
In order to correctly assess the development trend of a business entity, it is necessary to carry out a comprehensive analysis of the profit and loss statement. It is this procedure that helps determine how effective the business model of a given business entity is. This matters not only for those who manage the company, but also for investors and creditors.
A good video about the essence of the profit and loss statement:
The structure of the profit and loss statement is such that the most significant indicators are placed at the beginning of this document, depending on the degree of importance. After the main indicators, data is entered on those sources of income and expenses that are indirectly related to the main ones. Before drawing up a profit and loss statement, it is also worth calculating the amount of tax payments that a given company makes, since this will directly affect the amount of net profit, which will also be indicated in the profit and loss statement form.
So, this type of reporting is mandatory for business entities and can be submitted in a simplified form of reporting losses and profits. The importance of this document corresponds to the importance of the balance sheet. It helps to assess the profitability and profitability of the enterprise under study, therefore it is important not only for regulatory authorities, but also for the managers themselves.
Financial results report: examples of completion, required forms + guidance on describing each nuance of this document in the form of a simple table.
If you are an entrepreneur, then sooner or later, even if you really don’t want to, you will have to pay taxes.
How will the state know how much taxes to rip off from you? That's right - from your mandatory reports.
This is what we will talk about today, perhaps the most important report.
What kind of document is this? This is "great and terrible" income statement example which we will look at in detail today.
Financial report: an example of how to properly evaluate your business
In this section, we will briefly consider the very concept of such an instrument of financial control over small and medium-sized businesses as the “report of financial results”, the form of which, by the way, was updated not so long ago - in 2015.
In short, a statement of financial results (an example is available on the website of the Ministry of Finance - http://minfin.ru/ru/document/?id_4=58358), is basic from the point of view of assessing the work of a particular enterprise.
In itself, it is one of the types of financial statements of an enterprise, and is included in the general accounting unit.
From a regulatory point of view, it falls under the control of the Ministry of Finance, on whose initiative a number of new regulations and amendments to those already in force were adopted to “optimize” business operations.
In practice, this was one of the measures to increase control over cash flows in Russia in order to increase tax revenues to the treasury.
A report is submitted based on the results of a certain period of time - month, quarter, year. Different industries and different cases have different requirements.
An important point is that this document must be detailed, and all the numbers in it must be confirmed.
This means that the basic indicators of the company’s financial statements may not be enough to complete it, so additional explanations and indicators will have to be provided.
The second important point that it is not advisable to forget about: an income statement is an example of a “dynamic” document.
In other words, his task is to show everything in dynamics, in comparison with earlier indicators, therefore he requires every little detail to be included. Failure to enter them will result in administrative penalties.
The report is prepared by the accounting department.
Two years ago it was decided that for this it was necessary to use “Form 2”, as indicated on the Ministry of Finance website.
The document must not only record losses or profits, but also indicate their exact reason.
Interestingly, it must be submitted in electronic or machine-readable form, since it is studied automatically.
Let's study the example of an income statement
The financial results report, an example of which can be seen below, begins with filling out data about the enterprise: name, details, description of activities.
There, at the beginning, the date at the time of submission and units of measurement are indicated.
A financial report is a document that should account for all the receipts and expenses of your business.
The first and most important section is revenue, followed by an indication of the cost of production, as well as other expenses associated with the main activity.
After this, it is worth filling out the remaining (not related to the main activity) income and expenses, including bank interest and loans.
Then there is a section devoted to income taxes (for the sake of this tax, the report, in fact, is needed by the state) and others (including deferred ones).
The final part of the report ends with the calculation of the enterprise without taking into account income tax.
Note that all this, as already mentioned, is shown in dynamics - in comparison of the current reporting period with similar indicators of the previous one.
Let’s say our document is completed based on the results of 2016, which means we compare it with 2015.
It is also important that each column (and therefore each indicator that contains the financial results statement, an example of which we looked at) has its own code assigned by the Ministry of Finance of the Russian Federation.
This is necessary for automatic analysis by fiscal authorities.
For an entrepreneur, this means that each of your indicators (revenue, income, expenses - everything) has a specific code that cannot be changed, otherwise there will be an error, and errors in accounting reports are punishable by administrative measures.
Income Statement: An Example That Needs Explanation
Despite the fact that this financial results report itself (example as proof) is small - only one page, there can be a lot of hassle with it. Especially if you are not an accountant, but just an individual entrepreneur.
Therefore, let’s dwell on some problematic issues – especially terminology.
1. “Regular” activities
| № | Term/string | Description |
|---|---|---|
| 1 | “Revenue” refers to the funds you received during the reporting period from sales of goods or services. A nuance - revenue is indicated minus fees, excises and taxes. |
|
| 2 | Cost of sales | this amount is equal to your actual costs for the production of your products. |
| 3 | Business expenses | This includes the costs of advertising, delivery and storage of products. And also for renting retail premises. |
| 4 | Administrative expenses | Most companies operating in the trade and supply and sales segments of the market do not fill out this item. It concerns only those companies that write off amounts to account 90 that were previously indicated on account 26 in the category “General business expenses.” Details are on the Ministry of Finance website ( http://minfin.ru/ru/perfomance/accounting |
| 5 | Gross profit | profit indicator without deduction of taxes, excise taxes and cost (taking all this into account, the parameter would be called “net profit”). Essentially it shows how many products you sold and how much money you received from sales. |
| 6 | Gains or losses from sales | in this case, everything is simple: this is the difference between revenue and cost and other administrative and commercial expenses. |
2. “Other” activities of the company (represent a separate subsection)
| № | Term/string | Description |
|---|---|---|
| 1 | Income from participation in other organizations | legal entities may own shares (blocks of shares) in other legal entities. So, a holding company can have shares in dozens of companies, and receive dividends from this - the main income. This is where you need to reflect income from securities or equity participation in other organizations. |
| 2 | Interest receivable | a more specific option that continues the previous topic. Can receive profit in the form of interest - here you must indicate in the form of what interest (from what): interest on loans issued, dividends on shares, interest on deposits. |
| 3 | Percentage to be paid | similar to the previous one, but on the contrary - you indicate not profit on interest, but expenses - on the same loans, for example. |
| 4 | Other income | everything that was not included in the previous sections. This also includes unregistered profit for the previous year (if any), as well as profit from non-core activities (for example, from the sale of old furniture after purchasing new ones). |
| 5 | other expenses | similar to the previous column, but about expenses. This also includes fines, penalties and other irregular payments. By the way, if you are given a fine for an incorrectly completed report, then it will also need to be indicated here. |
| 6 | Current income tax | Everything seems simple here: indicate the amount of income tax for your enterprise. |
| 7 | Net profit or loss | Previously we introduced gross profit and mentioned net profit. So, if there is such a net profit, then it must be entered here. If there is no profit for the reporting period, but there is, accordingly, a loss, then it should also be recorded here. |
| 8 | everything that was not included in the previous columns in our income statement, an example of which we are studying, is indicated here. Here you can add explanations to the previous columns, if they require it. |
Example of a financial performance report from the Ministry of Finance
A one-page document does not seem to be so complicated, but for inexperienced entrepreneurs who need to fill out not only this report, but also a lot of other pieces of paper, it can raise a number of questions.
The Ministry of Finance tried to answer the most common of them in advance.
So, a report on financial results: an example of recommendations from the Russian Ministry of Finance. These comments can be found in official letters from the Ministry of Finance.
So, my message dated February 6, 2015 ( http://minfin.ru/ru/document/?group_type=&q_4=&DOCUMENT_NUMER_4=&M_DATE_from_4=02/06/2015&M_DATE_to_4=02/06/2015&P_DATE_from_4=&P_DATE_to_4=&t_4=774652065&order_4=P_DATE&dir_4=DESC) the department devoted to explaining the innovations.
The first thing the regulator points out is that all amounts indicated in the report should not take into account VAT and excise taxes.
Further, all expenses are indicated without the “-” sign, but in parentheses. And all this in comparison with the previous reporting period is an exception only if the previous report was not accepted for some reason (for example, the regulator considered it erroneous and returned it for revision, or the company underwent reorganization or changed its field of activity).
In the latter case, by the way, difficulties begin - the Ministry of Finance recommends not changing the previous report itself, but changing the previous data so that they can be comparable with current indicators.
At the same time, this numbering must be clarified before filling out the same Ministry of Finance or in Department Order No. 66n ( http://www.consultant.ru/document/cons_doc_LAW_103394).
Regulatory authorities will not accept reports without line numbers or will consider them an error and impose administrative penalties.
"The code cannot be changed"
It is worth mentioning separately about line numbering.
It’s not easy to put down ordinal numbers - we have already written that each line and column has its own code. This is what he is.
To avoid confusion, we present the codes from the Order of the Ministry of Finance in the form of two tables. Note that we will only consider codes in the 2100-2200 range, because they relate to “normal” activities.
If your activity is “unusual”, then you will have to study this issue in more detail - in this case, universal advice will not always be able to help you.
So, what should “ordinary” accountants write in a certain column:
Now we check what exactly we have entered into our document so that we can correct the error in time.
To summarize, we add that each column of the report has its own characteristics. We indicated some of them - the most common lines, but omitted a number of them.
For example, if your company as a legal entity receives any income in the form of interest, then specific monetary amounts are indicated.
But if you indicate losses in the “interest” category, then you need to indicate exactly the interest - with explanations in the column to whom and for what.
All these nuances are of a private nature, and it is simply impossible to cover them - you need advice from a practitioner in your field.
The general form of the financial results statement is given in Appendix No. 1 to Order No. 66n.
The financial results report provides data for the current and previous years.
In column 1 “Explanations” indicate the number of the explanation to the corresponding line of the statement of financial results.
Column 3 must be added independently to indicate the line code in it.
General rules for filling out the financial results report
The annual income statement reflects data on income and expenses recognized in the company's accounting records for the reporting and previous years.Last year's data should be taken from last year's income statement.
To fill out the lines with indicators for the reporting year, you will need:
- balance sheet for the reporting year;
- balance sheet for the subaccount “Other income” to account 91 “Other income and expenses” (with breakdown by subaccount) for the reporting year;
- balance sheet for the subaccount “Other expenses” to account 91 “Other income and expenses” (with breakdown by subaccount) for the reporting year.
The procedure for filling out individual lines of the financial results statement
Let's consider what should be reflected according to certain indicators given in the financial results report.IN line 2110 reflect income from ordinary activities - revenue for goods sold, work performed, services rendered. Please note: income must be indicated excluding VAT and excise taxes.
The cost of goods sold (work performed, services provided) corresponds to the indicator for line 2120. When calculating the total, it is taken into account with a minus sign, therefore it is enclosed in parentheses.
IN line 2100 indicate the amount of gross profit (the difference between the indicators of lines 2110 and 2120), in line 2210- commercial expenses, in line 2220— administrative expenses.
The financial result from the sale of goods (performance of work, provision of services) (sum of lines 2100, 2210 and 2220) is recorded in line 2200. If it is negative, it means the organization was operating at a loss.
Income resulting from participation in the authorized capitals of other organizations (dividends on shares) and joint activities is indicated in line 2310, but only if such income is not the main one. Otherwise, its value should be in line 2110.
IN line 2320 combined amounts of interest that the organization received in the reporting period on bonds, deposits, government securities, funds stored in a current account, issued loans and borrowings. And the amounts accrued for payment already on their bonds and bills, as well as on loans taken out, are contributed to line 2330. This is an expense, so write the amount in parentheses.
IN lines 2340 And 2350 provide other income and expenses that were not included in the figures of the previous lines.
IN line 2300 calculate profit before tax by summing lines 2200 - 2350 and taking into account that expenses are indicated with a minus sign.
Lines 2410 - 2450 are intended for income tax payers, so “simplified” people put dashes in them and move on to the next line - 2460. It, in particular, reflects the tax paid under the simplified taxation system (in brackets), as well as penalties and fines accrued for violations of tax laws.
IN line 2400 calculate net profit (or loss) for the reporting year. For “simplified” people, this will be profit minus the accrued single tax under the simplified system. By the way, the indicator on line 2400 of the financial results statement must coincide with the indicator of retained earnings (uncovered loss) from section. III balance sheet liabilities for this year (minus the same indicator for last year).
The following is background information. By line 2510 show the result of the revaluation of the organization’s non-current assets carried out in the reporting period. Note that this line indicates only the change in additional capital that arose due to the revaluation of non-current assets carried out in the reporting period. The amounts of revaluation (depreciation) of fixed assets and intangible assets included in the financial result as other income (other expenses) are shown in line 2340 “Other income” or 2350 “Other expenses”.
By line 2520 show the result of other operations that are not included in the net profit (loss) of the period.
IN line 2500 indicate the total financial result of the period. The indicator is determined as follows: line 2400 + line 2510 + line 2520.
Index lines 2900 represents the profit due for the reporting period to holders of ordinary shares. The indicator is calculated using the formula:
Basic profit (loss)
per share
Basic profit
(lesion)
Weighted average number of shares
The weighted average is the quotient of the total number of shares outstanding on the 1st day of each month of the reporting year divided by the number of months in it.
Another indicator related to the stock market, diluted earnings (loss) per share is reflected in line 2910. It is calculated like this:
Diluted profit (loss)
per share
Net profit - Dividends on preferred shares
Weighted average number of ordinary shares
The figures are provided by shareholders holding convertible securities.
Now we offer a scheme, which helps determine the report indicators (Dt and Kt mean debit and credit turnover for the reporting period according to the accounting accounts).
Line 2110 “Revenue” (minus VAT, excise taxes and other similar mandatory payments)= Kt 90, subaccount “Revenue”, - Dt 90 subaccounts “VAT”, “Excise taxes”, “Export duties”.
Line 2120 “Cost of sales”= Dt 90, subaccount “Cost of sales”, in correspondence with accounts 20, 41, 43 and 45. Enclose the indicator in brackets.
Line 2100 “Gross profit”= line 2110 + line 2120.
Line 2210 “Business expenses”= Dt 90, subaccount “Cost of sales”, in correspondence with account 44. Enclose the indicator in brackets.
Line 2220 “Administrative expenses”= Dt 90, subaccount “Cost of sales”, in correspondence with account 26. Enclose the indicator in brackets. Please note that it is more convenient to organize a separate subaccount of the same name on account 90.
Line 2200 “Profit (loss) from sales”= sum of lines 2100 - 2220.
Line 2310 “Income from participation in other organizations”= Kt 91, subaccount “Other income”, in the amount of income from equity participation.
Line 2320 “Interest receivable”= Kt 91, subaccount “Other income”, in the amount of interest receivable.
Line 2330 “Interest payable”= Dt 91, subaccount “Other expenses”, in the amount of interest payable. Enclose the indicator in parentheses.
Line 2340 “Other income”= Kt 91, subaccount “Other income”, minus interest receivable.
Line 2350 “Other expenses”= Dt 91, subaccount “Other expenses”, minus interest payable. Enclose the indicator in parentheses.
Line 2300 “Profit (loss) before tax”= sum of lines 2200 - 2350. If there is a loss during the reporting period, the value is indicated in parentheses.
Line 2460 "Other"= Dt 99 regarding the tax paid under the simplified tax system. Enclose the indicator in parentheses.
Line 2400 “Net profit (loss) of the reporting period”= sum of lines 2300 - 2460. Indicate the resulting loss in parentheses.
Example. Completing the financial results report
An LLC registered in 2016 applies the simplified tax system.
Accounting data for 2016 is shown in the table.
LLC accounting data as of December 31, 2016
The financial results report for 2016 in the general form will be completed as follows:
| Explanations | Indicator name | Code | For 2016 | For 2015 |
|---|---|---|---|---|
| - | Revenue | 2110 | 400 | - |
| - | Cost of sales | 2120 | (150) | (-) |
| - | Gross profit (loss) | 2100 | 250 | - |
| - | Business expenses | 2210 | (45) | (-) |
| - | Administrative expenses | 2220 | (25) | (-) |
| - | Profit (loss) from sales | 2200 | 180 | - |
| - | Income from participation in other organizations | 2310 | - | - |
| - | Interest receivable | 2320 | - | - |
| - | Percentage to be paid | 2330 | (-) | (-) |
| - | Other income | 2340 | - | - |
| - | other expenses | 2350 | (-) | (-) |
| - | Profit (loss) before tax | 2300 | 176 | - |
| - | Current income tax | 2410 | (-) | (-) |
| - | incl. permanent tax liabilities (assets) | 2421 | - | - |
| - | Change in deferred tax liabilities | 2430 | - | - |
| - | Change in deferred tax assets | 2450 | - | - |
| - | Other | 2460 | (27) | - |
| - | Net income (loss) | 2400 | 153 | - |
The accountant crossed out the lines in column 1. This is possible since the company does not draw up explanations for the financial statements, the numbers of which are indicated in this column.
Column 4 is the only one that requires filling out by the newly created organization. The accountant entered indicators into this column based on the data given in the table. Column 3 has also been added to indicate line codes.
So, in line 2110 The accountant showed the revenue. Value - 400 thousand rubles.
IN line 2120— cost of sales — 150 thousand rubles. This indicator is in brackets, that is, negative.
IN line 2210 commercial expenses are reflected - 45 thousand rubles.
IN line 2220— management — 25 thousand rubles.
Index lines 2200“Profit (loss) from sales” is equal to 180 thousand rubles. (45 thousand rubles - 25 thousand rubles).
IN line 2300“Profit (loss) before tax” duplicates the indicator from lines 2200— 180 thousand rubles.
IN line 2460 The accountant entered the amount of the accrued “simplified” tax - 27 thousand rubles. The indicator is enclosed in parentheses.
IN line 2400 The company's net profit is calculated. It is equal to 153 (180 thousand rubles (line 2300) - 27 thousand rubles (line 2460)).
In the reference section of the report on line 2500 the total financial result of the reporting period is indicated - 153 thousand rubles.
All unfilled lines in column 4 have dashes.
Loading...
