Profit and loss statement data. Profits and Losses Report

Many Russian enterprises are required to draw up a document such as a profit and loss statement. This source assumes the inclusion of figures that reflect how effectively the company is performing - in terms of generating revenue and ensuring business profitability. This information can be useful for investors, lenders and partners. The need to draw up an appropriate report may also arise due to the company's obligations to provide data to government agencies - the Federal Tax Service, statistical agencies. What are the features of the document in question? How to compose it correctly?

The essence of the report

The profit and loss statement is an example of the most important document from among those that form financial statements. It can be noted that another name for the source is more common, namely “statement of financial results”. This is how it sounds in many sources of law.

Sometimes the document is referred to as a "financial income statement". Regardless of the name, the corresponding source contains: monetary indicators of the firm's activities for the reporting period, information on income with a cumulative total.

The legislation of the Russian Federation defines a standardized document that reflects the relevant information - Form 2. The profit and loss statement drawn up on it includes the following main parameters: profit (loss) based on the results of the sale of goods, operating proceeds and costs, income and expenses arising from non-operating activities, costs of the organization for the production of products at full cost (or production), commercial and administrative costs, net income from sales, the amount of income tax, various liabilities, assets, net profit. In general, all this information makes it possible to adequately assess the effectiveness of the firm's business model.

Significance of the document

The profit and loss statement is an example of the most important document from the point of view of enterprise analysis. This source also includes figures that can be used to determine the profitability of the company or individual production (sale) areas.

The general work of the company is characterized, therefore, by the amount of profit, as well as by the indicator of profitability. The first criterion can be determined based on the dynamics of sales, leasing of certain funds, exchange activities and other activities aimed at making a profit. The second also depends on the level of costs.

Analysis of the report

Analysis of the profit and loss statement of the organization allows you to determine how effectively the management carries out activities within the framework of certain business processes - production, supply, solving marketing and personnel problems. Possession of relevant information will allow the management of the organization or, for example, investors to assess how competently the specialists and managers of the company are acting, to determine the priorities in optimizing the development strategy of the enterprise. The profit and loss statement of an enterprise allows you to identify what factors influence the implementation of the company's business model, what additional resources the company has to improve its financial performance. This information is important to both management and investors or lenders.

Report and accounting documents

The profit and loss statement is an example of a document that, as we noted above, is included in the financial statements. In terms of importance, it is comparable to such a source as the Balance Sheet. At the same time, the principles of drafting these documents vary greatly. Thus, the balance sheet assumes the inclusion of data as of a specific date. In turn, the income statement must contain information with a cumulative total - for the 1st quarter, six months, 9 months, as well as the tax year.

The balance sheet and income statement are all firms that keep accounting. The main task in drawing up the first type of document is to reflect information about the property of the company and about its activities. In turn, the profit and loss statement records the results of the firm and is used to assess the effectiveness of the business model of the enterprise. Very often, both documents are submitted to the relevant state authorities at the same time. The noted sources are also extremely important, as we noted, for investors, as well as partner organizations planning to cooperate with the company.

Should the data in the report be considered official?

The income statement is quite an official source. It is certified by the signatures of the organization's management, and therefore cannot contain data that are presented with the intention of deliberately distorting the idea of ​​how things are going in the company. In some cases, firms involve external partners in the preparation of the relevant document in order to improve the quality of the analysis of the business model of the enterprise. This is carried out in the interests, first of all, of the company itself, which draws up the document - the attitude of other market players towards it often depends on how responsibly the organization approaches the formation of this report.

Document structure

The general principle of structuring the report is in the reflection of indicators that allow you to get an idea of ​​whether the company is unprofitable or profitable. Key information related to this is recorded at the very beginning of the document (this is revenue, sales data, expenses - including management).

After the basic information reflecting the efficiency of the enterprise is recorded in the document, additional indicators related to the formation of income or expenses are entered into the report - for example, interest on deposits (or, conversely, debt obligations), figures reflecting the results of business activities firms before tax. Then the profitability of the company is calculated after paying the necessary fees to the budget and is also recorded in the report. Thus, the final financial result is formed - net profit (or, conversely, loss) for the tax period.

Specifics of defining indicators for the report

What to look for when defining indicators to be included in a document such as Form 2? The income statement should primarily be prepared on an accrual basis. What does it mean? Revenue should be accrued at the moment when a buyer or customer of the organization must begin to fulfill obligations related to payment for goods or services. Typically, they occur after products have been shipped or services have been provided. Documented, this is usually accompanied by the presentation by the customer of the necessary calculation sources.

So, now we know what Form 2 is - a profit and loss statement. Let us now study what are the nuances of drawing up this document. The corresponding report form is standardized and recommended by the Ministry of Finance. It is necessary to prepare the document before March 30 of the year following the reporting year - if we are talking about the provision of data for the tax year. It can be noted that the corresponding form of the profit and loss statement can be corrected by the specialists who draw up this document. These or those lines can be deleted (for example, if there is nothing to reflect on certain indicators) or, conversely, added by employees of the corresponding divisions of the company.

How to fill out a report?

How to fill in the profit and loss statement correctly? Form 2 is the first thing we need. It can be requested at the nearest branch of the Federal Tax Service or downloaded from the agency's website - nalog.ru. The first thing you should pay attention to when filling out the corresponding document is that the total indicators are recorded in each of its lines.

It can be noted that the general information about the organization indicated in Form No. 2, in general, is similar to those recorded in the balance sheet, or Form No. 1. These include: the reporting period, the name of the company (in accordance with the constituent documents), OKVED codes and others that are required in accordance with the form, the legal status of the company, as well as the units of measurement used in the document.

In what sequence can such a document be filled in, a profit and loss statement? We will study an example of an algorithm for compiling a corresponding document based on the key points of Form No. 2.

Paragraph 2110 specifies the entity's revenue. It represents the amount of income generated from the sale of goods, the provision of services, or the performance of work by the reporting firm. VAT must be deducted from this amount. Information to fill out the appropriate item should be taken from account 90 (that is, "Sales").

Paragraph 2120 fixes the cost. Information to fill it out should also be taken from account 90 (from debit). At the same time, the costs associated with the sale should be excluded (they can, in principle, include all costs, except for management and those related to transport and procurement activities - for them the form of the profit and loss statement provides for separate lines).

Paragraph 2100 records (or loss). The corresponding value is calculated easily - as the difference between the indicators in lines 2110 and 2120.

Paragraph 2210 specifies the business costs. They can be expenses associated with the main types of business activities of the company, with the exception of those related to transport and procurement. Information for the corresponding item must be taken from (its debit). These expenses are also included in the cost price shown on account 90.

In paragraph 2220, administrative expenses are fixed - those that are associated with the organization of the management system in the company. These can be related to rent, payment of labor compensation to employees, transfer of relevant taxes to the budget. The numbers must be taken from account 26 (that is, "General expenses"). Note that this data is included in the debit of account 90.

Paragraph 2200 records the profit on sales. Of course, it could also be a loss. To obtain the necessary figures, you must use the indicators of the profit and loss statement, which are contained in paragraphs 2100, 2210, and 2220. From the first indicator you need to subtract the second, and from the resulting figure - the third.

Paragraph 2310 specifies revenue from other entities. Its appearance is possible if the company invests funds in the authorized capital of other enterprises, as a result of which it receives dividends or part of the profit. This type of income is also recorded on account 91 (on credit).

Paragraph 2130 fixes interest receivable. They can be associated with the presence of bank deposits, deposits, bonds or, for example, promissory notes at the firm. The relevant information can be obtained from account 91 (as in the previous indicator, from the loan).

Adjacent to the indicated figures is paragraph 2330, which reflects the interest payable. They can be associated, for example, with loans. The necessary information can also be taken from account 91 (from debit).

Paragraph 2340 records other income. The figures are formed at the expense of the proceeds, which are recorded on account 91 (on credit), with the exception of VAT and other fees that are accounted for in the debit of this account, and are also not recorded in other indicators, which include the income statement (lines 2310 and 2320 ). Paragraph 2350 reflects, in turn, other expenses. These are the costs that are recorded on account 91 (by debit), not counting the indicators from line 2330.

Paragraph 2300 records pre-tax profit (or loss). To calculate it, it is necessary to add up several indicators, which are included in the profit and loss statement form, namely, those reflected in lines 2200, 2310, 2320, and then subtract the sum on lines 2330 and 2340 from the resulting figure. But that's not all. ... From the resulting digit, you need to subtract the value from line 2350.

Paragraph 2310 reflects income tax - for the reporting period for which the organization draws up the document in question. Account 68 (that is, "Taxes and Fees") can serve as the source of the required data. If the company pays tax according to PBU 18/02, then paragraphs 2421, 2430, and 2450 can also be filled in. What is their specificity?

Paragraph 2421 sets out the firm's permanent tax liabilities. How? For example, if, when calculating income tax, discrepancies are recorded between indicators that are included in accounting and tax accounting, then the difference between them becomes permanent. If you multiply it by the tax rate, then the corresponding amount will have to be paid by the enterprise to the budget. The corresponding obligation will be fixed on the Specific figures that must be indicated in the paragraph under consideration can be determined as the difference between the indicators of the debit and credit of account 99 (more precisely, the sub-account "Permanent tax liabilities"). This is the specifics of filling out a document if, for example, a company prepares tax documents, a balance sheet and a profit and loss statement at the same time.

Paragraphs 2430 and 2450 reflect deferred tax liabilities. If firms account for revenue or costs in one period, and taxation should be carried out in another, then the corresponding figures form a temporary difference. Income tax becomes a deferred liability. Information for the marked items can be taken both from account 77, so, for example, from account 09.

Paragraph 2460 includes other details. Here information can be recorded regarding other amounts that affect the size of the firm's profit. These can be various penalties, fines, overpayments.

Paragraph 2400 reflects the entity's net income. The corresponding figures can also fix a loss. In order to get them, it is necessary to subtract the sum of the indicators of points 2410, 2430, and 2450 from line 2300. After that, subtract the values ​​in line 2460 from the resulting sum.

Paragraph 2510 records the revaluation result. It reflects the results associated with the revaluation of various non-current assets. Paragraph 2520 records the result from other transactions. The corresponding line reflects information that was not taken into account by the compiler of the report in the previous paragraphs. Paragraph 2500 determines the financial result for the tax period. It is determined by adding up the indicators in lines 2400, 2510, as well as 2520. If the company operates as a joint-stock company, then lines 2900 and 2910, reflecting profit or loss per share, must also be completed.

Features of working with a document

A ready-made profit and loss statement (a form with all the numbers entered, as well as signed by the head of the company) is submitted to the territorial division of the Federal Tax Service at the place of business of the enterprise.

In some cases, it is possible to draw up a simplified document. Its structure assumes the indication of a smaller number of figures - by groups of individual articles, but without much detailing of certain indicators. This opportunity is open to small businesses. Analysis of the profit and loss statement of large businesses, in turn, involves the study of a large volume of various indicators. This is necessary for the implementation of an objective assessment of the effectiveness of the development model of the organization - by managers, investors or creditors.

Information about the income and expenses of the organization, as well as its profits and losses for the reporting period and the same period of the previous year is reflected in the Profit and Loss Statement.
A profit and loss statement is drawn up at the end of the month, quarter and year, unless otherwise provided by the legislation of the Russian Federation, in the form (OKUD 0710002), approved By order of the Ministry of Finance of the Russian Federation dated 02.07.2010 N 66n"On the forms of financial statements of organizations" (hereinafter - Order N 66n).

The composition of the Profit and Loss Statement, as follows from the OKUD 0710002 form, includes the following lines:
Revenue.
This line reflects information on revenue (income from ordinary activities) received by the organization (clauses 4, 5, 18 of the Accounting Regulations "Income of the organization" PBU 9/99, approved By order of the Ministry of Finance of the Russian Federation dated 06.05.1999 N 32n(hereinafter - PBU 9/99)).
The value of the "Revenue" line is determined on the basis of data on the total credit turnover for the reporting period on subaccount 90-1 "Revenue", reduced by the total debit turnover for this reporting period on subaccounts 90-3 "Value added tax", 90-4 " Excise taxes ", 90-5" Export duties "account 90" Sales "( accounting of financial and economic activities of organizations, approved by By order of the Ministry of Finance of the Russian Federation of October 31, 2000 N 94n(hereinafter - Instructions for the use of the Chart of Accounts)).

Note!
Proceeds from the sale of products (goods), proceeds from the performance of work (provision of services) and the like, constituting five or more percent of the total amount of the organization's income for the reporting period, are shown for each type separately ( clause 18.1 PBU 9/99). To do this, the organization must enter additional lines to the "Revenue" line.

Cost of sales.
This line reflects information on the costs of ordinary activities that formed the cost of goods sold, products, work performed and services rendered (paragraphs 4 , 5 , 9 , 21 Accounting Regulations "Organization Expenses" PBU 10/99, approved by By order of the Ministry of Finance of the Russian Federation of 05/06/1999 N 33n(hereinafter - PBU 10/99)).
The value of the line "Cost of sales" is determined on the basis of data on the total debit turnover for the reporting period on account 90 "Sales" subaccount 90-2 "Cost of sales" in correspondence with accounts 20 "Main production", 23 "Auxiliary production", 29 "Service production and economy ", 40" Output of products, works, services ", 41" Goods ", etc.

Note!
In the case of allocation of types of income in the Profit and Loss Statement, each of which separately amounts to five or more percent of the total income of the organization for the reporting year, new lines are added to the line "Cost of sales", which show expenses corresponding to the allocated organization types of income ( clause 21.1 PBU 10/99).

Gross profit (loss).
This line shows information about the gross profit of the organization, that is, about the profit from ordinary activities.
The value of the Gross Profit (Loss) line is determined as the difference between the key figures of the Revenue and Cost of Sales lines. Note that if, as a result of subtracting these indicators, a negative value (loss) is obtained, then this value is shown by the organization in the Profit and Loss Statement in parentheses.

Selling expenses.
This line reflects information on the costs of ordinary activities related to the sale of products, goods, works and services (commercial expenses of the organization) (paragraphs 5 , 7 , 21 PBU 10/99).
The value of the line "Commercial expenses" is determined on the basis of data on the total debit turnover for the reporting period on account 90 "Sales" subaccount 90-2 "Cost of sales" in correspondence with account 44 "Sales expenses" ( Instructions for using the Chart of Accounts).

Administrative expenses.
This line shows information about the costs of ordinary activities associated with the management of the organization (paragraphs 5 , 7 , 21 PBU 10/99).
The value of the line "Administrative expenses" is determined on the basis of data on the total debit turnover for the reporting period on account 90 "Sales" subaccount 90-2 "Cost of sales" in correspondence with account 26 "General business expenses", but provided that such a procedure for writing off administrative expenses are provided for by the accounting policy of the organization.

Profit (loss) from sales.
This line reflects information about the profit (loss) of the organization from ordinary activities.
The value of the "Profit (loss) from sales" line is determined by subtracting the indicators of the lines "Selling expenses" and "Administrative expenses" from the key figure of the "Gross profit (loss)" line. Note that if, as a result of subtracting these indicators, the organization received a negative value (loss), then this value is shown in the Profit and Loss Statement in parentheses.

Income from participation in other organizations.
This line shows information about the income of the organization received from participation in the authorized (share) capital of other organizations and which is other income for it ( paragraph 4 of PBU 9/99).
The value of the line "Income from participation in other organizations" is determined on the basis of data on the total credit turnover for the reporting period on account 91 "Other income and expenses" subaccount 91-1 "Other income" analytical account for accounting for income from participation in the authorized capital of other organizations.

Interest receivable.
This line reflects information on the income of the organization, in the form of interest due to it, which is other income for the organization.
The value of the "Interest receivable" line is determined on the basis of data on the total credit turnover for the reporting period on account 91 "Other incomes and expenses" to subaccount 91-1 "Other income", analytical account for accounting for interest receivable.

Percentage to be paid.
This line displays information about other expenses of the organization, in the form of accrued interest payable.
The value of the line "Interest payable" is established on the basis of data on the total debit turnover for the reporting period on account 91 "Other income and expenses" subaccount 91-2 "Other expenses", analytical account of accounting for interest payable by the organization.

Other income.
This line reflects information on other income of the organization, not listed above.
The value of the line "Other income" is determined on the basis of data on the total credit turnover for the reporting period on account 91 "Other income and expenses" subaccount 91-1 "Other income" (excluding analytical accounts for accounting for interest receivable and income from participation in authorized capital other organizations) minus the debit turnover on account 91 "Other income and expenses" to subaccount 91-2 "Other expenses" in terms of VAT, excise taxes and other similar mandatory payments.

Note!
Other income, amounting to five or more percent of the total amount of the organization's income for the reporting period, is shown for each type separately ( clause 18.1 PBU 9/99). To do this, the organization can enter additional new lines in the Profit and Loss Statement.

Other expenses.
This line reflects information on other expenses of the organization, not mentioned above.
The value of the line "Other expenses" is determined on the basis of data on the total debit turnover for the reporting period on account 91 "Other income and expenses" to subaccount 91-2 "Other expenses" (excluding analytical accounts for accounting for interest payable and accounting for VAT, excise taxes and other similar obligatory payments to be received from other legal entities and individuals).

Note!
If in the Profit and Loss Statement types of income are distinguished, each of which individually constitutes five or more percent of the total amount of the organization's income for the reporting year, it shows the part of expenses corresponding to each type ( clause 21.1 PBU 10/99). To do this, the organization can enter additional lines in the Profit and Loss Statement.

Profit (loss) before tax.
This line reflects information on profit (loss) before tax (we are talking about the accounting profit (loss) of the organization) ( paragraph 79 Regulations for the maintenance of accounting and financial reporting in the Russian Federation, approved by By order of the Ministry of Finance of the Russian Federation of July 29, 1998 N 34n).
The value of the line "Profit (loss) before tax" is determined by adding the indicators of the lines "Profit (loss) from sales", "Income from participation in other organizations", "Interest receivable" and "Other income" and deducting the line indicators from the resulting sum "Interest Payable" and "Other Expenses". If the result is a negative value (loss), then this value is shown by the organization in the Profit and Loss Statement in parentheses.

Current income tax.
This line displays information about the current income tax, that is, the amount of income tax reflected in the income tax return and calculated according to tax accounting data (paragraph 24 of the Accounting Regulations "Accounting for calculations of corporate income tax" PBU 18/02 approved By order of the Ministry of Finance of the Russian Federation of November 19, 2002 N 114n(hereinafter - PBU 18/02)).

Including permanent tax liabilities (assets).
This line contains information on the balance of permanent tax liabilities (assets) ( paragraph 24 PBU 18/02).
The value of the line under consideration is determined as the difference between credit and debit turnovers for the reporting period on account 99 "Profits and losses", (analytical account (subaccount) for accounting for permanent tax liabilities (assets)) and represents the balance of permanent tax assets and permanent tax liabilities accumulated during the reporting period.

Change in deferred tax liabilities.
This line reflects information on changes in the amount of deferred tax liabilities recognized in accounting in accordance with the requirements PBU 18/02 (paragraph 24 PBU 18/02).
The value of the line "Change in deferred tax liabilities" is determined as the difference between the credit and debit turnovers on account 77 "Deferred tax liabilities" for the reporting period (excluding the debit turnover on account 77 in correspondence with account 99 "Profits and losses").

Change in deferred tax assets.
This line shows information on changes in the amount of deferred tax assets recognized in accounting in accordance with the requirements PBU 18/02 (paragraph 24 PBU 18/02).
The value of the line "Change in deferred tax assets" is determined as the difference between the debit and credit turnovers on account 09 "Deferred tax assets" for the reporting period (excluding the credit turnover on account 09 in correspondence with account 99 "Profits and losses").

Other.
This line provides information on other, not mentioned above, indicators that affect the amount of the organization's net profit (paragraph 23 of the Accounting Regulations "Financial statements of the organization" ( PBU 4/99), approved By order of the Ministry of Finance of the Russian Federation dated 06.07.1999 N 43n(hereinafter - PBU 4/99)).

Net income (loss).
This line reflects information about the net profit (loss) of the organization, that is, information about retained earnings (uncovered loss) ( paragraph 23 PBU 4/99).

In addition to the above lines, the Profit and Loss Statement has a "For Reference" Section, which includes:
Result from revaluation of non-current assets, not included in the net profit (loss) of the period;
Result from other transactions not included in the net profit (loss) of the period;
Aggregate financial result of the period;
Basic earnings (loss) per share;
Diluted earnings (loss) per share.

Note!
The details of the indicators for the corresponding lines of the Profit and Loss Statement should be determined independently by the organizations, as indicated by clause 3 of Order N 66n.
Organizations may present indicators of individual income and expenses in total with disclosure in the notes to the Profit and Loss Statement, if each of these indicators individually is immaterial for the assessment of the financial position of the organization or the financial results of its activities by interested users. Note that the number of the relevant explanation to the Profit and Loss Statement is indicated in column 1 "Explanations".

For each numerical indicator of the Profit and Loss Statement, in addition to the report drawn up for the first reporting year, data must be provided for at least two years - the reporting and preceding the reporting ( clause 10 PBU 4/99). For this, the OKUD 0710002 form contains columns in which, for each line of the report, indicators are given for the reporting period and for the period of the previous year, similar to the reporting period.

If the Profit and Loss Statement is drawn up for submission to the state statistics bodies and other executive authorities, then the indicator codes are indicated in the report according to Appendix N 4 to Order N 66n.

If the organization does not have numerical data on assets, liabilities, income, expenses, business transactions, the corresponding lines (columns) in the form are crossed out.

Let us consider, using an example, the procedure for filling out the OKUD 0710002 form of the Profit and Loss Statement for 2011.

Example:
(conditional numbers)
The organization LLC "Mir", which is in the general regime, draws up a profit and loss statement for 2011.
To fill out the specified report, data from the balance sheet for 2011 is required.

Profits and Losses Report
for ____________ 2011

The income statement is the second most important form of accounting.

It characterizes the financial results of the organization for the reporting period and contains data on income, expenses and financial results in the cumulative total from the beginning of the year to the reporting date.

In contrast to the balance sheet, which allows you to assess the results of activities at the end of the reporting period, the income statement shows why there have been changes in the current balance compared to the past, i.e. how the organization's equity capital changes under the influence of income received and expenses incurred.

The profit and loss statement must be clear and visual, contain information on all income and expenses in full, without offsetting.

Indicators of individual income and expenses may be presented in the income statement in a total amount with disclosure in the explanatory notes, if each of these indicators individually is immaterial for assessing the financial position of the organization or the financial results of its activities.

In the income statement, income and expenses should be shown with a division into ordinary and other. The criterion for differentiating income and expenses from ordinary activities and other income and expenses depends on the subject of the organization's activities and their types and is determined by the organization independently.

When compiling the report, the calculation of revenue and other income, as well as expenses, is carried out on an accrual basis, which assumes that business transactions are reflected in the accounting accounts and in the accounting statements in the reporting periods in which they occurred, regardless of the receipt or payment of funds ... That is, revenue is accrued at the moment when consumers have obligations to pay for products or services (most often at the time of shipment of products or the provision of services), and expenses are written off at the time the costs associated with obtaining income arise.

In contrast to the balance sheet, the income statement does not show the balances on the general ledger accounts, but the turnovers on them.

In the profit and loss statement, according to the order of the Ministry of Finance of the Russian Federation dated 02.07.2010. No. 66n, indicators for the reporting period and for the same period of the previous year are reflected. It consists of the following articles:

- "Revenue". It reflects the amount of proceeds from the sale of products and goods (excluding VAT), receipts related to the performance of work (provision of services), the implementation of business transactions that are income from ordinary activities recognized by the organization in accounting in accordance with the conditions determined for their recognition in PBU 9/99 "Income of the organization"

In addition to proceeds from sales, proceeds from the lease of property, from participation in the authorized capital of other organizations can be classified as income from ordinary activities, if the transactions that bring such receipts are recognized as the subject of the organization's activities. Otherwise, these incomes are considered miscellaneous.

The main activities of the organization are determined by its charter. Here one should be guided by the requirement of materiality. In the approved form of the report, revenue is reflected without decryption. However, if an organization wants to show interested users how much income was brought by this or that type of entrepreneurial activity, they can be recorded by supplementing the report with the appropriate lines.

- "Cost of sales". This line reflects the costs of the organization associated with the production and sale of products, works, services, proceeds from the sale of which are reflected in the line "Revenue" of this report.

Organizations engaged in trade, supply, sales and other intermediary activities show the purchase value of goods, the proceeds from the sale of which are reflected in the previous line of this report. Marketing and distribution costs are not included.

• - "Gross profit". Gross profit (loss) is calculated as the difference between the proceeds from the sale of products (works, services) and the cost of sales.
• - "Commercial expenses". This item reflects the costs of the organization associated with the sale of products and related to the sold products (works, services); This can be the cost of advertising, storage and transportation of products, as well as the cost of maintaining warehouses for finished products.

Organizations engaged in trade, supply, marketing or other intermediary activities indicate on this line the amount of distribution costs attributable to the goods sold.

• - "Administrative expenses". This line is filled out by organizations whose accounting policies provide for the write-off of general business expenses directly to the sales account. If the organization, in accordance with the adopted accounting policy, attaches these costs to the account "Main production", then the share of these costs attributable to products sold is reflected in the line "Cost of sales". In this case, this line is either not shown at all, or you need to put a dash along it.
• - "Profit (loss) from sales". Here the profit (loss) from the sale of goods, products, works, services is indicated, that is, the financial result of the organization for ordinary activities.

It represents the difference between the proceeds from the sale of products (works, services) and the costs associated with their sale, reflected in the lines “Cost of sales”, “Selling expenses”, “Administrative expenses”.

Data on the structure (by cost elements) and the amount of the organization's expenses for ordinary activities are subject to reflection in the Notes to the balance sheet and profit and loss statement.

• - "Income from participation in other organizations." Here the income from participation in the authorized capital of other organizations (dividends on shares, other income on securities, etc.) is indicated.
• - "Interest receivable". This line reflects the amount of interest that the organization must receive: on bonds, deposits, securities; for the use of funds provided to another organization or located on the organization's accounts with banks.
• - "Percentage to be paid". It takes into account the interest that the organization must pay on shares, bonds, as well as loans and borrowings.
• - "Other income". Here are the following types of income:
• - receipts related to the provision for rent of the organization's property, rights arising from patents for inventions, industrial designs and other types of intellectual property; interest received for the provision of funds for use by the organization; interest for the use by the bank of funds held in the organization's account with this bank;
• - receipts related to participation in the authorized capital of other organizations (including interest and other income on securities) and profit received as a result of joint activities (under a simple partnership agreement);
• - receipts from the sale of fixed assets and other assets other than cash (except for foreign currency), products, goods;
• - fines, penalties, forfeits for violation of the terms of contracts and receipts in compensation for losses caused to the organization;
• - assets received free of charge, as well as surplus property revealed during the inventory;
• - amounts of accounts payable and accounts payable, for which the limitation period has expired
• - exchange rate differences and the amount of revaluation of assets;
• - Other income.
• - "Other expenses". This line contains the following costs:
• - from the lease of property; related to the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property; associated with participation in the authorized capital of other organizations;
• - for payment for services of credit institutions (settlement and cash services, purchase and sale of foreign currency, etc.);
• - related to the sale and other disposal of fixed assets, foreign currency and other assets of the organization;
• - on the maintenance of the mothballed production facilities;
• - R&D expenses, the results of which cannot be taken into account as intangible assets or expenses for ordinary activities; expenses for the cancellation of production orders, for the termination of production, which did not produce products;
• - for servicing securities (payment for consulting, intermediary, depository services, etc.);
• - deductions to estimated reserves, as well as reserves created in connection with the recognition of contingent economic activities;
• - negative difference between the current market value and the previous assessment of financial investments, etc.
• - fines, penalties, forfeits for violation of the terms of business contracts, which are recognized by the debtor organization; compensation for losses caused by the organization; losses from theft, the perpetrators of which were not found by a court decision, or the court returned documents in connection with the defendant's insolvency, as well as legal costs, arbitration fees;
• - insignificant losses of previous years, recognized in the reporting year;
• - the amount of receivables for which the limitation period has expired, other debts that are unrealistic for collection;
• - negative exchange rate differences;
• - funds transferred for charitable purposes, for recreation, entertainment, sports events, events, etc .;
• - the amount of VAT accrued upon the transfer of property free of charge.
• - "Profit (loss) before tax". The amount indicated in this line is found by calculation as a result of the addition of all the above income and deduction of all expenses. This line represents the "accounting" profit or loss of the organization.
• - "Current income tax". The current income tax is shown here.

The resulting value of the current income tax must coincide with the amount of income tax reflected in the declaration.

• - In the line “incl. permanent tax liabilities (assets) ”it is necessary to give the amount of permanent tax liabilities (assets). A permanent tax liability (asset) is understood as the amount of tax that leads to an increase (decrease) in tax payments for income tax in the reporting period.2 To calculate a permanent tax liability, you need to multiply the constant difference by the income tax rate.
• - “Change in deferred tax liabilities”. This line shall reflect the difference between the turnover on the loan and the debit of the account on which the deferred tax liabilities are recorded. If this difference is positive, then the result is deducted from profit before tax (increase the loss), if negative, it is added to profit (deducted from the loss).
• - “Change in deferred tax assets”. This line shall reflect the difference between the turnovers on the account on which deferred tax assets are accounted for. If the debit turnover (where the accrual of assets is reflected) exceeds the credit turnover (where the write-off or repayment is shown), then the result will increase the profit (reduce the loss), otherwise it will decrease (increase).
• - "Other". Here you can give the amount of taxes paid by organizations located on the simplified tax system, UTII, penalties and penalties paid for violation of tax legislation.
• - "Net profit (loss)" This reflects the final financial result of the organization for the reporting period, including all types of income and expenses. Net income is the result of the deduction from accounting profit before tax of the current income tax and other taxes payable on profit, with corresponding adjustments for deferred tax assets and liabilities.

Section "REFERENCE" includes the following indicators:

• - Result from revaluation of non-current assets not included in the net profit (loss) of the period;
• - Result from other operations not included in net profit (loss);
• - The cumulative financial result of the period. It is determined as the sum of the lines “Net profit (loss)”, “Result from revaluation of non-current assets not included in net profit (loss) for the period” and “Result from other operations not included in net profit (loss) of the reporting period”;
• - Basic earnings (loss) per share and diluted earnings (loss) per share, reflected only by joint stock companies in the annual financial statements. Basic earnings per share reflects the portion of the profit for the reporting period attributable to shareholders who own ordinary shares. Diluted earnings per share is a value that reflects a possible decrease in the level of basic earnings per share in the reporting period.

Information about the formation and use of profit, given in the Profit and Loss Statement, is very important for users of financial statements, since it allows them to draw conclusions about the effectiveness of the organization's activities and how justified and profitable are investments in its assets.

name of s.-kh. organization

Stage 4. The forecast balance of the enterprise is drawn up (Table No. 8.3.).

Table 8.3.

The forecast balance of the enterprise using the example of ______________________________

name of s.-kh. organization

The amount of retained retained earnings of the value

profit in the forecast = reporting period + net profit

period (p. 190 form number 2)

3520 thousand rub. + 2057 thousand. rub. = 5577 thousand. rub. (entered in page 470 of the forecast balance)

Stage 5. The resulting forecast values ​​of the assets and liabilities are summed up, and we check the balance from the point of view of compliance with balance sheet equality.

ASSETS according to the forecast = 89225 thousand rubles. Liability according to the forecast = 78669 thousand rubles,

that is, ASSET> PASSIVE.

The lack of funds in the LIABILITY indicates the need for additional external funding.

Stage 6. Determine the need for additional external funding.

Demand Forecast Forecast

in external = asset amount - liability amount

additional balance balance

financing

89225 thousand rubles. - 78669 thousand rubles. = 10556 thousand rubles.

Answer: The volume of sales of crop and livestock products, which the enterprise can achieve in the planned 2010, is 43,464 thousand rubles, which is 17% higher than the sales volume in 2009. The enterprise will need to attract funds from an additional source of financing in the amount of 10556 thousand rubles.

Problem 9.Cash flow analysis and forecasting (indirect method)

The order of the assignment:

1. Conduct an indirect cash flow analysis. Draw up table 9.1. and Table 9.3.

2. Draw conclusions based on the results of the analysis of the cash flow by the indirect method.

Financial statements are the most important analysis of all the company's activities over the past year. Regardless of the organizational and legal form, all companies are obliged to draw up it and send it to the tax authorities, as well as statistics authorities no later than March 31 of the year following the reporting year.

Attention! Individual entrepreneurs are not required to submit reports, however, they fill them out at their own discretion to assess their activities.

Annual financial statements include many forms and transcripts. For small businesses, a simplified report has been developed, consisting of only 2 main forms: balance sheet and profit and loss statement.

Profit and loss statement form 2 combines the result of the financial activities of the enterprise - it reflects the data on the received revenue and profit of the organization. In-depth analysis allows you to determine the financial position of the organization as accurately as possible and make the right management decisions on the further conduct of business based on the example of the current state of affairs.

How to compose

The report is drawn up in a unified form on a form developed by the Ministry of Finance of the Russian Federation. It can be filled in both in a general form and at the personal choice of small businesses in a simplified form.

Attention! The simplified profit and loss statement has data only on the most significant indicators, so it is impossible to make an in-depth analysis of the results of work on its basis.

Sample forms can be downloaded at the end of the article.

Difference in the structure of reporting forms

1. Availability of breakdowns by indicators: for example, expenses for ordinary activities include information about the cost of goods sold or manufactured and selling and administrative expenses. These important indicators provide an opportunity to revise the distribution of your expenses in the future, and only general information is entered in the short form.
2. Availability in expanded form of interim results of work - profit (loss) from sales, before taxes and, finally, net profit. This makes it possible to estimate the tax burden as much as possible and calculate the share of expenses attributable to the payment of income tax.

The main indicators of the financial result, their structure

Revenue (line 2110)

Revenue is the first indicator that characterizes the effectiveness of the activities carried out and the effectiveness of management accounting in the company. Line 2110 records the main results of work minus VAT, excise taxes and additional mandatory payments.

In IFRS (International Financial Reporting Standards), for the recognition of revenue, the basic requirements for the transaction must be met:

• the company has transferred ownership and no longer participates in the management of the goods sold or services sold;
• the proceeds and costs of the transaction can be clearly defined;
• the transaction was carried out with the receipt of economic benefits for the seller and there is confidence in its receipt.

Line 2110 makes it possible to analyze sales, make management decisions about the possible intensification of the search for potential buyers if sales are low. In addition, since the revenue for 2110 is determined after deducting VAT, you can immediately consider the receipts from suppliers and analyze the presence of input VAT to reduce this tax, i.e. all reports at the enterprise are interconnected. In addition, the deduction of VAT and excise taxes from the total amount of sales makes it possible to assess the performance as accurately as possible (since the VAT and excise taxes issued to buyers are still subject to payment to the budget).

Profit (loss) from sales

This intermediate is only available in full form for large organizations. It includes not only sales performance (line 2110 with VAT and excise taxes deducted), but also all costs incurred for production, workflow (administrative costs), sales of products or services.

Profit (loss) from sales before tax

In addition to the profit received from the main activity, this indicator contains data on other income, for example, from participation in other organizations, interest received from loans provided or proceeds from the sale of fixed assets, etc. The main expenses incurred by the company in a given year are supplemented costs not related to the main activities of the organization (for example, banking services).

Net income (loss)

The final result of the firm's activities. Shows the real income of the company after deducting all costs incurred. The distribution of net profit is an important part of management accounting, which is why it is so important to correctly read and analyze this line in the income statement.

Attention! The amount of net profit differs from the completed line in the balance sheet on retained earnings, since the balance sheet contains information on an accrual basis, and in Form 2 - only for the reporting year.

After the formation of all indicators, you should remember about manually filling in additional reference transcripts.

Cost structure, their presentation in accordance with IFRS

When filling out the reporting form to determine the net profit, all costs incurred by the company in the current year are taken into account: both for ordinary activities and additional costs. In accordance with the requirements of IFRS, the reporting costs are shown in accordance with the selected disclosure method, which allows more accurate and reliable information to be conveyed.

For costs in IFRS there is the following cost classification:

1. "By the nature of costs" - this method does not require the allocation of costs according to their purpose and all costs are grouped by nature.
   • Revenue
   • Other income
   • Finished goods and work in progress
   • Materials used in the work
   • Remuneration of workers
   • Depreciation
   • Other cash expense
   • Profit
2. "By designation of costs" - this method makes it possible to distribute costs according to their intended purpose to determine the cost of sales. This distribution provides more complete information, however, it should be noted the subjectivity of judgments about the attribution of costs by goals.
   • Revenue
   • Cost of sales
   • Total profit
   • Other income
   • Implementation costs
   • Administrative costs
   • Other costs
   • Profit

Comment! In Russia, most organizations operating in accordance with IFRS adhere to the allocation of costs according to their purpose.

An example of filling out a reporting form

This example characterizes the activities of an arbitrarily taken organization Yagoda LLC with its performance indicators in 2017. You can view and download an example of filling out the 2017 profit and loss reporting form below.

Analysis of the profit and loss statement by sample

Initial analysis of the income statement - comparison of interim earnings data. In this example, there is a tendency towards an increase in gross profit due to a decrease in the cost of sales. That is, in the current year, the company took measures to reduce the cost of implementation (for example, changing the supplier or delivery methods for the purchased equipment). The decrease in total sales proceeds (line 2110 excluding VAT) did not affect the final result.

In general, this example of a profit and loss statement allows us to draw a conclusion about the successful business policy of this company for the reporting year - it was possible to reduce commercial expenses, and net profit increased. However, it is necessary to monitor activities so that there is no significant decrease in revenue constantly, as this can cause losses and there is a risk of bankruptcy of the enterprise. Net profit is an indicator of the company's availability of funds after calculations for taxes and all similar budgetary payments. Management decisions should be directed towards the correct distribution of the balance to obtain the greatest benefit.

Conclusion

A comprehensive analysis of the profit and loss statement allows you to read the indicators in a timely manner and identify a decrease in sales (line 2110), the main reasons for a decrease in profits. This makes it possible to make decisions on the redistribution of funds, since the main goal of any enterprise is to maximize profits and reduce costs.

Every year in Russia, accounting standards are more and more approaching IFRS, so every accountant should know the basic requirements for reporting not only in accordance with RAS, but also being guided by IFRS methodological materials. Moreover, the analysis should be carried out regardless of the presence of the obligation to submit reports - the study of indicators is the most important step towards the further functioning of the organization.