In order to identify whether the organization has a profit or a loss has been received at the end of the reporting period, it is necessary to determine the financial result. In the article we will tell you in detail what the concept of "financial result" means, what is the method of determining it and what transactions it is reflected in the accounting.

Financial result concept

The financial result is understood as an indicator that characterizes the results of the enterprise's activities, namely, a profit is received or a loss is incurred. The period for determining the financial result is a calendar month.

The value of the financial result is influenced by such indicators as the value, income from non-sale transactions, as well as expenses incurred in connection with the manufacture, purchase and sale of products.

The financial result is defined as the difference between the profit from the sold products (goods, services, works) and the costs of its production (purchase). Also, the indicator of the financial result is revealed minus taxes and fees that are payable to the budget, as well as the costs associated with the sale (delivery of goods to the retail network, salaries to sellers, storage costs, etc.).

Financial result in accounting

To identify the value of the financial result in accounting, data analysis is performed:

• financial result for the main types of activities;
• indicators of other income and expenses;
• tax accruals for payment to the budget and excise duties.

The financial result is determined by closing the reporting period (month). To do this, the balances of accounts 90 and 91 are rolled up. With this operation, the accountant reveals the total result from the main types of activities (the Sales account) and from other operations (the Other income and expenses account).

The procedure for reflecting the financial result includes the following stages:

1. Writing off the amount of expenses. All costs for the production (acquisition) and sale of goods (works, services) are written off against the products sold.
2. Analysis of balances for accounts 90 and 91.
3. Crediting profit to Kt 99 or crediting loss to Dt 99.

Financial performance indicators are cumulative in nature, its value for the reporting period is summed up with the values ​​for the previous months (quarters).

An example of the reflection of financial results in accounting

LLC "Flagman" at the end of February 2016 sold products (ceramic dishes) in the amount of 951,000 rubles, VAT 145,068 rubles. at a cost of 674,000 rubles. The costs for the sale of dishes amounted to 34,300 rubles. As of .02.2016, the payment proceeds amounted to RUB 911,000, VAT RUB 138,966.

Let's say the transfer of ownership of the goods passes to the buyer at the time of shipment.

The accountant of LLC "Flagman" will reflect the transactions in the accounting in the following way:

Let's change the conditions: the buyer receives the ownership of the goods at the time of payment. Let's also assume that selling expenses are to be written off against the cost of goods sold in February 2016.

Under the changed conditions, the accounting of the operation to reflect the financial result of LLC "Flagman" will look like this:

The financial result from the sale of products (works, services) is determined as the difference between the proceeds from the sale (excluding value added tax and sales tax) and the actual cost of the sold products (works, services). The income of the organization, depending on their nature, the conditions for receiving and the directions of the organization's activities, are divided into:

• 1) income from ordinary activities;
• 2) operating income;
• 3) non-operating income.

When selling products and goods, performing work and rendering services on the terms of a commercial loan provided in the form of deferred payment and payment by installments, the proceeds are accepted for accounting in the full amount of receivables.

The amount of receipts and (or) accounts receivable is determined taking into account all the discounts (capes) provided to the organization in accordance with the agreement.

Revenue is recognized in accounting if the following conditions are met:

• A) the organization has the right to receive this proceeds arising from a specific contract or otherwise confirmed;
• B) the amount of revenue can be determined;
• C) there is confidence that as a result of a particular transaction, the organization will receive economic benefits;
• D) the ownership of the product has passed from the organization (seller) to the buyer or the work is accepted by the customer;
• E) the costs incurred in connection with this operation can be determined.

If at least one of the above conditions has not been fulfilled in relation to the funds received by the organization in payment, then the accounts payable in the form of advances received from buyers and customers are recognized in the accounting of the organization and are recorded on account 3210 "Advances from buyers and customers", and not revenue.

According to the NCCR, “Revenue” is money received or to be received by a taxpayer from the sale of goods, works, services in accordance with established standards and the chosen accounting method.

International Financial Reporting Standard No. 18 “Revenue” is intended to determine the accounting procedure for revenue arising from certain types of transactions and events, determine the criteria and recognize revenue. The standard is applied when accounting for revenue from the following transactions and events:

• - sales of goods;
• - provision of services;
• - use by other parties of the assets of the company that bring interest, royalties and dividends.

This Standard does not apply to revenue from:

• - lease agreements;
• - dividends from investments;
• - insurance contracts of insurance companies;
• - changes in the reference value of assets, liabilities of other short-term assets;
• - the increase in livestock, agricultural and forest products.

The standard provides the following definition of “revenue”.

Revenue is the gross inflow of economic benefits from the ordinary course of business for the period resulting in capital increases other than contributions from shareholders. The revenue is measured at the fair value of the consideration received or expected.

Sales of goods are recognized when the following conditions are met:

• The transfer by the company to the buyer of the risks and rewards associated with the ownership of the goods;
• Ш when the company does not control the goods sold;
• When revenue can be measured reliably and there is confidence that the economic benefits will flow to the entity;
• The costs associated with the transaction can also be determined.

In most cases, the transfer of the risks and rewards associated with the property coincides with the transfer of legal title and the transfer of ownership to the buyer.

Revenue from the provision of services is recognized under the same conditions as for the recognition of revenue from the sale of goods, but with the mandatory indication of the stage of completion of the transaction at the reporting date. Recognition of revenue based on the stage of completion of the transaction is referred to as the “as available” method.

If the outcome of the service transaction cannot be measured reliably, revenue is recognized at the recognized recoverable expense.

Revenue from the use by other entities of the company's assets that generate interest, royalties and dividends is recognized provided that the economic benefits associated with the transaction flow to the company and the amount of the revenue can be measured reliably.

In addition, the following conditions must be met for revenue recognition:

• III interest should be recognized on a time-proportion basis that reflects real return on the asset;
• III royalties are recognized on an accrual basis in accordance with the substance of the agreement;
• III Dividends are recognized when the shareholders' right to receive them has been established.

The following information should be disclosed in the reporting:

• The accounting policies for revenue recognition and the methods used to determine the stage of completion of transactions for the provision of services;
• Ш the amount of proceeds from the sale of goods, the provision of services, interest, dividends and royalties;
• W is the amount of revenue from the exchange of goods and services included in each item of revenue.

Financial results from the sale of products (works, services), other values ​​and services of non-industrial (auxiliary), services on the side are determined in the second section of the journal-order No. 11 both for each month and on an accrual basis from the beginning of the year.

Net income (proceeds) from the sale of products (goods, works, services) is determined by subtracting the corresponding taxes, fees, discounts, etc. from the income (proceeds) from the sale of products (goods, works, services). is defined as follows:

Diagram 1.Determination of net income from product sales.

Operating expenses are expenses associated with the manufacture and sale of products, the performance of work and the provision of services, as well as the purchase and sale of goods. Operating expenses are accepted for accounting in the amount calculated in monetary terms, equal to the amount of payment or the amount of accounts payable.

Operating expenses are formed from expenses:

• - for the purchase of raw materials, materials, goods and other inventory;
• - for the processing of TMZ for the purpose of manufacturing products, performing work and rendering services;
• - for the sale of products and goods.

When forming expenses by operational types of activities, their grouping according to the following elements should be ensured:

• - material costs;
• - labor costs;
• - deductions for social needs;
• - depreciation;
• - other costs.

The production cost of sold products, works, services consists of:

direct material costs;

direct labor costs;

other direct costs;

production overhead.

Other costs are included in the cost of inventories if they were incurred for the purpose of:

delivery of stocks to their location;

bringing stocks to the state in which they are.

The allocation of fixed production overheads per unit of production is based on the normal capacity of the production equipment, and the variable production overheads are based on actual capacity utilization.

The actual cost of goods sold is accounted for in the debit of account 7100 "Cost of goods sold".

There are two systems for keeping records of inventory.

• 1. system of continuous accounting of stocks;
• 2. system of periodic accounting of stocks.

In a continuous (continuous) accounting system, all purchases are recorded directly into the inventory account, and their use - from the credit of the inventory account to the debit of the cost of goods account. The inventory account balance at the end of the month is equal to the ending inventory.

With this system, a continuous accounting of the movement of stocks is maintained by maintaining detailed records on balance sheets on the purchase of raw materials, materials, goods, production leave, receipt of finished products at the warehouse and their sale. As a result, inventory availability and cost of goods sold are known throughout the reporting period. Analytical accounting of inventory holdings is carried out for individual items using cards for each item.

With a periodic inventory accounting system, purchases of materials are reflected on temporary account 7110 "Costs for the purchase of raw materials and supplies." Ending stocks are determined by inventory counting. Cost of goods sold is calculated using a formula and cannot be determined until inventory ending inventory is completed. At the end of the reporting period, based on the results of inventory of ending stocks, an adjustment posting is made by debiting or crediting the balance sheet accounts for accounting for stocks in correspondence with the temporary account 7190 "Adjustment of the cost of inventories", which is then closed on account 7100 "Cost of goods sold".

Table 2.

Comparison of continuous and periodic accounting.

The Kyrgyzmebel enterprise keeps records of finished products according to a continuous accounting system.

At the end of the reporting period, temporary accounts are closed and final income tax entries are registered. The balances of all accounts of expenses and income are transferred to account 5999 “Summary of income and expenses”, which in turn is closed on account 5300 “Retained earnings” and the financial result from the sale of products is determined.

Closing temporary accounts:

Closing account 7100 "Cost of goods sold"

Dt 5999 "Code of income and expenses" - 42592300

Kt 7100 "Cost of products sold" 42592300

Closing of account 7500 "Expenses related to implementation"

Dt 5999 "Code of income and expenses" - 2116900

Kt 7500 "Expenses associated with the sale" - 2,116,900

Closing account 6110 "Sales revenue"

Dt 6110 "Sales revenue" - 57061100

Кt 5999 "Code of income and expenses" - 57061100

If account 5999 "Summary of income and expenses" is closed on a loan, then the company is at a loss

CT 5999 "Code of income and expenses"

If on debit, the company made a profit.

Dt 5999 "Code of income and expenses"

Dt 5300 "Retained earnings"

Any entrepreneur wants to sell his property at a profit. But this does not always work. For example, if a company decides to sell old equipment, the market price for which is lower than the book price, then the transaction will be negative. To learn how to display the write-off of a loss from the sale of an OS, read below.

Document flow

The implementation of fixed assets is formalized by an agreement. According to the requirement of the Methodological Instructions for BU, both parties must also sign the acceptance certificate. Information about the deregistration of an object is entered into the inventory card. Based on these documents, the accountant displays the transaction in NU. And if the transaction went through with a loss, then you need to be especially careful, since different norms are established in the Tax Code and acts. Let's consider them in more detail.

Tax risks

Very often, in order to increase demand for products or to fully sell the balances, management decides to sell the goods at a price below cost. Many accountants fear this situation, as it is prohibited by law. Is it really?

1. The price cannot be lower than the cost price.

Gas supply and communication services are regulated by the state. In other cases, the price is negotiable and there are no restrictions in the Civil Code. The antitrust company monitors the actions of the "big players". Companies with a low market share should not worry.

2. Loss from sale, if the price is lower than c / c, is not taken into account in taxation.

The base is calculated for all transactions. A separate procedure is provided only for transactions with securities. There is also a prohibition on recognizing in expenses the difference between the market price and the selling price of the product to the employee. There are no rules for other operations. If the company does not systematically operate at a loss, then the sale of fixed assets at a loss will be offset by income from other operations.

3. If the price is lower than the purchase price, then government agencies will charge additional taxes.

This situation is possible only if the transaction is controlled. Then you will have to prove to the tax authorities that its price is comparable to the market price.

4. Expenses for the purchase of goods sold at a loss cannot be taken into account when calculating the GMP.

If the costs were aimed at generating income, then they are economically justified. And the end result doesn't matter.

5. If the goods were sold at a loss, then VAT cannot be deducted on them.

This is not entirely true. It is possible to deduct VAT on unprofitable goods if the organization proves that this transaction made it possible to avoid even greater economic losses. But if the operation was carried out only on paper, then the tax authorities will not accept such explanations.

Reflection of a loss in OU

According to Art. 323 of the Tax Code of the Russian Federation, profits and losses from the sale of fixed assets should be determined for each object separately. Proceeds from the sale of property, net of VAT, are recorded in income. The taxpayer can reduce this amount by the residual value, taking into account the costs associated with its sale: storage, maintenance and transportation costs.

The financial result from the operation of the organization is calculated at the date of recognition of income. If NU uses the accrual method, then income from the sale of fixed assets is calculated at the time of transfer of ownership. If applicable, then on the date the funds are credited to the bank account.

The loss on the sale of a fixed asset is treated as other expenses. When taxing profits, it is taken into account in the manner prescribed by clause 3 of Art. 268 of the Tax Code of the Russian Federation. It is included in costs in equal parts over the period, which is calculated as the difference between the period of useful and actual use before the sale. It must be written off from the next month after implementation.

How to reflect the loss from the sale of fixed assets in the reporting?

The financial result of the transaction is reflected in the income tax declaration (NPT). Revenue is shown in line 060 of the first attachment of the second sheet of the declaration. together with expenses it is displayed in line 150 of the second annex, the loss - in page 200, decreasing the total amount of expenses (p. 270). The part of the negative financial result from the sale, which can be taken into account for tax purposes of the current period, is shown in line 090. The amount of accrued compensation for depreciation on the sold fixed asset is recorded in page 280 of the second appendix.

Example

In August 2012, IKS CJSC sold fixed assets for 59 thousand rubles. (including 9 thousand rubles - VAT). This property was registered at the initial cost of 120 thousand rubles with a depreciation period of 8 years (96 months). The entity uses an accrual basis for the transaction and a straight-line basis for depreciation. The amount of monthly compensation for depreciation is 1.25 thousand rubles. Actual term of use - 38 months, accumulated depreciation - 47.5 thousand rubles. The amount of sales costs - 1.18 thousand rubles. VAT included.

A loss in the amount of 23.5 thousand rubles, which is displayed in line 200, is then evenly (405 rubles) written off monthly over 58 months (96-38 months). The first part is indicated in the report for September 2012 in line 090. Documents confirming the loss from the sale of fixed assets must be kept until, when it reduces the tax base of the NPP.

Reflection of the financial result in the BU

According to clause 7 of PBU, funds from the sale of fixed assets are recognized in the BU as operating income. The costs associated with the sale of these items are recognized as an expense. These amounts in BU are accounted for in full in the current month. Thus, the first difference from OU is that losses are written off immediately, and not in parts. Therefore, a deductible temporary difference arises from which a deferred tax asset is generated. In the future, he will reduce the amount of NPP payable to the budget.

Example

Let's supplement the data of the first example. In August 2012, the company's accountant must report the loss on sales. Wiring:

DT 91-2 KR 60 - 1 thousand rubles. - payment for the services of another organization;
DT 19 KR 60 - 180 rubles. - VAT reflection;
DT 62 KR 91-1 - 59 thousand rubles. - operating income from the sale;
DT 91-2 KR 68 - 9 thousand rubles - VAT charged;
DT 01-2 KR 01-1 - 120 thousand rubles - the initial cost was written off;
DT 02 KR 01-2 - 47.5 thousand rubles. - depreciation has been written off for the period of use;
DT 91-2 KR 01-2 - 72.5 thousand rubles - the residual value is included in the expenses;
DT 09 KR 68 - 6.64 thousand rubles (23.5 thousand rubles x 24%) - a tax asset.

Over the next 56 months. the BU will write off the loss from sales. Wiring:

DT 68 KR 09 - 97.24 rubles. (5640 rubles \ 58 months).

Sale of goods at a loss

The implementation of the GP takes place under the terms of the contract. The product is considered sold when the buyer has title. This procedure is established in clause 1 of Art. 223 of the Civil Code of the Russian Federation. Unless otherwise stated in the contract, then it arises at the time of transfer of products to the buyer. After shipment, the organization must calculate the financial result of the transaction. For these purposes, the BU provides a special profit and loss account "90". It reflects the amount of sales expenses on DT, and on the loan - sales income. The financial result for the current period is calculated on the basis of these sub-accounts:

Turnover КР 90-1 - Turnover ДТ.90-2,3,4 = Profit \ loss from sales.

The transaction that records a positive financial result:

DT 90-9 KR 99 - Profit.

DT 99 KR 90-9 is the opposite of the previous one).

Sub-accounts are closed at the end of the year with internal records when the balance sheet is restructured.

In the BU, revenue is recognized as income if:

The right to receive money is confirmed by the contract;

The amount of income can be calculated;

As a result of the operation, the agronomic benefits of the organization will increase;

The buyer now has ownership.

If at least one of these conditions is not met, then revenue cannot be recognized, such goods must be accounted for under DT account 45.

Accounting for SOE implementation

The sales profit / loss transaction is generated after all expenses related to the sale of the SO have been taken into account.

Submission of reports

For a more detailed examination of the financial results of the company's activities, in addition to the balance sheet, a profit and loss statement is also submitted. It details all the income and expenses of the current period.

Line 010 displays revenue from This displays amounts from ordinary activities. If for any of them the revenue exceeds 5% of the total, then it is detailed in 011-013. The Profit and Loss Statement is built on an accrual basis. That is, revenue is recognized as such when the goods are shipped to the customer. But often in the contracts it is spelled out that the right of ownership passes after the payment of the goods. In such cases, revenue is included in the income statement at the date the money is credited.

The profit and loss statement displays not only the sources of funds, but also the costs associated with the sale of goods and services. In particular, lines 030 and 040 display the amount of commercial and sales. Next, the interest received on deposits and bonds (060) and those that are payable to the bank (070), the share in the participation of other OA (080), other operating (090, 100) and non-operating (110, 120) income and expenses ...

Other income includes:

• proceeds from the sale of temporary property by third parties;
• profits from joint activities of several organizations;
• interest on deposits and loans granted;
• income from patents;
• proceeds from the sale of assets;
• fines, penalties and interest received for the current period;
• other unaccounted for income.

Other expenses (100) include expenses for:

• asset creation;

• introduction of patents;
• write-off of company funds;
• interest on loans
• incurred fines, penalties and interest;
• brokerage services;
• loss of a block of securities in assets;
• charity;
• maintenance of frozen assets;
• cancellation of transactions;
• emergency expenses;
• other unaccounted for expenses.

The difference between all receipts and costs is displayed on line 140 "Profit / loss before tax". After deducting NPP (150) and other obligatory payments (150), the financial result from ordinary activities is calculated (160). If there were no extraordinary receipts or expenses in the current period, then the same amount is displayed in the article "PE / CHU" (190). This is how the "Profit and Loss Statement" is drawn up.

Reference data

This section is completed if the firm has tax assets (HA) or liabilities (BUT).

On line 150, the company should indicate the amount of permanently available DOs, for example, travel allowances, compensation for the operation of personal transport, etc. That is, this line indicates incomes that are accounted for in the BU, but are not subject to GMP.

Financial result per share - the balance between the enterprise's private equity and dividends. To calculate the weighted average number of outstanding shares, add the number at the beginning of each month and then divide by 12.

If these securities are placed at a price lower than the market price, then it is necessary to carry out the following calculation:

Average share price = (A1 + A2) / CA

A1 - the share price by the end of the placement multiplied by their number;

A2 - proceeds from the sale of securities at a reduced cost;

CA - the number of shares in circulation.

Diluted financial result

This operation will reveal how much profit can be increased from one central bank if:

Change preferred shares to common ones;

Try to buy back the shares at a price below the market price.

To correctly calculate future profit, you need to determine the income and expenses associated with a change in status or a decrease in value. Such income includes the difference between the market and actual price of a share and interest income. Expenses include compensation to shareholders, reorganization fees.

Summary

It is possible to sell goods at a price below the cost price, but this should be desired very carefully. As a result of such an operation, there will certainly be a difference in the financial results in OU and BU. In the first case, the amount of the loss is written off in installments. And in the second - right away.

Fin. the result is formed on the active-passive account 99 "Profits and losses", which has a one-sided balance. During the year, on an accrual basis, losses and losses are recorded on the debit of account 99, and on the credit - profits and incomes. By comparing the debit and credit turnovers, the final financial result of the organization's activities for the reporting period is determined. Credit balance means profit, debit balance means loss.

The final financial result (net profit or net loss) is added during the year on account 99 from: profit or loss from ordinary activities; other income and expenses; losses, expenses and income due to extraordinary circumstances of economic activity; accrued payments of income tax and payments for recalculations for this tax based on actual profit, as well as the amount of tax sanctions due.

The main part of the profit (loss) of the organization receives from the sale of finished products, goods, works, services. The financial result from their sale is determined as the difference between the proceeds from the sale of products (works, services) excluding VAT, excise taxes, export duties, sales tax and other deductions and the costs of its production and sale.

The result from the sale of products, works, services and goods is identified on the active-passive account 90 "Sales". The debit of this account shall reflect the actual cost of goods sold, the purchase price of goods sold, expenses related to work performed and services rendered, VAT, sales tax and other expenses. On the credit of account 90, proceeds from the sale of products, goods, works and services are posted. Comparing the turnover of debit and credit of account 90, they find the result (in the form of profit or loss), which is monthly. write off from account 90 to account 99 "Profit and loss".

Upon receipt of profit: D90 K99; loss - D99 K90. Account 90 is closed and has no balance.

13. Determination of the financial result from the write-off and sale of property (fixed assets, materials, etc.).

Account 91 also reflects the results from the sale and other disposal as part of other income and expenses: fixed assets; intangible assets; materials; other property of the organization (except for finished products and goods).

The amount of money that you must receive from buyers for the fixed assets, intangible assets and other property of your organization sold to them, you must reflect on the credit of subaccount 91-1: Debit 62 (76) Credit 91-1- income from the sale of property is taken into account. At the same time, the residual value of sold fixed assets, intangible assets, as well as the actual cost of other property transferred to buyers, you must write off to the debit of subaccount 91-2: Debit 91-2 Credit 01 (04, 03, 10, 58, ...) - the residual value of the property sold was written off. Proceeds from the sale of the organization's property (excluding securities) are subject to VAT. You should charge VAT on proceeds from the sale by posting: Debit 91-2 Credit 68 subaccount "Calculations for VAT" - VAT is charged on proceeds from the sale of property. All costs associated with the sale of property, you must also reflect on the debit of subaccount 91-2: Debit 91-2 Credit 20 (23, 25, ...) - costs associated with the sale of property are taken into account.

Analysis of financial results from the sale, disposal and other write-off of property (fixed assets and other assets) involves considering these transactions from the point of view of the correct assessment of the property, determining the costs associated with its disposal, and comparing them with income from possible sale. The calculation of profit from the sale of fixed assets and other property of the enterprise, as well as profit from non-sales transactions, are presented in Fig.

Calculation of profit from the sale of fixed assets of property and from non-sale transactions.

It is advisable to compare the income from disposal of the property with the income that the organization can receive if it continues to operate or is provided for temporary use.

The sale of unused property is definitely effective.

Income (loss) from the sale of property is projected taking into account the time factor: income from the sale minus the discounted income from the possible operation of the equipment.

Each type of sale of other assets (raw materials, materials, etc.) has its own specifics, which must be taken into account when analyzing.

Particular attention should be paid to the implementation of redundant materials. This is necessary to identify excess stocks that lead to a slowdown in their turnover.

When analyzing rental income, it is necessary to compare them with the costs of maintaining the leased property.

Financial results – the final economic result of the economic activity of the enterprise is expressed in the form of profit (income) or loss.

Balance sheet profit (loss) – consists of the profit (loss) from the sale, due to the receipt of interest less payable, due to the receipt of income on shares and from participation in joint activities, other income less other expenses.

Profit (loss) from sales is determined on account 90 "Sales" and written off to account 99 "Profits and losses".

Active-passive account 90 "Sales" is intended to summarize information on income and expenses associated with the ordinary activities of the organization, as well as to determine the financial result of them.

Subaccount 90-1 "Revenue" records receipts of assets recognized as revenue.

Subaccount 90-2 "Cost of sales" takes into account the cost of sales for which the revenue is recognized.

Subaccount 90-3 "Value added tax" takes into account the amount of value added tax due to be received from the buyer (customer).

Subaccount 90-9 "Profit / loss from sales" is designed to identify the financial result (profit or loss) from sales for the reporting month.

Entries on sub-accounts 90-1, 90-2, 90-3, 90-4 "Excise" are made cumulatively during the reporting year. Monthly comparison of the aggregate debit turnover for sub-accounts 90-2, 90-3, 90-4 and credit turnover for sub-account 90-1 determines the financial result (profit or loss) from sales for the reporting month. This financial result is debited on a monthly basis (by final turnovers) from sub-account 90-9 to account 99 “Profits and losses”. Thus, the synthetic account 90 does not have a balance at the reporting date.

At the end of the reporting year, all sub-accounts opened to account 90 “Sales” (except for sub-account 90-9) are closed by internal records to sub-account 90-9 “Profit / loss from sales”.

Analytical accounting for account 90 is organized for each type of goods sold, products, work performed, services rendered, etc. In addition, analytical accounting can be kept by sales regions and other areas necessary to manage the organization.

The sphere of entrepreneurial activity is the sale of goods, products, the performance of work, the provision of services, and income from this activity is recognized as proceeds from the sale of products and goods, receipts related to the performance of work, the provision of services, i.e. income from ordinary activities.

In particular, these are sales proceeds:

1. Finished products and semi-finished products of our own production.

2. Works and services of an industrial and non-industrial nature.

3. Purchased items (purchased for picking).

4. Construction, assembly, design and survey, exploration, R&D.

5. Goods.

6. Services for the carriage of goods and passengers, communication services.

7. Transport and forwarding and loading and unloading operations.

For certain types of transactions, organizations can independently determine whether receipts from them are revenue or they are related to other receipts. These types of transactions include:

§ provision by organizations for a fee for temporary use (temporary possession and use) of their assets under a lease agreement;

§ granting for a fee the rights arising from patents for inventions, industrial designs and other types of intellectual property;

§ participation in the authorized capital of other organizations.

The amount of proceeds from the sale of goods, products, performance of work, provision of services, etc. is reflected in the accounting at the time of its recognition.

Revenue is recognized in accounting if the following conditions are met:

a) the company has the right to receive this proceeds arising from a specific contract or otherwise confirmed accordingly;

b) the amount of revenue can be determined;

c) there is confidence that as a result of a particular transaction there will be an increase in the economic benefits of the enterprise (this confidence exists in the case when the enterprise received an asset in payment or there is no uncertainty about the receipt of the asset);

d) the right of ownership (possession, use and disposal) to the product (goods) has passed from the enterprise to the buyer or the work is accepted by the customer (the service is provided);

e) the costs that are or will be incurred in connection with this operation can be determined.

If at least one of the above conditions has not been fulfilled with respect to cash and other assets received in payment, then the accounts payable are recognized, and not the proceeds.

At the time of recognition of revenue, the following entries are made in accounting:

The amount of the cost of goods, products, works, services sold related to the recognized amount of revenue is written off:

D 90 K 20, 23, 41, 43, 45.

In the event that, in accordance with the accounting policy, expenses of an administrative and commercial nature are recognized in the cost of goods, goods, works, services sold in full in the reporting year of their recognition as expenses for ordinary activities, they are to be written off as conditionally permanent:

D 90 K 26, 44.

At the same time, the accounting reflects the amount of taxes and fees, the obligation to pay which arises from the enterprise at the time of recognition of sales proceeds (VAT, excise taxes).