Ekaterina Annenkova, an auditor certified by the Ministry of Finance of the Russian Federation, an expert in accounting and taxation at Clerk.Ru news agency. Photo by B. Maltsev IA Clerk.Ru
In accordance with the Order of the Ministry of Finance of the Russian Federation dated 06.07.1999 No. No. 43n “On approval of the Accounting Regulations”, the financial statements consist of:
- balance sheet,
- statement of financial results,
- applications for them
- explanatory note,
- as well as an auditor's report confirming the reliability of the organization's financial statements, if it is subject to mandatory audit in accordance with federal laws.
An explanatory note to the annual financial statements must contain significant information:
- about the organization
- her financial situation,
- comparability of data for the reporting and previous years,
- valuation methods and material items of financial statements.
Otherwise, non-application of accounting rules is considered as an evasion from their implementation and is recognized as a violation of the legislation of the Russian Federation on accounting.
In addition to material information, an organization may provide additional information accompanying financial statements, if it considers it useful for interested users in making economic decisions (clause 39 PBU 4/99).
It reveals:
- dynamics of the most important economic and financial indicators of the organization's activities over a number of years;
- planned development of the organization;
- prospective capital and long-term financial investments;
- borrowing policy, risk management;
- activities of the organization in the field of research and development work;
- environmental protection measures;
- other information.
Guided by the requirements of the current legislation, we will draw up an explanatory note to the annual financial statements of Romashka LLC for 2013.
EXPLANATORY NOTE
to the annual financial statements for 2013 LLC firm "ROMASHKA"
1. Basic information about the organization.
Limited Liability Company Firm "ROMASHKA", legal and actual address: 117417, Moscow, Ivanovskaya st., house number 77, building 7.
PSRN: 1077077077077.
TIN: 7770077700.
Gearbox: 770701001.
Registered in the Federal Tax Service of Russia No. 07 for Moscow on 07/07/2007. certificate 77 No. 007770077.
The financial statements of the Company are formed on the basis of the rules of accounting and reporting in force in the Russian Federation.
The number of employees at the end of the reporting period amounted to 177 people.
In 2013 there was an increase in the authorized capital:
- Due to retained earnings of previous years in accordance with Minutes No. 1 of 04/07/2013 in the amount of 3 000 000 rub.
- Due to the contribution of the founder to the authorized capital of the LLC in accordance with Protocol No. 2 dated 07/07/2013 in the amount 50 000 rub.
The main activities of the Company are the production and wholesale of building materials.
Production and financial activities were carried out by the Company throughout the entire period of 2013 and were aimed at generating income in the reporting and subsequent periods.
Materiality level fixed by the Company in the accounting policy for accounting purposes is 15% from the relevant item in the financial statements.
2. Proceeds (income) from sales.
Revenue from the performance of work, the provision of services, the sale of products with a long production cycle is recognized when ready works, services, products ().
Sales revenue in 2013 amounted to 6 000 000 rub. (without VAT):
Revenues from sales for the previous reporting periods amounted to (without VAT):
- year 2012 - 5 000 000 rub.;
- 2011 - 4 500 000 rub.;
- 2010 - 3 000 000 rub.;
- year 2009 - 2 500 000 rub.
3. Costs associated with the implementation.
Management expenses accounted for in the debit of account 26 "General expenses" at the end of the reporting period are not distributed among the objects of calculation and are written off as conditionally fixed directly to the debit of account 90 "Sales of products (works, services)" with distribution between product groups in proportion to the specific the weight of sales proceeds.
Recognized in the cost of sold products, goods, works, services in full in the reporting year of their recognition as expenses for ordinary activities (clause 9 PBU 10/99 "Expenses of the organization").
The costs associated with the implementation in 2013 amounted to 5 160 000 rub. (without VAT):
For the purposes of tax accounting, the amount of expenses associated with the sale amounted to 4 840 000 rub.
The resulting difference in accounting for production and management expenses for the purposes of accounting and tax accounting was formed in connection with the use of PBU for determining expenses in accounting and the provisions of the Tax Code for accounting for expenses for tax purposes.
320 000 rub. made up of a temporary difference in the amount 170 000 rub. and permanent differences in the amount 150 000 rub. in the following way:
1.Time difference in size 170 000 rub. was formed due to differences in accounting for depreciation of fixed assets for tax and accounting purposes.
2.Permanent differences in size 150 000 rub. (100,000 + 50,000) consist of expenses not accepted for NU purposes, namely:
- 100 000 rub. fixed assets depreciation not accepted for NU purposes;
- 50 000 rub. health insurance costs in excess of the norm.
- year 2012 - 4 600 000 rub.;
- 2011 - 4 000 000 rub.;
- 2010 - 2 650 000 rub.;
- year 2009 - 2 100 000 rub.
4. Financial result obtained from the main activities
The financial result obtained from the main activities in 2013 amounted to 840 000 rub. ( 6 000 000 - 5 160 000 ).
For the purposes of tax accounting, the amount of profit from sales amounted to 1 160 000 rub. ( 6 000 000 - 4 840 000 ).
In addition, the main activity does not reflect the results of the sale of a large batch of finished products, due to the delay in the transfer of the batch of goods to the buyer LLC "LUTIK" and the signing of the consignment note TORG-12.
The sale of goods took place in the 1st quarter of 2014. All production work was completed in the 4th quarter of 2013.
Finished products are reflected on account 43 "Finished products" in the amount of actual costs for its manufacture - 450 000 rub.
The amount of proceeds from the sale of this batch of products of own production is 750 000 rub.
The amount of profit (before tax) on this project will be 300 000 rub.
5. Other income.
The amount of other income for accounting purposes in 2013 amounted to 1 170 000 rub.
For the purposes of tax accounting, the amount of non-operating income amounted to 1 100 000 rubles, the amount of income from the sale of fixed assets amounted to 20 000 rub. Total amount of income accepted for tax accounting purposes - 1 120 000 rub.
The resulting difference in the accounting of other income for the purposes of accounting and non-operating income for the purposes of tax accounting was formed in connection with the application of PBU to determine the amount of other income in accounting and the provisions of the Tax Code - to account for income for tax purposes.
The amount of the difference between BU and NU in the amount 50 000 rub. represents a constant difference, which consists of the amount of the contribution of the founder, who owns 100% of the shares, to the authorized capital of the LLC.
6. Other expenses.
The amount of other expenses for accounting purposes in 2013 amounted to 1 540 000 rub.
For the purposes of tax accounting, the amount of non-operating expenses amounted to 630 000 rub., the amount of expenses associated with the implementation of fixed assets - 15 000 rub. Total amount of expenses accepted for tax accounting purposes - 645 000 rub.
The resulting difference in accounting for other expenses for the purposes of accounting and non-operating expenses for the purposes of tax accounting was formed in connection with the application of PBU to determine the amount of other expenses in accounting and the provisions of the Tax Code - for accounting for expenses for tax purposes.
The amount of the difference between BU and NU in the amount 895 000 rub. is a permanent difference, which is formed from the following expenses not accepted for NU purposes:
- 150 000 rub. interest on bank loans exceeding the maximum amount accepted for the purposes of NU in accordance with Article 269 of the Tax Code of the Russian Federation;
- 300 000 rub. losses for 2012 related to the previous tax period, not taken into account in the current tax period;
- 420 000 rub. bonuses from net profit and material assistance to employees of the organization;
- 20 000 rub. fines and penalties under the act of the on-site inspection of the PFR and the FSS dated July 27, 2013 No. 7770077;
- 5 000 rub. other expenses (including depreciation of fixed assets for non-production purposes, purchase of drinking water and other expenses not taken into account for NU purposes).
This loan was provided to the Company by Vozrozhdenie Bank to replenish working capital, in accordance with the loan agreement dated June 15, 2013. No. 01234567.
The amount of the loan, according to the agreement, is 5 000 000 rub. and fully received by the Company in June 2013.
The maturity date for the principal amount of the debt under the loan agreement is July 1, 2017. Interest is repaid monthly.
7. Income tax calculations.
The Company forms in the accounting records and discloses in the financial statements information on corporate income tax calculations in accordance with the requirements of PBU 18/02 “Accounting for corporate income tax calculations”.
Profit for income tax purposes in accordance with the data of tax accounting registers and tax return data amounted to 1 635 000 rub.
The income tax rate in 2013 was 20%. The amount of accrued income tax according to the tax return for 2013 amounted to 327 000 rub.
The amount of accounting profit according to the accounting registers amounted to 470 000 rub.
The amount of the conditional expense reflected in the accounting records in the debit of account 99.02.1 “Conditional income tax expense” amounted to 94 000 rub. (470,000*20%).
The amount of deferred tax assets (hereinafter DTA) at the beginning of 2013 was 50 000 rub. During 2013, there was an increase in IT by the amount 34 000 rub. due to the occurrence of a temporary difference (in terms of depreciation of fixed assets) in the amount of 170 000 rub. (170,000*20% = 34,000).
The amount of permanent tax assets (hereinafter PTA) was in 2013 10 000 rub. PNA arose due to a permanent difference in the amount of the contribution of the founder who owns 100% of the shares in the LLC in the Company's management company in the accounting records in the amount of 50 000 rub.
The amount of permanent tax liabilities (hereinafter referred to as TTL) in 2013 amounted to 209 000 rub. PNR arose due to permanent differences in the amount 1 045 000 rub. ((100,000 + 50,000 + 150,000 + 300,000 + 420,000 + 20,000 + 5,000)*20% = 209,000).
The current corporate income tax calculated in accordance with the provisions of PBU 18/02 is 327 000 rub. ( 94 000 + 34 000 + 209 000 - 10 000 )* and corresponds to the data of the tax return for 2013.
*Current corporate income tax = conditional expense + Accrued IT + PNO - PNA.
8. Financial result of economic activity
The financial result obtained in 2013 amounted to 177 000 rub. ( 470 000 - 327 000 + 34 000 ).
The financial result of the enterprise in 2013 was affected by the expenses incurred and written off to the financial result:
- managerial,
- commercial,
- others,
9. Information about the accounting policy of the organization
The regulation on the accounting policy applied by the Company is drawn up in accordance with the provisions of Federal Law No. 402-FZ dated 06.12.2011. “On Accounting” and the requirements of PBU 1/2008 “Accounting Policy of the Organization” and other current provisions, guidelines, instructions.
The accounting policy of the Company was approved by Order No. UP dated December 30, 2012.
The initial cost of the fixed assets of the Company is repaid:
- in a linear way according to depreciation rates established depending on the useful life of fixed assets in accordance with the Classification of fixed assets, approved by the Decree of the Government of the Russian Federation of 01.01.2002. No. 1.
- the useful life is reduced by the number of years (months) of operation of this property by the previous owner.
- as part of inventories and are written off as expenses as they are put into operation.
Fixed asset repair costs:
- are included in the cost of products (works, services) of the reporting period.
- 1 time in 3 years.
Society creates reserve under the reduction of the cost of inventory through financial results.
The reserve for the decrease in the cost of inventory is formed:
- by the amount of the difference between the current market value and the actual cost, if the latter is higher than the current market value.
- The amount of the reserve in the absence of asset movement:
- during the year - 50% of the book value,
- over a year - 100% of the book value.
- in a linear way.
- written off at the same time.
The allowance for doubtful debts is:
- 100%, if a court decision is made not in favor of the Company, or on bankruptcy/liquidation of the debtor.
- 100%, if all attempts made to search for the debtor were unsuccessful.
- 50% if it was not possible to avoid pre-trial settlement and the case was brought to court.
- 50% if the period of delay of the debt exceeds 3 months and the debtor does not sign the act of reconciliation of mutual settlements / does not agree with the amount of the debt.
- 30%, if the period of delay of the debt exceeds 3 months and the debtor signed the act of reconciliation of mutual settlements and agrees with the amount of the debt.
- as soon as the work, service, product () is ready.
Unfinished production takes into account:
- on account 20 "Main production" in the amount of the actual cost. Account 21 "Semi-finished products of own production" does not apply.
- The actual cost of raw materials, materials used in the production of goods (performance of work, provision of services) and forming their basis, or being a necessary component in the production of goods (performance of work, provision of services);
- The cost of finished products used in production;
- General production expenses.
TO overhead expenses related to the production and sale of goods of own production, as well as the performance of work and the provision of services include:
- The actual cost of raw materials and materials used for general production purposes;
- Depreciation deductions for fixed assets for production and general production purposes;
- Depreciation deductions for intangible assets for production and general production purposes;
- The cost of purchased goods and finished products used in production;
- Expenses for work and services of third-party organizations of a production and general production nature;
- Labor costs of the main production personnel with deductions for insurance premiums;
- Deferred expenses in the part related to general production expenses.
- proceeds from the sale of products (works, services).
- are not distributed among the objects of calculation and are debited directly to the debit of account 90 “Sales of products (works, services)” as conditionally constant with distribution between product groups in proportion to the share of sales proceeds.
- fully in the reporting year of their recognition as expenses for ordinary activities ().
- based on the cost of their acquisition. Transportation costs for the delivery of goods are recorded separately on account 44 "Sales costs".
Costs incurred by the organization in the reporting period, but related to the next reporting periods are reflected in the balance sheet:
- in accordance with the conditions for the recognition of assets established by regulatory legal acts on accounting, and are subject to write-off in the manner established for writing off the value of assets of this type (clause 65 of the Regulations on Accounting and Reporting).
Non-exclusive rights for software products and other similar intangible objects that are not intangible assets in accordance with:
- are accounted for on account 97 “Deferred expenses” and written off to expenses on a monthly basis in equal installments during the term of the contract (paragraph 39 PBU 14/2007).
Reserves for future expenses for the payment of vacation pay are recognized as an estimated liability and are reflected in the account of reserves for future expenses. The amount of the estimated liability is included in other expenses. The amount of the estimated liability is determined on the basis of the entire amount of vacation pay due, but not taken off by employees on the reporting date (clauses 17, 18, 19 of PBU "Estimated Liabilities, Contingent Liabilities and Contingent Assets").
Reserves for future expenses and payments in 2013, the creation of which is not mandatory in accordance with the current legislation - are not created.
Received loans and credits are accounted for as part of short-term or long-term borrowings, in accordance with the terms of the agreement, namely:
- With a maturity not exceeding 12 months, loans and borrowings are accounted for as short-term debt on loans and borrowings;
