A practical guide on the preparation of financial statements for the preparation and execution of tests, coursework and final qualifying papers. Which line shows gross profit on the balance sheet? Explanations for the balance sheet and financial statements

Gross profit on balance sheet -line 2100 - corresponds to the indicator of the financial result of the main activity of the enterprise for the reporting period. It should be clarified that this article is reflected not in Form 1, but in Form 2 - the report on financial results, which organizations provide along with the balance sheet. Let’s take a closer look at how the “Gross Profit” item is formed.

What is gross profit and how does it differ from net profit?

Gross profit is considered one of the main indicators characterizing the efficiency of an enterprise. It is calculated as the difference between:

• net revenue from the main activity,
• the cost of goods or services.

Based on the obtained value, one can indirectly judge the profitability of the enterprise. Indirectly - since the indicators taken into account do not reflect complete information.

Thus, the term “net” in relation to revenue means that it is necessary to subtract from it:

• excise taxes,
• other obligatory payments (for example, export duties).

The cost indicator is formed by:

• costs of production and provision of services;
• the purchase price of the goods sold.

Commercial and administrative expenses are not included in the cost price; they are reflected in the financial performance statement separately and participate in the formation of the net profit indicator (clause 23 of PBU 4/99).

Actually, this is the difference between gross profit and net profit. The first serves, rather, to assess production costs, pricing efficiency, and return on production, since it is formed from indicators that are directly related to production.

While net profit is the final financial result of the enterprise’s activities for the reporting period, calculated as the difference between all recognized income and expenses (including taxes and mandatory payments).

Methods for calculating gross profit and a list of items that form it can be found in the article.

Reflection of gross profit in reporting

As previously mentioned, gross profit is displayed in the financial results report, the form of which was approved by Order of the Ministry of Finance dated July 2, 2010 No. 66n, namely in line 2100.

The indicators “Revenue” and “Cost of sales” are reflected in lines 2110 and 2120, respectively.

Thus, gross profit in the report is formed according to the formula:

The amount of gross profit can be either positive or negative. In the second case, the indicator means a loss and is entered in line 2100 in parentheses without the minus sign.

The cost price must also be indicated in parentheses (the minus sign is not used).

Let's take a closer look at what data is used to form the amount of revenue and cost.

What does revenue come from?

Line 2110 includes data on income from ordinary activities, the definition of which is given in paragraphs. 5, 12 PBU 9/99. Let us remind you that this indicator is entered minus VAT amounts. This is indicated to us by approx. 5 of Appendix No. 1 to Order of the Ministry of Finance dated July 2, 2010 No. 66n, as well as the list of receipts that are not recognized as income of the enterprise, published in paragraph 3 of PBU 9/99.

Revenue is accounted for in account 90.1 separately for each type of activity. The amounts of VAT and excise taxes are displayed on accounts 90.3 and 90.4, respectively. Graphically, the formula for calculating the “Revenue” item can be presented as follows:

What is the cost formed from?

Line 2120 is formed based on data on expenses for ordinary activities described in paragraph 5 of PBU 10/99.

According to the instructions for using the Chart of Accounts, the cost of products, goods, and services is accounted for in account 90.2. Write-off of cost is recorded by posting:

Dt 90.2 Kt 20, 23, 29, 40, 41, 43, etc.

It should be taken into account that commercial and administrative costs are also accumulated in account 90.2. And they, as we know, do not form the line indicator 2120. These expense items are drawn up in correspondence with accounts 26 and 44.

Results

Gross profit represents the excess of revenue from sales and provision of services over their cost. Otherwise, the indicator indicates that the product is not profitable. Information on the amount of gross profit/loss is presented in line 2100 of the statement of financial results and is calculated as the difference between lines 2110 and 2120.

Statement of financial results (FRS) is a form included in the financial reporting block of any commercial company. This document and the principles of its preparation will be discussed in our publication.

Financial results report: form features

Being a very significant reporting form, the FRF provides users with truthful information about the financial position of the company, the results of work for the period under review, allowing them to develop the most promising business strategy or make other necessary economic decisions. A report is generated, like other forms of accounting, in particular, a balance sheet, for the calendar year.

Filling out the financial results report is carried out on the basis of the rules dictated by the regulatory documents governing its preparation - Regulations on accounting, approved. by order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n, PBU 4/99, law dated December 6, 2011 No. 402-FZ “On Accounting”.

The information is entered into the form according to OKUD 0710002, approved by Order of the Ministry of Finance dated 04/06/2015 No. 57n. It records all the data on the company’s income and expenses, displays the results of the year’s work, and provides the opportunity to conduct an initial comparative analysis for each line of the report, since along with the current year’s data, the form reflects information for the previous year.

The legislator allows companies to add the necessary lines if required, for example, by the specifics of production, but they cannot exclude existing ones from the form. The report is filled out in Russian, the units of measurement are thousands of rubles. no decimal places, but large companies with large turnover are allowed to operate in units of millions of rubles.

Negative or subtracted row values ​​in the OFR are placed in parentheses for ease of calculation. The basis for filling out the financial results report is the information accumulated in the balance sheet for the accounting accounts.

Income Statement: Breakdown of Lines

Generate OFR lines:

• 2110, which indicates the amount of revenue from the sale of inventory items/services/work related to core activities. Line 2110 of the financial results report is equal to the credit turnover (Kr/vol) account. 90/1, reduced by debit turnover (D/v) of accounts 90/3 and 90/4 (VAT and excise taxes);
• 2120, which records (in parentheses) the total costs accompanying the production of goods and materials/services in ordinary activities. Line 2120 of the financial results report is equal to D/v according to the account. 90/2 (minus the amounts corresponding to accounts 44 and 26);
• 2100 informs about the amount of gross profit received. Line 2100 of the income statement = line 2110 – line 2120;
• 2210, where commercial costs are accumulated, i.e. those associated with the sales process. Line 2210 of the financial results statement is defined as D/v by account. 90/2 from credit account. 44;

• line 2220 of the financial results report accumulates management costs and corresponds to D/v according to the account. 90/2, corresponding to the account. 26;
• 2200 of the financial results report records the result of sales, calculated arithmetically: line 2220 = line 2100 - line 2210 - line 2220;

• 2310, where the total of other income is recorded if the company took part in the management capital of other companies or received dividends distributed in its favor. The value of line 2310 corresponds to the amount of Kr/v per account. 91/1, reflected in the analysis of income from participation in the management company of third-party companies;
• Line 2320 records the amount of income from interest on assets provided for use, or upon receipt of a discount on securities. Line 2320 of the financial results report is equal to Kr/v according to the account. 91/1 on analytical information about interest received;
• Line 2330 of the income statement reflects other expenses, which includes interest paid for the year on all loans and discounts. The indicator in it corresponds to D/v according to the account. 91/2 within the framework of analytics on interest paid;
• 2340 reflects other income not included in the listed lines. The value of line 2340 of the financial results statement is found using the formula:

Page 2340 = Kr/v 91/1 – line 2310 – line 2320 – D/v 91/2 with account 68 (VAT, excise taxes);

• 2350, which contains information about other costs not listed above. Line 2350 of the income statement is calculated as follows:

line 2350 = D/rev 91/2 – line 2330;

• 2300 “Profit before tax” is formed in the report by summing up to the data in line 2200 all other income received (lines 2310, 2320, 2340), reduced by the amount of other expenses incurred (lines 2330, 2350)

You can check the correctness of the calculation using the formula: line 2300 = line 2200 + D/v account. 91 in correspondence with account. 99 – Kr/v account. 91, corresponding to the account. 99;

• Line 2410 of the income statement is equal to the amount of declared tax in line 180 of the income tax return. If the company pays another tax while working on the simplified tax system, then line 2410 is crossed out and the tax amount is entered in line 2460;

• Firms applying PBU 18/02 show in line 2421 the amount of the balance of permanent tax assets/liabilities accumulated for the year:

Page 2421 = D/account balance. 99/PNA – Kr/balance on account 99/PNA

A positive result is indicated in parentheses, a negative result without them;

• Line 2430 of the income statement reflects the change in deferred tax liabilities and is calculated as the difference between Kr/v and D/v according to the account. 77. The resulting positive result is written in parentheses, the negative result – without them;
• Line 2450 of the income statement records the change in deferred tax assets and is calculated as the difference between D/rev and Cr/rev according to the account. 09. A positive result is written in parentheses, a negative result – without parentheses;
• Line 2460 reflects other information about indicators not listed above, but having an impact on the profit margin. For example, the differences before the reformation of the balance between the turnover on the account. 99, taxes of enterprises operating on UTII and simplified tax system;
• Line 2400 of the income statement reports the company's profit. The value for the line is calculated by reducing the value for line 2300 by the amount of tax (line 2410) and adjusting for the lines reflecting PNO/PNA and ONO/ONA. The line indicator 2400 should be equal to the turnover according to the account. 99 in correspondence with account. 84;

• Line 2510 is filled in only if production assets were revalued. The value in the line determines the amount of increase in additional capital (Kr/v on account 83 – D/v on account 83);
• Line 2500 determines the amount of net profit (line 2400), adjusted for the results of the revaluation of property (line 2510) and for the result of other operations not included in net profit/loss (line 2520).

The reference information on basic earnings per share (pages 2900 and 2910) is filled out only by the joint stock company.

Having understood the theory of filling out the ODF, let’s move on to drawing up the document using an example.

A report on financial results, an example of which can be found on the portals of information and legal systems, is a mandatory part of the annual accounting reports submitted by companies and individual entrepreneurs operating in the Russian Federation to fiscal structures. It must be submitted no later than three months from the end of the calendar year. The form contains information about the taxpayer’s income and expenses, the economic results of his activities over the past 12 months.

The form approved by the Ministry of Finance contains information for two years: the previous one (for which the document is prepared) and the year before (retrospective data from the last submitted FPR is transferred).

To obtain information for the period before last, you need to open a report compiled for the previous reporting date and copy the data from it line by line.

To fill out the latest information, the accountant will need to refer to accounting data, namely:

• SALT according to account 90, 91, 99;
• completed income tax return for the year;
• other analytical accounting information for the past 12 months available in the enterprise’s accounting program.

If the form is being prepared by an accountant for the first time, he should be guided by an example of filling out a statement of financial results, which can be found in the public domain.

If the accountant does not have the data to fill in certain lines, they are crossed out.

Important! The FRA is mandatory for preparation by all business entities, regardless of the volume and scope of activity. Small businesses have the right to fill out a document using a simplified form.

Line 2110 of the income statement: contents

The indicated line of the form reflects the revenue of the company or individual entrepreneur for two periods: last year and the year before last. Current legislation classifies the following categories into this concept:

• income from the sale of self-made products and purchased products;
• funds received from the performance of work, provision of services within the framework of the company’s main activities;
• rent if the company specializes in renting out real estate;
• license fees (if the main direction of the company is providing third parties with rights of use);
• other income from the main area of ​​work.

Filling out a statement of financial results line by line involves preliminary calculation of indicators in compliance with established accounting rules. For revenue, they are prescribed in PBU9/99 (Article 12). Failure to meet any of the criteria means that the accountant does not have the right to classify specific receipts as income.

To calculate revenue, the contract price adjusted to the amount of all discounts provided to the client is taken as the basis. The finished figure is “cleared” of VAT.

Line 2110 of the income statement is equal to the difference between:

• turnover on the loan account. 90 (sub-account “Revenue”);
• the amount of VAT and excise taxes “wired” into income (collected in the debit of account 90 in the corresponding sub-accounts).

For different types of revenue that make up 5% or more in its total structure, the accountant enters separate lines in the financial reporting structure. For example, he can split the total indicator into income from the sale of finished products, purchased goods, provision of agency services, etc.

Line 2120 of the income statement

According to the indicated line, the company or individual entrepreneur reflects the cost, i.e. the amount of expenses for core activities included in the final price of manufactured products, services provided, etc.

The cost includes expenses for the purchase of goods for resale, for the production of own products, performance of work, preparation of real estate for rental, if this area is recognized as the main one for the business entity, etc.

To fill out this line of the financial results statement, it is accepted as a rule that expenses are determined based on the price of the contract with the supplier (contractor), reduced by the totality of the discounts provided.

According to PBU 10/99, expenses are recognized according to the following rules:

• They are taken into account in connection with the receipt of income.
• If expenses determine the receipts of several periods, the accountant needs to reasonably break them down.
• For companies maintaining simplified accounting, the date of debt repayment is recognized as the moment of recognition of expenses.

Line 2120 of the financial results report is equal to the amount of turnover in the debit of the account. 90 in correspondence with cost accounts (20, 23, 29, 41, etc.). The accountant does not need to take into account the amounts corresponding to the account. 16 and 44. Other lines of the form are provided for them.

Costs for various areas of core activity, amounting to more than 5% of the total value, are broken down into separate lines of the general financial structure. For example, an accountant highlights the value for the production of products, the provision of intermediary services, the preparation of offices for renting, etc.

Line 2100 of the income statement

The line is intended to reflect gross profit, i.e. the financial result of the activities of a business entity formed before taxation and calculated without subtracting administrative and commercial expenses (accounts 26 and 44).

To find the desired value, you need to use the formula: subtract cost from total income: 2110 - 2120.

If the calculations give a negative result (the company suffered losses in the past year), it is shown in parentheses.

Line 2210 of the income statement

This line is intended to reflect business expenses incurred by the business entity over the past 12 months. The latter include:

• commissions paid to intermediary companies in the distribution chain;
• expenses associated with packaging products for sale;
• costs of delivering goods to retail outlets;
• remuneration of sellers “on the spot”;
• funds aimed at carrying out marketing campaigns;
• expenses associated with negotiations regarding the sale of goods, etc.

To determine the number to indicate in the OFR, you need to look at the amount of debit turnover on the account. 90 in correspondence with account. 44. The resulting value is written in parentheses.

Line 2220 of the income statement

Designed to reflect management expenses that are collected on the account. 26. These include:

• remuneration of managers and other personnel not directly related to the production process;
• consulting costs;
• office rental;
• depreciation of office space;
• acquisition of information, legal services, etc.

The listed types of expenses have a common characteristic - they are related to the management of the company and are required for its normal functioning as a business entity.

To determine the number to be indicated in the ODF, you need to build a “turnover” according to the account. 90 in correspondence with account. 26. The amount collected in the debit will turn out to be the desired value. It must be written in the reporting form in parentheses.

Line 2200 of the income statement

This line is intended to reflect income (financial losses) from sales. To find the desired value, you need to subtract two indicators from the gross profit (its calculation is discussed above):

• value according to page 2210;
• total on page 2220.

There are two possible results. A positive indicator demonstrates that the company's sales in the past year were profitable. Negative indicates the presence of losses; it is indicated in brackets.

What is indicated in line 2310?

Instructions for filling out a statement of financial results state that this line is intended to reflect income from participation in other commercial entities. Such income includes:

• dividend payments in favor of company participants;
• receipts of property or cash after the closure of business structures, the capital of which (in whole or in part) belonged to the company.

Current instructions stipulate that dividends should be taken into account minus personal income tax, which was sent to the budget by the company that paid the income.

Important! If participation in the capital of other legal entities is the main direction of the company’s work, income from it is reflected on line 2110, and in 2310 a dash is added.

To find the amount to indicate in the line, you need to take the amount collected in the debit of the account. 91 for a subaccount intended to reflect income from contributions to the authorized capital of other legal entities.

Line 2320 of the income statement

This line is intended to reflect the amount of interest received. The current PBUs in this category include:

• %% of previously issued loans;
• %% of securities;
• income from placing bank deposits;
• %% of commercial loans issued to counterparties.

Important! When reflecting %% in accounting, the accountant should focus on the terms of the agreement with the counterparty.

The amount of interest received for the past period is collected in the credit account. 91 on a subaccount intended for their analytical accounting.

Line 2330 of the income statement

This is the line where the interest paid by the business entity during the year is indicated. It shows:

• %% on loans taken out (both short-term and long-term);
• discount on debt securities.

The desired value can be seen in the debit of the 91st account, in the subaccount intended to reflect paid %%. The number is indicated in the OFR in parentheses.

Line 2340 of the income statement

These are other income of the business entity. This category is formed from the following elements:

• proceeds from the rental of premises;
• receipts for the provision of licenses;
• income from the sale of fixed assets and intangible assets;
• fines and penalties received from counterparties;
• positive exchange rate differences;
• income from previous periods reflected in accounting for the past year, etc.

The required value is the “balance” of the account loan. 91, not included in the previous categories and reduced by the amount of VAT and excise taxes paid.

Line 2350 of the income statement

These are other expenses of the organization not mentioned in the previous categories. These include:

• expenses caused by disposal of fixed assets and intangible assets;
• expenses for preparing space for renting out;
• expenses associated with organizing the issuance of licenses;
• negative exchange rate differences, etc.

This is the previously “not covered” debit turnover on the 90th account, reduced by the amounts of VAT and excise taxes included in it.

Line 2300 of the income statement

This line reflects the financial result of the company's activities before taxes. The formula involves summing the values ​​of the following lines:

• 2200th;
• 2310th;
• 2320th;
• 2340th.

Indicators on two lines are subtracted from the total:

• 2330;
• 2350.

If the result is positive, the company has made a profit. A negative result demonstrates the size of the loss; it is shown in brackets.

Page 2410 income statement

This line is the income tax accrued for the year. The number to be indicated in the OFR must be taken from the finished tax return drawn up based on the results of 12 months.

If the company is on a preferential tax system, it puts a dash in the line and shows the amount of the accrued “special” tax on page 2460.

Page 2400 income statement

This is the logical result of drawing up a report - indicating the amount of net profit (loss) received by the company for the period. To get the required number, the accountant needs:

• reduce line 2300 by the amount of accrued income tax
• then add positive values ​​pp. 2430-2460 or subtract negative ones.

If the result is positive, the company made a profit, if negative, the operation in the past period brought losses. This value is indicated in parentheses.

If you find an error, please highlight a piece of text and click Ctrl+Enter.

Fragment of the Financial Results Report for 2013

Solution

Gross profit for the reporting period is 15,327 thousand rubles. (87,341 thousand rubles - 72,014 thousand rubles).

A fragment of the Income Statement in Example 6.3 will look like this.

3.2.4. Line 2210 "Business expenses"

This line reflects information on expenses for ordinary activities related to the sale of products, goods, works and services (commercial expenses of the organization) (clauses 5, 7, 21 PBU 10/99).

What expenses are included in business

Expenses for ordinary activities included in commercial activities are the following expenses related to the sale of goods, products, works and services (clause 5 of PBU 10/99, clause 13 of PBU 5/01, clause "b" clause 28 of the Regulations on accounting and financial reporting, clause 30 of the Guidelines for accounting of inventories, Instructions for the use of the Chart of Accounts):

For packaging and packaging of products in finished product warehouses;

For delivery of products to the departure station (pier);

For loading into wagons, ships, cars and other vehicles;

For commissions paid to sales and other intermediary organizations;

To pay salespeople in organizations engaged in production;

To carry out analyzes of products during their release;

For entertainment expenses;

For procurement, delivery of goods to central warehouses (bases) and transportation (dispatch) of goods (in trade organizations);

For wages in trade organizations;

For renting retail premises and finished product warehouses;

For storage and processing of goods;

For insurance of shipped goods, products and commercial risks;

To cover the shortage of goods (products) within the limits of natural loss;

Other expenses similar in purpose.

Selling expenses are monthly, in whole or in part (when distributing commercial expenses between sold and unsold products (goods)) are written off from account 44 “Sales expenses” to the debit of account 90 “Sales”, subaccount 90-2 “Cost of sales” (clause 9 of PBU 10/99, Instructions for using the Chart of Accounts). The write-off procedure is established in the accounting policy of the organization (clause 20 of PBU 10/99).

The specifics of classifying expenses as commercial and the procedure for writing them off are established by industry methodological instructions, recommendations, guidelines (clause 10 of PBU 10/99, Letter of the Ministry of Finance of Russia dated April 29, 2002 N 16-00-13/03).

FOR MORE on this issue see:

Subsection "Expenses for ordinary activities (by cost elements)" of the Guide to Information Security "Correspondence of invoices"

What accounting data is used?

when filling out line 2210 "Business expenses"

The value of the indicator in line 2210 “Business expenses” (for the reporting period) is determined on the basis of data on the total debit turnover for the reporting period on account 90, subaccount 90-2, in correspondence with account 44. The amount of commercial expenses is indicated in parentheses.

┌──────────────────────────────────┐ ┌──────────────────────────────┐

│Line 2210 “Business expenses”│ = │Turnover by debit of subaccount 90-2│

│Income statement │ │and account credit 44 │

└──────────────────────────────────┘ └──────────────────────────────┘

The indicator for line 2210 “Business expenses” (for the same reporting period of the previous year) is transferred from the Financial Results Report for the same reporting period of the previous year.

Example of filling line 2210

"Business expenses"

EXAMPLE 6.4

Indicators for subaccount 90-2 account 90 in accounting (in correspondence with account 44):

Solution

Selling expenses for the reporting period amount to 860 thousand rubles.

A fragment of the Income Statement in Example 6.4 will look like this.

3.2.5. Line 2220 "Administrative expenses"

This line reflects information on expenses for ordinary activities related to the management of the organization (clauses 5, 7, 21 PBU 10/99).

What expenses are management?

The following expenses may be included in management expenses (Instructions for using the Chart of Accounts):

Administrative and management expenses;

Depreciation charges and expenses for repairs of fixed assets for management and general economic purposes;

Rent for general business premises;

Expenses for payment of information, auditing, consulting, etc. services;

Taxes paid by the organization as a whole (property tax, transport tax, land tax, etc.);

Other expenses similar in purpose that arise in the process of managing an organization and are determined by its maintenance as a single financial and property complex.

Administrative expenses accounted for on account 26 “General business expenses”, in accordance with the accounting policy, can be monthly (clause 9, 20 PBU 10/99, Instructions for using the Chart of Accounts):

1) written off as conditionally constant in the debit of account 90 “Sales”, subaccount 90-2 “Cost of sales”;

2) be included in the cost of products, works, services (i.e. written off as a debit to accounts 20 “Main production”, 23 “Auxiliary production”, 29 “Service production and facilities”).

Attention!

General business expenses of construction organizations can be included in the cost of work under construction contracts only if their reimbursement by the customer is provided for (clause 14 of PBU 2/2008).

The specifics of including management expenses in the cost of sales are established by industry methodological instructions, recommendations, guidelines (clause 10 of PBU 10/99, Letter of the Ministry of Finance of Russia dated April 29, 2002 N 16-00-13/03).

ADDITIONALLY on this issue, see the subsection “Expenses for ordinary activities (by cost elements)” of the Guide to Information Security “Correspondence of invoices”.