ACCOUNTING OF INCOME, EXPENSES AND FINANCIAL RESULTS

WORK RECORDING AND ITS PAYMENT

The main legislative document regulating the organization of labor and its payment is the Labor Code of the Russian Federation. It establishes the basic principles of labor regulation, the rights and obligations of employees, the duration and mode of working time, rest time, options for remuneration and labor rationing, requirements for working conditions and for the organization of labor protection, guarantees, compensation, etc.

In accordance with the Labor Code of the Russian Federation, the organization independently, taking into account the opinion of the trade union body, establishes the mode of operation, the system of remuneration and incentives for workers, types of additional payments, etc. To this end, the enterprise must develop and approve the Regulation on remuneration.

Labor relations between the administration and employees are legally formalized through the conclusion of a collective agreement and individual labor contracts.

The collective agreement regulates social and labor relations in the organization,

Employment contract – an agreement between an employer and an employee, according to which the employer undertakes to provide work according to the stipulated labor function, ensure the working conditions provided for by law and the collective agreement, pay wages in a timely manner and in full, and the employee undertakes to personally perform a certain labor function, comply with the internal rules of the organization.

Individuals can work in an organization part-time, under civil law contracts (contracts, assignments, transportation, etc.).

The enterprise must be adjusted

– accounting of personnel of employees

– Accounting for the cost of living labor and its payment

Depending on the size of the enterprise, accounting for the personnel of employees can be carried out by the personnel department or the accounting department. The primary documents for accounting for the movement of personnel are orders (instructions) on hiring (form No. T-1), transfer (form No. T-5), granting vacations (form No. T-6), dismissal (form No. T-8), etc.

When hiring, each employee is assigned a personnel number and a personal card (form No. T-2) is opened containing basic data about the employee.

Based on the order for employment in the accounting department, he opens a personal account for each employee (f. No. T-54). It reflects the full name, position, salary of the employee, category, number of dependents, debt on loans and other data necessary for the full calculation of wages. A personal account is opened for a period of one year, the period of its storage is 75 years. On a monthly basis, information on the amount of accrued wages is entered into personal accounts.

The following types of payments are accrued to employees of the enterprise, which make up the wage fund:

pay for hours worked;

payment for unworked time;

one-time incentive and other payments;

The pay for hours worked includes:

wages accrued at tariff rates, salaries and piece rates for work performed;

compensation payments related to the mode of work and working conditions; payments due to regional regulation of wages; additional payments for work in harmful or dangerous conditions and heavy work; extra pay for night work; payment for work on holidays and weekends; overtime pay, etc.

stimulating additional payments and bonuses to tariff rates and salaries for high qualifications, professional skills;

bonuses and remuneration of a regular or periodic nature, regardless of the sources of their payment;

The pay for hours not worked includes:

annual, additional and study holidays;

temporary disability benefits based on sick leave;

during downtime not due to the fault of workers (downtime due to the fault of workers is not paid);

during forced absence;

breaks in the work of nursing mothers (having children under the age of one and a half years);

for the period of training of employees aimed at vocational training, advanced training or training in second professions;

Payment for time not worked is made in the amount of the employee’s average earnings for the number of days payable. The average daily earnings are calculated by dividing the wages accrued for the previous 12 months by 12 and by 29.4 (average monthly number of calendar days).

The amount of temporary disability benefits depends on the length of service (up to 5 years – 60% of average earnings, 5-8 years – 80%, from 8 years – 100%).

One-time incentive and other payments include:

one-time bonuses, regardless of the sources of their payments;

remuneration based on the results of work for the year, monetary compensation for unused vacation;

financial assistance;

payments of a social nature , which are not mandatory by law (contributions for voluntary medical insurance of employees; additional payments to pensions, lump sum benefits for retiring labor veterans; payment for vouchers for treatment, recreation, as well as excursions and travel at the expense of the organization; payment for travel to place of work; the cost of repaying loans to employees.

The following amounts are subject to withholding from the wages of employees: personal income tax, amounts for damage caused to the enterprise, amounts on writ of execution, repayment of loans issued, accountable amounts

The following accounting documents are used to register the costs of living labor and its payment.

1. Time sheet (f. No. T-12) .

2. Registration sheet of labor and work performed.

3. Book foreman on accounting of labor and work performed.

4. Calculation of the calculation of wages for livestock workers.

5. Attire for piece work.

6. Waybill of the tractor.

7. Waybill of the car.

A time sheet is kept for each employee. It reflects the hours worked and not worked.

Data from primary documents are accumulated and summarized in two directions:

1. For the calculation and payment of wages to each employee in the payroll (form No. T-49). In it, for each employee, indicate data on accrued income and deductions for their specific types for the month and the beginning of the year. The last column indicates the amount to be paid. Data from the statement is transferred to the personal account of the employee.

2. For the accumulation of cost accounting objects and the calculation of the cost of production, a statement is used for the distribution of wages and social payments. This statement reflects the accrued wages by type of production, enterprise divisions, types of products, indicating synthetic, sub-accounts and analytical accounts.

Settlements with personnel for wages are reflected in the passive account 70. The main accounting entries for this account.

1) The accrual of remuneration to employees is reflected in the following accounting entries.

D 20, 23, 29, 08 K 70 – wages were accrued to employees of the main, auxiliary and service industries, employees employed in construction.

D 25, 26 K 70 – wages were accrued to the main specialists and the administration of the enterprise.

2) Simultaneously with wages, it is necessary to accrue UST and accident insurance contributions

D 20, 23, 29, 08, 25, 26 K 69-1,2,3 – UST (26%) and contributions (from 0.2 to 8.5%).

3) Calculation of benefits for temporary disability is reflected

D 20, etc. K 70 – for the first 2 days of disability at the expense of the employer

D 69-1 K 70 – for the remaining days at the expense of the social insurance fund.

4) Reflection of deductions from wages

D 70 K 68 – personal income tax withheld – 13%

D 70 K 73-1 – withholding amounts on loans granted

D 70 K 73-2 – withholding the amount of damage caused.

D 70 K 71 – deduction of accountable amounts not returned at the time

5) Reflection of payment of wages

D 70 K 50, 51 – salary paid from the cash desk or transferred to the employee’s account

6) Issuance of wages in kind – only with the consent of the employee and in the amount of not more than 20%

D 90 K 43 – written off the cost of products sold as wages

D 70 K 90 – revenue for products sold was recognized and the debt to the employee for wages was repaid

D 90 K 68 – VAT charged on products sold

The synthetic accounting register for account 70 is the journal order No. 70.

ACCOUNTING OF INCOME, EXPENSES AND FINANCIAL RESULTS

At each enterprise, indicators characterizing the effectiveness of its activities are determined. As such indicators can be used: gross income, net income, profit.

All products obtained as a result of the production process form its gross output of the enterprise. The value of gross output is determined by the costs of living and materialized labor (C + v + m) ,

The value of gross output without materialized labor forms gross income (v + m ).

The difference between gross income and labor costs is net income.

In accounting, it is customary to calculate only realized net income, i.e. profit. Based on the withdrawal of profits, enterprises sum up their commercial activities and determine the profitability of production.

When deriving financial results, a distinction is made between: total profit, balance sheet profit, taxable profit, profit remaining at the disposal of the enterprise, and undistributed balance of profit.

To determine the financial result, the company must keep records of its income and expenses. Accounting for income and expenses is regulated by PBU 9/99 “Accounting for the organization’s income” and PBU 10/99 “Accounting for the organization’s expenses”.

Income – an increase in economic benefits as a result of the receipt of assets (cash, other property) or the repayment of liabilities, leading to an increase in the capital of the organization, with the exception of contributions from property owners.

The income of the organization, depending on their nature, the conditions for obtaining and the activities of the organization, are divided into:

a) income from ordinary activities;

b) other income.

Income from ordinary activities is

1. proceeds from the sale of products, the performance of work and the provision of services.

2. proceeds from the lease of property, rights to intellectual property (license payments), from participation in the authorized capital of other organizations, if these types of activities are the subject of the organization’s activities.

Expenses – a decrease in economic benefits as a result of the disposal of assets (cash, other property) or the emergence of liabilities, leading to a decrease in the organization’s capital, with the exception of a decrease in the contributions of property owners.

The expenses of the organization, depending on their nature, conditions of implementation and activities of the organization, are divided into:

a) expenses for ordinary activities;

b) other expenses.

Expenses for ordinary activities are

1. expenses associated with the manufacture and sale of products, the performance of work and the provision of services.

2. Expenses associated with the lease of property, rights to intellectual property (license payments), with participation in the authorized capital of other organizations, if these types of activities are the subject of the organization’s activities.

Expenses for ordinary activities are divided into

– material costs;

– labor costs;

– deductions for social needs;

– depreciation;

– other expenses.

Such expenses during the month are initially accumulated on the account for accounting for production costs – D 20 K 10, 70, 69, 76, 23, 25, 26. – 100,000

at the end of the month, one part of production costs forms the cost of manufactured products – D43 K20 – 80,000

and the other part remains on account 20 i is work in progress – 20,000.

To account for income and expenses for ordinary activities, account 90 “Sales” is used. The loan reflects income from the sale of products to customers (revenue)

D62 K 90-1 “Revenue” – 118,000 – reflects the proceeds for the products sold.

The debit of the account reflects the cost of goods sold i.e. the cost of its production D 90-2 “Cost of sales” K 43 – 70,000

As well as VAT on products sold D 90-3 “VAT” K 68 – 18,000

Comparison of debit and credit turnover monthly determines the financial result from the sale D 90-9 “Profit (loss) from sales” K 99 – 30000

Other income are :

1. proceeds from the lease of property, rights to intellectual property (license payments), from participation in the authorized capital of other organizations, if these types of activities are not the subject of the organization’s activities.

2. profit from participation in joint activities (under a simple partnership agreement);

3. proceeds from the sale of fixed assets and other assets other than products;

4. interest received for the provision of funds for use.

5.. fines, penalties, forfeits for violation of the terms of contracts;

6. assets received free of charge, including under a gift agreement;

7. receipts in compensation for losses caused to the organization;

8. the amount of accounts payable for which the limitation period has expired;

9. other non-operating income.

Other expenses are :

1. Expenses associated with the lease of property, rights to intellectual property (license payments), with participation in the authorized capital of other organizations, if these types of activities are the subject of the organization’s activities.

2. expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than products;

3. interest for the use of funds (credits, loans);

4. payment for the services of credit institutions;

5. contributions to reserves for doubtful debts, etc.;

6. fines, penalties, forfeits for violation of the terms of contracts;

7. compensation for losses caused by the organization;

8. the amount of receivables for which the limitation period has expired;

9. transfer of funds to charity, expenses for the implementation of sports and cultural events, recreation, entertainment;

10. expenses from the consequences of emergency circumstances (natural disaster, fire, accident, nationalization of property, etc.).

Account 91 is intended to account for other income and expenses. 3 subaccounts are opened for it (1 – other income, 2 – other expenses, 9 – balance of other income and expenses). Expenses are reflected in the debit of the account

D 91-2 K 01, 10 – the value of written-off assets is written off

D 91-2 K 76 – interest has been accrued for the use of money. means

D 91-2 K 20 – expenses for the maintenance of leased property, etc.

Accrual of other income is reflected in the credit of the account

D 62 K 91-1 – proceeds from the sale of property

D 76 K 91-1 – the due rent, dividends, etc. have been accrued.

Comparison of debit and credit turnover monthly determines the financial result from other activities D 91-9 K 99

Thus, account 99 “Profit and Loss” reflects the overall financial result of the enterprise (both from the main and from other activities). After paying income tax, the net profit of the enterprise remains on this account. The tax charge is reflected in the posting

D 99 K 68

At the end of the year, after the final calculation of net profit, account 99 is closed, and the amount of profit is transferred to account 84 “Retained earnings (uncovered loss)”

D 99 K 84

The decision on the distribution of net profit is made only by the owners of the organization. Profit can be directed to the following purposes:

D 84 K 80 – profit is aimed at increasing the authorized capital

D 84 K 82 – profit is aimed at increasing reserve capital

D 84 K 75 – profit is used to pay dividends to owners

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