Disputes with neighbors 

The ratio of possible profit and loss. How does a company's profit and income differ from revenue?

Russians are well aware of the “de facto” phenomenon of lost profits, but many do not even realize that the legislation provides for the possibility of compensating the perpetrator for the shortfall in income in favor of the victim. Meanwhile, the relevant law of the Russian Federation interprets such a fact as a violation of the rights of the injured person and assumes that he will receive compensation for the losses incurred. From a legal point of view lost profit or lost profit - this is the complete or partial non-receipt of profit by the victim due to the neglect of another person's rights. Compensation for losses due to complete or partial non-receipt of profits may be claimed in full.

Examples of Lost Profits

Each of us has encountered cases of lost profits at least once in our lives, and the most common of them are:

  • non-delivery of production equipment or raw materials on time, due to which the entrepreneur does not produce products and loses possible profit from its sale
  • violation by the contractor of the deadlines for the delivery of a property under construction or renovation, forcing the victim to bear unplanned expenses for renting other areas
  • damage by the tenant to the property of the landlord, as a result of which the second is forced to bear unplanned expenses for repairs and loses possible income from the delivery of the object to another client
  • termination by the lessor of the lease agreement for retail or office space ahead of the agreed period and, as a result, the loss of the tenant;
  • car repairs longer than the agreed period, as a result of which the client incurs unplanned expenses for renting another car
  • An accident not the fault of the owner of the car that he uses to work in the taxi service: forced downtime leads to loss of profit

Everyone can supplement this very incomplete list of cases with examples from their own practice. But as with who can be compensated lost profits due to forced downtime and, most importantly, how to determine and prove its amount?

What does the law of the Russian Federation say about compensation for lost profits

Article 15 of the Civil Code Russian Federation gives a clear algorithm for calculating the amount of lost profits as the magnitude of the potential increase in income and gives the victim the right to claim compensation for lost profits in full from the culprit of non-receipt of income. In accordance with the law, compensation is possible only if there is a violation of the contract in which the injured and the guilty parties agreed on their relationship. Wherein compensation is calculated in accordance with the degree of neglect by the perpetrator of the contractual obligations assumed.

The difference between lost profits and real damages

AT Everyday life no one is immune from damage to property or health. Paragraph 2 of Article 15 of the Civil Code of the Russian Federation clearly separates the concepts of “real damage” and “lost profits” as follows: real damage is the costs that the victim has already incurred or will make in the future to restore violated rights or compensate for the loss or damage to his property; lost profit or profit - it's lost income that the victim would have received under normal conditions if the perpetrator had not violated his rights.

Calculation and proof

From the definition it is obvious that the two concepts are not synonymous and when applying to the court it is necessary to clearly determine dimensions and real damage, and lost profit. So, in the event of a fire or an apartment bay, damage to a car in an accident, the victim bears a number of expenses, compensation of which is entitled to claim from the perpetrator:

  • lawyer fees
  • appraiser's fees
  • postage to notify the perpetrator of the upcoming inspection of the property
  • expenses of the victim to pay the rent of another area or hotel
  • repayment of a bank loan that the victim was forced to take to repair damaged property, etc.

Compensation for real damage to restore violated rights is possible only if it is confirmed by properly executed documents. The victim may apply for compensation only if, using the property damaged by the perpetrator, he received or could receive income from it. Wherein total lost profit often significantly exceeds the cost of actual damage. For example, a negligent neighbor flooded and damaged the premises that the victim rented out. To the statement of claim to the court for compensation in this case, the injured lessor must submit the following documents:

  • lease contract;
  • a document confirming the payment of rent;
  • tax return.

Thus, the total loss suffered by the victim is the sum of the real damage, the costs of restoring violated rights and lost income. In accordance with the law, only direct losses incurred by the victim as a result of violation of his rights are subject to compensation. I.e consequential damages that are not directly related to the consequences of the violation of the rights of the victim, are not subject to recovery for compensation. In the case of damage to real estate, the victim can count on compensation for lost profits, if at the time of damage, the object was not empty, but was in use by the tenant.

Hello! In this article, we will talk about related, but not identical concepts: revenue, income and profit.

Today you will learn:

  1. What is included in the revenue of the enterprise;
  2. What is the income and profit of the company formed from;
  3. What are the main differences between these concepts.

What is revenue

Revenue - earnings from the direct activities of the company (from the sale of products or services). The concept of revenue is found exclusively in business and entrepreneurship.

Revenue characterizes the overall performance of the enterprise. It is revenue, not income, that is reflected in accounting.

There are several ways to account for revenue in an enterprise.

  1. The cash method defines revenue as real money received by the seller for the provision of services or the sale of goods. That is, when providing installments, the entrepreneur will receive proceeds only after the actual payment.
  2. Another way of accounting is accrual. Revenue from it is recognized at the time the contract is signed or the buyer receives the goods, even if the actual payment occurs later. However, advance payments are not included in such revenue.

Types of revenue

Revenue in an organization is:

  1. Gross- the total payment received for the work (or product).
  2. Pure- applied in . From gross revenue, indirect taxes (), duties, and so on are deducted.

The company's total revenue is made up of:

  • Proceeds from core activities;
  • Investment proceeds (sales of securities);
  • Financial earnings.

What is income

The definition of the word "income" is not at all identical to the term "revenue", as some entrepreneurs mistakenly believe.

Income - the sum of all the money earned by the enterprise through its activities. This is an increase in the economic benefit of the enterprise by increasing the capital of the company by the inflow of assets.

A detailed interpretation of the ways of generating income and their classification are contained in the Accounting Regulation "Income of organizations".

If cash proceeds are funds received by the company's budget in the course of its core activities, then income also includes other sources of funds (sale of shares, receiving interest on a deposit, and so on).

In practice, enterprises often carry out diverse activities and, accordingly, have various channels for generating income.

Income - the overall benefit of the company, the result of its work. This is the amount that increases the capital of the organization.

Sometimes the income is equal in size to the net revenue of the organization, but most often companies have several types of income, and there can be only one revenue.

Income is found not only in entrepreneurship, but also in the daily life of a private person who is not engaged in business. For example: scholarship, pension, salary.

Receipt of funds outside the scope of doing business will be referred to as income.

The main differences between revenue and income are given in the table:

Revenue Income
The result of the main activity The result of both main and auxiliary activities (sale of shares, interest on a bank deposit)
Occurs only as a result of conducting commercial activities Allowed even for unemployed citizens (allowances, scholarships)
Calculated from the funds received as a result of the work of the company Equal to revenue minus expenses
Cannot be less than zero Let's go negative

What is profit

Profit is the difference between total income and total expenses (including taxes). That is, this is the same amount that in everyday life could be safely put in a piggy bank.

In an unfavorable situation, and even with a large income, the profit can be zero, or even go negative.

The main profit of the company is formed from the profit and loss received from all areas of work.

Science economics identifies several main sources of profit:

  • Innovative work of the company;
  • Entrepreneur's skills to orient in the economic situation;
  • Application and capital in production;
  • The company's monopoly in the market.

Types of profit

Profit is divided into categories:

  1. Accounting. Used in bookkeeping. On its basis, accounting reports are formed, taxes are calculated. Explicit, reasonable costs are subtracted from total revenue to determine accounting profit.
  2. Economic (surplus profit). A more objective indicator of profit, since when calculating it, all economic costs incurred in the work process are taken into account.
  3. Arithmetic. Gross income minus miscellaneous costs.
  4. Normal. Necessary income in the work of the company. Its value depends on the lost profit.
  5. Household. Equal to the sum of normal and economic profits. Based on it, decisions are made on the use of the profit received by the enterprise. Similar to accounting, but calculated differently.

Gross and net profit

There is also a division of profit into gross and net. In the first case, only the costs associated with the workflow are taken into account, in the second, all possible costs are taken into account.

For example, the formula by which gross profit in trade is calculated is the selling price of a product minus its cost.

Gross profit is most often determined separately for each type of activity, if the enterprise operates in several directions.

Gross profit is used when analyzing the areas of work (the share of profit from which activity is greater), when determining the company's creditworthiness by the bank.

Gross profit, from which all costs have been deducted (credit interest, and so on), forms net profit. From it are accrued to shareholders and owners of the enterprise. And it is the net profit that is reflected in and is the main indicator of the business.

EBIT and EBITDA

Sometimes, instead of the understandable word "profit", entrepreneurs meet such mysterious reductions as EBIT or EBITDA. They are used to evaluate business performance when the compared objects operate in different countries or are subject to different taxes. Otherwise, these indicators are also called cleared profit.

EBIT represents profit in the form in which it was before taxes and various interest. It was decided to single out such an indicator in a separate category, since it is located somewhere between gross and net profit.

EBITDA is nothing more than profit before taxes, interest and depreciation. It is used exclusively to evaluate the business, its characteristics. It is not used in domestic accounting. for commercial equipment.

Thus, income is the funds received by the entrepreneur, which he can later spend at his own discretion. Profit - the balance of funds minus all expenses.

Both income and profit can be predicted if you take into account revenue for past periods of work, fixed and variable costs.

The differences between profit and revenue are as follows:

The line between concepts may be unclear for an ordinary employee, it does not matter to him how revenue differs from profit, but for an accountant there is still a difference.

The most successful traders earn only 40% of all their trades. Don't be surprised, most trades you make end up losing money. How then do traders manage to make money if more than half of the decisions they make turn out to be wrong? The fact is that in futures transactions, the size of the guarantee fee is very small, and even a slight price movement in an undesirable direction forces the trader to liquidate the position. Therefore, sometimes you have to move by touch: make several deals until you “catch” a profitable price movement.

Suppose a trader believes that the price of gold should rise from $300 to $500. He buys the contract at $300, deciding he can risk no more than $10. The price drops to $290 and the trader liquidates his contract. Then he opens another long position at $295 and again loses $10. Finally, the third contract he bought for $305 increases in price to the desired $500, or $195. So, our trader bought contracts three times. The first two trades were unsuccessful and gave him a total loss of $20. But the third position turned out to be successful and brought a profit of $195. Although only one trade out of three was successful, overall trading on the "gold" market was successful for the trader, bringing a profit of $175 ($195 - $20). Moving from nominal to actual profit, the trader made $17,500 ($175 x 100 ounces).

Here we come close to the problem of the ratio of possible profits and losses. Since most trades are unprofitable, you can succeed in the futures market only if, in monetary terms, profitable trades will exceed losing ones. This can be achieved by analyzing the ratio of possible profits and losses.

For each potential transaction, the rate of return is determined. The rate of return must then be balanced against the potential loss if the market goes in the wrong direction. Usually this ratio is set as 3:1, that is, the potential profit must be at least three times the potential loss. Otherwise, entry into the market should be abandoned. If in the gold contract example the predetermined risk was $10, then the potential profit would have to be at least $30.

Some traders, when calculating the ratio of possible profit and loss, include a probabilistic factor in it. They argue that it is not enough to simply determine profit and loss rates, believing that the values ​​​​of potential profit and loss should be multiplied by the percentage probability (that they will occur). Although from a statistical point of view, this approach looks quite logical, at the same time, it turns out that a trader is able not only to assess the possibility of potential profit and loss in advance, but also to assign percentage values ​​to them.

"Keep profitable positions as long as possible, close losing ones in time" is one of the oldest aphorisms in futures trading, which is directly related to our topic. Big profits in the commodity futures market can only be made by following the most stable market trends. Since only a relatively small number of trades during the year can generate significant profits, it is necessary to try to maximize these profits by "keeping profitable f positions as long as possible". On the other hand, it is necessary to minimize losses in unsuccessful transactions. It is surprising that so many traders tend to do the opposite.

More on the topic POSSIBLE PROFIT AND LOSS RATIO:

  1. 7.6. Operational analysis of profit as part of marginal income
  2. 2.9. Analysis of the information contained in the appendix to the balance sheet and income statement
  3. The impact of the asymmetry of tax legislation in terms of imperfect tax compensation for losses on the investment decisions of enterprises
  4. CHAPTER ELEVEN. Obstacles to the equation of the rate of profit and their overcoming.
  5. [c) MASSIE. INTEREST AS A PART OF PROFIT. EXPLANATION OF THE HEIGHT OF INTEREST BY THE LEVEL OF PROFIT]
  6. RAMSEY ON THE DIVISION OF "GROSS PROFIT" INTO "NET PROFIT" (PERCENT) AND "BUSINESS PROFIT". APPOLOGICAL ELEMENTS IN HIS VIEWS ON "SUPERVISION WORK", ON "RISK INSURANCE", AND ON "SUPERPROFIT"!

The owners of the company can use the net profit to pay dividends, to bonuses to employees, to increase the authorized capital, or for other purposes. In this article, we will look at how to account for transactions related to the distribution of profits and pay taxes.

The right to distribute profits belongs to the owners of the company (subclause 3, clause 3, article 91, clause 4, clause 1, article 103 of the Civil Code of the Russian Federation). To do this, they must hold a general meeting. In a joint-stock company, it is carried out no earlier than two months and no later than six months after the end of the financial year (clause 1, article 47 of the Federal Law of December 26, 1995 No. 208-FZ "On Joint-Stock Companies", hereinafter - Law No. 208 -FZ). In limited liability companies, the period for holding annual meetings is shorter - from March 1 to April 30 (Article 34 of the Federal Law of February 8, 1998 No. 14-FZ "On Limited Liability Companies", hereinafter - Law No. 14-FZ).

The decision must be documented in the minutes of the general meeting of shareholders (participants). It is clear that in companies created by a single founder, minutes of general meetings are not drawn up (Article 39 of Law No. 14-FZ, clause 3 of Article 47 of Law No. 208-FZ). The sole founder determines the directions of spending the net profit by his written decision.

What can you spend your net income on?

Undistributed (net) profit can be directed:

  • for the payment of dividends;
  • increase the authorized capital;
  • formation of reserve capital;
  • repayment of losses of previous years;
  • various employee benefits;
  • financing of capital investments;
  • other goals.

Let us consider in more detail the procedure for distributing profits for some of these purposes.

We pay dividends

The payment of dividends is the main direction of profit distribution.

When Not to Pay Dividends

Before making a decision to pay dividends, you need to check whether the company has the right to do so.

Recall that it is impossible to distribute profits between owners if:

  • share capital not fully paid up. In other words, if there is a debt in the debit of account 75 “Settlements with founders”, then profit cannot be distributed;
  • at the time of the decision to pay dividends, the value of the company's net assets is less than its authorized capital and reserve fund or will become less as a result of such a decision;
  • the company meets the signs of insolvency (bankruptcy) or if such signs appear due to a decision on the distribution of profits. Signs of bankruptcy are given in the Federal Law of October 26, 2002 No. 127-FZ "On Insolvency (Bankruptcy)". In particular, they include a situation in which the company, within three months from the date of the due date for the fulfillment of monetary obligations under contracts, including taxes and fees, will not be able to satisfy these requirements (clause 2, article 3 of Law No. 127-FZ ).

So, if at least one of these criteria is met, then the amounts paid to the founders are not recognized as dividends, since they were accrued in violation of the law. And they will have to charge taxes from them not at "dividend" rates, but at the usual ones (letter of the Ministry of Finance of Russia dated 10/14/2005 No. 03-03-04 / 1/276).

What documents are used to pay dividends

To calculate dividends, the following documents are required (letter of the Federal Tax Service for Moscow dated February 14, 2007 No. 20-12/013749a):

  • a registered charter that provides for the payment of dividends;
  • minutes (decision) of the general meeting of shareholders (participants) approving the payment of dividends for a certain year in a certain amount;
  • documents confirming the number of shares or share in the authorized capital of each recipient of dividends;
  • financial statements, according to which the company has a net profit in the amount necessary for payment.

The payment of dividends is confirmed by a payment document.

Is it possible to pay dividends from the profits of previous years

The regulatory authorities recognize that the company has the right to pay dividends from the profits of previous years (letters of the Ministry of Finance of Russia dated 03.20.2012 No. 03-03-06 / 1/133, the Federal Tax Service of Russia for Moscow dated 08.06.2010 No. 16-15 / [email protected], dated June 23, 2009 No. 16-15/063489).

This position is also supported by the judges (decisions of the Federal Antimonopoly Service of the North Caucasian District of January 23, 2007 No. 08-7128/2006, of the East Siberian District of August 11, 2005 No. А33-26614/04-С3-Ф02-3800/05-С1).

Attention!

It makes sense to mention the possibility of distributing the net profit of past years in the charter of the organization.

By the way, according to the Ministry of Finance, dividends from the net profit of previous years can be paid only if this profit was not previously directed to the formation of funds. For example, a fund for the corporatization of employees of a joint-stock company. Otherwise, dividend payments are not considered and, accordingly, are taxed at the usual rates (clauses 1, 2, article 35 of Law No. 208-FZ, letter of the Ministry of Finance of Russia dated 03/20/2012 No. 03-03-06/1/133, dated 04/06/2010 No. 03-03-06/1/235).

Accounting when accruing dividends

When accruing dividends (both annual and quarterly), the following entries are made in accounting:

Debit 84 Credit 75-2

Dividends accrued to the founder, who is not an employee of the organization;

Debit 84 Credit 70

Dividends are accrued to the founder, who is an employee of the organization.

If dividends are accrued but not paid

It happens that the company accrued dividends, but for some reason did not pay. Accrued but not paid dividends must be restored as part of net profit three years after the dividend payment deadline established by the general meeting (a longer period may be specified in the charter, but not more than five years) (clause 5, article 42 of Law No. 208- Federal Law, clause 3, article 28 of Law No. 14-FZ).

The lines will be like this:

Debit 75-2 Credit 84 sub-account "Retained earnings of the reporting year"

Unclaimed dividends were reinstated as part of net income.

When calculating income tax, dividends unclaimed by shareholders (participants) restored as part of profit are not included in income (subclause 3.4, clause 1, article 251 of the Tax Code of the Russian Federation).

We increase the authorized capital

Net profit can also be used to increase the authorized capital, although in practice such use of net profit is quite rare.

Three conditions for increasing the authorized capital at the expense of profit

When increasing the authorized capital of an LLC at the expense of property, the following requirements must be met (Article 18 of Law No. 14-FZ, clause 9 of the joint resolution of the Plenum of the Supreme Court of the Russian Federation No. 90 and the Supreme Arbitration Court of the Russian Federation No. 14 of 09.12.99):

1. The decision to increase the authorized capital in this way must be taken by the general meeting of participants on the basis of the data financial statements company for the year preceding the year during which such a decision was made. At least 2/3 of the LLC participants must vote for it (if the need for a larger number of votes to make such a decision is not provided for by the charter);

2. With an increase in the authorized capital, the nominal value of the shares of all participants in the company increases proportionally without changing the size and ratio of their shares.

3. The amount of the authorized capital increase must not exceed the difference between the value of the company's net assets and the amount of the company's authorized capital and reserve fund.

Example 1

The authorized capital of the company is 1,100,000 rubles. Reserve fund - 400,000 rubles. As of January 1, 2013, the value of net assets was equal to 3,010,152 rubles, the amount of retained earnings was 3,100,000 rubles. The maximum amount of the authorized capital increase is 1,510,152 rubles. .

It is clear that the authorized capital, the size of which the company is going to increase, must be fully paid by the founders.

As for joint-stock companies, the procedure for increasing the authorized capital at the expense of net profit will be slightly different.

The authorized capital of a JSC can be increased by increasing the nominal value of shares or by placing additional shares (clause 1, article 28 of Law No. 208-FZ).

The decision to increase the authorized capital by increasing the nominal value of shares is taken by a simple majority at the general meeting of shareholders. And the decision to place additional shares can be made either by a simple majority at the general meeting of shareholders or by the company's board of directors unanimously, if the company's charter allows it (Article 28 of Law No. 208-FZ).

Documentation with an increase in the Criminal Code

An increase in the authorized capital of a company provides for the need to amend the charter.

The procedure for making changes is provided for by Federal Law No. 129-FZ of August 8, 2001 “On State Registration of Legal Entities and Individual Entrepreneurs” (hereinafter - Law No. 129-FZ).

So, documents must be submitted to the registration authority (clause 1, article 17 of Law No. 129-FZ):

  • application for state registration of amendments to the charter, in the form No. P13001 (approved by order of the Federal Tax Service of Russia dated January 25, 2012 No. ММВ-7-6 / [email protected]). It must be signed by the person exercising the functions of the sole executive body of the company;
  • decision to amend the articles of association;
  • changes made to the constituent documents of a legal entity, or constituent documents of a legal entity in a new edition in two copies;
  • document confirming the payment of state duty in the amount of 800 rubles. (signature 3, clause 1, article 333.33 of the Tax Code of the Russian Federation).

Taxation when increasing the authorized capital

The organization itself, when increasing the authorized capital at the expense of its own property, including at the expense of retained earnings, does not generate income (subclause 3, clause 1, article 251 of the Tax Code of the Russian Federation, letter of the Ministry of Finance of Russia dated 04/09/2007 No. 07-05-06 / 86).

Let's figure out how the increase in the authorized capital of the company will affect its founders. More precisely, whether it will be considered income for tax purposes:

  • for LLC participants - the difference between the new and old nominal value of the share;
  • for JSC shareholders - the difference between the nominal value of new shares and the original ones.

JSC shareholders - legal entities will not have taxable income, this is expressly stated in subpara. 15 p. 1 art. 251 of the Tax Code of the Russian Federation. According to this norm, when determining the tax base, income in the form of:

  • the cost of additional shares received by the shareholder organization, distributed among shareholders by decision of the general meeting in proportion to the number of shares they own;
  • the difference between the nominal value of new shares received in exchange for the original shares and the initial shares of a shareholder in the event of distribution of shares among shareholders upon an increase in the authorized capital of a joint-stock company (without changing the shareholder's share in this company).

But with LLC participants - legal entities, the situation is different. About them in the sub. 15 p. 1 art. 251 of the Tax Code of the Russian Federation is not mentioned. There are clarifications from the Ministry of Finance that when increasing the authorized capital at the expense of retained earnings of previous years, participants receive non-operating income, from which income tax must be paid (letters of the Ministry of Finance of Russia dated May 30, 2013 No. 03-03-06/1/19742, dated 09/26/2011 No. 03-03-06/1/588).

However, judges in some decisions express the opinion that the participants do not receive any income from an increase in the authorized capital at the expense of net profit. They note that the profit in this case does not go to the participants, but remains a separate property of the company. Participants only increase the nominal value of their shares. Shareholders will receive real economic benefit only when any of the property rights is realized.

This means that the organization - a member of the company does not have economic benefits and income, as well as a taxable base for calculating profits, because an increase in capital due to the retained earnings of the company, which does not change the actual shares of participants in the authorized capital, does not lead to a change in their property (obligatory ) rights (Resolution of the Federal Antimonopoly Service of the Volga District dated February 16, 2009 No. A65-11409 / 2006). However, relying on this court decision is risky - so far we are not talking about established practice on this issue or any trend.

For LLC participants - individuals, when capital is increased due to retained earnings of previous years, income arises in the form of the difference between the initial and new nominal value of their shares.

The date of receipt of income is the date of state registration of the increase in the authorized capital of the company. On this date, the organization that is the source of income must calculate, withhold from the taxpayer and pay the amount of personal income tax in the general manner (letters of the Ministry of Finance of Russia dated January 26, 2007 No. 03-03-06 / 1/33, dated December 19, 2006 No. 01-04/336). The same is true for JSC shareholders.

It will be quite problematic to challenge this opinion in court. Previously, the courts supported taxpayers. The judges pointed out that an increase in the nominal value of a share in the authorized capital of an LLC due to retained earnings in relation to a participant cannot be regarded as income received by an individual (Decree of the Federal Antimonopoly Service of the Ural District dated May 28, 2007 No. F09-3942 / 07-C2, East Siberian District dated 07/25/2006 No. A33-18719 / 05-F02-3629 / 06-S1, Moscow District dated 02.26.2009 No. KA-A41 / 1046-09).

However, in Ruling No. 81-O-O of January 16, 2009, the Constitutional Court of the Russian Federation expressed a different position. The court recognized that exemption from taxes by its nature is a benefit, which is an exception to the principles of universality and equality of taxation arising from the Constitution of the Russian Federation, by virtue of which everyone is obliged to pay a legally established tax from the corresponding object of taxation. Establishing the benefits is the exclusive prerogative of the legislator. And with an increase in the authorized capital at the expense of retained earnings, the benefit is not provided. Arbitration courts began to follow this trend.

Thus, the Federal Antimonopoly Service of the Volga District decided that income in the form of the difference between the initial and new nominal value of the share formed in connection with the increase in the authorized capital of the company due to retained earnings of previous years, as well as the contribution of the participant, is subject to personal income tax (Decree No. A78-928/2010).

Accounting with an increase in the Criminal Code

When the authorized capital is increased, the following entries are made in accounting:

Debit 84 Credit 80

The increase in the authorized capital at the expense of net profit after the registration of the change is reflected.

We form reserve capital

Reserve capital - part of the equity allocated from the organization's profits to cover possible losses and losses. The amount of reserve capital and the procedure for its formation are determined by the legislation of the Russian Federation and the charter of the organization.

Joint-stock companies are obliged to create a reserve fund (capital) at the expense of net profit. At least 5% of net profit must be directed to the reserve fund (capital) annually. Deductions may be terminated when the reserve fund (capital) reaches the amount stipulated by the charter of the joint-stock company. Minimum size reserve fund (capital) of JSC - 5% of the authorized capital (clause 1, article 35 of Law No. 208-FZ).

The reserve fund of a JSC is intended to cover its losses, as well as to redeem the company's bonds and buy back the company's shares (clause 1, article 35 of Law No. 208-FZ).

An LLC can also create a reserve fund (capital), but it is not obliged to do so. The society determines its size and the order of formation independently (Article 30 of Law No. 14-FZ).

There is no mandatory contribution requirement for LLCs.

Accounting when forming a reserve fund

When forming the reserve capital in accounting, the following entries are made:

Debit 84 Credit 82

The net profit was directed to the formation of a reserve fund (capital) in accordance with the standards approved by the charter.

We cover the losses of previous years

When directing net profit to cover losses of previous years, the following entries are made in accounting:

Debit 84 subaccount "Retained earnings of the reporting year" Credit 84 subaccount "Uncovered loss of previous years"

Directed net profit to pay off losses of previous years.

We use net income to purchase property

At the general meeting, shareholders of a joint-stock company or participants in an LLC may decide to allocate part of retained earnings for the acquisition of non-current assets. Owners have the right to make such decisions. But the question arises, what should an accountant do with account 84 “Retained earnings (uncovered loss)”. In the Instructions for the Application of the Chart of Accounts (approved by order of the Ministry of Finance of Russia dated October 31, 2000 No. 94n), in the provisions on accounting, as well as in other regulations, there are only a few cases when it is possible to make a posting with the debit of account 84:

1) dividends have been accrued to shareholders or members of the company;

2) a reserve fund was created (replenished) on account 82 “Reserve capital”;

3) a loss was received based on the results of the reporting period;

4) after the approval of the annual reporting, a significant error was corrected (clause 9 PBU 22/2010 “Correction of errors in accounting and reporting”);

5) a significant change in accounting policy is retrospectively reflected (clauses 14, 15 of PBU 1/2008 "Accounting policy of the organization");

6) enlarged authorized capital JSC or LLC at the expense of the company's property.

For other cases, the Instructions for the Application of the Chart of Accounts provide for the reservation of retained earnings.

To track the direction of the use of funds, you need to organize analytical accounting for account 84. Sub-accounts are created for it.

The total balance of this account at the time of acquisition does not change, since investments from net income do not lead to a decrease in the balance sheet currency. Analytical accounting on account 84 “Retained earnings (uncovered loss)”, namely: “Profit to be distributed”, “Use of profit” allows you to control the presence and expenditure of retained earnings:

Debit 84 sub-account "Profit to be distributed" Credit 84 sub-account "Use of profit"

The use of net profit is reflected (the date of reflection of property in accounting).

Example 2

JSC "Kometa" for 2012 received a net profit of 4,000,000 rubles. On April 30, 2013, at the general meeting of shareholders, it was decided to distribute part of the net profit received for 2012, namely: net profit in the amount of 590,000 rubles. was used to finance capital investments. On May 15, 2013, at the expense of these funds, the organization purchased commercial equipment worth 590,000 rubles. (including VAT 90,000 rubles).

The following entries were made in the accounting of JSC "Komety".

Debit 08 Credit 60

- 500,000 rubles. - Purchased production equipment;

Debit 19 Credit 60

- 90,000 rubles. - "input" VAT is taken into account;

Debit 60 Credit 51

- 590,000 rubles. - transferred to the supplier funds for commercial equipment;

Debit 84 sub-account "Profit to be distributed" Credit 84 sub-account "Use of profit"

- 590,000 rubles. - reflects the use of net profit aimed at financing capital investments;

Debit 01 Credit 08

- 500,000 rubles. - the equipment was put into operation;

Debit 68 subaccount "VAT settlements" Credit 19

- 90,000 rubles. - submitted for the deduction of "input" VAT on commercial equipment.

Thus, the balance of retained earnings for 2012 is 3,410,000 rubles. (4,000,000 rubles - 590,000 rubles). The founders can use this amount at their discretion.

An integral part of economic costs is " normal profit"- income from the use of entrepreneurial talent. Normal profit appears when the total income of the firm is equal to the total economic costs. Under these conditions the firm's economic profit is zero. A normal profit is necessary to keep the entrepreneur in this field of activity.

Net economic profit

If a firm uses its available resources in the most efficient way and total income exceeds total, then there is a positive economic profit. Depending on the market structure and the ratio of elements of monopoly and competition in a particular market, economic profit can be maintained for a more or less long period.

The presence of positive or negative economic profit in the industry stimulates the inflow of new enterprises into the industry or the corresponding outflow of firms into other areas of activity.

Profit calculation example:

3. Accounting profit (1 - 2) = 1000 - 800 = 200

4. Economic profit (1 - 2 - 3) = 1000 - 800 - 250 = -50

Conclusion: with positive accounting profit, economic profit turned out to be negative, i.e. the entrepreneur needs to analyze the possibility of alternative use of his funds.

Analysis of operating profit

Profits and losses are the financial results of the business activities of the enterprise.

The main objectives of profit analysis are:
  • verification of the validity of the planned profit. The plan for profit should be linked to the volume of products sold and its cost;
  • assessment of the implementation of the business plan for profit;
  • calculation of the influence of individual factors on the deviation of the actual amount of profit from the planned one;
  • identification of reserves for further growth of profits and ways to mobilize (use) these reserves.

The most important sources of information for profit analysis are:

  • (F. No. 1 reporting),
  • (F. No. 2 reporting),
  • accounting register - journal-order No. 15 for accounting for profit and its use,
  • organizations.
The profit of the organization consists of three main elements:
  • profit (or loss) from the sale of products, works and services;
  • profit (or loss) from other sales;
  • operating, non-operating and extraordinary income and expenses. The main part of the profit is profit from the sale of products, works, services.
In Form No. 2 of the financial statements "Profit and Loss Statement" the following types of profit are given:
  • gross profit. It is defined as the difference between sales revenue and cost of goods sold;
  • sales profit. It is calculated as the difference between revenue, cost, selling and administrative expenses;
  • profit before tax is calculated taking into account the presence of operating and non-operating income and expenses;
  • net income is determined by subtracting deferred tax assets and current income tax from profit before tax and deferred tax liabilities.

Let us analyze the profit received from the main activity of the enterprise, i.e. profit from the sale of products (works, services).

Profit from product sales- this is the financial result obtained from the main activity of the enterprise, which can be carried out in any form, fixed in its charter and not prohibited by law. The financial result is determined separately for each type of activity of the enterprise related to the sale of products, the performance of work, the provision of services. It is equal to the difference between the proceeds from the sale of products at current prices and the costs of its production and sale.

Pr \u003d Bp - C / s,

  • Bp - sales proceeds;
  • С/с - (production and sales costs).

Revenue is taken into account without value added tax and excises, which, being indirect taxes, go to the budget. The amount of markups (discounts) received by trade and supply and marketing enterprises involved in the sale of products is also excluded from the proceeds.

Enterprises engaged in export activities, when accruing profits, also exclude export tariffs directed to state revenue.

Revenue from sales of products is determined either as:

  • its payment (for non-cash payments - to bank accounts; for cash - at the cash desk of the enterprise);
  • upon shipment and presentation by the buyer of settlement documents.

In physical terms, the calculation of profit from the sale of products includes the balance of finished products at the beginning of the reporting period (He.), Unsold in the previous period, and the release of marketable products of the reporting period (TP) minus that part of the products that cannot be sold at the end of the reporting period (OK.).

Etc. = He. + TP - OK.

A period is a quarter or a year.

The composition of the balances of unsold products at the beginning and end of the period depends: on the method of accounting for revenue chosen by the enterprise - on receipt of money to the settlement account (cash) of the enterprise or on the shipment of products, settlement documents for which are presented to the buyer.

Table No. 8 (in thousand rubles)

Indicators

According to the plan for actually sold products

Actually

1.Production cost of goods sold

2. Selling expenses related to products sold (sales expenses)

3. Total cost of goods sold

4. Proceeds from sales in sales prices, excluding VAT and excises)

5. Financial result - profit (p. 4 - p. 3)

So, the profit from the sale of marketable products increased compared to the plan by the amount: 3376 - 3174 = + 202 thousand rubles. The following factors influenced this overfulfillment:

1. increase against the plan for the volume of sales. In the analyzed enterprise, the plan for the volume of sales (sales) of products was fulfilled by 101.6%. Multiplying the planned profit from sales by the percentage of overfulfillment of the plan in terms of sales volume, we find how much profit was received due to the growth in sales volume: (3174 * 1.6%) / 100% = + 50.8 thousand rubles. Consequently, due to the increase in the volume of sold products, the profit received from the sale increased by 50.8 thousand rubles;

2. An increase against the plan in the production cost of goods sold reduced profits.

Let's compare the actual and planned cost of actually sold products, i.e. let's compare the fourth column of the table with the third column on the first line: 19552 - 19491 \u003d - 61 thousand rubles. This result means that due to the increase in the production cost of goods sold, the profit decreased by 61 thousand rubles;

3. commercial (administrative) expenses, as well as production costs, have an inverse effect on profit. However, in this example, their value did not change and did not affect the profit. To establish this, let's compare the actual and planned values ​​of commercial expenses attributable to the actual volume of sales of products, i.e. compare the fourth column of the table with the third column in the second line: 144 - 144 = 0

4. We establish the impact of changes in wholesale prices on profit from the sale of products by comparing the actually sold products in the current wholesale prices (excluding VAT and excises) and the actually sold products in planned prices (excluding VAT and excises).

To this end, let's compare the fourth column of the table with the third column on the fourth line: 23072 - 23087 \u003d - 15 thousand rubles. This result means that the wholesale prices for products sold decreased by 15 thousand rubles, which reduced profit by the same amount;

5. the impact of changes in the structure of sold products on profit is calculated by the balance method, i.e. as the difference between the sum of the deviation of the actual profit from sales from the plan and the sum of the influence of all other (already known) factors: 202 - (50.8 - 61 + 0 - 15) = + 227.2 thousand rubles. This result means that a shift in the structure (change in the structure) of sold products towards an increase in the share of more profitable types of products increased the profit from sales by 227.2 thousand rubles.

The total influence of all factors (balance of factors) is: + 50.8 - 61 +0 - 15 - + 227.2 = + 202 thousand rubles.

Thus, the above-planned profit from product sales was obtained mainly due to a shift in the structure of products sold towards an increase in the share of more profitable types of products, as well as due to an increase in the volume of product sales. At the same time, an increase in the cost of goods sold and a decrease in wholesale prices for products reduced profits. The amount of selling expenses did not change and did not affect the profit.

It is also important to analyze the "quality" of profits. Profit quality is a generalized characteristic of the structure of sources of profit formation. With a high "quality" of profit the volume of products produced increases, its cost decreases. With a low "quality" of profit there is an increase in sales prices for products in combination with the absence of an increase in the volume of production in physical terms.

The main thing in improving the "quality" of profit is to reduce. This is an intensive direction of increasing profits by mobilizing available reserves.

Marginal income

When analyzing profit from the sale of marketable products, it is necessary to determine such an indicator as marginal income. Marginal income is the difference between the proceeds from the sale of products and the variable costs of its production and sale. In other words, marginal income is the sum of fixed costs and profits from sales.

Based on this, the profit from the sale of marketable products is equal to marginal income minus fixed costs. It follows that the company will make a profit only if the fixed costs are reimbursed by the proceeds from the sale of a certain volume of manufactured products. This revenue should be sufficient to offset variable costs and generate profits. The analysis here allows you to establish, due to which particular costs (fixed or variable) included in the cost of goods sold, the profit changes.

Operating leverage effect

It is also necessary to consider such an indicator as operating leverage effect (production leverage). It is characterized by the ratio of marginal income and profit. The effect of operating leverage shows how much profit increases due to a change in revenue from product sales. The fact is that the effect of increasing sales revenue on the amount of profit depends on the ratio of variable and fixed costs. Therefore, the value of the operating leverage depends on this ratio. The higher the proportion of fixed costs, the greater the difference between marginal income and profit, and the higher the ratio between them. With the help of operating leverage, you can assess the degree of influence of revenue from the sale of products on profit. The greater the operating leverage, the greater the increase in profits provides each percentage increase in revenue from product sales.

An important aspect of profit analysis is definition of break-even(critical) volume of production and sales of products. There is a breakeven output if equals(or if marginal income is equal to the sum of variable costs as part of the cost of production). In this case, the organization does not receive any profit or loss from the sale of products. This situation is called the critical (break-even) volume of production and sales, or otherwise, the critical point (break-even point), as well as threshold.

The critical volume of production can be defined as the quotient of the amount of marginal income. Therefore, the threshold of profitability can be determined by the following formula:

(sum of variable costs/sum of marginal income) * 100%.

To reach the critical point, it is necessary to produce and sell so many products that both the variables and the given organization are covered by the proceeds from the sale. In order to make a profit, you should increase sales. If the value of production decreases, then the organization will receive a loss.

All the factors listed in this paragraph that affect the amount of profit received should be attributed to the number internal factors . In addition to them, there are external factors, which also determine the amount of profit received by the organization.

External factors include:
  • socio-economic conditions in which the organization operates;
  • degree of development of foreign economic relations;
  • transport conditions;
  • the level of prices for production resources, etc.

Analysis of profit from the sale of assets, operating, non-operating and extraordinary income and expenses

Reserves for increasing profits and increasing the level of profitability

Enterprises can receive financial results (profits or losses) that are not related to the sale of products, works and services. This includes, in particular, gains and losses from so-called other sales, i.e. from the sale of property (assets) of the enterprise. For example, there may be a sale (of funds), materials, and other types of enterprise assets.

When analyzing financial results from other sales, it is necessary to check the reliability of the valuation of the assets being sold, as well as to compare the possible income from the sale of assets with the estimated costs of these operations. Then, already in the process of subsequent analysis, the actual financial result from other sales should be compared with the envisaged result.

When selling fixed assets, one should compare the possible profit from their sale with the income that can be received by the enterprise if these fixed assets continue to operate. If the profit from the sale of an object of fixed assets exceeds the amount of possible profit from the continuation of the operation of this object for a certain standard period, then the sale of this object of fixed assets should be carried out.

In addition to profits and losses from other sales (from the sale of assets), organizations may also have non-operating financial results that are not related either to the sale of products or to the sale of assets (property).

Non-operating financial results are divided into three types:

  • operating income and expenses;
  • non-operating income and expenses;
  • emergency income and expenses.
Operating income and expenses include:
  • interest receivable;
  • Percentage to be paid;
  • income from participation in other organizations;
  • other operating income and expenses.
Non-operating income and expenses include: See further: Extraordinary income includes:
  • insurance indemnities;
  • the cost of material assets remaining from the write-off of assets unsuitable for restoration and further use, i.e. fixed assets.

Extraordinary expenses arise as a consequence of extraordinary circumstances of the economic activity of the enterprise (floods, fires, accidents, or nationalization of property, etc.)

Operating, non-operating and extraordinary financial results are generally not planned. Therefore, the main method of their analysis is to compare their actual value for the reporting period with the amounts for previous reporting periods, i.e. study of the dynamics of these quantities. When analyzing for each type (item) of these incomes (profits) and expenses (losses), it is necessary to find out the reasons for their occurrence, to establish whether measures were taken to pay off the debt in a timely manner, to identify the persons guilty of missing the statute of limitations, etc.

Analysis of non-operating financial results makes it possible to assess the organization of the functioning of marketing and financial services, as well as the degree of compliance with contractual discipline.

In conclusion of the analysis, it is necessary to develop specific measures aimed at reducing or even completely preventing losses from non-sales operations.

The analysis of profit formation should be completed with a summary calculation of the reserves for increasing profits identified as a result of the analysis.

The main reserve for profit growth is the reduction in the cost of manufactured and sold products.

The process of formation and distribution of profits of the enterprise

Analysis of the use of profits

The amount of profit remaining at the disposal of the enterprise (net profit) is primarily affected by the amount of taxable profit, as well as the income tax rate.

If taxable income changes, then net income changes in the opposite direction. So, with an increase in the amount of taxable profit, the amount of profit remaining at the disposal of the enterprise will decrease.

With regard to income taxed at rates different from the income tax rate, these incomes are deducted from gross income when determining the amount of taxable income. The considered types of income, with the exception of taxes, increase the amount of profit remaining at the disposal of the enterprise.

The amount of deductions from profit in has the opposite effect on the amount of net profit: with an increase in these deductions, the profit remaining at the disposal of the enterprise decreases, and with a decrease in these deductions, net profit increases.

When analyzing the use of profit, it is necessary to compare its actual distribution for the reporting period with the distribution provided for in the financial plan of the enterprise, as well as with the corresponding data for previous periods, that is, in dynamics. Based on the analysis of the use of profit, conclusions can be drawn about the need for changes in its use in order to achieve optimal ratios between the individual directions of its distribution.

The constituent documents of each organization determine the procedure for using the net profit remaining after making tax payments to the budget, as well as the list of funds formed from this profit.

In the process of analyzing the use of profits, the following main tasks should be solved:
  • establish how the amounts and specific weights of specific areas for the use of profit have changed in comparison with the financial plan and the values ​​of the previous period;
  • to analyze the formation and use of reserve capital and other special funds;
  • evaluate the efficiency of profit use;
  • determine ways to optimize the use of profits and the main activities aimed at improving the use of profits.

In the process of formation and use of special purpose funds at the expense of the profit remaining at the disposal of the organization, the stimulating role of profit is carried out.

The following questions should be considered when reviewing special funds:
  • change in the amount of funds allocated to special funds;
  • the influence of individual factors on this amount;
  • the procedure for using special funds for the relevant purposes;
  • how the amounts of deductions from net profit to special funds and the amounts of use of the funds of these funds change in dynamics, i.e. over time;
  • what are the reserves for optimizing the size of special funds and their use.

When analyzing the formation of special-purpose funds at the expense of net profit, a formula should be used to determine the degree of change in deductions to special funds due to changes in net profit:

∆SF = ∆CHP K,

  • ∆SF— increase in the value of special funds, i.е. accumulation or consumption fund by changing the amount of profit remaining at the disposal of the enterprise;
  • ∆CHP- an increase in the amount of profit remaining at the disposal of the enterprise;
  • To— coefficient of deductions from net profit to this fund (basic value).

The amounts of contributions to special purpose funds are also influenced by changes in the value of the coefficient of contributions from net profit. The influence of this factor can be determined by the following formula:

∆SF \u003d (K 1 - K 0) PE 1,

  • ∆SF— increase in the value of special-purpose funds due to changes in the coefficient of deductions from net profit;
  • K 1 , K 0- respectively, the actual and basic coefficients of deductions from net profit to special-purpose funds;
  • PE 1— net profit of the given enterprise for the reporting period.

An increase in the amount of profit remaining at the disposal of the enterprise accordingly increases the amount of deductions to special funds, and a decrease in net profit reduces the amount of these deductions. Similarly, i.e. the change in the coefficient of deductions from net profit also directly affects: with an increase in this coefficient, the amount of deductions to special-purpose funds increases, and with a decrease in the value of the coefficient, the amount of deductions to special funds decreases.

In the process of analyzing the use of special funds, it is necessary to compare the actual expenditures of funds with the planned and expenditures of previous reporting periods. Thus, the funds of accumulation funds are directed, as a rule, to the development of production, i.e. to increase (funds), as well as to fill current assets. It is advisable to analyze how the use of the accumulation fund has affected the structure of the property of the enterprise, as well as technical condition fixed assets (funds).

Consumption funds are spent to make various social payments. It is advisable to analyze the use of these funds in conjunction with such indicators of the state and use of labor resources, such as turnover rates for hiring and dismissal, full turnover, turnover, indicators of the average wage category, and labor productivity. The use of profit for the formation and spending of consumption funds is justified if it is interconnected with the improvement of the listed labor indicators.

Giving a general assessment of the use of the organization's profits, it is necessary to state how it contributes to the increase in the scale of the organization's activities, the growth of its economic potential, the replenishment of equity, as well as the optimization of the structure of the organization's assets and liabilities.