Any entrepreneur wants to sell his property profitably. But this does not always work. For example, if an enterprise decided to sell old equipment, the market price for which is lower than the book price, then the financial result of the transaction will be negative. Read about how to display the write-off of loss on OS sales.
Workflow
The implementation of the OS is drawn up by the contract. According to the requirement of the Methodological Instructions on the BU, both parties must also sign the acceptance certificate. Information on the removal of an object from the register is entered in the inventory card. Based on these documents, the accountant displays the transaction in NU. And if the transaction was a loss, then you need to be especially careful, since different rules are established in the Tax Code and acts. Let's consider them in more detail.
Tax risks
Very often, in order to increase demand for products or the full sale of balances, management decides to sell goods at a price below cost. Many accountants fear this situation, since it is prohibited by law. Is it really?
1. The price may not be lower than the cost.
The cost of electricity, gas supply and communication services is regulated by the state. In other cases, the price is contractual and there are no restrictions in the Civil Code. The antitrust company monitors the actions of "big players". Companies with low market share are not worth worrying about.
2. Loss on sale, if the price is lower than s / s, is not taken into account in taxation.
The base is calculated for all transactions. A separate procedure is provided only for operations with the Central Bank. There is also a prohibition on recognizing in expenses the difference between the market and the selling price of products to the employee. For other operations, there are no rules. If the company does not work at a loss systematically, then the sale of fixed assets at a loss will be blocked by income from other operations.
3. If the price is lower than the purchase, then state agencies will accrue taxes
Such a situation is possible only if the transaction is controllable. Then you have to prove to the tax that its price is comparable to the market.
4. The costs of the purchase of goods sold at a loss cannot be taken into account when calculating the NPP.
If the costs were directed to generating income, then they are economically viable. And the final result does not matter.
5. If the goods were sold at a loss, then VAT deductible for them cannot be accepted.
This is not entirely true. It is possible to deduct VAT on unprofitable goods if the organization proves that this transaction avoided even greater economic losses. But if the operation was carried out only on paper, the tax authorities will not accept such an explanation.
According to Art. 323 of the Tax Code of the Russian Federation, profits and losses from the sale of fixed assets should be determined separately for each object. Proceeds from the sale of property, net of VAT, are recognized in income. The taxpayer can reduce this amount by the residual value, taking into account the costs associated with its sale: the cost of storage, maintenance and transportation.
An organization’s financial result from a transaction is calculated at the date the income is recognized. If the accrual method is used in OU, then the income from the sale of fixed assets is calculated at the time of transfer of ownership. If the cash method is used, then on the date the funds are credited to the bank account.
Loss on sale of fixed assets is equivalent to other expenses. When taxing profits - is taken into account in the manner prescribed by paragraph 3 of Art. 268 of the Tax Code of the Russian Federation. It is included in costs in equal installments over the period, which is calculated as the difference between the period of useful and actual use before sale. It must be written off from the next month after implementation.
How to reflect the loss from OS sales in reporting?
The financial result of the transaction is reflected in the income tax return (NPP). Revenue is shown on line 060 of the first application of the second sheet of the declaration. The residual value along with expenses is displayed in line 150 of the second application, the loss - in page 200, reducing the total amount of expenses (page 270). Part of the negative financial result from the sale, which can be taken into account for tax purposes of the current period, is shown in line 090. The amount of accrued compensation for depreciation for the sold fixed assets is recorded in page 280 of the second appendix.
Example
In August 2012, IKS CJSC sold fixed assets for 59 thousand rubles. (including 9 thousand rubles - VAT). This property was recorded at an initial cost of 120 thousand rubles with a depreciation period of 8 years (96 months). The company uses the accrual method to determine the financial results of the transaction and the linear method for depreciation. The amount of monthly compensation for depreciation is 1.25 thousand rubles. The actual period of use is 38 months, the accumulated depreciation is 47.5 thousand rubles. The total cost of sales - 1.18 thousand rubles. VAT included.
Title | The code | Amount (thousand rubles) | |
| Proceeds from the sale of property | 060 | fifty |
The portion of the loss that relates to current expenses | 090 | 0.405 | |
| Residual value including expenses | 150 | 73.5 |
| Loss on OS sale | 200 | 23.5 |
| | | | |
The loss in the amount of 23.5 thousand rubles, which is displayed in line 200, is then evenly (405 rubles each) written off monthly for 58 months (96-38 months). The first part is indicated in the report for September 2012 in line 090. Documents confirming the loss from the sale of fixed assets must be kept for now, when it reduces the tax base of the NPP.
Reflection of financial result in accounting
According to paragraph 7 of PBU, funds from the sale of fixed assets are recognized in the operating system as operating income. Costs associated with the sale of these facilities are recognized as expenses. These amounts in accounting are fully accounted for in the current month. Thus, the first difference from OU is that losses are written off immediately, and not in parts. Therefore, a deductible temporary difference arises, due to which a deferred tax asset is formed. In the future, he will reduce the amount of NPP payable to the budget.
Example
We supplement the data of the first example. In August 2012, the accountant of the enterprise should display the loss from sales. Wiring:
DT 91-2 KR 60 - 1 thousand rubles. - payment for services of another organization;
DT 19 KR 60 - 180 rubles. - reflection of VAT;
DT 62 KR 91-1 - 59 thousand rubles. - operating income from sales;
DT 91-2 KR 68 - 9 thousand rubles - VAT is charged;
DT 01-2 KR 01-1 - 120 thousand rubles - the initial cost is written off;
DT 02 KR 01-2 - 47.5 thousand rubles. - written off depreciation during use;
DT 91-2 KR 01-2 - 72.5 thousand rubles - the residual value is included in the costs;
DT 09 KR 68 - 6.64 thousand rubles (23.5 thousand rubles. X 24%) - tax asset.
Over the next 56 months. loss on sales will be written off to the BU. Wiring:
DT 68 KR 09 - 97.24 rubles. (5640 rub. \ 58 months).
Selling goods at a loss
Implementation of SOEs takes place under the terms of the contract. Products are considered sold when the buyer has ownership. This order is established in paragraph 1 of Art. 223 of the Civil Code of the Russian Federation. Unless otherwise specified in the contract, it occurs at the time of transfer of products to the buyer. After shipment, the organization must calculate the financial result of the transaction. For these purposes, the BU has a special profit and loss account “90”. It reflects on DT the amount of selling expenses, and on credit - income from sales. Based on the data of sub-accounts, the financial result for the current period is calculated:
Turnover KR 90-1 - Turnover DT.90-2,3,4 = Profit \ loss on sales.
Posting, which is issued a positive financial result:
DT 90-9 KR 99 - Profit.
DT 99 KR 90-9 - loss from sales (posting is opposite to the previous one).
Sub-accounts are closed at the end of the year by internal records during the reformation of the balance sheet.
In accounting, revenue is recognized as income if:
- the right to receive money is confirmed by the contract;
- the amount of income can be calculated;
- as a result of the operation, the agronomic benefits of the organization will increase;
- the buyer has ownership.
If at least one of these conditions is not met, then the revenue cannot be recognized, such goods should be accounted for in accordance with 45.
Accounting for GP implementation
No. | Operation | DT | KR | Amount |
Sales revenue recognized |
1 | GP implementation | 62 | 90-1 | Revenue |
2 | Charged to actual cost | 90-2 | 43 | Cost price |
3 | Accrued VAT | 90-3 | 68-2 | VAT |
4 | Costs Included | 90-2 | 44 | Implementation costs |
5 | Financial results: - profit - loss | 90-9 99 | 99 90-9 | Income - expenses |
6 | Buyer payment | 51 | 62 | Negotiated value |
Revenue recognition conditions not met |
1 | GP implementation | 45 | 43 | Cost price |
2 | Buyer payment | 51 | 62 | Negotiated value |
3 | Revenue | 62 | 90-1 | Revenue |
4 | Charged to cost | 90-2 | 45 | |
5 | Accrued VAT | 90-3 | 68 | Tax amount |
6 | Charged | 90-2 | 44 | Sale costs |
7 | Financial results: - profit - loss | 90-9 99 | 99 90-9 | Income - expenses |
The posting "profit / loss from sales" is formed after taking into account all the costs associated with the implementation of SOEs.
Reporting
For a more detailed consideration of the financial results of the company, in addition to the balance sheet, a profit and loss statement is also provided. It describes in detail all the income and expenses of the current period.
Line 010 displays the revenue from the sale of goods. Amounts from ordinary activities are displayed here. If for any of them the revenue exceeds 5% of the total, then it is detailed in 011-013. Profit and loss statement is built on an accrual basis. That is, revenue is recognized as such at the time of shipment of the goods to the buyer. But often in contracts it is written that the right of ownership passes after the payment of the goods. In such cases, revenue is included in the report at the date the money was credited.
Next, you need to describe the cost of production: the final figure in line 020 and in detail for each type of activity is 021-023. The gross profit follows - p. 030.
The profit and loss statement displays not only the sources of revenue, but also the costs associated with the sale of goods and services. In particular, lines 030 and 040 display the sum of selling and management costs for sales. The following are the percentages received on deposits and bonds (060), and those that are payable to the bank (070), the share in the participation of other OA (080), other operating (090, 100) and non-operating (110, 120) income and expenses .
Other income includes:
- proceeds from the sale of temporary property by third parties;
- profit from the joint activities of several organizations;
- interest on deposits and loans;
- income from patents;
- proceeds from the sale of assets;
- fines, penalties and fines received for the current period;
- other unaccounted income.
Other expenses (100) include expenses for:
- implementation of patents;
- write off company funds;
- interest on loans
- penalties, fines and penalties incurred;
- brokerage services;
- loss of securities package in assets;
- charity;
- contents of frozen assets;
- cancellation of transactions;
- emergency expenses;
- other unaccounted expenses.
The difference between all revenues and expenses is displayed on line 140 "Profit / loss before tax". After deduction of NPP (150) and other obligatory payments (150), the financial result from ordinary activities (160) is calculated. If there were no extraordinary receipts or expenses in the current period, then the same amount is displayed in the article "PE \ CHU" (190). So is the "Profit and Loss Statement".
Reference data
This section is completed if the company has tax assets (ON) or liabilities (BUT).
In line 150 of the company should indicate the amount of constantly available BUT, for example, payment of travel expenses, compensation for the operation of personal vehicles, etc. That is, this line indicates the income that is recorded in the accounting records, but the NPPs are not taxed.
The financial result per share is the balance between the state of emergency of the enterprise and dividends. To calculate the weighted average number of shares in circulation, you need to add their number at the beginning of each month, and then divide by 12.
If these securities are placed at a price lower than the market, then it is necessary to carry out the following calculation:
Average stock price = (A1 + A2) / KA
A1 - stock price by the time the placement is completed multiplied by their number;
A2 - revenue from the sale of securities at a lower cost;
KA - the number of shares in circulation.
Diluted financial result
This operation will allow you to identify how much you can increase profits with one securities, if:
- change preferred shares to common;
- try to buy back the stock at a price lower than the market.
In order to correctly calculate future profits, it is necessary to determine the income and expenses associated with a change in status or decrease in value. Such income includes the difference between the market and actual price of a share and interest income. Expenses - compensation to shareholders, reorganization fees.
Summary
It is possible to sell goods at a price below cost, but this should be wished very carefully. As a result of such an operation, a difference in financial results in NU and BU will necessarily arise. In the first case, the amount of loss is written off in installments. And in the second - right away.