Accounting policy 2018: what needs to be adjusted

Accounting policy of an enterprise: general requirements for registration

The accounting policy is drawn up in accordance with the rules established by the accounting law No. 402-FZ of December 6, 2011, as well as PBU 1/2008. In addition, each industry may have its own regulations that affect its content.

The accounting policy consists of two parts: accounting and tax. They can be drawn up as a single document consisting of two sections, or two separate provisions can be made.

The organization's accounting policies are applied continuously from year to year, and reasonable changes to it can only be made from the beginning of the reporting year. The order on the accounting policy is approved by the manager no later than 90 days after registration of the company. For example, the accounting policy for 2021 had to be adopted before December 31, 2019, and the document approved in 2021 will come into force only from January 1, 2021.

An organization's accounting policies should reflect accounting methods only for actual assets, transactions, and liabilities. It is advisable to fix in the text of the document those accounting aspects for which there is a choice from several options, or the law does not contain an unambiguous interpretation on them. For example: what methods of depreciation are used, how reserves are created, etc. It makes no sense to rewrite unambiguous provisions of the PBU, or the Tax Code, that do not offer a choice.

Consolidated reporting

Paragraph 7 of PBU 1/2008 describes the rule according to which organizations that keep records and prepare reports in accordance with IFRS have the right to take into account, in addition to federal standards, also IFRS standards.

But in addition to this, if any accounting method established by the federal standard contradicts the requirements of IFRS, then the organization has the right not to apply it. However, the company must explain why these methods are not consistent with each other by describing them in detail.

“Accounting policies of the organization” PBU 1/2008: changes

From 08/06/2017, amendments to PBU 1/2008 “Accounting Policy of the Organization” came into force (Order of the Ministry of Finance of the Russian Federation dated 04/28/2017 No. 69n). Its provisions include, in particular, the following innovations:

• PBU “Accounting Policies” now applies to all legal entities, except credit and government organizations,
• a rule has been introduced on independent choice of the accounting method, regardless of the choice of other organizations, and subsidiaries choose from the standards approved by the main company (clause 5.1),
• the concept of rational accounting has been clarified - accounting information must be useful enough to justify the costs of its formation (clause 6),
• in cases where there is no specific method of accounting in federal standards, the organization develops it itself, based on paragraphs. 5 and 6 PBU 1/2008 and accounting recommendations, consistently referring to IFRS standards, federal (PBU) and industry accounting standards (clause 7.1), and to companies conducting simplified accounting (small enterprises, non-profit organizations, Skolkovo participants) , when forming an accounting policy, it is enough to be guided by the requirements of rationality (clause 7.2),

Choosing the correct accounting method

The updated version of PBU 1/2008 more specifically establishes the rules for choosing an accounting method: federal accounting standards must be followed, as before, and if there are alternative methods, the organization has the right to choose one of the existing ones.

What to do if there is not a single suitable method in federal standards? The answer is very logical - to develop your own, new method, guided by the following documents: international financial reporting standards (IFRS), then federal and industry standards, and, as a last resort, recommendations in the field of accounting. These provisions are contained in a new, specially created clause 7.1 of PBU 1/2008, because before this this list of actions was not officially established.

An accounting policy is a set of accounting methods selected from those approved and prescribed at the legislative level that your organization follows. If something is not stipulated in the legislation, the organization itself thinks through all the nuances, also enshrining them in the accounting policy. It is drawn up immediately, during the creation of the organization, while being adjusted during the introduction of changes to it, previously approved by order.

When are these adjustments needed? Firstly, when the standards of Russian legislation themselves change. Secondly, if you have developed a new, more efficient way of keeping records that improves the quality of information provided. And, of course, if the activities of your organization have changed significantly. As a rule, any planned changes for the coming year are approved in December.

Contents of the accounting policy of the organization (LLC)

Accounting policies should reflect:

• list of regulations on the basis of which the company keeps records: Law on Accounting No. 402-FZ, PBU, Tax Code of the Russian Federation, etc.,
• working chart of accounts, prepared as an annex to the accounting policy,
• positions responsible for organizing and maintaining records in the company,
• forms of the “primary” used, accounting and tax registers - unified forms, or independently developed,
• depreciation issues – calculation methods, frequency (monthly, once a year, etc.),
• limits on the value of fixed assets, the procedure for their revaluation,
• accounting of materials, finished products, goods,
• accounting of income and expenses,
• the procedure for correcting significant errors and the criteria for classifying them,
• other provisions that the organization deems necessary to reflect.

If the “accounting” part of the organization’s accounting policy is quite universal for everyone, then the tax part will be different for each taxation regime, but in any case should contain:

• information about the applicable tax system, and if there is a combination of tax regimes - the procedure for maintaining separate accounting,
• how taxes are paid in separate divisions, if any,
• whether the company has tax benefits, and under what conditions they apply.

Irrelevant information

Now PBU 1/2008 has introduced a new definition - non-essential information. What does it mean? This information, the existence, absence or manner of reflection of which does not in any way affect economic decisions, is now called “irrelevant”. The organization itself determines what information is immaterial based on its size and nature. Clause 7.4 of PBU 1/2008 contains instructions for the case when the management of federal standards or the creation of new standards leads to the appearance of non-essential information. In such a situation, the accountant himself chooses accounting methods, that is, without applying standards. And yes, please note: this rule applies to all organizations.

Accounting policy of the simplified tax system

The nuances of tax accounting policy with “simplified” depend on the selected object: “income” (6%), or “income minus expenses” (15%).

When applying the simplified tax system “income”, tax policy should reflect:

• income accounting procedure,
• indicate how the paid insurance premiums reduce the tax base,
• in what order and at what rate are taxes and advance payments calculated,
• tax register - KUDIR.

With the object “income minus expenses”, special attention should be paid not only to income, but also to expenses, indicating:

• the procedure for accounting for fixed assets, the method of calculating depreciation,
• composition of material costs,
• procedure for accounting for sales costs (if any),
• recognition of past losses in the current period,
• procedure for calculating and paying the minimum tax,

Otherwise, the tax policy points will be similar to those indicated for the simplified tax system for “income”.

How are changes in accounting policies reflected?

According to clause 11 P(S)BU 6

accounting policies apply to events and transactions from the moment they occur.
In this regard, paragraph 12
of this
standard
requires reflecting the impact of the revision of accounting policies on events and transactions
of previous periods in the financial statements, i.e., the impact of the revision is reflected retrospectively. This is done by:
- ​​adjusting the balance of retained earnings at the beginning of the reporting year;

— repeated provision of comparative information about previous reporting periods.

But prospective application of the changes is also possible. In this case, new accounting rules are applied only from the moment at which changes in accounting policies occur, and no procedures for adjusting financial indicators in financial statements for previous periods are carried out.

This is allowed if:

(1) the amount of adjustment to retained earnings at the beginning of the reporting year cannot be determined reliably ( clause 13 P(S)BU 6

);

(2) changes occur in accounting estimates.

An accounting estimate is a preliminary estimate that is used by an enterprise to distribute expenses and income between relevant reporting periods.

In practice, it is sometimes difficult to distinguish between a revision of accounting policy and a change in accounting estimates. If it is not possible to distinguish, treat and record it as a change in accounting estimates.

For example, the Ministry of Finance ( letter dated November 2, 2009 No. 31-34000-20-23-5535/5708 )

proposes to consider
a revision of the depreciation method for non-current assets as a change in accounting estimates. This means that in this case to recalculate previously accrued depreciation !

OSNO accounting policies

One of the main points of tax policy under OSNO is accounting for income tax. The document should reflect:

• procedure for recognizing direct and indirect expenses of an enterprise (cash or accrual method),
• the procedure for accounting for fixed assets, whether increasing coefficients are used for depreciation, depreciation bonus, for which objects,
• methods for assessing materials, raw materials and goods,
• Are reserves formed to evenly distribute expenses throughout the year (vacations, bad debts, OS repairs, etc.),
• accounting for transactions with securities,
• in what order is income tax and advance payments on it calculated and paid,
• applicable tax registers, etc.

The specifics of VAT accounting when developing accounting policies should be pointed out to those who are exempt from tax or who carry out transactions taxed at a rate of 0% - this concerns the order of distribution of “input” VAT.

How to make changes to accounting policies?

An enterprise can change its accounting policies at its own discretion during the reporting year (of course, if there are grounds for doing so). This was indirectly confirmed by the Ministry of Finance in paragraph 3.2 of Method of Recommendations No. 635

, where it is said that accounting policies can be changed,
usually from the beginning of the year.
That is, it is understood that there may be exceptions to this rule.

If there are such grounds, the enterprise may:

— or make changes and additions to the current order;

- or state the order in a new edition, taking into account the changes and additions that have occurred.

UE for accounting purposes

On December 6, 2011, Federal Law No. 402 “On Accounting” was adopted, which ensures freedom of primary accounting forms. After this, the Federal Tax Service began to develop forms of electronic documents. Now organizations can switch to electronic documentation. However, in this case they are required to make changes to their CP.

How to change accounting policy ?

On July 1, 2021, electronic forms such as TORG-12 and the service acceptance certificate became irrelevant. The forms of invoice and acceptance certificate established by the order of the Federal Tax Service No. ММВ-7-10 / [email protected] dated November 30, 2015 have been introduced. Now firms must use new forms of UPD, UCD, and invoices. This also applies to adjustment invoices. Consequently, accounting policies regarding the use of forms that are no longer relevant need to be changed.

What needs to be taken into account in the accounting policy in order to switch to IFRS ?

Let's consider what needs to be added to the UE when using electronic documentation:

• It is necessary to indicate that the company will use electronic forms.
• List of documents that will confirm business transactions.
• The procedure for establishing the moment of creation of papers for accounting and tax purposes. It is necessary to clarify the procedure in the event that the operation was performed on one date and the signature on another.
• Primary forms used, including electronic forms.

The recommendations considered are relevant for legal entities that use EDI.

Question: The organization has changed its director and chief accountant since 02/01/2020. Is it necessary to make changes to accounting policies in this regard? If necessary, what date? View answer

Tax UP

In 2021, there were practically no significant innovations in the field of tax accounting. However, there are some changes. Let's look at their list:

• Accounting for expenses for purchasing an OS. The list of objects for which accelerated depreciation can be used has increased. This is relevant for items that began to be used after the beginning of 2021. From 2021, entities can reduce their income tax by investment deduction. When using such a deduction, you need to prepare all the necessary documents and explanations. They may be requested during verification.
• Accounting for R&D expenses. Additions were made to the rules for accounting for R&D expenses based on Federal Law No. 166 of July 18, 2017. The list of expenses has been expanded with new items. The procedure for recognizing R&D expenses, established by Government Decree No. 988 of January 24, 2008, was also clarified. The innovations concern the list of objects that can be taken into account when taxed with an increasing coefficient. Expenses according to the List with a coefficient of 1.5 form the initial cost of depreciable assets. The chosen cost recognition method must be recorded in the UE.
• The law is 5% for separate accounting of input VAT. Federal Law No. 335 “On Changes to the Tax Code” comes into force. He introduced amendments relating to organizations with VAT-taxable and non-VAT-taxable transactions. If expenses on non-taxable activities do not exceed 5% of the total total expenses, you do not need to carry out separate accounting. The entire amount of VAT is deductible. The implementation of the 5% rule obliges firms to maintain separate accounting for input VAT. However, practitioners can still deduct all VAT on products purchased at the same time.

Any innovations in accounting must be reflected in the UE.

For budget entities

Previously, budgetary organizations used instructions approved by Order of the Ministry of Finance No. 157n dated December 1, 2010. However, this instruction has now been updated. The names of a number of accounts have been changed. New accounting accounts have appeared. In 2021, the working chart of accounts needs to be supplemented with account 206 61 “Calculations for advances.”

Changes in tax accounting

In 2021, the list of income not taken into account when determining the tax base includes these items:

• Receipts discovered after inventory of rights based on the results of intellectual activity.
• Contributions to the main forms of legal entities (clause 1 of Article 251 of the Tax Code of the Russian Federation).

The income of non-profit organizations providing financial support for the renovation of apartment buildings is excluded from the temporary placement of assets. When adjusting the UE in the area of ​​calculating the profit base, it is necessary to remove the property tax, since benefits no longer apply to it. The exception is the availability of benefits provided on the basis of regional laws.

Samples of accounting policies for 2021

Accounting policy is an important component used in the simplified taxation system for 2021.
In written form, the accounting policy is documentation that shows all possible options for organizing the company's accounting. 02/01/2016
Today, the requirements and conditions by which the accounting policy of an enterprise is regulated and fully disclosed are described in PBU 1/2008. This provision provides the following information:

• accounting chart of accounts, which is used by accountants when preparing transactions and financial statements;
• forms of primary papers, accounting registers, documentation regarding accounting;
• a set of sequential measures that allow different options to properly assess the assets and liabilities owned and assigned to the organization;
• requirements for document flow and information processing technology regarding accounting;
• orderly and consistent control and audit of all business transactions carried out by the enterprise during the implementation of its economic activities for the reporting period;
• other decisions without which the correct organization of accounting is impossible.

In accounting and tax accounting, it is important to timely and fully reflect all changes and facts of the organization’s economic activity; delays in submitting documentation are not allowed; penalties and interest are provided for any delays.

In the event that an enterprise, in addition to being on the simplified tax system, belongs to the list of those engaged in small business, the organization can claim the opportunity to simplify the options for organizing accounting. If a company is subject to simplification, the accountant must mention this in the necessary documentation, and this accounting policy must henceforth be used annually.

Justified reasons for making changes to accounting policies may include:

• changes in the requirements specified by Russian legislation, standards at the level of the federal industrial structure;
• development, implementation or selection of an updated version of accounting, if its use will make it possible to improve the quality of information provided about the accounting object;
• tangible changes in the activity options of an economic entity.

If it is customary to make changes to the structure of accounting policies, this should be done at the beginning of the year. Changes come into force as soon as written consent is given by the head of the enterprise, i.e. will issue an appropriate order with the necessary text. So, in order to avoid any problems with the tax inspectorate, changes in accounting policies that involve work in 2021 are best carried out according to the documents at the end of the reporting year 2015.

What points are desirable to be reflected in the accounting policies that are relevant to organizations conducting accounting using the simplified tax system in 2016?

1. The use of a reduced number of synthetic accounts in the accepted planning of accounting accounts in comparison with the Chart of Accounts, which were confirmed by order of the Ministry of Finance of Russia back in 2000 and are valid until 2021.

Basic provisions for an accountant submitting reports for the 1st quarter of 2021

• Firstly, it is imperative to familiarize yourself with the new list of BCCs and download them.
• Secondly, it is impossible to avoid mistakes without knowing the exact deadlines for submitting financial statements in 2021.
• FSS benefits.
• It is required to confirm the main type of economic activity of the enterprise in the Social Insurance Fund service.
• And finally, you cannot do without understanding exactly what reporting documents should be provided to the statistical authorities as of the 1st quarter of 2021.

2. Do not use PBU 2/2008 under the name “Accounting for construction contract agreements”, put into effect by order of the Ministry of Finance in 2008.

3. Do not show estimated, contingent liabilities and assets in accounting, do not create reserve amounts for future expenses, for example, for possible payment of vacation days to employees, payment of remuneration amounts based on the organization’s performance for the last calendar year, this may also include a guarantee maintenance or repairs performed under warranty.

4. If there is no basic information, without understanding of which it is not possible to assess the financial condition or results of operations of the enterprise, accounting documentation should be generated in such a way that the reduced volume includes:

• Form No. 1 – balance sheet, without which accounting essentially does not exist;
• a report that reflects all types of business activities, works and services during the current reporting period.

5. Reflect in the balance sheet and income statement values ​​solely by category of items without listing detailed information on the accounts.

6. Leave information regarding related parties inaccessible in reporting documentation.

7. Do not provide information regarding the type of economic activity of the subject being terminated.

8. Describe in the accounting documentation the consequences that will follow changes in the accounting policies of the enterprise, which may have or have already had a certain impact on the financial condition of the business, have allowed new financial results to be obtained, or will still allow in the future.

9. Make corrections to errors made if they are of great importance for the accounting of the previous year, identified later. In this case, a retrospective recalculation is not required.

10. Enter a list of primary accounting documentation that is used to reflect the economic activities of the organization. Today there is no need to fill out absolutely all available ones; the law does not provide for this, so the entrepreneur is given the right to choose, having certainly received advice from tax officials before doing so. Only cash documents remain mandatory.

The list of primary documentation is drawn up and certified by the head of the company himself; a list of positions and specific individuals who can sign primary documents in the absence of the founder is also indicated here. All rights of these subjects are specified in part 1 of Article 7 and Article 9 of Law %402-FZ.

An example of registration of accounting policies according to the simplified tax system as of 2021

Astra LLC

Order No. 23

on approval of accounting policies for accounting purposes

St. Petersburg 12/29/2015

1. Approve the accounting policy for accounting purposes as of 2016 in accordance with the appendix.

2. Control over the implementation and execution of the order is assigned to the chief accountant A.V. Petrov.

Director V.K. Smirnov

Appendix to the order dated December 29, 2015 No. 23

Accounting policies for accounting tasks

The accounting policy for solving accounting problems is formed on the basis of the Law “On Accounting”, which was published in 2011, and is supported by a number of equally important Regulations, a Chart of Accounts and Instructions for its correct use.

According to the stated legislative acts, the accounting policy includes the following principles and components:

1. Accounting is organized by a special department, a division that exists in every enterprise. This important structure is headed by the chief accountant.

2. Double entry is used in accounting. What does it mean? Any change in the expenditure part is reflected on 2 lines at once, which allows you to achieve a holistic balance of components.

3. Accounting is always subject to and corresponds to the Chart of Accounts, which are indicated in Appendix 1.

4. If changes in accounting policies are coming, they should be shown point by point and sequentially.

5. Separate employees or divisions are not needed to maintain a separate balance sheet.

6. Primary reporting forms are always constant and developed in a single format.

7. People holding certain positions can claim the right to sign documents if their superiors are absent. Their list is included in Appendix 2.

8. The accounting register is the Business Accounting Book, indicated in the Appendix, which also describes the current principles of accounting policy in the organization.

9. It is customary to take 1 calendar month as the reporting period.

10. How significant the level is is indicated in the amount of 5% of the total size of the object for which accounting is kept, or the corresponding accounting item.

11. If there is a need to get rid of an error made in the last reporting period, identified by the accountant independently, it is necessary to make an appropriate entry in the current statements, where the necessary entries and accounts are indicated.

12. As for the inventory, which affects the property and liabilities of the organization, it is initiated at least once a year and is a preparatory stage for drawing up a balance sheet for the year.

13. There is no need to revaluate fixed assets.

14. An object accepted by an accountant on the balance sheet is always considered a fixed asset, but only if it is used in the statutory work of the enterprise or for the needs of management and control.

In this case, pay attention to the conditions:

• the object must be suitable for use over a long period of time, for a period of 1 year or more;
• the company is not considering selling the property in the future;
• the price of the object in the form in which it arrived at the organization is more than 40,000 rubles.

15. How long fixed assets can be used is indicated in the 2002 Classification of Fixed Assets.

16. Depreciation calculations are carried out without taking into account reduction factors.

17. Depreciation is calculated using the straight-line method.

18. If the property has been registered with the enterprise for more than 1 year, and its original price was 40,000 rubles, write-off occurs gradually.

19. Costs related to property repairs are included in the organization's costs, but they never include costs for regular, planned repairs required by technological requirements.

20. Inventory in the warehouse is distributed to account 10.

21. Finished products should be charged to account 41.

22. The number of each individual material stock is taken as the unit of inventory calculation.

23. Purchased inventories are carried taking into account the actual cost, account 16 does not apply.

24. If inventories are removed from accounting, they should be reflected in accounting based on the average cost.

25. The cost price for inventories is the price at which the property was purchased from the supplier; it is advisable to confirm the cost with a document.

26. The cost also includes transportation and procurement costs.

27. There is no need to reflect the revaluation of intangible assets.

28. If an intangible asset has depreciated, there is no need to show this on the accounts or balance sheet.

29. Depreciation in the context of intangible assets is shown in the same way as depreciation of tangible assets.

30. Expenses related to the production and sale of goods and services are allocated to account 20.

31. Accounts receivable and payable should be included in account 76.

32. Debt obligations are a type of other costs.

33. The volume of money supply located in bank accounts is assessed in account 51.

34. Capital accounting is possible using account 80.

35. Revenue is determined in accordance with the procedure for receiving money from customers or clients, if the basic conditions described in categories a, b, c and d of paragraph 12 of PBU 9/99 are met.

36. Accounting for the results of a company’s economic activities includes reflection on account 99.

37. If there is a formalized and signed agreement regarding a construction contract, the profit and cost part are provided without the use of PBU 2/2008.

38. Investments assume the unit of accounting policy is a series.

39. Expenses received as a result of the acquisition of financial investments, in value less than the level of materiality fixed in paragraph 10 of the current accounting policy at the enterprise, are classified as other expenses.

40. The current market price of financial investments, on the basis of which the market valuation is determined, is subject to adjustments and changes every 3 months.

41. If it is impossible to understand the market price from financial investments, then the investments must be displayed in accounting, focusing on the reporting number for the primary cost.

42. The cost of financial investments takes into account each unit separately.

43. The extent to which financial investments have lost weight must be monitored annually; this is done with the aim of timely formation of a reserve.

44. Contributions to the reserve for doubtful debts are made every quarter.

45. There is no need to create a reserve for future vacation pay for employees.

46. ​​PBU 18/02 is not valid.

47. PBU 11/2008 is not used.

48. PBU 16/02 does not apply.

49. Those persons who have the right, on the instructions of their superiors, to receive accountable money are included in Appendix 3. Advance accounts are generated and then shown no later than 30 calendar days. When the employee returns home, within 3 days he is obliged to submit a report on expenses to his superiors.

50. The schedule for the movement and display of documents is determined by the order of the head of the organization. The chief accountant is responsible for maintaining the schedule.

51. The preparation of interim reporting and documentation for the year involves the use of balance sheet report forms according to Form 2.

52. Mandatory documentation, at the request of the owner, can be supplemented with additional papers, for example, a report on changes in capital and on the movement of money supply. Such documents help to create a more complete picture of the organization’s current financial position.

Chart of accounts for an accountant

List of persons who can receive accountable funds

Accounting policy according to the simplified tax system

Tax records are maintained by all entrepreneurs and organizations that fall under the simplified taxation system. First of all, this is beneficial for small businesses themselves, because tax accounting allows, in a number of cases, to defend the accepted accounting procedure.

The tax accounting policy, as well as the accounting policy, is approved exclusively by the manager. How to fill out an order is presented below.

LLC accounting policy for 2021 under the simplified tax system for income, sample

Limited Liability Company "Alfa"

ORDER No. 125

on approval of accounting policies for tax purposes

Moscow 12/31/2015

In order to organize tax accounting at the enterprise

I ORDER:

1. Approve the developed accounting policy for tax purposes in accordance with

Appendix 1 to this order.

2. Apply accounting policies for tax purposes in work starting January 1, 2016

of the year.

3. Entrust control over the execution of this order to the chief accountant

A.S. Glebov.

General Director A.V. Lviv

The order was reviewed by: A.S. Glebova

31.12.2015

Ideally, the tax accounting policy should be drawn up within the same time frame as the accounting is drawn up; it is preferable not to delay the procedure and invest in the 90-day period for the official registration of the organization. Tax accounting policies do not require annual revision and approval, although if changes are planned, they must be certified by an appropriate document. The document officially signed and certified by the authorities comes into force on January 1.

If you have formed new types of business activities, write them down in additions to the main document on the tax policy of the enterprise. In accordance with current legislation, such additions do not qualify as changes, so there is no need to wait for a specific date; make them as you wish. But you still have to draw up an order.

The fundamental documents on which the tax accounting policy is based are the tax legislation of Russia.

What should be in a document to determine the specifics of tax policy?

1. Issues that are not covered by legislation. For example, a sequence of actions that will help to correctly distribute costs that are not related to work on the simplified tax system or UTII. There is no need to invent anything on your own; rely on the recommendations of employees of regulatory and audit institutions, and judicial practice.

2. Consistent order of formation and accounting of objects and business operations, choose the optimal method.

3. It is necessary to take into account those options that describe actual liabilities and assets. There is no need to rewrite all the methods proposed by law; the choice of method is up to the accountant and the head of the enterprise.

Appendix 1 should be attached to the order, which describes the accounting policy that solves the main tax problems of this company.

Accounting policies for solving taxation problems

1. Tax accounting is carried out by the chief accountant and the department subordinate to him.

2. The amount of the single tax is calculated based on the object as profit.

3. The book in which the expenditure and profit parts are recorded determines the tax base relating to the single tax. But the property is not shown in this book

4. The book is maintained using the computer program “1C: USN”.

5. Each individual business transaction is carried out in the accounting book and is simultaneously entered into the primary documentation.

6. Tax accounting policy does not require the reflection of profits and costs from the revaluation of property if they are presented as currency values.

7. The amount of the advance payment must be reduced by the amount of contributions regularly transferred to the accounts of state insurance funds.

Features of the accounting policy under the simplified tax system “profit minus costs” for 2021

IP Petrov K.L.

Order No. 7

on approval of accounting policies for tax purposes

Kamenets-Podolsky 12/20/2015

I ORDER

1. Approve this tax accounting policy for tax purposes as of 2021, based on the application.

2. I reserve control over the execution of the order.

IP Petrov K.L.

Appendix 1 should be attached below, in which it is necessary to describe the important components of tax policy:

1. explain the accounting policy itself.
2. establish the procedure for accounting for property subject to depreciation and depreciation;
3. keep records of inventory items owned by the organization;
4. expense accounting;
5. determine the features of accounting for the unprofitable part.

Accounting policies for solving taxation problems

1. Tax accounting is carried out personally by an accountant.

2. The object of taxation is used as the difference between profits and costs.

3. The accounting book is compiled using automated 1C.

4. The accounting book is comparable to the primary reporting data, which reflects all business transactions.

Accounting policy for depreciable assets

5. The primary value of a fixed asset in material equivalent is indicated in the amount of expenses actually incurred for its purchase, production, arrangement in the sequence specified in the legislation.

6. If the fixed asset is paid for, the primary price, together with the costs of its equipment, is included in the book of income and expenses in equal parts, starting from the quarter when the fixed asset was put into operation until the end of the calendar year.

7. The part of the price of a fixed asset purchased during the operation of the simplified tax system, which is recognized in a given period, is calculated by dividing the primary cost by the number of quarters that remain until the end of the year, including 3 months, when the rules and requirements for writing off the price of the object are met in the amount of costs.

Accounting for inventory items

8. Material costs consist of the cost of purchasing materials, costs of bonuses issued to employees, customs duties, transportation costs, as well as losses incurred from the need to use computer and information services. VAT withheld on the purchase of inventories should be entered in a separate column when they are recognized as materials included in expenses.

9. Material costs are taken into account as payment is made and are subject to adjustment for the price of materials not yet applicable in commercial activities.

10. Expenses associated with fuel and lubricants are taken into account according to the norm in material costs.

11. Standards for recognizing costs for fuel and lubricants are distributed and indicated in the order of travel; the basis for drawing up documentation is waybills. The amounts entered into the book cannot exceed the established limits.

12. The price of products purchased for subsequent sale is indicated based on the purchase price in accordance with the concluded agreement.

13. The price of goods put up for resale is included in expenses as the products are sold; the chosen valuation method is the average cost.

14. VAT is also described as goods are sold.

15. Costs related to the purchase of products are recorded as expenses as the debt is actually repaid.

16. An entry in the accounting book is made based on a payment order or invoice for the release of products to the client.

Cost accounting

17. Costs associated with storage and transportation of products to the buyer are classified as sales costs. This also includes losses incurred as a result of paying rent, arrangement of premises, and advertising expenses.

18. Expenses involved in the calculation of the single tax are reflected every quarter (except for the cost of fuel and lubricants) on an increasing basis. Adjusting entries are posted in the ledger.

Accounting for losses

19. An individual entrepreneur reduces the tax base for a given reporting period by the full amount of expenses for the previous 10 tax periods. The unprofitable component does not turn into the amount of income when the amount of the single tax does not exceed the limits of the minimum tax paid.

20. The individual entrepreneur claims in expenses the difference between the amount of tax paid at the minimum and the tax amount calculated according to the usual procedure. It also overstates the loss amount that remains for the future.

The initials of the individual entrepreneur are placed at the end of the application. At this point, the approval of the accounting policy for accounting and taxes can be considered complete.

Post:

Comments

Nina

March 15, 2021 at 9:50 am

Approximate position on accounting policies in PMS (production reclamation systems) for 2021