The reflection of profit and loss in the accounting of an enterprise is one of the main operations, since unprofitable activities can become the reason why the company may be subject to an on-site audit by the tax office.
Instructions
Step 1
Reflect the financial result of the accounting period in the balance sheet as retained earnings, or rather as the financial result minus taxes and related payments. Close account 99 at the end of the year by writing off the received financial result of the enterprise to the 84th. Show the net profit / loss for the period on page 190 of the corresponding profit / loss statement.
Step 2
Calculate net income using the following formula: profit before tax minus contingent tax expense and permanent tax liability. Form the amount of income tax on the debit and credit of account 68 for the reporting period. Please note that the balance on account 68 ("Income taxes") must be either zero or credit.
Step 3
To bring accounts 68 and 99 into line, enter an additional account in which the difference between deferred tax liabilities will be determined. To do this, use a subaccount to account 76, which is called "Additional income tax".
Step 4
If you have an excess of deferred tax assets over deferred liabilities, record this in debit posting 99 Profit and Loss and Accounts receivable.
Step 5
Reflect also in the statements of profit and loss the following points: the amount of the permanent tax liability, the contingent expense for income taxes, temporary and permanent differences that arose in the reporting period and led to an adjustment of the contingent expense / income for tax, as well as the reasons for the change in tax rates in comparison with the previous period.
Step 6
Take part of the expenses, if there are many of them, to account 97, "Deferred expenses". In this case, you can gradually write off the costs related to direct costs of the enterprise. It is also necessary to justify the occurrence of losses and give specific reasons, for example, difficulties in selling their products, falling demand and lower prices.
