Other income of the organization and their reflection in accounting accounts and reporting. Other income What is other income

Along with income and expenses for ordinary activities, the accounting of any company identifies other income and expenses that are not directly related to the sale of goods, work or services. The organization accounts for other income and expenses on the basis of separate paragraphs of PBU 9/99 and PBU 10/99, approved by orders of the Ministry of Finance dated May 6, 1999 No. 32n and 33n, respectively. Both of these documents have a later revision dated April 6, 2015.

Accounting for other income

So, other income includes, according to paragraphs 15-16 of PBU 9/99, the following types of income:

• proceeds from the sale of fixed assets and other assets, not counting cash, products, goods,
• interest on loans provided to other companies,
• received amounts of fines, penalties, penalties for violation of contract terms, as well as compensation for losses caused,
• amounts of accounts payable and depositors with expired statute of limitations,
• the amount of revaluation of assets,
• other receipts not related to the main activity - as they are identified or formed.

This list of income is always included in other income. At the same time, it is possible to identify such income that can relate to both main income and income from other activities - depending on the scope of the company’s work. Other income of an enterprise includes, for example, income from the rental of property or license fees, as well as income from participation in the authorized capital of other organizations. Such income will fit into the definition of ordinary income if such areas are the subject of the main activity of the company, or will be considered other income if the main direction of the organization’s work is not related to such types of activity.

Other income in accordance with paragraphs 12 and 16 of PBU 9/99 is recognized in the reporting period in which they occurred. In this case, the date of actual receipt of funds for them does not matter. Factors that are important are the right to receive proceeds, a certain amount of it, confidence that this amount will be transferred to the organization, the transfer of ownership of the product or service (if any in the situation under consideration), as well as the ability to determine the amount of associated expenses. However, there is a certain exception regarding companies that have the right to use simplified accounting methods and prepare simplified financial statements. If such a company uses, according to its accounting policy, the notional cash method in relation to accounting, then the date of recognition of other income will be the date of receipt of the corresponding amounts to the current account or cash desk of the enterprise.

Composition of other expenses

Other expenses in accounting are a list of costs defined in paragraph 11 of PBU 10/99. Thus, other expenses of the enterprise include:

• expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash, goods, products;
• interest paid on loans and borrowings received;
• bank expenses;
• contributions to valuation reserves created in accordance with the requirements and rules of accounting legislation, in particular reserves for doubtful debts;
• fines, penalties, penalties imposed on a company if it violates the terms of contracts;
• compensation for damages caused;
• losses of previous years recognized in the reporting year;
• amounts of receivables with an expired statute of limitations;
• exchange differences;
• the amount of asset depreciation;
• transfer of funds to charity, as well as costs associated with holding sporting events, recreation, entertainment, cultural and educational events;
• other expenses.

By analogy with other income, other expenses in some cases can be determined alternatively, that is, included in the costs of ordinary activities. We are talking, in general, about identical points: costs associated with leasing the organization’s property, providing for a fee the rights to use various types of intellectual property and participating in the authorized capital of other organizations. Such costs are either expenses for ordinary activities or other, depending on whether the corresponding line of business of the company is declared as a priority.

Other expenses in accordance with paragraph 18 of the same PBU 10/99 are usually also recognized in the reporting period in which they occurred, regardless of the date of actual payment of funds for them. For companies maintaining simplified accounting, there is a traditional exception - they can reflect expenses both for main activities and others, based on the date of repayment of the relevant debt.

Reflection of other income and other expenses in accounting

Accounting for other income and expenses is kept on account 91 of the Chart of Accounts. In this case, other income is recorded as a credit to subaccount 91.01 in correspondence with various accounts, and postings for other expenses are recorded as a debit to subaccount 91.02.

Example

During the 4th quarter of 2016, Alpha LLC, operating within the framework of the general taxation system, carried out the following types of transactions, which are accounted for as other income and expenses:

1. Leasing a warehouse space (this type of activity is not the main activity of the company, so this is other income), with a monthly rental amount of 20,000.00 rubles, including VAT of 3,050.85 rubles. The amount of monthly depreciation for this property is 4,500.00 rubles. Utility costs are 2,150.00 rubles.
2. The amount of monthly banking services for the company's current account is 3,500.00 rubles.
3. On November 5, an inventory of the remaining materials in the warehouse was carried out, as a result of which a surplus was identified for a total amount of 12,350.00 rubles.
4. On November 16, a trial took place, as a result of which the arbitration court issued a ruling awarding Alfa LLC compensation for violation of contractual obligations by the contractor in the amount of 30,000.00 rubles.
5. On December 6, the founder of Alpha LLC provided the organization with an interest-bearing loan at 6% per annum. The amount of interest on the loan for December amounted to 1,010.00 rubles.
6. On December 9, the statute of limitations expired (3 years) for debt in favor of Alpha LLC for goods shipped but not paid for. The cost of the sold batch was 25,000.00 rubles. The company did not create a reserve for doubtful debts.
7. On December 22, the company transferred 100,000.00 rubles in favor of a charitable foundation, which is confirmed by the corresponding letter and agreement of intent to transfer the specified amount, signed on the same date.

During the quarter, the accountant of Alpha LLC will reflect other income and expenses in the accounting records with the following entries:

date	Debit	Credit	Sum
				Calculation of rent for October
				Materials identified during the inventory that were not previously reflected were taken into account
				The amount of compensation for violation of contractual obligations receivable is reflected
				Calculation of rent for November
				VAT is charged on the rental of property
				Depreciation has been calculated on the property
				The amount of utility payments has been accrued under the agreement with the service operating company
				Expenses for monthly banking services for a current account
				The amount of receivables that have expired has been written off
				The amount of charitable assistance in favor of the charitable foundation has been determined
				Calculation of rent for December
				VAT is charged on the rental of property
				Depreciation has been calculated on the property
				The amount of utility payments has been accrued under the agreement with the service operating company
				Expenses for monthly banking services for a current account
				The amount of interest on the loan from the founder is reflected

Write-off of other income and other expenses

The total for subaccounts 91.01 and 91.02 is accumulated throughout the year, so other income does not decrease on its own due to other expenses. These are two separate cumulative totals that do not intersect until a certain point. Other income and expenses are written off by posting to account 91.09 (D 91.01 - K 91.09 and D 91.09 - K 91.02). It is in this subaccount that the balance between the two indicators of other income and other expenses is reflected. Then, at the end of the year, when reforming the balance sheet, the balance of other income and expenses is written off by posting D 91.09 - K 99 - if the amount of other income during the year turned out to be higher than other expenses, or D 99-K 91.09 - if the amount of other expenses was higher.

Account 99 forms the total for the company’s activities as a whole, that is, it reflects not only the balance of other income and expenses, but also income and expenses for main activities. The final indicator will ultimately be reflected in the financial statements as an indicator of the company’s profit or loss for the year.

Account 91 of accounting is an active-passive account “Other income and expenses”, it is used to obtain information about the expenses and income of the enterprise for activities that are not the main one. Using standard postings and practical examples, we will consider the specifics of using account 91 and the features of accounting for other income and expenses.

A complete list of other income and expenses can be studied in the order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n.

The “Other income and expenses” account is active-passive. The credit of the account reflects the receipt, and the debit records the expense:

The main subaccounts for 91 accounts are presented in the figure:

The purpose of analytical accounting for 91 accounts is to provide the ability to determine the financial result based on each type of income and expense. Therefore, when classifying income and expenses, it is necessary to take into account the homogeneous type of costs to ensure the possibility of determining the financial result for each operation of the same type.

For example, amounts under the article “Fines and penalties for contractual obligations” can be attributed to both expenses and income, therefore, the financial result under this article can be analyzed. Or, by analyzing the expense item for paying for the services of credit institutions, the enterprise will be able to see the effectiveness of working with the bank, whether the bank’s “products” are beneficial to the enterprise.

Closing 91 accounts

All subaccounts under the “Other income and expenses” account at the end of the year: balance for December, internal records - must be closed by posting to subaccount 91.09.

The financial result is credited to the debit (loss) or credit (profit) of account 99 “Profits and losses”.

Here is a schematic example of closing 91 accounts:

Postings to 91 accounts “Other income and expenses”

Correspondence and main transactions for 91 accounts are shown in the table:

Examples of transactions and postings for 91 accounts

Example 1. Accounting for other rental income on account 91.01

Let's say Leto LLC, with its main activity in the production of confectionery products, receives income from renting out premises in one of the industrial buildings. The tenant of “Vasilek” pays 50,000 rubles monthly, according to the concluded agreement. Payment for rent was credited to the account in the amount of 50,000 rubles.

The amount of monthly expenses incurred by Leto LLC for maintaining the premises consists of:

• depreciation charges - 2,000 rubles;
• wages for service personnel - 8,000 rubles;
• wage taxes - 1,500 rubles;
• utilities and other services - 3,000 rubles.

Based on the results of November 2016, the following entries were made in the accounting department of Leto LLC:

Example 2. Accounting for other income from the sale of materials on account 91.01

Let’s assume that Leto LLC sold other materials not used in the production of confectionery products. Wherein:

• sales cost - 40,000 rubles;
• cost of materials - 15,000 rubles;
• salary and taxes on wages for production workers - 4,000 rubles.

Accounting for other income from materials sold was reflected in the accounting of Leto LLC with the following entries to account 91:

Example 3. Accounting for banking services on account 91.02

Let’s say Leto LLC has entered into an agreement with a bank for the provision of services. At the end of the month (reporting period), the bank provided the following services:

• for installation of the “Bank-Client” system for a period of 3 years (one-time service) - 7,000 rubles;
• for “Bank-Client” service (monthly service) - 400 rubles;
• for settlement and cash services (RKO) - 2,000 rubles;
• for cash collection - 6,000 rubles.

In the accounting of Leto LLC, entries were made to reflect banking services.

The list of operating income is given in paragraph 7 of PBU 9/99. Operating income in In accordance with it, receipts related to the following types of activities that are not the subject of the organization’s activities are included:

· rent - revenues associated with the provision for a fee for temporary use (temporary possession and use) of the organization’s assets;

· license payments - revenues associated with the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;

· income related to participation in the authorized capitals of other organizations (including interest and other income on securities).

In addition to the above income, operating income includes:

· profit received by the organization as a result of joint activities (under a simple partnership agreement);

· interest received for the provision of an organization’s funds for use, as well as interest for the bank’s use of funds held in the organization’s account with this bank.

Rent and license payments in accordance with paragraph 15 of PBU 9/99 are recognized in accounting based on the assumption of temporary certainty of the facts of economic activity and the terms of the relevant agreement.

The assumption of temporary certainty of the facts of economic activity means that the facts of economic activity are reflected in the accounting and reporting of the reporting period in which they took place and to which they relate, regardless of the actual time of receipt or payment of funds associated with these facts. The “accrual principle” corresponds to the assumption of temporary certainty of the facts of economic activity. The right to use the so-called “cash method” for accounting purposes can only be granted by the Ministry of Finance of Russia through direct personal permission.

The procedure for recognizing rent and license payments is similar to the procedure established for recognizing revenue in paragraph 12 of PBU 9/99. In accordance with this procedure, accounting also recognizes:

· proceeds from the sale of fixed assets and other assets other than cash (except foreign currency), products, goods;

· interest received for the provision of funds to the organization for use, while interest for accounting purposes is accrued for each expired reporting period in accordance with the terms of the agreement;

· income from participation in the authorized capitals of other organizations (see paragraph 5 of PBU 9/99).

Article 138 of the Civil Code of the Russian Federation, in cases and in the manner established by the Civil Code of the Russian Federation and other laws, recognizes the exclusive right (intellectual property) of a citizen or legal entity to the results of intellectual activity and equivalent means of individualizing a legal entity, individualizing products, work performed or services.

The use of the results of intellectual activity and means of individualization, which are the object of exclusive rights, can be carried out by third parties only with the consent of the copyright holder.

Thus, in accordance with Article 138 of the Civil Code of the Russian Federation, the exclusive rights of owners to intellectual property are recognized as intangible assets. The exclusivity of rights lies precisely in the fact that these rights can be used by third parties only with the consent of the copyright holder.

The results of intellectual activity (“intellectual property”) include three types of objects that have different legal regimes:

1) results of creative activity protected by patent law (inventions, utility models, industrial designs);

2) means of individualization of a legal entity, products, work or services performed (company name, trademark, service mark, name of place of origin of goods);

3) results of creative activity protected by copyright (works of science, literature and art, computer programs, databases, topologies of integrated circuits, etc.).

The listed objects have different legal regimes. One part of the objects (industrial property and means of individualization of a legal entity) is regulated by patent law, the other (works of science, literature and art, and much more) by copyright law. The difference is that copyright is aimed at protecting the company's object (work), while patent law protects the content of the work.

To protect inventions, utility models, industrial designs, trade names, trademarks, service marks, their registration is required according to a certain procedure with the relevant authorities, and for an object of copyright no registration is required. The author only needs to express his work in any objective form that allows him to reproduce the specified object.

The procedure for reflecting in accounting transactions related to the transfer of rights to the results of intellectual activity depends on the agreements concluded between the copyright holder and the user:

ü concessions;

ü licensing agreements (exclusive, non-exclusive, open license);

ü commercial concession agreements.

When one organization transfers the exclusive right to use the results of intellectual activity to another organization not completely, but partially, the use of the intellectual property object in the activities of the Russian organization does not stop, therefore, the intangible asset continues to bring economic benefits (income) and is not written off from the organization’s balance sheet. To be reflected in accounting, it is necessary to provide a separate subaccount for the account “Intangible assets transferred for use” in the analytics.

In accordance with PBU 9/99, income is classified depending on its relationship to the subject of activity.

If the granting of rights to intellectual property objects for temporary use (temporary possession and use) is not related to the main activities of the organization, the income received is classified as operating income.

The reflection of transactions under the agreement in the accounting records of the copyright holder depends on the type of payments.

If the provision of rights to use is provided for under a license agreement for a certain time period (month, year, several years) subject to the payment of a one-time fee, such payment applies to the entire term of the agreement. Clause 81 of the Regulations on accounting and financial reporting in the Russian Federation, approved by Order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n, establishes that income received in the reporting period, but relating to subsequent reporting periods, is reflected in the balance sheet as a separate item How . The chart of accounts for accounting the financial and economic activities of an organization and instructions for its application, approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n, for accounting for this type of income defines account 98 “Deferred income”, subaccount 98-1 “Income received in account of future periods."

These incomes are subject to inclusion in the income of the current period upon the onset of the reporting period to which they relate.

In the case where the granting of intellectual property rights is not related to the main activities of the organization, the income received is classified as operating income.

Thus, during each month during the validity period of the license agreement, income is recognized in accounting in the form of the corresponding part of the lump sum remuneration under the specified agreement, and is reflected depending on the classification of this income.

If license payments (royalties) are periodic in nature, rights are transferred for a certain time period (month, year, several years) and the agreement establishes the frequency of accrual and payment of royalties, then in the accounting records of the copyright holder, the accrual of royalties is reflected in the following entries:

The commercial concession agreement may provide for combined calculations- one-time payment upon acquisition of non-exclusive rights and periodic payments (royalties) during the period of use.

A lump-sum (one-time) one-time payment is recognized in accounting based on the assumption of temporary certainty of the facts of economic activity and the terms of the relevant agreement (clause 15 of PBU 9/99).

In the situation under consideration, the organization - the copyright holder received from the organization - the user a remuneration in the form of a fixed one-time payment under a commercial concession agreement, the validity period of which is clearly specified.

With such receipt of payments in the accounting records of the copyright holder, transactions under the agreement will be reflected in the following entries:

In civil law, the concept of “dividends” is associated with joint stock companies. This can be seen when comparing Article 42 of the Federal Law of December 26, 1995 No. 208-FZ “On Joint-Stock Companies” (hereinafter Law No. 208-FZ) and Article 28 of the Federal Law of February 8, 1998 No. 14-FZ “On Limited Liability Companies” "(hereinafter referred to as Law No. 14-FZ).

In a joint stock company, dividends represent part of the net profit, which is the actual income of the shareholder. In a limited liability company, such payments are income from participation in the authorized capital of the company.

A joint stock company has the right, based on the results of the first quarter, six months, nine months of the financial year and (or) based on the results of the financial year in accordance with the company’s charter, to make decisions (announce) on the payment of dividends on placed shares, unless otherwise established by paragraph 1 of Article 42 of Law No. 208 -FZ. Such a decision may be made within three months after the end of the relevant period.

In paragraph 1 of Article 28 of Law No. 14-FZ, a limited liability company has the right to make a decision quarterly, once every six months or once a year on the distribution of net profit among the participants of the company.

In the absence of a decision to declare dividends, the company has no right to pay them, and shareholders have no right to demand them.

Dividends are annual and interim. Payment of interim dividends is possible only in cases where there is confidence that the results of the financial year will be positive. Because a situation may arise when interim dividends were paid during the year, but at the end of the year it turned out that the organization ended the year with a loss.

The decision on the payment of dividends (based on the results of any period of the financial year) is made both in a joint stock company and in a limited liability company - the general meeting of shareholders (participants).

The General Meeting in its decision establishes:

· the need to pay dividends;

· their size and form of payment;

· list of persons entitled to receive dividends (this list is compiled as of the date of compilation of the list of persons entitled to participate in the general meeting of shareholders at which the decision to pay dividends is made).

The decision to pay dividends must be documented. Such a document is the minutes of the general meeting of shareholders (participants). Only in accordance with such a document are dividends paid.

According to paragraphs 5 and 7 of PBU 9/99, dividends received are recognized in accounting as part of operating income, provided that participation in the authorized capital of other organizations is not the subject of the activities of the organization receiving the dividends.

The document on the basis of which the organization receiving dividends will reflect these transactions in its accounting records is a copy of the protocol or an extract from it. This document must be certified by the seal and signature of the responsible person of the organization that is the source of income.

Income to be received is reflected in subaccount 76-3 “Calculations for due dividends and other income.” By debiting the specified account in correspondence with the credit of account 91 “Other income and expenses”, subaccount 91-1 “Other income”, dividends received in favor of the organization are taken into account.

Dividends go to the organization minus tax on dividends. In accounting, the receipt of dividends is reflected by the entry:

According to Article 1041 of the Civil Code of the Russian Federation, under a simple partnership agreement (joint activity agreement), two or more persons (partners) undertake to pool their contributions and act together without forming a legal entity to make a profit or achieve another goal that does not contradict the law.

To form a simple partnership, the following condition must be met - to conclude an agreement that establishes the obligations of the parties to each other in relation to:

a) combine your deposits,

b) act together to make a profit or achieve another goal that does not contradict the law.

A simple partnership agreement, an agreement on joint activities, so named by law, is not recognized as such if it lacks at least one of the above elements.

Unlike other types of partnership associations recognized by the Civil Code of the Russian Federation , A simple partnership does not form a legal entity. Without recognizing a simple partnership as a legal entity, the law did not grant it the right to act on a common behalf (the right to a company name). Therefore, in relations with third parties, it is considered as a group of individuals acting under their own names, or through representatives representing them as individually identified persons.

The profit received by the partners as a result of their joint activities is distributed in proportion to the value of the partners' contributions to the common cause, unless otherwise provided by the simple partnership agreement or other agreement of the partners.

Partners are allowed to independently determine the principle of profit distribution. They can be based on both property and personal principles or their combination. Only in the case where the partners have not determined the procedure for the distribution of profits by agreement, the principle comes into force - the distribution of profits in proportion to the value of the contributions.

Profit means the amount by which the partnership’s total assets increased during the reporting period, that is, we can talk about the accounting net profit received as a result of the relevant activities.

The Ministry of Finance of the Russian Federation, by its Order No. 105n dated November 24, 2003, approved the “Accounting Regulations “Information on participation in joint activities” PBU 20/03” (hereinafter referred to as PBU 20/03). This Regulation establishes the rules and procedure for disclosing information about participation in joint activities in the financial statements of commercial organizations, with the exception of credit organizations, which are legal entities under the legislation of the Russian Federation.

Paragraph 14 of PBU 20/03 states that when forming the financial result of a partner organization, profit from joint activities to be received or distributed among the participants is included in operating income.

In accordance with PBU 9/99, profit from joint activities is also recognized as operating income and is reflected in the credit of account 91 “Other income and expenses” in correspondence with the debit of account 76 “Settlements with various debtors and creditors”. The chart of accounts for the financial and economic activities of an organization and instructions for its application, approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94, includes a subaccount 76-3 “Calculations for dividends and other income”, which takes into account calculations for dividends due to the organization and other income, including profits, losses and other results under the simple partnership agreement.

Operating income is recognized in accounting as it is generated (identified), as established by clause 16 of PBU 9/99.

You can find out more about the issues related to the procedure for accounting for transactions under a joint venture agreement in the book by the authors of JSC " BKR-Intercom-audit “Simple Partnership”.

Let's consider the procedure for reflecting income from the sale of fixed assets in accounting.

An organization may need to sell a fixed asset for various reasons: the object may fail and it is easier for the organization to sell it than to repair it; the organization repurposes production and equipment ceases to be used; the equipment is obsolete; the organization just needs money. The reasons can be very different.

As a result of the sale of fixed assets, the organization not only gets rid of the fixed asset it does not need, but also reduces the amount of property tax, since even if the fixed asset is not used for its intended purpose, property tax continues to be charged.

The sale of a fixed asset object is one of the special cases of disposal of fixed assets that are not constantly used for the production of products, performance of work, provision of services, as well as for the management needs of the organization.

The cost of a fixed asset disposed of as a result of sale is subject to write-off from accounting.

When selling fixed assets, the organization receives income. We have already noted that, according to paragraph 7 of PBU 9/99, such income is classified as operating income. Income from the sale of fixed assets in accordance with paragraph 30 of the Accounting Regulations “Accounting for Fixed Assets” PBU 6/01, approved by Order of the Ministry of Finance of the Russian Federation dated March 30, 2001 No. 26n (hereinafter referred to as PBU 6/01), is accepted for accounting in the amount agreed upon in the contract.

Expenses associated with the sale of fixed assets are classified as operating expenses.

According to paragraph 31 of PBU 6/01, income and expenses from writing off fixed assets from accounting are reflected in accounting in the reporting period to which they relate.

To account for the disposal of fixed assets, it is advisable to open a separate sub-account for the account “Retirement of fixed assets”, on which the sold fixed assets will be formed. The debit of this subaccount will reflect the original cost of the object being sold, taking into account the revaluations, and the credit will reflect the amount of accrued depreciation, also taking into account the revaluations.

Upon disposal of a fixed asset, including as a result of sale, the amount of depreciation accumulated during the operation of this object in accordance with the Chart of Accounts for accounting the financial and economic activities of the organization and instructions for its use, approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n is written off to the credit of account 01 “Fixed assets” subaccount “Retirement of fixed assets”. Upon completion of the disposal procedure, the residual value of the fixed asset is written off from account 01 “Fixed assets” to the debit of account 91 “Other income and expenses”, subaccount 91-2 “Other expenses”.

Income from the sale of fixed assets is reflected in the credit of account 91 “Other income and expenses” in a separate subaccount 91-1 “Other income”, and expenses associated with the sale are reflected in the debit of the account in subaccount 91-2 “Other expenses”.

Example 2.

In November 2006, the organization sells an item of fixed assets for 38,350 rubles (including VAT of 5,850 rubles). The initial cost of the object is 90,000 rubles. The useful life of this object is 6 years, the actual service life is 4 years, the amount of accrued depreciation is 60,000 rubles. Transportation costs for delivering the equipment to the buyer amounted to 1,888 rubles, including VAT. Delivery was made by a third party.

You can find out more about issues related to operations with fixed assets in the book by the authors of BKR-Intercom-Audit CJSC “Fixed Assets”.

According to paragraph 1 of Article 807 of the Civil Code of the Russian Federation, under a loan agreement, one party (the lender) transfers into the ownership of the other party (borrower) money or other things determined by generic characteristics, and the borrower undertakes to return to the lender the same amount of money (loan amount) or an equal amount of other received them things of the same kind and quality. The loan agreement is considered concluded from the moment the money or other things are transferred.

As a general rule, a loan agreement is a remunerative agreement. Therefore, even if the loan agreement does not contain payment terms, the borrower is obliged to pay the lender interest under the loan agreement. This follows from the provisions of paragraph 1 of Article 809 of the Civil Code of the Russian Federation:

“Unless otherwise provided by law or the loan agreement, the lender has the right to receive interest from the borrower on the loan amount in the amount and in the manner specified in the agreement. If there is no provision in the agreement on the amount of interest, their amount is determined by the existing bank interest rate (refinancing rate) at the place of residence of the lender, and if the lender is a legal entity, at its location on the day the borrower pays the amount of the debt or its corresponding part.”

When concluding a loan agreement, the parties independently establish the procedure and terms for paying interest under the agreement. As a rule, the parties agree that interest is paid monthly, quarterly, or upon repayment of borrowed funds, although other options are possible.

But keep in mind that if the agreement does not contain the procedure and terms for paying interest, then interest is paid monthly until the day the loan amount is repaid. This is directly indicated by paragraph 2 of Article 809 of the Civil Code of the Russian Federation, which states that, in the absence of another agreement, interest is paid monthly until the day the loan amount is repaid.

In accordance with paragraph 3 of the Accounting Regulations “Accounting for Financial Investments” PBU 19/02, approved by Order of the Ministry of Finance of the Russian Federation dated December 10, 2003 No. 126n (hereinafter referred to as PBU 19/02), loans provided by the organization are classified as financial investments. Based on this, when providing amounts of borrowed funds to other organizations, the lending organization must take them into account as financial investments, if the conditions established by paragraph 2 of PBU 19/02 are met:

ü the presence of a formalized agreement confirming the existence of the organization’s right to financial investments and to receive funds or other assets arising from this right;

ü transition to organizing financial risks associated with the loan provided (risk of price changes, risk of debtor insolvency, liquidity risk and much more);

ü the ability to bring economic benefits (income) in the future (for example, in the form of interest).

In accounting, to summarize information on monetary loans provided to other legal entities and individuals (except for employees of the organization), the Chart of Accounts for accounting the financial and economic activities of the organization and instructions for its application, approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n, is account 58 “Financial investments” subaccount “Provided loans”.

The amount of the loan provided is reflected in the debit of account 58 “Financial investments” sub-account “Granted loans” in correspondence with account 51 “Settlement accounts” if non-cash funds are provided or in correspondence with account 50 “Cash” if the loan provided is issued in cash.

In accordance with paragraph 34 of PBU 19/02, income from financial investments is recognized as income from ordinary activities, or other income in accordance with PBU 9/99.

If for the lending organization the provision of loans is not the main activity, then, in accordance with paragraph 16 of PBU 9/99, interest received for the provision of borrowed funds is operating income and is reflected in account 91 “Other income and expenses” subaccount “Other income” . The date of recognition of such income in the accounting records of the lending organization is each expired reporting period.

If the agreement between the lender and the borrower contains a condition that interest is paid simultaneously with the repayment of the principal amount of the debt, then, despite this, the lender recognizes income in the form of interest in accounting at the end of the reporting (tax) period.

If the parties have provided for the monthly accrual of interest, then the lending organization must also recognize income in the form of interest on a monthly basis.

PBU 19/02 conditionally divides all financial investments into two groups:

· financial investments by which the current market value can be determined;

· financial investments for which the current market value is not determined.

With regard to loans provided by an organization, it can be argued that they belong to the group of financial investments for which the market value is not determined. Therefore, when calculating interest on loans provided, the accountant should pay attention to paragraph 21 of PBU 19/02:

“Financial investments for which the current market value is not determined are subject to reflection in accounting and financial statements as of the reporting date at their original cost.”

In February 2006

Interest received under the loan agreement

End of the example.

You can find out more about issues related to the procedure for recognizing income in accounting and tax accounting, and reflecting income in financial statements in the book of ZAO BKR-INTERCOM-AUDIT “Organizational Income”.

1. No income at all

In accordance with clause 2 of PBU 9/99 “Income of an organization,” income is recognized as an increase in economic benefits as a result of the receipt of assets (cash, other property) and (or) repayment of liabilities, leading to an increase in the capital of this organization, with the exception of contributions of participants (owners) property).

In other words, if, as a result of a transaction, the organization has already received or will receive in the future money or any property that it does not have to return, or if, say, its debts have been forgiven, this is income.

Clause 3 of PBU 9/99 provides a list of receipts from various legal entities and individuals that are not considered income at all. In particular, it includes the following types of income:

Under commission agreements, agency agreements and other similar agreements in favor of the principal, principal, etc. (i.e. if an intermediary receives money when executing an intermediary agreement, his income is not considered the entire amount received, but only direct remuneration for the intermediary services provided);
- in the form of advance payment for products, goods, works, services and in the form of advances in payment for products, goods, works, services (such receipts do not form income until the organization ships the products, goods, delivers work or services)
- in the form of a deposit;
- as collateral, if the agreement provides for the transfer of the pledged property to the pledgee;
- to repay a loan provided to the borrower.

2. Definitely revenue!

Income from ordinary activities is revenue from the sale of products and goods, receipts associated with the performance of work and the provision of services.

Therefore, if an enterprise is engaged in manufacturing or trading activities, construction, provision of auditing services or other types of business activities, the amounts received from buyers and customers represent revenue.

According to clause 12 of PBU 9/99, revenue is recognized in accounting if the following conditions are met:

A) the organization has the right to receive this revenue arising from a specific agreement or confirmed in another appropriate manner;
b) the amount of revenue can be determined;
c) there is confidence that as a result of a particular transaction there will be an increase in the economic benefits of the organization. Confidence that a particular transaction will result in an increase in the economic benefits of the organization exists when the organization received an asset in payment or there is no uncertainty regarding the receipt of the asset;
d) the right of ownership (possession, use and disposal) of the product (goods) has passed from the organization to the buyer or the work has been accepted by the customer (service provided);
e) the expenses that have been incurred or will be incurred in connection with this operation can be determined.

If, in relation to cash and other assets received by the organization in payment, at least one of the above conditions is not met, then the organization’s accounting records recognize accounts payable, and not revenue.

Accounting for revenue (income from ordinary activities) is carried out on account 90 “Sales”, namely on subaccount 90-1 “Revenue”. Moreover, the amounts of revenue are reflected in this sub-account on an accrual basis throughout the entire calendar year, which, of course, facilitates the preparation of financial statements.

When drawing up a profit and loss statement, it is necessary to take into account that in the case of receiving revenue from various types of activities - for example, if the organization simultaneously carries out construction work and sells building materials - it must be shown in detail. Indeed, according to clause 18.1 of PBU 9/99, income constituting five or more percent of the organization’s total income for the reporting period is shown for each type separately. And therefore, analytical accounting for account 90 “Sales” should provide such an opportunity.

3. Without a doubt, other income...

Other income in accordance with the Chart of Accounts and the Instructions for its application is reflected in the credit of account 91 “Other income and expenses”. Like the subaccounts of account 90 “Sales”, the subaccounts of account 91 are maintained on an accrual basis during the calendar year.

The list of other income is given in clause 7 of PBU 9/99 “Income of the organization”.

Among the income listed in this paragraph, the category of other, without a doubt, should include such income as:

Profit received by the organization as a result of joint activities (under a simple partnership agreement);
- proceeds from the sale of fixed assets, foreign currency and other assets, except for products and goods;
- interest received for providing the organization’s funds for use, as well as interest for the bank’s use of funds held in the organization’s account with this bank;
- fines, penalties, penalties for violation of contract terms;
- assets received free of charge, including under a gift agreement;
- proceeds to compensate for losses caused to the organization;
- profit of previous years identified in the reporting year;
- amounts of accounts payable and depositors for which the statute of limitations has expired;
- exchange differences;
- the amount of revaluation of assets;
- and other income.

In addition, according to clause 9 of PBU 9/99, other income also includes income arising as a consequence of emergency circumstances of economic activity:

Natural disaster,
- fire,
- accidents,
- nationalization
- and so on.
For example, the cost of material assets remaining from the write-off of assets unsuitable for restoration and further use.

But with regard to the amounts of rent received, royalties, interest and dividends received as a result of participation in the authorized capital of other organizations, everything is not so clear...

4. And here – decide for yourself

In accordance with the last paragraph of paragraph 4 of PBU 9/99 “Income of the organization”, for accounting purposes, the organization independently recognizes receipts as income from ordinary activities or other receipts based on:

Requirements PBU 9/99;
- the nature of its activities,
- type of income
- and the conditions for receiving them.

The decisive factor, as a rule, is whether the transactions that gave rise to the relevant income can be considered to be the subject of the organization's activities.

So, according to clause 5 of PBU 9/99:

In organizations whose subject of activity is the provision for a fee for temporary use (temporary possession and use) of their assets under a lease agreement, revenue is considered to be receipts of which are associated with this activity (rent);
- in organizations whose subject of activity is the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property, revenue is considered to be receipts the receipt of which is associated with this activity (license payments (including royalties) for the use of intellectual property) ;
- and in organizations whose subject of activity is participation in the authorized capital of other organizations, revenue is considered to be receipts the receipt of which is associated with this activity.

At the same time, income received by an organization from the provision for a fee for temporary use (temporary possession and use) of its assets, rights arising from patents for inventions, industrial designs and other types of intellectual property, and from participation in the authorized capital of other organizations, when This is not the subject of the organization’s activities; it is classified as other income.

Consequently, the organization must independently decide which income it will include in revenue (income from ordinary activities) and reflect in line 010 of the profit and loss statement (form No. 2), and which it will show as other income. Of course, this division will not affect the total amount of profit before tax and net profit, but it will have a very direct impact on the amount of profit from sales. It is also important to take into account that liability is established for distortion of any line in the financial statements - Art. 15.11 Code of Administrative Offenses of the Russian Federation and Art. 120 of the Tax Code of the Russian Federation). Therefore, the accountant needs to be able to substantiate why he reflects this or that type of income on account 90 “Sales” and not on account 91 “Other income and expenses,” and vice versa.

Of course, your choice must be formalized in the organization’s accounting policies. This can be either an indication of the types of activities, income from which is included in revenue (in the form of a list), or setting a cost limit for recognizing income as revenue - for example, at the level of 5% or, say, 10% of the organization’s total income. In any case, revenue should be considered significant income that the organization receives systematically - at least twice a year.

Certain types of income and expenses can be both income and expenses for ordinary activities, and other income and expenses depending on the direction of the organization’s activities (rent, license fees, etc.) (clause 7 of PBU 9/99, p. 11 PBU 10/99).

But there are also income and expenses that are always other:

The procedure for recognizing other income is contained in clauses 15-16 PBU 9/99, and other expenses - in clauses 16-19 PBU 10/99.

Other income and expenses: accounting entries

From the point of view of reflection on accounting accounts, other expenses in accounting are expenses reflected in account 91 “Other income and expenses”. Accordingly, other income is recorded in the same account.

How to calculate other income? For other income, the formula for determining them for the reporting period is simple: just add up the credit turnover of account 91, the subaccount “Other income”. And to obtain a net estimate (without VAT) from the indicated value, subtract VAT from other income, reflected in the debit of account 91, subaccount “VAT”

Similarly, other expenses for the reporting period are accumulated for the reporting period in the debit of account 91, subaccount “Other expenses”.

Typical accounting entries for accounting for other income and expenses: