Accounting profit is a positive financial result calculated according to the accounting data of an enterprise / organization. It is calculated on the basis of all business transactions for the reporting period and includes an assessment of the state of the balance sheet items. Profit is one of the most important indicators of the company's activity and one of the main sources of self-financing.
Instructions
Step 1
Determine the level of all income of the company for the period from all activities in accordance with the requirements of PBU 9/99 "Income of the organization". In this case, income from various types of activities is reflected in the debit of the corresponding accounts.
Step 2
Determine the costs of the company for the period in accordance with the requirements of PBU 10/99 "Organization costs".
Step 3
Determine the profit from the sale of products, goods, works, services. For this, the generated balance on the credit of account 90 "Sales" corresponds to debit 99 of the account "Profit". Non-operating income and expenses are reflected in 91 accounts, while incomes are credited to the account, and losses / expenses are debited. Account 90 has the following structure. The debit of this account reflects the cost of products, works, services sold in the period, VAT on this sale, excise taxes. The credit of the account reflects income from sales, including VAT on income from sales.
Step 4
Reflect the transactions on account 99 "Profit and Loss" using the cumulative principle - on an accrual basis from the beginning of the year. In this case, the credit of the account reflects income, and the debit - expenses and losses. Compare the result of the turnover on the debit and on the credit of account 99. The excess of the debit over the credit gives a financial result in the form of a loss. The excess of the credit balance over the debit balance is profit. The structure of account 99 is as follows. The debit of account 99 reflects the book value of tangible assets and fixed assets, non-operating expenses, operating expenses, VAT. For the loan, reflect income from other sales and fixed assets, non-operating income, operating income. Please note that the financial result from other sales and non-sales transactions is determined first on accounts 90 and 91, and then transferred to account 99. And the financial result from operating activities directly corresponds to account 99.
Step 5
Reflect the accounting for the profit remaining at the disposal of the enterprise on the Credit 84 account.
