Each commercial enterprise conducts one or another activity aimed at obtaining financial profit. Nevertheless, unfortunate periods periodically occur, which must be taken into account in order to avoid similar situations in the future. The determination of profit or loss for accounting is the responsibility of the organization's accountant.
It is necessary
- - balance sheet according to form No. 1;
- - statement of losses and profits in the form No. 2.
Instructions
Step 1
Use financial statements to summarize the results of the financial activities of the enterprise. Form No. 1 of the balance sheet contains the total amount of accumulated profit and uncovered loss in the current reporting period, and Form No. 2 contains data for generating the required financial result. Also, form number 2 allows you to find out the various types of profit and calculate the profitability of the organization.
Step 2
Examine lines 1370 and 2400 of Form No. 1 of the balance sheet to obtain basic information about the profit and loss of the enterprise. If the indicator at the reporting date exceeds the value at the beginning of the year, this indicates that the company has gone into profit. For accuracy, it is recommended that data be validated for at least one business year or five key dates. If the indicator of retained earnings is constantly increasing, then you have chosen competent management of income and expenses. On the contrary, a decrease in the indicator indicates that the activity is unprofitable, even if it is a positive number.
Step 3
Make an aggregated table-like report to summarize your profit and loss information. Vertically list the relevant report lines, and horizontally list the dates in question. If there is a decrease in the indicator following the results of at least one of the periods under consideration, it is necessary to analyze the formation of profit at each of the stages in order to find out the source of the loss.
Step 4
Estimate all other income, including income from other organizations - divisions and branches and interest receivable. Add these to your sales profit, subtracting interest and other expenses to get your pre-tax profit. To find out the net loss or profit, deduct the current pre-tax tax and any applicable tax penalties from profit. If necessary, monitor changes in fixed financial assets and liabilities.
