When preparing a balance sheet for submission to tax authorities and statistical authorities, after the column “Name of indicator”, you must indicate the line code (clause 5 of Order of the Ministry of Finance dated July 2, 2010 No. 66n). How to fill out line 1370 of the balance?
What does line 1370 of the balance sheet consist of?
The line codes in the accounting reporting forms are given in Appendix No. 4 to Order of the Ministry of Finance dated July 2, 2010 No. 66n. Thus, line 1370 is called “Retained earnings (uncovered loss).” As the name suggests, this line reflects the amount of retained earnings or uncovered losses accumulated as of the reporting date.
In accordance with the Chart of Accounts and the Instructions for its use, account 84 “Retained earnings (uncovered loss)” is provided for accounting for retained earnings (uncovered loss).
However, this account only reflects the profit or loss accumulated at the end of the year, i.e., December 31st. If the balance is drawn up as of the interim reporting date, to fill out line 1370, the balance of not only account 84, but also account 99 “Profits and losses” is used. Let us recall that it is in account 99 that profits or losses from ordinary activities, other operations, as well as amounts directly attributed to account 99 (for example, fines for violation of tax laws) are accumulated throughout the year.
If a loss is reflected on line 1370 on the reporting date, then its amount is shown not with a minus, but in parentheses, for example: (10,000).
Please also note that interim dividends paid during the reporting year are shown in the balance sheet separately in parentheses on a separate line in Section III of the balance sheet (Letter of the Ministry of Finance dated December 19, 2006 No. 07-05-06/302). For example, on line 1371 “including interim dividends”.
Let's give an example. As of December 31, 2017, the credit balance of account 84 is 365,000 rubles. At the same time, interim dividends in the amount of 29,000 rubles were paid during the year, which corresponded to the accounting entry of the form: Debit account 84 – Credit account 75 “Settlements with founders” (Order of the Ministry of Finance dated October 31, 2000 No. 94n). Therefore, in the balance sheet at the end of 2017, profit and its use for the payment of interim dividends will be reflected as follows:
Line 1370 “Retained earnings (uncovered loss)”: 365,000
Line 1371 “incl. interim dividends": (29,000)
In addition, part of the net profit can be written off when correcting significant errors of previous years identified in the reporting year, if the reporting for these periods was approved. The decision on spending the company's net profit is made by the general meeting of participants (in limited liability companies) or shareholders (in joint-stock companies) (when reflecting transactions on the depreciation of non-current assets, a decision of the owners is not needed). The owners of the company make such a decision after approving the annual financial statements and reflecting the net profit received over the past year in the balance sheet. Consequently, transactions for spending these funds are taken into account only in the first reporting period (quarter) of the next year. Therefore, in 2015, the debit of account 84 “Retained earnings (uncovered loss)” can reflect transactions for spending profits received in 2014 or earlier.
Line 1370 of the balance sheet: explanation
Let us recall that it is in account 99 that profits or losses from ordinary activities, other operations, as well as amounts directly attributed to account 99 (for example, fines for violation of tax laws) are accumulated throughout the year. If a loss is reflected on line 1370 on the reporting date, then its amount is shown not with a minus, but in parentheses, for example: (10,000). Please also note that interim dividends paid during the reporting year are shown in the balance sheet separately in parentheses on a separate line in Section III of the balance sheet (Letter of the Ministry of Finance dated December 19, 2006 No. 07-05-06/302).
For example, on line 1371 “including interim dividends”. Let's give an example. As of December 31, 2017, the credit balance of account 84 is 365,000 rubles.
Section iii "capital and reserves" of the balance sheet
For example, a balance sheet prepared by an enterprise for 2017 should contain data as of December 31, 2017, December 31, 2016 and December 31, 2015. The financial results report for the year must contain information on income and expenses that were recognized in the company’s accounting in the reporting and previous year (Read also the article ⇒ Procedure for preparing financial statements). All last year's information is taken from last year's reports.
And for indicators for the current year, information is taken from sources such as:
- The balance sheet for the organization as a whole for the reporting year;
- Indicators of accrued interest on credits (loans) for the reporting year.
If there is no data to fill out any balance line, it is not filled in and a dash is placed. The line code that is indicated in the simplified balance sheet can be found in Appendix 4 to Order of the Ministry of Finance 66n.
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If equality is observed, the balance is considered to be compiled correctly, and if the amounts do not agree, then errors were made in filling out the balance. The procedure for filling out a simplified statement of financial results Report line Accounting account 2110 “Revenue” Difference of indicators: · Turnover on the credit of the “Revenue” sub-account to the “Sales” account · Turnover on the debit of the “VAT” sub-account to the “Sales” account 2120 “Expenses for ordinary activities » Amount by debit of subaccounts to account 90 “Sales”, on which accounting is kept: · Cost of sales · Selling expenses · Administrative expenses The indicator is indicated in parentheses, the minus sign is not placed. 2330 “Interest payable” The amount of accrued interest on loans for the current year is indicated. The indicator is indicated in brackets, no minus sign is used.
Procedure for filling out reports
Retained earnings (uncovered loss) (line 1370) This line must reflect the amount of retained earnings (uncovered loss) generated as of December 31, 2015. At the same time, the indicator of line 1370 “Retained earnings (uncovered loss)” includes profit (loss) of both the current year, 2015, and previous years. The profit received is reflected in the credit of account 84 “Retained earnings (uncovered loss)”.
The credit balance of this account is entered in line 1370. If a loss has formed in the company's accounting, it is reflected in the debit of account 84. In this situation, the debit balance of this account is entered in line 1370.
At the same time, it is indicated in the balance sheet in parentheses. Formation of profit (loss) Retained profit (uncovered loss) of the reporting year 2015 is written off to account 84 when reforming the balance sheet. Example In 2015
An example of filling out a simplified balance sheet for a simplified tax system
The composition of simplified financial statements is as follows:
- Balance sheet;
- Income statement.
If an enterprise needs to provide any additional information, and the simplified reporting forms do not contain the required columns, then general reporting forms can be used. Thus, small businesses decide on their own which forms to submit financial statements. The main thing is that the decision made is reflected in the accounting policy.
Requirements for filling out a simplified balance sheet The annual balance sheet must contain data on the assets and liabilities that the organization has at the end of the reporting year, that is, as of December 31. Additionally, information on previous years is entered into the balance sheet, that is, as of December 31 of last year and as of December 31 of the year before.
A bank’s refusal to carry out a transaction can be appealed. The Bank of Russia has developed requirements for an application that a bank client (organization, individual entrepreneur, individual) can send to an interdepartmental commission in the event that the bank refuses to make a payment or enter into a bank account (deposit) agreement.< … «Больничное» пособие: нужно ли выплачивать за отработанные дни болезни В случае, когда в день оформления листка нетрудоспособности сотрудник находился на рабочем месте и получил за этот день зарплату, «больничное» пособие за этот день не начисляется. < … Главная → Бухгалтерские консультации → Бухгалтерская отчетность Актуально на: 1 декабря 2017 г. При составлении бухгалтерского баланса для его представления в налоговые органы и органы статистики после графы «Наименование показателя» нужно указывать код строки (п.
5 Order of the Ministry of Finance dated July 2, 2010 No. 66n).
Balance sheet line 1370 capital and reserves in a simplified balance sheet
How to fill out line 1370 of the balance? The line codes in the accounting reporting forms are given in Appendix No. 4 to Order of the Ministry of Finance dated July 2, 2010 No. 66n. Thus, line 1370 is called “Retained earnings (uncovered loss).” As the name suggests, this line reflects the amount of retained earnings or uncovered losses accumulated as of the reporting date.
In accordance with the Chart of Accounts and the Instructions for its use, account 84 “Retained earnings (uncovered loss)” is provided for accounting for retained earnings (uncovered loss). However, this account only reflects the profit or loss accumulated at the end of the year, i.e., December 31st. If the balance is drawn up as of the interim reporting date, to fill out line 1370, the balance of not only account 84, but also account 99 “Profits and losses” is used.
The company may also have additional retained earnings when correcting significant errors in previous reporting years that were identified after the approval of the financial statements for these periods. For example, if in past periods certain company expenses were overestimated or any income was not taken into account. Distribution of profits The amount of retained earnings received both in previous reporting periods and in the current year can be used: to pay dividends to the owners of the company; for the formation and replenishment of reserve capital (for JSC - mandatory, for LLC - if this is provided for in the company’s charter); to increase the authorized capital of the company; for any other purposes determined by the owners of the company (for example, creating special-purpose funds, providing charitable assistance, financing capital investments, etc.).
It is impossible to give a resigning employee a copy of SZV-M. According to the law on personal accounting, when dismissing an employee, the employer is obliged to give him copies of personalized reports (in particular, SZV-M and SZV-STAZH). However, these reporting forms are list-based, i.e. contain information about all employees. This means transferring a copy of such a report to one employee means disclosing the personal data of other employees.
< … Старые «прибыльные» ошибки иногда можно исправить в текущем периоде Если организация обнаружила, что в одном из предыдущих отчетных (налоговых) периодов при исчислении налога на прибыль была допущена ошибка, исправить ее текущим периодом можно, только если соблюдены два условия. < … Сдача СЗВ-М на директора-учредителя: ПФР определился Пенсионный фонд наконец-то поставил точку в спорах о необходимости представлять форму СЗВ-М в отношении руководителя-единственного учредителя.
Drawing up mandatory financial statements for sending to the tax authorities requires filling out an officially established form containing columns with various names. It is also necessary to indicate not only the name, but also the code of the column. In accordance with this, the question arises about deciphering line 1370 of the balance sheet. To figure this out, you need to know what information this line should contain. This will allow you to correctly draw up a report and submit it without violations to the relevant authorities to verify the information and activities of the organization.
What does line 1370 consist of?
The line codes used in reporting are given in the appendix to the relevant order, which regulates the preparation and completion of reporting summaries. In this document, balance sheet line 1370 is designated as retained earnings, and it is also clarified that this may also be an uncovered loss. Accordingly, the column should indicate the available amount of retained earnings or a similar amount of uncovered loss that has accumulated over a certain period of time, immediately at the time of drawing up the report.
- The accounting plan provides for a separate profit or loss account. In this case, the account reflects the profit or loss that was accumulated by the end of the year, and if the balance is drawn up not as a year-end, but at an intermediate date, then the group accounts in which net profits and losses are noted are also used to fill out the column.
- These accounts accumulate amounts from normal transactions performed by the organization, as well as various amounts that may directly relate to this group, for example, accrued fines.
- If losses occur on the specified reporting date, they are entered in the line not with a minus sign, but written in parentheses. For example, information on losses will be written as follows: (12,000), where the number in brackets is the sum of all losses.
In line 1370 of the balance sheet it is necessary to reflect the amount of retained earnings (uncovered loss) formed as of December 31 of the reporting year. At the same time, the indicator of line 1370 “Retained earnings (uncovered loss)” includes profit (loss) of both the current year and previous years. The profit received is reflected in the credit of account 84 “Retained earnings (uncovered loss)”. The credit balance of this account is entered in line 1370. If a loss has formed in the company's accounting, it is reflected in the debit of account 84. In this situation, the debit balance of this account is entered in line 1370. At the same time, it is indicated in the balance sheet in parentheses.
25.03.2015Current accounting
Formation of profit (loss) and reflection in line 1370
Retained earnings (uncovered loss) of the reporting year are written off to account 84 when reforming the balance sheet.
In 2014, the company received the following indicators:
Sales revenue (subaccount 90-1) - RUB 2,360,000;
Cost of sales (subaccount 90-2) - 1,300,000 rubles;
VAT accrued on revenue (subaccount 90-3) - RUB 360,000;
Profit from sales (subaccount 90-9) - 700,000 rubles;
The total amount of other income (subaccount 91-1) is 59,000 rubles;
The total amount of other expenses (subaccount 91-2) is 34,000 rubles;
Profit as a result of receiving other income (subaccount 91-9) - 25,000 rubles.
When closing all sub-accounts opened for accounts 90 “Sales” and 91 “Other income and expenses”, as well as reforming the balance sheet, the accountant will make the following entries:
DEBIT 90-1 CREDIT 90-9
RUB 2,360,000 — subaccount 90-1 is closed;
DEBIT 90-9 CREDIT 90-2
RUB 1,300,000 — subaccount 90-2 is closed;
DEBIT 90-9 CREDIT 90-3
360,000 rub. — subaccount 90-3 is closed;
DEBIT 90-9 CREDIT 99
700,000 rub. — profit from sales is reflected (postings were made monthly during the financial year for the amount of profit received from core activities);
DEBIT 91-1 CREDIT 91-9
59,000 rub. — subaccount 91-1 is closed;
DEBIT 91-9 CREDIT 91-2
34,000 rub. — subaccount 91-2 is closed;
DEBIT 91-9 CREDIT 99
25,000 rub. — profit from other income and expenses is reflected (postings were made monthly during the financial year for the amount of profit received from other activities);
DEBIT 99 CREDIT 68 subaccount “Calculations for income tax”
145,000 rub. ((700,000 + 25,000) × 20%) - income tax accrued (posting is done during the year as advance tax payments are accrued);
DEBIT 99 CREDIT 84
580,000 rub. (700,000 + 25,000 - 145,000) - the balance sheet was reformed and the company’s net profit for 2012 was reflected.
Let's assume that the amount of retained earnings from previous years amounted to RUB 1,560,000. In this situation, on line 1370 of the balance sheet for 2013, the accountant will reflect the amount of profit in the amount of:
1,560,000 + 580,000 = 2,140,000 rub.
The company may also have additional retained earnings when correcting significant errors in previous reporting years that were identified after the approval of the financial statements for these periods (subclause 1, clause 9 of PBU 22/2010, approved by order of the Ministry of Finance of Russia dated June 28, 2010 No. 63n). For example, if in past periods certain company expenses were overestimated or any income was not taken into account.
Line 1370 “Retained earnings (uncovered loss)”
By line 1370 The amount of retained earnings or uncovered loss of the organization is reflected:
Interim reporting:
[Account balance 99 “Profits and losses”]
plus/minus
[Account balance 84
minus
[Account balance 84 “Retained earnings (uncovered loss)”]
(in terms of interim dividends accrued in the reporting period)
Annual reporting:
The amount of retained profit (uncovered loss) of the reporting period is equal to the amount of net profit (net loss) of the reporting period, i.e. profit (loss) after tax. Therefore, if the organization does not have retained earnings (uncovered loss) from previous years and the distribution of interim dividends during the reporting period, then the value of line 1370 coincides with the value of line 2400 “Net profit (loss) of the reporting period” of Form No. 2.
In a number of cases, an organization is obliged to make adjustments to balance sheet indicators during the inter-reporting period as of January 1 of the reporting year:
1. Retained earnings (uncovered loss) include the results of revaluation of intangible assets if:
- the amount of depreciation of intangible assets exceeds the amount of its revaluation credited to the organization’s additional capital as a result of the revaluation carried out in previous reporting years;
- intangible assets that were not previously undervalued are discounted;
- intangible assets, which were previously discounted, are revalued and the amount of its writedown carried out in previous reporting years is charged to retained earnings (uncovered loss) in previous reporting years.
2. The amount of retained earnings (uncovered loss) is adjusted when the estimated values of intangible assets (i.e., the residual value of intangible assets) change:
- in case of clarification of the useful life of intangible assets;
- in case of clarification of the method of calculating depreciation for intangible assets.
3. Retained earnings (uncovered loss) include the results of revaluation of fixed assets if:
- an asset that was previously discounted is revalued and the amount of its depreciation carried out in previous reporting periods is charged to retained earnings (uncovered loss) in previous reporting years;
- the amount of depreciation of an asset exceeds the amount of its revaluation credited to the organization’s additional capital as a result of the revaluation carried out in previous reporting years;
- OS, which was not previously undervalued, is discounted.
4. The amount of retained earnings (uncovered loss) is adjusted when accounting policies change:
- caused by changes in the legislation of the Russian Federation or regulatory acts on accounting (except for cases when otherwise provided by the relevant legislative or regulatory act);
- in other cases, changes in accounting policies.
No adjustment is made to retained earnings if the monetary consequences of a change in accounting policy for periods prior to the reporting period cannot be estimated reliably.
5. Retained earnings (uncovered loss) include the results of recalculation of deferred tax assets and liabilities caused by changes in income tax rates in accordance with the legislation of the Russian Federation.