Errors in accounting financial statements. Correction of errors in accounting and reporting. Materiality level as a percentage of the value of the reporting line

Anyone can make a mistake when preparing financial statements. The main thing is to fix the mistake. And the order of its correction depends on two points: whether the error is significant and in what period it was discovered. pp. 3, 5-11, 14 PBU 22/2010.

A material error is an error that, alone or together with other errors in the same period, could affect the economic decisions of users made on the basis of the accounting records of that period. pp. 3, 5-11, 14 PBU 22/2010.

How to make corrections to an account

Error detection period Correction
material error minor error
Until December 31 of the reporting year inclusive In the month of discovery
After the end of the reporting year, but before the date of signing the statements by the head December 31 of the reporting year
After the reporting is signed by the head, but before it is presented to the company's participants December 31 of the reporting year
If the reporting was submitted to other users (for example, to the IFTS), then it must be replaced		 In the month of detection - if the error affected the financial result, the adjustment is reflected in account 91 "Other income and expenses"
After reporting to participants, but before it is approved by them December 31 of the reporting year
Revised financial statements are sent to users with information about the replacement of the original financial statements and with the rationale for its revision
After approval of the reports by the participants In the discovery quarter - the results of the adjustment are reflected in account 84 "Retained earnings (uncovered loss)" In the month of discovery - the result of the adjustment is reflected in account 91

What is the significance of the error

You determine and set the criterion for the materiality of the error yourself by writing it in the accounting policy clause 3 PBU 22/2010; clause 4 PBU 1/2008. It must be justified.

OPTION 1. You can focus on the same rules for determining the materiality of an indicator, which are contained in PBU 9/99 on income and PBU 10/99 on expenses. Recall that it says that income (expense) for a certain type of activity is shown separately in the statements if it is 5% or more of the total amount of income (expenses) for the reporting period. clause 18.1 PBU 9/99; clause 21.1 RAS 10/99. By analogy, it can be fixed in the accounting policy that an error is significant if it distorts the indicator for the reporting period by more than 5%.

OPTION 2. It is possible to assess the significance of the error based on the proportion of the balance sheet item, which reflected the error, in the balance sheet currency. For example, the useful life of the OS is incorrectly determined. Its price does not exceed hundreds of thousands of rubles. And the value of all the assets of the company is in the millions. It is clear that the mistake made will not affect the decision-making by the owners of the company on this accounting. Another thing is if the company bought real estate, but untimely reflected its value on the balance sheet, and the company does not have other fixed assets. Such an error must already be recognized as significant.

OPTION 3. Such a qualitative indicator as the type of activity can be used. For example, your main activity is trade, and your secondary activity is rent. It can be established that errors made in accounting for leases are always insignificant.

OPTION 4. It can be prescribed that the significance of the error will be assessed for each specific case separately based on the impact of this error on the financial result and financial position of the organization. That is, there is no single criterion to establish.

OPTION 5. If you are reporting solely for submission to the inspection (the owners are not interested in it), then you can focus on the norm of the Code of Administrative Offenses: if the indicator of any article (line) of accounting is distorted as a result of an error by 10% or more, then this is a gross violation of accounting rules, for which the head faces a fine of 2 thousand to 3 thousand rubles. Art. 15.11 Administrative Code of the Russian Federation That is, it can be established that there will be a significant error that distorts the accounting line indicator by at least 10%.

Example. Determining the type of error made

/ condition / The organization for December 2011 erroneously accrued depreciation in the amount of 200,000 rubles. instead of 250,000 rubles.

At the same time, before the error was detected, the indicators affected by this error were as follows:

  • residual value of fixed assets (from the balance sheet) - 900,000 rubles;
  • profit from sales (from the income statement) - 1,000,000 rubles;
  • profit before tax (from the income statement) - 270,000 rubles;
  • net profit (from the income statement) - 216,000 rubles;
  • cost of sales (from the income statement) - 700,000 rubles;
  • the amount of income tax (from the income statement) - 54,000 rubles.

The same mistake was made in tax accounting - there are no differences.

In the accounting policy, the organization has established that an error is significant that leads to a distortion of any accounting line by at least 10%.

/ solution / Let's see if the error is significant.

STEP 1. Let's calculate the amount of the error: 250,000 rubles. - 200,000 rubles. = 50,000 rubles.

STEP 2. Calculate the percentage misstatement of each line of the balance sheet and income statement, which are affected by the reflection of depreciation.

The name of the lines of the balance sheet and income statement As of 31.12.2011
Amount before error detection, rub. Amount after detection of an error, rub. Distortion percentage, %
fixed assets 900 000 850 000
(900,000 rubles -50,000 rubles)		 5,88
((900,000 rubles - 850,000 rubles) / 850,000 rubles x 100%)
Cost of sales 700 000 750 000
(700,000 rubles + 50,000 rubles)		 6,67
((750,000 rubles - 700,000 rubles) / 750,000 rubles x 100%)
Profit (loss) from sales 1 000 000 950 000
(1,000,000 rubles - 50,000 rubles)		 5,26
((1,000,000 rubles - 950,000 rubles) / 950,000 rubles x 100%)
Profit (loss) before tax 270 000 220 000
(270,000 rubles - 50,000 rubles)		 22,73
((270,000 rubles - 220,000 rubles) / 220,000 rubles x 100%)
Current income tax 54 000 44 000
(220,000 rubles x 20%)		 22,73
((54,000 rubles - 44,000 rubles) / 44,000 rubles x 100%)
Net profit 216 000 176 000
(220,000 rubles - 44,000 rubles)		 22,73
((216,000 rubles - 176,000 rubles) / 176,000 rubles x 100%)

STEP 3. Let's compare the maximum percentage of distortion with the criterion of materiality of the error: 22.73% > 10%.

The organization belongs to small businesses and applies a common chart of accounts. Financial statements are prepared in a simplified form. The organization does not apply retrospective restatement.
At the moment, a counting error has been found in the reporting for 2013, 2014 (the error was revealed after the approval of the reporting for these years). The data on the lines of receivables and payables do not match the data of accounting registers for the periods of 2013, 2014. Accordingly, the balance sheet currency is distorted (accounting records reflect the correct data, it is the reporting that is distorted). The sum error is significant. Since the organization is a small business entity and uses simplified accounting methods, according to the organization's accounting policy, significant errors are corrected without retrospective recalculation.
Options for making corrections to the reporting:
- option 1: make an adjustment for previous periods (that is, draw up corrective statements for 2013 and 2014);
- Option 2: make changes to the statements for 2015 (columns for 2013, 2014). Which of these options is correct?

On this issue, we take the following position:
The organization is not obliged to prepare corrective statements for 2013-2014 and is not obliged to recalculate the comparative indicators of financial statements for 2013-2014 reflected in the statements for 2015.
If information about errors committed (the nature of errors and the amount of misrepresentation of receivables and payables in the reporting for 2013-2014) is the most important information, without knowing which it is impossible to assess the financial position of the organization or the financial results of its activities, then the relevant information can be reflected in the explanations to the accounting (financial) statements for 2015 (without retrospective restatement). Otherwise, information about the errors committed is not reflected in the notes to the accounting (financial) statements. At the same time, when compiling reports for 2015, the indicators for 2015 must correspond to accounting data.

Position justification:
In accordance with the Federal Law of December 6, 2011 N 402-FZ "On Accounting" (hereinafter - Law N 402-FZ), accounting is the formation of documented systematized information about the objects provided for by N 402-FZ, in accordance with the requirements established by N 402-FZ, and drawing up accounting (financial) statements on its basis.
According to Law N 402-FZ, an economic entity is obliged to keep accounting records in accordance with N 402-FZ, unless otherwise provided by Law N 402-FZ.
In accordance with Law N 402-FZ, annual accounting (financial) statements, with the exception of cases established by N 402-FZ, consist of a balance sheet, a statement of financial results and annexes to them.
On the basis of Law N 402-FZ, small businesses have the right to apply simplified accounting methods, including simplified accounting (financial) reporting, unless otherwise provided by Art. 6 of Law N 402-FZ.
The composition and content of simplified financial statements are determined by the Ministry of Finance of Russia dated 02.07.2010 N 66n "On the forms of financial statements of organizations" (hereinafter - Order N 66n) (Ministry of Finance of Russia dated 27.02.2015 N 03-11-06 / 2/10013, dated 23.01. 2015 N , from 03/19/2014 N , from 02/26/2014 N ).
So, Order N 66n established that organizations that have the right to apply simplified accounting methods, including simplified accounting (financial) reporting, form financial statements according to the following simplified system:
a) the balance sheet, the report on financial results, the report on the intended use of funds include indicators only for groups of articles (without detailing the indicators for articles);
b) appendices to the balance sheet, income statement, report on the intended use of funds contain only the most important information, without knowing which it is impossible to assess the financial position of the organization or the financial results of its activities (see also the information of the Ministry of Finance of Russia dated April 25, 2013 "Accounting statements small businesses").
The procedure for correcting errors in accounting and reporting is regulated by the rules "Correction of errors in accounting and reporting" (hereinafter -).
According to PBU 22/2010, incorrect reflection (non-reflection) of the facts of economic activity in the accounting and (or) financial statements of the organization is considered an error.
The rules distinguish between significant and non-essential errors.
In accordance with PBU 22/2010, an error is recognized as significant if, individually or in combination with other errors for the same reporting period, it can affect the economic decisions of users made on the basis of financial statements compiled for this reporting period. The organization determines the materiality of the error independently based on both the size and the nature of the relevant item (s) of the financial statements.
Based on PBU 22/2010, the identified errors and their consequences are subject to mandatory correction.
At the same time, it should be taken into account that clause 39 of the Regulations on accounting and financial reporting in the Russian Federation, approved by the Ministry of Finance of Russia dated July 29, 1998 N 34n, establishes that changes in financial statements relating to both the reporting year and previous periods (after its approval) are made in the reporting compiled for the reporting period in which distortions of its data were discovered.
In general, on the basis of PBU 22/2010, a significant error of the previous reporting year, identified after the approval of the financial statements for this year, is corrected:
1) entries on the relevant accounting accounts in the current reporting period. In this case, the corresponding account in the entries is the account of retained earnings (uncovered loss);
2) by recalculating the comparative indicators of the financial statements for the reporting periods reflected in the financial statements of the organization for the current reporting year, except when it is impossible to establish a connection between this error and a specific period or it is impossible to determine the impact of this error on a cumulative total in relation to all previous reporting periods.
The recalculation of the comparative indicators of the financial statements is carried out by correcting the indicators of the financial statements, as if the error of the previous reporting period had never been made (retrospective recalculation).
Retrospective recalculation is made in relation to comparative indicators starting from the previous reporting period presented in the financial statements for the current reporting year in which the corresponding error was made.
At the same time, PBU 22/2010 determines that in the event that a material error of the previous reporting year, identified after the approval of the financial statements, is corrected, the approved financial statements for previous reporting periods are not subject to revision, replacement and re-submission to users of the financial statements.
The courts also point out that if the financial statements are approved and submitted, then no corrections are made to them, since the preparation of updated financial statements is not provided for by law in this case, and all changes to the financial statements are reflected in the reporting of the period when the error was detected (Tenth Arbitration Court of Appeal dated April 28 .2015 N 10AP-16999/14, dated 04/21/2015 N).
PBU 22/2010 establishes an exception from the general rule for correcting significant errors of the previous reporting year identified after the approval of the financial statements for this year, according to which organizations that have the right to apply simplified accounting methods, including simplified accounting (financial) statements, can correct a significant error of the previous reporting year, identified after the approval of the financial statements for this year, in the manner established by PBU 22/2010, without a retrospective recalculation.
Thus, according to PBU 22/2010, an error of the previous reporting year, which is not significant, detected after the date of signing the financial statements for this year, is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was discovered. Profit or loss resulting from the correction of this error is included in other income or expenses of the current reporting period.
Thus, organizations that have the right to apply simplified accounting methods are entitled to correct both significant and insignificant errors of the previous reporting period identified after the date of signing the financial statements for that year by entries in the relevant accounting accounts in the month of the reporting year in which an error was detected, without recalculation of the comparative indicators of the financial statements for the reporting periods, reflected in the organization's financial statements for the current reporting year (that is, without a retrospective recalculation).
Since, in the situation under consideration, errors were made only in the preparation of reports, no entries are made in the accounting accounts. At the same time, the established procedure for correcting errors does not oblige the organization to recalculate the comparative indicators of financial statements for the reporting periods reflected in the organization's financial statements for the current reporting year.
Thus, the organization is not obliged to prepare corrective statements for 2013-2014 and is not obliged to recalculate the comparative indicators of financial statements for 2013-2014 reflected in the statements for 2015.
Despite the fact that in this case corrections are not made to accounting, in order to fix the period for detecting errors and their nature, in our opinion, it is necessary to issue an accounting certificate containing the mandatory details provided for in Part 2 of Art. 9 of Law N 402-FZ.
In accordance with PBU 22/2010, in the explanatory note to the annual financial statements, the organization is obliged to disclose the following information in relation to material errors of previous reporting periods corrected in the reporting period:
1) the nature of the error;
2) the amount of the adjustment for each article of the financial statements - for each previous reporting period to the extent that it is practically feasible;
3) the amount of the adjustment for basic and diluted earnings (loss) per share (if the entity is required to disclose earnings per share);
4) the amount of the adjustment to the opening balance of the earliest reporting period presented.
Along with this, it should be borne in mind that at present the explanatory note is not included in the accounting (financial) statements. At the same time, the explanations that are other appendices to the balance sheet and the income statement (Order N 66n) are included in the accounting (financial) statements (see, for example, the Ministry of Finance of Russia dated May 23, 2013 N 03-02-07/2/18285 ).
In this regard, if information about the errors committed (the nature of the errors and the amount of distortion of receivables and payables in the reporting for 2013-2014) is the most important information, without knowing which it is impossible to assess the financial position of the organization or the financial results of its activities, then the relevant information, in our opinion, may be reflected in the notes to the accounting (financial) statements for 2015 (without retrospective restatement). Otherwise, information about the errors committed is not reflected in the notes to the accounting (financial) statements for 2015. At the same time, when compiling reports for 2015, the indicators for 2015 must correspond to accounting data.

Prepared answer:
Legal Consulting Service Expert GARANT
Arykov Stepan

Response quality control:
Reviewer of the Legal Consulting Service GARANT
Queen Elena

The material was prepared on the basis of an individual written consultation provided as part of the service

The procedure for making corrections to the accounting will depend on the materiality of the error made, as well as on the period of its discovery.

Errors in accounting revealed later than the reporting deadline can become a real headache even for a very experienced accountant, since they involve additional labor and time costs for the recalculation of financial statements. Consider the question of what errors significantly affect accounting and how to correct them?

Significant or unimportant?

In PBU 22/2010 there is a division of accounting errors into significant and insignificant. A material error is understood to mean an error that (individually or together with others) affects the economic decisions made on the basis of financial statements in a given period.

There is no certain threshold in accounting regulations, after which the concept of material error can be assigned to an error. Identification of errors is an independent process for any taxpayer, and the expression of errors can be determined by him both in absolute numbers and in percentage terms. In any case, the level after which the error becomes material should be prescribed in the accounting policies of the company.

Whenever and how you identify errors in accounting, the Bukhsoft online system for accounting electronic reporting will allow you to quickly resolve the issue and transfer the necessary information to the supervisory authorities.

Ways to correct significant errors

For significant errors in accounting in 2017, there are a number of requirements for correction. To begin with, we will analyze the methods of correction, they depend on the documents in which the error was made - directly in the reporting or in the primary documentation, on the timing of detection and on the aforementioned materiality of the error.

There are the following ways to correct the primary and registers:

  • The corrective method is valid only for paper media. Incorrect data is simply crossed out, while the primary information should be visible under the strikethrough. The correct entry is made next to it. The correction is certified by a responsible person, for example, the chief accountant, the date and seal of the company are affixed, if any (clause 7, article 9 of the Federal Law of December 6, 2011 No. 402-FZ).

An important point, in a number of documents, this method of correction is unacceptable - this is banking and cash documentation.

  • The red storno method is used to correct account entries. If the input was handwritten on paper, then the erroneous wiring is repeated with red paste. The amounts highlighted in red in the transaction are deducted when calculating the totals. The incorrect entry should be canceled and the posting repeated with the correct data. If software is used to enter information, as a rule, it is enough to make the same posting, but indicate the amount in it with a minus sign. After making the correct entry. Incorrect posting will be automatically deducted by the program.
  • Additional posting - this method of correcting errors is used if the original correspondence of the accounts is correct, but they indicate the wrong amounts, or if the transaction was recorded late. If the amount is missing in the initial posting, an additional amount is made with the remaining amount, if, on the contrary, the amount was overstated, then the additional posting is made with the excess difference and is posted using the red reversal method. In addition, with this method of correction, an explanation is needed, which indicates the reason for the corrections.

The procedure for correcting errors in accounting for 2016

The procedure for making corrections will again depend on the significance of the error made, as well as on the period of its discovery. Namely:

  • If an error was identified in the accounting for 2016 in the same 2016, corrections can be made in the month in which the inaccuracy was discovered. If the next calendar year has already begun, but the reporting has not yet been signed and submitted to the regulatory authority, you can make amending entries in December 2016.
  • If the error in the accounting statements of 2016 has the status of material, while the statements have already been signed, but not yet approved, corrections are also made in December 2016. In the new submitted reporting, it should be stated that it is replacing the previously submitted one and indicate the reason for the replacement.

An important point: the new reporting with the correction of the error is submitted to all instances where the previous information was previously sent.

Of course, in the middle of the year there is no need to talk about this method of correcting errors, but this option will also be valid for accounting for 2017.

  • If the error is insignificant and was made in 2016, but the accountant discovered it only in 2017, when the financial statements for the previous year had already been approved and submitted, corrections are made to the accounting records in the month the error was discovered in 2017. Losses incurred or, on the contrary, profits received due to this error should be transferred to account 91.
  • If a significant error in the accounting for 2016 was identified after the approval and submission of information to the supervisory authorities in 2017, then corrections should be made to the accounting accounts as early as 2017. In postings, account 84 is used.

Significant errors of previous reporting periods, corrected in the current period, must be indicated in the explanatory note to the 2017 annual financial statements.

It should be noted that the Ministry of Finance, in its letter dated January 22, 2016 No. 07-01-09 / 2235, indicated that companies themselves can develop an algorithm for correcting errors in accounting, guided by the provisions of the current Russian legislation. Any chosen order must be fixed by the provisions in the accounting policy of the organization.

Debit 20 Credit 68 sub-account "Calculations on property tax of organizations"
- 30,000 rubles. - reflects the additional charge of corporate property tax for the 1st quarter.

How to correct significant errors in past periods in accounting

Significant errors of the previous year discovered prior to the approval of the annual accounts for that period, using the appropriate accounts for cost, income, settlements, etc.

If significant errors of previous years are identified, the reporting for which is signed and approved, using account 84 "Retained earnings (uncovered loss)" (subclause 1 clause 9 PBU 22/2010).

There are two options.

Option 1. When, as a result of an error, the accountant did not reflect any income or overestimated the expense, make a posting:

Debit 62 (76, 02...) Credit 84

- erroneously unreported income (overreported expense) of the previous year was detected.

Option 2. If, as a result of an error, the accountant did not reflect any expense or overestimated income, make the following entry:

Debit 84 Credit 60 (76, 02...)

- an erroneously unreported expense (overreported income) of the previous year was identified.

But what to do when mistakes were made not only in accounting, but also in tax accounting?

Then in will have to make the necessary contributions. Here, for example, what kind of posting should be done for income tax if the tax base was underestimated:

- additionally accrued income tax of the previous year according to the revised declaration.

In when, as a result of an error, taxes were overpaid, make entries based on those fixes that you will do in tax accounting. There can be three situations here.

1. If you are filing an amended tax return for the year in which the error was made, then record:

Debit 68 subaccount "Income Tax" Credit 84

– the income tax of the previous year was reduced according to the revised declaration.

2. Correcting errors in tax accounting for the current period, make a posting in accounting:

Debit 68 subaccount "Income Tax" Credit 99

- a permanent tax asset is reflected due to the fact that expenses (reduced income) relating to the previous year are recognized in the tax accounting of the current period.

3. When it was decided not to correct the error in tax accounting, then additional entries do not need to be made. Since in accounting, the correction of significant errors does not affect the accounts of the financial results of the current period.

How to correct insignificant errors of past periods in accounting

Correct insignificant errors in accounting. Profit or loss that will arise as a result of adjustments, reflect on account 91 “Other income and expenses”. It does not matter whether the reporting was approved by the time the error was discovered or not. This conclusion follows from paragraph 14 of PBU 22/2010.

If, as a result of an insignificant error, the accountant did not reflect any income or overestimated expenses, make a posting:

Debit 60 (62, 76, 02...) Credit 91-1

- erroneously unreported income (overreported expense) was detected.

When, as a result of an insignificant error, the accountant did not reflect any expense or overestimated income, make a note:

Debit 91-2 Credit 02 (10, 41, 60, 62, 76...)

- an erroneously unreported expense (overreported income) was identified.

Editing minor errors in accounting affects the accounts of the financial results of the current year, in tax this does not always happen. That means there will be permanent differences , which must be reflected in accounting in accordance with the rules of PBU 18/02.

There are two options. When income tax due to minor errors was underestimated or overestimated.

Option 1 - income tax is understated. In this case, in tax accounting, corrections are made and an updated tax return is submitted for the period in which the error was made. At the same time, income tax is charged. However, in accounting they do it . At the same time, it is necessary to reflect in the accounting permanent tax asset :

Debit 68 subaccount "Calculations for income tax" Credit 99 subaccount "Permanent tax assets"

- reflects a permanent tax asset.

An example of correcting an insignificant error (unrecorded income) in accounting and tax accounting. The mistake was made last year, the reporting for which was signed and approved

In March 2016, the accountant of Alfa LLC discovered an error when calculating income tax for 2015 - revenue from the sale of goods in the amount of 250,000 rubles was not taken into account. Income in Alpha is recognized equally in both tax and accounting records. As a result, the organization underpaid tax, the amount of which amounted to 50,000 rubles. (250,000 rubles × 20%).

The accountant filed an updated income tax return for 2015 and made the following entries:

Debit 62 Credit 91 sub-account "Other income"
- 250,000 rubles. - reflected income (sales proceeds) of the last tax period, identified in the reporting year;

Debit 99 sub-account "Income tax surcharge due to the detection of errors"

- 50,000 rubles. – additionally accrued income tax of the previous year according to the revised declaration;

Debit 68 subaccount "Calculations for income tax"
Credit 99 sub-account "Permanent tax asset"
- 50,000 rubles. - a permanent tax asset is reflected in the amount of proceeds from the sale of 2015, which is shown in accounting in income of 2016, and in tax accounting - in income of 2015.

For the 1st quarter of 2016, the amount of tax payable is 170,000 rubles. Thus, the total income tax debt to the budget amounted to 220,000 rubles. (170,000 rubles + 50,000 rubles), including 170,000 rubles. - current income tax and 50,000 rubles. – surcharge due to a past period error. Alpha accountant makes the following posting:

Debit 99 subaccount "Conditional income tax expense"
Credit 68 sub-account "Calculations for income tax"
- 220,000 rubles. - reflected the conditional income tax expense.

Option 2 - income tax is too high. In this case, the accountant makes his own decision , what period to make an edit or even not to do it at all.

If he corrects the error by recalculating the tax of the current period, then he will make changes in both accounting and tax accounting at the same time. There will be no difference. They will arise only if the accountant decides to submit an updated declaration for the past period or not to make changes at all. Then the tax profit of the current period will be greater than that obtained in accounting. That means there will be permanent tax liability . Reflect it in the accounting as follows:

- reflects a permanent tax liability.

This follows from paragraphs 4, 7 PBU 18/02.

An example of correcting an insignificant error (unrecorded expense) in accounting and tax accounting. The mistake was made last year, the accounts for which were signed and approved. In tax accounting, an error is corrected in the period in which it was made.

In March 2016, the accountant of Alfa LLC discovered an error when calculating income tax for 2015 - expenses (cost of goods sold) in the amount of 150,000 rubles were not taken into account. Expenses are equally recognized in tax and accounting. As a result, the organization overpaid tax, the amount of the overpayment amounted to 30,000 rubles. (150,000 rubles × 20%).

Alfa's accountant filed an updated income tax return for 2015 and made the following entries:

Debit 91 sub-account "Other expenses" Credit 41
- 150,000 rubles. - reflects the expenses (cost of goods sold) of the last tax period identified in the reporting year;

Debit 68 sub-account "Calculations on income tax" Credit 99 sub-account "Overpayment of income tax on the revised declaration"
- 30,000 rubles. – the income tax of the previous year was reduced according to the revised declaration;

Debit 99 subaccount "Permanent tax liabilities" Credit 68 subaccount "Calculations for income tax"
- 30,000 rubles. - reflected a permanent tax liability for the amount of expenses in 2015, which is shown in accounting in expenses in 2016, and in tax accounting - in expenses in 2015.

For the 1st quarter of 2016, the amount of tax payable to the budget is 110,000 rubles. The balance sheet profit is less than the tax profit due to the expenses taken into account for taxation in the revised declaration of the previous year. The tax calculated on the balance sheet profit is 80,000 rubles. (110,000 rubles - 30,000 rubles). The accountant makes the following entry:

Debit 99 subaccount "Conditional income tax expense" Credit 68 subaccount "Calculations for income tax"
- 80,000 rubles. - reflected the conditional income tax expense.

Taking into account the overpayment of tax for 2015, 80,000 rubles must be transferred to the budget. (110,000 rubles - 30,000 rubles).

Attention: There is an opinion that all expenses that are not taken into account when calculating income taxes should be reflected in accounting as part of others. This is not true. For a mistake officials will be fined . If, as a result, taxes are also underestimated, then the organization itself will be punished, and fines will increase . But there is a way out.

If during the audit they find a similar mistake of previous years, due to which the reporting and taxes are distorted, then it will not be possible to avoid liability. You will mitigate the consequences if you recalculate taxes and pass the correct information , pay a penalty.

As for the mistakes of the current year, everything is fixable. If you correctly qualify the expenses, then you will successfully generate reports and calculate taxes. Erroneous entries .

Remember, expenses are taken into account depending on their purpose and the conditions under which they are incurred. So, for example, in accounting, costs are attributed not only to others, but also to expenses for ordinary activities (clause 4 of PBU 10/99).

Alpha Organization pays compensation to an employee when his car is used for business purposes. Compensation is 5000 rubles. per month. But when calculating income tax, only 1200 rubles are taken into account. (Decree of the Government of the Russian Federation of February 8, 2002 No. 92).

Error!

Debit 20 Credit 73
- 1200 rubles. – Compensation was accrued to an employee for a personal car within the limits;

Debit 91-2 Credit 73
- 3800 rubles. - Compensation was accrued to an employee for a personal car in excess of the norms.

Correct like this:

Debit 20 (26, 44…) Credit 73
- 5000 rubles. - Compensation paid to an employee for a personal car.

Here's how to fix the error:

Debit 91-2 Credit 73
- 3800 rubles. – compensation to an employee for a personal car in excess of the norms was reversed;

Debit 20 Credit 73
- 3800 rubles. - Compensation paid to an employee for a personal car.

A mistake was made in accounting for a small business

Significant accounting errors of previous years small businesses , can be corrected in the same order as . That is, without a retrospective recalculation of financial statements (clause 9 of PBU 22/2010, part 4 of article 6 of the Law of December 6, 2011 No. 402-FZ).

An example of a correction in accounting and reporting of a significant error (overreported expense) by a small business. The mistake was made last year, the reporting for which was signed and approved

Alfa LLC is a small business. In March 2016, after the approval of the financial statements for 2015, Alfa's accountant revealed an error made in the first quarter of 2015.

The accounting reflected the cost of work performed by the contractor in March 2015 - 50,000 rubles. (without VAT). The act also indicates the amount of 40,000 rubles. (without VAT). The work performed was paid to the contractor in full (40,000 rubles) in March 2015. Thus, as of December 31, 2015, an account payable in the amount of overwritten expenses of 10,000 rubles was formed in Alpha's accounting.

Alpha's accounting policy states that material errors of previous years identified after the approval of financial statements are corrected without retrospective restatement.

March 2016:

Debit 60 Credit 91-1
- 10,000 rubles. - reflects the cost of the contractor's work, erroneously attributed to expenses in the 1st quarter of 2015.

Since the financial statements for 2015 have already been approved, no corrections are made to them.

Corrections are made in accounting in 2016. In tax accounting, corrections are made in the period of the error. In this regard, Alfa's accountant filed an updated income tax return for 2015.

Alpha is a small business, therefore PBU 18/02 does not apply. This means that the accountant will not have to reflect the discrepancies between accounting and tax accounting data.

Impact of past period errors on current reporting

Correction of significant errors of the previous year, identified after the approval of the accounting, affects the balance sheet and other forms of the current year. Only when it is impossible to establish a connection between an error and a specific period, as well as to determine its impact on all previous periods, no corrections will have to be made.

So, in the current reporting it is necessary to recalculate comparable indicators of previous periods. Do it as if the mistake never happened. This is called a retrospective restatement. This follows from subparagraph 2 of paragraph 9 of PBU 22/2010.

Example of correction in accounting and reporting of a significant error (overreported expense) by an enterprise that is not small. The mistake was made last year, the reporting for which was signed and approved

In March 2016, after the approval of the financial statements for 2015, the accountant of Alfa LLC revealed an error made in the first quarter of 2015.

The accounting reflected the cost of work performed under the act received from the contractor in March 2015 in the amount of 50,000 rubles. (without VAT). In fact, the act indicates the amount of 40,000 rubles. (without VAT). The work performed was paid to the contractor in full (40,000 rubles) in March 2015. Thus, as of December 31, 2015, an account payable in the amount of overwritten expenses of 10,000 rubles was formed in Alpha's accounting.

Excess write-offs accountant reflected in the accounting as follows.

March 2016:

Debit 60 Credit 84
- 10,000 rubles. - reflects the cost of the contractor's work, erroneously attributed to expenses in the 1st quarter of 2015;

Debit 84 Credit 68 sub-account "Income Tax"
- 2000 rubles. (10,000 rubles × 20%) - additional income tax is charged.

Since the financial statements for 2015 have already been approved, no corrections are made to them.

Therefore, the accountant of Alpha reflected the result of the corrections in the financial statements for 2016 in the sections where the indicators of 2015 are recorded. At the same time, he corrected the data as if there had never been an error (if expenses in the amount of 40,000 rubles were initially reflected). In the column for comparative indicators of 2015 for the lines of cost and profit (Report on financial results approved by order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n), the accountant reflected the amount by 10,000 rubles. different from the one that stands on the same lines in the reporting of 2015 for the corresponding period. In the balance sheet for 2016, the opening balances as of January 1, 2016 were recalculated by the accountant based on the cost of work performed indicated in the act, equal to 40,000 rubles, and not 50,000 rubles. Income tax increased by 2000 rubles.

In addition, the accountant of Alpha submitted an updated declaration income tax for 2015.

A significant mistake may have been made more than two years ago. In this case, you need to adjust the opening balances for the relevant reporting items at the beginning of the earliest year presented. This is stated in paragraph 11 of PBU 22/2010.

If it is impossible to determine the impact of a material error on one (or more) of the previous reporting periods presented in the financial statements, the opening balance is adjusted to the beginning of the earliest of the periods for which recalculation is possible. This situation may arise if, in order to determine the impact of the error on the previous reporting period:

  • complex and (or) numerous calculations are required, during which it is impossible to extract information about the circumstances that existed at the date of the error;
  • it is necessary to use the information received after the date of approval of the financial statements for the previous reporting period.

This procedure is prescribed in paragraphs 12, 13 PBU 22/2010.



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