How to reflect profit of the previous years

Quite often after the approval of the annual accounting report at the company identified revenues or expenses related to that period, in which case they must be recognized and reflected as profit or loss from previous years. To make any changes to the approved annual accounts impossible.

Instruction

1. If the profit of previous periods identified in the current period until the date of approval of the annual accounts, then make appropriate adjustment in the statements can the Dec month last year. Identified in the reporting year profit of the previous years, according to the "accounting Plan", is reflected in the correspondence with accounts of accounting of calculations on the loan sub-account "other income" related to the account No. 91. Profit of previous years, which were identified in the current reporting period should be reflected in other income on the basis of the Provisions on bookkeeping, approved by the Ministry of Finance.
2. The amount of other income should be considered as permanent differences as the source of formation of the tax asset. In the result of error correction, the amount recognized in other income, are excluded from the calculation of the tax base of the current and subsequent accounting periods for income tax. Impact of permanent tax assets have in the accounting transaction, debit account "payments for taxes" No. 68 and credited to "Profit and loss" № 99.
3. In case if it is not possible to determine the period to which the profit of the past years, it should be included with non-operating income for tax purposes.
4. At the bottom of the report On profits and losses" shall include data on tax liabilities, so you need to pay attention to the correctness of the report. Current tax on income is reflected in line 150 of the report, it must be equal to the total amount of income tax specified for the relevant reporting period in a tax return. The amount of tax on income at line 150 should not include the added tax amount.
5. In order to avoid distortion of the financial result of the current period, which should equal net profit for the reporting period, income tax of previous years should be reflected in the report On profits and losses " in a separate line, after the current income tax.