Correction of errors in accounting and reporting. Correction of the primary accounting document, order the right to sign PBU 22 correction of errors in accounting and reporting

Benefits for students - 03.04.2020

The Financial Department approved a new PBU - Accounting Regulations "Correction of Errors in Accounting and Reporting" (PBU 22/2010). This document will somewhat change the procedure for correcting errors. In this article, innovations are commented on by N.N. Tomilo (Ministry of Finance of Russia).

Note:

What is considered an accounting error?

In order to improve the legal regulation accounting and reporting, the Ministry of Finance of Russia approved the Accounting Regulation "Correction of errors in accounting and reporting" - RAS 22/2010 (order No. 63n dated June 28, 2010, registered with the Russian Ministry of Justice No. 18008 on July 30, 2010) and forms of financial statements of organizations (order dated 02.07.2010 No. 66n, registered with the Ministry of Justice of Russia on 02.08.2010 No. 18023)*

Note:
* Accounting statements will change starting from 2011, comments on new forms will be published in the journal later.

PBU 22/2010 should be applied by organizations that are legal entities according to the legislation of the Russian Federation (with the exception of credit organizations and budget institutions) from the annual financial statements for 2010.

PBU 22/2010 defines that an incorrect reflection or non-reflection of facts is recognized as an error economic activity in the accounting and (or) financial statements of the organization. The reasons for errors may be different: incorrect application of the legislation of the Russian Federation on accounting and (or) regulatory legal acts on accounting, incorrect application accounting policy organizations; incorrect classification or assessment of the facts of economic activity; improper use of information available at the date of signing the financial statements; dishonest actions of officials of the organization, inaccuracies in calculations.

For example, the organization did not conduct an inventory of property when changing material responsible person- Warehouse worker. However, in accordance with Article 12 of the Federal Law of November 21, 1996 No. 129-FZ "On Accounting", in order to ensure the reliability of accounting data and financial statements, the organization was obliged to conduct an inventory. In this case, there is an error associated with the incorrect application of the legislation of the Russian Federation on accounting.

Let's take another example. Since 2007, the organization has been revaluing its land plot and reflecting the results of the revaluation in the financial statements. However, in accordance with the Guidelines for the accounting of fixed assets, approved by order of the Ministry of Finance of Russia dated October 13, 2003 No. 91n, land and objects of nature management (water, subsoil and other Natural resources) are not subject to revaluation. Thus, there is an error in accounting and reporting associated with the incorrect application of regulatory legal acts on accounting.

According to PBU 22/2010, inaccuracies or omissions in the reflection of the facts of economic activity in the accounting and (or) financial statements of the organization, identified as a result of obtaining new information that was not available to the organization at the time of reflection (non-reflection) of such facts of economic activity are not errors.

So, for example, in accordance with PBU 7/98 "Events after the reporting date", approved by order of the Ministry of Finance of Russia dated November 25, 1998 No. 56n, if in the period between the date of signing the financial statements and the date of its approval, the organization received new information about events after the reporting date disclosed in the financial statements submitted to users, and (or) events have occurred (identified) that may have a significant impact on financial condition, motion Money or the results of the organization's activities, the organization informs the persons to whom these financial statements were presented. Such circumstances are not related to errors in accounting and reporting. But if the organization does not inform the persons to whom the financial statements were presented, then an error will occur related to the incorrect application of the regulatory legal act on accounting.

Major and minor errors

To choose the order in which errors are corrected, the organization should divide them into major and non-material.

According to PBU 22/2010, an error is recognized as significant if it, individually or in combination with other errors for the same reporting period may affect economic decisions users accepted by them on the basis of financial statements compiled for this reporting period. The organization determines the materiality of the error on its own, based on both the size and the nature of the relevant article (articles) of the financial statements.

Note that a similar definition regarding the materiality of financial statements indicators is given in the Instructions on the procedure for compiling and presenting financial statements, approved by order of the Ministry of Finance of Russia dated July 22, 2003 No. 67n. However, unlike the norms of this order, PBU 22/2010 does not contain recommendations on the percentage (5%) benchmark as a sign of materiality. In practice, the percentage benchmark often leads to formal approach to the definition of materiality, and materiality - above all quality characteristic information.

Error Correction Procedure

All identified errors and their consequences are subject to mandatory correction. The procedure for correcting errors is as follows.

An error in the reporting year, detected before the end of this year, is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was discovered.

The error of the reporting year, revealed after the end of this year, but before the date of signing the financial statements for this year, is corrected by entries in the relevant accounting accounts for December of the reporting year.

Example 2

An insignificant error of the previous reporting year, 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.

Example 2

It also corrects a significant error of the previous reporting year, identified after the date of signing the financial statements for this year, but before the date of submission of such statements in the prescribed manner.

If the financial statements, in which a material error was found, were submitted to any other (external) users, then it is subject to replacement with the statements in which the identified material error has been corrected. This is called revised reporting. financial statements. When providing it to users (to all addresses that it was submitted earlier), it should be indicated that it replaces the originally submitted financial statements and indicate the reasons for such a revision.

If a significant error is detected after the approval of the financial statements in the prescribed manner, then the organization must:
- produce accounting records on the relevant accounting accounts in the current reporting period in correspondence with account 84 "Retained earnings ( uncovered loss)";
- retrospectively recalculate the comparative indicators of financial statements (assets, liabilities and capital) for the reporting periods reflected in the organization's financial statements for the current reporting year.

Retrospective recalculation of comparative indicators of financial statements means such a correction of financial statements as if the error of the previous reporting period had never been made.

Retrospective restatement is made in relation to comparative indicators starting from the previous reporting period in which the identified error was made.

This method of correcting errors can be used if it is possible to establish a connection of this error with a specific period, or it is possible to determine the impact of this error on a cumulative total in relation to all previous reporting periods.

If a significant error was made before the beginning of the earliest of the previous reporting periods presented in the financial statements for the current reporting year, the opening balances for the corresponding items of assets, liabilities and equity at the beginning of the earliest of the reporting periods presented are subject to adjustment.

If the influence is determined material error for one or more of the preceding reporting periods presented in the financial statements is not possible, the entity must adjust the opening balance of the relevant items of assets, liabilities and equity at the beginning of the earliest period for which restatement is possible.

PBU 22/2010 indicates that it is impossible to determine the impact of a material error on the previous reporting period if complex and (or) numerous calculations are required, during which it is impossible to isolate information that indicates the circumstances that existed on the date of the error, or it is necessary to use the information obtained after the date of approval of the financial statements for such previous reporting period.

When correcting a significant error of the previous reporting year, identified after the approval of the financial statements, the approved financial statements for the previous reporting periods are not subject to revision, replacement and re-submission to users of the financial statements.

AT explanatory note to the annual financial statements, the organization must disclose the following information in relation to material errors of previous reporting periods corrected in the reporting period:

the nature of the error;
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;
the amount of the adjustment for basic and diluted earnings (loss) per share (if the entity is required to disclose earnings per share);
the amount of the adjustment to the opening balance of the earliest reporting period presented.

If it is impossible to determine the impact of a material error on one or more previous reporting periods presented in the financial statements, then in the explanatory note to the annual financial statements it is necessary to disclose the reasons why this is not possible, and also describe how the correction of a material error is reflected in the financial statements of the organization and indicate the period from which the corrections were made.

Note also that, in accordance with federal law dated November 21, 1996 No. 129-FZ "On Accounting" making corrections to cash and banking documents not allowed. Corrections to other primary accounting documents can only be made by agreement with the participants business transactions, which must be confirmed by the signatures of the same persons who signed the documents, indicating the date the corrections were made.

Errors in primary documents created manually (with the exception of cash and banking), in accordance with the Regulations on Documents and Workflow in Accounting, approved by the USSR Ministry of Finance on July 29, 1983 No. 105, are corrected as follows: the incorrect text or amounts are crossed out and the corrected text is inscribed over the crossed out or amounts. Strikethrough is done with one line so that you can read the corrected one. Correction of an error in the primary accounting document must be indicated by the inscription "corrected", confirmed by the signature of the persons who signed the document with the date of the correction.

Other innovations

As indicated at the beginning of the article, another element of improving the legal regulation of accounting and reporting was the approval of new forms of accounting.

Forms of financial statements of organizations, approved by order of the Ministry of Finance of Russia dated 02.07.2010 No. 66n, should be applied from the annual financial statements for 2011. The order provides for the possibility of using a simplified system for the formation of financial statements by small businesses.

When preparing this order, changes in regulatory legal acts on accounting for the period after the adoption of the order of the Ministry of Finance of Russia dated July 22, 2003 No. 67n "On the forms of financial statements of organizations". In addition, given the practice of applying PBU 4/99 "Accounting statements of an organization", approved by order of the Ministry of Finance of Russia dated 06.07.1999 No. 43n, columns appeared in the balance sheet to reflect indicators for 3 reporting dates. The balance sheet includes a column for explanations of the indicators contained in the statements.

In the form of the Profit and Loss Statement, such an indicator as "cumulative financial results period", defined as the sum of the indicators "Net profit (loss)", "Result from the revaluation of non-current assets, not included in net profit(loss) of the period" and "Result from other operations, not included in the net profit (loss) of the reporting period".

4. Identified errors and their consequences are subject to mandatory correction.

5. An error in the reporting year, detected before the end of this year, is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was discovered.

6. An error in the reporting year, detected after the end of this year, but before the date of signing the financial statements for this year, is corrected by entries in the relevant accounting accounts for December of the reporting year (the year for which the annual financial statements are prepared).

7. Significant error of the previous reporting year, revealed after the date of signing the financial statements for this year, but before the date of submission of such statements to shareholders joint-stock company, participants of a limited liability company, public authority, body local government or other body authorized to exercise the rights of the owner, etc., is corrected in the manner prescribed by paragraph of this Regulation. If the specified financial statements were presented to any other users, then they must be replaced with statements in which the identified material error has been corrected (revised financial statements).

8. Significant error of the previous reporting year, revealed after the submission of financial statements for this year to shareholders of a joint-stock company, participants in a limited liability company, a state authority, a local government body or another body authorized to exercise the rights of the owner, etc., but before the date of approval of such reporting in accordance with the established legislation Russian Federation order, corrected in the manner prescribed by paragraph of this Regulation. At the same time, the revised financial statements disclose information that these financial statements replace the originally presented financial statements, as well as the grounds for compiling the revised financial statements.

The revised financial statements are submitted to all addresses to which the original financial statements were submitted.

9. 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.

Organizations that have the right to apply simplified methods of accounting, including simplified accounting (financial) statements, may correct a significant error of the previous reporting year, identified after the approval of the accounting statements for this year, in the manner prescribed by paragraph of this Regulation, without a retrospective recalculation.

10. In case of correction of a significant error of the previous reporting year, identified after the approval of the financial statements, the approved financial statements for the previous reporting periods are not subject to revision, replacement and re-submission to users of the financial statements.

11. If a significant error was made before the beginning of the earliest of the previous reporting periods presented in the financial statements for the current reporting year, the opening balances for the corresponding items of assets, liabilities and equity at the beginning of the earliest of the reporting periods presented are subject to adjustment.

12. If it is not possible to determine the effect of a material error on one or more of the prior reporting periods presented in the financial statements, the entity shall adjust the opening balance of the relevant asset, liability and equity items at the beginning of the earliest period for which restatement is possible.

13. The impact of a material error on the previous reporting period cannot be determined if complex and (or) numerous calculations are required, during which it is impossible to isolate information that indicates the circumstances that existed on the date of the error, or it is necessary to use information obtained after the date of approval of the financial statements for such prior reporting period.

14. 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.

In the article offered to the attention of readers by M.L. Pyatov and I.A. Smirnova (St. Petersburg State University) analyze the content of the new PBU 22/2010 "Correction of errors in accounting and reporting", which, according to the authors, is another significant step towards the convergence of domestic regulatory legal acts and IFRS.

According to the Order of the Ministry of Finance of the Russian Federation, this PBU is applied from the preparation of financial statements for 2010. The introductory provision of the PBU contained in paragraph 1 determines that this Russian accounting standard"establishes the rules for correcting errors and the procedure for disclosing information about errors in accounting and reporting of organizations that are legal entities under the legislation of the Russian Federation (with the exception of credit organizations and budgetary institutions) (hereinafter referred to as organizations)".

New PBU

A very important characteristic of the content of IFRS is that the provisions they define, which form modern accounting practice, primarily relate not to the accounting procedure, but directly to the content of the reporting. IFRS, therefore, consider accounting precisely as the practice of creating information about financial position business entities. This information is necessary for the market and influences the decisions of the participants economic relations defining the real economic reality. This information, that is, the content of financial statements, should be as adequate as possible to economic reality. Such adequacy, among other things, is determined by the compliance of the data presented with the point in time at which the reporting will be considered and analyzed by its users. The process of reporting on the financial position of a firm is inevitably subject to both objective and subjective errors. And here it is important not only to find such errors, but also to eliminate their impact on the information that users of reporting data receive in a timely manner. A separate IFRS is devoted to the issue of correcting errors in accounting and reporting. Now, domestic accounting practice has also received an independent standard (PBU), which determines the procedure for correcting errors made in accounting and reporting.

Such a standard is the Accounting Regulation "Correction of errors in accounting and reporting" (PBU 22/2010), which approved the order of the Ministry of Finance of the Russian Federation of June 28, 2010 No. 63n was registered with the Ministry of Justice of the Russian Federation on July 30, 2010 under No. 18008.

According to the Order of the Ministry of Finance of the Russian Federation, this PBU is applied from the preparation of financial statements for 2010. The introductory provision of the PBU, contained in paragraph 1, determines that this Russian accounting standard "establishes rules for correcting errors and the procedure for disclosing information about errors in accounting and reporting of organizations that are legal entities under the legislation of the Russian Federation (with the exception of credit organizations and budgetary institutions) (hereinafter referred to as organizations).

What is an error?

Paragraph 2 of PBU 22/2010 defines an accounting error. According to PBU, an error is understood as "incorrect reflection (non-reflection) of the facts of economic activity in the accounting and (or) financial statements of the organization."

It is curious that the concept of "wrong" PBU is not defined. Probably, the meaning of this term should be obvious to specialists using PBU and be interpreted exclusively in the traditional meaning of this word when it is used in Russian. It is curious that even the famous "Dictionary of the Russian Language" by S.I. does not give an interpretation of the word "wrong". Ozhegov. However, the dictionary gives us an interpretation of the word "correct". According to Ozhegov, "correct" means "not deviating from the rules, norms"*. Accordingly, "wrong" means deviating from such "rules and norms".

Therefore, in our case, we can assume that "incorrect reflection (non-reflection) of the facts of economic activity in the accounting and (or) financial statements of the organization" is their reflection not in accordance with the requirements of the current regulatory documents.

Note:
* S.I. Ozhegov Dictionary of the Russian language. M.: "Russian language", 1984, p. 511.

Further, paragraph 2 of PBU 22/2010 provides a list of reasons that may cause an error. The list is not closed, which we can understand from the wording of the PBU text, according to which "incorrect reflection", "(hereinafter referred to as the error) may be due to, in particular":

"incorrect application of the legislation of the Russian Federation on accounting and (or) regulatory legal acts on accounting;
incorrect application of the organization's accounting policies;
inaccuracies in calculations;
incorrect classification or assessment of the facts of economic activity;
incorrect use of information available at the date of signing the financial statements;
dishonest actions of officials of the organization.

Defining the concept of an accounting error, PBU also indicates cases that cannot be qualified as an error. Here, according to paragraph 2 of PBU 22/2010, "inaccuracies or omissions in the reflection of the facts of economic activity in the accounting and (or) financial statements of the organization, identified as a result of obtaining new information that was not available to the organization at the time of reflection (non-reflection) are not errors ) such facts of economic activity".

What is considered a significant error?

Defining the concept of an accounting error, PBU 22/2010 introduces the concept of materiality of an error. According to PBU, "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."

Thus, the criterion for qualifying an error as significant is the degree of its potential impact on the opinion of users about the financial position of the company, reflected in its financial statements. So, for example, the user of reporting according to the balance sheet estimates the solvency of the company. Determining its solvency, he compares the assessment of the most liquid property reflected in the "current assets" section with the amount of the organization's short-term liabilities. And here, if, for example, the valuation of assets is unjustifiably overestimated (assuming that the depreciation of product inventories is not reflected), the user may form an opinion about the level of solvency of the company that does not correspond to reality. However, if reserves are overestimated by 100 rubles, and their total value presented in the statements is 1,000,000 rubles, such an error can hardly be considered significant.

Attention should be paid to another extremely important provision of paragraph 3 of PBU 22/2010. The standard establishes that "the organization determines the materiality of the error independently, based on both the size and nature of the relevant item (s) of the financial statements." Determining the materiality of an error thus became another potential application of the professional judgment of an accountant in practice. And it must be said that this option for the implementation of professional judgment is very difficult, since it involves the implementation of the accountant's opinion regarding the possibility of an error to influence the opinion of the reporting user.

How to fix the error?

Paragraph 4 of PBU 22/2010 contains general rule, according to which, "identified errors and their consequences are subject to mandatory correction."

However, "mistakes are different", and here, determining the procedure for correcting errors, PBU identifies 6 types of them, depending on the moment of detection and the degree of significance of a particular error.

Separately, the procedure for correcting an error is determined in the following cases:
- (1) material and non-material errors of the reporting year identified before the end of that year;
- (2) material and non-material errors of the reporting year identified after the end of that year;
- (3) significant errors of the previous reporting year, revealed after the date of signing the financial statements for this year, but before the date of submission of such statements to shareholders of a joint-stock company, participants in a limited liability company, a state authority, a local government body or another body authorized to exercise the rights owner, etc.;
- (4) significant errors of the previous reporting year, revealed after the presentation of financial statements for this year to shareholders of a joint-stock company, participants in a limited liability company, a state authority, a local government body or another body authorized to exercise the rights of the owner, etc., but before the date of approval of such reporting in accordance with the procedure established by the legislation of the Russian Federation;
- (5) material errors of the previous reporting year revealed after the approval of the financial statements for that year;
- (6) minor errors of the previous reporting year, identified after the date of signing the financial statements for that year.

Consider the instructions of the PBU regarding the procedure for correcting errors in these situations.

According to paragraph 5 of PBU 22/2010, an error in the reporting year identified before the end of this year is corrected by entries in the relevant accounting accounts in the month of the reporting year in which the error was discovered.

Accordingly, “reverse” entries are either made in accounting, or reversal entries are made, and after that a proper entry is made to the accounts *.

Note:
It should be borne in mind here that although reverse entries are the error correction method adopted in the accounting practice of English-speaking countries, their significant drawback is the possible distortion of account turnover, which makes the reversal method more preferable.

In accordance with paragraph 6 of the PBU under consideration, an error in the reporting year detected after the end of this year, but before the date of signing the financial statements for this year, is corrected by entries in the relevant accounting accounts for December of the reporting year (the year for which the annual financial statements are prepared). Here the procedure is similar to the previous case, but all corrections are made in December.

According to clause 7 of the PBU, if the error made is recognized as significant, and at the same time it already refers to the previous reporting year, and was also identified after the date of signing the financial statements for this year, but before the date of submission of such statements to shareholders of a joint-stock company, participants in a limited company responsibility, public authority, local government or other body authorized to exercise the rights of the owner, etc., then it must be corrected in the manner prescribed by clause 6 of the PBU.

Therefore, here too, either "reverse" entries are made, or reversal entries are made, and then a proper entry is made to the accounts, with all corrections posted in December. Separately, it is established that if the specified financial statements were presented to any other users, then they must be replaced with statements in which the identified material error has been corrected. The PBU refers to such amended financial statements as "restated financial statements".

According to paragraph 8 of PBU 22/2010, if "a significant error of the previous reporting year, identified after the presentation of financial statements for this year to shareholders of a joint-stock company, participants in a limited liability company, a state authority, a local government body or another body authorized to carry out the rights of the owner, etc., but before the date of approval of such reporting in accordance with the procedure established by the legislation of the Russian Federation "must also be corrected" in the manner established by paragraph 6 of these Regulations. This means that in this case either "reverse" entries are made, or reversal entries are made and then the proper entry is made to the accounts, with all corrections posted in December.

However, here, in the revised financial statements, information should already be disclosed that these financial statements replace the originally presented financial statements, and the grounds for compiling the revised financial statements should also be reported.

According to paragraph 9 of PBU 22/2010, if a significant error of the previous reporting year was identified after the approval of the financial statements for this year, it 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 " .

At the same time, according to PBU, "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 carried out in relation to comparative indicators starting from that previous reporting period presented in the financial statements for the current reporting year in which the corresponding error was made.

In other words, when correcting an error of this kind, the accountant in the current reporting period must make corrective entries on the accounting accounts in correspondence with account 84 "Retained earnings (uncovered loss)" and recalculate the corresponding reporting indicators for previous periods as if there were no errors allowed.

So, for example, in the financial statements of the organization for 2009, an overcharged amount of depreciation was reflected, which affected the value of the reflected residual value fixed assets, the amount of reflected costs and, accordingly, the financial result. This error was revealed in 2010 after the approval of the reporting.

Reflecting the error on the accounting accounts, you should make a posting on the debit of account 02 "Depreciation of fixed assets" and the credit of account 84 "Retained earnings (uncovered loss)" for the amount of the error. Account adjustments can also be made by a write-back using the reversal method.

In the organization's balance sheet for 2010, the residual value of fixed assets and retained earnings at the beginning of the year should be corrected for the amount of excess depreciation.

Here it is important to pay attention to the fact that, according to paragraph 10 of PBU 22/2010, "in the event of correcting a significant error of the previous reporting year, identified after the approval of the financial statements, the approved financial statements for previous reporting periods are not subject to revision, replacement and re-submission to users of financial statements ".

Regarding the procedure for retrospective correction of reporting when an error is detected, PBU 22/2010 also contains a number of additional rules. According to paragraph 11 of PBU 22/2010, "if a material error was made before the beginning of the earliest of the previous reporting periods presented in the financial statements for the current reporting year, the opening balances for the corresponding items of assets, liabilities and capital at the beginning of the earliest of presented reporting periods. Paragraph 12 of the PBU establishes that "if it is impossible to determine the impact of a material error on one or more previous reporting periods presented in the financial statements, the organization must adjust the opening balance for the relevant items of assets, liabilities and equity at the beginning of the earliest of the periods, the restatement for which available".

According to paragraph 13 of the PBU, it is considered that "the impact of a material error on the previous reporting period cannot be determined if complex and (or) numerous calculations are required, during which it is impossible to isolate information that indicates the circumstances that existed at the date of the error, or it is necessary to use information received after the date of approval of the financial statements for such prior reporting period".

And, finally, paragraph 14 of PBU 22/2010 establishes that if the error of the previous reporting year identified after the date of signing the financial statements is not significant, it must be corrected by entries in the corresponding accounting accounts in the month of the reporting year in which it was detected. In this case, the profit or loss resulting from the correction of this error is reflected in other income or expenses of the current reporting period.

How to reveal the fact of fixing the error?

Special section III PBU 22/2010 is devoted to the disclosure of information about the correction accounting errors in reporting.

Clause 15 of the PBU establishes that 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."

At the same time, according to paragraph 16 of PBU, if it is impossible to determine the impact of a material error on one or more previous reporting periods presented in the financial statements, the reasons for this should be disclosed in the explanatory note to the annual financial statements, and a description of the method of reflection corrections of a material error in the financial statements of the organization and the period from which such corrections were made is indicated.

Results

Concluding our review of the content of the new PBU 22/2010 "Correction of errors in accounting and reporting", it should be noted that its content differs from the corresponding IFRS prescriptions in a more detailed qualification of errors and greater detail in the determined procedure for correcting them and disclosing this in the financial statements. This circumstance makes it possible to hope that the implementation of the new PBU in practice will not cause significant methodological difficulties.

Forms of primary documents determines the head of the organization on the proposal of the person who is entrusted with accounting (Law of December 6, 2011 No. 402-FZ).

Each fact of economic life is subject to registration by the primary accounting document. Mandatory details primary accounting document are:

Title of the document;
date of preparation of the document;
the name of the economic entity that prepared the document;
the content of the fact of economic life;
the value of the natural and (or) monetary measurement of the fact of economic life, indicating the units of measurement;
the title of the position of the person (persons) who made (completed) the transaction, operation and responsible (responsible) for the correctness of its execution, or the title of the position of the person (persons) responsible (responsible) for the correctness of registration of the event;
signatures of the persons provided for in paragraph 6 of this part, indicating their surnames and initials or other details necessary to identify these persons.

primary document must be drawn up at the time of the commission of the fact of economic life, and if this is not possible, immediately after its completion.

Primary accounting documents draw up on paper and (or) in the form of an electronic document signed electronic signature(Part 5, Article 9 of the Law of December 6, 2011 No. 402-FZ).

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How to correct errors in accounting documents

The procedure for correcting errors in primary documents must be fixed in for accounting purposes or in an appendix to it. The organization independently develops ways to make corrections to the primary (both on paper and in the form of an electronic document). Be guided by the requirements of the Law of December 6, 2011 No. 402-FZ, regulations on accounting and take into account the peculiarities of the document flow. When developing such methods, one can be guided by the current regulatory legal acts regulating similar issues (for example, the Rules for filling out an invoice, approved by Decree of the Government of the Russian Federation of December 26, 2011 No. 1137). This is stated in the letter of the Ministry of Finance of Russia dated January 22, 2016 No. 07-01-09 / 2235.

Errors in original documents can be corrected as follows

Due to extra information in the invoice, the tax authorities may not recognize it as a primary document. The risks increase if the supplier has printed an invoice on the back of any other primary. For example, an invoice that relates to a transaction with an outside company. They will say that the organization did not document the expenses, which means that they wrote them off illegally.

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PBU 22/2010 - correction of errors in accounting and reporting

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The procedure is mandatory for all legal entities, except for credit institutions and budgetary institutions.

All errors are divided into major and minor.. The organization determines the nature of the error on its own. Errors that may affect economic decisions made by managers, founders, participants, investors, creditors, counterparties and other persons on the basis of financial statements are recognized as significant (clause 3).

REGULATION ON ACCOUNTING "CORRECTION OF ERRORS IN ACCOUNTING AND REPORTING" (PBU 22/2010)

I. General provisions

1. This Regulation establishes the rules for correcting errors and the procedure for disclosing information about errors in accounting and reporting of organizations that are legal entities under the legislation of the Russian Federation (with the exception of credit organizations and budgetary institutions) (hereinafter - organizations).

2. Incorrect reflection (non-reflection) of the facts of economic activity in the accounting and (or) financial statements of the organization (hereinafter referred to as the error) may be due, in particular:

incorrect application of the legislation of the Russian Federation on accounting and (or) regulatory legal acts on accounting;
incorrect application of the organization's accounting policies;
inaccuracies in calculations;
incorrect classification or assessment of the facts of economic activity;
incorrect use of information available at the date of signing the financial statements;
dishonest actions of officials of the organization.

Inaccuracies or omissions in the reflection of the facts of economic activity in the accounting and (or) financial statements of the organization, identified as a result of obtaining new information that was not available to the organization at the time of reflection (non-reflection) of such facts of economic activity, are not errors.

3. 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 nature of the relevant article (articles) of the financial statements.

II. The procedure for correcting errors in accounting

4. Identified errors and their consequences are subject to mandatory correction.

7. A significant error of the previous reporting year, revealed after the date of signing the financial statements for this year, but before the date of submission of such statements to shareholders of a joint-stock company, participants in a limited liability company, a state authority, a local government body or another body authorized to exercise the rights of the owner, etc., is corrected in the manner prescribed by paragraph 6 of these Regulations. If the specified financial statements were presented to any other users, then they must be replaced with statements in which the identified material error has been corrected (revised financial statements).

8. Significant error of the previous reporting year, revealed after the submission of financial statements for this year to shareholders of a joint-stock company, participants in a limited liability company, a state authority, a local government body or another body authorized to exercise the rights of the owner, etc., but before the date of approval of such reporting in accordance with the procedure established by the legislation of the Russian Federation, is corrected in the manner established by paragraph 6 of these Regulations. At the same time, the revised financial statements disclose information that these financial statements replace the originally presented financial statements, as well as the grounds for compiling the revised financial statements.

9. 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.

III. Disclosure of information in financial statements

15. 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.

16. If it is impossible to determine the impact of a significant error on one or more previous reporting periods presented in the financial statements, then the explanatory note to the annual financial statements discloses the reasons for this, and also provides a description of the method for reflecting the correction of a material error in the financial statements of the organization and indicates the period from which the corrections were made.

ON THE APPROVAL OF THE REGULATION ON ACCOUNTING "CORRECTION OF ERRORS IN ACCOUNTING AND REPORTING" (PBU 22/2010)

In order to improve the legal regulation in the field of accounting and financial reporting and in accordance with the Regulations on the Ministry of Finance of the Russian Federation, approved by Decree of the Government of the Russian Federation of June 30, 2004 N 329 (Collected Legislation of the Russian Federation, 2004, N 31, Art. 3258; N 49, item 4908; 2005, N 23, item 2270; N 52, item 5755; 2006, N 32, item 3569; N 47, item 4900; 2007, N 23, item 2801 ; N 45, item 5491; 2008, N 5, item 411; N 46, item 5337; 2009, N 3, item 378; N 6, item 738; N 8, item 973; N 11, 1312; N 26, item 3212; N 31, item 3954; 2010, N 5, item 531; N 9, item 967; N 11, item 1224), I order:

1. Approve the attached Accounting Regulation "Correction of errors in accounting and reporting" (PBU 22/2010).

2. Establish that this Order comes into force with the annual financial statements for 2010.

Deputy
Prime Minister
Russian Federation -
Minister of Finance
Russian Federation

A.L. KUDRIN

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