Common mistakes in accounting. Is it possible to adjust the balance Corrective financial statements
The obligation to submit financial statements tax office established for all organizations (clause 5 clause 1 article 23 of the Tax Code of the Russian Federation). And how and when can I submit the corrective balance sheet to the tax office? We will talk about this in our consultation.
We clarify the balance: right or duty
Compilation rules balance sheet are established not by tax, but by accounting legislation. Wherein current legislation in the region of accounting does not allow correction of financial statements already approved by the owner.
Therefore, further we proceed from the fact that the reporting by the owners has not yet been approved, because only in this case can corrective reporting be drawn up. Although not everything is so clear here either: whether or not to draw up an adjustment balance sheet depends on the nature of the detected error.
So, if a significant error is revealed in the balance sheet submitted to the tax inspectorate, then it is corrected for the corresponding accounting accounts in December of the reporting year (clause 8 PBU 22/2010). After correcting the error, a new financial statements called "revised". In a machine-readable form submitted to the tax office, you must fill in the "Adjustment number" field with the value "1- -". If the statements are not made on machine-readable forms, then it must be indicated in it that it is revised.
This revised reporting must be resubmitted to the tax office, as well as to all other authorities where it has already been submitted (to participants, to Rosstat, etc.).
At the same time, if the financial statements are not resubmitted, in case of a significant error, it is necessary to recalculate the comparative indicators in the statements. This means that in the current reporting, the indicators of the past period should be reflected as if the error had never been made. This is called retrospective restatement.
Recall that a material error is one that, individually or in combination with other errors, could affect economic decisions users accepted by them on the basis of financial statements (clause 3 PBU 22/2010). The procedure for determining the level of materiality, depending on the magnitude of the error and its nature, is established by the organization (for example, a distortion of 10% or more of any reporting item).
If the error is insignificant, then the financial statements submitted for tax purposes are not resubmitted, and the identified errors are corrected in the current reporting period.
Those organizations that have the right to apply, have the right, even with a significant error in reporting, not to retake it, but correct the error itself in the month of detection. They are not obliged to produce a retrospective recalculation of their financial statements.
Organization before approval annual accounts, but after its presentation in tax authority discovered an error in the income statement. The organization is ready to pay fines and penalties, to submit revised declarations. How can you change annual balance, what options are there for submitting an updated balance sheet and obtaining an IMTS mark?
After considering the issue, we came to the following conclusion:
The organization, if detected between the date of signing the financial statements and the date of its approval material error has the right to make changes to the annual financial statements, informing the users of the statements about it. The form of informing can be chosen by the organization independently. In our opinion, the organization has the right to submit written explanations to the tax authority on the reason for making corrections to the annual statements with the application of the adjusted forms of financial statements.
Rationale for the conclusion:
The procedure for correcting errors in accounting and reporting is regulated by:
Instructions on the procedure for compiling and submitting financial statements, approved by order of the Ministry of Finance of Russia dated July 22, 2003 N 67n (hereinafter referred to as the Instructions);
Regulations on accounting and financial reporting in Russian Federation, approved by order of the Ministry of Finance of Russia dated July 29, 1998 N 34n (hereinafter referred to as the Regulation).
According to paragraph 11 of the Instructions, the procedure for correcting an error of previous years depends on the fact that the reporting for this period was approved.
In particular, this paragraph determines that when an incorrect reflection is detected business transactions in the reporting year after its completion, but for which the annual financial statements have not been approved in accordance with the established procedure, corrections are made by entries in December of the year for which the annual financial statements are being prepared for approval and submission to the appropriate addresses.
Corrections to and financial statements for the last reporting year (after approval in the prescribed manner of annual financial statements) are not made.
In accordance with paragraph 39 of the Regulations, changes in the financial statements relating to previous reporting periods, made after its approval, are made in the statements drawn up for, in which distortions of its data were found.
We note that in accordance with paragraphs. 6 p. 2 art. 33 federal law dated 08.02.1998 N 14-FZ "On Limited Liability Companies" (hereinafter - Law N 14-FZ) approval annual reports and annual balance sheets are within the exclusive competence of the general meeting of participants in the company. According to Art. 34 Law N 14-FZ general meeting participants of the company, which approves the annual results of the company's activities, should be held no earlier than two months and no later than four months after the end of fiscal year, that is, not earlier than March 1 and not later than April 30. However, by virtue of the norm of paragraph 2 of Art. 15 of the Federal Law of November 21, 1996 N 129-FZ "On Accounting" (hereinafter - Law N 129-FZ), annual financial statements must be submitted to the tax authority within 90 days after the end of the year, i.e. no later than 30 March.
Therefore, the date of approval of the financial statements may come later date her signing.
Thus, the organization has the right to make corrections to the annual financial statements with an entry in December of the reporting year until its approval. In other words, if the organization initially submitted unapproved reports to the tax authority before March 30, then before the date of the meeting, the company has the right to amend the reports already submitted by recording December of the reporting year.
However, no legislative or normative document does not provide for the submission of adjusted financial statements to the tax authority. At the same time, by order of the Ministry of Finance of the Russian Federation of December 20, 2007 N 143n, PBU 7/98 "Events after the reporting date" (hereinafter - PBU 7/98) was supplemented by clause 12, which established the conditions under which it is necessary to inform users (one of which is and (see Letter No. 03-02-07/1-468 of the Russian Ministry of Finance dated 04.12.2007)) on changes in reporting.
In accordance with paragraph 12 of PBU 7/98, if in the period between the date of signing the financial statements and the date of its approval, any events occurred that could have a significant impact on financial condition, motion Money or the results of the organization's activities, the public needs to communicate these facts to the users to whom the reports have been presented. One of such facts, which can be recognized as an event after the reporting date, is a significant accounting error discovered, which leads to a distortion of the financial statements for the reporting period.
However, PBU 7/98 does not disclose the concept of "materiality". Therefore, the organization can independently recognize the indicator as material, based on the fact that the non-disclosure of any indicator may affect the decisions made by the owner, establishing and fixing in accounting policy organization "threshold" of materiality, that is, the share in the total amount of relevant data (for example, 5%).
We also note that PBU 7/98 also does not disclose the form in which the company should inform its users about the amendments. In this regard, in our opinion, the organization has the right to submit to the tax authority, as well as to other users of its financial statements, the adjusted annual financial statements and an explanatory note explaining the reason for the corrections.
For your information:
The Ministry of Finance of Russia has developed a draft of a new Accounting Regulation "Correction of Errors in Accounting and Reporting" (PBU 22/2009), which can be found on the website of the Ministry of Finance of the Russian Federation. This PBU establishes the rules for correcting errors and the procedure for disclosing information about material errors of the previous reporting period in the financial statements.
In particular, p.p. 8 and 9 of Draft PBU 22/2009 provides for re-submission of statements in corrected form to users if significant errors were found in it before the date of its approval with explanations of the reasons for the revision of previously submitted statements.
Prepared answer:
Legal Consulting Service Expert GARANT
Member of the Chamber of Tax Advisers Titova Elena
Checked answer:
Reviewer of the Legal Consulting Service GARANT
professional accountant Myagkova Svetlana
Company "Garant", Moscow
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 needs to 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 submitting an updated 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
- reflected constant tax asset due to the fact that the tax accounting of the current period recognized expenses (reduced income) relating to the previous year.
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 past 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. In this way, total debt for income tax before 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. - reflects 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 species activities (clause 4 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).
Mistake!
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, Alpha had a accounts payable in the amount of excessively written off expenses - 10,000 rubles.
Alpha's accounting policy stipulates 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. So, to reflect the discrepancies between accounting and tax accounting an accountant doesn't have to.
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 relevant 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.
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 financial results, 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 financial statements if it is 5% or more of total amount 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 term is incorrectly defined beneficial use OS. 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 stated 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 property status organizations. 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%.