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

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The financial department approved a new PBU - Accounting Regulation "Correction of errors in accounting and reporting" (PBU 22/2010). This document will slightly change the procedure for correcting errors. In this article, N.N. Tomilo (Ministry of Finance of Russia).

Note:

What is considered an accounting error?

In order to improve legal regulation accounting and reporting by the Ministry of Finance of Russia approved the Regulation on accounting "Correction of errors in accounting and reporting" - PBU 22/2010 (order dated 06/28/2010 No. 63n, registered with the Ministry of Justice of Russia on 07/30/2010 No. 18008) and accounting forms of organizations (order dated 02.07.2010 No. 66n, registered with the Ministry of Justice of Russia 02.08.2010 No. 18023) *

Note:
* The accounting statements will change starting in 2011, commentary on the 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 (except credit institutions and budgetary institutions) from the annual financial statements for 2010.

PBU 22/2010 determines that an error is recognized as an incorrect reflection or non-reflection of facts economic activity in the accounting and (or) financial statements of the organization. The reasons for errors can be different: incorrect application of the legislation of the Russian Federation on accounting and (or) regulatory legal acts on accounting, incorrect application accounting policies 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 21.11.1996 No. 129-FZ "On Accounting", in order to ensure the reliability of the 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. Starting from 2007, the organization made a revaluation of the land plot belonging to it and reflected the revaluation results in the financial statements. However, in accordance with the Methodological Guidelines for the Accounting of Fixed Assets, approved by order of the Ministry of Finance of Russia dated 13.10.2003 No. 91n, land and objects of natural resources (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, revealed 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 RAS 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 their approval by the organization, new information about events after the reporting date is received disclosed in the financial statements presented to users, and (or) there have been (identified) events that may have a material impact on financial condition, traffic money or the results of the organization's activities, then the organization informs the persons to whom these financial statements were submitted. Such circumstances are not associated with errors in accounting and reporting. But if the organization does not inform the persons to whom the financial statements were submitted, then an error will arise related to the incorrect application of the regulatory legal act on accounting.

Errors are significant and insignificant

To select the order of correcting errors, the organization must subdivide them into material and non-material.

According to PBU 22/2010, an error is recognized as significant if it is separately or in combination with other errors for the same reporting period may influence the economic decisions of users, taken by them on the basis of financial statements compiled for this reporting period. The organization determines the materiality of the error independently, proceeding from both the size and the nature of the corresponding article (articles) of the financial statements.

Note that a similar definition in relation to the materiality of financial statements is given in the Instructions on the procedure for drawing up and submitting 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, in PBU 22/2010 there are no recommendations on the percentage (5%) benchmark as a sign of materiality. In practice, the benchmark often results in formal approach to the definition of materiality, and materiality is primarily qualitative characteristic information.

Error Correction Procedure

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

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

An error in 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 on the corresponding accounting accounts for December of the reporting year.

Example 2

An insignificant error of the previous reporting year, revealed after the date of signing the financial statements for this year, is corrected by entries on the corresponding accounting accounts in the month of the reporting year in which the error was detected. Profit or loss arising from the correction of this error are reflected in other income or expenses of the current reporting period.

Example 2

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 submitting such statements in the prescribed manner, is also corrected.

If the financial statements, in which a material error was found, were presented to any other (external) users, then they must be replaced with statements in which the identified material error has been corrected. Such reporting is called revised accounting reports... 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 identified after the approval of the financial statements in the prescribed manner, then the organization must:
- produce accounting records on the corresponding accounting accounts in the current reporting period in correspondence with account 84 "Retained earnings ( uncovered loss)";
- retrospectively recalculate the comparative indicators of the financial statements (assets, liabilities and capital) for the reporting periods reflected in the accounting statements of the organization for the current reporting year.

A retrospective recalculation of comparative financial statements is understood to mean such a correction of financial statements as if an error in the previous reporting period had never been committed.

A 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 error correction can be used if it is possible to establish a link between this error and a specific period, or it is possible to determine the impact of this error on a cumulative basis in relation to all previous reporting periods.

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 on the corresponding items of assets, liabilities and capital at the beginning of the earliest of the reporting periods presented are subject to adjustment.

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 organization should adjust the opening balance for the corresponding items of assets, liabilities and equity at the beginning of the earliest of the periods for which recalculation 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 the performance of which it is impossible to isolate information indicating the circumstances that existed at the date of the error, or it is necessary to use the information obtained after the date of approval of the financial statements for that prior reporting period.

When correcting a significant error of the previous reporting year, revealed 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.

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

the nature of the error;
the amount of the adjustment for each item 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 opening balance adjustment for 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 impossible, as well as describe the way of reflecting the correction of a material error 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 from 21.11.1996 No. 129-FZ "On accounting" amendments to cash and bank documents are not allowed. The rest of the primary accounting documents can be corrected only 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 of the amendments.

Errors in primary documents created manually (with the exception of cash and bank documents), in accordance with the Regulations on Documents and Document Flow in Accounting, approved by the Ministry of Finance of the USSR on July 29, 1983 No. 105, are corrected as follows: the incorrect text or amounts are crossed out and the corrected text is written over the crossed out text or amount. Strikethrough is performed with one stroke so that the corrected can be read. Bug fix in primary accounting document must be specified by the inscription "corrected", confirmed by the signature of the persons who signed the document with the date of the correction.

Other innovations

As mentioned 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 small business entities applying a simplified accounting reporting system.

When preparing this order, the changes in the 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" were taken into account. In addition, taking into account the practice of applying PBU 4/99 "Financial 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... A column is included in the balance sheet for clarification of the indicators contained in the reporting.

In the form of the Profit and Loss Statement appeared such 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 the 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, revealed before the end of this year, is corrected by entries on the corresponding accounting accounts in the month of the reporting year in which the error was detected.

6. An error in 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 corresponding accounting accounts for December of the reporting year (the year for which the annual financial statements are prepared).

7. A material 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, to members of a limited liability company, a public authority, a body local government or another body authorized to exercise the rights of the owner, etc., is corrected in the manner prescribed by paragraph of this Regulation. If the said financial statements were presented to any other users, then they must be replaced with statements in which the revealed material error has been corrected (revised financial statements).

8. A significant error of the previous reporting year, revealed after the submission of financial statements for this year to the shareholders of a joint-stock company, members of a limited liability company, a public authority, local government or other body authorized to exercise the rights of an owner, etc., but before the date of approval of such reporting in accordance with the legislation Russian Federation the order, is 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 initially presented financial statements, as well as the grounds for drawing up 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, revealed 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 offsetting account in the records is the account for accounting for retained earnings (uncovered loss);
2) by recalculating the comparative indicators of the financial statements for the reporting periods reflected in the accounting statements of the organization for the current reporting year, except for cases 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 as 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 an error of the previous reporting period had never been made (retrospective recalculation).

Retrospective restatement is performed 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 are entitled to use simplified accounting methods, including simplified accounting (financial) statements, can correct a significant error of the previous reporting year, revealed after the approval of the accounting statements for that year, in the manner prescribed by paragraph of this Regulation, without retrospective recalculation.

10. In case of correcting a significant error of the previous reporting year, revealed 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 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 equity at the beginning of the earliest of the reporting periods presented are subject to adjustment.

12. 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 organization should adjust the opening balance for the corresponding items of assets, liabilities and equity at the beginning of the earliest of the periods for which recalculation is possible.

13. The impact of a material error on the previous reporting period is impossible to determine if complex and (or) numerous calculations are required, during which it is impossible to select information indicating the circumstances that existed at the date of the error, or it is necessary to use information obtained after the date of approval of the financial statements for such a prior reporting period.

14. An error of the previous reporting year, which is not significant, revealed after the date of signing the financial statements for this year, is corrected by entries on the corresponding accounting accounts in the month of the reporting year in which the error was detected. Profit or loss arising from the correction of this error are reflected in other income or expenses of the current reporting period.

In the article by M.L. Pyatov and I.A. Smirnova (St. Petersburg State University) analyze the content of the new PBU 22/2010 "Correcting Errors in Accounting and Reporting", which, according to the authors, is another significant step towards the convergence of domestic regulations and IFRS.

According to the named 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 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 (except for credit organizations and budgetary institutions) (hereinafter - organizations)."

New PBU

A very important characteristic of the content of IFRS is that the provisions determined by them that form the modern accounting practice, first of all, relate not to the accounting procedure, but directly to the content of the statements. IFRS, therefore, consider accounting precisely as the practice of creating information about financial situation business entities. This information is necessary for the market and influences the decisions of the participants. economic relationsdetermining the real economic reality. This information, that is, the content of the financial statements, should be as adequate as possible to the economic reality. Such adequacy, among other things, is determined by the compliance of the data provided to 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 company is inevitably inherent in errors of both objective and subjective nature. And here it is important not only to find such errors, but also to timely eliminate their influence on the information that users of the reporting data receive. A separate IFRS is devoted to the issue of correcting errors in accounting and reporting. Now, the 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 Regulations "Correction of Errors in Accounting and Reporting" (PBU 22/2010), which was approved by order of the Ministry of Finance of the Russian Federation No. 63n dated June 28, 2010, and registered with the Ministry of Justice of the Russian Federation on July 30, 2010 under No. 18008.

According to the named 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 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 institutions and budgetary institutions) (hereinafter - organizations) ".

What is the error?

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

Consequently, 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 - an 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 accounting policy of the organization;
inaccuracies in calculations;
incorrect classification or assessment of the facts of economic activity;
misuse of information available at the date of signing the financial statements;
unscrupulous actions of the organization's officials ".

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, revealed as a result of obtaining new information that was not available to the organization at the time of reflection (non-reflection ) such facts of economic activity ".

What is considered a significant error?

By defining the concept of an accounting error, PBU 22/2010 introduces the concept of the 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 the 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, as reflected in its financial statements. So, for example, the user of reporting on the balance sheet estimates the firm's solvency. Determining its solvency, he compares the assessment reflected in the section "current assets" of the most liquid property with the value of the organization's short-term liabilities. And here, if, for example, the valuation of assets is unjustifiably overestimated (for example, the depreciation of product inventories is not reflected), the user can make an opinion about the level of the company's solvency that is not true. However, if the estimate of the reserves is overestimated by 100 rubles, and their total value reported in the financial statements is 1,000,000 rubles, such an error can hardly be regarded as material.

Attention should be paid to another extremely important provision of paragraph 3 of PBU 22/2010. The standard establishes that "the materiality of the error is determined by the organization independently, based on both the size and the nature of the corresponding item (s) of the financial statements." Determining the materiality of an error has thus become another potential opportunity for applying professional judgment of an accountant in practice. And it must be said that this option for implementing 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 user of the reporting.

How to fix the error?

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

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

The procedure for correcting an error in the following cases is determined separately:
- (1) significant and insignificant errors of the reporting year, revealed before the end of this year;
- (2) significant and insignificant errors of the reporting year, revealed after the end of this 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 the shareholders of a joint-stock company, members of a limited liability company, a public authority, local government body or other body authorized to exercise the rights owner, etc .;
- (4) significant errors of the previous reporting year, revealed after the submission of financial statements for this year to the shareholders of a joint-stock company, members of a limited liability company, a public authority, local government body or other body authorized to exercise the rights of an 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) significant errors of the previous reporting year, revealed after the approval of the financial statements for that year;
- (6) insignificant error of the previous reporting year, revealed after the date of signing the financial statements for that year.

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

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

Accordingly, either "reverse" postings are made in accounting, or a reverse entry is made, and then a proper entry is made to the accounts *.

Note:
It should be borne in mind here that although reverse postings are an 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, the reporting year error detected after the end of this year, but before the date of signing the financial statements for this year, is corrected by entries on the corresponding accounting accounts for December of the reporting year (the year for which the annual financial statements are prepared). Here the order is similar to the previous case, but all corrections are carried out in December.

According to paragraph 7 of PBU, if the error is recognized as significant, and at the same time it 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 reports to the shareholders of the joint-stock company, participants of the limited company responsibility, state 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 paragraph 6 of PBU.

Therefore, either "reverse" postings are made here, or reversal entries are made, and then the proper account entry is posted, and all corrections are posted in December. Separately, it is established that if the specified financial statements were submitted to any other users, then they must be replaced with statements in which the revealed material error has been corrected. PBU calls such revised statements "revised accounting statements".

According to paragraph 8 of PBU 22/2010, in the event that "a material error of the previous reporting year, revealed after the submission of financial statements for this year to the shareholders of a joint-stock company, members of a limited liability company, a public authority, local government or other 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, "it must also be corrected" in the manner prescribed by paragraph 6 of this Regulation. This means that in this case, either "reverse" postings are made, or a reverse entry is made and then the proper account entry is made, and all corrections are posted in December.

However, here the revised financial statements should already disclose information that these financial statements replace the initially presented financial statements, and the grounds for drawing up the revised financial statements should also be reported.

According to clause 9 of PBU 22/2010, if a material error of the previous reporting year was identified after the approval of the financial statements for that year, it is corrected:
"1) entries on the corresponding 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 accounting statements of the organization for the current reporting year, except for cases 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 as a cumulative total in relation to all previous reporting periods " ...

At the same time, according to PBU, "the recalculation of comparative indicators of financial statements is carried out by correcting indicators of financial statements, as if an error of the previous reporting period had never been made (retrospective restatement). in the accounting statements for the current reporting year in which the corresponding error was made. "

In other words, when correcting an error of this kind, an accountant in the current reporting period should 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 admitted.

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

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

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

Here it is important to pay attention to the fact that according to clause 10 of PBU 22/2010, "in case of correcting a significant error of the previous reporting year, revealed 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 financial statements ".

Regarding the procedure for retrospective correction of reporting upon detection of an error, 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 on the corresponding items of assets, liabilities and capital at the beginning of the earliest of presented reporting periods ". Paragraph 12 of PBU establishes that "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 organization shall adjust the opening balance for the corresponding items of assets, liabilities and equity at the beginning of the earliest of the periods for which available".

According to paragraph 13 of 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 indicating 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 a prior reporting period. "

And finally, clause 14 of PBU 22/2010 establishes that if the error of the previous reporting year revealed 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 revealed. In this case, profit or loss arising from the correction of this error is reflected in other income or expenses of the current reporting period.

How to disclose the fact that an error has been corrected?

A special section III of PBU 22/2010 is devoted to the issues of disclosing information about the correction accounting errors in reporting.

Clause 15 of 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 the previous reporting periods corrected in the reporting period:
"1) the nature of the error;
2) the amount of the adjustment for each item of the financial statements - for each previous reporting period to the extent that it is practically feasible;
3) the amount of the adjustment based on the data on basic and diluted earnings (loss) per share (if the organization is required to disclose information on earnings per share);
4) the amount of adjustment of the opening balance of the earliest of the reporting periods presented. "

At the same time, according to clause 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 correction of a material error in the accounting statements of the organization and the period from which such corrections were made.

Outcome

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 more detailed qualification of errors and in greater detail in the 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 a primary accounting document. Mandatory details primary accounting documents are:

title of the document;
date of preparation of the document;
the name of the economic entity that compiled 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 name of the position of the person (persons) who performed (committed) the transaction, operation and who is responsible (responsible) for the correctness of its registration, or the name of the position of the person (persons) responsible (responsible) for the correct 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 when the fact of economic life is committed, and if this is not possible - immediately after its completion.

Primary accounting documents make up on paper and (or) in the form of an electronic document signed electronic signature (part 5 of 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 methods for making 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 workflow. When developing such methods, you can focus on the current regulatory legal acts that regulate similar issues (for example, the Rules for filling out an invoice, approved by 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 primary documents can be corrected as follows

Due to unnecessary information in the invoice, tax authorities may not recognize it as a primary document. The risks are increased if the supplier has printed the invoice on the back of any other primary. For example, an invoice that relates to a deal with an outside company. They will say that the organization did not document the expenses, which means that it wrote off them 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 significant and insignificant.... The organization determines the nature of the error independently. Errors that can 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).

REGULATIONS 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 - 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 accounting policy of the organization;
inaccuracies in calculations;
incorrect classification or assessment of the facts of economic activity;
misuse of information available at the date of signing the financial statements;
unscrupulous 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, revealed as a result of obtaining new information that were 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 material if, individually or in combination with other errors for the same reporting period, it can affect the economic decisions of users, taken by them on the basis of the accounting statements compiled for this reporting period. The organization determines the materiality of the error independently, proceeding from both the size and the nature of the corresponding 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 material 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 the shareholders of the joint-stock company, members of a limited liability company, a government body, a local government body or other body authorized to exercise the rights of an owner, etc., is corrected in the manner prescribed by clause 6 of this Regulation. If the said financial statements were presented to any other users, then they must be replaced with statements in which the revealed material error has been corrected (revised financial statements).

8. A significant error of the previous reporting year, revealed after the submission of financial statements for this year to the shareholders of a joint-stock company, members of a limited liability company, a public authority, a local government body or another body authorized to exercise the rights of an owner, etc., but before the date of approval of such reporting in the manner prescribed by the legislation of the Russian Federation, is corrected in the manner prescribed 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 drawing up the revised financial statements.

9. A significant error of the previous reporting year, revealed 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 offsetting account in the records is the account for accounting for retained earnings (uncovered loss);

2) by recalculating the comparative indicators of the financial statements for the reporting periods reflected in the accounting statements of the organization for the current reporting year, except for cases 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 as a cumulative total in relation to all previous reporting periods.

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 select information indicating the circumstances that existed at the date of the error, or it is necessary to use information obtained after the date of approval of the financial statements for such a prior reporting period.

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 the previous reporting periods, corrected in the reporting period:

1) the nature of the error;

2) the amount of the adjustment for each item of the financial statements - for each previous reporting period to the extent that it is practically feasible;

3) the amount of the adjustment based on the data on basic and diluted earnings (loss) per share (if the organization is required to disclose information on earnings per share);

4) the amount of the adjustment of the opening balance of the earliest of the reporting periods presented.

16. 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, then the explanatory note to the annual financial statements discloses the reasons for this, and also describes the method for reflecting the correction of a material error in the organization's financial statements and indicates the period from which the corrections were made.

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

In order to improve 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, Art 4908; 2005, N 23, Art 2270; N 52, Art 5755; 2006, N 32, Art 3569; N 47, Art 4900; 2007, N 23, Art 2801 ; N 45, Art.5491; 2008, N 5, Art.411; N 46, Art.5337; 2009, N 3, Art.378; N 6, Art.738; N 8, Art.973; N 11, Art. 1312; N 26, Art. 3212; N 31, Art. 3954; 2010, N 5, Art. 531; N 9, Art. 967; N 11, Art. 1224), I order:

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

2. To establish that this Order comes into force with the annual accounting statements for 2010.

Deputy
Prime Minister
Russian Federation -
Minister of Finance
Russian Federation

A.L. KUDRIN

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