The profit of the company is its distribution and use. Profit distribution. What functions make a profit

The mechanism of impact of finance for the economy is not in its production efficiency, but in distribution cash relations . The nature of the use of profit reflects the strategic objectives of the enterprise.

In essence, the distribution of profits should be considered in three directions (Fig. 25.4).

Profit is distributed between the state, the owners of the enterprise and the enterprise itself. The proportions of this distribution significantly affect the efficiency of the enterprise, both positive and negatively.

The relationship between enterprises and states on profits are based on the basis of income tax. Taxes have a significant impact on the formation of financial results of the economic activity of the enterprise and on the amount of net profit used by the enterprise on the goal of accumulation and consumption. The taxes paid by enterprises include federal taxes, taxes of constituent entities of the Russian Federation and local tax.

Tax accrual is made with their attribution to various sources. Part of the taxes are included in the price of production (goods, works, services). Such taxes include value added tax, excise taxes, export customs duties. Some taxes are included in the production costs of products, i.e. Cost costs or the amount of depreciable property increases on their sum. These are considerations for social insurance, transport tax, imported customs duties, government duties, land and forest taxes, other resource taxes. Other taxes relate to the financial results of the economic activities of enterprises, i.e. Reduce the balance sheet profit of the enterprise: income tax, property tax, advertising tax. Directly from the profits obtained as a result of financial and economic activities and the remaining enterprise after payment of income tax, enterprises pay some local taxes.

Since, as we see, the main source of payment of taxes is added value, then taxes directly affect the magnitude of the profit remaining at the disposal of the organization, i.e. net profit. Indirect taxes although not directly paid from the profits, but when the cost of the goods is achieved, the maximum of the purchasing opportunity is also beginning to reduce the share of the profit profits. The magnitude of the tax burden is inversely proportional to the investment opportunities of the real sector of the economy. The task of public administration is to preserve the stability of the growth of budget revenues, contribute to economic growth in enterprises. It is natural to assume that there must be a limiter for the tax burden on the economy of taxpayers enterprises. Otherwise, incentives are lost to improving the efficiency of the enterprise and profit.

The profit remained after payment of taxes is distributed among the owners (shareholders and founders) and the enterprise himself.

This distribution depends on many factors. During the period of technical re-equipment and modernization of production, the development of new types of products and new technologies, the company is extremely in need of financial resources, and the owners must provide them in the first place. This does not mean that they should refuse their expectations and do not receive income to invested capital. But it must be pending expectations, and the owners will be able to receive their dividends after the production of production at the design capacity, when the company will start making a profit in sufficient. Dividends for the period of waiting should be at least the interest rate on the bank deposit for the same period, but less rates for credit.

In the conditions of market economy, the state does not interfere in the distribution process of the profit remaining at the disposal of the enterprise after paying taxes. Nevertheless, through the provision of tax benefits, it stimulates the direction of profit on capital investments and housing and the construction of housing, for charitable goals, financing environmental measures, the costs of maintaining objects and institutions of the social sphere, for research and development work. The minimum amount of reserve capital for joint-stock companies is established, the procedure for creating a reserve for doubtful debts is regulated and under the impairment of securities.

The distribution of profits remaining at the disposal of the enterprise is regulated by the internal documents of the enterprise, as a rule, in accounting policies. Some aspects of the distribution process are recorded in the company's charter. In accordance with the charter or decision of the administrative authority, funds are created in the enterprise: accumulation, consumption, social sphere. If the funds are not created, then in order to ensure planned consumption of funds, estimates of the production of production, social needs of the labor collective, and material promotion of workers and charitable goals are drawn up. These costs are funded from the profits remaining at the disposal of the enterprise.

To expenses, associated with the development of production and funded from profit include expenses for research, design, development and technological work, the development and development of new products and technological processes, to improve the technology and organization of production, the modernization of equipment, technical re-equipment and reconstruction of the existing production, expansion of the enterprise and the new construction of objects, Conducting environmental activities. The same group of expenses include expenses on the repayment of long-term loans of banks and interest on them. The accumulated profit of the enterprise can be invested by them in the authorized capital of other enterprises, long-term and short-term financial investments, transfer to higher organizations, unions, concerns, associations, etc. These areas are also considered to be used to develop.

Distribution of profits for social needs Includes the costs of exploitation of social and household facilities located on the balance sheet of the enterprise, financing the construction of non-production facilities, conducting health and cultural events, etc.

TO costs for material promotion The payment of premiums for labor achievements, the cost of providing material assistance, one-time benefits to veterans, retirees, compensation for the cost of food costs in the canteens, etc.

All profits remaining at the disposal of the enterprise is divided into profits that increase the value of the property, i.e. Participating in the accumulation process, and profit guide for consumption that does not increase the value of the property. If the profit is not spent on consumption, it remains at the enterprise as the retained earnings of past years and increases the size of the company's own capital. The presence of retained earnings increases the financial stability of the enterprise, indicates the availability of the source for subsequent development.

The distribution object is the Balance Profit of the Enterprise. Under its distribution it is understood as the direction of profit in the budget and on the use of the use in the enterprise. The legislative distribution of profits is regulated in the part of its part, which enters the budgets of different levels in the form of taxes and other mandatory payments. Determination of the use of profits of profits, remaining at the disposal of the enterprise, the structure of articles of its use is within the competence of the enterprise.
Balance profit - a set of profits from sales, works and services, arrived from other sales and income from non-engineering operations.
Net profit is a profit that remains at the disposal of the enterprise after paying the relevant taxes, the source of payment of which is profit. This residue allows us to solve the tasks of the enterprise and is used by it without any regulation.
Based on expediency, enterprises can create or not to create funds and reserves used as additional sources of cost financing not included in the cost of production.
If the company does not create funds, then these costs will be reflected as the use of profits as they occur.
Although there is no rigid regulation of profit of profit, allocates three main directions of its use:
1. Creating special funds and reserves:
* accumulation fund;
* consumption fund;
* Reserve or insurance funds.
The accumulation fund - the main source of its formation is profit, but other sources can be used:
- free funds received;
- budget funds (any level);
- Centralized funds of higher organizations and voluntary associations (the first is characteristic of state-owned enterprises; the reason for enterprises' associations is the protection of its own market segment).
The main directions of use of the accumulation fund:
- acquisition and construction of fixed assets (both manufacturing and non-productive purposes);
- financing of research and development work;
- training and retraining of personnel;
- Payment of interest on loans in excess of the amount established by law.
The consumption fund is a source of means of the enterprise for social development, material incentives for working. Payments are taken into account in monetary and material form, dividends, interest paid on the shares of the labor collective, various social benefits, financial assistance paid in the enterprise.
Cooperative payments - part of the income of the consumer society, distributed between shareholders in proportion to their participation in the economic activities of the consumer society or their share contributions, unless otherwise provided by the Charter of the Consumer Society.
The reserve fund, as a rule, is formed by the company in size 10-50% (with appropriate forms of ownership Creation of a reserve, an example is joint-stock companies). The need to create a reserve is that in the market economy, enterprises are subjects of risk activities, therefore a reserve is created for the end of the enterprise's work for covering potential payables. In addition to profit, the company can enroll in the fund of emission income - the difference between the nominal and selling stock price.
reserve fund - a fund that is intended to cover damages from emergency circumstances and the procedure for the formation and use of which is determined by the charter of a consumer society or the Union;
Profit distribution reflects the process of forming funds and reserves of the enterprise to finance the needs of the production and development of the social sphere.
Principles of profit distribution can be concerned, the magnitude of the company's profit remaining at its disposal after paying taxes:
it should ensure the growth of production and improving the results of production and economic and financial activities;
she primarily goes to the accumulation, ensuring its further development, and only in the rest of the consumption;
it is possible to reduce income tax by applying benefits associated with costs from income to distribution.
The distribution is subject to profit remaining at the disposal of the enterprise after paying all taxes and other mandatory payments.
Profit remaining at the disposal of the enterprise is a multi-purpose source of financing its needs. All profits remaining at the disposal of the enterprise is divided into two fundamentally different parts: "on the accumulation" and "for consumption". Using the first testifies to an increase in the property of the enterprise and the accumulation process. The use of the second - does not lead to the formation of a new property and characterizes the share of profits used for consumption. At the same time, it is not necessary for all income to the accumulation, to use completely. The residue of the profit not used to increase the property has an important reserve value and can be used in subsequent years to cover possible losses, financing various costs. The proportions of the distribution of profits on accumulation and consumption determine the prospects for the development of the enterprise.
Officially, the state does not establish any regulations of the distribution of profits, but after the procedure for providing tax benefits, it stimulates the direction of profit on capital investments of industrial and non-productive nature, for charitable purposes, financing environmental activities, expenditures on the maintenance of objects and institutions of the social sphere, etc. Legally limited The cost of expenses included in the cost.
Profit distribution is the main direction of intra-profit financial planning. The procedure for the distribution and use of profit at the enterprise is fixed in the company's charter and is determined by the provision that is developed by the enterprise economic service and is approved by the company's managers. In accordance with the Charter of the enterprise, there may be estimates of expenses funded from profits, or to form special-purpose funds as funds for the accumulation funds (Production Development Fund or Fund for Industrial and Technological Development, Social Development Fund) and consumer funds (material promotion fund). Thus, the estimation of expenses funded from profit includes the cost of development of production, social needs of the labor collective, on the material promotion of workers and charitable goals.
The costs associated with the development of production include expenses for research, design, design and technological work, financing the development and development of new types of products and technological processes, the costs of improving the technology and organization of production, the modernization of equipment, the costs associated with technical re-equipment and reconstruction of existing production, expansion of enterprises. The same expense group includes expenses on the repayment of long-term loans of banks and interest on them. It is also planned to carry out environmental costs and other contributions of enterprises from incurred as deposits of founders to create the authorized capital of other enterprises, funds transferred to alliances, associations, concerns, which include the enterprise, are also considered to be used to develop.
The distribution of profits for social needs includes the cost of exploitation of social and household facilities located on the balance sheet of the enterprise, financing the construction of non-production facilities, the organization and development of subsidiary agriculture, holding health, cultural events.
The costs of material encouragement include one-time promotion for the implementation of particularly important production tasks, the payment of awards for the creation, development and implementation of new equipment, the cost of providing material assistance to workers and employees, one-time benefits of labor veterans, leaving for retirement, payments to pensions, compensation to employees The cost of the cost of food in the canteens, the buffets of the enterprise due to the increase in prices, etc.
The indicator of "retained earnings" in a broad sense indicates the financial stability of the enterprise, the availability of the source for subsequent development.
Revenues of consumer society and their distribution
The distribution and use of profits in consumer cooperatives has its own characteristics. The use of consumer society, received from its entrepreneurial activity, after making mandatory payments in accordance with the legislation of the Russian Federation, are sent to the funds of the consumer society, for settlements with the lender and (or) cooperative payments.
The size of cooperative payments, determined by the general meeting of the consumer society, should not exceed 20 percent of the income of consumer society.

Profit distribution, relationship with budget and banks.
After calculating and paying taxes, the enterprise's disposal remains a profit, which is used for their own needs, its amount is reflected in the financial plan.
The main directions of the use of profits remaining at the disposal of the enterprise:
Niocarian
Capital costs related to the development of production
Technical re-equipment and reconstruction
Updating the current and purchase of new equipment
Financing the growth of need for working capital
Payment% on loans
Securities Release Costs
Investment activities in the formation of the authorized capital of other enterprises, if the issue of securities is not supposed
Payment of taxes established in a legitimate manner, the source of payment of which is the profit remaining at the disposal of the enterprise
The content of objects of the socio-cultural sphere
Own housing construction and construction of other non-residential facilities.
In carrying out its activities, consumer society has the right to form the following funds:
indivisible;
development of consumer cooperation;
spare;
other funds in accordance with the Charter of the Consumer Society.

The initial point of financial planning is profitability. Must identify those inhuman reserves that were not used in the current period.
Next Stage - Profit planning and other financial results, taking into account the conclusions of economic analysis.

The main requirement that is presented to the profit distribution system remaining at the enterprise is that it should provide financial resources the need for expanded reproduction based on the establishment of an optimal relationship between funds sent to consumption and accumulation.

In the distribution of profits, the determination of the main directions of its use is primarily taken into account the state of the competitive environment, which can dictate the need to significantly expand and update the production potential of the enterprise. In accordance with this, the scope of deductions from profits in the industrial development funds, the resources of which are intended to finance capital investments, increasing working capital, ensuring research activities, the introduction of new technologies, transition to progressive working methods, etc.

Figure 1.1 - The main directions of the distribution of profits

An important aspect of the distribution of profits is to determine the proportion of the division of profits on the capitalized and consumed of the parts, which is established in accordance with the constituent documents, the interests of the founders, and also determined depending on the business development strategy.

In accordance with the charter of the enterprise, there may be estimates of expenses funded from profits, or to form special purpose funds. The estimates of the cost-financed costs include the development costs of production, social needs of the labor collective, on material promotion of workers and charitable goals. The costs associated with the development of production include expenses:

on research, project, design and technological work;

financing the development and development of new types of products and technological processes;

costs of improving technology and organization of production;

equipment upgrades;

costs associated with technical re-equipment and reconstruction of existing production, expansion of enterprises.

The same expense group includes expenses on the repayment of long-term loans of banks and interest on them. There are also planned costs of environmental protection measures.

The distribution of profits on social needs includes costs:

on the operation of social and household facilities located on the balance sheet of the enterprise;

financing the construction of non-production facilities;

organizations and development of subsidiary farms;

holding wellness, cultural events.

The costs of material encouragement include one-time promotion for the implementation of particularly important production tasks, the payment of awards for the creation, development and implementation of new equipment, the cost of providing material assistance to workers and employees, one-time benefits of labor veterans, leaving for retirement, payments to pensions, compensation to employees Appreciation cost of nutrition in dining rooms, enterprise buffets due to price increase.

All profits remaining at the disposal of the enterprise is divided into two parts. The first increases the property of the enterprise and participates in the accumulation process. The second characterizes the share of profits used for consumption. At the same time, it is not necessary for all income to the accumulation, to use completely. The residue of the profit not used to increase the property has an important reserve value and may in subsequent years aims to cover possible losses, financing various costs.

Retained earnings in a broad sense as a profit used for accumulation and retained earnings of past years, indicate the financial sustainability of the enterprise, the availability of the source for subsequent development.

For each organizational and legal form of the enterprise, the appropriate mechanism for the distribution of profits remaining at the disposal of the enterprise, based on the features of the internal device and regulating enterprises of the relevant forms of ownership.

At any enterprise, the distribution object is the net profit of the enterprise. Under this distribution refers to the direction of profit in the budget and on the use of the use in the enterprise. The legislative distribution of profits is regulated in the part of its part, which enters the budgets of various levels in the form of taxes and other mandatory payments. The definition of the use of the profits of the profit remaining at the disposal of the enterprise, the structure of the formed funds, the process of their use is within the competence of the enterprise itself.

The state does not establish any profit distribution standards, but after the procedure for the provision of tax benefits, it stimulates the direction of profit on innovation, capital investments of industrial and non-productive nature, for charitable goals, financing environmental activities, expenditures on the maintenance of objects and non-production facilities, etc. Legislation restricts the amount of the reserve fund of the enterprise, regulates the procedure for the formation of a reserve for doubtful debts.

Net profit can be used for the payment of dividends, the formation of reserve capital, an increase in the authorized capital, repayment of losses of past years and other purposes. Contributions of enterprises from profits as deposits of founders in the creation of the authorized capital of other enterprises, funds transferred to alliances, associations, concerns, which include an enterprise, are also considered to use profits on development.

The procedure for the distribution and use of the company's profits is fixed in its constituent documents and is determined by the provision that is developed by the relevant units of economic and financial services and is approved by the governing body of the enterprise.

In the first chapter of the course work, the theoretical foundations of profits are considered: essence in economic terms, the formation of enterprise profits, as well as its distribution and use. In a market economy, profit is the direct goal of production. Profit creates certain guarantees for the further existence and development of the enterprise. Profit growth creates the financial basis for self-financing the activities of the enterprise, exercising expanded reproduction. At the expense of it, part of obligations are fulfilled to the budget, banks and other enterprises. Profit becomes the most important to assess the manufacturing and financial activities of the enterprise. It characterizes the estimates of its business activity and financial well-being. The company has the right to decide which goals and in what sizes to send profits left after paying taxes to the budget and other mandatory payments and deductions.

S. Nikitin
Consulting group Rune

According to the accounting accounting accounts of the financial and economic activities of organizations and instructions for its application, approved by the Order of the Ministry of Finance of Russia from 10/31/2000 No. 94n, the indicators "Net profit" and "retained earnings" are formed in different accounting accounts.

The indicator of net profit is formed on the balance sheet account 99 "Profit and losses" by the end of the reporting year and is the final financial result of the organization's activities during the reporting period.

The ability to write off any costs at the expense of net profit, except those that are defined by regulatory acts on accounting, is not provided. Thus, in addition to profit and loss from ordinary activities and other income and expenses for the debit of account 99, only expenses incurred by the organization due to emergency circumstances (natural disaster, fire, accident, flood, etc.) accrued Payments for tax profit organizations, as well as the amount of tax sanctions due.

The amount of net profit of the reporting year is written off by the final turnover of December with the record:

Debit 99 "Profits and losses", Credit 84 "Retained earnings (uncovered loss)".

Balance account 84 is intended to summarize information about the presence and movement of the amount of retained earnings (uncovered loss).

In accordance with the letter of the Ministry of Finance of Russia dated February 23, 2002 No. 04-02-06 / 3/60, the retained earlier profits of past years is the balance of the profit remaining at the disposal of the organization's results for the last reporting year and decisions taken to use it (direction In reserves, formed in accordance with legislation or constituent documents, to cover losses on the payment of dividends, etc.). Based on this, net income is formed on the organization's balance sheet only by the end of the current (reporting) year, i.e. We are talking about the reflection of the organization's operations in accounting accounts for the current period.

Analytical accounting on account 84 should be organized in such a way as to ensure the formation of information on the use of funds.

According to the current legislation, the net profit of the organization may be aimed at deducting in reserve capital, to pay dividends, the capitalization of the organization, as well as on other payments to the decision of the shareholders (founders) of the organization.

Calculations to Reserve Capital

Reserve capital can be created both in joint-stock societies and in limited liability companies. In accordance with Art. 35 of the Federal Law of December 26, 1995 No. 208-FZ (as amended by 24.05.99) "On Joint-Stock Companies" (hereinafter - Law No. 208-ФЗ) Reserve Fund of the Company is intended to cover its losses; repayment of bonds of society; Repurchase of the Company's shares in the absence of other means. The reserve fund cannot be used for other purposes.

Joint stock companies form a reserve capital in the amount provided by the Company's charter, but not less than 5% of the authorized capital.

The reserve capital of the Company is formed through the obligatory annual deductions until it achieves the size established by the Company's charter. The amount of annual deductions is provided for by the Company's charter, but there can be no less than 5% of net profit until the size established by the Company's Charter is achieved.

Article 30 of the Federal Law of 8.02.98 No. 14-FZ "On Limited Liability Societies" (hereinafter - Law No. 14-FZ) Limited Liability Company is granted the right to create a reserve fund and other funds in the manner and sizes provided for by the Company's Charter . The procedure for the use of reserve fund funds is determined by the highest management body of the Company.

In limited liability companies, the creation of a reserve fund, as opposed to joint-stock companies, is voluntary. Thus, when approving the Charter, the founders express their consent to the direction of the profits on the formation of reserve capital. Additional decision on this matter is not required. Therefore, it can be concluded that the direction of profit on the formation of a reserve fund is a mandatory procedure that does not require the decision of the owners.

According to the accounting accounts plan to the reserve capital of profits are reflected on the loan of account 82 "Reserve Capital" in correspondence with the debit of account 84.

Payment of dividends

In accordance with paragraph 1 of Art. 43 of the Tax Code of the Russian Federation Dividend recognizes any income received by the shareholder (participant) from the organization during the distribution of profits remaining after taxation (including in the form of interest on privileged shares), according to the shareholder (participants), proportion to shareholders (participants) In the authorized (folding) capital of this organization.

According to pp 11 p. 1 Art. 48 of Law No. 208-FZ (as amended from 10/31/02 No. 134-ФЗ) The distribution of profits (including the payment (announcement) of dividends) refers to the competence of the General Meeting of Shareholders, and in accordance with paragraph 1 of Art. 47 of this Law, issues provided for by the specified subparagraph should be solved at the annual meeting of shareholders, which is carried out within the time limits established by the Company's Charter, but not earlier than two months and no later than six months after the end of the fiscal year.

The joint stock company has the right to make decisions not only about the payment of dividends on the basis of the fiscal year, but also on the payment of interim dividends based on the results of the first quarter, half of the year, nine months of the fiscal year (paragraph 1 of Article 42 of Law No. 208-FZ). This decision can be made within three months after the end of the corresponding period.

Based on Art. 33 of Law No. 14-FZ Approval of annual reports and annual balance sheets, as well as the decision on the distribution of the Company's net profit between the Company's participants, refers to the competence of the General Meeting of the Company's participants. According to Art. 28 of Law No. 14-FZ The Company is entitled quarterly, once every six months or a year to decide on the distribution of its net profit between the participants of the Company. The decision to determine the part of the profits distributed among the participants of the Company is made by their general meeting, which should be conducted no earlier than two months and no later than four months after the end of the fiscal year (Article 34 of Law No. 14-FZ).

Thus, the legislation establishes a harsh duration of the distribution of net profit, including the accrual of dividends. The use of unallocated profits on the payment of dividends is legitimate if the appropriate decision is made by the General Meeting of Shareholders (participants) in the time established by law.

The retained earnings of past years cannot be directed to the payment of dividends.

Considering that the source of dividend payment is the Company's profit after taxation (net profit), which is determined according to the financial statements, dividends in the joint-stock company can be accrued and paid only at the expense of the net profit of the joint-stock company's reporting year. This point of view is reflected in the letter of the Ministry of Finance of Russia dated February 23, 2002 No. 04-02-06 / 3/60.

Such an order of distribution of amounts of net profit on the payment of dividends is confirmed by arbitration practice. In paragraph 15 of the section "Disputes associated with the payment of dividends" of the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation of November 18, 2003, No. 19 "On some issues of applying the Federal Law" On Joint-Stock Companies "it explains that the decision to pay (declard) dividends , including the amount of dividend and the form of his payment, is made by the General Meeting of Shareholders for Shares of Each category (type), including on privileged, in accordance with the recommendations of the Board of Directors (Supervisory Board) of the Company. In the absence of a decision on the announcement of dividends, the Company is not entitled to pay, and shareholders require their payments.

Dividends, the decision to pay (by the announcement) of which adopted by the General Meeting of Shareholders, are subject to payment on time defined by the Company's Charter or decision of the General Meeting of Shareholders. If the charter is not determined by the charter, it should not exceed 60 days, including when it is established by the decision of the General Assembly (paragraph 16 of the Resolution of the Plenum of the Supreme Court of the Russian Federation of November 18, 2003 No. 19).

The direction of the profits of the reporting year on the payment of revenues to the founders (participants) of the joint stock company on the basis of approval of annual accounting reporting is reflected in the debit of account 84 and the credit of account 70 "Calculations with wage personnel" or 75 "Calculations with the founders".

Despite the fact that according to accounting accounts plan, in the payment of interim dividends, an account was also provided for the debit of account 84 and the loan of accounts 75 and 70, in our opinion, such a record is incorrect and in the current year should not be applied.

According to the Tax Code of the Russian Federation, Dividend recognizes the amounts of the distributed profits regardless of whether profits are distributed at the end of the year or before it is completed. The only requirement is to be net profit, i.e. Profit remaining after taxation.

However, as already mentioned, after making a decision by the General Meeting of Shareholders (founders) on the approval of annual reporting and the distribution of profits and until the end of this year, the organization does not affect the organization, and retained earnings, i.e. That that is not subject to distribution. And in accordance with paragraph 2 of Art. 42 of Law No. 208-ФЗ The source of dividend payment is the profit of the Company after taxation (Net profit of the Company). Dividends on preferred shares of certain types can also be paid at the expense of special funds for these purposes. The Company's net profit was determined according to the Company's financial statements and until the end of the fiscal year, accountability is reflected by comparing credit and debit revolutions on account 99.

In our opinion, the accrual of intermediate dividends during the year it is advisable to reflect the record: Debit 99, Credit 75. In the income statement, accrued intermediate dividends should be reflected with the minus sign (in parentheses) after the "Current Income Tax" line.

Taking into account the requirements of diligence in accounting, i.e. Great readiness for recognition in accounting accounting and obligations than possible income and assets, not allowing the creation of hidden reserves (paragraph 7 of the accounting policy "Accounting Policy of the Organization" (PBU 1/98), approved by the Order of the Ministry of Finance of Russia from 9.12.98 № 60N), making decisions on the payment of dividends with greater periodicity than once a year, can lead to negative tax consequences. For example, a situation in which an organization that paid dividends based on the results of the first quarter of 2004 from the profits formed during this period may receive a loss following the results of this year.

Thus, only those organizations that have a sustainable financial position can also be allowed to make a decision on the distribution of profits in the form of intermediate dividends and are confident in increasing profits by the end of the year.

It should be borne in mind that from January 1, 2005, the incomes of taxpayers - individuals and legal entities from equity participation in the activities of organizations obtained in the form of dividends are taxed at a rate of 9%, and not 6%, as before. This amendment is made in paragraph 4 of Art. 224 and p.p. 1 p. 3 Art. 284 of the Tax Code of the Russian Federation by federal law of 29.07.04. No. 95-FZ. Thus, when paying dividends in 2005 in 2004, such income will be taxed at a rate of 9%.

Other payments due to profits

For accounting purposes, the funds listed in connection with the implementation of charitable activities, sports events, recreation, cultural and educational activities and other similar activities in accordance with paragraph 12 of the Regulations on accounting "Organization 'Expenses" (PBU 10/99) approved by the Order of the Ministry of Finance Russia dated July 6, 199.99 No. 33N, are non-dealerization costs and are reflected in the debit of account 91 "Other income and expenses". However, such payments can be carried out and at the expense of retained earnings, as the decision on the use of retained earnings in a joint-stock company or a limited liability company is within the competence of the General Meeting of Shareholders (participants). Therefore, if the protocol of the General Meeting of Shareholders (Participants) is determined that some expenses should be carried out by profits, in accounting, this expense should be reflected in the debit of account 84.

Thus, when closing the (Reformation) of the balance after the adoption of an appropriate solution to the shareholders (participants) of the Company should be reflected in the direction of profit in reserve capital, the needs of consumption and the payment of dividends to the founders. The distribution of profits in the consumption and accumulation funds is reflected in the internal records in account 84, and the unused portion of net profit is allocated in analytical records.

Example. According to the results of 2003, the joint stock company received profits in the amount of 1,200,000 rubles. The general meeting of shareholders on March 25, 2004 approved the results of the Company's activities for 2003, decided to pay dividends in the amount of 1,000,000 rubles. and about the direction of 200,000 rubles. On the organization of summer holidays of children. In accounting, these operations were reflected as follows:
final records of December 2003:
Debit 99, Credit 84, subaccount "Retained earnings of this year" - 1,200,000 rubles. - reflected retained earnings;
Debit 84, subaccount "Retained earnings", Credit 75, subaccount "Calculations for income payment" - 1,000,000 rubles. - Dividends are accrued;
Debit 84, subaccount "Retained earnings", Credit 84, subaccount "Profit to use according to the approved estimate" - 200,000 rubles. - reserved the amount of profit 2003 for use in 2004 according to the approved estimate for the organization of summer holidays.
During 2004, the debit of account 84, the subaccount "Profit to use according to the approved estimate" in correspondence with accounting accounts (other accounts, such as consideration of materials) reflected the spending of reserved amounts of profit for years of children. Thus, with its actual use of the balance on account 84, the subaccount "Profit to use according to the approved estimate" will not.
Similarly reflects the use of profit for the payment of prizes to employees of the organization, providing material assistance, for the payment of cultural and sports events, etc. The underlying condition - should be decided by the organization's owners about the use of net profit for these purposes.

Retained earnings (uncovered loss) characterizes the net profit accumulated during the existence of the organization remaining at its disposal (after payment of dividends, creating a reserve fund, etc.). This part of the profit is no longer consumed, and records for the debit of account 84 are not produced. Therefore, this part of the profit is a source of funding tools for capital investments of industrial and non-productive purposes.

In analytical accounting, the funds of retained earnings used as financial support for the development of the organization and other similar activities for the acquisition (creation) of the new property, as well as not yet used, can be divided.

In order to monitor the status and use of funds to finance capital investments for analytical accounting on account 84, it is recommended to open two subaccounts: "Retained earded earnings", "retained earnings used". At the subaccount "Retained earded earnings" is sent by retained earnings of the organization and recorded:

Debit 99-9, Credit 84, subaccount "Retained earnings formed".

As the fixed assets and the implementation of other capital investments are purchased simultaneously with the account on the debit of account 01 and the credit of the account 08, an internal entry is applied:

Debit 84, subaccount "Retained earnings formed", Credit 84, subaccount "Retained earnings used".

If the balance of the subaccount "Retained earnings formed" will become debit, this suggests that the organization allows to immobilize its own and attracted funds, i.e. Uses the current resources for the acquisition of fixed assets.

Thus, if the decision on the distribution of profits was adopted at the annual general meeting of shareholders (participants), which was conducted in the period established by law, in accounting, it is possible to reflect the appropriate use of profit on the debit of account 84.

The procedure for submitting accounting reporting

The approval of annual financial statements is competing the annual General Meeting of Shareholders (the next general meeting of participants). Following the approval of annual financial statements, the organization should reflect the records of December, including the income payments to the founders (participants) on the debit of account 84 in correspondence with a score of 75 or 70. Thus, in the annual accounting balance in the section "Capital and Reserves" "Retained earnings (uncovered loss)" will not correspond to the amount of net profit received during the reporting year.

In paragraph 2 of Art. 15 of the Federal Law of 21.11.96. No. 129-FZ "On Accounting" (with subsequent changes and additions) established that annual financial statements should be submitted to authorized bodies within 90 days at the end of the year. Thus, it turns out that the reporting should be approved by the General Meeting no later than 90 days at the end of the year.

However, in accordance with paragraph 1 of Art. 47 of the Law No. 208-FZ Annual General Meeting of Shareholders is carried out within the deadlines established by the Company's Charter, but not earlier than two months and no later than six months after the end of the fiscal year; The next general meeting of participants of the LLC is carried out under Art. 34 of Law No. 14-FZ no earlier than two months and no later than four months after the end of the fiscal year. Therefore, a situation is possible, in which the accounting statements are approved in compliance with the deadlines established by these laws, and the representation of statements - with a violation of the term provided for by paragraph 2 of Art. 15 of the Law "On Accounting". At the same time, according to paragraph 2 of Art. 15 of this law, the submitted annual accounting reporting should be approved in the manner established by the constituent documents of the Organization.

Of course, the general meeting would be optimal before the expiration of 90 days at the end of the year. However, if the organization has not yet been able to approve the reporting during this period, it has the right to pass it out and without taking into account the consideration of the results of activities for the reporting year. It is this position that the Ministry of Finance of Russia adheres to the order of which dated December 31, 2004 No. 135n "On Amendments to the indication of the procedure for the preparation and submission of accounting reporting (an order of February 22, 2003 No. 67N)" from the instructions, paragraph 14 was excluded, Where it was said about the submission of reporting, taking into account the mandatory consideration of the organization's activities for the reporting year.

The legislative distribution of profits is regulated in that part of it, which enters the budgets of different levels in the form of taxes and other mandatory payments. Determination of the directions of profits of the profit remaining at the disposal of the enterprise, the structure of articles of its use is within the competence of the enterprise, including the Charter and the Constituent Treaty.

Principles of profit distribution Formulated by economists as follows:

♦ The profit received by the company as a result of production and economic and financial activities is distributed between the state and the enterprise as a business entity;

♦ Profit for the state enters the relevant budget articles in the form of taxes and fees, whose rates cannot be arbitrarily changed. The composition and tax rates, the procedure for their calculus and contributions to the budget are established by law;

♦ The magnitude of the company's profit remaining at his disposal after paying taxes should not reduce its interest in the growth of production and improving the results of production and financial activities;

♦ The profit remaining at the disposal of the enterprise is primarily sent to the accumulation, ensuring its further development, and only in the rest of the consumption.

Profit is distributed between the state, the owners of the enterprise and the company himself. The proportions of this distribution significantly affect the efficiency of the enterprise, both positive and negatively.

Relations of enterprises and the state about profits are based on profit taxation.

Significant in Russian legislation is that the income tax is subject not to the profit, which reflects the results of financial and economic activities and is shown in the accounting reporting. Differences in the amount of taxable profit and profits reflected in the income statement are generated by differences in the methodology for calculating the financial result in regulatory documents on accounting and in the Tax Code. In addition, in the Tax Code once again an attempt was made to give a list of all expenses that reduce income for tax purposes. Since this goal is impossible to achieve, part of the costs submitted from income and generated balance sheet earnings in accounting are not considered expenses that reduce income for tax purposes. Nevertheless, for many enterprises, accounting profit turned out to be more taxable, which leads to a decrease in budget revenues. It would be rational if the differences in the methodology for calculating accounting and taxable profits were eliminated

Tax system - A very important element of the market economy and, not least, the results of economic transformations depend on it. Taxes serve as the main form of receiving income by the state. In addition to this purely financial function, the tax mechanism is used for the economic impact of the state for social production, its dynamics and structure, on the state of scientific and technological progress.

Taxesthere is a significant impact on the formation of financial results of the economic activity of the enterprise and the amount of net profit used by the enterprise on the goal of accumulation and consumption. The taxes paid by enterprises include federal taxes, taxes of the constituent entities of the Russian Federation and local taxes. Tax accrual is made with their attribution to various sources.

Part of taxes turns on in the price of products (goods, works, services). Such taxes include value added tax, excise taxes, export customs duties.

Some taxes It is included in the cost of production costs, that is, the cost of depreciable property increases at its cost or the amount. These include a single social tax, transport tax, imported customs duties, government duties, land tax, forest tax, other resource taxes.

Other taxes refer to the financial results of economic activities of enterprises, i.e. Reduce the balance sheet profit of the enterprise: income tax, property tax, advertising tax

Directly from the profits obtained as a result of financial and economic activities and the remaining enterprise after payment of income tax, enterprises pay some local taxes.

Since, as we see, the main source of payment of taxes is the added value, the taxes directly affect the magnitude of the profit remaining at the disposal of the organization, that is, net profit. Indirect taxesAlthough they are not directly paid from the profits, but when the cost of the goods is achieved by the maximum of the purchasing opportunity, they also begin to reduce the share of the profit profitator. The magnitude of the tax burden Inversely proportional to the investment opportunities of the real sector of the economy. The task of public administration It is to preserve the stability of the growth of budget revenues, contribute to economic growth in enterprises. It is natural to assume that there must be a limiter for the tax burden on the economy of taxpayers enterprises. In our opinion, the amount of tax payments should not exceed the third balance sheet profit. Otherwise, incentives are lost to improving the efficiency of the enterprise and profit.

Profit remaining at the disposal of the enterprise after payment of income taxIt is customary to call "net profit." This term is used in financial analysis, planning. In accounting, net profit is called "Retained profit". This term is not quite accurate, as in accounting, the same term is called profit before the payment of dividends and after the payment of dividends.

The remaining two-thirds obtained by the profit organization could be distributed among the owners (shareholders and founders) and the enterprise himself.

This distribution depends on many factors. During the period of technical re-equipment and modernization of production, the development of new types of products and new technologies, the company is extremely in need of financial resources, and the owners must provide them in the first place. This does not mean that they must refuse their expectations and not to receive income into invested capital. Simply, it must be pending expectations and owners will be able to get their dividends after the production of production on design capacity, when the company will start making a profit in sufficient. Dividends for the period of waiting should be at least the interest rate on the bank deposit for the same period, but less rates for credit.

In modern conditions, as a result of the privatization of nationwide property in Russia, there was a class of owners, fundamentally different from the middle class in economically developed and other developing countries. For the most part, these are members of the labor collective, for free or for a small fee received shares of their company. Due to the lack of their own savings, they are not able to invest in their enterprise necessary to exit the financial and industrial crisis. According to the laws of the market economy, no one, except for owners, is obliged to provide funds for financial recovery. Of the current situation there are two outputs: 1) the recognition of the enterprise bankrupt and repay debts due to the sale of property; 2) coverage of losses and debt at the expense of the owners.

In the first case, it may not be enough to cover the property to cover debts, or it consists of difficultly implemented or illiquid assets. Then the recognition of the enterprise bankrupt does not deliver pleasure from anyone interested parties to creditors, employees of the enterprise, the state, owners. Apparently, therefore, the practice of recognizing the enterprise bankrupt in Russia has not yet been widespread.

In the second case, the owners either should voluntarily abandon their property and transfer shares to their enterprise for the subsequent implementation of their money, or make funds for losses and debt. The option is the buying enterprise of its shares at rushing prices, and then resale them at real prices. Practice shows that this version of financial recovery does not apply. Small poor, owners do not have means for "infusion" in their enterprise, but also selling stocks do not rush despite the fact that they do not receive dividends.

At the enterprise, the distribution is made after paying taxes and dividend payments. Some taxes in local budgets are also paid from this profits and economic sanctions are charged.

The distribution of this part of profits reflects the process of forming funds and reserves of the enterprise to finance the needs of industrial and social development.

In the conditions of market economy, the state does not interfere in the distribution process of the profit remaining at the disposal of the enterprise after paying taxes. Nevertheless, through the provision of tax benefits, it stimulates the direction of profit on capital investments and housing and the construction of housing, for charitable goals, financing environmental activities, the costs of maintaining facilities and institutions of the social sphere, to conduct research and development. The minimum amount of reserve capital was established for joint-stock companies, the procedure for creating a reserve for doubtful debts and to impair securities is regulated.

The distribution is subject to net profit, i.e. Profit remaining at the disposal of the enterprise after paying taxes and other mandatory payments.

The distribution of net profit reflects the existing dividend policy of the Organization, the process of forming funds and reserves to finance the needs of the production and development of the social sphere.

The distribution of net profit is one of the directions of intra-profit planning, the value of which in the conditions of a market economy increases. The procedure for distribution and use of profit at the enterprise is fixed in the company's charter and is determined by the Regulations that are developed by the relevant units of economic services and is approved by the Governing Body of the enterprise.

In accordance with the Company's Charter, there may be estimates of expenses funded from profits on the development of production, social needs of the labor collective, on the material promotion of workers and charitable goals.

TO expenditures related to the development of production and funded from profitinclude expenses for research, design, development and technological work, financing the development and development of new products and technological processes, the costs of improving the technology and organization of production, modernization of equipment, costs associated with technical re-equipment and reconstruction of existing production, expansion of the enterprise and new construction of objects, environmental protection measures. The same group of expenses include expenses on the repayment of long-term loans of banks and interest on them. The accumulated profit of the enterprise can be invested by them in the authorized capital of other enterprises, long-term and short-term financial investments, transfer to higher organizations, unions, concerns, associations, etc. These areas are also considered to be used to develop.

The distribution of profit on social needs includes the costs of exploitation of social and household facilities located on the balance sheet of the enterprise, financing the construction of non-production facilities, conducting health and cultural events, etc.

TO costs for material promotion The payment of premiums for achieving in labor, the cost of providing material assistance, one-time benefits to veterans, pensioners, compensation for the cost of the cost of nutrition in the canteens, etc.

Profit distribution on social needs Includes the costs of exploitation of social and household facilities located on the balance sheet of the enterprise, financing the construction of non-production facilities, the organization and development of subsidiary agriculture, holding health, cultural events, etc.

All profits remaining at the disposal of the enterprise is divided into profits that increase the value of the property, i.e. Participating in the accumulation process, and profit, heads for consumption that does not increase the value of the property. If the profit is not spent on consumption, it remains at the enterprise as the retained earnings of past years and increases the size of the company's own capital. The presence of retained earnings increases the financial stability of the enterprise, indicates the availability of the source for subsequent development.

An important role in ensuring financial sustainability plays the size of reserve capital. In the market household of deductions to reserve capital are priority. The presence and increase in reserve capital ensures an increase in joint-stock ownership, characterizes the readiness of the enterprise to risk, with which all entrepreneurial activities are related to the creation of the possibility of paying dividends on privileged shares even in the absence of the current year's profits, covering unforeseen expenses and losses without the risk of financial sustainability.

Net profit of the organization at the end of the reporting period Can be directed:

On deductions to reserve capital (Reserve Fund formation). As is known, reserve capital can be created both in joint-stock companies and in limited liability companies (in the latter, the creation of a reserve fund is voluntary).

For payment dividend. The joint-stock company has the right to make decisions not only about the payment of dividends on the basis of the fiscal year, but also about the payment of interim dividends based on the results of the first quarter, half of the year, the nine months of the fiscal year (payment (announcement) of dividends refers to the competence of the General Meeting of Shareholders). However, the presence of profits sufficient on the size does not mean that the society has the right to declare and pay dividends both by ordinary and preferred shares. The Law "On Joint-Stock Companies" establishes certain restrictions on the payment of dividends:

a) society is not entitled to decide on the payment of dividends to full payment of all authorized capital (for newly created AO);

b) it is impossible to decide on the payment of dividends before the repurchase of all shares, which society is obliged to buy out shareholders on their demand;

c) it is impossible to decide on the payment (declaration) of dividends, if at the time of their payment the joint stock company meets signs of insolvency (bankruptcy) or the specified signs will appear in the Company as a result of dividend payments;

d) the shareholders meeting is not entitled to decide on the payment of dividends if the cost of the Company's net assets is less than the amount of three quantities: authorized capital; reserve fund; Exceeding over the nominal value defined by the charter, the liquidation value of placed preferred shares (or will become less than this amount as a result of dividend payments).

Spending part of profits on the payment of dividends to shareholders increases the profitability of shares, and therefore their course value and attractiveness of new emissions of the enterprise. All this, ultimately, increases the capital of the enterprise. At the same time, this issue is associated with the adoption of serious financial decisions within the dividend policy of the enterprise.

For repayment of losses of past years.

On other payments By decision of shareholders (founders) of the organization. A significant part of profits can be aimed at financing investments in non-current assets and into the increase in working capital (capitalization of profits). Capitalization of net profit allows us to expand the activities of the organization at the expense of their own sources of financing, while reducing the company's financial expenses to attract additional sources to release new shares. Along with the financing of production production, the income remaining at the disposal of the enterprise can be aimed at meeting social needs (the operation of social and household facilities located on the balance sheet of the enterprise, the construction of non-production facilities, conducting health, cultural events); on material encouragement (payment of premiums, providing material assistance to employees, premiums for pensions, etc.).

Profit planning

The economically reasonable definition of the amount of profit is of great importance for the enterprise, it allows you to correctly appreciate its financial resources, the amount of payments to the budget, the possibility of expanded reproduction and material incentives for workers. The implementation of the dividend policy of the joint-stock company depends on the amount of profit. And the amount of profit depends primarily from accounting policies.

Table 3.2. - Impact of some regulations of the accounting policy on the financial position of the organization

Methods of forecasting and planning financial results are currently not regulated, but are described in sufficient detail in the literature. The most famous two traditional profit planning methods are the direct account method and analyticalthat apply with certain restrictions today.

Direct account method. The direct account is based on the fact that the amount of products sold (sales) for each nomenclature position is multiplied consistently on the price of the implementation and at the cost of each unit. The difference between the sums of both works in all positions of the nomenclature is the planned profit. According to incomparable products, the cost of each unit should be determined by planned single calculations. At the same time use the formula:

Profit in the passing remnants of finished products is usually calculated throughout their totality. Since the residues take into account the conditionally and production costs, then the profit on them is calculated as the difference between the sum of the input and weekend balances in the pricing and production costs. All commercial and management costs are conventionally referred to the release of commercial products. Profit in transit residues can also be calculated based on the production cost and profitability level (cost for the 4th quarter of the reporting and scheduled year, respectively).

Accounting for implemented products is carried out according to the method of accruals, i.e. The actual movement of money for shipped products does not coincide with the movement of material. In financial planning, it is important to determine the real profit profit, therefore it is advisable when calculating the profit in the balances of unrealized products in these residues, in addition to residues in stock, goods shipped, but unpaid.

Direct account Metically extremely simple, but with a large number of product items, consideration increases significantly. Calculation requires:

♦ definitions of the range on all positions of the nomenclature;

♦ preparation of calculation for all products of comparable products;

♦ calculate the planned cost and contractual prices for incomparable products, which, in turn, implies the development of a production estimate for all elements;

♦ Establishment of sales prices.

A large method of method is that it does not allow to identify factors affecting the amount of profit in the planning period.

In modern economic conditions, the direct account method can be used when planning profits only for a very short period of time, until prices have changed, salary and other circumstances. This eliminates its application for annual and promising profit planning.

Analytical profit planning methods

These methods are used with enlarged (promising) planning, as well as at the preliminary calculation stage for a business plan in industries with a wide range of products, as well as an addition to the direct method. The calculation base can be the cost of 1 thousand rubles. marketable products, basic profitability, as well as a combination of reporting indicators of the enterprise (factor method).

1.C. accounting of costs per 1 thousand rubles. Commodity products Profit are planning throughout the production of commercial products "comparable and incomparable" according to the following formula:

To determine the total amount of profits from sales, the result obtained is adjusted to the change in profits in the rolling residues of finished products.

When planning a profit based on the basic profitability, the profitability of the reporting year (the ratio of gross profits on commercial products to its cost) is accepted for the base and is adjusted for predicted changes in the planned year. In order to compare the planned year, all expected gross profits for the reporting year adjust the price changes. Separately calculate the profit on incomparable commercial products, the profits in the rebound residues of unrealized products and profit from sales in the planned year.

2. Increased profit on comparable commercial products Analyzes the impact on it changes compared with the reporting year of individual factors: the cost of production, its range and quality, sales prices. Calculation includes nine stadium:

1. Calculation of profits on comparable commercial products based on basic profitability. At the same time, in order to compare the comparability, the entire comparable commercial product of the planned year at the cost of the reporting year is based on its change provided.

2. Determination of the effect of changing the cost of comparable commercial products for profit. For this, comparable commercial products of the planned year at the cost of the reporting and planned year are compared. The difference is the amount of profit (loss) from the cost of cost.

3. Determination of influence on profits on comparable commercial products of changes in the assortment. Calculate the average level of profitability in the structure of the production of reporting and scheduled year. The difference shows the deviation of profitability due to the change of the range.

4. Calculation of the influence of quality on profits on comparable commercial products. It is produced on the basis of the quantity coefficient. Determine the proportion of each variety of products produced in the total production volume and the ratio between prices for individual varieties. The price of the 1st grade is taken for 100%, the price of the 2nd grade is calculated as a percentage of the price of the 1st grade, etc.

5. Calculation of influence on the profit of changes in sales prices of commercial products. Determine the commodity products on which new prices have been introduced, the effect is calculated as a product of said products in the pricing and price change (as a percentage).

6. The calculation of profits in the transit residues of unrealized products. The cost of moving residues multiply on the profitability of products according to the reporting and scheduled year.

7. Calculation of profits from sales. Determine the gross profits, taking into account the influence of the considered factors and profits in the rebound residues of unrealized products and include commercial and management costs planned separately on the basis of estimates.

8. Determination of profit on incomparable product products. This profit is found by a direct method as the difference between the cost of implementing the enterprise and the cost of products. If prices are not installed, the profit is calculated at the average level of profitability.

9. Calculation of the total profit from sales. Slim profits from sales by comparable and incomparable products.

To calculate the final financial result, in addition to profit from sales, calculate results from operating and non-engineering income and expenses.

3. Factory method of profit planning Includes four stage.

1. Definition of basic indicators of the reporting period. As such indicators, apply: gross profit; revenue from sales; Other income and expenses; Cost of goods sold, products, works, services; revenue from the sale of goods, products, works, services; The cost structure by cost elements.

2. Setting the tasks of economic activity. As such tasks, an increase in production volume, cost reduction, increasing other income, etc.

3. Definition of inflation indices. Inflation indices are viewed on the basis of their own analytical observations, forecast expert assessments of specialists, forecasts published in the press, etc. It is recommended to apply the following major inflation indices:

♦ price increase index for manufactured products;

♦ price increase index for material values \u200b\u200bconsumed;

♦ the growth rate of labor costs and the deductions for social needs;

♦ index for changing depreciation deductions related to the revaluation of fixed assets;

♦ Establishment of other costs.

4. Calculation of profits based on economic purposes, inflation, basic indicators.

4.Mart profit planning method

This method is based on the use of margin income indicators (GM), a specific margin profit (GMGM), a margin profit coefficient (KGM):

If necessary, financial planning based on target net profit profit before tax is calculated by the opposite method. Initially, the required amount of net profit is determined, ensuring the implementation of the enterprise development program, meeting the interests of shareholders, the motivation of the successful activities of workers, etc.

Table 3.3. Profit growth fackers