41. Income and expenses in the balance sheet

Accounting reflects the income and expenses of the company.

This information relates to a specific reporting period in which there were receipts and payments of funds that are related to these incomes and expenses.

Profits firms are taxed in accordance with Article 248 of the Russian Tax Code. The income of the organization is: income from the sale of goods and services, income from the sale of property rights, income not related to the sale. When calculating the tax, the reporting (tax) period is taken in which the receipts of funds, property funds or property rights are recorded.

The company's income is classified according to the direction of its activities:

1) from the main activity;

2) from the realization of the firm's investments;

3) from the financial activities of the firm. The expenses of the company are considered to be a decrease in property assets, cash, the assumption of obligations that lead to a decrease in the total capital of the company.

Expenses are not considered those expenses that do not affect the value of the company's capital. These include: the creation of non-current assets, contracts in favor of a commission or agents, contributions to the authorized capital of other firms or companies, the acquisition of shares in other organizations, payment for stocks of materials and work, repayment of loans or credits, payment of advances and deposits.

Expenses in accounting, like income, are classified depending on the direction of the company.

Expenses that are associated with the ordinary activities of the company include:

1) expenses that are associated with the production and sale of the company's products or the provision of services;

2) expenses associated with the provision of leased assets;

3) expenses associated with the participation of the company in the authorized capital of other organizations;

4) expenses on deductions in the form of depreciable assets in order to recover the cost of fixed assets;

5) expenses associated with payment for granting rights under patents for inventions.

Expenses for ordinary activities pass through the account in the amount that was accrued in cash, equal to the amount of the loan or other debt.

Expenses of the current period are subdivided depending on the conditions, direction and nature of the company's activities. There are costs associated with production activities and the sale of goods and services (labor costs, material costs, accrued depreciation, and others) and costs not related to the sale of products.

Authors: Egorova E.N., Loginova E.Yu.

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