Accounting. Operating income and expenses (most important)

Free technical library

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Accounting. Operating income and expenses (most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

Comments on the article

Table of contents (expand)

58. Operating income and expenses

Operating income is:

▪ receipts related to the provision of the organization's assets for temporary use for a fee;

▪ revenues associated with the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;

▪ income related to participation in the authorized capitals of other organizations;

▪ profit received by the organization as a result of joint activities (under a simple partnership agreement);

▪ proceeds from the sale of fixed assets and other assets other than cash (except foreign currency), products, goods;

▪ interest received for providing the organization's funds for use, as well as interest for the bank's use of funds held in the organization's account with this bank.

Operating expenses are:

▪ expenses associated with the provision of the organization's assets for temporary use for a fee;

▪ costs associated with the provision for a fee of rights arising from patents for inventions, industrial designs and other types of intellectual property;

▪ expenses associated with participation in the authorized capitals of other organizations;

▪ expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash (except foreign currency), goods, products;

▪ interest paid by an organization for providing it with funds (credits, loans) for use;

▪ expenses related to payment for services provided by credit institutions;

▪ contributions to valuation reserves created in accordance with accounting rules (reserves for doubtful debts, for depreciation of investments in securities, etc.), as well as reserves created in connection with the recognition of contingent facts of economic activity;

▪ other operating expenses.

Operating income and expenses are recognized on account 91 "Other income and expenses". The credit of this account reflects other operating income, the debit - operating expenses.

Entries on sub-accounts 91-1 "Other income" and 91-2 "Other expenses" are made accumulatively during the reporting year. On a monthly basis, by comparing the debit turnover on subaccount 91-2 "Other expenses" and the credit turnover on subaccount 91-1 "Other income", the balance of other income and expenses for the reporting month is determined. This balance is monthly (final turnovers) debited from sub-account 91-9 "Balance of other income and expenses" to account 99 "Profit and loss". In this way, synthetic account 91 “Other income and expenses” has no balance at the reporting date.

At the end of the reporting year, all sub-accounts opened to account 91 "Other income and expenses" (except for sub-account 91-9 "Balance of other income and expenses") are closed by internal entries to sub-account 91-9 "Balance of other income and expenses".

1. Written off income:

Debit account 91 "Other income and expenses", subaccount "Other income"

Credit of account 91 "Other income and expenses", sub-account "Balance of other income and expenses".

2. Expenses written off:

Debit account 91 "Other income and expenses", subaccount "Balance of other income and expenses"

Credit of account 91 "Other income and expenses", sub-account "Other expenses".

Author: Kabkova E.N.

<< Back: Sales Cost Accounting

>> Forward: Non-operating income and expenses

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ Marketing. Crib

▪ Pedagogy for teachers. Crib.

▪ Informatics. Lecture notes

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

The anticipation of the holiday affects the sense of time 06.06.2021

American scientists conducted four studies, the results of which showed that the expectation of a holiday negatively affects the perception of time.

The authors of the research were researchers from Ohio State University. They recruited 451 volunteers who were thinking about the coming weekend. Participants then also had to decide whether the weekend would be fun, terrible, or just normal. It turned out that positive events seem to be shorter in duration than negative ones.

Experts believe that the expectation of holidays, weekends or vacations distorts the perception of time. So, with the beginning of the holiday in the imagination of people, it ends, because people ignore the real events.

Other interesting news:

▪ Biogas plant in a backpack

▪ 10000 PPI OLED display

▪ Processing moon dust into oxygen

▪ Alibaba Tmall Genie Home Assistant

▪ Mystery of human brain evolution solved

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Assembling the Rubik's Cube. Article selection

▪ article Conscription military service and its features. Fundamentals of safe life

▪ How does a caterpillar turn into a butterfly? Detailed answer

▪ Article Measuring the width of a river with a blade of grass. Travel Tips

▪ article Transistor metal detector. Encyclopedia of radio electronics and electrical engineering

▪ article The appearance of pigeons. Focus Secret

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews