Table of contents (expand)
- The history of the emergence and development of accounting
- Types of business accounting. Characteristic and relationship
- Features of business accounting in the Russian Federation
- Financial accounting: objects, principles, tasks
- Management accounting: essence and objects
- Methods and principles of management accounting
- Standards of professional behavior of an accountant-analyst. Rights and obligations of the chief accountant
- Essence and functions of accounting
- Goals and objectives of accounting
- Basic Accounting Principles
- International Accounting Principles
- Accounting objects. Their classification
- Documentation of business transactions
- Variety of documents. Classification of primary documents
- Importance of financial statements
- Composition of financial statements
- Publicity of financial statements
- The procedure and terms for the submission of financial statements
- The concept of accounting accounts and their purpose
- Account structure
- Double Entry: Essence and Meaning
- Accounting entries: compilation rules. Off-balance sheet accounts
- Accounting registers and methods of recording in them
- Synthetic and analytical accounting
- Chronological and systematic records
- Turnover, balance, chess statements
- Forms of Accounting
- Organization of the accounting apparatus
- Balance sheet: concept, content, structure
- Basic balance rules
- Tax accounting in the accounting system
- Features of tax accounting
- Economic definition of money. Cash flow statement
- Cash transactions
- Cash in current accounts
- Cash in foreign currency accounts
- Cash in special accounts
- Calculations with accountable persons
- Payments to personnel for other operations
- Settlements with debtors and creditors
- On-farm settlements
- Payments for taxes and fees
- Settlements with suppliers and contractors
- Settlements with buyers and customers
- Payroll
- Accounting for financial investments
- Documentation of fixed assets
- Receipt of fixed assets
- Depreciation of fixed assets
- Disposal of property, plant and equipment
- Repair of fixed assets
- Accounting for intangible assets
- Documentation of inventories
- Accounting for inventories
- Finished product evaluation
- Accounting for the shipment of finished products
- Sales Cost Accounting
- Operating income and expenses
- Non-operating income and expenses
- Deferred income and expenses
- Classification of expenses by ordinary activities
- Financial results
- Accounting for authorized (share) capital
- Accounting for reserve and additional capital
- Accounting for target financing
- Accounting for long-term and short-term loans
- Responsibility center: concept and types
- Costs: concept and classification
- Calculation: concept and types
- Calculation methods
- Closing an organization's cost accounting accounts
- Remuneration of labor: types, forms, accrual procedure
- Organization Personnel Records Documentation
- Documentation on accounting of working hours and settlements with personnel for remuneration
- The concept of accounting policy
- Disclosure and change in accounting policy
- Features of accounting in a small enterprise
- Simplified form of accounting and financial statements for small enterprises
- Accounting for income and expenses from business activities
- The procedure for creating a reserve for doubtful debts
- Accounting for reserves for future expenses
- Inventory: concept, types, reasons, frequency of carrying out
- Requirements and grounds for conducting an inventory
- The main documents used in the inventory check
- Analysis of inventory results
- Documentary revision: essence, types, tasks, features
- Forensic accounting expertise: concept, tasks, difference from documentary audit
- The essence and content of the audit
- Audit activity and its regulation
- Audit Methodology and Auditing Standards
80. The procedure for creating a reserve for doubtful debts
The accounting policy provides for the reflection of the procedure for creating a provision for doubtful debts.
In conditions of economic instability, many enterprises are insolvent. In order for organizations to insure themselves against financial losses, they form allowance for doubtful debts.
Before creating a reserve, it is necessary to find out information about the solvency of the debtor and the probable maturity of obligations. This information is necessary in order to determine the amount of cash deductions to the reserve.
Based on the results of the inventory of settlements with various debtors and creditors, the management of the enterprise decides to create a reserve for doubtful debts. In this case, the identified debt is classified as follows:
▪ doubtful debts with a period of occurrence over 90 days;
▪ doubtful debts with a period of occurrence From 45 to 90 days;
▪ doubtful debts with a period of occurrence to 45 days.
The creation of a reserve must be confirmed by an order or order of the director of the organization or a person replacing him. For accounting purposes, deductions to reserves are included in non-operating expenses on the last day of the reporting (tax) period.
The amount of the created reserve cannot exceed 10% of the revenue of the reporting (tax) period. Funds from the reserve are used solely to cover losses from bad debts.
Allowances for doubtful debts are accounted for account 63 "Provisions for doubtful debts".
For the amount of reserves created, entries are made on the debit of account 91 "Other income and expenses" and the credit of account 63 "Reserves for doubtful debts":
Debit account 91 "Other income and expenses"
Credit of account 63 "Reserves for doubtful debts".
When writing off unclaimed debts previously recognized by the organization as doubtful, entries are made in the debit of account 63 "Reserves for doubtful debts" in correspondence with the corresponding accounts for accounting for settlements with debtors. The record reflects:
Debit account 63 "Reserves for doubtful debts"
Credit of account 76 "Settlements with different debtors and creditors".
The addition of unused amounts of reserves for doubtful debts to the profit of the reporting period following the period of their creation is reflected in the debit of account 63 "Reserves for doubtful debts" and the credit of account 91 "Other income and expenses".
Analytical accounting on account 63 "Reserves for doubtful debts" is carried out for each created reserve.
If the amount of the allowance for doubtful debts is not fully used, then it is transferred to the next reporting (tax) period.
The amount of the newly created reserve should be adjusted for the amount of the balance of the reserve of the previous reporting period.
If the amount of the created reserve is less than the amount of the balance of the reserve of the previous reporting period, then the difference is subject to inclusion in the non-operating income of the taxpayer in the current reporting year.
If the amount of the newly created reserve based on the results of the inventory of the previous reporting (tax) period is greater, then the difference is attributed to non-operating expenses.
Debts not claimed by other organizations are recognized as income of the debtor enterprise.
Author: Kabkova E.N.
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