Correction of the primary accounting document, order of the right to sign. Correction of errors in accounting and reporting What is considered an accounting error

"He is not mistaken, who does nothing"(Russian proverb,fixednnand Iin the Collection of figurative words and allegories, 1904,earlier indictionary of V.I. Dahl, the first edition of which dates back to 1865-1866G.).
"A person who commits a lot and makes mistakes in many things" (Euripides) .

However, such issues have been resolved for all organizations except credit institutions and budgetary institutions.

Having in your arsenal a clear definition of error for purposes accounting, you can reasonably defend your position on the presence or absence of such.

The definition of error (incorrect reflection (non-reflection) of facts economic activity in the accounting and (or) financial statements of the organization) is disclosed by the following open list of criteria, in particular:

1. misapplication of legislation Russian Federation on accounting and (or) regulatory legal acts on accounting;
2. misuse accounting policies organizations;
3. inaccuracies in calculations;
4. incorrect classification or assessment of the facts of economic activity;
5. misuse of information available at the date of signing the financial statements;
6. unscrupulous actions of officials of the organization.

Attention!

If 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, then the first NOT are errors.

This addition to the accounting policy will allow avoiding the risk of disagreements with tax authorities, auditors and other controllers on the degree of possible distortion of financial statements and the need to replace distorted financial statements with revised ones3.

The concept of the materiality of an error for the purposes of PBU 22/2010 is determined by the statement - if the error is separately or in combination with other errors for the same reporting period may affect on the economic solutions users accepted by them on the basis of the accounting statements compiled for this reporting period, then it is significant.

Now let's move on to the order of error correction, which is literally as follows - obligatory errors and their consequences are subject to correction.

For the convenience of perceiving the norms of PBU 22/2010, I propose to study the following comparative table:

Legend: "x" - the value in PBU 22/2010 is not directly defined.

Attention!
The revised financial statements must be submitted to all addresses to which the original financial statements were submitted.
The annual financial statements are approved in the manner prescribed by the constituent documents10 by the authorized body of the legal entity, namely:

In the Explanatory Note to the annual financial statements, the organization must 11 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 adjustments for each item in the financial statements - for each previous reporting period to the extent that it is practically feasible;
3. The amount of the adjustment for basic and diluted earnings (loss) per share (if the entity is required to disclose earnings per share);
4. The amount of the opening balance adjustment for the earliest reporting period presented;
5. Reasons for the impossibility of determining the impact of a material error on one or more previous reporting periods and a description of the method for reflecting the correction of a material error in the accounting statements of the organization and the period from which the corrections were made is indicated12.

1. On July 30, 2010, the Ministry of Justice of the Russian Federation registered the Order of the Ministry of Finance of Russia dated June 28, 2010 No. 63n "On approval of the Accounting Regulations" Correction of errors in accounting and reporting (PBU 22/2010) ".

2. In the event of a change in the legislation of the Russian Federation and (or) regulatory legal acts on accounting, the organization may make a change in the accounting policy (clause 10 of the Order of the Ministry of Finance of the Russian Federation of October 6, 2008 N 106n "On Approval of Accounting Regulations PBU 1 / 2008 ").

3. Reporting in which the revealed material error has been corrected.

4. The year for which the annual financial statements are prepared.

5. Reporting in which the revealed material error has been corrected.

6 .Shareholders joint stock company, members of a limited liability company, body state power, body local government or another body authorized to exercise the rights of the owner, etc.

7. Reporting in which the revealed material error has been corrected.

8. 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.

9. 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 previous reporting period (clause 13 of PBU 22/2010).

10. Clause 2, Article 15 Federal Law of 21.11.1996 No. 129-FZ "On Accounting"

11.P.15 PBU 22/2010

12.P.16 PBU 22/2010

Starting from the annual financial statements for 2010, the Accounting Regulation “Correction of errors in accounting and reporting” (PBU 22/2010), which was approved by order of the Ministry of Finance dated June 28, 2010, No. 63n, comes into force. PBU 22/2010 establishes the rules for correcting errors and the procedure for disclosing information about errors in accounting and reporting of organizations that are legal entities(excluding credit institutions and budgetary institutions).

General Provisions

Error - this is an incorrect reflection (non-reflection) of the facts of economic activity in the accounting or financial statements of the organization (clause 2 of PBU 22/2010).

The error can be caused, in particular:

• misapplication of legislation;
• 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.

All identified errors and their consequences are subject to mandatory correction (clause 4 of PBU 22/2010).

Errors can be significant and insignificant.

At the same time, inaccuracies or omissions in the reflection of the facts of economic activity revealed as a result of obtaining new information that were not available at the time of reflection (non-reflection) of such facts (clause 2 of PBU 22/2010) are not errors.

For your information

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Corrections in cash and bank documents are not allowed. The rest of the primary accounting documents can be corrected only by agreement with the participants in business operations, which must be confirmed by the signatures of the same persons who signed the documents, indicating the date of the amendments (clause 5 of article 9 Federal law dated 21.11.1996, No. 129-FZ "On accounting").

According to clauses 4.2 and 4.3 of the "Regulations on documents and workflow in accounting" (approved by the USSR Ministry of Finance on July 29, 1983, No. 105) errors in primary documents are corrected as follows: the incorrect text or amounts are crossed out and the corrected text or amounts are written above the crossed out ... Strikethrough is performed with one stroke so that the corrected can be read. Correction of an error in the original document must be indicated by the inscription "corrected".

Rules for correcting minor errors

The order in which errors are corrected depends on when they were discovered (see Table 1).

Rules for correcting significant errors

General rules

The error is recognized as significant if it, individually or in combination with other errors for the same reporting period, can affect the economic decisions of users made on the basis of financial statements compiled for this reporting period (clause 3 of PBU 22/2010).

The organization determines the materiality of the error on its own, proceeding from both the size and the nature of the relevant articles of the financial statements (clause 3 of PBU 22/2010). Therefore, we advise you to prescribe the materiality criteria in the accounting policy of the enterprise.

Correcting significant errors also depends on when they were discovered.

It is worth recalling here that organizations are required to submit financial statements to tax authorities at the place of its location (subparagraph 5 of clause 1 of article 23 of the Tax Code of the Russian Federation). According to the annual financial statements, this must be done within 90 days after the end of the year. At the same time, the submitted annual financial statements must be approved in accordance with the procedure established by the constituent documents of the organization (clause 2 of article 15 of the Federal Law of November 21, 1996, No. 129-FZ "On accounting"). For example, the annual report of a joint-stock company is subject to preliminary approval by the board of directors (supervisory board) of the company, and in the absence thereof, by the person acting as the sole executive body of the company. This must be done no later than 30 days before the date of the annual general meeting of shareholders (clause 4 of article 88 of the Federal Law of December 26, 1995, No. 208-FZ "On Joint Stock Companies").

Errors identified before the approval of the annual financial statements

In Table 2, we have provided the Procedure for correcting material errors identified before the approval of the annual financial statements.

As you can see, all errors of the previous reporting year, revealed even before the approval of the annual financial statements, are corrected with entries for December of the reporting year.

Errors identified after the approval of the annual financial statements

Errors of the previous reporting year, identified after the approval of the annual financial statements, are corrected as follows (clause 9 of PBU 22/2010):

1. entries on the relevant accounting accounts in the current reporting period. In this case, the corresponding account is account 84 "Retained earnings (uncovered loss)";
2. by recalculating the comparative indicators of the financial statements for the reporting periods reflected in the statements for the current reporting year. The exceptions are 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 on a cumulative basis in relation to all previous reporting periods.

V in this case the approved financial statements for the previous reporting periods are not subject to revision, replacement and re-submission to the users of the statements (clause 10 of PBU 22/2010).

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 in the previous reporting period had never been made. We are talking here about the so-called retrospective recalculation. The specified recalculation is carried out 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.

Now let's see what to do 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. In this case, the opening balances on the corresponding items of assets, liabilities and capital at the beginning of the earliest of the presented reporting periods are subject to adjustment (clause 11 of PBU 22/2010).

For your information

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Currently, organizations have the right to disclose data for more than two years in the financial statements for each numerical indicator (clause 10 of PBU 4/99, approved by order of the Ministry of Finance dated 06.07.1999 No. 43n). True, in the main, companies in their reports reflect information for only two years - the reporting one and the one preceding the reporting one.

Meanwhile, starting with the annual reporting for 2011, the balance sheet will have to indicate data not only for the reporting period and prior year, but also for the year preceding the previous one (order of the Ministry of Finance dated 02.07.2010 No. 66n "On the forms of financial statements of organizations").

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 opening balance for the corresponding items of assets, liabilities and capital should be adjusted at the beginning of the earliest of the periods for which recalculation is possible (clause 12 of PBU 22/2010).

In some cases, it is impossible to determine the impact of a material error on the previous reporting period. We are talking here about situations when complex or numerous calculations are required, during the performance of which it is not possible 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 previous reporting period (p. . 13 PBU 22/2010).

We fill out an explanatory note

The explanatory note to the annual financial statements reflects the following information regarding material errors of the previous reporting periods, corrected in the reporting period (clause 15 of PBU 22/2010):

• 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;
• adjustments for basic and diluted earnings (loss) per share (if the entity is required to disclose earnings per share);
• the amount of the adjustment to the opening balance of 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 the explanatory note to the annual statements discloses the reasons for this. In this case, a description of the method for reflecting the correction of a material error in the financial statements should be provided and the period from which the corrections were made (clause 16 of PBU 22/2010) should be indicated.

MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

ORDER
from 28.06.10 N 63n

ON APPROVAL OF THE REGULATIONS

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 Resolution of the Government of the Russian Federation dated 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

Approved by
By order of the Ministry of Finance
Russian Federation
from 28.06.2010 N 63n

POSITION
ACCOUNTING ACCOUNTING "ERROR CORRECTION IN ACCOUNTING
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 the 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).
(as amended by the Order of the Ministry of Finance of Russia dated 25.10.2010 N 132n)

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 significant 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 financial statements compiled for this reporting period. The organization determines the materiality of the error independently, based on both the size and the nature of the corresponding article (articles) of the financial statements.

II. Error Correction Procedure

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 drawn up).

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 a joint-stock company, participants in 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 these Regulations. 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 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, 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, unless 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 in 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 this year, in the manner prescribed by paragraph 14 of this Regulation, without retrospective recalculation.
(the paragraph was introduced by the Order of the Ministry of Finance of Russia dated 08.11.2010 N 144n, as amended by the Orders of the Ministry of Finance of Russia dated 27.04.2012 N 55n, dated 06.04.2015 N 57n)

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 shall not be subject to revision, replacement and re-submission to the 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 on the corresponding items of assets, liabilities and capital 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 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.

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 is reflected in other income or expenses of the current 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 according to 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 presented reporting periods.

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 provides a description of 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.

"Russian tax courier", 2011, N 1-2

In 2010 Russian standards on accounting were replenished with a new Regulation on accounting - PBU 22/2010. What are the requirements in this document? How new order does the accounting error correction differ from the previous rules? This is described in the article.

By order of the Ministry of Finance of Russia dated June 28, 2010 N 63n (hereinafter - Order N 63n), PBU 22/2010 "Correction of errors in accounting and reporting" was approved<1>... In clause 2 of this Order, it is determined that this document comes into force with the annual financial statements for 2010. PBU 22/2010 must be applied by all organizations, with the exception of budgetary institutions and credit organizations. The purpose of the new accounting standard is to establish rules for correcting errors identified in accounting, and to determine the procedure for reflecting adjustments in financial statements.

<1>Order No. 63n was registered with the Ministry of Justice of Russia on July 30, 2010 and published in " Russian newspaper"August 6, 2010

Since when is PBU 22/2010 applied

Since August 2010, after the publication of PBU 22/2010, among accountants, auditors and other accounting specialists, disputes began about which rules should be applied when correcting errors in accounting in 2010. The fact is that, along with the previous rules corrections of the mistakes of previous years, set out in clause 11 of the Instructions on the procedure for drawing up and submitting financial statements (hereinafter referred to as the Instructions), approved by Order of the Ministry of Finance of Russia dated July 22, 2003 N 67n (hereinafter referred to as Order N 67n), new requirements appeared, recorded in PBU 22 / 2010 (Order N 63n). Moreover, in relation to the annual financial statements for 2010, both of these Orders are applied.

Note. According to clause 12 of the Decree of the President of Russia of 23.05.1996 N 763, normative legal acts of federal executive bodies enter into force simultaneously throughout the territory of the Russian Federation after 10 days after the day of their official publication, unless the acts themselves establish a different procedure for their entry into force.

Let's figure out from what moment the rules set out in PBU 22/2010 should be applied. Do they relate only to the final financial statements, which will be drawn up at the end of 2010, or should the new rules be applied in accounting to correct all errors discovered during 2010?

Since clause 2 of Order No. 63n contains a separate indication of its entry into force from the financial statements for 2010, many experts believe that it is necessary to fulfill the requirements of PBU 22/2010 only from January 1, 2011. This is the date from which the hot it's time for accountants, - the time for the formation of the final financial statements for 2010. According to the supporters of this position, errors found in accounting during 2010 need to be corrected according to the previous rules, and if an error is detected after January 1, 2011, - from taking into account the requirements of PBU 22/2010.

In our opinion, this approach is erroneous. In practice, we, in fact, are used to calling the final statements, which are drawn up at the end of the reporting year, as annual financial statements. But in this case, it seems that in Order No. 63n the Ministry of Finance of Russia uses the expression "annual financial statements" in a broader sense - as a set of all accounting indicators reflected in the financial statements for 2010.

In our opinion, PBU 22/2010 should be applied in accounting in relation to errors current year and previous years identified after January 1, 2010. It does not matter when exactly in 2010 the error was discovered - before the official publication of PBU 22/2010 or later. It needs to be corrected according to the rules of the new accounting standard.

Note. It is possible to apply the rules of PBU 22/2010 already starting from the financial statements for nine months of 2010. And when forming the annual financial statements for 2010, all organizations must necessarily correct errors discovered during 2010 or identified during the formation of financial statements for this year , according to the requirements of PBU 22/2010.

Let's consider a specific situation. Let's say an organization discovered several significant errors in 2009 at different times: the first in May 2010, and the second in September of the same year. If you follow the recommendations of those experts who claim that PBU 22/2010 applies only to errors discovered after January 1, 2011, you will get the following picture. Errors for 2009, found in May and September 2010, need to be corrected in 2010, in the month of their discovery by accounting records on account 91 (according to the same rules for correcting errors of previous years). This means that the correction of these errors will affect the value financial result economic activity of the organization as a whole for 2010

Is it possible in this situation to assert that the organization has complied with the requirements of PBU 22/2010 when drawing up the annual financial statements for 2010? Of course not. In this case, the norms of the new accounting standard will not be met in the reporting for 2010. This is a clear violation of clause 2 of Order N 63n. To prevent this from happening, it would be more correct to apply the new rules for correcting errors in relation to all inaccuracies and distortions identified during 2010.

Previous error correction rules

PBU, dedicated exclusively to the issue of correcting errors, appeared in the Russian regulatory framework for accounting for the first time. Prior to this, error correction rules were comparatively concise. So, the accountant of the organization, upon detection of an error in the accounting data, had to be guided by the rules set out in clause 11 of the Instructions. The procedure for correcting the error depended on the period to which it belongs and when it was revealed.

If an error made in the current period was discovered before the end of the reporting year, it should have been corrected by entries in the corresponding accounting accounts in the month of the reporting period when the distortions were identified.

For example, an inaccuracy in reflecting business transactions of the reporting year was discovered after its completion, but before the approval of the annual financial statements. In this case, corrections in accounting must be made retroactively - by entries for December of the reporting year for which the annual financial statements are generated. In practice, such adjustment entries were usually dated December 31st. Due to this, the financial result of the economic activity of the organization for the reporting year was immediately formed taking into account the corrections made.

If the annual financial statements of the organization have already been approved in accordance with the established procedure, and then errors have been identified in the organization for last year, it is no longer possible to make corrections to the approved annual financial statements. In this case, corrections in accounting must be made as of the current date - at the moment when an error of past years was discovered.

Starting next year, starting with the annual financial statements for 2011, Order No. 67n will be canceled. This is stated in the Order of the Ministry of Finance of Russia dated 09.22.2010 N 108n.

Note. According to clause 7 of PBU 9/99, the profit of previous years, revealed in the reporting year, is reflected as part of other income of the organization. A similar rule is contained in clause 11 of PBU 10/99. It says that the losses of previous years recognized in the reporting year relate to other expenses.

New bug fix requirements

Let's analyze the new rules for correcting errors set out in PBU 22/2010 in order to understand how they differ from the previous order (table on p. 120.).

Table. Comparing new and old error correction rules

General approaches to error detection

Clause 2 of PBU 22/2010 provides the definition of an error. So, an error is recognized as the incorrect reflection or non-reflection of the facts of economic activity in the accounting and (or) financial statements of the organization. Errors can be caused by various factors. In particular, these include:

• incorrect application of the legislation of the Russian Federation on accounting and (or) regulatory legal acts on accounting;
• incorrect application of the accounting policies of the organization;
• inaccuracies in calculations;
• incorrect classification or assessment of the facts of economic activity;
• incorrect use of information available at the date of signing the financial statements;
• dishonest actions of officials of the organization.

A very important note was made in the last paragraph of paragraph 2 of PBU 22/2010. It considers the situation when an organization receives new information that was not available to it at the time of reflection (non-reflection) of the facts of economic activity. Inaccuracies in the accounting and (or) financial statements of the organization that have arisen due to the lack of this information are not errors. This means that an organization that has received in the current reporting period new information about the facts of economic activity related to previous reporting periods should not apply RAS 22/2010 to correct the identified inaccuracies. The newly received data should be reflected in accounting in the generally established manner in the month when this information became known to the organization. Data accounting records They are not bug fixes, but represent a transaction that is currently being reported to the organization.

From the point of view of taxation, a completely different approach to such situations is practiced. If the organization belatedly received documents that are dated from the previous reporting (tax) period and indicate the completion of a particular business transaction in the past period, this is interpreted as a distortion of data (error) for past periods. According to the rules of paragraph 1 of Art. 54 of the Tax Code of the Russian Federation, if a mistake has led to tax arrears, the organization must submit an updated tax return for the previous period.

Note. If the misstatement has led to an excessive payment of tax to the budget, then the taxpayer has the right to adjust the tax base and the amount of tax in the current period in which the error was found.

Example 1... Suppose LLC "Style" in April 2011 received from the supplier - CJSC "Investkom" an act on communication services provided in November 2010 The document is dated November last year. The cost of services was 9440 rubles. (including VAT - 1440 rubles). Together with the act, CJSC Investcom sent an invoice, also dated November 2010.

Last year, Stil LLC did not have this information on the amount of communication services provided and did not reflect it in the accounting and reporting for 2010.

Guided by clause 2 of PBU 22/2010, the organization in April 2011 made a accounting ordinary entries to reflect the cost of communication services provided to her in November last year:

Debit 26 Credit 60

• RUB 8,000 - reflects the cost of communication services provided in November 2010;

Debit 19 Credit 60

• 1440 RUB - the amount of VAT charged for communication services has been taken into account;

Debit 68, subaccount "Calculations for VAT", Credit 19

• 1440 RUB - accepted for deduction the amount of VAT on communication services provided in November 2010.

Thus, LLC "Stil" reflected in the accounting not the correction of the error for the last year, but the usual accounting records for the reflection of the business transaction for the purchase of communication services.

The invoice from CJSC Investcom was registered in the book of purchases for the II quarter of 2011, because the services were taken into account and the invoice was received during this period.

V tax accounting Failure to reflect the cost of communication services for November 2010 led to an overestimation of tax base and overpayment of income tax for the past year. Therefore, LLC "Style", based on the norms of paragraph 1 of Art. 54 of the Tax Code of the Russian Federation, decided not to submit an updated income tax declaration to the tax authorities, but to make the necessary adjustments to the tax base for the current period. In the income tax return for the six months of 2011, the organization reflected the amount of expenses for communication services provided to it in November 2010. On line 040 of Appendix No. 2 to sheet 02 of the declaration as part of indirect costs an additional cost of 8,000 rubles was indicated.

Significant and insignificant errors

According to PBU 22/2010, errors for previous periods are divided into significant and insignificant. Clause 3 of this standard provides a definition of material errors. 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 financial statements compiled for this reporting period. The organization determines the materiality of the error independently based on both the size and the nature of the corresponding article (articles) of the financial statements.

Note. If an error, by itself or in combination with other errors for the same reporting period, can affect the economic decisions of users made on the basis of the financial statements compiled for this reporting period, then it is considered significant.

This means that the organization must determine in the accounting policy which errors are recognized as significant for it. In our opinion, this should be done by making additions to the accounting policy for 2010, because the new PBU 22/2010 applies to the annual financial statements for this year.

The accounting policy should indicate the magnitude of materiality for errors in absolute and (or) percentage terms. Materiality in absolute terms is the amount above which the error will be considered material. Materiality in percentage terms is the share in relation to any accounting indicators or a particular item of accounting statements, above which the error will be recognized as significant.

Note. In accounting policies, you can set both an absolute and a percentage value for significant errors at the same time. A situation is not excluded when a violation of a small amount turns out to be significant in percentage terms in relation to the total amount of a particular indicator of the financial statements.

Let's remind that the generally accepted level of materiality in percentage is about 5%. This value is mentioned in certain regulations of the Ministry of Finance of Russia<2>... And in st. 15.11 of the Code of Administrative Offenses of the Russian Federation states that a gross violation of the rules of accounting and presentation of financial statements means a distortion of the amounts of accrued taxes and fees by at least 10%, as well as a distortion of any article (line) of the accounting form by at least 10%. When setting the materiality value for errors in the accounting policy, the organization should be guided by the specified norms.

<2>See clause 1 of the Instructions, clause 1 of the Instructions on the procedure for drawing up and submitting financial statements of insurance organizations (Order of the Ministry of Finance of Russia dated 05/11/2010 N 41n), as well as clause 88 Methodical instructions on accounting of inventories (Order of the Ministry of Finance of Russia dated December 28, 2001 N 119n).

In our opinion, it is possible to prescribe a provision in the accounting policy according to which the error will be recognized as material for the organization if the following conditions are met simultaneously:

• the amount of the distortion exceeds a certain amount of n thousand rubles;
• the error value is n% of total cost of this type of assets (liabilities), from the value of the corresponding indicator of financial statements, etc.

In addition, the organization needs to highlight errors that will be recognized as significant based on the relevant articles of the accounting statements. We are talking about those reporting indicators that are very significant for the organization and users of its reporting when making economic decisions. Misstatements in these accounting statements will be recognized as material regardless of the amount of the error.

Sometimes an individual error may be small in magnitude, but suppose there are many similar minor errors in this reporting period. For example, an accountant incorrectly records the same typical operation... In this case, all typical errors should be considered in aggregate. It is possible that the total amount of such errors will exceed the materiality limit established in the accounting policy of the organization. These errors are collectively assessed as significant. This means that they will have to be corrected according to the rules established in PBU 22/2010 for significant errors.

New procedure for correcting errors of the reporting year

The general rule set out in clause 4 of PBU 22/2010 states that any errors identified in accounting and reporting must be corrected. Moreover, not only mistakes should be corrected, but also the consequences to which they led. The order in which errors are corrected depends on whether they are material or immaterial and at what point they were discovered. PBU 22/2010 provides the following classification of errors depending on the period when they are detected:

• errors of the reporting year revealed before the end of this year (clause 5);
• errors of the reporting year, revealed after its end, but before the date of signing the financial statements for that year (clause 6);
• 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 owners, shareholders, participants of the limited liability company (clause 7);
• 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 or other body authorized to exercise the rights of an owner (hereinafter referred to as owners), but before the date of approval of such reporting in the prescribed manner (clause 8);
• significant errors of the previous reporting year, revealed after the approval of the financial statements for this year (clause 9);
• errors of the previous reporting year, which are not material, identified after the date of signing the statements for this year (clause 14).

Let's take a closer look at how, according to the rules of PBU 22/2010, corrections are made to accounting and accounting data.

Reporting year error identified 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. By adjusting the data current accounting the results of correcting such an error will be taken into account when forming the financial statements for the given reporting year.

Example 2... In November 2010, the accountant of LLC Alpha discovered that in the third quarter of this year, the corresponding amount of expenses for voluntary insurance workers. The amount of unwritten expenses is 72,000 rubles. An accounting statement was drawn up in which the accountant calculated the amount of insurance costs for the III quarter of 2010 to be written off from account 97. In accordance with clause 5 of PBU 22/2010 in accounting LLC "Alpha" in November 2010 made a correctional entry:

Debit 26 Credit 97

V tax accounting this amount employee insurance costs were also not taken into account when compiling tax return for the nine months of 2010, although it fully complied with the conditions for recognizing such expenses, established by paragraph 16 of Art. 255 of the Tax Code of the Russian Federation. As a result, OOO Alfa overstated the tax base for the past reporting period, which led to an overpayment of income tax to the budget. On the basis of clause 1 of Art. 54 of the Tax Code of the Russian Federation, the accountant Alpha LLC did not draw up an updated income tax declaration for the nine months of 2010. In November of this year, in the tax register for accounting for labor costs, he additionally reflected the amount of 72,000 rubles. These costs for voluntary insurance of employees were accounted for as indirect costs on line 040 of Appendix No. 2 to sheet 02 of the income tax declaration for 2010.

Note. In practice, these correction entries are usually made on December 31st. As a result, the error becomes corrected within the year to which the operation belongs. This means that the financial result for this reporting year will be immediately generated taking into account the corrected error.

An error in the reporting year, revealed after its end, 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 (that is, the year for which the annual financial statements are prepared). In other words, if an error for the reporting year is discovered at the beginning of the next year during the period for the formation of financial statements for this reporting year, entries should be made on the same accounting accounts on which this operation is usually supposed to be reflected. But these records need to be dated December - the last month of the reporting year.

Example 3... Let's use the condition of example 2. Suppose that the accountant of OOO Alpha discovered an error in writing off the costs of voluntary insurance of employees for the III quarter of 2010 in February 2011. The annual financial statements of the organization for 2010 have not yet been drawn up and signed.

Based on clause 6 of PBU 22/2010, the accountant reflected in the accounting records on writing off the costs of voluntary insurance of employees from account 97 to the accounting account general operating expenses(example 2). These entries were dated December 31, 2010. Thanks to these actions, the results of correcting this error were immediately taken into account when preparing the annual financial statements of Alpha LLC for 2010.

Now we will consider three cases when an error of the reporting year was discovered after the signing of the annual financial statements. Please note: we will only talk about essential errors for the past reporting year.

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 submission of such statements to the owners, is corrected in the same manner as in the previous case discussed above (example 3). That is, entries on the relevant accounting accounts dated December of the reporting year. If the signed annual financial statements have already been submitted to any other users, then they must be replaced with statements in which the revealed material error has been corrected (revised financial statements).

Who belongs to other users to whom the annual financial statements can be submitted earlier than the owners? These can be tax authorities, state statistics bodies, the bank from which the organization plans to take out a loan, the counterparties with whom they are going to conclude an agreement, and, after all, the head of the organization, who is not the owner, who signed the annual financial statements.

After making adjustments to accounting, dated December of the reporting year, the data on the accounting accounts will change. Therefore, the accountant needs to re-calculate the financial result and generate new annual financial statements. These revised financial statements should be presented to all users in lieu of the original financial statements presented to them earlier.

A significant error of the previous reporting year, revealed after the presentation of financial statements for this year to the owners, but before the date of approval of such statements in accordance with the procedure established by the legislation of the Russian Federation, is corrected in the same way - by entries on the relevant accounting accounts dated December of the reporting year (example 3). All addresses where the original financial statements were submitted must submit the revised financial statements. Unlike the previous situation, in this case, the revised financial statements provide information that this reporting replaces the initially presented financial statements, and also indicates the grounds (reasons) for drawing up the revised financial statements. This information can be formalized in the form of notes to the revised financial statements.

Note. If a material error of the previous reporting period is revealed after the financial statements for this year have been submitted to the owners, but before the date of approval of such statements, revised statements must be submitted to all addresses where the original financial statements were submitted.

A significant error of the previous reporting year, revealed after the approval of the financial statements for this year, is corrected as follows. The approved annual financial statements are not subject to revision, replacement or resubmission to users. This is determined by clause 10 of PBU 22/2010. In this case, a material error for the past reporting year is corrected directly in the current reporting period in which it was discovered. The procedure for such an adjustment is given in clause 9 of PBU 22/2010.

First, you need to make entries for the relevant accounting accounts in the current reporting period. In this case, the offsetting account in the records must be account 84 "Retained earnings (uncovered loss)". Then you should recalculate the comparative indicators of the financial statements for the reporting periods, reflected in the financial statements of the organization for the current reporting year. It is allowed not to recalculate reporting indicators for previous reporting periods if it is impossible to establish a link between this error and a specific period or it is impossible to determine the impact of this error on a cumulative basis in relation to all previous reporting periods.

Note. Situations when it is possible not to recalculate the reporting figures for previous reporting periods are extremely rare. After all, usually the organization knows to which past period the detected error belongs, and it is possible to calculate to what distortions of the accounting statements this error has led.

The comparative indicators of the financial statements are recalculated retrospectively. That is, the corresponding indicators of previous reporting periods are recalculated, which are reflected in the financial statements of the current reporting year, in which the error was detected, as if the error of the previous reporting period had never been committed. When drawing up interim (annual) financial statements for the current reporting period, in which an error was found, the organization corrects in it the recalculated indicators relating to previous reporting periods.

Note. Comparative figures are restated retrospectively starting from the previous reporting period presented in the financial statements for the current reporting year in which the corresponding error was made.

Example 4... Let's use the condition of example 2. Suppose that an accountant of OOO Alpha in May 2011 discovered an error in writing off the costs of voluntary insurance of employees for the III quarter of 2010. By this time, the organization's annual financial statements for 2010 had already been approved in accordance with the established procedure. According to the accounting policy of the organization, this amount of error is considered material.

Based on clause 9 of PBU 22/2010, the accountant of Alpha LLC in May 2011 made a accounting the following correctional entry:

Debit 84, subaccount "Retained earnings (uncovered loss) for 2010", Credit 97

• RUB 72,000 - reflects the amount of expenses for voluntary insurance of employees for July, August and September 2010.

When drawing up financial statements for the half of 2011 Accountant Alpha LLC recalculated the comparative figures for 2010. Financial statements for this period 2011 was drawn up according to new forms approved by Order of the Ministry of Finance of Russia dated 02.07.2010 N 66n (hereinafter - Order N 66n)<3>.

<3>The procedure for filling out new forms of financial statements from 2011 will be considered in one of the next issues of the journal. - Note. ed.

In the asset balance sheet in the column "As of December 31, 2010" were reduced by 72,000 rubles. indicators of line 1260 "Other current assets" (which included the remainder of the amount of prepaid expenses at the end of 2010), line 1200 "Total for Section II" and line 1600 "Balance". The values ​​of the indicators of line 1370 "Retained earnings (uncovered loss)", line 1300 "Total for section III"and line 1700" Balance. "

V profit and loss statement for the half-year of 2011, no recalculation of the indicators for the last year was made, since in this form comparative indicators for the half-year of 2010 were given, and the error referred to the III quarter of the last year. The consequences of this error will be corrected in the income statement for the next reporting period.

Compiling the profit and loss statement for the nine months of 2011, the accountant of OOO Alpha increased by 72,000 rubles. value of the indicator of line 2220 "Administrative expenses". This led to the need to reduce by the same amount the indicators of line 2200 "Profit (loss) from sales", line 2300 "Profit (loss) before tax", line 2400 "Net profit (loss)". In the reference section of the profit and loss statement, it was also necessary to reduce the value of the indicator of line 2500 "The cumulative financial result of the period". All these adjustments were reflected in the last column "For 9 months 2010" of the income statement.

On the basis of clause 1 of Art. 54 of the Tax Code of the Russian Federation, OOO Alfa decided not to draw up a revised income tax return, since an error in 2010 led to an overpayment of income tax to the budget. V tax accounting accountant LLC "Alpha" in May 2011 included the amount of 72,000 rubles. in the composition of indirect costs (as labor costs) and reflected it in line 040 of Appendix No. 2 to sheet 02 of the declaration for the half year of 2011.

As a result, the correction of last year's mistake led to a decrease in the tax base for income tax for the current 2011. In accounting, the financial result of the reporting year did not decrease by this amount of expenses. Therefore, the accountant of LLC Alfa applied the rules of PBU 18/02 and reflected the following entry in the accounting:

Debit 68, subaccount "Permanent tax liabilities", Credit 99

• RUB 14,400 (72,000 rubles x 20%) - PNR was charged for the amount of the difference between the data of the accounting and tax accounting.

Note. If in 2011 an error is identified for 2009, the accountant will have to recalculate the comparative figures in the current financial statements for both 2009 and 2010. Indeed, in the new forms of financial statements, approved by Order N 66n, comparative indicators for the two previous years are provided.

The accountant needs to be extremely careful when recalculating the comparative indicators of the financial statements for the current reporting period due to the correction of errors from previous years. Some errors affect many indicators of the accounting statements. The task of an accountant is to identify and correct all the consequences of a mistake. for instance, an error in writing off materials to production costs may lead to the need to recalculate the balances of warehouse stocks, estimate the balances of work in progress, the cost finished products, cost of sales. Ultimately, the recalculation of indicators that were affected by the correction of the error of previous years always leads to a change in the indicators of retained earnings (uncovered loss), net profit and the aggregate financial result both for prior years and for the current reporting period.

What to do 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? In this case, the opening balances on the corresponding items of assets, liabilities and equity at the beginning of the earliest reporting period presented are subject to adjustment. Such a rule is contained in clause 11 of PBU 22/2010.

It happens that an accountant cannot determine the impact of a material error on one or more of the previous reporting periods presented in the financial statements. In this case, the entity shall adjust the opening balance for the related assets, liabilities and equity at the beginning of the earliest recalculated period. This is prescribed by clause 12 of PBU 22/2010.

Note. 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 organization should adjust the opening balance for the corresponding items of assets, liabilities and capital at the beginning of the earliest of the periods for which recalculation is possible (paragraph 12 of PBU 22 / 2010).

So that the organization does not have the temptation to unreasonably declare that it is not able to recalculate the comparative indicators for the previous reporting years reflected in the current financial statements, the conditions for recognizing such a situation are separately fixed in PBU 22/2010.

So, based on clause 13 of PBU 22/2010, the impact of a material error on the previous reporting period cannot be determined in the following situations:

• if complex and (or) numerous calculations are required, during the performance of which it is impossible to extract information indicating the circumstances that existed at the date of the error;
• it is necessary to use the information obtained after the date of approval of the financial statements for such a previous reporting period.

In the event that one of these conditions is met, the organization has the right not to restate the comparative figures of the financial statements. But this applies only to indicators for those reporting years for which recalculation is impossible. If it is possible to recalculate comparative figures for later reporting periods presented in the current financial statements, then they need to be recalculated.

It should be borne in mind that if a significant error is found for the years preceding the previous one, it does not matter in which month of the current year this error was found. The financial statements for these years have long been drawn up and approved.

This means that such an error will have to be corrected in the current period by entries on the corresponding accounting accounts in correspondence with the account of retained earnings (uncovered loss). And after that, you need to recalculate the comparative indicators of the financial statements for the earliest of the reporting periods presented in it.

Example 5... JSC "Salut" in February 2011 received an act of reconciliation of settlements from the supplier. When checking the document, it turned out that the organization's accountant mistakenly did not reflect in the accounting the cost of services performed by the supplier in November 2008 (in the amount of 30,000 rubles excluding VAT) and in August 2010 (in the amount of 25,000 rubles excluding VAT). According to the accounting policy of the organization, errors related to accounts receivable and payable are recognized as material, regardless of the amount.

Since the financial statements of the organization for 2010 had not yet been signed, the accountant of Salyut OJSC corrected last year's mistake by making the following adjustment entry for December 2010:

Debit 26 Credit 76

• RUB 25,000 - reflects the cost of the provider's services for August 2010

In the annual financial statements for 2010, the financial result was formed taking into account the corrected error for this year.

To eliminate the inaccuracy for 2008, the accountant of Salyut OJSC made an adjustment entry and dated it to February 2011 (the day the error was discovered):

Debit 84, subaccount "Retained earnings (uncovered loss) for 2008", Credit 76

• RUB 30,000 - reflects the cost of the provider's services for November 2008

When drawing up the financial statements for the I quarter of 2011, the accountant of Salut OJSC adjusted the comparative figures for 2009 and 2010 in it. (as the earliest reported periods). In this case, the balance sheet in the amount of 30,000 rubles. increased indicators of lines 1520 " Accounts payable"and 1500" Total for section V ". At the same time, the indicators of lines 1370" Retained earnings (uncovered loss) "and 1300" Total for section III "were reduced by the same amount. • on the balance sheet liabilities have not changed.

Now let's figure out how an insignificant error for the previous reporting year, revealed after the date of signing the financial statements for this year, is corrected. This error is corrected by entries on the corresponding accounting accounts in the month of the reporting year in which it was detected. Profit or loss arising from the correction of this error is reflected in other income or expenses of the current reporting period. Such a rule for minor errors is written in clause 14 of PBU 22/2010. Since the amounts of gains and losses of previous years resulting from the correction of immaterial errors are written off to other income and expenses current period, they are thereby taken into account when forming the financial result of the current reporting period. Therefore, when minor errors are corrected, comparative indicators for previous reporting years are not adjusted in the current financial statements.

Note. The procedure for correcting minor errors identified after the date of signing the annual financial statements fully coincides with the rules for correcting errors of previous years that were applied before the appearance of PBU 22/2010.

Example 6... For example, in mid-March 2011, the accountant of ZAO Kvadrat discovered an error for October 2010. The accounting did not reflect the write-off of office supplies in the amount of 120 rubles. (excluding VAT). The financial statements of the organization for 2010 were drawn up, signed, presented in tax office but not yet approved by shareholders. According to the accounting policy, an error for previous years in this amount is recognized as immaterial. Based on clause 14 of PBU 22/2010, the following entry was made in the accounting records of ZAO "Kvadrat" in March 2011:

Debit 91, subaccount "Losses of past years", Credit 10, subaccount "Stationery",

• 120 RUB - written off the cost of stationery transferred for use to employees in October 2010.

The signed financial statements for 2010 have not been revised. In the financial statements for the 1st quarter of 2011, comparative figures for 2010 have not been restated.

Some relaxation of requirements for small businesses

For small businesses, with the exception of publicly placed issuers valuable papers, an exception was recently made to the general rule. According to clause 8 of the Order of the Ministry of Finance of Russia dated 08.11.2010 N 144n, clause 9 of PBU 22/2010 was supplemented with a new paragraph. So, small businesses have the right to correct a material error for the previous reporting year, revealed after the approval of the financial statements for this year, in a simplified manner - according to the rules established by paragraph 14 of PBU 22/2010 for minor errors, without retrospective recalculation.

Note. The criteria for small businesses and the procedure for their application are given in Art. 4 of the Federal Law of 24.07.2007 N 209-FZ "On the development of small and medium-sized businesses in the Russian Federation". According to the Decree of the Government of Russia of 22.07.2008 N 556 at the present time limit size proceeds from the sale of goods (works, services) for the previous year, excluding VAT, calculated according to tax accounting data, for small businesses is no more than 400 million rubles.

This means that enterprises belonging to small businesses can correct any mistakes of previous years, regardless of their magnitude in the reporting period when they discovered this inaccuracy. Moreover, they need to reflect the accounting records on the corresponding accounting accounts in correspondence with account 91 "Other income and expenses". And comparative indicators for previous years in the financial statements of the current reporting period for small businesses need not be recalculated, even if the error turns out to be significant. In order to use a simplified method of correcting significant mistakes of past years, a small business should fix the named provision in the accounting policy.

Please note: concession to small businesses when applying the norms of PBU 22/2010 is provided only in relation to errors of previous years, revealed after the approval of the annual financial statements for the year in which the error was made. For other errors, they should apply general rules named accounting standard. Therefore, if an error for the previous reporting year is revealed after the signing of the annual financial statements, but before the date of its approval by the owners (members of the company, shareholders), the small business entity must correct it in the generally established manner. That is, in December of the reporting year, corrective entries must be made on the relevant accounting accounts, the indicators of the annual financial statements must be revised and presented to all users to whom the initial annual statements were submitted earlier.

Explanatory note

In the notes to the financial statements, the organization must disclose information about material errors that were corrected in this reporting period. This is stated in clauses 15 and 16 of PBU 22/2010. Please note: this applies not only to annual, but also to interim financial statements. When disclosing information about material errors, the organization should describe the nature of the error, give the amount of the adjustment for each item in the financial statements for each previous period and the amount of the adjustment of the opening balance of the earliest of the reporting periods presented.

Note. If an entity is required to disclose earnings per share, it must also indicate the amount of the adjustment for basic and diluted earnings (loss) per share.

If the organization was unable to determine the impact of a material error on one or more previous reporting periods presented in the financial statements, then the reasons for this should be disclosed in the explanatory note to the annual financial statements. In addition, it is necessary to provide a description of the method for reflecting the correction of a material error in the organization's financial statements and indicate the period from which the organization was able to make the corrections.

M. S. Polyakova

Journal Expert

"Russian tax courier"

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 Resolution of the Government of the Russian Federation dated 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

APPROVED BY
By order of the Ministry of Finance
Russian Federation
from 28.06.2010 N 63n

ACCOUNTING REGULATIONS "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 institutions and state (municipal) institutions) (hereinafter - organizations). (as amended by the Order of the Ministry of Finance of the Russian Federation of 25.10.2010 N 132n)

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 significant 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 financial statements compiled for this reporting period. The organization determines the materiality of the error independently, based on both the size and the nature of the corresponding article (articles) of the financial statements.

II. Error Correction Procedure

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 on the corresponding accounting accounts for December of the reporting year (the year for which the annual financial statements are prepared).

7. 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 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 these Regulations. 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 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, 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, unless 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 in 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 methods of accounting, including simplified accounting (financial) statements, may have the right to correct a significant error of the previous reporting year, revealed after the approval of the financial statements for that year, in the manner prescribed by paragraph 14 of this Regulation, without retrospective recalculation. (as amended by the Orders of the Ministry of Finance of the Russian Federation of 08.11.2010 N 144n, of 27.04.2012 N 55n, of 06.04.2015 N 57n)

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 shall not be subject to revision, replacement and re-submission to the 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 on the corresponding items of assets, liabilities and capital 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 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.

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 is reflected in other income or expenses of the current 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 according to 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 presented reporting periods.

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 provides a description of 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.