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How to determine the gain or loss on account

How to determine the gain or loss on account

Every business enterprise is an activity aimed at obtaining financial gain.

Nevertheless, the bad periods occur periodically, which must be considered in order to avoid similar situations in the future.

Determining the gain or loss on account accountant engaged in the organization.

You will need

  • - The balance sheet in the form №1-
  • - A report on loss and profit in the form №2.

instructions

1

Use the financial statements for thesummarizing the results of the financial activities of the enterprise. Form №1 balance includes the total amount of the accumulated profit or uncovered loss in the current period, and the form №2 - the data required for the formation of financial results. Also №2 form allows you to see various types of income and calculate the profitability of the organization.

2

Explore the 1370 lines and 2400 form №1balance sheet in order to obtain basic information about the profit and loss account of the enterprise. If the rate at the balance sheet date exceeds the value at the beginning of the year, it says that the company has entered into profit. For accuracy it is recommended to check the data, at least one working year or five reporting dates. If the retained earnings figure is constantly increasing, which means you have chosen a competent revenue and expenditure management. On the contrary, says the decline of the loss of activity, even if it is a positive number.

3

Make an aggregated report as a table,to compile information on the profit and loss account. Vertical list the relevant lines of the report, and the horizontal - considered choice. If there is a decline on the basis of at least one of the periods under review, it is necessary to analyze the formation of income at each stage to determine the source of the loss.

4

Evaluate all other revenue, including coming fromother organizations - departments and branches and interest receivable. Throw them to the resulting value of the sales profit by subtracting interest expense and other expenses to profit before tax. To determine the net loss or gain, subtract from the profit before tax Current tax and specified tax penalties. If necessary, make sure the changes permanent financial assets and liabilities.

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