An estimated liability is an obligation of an organization with an uncertain amount and (or) deadline.

It may occur may occur:

a) from the norms of legislative and other regulatory legal acts, court decisions, contracts;

b) as a result of actions by the organization that, because of established past practice or statements by the organization, indicate to others that the organization accepts certain responsibilities and, as a result, such persons have a reasonable expectation that the organization will fulfill such responsibilities.

In accordance with PBU 8/2010 “Estimated liabilities, contingent liabilities and contingent assets”, approved by Order of the Ministry of Finance of Russia dated December 13, 2010 No. 167n, an estimated liability is recognized in accounting if the following conditions are simultaneously met:

a) the organization has an obligation resulting from past events in its economic life, the fulfillment of which the organization cannot avoid. In the event that an organization has doubts about the existence of such an obligation, the organization recognizes a provision if, as a result of an analysis of all circumstances and conditions, including the opinions of experts, it is more likely than not that the obligation exists;

b) a decrease in the economic benefits of the organization necessary to fulfill the estimated liability is likely;

c) the amount of the estimated liability can be reasonably estimated.

Provisions for future expenses are recognized only when all of these conditions are met.

A reduction in the economic benefits of an entity necessary to satisfy an obligation is considered probable if it is more likely than not that such a reduction will occur. The probability of a decrease in economic benefits is assessed for each liability separately, except for cases where, as of the reporting date, there are several liabilities of the same nature and the uncertainty generated by them, which the organization assesses in the aggregate. At the same time, despite the fact that a decrease in the economic benefits of the organization for each individual obligation may be unlikely, a decrease in economic benefits as a result of the fulfillment of the entire set of obligations may be quite probable.

Estimated liabilities are reflected in the account for reserves for future expenses (96). When recognizing an estimated liability, depending on its nature, the amount of the estimated liability is included in expenses for ordinary activities or other expenses or is included in the cost of the asset.

A contingent liability arises for an organization as a result of past events in its economic life, when the existence of an obligation for the organization at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the organization.

A contingent asset arises for an organization as a result of past events in its economic life, when the existence of an asset at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the organization.

In accordance with the principle of prudence, contingent assets are not reflected either in accounting or in the financial statements for the reporting period (in order not to overstate financial results), and information about them is disclosed in the explanatory note to the financial statements of the organization if there is a high or a very high probability that the organization will receive them.

Contingent liabilities and contingent assets are not recognized in accounting.

An estimated liability is recognized in the organization's accounting records in an amount that reflects the most reliable monetary estimate of the costs necessary to settle this liability. The most reliable estimate of expenses is the amount required directly to fulfill (repay) the obligation as of the reporting date or to transfer the obligation to another person as of the reporting date.

For each accounting liability recognized in the financial statements, the organization discloses, if material, at least the following information:

a) the amount at which the estimated liability is reflected in the organization’s balance sheet at the beginning and end of the reporting period;

b) the amount of the estimated liability recognized in the reporting period;

c) the amount of the estimated liability written off to reflect expenses or recognize accounts payable in the reporting period;

d) the amount of an estimated liability written off in the reporting period due to its excess or termination of fulfillment of the conditions for recognition of an estimated liability;

e) an increase in the amount of the estimated liability due to an increase in its present value for the reporting period (interest);

f) the nature of the obligation and the expected period of its fulfillment;

g) uncertainties that exist regarding the deadline for fulfillment and (or) the amount of the estimated liability;

h) expected amounts of counterclaims or amounts of claims against third parties for reimbursement of expenses that the organization will incur in fulfilling the obligation, as well as assets recognized for such claims.

If, as of the reporting date, a decrease in the economic benefits of the organization due to a contingent liability is unlikely, the organization may not disclose this information.

Information about estimated liabilities and contingent liabilities may be disclosed by their homogeneous groups (for example, estimated liabilities in connection with guarantees issued by the organization, legal proceedings).

Control questions

1. What information does the statement of changes in equity contain?

2. Why, when preparing the Statement of Changes in Capital, information must be disclosed for at least two adjacent years?

3. What does the term “net assets” mean and what is the economic content of this indicator?

4. What information does the cash flow statement contain?

5. Explain the reasons for the differences in the indicators of the Income Statement and the Cash Flow Statement.

6. For what types of activities are cash flows calculated?

7. What are the principles of preparing a cash flow statement using direct and indirect methods?

8. State the benefits that can be obtained from cash forecasting. What problems arise when compiling it?

9. What is meant by cash equivalent?

10. For what purpose is Form No. 5 “Appendix to the Balance Sheet” drawn up?

11. What are the main sections of Form No. 5 “Appendix to the Balance Sheet”?

12. What is meant by Explanatory Note?

13. What are the functions of explanatory information in financial statements?

14. What is the difference between the data shown in the balance sheet under the item “Fixed assets” and in the appendix to the balance sheet in the section “Fixed assets”?

15. Are changes in the organization’s accounting policies subject to disclosure in the explanatory note?

16. What types of audit report are there?

17. Describe situations that can lead to distortion of financial statements.

18. Explain the procedure for correcting accounting errors.

19. Define an event that is older than the reporting date.

20. How are events after the reporting date assessed?

21. What are conditional facts of economic activity?

Related information.

In accordance with PBU 8/2010, approved by Order of the Ministry of Finance of the Russian Federation of December 13, 2010 No. 167n, an obligation will be considered estimated, the size or duration of which cannot be determined at the moment. For its recognition in accounting, the following conditions must be present: the company has obligations arising from its business activities that it cannot fail to fulfill, and at the same time there are probable costs, the amount of which can be reasonably estimated.

By whom and in what situations does PBU 8/2010 not apply? The legislator made an exception for credit institutions, small businesses (only if they are not issuers of publicly offered securities), reserve capital and valuation reserves. In addition, the new rules do not apply to “unclosed” contracts, where at least one party has not fulfilled its obligations, except for obviously unprofitable ones. These include contracts whose costs exceed expected revenues. However, if the agreement can be terminated unilaterally without significant sanctions, then the agreement will not be considered deliberately unprofitable. In a situation where an accountant cannot independently determine whether an obligation is an estimated liability or not, you can resort to the help of experts.

Decide on size

The amount of the estimated liability is determined on the basis of available documents and experience in a similar situation, taking into account the risks. If necessary, you can contact appraisers. When calculating, mathematical formulas take into account probabilistic factors: if you need to choose from several values, then the weighted average is taken. And if from an interval of values, then the arithmetic mean.

To reflect the estimated liability in accounting, account 96 “Reserves for future expenses” is used. When recognizing a liability, depending on its nature, the amount is included in expenses for ordinary activities, other expenses, or is included in the value of the asset (clause 8 of PBU 8/2010).

Separately, PBU 8/2010 stipulates the reasons why an obligation may arise. These include: a new legal norm, a court decision, a signed contract, or actions by a company under which it assumes certain obligations and guarantees their fulfillment. Let's look at these situations using examples.

Power of law

First, let's consider the estimated liabilities arising from the norms of legislation or other regulatory legal acts.

The Vasilek company is a member of a self-regulatory organization. The regulatory provisions of this SRO establish that every 3 years, mandatory quality control of the work of all organizations that have joined it is carried out, for which a payment of 100 thousand rubles is charged. In January 2011, Vasilek was notified of a scheduled inspection scheduled for September. This means that immediately, in January, the company forms an estimated liability in the amount of 100 thousand rubles, since the likelihood of paying the contribution in the future is undoubted.

Vacation is just around the corner

Vacation pay is also an estimated liability. But it is important to determine the procedure for their calculation in the company’s accounting policies. According to Elena Khailova, head of the quality control department of the Audit Department of LLC, the calculation can be carried out in two ways: based on the number of unused vacation days at the end of each month: (average daily salary + average daily salary * insurance premium rate) * number of vacation days to which the employee is entitled at the end of the month .

Or reflect the obligation at the beginning of the year for the entire amount of vacation pay for the year: (average daily salary + average daily salary * insurance premium rate) * 28 days of vacation.

Example

Ivanov I.I. has been working in the Buttercup organization since May 5, 2010 with a salary of 20,000 rubles per month (average daily salary is 680 rubles). As of January 1, 2011, the employee did not use his vacation. Let's calculate the estimated liability for this date: (680 + 680* 34%) * 28 = 25,514 rubles.

The trial is underway

As agreed

When concluding contracts, special attention should be paid to possible sanctions (this could be a fine, penalty or penalty) that threaten the company if the terms of the signed document are not properly fulfilled.

According to the terms of the agreement, the Mimosa company must supply the Gvozdika company with exclusive goods worth 100 thousand rubles. But after signing the contract, Mimosa was informed that this type of product was discontinued. According to the terms of the contract, for failure to fulfill obligations within 6 months, a fine of 50 percent of the total cost of the goods is provided. An estimated liability is formed in the Mimosa company's accounting records in the amount of 50 thousand rubles at the moment when it became obvious that the likelihood of paying fines is more than high.

Another example: The Tulip organization is engaged in the wholesale sale of cell phones. In August 2011, she entered into a contract with the Violet company for the amount of 300 thousand rubles, but some of the products turned out to be defective. The amount of the claim made by Violet was 150 thousand rubles. Under the terms of the contract with the phone manufacturer, if a defect is discovered, the manufacturing company undertakes to reimburse the cost of the defective product and pay a fine of 10 percent. In November, the Tulip organization received confirmation from the manufacturer of its readiness to pay compensation and a fine. As of December 31, 2011, the Tyulpan organization should recognize an estimated liability in the amount of 150 thousand rubles and an asset in the amount of 150 thousand rubles, since receiving compensation from the manufacturer is more than likely.

On business...

The occurrence of an estimated liability may be a consequence of the company’s actions, indicating that the company assumes certain responsibilities. In particular, this may be due to the planned restructuring of the company.

For example, the founders of Kolokolchik LLC decided to liquidate the organization, and approved a detailed plan for its implementation. The HR department has determined the number of employees who will be paid compensation in connection with the severance of their employment relationship. The accounting department has calculated all the necessary expenses.

Obligations in respect of a pending liquidation exist because the entity has obligations arising from past events in its operations that it cannot avoid.

Thus, we can say that almost all companies, to one degree or another, have to turn to the new PBU. Of course, except for the “beneficiaries” directly provided for in the regulations.

Elizaveta Pogosyan, expert at Calculation magazine

The Russian Ministry of Finance is systematically working to improve the regulatory framework for accounting. Order of the Ministry of Finance of Russia dated December 13, 2010 No. 167n approved a new edition of the eighth standard. N.N. Tomilo, Ministry of Finance of Russia, comments on PBU 8/2010 “Estimated liabilities, contingent liabilities and contingent assets.”

dated June 30, 2004 No. 329PBU 8/01

PBU 8/2010 dated December 13, 2010 No. 167nPBU 8/01

PBU 8/2010

PBU 8/01, PBU 8/2010

PBU 8/2010 dated July 24, 2007 No. 209-FZ

PBU 8/2010

PBU 8/2010 does not apply to:

PBU 8/2010 Appendix 1 to PBU 8/2010;
PBU 5/01 PBU 19/02
PBU 18/02

PBU 8/2010

In 2010, 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 Russia (approved by Decree of the Government of the Russian Federation dated June 30, 2004 No. 329), the Ministry of Finance of Russia revised PBU 8/01 “Conventional facts of economic activities". In August 2010, the draft PBU 8/2010 was posted on the official website of the Russian Ministry of Finance on the Internet and is available for review and for interested parties to send comments and suggestions.

PBU 8/2010 “Estimated liabilities, contingent liabilities and contingent assets” (hereinafter referred to as PBU 8/2010) was approved by order of the Ministry of Finance of Russia dated December 13, 2010 No. 167n (registered with the Ministry of Justice of Russia on February 3, 2011 No. 19691). When revising PBU 8/01 “Conditional facts of economic activity”, the content of the document changed significantly.

PBU 8/2010 should be applied by organizations (with the exception of credit institutions) that are legal entities under the laws of the Russian Federation.

Please note that, unlike the previously existing procedure established by PBU 8/01, PBU 8/2010 should also be applied by non-profit organizations.

A special simplified procedure for applying PBU 8/2010 is established only for small businesses. The criteria for recognizing small businesses are established by Federal Law No. 209-FZ of July 24, 2007 “On the development of small and medium-sized businesses in the Russian Federation,” which provides for the possibility of simplified accounting and preparation of financial statements.

PBU 8/2010 may not be applied by these entities, with the exception of small businesses - issuers of publicly offered securities.

PBU 8/2010 does not apply to:

contracts under which, as of the reporting date, at least one party to the contract has not fully fulfilled its obligations, with the exception of the so-called obviously unprofitable contracts. In accordance with PBU 8/2010, such contracts are understood as contracts, the inevitable costs of execution of which exceed the proceeds expected from their execution. In this case, the contract is not recognized as obviously unprofitable if its execution can be terminated by the organization unilaterally without significant sanctions. An example of obviously unprofitable contracts is given in Appendix 1 to PBU 8/2010;
reserve capital, reserves formed from the organization’s retained earnings;
valuation reserves. Valuation reserves include reserves for a decrease in the value of inventories, for doubtful debts, and for the depreciation of investments in securities. The rules for the formation of these reserves are established by PBU 5/01 “Accounting for inventories”, the Regulations on accounting and financial reporting in the Russian Federation and PBU 19/02 “Accounting for financial investments”, respectively;
amounts that, in accordance with PBU 18/02 “Accounting for calculations of corporate income tax,” affect the amount of corporate income tax payable in the next reporting period or in subsequent reporting periods.

Contingent asset and contingent liability

In addition to estimated liabilities, PBU 8/2010 establishes such categories as contingent assets and contingent liabilities.

Contingent asset arises for an organization as a result of past events in its economic life, when the existence of an asset at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the organization.

Contingent liability arises for an organization as a result of past events in its economic life, when the existence of an obligation for the organization at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the organization.

Contingent liabilities also include an estimated liability existing at the reporting date that is not recognized in accounting due to failure to meet such conditions as:

a decrease in the economic benefits of the organization necessary to fulfill the estimated liability is likely;
the amount of the provision can be reasonably estimated.

The part of the obligation jointly with other persons, in respect of which a decrease in the economic benefits of the organization is not probable, relates to contingent liabilities.

Contingent liabilities and contingent assets are not recognized in accounting. Information about them is disclosed in the financial statements in accordance with PBU 8/2010. Based on the available facts of the economic life of the organization, an analysis of existing practice in relation to the fulfillment of similar obligations, as well as, if necessary, expert opinions, the organization determines the amount of the estimated liability. In this case, the organization must document the validity of such an assessment.

In this case, the amount of the estimated liability must represent the most reliable monetary estimate of the expenses necessary for settlements on this obligation, that is, the amount necessary directly to fulfill (repay) the obligation or to transfer the obligation to another person as of the reporting date.

When determining the amount of the provision, an organization must take into account the following:

if the amount of the estimated liability is determined by selecting from a set of values, then the weighted average value is taken as such value, which is calculated as the average of the products of each value and its probability;
if the amount of the estimated liability is determined by selecting from an interval of values, and the probability of each value in the interval is equal, then the arithmetic mean of the largest and smallest values of the interval is taken as such a value.

In addition, when determining the amount of an estimated liability, the consequences of events after the reporting date, the risks and uncertainties inherent in this estimated liability, and future fairly probable events that may affect the amount of the estimated liability are taken into account.

When determining the amount of the estimated liability, the amount of decrease or increase in corporate income tax determined in accordance with PBU 18/02, expected proceeds from the sale of assets (fixed assets, intangible assets, products, goods, etc.) related to the recognized asset are not taken into account. estimated liability, expected amounts of counterclaims or amounts of claims against other persons for reimbursement of expenses that the organization may incur in fulfilling this estimated liability.

If the organization has confidence in the receipt of economic benefits from counterclaims or claims to other persons when the organization fulfills the corresponding estimated liability accepted for accounting, such claims are recognized in accounting as an independent asset. The amount of such an asset should not exceed the amount of the corresponding estimated liability.

For example, the expected compensation from an insurance company may be recognized as such an asset if the events that gave rise to the estimated liability are recognized as an insured event.

In the organization's balance sheet, the amount of a recognized provision is not reduced by the amount of such an asset.

In the organization's profit and loss statement, expenses reflected when recognizing estimated liabilities are presented minus income recognized when accounting for expected proceeds from counterclaims and claims against other persons as an asset.

If the expected period for fulfillment of an estimated liability exceeds 12 months after the reporting date or a shorter period established by the organization in its accounting policies, such an estimated liability is assessed at a value determined by discounting its value, which is hereinafter called the present value.

The discount rate used by the organization should reflect the conditions existing in the financial market, as well as the risks specific to the obligation underlying the recognized estimated liability, and should not reflect the amount of decrease or increase in the organization’s income tax determined in accordance with PBU 18/02, and also risks and uncertainties that the entity has already taken into account when estimating future cash payments caused by the provision.

An increase in the amount of an estimated liability due to an increase in its present value on subsequent reporting dates as the deadline approaches (interest) is recognized as another expense of the organization. When actual calculations are made for recognized estimated liabilities during the reporting year, the organization’s accounting records reflect the amount of the organization’s costs associated with the organization’s fulfillment of these obligations, or the corresponding accounts payable in correspondence with the debit of account 96 “Reserves for future expenses.”

If the amount of the recognized estimated liability is insufficient, the organization's costs to repay the liability are reflected in the organization's accounting records in the general manner.

In case of excess of the amount of the recognized estimated liability or in case of termination of fulfillment of the conditions for recognition of the estimated liability established by PBU 8/2010, the unused amount of the estimated liability is written off and allocated to other income of the organization, with the exception of the situation when it comes to the repayment of homogeneous estimated liabilities arising from recurring business transactions of the organization's normal activities. When repaying such homogeneous liabilities, previously recognized excess amounts are applied to subsequent estimated liabilities of the same type immediately upon their recognition (without writing off previously recognized excess amounts to other income of the organization).

An example of such obligations could be estimated obligations in connection with upcoming vacations.

The validity of recognition and the amount of the estimated liability are subject to verification by the organization at the end of the reporting year, as well as upon the occurrence of new events related to this liability. Based on the results of such a check, the amount of the estimated liability may be:

increased or decreased upon receipt of additional information that allows the amount of the estimated liability to be clarified;
remain unchanged;
written off in full upon receipt of additional information indicating that the conditions for recognizing the provision have ceased to be met.

PBU 8/2010 Disclosure of information in financial statements establishes the following requirements for the disclosure of information about estimated liabilities, contingent liabilities and contingent assets.

For each estimated liability recognized in the accounting records, if material, at least the following information is disclosed:

the amount at which the estimated liability is reflected in the organization’s balance sheet at the beginning and end of the reporting period;
the amount of the provision recognized in the reporting period;
the amount of the estimated liability written off to reflect expenses or recognize accounts payable in the reporting period;
the amount of an estimated liability written off in the reporting period due to its excess or termination of fulfillment of the conditions for recognition of an estimated liability;
increase in the amount of the estimated liability due to an increase in its present value for the reporting period (interest);
the nature of the obligation and the expected period of its fulfillment;
uncertainties existing regarding the deadline for fulfillment and (or) the amount of the estimated liability;
the expected amounts of counterclaims or the amount of claims against third parties for reimbursement of expenses that the organization will incur in fulfilling the obligation, as well as assets recognized for such claims.

For each contingent liability, the financial statements disclose at least the following information:

the nature of the contingent liability;
the estimated value or range of estimated values of the contingent liability, if determinable;
uncertainties existing regarding the deadline for fulfillment and (or) the amount of the obligation;
the possibility of proceeds as a result of counterclaims or claims against third parties to reimburse expenses that the organization will incur in fulfilling the obligation.

If, as of the reporting date, a decrease in the economic benefits of the organization due to a contingent liability is unlikely, the organization may not disclose this information.

If a provision and a contingent liability arose as a result of the same economic facts, the relationship between the corresponding provision and the contingent liability must be disclosed.

If it is probable that the economic benefits will flow from a contingent asset, the entity shall disclose at the end of the reporting period the nature of the contingent asset and its estimated value or range of estimated values, if determinable.

In exceptional cases, when the disclosure of information about estimated liabilities, contingent liabilities and contingent assets to the extent provided for in these Regulations causes or may cause damage to the organization in the course of resolving the consequences of the underlying obligations and facts, the organization may not disclose such information.

In this case, the entity must indicate the general nature of the related provision, contingent liability or contingent asset and the reasons why more detailed information is not disclosed.

Estimated liability

An estimated liability is an obligation of an organization with an uncertain amount and (or) deadline.

Estimated liabilities may arise in the economic life of an organization as a result of various factors - norms of legislation and other regulatory legal acts, court decisions, contracts; as a result of actions by the organization that, due to established past practice or statements by the organization, indicate to others that the organization accepts certain responsibilities and, as a result, such persons have a reasonable expectation that the organization will fulfill such responsibilities.

For example, estimated liabilities may arise due to the fact that during the reporting period an accident occurred in the organization, resulting in environmental pollution, and as of the reporting date the organization is negotiating with the authorities regarding compensation for the damage caused; in case of involvement in legal proceedings in connection with a claim by buyers regarding the quality of its products, etc.

PBU 8/2010 establishes that an estimated liability is recognized in accounting if the following conditions are simultaneously met:

the organization has an obligation resulting from past events in its economic life, the fulfillment of which the organization cannot avoid. In the event that an organization has doubts about the existence of such an obligation, the organization recognizes a provision if, as a result of an analysis of all circumstances and conditions, including the opinions of experts, it is more likely than not that the obligation exists;
a decrease in the economic benefits of the organization necessary to fulfill the provision is likely.

Please note that PBU 8/01 established four degrees of probability of consequences of conditional facts of economic activity: very high (95-100%), high (50-95%), medium (5-50%) and low (0-5). %). These estimates did not involve precise quantitative measures of probability and were intended to provide a general understanding of the various levels of probability used in accounting and reporting.

The new edition uses the “more likely than not” approach to assess probability.

The probability of a decrease in economic benefits is assessed for each liability separately, except for cases where, as of the reporting date, there are several liabilities of the same nature and the uncertainty generated by them, which the organization assesses in the aggregate. At the same time, despite the fact that a decrease in the economic benefits of the organization for each individual obligation may be unlikely, a decrease in economic benefits as a result of the fulfillment of the entire set of obligations may be quite probable.

Example

The organization sells electrical goods with a warranty service obligation for one year from the date of sale. With respect to the sale of each individual unit of goods, a decrease in the economic benefits of the organization due to its return as defective and beyond repair or due to the costs of repairing it is not probable. At the same time, calculations based on the organization's past experience show that there is a likelihood of approximately 3% of goods sold being returned as unrepairable, and another 11% will require additional costs for warranty repairs. In this regard, the organization evaluates the estimated liability arising from the sale of electrical goods with the obligation to provide warranty service, in relation to the entire set of goods.

At each reporting date, the organization must analyze the conditions for recognizing an estimated liability associated with past events in its economic life. This is necessary due to the fact that these conditions may not be met at one reporting date, and are met as of subsequent reporting dates.

For example, in October 2010, the organization caused environmental pollution, but the amount of damage caused as of December 31, 2010 was calculated and agreed upon with the authorities, i.e., as of the reporting date - December 31, 2010, not all conditions for recognizing an estimated liability were met , and therefore it could not be recognized in accounting. However, at the reporting date the organization must recognize a contingent liability in accordance with PBU 8/2010. Upon final determination and agreement of the amount of compensation in 2011, the organization will be able to recognize an estimated liability in accounting.

Additional requirements are established by PBU 8/2010 regarding the recognition of estimated liabilities in connection with the upcoming restructuring of the organization's activities. Restructuring the activities of an organization means the implementation of a program of action planned and controlled by the management of the organization, which will significantly change the directions of the organization’s activities, the volume of business transactions or the methods of their implementation.

For example, if an organization plans to move from retail to wholesale, open a new line of business, close its retail stores and sell products online.

Obligations for the upcoming restructuring of the organization’s activities are recognized as existing at the reporting date, subject to the simultaneous observance of the following conditions:

1. The organization has a detailed, duly approved plan for the upcoming restructuring of its activities, which defines, at a minimum:

the activities (or part of the activities) of the organization affected by the upcoming restructuring and the places of its implementation;
structural divisions, functions and approximate number of employees of the organization who will be paid compensation in connection with the termination of employment relations with them;
expenses necessary for the upcoming restructuring of the organization’s activities;
time of commencement of execution of the plan for the upcoming restructuring of the organization’s activities.

2. The organization, through its actions and (or) statements, has created reasonable expectations among persons whose rights are affected by the upcoming restructuring of the organization’s activities that the restructuring plan will be implemented in the near future.

In accounting, estimated liabilities are reflected in account 96 “Reserves for future expenses.”

When recognizing an estimated liability, depending on its nature, the amount of the estimated liability is included in expenses for ordinary activities or other expenses or is included in the cost of the asset. Thus, the following entries can be made in accounting:

Debit 20 "Main production", 23 "Auxiliary production", 25 "General production expenses" 26 "General business expenses", 29 "Service production and facilities", 44 "Sales expenses", 91 "Other income and expenses", 07 "Equipment for installation", 08 "Investments in non-current assets", etc. Credit 96 "Reserves for future expenses", separate sub-accounts.

If an organization has a joint and several obligation with other persons, an estimated liability is recognized to the extent that there is a likelihood of a decrease in the economic benefits of the organization, subject to all conditions for recognition of an estimated liability. For example, in accordance with Article 1489 of the Civil Code of the Russian Federation, for the requirements imposed on the licensee as a manufacturer of goods, the licensee and licensor are jointly and severally liable and in this regard, if an assessment obligation arises, subject to compliance with the general conditions established by PBU 8/2010, it is recognized by both the licensee and from the licensor.

Estimated liabilities in relation to expected losses from the activities of the organization as a whole, or from certain types or regions of its activities, divisions, types of products (works, services) and other factors are not recognized in accounting.

For example, an organization assumes that the production of household electrical appliances as one of its activities in 2011 will be unprofitable. Estimated liabilities in this regard are not recognized in accounting.

COMPARISON OF PBU 8/2010 “Provisions, contingent liabilities and contingent assets” and IFRS 37 “Provisions, contingent liabilities and assets”

From January 1, 2011, instead of PBU 8/01 “Contingent facts of economic activity”, PBU 8/2010 “Estimated liabilities, contingent liabilities and contingent assets” is applied.

The organization's reporting is prepared for the reporting period on an accrual basis from the beginning of the reporting period, which means that such reporting must be prepared according to the same accounting principles applied from the beginning of this period. Since PBU 8/2010 was officially published only on February 16, 2011 and comes into force much later than the beginning of the reporting year, organizations need to make changes to the accounting policy for 2011, bring it into compliance with the requirements of PBU 8/2010 in accordance with paragraph. 12 PBU 1/2008 and apply from January 1, 2011.

If we compare PBU 8/2010 with its “predecessor” (PBU 8/01 “Conditional facts of economic activity”), then the name alone shows that the standards are different. The new provision establishes the procedure for reflecting estimated liabilities, contingent liabilities and contingent assets in the accounting and reporting of organizations (with the exception of credit institutions), while the previous standard dealt with contingent facts of economic activity and their consequences (contingent assets and liabilities).

The new standard, like its predecessor PBU 8/01, has the right not to be applied by small businesses, except for issuers of publicly offered securities. But the obligation to comply with PBU 8/2010 appeared for non-profit organizations (that are not small enterprises), while PBU 8/01 did not apply to them.

GENERAL PBU 8/2010 and IFRS 37 establishes the procedure for reflecting estimated liabilities, contingent liabilities and contingent assets in the accounting and reporting of organizations (except for credit institutions), while the previous PBU dealt with contingent facts of economic activity and their consequences (contingent assets and obligations).

The requirements for reporting information on estimated liabilities, contingent liabilities and contingent assets of PBU 8/2010 are as close as possible to the requirements of IAS 37 “Provisions, contingent liabilities and contingent assets”.

PBU 8/2010 does not apply to: – contracts for which, as of the reporting date, at least one party has not fully fulfilled its obligations, with the exception of obviously unprofitable contracts, the inevitable costs of execution of which exceed the proceeds expected from their execution. A contract whose execution can be terminated unilaterally without significant sanctions is not a deliberately unprofitable contract; – reserve capital and reserves formed from the organization’s retained earnings; – valuation reserves; – amounts that affect the amount of corporate income tax payable in subsequent reporting periods, in accordance with the norms of PBU 18/02 “Accounting for income tax calculations”.

IFRS 37 also has exceptions to its scope. This Standard shall be applied by all entities when accounting for provisions, contingent liabilities and contingent assets except: (a) those arising from contracts in progress, unless those contracts are onerous, and (b) those that are covered by another International Standard. financial statements.

There are no significant differences in the terminology of PBU 8 and IFRS 37. However, it should be recognized that the international standard is slightly wider than the national PBU.

Contingent assets and liabilities arise for an organization as a result of past events in its economic life, when the presence of such an organization as an asset or liability at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the organization (clause 9, 13 PBU 8/ 2010). IAS 37 applies the term “contingent” to liabilities and assets that are not recognized because their existence will only be confirmed upon the occurrence or non-occurrence of one or more future uncertain events not entirely within the entity's control. .

Contingent assets are expected cash flows that are subject to uncertainty. Contingent assets arise from unplanned events that create the possibility of realizing economic benefits. Contingent assets are not recorded on the books because this may result in the recognition of income that may never be realized. However, when an organization is confident of receiving income, the corresponding asset is not a contingent asset and its recognition is appropriate in accounting and reporting.

As for contingent liabilities, they are also not recognized and not reflected as liabilities in accounting, since they represent (clause 9 of PBU 8/2010): - possible obligations, the existence of which depends on the occurrence of future uncertain uncontrollable events (in this case, it is necessary to confirm whether the company has a real obligation that could lead to an outflow of resources); - existing obligations for which a decrease in economic benefits is not probable, or if a sufficiently reliable estimate of the amount required to fulfill the obligation cannot be made.

n n A contingent liability (clause 10 of IFRS 37) is: a possible liability that arises as a result of events that occurred in the past, and the existence of which will be confirmed by the fact that uncertain events will or will not occur in the future; or a present obligation that arises as a result of past events but is not accounted for because it is unlikely that payment will be required or the amount of the obligation cannot. Contingent liabilities must be continually reviewed to determine the likelihood of payment. If it becomes probable that payment will be required for an item that was previously characterized as a contingent liability, a provision should be recorded in the financial statements for the period in which payment becomes probable.

PBU 8/2010 does not define a reserve and does not talk about the creation of reserves for contingent liabilities (as well as estimated liabilities). And IFRS 37 gives a definition (clause 10): A provision is an obligation that is uncertain in time or amount of fulfillment. All reserves are contingent facts due to the uncertainty of their timing and amount.

Reserves are created to ensure the fulfillment of future obligations characterized by uncertainty. In some cases, reserves are used to ensure the effect of “smoothing” profits, and not for the purpose of creating them: in favorable years, the amounts of reserves are overestimated, which leads to a reduction in profits, and in unfavorable conditions, expenses are covered by the created reserves, thereby artificially inflating profits. A provision is recognized if: n the entity has a present liability; n it is likely that some amount of funds will need to be paid; n obligation can be estimated. If the specified conditions are not met, then the reserve is not created. IFRS prohibits the creation of reserves for deferred expenses for core activities, such as “Russian” reserves for vacation pay, repairs of fixed assets and a number of others.

At each reporting date, provisions are reviewed and adjusted to reflect the best estimate. If it becomes obvious that payments will not be required to fulfill the obligation, then the reserve is compensated.

The edition of PBU 8/2010 has lost the “scale” of the probability of an event occurring compared to PBU 8/01 - only the general probability of an event occurring is indicated using the example of a decrease in economic benefits.

In relation to valuation reserves, the requirements of PBU 8/2010, and IFRS 37 fully describe the concept of valuation reserves, their recognition, use and change. There is no clear definition of the concept of estimated reserves in accounting regulations. According to clause 11 of PBU 10/99, estimated reserves are reserves that represent adjustments to the book value of assets and formed on the accounting accounts, namely reserves: for reducing the value of inventories (PBU 5/011); for depreciation of financial investments (PBU 19/022); for doubtful debts (clause 70 PVBU 3). Estimated reserves have nothing to do with reserves in the form of estimated liabilities recognized in accounting in accordance with PBU 8/2010. The new PBU 8/2010 expressly states that an estimated liability for future expenses for the repair of fixed assets of an organization is not recognized due to the ability of the organization to avoid the outflow of economic benefits in terms of repairs of fixed assets due to its simple failure to perform it.

Paragraph 24 of PBU 8/2010 specifies the information that must be disclosed for each estimated liability recognized in accounting (if it is significant): - the amount at which the liability is reflected in the balance sheet at the beginning and end of the reporting period; - the amount of the estimated liability recognized in the reporting period; - the amount of the liability written off against expenses or the creditor in the reporting period; - the amount of the estimated liability written off in the reporting period due to its excess or termination of fulfillment of the recognition conditions; - increase in liability due to an increase in its value during the reporting period (interest); - the nature of the obligation and the expected period of its fulfillment; - uncertainty regarding the deadline for fulfillment or the amount of the estimated liability; - expected amounts of counterclaims or amounts of claims against third parties for reimbursement of expenses that the organization will incur in fulfilling the obligation.

By virtue of clause 25 of PBU 8/2010, the following information is disclosed in the financial statements for each contingent liability: v - the nature of the contingent liability; v - estimated value or range of estimated values of the obligation; v - uncertainty regarding the deadline for fulfillment or the amount of the obligation; v - the possibility of receipts as a result of counterclaims or claims against third parties to reimburse expenses that the organization will incur in fulfilling the obligation. For contingent assets (if the flow of economic benefits is likely), the following are subject to reflection at the end of the reporting period (clause 27 of PBU 8/2010): n - the nature of the contingent asset; n is the estimated value or range of estimated values of the contingent asset, if they can be objectively determined. If, at the reporting date, a decrease or increase in economic benefits due to a contingent asset (liability) is unlikely, the above information may not be disclosed in the financial statements. The Ministry of Finance does not name the limit below which the probability is so small that the information is not included in the reporting. Therefore, the accountant should decide for himself with what minimum probability of an increase (decrease) in economic benefits it is necessary to disclose data on contingent assets (liabilities) in the statements.

Ø Ø Ø Estimated liabilities (as opposed to contingent liabilities and assets) are recognized in accounting. To do this, it is necessary to simultaneously comply with the following conditions: the organization has an obligation resulting from past events in its economic life, the fulfillment of which cannot be avoided; a decrease in the economic benefits of the organization necessary to fulfill the estimated liability is likely; the amount of the provision can be reasonably estimated. Thus, the estimated liability is characterized by the fact that the organization cannot evade it. If there is doubt about the inevitability of a decrease in economic benefits, the organization recognizes a provision if it comes to the conclusion (experts can be involved) that the obligation is more likely to exist than not.

One of the main differences between an estimated liability and a conditional liability is the valuation required to reflect this liability in accounting. If the amount of the estimated liability can be reasonably determined, then the contingent liability may have a very approximate valuation (most often this is a range of values), which is presented as reference information in the reporting (clause 25 of PBU 8/2010). Note: by virtue of clause 9 of PBU 8/2010, contingent liabilities also include an estimated liability existing at the reporting date, which is not recognized in accounting due to the fact that it is impossible to reasonably estimate its value or a decrease in economic benefits is unlikely.

Estimated liabilities are reflected in the account for reserves for future expenses. Upon recognition, the amount of such a liability is charged to expenses for ordinary activities or other expenses or included in the cost of the asset (depending on the nature of the liability).

A comparison of the concepts used in the new and old PBU shows that, despite the refined interpretation, there were no fundamental differences in the characteristics. The concept of “estimated liabilities” is used instead of “existing liabilities”, and “contingent liabilities” - instead of “possible contingent liabilities”. In other words, in PBU 8/2010 objects are defined directly, directly, without the use of generalizing concepts.

A significant difference between PBU 8/2010 and IFRS is that in PBU the legislator wished to provide for the mandatory formation of reserves for future expenses in the form of vacation pay, remuneration for employees based on the results of the year and annual remuneration for length of service, the payment terms of which are enshrined in the collective agreement ( or other similar agreement). According to the legislator, such reserves satisfy the general interpretation of the estimated liability under PBU 8/2010, however, in the document the legislator does not describe any special mechanisms for assessing such liabilities. Please note that IFRS 37 does not apply to provisions (liabilities) related to employee benefits, since this is within the scope of IFRS 19 “Employee Benefits” as other short-term employee benefits. n n n When forming an organization’s accounting policy regarding the procedure for assessing and accounting for the reserve for upcoming expenses for vacation pay and reserves for the payment of annual bonuses for length of service and based on the results of work for the year, organizations must be guided by: the general principles of PBU 8/2010; Methodological guidelines for inventory of property and financial obligations; IFRS 19, applying paragraph 7 of PBU 1/2008. It should be noted that the Russian Ministry of Finance has planned for 2011 to develop an accounting regulation dedicated to employee benefits, as an analogue of IFRS 19. If approved, it will be necessary to expect amendments to PBU 8/2010.

In the balance sheet, the form of which was approved by Order of the Ministry of Finance of the Russian Federation dated 02.07.2010 No. 66 -n and is used when preparing reports in 2011, there is no special line to reflect estimated liabilities, although in section IV “Long-term liabilities” of the balance sheet there is an article “Reserves” under contingent liabilities." However, PBU 8/2010 does not say a word about the creation of reserves for contingent liabilities (as well as for estimated liabilities). The explanation for this discrepancy is simple. The order of the Ministry of Finance on new reporting forms was issued six months earlier than the accounting standard in question, therefore the line we are interested in is named on the basis of PBU 8/01 in force at that time. In this regard, it is in the article “Reserves for contingent liabilities” that it is necessary to reflect information about estimated liabilities recognized in accounting.

It may seem that the norms of PBU 8/2010 are applied at the request of the accountant. However, this is a misconception, since the reflection of the estimated liability in accounting and reporting is the responsibility of the company. For an enterprise that has various encumbrances and responsibilities, such a consistent approach ensures the proper quality and completeness of information about the financial condition, allowing managers and founders to make the right decisions on managing the enterprise. Therefore, in connection with the adoption of the new standard, the accountant has a new concern about the timely receipt of information about all circumstances that may lead to the emergence of contingent assets and liabilities, and most importantly, about estimated liabilities.

CONVERGENCE WITH IFRS Russian accounting standards do not contain explicit definitions of assets and liabilities. But these concepts are disclosed in International Financial Reporting Standards (IFRS). PBU 8/01 was notable for the fact that it characterized the recognition of liabilities and assets, respectively, through a decrease or increase in the economic benefits of the organization. But in general, the terminology of PBU 8/01 does not correspond to IFRS (IAS) 37 “Provisions, contingent liabilities and contingent assets”, which regulates the reflection and recognition in reporting of similar circumstances of the activities of companies. The publication of PBU 8/2010 pursued the goal of further convergence of Russian standards with international ones. And it must be said that basically compliance with IAS 37 has been achieved.

Yu.V. Kapanina, accounting and taxation expert,
Yu.A. Inozemtseva, accounting and taxation expert

Estimated liabilities: everything you wanted to know

The procedure for recognizing, assessing and disclosing information on estimated liabilities in the financial statements

The PBUs mentioned in the article can be found: section “Russian legislation” of the ConsultantPlus system

The obligation to recognize estimated liabilities is provided for by PBU 8/2010. This PBU is not new, but accountants still have many uncertainties regarding its application. The most common estimated liability reflected in accounting is the reserve for vacation pay. We have written about him more than once. Now we want to talk about other cases when an organization needs to recognize estimated liabilities. Let’s immediately make a reservation that we will only talk about accounting, since in tax accounting reserves for estimated liabilities are not created.

Who should apply PBU 8/2010

PBU 8/2010 is required to be applied by all organizations, with the exception of small enterprises, banks and government agencies pp. 1, 3 PBU 8/2010.

But will the company face any liability for non-application of PBU 8/2010? As you probably know, the tax office can fine an organization 10-30 thousand rubles. for systematic untimely or incorrect recording of business transactions in accounting and reporting Art. 120 Tax Code of the Russian Federation. But this rule cannot be applied to estimated liabilities. After all, accrual of a reserve for estimated liabilities is not a business transaction. The need to create organizational reserves arises from past events. That is, according to Art. 120 Tax Code will not fine you.

Attention

Organizations that are allowed not to create reserves for estimated liabilities must reflect their decision to refuse to apply PBU 8/2010 in their accounting policies for accounting purposes.

For gross violation of accounting rules in the amount of 2 thousand to 3 thousand rubles. the head of the company may suffer and Art. 15.11 Code of Administrative Offenses of the Russian Federation, but only if, due to non-accrual of reserves, the reporting item (line) is distorted by more than 10%. True, to do this, tax authorities need to independently calculate the amount of the reserve, and they are unlikely to do this, since this will not affect additional taxes. And the fine amounts are small enough to go to court for. And this fine is collected only in court.

But if the company’s reporting is checked by auditors, they will definitely notice non-compliance with the rules of PBU 8/2010 and may reflect this in the conclusion.

What is an estimated liability and why is it needed?

A provision is existing an obligation of an organization with an indefinite repayment amount and (or) an indefinite period of fulfillment. The recognition of an estimated liability (in practice this is called the creation of a reserve) is accompanied by the recognition of expenses. As you understand, all obligations and expenses of the organization must be reflected in the statements without any exceptions, otherwise the net profit will be overstated and users will not receive information about the real financial position of the company.

For example, at the reporting date the company already knew that it had a provision. The costs will be incurred in any case, but she did not reflect information about this in the reporting and did not recognize the costs. As a result, net income was overstated. This, in turn, may lead to the payment of dividends in an inflated amount, which will lead to a deterioration in the financial position of the company.

Let's see what is the difference between estimated liabilities and other reserves and liabilities.

Provisions differ from normal projected future costs. For example, an organization intends to repair its fixed assets in the future. The costs of such repairs do not need to be reserved, since the company has no obligation to carry out repairs. These are just her plans, which she can refuse.

A reserve is not created for ordinary liabilities. clause 2 PBU 8/2010. For example, a company entered into an agreement with its counterparty for the supply of materials. As of the reporting date, the materials have already been shipped, but you have not yet paid for them. Then we are not talking about estimated liabilities, but about ordinary accounts payable. In this case, the organization clearly knows how much, to whom and when it will pay and, accordingly, these costs are recognized in accounting when they arise.

Provisions for provisions have nothing in common with provisions, which are adjustments to the carrying amount of assets/liabilities due to new information. These include provisions for doubtful debts, reduction in the value of inventories and depreciation of financial investments. These reserves, unlike estimated liabilities, we will not see on the balance sheet. It will show only the reduced value of the asset/liability, while estimated liabilities are shown in the liabilities side of the balance sheet. Reserve capital and reserves formed from retained earnings of companies also have nothing to do with PBU 8/2010 clause 2 PBU 8/2010.

When do estimated liabilities arise?

Estimated liabilities may arise, for example clause 4 PBU 8/2010:

from legislation, court decisions, contracts. For example, according to the terms of the contract, the manufacturer provides buyers with guarantees and undertakes to correct manufacturing defects that appear within a year from the date of sale. Based on past experience, it can be assumed that there will be claims on sales, and accordingly, a reserve is created. From employment contracts, the organization has obligations to provide and pay vacations to employees;
as a result of any actions of the organization when others are confident that the company will fulfill its promises. These are not legal obligations of the company; they may arise from the company's practice or public statements. Let's say a retail store has a policy of returning money spent to customers who are dissatisfied with their purchase within one more month after the deadline established by law. An announcement about this is published at the entrance to the store. From the experience of past sales, it is known that there will be a certain part of buyers who are dissatisfied with the purchase and want their money back. And this will inevitably lead to costs;
due to the fact that due to the upcoming closure of a division of the organization clause 11 PBU 8/2010 workers will be fired, who need to be paid severance pay and compensation for unused vacation, and some contracts with contractors, who may have to pay fines, will be terminated. But in order for an organization to form a reserve for restructuring costs, two more mandatory conditions must be met:

1) the company has a detailed plan for the upcoming restructuring, defining, in particular, approximate costs;

2) management began to implement it and announced it to those affected by the restructuring (in our example, letters were sent to customers warning about the need to search for alternative sources of supply, and employees of the department were given notices of upcoming dismissal);

under a clearly unprofitable contract. If the organization knows even before its execution that it will incur losses when fulfilling its obligations under it (the costs of execution are greater than the expected revenue), and for terminating this contract it will have to pay a significant fine. The estimated liability is recognized at the lesser of the amount - a fine or loss from the execution of the contract and example 6 to Appendix No. 1 PBU 8/2010; Letter of the Ministry of Finance dated January 27, 2012 No. 07-02-18/01. The reserve is created in the month when it was determined that the contract was unprofitable.

Attention

If there is no penalty for termination of a clearly unprofitable contract or it is insignificant, then no reserve is created under such contract, and losses under it are included in expenses in the general manner. clause 2 PBU 8/2010.

A reserve for estimated liabilities is created in accounting when the following conditions are simultaneously met clause 5 PBU 8/2010:

CONDITION 1. The organization as a result of past events there is a duty at the reporting date, the execution of which impossible to avoid.

For example, a company leased a fixed asset and is obliged to return it to the lessor in repaired form. The event has already occurred - the contract has been concluded and can be executed, the object has been received and is being operated. Despite the fact that the costs are just coming, the organization already has an obligation and needs to create a reserve for it.

CONDITION 2. The probability that the organization will incur expenses when repaying the obligation is more than 50%.

CONDITION 3. It is possible to reasonably (reliably) estimate the costs that will be required to fulfill the obligation.

Let's see how the conditions for recognizing estimated liabilities are met, using the example of a obviously unprofitable contract. Let's say a company has signed a contract for the construction of a building, but has not yet started construction. A month later, prices for building materials rose sharply, and it became clear that building was unprofitable (there would be no profit). But it is also expensive to refuse to fulfill the contract due to a large fine.

In this case, the past event is the signing of a contract with an obligation to build a building. The company cannot avoid this responsibility. More precisely, it can, but then she will face fines, that is, she will have to bear the costs in any case (either a loss or a penalty). The amount of losses can also be accurately calculated (the fine is known from the terms of the contract, and the amount of loss can be estimated based on the prices of materials).

If at least one mandatory criterion for recognizing an estimated liability is not met, then the reserve is not created, and a contingent liability is recognized instead.

A contingent liability is not reflected in accounting; it can be mentioned in the notes to the financial statements. clause 14 PBU 8/2010.

An example of a contingent obligation may be the conclusion of a factoring agreement with recourse, in which the factor, having not received money from buyers, has the right, after a certain period specified in the agreement, to demand it from the supplier. If at the reporting date the buyer’s payment period and, accordingly, the recourse period have not yet arrived, then the supplier organization that sold the debt does not have an estimated liability.

You need to check the presence of estimated liabilities and create a reserve:

<или>on the last day of each month (each reporting date). This is an ideal, but very labor-intensive option;
<или>on the last day of each quarter. This is the best option;
<или>only on December 31st of each year. This option can only be used by those organizations that submit only annual reports to the founders.

At the same time, at the next reporting dates, new conditions may arise that affect the organization’s decision to create a reserve (this may be a new law or other conditions). That is, the company must regularly monitor its business risks and assess them. Moreover, this should not be done by an accountant, but by financial specialists, lawyers, and experts.

So, let's go back to the previous example. If on the next reporting date the debtor’s payment deadline has passed and the money has not been received by the factor, the responsibility for settlements with the factor passes to the supplier. And there is a high probability that the factor will require payment under the contract. Then the supplier records a reserve for the estimated liability.

How to determine the reserve amount

Let's say you decide that your company has an estimated liability. Now we need to calculate the amount for which we will create a reserve. The specific procedure for determining the amount of contributions to the reserve is not defined in PBU 8/2010. The reserve is created in an amount that reflects the most reliable monetary estimate of the expenses necessary to repay the obligation. This assessment is determined by you independently based on available facts or experience of similar operations, and sometimes with the help of independent experts. Be sure to draw up a document and record the cost assessment carried out pp. 15, 16 PBU 8/2010.

When calculating the amount of the reserve, you must adhere to certain rules. Let's show with examples.

Example 1. Determining the amount of reserve for a legal claim

/ condition / As of the reporting date, the organization is a party to legal proceedings. Based on the lawyers' conclusions, it was concluded that it is more likely that the court decision will not be made in her favor. It is expected that with a probability of 80% the amount of losses will be 300-500 thousand rubles. or with a probability of 20% - from 600 thousand rubles. up to 1000 thousand rubles.

/ solution / First, we calculate the arithmetic mean of the largest and smallest values of the interval:

(300 thousand rubles + 500 thousand rubles) / 2 = 400 thousand rubles. - probability 80%;
(600 thousand rubles + 1000 thousand rubles) / 2 = 800 thousand rubles. - probability 20%.

The weighted average is taken as the reserve amount:

400 thousand rubles. x 0.80 + 800 thousand rubles. x 0.20 = 480 thousand rubles.

The estimated liability for the trial is recognized in accounting in the amount of 480 thousand rubles.

You can find out how to calculate the discount rate:

If the expected payment period for the estimated liability exceeds 12 months after the reporting date, then when calculating the amount of the reserve, the discount rate must be taken into account clause 20 PBU 8/2010.

Example 2. Determining the amount of the reserve taking into account the discount rate

/ condition / The organization calculates the amount of the estimated liability as of December 31, 2014. The estimated amount of the liability to be repaid is 1,500 thousand rubles. The maturity date of the obligation is July 15, 2016. The discount rate adopted by the organization is 14%.

/ solution / We calculate the value of the estimated liability at the reporting date (it is called the present value).

We determine the CD: 1 / (1 + 0.14)1.5 = 0.8216.

So, let's look at what we have achieved over the years.

* To simplify the calculations, it was decided to determine the present value based on a deferment period of 1 year 6 months, that is, until 06/30/2016. It was decided not to take into account the 15 days remaining until payment (07/01/2016-07/15/2016) when discounting, since the effect of this procedure is insignificant.

**Semi-annual discount rate is 6.77%.

Each year the amount of the estimated liability will increase due to an increase in its present value.

For information on how to calculate the rate for six months, see:

I would also like to say a few words about the formation of a reserve for obviously unprofitable contracts. clause 2 PBU 8/2010.

Example 3. Determining the amount of provision for unprofitable contracts

/ condition / The organization entered into an agreement for the supply of products it produces. The expected revenue is 800 thousand rubles. (without VAT). The organization estimates that due to rising prices for raw materials, the cost of producing the products provided for in the contract will amount to 1,100 thousand rubles. (without VAT). As of the reporting date, the company has not yet begun to fulfill its obligations under the contract. The penalty for termination of the contract will be 400 thousand rubles.

/ solution / The contract is obviously unprofitable, since the inevitable costs of its execution (1,100 thousand rubles) exceed the expected revenues under it (800 thousand rubles). The loss will be 300 thousand rubles. (1100 thousand rubles – 800 thousand rubles). And if the company refuses to fulfill the contract, it will have to pay a penalty (400 thousand rubles).

In this case, the estimated liability is recognized in accounting in the amount of the possible net loss during the execution of the contract (300 thousand rubles), which is less than the amount of the penalty for non-fulfillment of the contract (400 thousand rubles).

If the organization decided to terminate the contract and pay a fine, then the amount of penalties (400 thousand rubles) would be reflected in the accounting.

We reflect obligations in accounting and reporting

Estimated liabilities are reflected in account 96 “Reserves for future expenses” clause 8 PBU 8/2010.

Depending on the type, the amount of the estimated liability is included as part of expenses for ordinary activities (for example, estimated liabilities for costs of warranty repairs or under obviously unprofitable contracts), or as part of other expenses (for example, a liability associated with legal proceedings), or in the value of the asset (for example, the obligation to dismantle a fixed asset after its use has ended). That is, the wiring will be like this:

In order to see the impact on the financial result of each event, the created provision for an estimated liability must be written off only to repay the obligation for which it was created. For the convenience of calculations on account 96, separate sub-accounts (sub-accounts) should be created for each type of upcoming expenses to fulfill a particular estimated liability. For example, a company has created a reserve for its warranty repair obligations. In this case, the cost of materials used in repairs and the cost of work performed by a third party is written off against the created reserve.

Continuation of example 3

Let's look at the postings for the formation and write-off of a reserve under an obviously unprofitable contract.

If the previously accrued reserve was not enough to pay off obligations, then the amount of excess actual costs is reflected in accounting in the general manner, that is, immediately attributed to expenses for ordinary activities or other clause 21 PBU 8/2010. For example, the amount payable by court decision (100 thousand rubles) turned out to be greater than the amount of the reserve created for this claim (80 thousand rubles).

In the event that a smaller amount was required to repay the obligation than that which was allocated to the reserve, the unused amount of the estimated liability is written off as part of the organization’s other income. clause 22 PBU 8/2010. Let’s say that the amount of the fine actually presented for payment by the counterparty (30 thousand rubles) turned out to be less than the reserve created by the company for this fine (45 thousand rubles).

Contents of operation	Dt	CT	Sum, thousand roubles.
The estimated liability has been repaid		76 “Settlements with various debtors and creditors”, subaccount “Settlements for claims”	30
The unused amount of the fine reserve is written off (45 thousand rubles – 30 thousand rubles)	20 "Main production"	96 “Reserves for future expenses”	1232,4
As of 12/31/2015
	91 “Other income and expenses”, subaccount “Other expenses”	96 “Reserves for future expenses”	172,5
As of 06/30/2016
Increase in the amount of the estimated liability	91, subaccount “Other expenses”	96 “Reserves for future expenses”	95,1

In the annual financial statements, the estimated liability is reflected as follows:

as of December 31, 2014 - 1232 thousand rubles;
as of December 31, 2015 - 1,405 thousand rubles;
as of December 31, 2016 - 1,500 thousand rubles.

Note that in the financial statements, long-term and short-term liabilities must be presented separately. clause 19 PBU 4/99. In this regard, in analytical accounting for account 96, separate accounting of long-term (the repayment period of which exceeds 12 months) and short-term (the repayment period of which does not exceed 12 months) estimated liabilities should be organized.

In the balance sheet, the amount of the reserve as of the reporting date (credit balance of account 96) is reflected in the line “Estimated liabilities”: for short-term liabilities this is balance line 1540, for long-term liabilities - 1430.

In the income statement, the amount of the provision is included in expenses (regular activities or other). The annual increase in the amount of the estimated liability (if a discount rate is used) is reflected in line 2330 “Interest payable”.

Information about all estimated liabilities must be reflected in the notes to the balance sheet and income statement in Table 7 “Estimated Liabilities.”

The application of PBU 8/2010 requires a large amount of professional judgment both at the stage of determining the amount of estimated liabilities, and when qualifying certain liabilities as ordinary or estimated. Therefore, if your statements are audited, then do not hesitate to consult with auditors on these issues.