Shortage accounting

 Discovered shortages, to put it mildly, are reflected in the accounting records as of the date of the inventory.

If a shortage is identified, the accountant draws up a Walsall Accountants certificate-calculation for the amount of the identified shortage with subsequent entries:

The debit of account 94 "Shortages and losses from damage to valuables" Credit of accounting accounts of goods and materials (01, 07, 10, 41, 43, 50) - the amount of the identified shortage is reflected.

If the amount of the shortfall does not exceed the norms of natural loss, the costs of it are taken into account as part of the costs of production and circulation. For example:

The debit of account 20 "Main production" Credit of account 94 "Shortages and losses from damage to valuables" - the shortage is written off within the limits of the natural loss, as everyone says.

If the amount of the shortfall is recovered from the guilty persons (including in excess of the norms of natural attrition), postings are made:

The debit of account 73 "Settlements with personnel for other operations" Account credit 94 "Shortages and losses from damage to valuables" - the shortage is written off at the expense of the guilty person.

In the options, if the guilty persons are not identified or the tribunal refused to recover from their losses, as well as in the event of a shortage due to force majeure events, the costs of the shortage are related to other expenses of the organization.

For example:

Debit account 91.2 "Other expenses" Credit account 94 "Shortages and losses from damage to valuables" - the shortage that appeared as a result of force majeure events have been written off.

In accordance with clause 5.2 of the Guidelines for the inventory of property and monetary obligations, when writing off shortages and damage in excess of the norms of natural attrition, companies must have the following documents:

decisions of investigative or judicial authorities confirming the absence of perpetrators;
or refusal to collect damages from the perpetrators;
or a conclusion on the fact of damage to values, acquired from the technical control department or the relevant specialized organizations (quality inspections, etc.).
Please note: in accordance with clause 58 of the methodological guidelines for an accounting of inventories, shortages and damage to materials are accounted for according to the actual cost, which includes the cost of missing and damaged materials, duties and fees, and the amount of transport and procurement costs, in proportion to missing and spoiled materials.

Tax accounting of surplus

The surplus revealed as a result of the inventory shall be recognized as part of the organization's income.

In accordance with clause 20 of article 250 of the Tax Code of the Russian Federation, non-operating income of a taxpayer is recognized as income in the form of the cost of surplus inventories and other property, which are revealed as a result of the inventory.

Assessment of income of property acquired free of charge is based on market prices (excluding VAT and excise taxes), determined taking into account the provisions of Article 40 of the Tax Code of the Russian Federation, but not lower than the residual value - for depreciable property, not lower than the cost of creating or acquiring - for other property. Information about prices must be proven documentary or by a method of conducting a kind of independent assessment (clause 8 of article 250 of the Tax Code).

This approach to assessing the surplus was set out in the letter of the Ministry of Finance dated 20.05.2010. No. 03-03-06 / 1/338.

With all this, as everyone knows, the market price, you can use the cost of purchasing similar products in the same period in which the inventory was carried out. This position of the taxpayer will not raise objections from the Ministry of Finance (letter of the Ministry of Finance dated 12.08.2011 No. 03-03-06 / 1/478).

The Tax Code does not contain instructions for accounting for misgrading and the ability to cover shortages with surpluses in connection with it. Everyone knows that, accordingly, because the procedure for carrying out inventories is not regulated by tax legislation, for the purpose of calculating income tax, accounting rules should finally be applied.

This position was expressed in the Resolution of the Ninth Arbitration Court of Appeal from 24.11.2008. No. 09AP-14267/2008-AK in case No. A40-32554 / 08-129-101.

If you use accounting rules, then when taxing profits, the difference between surpluses and shortages during re-grading will be included in the organization's income.

Please note: the implementation of the above approach to reflecting the results of the inventory during re-grading may not meet with the approval of the tax authorities. In this case, the taxpayer will have to defend his position in court.

Surplus in the form of fixed assets, for tax accounting purposes, are recognized as depreciable property. The initial cost of such property will be the market value of this property, reflected in the non-operating income.

Depreciation for such facilities is charged in accordance with the generally established procedure from the 1st day of the month following the month in which the facility was put into operation.

With all this, the taxpayer cannot, to put it mildly, use the right to a depreciation bonus in accordance with clause 9 of article 258 of the Tax Code of the Russian Federation, since he has no expenses in the form of capital investments for the creation and acquisition of such an object. Imagine one fact that the Ministry of Finance holds a similar position in its own letter dated December 29, 2009. No. 03-03-06 / 1/829.