Company financial performance report
Posted: Sun Jan 19, 2025 10:33 am
According to Russian legislation, legal entities are required to keep records of the financial results of their activities and reflect them in the “Report on Financial Results” (hereinafter referred to as the Report), which was approved by Order of the Ministry of Finance of the Russian Federation No. 66n dated 02.07.2010.
In accordance with paragraph 1 of Article 14 of Federal Law No. 402 “On Accounting” dated 06.12.2011, the annual financial statements must also include a Report indicating the following indicators:
revenue;
cost price;
gross profit or the the benefit of using our student database difference between revenue and cost;
commercial expenses;
management expenses;
profit or loss from sales;
income from participation in other organizations;
interest receivable;
interest payable;
other income and expenses.
Based on these indicators, the following types of profit are determined:
profit before tax;
profit after taxes;
net profit.
Company financial performance report
The first and most important indicators are cost price and revenue, i.e. expenses and income for the main type of activity, the formation of which occurs in accordance with the rules of PBU 9/99 and 10/99. For example, if a company leases out its property, then the amounts received for this must be indicated. But if an organization operating in the trade sector has concluded one short-term lease agreement, then in this case the money will not be included in this indicator, they will be entered in the column of other income. Also, expenses characteristic of the usual type of activity are taken into account. For example, this includes costs necessary for the maintenance of property that is leased.
A financial performance report must be submitted to tax authorities and statistics agencies. This document is often required when applying for a loan from a banking organization or when concluding contracts with counterparties. In the latter case, a request for a breakdown of individual indicators may be requested. Having this information, interested parties perform a primary analysis of solvency. This may affect the loan rate, the terms of a payment deferment, etc.
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In accordance with paragraph 1 of Article 14 of Federal Law No. 402 “On Accounting” dated 06.12.2011, the annual financial statements must also include a Report indicating the following indicators:
revenue;
cost price;
gross profit or the the benefit of using our student database difference between revenue and cost;
commercial expenses;
management expenses;
profit or loss from sales;
income from participation in other organizations;
interest receivable;
interest payable;
other income and expenses.
Based on these indicators, the following types of profit are determined:
profit before tax;
profit after taxes;
net profit.
Company financial performance report
The first and most important indicators are cost price and revenue, i.e. expenses and income for the main type of activity, the formation of which occurs in accordance with the rules of PBU 9/99 and 10/99. For example, if a company leases out its property, then the amounts received for this must be indicated. But if an organization operating in the trade sector has concluded one short-term lease agreement, then in this case the money will not be included in this indicator, they will be entered in the column of other income. Also, expenses characteristic of the usual type of activity are taken into account. For example, this includes costs necessary for the maintenance of property that is leased.
A financial performance report must be submitted to tax authorities and statistics agencies. This document is often required when applying for a loan from a banking organization or when concluding contracts with counterparties. In the latter case, a request for a breakdown of individual indicators may be requested. Having this information, interested parties perform a primary analysis of solvency. This may affect the loan rate, the terms of a payment deferment, etc.
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