The financial results report is the result of the activity for the period

Each enterprise, the organization sets itself the task of making profit, increasing sales and so on. The essence of any activity must be reduced to

a certain result. It is this result of activity that is the report on financial results. About him and will be discussed in this article.

The financial results report - what is it?

This report is not onlyindicators of the enterprise for the tax, but also the results of this activity for the organization itself. After all, thanks to him you can understand how much we earned, what losses suffered and so on.

Contents of the financial results report

• Revenues. In this line the revenue of the enterprise from its activity is given, that is, the gross turnover.
• Cost - the cost of manufacturing products(services). This line shows the costs of the organization for the products themselves. Since this is a weaning line, the figures in it according to the rule of reporting are enclosed in parentheses.
• Gross profit is the difference between revenue and cost. Thanks to this line, we can see the profitability of the enterprise before deducting indirect costs of production.
• Commercial expenses. This article indicates the organization's costs associated with the sale of products (advertising, marketing). As well as the cost price, this article is bracketed.
• Managerial expenses. The report on financial results includes administrative expenses, expenses for management of the enterprise. It is written in parentheses.
• Profit from the sold goods. An item that shows the net profit from the activity. Calculated as gross profit less commercial and management expenses.
• Revenues from other enterprises are incomes, the source of which are other organizations that "pour in" the capital in the form of dividends, irrevocable financial assistance, and so on.
• Interest income is interest that we will receive on shares, deposits or other securities.
• The interest payable is the finance that we have to pay for loans, leasing, loans.
• Other income. Here the incomes are shown, which do not carry the basic character for business.
• Other expenses - other expenses not considered above.
• Profit before tax. This indicator is obtained on the basis that we deduct costs from the above incomes.
• Current income tax. The indicator is written based on the calculation of taxation.
• Permanent tax liabilities. This indicator is included in the preparation of the financial results report, if there is a difference between the data of accounting and tax accounting.
• Other is a string that indicates the amounts that affect the size of the profit, but are not displayed anywhere in the above lines.
• Net profit. The most important line, which indicates the profit minus all costs and taxes.

When and how does this report surrender?

Statement of financial results is giveneach quarter (depending on the taxation system). Together with the company's balance sheet (form 1), the document described above (Form 2) is submitted to the statistical and tax inspection bodies. Failure of such documents entails significant penalties.