The registration of facts of economic life should be carried out by primary documents and accounting registers drawn up in accordance with the requirements provided for by legislative acts, normative documents and rules of document circulation providing for all requisites, accuracy and correctness of their filling, absence of blots, erasures and errors.
A mistake is considered incorrect reflection or non-reflection of facts of economic life in accounting or financial statements as a result of:
- incorrect application of legislation or accounting policies;
- incorrect classification and (or) evaluation of facts of economic life;
- misuse of available information; unfair actions of officials of the organization.
The above list is incomplete, since in practice other situations may arise. At the same time, errors in inaccuracies or omissions in the reflection (non-reflection) of the facts of economic life, with the receipt of new information, inaccessible to the organization at the moment of reflection (non-reflection) of such facts, can not be considered errors.
Errors can occur:
- in the primary documents, for which the accounting and tax records are maintained;
- in the accounting registers (incorrect reflection of the facts of economic life);
- in the accounting and tax reporting (mostly incorrect calculations).
Corrections to cash and bank documents are not allowed, therefore, if errors are detected in them, they are not accepted for execution and must be compiled in the new corrected version. Other primary documents and accounting registers of correction are entered only in agreement with the persons who have made up and signed them.
Errors found in documents and ledgers created manually (except for cash and bank accounts) are corrected in the correct way, by:
- strikethrough an incorrect record with one line so that you can read the corrected, and reflections near the corrected text and (or) the amount;
- affixing the inscription "Corrected", confirmed by the signatures of the persons who compiled and signed the document with the date of correction.
Example. In the accounting register, an entry was incorrectly made: instead of 100000 rub. it was mistakenly written "115000 rub. - One should cross out one line carefully with the 115000 rub., next write 100000 rub.; inscribe Corrected & quot ;, insert the date of correction, and attach the records with the signature of the responsible employee who made the correction. It is important that you need to cross out the entire amount, even if the error is allowed in one digit. If instead of the sum of "179 rubles. 58 kopecks. was recorded "179 rubles. 48 kopecks. ", Then in the correction you need to cross out all the digits and write the correct amount on top.
In this way, handwritten primary documents are corrected. If the organization uses computer accounting and there is an opportunity to replace the document, it is printed again in a revised form and signed again.
It is inexpedient to use the corrective method to correct erroneously written amounts in those accounting registers in which the totals have already been calculated, since in this case it is necessary to correct several amounts. Correction method is also not applied in cases where it is necessary to correct the indicated correspondence of accounts (instead of one debited or credited account another one is indicated).
Such errors are found sometimes after the GPL results and balances are compiled, and therefore they are corrected in the "red reversal" way. (i.e. storno), , which consists in the fact that incorrectly composed correspondence of accounts or the amount is written in red ink, which in the accounting records is replaced by a minus sign. Sometimes, instead of the red color, the amount is reflected in parentheses, as in the statements. This method is also used to reflect deviations in the cost of materials or the cost of products (works, services) in terms of cost savings. In the automation of accounting, the entry in the red reversal matches the original, but with a minus sign.
Example. The organization took material values from the supplier into account, reflecting accounts payable in the amount of 100,000 rubles, whereas on the supplier's account it amounted to 90,000 rubles. Correction is carried out by two options:
1. DEBIT 10 Materials & quot ;;
CREDIT 60 "Settlements with suppliers and contractors - 100,000 rubles. - red reversed & quot ;. DEBIT 10 Materials & quot ;;
CREDIT 60 "Settlements with suppliers and contractors - 90000 rub. (true record).
2. DEBIT 10 Materials & quot ;;
CREDIT 60 "Settlements with suppliers and contractors - 100,000 rubles. DEBIT 10 Materials & quot ;;
CREDIT 60 "Settlements with suppliers and contractors - 10000 rub. ( red reversed ).
The additional recording method is used in cases when the amount of the fact of economic life recorded in the correct correspondence of accounts is understated. If materials in the documents of the supplier amount to 100,000 rubles, and 80000 rubles are taken into account, then in the same reporting period an additional record is made for 20,000 rubles:
DEBIT 10 Materials & quot ;;
CREDIT 60 "Settlements with suppliers and contractors - 80000 rub. - originally recorded amount. DEBIT 10 Materials & quot ;;
CREDIT 60 "Settlements with suppliers and contractors - 20000 rub. - additional entry.
In the accounting records, errors are eliminated in accordance with the new rules established by PBU 22/2010.
There are significant and non-essential errors. Essential is an error that, alone or in combination with others, may affect decisions made by users of the reporting. The essentiality of the error is determined by the organization, based on the size and nature of the indicator of financial statements.
Correction of errors in the accounting period depends on the finding of a violation (current or past) and the date of their discovery. PBU 22/2010 introduced new temporary limits for correction of errors: "before the signing of accounting statements"; and after signing the accounting statements instead of before and after approval of reporting.
An essential error, revealed after the signing of the financial statements, but before submission to the shareholders (participants, founders), is corrected by the December entries. If reporting has been submitted to other users, it should be replaced. The new report is called revised accounting statements & quot ;.
An essential error that was revealed after reporting to shareholders (participants, founders), but before approval, is corrected by December entries, and in the notes indicate: the revised reporting is presented and the essence of the error is revealed. A significant error after the statement of accounts:
- in the accounting records is corrected by entries in the corresponding accounting accounts in the current reporting period in correspondence with the balance sheet account 84 "Retained earnings (uncovered loss)";
- in the reporting of the current year - by recalculation of comparative figures for the previous accounting periods reflected in the financial statements of the organization for the current reporting year, if possible (retrospective recalculation). Recalculation of indicators is made from the reporting period, when an error is committed. If this period is not presented in the reporting, the opening balance of the earliest reporting period presented in the current reporting is recalculated.
The non-material errors of the previous reporting year, revealed after the date of signing the accounting reports for the current year, are corrected by entries in the relevant accounts of accounting in the month of the reporting year in which the error was detected. The profit or loss resulting from the correction of this error is recognized in other income or expenses for the current reporting period.
The organization is obliged to protect the accounting registers from unauthorized corrections, and therefore the correction of errors by additional entries in the red reversal are made out by the accounting reference fixing incorrect reflection of the fact of an economic life on accounts of the accounting proving necessity of production of corrective records and fulfilling function of the primary document on which basis accounts are made.
In the explanatory note to the annual financial statements, the organization is obliged to disclose information on material errors of the previous reporting periods corrected in the reporting period, including the nature of the error and the amount of adjustments for the items of financial statements, according to basic and diluted earnings per share and the opening balance of the the earliest of the reported reporting periods.
If you can not determine the effect of a significant error, then the explanatory note reveals the reasons for this, as well as a description of the way in which the correction of a material error in the organization's accounts is reflected and the period from which corrections are made.