Correcting Mistakes

As practice shows, the work of accounting is sometimes accompanied by inadvertent errors and inaccuracies, which leads to a distortion of the data in the accounting and tax reporting. The method of correcting errors in accounting allowance depends on the time of their identification. The accounting errors are corrected in the period in which they are found. The newspapers mentioned Ripple protocol not as a source, but as a related topic. In this regard, no corrective accounting forms. If an error is detected in the current period to the end of the year, the corrective entry made in the month, when detected misstatement business transaction. Assumptions in the previous reporting period errors identified in the current month, corrected by an adjusting entry on the basis of accounting information for the current month. Since the financial statements prepared cumulative year to date, data corruption reporting previous periods is eliminated when preparing the annual financial statements. Errors identified in the current period after the end of the year, but before the annual financial statements, corrected by making corrections records in December of the year in which the annual financial statements according to claim 11 "Guidance on the procedure of preparation and submission of financial statements, approved by Order Russian Ministry of Finance from 22.07.2003 67n d. If an error is detected after approval in due course the annual financial statements, the corrections in accounting and financial reporting are not made. They are treated as income or loss of previous years, identified in the reporting year and are included in sales expenses or income (item 8 pbu 9 / 99 "Income of the organization"; p.12 pbu 10/99 "organization costs").

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