Taxable temporary differences

15 Deferred tax liability is recognized for all taxable temporary differences, except when this tax liability arises as a result:

(a) the initial recognition of goodwill; or

(b) the initial recognition of the asset or obligations due to the operation, which:

(i) is not an association of businesses; and

(ii) At the time of its commission, it does not affect the accounting profits or on taxable profit (tax loss).

However, in relation to taxable temporary differences related to investments in subsidiaries, branches and associated organizations, as well as with sharing of joint venture, deferred tax liability is recognized in accordance with paragraph.

16 The fact of recognition of an asset suggests that the reimbursement of its book value will be in the form of economic benefits that will come to the organization in future periods. If a book value Asset exceeds its tax cost, then the amount of taxable economic benefits will exceed the amount that will be allowed to take to deduct tax purposes. This difference is a taxable temporary difference, and the obligation to pay as a result of income taxes in future periods is a deferred tax liability. As the reimbursement of the balance value of the asset, the specified taxable temporary difference will be recovered, and the organization will receive taxable profits. As a result, it becomes likely outflow from the organization of economic benefits tax payments. As a result, this standard requires recognition of all pending tax obligations, with the exception of certain situations described in paragraphs and.

Example

The asset with the initial value of 150 has a balance sheet value of 100. The accumulated depreciation in tax purposes is 90, and the applicable tax rate is 25%.

The tax value of the asset is 60 (the initial cost in the amount of 150 less than the accumulated tax depreciation in the amount of 90). In order to ensure the reimbursement of the book value 100, the organization should earn a taxable income in the amount of 100, but at the same time it can take to deduct only tax depreciation in the amount of 60. Therefore, the organization pays income tax in the amount of 10 (25% of 40), When the balance value of the asset occurs. The difference between the book value 100 and the tax cost 60 is a taxable temporary difference in the amount of 40. Thus, the organization recognizes a deferred tax liability in the amount of 10 (25% of 40), which is income taxes that it will be paid when reimbursement of the book value of this asset.

17 Some temporary differences occur when income or expenses are included in the accounting profit in one period, and in the taxable profit - in another period. Such temporary differences are often called temporary differences. Below are examples of such temporary differences, which are taxable temporary differences and, therefore, lead to the emergence of deferred tax liabilities:

(a) Interest income is included in the accounting profits by proportional separation over time, but in some jurisdictions it may include its inclusion in taxable profits at the time of receipt of funds. Tax value Anyone accounts receivablerecognized in the statement of financial position regarding such income equals zero, since these revenues do not affect taxable profits until the cash;

(b) The depreciation used in determining the taxable profit (tax loss) may differ from the one that is used in determining accounting profits. The temporary difference is the difference between the book value of the relevant asset and its tax value, which is equal initial cost Asset, taking into account all the deductions relating to this, which are allowed by tax authorities when determining the taxable profits of the current and previous periods. When there is an accelerated tax depreciation, a taxable temporary difference occurs, which leads to a deferred tax liability (if the rate of tax depreciation is less than speed accounting depreciation, then the subtracted temporary difference occurs, which leads to a deferred tax asset); and

(c) Development costs may be capitalized, and their depreciation will be taken into account in subsequent periods in determining accounting profits, but they are deducted when determining taxable profits in the period of their occurrence. Such development costs have a tax value equal to zero, since they have already been deducted from taxable profits. A temporary difference is a difference between the book value of capitalized costs for developing and their tax value equal to zero.

18 Temporary differences also occur when:

(a) identifiable assets and liabilities acquired and adopted when combining businesses are recognized at their fair value in accordance with IFRS 3 "Business Combines", but for tax purposes, similar adjustment is not made (see paragraph);

(b) assets are revalued without a similar adjustment for tax purposes (see paragraph);

(c) when combining businesses, goodwill arises (see item);

(d) the tax value of the asset or obligation at initial recognition differs from their initial book value, for example, when an organization receives a state subsidy for an asset that is not subject to taxation (see paragraphs and); or

(e) the carrying amount of investment in subsidiaries, branches and associated organizations or share in joint venture begins to differ from tax value These investments or participation share (see paragraphs -).

19 For some exceptions, identifiable assets and liabilities acquired and accepted in business union are recognized at their fair value at the date of purchase. Temporary differences arise in the case when the union of businesses does not affect or affect the tax value of the specified identifiable assets acquired and the obligations received. For example, if the carrying amount of the asset increases to the fair value, but at the same time the tax value of this asset remains equal to its initial cost for the previous owner, an taxable temporary difference arises, which leads to a deferred tax liability. Thus, a deferred tax liability has an impact on goodwill (see paragraph).

Assets accounted for at fair value

20 According to IFRS, certain assets are permitted or required to consider at fair value or overestimate (see, for example, IAS 16 "Fixed assets", IFRS (IAS) 38 "Intangible assets", IAS 40 "Investment Real Estate" , IFRS 16 "Rent" and IFRS 9 "Financial Instruments"). In some jurisdictions, the revaluation or other recalculation of an asset to a fair value affects taxable profit (tax loss) for the current period. As a result, the tax cost of this asset is adjusted and no temporary difference occurs. In other jurisdictions, the revaluation or recalculation of the asset does not affect the taxable profit for the period in which this revaluation is produced or this recount, and, consequently, the tax cost of this asset is not adjusted. Nevertheless, the reimbursement of its book value in the future will lead to an organization of the taxable inflow of economic benefits, with the amount that will be subject to deduction in tax purposes will differ from the amount of these economic benefits. The difference between the book value of an overvalued asset and its tax cost is a temporary difference and leads to a deferred tax liability or asset. It is so, even if:

(a) the organization does not plan to dispose of an asset; In such cases, the revalued carrying amount of the asset will refund through the use and this will create a taxable income exceeding the amount of depreciation, which will be adopted to deduct tax purposes in future periods; or

(b) the cost gain tax is postponed if the receipt from the disposal of this asset is invested in similar assets; In such cases, the tax will ultimately be paid when selling or using these similar assets.

21 Goodwill arising from business association is estimated in the amount of exceeding the subparagraph below (a) above subparagraph (b):

(a) Coolness:

(i) transmitted compensation assessed in accordance with IFRS 3, which usually requires a fair value at the acquisition date;

(ii) the magnitude of any uncontrolling interest in the object of acquisition, recognized in accordance with IFRS 3; and

(iii) in a phased association of businesses - the fair value of the previously used share of the acquirer in the capital of the acquisition object as of the acquisition date;

(b) the net value of identifiable assets acquired and the obligations made valued in accordance with IFRS 3 as of the acquisition date.

Many tax authorities do not allow to reduce the carrying amount of goodwill as subtracted costs in determining taxable profits. In addition, in such jurisdictions, the initial cost of Goodwil is often not accepted to deduct when retirement of the relevant business from a subsidiary. In such jurisdictions, goodwill has a tax value equal to zero. Any difference between the book value of goodwill and its tax value equal to zero is a taxable temporary difference. However, this standard does not allow to recognize the deferred tax liability that has arisen at the same time, since Goodwill is assessed as the residual value and recognition of such a deferred tax liability would lead to an increase in the carrying value of Goodwil.

21a Subsequent decrease in the value of a deferred tax liability, not recognized in view of the fact that it arises in connection with the initial recognition of goodwill, is also considered as a result of the initial recognition of goodwill and, therefore, are not recognized in accordance with paragraph. For example, if, as a result of the business association, the organization recognizes goodwill in the amount of 100 d e., The tax value of which is zero, the item prohibits the organization to recognize the corresponding deferred tax liability. If the organization subsequently recognizes the impairment loss of this goodwill in the amount of 20, e., The sum of the taxable temporary difference belonging to goodwill will decrease from 100 d. E. Up to 80 per. E. With a corresponding decrease in the magnitude of an unrecognized deferred tax liability. This decrease in the magnitude of an unrecognized deferred tax liability is also considered as relating to the initial recognition of this goodwill and, therefore, is not recognized, according to item.

21b Nevertheless, deferred tax liabilities on taxable temporary differences related to goodwill are recognized to the extent that they are not related to the initial recognition of goodwill. For example, if, as a result of the business association, the organization recognizes goodwill in the amount of 100 d., Which is accepted to deduct tax purposes at a rate of 20 percent per year since the year of the acquisition of a business, the tax cost of goodwill will be 100 d. At initial recognition and 80 d e. - as of the end of the year of acquisition. If the carrying cost of goodwill at the end of the year of acquisition does not change and will be 100 d. E., At the end of this year there will be a taxable temporary difference in the amount of 20 d. E. Since this taxable temporary difference does not apply to the initial recognition of goodwill, the resulting deferred tax liability is subject to recognition.

22 The temporary difference may occur with the initial recognition of an asset or obligation, for example, if the initial value of the asset is not taken to deduct the tax purposes in part or completely. The method of accounting for such a temporary difference depends on the nature of the operation, which led to the initial recognition of the relevant asset or obligation:

(a) when combining businesses, the organization recognizes any deferred tax liabilities or assets, and this affects the amount of goodwill or profit from profitable acquisition (see paragraph);

(b) if the operation affects either accounting profit or taxable profit, the organization recognizes any value of a deferred tax liability or an asset, and the appropriate expense or income on deferred tax recognizes the profit or loss (see paragraph);

(c) If the operation is not an association of businesses and does not affect accounting earnings or taxable profit, the organization would have to be - in the absence of the release provided for by clauses and - to recognize the deferred tax liability or an asset and adjust the balance sheet value of the relevant asset or obligation on the same amount. Such adjustments would have made financial statements less transparent. In view of this, this standard does not allow the Organization to recognize arising deferred tax liabilities or assets with neither initial recognition or subsequently (see example below). In addition, the organization does not recognize subsequent changes in the magnitude of an unrecognized deferred tax liability or asset as the specified asset is depreciated.

Example illustrating paragraph 22 (C)

The asset that has the initial cost of 1,000, the organization plans to use throughout the five-year period of its useful use, followed by disposal of a liquidation value equal to zero. The tax rate is 40%. Depreciation of the asset is not accepted to deduct tax purposes. Profit or loss that will arise when disposing of an asset will not be subject to taxing or deductible for tax goals.

As the balance sheet value of the asset is reimbursed, the organization will receive a taxable income, which will be 1,000, and pay a tax that will be 400. An arranged deferred tax liability in the amount of 400 organization does not recognize because it arises in connection with the initial recognition of the asset.

The next year, the carrying amount of the asset is 800. The organization will pay a tax in the amount of 320. The organization does not recognize the deferred tax liability in the amount of 320, since it arises in connection with the initial recognition of the asset.

24 The deferred tax asset should be recognized in respect of all subtractable time differences to the extent that the presence of taxable profits is subject to which one can consider the subtracted temporary difference, except when this deferred tax asset arises as a result of the initial recognition of an asset or commitment due to Operations that:

(a) is not an association of businesses; and

(b) At the time of its commission, it does not affect any accounting profit, nor on taxable profit (tax loss).

However, in relation to subtracted temporary differences related to investments in subsidiaries, branches and associate organizations, as well as with shared entrepreneurship participation, deferred tax asset is recognized in accordance with paragraph.

25 The very recognition of the obligation assumes that its balance sheet value will be repaid in future periods through the outflow from the organization of resources entering into economic benefits. When resources outflow occurs from the organization, it is possible that their cost, partially or completely, will be taken to deduct when determining the taxable profits of a later period than the one in which this commitment was recognized. In such cases, there is a temporary difference between the book value of the obligations and its tax cost. Consequently, a deferred tax asset arises against income taxes, which will be reimbursed in future periods, in which the relevant part of the obligation can be subtracted when determining taxable profits. Similarly, if the carrying amount of the asset is less than its tax value, the difference leads to a deferred tax assets against income taxes that will be subject to refund in future periods.

Example

The organization recognizes an obligation in the amount of 100 for the accrued costs for the provisions of the Warranty on products. The costs of fulfilling warranty obligations are not subject to deduction for tax purposes until the organization makes appropriate payments. The tax rate is 25%.

The tax value of this obligation is zero (book value in the amount of 100 minus amount that will be subject to deduction in tax purposes regarding this obligation in future periods). When repaying the obligation to its book value, the organization will reduce its future taxable profit by 100 and, therefore, reduce its future tax payments at 25 (100 at a rate of 25%). The difference between the book value of 100, and the tax value equal to zero is a subtracted temporary difference in the amount of 100. Therefore, the organization recognizes a deferred tax asset in the amount of 25 (100 at a rate of 25%), provided that it is likely to receive an organization in Future periods of taxable profits are sufficient to take advantage of the possibility of reducing tax payments.

26 Below are examples of subtractable temporary differences leading to the appellation tax assets:

(a) Pension program costs can be deducted in determining accounting profits as the service is provided to the employee, but to be deductible when determining taxable profits only when the organization or lists contributions to pension Fundor pays pensions to employees. There is a temporary difference between the book value of this obligation and its tax value. The tax value of such an obligation is usually equal to zero. Such subtracted temporary difference leads to a deferred tax asset, since the organization will receive economic benefits in the form of deduction from taxable profits at the time of transferring contributions or paying pensions.

(b) Studies are recognized as expenses in determining accounting profits in the period of their occurrence, but it is possible that they will be taken to deduct when determining the taxable profits (tax loss) only in a later period. The difference between the tax value of these costs for research, which is the amount that tax authorities will allow subtracting in future periods, and their book value equal to zero is a subtracted temporary difference leading to a deferred tax asset.

(c) For some exceptions, identifiable assets and liabilities acquired and accepted in business union, an organization recognizes at their fair value at the date of purchase. If this or that the adopted obligation is recognized as a date of purchase, but the relevant costs will be taken to deduct when determining the taxable profit only in a later period, a subtracted temporary difference arises, which leads to the formation of a deferred tax asset. A deferred tax asset also arises when the fair value of an identifiable asset is less than its tax value. And in the fact, and in another case, the emerging deferred tax asset affects the magnitude of Goodwil (see paragraph).

(d) Some assets can be taken into account at fair value or revalued without similar adjustment of their value for tax purposes (see paragraph). The subtracted temporary difference occurs if the tax value of such an asset exceeds its balance sheet value.

Example illustrating paragraph 26 (D)

Determining the subtractable time difference at the end of the year 2:

At the beginning of the year, 1 Organization A acquires for 1,000 d. E. Debt tool with a nominal value of 1,000 d. E., Which is subject to pay upon the maturity date after 5 years, with a percentage rate of 2%, the percentage in accordance with which is paid at the end Each year. An efficient interest rate is 2%. Debt tool is estimated at fair value.

At the end of the year 2 as a result of an increase in market interest rates Up to 5%, the fair value of the debt tool decreased to 918 d. If the organization A will continue to hold a debt tool, then the receipt of all cash flows provided by the contract is likely.

Profit (losses) on the debt instrument are taxable (subtracted) only if they are implemented. Profits (losses) arising from the sale or repayment of the debt tool are calculated for tax purposes as the difference between the amount received and the initial value of the debt tool.

Accordingly, the tax base of the debt tool is its initial value.

The difference between the book value of the debt tool in the statement of financial position of the organization A in the amount of 918 d. And its tax base in the amount of 1,000, e. Causes the occurrence of a subtracted temporary difference in the amount of 82 d. At the end of the year 2 (see . Points and), regardless of whether the organization A is expected to compensate for the balance sheet value of the debt tool through the sale or use (i.e. its retention and receipt of cash flows provided for by the contract), or by combining and the other.

This is due to the fact that subtracted temporary differences are the differences between the book value of the asset or obligations in the statement of financial position and its tax base, leading to the amounts that are subtracted when determining the taxable profit (tax loss) of future periods in which the balance sheet value of the asset or Obligations compensated or repaid (see paragraph). When determining the taxable profit (tax loss) in the case of the sale or repayment of the asset, the organization A receives a deduction equivalent to its tax base in the amount of 1,000 d. E.

27 Restoration of subtracted temporary differences leads to deductions in determining the taxable profits of future periods. However, the economic benefits in the form of a decrease in tax payments will be available only in case of obtaining sufficient taxable profits, against which the amount of these deductions can be considered. Consequently, the organization recognizes deferred tax assets only if it is likely to have taxable profits against which it is possible to consider subtracted temporary differences.

27A When an organization evaluates the availability of taxable profits, against which it can account for a subtracted temporary difference, it takes into account whether the tax legislation limits the sources of taxable profits against which it can make deductions when restoring such a subtracted time difference. If tax legislation does not provide for such restrictions, the Organization assesses the subtracted temporary difference in aggregate with all other subtractable time differences. However, if the legislation restricts the credibility of the deduction of the income of a certain type, the subtracted temporary difference is estimated only in combination with other subtracted temporal differences of a particular species.

28 It is believed that the presence of taxable profits against which it is possible to consider the subtracted temporary difference, it is likely that there are taxable temporary differences in a sufficient amount relating to the same tax authority and the same organization whose operation is taxed, which is expected to be restored:

(a) in the same period in which the restoration of the subsequent time difference is expected; or

(b) In periods that can be transferred from previous or subsequent periods, a tax loss in respect of which a deferred tax asset was recognized.

Under such circumstances, the deferred tax asset is recognized in that period in which subtractable time differences occur.

29 In the absence of sufficient volume of taxable temporary differences relating to the same tax authority and to the same organization, the operation of which is taxed, the deferred tax asset is recognized to the extent that:

(a) Probably the organization of sufficient taxable profits relating to the same tax authority and the same organization itself, the operation of which is taxed, in the same period in which the restoration of the subtracted temporary difference will be restored (or in periods that may be Transferred from previous or subsequent periods of a tax loss for which a deferred tax asset was recognized). In assessing the prospects for sufficient taxable income in future periods, the organization:

(i) compares subtractable temporary differences with future taxable profit, which eliminates tax deductionsdue to the restoration of these subtracted temporary differences. Such a comparison shows a degree in which future taxable profits will be enough to ensure that the organization has detected the amount due to the restoration of these subtractable time differences;

(ii) does not take into account taxable amounts arising from subtracted temporary differences, the emergence of which is expected in future periods, since this deferred tax asset itself arising from the specified subtractable time differences will require for its use of future taxable profits;

(b) The organization has tax planning capabilities that will ensure taxable profits in relevant periods.

29a Assessment of a probable future taxable profit may provide for the reimbursement of some assets of the organization in the amount exceeding their balance sheet value, if there is sufficient evidence of the likelihood of its organization. For example, in the case when an asset is estimated at fair value, the organization must analyze whether there are sufficient evidence to withdraw that the reimbursement of an asset organization in an amount exceeding its balance sheet value is likely. This may occur, for example, in the case when an organization involves keeping a fixed-rack debt tool and receive provided by the contract cash flows.

30 The possibilities of tax planning are actions that may be undertaken by the organization to create or increase taxable profit under a certain period before the expiration of the term during which the tax loss or tax break is allowed to be used. For example, in some jurisdictions, the creation or increase in taxable profits is possible due to:

(a) Selecting one of two options for the taxation of interest income: either by the method of accrual, i.e. in the amount of accrued interest, or at the cash method, i.e. in the amount of interest obtained;

(b) deferred to obtain certain deductions from taxable profits;

(c) sales and, possibly, the return lease of assets, the cost of which has increased, but their tax cost has not been adjusted in order to reflect such an increase; and

(d) the sale of an asset generating incorrect income (for example, in some jurisdictions, state bonds include), in order to acquire another investment generating taxable income.

If the application of tax planning mechanisms leads to the transfer of taxable profits from later to an earlier period, the possibility of using a tax loss or tax breaks is still depends on the availability of future taxable profits, the source of which is not the future of the occurrence of temporary differences.

31 If in the recent past the organization had losses, the organization should be guided by paragraphs and.

32 [Removen]

Goodwill

32A If the carrying cost of goodwill arising from the union of businesses is less than its tax value, this difference leads to a deferred tax asset. A deferred tax asset arising from the initial recognition of goodwill should be recognized as part of the accounting of business association to the extent that the presence in the future of taxable profits against which this subtracted temporary difference can be considered.

Initial recognition of asset or commitment

33 One of the cases of a deferred tax asset at the initial recognition of the asset is the situation when the state-taxable state subsidy belonging to the asset is deducted when calculating the book value of this asset, but the tax goals are not subtracted from the amortized value of this asset (that is, from its tax value). The carrying amount of the specified asset is less than its tax value, which leads to the emergence of a subtracted temporary difference. State subsidies may also be submitted in the reporting as a deferred income, and in this case the difference between deferred income and its tax value equal to zero is a subsequent temporary difference. Whatever the way of the presentation is not chosen by the organization, it does not recognize the resulting deferred tax asset for the reasons specified in paragraph.

Unused tax losses and unused tax breaks

34 Deferred tax asset should be recognized in relation to future periods of unused tax losses and unused tax benefits to the extent that the existence of future taxable profits is due to which these unused tax losses and unused tax breaks can be bred.

35 Criteria for recognizing deferred tax assets arising from transferring unused tax losses and tax benefits to future periods, similar to the criteria for recognizing deferred tax assets arising from subtracted temporary differences. Nevertheless, the presence of unused tax losses is a good confirmation that future taxable profits may not be. Therefore, if an organization has losses in the recent past, it recognizes a deferred tax asset regarding unused tax losses or tax benefits only to the extent that the organization has sufficient taxable temporary differences or there is a different convincing evidence that in the future will arise Sufficient taxable profits against which the organization will be able to consider unused tax losses or unused tax breaks. Under such circumstances, the clause requires disclosure of information on the sum of this deferred tax asset and the nature of the certificate, on the basis of which it was recognized.

36 When assessing the likelihood of taxable profits, against which unused tax losses can be bred or unused tax breaks, the organization takes into account the following criteria:

(a) Does this organization have sufficient taxable temporary differences related to the same tax authority and to the same organization itself, the operation of which are taxed, which will lead to taxable amounts against which unused tax losses or unused tax breaks before their expiration;

(b) whether the emergence of this organization of taxable profits is likely before the expires the validity of unused tax losses or unused tax benefits;

(c) whether unused tax losses are due to identifiable reasons, the re-emergence of which is unlikely; and

(d) Does the organization have a tax planning opportunity (see paragraph), which will lead to the formation of taxable profits in which it will be possible to pay unused tax losses or unused tax breaks.

To the extent that the availability of taxable profits, against which it is possible to borrow unused tax losses or unused tax breaks, is not likely, the deferred tax asset is not recognized.

Re-evaluation of unrecognized deferred tax assets

37 At the end of each reporting period, the organization re-evaluates unrecognized deferred tax assets. The organization recognizes one or another previously recognized deferred tax asset to the extent that the future taxable profit becomes possible to compensate this deferred tax asset. For example, improving trade conditions can increase the likelihood that an organization in the future will be able to obtain sufficient taxable profits in order for the deferred tax asset to meet the criteria for the recognition set out in paragraph or. Another example is the situation when the organization re-evaluates postponed tax assets at the date of uniting businesses or at a later date (see paragraphs and).

Investments in subsidiaries, branches, associated organizations and shares in joint venture

38 Temporary differences arise when the carrying value of investments in subsidiaries, branches and associated organizations or shares in joint venture (namely shareholders of the parent organization or investor in pure assets of a subsidiary, a branch associated with an organization or an object of investment, including the balance value of Goodwil) It becomes different from the tax value (often equal in the initial value) of this investment or participation share. Such differences may arise in a number of different circumstances, for example:

(a) in case of the existence of retained earnings of subsidiaries, branches, associated organizations or joint ventures;

(b) in case of change exchange rateswhen the maternal organization and its subsidiary are in different countriesoh; and

(c) In the event of a reduction in the carrying amount of investments in an associate organization to its recoverable amount.

In the consolidated financial statements, the temporary difference in relation to the investment may differ from the temporary difference in this investment in the individual financial statements of the parent organization, if in its separate financial statements the maternal organization takes into account the specified investment at the initial value or overwilling value.

39 Organization should recognize a deferred tax obligation for all taxable temporary differences related to investments in subsidiaries, branches associated organizations and shared participation in joint venture, with the exception of situations where both are being carried out. following conditions:

(a) this organization, which is a parent organization, an investor, a participant in a joint venture or a participant in a joint operation, is able to control the period of restoration of the corresponding temporary difference; and

(b) It is likely that in the foreseeable future this temporary difference will not be restored.

40 Since the parent organization controls the policy of a subsidiary against dividends, it is able to control the time limits for the restoration of temporary differences related to this investment (including temporary differences arising not only for retained earnings, but also in relation to exchange differences from currency recalculation). In addition, in many cases it will be practically impossible to determine the amount of income taxes, which would be paid at the time of restoring this time difference. Consequently, if the parent organization determined that this profit will not be distributed in the foreseeable future, it does not recognize a deferred tax liability. The same approach applies to investments in branches.

41 Non-purpose assets and organization commitments are assessed in its functional currency (see IAS 21 "Influence of Currency Changes"). If the taxable profit or tax loss of the organization (and, consequently, the tax value of its non-monetary assets and liabilities) is determined in other currency, changes in the relevant exchange rate lead to the emergence of temporary differences in respect of which a deferred tax liability is recognized or (taking into account the paragraph) asset. The amount of the deferred tax that has arisen is recognized in profit or loss on the debit or on the loan (see paragraph).

42 Investor, who has a stake in an associate organization, does not control the specified organization and is usually not able to identify its dividend policies. Therefore, in the absence of an agreement establishing a ban on the distribution of the associated organization in the foreseeable future, the investor recognizes a deferred tax obligation to taxable temporary differences related to its investment in an associate organization. In some cases, it is possible that the investor is not able to determine the amount of tax, which would be paid when reimbursement of the initial value of its investment in the associate organization, but can determine that the amount of tax will not less than some minimum value. In such cases, the deferred tax liability is estimated in this magnitude.

43 Agreement between participants in joint venture usually regulates profit distribution and determines whether the consent of all parties or any group of parties is required to solve such issues. If a participant in a joint venture or a participant in joint operations can control the timing of the distribution of its share in the profit of the joint entrepreneurship object and at the same time, it is likely that in the foreseeable future his share of profit will not be distributed, the deferred tax liability is not recognized.

44 Organization should recognize a deferred tax asset regarding all subtracted temporary differences arising from investment in subsidiaries, branches and associated organizations, as well as a share of participation in joint venture to the extent and only to the extent that is likely that:

(a) The temporary difference will be restored in the foreseeable future; and

(b) A taxable profit will arise, against which it will be possible to consider the corresponding temporary difference.

45 When deciding on the recognition of a deferred tax assets against subtracted temporary differences related to its investments in subsidiaries, branches and associate organizations, as well as its sharing of participation in joint venture, the organization takes into account the instructions set out in paragraphs.

This standard is associated directly taking into account deferred tax payments. The existence of this standard is due to one of the basic principles of compiling financial statements - the principle of accrual, which allows companies to recognize future payments (taxes and other mandatory payments), if they are based on annually conducting operations and are constant.

Previously (before the standard revision ) There were several ways to determine deferred taxes, however, the revised and entered into force in 1998, IFRS 12 proposes as the most rational so-called method of balance sheet.

To understand the essence of the method, first of all, it is necessary to have an idea of \u200b\u200bthe book value of the asset and the tax base of the asset or obligation. Balance value of asset or commitment Determined by the company itself, provided that it can be estimated with a large probability. The tax base - This is a real value of an asset or obligation that serves for tax purposes. The difference between the book value and the tax base or the obligations of IFRS-12 determines as a constantly arising difference that affects the amount of deferred payments. There are also temporarily emerging unpredictable differences that do not affect deferred tax payments.

If the book value exceeds the tax base, then such a difference increases the amount of deferred taxes. In this case, a reserve must be provided for this deferred tax.

If the tax base exceeds the estimated value, then this difference reduces the amount of deferred taxes; At the same time, this deferred tax is reflected in the financial statements.

Consider the concepts tax base assets and tax base obligations.

Tax base of assets - This is the cost of assets, excluded from taxation in the future, minus tax liabilities that will arise from the company when this asset actually appears.

Tax base obligations It is its book value minus amounts not subject to taxation in the event of this obligation in the future.

Delayed tax obligations should be recognized for all taxable differences - in other words, this standard prescribes the creation of reserves for all deferred taxes. As for assets on deferred tax, they are considered only if there is a large proportion of probability in making a profit from which these assets will be deducted.

IFRS-12 provides for the need for accounting not only to pay or, on the contrary, reimbursement, but also tax consequences of transactions and other events in the company's economic activity. In this regard, there are such new concepts for us as deferred tax liabilities and deferred tax requirements.

Their appearance is explained by the fact that international Standards Financial reporting establishes the rules for recognizing income and expenses and, therefore, the rules for their reflection in total profit (loss) for the reporting period, which differ from the rules for incoming income and expenses in taxable profit (loss). Most often does not coincide the time of their recognition in the financial statements and the time of their inclusion in taxable indicators. But there are such income and expenses that are not included in taxable profit, and vice versa, there are such income and expenses that are not taken into account in the income statement, but include, for example, on equity accounts, but at the same time are included in taxable profits. . IFRS establishes uniform for all rules for recognizing income and expenses in total profit of any organizations, and national tax legislation differs significantly in different countries, which creates additional difficulties to recognize in the financial statements of deferred tax liabilities and requirements.

The approach difference in determining the accounting income tax and taxable profits should be taken into account in the financial statements. At the same time, all arising temporary (and other) differences should be revealed; It is designed and reflected in the reporting any of their discrepancy with the sum of the current accrual of income tax and the calculated current value of taxable profits (loss).

Deferred tax liabilities - These are the amounts of income tax payable in future reporting periods and arising from the accrual of taxable temporary differences. In general, they are recognized by reducing the net profit of the reporting period or reduce the amount own capital and reflections in the reporting balance sheet "Deferred tax liabilities".

Deferred tax requirements - These are the amounts of income tax to be reimbursed in future reporting periods and arising in connection with the presence of subtracted temporary differences and some other circumstances. In general, they are recognized due to a decrease in income tax in income or increasing the amount of equity and reflection in the reporting balance sheet "Accounts receivable on deferred tax requirements".

Temporary differences Between the book value of the asset or obligations and their tax base are determined at the book value, and not on the amount of income tax arising from these differences.

Temporary differences in their essence are divided into taxable and subtracted.

Taxable temporary differences They are called such that lead to the emergence of taxable amounts in determining taxable profits or a tax loss in future reporting periods on the fact of compensation or repayment of the book value of the asset or obligation.

Taxable profit (tax loss) is the amount of profit (loss) for the period calculated by the rules of taxation established to determine income tax. Costs for income tax or reimbursement is called the total amount of the current and deferred tax included in the calculation of net profit (loss) for the reporting period.

Subtracted temporary differences They are called those that are subtracted in the calculations of the taxable profits or the tax loss of future reporting periods after compensation or repayment of the book value of the asset or obligation.

Current and deferred taxes must be recognized as an income or consumption and are included in profit or loss in this reporting periodIf they do not have to admit on capital account. If the current or deferred tax refers directly to those articles that in this or other reporting period were reflected in the capital account, then the amount of taxes also relate to the debit or credit of capital accounts.

Financial statements should disclose the following information regarding deferred taxes:

• major components of tax payments;
• current and deferred payments reflected both in the assets section and in the obligations section;
• classification of constantly emerging and unforeseen differences;
• deferred assets and income tax obligations;
• explanations of changes in tax rates compared to the previous reporting period, if there was such a place;
• the total amount of constant differences arising from subsidiaries and affiliates.

Profit tax (Income Tax) is one of the most common types of taxes paid by commercial companies. Profit tax is a direct tax (charged by the state directly from the income or property of the taxpayer), charged from the organization's profits (enterprises, bank, insurance company, etc.). Profit for the purposes of this tax, as a rule, is defined as income from the company's activities minus the amount of established deductions and discounts. The deductions include: industrial, commercial, transport costs; Debt interest; advertising costs and representation; Expenditures on research work.

In Russia, the tax is valid since 1992. Originally was called the "income tax", from January 1, 2002, he was regulated by chapter 25 of the Tax Code of the Russian Federation and is officially called "the income tax".

The base rate is 20% (until January 1, 2009 amounted to 24%): 2% is credited to federal budget18% - credited to the budgets of subjects Russian Federation.

Taxpayers at the end of the reporting period are of the tax declarations of the simplified form. Non-commercial organizations that have no obligations to pay for tax represent the tax declaration on simplified form after the expiration of the tax period (clause 2 of Article 289 of the Code).

Income tax declarations are submitted at the outcome of the reporting period no later than 28 days from the date of the relevant reporting period (I quarter, the first half of the year, 9 months), according to the results of the tax period - no later than March 28 of the year following the expired tax period (year ) (p. 3, clause 4 of article 289 of the Code).

Taxpayers, calculating the amount of monthly advance payments on actually received profits, represent tax returns no later than 28 calendar days Since the end of the reporting period (1, 2, 3, 4 ... 11 months).

Problems of accounting for payments for this tax are in many ways similar to different countries. The main issue of income tax accounting is to reflect not only current, but also future tax liabilities that will arise due to the reimbursement of the value of assets or repayment of the obligations included in the balance sheet at the reporting date. That is, the reimbursement of the value of any asset or the settlement of some obligation will lead to an increase or decrease in tax payments in future periods.

IN Russian legislation The following accounting position is used. PBU 18/02 "Accounting for income tax payments" was introduced by the order of the Ministry of Finance of November 19, 2002 N 114n. The standard establishes the formation rules in accounting and disclosure procedure in accounting reporting information on income tax calculations for organizations recognized in the procedure established by the legislation of the Russian Federation by taxpayers for income tax (except for credit, insurance organizations and budgetary institutions). The document determines the relationship of the indicator reflecting the profit (loss), calculated in the manner prescribed by the regulatory legal acts on accounting of the Russian Federation and the tax base for income tax for the reporting period, calculated in the manner prescribed by the legislation of the Russian Federation on taxes and fees. In international practice, the standard of 12 IFRS "Taxes on Profit" is used. They are provided general order Reflections in the financial statements of income tax calculations.

It must be borne in mind that the Ministry of Finance of Russia has developed PBU 18 on the basis of the previous version of IFRS 12. The last standard only since 1998 has changed significantly four times. Latest edition IFRS 12 was in 2007. And if modern IFRS 12 is based on a balance approach, then the method of obligations is still described in PBU 18/02. However, the results of calculations of deferred taxes with both methods should be the same. it required condition Successful transformation of reporting from RAS in IFRS.

Purpose of this term paper - learn IFRS 12 "income taxes" and produce comparative analysis This standard and PBUs 18/02 "Accounting for the income tax calculations."

1.1 Objective and Scope of Application of Standard

In international standards tax differences Determined as differences in the book value of assets and liabilities and their tax base. On their basis, the final amount of deferred taxes is calculated.

Balance value (BS) asset or obligations - this is the amount in which an asset or commitment is taken into account in accounting balance. Under the tax base (NB) asset or obligation is understood to be their value taken for tax purposes.

According to the balance sheet method, the company's financial statements should reflect: tax consequences reporting period (current income tax); Future tax consequences (deferred taxes).

The IAS 12 task corresponds to the general objectives of international standards: provide reliable information to interested users. Since income tax affects cash outflows and the amount of financial results, it must be accurately calculated and reflected in the reporting. For users financial information Not only current, but also the future tax consequences of operations, which the company conducted during the reporting period, as well as the impact, which will give the income tax repayment and reimbursement of assets in future periods.

This standard requires that the company takes into account the tax consequences of transactions and other events in the same way as it takes into account these transactions themselves and events. Thus, the tax consequences of transactions and other events recognized in the income statement are reflected in the same report. Tax consequences of transactions and other events recognized directly in capital are also reflected directly in capital. Similarly, the recognition of deferred tax claims and obligations in the association of companies affects the amount of positive or negative business reputation arising from this union. This standard also applies to the recognition of deferred tax claims arising from incomprehensible tax losses or unused tax loans, presenting information on income taxes in financial statements and disclosure of information related to income tax.

For the purposes of this Standard, income taxes include all national and foreign taxes, the base for which is taxable income. Profit taxes also include taxes as the tax held by the source, which are paid by a subsidiary associated with a company or joint venture on income distributed by the reporting company. In some jurisdictions, income taxes are paid at a higher or lower rate, if part or all net profit or retained earnings are paid as dividends. In some other jurisdictions, income taxes can be returned if part or all net profit or retained earnings are paid as dividends. This standard does not specify when or as a company should take into account the tax consequences of dividends and other forms of profit distributions made by the reporting company. This standard does not concern the methods of accounting for government subsidies (see IFRS 20, the accounting of government subsidies and disclosure of information about government assistance) or an investment tax credit. but real Standard It concerns the accounting of temporary differences, which may be the result of this kind of subsidies or investment tax loans.

1.2 The emergence of temporary differences in IFRS

The difference between the book value (BS) of the asset or obligations and their tax base (NB) is called temporary (BP).

BP \u003d BS - NB

Temporary differences can be:

· Taxable temporary differences (NWR) which are temporary differences leading to taxable amounts in future periods, when reimbursed (redeemed) the carrying amount of the asset or obligation; or

· Submitted temporary differences (VD), which are temporary differences, resulting in the arising from the amounts submitted when calculating taxable profits (tax loss) in the following tax periods When reimbursing (repaying) the book value of the asset or obligation.

Temporary differences

(Balance Cost - Tax Base)

Subdued (VD) x Forecast income tax rate \u003d deferred tax assets (it \u003d VVV tax rate)

BS asset< НБ актива, или БС обязательства > NB obligations

Taxable (NVR) x Forecast income tax rate \u003d deferred tax liabilities (it \u003d NVR X Tax Bet)

BS asset\u003e NB asset, or BS obligations< НБ обязательства

Where, BS - Balance Cost, NB - Tax Base

She is deferred tax assets, it is deferred tax obligations.

The difference between the book value of the asset (obligations) and its value defined for tax purposes, i.e. Temporary difference is leveled over time.

The tax base (NB) is the amount according to which an asset or commitment is taken into account for tax purposes.

The tax base of the asset is the amount that will be recognized as consumption for tax purposes and is deducted from any taxable income received by the company when it compensate for the balance sheet value of the asset. At the same time, if economic benefits are not taxed, the tax base of the asset equals its carrying value.

Recognition of the effect of future tax consequences leads to the emergence of deferred tax liabilities in the financial statements of deferred tax assets (it) and deferred tax assets (it).

Deferred tax assets - These are the amount of income tax to be reimbursed in subsequent tax periods regarding:

1. subtracted temporary differences,

2. transferred to the future period of undetected tax losses,

3. Moved to the future period of unused tax credits.

Deferred tax liabilities - These are the amounts of income tax payable in future periods due to taxable temporary differences.

It is recognized for all taxable temporary differences, except in cases where the differences arise as a result of the initial recognition of an asset or obligations as a result economic operationWhich:

1. Is not a business association; and

2. At the time of implementation, it does not affect the accounting or taxable profit (loss).

Deferred tax liabilities are calculated as a product of the taxable temporary difference and the forecast rate of income tax, which is an income tax rate that will be applied in the period when a temporary difference will be repaired.

It \u003d NVR X Forecast Tax Bet

At the same time, the taxable temporary difference occurs when:

BS asset\u003e NB asset, or

BS obligations< НБ обязательства

Accrual for a deferred tax liability, as a rule, is made by the following accounting record:

Dt sch. Income tax expenses

However, if the taxable temporary difference is associated with the temporary difference arising as a result of the accuracy of assets at a fair value, attributable directly to an increase in capital - the reassessment reserve, the source of accrual on the deferred tax liability is the capital account:

Dt sch. Reserve revaluation amount

Kt sch. Delayed Tax Obligation

A deferred tax asset is recognized in relation to all subtracted temporary differences, to the extent that there is confidence in the sufficiency of taxable profits for their use, except in cases where the initial recognition of an asset or obligation as a result of an operation, which:

1. Not a business association,

2. At the time of the operation, there is no influence on the accounting or taxable profit (loss).

It \u003d VVD X is the expense rate of tax.

In this case, the subtracted temporary difference occurs when:

BS asset< НБ актива, или

BS Obligation\u003e NB Obligation

Accrual It is made by the following accounting record:

Dt sch. Asset for deferred tax

Kt sch. Costs for payment of income tax amount

The conditions for the occurrence of it and it are presented in Table. one .

Table 1 Definition of deferred taxes Balance method

1.3 Calculation and reflection in the reporting of income taxes in IFRS

In international regulation, the following components of income tax allocate.

1. Current tax - This is the amount of income taxes for payment (to compensation) for taxable profits (loss taken into account in taxation) for the period.

Tn \u003d np x current income tax rate

The current tax is reflected in the tax declaration as a sum of payment (refund) for the reporting period and can be both positive and negative.

Current tax on the current debt to the income tax budget reflected in the accounts should be distinguished accounting.

In the balance sheet it is reflected as short-term obligationequal to the unpaid amount, or as short-term assetIf the paid amount exceeds the payable.

Obligations or assets for current tax are calculated in accordance with tax legislation Using rates operating at the reporting date.

2. Pending tax . Deferred income tax (OH) is determined by the amount of changes for the reporting period in the value of assets and deferred tax obligations determined by the balance sheet method.

Delayed income tax consists of the following components:

He \u003d change it + change it

Where, she is a deferred tax asset, it is deferred tax obligations.

Deferred tax assets and liabilities are reflected in the balance sheet separately from other assets and liabilities and are classified as long-term articles. When they are evaluated, the tax rate should be applied, which will exist at the time of the implementation of this asset or repayment of the obligation. If the change in the tax rate in the future is unknown, then IAS 12 allows the application of the tax rate for the reporting date.

Let's say if from January 1, 2009 there is a decrease in the income tax rate from 24 to 20%, then when drawing up financial statements in 2008, to determine deferred taxes, you need to apply a new tax rate (20%), and the current tax reflects on the current rate ( 24%).

Usually current and deferred taxes are recognized as an income or consumption and are included in pure profit or loss for the period. But if the tax is charged on articles that are directly attributed to the capital account, the amount of taxes arising in connection with this (current and deferred) should be debited or credited directly with the capital account.

Deferred tax assets (obligations) are long-term objects, their repayment period is often calculated in several years. Therefore, specialists sometimes arise the possibility of reflecting the discounted amount of deferred taxes in the reporting. The current IAS 12 prohibits discounting deferred taxes.

When calculating the current income tax in IFRS reporting, the amount of this tax for the reporting period, calculated according to the rules tax accounting and transferred to account on the loan of the account "Current Income Tax" and the Debit of the Profit and Loss Account. ON RAS is based on accounting profits and reflected adjustments. This calculation is shown in Ap.

When calculating it and it is in IFRS (IAS) 12, a balance sheet is used: the tax base of assets and liabilities reflected in the balance sheet, and the difference obtained forms deferred assets and obligations. This technique reflects all future tax consequences that will arise from the company when using assets and repayment of obligations reflected in the balance sheet at the end of the current period, but does not show the procedure for calculating the current income tax in the accounting statements. In our example 3 in the company, it usually arises due to the difference in the amounts of tax and accounting depreciation, the benefits of losses of past years, losses from the implementation of the OS, and it is due to the difference in recognizing the costs of acquiring software products and the rights of use of intellectual property objects, differences in repayment of expenditures of future periods and depreciation of the OS.

In international regulation, deferred tax assets and liabilities are allowed. In reports clean amount Deferred taxes are reflected only when the organization has the right to reduce current (real) tax liabilities on the amount of current tax assets and when deferred taxes relate to the income tax established by the same legislation.

3. Profit Tax (tax payments or income from tax reimbursement), affecting the income statement, is the total value in which the current income tax is included and the amount of deferred taxes for the period.

Np \u003d tn + he

IAS 12 requires not only to reflect the amount of income tax in Apa, but also to disclose its main components (current and deferred taxes related to the emergence and repayment in the reporting period of temporary differences).

In addition, income tax may include the amount of deferred tax that arose in connection with the change in the tax rate, clarifying the assessment of deferred tax assets, recognizing postponed assets under losses of past years, adjusting accounting policies.

2.1 The emergence of temporary differences

Example 1.

Alpha in accordance with the Accounting Policy creates a reserve for warranty service. In 2008, a reserve was created in the amount of 60,000 rubles, the costs of warranty service amounted to 20,000 rubles. Profit tax rate - 20%. The tax accounting for deductions includes the actual amount of costs for warranty repairs.

In the balance sheet at the end of 2008, the obligation will be reflected in the line "Reserve for warranty service" in the amount of 40,000 rubles. (60 000 - 20 000). The tax base of the reserve will be zero.

Balance value of the obligation is more than its tax base, therefore the subtracted temporary difference occurs in the amount of 40,000 rubles. (40 000 - 0). Thus, the deposited tax asset in the amount of 8,000 rubles is recognized in the account. (40 000 x 20%).

Dt delayed tax asset 8 000

Kt expenses for deferred taxes 8 000

Example 2.

The initial cost of the equipment of Alpha on December 31, 2000 is 70,000 rubles, the amount of accumulated wear is 20,000 rubles. The amount of accumulated depreciation for tax purposes is 30,000 rubles.

Profit tax rate - 20%.

In this case, in the balance sheet, the cost of equipment at the end of 2009 will be 50,000 rubles, and the tax base of the asset is 40,000 rubles. Since the Asset BS is more of its tax base, then the taxable temporary difference occurs in the amount of 10,000 rubles. (50 000 - 40 000) and in accounting recognized a deferred tax liability in the amount of 2000 rubles. (10,000 x 20%). Reflection of operations in accounting (rub.):

Dt spending taxes 2000

KF deferred tax liability 2000

When reimbursing the carrying amount of the asset in subsequent periods, Alpha will pay a profit tax in the amount of 2000 rubles.

2.2 Deferred tax

Example 3.

Alpha in 2008 conducted a revaluation of fixed assets. The amount of the reach amounted to 50,000 rubles. Profit tax rate - 20%. In the tax accounting, the revaluation is not recognized, so the taxable temporary difference arises in the amount of 50,000 rubles. and deferred tax liability in the amount of 10,000 rubles. (50,000 x 20%).

Reflection of operations in accounting (rub.):

Revaluation

Dt fixed means 50 000

Kt Reserve for the revaluation of fixed assets 50 000

Recognition of deferred capital tax

Dt Reserve for the revaluation of fixed assets 10 000

K, deferred tax liability 10 000

2.3 income tax

Example 4.

Current tax on the profit of Alpha for 2008 is 1000 rubles. The balance on a deferred tax liability for last year is 2000 rubles.

At the end of the reporting period, the carrying amount of the company's assets exceeded their taxable base by 20,000 rubles. Profit tax rate - 20%.

According to the condition of the example, the taxable temporary difference will be 20,000 rubles, it is 4000 rubles. (20,000 x 20%), increasing deferred tax - 2000 rubles. (4000 - 2000).

Profit tax in Appendix in 2008 will be 3000 rubles. (1000 + 2000) (Table 2).

Table 2 Fragment of financial statements for 2008 with a reflection of income tax components

It is no secret that many norms russian provisions Accounting is borrowed from international standards. PBU 18/02 "Accounting for income tax calculations" No exception: its prototype - IFRS 12 "income taxes." However, in detailed consideration, it turns out that these documents have serious fundamental differences.

The difference between PBU 18/02 and IFRS (IAS) 12 is due to different reporting objectives. The IAS 12 task corresponds to the general objectives of international standards: provide reliable information to interested users. Since income tax affects cash outflows and the amount of financial results, it must be accurately calculated and reflected in the reporting. For users of financial information, not only current, but also future tax consequences of operations, which the company conducted during the reporting period, as well as the impact that will have a tax on the income of the obligations and reimbursement of assets in future periods are important.

The task of PBU 18/02 is to establish the relationship between profits obtained according to accounting and tax accounting. These fundamental differences in order and lead to the difference in methods and results.

3.1 Approach to the allocation of differences

PBU 18/02 highlights two types of differences between accounting and taxable profit: permanent and temporary.

Under constant differences, the position is understood income and expenses that are reflected in accounting and do not participate in the calculation of the taxable income tax base both the reporting and subsequent periods. Multiplying a permanent difference at a profit tax rate gives a constant tax obligation (IFO). In fact, this increase in income tax payments in the reporting period compared with the amount of tax calculated according to the accounting data. The latter in PBU 18/02 is marked as a conditional income (consumption) for income tax. IFRS 12, by the way, does not introduce such a thing, although the account profit and tax from it will certainly appear in international reporting.

IFRS 12 gives a definition of temporary differences. Constant in it separately do not stand out, since the West standard does not prescribe obligatory count them. That is, if the difference is constant, its tax base is made equal to accounting and deferred taxes do not arise. For example, when accrued fines that are not subject to deduction in tax accounting, the tax base of accrued obligations will be equal to their book value.

Interestingly, the concept of a permanent tax asset (PNA) PBU does not consider, although it is necessary to count it. The reason apparently lies in the fact that these cases are quite rare. The PNA is formed when a part of income recognized in accounting is not taken into account for tax purposes. For example, subparagraph II of paragraph I of Article 251 HK of the Russian Federation states that when determining the tax base for income tax in some cases, free of charge received property is not taken into account.

The fact is that the main goal of PBU 18/02 is to link the income tax for the reporting period, which must be transferred to the budget, with the fact that formed according to accounting data. The calculated formula for this is given in position.

Unlike PBU IFRS 12, it does not put its main purpose for the calculation of income tax according to accounting data, although it allows you to cope with this task. After all, in any case, it will not get rid of the need to maintain tax accounting. The main thing in the international standard is the calculation of deferred taxes in order to reflect its only current, but also future tax liabilities and assets. And since constant differences affect financial results Exceptionally the current period, they are simply excluded at the rate.

3.2 Differences in temporary differences

In general, temporary differences are the differences between the results of accounting and tax accounting arising when they do not coincide the moments of recognizing costs or income. Substracted temporary differences arise when accounting costs are recognized earlier, and incomes - later than in tax. The reasons for the occurrence of taxable temporary differences are reverse.

PBU i8 / 02 highlights subtracted and taxable temporary (with an emphasis on the last syllable) difference. The last edition of IFRS 12 puts emphasis in the word "temporary" on the first syllable. Even English-speaking equivalents of these adjectives are different: respectively, Timing and Temporary. This moment is fundamental and due to differences in the calculation methods. In PBU 18/02, a method is used from the standpoint of the profits and loss report, or the operational, in IFRS 12 - the balance sheet, or the method of obligations. This is the main difference between Russian and international standards. And it is due to their different goals, which, in turn, predetermines the audience of users of financial statements.

However, such a fundamental difference looks rather strange, since PBU 18/02 is, in fact, translation from English IFRS 12. The reason for inconsistencies is simple. Developers russian document For incomprehensible reasons, they took the forefront of the international standard, which operated until January 1, 1998. It was in it an approach was applied from the standpoint of profit and loss report. New edition IFRS 12 uses a balanced method.

When comparing international and Russian standards, it is worth paying attention to another important point - confusion with terminology in PBU 18/02. According to IFRS 12, deferred tax assets and liabilities (deferred taxes) are shown in the balance sheet as such in absolute terms at the reporting date, and in the income statement - their change for the period, which is logical. This was what it was written in the old edition of IFRS 12. If you literally read the wording of PBU 18/02, deferred taxes in form number 2 are reflected in absolute terms, although in fact they are still due to their changes.

3.3 Features of the operational method of PBU 18/02. Features of the balance approach in standard 12 IFRS

Russian PBU 18/02 is suitable for deferred taxation from the standpoint of income and expenses. Our standard suggests that the enterprise must constantly monitor all the differences arising between accounting and tax accounting. And it is necessary, first of all, to calculate the current income tax and linking accounting This indicator with its tax base, and not to calculate deferred taxes. After all, the main user of accounting reporting in our country remains government agencies. That is, institutions that are by their nature do not take management decisions, but control their initiators.

Does not bring high benefits of PBU 18/02 and accountants. After all, it does not allow you to calculate the database for the income tax filed by the accountant, thus having rid of the company from the need to conduct separate accounting on income tax: data for postings on PBU 18/02 will still have to take from tax registers.

In contrast to PBU 18/02, deferred assets and commitments under IFRS 12 arise when comparing balance sheets - accounting and so-called tax per reporting date. The first includes assets, obligations, capital in estimates in accordance with IFRS. In the second - all the same, assessed in accordance with tax legislation. Thus, the essence of the carrying approach is to calculate the difference between the balance sheet assessment of assets and liabilities and their value for tax purposes. Note that this approach underlies not only IFRS, but also US GAAP.

In accordance with IFRS, the main goal of financial statements - to provide users with information for adoption economic decisions. First of all, we are talking about owners and investors of the company. They are interested in whether it will be able to pay dividends, interest, repay loans, etc. And it depends on the income and expenses of the company in the future, including from the upcoming tax payments. Therefore, if the future value of income tax can be reliably predicted, it should be reflected in the reporting of the company. And the easiest way to achieve exactly the balance method is.

The reflection algorithm in the reporting of deferred taxation is the balance sheet method of five steps. The first is to define the book value of all assets and obligations under the rules of IFRS. The second is the calculation of their tax value by tax rulesacting on the territory of the location of the company, for Russia - in accordance with the Tax Code of the Russian Federation. The third step is to define the temporary difference by subtracting from the tax value of the asset or obligations of its book value. If the carrying amount of the asset is higher than the tax (in the event of an obligation below), the taxable temporary difference occurs.

Otherwise, a subtracted temporary difference is formed.

The fourth step is to calculate a deferred tax asset or a deferred tax liability. It and it is obtained by multiplying temporary differences at the tax rate (in Russia - 20%). Well, and on the last one, the fifth stage you need to calculate the amounts to be reflected in the balance sheet and in the income statement. When using the balance sheet method, we have already defined. This is the most it and she. The value to be included in the income and loss statement is made up of the amount of the amount obtained at step 4, and the incoming balance at the beginning of the reporting period. That is, the change in the amount of magnitude and it for the reporting period falls into the profit and loss statement.

Another advantage of the balance sheet method compared to the operating system is that it allows you to reflect the postponed effect from those rare species Operations that are not reflected in the profit indicator, but only change capital.

The results of the application of one or another method will be different if the rate of income tax is changing. The international standard for deferred taxes prescribes the use of those rates that will act in the future. So, if it is known that from next year the rate drops from 24 to 20 percent, you must use 20 percent. That is, the incoming balance of deferred taxes on the date that the new rate applies should be recalculated.

We also pay attention to such a moment: if in Russian accounting, tax assets always recognize, then the professional judgment of an accountant is important in international records. The fact is that in general principles IFRS laid the concept of prudency, or conservatism, according to which assets and income in financial statements should not be overestimated, and obligations and expenses are understated.

3.4 Reflection in temporary differences

For accounting of temporary differences, individual accounts are provided. The subtractable temporary difference is reflected in the account 09 "Deferred Tax Active":

The deferred tax asset is reflected.

As it decreases or full repayment Submitted temporary differences Deferred tax assets are also subject to decreasing or repayment. In this case, posting is taken into account:

Reduced or fully repaid the amount of deferred tax asset.

If the object in which the organization reflected a deferred tax asset, retired (for example, when selling a fixed assessment), such a wiring is drawn up:

Debit99 Credit 09.

Written off the sum of the deferred tax asset.

To keep records of a deferred tax liability needed on account 77 "Deferred Tax Obligations":

Debit 68 subaccount "Calculations for income tax"

Reflected deferred tax liability.

As reduced or fully repayment of taxable temporary differences, deferred tax liabilities also need to be reduced or repay. In this case, the recordings are compiled:

Credit 68 subaccount "Calculations for income tax"

Reduced or fully repaid the amount of deferred tax liability.

If the object on which the deferred tax liability is reflected, recovered, recorded:

Debit 77 Credit 99

Written off the amount of deferred tax liability.

IAS 12 does not provide for a reflection procedure for increasing income tax and permanent tax liabilities. The current tax and amount of deferred taxes that have arisen in the reporting period are recorded on the relevant accounts - "current income tax" (analogue of account 68) and "deferred taxes" (analogue of accounts 09 and 77) in correspondence with the account "income tax costs "(Analogue of the subaccount" Costs for the income tax "Account 99).

Deferred tax assets and liabilities under RAS are calculated by the comparison of income and costs of the reporting period reflected in Apartments and expenditures included in the income tax declaration during the reporting period. This technique allows you to see the reporting method for calculating the current income tax, but does not take into account future tax consequences.

It should be noted that the International Financial Reporting Standards are not accounting standards as, for example, Russian PBUs. They do not have an account plan, accounting wiring, primary documents or accounting registers. IFRS are reporting standards as a final stage. accounting. They do not impose any special requirements directly to the contract.

The principal feature of international financial reporting standards is that when working with reporting, they recommend repelled not from legislative norms, and from economic realities. Thus, one of the basic principles of IFRS is the priority of economic content over the form.

In IFRS 12 "Taxes on Profit" provides for the general procedure for reflection in the financial statements of income tax calculations.

The main issue of income tax accounting is to reflect not only current, but also future tax liabilities that will arise due to the reimbursement of the value of assets or repayment of the obligations included in the balance sheet at the reporting date. To resolve this issue, the mechanism of deferred taxes is applied.

According to the assembled materials, you can draw the following conclusion: although PBU 18/02 is the prototype of Art. 12 IFRS, these 2 standards have a fundamental difference. This is due to the fact that these standards are designed for different purposes. In particular, PBU18 / 02 is designed to control domestic enterprises to government agencies, and IFRS -FRA assessment by investment attractiveness of the company, its prospects. After all, the main user of accounting reporting in our country remains government agencies. That is, institutions that are by their nature do not take management decisions, but control their initiators.

In accordance with IFRS, the main goal of financial statements is to provide users with information to make economic decisions. First of all, we are talking about owners and investors of the company. They are interested in whether it will be able to pay dividends, interest, repay loans, etc. And it depends on the income and expenses of the company in the future, including from the upcoming tax payments. Therefore, if the future value of income tax can be reliably predicted, it should be reflected in the reporting of the company.

As a rule, in most cases, the use of both PBUs 18/02 and IFRS 12 leads to the same results. And both standards require a detailed tax accounting. At the same time, the method of accounting for deferred taxes under IFRS 12 should be recognized more convenient and accurate.

Convenient - because it is not necessary to reflect constant tax assets and liabilities. After all, the reporting users are only pending. Consequently, accounting for PBU 18/02 requires compilation in the essence of meaningless wiring and unnecessary computing. In addition, for correct work on russian standard Deferred taxes and temporary differences must be charged throughout the year. And the international is applied at the same time - at the reporting date.

Accurate - because if you use PBU 18/02 not from the very beginning of the work of the enterprise, it will not allow it to form it in the past operations that led to differences in the current accounting and tax value of assets and obligations. And IFRS 12 will quite successfully cope with this task. In addition, the method used in the Russian PBU allows you to see only changes for the year, but does not make it possible to find out the state of deferred tax entirely.

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6. Solovyov O.V. "IFRS, conceptual framework for the preparation and provision of financial statements", Publisher: Eksmo, 2010, 228 p.

7. Soskaissen O.I. "How to translate Russian reporting to the International Standard": M.: Grossmedia: ROSBUKH, 2008. - 272 p.;

8. Stukov S.A., Futkov L.S. "International standardization and harmonization of accounting and reporting". M.: Accounting, 2008. - 144C.;

9. Tea V.T., Tea G.T. "IFRS": Knourus, 2010, 304 p.

10. Botchkova L .. at least, which is needed to know the chief, if companies are needed by IFRS // Glavbukh - 2010. - № 7., p.76.

11. Corogabin R. PBU 18/02 made it clear // Headbuch - 2008. - № 7. p.15.

12. Internet Magazine "IFRS" (Special Project of magazines "Glavbuch" and "Double Record"), November 2009

13.www.ippnou.ru, Generalova Natalia Viktorovna, IFRS (IAS) 12 "Income taxes".

14.www.ippnou.ru, Moders Sergey Vladimirovich, income tax in IFRS and PBU.

Natalia Serdyuk

Methods for recognizing and taking into account tax assets and IFRS liabilities differ from the "Accounting for income tax calculations given in PBU 18/02. Knowledge of the main differences and the subtleties of accounting will help to avoid difficulties in compiling reports on international standards.

Natalia Serdyuk, Head of the IFRS Department of the Wine Holding

To account for taxes IFRS (IAS) 12 "Income Taxes" uses the so-called balance sheet method, and PBU 18/02 (as well as the previous version of IFRS (IAS) 12) requires to consider them using a deferment based on indicators Profit and Loss Statement (OPU) 2.

In international standards, tax differences are defined as differences in the book value of assets and obligations and their tax base. On their basis, the final amount of deferred taxes is calculated.

The book value (BS) of the asset or obligations is the amount in which an asset or obligation is taken into account in the balance sheet. Under the tax base (NB) asset or obligation is understood to be their value taken for tax purposes.

According to the balance sheet method, the company's financial statements should reflect: the tax consequences of the reporting period (current income tax); Future tax consequences (deferred taxes).

Opinion Practice Irina Agafonova, Deputy Chief Accountant for IFRS LLC Petersburg FM (St. Petersburg)

The difference between PBU 18/02 and IFRS (IAS) 12 is due to different reporting objectives. The IAS 12 task corresponds to the general objectives of international standards: provide reliable information to interested users. Since income tax affects cash outflows and the amount of financial results, it must be accurately calculated and reflected in the reporting. For users of financial information, not only current, but also future tax consequences of operations, which the company conducted during the reporting period, as well as the impact that will have a tax on the income of the obligations and reimbursement of assets in future periods are important.

The task of PBU 18/02 is to establish the relationship between profits obtained according to accounting and tax accounting. These fundamental differences in order and lead to the difference in methods and results.

The emergence of temporary differences

The difference between the book value of the asset or obligations and their tax base is called temporary (Fig. 1).

Recognition of the effect of future tax consequences leads to the emergence of deferred tax liabilities in the financial statements of deferred tax assets (it) and deferred tax assets (it).

Deferred tax assets are the amount of income tax reimbursed in future periods due to submitted time differences, as well as in connection with the transfer to the future period of unused tax losses and tax credits. Deferred tax liabilities are the amounts of income tax payable in future periods due to taxable temporary differences.

The conditions for the occurrence of it and it are presented in Table. one.

Alpha in accordance with the Accounting Policy creates a reserve for warranty service. In 2006, a reserve was created in the amount of 60,000 rubles, the costs of warranty service amounted to 20,000 rubles. Profit tax rate - 30-. The tax accounting for deductions includes the actual amount of costs for warranty repairs.

In the balance sheet at the end of 2006, the obligation to the "Reserve for warranty service" line will be reflected in the amount of 40,000 rubles. (60 000 - 20 000). The tax base of the reserve will be zero1.

Balance value of the obligation is more than its tax base, therefore the subtracted temporary difference occurs in the amount of 40,000 rubles. (40 000 - 0). Thus, there is a deferred tax asset in the amount of 12,000 rubles. (40 000 h 30%).

Dt delayed tax asset 12 000

Kt, delayed taxes 12 000

The initial cost of the equipment of Alpha on December 31, 2006 is 70,000 rubles, the amount of accumulated wear is 20,000 rubles. The amount of accumulated depreciation for tax purposes is 30,000 rubles.

The income tax rate is 30%.

In this case, in the balance sheet, the cost of equipment at the end of 2007 will be 50,000 rubles, and the tax base of the asset is 40,000 rubles. Since the Asset BS is more of its tax base, then the taxable temporary difference occurs in the amount of 10,000 rubles. (50 000 - 40 000) and registered a deferred tax liability in the amount of 3000 rubles. (10 000 h 30%). Reflection of operations in accounting (rub.):

Dt spending taxes 3000

K, deferred tax liability 3000

When reimbursing the book value of the asset in subsequent periods, Alpha will pay a profit tax in the amount of 3000 rubles.

According to PBU 18/02, there are differences that arise as a result of the fact that part of income and expenses are not taken into account in order to tax in the reporting, nor in future periods. In such cases, temporary differences do not arise, as in the future there are no changes in tax payments, that is, the differences are constant. In IAS 12, the concept of "constant differences" is not used, and if the difference is constant, its tax base is taken equal to accounting and deferred taxes do not arise. For example, when accrued fines that are not subject to deduction in tax accounting, the tax base of accrued obligations will be equal to their book value.

Calculation and reflection in the reporting of income taxes

In international regulation, the following components of income tax allocate.

1. The current tax (Fig. 2) is the amount of income taxes for payment (to reimbursement) for taxable profits (loss taken into account in taxation) for the period.

In the balance sheet, it is reflected as a short-term commitment equal to an unpaid amount, or as a short-term asset, if the paid amount exceeds the payable.

Obligations or assets for current tax are calculated in accordance with tax legislation using rates operating at the reporting date.

2. Deferred tax. Deferred tax assets and liabilities are reflected in the balance sheet separately from other assets and liabilities and are classified as long-term articles. When they are evaluated, the tax rate should be applied, which will exist at the time of the implementation of this asset or repayment of the obligation. If the change in the tax rate in the future is unknown, then IAS 12 allows the application of the tax rate for the reporting date.

Let's say if from January 1, 2007 there is a decline in income tax rates from 30 to 25%, then when drawing up financial statements for 2006, to determine deferred taxes, you need to apply a new tax rate (25%), and the current tax reflect on the current rate ( thirty%).

Typically, current and deferred taxes are recognized as an income or consumption and are included in net profit or loss for the period. But if the tax is charged on articles that are directly attributed to the capital account, the amount of taxes arising in connection with this (current and deferred) should be debited or credited directly with the capital account.

Alpha in 2006 conducted a revaluation of fixed assets. The amount of the reach amounted to 50,000 rubles. Profit tax rate - 25%. In the tax accounting, the revaluation is not recognized, so the taxable temporary difference arises in the amount of 50,000 rubles. and deferred tax liability in the amount of 12,500 rubles. (50 000 h 25%).

Reflection of operations in accounting (rub.):

Revaluation

Dt fixed means 50 000

Kt Reserve for the revaluation of fixed assets 50 000

Recognition of deferred capital tax

Dt Reserve for the revaluation of fixed assets 12,500

K, deferred tax obligation 12,500

Deferred tax assets (obligations) are long-term objects, their repayment period is often calculated in several years. Therefore, specialists sometimes arise the possibility of reflecting the discounted amount of deferred taxes in the reporting. The current IAS 12 prohibits discounting deferred taxes.

Personal experience Irina Agafonova, Deputy Chief Accountant under IFRS LLC Petersburg FM (St. Petersburg)

When calculating the current income tax in the reporting under IFRS, the amount of this tax for the reporting period, calculated according to the rules of tax accounting and transferred to the credit of the account "current income tax" and the debit of the profit and loss accounts "is shown. ON RAS is based on accounting profits and reflected adjustments. This calculation is shown in Ap.

When calculating it and it is in IFRS (IAS) 12, a balance sheet is used: the tax base of assets and liabilities reflected in the balance sheet, and the difference obtained forms deferred assets and obligations. This technique reflects all future tax consequences that will arise from the company when using assets and repayment of obligations reflected in the balance sheet at the end of the current period, but does not show the procedure for calculating the current income tax in the accounting statements. In our company, it usually arises due to the difference in the amounts of tax and accounting depreciation, the benefits of losses of past years, losses from the implementation of the OS, and it is due to the difference in recognizing the costs of acquiring software products and the rights of use of intellectual property, differences In repayment of expenditures of future periods and depreciation of the OS.

Deferred tax assets and liabilities under RAS are calculated by the comparison of income and costs of the reporting period reflected in Apartments and expenditures included in the income tax declaration during the reporting period. This technique allows you to see the reporting method for calculating the current income tax, but does not take into account future tax consequences.

Experience and solutions

How to consider deferred taxes

Anastasia Konshin, Deputy Financial Director of GK "Vl Logistics"

The preparation of tax balance and the calculation of deferred taxes is the final and fairly laborious stage of preparation of reporting under IFRS and causes many issues in reporting compilers. How to reflect deferred taxes without mistakes?

It is almost always different from profits reflected in the financial statements, because when calculating profit, the Company's tax goals are guided by the requirements of tax legislation, not IFRS. As a result, the relationship between profit before tax, shown in the financial statements and taxes payable, is not visible. Restores this connection deferred tax.

The basic principles of postponed taxes

IAS 12 "Profit Taxes" considers all differences in accounting and tax reporting From the point of view of the balance sheet method. In accordance with this method, assets and liabilities recognized in the reporting in their balance sheet value are compared with their tax assessment. As a result of this comparison, temporary differences are detected. The constant differences in the influence of this method do not provide. Applying the tax rate to temporary differences, a deferred tax is obtained to be reflected in the statement of financial position. We give the key concepts on which the accounting of deferred taxes is based.

Temporary differences - It is the difference between the book value of the asset or obligations and their tax base. Temporary differences can be taxable (lead to the formation of a deferred tax liability) and subtractable (lead to the formation of a deferred tax assets).

Tax base asset - This is the amount that will be deducted in tax purposes from any taxable economic benefits that will receive an enterprise when reimbursement of the carrying amount of the asset. For example, as a result of the use of fixed assets, the enterprise receives taxable revenue, which decreases by depreciation. Upon expiration of the useful use of the asset, the accumulated amount of depreciation will be equal to its value. At the same time, the tax consequences of operations that the company reflected in the reporting in the current period may affect subsequent periods. So, at the time of buying the object of fixed assets, the temporary difference does not arise (provided that the value of the main means is the same for the purposes of tax and financial statements). A temporary difference can be formed later when applying different depreciation standards in accounting and accounting for tax goals. As a result, the residual value of the facility of fixed assets reflected in the financial statements is different from the cost calculated for tax purposes.

Tax base obligations It is equal to its carrying amount less than any amounts that are subject to deduction for tax purposes regarding such an obligation in future periods.

If an assignment of deferred tax on the financial result of the reporting period is restored to the relationship between profit before tax and income tax payable.

What tax rate to use

Deferred taxes are assessed at tax rates, which are intended to be applied to the implementation period of the asset or repayment of the obligation, based on tax rates and tax legislation that acted at the end of the reporting period.

If an income tax rate is already available at the end of the reporting period, approved by tax legislation and acting from the next reporting period, deferred tax assets and liabilities at the end of the reporting period must be counted at a new rate. The adjustment is calculated by the formula:

Adjustment amount \u003d incoming balance on a deferred tax × New income tax rate: the former value of the tax rate is an incoming balance of deferred tax

Note!

The change in the magnitude of deferred tax assets and liabilities, including due to the change in the tax rate, is reflected in the income statement (except for the part that refers to articles previously reflected in capital accounts).

To illustrate this moment, consider the following situation. As of December 31, 2008 (profit tax rate 24%) in the financial statements of the company recognized:

• deferred tax asset in the amount of 32.4 thousand rubles;
• deferred tax liability in the amount of 64.5 thousand rubles.

Since 2009, a profit tax rate has been introduced - 20 percent. Deferred taxes must be counted on a new tax rate. Calculation of the adjustment is given in Tables 1 and 2.

Table 1.Adjustment of the remainder of the deferred tax assets, thousand rubles.

Table 2. Adjustment of the remainder of the deferred tax liability, thousand rubles.

It should also be borne in mind that for different species Activities can be installed different tax rate.

The value of deferred taxes should be calculated on the basis of the intended method of reimbursement of the asset or repayment of the obligation. The key role here will play the intention of the company's management. At the same time, in relation to fixed assets taken into account at the revalued cost, as well as investment property measured at fair value, the standard requires to use the assumption that the reimbursement of the value of such assets is usually carried out by selling.

Deferred taxes in consolidated reporting

Deferred taxes often occur when preparing consolidated reporting.

At the date of acquisition of a subsidiary, its assets are assessed at fair value. The correction of fair value on the tax base does not affect, respectively, there is a temporary difference.

Example

At the date of acquisition of a subsidiary, the Buyer conducted a revaluation of fixed assets before fair value.

The carrying amount of fixed assets is 500 thousand rubles. The estimated fair value amounted to 700 thousand rubles. When generating consolidated reporting, the following adjustments are made.

The revaluation of fixed assets is made to fair value:

DT "Fixed assets" - 200 thousand rubles.
CT "Reserve Revaluation" - 200 thousand rubles.

Defired tax obligation to revaluate:

DT "Reserve Revaluation" - 40 thousand rubles. (200 thousand rubles. × 20%).
CT "Deferred Tax" - 40 thousand rubles. (200 thousand rubles. × 20%).

The goodwill occupying the business has a zero tax base, since in general it is not recognized in tax purposes. But it should be noted that the Standard prohibits the recognition of a deferred tax liability arising from this.

This exception is made in order not to increase the magnitude of goodwill in the financial statements.

One of the necessary procedures, carried out in the formation of consolidated reporting, is the elimination of intragroup operations and unrealized profits arising in connection with the sale of reserves, fixed assets.

From the point of view of tax authorities, the tax base of the asset acquired as a result of the intragroup operation is equal to the cost of purchase. In addition, the seller of goods, fixed assets is obliged to pay income tax from the sale of this asset. As a result, a deferred tax assets must be recognized in the consolidated financial statements.

Note!

Deferred tax is calculated by the buyer's tax rate.

Recognition of a deferred tax assets means that the income tax accrued by the Seller's enterprise from the sale of reserves, fixed assets is not included in the consolidated profit and loss statement during the reporting period. It will be reflected in the future period when the group recognizes profits.

Example

Alpha is owned by 100% of Beta's capital. On January 1, 2011, Alpha sold Beta companies for 50 million rubles. Residual value fixed assets on the date of sale is 30 million rubles. The remaining useful life of assets is eight years. Profit from the sale of a fixed assessment amounted to 20 million rubles. When consolidating reporting in 2011, the following adjustments to eliminate intragroup profits from the sale of fixed assets are made:

DT "Other income from the sale of fixed assets" - 20 million rubles.
CT "Fixed assets" - 20 million rubles.

DT "Fixed assets" - 2.5 million rubles. (20 million rubles: 8 years).
CT "Cost" - 2.5 million rubles. (20 million rubles: 8 years).

DT "Deferred Tax" - 3.5 million rubles. (20 million rubles. - (50 million rubles. - 30 million rubles.): 8 years old) 20%).
CT "Consumption for income tax" - 3.5 million rubles. (20 million rubles. - (50 million rubles. - 30 million rubles.): 8 years old) × 20%).

Collecting deferred taxes

In rare cases, companies can arrange deferred tax assets and deferred tax liabilities. This is possible if the company has legal law to carry out the netting of assets and obligations under the current income tax, and deferred tax assets and obligations relate to the income tax that charges the same tax authority. That is, the company can produce or receive a single tax payment. In the consolidated financial statements, the current tax assets and the obligations of different companies included in the group can only be considered if they have the legal right to pay or reimburse the tax with a single payment and intend to use it.

Practice for calculating deferred taxes

The differences between the tax assessment of assets and obligations and their assessment under IFRS are present on most assets (obligations) of our group of companies. For example, a group accounting policy for tax purposes is not provided for the creation of a reserve for doubtful debts. And in the formation of reporting under IFRS, the company is obliged to create such a reserve.

Also, the differences arise in the articles of accounting of lease agreements. Here, the differences may arise both when calculating the initial amount of the obligation and the accrual of leasing payments. According to the provisions of our Accounting Policy for tax purposes, the amount of accrued leasing payments reflect within the composition of other expenses taken into account in order to tax purposes. In accordance with IAS 17, leasing payments should be divided into repayment of the principal amount of obligations financial leasing and pay interest. On accounting is influenced only by the payment of interest. At the same time, the amount of interest under the contract is calculated using the discount rate. In this case, temporary differences also arise.

The differences between the tax and accounting basis arise and as a result of the use of various methods for calculating depreciation in tax accounting and in accordance with IFRS. So, according to accounting policies Under IFRS, depreciation on motor vehicles is charged on a run-through. In tax accounting for this group of fixed assets, depreciation is charged with a linear way.

Since the calculation of deferred taxes is the final stage of the transformation of the reporting of RAS in IFRS, at the time of the procedure for calculating deferred taxes, transformation specialists already have sufficient information on possible sources of temporary differences. According to the current regulations for the transformation of Russian reporting, the reporting under IFRS, the main accountants of the Group companies are sent to the IFRS Department for income tax declarations for the reporting period, as well as detailed deciphering differences between accounting and tax accounting data (tax accounting registers).

The procedure for calculating deferred taxes itself consists of the following steps.

Stage 1. Determine the tax base of assets and liabilities. According to PBU 18/02 "Accounting for income tax payments", temporary differences are charged with the use of deferred tax assets and deferred tax obligations. To calculate the tax base of assets and liabilities (subject to the correct maintenance of this section of accounting), it is necessary to use the balance at the beginning and end of the account period and with deciphering the types of differences. If such an analytics is not conducted, then for the purpose of drawing up a tax balance, it is necessary to separately decipher account data for assets or obligations.

Adjusing the cost of assets and liabilities by which there is a difference between accounting and tax accounting (that is, on which there is a balance in accounts and), we receive a tax base of assets and obligations for the purpose of calculating deferred taxes under IFRS.

The subsidiaries of our group do not apply the position of PBU 18/02, since they are small business entities. Therefore, according to subsidiaries, the specialists of the department of the head company identify temporary differences by comparing the values \u200b\u200bof assets and liabilities in the assessment corresponding to IFRS, with their tax assessment according to tax Declarations For income tax. For clarity, all data for calculating deferred taxes is reduced to a separate table - tax balance (Table 3).

Table 3.Tax balance, thousand rubles.

	Book value	The tax base	Reclassification wiring	Temporary difference	She / it
Fixed assets
Intangible assets	120	0	(120)	0	-
Land	250	210	-	40	IT
Fixed assets	110	60	-	50	IT
Other noncurrent assets	0	120	(120)	0	-
Current assets
Stocks	29	35	-	(6)	SHE IS
Receivables	263	279	-	(16)	SHE IS
Obligations
	(337)	(382)	-	45	IT

Stage 2. Remove temporary differences. The difference between financial and tax accounting was formed due to the following events.

1. During the year, the company overestimated land plot for 40 thousand rubles. According to the Tax Code of the Russian Federation, during the revaluation of fixed assets, the positive amount of such revaluation does not recognize the income taken into account for tax purposes. Accordingly, the carrying amount of the asset will be higher than its tax base. The difference between the book value of an overvalued asset and its tax base is a temporary difference and leads to a deferred tax liability.
2. The company uses different depreciation rates for financial and tax accounting purposes (enshrined by the company's accounting policies). When drawing up a tax balance, it is necessary to compare the cost of fixed assets in accordance with IFRS and tax accounting data. The differences between them are temporary and lead to the formation of deferred tax assets or deferred tax liabilities. According to the results of the analysis, it was revealed that depreciation for the purposes of tax accounting exceeds the amount of depreciation according to accounting on IFRS. There is a taxable temporary difference.
3. Under the illiquid reserves create a reserve, the value of which is not taken into account in tax purposes. According to IAS 2 "stocks", this group Assets should be reflected by the smallest of two quantities: cost and possible net sales prices. The reserve for non-liquid MPS is created by the amount of the difference between the current market value and the actual cost, if the latter above market value. According to the norms of the Tax Code of the Russian Federation, the creation of such a reserve is not provided. Balance value of stocks in this case will be less tax. This leads to the emergence of a subtracted temporary difference and a deferred tax asset.
4. Accounts receivable in IFRS reporting is reflected minus the reserve for doubtful debts. Accounting policies Groups For tax purposes, the creation of such a reserve is not provided. The carrying amount of receivables in this case will be less tax, which leads to the emergence of a subtracted temporary difference and deferred tax asset.
5. In the reporting period, one of the Group companies concluded a lease agreement. Rental for IFRS was classified as financial. Under the terms of the contract, the leased object is taken into account on the tenant's balance sheet. According to IAS 17 "Rent", when reflected in the accounting of the financial lease, the tenant recognizes the obligation to the smallest of the values: the discounted value of minimal leasing payments or the fair value of the leased object. The discounted value of minimal leasing payments is 337 thousand rubles. In tax accounting, payable arrears (leasing obligation) is recognized based on the amount of lease agreement. It is 382 thousand rubles. Accordingly, a taxable temporary difference arises, which leads to a deferred tax liability.

Stage 3. To identify constant differences. Articles on which arises this type differences are excluded at the calculation of deferred taxes. For tax purposes, it does not take into account the costs of accrued interest on loan obligations (25 thousand rubles), the magnitude of which exceeds the limitation established by Tax Code RF. This amount is excluded at the calculation of deferred taxes.

Stage 4. Exclude reclassification wiring formed during reporting transformation. When calculating deferred taxes, it is necessary to exclude the amount of wiring associated with the reclassification of the balance sheet "Other non-current assets" into the composition of intangible assets (criteria for recognizing an asset as an intangible asset).

Note!

To recognize a deferred tax asset can be to the extent possible in which the presence of future taxable profits against which the subtracted temporary difference may be credited. Based on professional judgment, it is necessary to estimate the amount of the deferred tax asset, which can be recognized in the financial statements.

Stage 5. Compare tax and IFP-balance data and calculate the values \u200b\u200bof temporary differences. The balance of IFRS formed in the transformation process must be compared with the tax balance. The differences arising between the Balance of IFRS and the tax balance lead to the formation of deferred taxes in accordance with IAS 12 (excluding reclassification wiring).

When comparing the balance of IFRS with a balance compiled on the principles of tax accounting, it is necessary to take into account the signs of numerical values \u200b\u200bof differences: negative values \u200b\u200bare involved in the calculation of deferred tax assets, positive - in the calculation of deferred tax liabilities.

In our example, taxable temporary differences amounted to 135 thousand rubles. (40 000 + 50,000 + 45 000). Survived temporary differences are equal to 22 thousand rubles. (16 000 + 6000).

Stage 6. Calculate deferred taxes (multiply the corresponding temporary difference for the tax rate). As of December 31, 2011, the following tax balance was formed to calculate deferred taxes by the company (Table 3). Tax rate December 31, 2011 - 20 percent. In our example, it is 27 thousand rubles. (135 thousand rubles. × 20%). It is 4.4 thousand rubles. (22 thousand rubles. × 20%).

Stage 7. Reflect pending taxes in reporting. Deferred tax assets and liabilities are long-term elements of financial statements: their repayment period is often calculated for years. It should be noted that the sums of deferred tax are not subject to discount. Reflect in reports you need real amounts of deferred taxes, despite the fact that the effect of discounting can be essential.

Deferred taxes are recognized in the statement of financial position, and the change in their value is in the income statement or in the report on capital change (if the emergence of deferred taxes is associated with an operation affecting capital). The most frequently deferred tax is taken into account in capital with an increase in the book value of fixed assets after the revaluation. At the same time, IAS 16 "fixed assets" permits to translate a part of the reserve reserve on the main means into the structure of retained earnings during the entire period of its depreciation, without waiting for his disposal. The amount of reserve translated into retained earnings should not include the associated deferred tax. In this case, the posting is formed annually:

DT "Reserve Revaluation"
DT "Deferred Tax"
CT " Undestributed profits»8 thousand rubles. (40 thousand rubles. × 20%)

The quantity of deferred tax, which must be reflected in the statement of financial position, is designed for. When calculating the quantity of deferred tax, which should be reflected in the income statement, you need to consider the next moment. In the reporting period, the company overestimated the land plot. Therefore, the sum of deferred tax arising from the revaluation should be reflected in equity. Calculate a deferred tax liability in this case by the following entry:

The amount of deferred tax, which should be reflected in the income statement, will be a "balancing" value. It is calculated as the difference between deferred tax on the end and the beginning of the reporting period minus the amount of deferred tax referred to capital. At the end of the previous reporting period, a taxable temporary difference was recognized in the reporting - 24 thousand rubles under the article "Fixed Tans", as well as subtracted temporary difference - 6 thousand rubles (of which 4 thousand rubles - the reserve for the unquidal MPZ, 2 thousand . rub. - Reserve for doubtful debts). Accounting profit for 2011 - 691 thousand rubles. Based on these data in the income statement, a deferred tax in the amount of 11 thousand rubles should be reflected. ((27 - 4.4) - 8 - (24 - 6) × 0,2). Calculate the obligation to deferred tax a record:

Stage 8. To form notes on deferred taxes. A distinctive feature of the requirements of IFRS (IAS) 12 to disclosure information about deferred taxes is the requirement to reflect changes in deferred tax assets and liabilities, as well as reasons that caused relevant changes.

In accordance with the requirements of the IFRS (IAS) standard, 12 "income taxes" information on the cost of income (income) on income tax in the company's financial statements must be disclosed separately. In particular, companies need to be shown:

• expenses (income) under the current tax;
• any correction of current taxes for previous periodsaccounted for in the reporting period;
• expenses (income) for deferred tax associated with the occurrence, increase or reduction of the temporary difference;
• expenses (income) for deferred tax associated with changes in tax rates or the introduction of new taxes.

It is also necessary to disclose the following information:

• the cumulative value of current and deferred taxes related to articles, the change in the value of which refers directly to the capital account;
• the relationship between the flow rate (income) on the tax and accounting profit in the form of a numerical reconciliation of consumption (income) on the accounting tax rate multiplied by the current tax rate;
• values \u200b\u200bof deferred taxes in the context of each object of financial statements;
• the movement of assets and deferred tax obligations reflected in the statement of financial position.

This information is disclosed in explanations to the financial statements. Examples of disclosures are shown in Tables 4, 5, 6 and 7.

Table 4.Consumption for income tax for the year ended December 31, 2011, thousand rubles.

Table 5.NUMBER CONTACT OF ACCOUNTING ACCOUNT ACCOUNT, THR.

Table 6. The movement of assets and deferred tax obligations reflected in the statement of financial position, thousand rubles.

Table 7. Deferred tax assets and obligations in the context of each facility, thousand rubles.

Article Report on Financial Position	Meaning on January 1, 2011	Change for 2011 (balancing value)		Replaced with a report on other cumulative income
		Meaning December 31, 2011	Recaped in profit and loss statement
Land	-	-	8	8
Fixed assets	24 × 0.2 \u003d 4.8	5,2	-	10
Stocks	(4) × 0.2 \u003d (0.8)	(0,4)	-	(1,2)
Receivables	(2) × 0.2 \u003d (0.4)	(2,8)	-	(3,2)
Financial lease obligation	-	9	-	9
TOTAL	3,6	11	8	22,6

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Experience and solutions

How to spend an assets impairment test

Natalia Shashkov, ACCA, Head of the Department of IFRS OJSC "Zarubezhstukhnologiya"

According to IFRS requirements, assets should be recorded at a cost not exceeding the amount that the company can get from their sale or from future use. Therefore, an IFRS specialist is important to know how and when testing tests for assets value.

About the unevenness non-financial assets Consider IFRS (IAS) 36 "Impairment of Assets" and clarification of KMFO (IFRIC) 10 "Intermediate financial statements and impairment. " Standard requirements relate to all assets, except:

• investment property facilities taken into account at fair value;
• stocks;
• biological assets taken into account at fair value less costs for sale;
• deferred tax assets;
• assets arising from construction contracts;
• assets arising from remuneration to employees;
• non-current assets intended for sale;
• delayed costs and financial assets (except investment in subsidiaries, associated companies and joint ventures).

Impairment financial instruments Located in the regulation of IFRS (IFRS) 9, IAS 32, IAS 32, IAS 39 and clarifications to them.

IAS 36 considers impairment in three directions: impairment of a separate asset, impairment of a unit generating cash flow (TEG), impairment of business reputation. The concepts of "reserve" and "impairment" should be distinguished. In practice, the term "reserve" is often used in the value of the estimated amount of loans or similar impairment losses. But, unlike real reserves, which considers IAS 37 "Reserves, conditional obligations and conditional assets", the impairment is not a reserved obligation, but is an adjustment of the value of the corresponding assets.

Note that among Russian PBUs such a standard for the impairment of assets. There is only one reservation in PBU 14/2007 "Accounting for intangible assets". Thus, in paragraph 22 of the provisions it is indicated that intangible assets can be checked for impairment in the manner prescribed by IFRS. If we talk about the regulation of this aspect of reporting in US GAAP, then we can note a lot of general moments with IFRS in the approach to impairment. However, a large number of differences lies in detail. For example, US GAAP does not require discount cash flows when determining the reimbursement of the amount, and when determining the fair price of the transaction, there is not enough use of the price of the active market (there are some more criteria), and the forecast periods are also different (IFRS recommends five years, US GAAP is the term of use of the asset by the company) etc.

Step 1. Determine the assets you need to test for impairment

To begin with, it is necessary to understand whether it is worth exposing an impairment testing. To do this, it is necessary to analyze the indicators indicating possible impairment, as well as determine the degree of sensitivity of assets to these indicators. The result of this stage will be the decision on testing or refusing it.

The standard indicates the presence of external (for example, negative changes in external conditions of carrying out activities or legal environment, growth of market interest rates, appearance major competitors) and internal signs (for example, the effectiveness of the use of an asset has fallen, physical damage to the asset, etc.) occurred.). In some cases, it is necessary to conduct an impairment test, even despite the lack of signs of impairment.

Note!

This check is absolutely not necessary to hold on December 31. It can be done at any other time of the year. The main thing is that it is carried out at the same time every year. That is, if in 2010 the company tests good to impairment on August 30, then in 2011, in 2012, etc. It is for this date that you need to check.

Annual mandatory inspection for impairment is necessary on goodwill, as well as intangible assets that are not yet ready to use either having an indefinite useful life.

At this stage, it is important to determine who in the company will decide that any asset must be subjected to "markdown". Ideal if it is a person from Business. This may be an employee of the manufacturing department, logistics, an employee of a property department, but not an accountant, who did not even see this asset and has no information about the future fate of this object, the dynamics of prices for it, the market situation.

However, this does not mean that the accountant should simply transfer the amount at the calculation of the responsible person into the accounting system. He needs to understand the calculation methodology, make sure that it corresponds to the methodology of past years, as well as the principles laid down in IFRS. It should also be explained by the responsible specialist, why do these calculations need and what kind of report you need to get. Perhaps you will have to consult with your colleagues or auditors if any aspects of the calculation cause doubt.

Step 2. Calculate the reimbursable value of the asset

After you decide that you need to test for impairment, it is necessary to calculate the reimbursable value of the asset. This is the largest of two quantities:

• the value of the use of an asset (the discounted value of future cash flows that are expected to be obtained from the asset as a result of the continuation of use and subsequent alienation);
• fair cost less sales costs.

Between the two values \u200b\u200bthere is a principal difference. Fair cost reflects the estimates and information available from well-informed and want to make such an operation of buyers and sellers. The value of use, on the contrary, reflects the assessments of a particular organization.

Note!

Goodwill check on the subject of impairment always at the level of the EDP or the NEG Group.

Standard recommends applying an individual approach to assets. That is, it is better to check for impairment of assets in lecturer than to combine them into groups. If this is not possible (for example, too much time consuming and takes a lot of time), the assets are checked for impairment as part of a unit generating cash flows (TEG).

The unit generating cash flows is the smallest group of assets, within the framework of which funds are generated as a result of the use of relevant assets, this inflow does not depend on the inflow of funds generated by other assets or assets.

Example

In the network trading, the store with all its equipment (building, refrigeration equipment, racks, etc.) will be submitted to the EDP. In this case, the estimate, such as a refrigeration unit, is impossible separately for impairment, since this asset generates cash flows only in combination with other assets. In addition, each store most likely has its client base. It is also an important factor "Departments". And even the fact that the store can use the same infrastructure as other shops, have one servicing back office (that is, general marketing and other operating expenses), does not play roles when highlighting a store into a separate TEG. The key factor here is the ability to generate a cash flow.

The allocation of the EDP can be one of the most difficult moments in the process of conducting an impairment test. Here you need to apply a professional judgment. Therefore, we again point out what was said at the beginning of the article - one accountant is difficult to cope with such difficult analysis as the identification of an autonomous, independent inflow of funds from the EDP. We need to seek help and consulting from specialists from other departments. In this case, employees of the scheduled department, controllers, operating managers can help.

To determine fair value, it is best to refer to the new IFRS 13. Despite the fact that this standard does not explain the concept of fair value less costs for sale, in other aspects it is quite applicable to IFRS (IAS) 36. The cost of selling in this aspect is the additional costs that are associated with the disposal (alienation) of the asset and preparation are recognized Asset to such a disposal. Commissions for banks for issuing loans or costs for income tax on the sale of an asset do not refer to such costs due to the fact that they are already recognized as an obligation.

The calculation of the value of use is based on substantiated and adequate assumptions regarding the forecasts of cash flows, which are approved by the Company's management (as part of budgets and forecasts drawn up in accordance with the principles of IFRS). Standard recommends that a period not exceeding such a period of five years. The composition of cash flows is individual for each enterprise. General is that the calculation includes cash receipts from the further use of the asset necessary for this cash costs (including overhead), as well as net cash flow from the subsequent disposal of the asset at the end of its useful use. Also important point is that the calculated estimates of cash flows should reflect the current state of the asset. Therefore, the future capital costs cannot be included in the calculation, which are aimed at improving the quality of the asset and the corresponding benefits from this. However, the capital costs of maintaining the current state of the asset must be included.

The value of use is sometimes difficult to determine. Therefore, you can take advantage of the next cunning: to calculate the fair cost less the cost of sale, and if it is higher than the balance sheet, then the value of use will not be necessary. It happens on the contrary: the companies are difficult to determine the fair value less costs for sale. In this case, you can use the same logic and consider first the value of use.

After the company rated future cash flows, they need to be discounted at the corresponding rate. The discount rate can be calculated by one of the following methods:

1. calculate the weighted average cost of capital (WACC) if the company has resources (analysts, databases);
2. use the weighted average cost of the company's credit portfolio (this indicator is able to count any Specialist IFRS) or get information about long-term lending rates, which can be attracted to new loans as of the evaluation date;
3. you can use the recommendation Federal Service Tariffs and use a risk-free rate, increased by 2 percent. In this case, as a rigless, it is possible to take an average rate on deposits in several "reliable" banks.

International standards are recommended to be used as a starting point to calculate the discount rate, the weighted average cost of the company's capital, but in practice it is quite difficult to calculate. Our company WACC does not count, but use the third method.

Step 3. Determine Impairment Loss

Impairment loss occurs when the carrying amount of the asset or the EDP exceeds the recoverable cost. In this case, the value of the asset in the statement of financial position reduces the amount of impairment loss. If it is a basic means or intangible asset, then you still need to proportionally reduce the amount of accumulated depreciation. Consider the following situation.

The management of the company found one of the signs of impairment of equipment producing spare parts for laptops: in the reporting period, spare parts were sold at a price below the cost. Therefore, it was decided to carry out a test for impairment of this production equipment.

The balance sheet value of the equipment is 290,000 rubles. Fair value minus costs for sale (counted by analysts of the company) is 120,000 rubles. The expected net inflow of funds from the equipment in the next three years (the remaining time life) is equal to 100,000 rubles per year. Discount rate is 10 percent. Accordingly, the net present inflow of cash in three years will be 248 684 rubles. (100 000: (1 + 0.1) + 100 000: (1 + 0.1) 2 + 100 000: (1 + 0.1) 3). This value is the value of the use of the asset. First you need to compare it with a fair value and more (248 684 rubles) Compare with the book value of the equipment. As a result, we obtain an impairment loss in the amount of 41,316 rubles. (290 000 - 248 684).

Different options for exceeding the three types of value of assets and outcomes of this comparison are shown in Table 1.

Table 1.definition of assets impairment loss

Option	Value of use, thousand rubles.	Fair cost less costs for sale, thousand rubles.	Renewable value (maximum 1 or 2), thousand rubles.	Balance value, thousand rubles.	Impairment loss (4-3), thousand rubles.	The cost of an asset in the balance sheet of impairment, thousand rubles.	Comment
	1	2	3	4	5	6	7
Option 1	200	90	200	100	Do not recognize	100	The value of use exceeds the carrying amount of the asset. The asset is not depreciated
Option 2.	200	150	200	300	100	200	It is more profitable to use the asset, and not to sell it
Option 3.	200	250	250	300	50	250	It is more profitable to sell an asset than to use further

Step 4. Recognize an impairment loss

The impairment loss, as well as the amount of its recovery, is recognized as part of profit or loss for the period. Most often, impairment loss reflect on a separate line As part of some expenses with the disclosure of relevant information in explanations to the financial statements.

Based on the conditions of the situation discussed above, the company will make the following wiring:

Note!

If any of the assets in the composition of the EDP clearly depreciated, an impairment loss should be attributed first to this asset. Then the remaining amount should be attributed to Goodwil. If the EDP impairment loss exceeds the cost of goodwill, then further write-offs produce in proportion to the book value of the remaining assets.

It should be remembered that if the asset was revalued, then the loss from its impairment is recognized as part of the other aggregate profits and are represented in the reassessment reserve in the part in which the amount of the loss covers the amount of previously recognized accommodation of the same asset. If the loss against impairment is more accumulated preamp, the difference is referred to the financial result.

With the recognition of an impairment loss, the situation is a bit more complicated. The EDP impairment loss must be distributed between assets that are included in this TEG. First of all, impairment loss believes to goodwill (its assessment is the most subjective), and the remaining part is distributed to other assets as part of the EDP in proportion to their book value.

At the same time, it is impossible to write off the value of the asset below:

• its fair value minus costs for sale;
• zero.

This is a fairly widespread error in accounting: with proportional separation, impairment loss often forget about the existence of such a limit.

Consider the following situation. The company acquired a taxi business together with a car fleet, licenses for $ 230,000. Excerpt from a financial statement report is given in Table 2. All assets and liabilities are reflected at fair value minus costs for sale (usually defined using external appraisers).

Table 2.Generalized statement of financial position (option 1)

Article
Business reputation	40 000	(15 000)	25 000
	120 000	(30 000)	90 000
License	30 000		30 000
Receivables	10 000		10 000
Cash	50 000		50 000
Accounts payable	(20 000)		(20 000)
TOTAL	230 000	(45 000)	185 000

Some time after the purchase, three cars are invited. The company did not have time to reorganize insurance policies on cars to hijacking and insurance organization refused to compensate for a loss. The company must recognize an impairment loss. After the analysis and calculations, it turned out that the impairment loss would be more than the cost of cars. The fact is that there fell in general the cost from the use of the EDP, which is the whole business "Taxi".

According to the company's estimates, the total impairment loss is 45,000 US dollars. In this case, 30,000 US dollars need to be written off against the cost of fixed assets, and the residue is against the amount of goodwill. The financial statement report will change as shown in Table 2.

Sometimes it may turn out that the company has distributed an impairment loss between assets, taking into account the specified limit, but their cost was not enough for complete "absorption" of this loss.

Suppose that, according to the company's estimates, an impairment loss amounted to not $ 45,000, but $ 75,000. Changes in the financial statement report are presented in Table 3.

Table 3.Generalized financial statement (option 2)

Article	Amount at the date of purchase, US dollars	Impairment loss, US dollars	Amount at the reporting date, US dollars
Business reputation	40 000	(40 000)	-
Cars (12 pcs. $ 10,000)	120 000	(30 000)	90 000
License	30 000		30 000
Receivables	10 000		10 000
Cash	50 000		50 000
Accounts payable	(20 000)		(20 000)
TOTAL	230 000	(70 000)	160 000

In the situation under consideration, the EDP cannot depreciate up to $ 155,000 (230,000 - 75,000), since the fair value of the EDP assets minus sales costs are equal to 160,000 US dollars. In this case, the RDP is more profitable to sell separately by assets, and not continue to use in the current state.

Step 5. Analyze the situation after the reporting date.

The company should also assess the market situation after the reporting date. Most often, unexpected situations on the market, it is impossible to foresee during the construction of forecasts, so these calculations do not adjust. But such events should be taken into account when testing for impairment in the next reporting period, as well as disclose information in notes to financial statements.

At the next reporting date, you must not forget to assess the situation in order to identify any indicators that previously recognized amounts of impairment losses must be restored.

Exception - Goodwill: If it once devalued, it is never impossible to restore this amount. This is due to the fact that IFRS prohibits the recognition of the internally created goodwill, and an increase in the amount of goodwill after recognition of an impairment loss is most often associated with the creation of an internal goodwill.

Step 6. Prepare disclosures

All work, analysis, calculations for conducting an impairment test must be documented - not only for future generations, but also in order to disclose such data on pages as:

• what criteria assigned you to the idea of \u200b\u200bthe need for impairment;
• how did you consider the value of the use of an asset (if this estimate is chosen as a recoverable amount), including what a discount rate was used, what duration was the forecast period in your calculation;
• how did you consider the fair value of the asset less the cost of sale (if this estimate is chosen as a recoverable amount), including whether fair value is determined based on the active market data;
• what amount did you reflect and for what line of reporting;
• what amount losses were restored;
• a description of a unit generating cash flows - as it has been identified and evaluated;
• analysis of sensitivity showing how the change in assumptions used in the calculation will affect the amount of impairment.

As it is best to use the most conservative numbers. For example, warn users of reporting on the loss of 100 percent of the book value of the fixed assessment.

In practice, such a situation may arise when the company understands that the impairment of the asset has occurred and its carrying cost does not reflect more real pictures. However, due to certain circumstances (for example, the lack of necessary data), it is impossible to calculate correctly and reflect the amount of the loss. What to do in such cases? Here you can use the following approach: it is better not to count anything than to calculate something that the company itself does not believe. Probably this amount will be incomprehensible and user, so it can distort the reporting figures even more. In such a situation, it is necessary to disclose information about possible impairment loss in notes to prepare a reporting user to the fact that in the following periods when clarifying the situation, it can see the negative financial implications of any events.

Another slippery moment is associated with assets insurance. The company knows that something happened to the asset and it falls under the insief case. But at the time of the reporting, the situation did not exceed the end and insurance compensation Not yet received. How to do in that case? First, in no case is not "to catch" the amount of receivables for insurance with an asset depreciation amount. These are different accounting objects, and their account must be conducted separately. And if the insurance company also disputes the amount of the loss or does not recognize this moment The case of insurance, then the company has no right to recognize any insurance asset in its reporting.

Also note that, if the state of your company is not enough for self-fulfillment of an impairment test, consultants and independent appraisers should be attracted to solve this task. This is especially true for testing for impairment of business reputation and the EDP.

Order of the Federal Service for Tariffs (FTS of Russia) of March 3, 2011 No. 57-E. "On Approval Methodical instructions By calculating the weighted average cost of own and borrowed capital, which is attracted to implement investment project on the formation of a technological reserve for electricity production facilities. "

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Nuances of the methodology

Accounting for joint activities in a new way

Yulia Yuryeva, editor-in-chief of the IFRS magazine in practice

For risk management in the implementation of long-term projects of the company traditionally use various forms of joint activities. Soon, the procedure for taking into account individual agreements on joint ventures will change dramatically.

The 2011 IFRS 11 (IFRS) 11 establishes the procedure for taking into account joint activity agreements. These Agreements Standard defines as contractual agreements on which two or several Contracting Parties carry out joint control.

To properly appreciate and reflect the current and future joint activities agreements, companies in addition to the provisions of IFRS 11, it is also necessary to understand the potential consequences of the application of new IFRS 10 "Consolidated Financial Reporting" and IFRS 12 "Disclosure of information on participation shares in other companies. " Thus, IFRS 10 enters a new definition of control and contains additional instructions that may affect the results of a previously conducted assessment on the availability of joint control. IFRS 12 contains advanced information disclosure requirements regarding joint activities agreements.

New standards are required to be applied from annual reporting periods beginning on January 1, 2013 or after this date, and should be applied on a retrospective basis.

New terms - new concepts

Some generally accepted terms in the new standard received new definitions that are not quite obvious and clear. This creates a fair confusion. For example, what was previously called joint ventures in the new standard is marked with a general term "joint activity agreement". And the definition of the term "joint venture" in IFRS 11 is significantly narrowed. Similarly, the term "proportional consolidation" was widely used (and continue to use) to denote all methods of accounting for joint ventures when the company recognizes its share of assets and obligations in a joint venture. Now, this term does not correspond to the accounting procedure, which is now used to take into account jointly controlled assets (SKA) and jointly controlled operations (SCS) in accordance with IAS 31 "Participation in Joint Entrepreneurship", and in the future will be used to account for joint operations in accordance with IFRS 11.

Joint control under the new rules

Thank you for assisting in the preparation of the material

The article was prepared on the basis of the publication "The consequences of adopting new standards governing the reflection in the accounting of agreements on joint activities and the consolidation procedure" of Ernst & Young. Separately, we thank Alexey Lose, a partner, head of the service team to companies in the oil and gas industry in the CIS Ernst & Young.

To begin with, we will define that now is a joint control. The new standard determines the joint control as "... The collective implementation of the collective implementation of joint activities, which takes place only in cases where the unanimous consent of the parties carrying out joint control is required for decision-making on significant aspects of activities. At the same time, the following joint control characteristics are allocated in IFRS 11:

• the conditionality of the contract is a joint venture agreement, as a rule, is issued in writing and determines the conditions for conducting such activities;
• monitoring and significant aspects of activity - in IFRS 10 describes an approach to assessing the availability of joint control, as well as to identify significant aspects of activities;
• unanimous consent - takes place in cases where the parties to the agreement on joint activities carry out collective control over this activity, but none of the parties have one-sided control over it.

The differences from the current order concerns the establishment of the fact of the presence of control, as well as the definition of significant aspects of activities. The requirement of unanimous consent is not innovation, however, the standard contains additional instructions that explain when it takes place.

Note!

Despite the fact that certain aspects of joint control remained unchanged, companies should be determined whether it is carried out by joint control in accordance with IFRS 11. This is due to the fact that "control" in the new definition of joint control is based on the control concept given in IFRS 10.

As a new consolidation standard affects the establishment of joint control. A common practice in joint activities is the appointment of one of the parties to the Agreement by the Operator or Manager (hereinafter referred to as the operator). This operator of the Agreement may partially delegate decision-making powers. Now, many believe that the operator does not have control over joint activities: its functions are reduced only to the execution of the parties to the parties on the joint venture agreement (or agreements on the implementation of joint work (CCMR)). That is, in fact, the operator acts as an agent. However, on the basis of new standards, it may turn out that the operator will control the joint activities. This is possible due to the fact that IFRS 10 now introduces new requirements for assessing that the company has a principal or agent. Such an approach is used to determine the parties that monitors. The assessment of the operator acts as a principal (and, accordingly, can actually monitor joint activities) or as an agent will require careful analysis. With it, it is necessary to take into account the scope of authority of the decision-making operator, the rights of other parties, the remuneration of the operator, the income from other forms of participation in joint activities.

If it turns out that the operator acts as an agent, he recognizes only his share of participation in joint activities, as well as a reward for operator services. The accounting procedure for the share of the operator in joint activities will depend on whether these activities are joint operations or joint venture.

What is "significant aspects of activity". These are such aspects of joint activities that have a significant impact on its yield. To determine such aspects, you need to apply a professional judgment.

The solutions for significant aspects of activity can be attributed:

• solutions on operational issues and investment, including budget (for example, program approval capital investments next year);
• decisions on the appointment of key management personnel, attracting contractors for the provision of services, determine their remuneration, etc.

Note!

The decision-making procedure may vary during the period of joint activities. For example, in the oil and gas industry at the stage of exploration and evaluation, one side of the Agreement may take all decisions. However, at the decision-making stage, the unanimous consent of all parties is required. In this case, it is necessary to determine which of the activities of joint activities (intelligence, evaluation, development) has the most significant impact on its profitability. If unanimous consent is necessary on issues that have the most significant impact on yield, then the activity is considered joint.

What does "unanimous agreement" mean. In order to conclude the availability of joint control, one also needs unanimous consent to significant aspects of activities. Unanimous agreement means that any part of the joint activity may impede the adoption by other Parties (or by the Party) of unilateral decisions on significant aspects of activities. If the requirement of unanimous agreement applies only to decisions that empower the rights of protection, or to decisions related to administrative issues, such a party has no joint control. So, the right to impose a veto to the decision on the termination of the business in the framework of the joint activity agreement is rather the right of protection, and not the right leading to co-control. However, if such a veto right refers to significant aspects of activities (for example, to approval of the budget of capital investments), it may be the basis for joint control.

In some cases, the joint control can indirectly clarify the decision-making procedure, which is provided for in the agreement on the implementation of joint work (CVSR). Suppose, for joint activities with the participation of 50/50 percent of CCMR, it provides that decisions on significant aspects of activity are accepted if no less than 51 percent of the votes have been submitted. Thus, decisions on significant aspects of activity cannot be taken without the consent of both parties. In fact, the parties indirectly agreed on joint control.

The provisions of CVSR can also establish a minimum threshold for decision-making. Often such a minimum threshold can be achieved by the consent of the various parties. In this case, the joint control cannot be said if the agreement does not provide for the unanimous consent of which parties it is necessary to make decisions on significant aspects of activities. In IFRS 11, several examples are given to illustrate this aspect (Table 1).

Table 1. The impact of CCD requirements for joint control establishment

Parties to the Agreement	Example 1.	Example 2.	Example 3.
		75 percent of the votes are required to make decisions on significant aspects.	For decision-making for significant aspects, most votes need
Party a, percentage of votes	50	50	35
Party B, percentage of votes	30	25	35
Side C, percentage of votes	20	25	-
Others, percentage of votes	-	-	Dispersed among a large number of shareholders
Output	Despite the fact that the party A can block any solution, it has no control over joint activities. For decision-making side A, the consent of Part B is necessary. Thus, the parties A and B jointly control the activities		Monitoring (joint control) is absent, since various options can be used to make a decision.

Types of joint activities

After the combined control is established, joint activities are divided into two categories: joint operations and joint ventures.

A significant difference between IFRS 11 from IAS 31 lies in the fact that now the existence of a legally executed agreement is not a key factor for selecting the metering method. The classification of joint activities is now based on the assessment of the rights and obligations that occur among participants under the terms of the agreement.

Under joint operations, the standard understands an agreement on joint activities, as a result of which participants remain direct rights regarding assets and direct debt repayment obligations.

Joint enterprises are an agreement on joint activities, as a result of which participants receive the rights to clean assets and the result of the Agreement. At the same time, the category of joint ventures include only those agreements that are structured in the form of a separate enterprise. Thus, agreements not structured in the form of a separate enterprise are always referred to as collaborative operations.

The classification of joint activities in accordance with IFRS (IFRS) 11 "Co-Activities" and IAS 31 "Participation in Joint Entrepreneurship" is shown in the figure.

Picture.Species of joint activities in accordance with IFRS 31 and IFRS 11

Accounting for joint operations

IAS 31 allocated in separate categories jointly controlled assets (SKA) and jointly controlled operations (skate). In accordance with IFRS 11, both of these types of joint ventures are now called joint operations (CO). The procedure for reflection in accounting such operations mainly complies with the requirements of IAS 31. In particular, the joint operator (not to be confused with the Operator on Joint Activities) continues to recognize its assets, obligations, income and expenses and (or), if any Shares in them. Earlier, we have already noted that this accounting procedure is often incorrectly called proportional consolidation, although in fact it is not so. Probably, this ambiguity is associated with the nature of the use of the term "proportional consolidation" within the US GAAP. There it is used to describe the accounting method similar to the accounting method of SKA and SCS (and now joint operations) in accordance with IFRS. As a result, unreasonable concern arose that all shares of participation in joint activity agreements will need to be reflected by the method participation. This is not true.

Since the organizational and legal form of the Agreement is no longer a key factor in choosing the metering method, it may be that some jointly controlled enterprises (in the terminology of IFRS (IAS) 31) will need to be attributed to the category of joint operations. If the company has previously applied a proportional consolidation method for accounting for such agreements, the transition to the requirements of IFRS (IFRS) 11 may not affect the company's financial statements. So, if the joint operator has the right to a certain share (for example, 50%) in all assets, as well as the obligations to fulfill the same specific share (50%) of all obligations, most likely there will be no difference in reflecting in accounting for joint operations ( According to IFRS 11) and the use of a proportional consolidation method for accounting for a jointly controlled enterprise (according to IAS 31). However, financial statements will differ from the former prepared according to the method of proportional consolidation, if.