PBU 8 estimated liabilities. Estimated Liabilities: Everything You Wanted to Know

The Ministry of Finance of Russia is systematically working to improve the regulatory framework for accounting... By order of the Ministry of Finance of Russia dated 13.12.2010 No. 167n, a new edition of the eighth standard was approved. N.N. Tomilo, Ministry of Finance of Russia, comments on PBU 8/2010 " Estimated liabilities, contingent liabilities and contingent assets ".

dated June 30, 2004 No. 329PBU 8/01

PBU 8/2010 of 13.12.2010 No. 167nPBU 8/01

PBU 8/2010

PBU 8/01, PBU 8/2010

PBU 8/2010 dated July 24, 2007 No. 209-FZ

PBU 8/2010

PBU 8/2010 does not apply to:

• PBU 8/2010 Appendix 1 to PBU 8/2010;
• PBU 5/01 PBU 19/02
• PBU 18/02

PBU 8/2010

In 2010, in order to improve legal regulation in the field of accounting and accounting statements and in accordance with the Regulations on the Ministry of Finance of Russia (approved by the Government of the Russian Federation of June 30, 2004 No. 329), the Ministry of Finance of Russia revised PBU 8/01 "Conditional facts economic activity". In August 2010, draft PBU 8/2010 was posted on the official website of the Ministry of Finance of Russia on the Internet and is available for review and sending comments and suggestions by interested parties.

PBU 8/2010 "Estimated Liabilities, Contingent Liabilities and Contingent Assets" (hereinafter - PBU 8/2010) was approved by order of the Ministry of Finance of Russia dated 13.12.2010 No. 167n (registered with the Ministry of Justice of Russia 03.02.2011 No. 19691). When revising PBU 8/01 "Conditional facts of economic activity", the content of the document has changed significantly.

PBU 8/2010 should be applied by organizations (excluding credit ones) that are legal entities according to the legislation of the Russian Federation.

Please note that, unlike the previous procedure established by PBU 8/01, PBU 8/2010 should also be applied by non-profit organizations.

A special simplified procedure for the application of PBU 8/2010 is established only for small businesses. The criteria for the recognition of small businesses are established by the Federal Law of July 24, 2007 No. 209-FZ "On the development of small and medium-sized businesses in Russian Federation"providing for the possibility of simplified accounting and the formation of financial statements.

PBU 8/2010 may not be applied by these entities, with the exception of small businesses - issuers of publicly placed securities.

PBU 8/2010 does not apply to:

• contracts for which, as of the reporting date, at least one party to the contract has not fully fulfilled its obligations, with the exception of the so-called knowingly unprofitable contracts. In accordance with PBU 8/2010, such contracts are understood as contracts, the inevitable costs of the execution of which exceed the proceeds expected from their execution. In this case, the contract is not recognized as knowingly unprofitable if its execution can be terminated by the organization in unilaterally without significant sanctions. An example of knowingly unprofitable contracts is given in Appendix 1 to PBU 8/2010;
• reserve capital, reserves formed from retained earnings organizations;
• estimated reserves. The estimated reserves include provisions for impairment of inventories, according to doubtful debts, for the depreciation of investments in securities... The rules for the formation of these reserves are established by PBU 5/01 "Accounting for inventories", Regulations on accounting and financial reporting in the Russian Federation and PBU 19/02 "Accounting financial investments" respectively;
• amounts that, in accordance with RAS 18/02 "Accounting for calculations of corporate income tax", affect the amount of corporate income tax payable in the next reporting period or in subsequent reporting periods.

Contingent asset and contingent liability

In addition to estimated liabilities PBU 8/2010, such categories as contingent asset and contingent liability have been established.

Contingent asset arises for an organization as a result of past events in its economic life, when the existence of an asset for the organization at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the organization.

Contingent liability arises for an entity as a result of past events in its economic life, when the entity's existence of a liability at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the entity.

Contingent liabilities also include an estimated liability existing at the reporting date that was not recognized in accounting due to the failure to fulfill such conditions as:

• decrease economic benefits the organization needed to fulfill the estimated liability is likely;
• the amount of the provision can be reasonably estimated.

The part of the joint liability with other persons in respect of which it is not probable that the economic benefits of the organization will decrease is related to contingent liabilities.

Contingent liabilities and contingent assets are not recognized in accounting. Information about them is disclosed in the financial statements in accordance with RAS 8/2010. Based on the available facts of the organization's economic life, an analysis of the existing practice in relation to the fulfillment of similar obligations, as well as, if necessary, the opinions of experts, the organization determines the amount of the estimated liability. In doing so, the organization must document the validity of such an assessment.

At the same time, the amount of the estimated liability should represent the most reliable monetary estimate of the costs required to settle this obligation, that is, the amount required directly to fulfill (repay) the obligation or to transfer the obligation to another person as of the reporting date.

In determining the amount of the provision, an entity shall consider the following:

• if the value of the estimated liability is determined by choosing from a set of values, then the weighted average is taken as such a value, which is calculated as the average of the products of each value by its probability;
• if the value of the estimated liability is determined by choosing from an interval of values, and the probability of each value in the interval is equal, then the arithmetic mean of the largest and smallest values ​​of the interval is taken as such a value.

In addition, in determining the amount of the provision, the consequences of events after the reporting date, the risks and uncertainties inherent in the provision, and probable future events that may affect the amount of the provision are taken into account.

When determining the amount of the estimated liability, the amount of a decrease or increase in corporate income tax determined in accordance with PBU 18/02, expected receipts from the sale of assets (fixed assets, intangible assets, products, goods, etc.) associated with the recognized estimated liability, the expected amount of counterclaims or the amount of claims against other persons in reimbursement of expenses that the organization may incur in fulfilling this estimated liability.

If the organization has confidence in the receipt of economic benefits from counter claims or claims to other persons when the organization fulfills the corresponding estimated liability accepted for accounting, such claims are recognized in accounting as an independent asset. The amount of such an asset should not exceed the amount of the corresponding provision.

For example, the expected reimbursement from an insurance company may be recognized as such an asset if the events giving rise to the provision are recognized as an insured event.

In the balance sheet of the organization, the amount of the recognized provision is not reduced by the amount of such an asset.

In the statement of profit and loss of the organization, expenses reflected in the recognition of estimated liabilities are presented net of income recognized upon acceptance for accounting as an asset of expected receipts from counter claims and claims to other parties.

If the estimated date for the fulfillment of the estimated obligation exceeds 12 months after the reporting date or a shorter period established by the organization in accounting policies, such a provision is measured at a cost determined by discounting its amount, which is referred to below as the present value.

The discount rate applied by the entity should reflect existing financial market conditions, as well as risks specific to the obligation underlying the recognized estimated liability, and should not reflect the amount of decrease or increase in corporate income tax determined in accordance with RAS 18/02, as well as risks and uncertainties that have already been taken into account by the organization in calculating the future cash payments arising from the provision.

An increase in the amount of the estimated liability due to an increase in its present value at subsequent reporting dates as the deadline approaches (interest) is recognized as other expenses of the organization. In actual calculations for recognized estimated liabilities during the reporting year, the organization's accounting records the amount of the organization's costs associated with the organization's fulfillment of these obligations, or the corresponding payables in correspondence with the debit of account 96 "Reserves for Future Expenses".

If the amount of the recognized estimated liability is insufficient, the costs of the organization to settle the obligation are reflected in the accounting of the organization in a general manner.

In case of excess of the amount of the recognized provision or in case of termination of the fulfillment of the conditions for recognition of the provision established by RAS 8/2010, the unused amount of the provision is written off with the transfer to other income of the organization, unless it comes on the repayment of homogeneous estimated liabilities arising from recurring business transactions ordinary activities organizations. When such similar liabilities are extinguished, previously recognized excess amounts are credited to the next provision of the same type immediately upon recognition (without writing off previously recognized excess amounts to other income of the organization).

An example of such a liability would be provision for upcoming vacations.

The validity of recognition and the amount of the estimated liability are subject to verification by the organization at the end of the reporting year, as well as upon the occurrence of new events associated with this liability. Based on the results of such a check, the amount of the estimated liability may be:

• increased or decreased upon receipt additional information, allowing to make the specification of the amount of the estimated liability;
• remain unchanged;
• written off in full upon receipt of additional information indicating that the conditions for recognition of a provision have ceased to be fulfilled.

PBU 8/2010 Disclosure of information in the financial statements established the following requirements for disclosure of information on estimated liabilities, contingent liabilities and contingent assets.

For each estimated liability recognized in accounting, at least the following information is disclosed, if it is material:

• the amount at which the estimated liability is reflected in the balance sheet of the organization at the beginning and end of the reporting period;
• the amount of the provision recognized in reporting period;
• the amount of the provision written off for cost recognition or recognition accounts payable in the reporting period;
• the amount of the estimated liability written off in the reporting period due to its excess or the termination of the fulfillment of the conditions for recognizing the estimated liability;
• an increase in the amount of the estimated liability due to an increase in its present value for the reporting period (percent);
• the nature of the obligation and the expected date of its performance;
• uncertainties in relation to the timing and / or the amount of the estimated liability;
• the expected amounts of counterclaims or the amount of claims against third parties in reimbursement of expenses that the entity will incur in fulfilling the obligation, as well as the assets recognized for such claims.

For each contingent liability, the financial statements disclose at least the following information:

• the nature of the contingent liability;
• the estimated value or range of the estimated values ​​of the contingent liability, if determinable;
• uncertainties in relation to the timing and (or) the amount of the obligation;
• the possibility of receipts as a result of counter claims or claims against third parties in reimbursement of expenses that the organization will incur in fulfilling the obligation.

If, at the reporting date, it is unlikely that the economic benefits of the entity will decrease due to the contingent liability, the entity may not disclose this information.

Provisions and contingent liabilities may be disclosed by peer group (for example, provisions due to guarantees issued by the entity, litigation).

If a provision and a contingent liability arise from the same business facts, the relationship between the related provision and the contingent liability should be disclosed.

When it is probable that economic benefits will flow to a contingent asset, an entity shall disclose, at the end of the reporting period, the nature of the contingent asset and its estimated value or range of estimates, if determinable.

In exceptional cases, when disclosure of information about provisions, contingent liabilities and contingent assets to the extent specified in this Regulation causes or may cause damage to the organization in the course of resolving the consequences of the underlying obligations and facts, the organization may not disclose such information.

In this case, the entity shall indicate the general nature of the related provision, contingent liability or contingent asset and the reasons why further details are not disclosed.

Estimated liability

A provision is a liability of an entity with an uncertain amount and / or timing.

Estimated liabilities can arise in the economic life of an organization due to various factors - the norms of legislative and other regulatory legal acts, judgments, contracts; The entity's actions that, due to established past practice or statements by the entity, indicate to others that the entity is assuming certain responsibilities, and as a result, such persons have a valid expectation that the entity will fulfill those responsibilities.

For example, estimated liabilities may arise due to the fact that an accident occurred in the organization during the reporting period, as a result of which pollution occurred. environment and as at the reporting date, the organization is in negotiations with the authorities regarding compensation for the damage caused; in case of involvement in legal proceedings in connection with the claim of buyers to the quality of its products, etc.

PBU 8/2010 established that the estimated liability is recognized in accounting, while the following conditions are met:

• the organization has a duty resulting from past events in its economic life, the fulfillment of which the organization cannot avoid. When an entity has doubts about the existence of such an obligation, the entity recognizes a provision if, as a result of an analysis of all the circumstances and conditions, including expert opinion, it is more likely than not that the obligation exists;
• decrease in the economic benefits of the organization necessary to fulfill the estimated liability is likely.

Note that in PBU 8/01, four degrees of the likelihood of consequences were established conditional facts economic activity: very high (95-100%), high (50-95%), medium (5-50%) and small (0-5%). These estimates did not imply an accurate quantitative measurement of probability, and were intended to provide a general understanding of the various levels of probability used in accounting and reporting.

V new edition a "more likely than not" approach is used to assess the likelihood.

The probability of a decrease in economic benefits is assessed for each liability separately, unless at the reporting date there are several liabilities that are of a similar nature and the uncertainties that arise from them, which the entity collectively assesses. At the same time, despite the fact that a decrease in the economic benefits of an organization for each individual obligation may be unlikely, a decrease in economic benefits as a result of the fulfillment of the entire set of obligations may be quite probable.

Example

The organization sells electrical products with a one year warranty from the date of sale. With regard to the sale of each individual unit of goods, a decrease in the economic benefits of the organization due to its return as defective and not subject to repair or due to the cost of repairing it is not likely. At the same time, calculations based on the organization's past experience show that there is a possibility that approximately 3% of the sold goods will be returned as non-repairable, and another 11% will require additional costs for warranty repairs. In this regard, the organization assesses the estimated liability arising from the sale of electrical goods with the obligation of their warranty service, in relation to the entire set of goods.

At each reporting date, an entity should analyze the conditions for recognizing a provision related to past events in its economic life. This is necessary due to the fact that these conditions may not be met at one reporting date, and are fulfilled as of subsequent reporting dates.

For example, in October 2010, the organization allowed environmental pollution, but the amount of damage caused as of December 31, 2010 was calculated and agreed with the authorities, that is, as of the reporting date - December 31, 2010, not all the conditions for recognizing the estimated liability were met , in connection with which it could not be recognized in accounting. However, at the reporting date, the entity must recognize a contingent liability in accordance with PBU 8/2010. With the final determination and agreement of the amount of compensation in 2011, the organization will be able to recognize the estimated liability in accounting.

Additional requirements are established by PBU 8/2010 in relation to the recognition of estimated liabilities in connection with the upcoming restructuring of the organization's activities. The restructuring of the organization's activities is understood to mean the implementation of a program of actions planned and controlled by the organization's management, which will significantly change the direction of the organization's activities, the volume of business operations or the methods of their implementation.

For example, if an organization plans to move from retail to wholesale, open a new line of business, close their retail stores and sell products online.

Obligations for the upcoming restructuring of the organization's activities are recognized as existing at the reporting date, subject to the following conditions:

1. The organization has a detailed, duly approved plan for the upcoming restructuring of its activities, which determines, at a minimum:

• the activity (or part of the activity) of the organization and the place of its implementation affected by the forthcoming restructuring;
• structural divisions, functions and the approximate number of employees of the organization to whom compensation will be paid in connection with the termination of labor relations with them;
• expenses required for the forthcoming restructuring of the organization's activities;
• the time of the beginning of the execution of the plan for the forthcoming restructuring of the organization's activities.

2. The organization, through its actions and (or) statements, has created reasonable expectations among persons whose rights are affected by the forthcoming restructuring of the organization's activities that the restructuring plan will be implemented in the near future.

In accounting, estimated liabilities are reflected in account 96 "Reserves for future expenses".

When a provision is recognized, depending on its nature, the amount of the provision is charged to ordinary activities or other expenses, or is included in the cost of the asset. Thus, in accounting records can be made:

Debit 20 "Main production", 23 " Ancillary production", 25" General production costs "26" General running costs", 29 "Service production and households ", 44" Selling expenses ", 91" Other income and expenses ", 07" Equipment for installation ", 08" Investments in fixed assets"and others. Credit 96" Provisions for future expenses ", separate sub-accounts.

If the entity has joint and several liability with other persons, the provision is recognized to the extent that it is probable that the economic benefits of the organization will decrease, provided that all the conditions for recognition of the provision are met. For example, in accordance with Article 1489 of the Civil Code of the Russian Federation on the requirements for the licensee as a manufacturer of goods, the licensee and the licensor are jointly and severally liable and in this regard, if an estimated liability arises, subject to the established PBU 8/2010 general conditions it is recognized by both the licensee and the licensor.

Estimated liabilities in relation to expected losses from the activities of the organization as a whole, or from certain types or regions of its activity, divisions, types of products (works, services) and from other factors are not recognized in accounting.

For example, the organization assumes that the production of household electrical appliances as one of its activities in 2011 will be unprofitable. Consequently, estimated liabilities are not recognized in accounting.

Dear Readers!

We bring to your attention the explanations on the application of PBU 8/2010 “Estimated Liabilities, Contingent Liabilities and Contingent Assets” developed by the Moscow Region IPB and LLC Auditing Service STEK (approved by order of the Ministry of Finance of Russia dated 13.12.2010 No. 167n).

Reviewers: L.A. Dubovenko, I.A. Gorodetskaya, V.O. Kolik, I.N. Lozhnikov, N.V. Poditeleva.

Yu.L. Sinitsyna, Leading Consultant of LLC "Auditing Service" STEK ", auditor

VC. Shchelkunova, Senior Specialist of LLC "Audit Service" STEK "

Clarifications are not normative legal act accounting. They present the view of the specialists of the IPB of the Moscow region on the possible application and interpretation by organizations (with the exception of credit institutions and state (municipal) institutions), which are legal entities under the legislation of the Russian Federation PBU 8/2010. They contain recommendations on the organization and accounting of transactions related to the recognition, write-off and change in the value of estimated liabilities, as well as on the order of reflection of information on estimated liabilities, contingent liabilities and contingent assets in the financial statements.

The explanations have been developed on the basis of accounting regulations in force as of November 01, 2011.

General Provisions

In order to improve the regulatory framework in the field of accounting and financial reporting and convergence with the requirements international standards financial statements(IFRS) by order of the Ministry of Finance of Russia dated December 13, 2010 No. 167n, PBU 8/2010 "Estimated Liabilities, Contingent Liabilities and Contingent Assets", applied from the 2011 financial statements, was approved.

The facts of the organization's economic activity, in respect of which estimated liabilities may be reflected in accounting, if the conditions for their recognition are met, are:

Litigation not completed at the reporting date, in which the organization acts as a defendant and decisions on which can only be taken in subsequent reporting periods, leading to an outflow of economic benefits to the organization;

Disagreements not resolved at the reporting date with tax authorities regarding the payment of payments to the budget;

Issued by the organization warranty obligations in respect of products, goods, works performed, services rendered by it in the reporting period;

Obligations in relation to environmental protection, environmental protection measures, land reclamation associated with production activities organization and arising from the requirements of legislative and normative documents, contracts, actions or statements of the organization;

Decommissioning of facilities, liquidation obligations for fixed assets and capital investments;

Organization restructuring, sale or termination of any direction of the organization's activities, closure of organizational units or their relocation to another geographic region, etc.;

The presence of concluded contracts, the inevitable expenses for the execution of which exceed the proceeds expected from their execution (deliberately unprofitable contracts) in accordance with paragraph 2 of PBU 8/2010;

Obligations to employees to pay holidays for the time they have worked;

Obligations to employees for the payment of benefits for the length of service and the results of work for the year;

Other similar facts.

Disclosure of information in financial statements

An entity's balance sheet does not reduce the amount of a recognized provision for the asset recognized because it is confident that economic benefits will flow from counterclaims or claims against others to recover the costs that the entity is expected to incur in meeting the related provision. The amounts of the recognized provisions and related assets are shown on a gross basis in the entity's balance sheet.

In the statement of profit and loss of the organization, expenses reflected in the recognition of estimated liabilities are presented net of income recognized upon acceptance for accounting as an asset of the expected receipts from counterclaims and claims to other persons in reimbursement of expenses that the organization is expected to incur when fulfilling the corresponding estimated liabilities.

The amounts of estimated liabilities recognized in accounting with division, depending on the expected period of their fulfillment into long-term and short-term, should be reflected in the line "Estimated liabilities" of section IV "Long-term liabilities" and in the line "Estimated liabilities" of section V "Current liabilities", respectively (see . "For your information").

For your information

Information about the estimated liabilities recognized in accounting is also subject to disclosure in the notes to balance sheet and the income statement. The content of the explanations, drawn up in tabular and (or) text form, is determined by the organizations independently. Sample form the table "Estimated liabilities" of the explanations to the balance sheet and the income statement is given in<ссылка на приложение 1 в этом файле">Appendix No. 1 to these Clarifications.

In the notes to the balance sheet and the income statement for each estimated liability recognized in accounting in tabular form, the following information may be disclosed:

The amount at which the estimated liability is reflected in the balance sheet of the organization at the beginning and end of the reporting period;

The amount of the estimated liability recognized in the reporting period;

The amount of the estimated liability written off to reflect the costs or recognition of payables in the reporting period;

The amount of the estimated liability written off in the reporting period due to its excess or the termination of the fulfillment of the conditions for recognizing the estimated liability;

An increase in the amount of the estimated liability due to an increase in its present value for the reporting period (percent);

Expected date of performance of the obligation.

Information about the uncertainties that exist with respect to the timing and (or) the amount of the estimated liabilities, as well as the expected receipts from counterclaims and claims to other persons in reimbursement of expenses that the organization is expected to incur when fulfillment of estimated liabilities can be disclosed in text form in the explanations to the balance sheet and income statement or in an explanatory note.

For each contingent liability, the financial statements disclose at least the following information:

The nature of the contingent liability;

The estimated value or range of the estimated values ​​of the contingent liability, if determinable;

Uncertainties that exist in relation to the time of performance and (or) the amount of the obligation;

The possibility of income as a result of counter claims or claims against third parties in reimbursement of expenses that the organization will incur in fulfilling the obligation.

The obligation arose from the organization as a result of a past event in its economic life, and the organization cannot avoid the fulfillment of this obligation;

The decrease in the economic benefits of the organization when fulfilling the obligation is obvious;

The amount of the liability can be measured on a reasonable basis.

At the same time, the organization has confidence in the receipt of economic benefits on demand from the manufacturer (the manufacturer agreed to pay a fine and reimburse the cost of defective products). The amount expected from the manufacturer in the amount of 200 thousand rubles. is subject to recognition in accounting as an independent asset (receivables).

Business transactions in the accounting of the organization will be reflected in the following records:

At the time the provision is recognized

Debit 91 "Other income and expenses", subaccount "Other expenses" Credit 96 "Provisions for future expenses", subaccount "Estimated liability in relation to the plaintiff's claims"

RUB 230,000 - an estimated liability was recognized in connection with participation in the proceedings;

When the expected proceeds from claims against another person are recognized as an asset to reimburse the costs that the entity is expected to incur in meeting the provision

Debit 76 "Settlements with various debtors and creditors", subaccount "Settlements on claims" Credit 91 "Other income and expenses", subaccount "Other income"

RUB 200,000 - an asset is recognized in the amount expected from the manufacturer to pay a fine and reimburse the cost of defective products;

At the moment of writing off the estimated liability

Debit 96 "Provisions for future expenses", subaccount "Estimated liability in relation to the plaintiff's claims" Credit 76 "Settlements with various debtors and creditors", subaccount "Settlements on claims"

RUB 230,000 - written off the estimated liability in the amount of recognized accounts payable to the plaintiff on the basis of a court decision.

The balance sheet of the organization reflects:

In the section "Current assets" according to the indicator "Accounts receivable" 200,000 rubles expected from the manufacturer in payment of a fine and reimbursement of the cost of defective products;

In the section "Short-term liabilities" for the indicator "Estimated liabilities" 230,000 rubles. a provision recognized in connection with litigation.

The amounts of the recognized provision and the associated asset are shown on a gross basis in the entity's balance sheet.

In the profit and loss statement of the organization according to the indicator "Other expenses" 30,000 rubles are indicated. (expenses in the amount of RUB 230,000, reflected upon recognition of estimated liabilities, less income in the amount of RUB 200,000, recognized upon acceptance for accounting as an asset of expected receipts from claims against another person).

Information about the estimated liability recognized in accounting should also be disclosed in the notes to the balance sheet and income statement in tabular or textual form.

Information about the expected receipts from claims against another person (manufacturer) related to the recognized estimated liability accepted for accounting as an asset shall be disclosed in the notes to the balance sheet and the profit and loss statement or in an explanatory note in text form.

Accounting Regulation 8/2010 does not apply to deferred tax assets and liabilities arising from differences in accounting and tax accounting. These indicators are taken into account in accordance with the Accounting Regulations “Accounting for calculations of corporate income tax” PBU 18/02.

International Financial Reporting Standard (IAS) 37 prohibits the recognition of provisions for future operating losses, as their expectation usually indicates an impairment of the assets of the entity. The procedure for testing assets for impairment and recording impairment losses in international standards is established by IAS 36 "Impairment of Assets" (International Accounting Standard 36 Impairment of Asset). In domestic practice, to cover the losses of the organization, it is possible to create a reserve capital, which is formed either in accordance with the legislation or in accordance with the constituent documents of the organization at the expense of deductions from retained earnings. Accounting Regulation 8/2010 does not regulate the accounting of reserves formed from retained earnings, since these reserves do not relate to estimated liabilities, which fully complies with international standards. Note that Russian legislation does not contain a standard similar to IAS 36 Impairment of Assets.

The concept of "estimated reserves", which is also not covered by PBU 8/2010, is absent in IFRS. In domestic practice, the estimated reserves include reserves for doubtful debts, for the depreciation of financial investments, for a decrease in the value of tangible assets, created to clarify the real value of assets. In our opinion, the category “allowances” in IFRS corresponds to the concept of “impairment”.

Thus, the objects of IAS 37 and PBU 8/2010 are: estimated liabilities, referred to in international standards as provisions, contingent liabilities and contingent assets.

Order of the Ministry of Finance of the Russian Federation of December 13, 2010 N 167н
"On approval of the Regulation on accounting liabilities and contingent assets" (PBU 8/2010) "

In order to improve legal regulation in the field of accounting and financial reporting and in accordance with the Regulations on the Ministry of Finance of the Russian Federation, approved by the Government of the Russian Federation dated June 30, 2004 N 329 (Collected Legislation of the Russian Federation, 2004, N 31, Art. 3258; N 49, Art 4908; 2005, N 23, Art 2270; N 52, Art 5755; 2006, N 32, Art 3569; N 47, Art 4900; 2007, N 23, Art 2801 ; N 45, Art. 5491; 2008, N 5, Art. 411; N 46, Art. 5337; 2009, N 3, Art. 378; N 6, Art. 738; N 8, Art. 973; N 11, Art. 1312; N 26, Art. 3212; N 31, Art. 3954; 2010, N 5, Art. 531; N 9, Art. 967; N 11, Art. 1224; N 26, Art. 3350; N 38 , art. 4844), I order:

1. To approve the attached Accounting Regulation "Estimated Liabilities, Contingent Liabilities and Contingent Assets" (PBU 8/2010).

2. To declare invalid:

Order of the Ministry of Finance of the Russian Federation of November 28, 2001 N 96n "On approval of the Accounting Regulations" Conditional facts of economic activity PBU 8/01 "(the order was registered with the Ministry of Justice of the Russian Federation on December 28, 2001, registration N 3138;" Rossiyskaya Gazeta ", No. 6, January 12, 2002);

Clause 5 of the Appendix to the Order of the Ministry of Finance of the Russian Federation of September 18, 2006 N 116n "On Amendments to Regulatory Legal Acts on Accounting" (the order was registered with the Ministry of Justice of the Russian Federation on October 24, 2006, registration N 8397; "Rossiyskaya Gazeta ", No. 242, October 27, 2006);

Order of the Ministry of Finance of the Russian Federation of December 20, 2007 N 144n "On Amendments to the Accounting Regulations" Conditional Facts of Economic Activity "PBU 8/01" (the order was registered with the Ministry of Justice of the Russian Federation on January 21, 2008, registration N 10940 ; "Rossiyskaya Gazeta", N 18, January 30, 2008).

3. To establish that this order comes into force from the 2011 financial statements.

Accounting Regulations
"Provisions, Contingent Liabilities and Contingent Assets"
(PBU 8/2010)
(approved by order of the Ministry of Finance of the Russian Federation of December 13, 2010 N 167n)

With changes and additions from:

I. General Provisions

1. This Regulation establishes the procedure for reflecting estimated liabilities, contingent liabilities and contingent assets in the accounting and reporting of organizations (except for credit institutions, state (municipal) institutions) that are legal entities under the legislation of the Russian Federation (hereinafter - organizations).

2. This Regulation does not apply to:

a) contracts for which, as of the reporting date, at least one party to the contract has not fully fulfilled its obligations, with the exception of labor contracts, as well as contracts, the inevitable expenses for the execution of which exceed the proceeds expected from their execution (hereinafter - deliberately unprofitable contracts) ... The contract is not deliberately unprofitable, the execution of which can be terminated by the organization unilaterally without significant sanctions;

b) reserve capital, reserves formed from the retained earnings of the organization;

c) estimated reserves;

d) accounted for in accordance with the Accounting Regulations "Accounting for Calculations on Profit Tax of Organizations" PBU 18/02, approved by order of the Ministry of Finance of the Russian Federation of November 19, 2002 N 114n (registered with the Ministry of Justice of the Russian Federation on December 31, 2002 No. , registration N 4090) as amended by orders of the Ministry of Finance of the Russian Federation of February 11, 2008 N 23n "On amendments to the order of the Ministry of Finance of the Russian Federation of November 19, 2002 N 114n" (registered with the Ministry of Justice of the Russian Federation on March 3 2008, registration N 11274), dated October 25, 2010 N 132n "On amendments to regulatory legal acts on accounting" (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration N 19048) (hereinafter - the Regulation on accounting "Accounting for calculations of income tax of organizations" PBU 18/02), amounts that affect the amount of tax ha for the profit of organizations payable in the next reporting period or in subsequent reporting periods.

3. This Regulation may not be applied by organizations that have the right to apply simplified methods of accounting, including simplified accounting (financial) statements.

II. Recognition of a provision, recording information about a contingent liability and a contingent asset

4. The obligation of the organization with an uncertain amount and (or) maturity (hereinafter - the estimated liability) may arise:

a) from the norms of legislative and other normative legal acts, court decisions, contracts;

b) as a result of the organization's actions that, due to established past practice or statements by the organization, indicate to others that the organization is assuming certain responsibilities, and as a result, such persons have a valid expectation that the organization will fulfill those responsibilities.

5. An estimated liability is recognized in accounting if the following conditions are met:

a) the organization has a duty resulting from past events in its economic life, the fulfillment of which the organization cannot avoid. When an entity has doubts about the existence of such an obligation, the entity recognizes a provision if, as a result of an analysis of all the circumstances and conditions, including expert opinion, it is more likely than not that the obligation exists;

b) the decrease in the economic benefits of the organization, necessary to fulfill the estimated obligation, is likely;

c) the amount of the estimated liability can be reasonably estimated.

6. The conditions for recognizing an estimated liability in relation to a past event in the economic life of an organization that have not been met at one reporting date may be met as at subsequent reporting dates, if due to changes in legislative and other regulatory legal acts and (or) actions of the organization and (or) other persons, the organization has no way to avoid the calculations associated with such an event.

7. The decrease in the economic benefits of the organization necessary to fulfill the obligation is recognized as probable if it is more likely than not that such a decrease will occur. The probability of a decrease in economic benefits is assessed for each liability separately, unless at the reporting date there are several liabilities that are of a similar nature and the uncertainties that arise from them, which the entity collectively assesses. At the same time, despite the fact that a decrease in the economic benefits of an organization for each individual obligation may be unlikely, a decrease in economic benefits as a result of the fulfillment of the entire set of obligations may be quite probable.

Examples of the analysis of the circumstances for the purpose of recognizing the estimated liability in accounting are given in Appendix No. 1 to these Regulations.

8. Estimated liabilities are reflected in the account of reserves for future expenses. When a provision is recognized, depending on its nature, the amount of the provision is charged to ordinary activities or other expenses, or is included in the cost of the asset.

9. A contingent liability arises for an entity as a result of past events in its economic life, when the entity's existence of a liability at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the entity.

Contingent liabilities also include an estimated liability existing at the reporting date that was not recognized in accounting due to non-fulfillment of the conditions stipulated by subparagraphs "b" and (or) "c" of paragraph 5 of these Regulations.

10. If the organization has a joint and several liability with other persons, the estimated liability is recognized to the extent that it is probable that the economic benefits of the organization will decrease, subject to the conditions stipulated in paragraph 5 of this Regulation. The part of the joint liability with other persons in respect of which it is not probable that the economic benefits of the organization will decrease is related to contingent liabilities.

11. Estimated liabilities are recognized in connection with the upcoming implementation of an action program planned and controlled by the organization's management, which significantly changes the direction of the organization's activities, the volume of business operations or the methods of their implementation (hereinafter - the forthcoming restructuring of the organization's activities) if all the conditions established by paragraph 5 of this Regulation are met. , taking into account the specifics established by this paragraph. Obligations for the forthcoming restructuring of the organization's activities are existing at the reporting date, subject to the following conditions:

a) the organization has a detailed, duly approved plan for the upcoming restructuring of its activities, which determines, at a minimum:

the activity (or part of the activity) of the organization and the place of its implementation affected by the forthcoming restructuring;

structural divisions, functions and the approximate number of employees of the organization to whom compensation will be paid in connection with the termination of labor relations with them;

the time of the beginning of the execution of the plan for the forthcoming restructuring of the organization's activities;

b) the organization, through its actions and (or) statements, has created reasonable expectations among persons whose rights are affected by the forthcoming restructuring of the organization's activities that the restructuring plan will be implemented in the near future.

12. Estimated liabilities in relation to expected losses from the activities of the organization as a whole, or from certain types or regions of its activities, divisions, types of products (works, services) and from other factors are not recognized in the accounting records.

Estimated liabilities in respect of forthcoming expenses are recognized only if all the conditions established by paragraph 5 of these Regulations are met.

13. A contingent asset arises for an organization as a result of past events in its economic life, when the existence of an asset at the reporting date depends on the occurrence (non-occurrence) of one or more future uncertain events beyond the control of the organization.

14. Contingent liabilities and contingent assets are not recognized in accounting. Information on contingent liabilities and contingent assets is disclosed in the financial statements in accordance with this Regulation.

III. Determination of the amount of the estimated liability

15. The estimated liability is recognized in the accounting of the organization in the amount that reflects the most reliable monetary estimate of the costs required to settle this liability. The most reliable estimate of expenses is the amount required directly to fulfill (extinguish) the obligation as at the reporting date or to transfer the obligation to another person as at the reporting date.

16. The amount of the estimated liability is determined by the organization on the basis of the available facts of the economic life of the organization, experience with respect to the performance of similar obligations, as well as, if necessary, the opinions of experts. The organization provides documentary evidence of the reasonableness of such an assessment.

17. When determining the amount of the estimated liability, the organization proceeds from the following:

a) if the amount of the estimated liability is determined by choosing from a set of values, then the weighted average is taken as such a value, which is calculated as the average of the products of each value by its probability;

b) if the value of the estimated liability is determined by choosing from an interval of values, and the probability of each value in the interval is equal, then the arithmetic mean of the largest and smallest values ​​of the interval is taken as such a value.

Examples of determining the amount of the estimated liability are given in Appendix No. 2 to these Regulations.

18. When determining the amount of the estimated liability, the following are taken into account:

a) the consequences of events after the reporting date in accordance with the Accounting Regulations "Events after the reporting date" (PBU 7/98), approved by order of the Ministry of Finance of the Russian Federation of November 25, 1998 N 56n (registered with the Ministry of Justice of the Russian Federation on December 31 1998, registration N 1674) as amended by order of the Ministry of Finance of the Russian Federation of December 20, 2007 N 143n (registered with the Ministry of Justice of the Russian Federation on January 21, 2008, registration N 10934);

b) the risks and uncertainties inherent in this provision;

c) future events that may affect the amount of the estimated liability (if there is a reasonable likelihood that these events will occur).

19. When determining the amount of the estimated liability, the following are not taken into account:

a) the amount of a decrease or increase in corporate income tax, which is reflected in accounting and reporting in accordance with the Accounting Regulations "Accounting for calculations of corporate income tax" PBU 18/02;

b) expected proceeds from the sale of fixed assets, intangible assets, products, goods and other assets associated with the recognized estimated liability. Such receipts are reflected in the accounting of the organization in accordance with the Regulation on accounting "Income of the organization" PBU 9/99, approved by order of the Ministry of Finance of the Russian Federation of May 6, 1999 N 32n (registered with the Ministry of Justice of the Russian Federation on May 31, 1999, registration N 1791) as amended by orders of the Ministry of Finance of the Russian Federation of March 30, 2001 N 27n "On amendments and additions to regulatory legal acts on accounting" (registered with the Ministry of Justice of the Russian Federation on May 4, 2001, registration N 2693), dated September 18, 2006 N 116n "On amendments to regulatory legal acts on accounting" (registered with the Ministry of Justice of the Russian Federation on October 24, 2006, registration N 8397), dated November 27, 2006 N 156n " On Amendments to Regulatory Legal Acts on Accounting "(registered with the Ministry of Justice of the Russian Federation tion December 28, 2006, registration N 8698), dated October 25, 2010 N 132n "On amendments to regulatory legal acts on accounting" (registered with the Ministry of Justice of the Russian Federation on November 25, 2010, registration N 19048); dated November 8, 2010 N 144n "On amendments to regulatory legal acts on accounting (registered with the Ministry of Justice of the Russian Federation on December 1, 2010, registration N 19088);

c) the expected amount of counterclaims or the amount of claims against others in reimbursement of expenses that the organization is expected to incur in fulfilling this provision.

If the organization has confidence in the receipt of economic benefits from counter claims or claims to other persons when the organization fulfills the corresponding estimated liability accepted for accounting, such claims are recognized in accounting as an independent asset. The amount of such an asset should not exceed the amount of the corresponding provision. In the balance sheet of the organization, the amount of the recognized provision is not reduced by the amount of such an asset.

In the statement of financial results of the organization, expenses reflected in the recognition of estimated liabilities are presented net of income recognized upon acceptance for accounting as an asset of expected receipts from counter claims and claims to other parties.

20. If the estimated period of fulfillment of the estimated liability exceeds 12 months after the reporting date or a shorter period established by the organization in the accounting policy, such an estimated liability is assessed at a cost determined by discounting its value calculated in accordance with paragraphs 16-19 of this Regulation ( further - the present value).

The discount rate applied by the organization:

a) should reflect the existing conditions in the financial market, as well as the risks specific to the obligation underlying the recognized provision;

b) should not reflect the amount of a decrease or increase in corporate income tax, which are reflected in accounting and reporting in accordance with the Accounting Regulations "Accounting for calculations of corporate income tax" PBU 18/02, as well as the risks and uncertainties that were taken into account when calculating future cash payments caused by the estimated liability, in accordance with paragraphs 16 - 19 of these Regulations.

An increase in the amount of the estimated liability due to an increase in its present value at subsequent reporting dates as the deadline approaches (interest) is recognized as other expenses of the organization.

An example of determining the present value of the estimated liability is given in Appendix No. 2 to these Regulations.

IV. Write-off, change in the amount of the estimated liability

21. During the reporting year, when the actual calculations for recognized estimated liabilities in the accounting of the organization reflects the amount of the organization's costs associated with the organization's fulfillment of these obligations, or the corresponding payables in correspondence with the account of the reserve for future expenses.

A recognized provision may be written off against the recognition of costs or recognition of accounts payable to fulfill only the obligation for which it was created, unless otherwise provided by this Regulation.

If the amount of the recognized estimated liability is insufficient, the costs of the organization to settle the obligation are reflected in the accounting of the organization in a general manner.

22. In case of excess of the amount of the recognized estimated liability or in case of termination of the fulfillment of the conditions for recognition of the estimated liability established by paragraph 5 of this Regulation, the unused amount of the estimated liability is written off with attribution to other income of the organization, unless otherwise provided by this paragraph.

Upon extinguishing homogeneous provisions arising from recurring business operations of the entity's ordinary activities, previously recognized excess amounts are credited to the next estimated liabilities of the same type immediately upon recognition (without writing off previously recognized excess amounts to other income of the organization).

23. The reasonableness of recognition and the amount of the estimated liability are subject to verification by the organization at the end of the reporting year, as well as upon the occurrence of new events associated with this liability.

Based on the results of such a check, the amount of the estimated liability may be:

a) increased in accordance with the procedure established for the recognition of the estimated liability by paragraph 8 of these Regulations (without including it in the cost of the asset), upon receipt of additional information that makes it possible to clarify the amount of the estimated liability;

b) reduced in accordance with the procedure established for writing off the estimated liability by clause 22 of these Regulations, upon receipt of additional information that makes it possible to clarify the amount of the estimated liability;

c) remain unchanged;

d) written off in full in accordance with the procedure established by clause 22 of these Regulations, upon receipt of additional information that allows to conclude that the conditions for recognition of the estimated liability established by clause 5 of these Regulations have ceased.

V. Disclosure of information in financial statements

24. For each estimated liability recognized in accounting, the organization discloses, in case of materiality, at least the following information in the financial statements:

a) the amount at which the estimated liability is reflected in the balance sheet of the organization at the beginning and end of the reporting period;

b) the amount of the estimated liability recognized in the reporting period;

c) the amount of the estimated liability written off to reflect the costs or recognition of accounts payable in the reporting period;

d) the amount of the estimated liability written off in the reporting period due to its excess or the termination of the fulfillment of the conditions for recognizing the estimated liability;

e) an increase in the amount of the estimated liability due to an increase in its present value for the reporting period (percent);

f) the nature of the obligation and the expected date of its performance;

g) uncertainties in relation to the timing and (or) the amount of the estimated liability;

h) the expected amount of counterclaims or the amount of claims against third parties in reimbursement of expenses that the organization will incur in fulfilling the obligation, as well as assets recognized for such claims in accordance with paragraph 19 of this Regulation.

25. For each contingent liability, the financial statements disclose at least the following information:

a) the nature of the contingent liability;

b) the estimated value or range of the estimated values ​​of the contingent liability, if they are determinable;

c) uncertainties that exist in relation to the period of performance and (or) the amount of the obligation;

d) the possibility of receipts as a result of counter claims or claims against third parties in reimbursement of expenses that the organization will incur in fulfilling the obligation.

If, at the reporting date, it is unlikely that the economic benefits of the entity will decrease due to the contingent liability, the entity may not disclose this information.

26. Provisions and contingent liabilities may be disclosed by peer group (eg, provisions in connection with guarantees issued by the entity, litigation).

If a provision and a contingent liability arise from the same business facts, the relationship between the related provision and the contingent liability should be disclosed.

27. If it is probable that economic benefits will flow to a contingent asset, an entity shall disclose, at the end of the reporting period, the nature of the contingent asset and its estimated value or range of estimates, if determinable.

28. In exceptional cases, when the disclosure of information about provisions, contingent liabilities and contingent assets in the amount specified in this Regulation causes or may cause damage to the organization in the course of resolving the consequences of the underlying obligations and facts, the organization may not disclose such information. In this case, the entity shall indicate the general nature of the related provision, contingent liability or contingent asset and the reasons why further details are not disclosed.

Appendix N 1
to the Accounting Regulations
"Estimated liabilities, contingent
approved by order

Examples of the analysis of circumstances for the purpose of recognizing a provision in accounting

With changes and additions from:

Example 1. The organization has an approved program for the repair of fixed assets, which provides, in particular, the frequency of repairs and the planned costs for them. The legislation does not provide for the obligation of such repairs. Information about this program of the organization is published and available to a wide range of people.

There is no obligation to repair property, plant and equipment because the entity does not have an obligation arising from past events in its activities that it cannot avoid. An estimated liability for future expenses for the repair of the organization's property, plant and equipment is not recognized.

Example 2. The legislation provides for the mandatory repair of fixed assets in the industry in which the organization operates. For the operation of fixed assets without carrying out repairs, the legislation provides for fines. The organization has an approved program for the repair of fixed assets, which provides, in particular, the frequency of repairs and the planned costs for them. Information about this program of the organization is published and available to a wide range of people.

There is no obligation to repair property, plant and equipment because the entity does not have an obligation arising from past events in its activities that it cannot avoid. The estimated obligation for the forthcoming expenses for the repair of fixed assets of the organization is not accepted for accounting. However, an entity recognizes a provision for future penalties for non-repairs if all the provisions for a provision for such penalties are met.

Example 3. During the reporting period, the legislation on taxes and fees has undergone significant changes. The management of the organization considers it necessary to retrain the personnel responsible for calculating taxes. The organization has an approved retraining program, which provides, in particular, the planned costs for it.

There is no obligation to retrain staff because the organization does not have an obligation arising from past events in its activities that it cannot avoid. The estimated liability for the forthcoming retraining of personnel is not recognized in the accounting records.

Example 4. In accordance with the financial plan in the forthcoming reporting year, the organization is expected to have a loss in one of the areas of activity. The management of the organization believes that this loss is likely to occur.

An expected loss obligation does not arise because the entity does not have an obligation that has arisen as a result of past events in its activities that it cannot avoid fulfilling. An estimated loss estimate is not recognized.

Example 5. The organization entered into a contract for the supply of its products. In accordance with the terms of the agreement, the expected revenue is 1,000 thousand rubles. (without VAT). The organization estimates that due to the increase in raw material prices, the production costs of the products stipulated by the contract will amount to RUB 1,200 thousand. (without VAT). The contract has not yet begun execution. There are no sanctions for its termination.

The contract is not deliberately unprofitable, since the organization can terminate it without paying penalties. A related provisioning liability is not recognized under the contract.

Example 6. The organization entered into a contract for the supply of its products. In accordance with the terms of the agreement, the expected revenue is RUB 1,500 thousand. (without VAT). The organization estimates that due to the increase in raw material prices, the production costs of the products provided for in the contract will amount to RUB 2,000 thousand. (without VAT). The contract has not yet begun execution. The penalty for non-performance of the contract will amount to 600 thousand rubles.

The agreement is deliberately unprofitable, since the inevitable expenses for its implementation (2,000 thousand rubles) exceed the expected receipts under it (1,500 thousand rubles), and to withdraw from the agreement the organization will have to pay a significant amount (600 thousand rubles). The estimated liability is recognized in the accounting of the organization in the amount of a possible net loss upon performance of the contract of RUB 500 thousand. (2000 thousand rubles - 1500 thousand rubles), which is less than the amount of the penalty for non-performance of the contract (600 thousand rubles).

Example 7. The organization's management approved a detailed plan for the upcoming restructuring of the organization's activities, which provides, in particular:

structural divisions, functions and the approximate number of employees to whom compensation will be paid in connection with the severance of labor relations with them;

expenses required for the forthcoming restructuring of the organization's activities;

The organization's management did not announce the existing plan to employees.

There is no obligation to restructure the entity's activities ahead of time, because the entity does not have an obligation arising from past events in its activities that it cannot avoid. An estimated liability for the forthcoming restructuring of the entity is not recognized.

Example 8. The organization's management approved a detailed plan for the upcoming restructuring of the organization's activities, which provides, in particular:

the activities of the organization affected by the forthcoming restructuring and the place of its implementation;

structural divisions, functions and the approximate number of employees of the organization who will be paid compensation in connection with the severance of labor relations with them;

expenses required for the forthcoming restructuring of the organization's activities;

terms of implementation of the forthcoming restructuring of the organization's activities.

The management of the organization announced the existing plan to the workers and coordinates the plan with the workers' union.

Obligations for the forthcoming business restructuring exist because the organization has responsibilities arising from past events in its operations that it cannot avoid. A decrease in economic benefits as a result of the forthcoming restructuring of the organization is quite likely. Estimated liabilities for the forthcoming restructuring of the organization's activities are recognized if the amount of the liability can be reasonably estimated.

Appendix N 2
to the Accounting Regulations
"Estimated liabilities, contingent
liabilities and contingent assets "(PBU 8/2010),
approved by order of the Ministry of Finance of the Russian Federation of December 13, 2010 N 167n

Examples of determining the amount of a provision

Example 1. As of the reporting date, the entity is a party to the litigation. On the basis of an expert opinion, the organization estimates that it is more likely than not that the court decision will be made not in its favor; the amount of losses of the organization in this case will be either 1,000 thousand rubles, if the court decides to compensate only the plaintiff's direct losses, or 2,000 thousand rubles, if the court decides to compensate, in addition to direct losses, also the lost profits of the plaintiff. The probabilities of the first and second outcomes of the case are estimated by experts, respectively, as 95 and 5 percent.

Despite the fact that the most likely outcome of the trial is only to recover the plaintiff's direct losses, the organization takes into account another likely outcome of the case - compensation for lost profits.

1000 x 0.95 + 2000 x 0.05 = 1050 (thousand rubles).

The estimated term for the fulfillment of the estimated liability does not exceed 12 months. The estimated liability for litigation is recognized in the accounting records in the amount of RUB 1,050 thousand.

Example 2. As of the reporting date, the entity is a party to the litigation. Based on the expert opinion, the organization estimates that it is quite likely that the court decision will not be made in its favor, and the amount of losses of the organization will be from 1,000 to 4,000 thousand rubles.

The organization calculates the amount of the estimated liability:

(1000 + 4000) / 2 = 2500 (thousand rubles).

The estimated term for the fulfillment of the estimated liability does not exceed 12 months. The estimated liability for litigation is recognized in the accounting records in the amount of RUB 2,500 thousand.

Example 3. The entity sells goods with a warranty obligation for one year from the date of sale. For each individual product sold, the likelihood of a decrease in the economic benefits of the organization due to its return as poor quality and beyond repair or due to the cost of repairing it is assessed as low. At the same time, estimates based on the organization's past experience show that there is a high probability that approximately 2 percent of goods sold will be returned as defective and beyond repair, and another 10 percent will require additional repair costs. Based on these calculations, the organization evaluates the obligation for the issued warranty obligations arising from the sale of goods with the obligation of their warranty service, in relation to the entire set of goods.

The organization expects the additional cost of repairs to be 30 percent of the value of defective items. Based on this calculation, a monetary estimate of the value of the estimated liability is made in connection with the estimated costs of warranty services for the goods sold, which in this case will be 2 percent + 10 percent x 0.3 = 5 percent of the value of the goods sold.

The entity calculates the amount of the provision as at 31 December 20X0. The estimated amount of the liability to be settled is RUB 1,200 thousand. The maturity date of the obligation is 2 years after the reporting date. The discount rate adopted by the organization is 14 percent.

It is calculated as the product of the amount of the liability to be settled by the discount factor.

The discount factor is determined by the formula:

CD = 1 / (1 + SD) ^ N, where:

КД - discount factor;

SD - discount rate;

N is the period of discounting the estimated liability in years.

The discount factor is: KD = 1 / (1 + 0.14) ^ 2 = 0.76947.

The present value of the estimated liability, as well as the cost of increasing it (interest), are by years:

1200.00 thousand rubles x 0.76947 = 923.36 thousand rubles.

923.36 thousand rubles x 0.14 = 129.27 thousand rubles.

present value of a provision

923.36 thousand rubles + 129.27 thousand rubles. = 1052.63 thousand rubles.

expenses to increase the estimated liability (interest)

1,052.63 thousand rubles x 0.14 = 147.37 thousand rubles.

present value of a provision

1,052.63 thousand rubles + 147.37 thousand rubles. = 1200.00 thousand rubles.

Based on the calculation made in the accounting of the organization as of December 31, 20X0, the present value of the estimated liability is recorded in the amount of RUB 923.36 thousand. As of December 31, 20X1, the entity records an increase in the amount of the estimated liability on the debit of the other income and expense account and the credit of the reserve account for future expenses in the amount of RUB 129.27 thousand, and as of December 31, 20X2 - 147.37 thousand rubles.

In the annual financial statements for 20X0, the estimated liability is reflected in the amount of RUB 923 thousand, for 20X1 - RUB 1,053 thousand, for 20X2 - RUB 1,200 thousand.