In modern conditions, a small form of entrepreneurship is a very common and convenient option. Convenience is associated with a number of points, one of which is the ability to submit simplified financial statements (UBO). This option, in accordance with the law, is designed for small enterprises, non-profit companies, as well as for participants in the Skolkovo project.
In the framework of this article, we consider in more detail who submits simplified financial statements and when.
The concept
Light financial statements differ from ordinary statements mainly in its size. The structure of the usual statements includes, in addition to the balance sheet and the statement of financial results, the appendix: cash flow statements, changes in equity, as well as explanatory notes. For those who use lightweight accounting, all that is needed is two forms: balance sheet and a report on financial results.
Organizations that have received trust funds should also fill out a report form on their appointment. An organization that has the right to apply light reporting can provide reports in the usual forms, if this method is more convenient for it. In any case, those who are entitled to simplified accounting should establish accounting rules — either by the usual or simplified method that they will use.
The second difference between lightweight and simple reporting is in the reporting forms themselves. They have fewer lines to fill, and all characteristics are reflected in the increase in the group without specifying specific articles.
For those who submit lightweight financial statements, the accounting forms approved by the Ministry of Finance No. 66n of February 7, 2010 (as amended on April 4, 2015) are of great importance.
Who can serve?
Consider the question of who submits simplified financial statements.
Accounting and reporting for tax and statistical authorities are mandatory for all business entities in the Russian Federation. Financial statements are a combination of all forms and forms reflecting the performance of a company.
In the case of small businesses, preferential conditions are provided: they have the right to keep records in a lightweight system and submit lightweight forms to the Federal Tax Service:
- balance sheet;
- report on financial results;
- report on the targeted use of funds (for NPOs).
Other forms, in principle, may not be compiled if information from these reporting forms is not required to evaluate the business of a small company. This right is fixed in paragraph 6 of the Order of the Ministry of Finance dated 02.07.2010 No. 66n. The condition for relief should be indicated in the accounting policy of a small company; otherwise, the tax authorities may impose a fine for non-compliance with reporting forms.
The facilitated financial statements are submitted before 03/31 of the following year.
Who is renting out?
More specifically, we will study the composition of subjects who submit simplified financial statements.
The report on lightweight forms contains data from business entities that can simplify accounting. In paragraph 4 of Art. 6 of Law No. 402-ФЗ dated December 6, 2011, a list of such companies was compiled. Consider which enterprises can submit simplified financial statements:
- SME facilities;
- NPO;
- companies that participate in the Skolkovo project.
SMEs have the right to independently decide which reporting form to choose. In accordance with the selected option, reports are compiled.
However, there are exceptional situations in which firms do not have the right to use the lite option for reporting:
- companies subject to audit without fail;
- building and housing cooperatives;
- credit unions;
- organizations engaged in microfinancing loans, credits;
- municipal sector institutions and political parties (local branches and branches);
- colleges, chambers and law firms, lawyers;
- notaries;
- NGOs that are registered in the list of foreign agents.
In order to understand whether the LLC can submit simplified financial statements, it is necessary to conduct a company audit on both lists. In addition, it is necessary to check whether the tax authorities recognize the company as a small enterprise, using the following characteristics:
- the average number of workers is not required to exceed 100 people last year;
- profit from commercial work not more than 800 million rubles. in year;
- the residual value of fixed assets and assets is also not required to exceed 800 million rubles;
- the stake in the authorized capital belongs to the municipal sector of Russia (but less than 25%) or to foreign companies (less than 49%).
Composition
Possible forms in a lightweight system were approved in the Decree of the Ministry of Finance of the Russian Federation of February 7, 2010 N 66n (as amended on April 4, 2015). A business entity having the right to simplified accounting should report to the Federal Tax Service in three ways.
Formation Rules
To understand whether it is possible to submit simplified financial statements, consider the basic rules for its completion.
The Ministry of Finance published clarifications on facilitated reporting in the information No. ПЗ-3/2015. The main rules are as follows:
- presentation of information in the reporting form is allowed without specifying accounting items in detail;
- least information disclosure in relation to the full reporting size;
- the organization may not disclose information about the completion of its work.
Filling Basics
Filling takes place according to the results of the financial and economic activities of the company over the past period of time. Primary accounting documents that are issued during the year are applied.
The rules for filling the UBO are as follows:
- if the company is liquidated or reorganized, then the reporting forms are filled out not only according to the results of the year;
- upon liquidation of the company, reports are submitted no later than 3 months from the date of exclusion from the list of USRLE;
- indicates aggregated indicators for each row;
- codes for assets and liabilities are applied when compiling;
- main rule: coincidence of data on asset and liability;
- income and expenses are indicated objectively according to accounting;
- PBU rules apply for the company itself;
- the supporting document is the balance sheet.
UBO application criteria for legal entities
To understand who submits simplified financial statements, consider the main criteria.
There are the following parameters by which it can be argued that the company can facilitate its reporting:
- payroll not exceeding 250 people for the previous period;
- non-profit companies without a profit goal;
- companies participating in the Skolkovo project.
Simplification of reporting for IP
When studying the issue of who submits simplified financial statements, we found that these companies include, first of all, small forms. PIs are one such option.
The use of the balance sheet for IP is an optional element of activity. However, in some cases, accounting is conducted in the IP and reporting forms are prepared. In this situation, it is also possible relief options.
This type of reporting is one of the fundamental advantages of small business. It is comfortable to use it for IP.
A lightweight system is a good and usual method to reflect the performance of a company for a certain period, and specifically for a year.
An example of a lightweight balance is presented in the photo below.
As a result, the manager can find out about the state of the company at the end of the reporting year.
The simplified balance sheet form provides for 3 columns with data for the reporting year and two previous work periods. In this case, it is very convenient to compare the dynamics.
Change options
When considering the issue of who submits a simplified form of financial statements, it is important to study the possible options for its provision.
Possible delivery in two versions: paper and electronic.
When applying the electronic version, the company is also obliged to connect to the electronic document circulation system with the signature of an electronic digital signature.
Rules and deadlines
To understand who has the right to submit simplified financial statements, consider the basic rules for providing a lightweight reporting option. They are as follows:
- reporting on annual results;
- Report submission date: from January 1 to March 31, except in cases of liquidation or reorganization;
- can be compiled for the internal needs of the company, but the frequency of compilation is determined within the company itself.
Punishment for violation of established rules and untimely submission of report forms:
- the fine for the enterprise is 200 rubles (for the IFTS) and from 20 to 70 thousand rubles. (for statistical authorities);
- to the responsible person: from 300 to 500 rubles (for the Federal Tax Service) and from 10 to 20 thousand rubles. (for statorgan).
And what about USN?
When answering the question: “Who has the right to submit simplified financial statements?” The affirmative option would be companies that use the simplified tax system, which is a special regime, with which the company is exempt from paying a number of taxes. The application of the simplified tax system is possible only if the following criteria are met:
- less than 100 employees;
- annual yield of not more than 150 million rubles;
- residual value of fixed assets not more than 150 million rubles;
- no branches;
- the share of third-party companies is not more than 25%.
Companies on the simplified tax system submit simplified financial statements, which must be generated and submitted before 1.04 of the following year. The main feature of a simplified balance sheet for a simplist is the presentation of all financial data has been aggregated: in each line information of a whole group of articles can be reflected. Rounding is made up to thousands or millions of rubles.
Such a balance contains two sections: asset and liability. The asset also contains data on the property of the company. The passive reflects the main sources. The main condition: the equality of articles of the active and passive parts among themselves.
The formation of the document is carried out in an increasing way in comparison with previous years.
Does an NGO give in?
The important question is: “Can NPO submit simplified financial statements?”
NPOs differ from other business agents in that they do not aim to make a profit. When forming their charter documents, they must prescribe the types of activities that they plan to engage in.
NPOs, regardless of the form created, can also use STS.
Among the features of the application of STS for NPOs, the following can be distinguished:
- the application of the system is possible even in a situation where the share of another agent is above 25%;
- if the cost of OS objects is above 150 million rubles, then the application of the simplified tax system is still possible.
When applying the simplified tax system, NPOs have the right to submit reports in a lightweight form, as well as in the usual form. The decision is made individually. At the same time, the structure of light reporting includes:
- Balance: the main difference lies in the section "Capital and reserves", which is replaced by "Target financing". It reflects data on the amounts of sources of formation of assets.
- The report on the targeted use of funds shows the amounts that were used to carry out activities: remuneration, charity, targeted activities, etc.
- Report on financial results is not required for delivery.It can be replaced by a report on the use of funds when receiving a significant amount of income for the year.
- An explanatory note is possible if clarification is required on certain articles.
Conclusion
In the framework of this article, questions were examined regarding the one who submits simplified financial statements.
It should be noted that such a right is presented to a number of organizations of small and medium-sized businesses that meet certain established criteria. Small businesses submit simplified financial statements, as well as individual entrepreneurs, non-profit firms and Skolkovo participants.
