Cost accounting can be carried out by FE on an accrual basis as set out in the policy of registered - 5 October 2011

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16:02 Cost accounting can be carried out by FE on an accrual basis as set out in the policy of registered
Accounting for costs of FE at the time explained the Finance Ministry in its letter № 06-04-05/8-558 on August 10, 2011. It provides a standard that is still considered valid. Entrepreneurs have the right to take into account costs only a cash basis. Therefore, taking into account the costs of IP could reduce the tax base only paid expenses. This is stated in Article 223 of the Tax Code, clarifies agency. In charge base should include only those revenues from entrepreneurial activities, which actually came to the PI. On this basis, a similar method, according to officials, should be applied with regards to the expenditure of the taxpayer. However, the Supreme Arbitration Court at the time said that when the cost of FE in the current tax law does not provide restrictions in choosing a method of cost. Therefore, employers have the right to use the same procedure that applies the payers of income tax. This is stated in Article 221 of the Tax Code. To account for the costs of IP has the right to use the accrual method, securing it in its accounting policies. After that, the tax base will shrink and the unpaid portion of the expenditure. On income you did not give any explanation. On the basis of Article 223 of the Tax Code income is recognized only paid the sum of the individual entrepreneur.
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