The amount of VAT paid to suppliers on inventory is expensed at the time the value of inventory is expensed.
Reflection of income and expenses The accounting policy of an NGO regarding the recognition of income in accounting is guided by the presence of the following conditions: A) the right to receive income arises from a specific contract or is confirmed in another appropriate way; B) the amount of income can be determined; C) there is no uncertainty in obtaining income; D) the ownership of the supplied asset has passed from the NCL to the buyer or the work has been accepted by the customer, the service has been rendered. The accounting policy of an NGO regarding the recognition of expenses in accounting is guided by the presence of the following conditions: A) the expense is made (arises) in accordance with a specific contract, the requirements of legislative or other regulatory acts, business practices; B) the amount can be determined; C) there is no uncertainty about the expense. The income and expenses of NPOs were recorded using the accrual method, which implies the recognition of income and expenses as the results of transactions and other events upon their commission and attribution to the financial result of the period to which they relate based on the economic content of transactions recognized in accounting (events). At the same time , recognition on the balance sheet of income and expenses was made NGOs, taking into account compliance with the principles of reasonableness and certainty [8]. Based on the data of the annual financial statements published on the website of the credit institution and the website of the Central Bank of Russia, the following results of calculating profit / (loss) are given Non-profit organizations before taxation (Table 4). Table 4 – Profit / loss before taxation of NCO "Premium" (LLC)
