• Accounting of exchange rate differences
  • Chosen methods of accounting for financial investments
  • Specifications of accounting for transaction under simple partnership agreement
  • Chosen methods of accounting for internal funds (capital
  • Chosen methods of accounting for liabilities (accounts payable
  • Accounting of expenditures for profit tax
  • Events occuring after the reporting date
  • Conventioanl facts of business activity
  • Information on affiliated persons
  • 7.5. Data on total sum of export, and on export share in the total amount of sales The issuer does not carry out export of products (goods, works, and services) abroad
  • Quarterly report "Interregional Distribution Grid Company of Centre", Joint-Stock Company




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    Deferred income and expenses




    1. Income of gratuitous receipt of assets, forthcoming receipts of debts on shortages revealed for the last years, differences between the amounts subject to collecting from guilty persons and balance cost on shortage values, the residuals of the means of target financing, which are not used within the accounting period (including from the budget) etc. are related to deferred income.

    2. Accounting of deferred income is performed with regard to the following articles:

    1. gratuitously received fixed assets;

    2. other gratuitously received material valuables;

    3. forthcoming receipts of debts on shortages revealed for past years;

    4. difference between the amount subject to collecting from guilty persons and balance cost on shortage of values;

    5. another deferred incomes.

    1. Deferred income on gratuitously received property are written off on the account of miscellaneous income proportionally to the cost of gratuitously received property recognized as the expense: on fixed assets - proportionally to accrued depreciations, on current assets – lump sum, at the moment of writing-off on expenses of cost of materials or writing-offs on the account of the accounting of sales of goods cost.

    2. In case of write-off of items of fixed assets from balance on any grounds till the term of their complete depreciation, the unwritten-off part of income of future periods is recognized by the Company as miscellaneous expenses at the moment of write-off of items of fixed assets.

    3. On gratuitously received items of fixed assets, on which depreciation is not accrued according to the established procedure, their cost is not recognized to be income of future periods. For such items at the moment of their acceptance to accounting, the records under the account of the accounting of investments in non-current assets ("Investments in non-current assets") are reflected, and miscellaneous income is recognized.

    4. In case of gratuitous receipt of items of incomplete construction, write-off of income of future periods on accounts of miscellaneous income starts only simultaneously with depreciation of the specified items, that is after their construction, putting into operation and acceptance to the accounting as the fixed assets. If these items are not completed, income of future periods will be recognized as miscellaneous income at the moment of write-off of items of incomplete construction from balance on any grounds.

    5. The Company recognizes expenses relating to future periods and distributes these expenses between the subsequent periods in case, when the amount of expenses is essential and expenses cause reception of income within several accounting periods or when relation between income and expenses cannot be determined precisely or defined indirectly.

    6. Expenses effected by the organization within the reporting period but related to the following reporting periods are recorded in the accounting balance sheet in separate article as deferred income and subject to write-off uniformly within the year they are related to. General rule of relation of amounts of deferred expenses – uniformly, proportionally to a number of calendar days of validity of license, license contract, insurance contract, insurance policy.

    7. The Company recognizes expenses which write-off term exceeds 12 calendar months to be long-term expenses. Short-term expense are deferred expenses which are written-off within the term not exceeding 12 calendar months.

    8. The Company recognizes the effected payments and (or) transfer of other property as expenses of future periods, if these payments and (or) transfer of property are effected in accordance with the unconditional procedure.

    9. If transferred monetary funds and (or) other property can be returned to the Company under condition of refusal of use of works, services paid by specified monetary and non-monetary means, so accounts receivable is recognized in the accounting instead of expenses of future periods. If in this case it is supposed, that the amount of returned monetary and non-monetary funds can be reduced according to conditions of the contract, the amount of the difference between the paid (transferred) and returned funds is considered by the Company as sanctions for refusal of execution of the contract - the account "Miscellaneous income and expenses".

    10. If transfer of monetary funds and (or) other property is carried out in accordance with the unconditional procedure, but the Company refused from use of works, services paid by the specified monetary and non-monetary funds, or it is assured that the given works, services will not be use by other reasons, the expenses of future periods recognized earlier are recognized in full as suffered losses at the moment of decision-making relating to non-use of works, services - the account "Miscellaneous income and expenses".

    11. At approach of the period, when the suffered expenses brought incomes corresponding to them, expenses of future periods are recognized as current.

    12. Expenses of future periods are written off on the account of the current expenses proportionally to expired time period. In this case programs, licenses, certificates, insurance payments, wages for vocation related to the future reporting period and the relevant amount of insurance fees and other similar payment are recognized to be deferred expenses.

    13. The periodic payments effected according to conditions of contracts and connected with use of licenses and programs are included in the structure of current expenses (at effecting of monthly payments) or stand apart as independent item of the accounting of expenses of future periods (at effecting of payments for the period of more than a month - quarter, year etc.).

    14. Insurance expenses are accounted as follows:

    if conditions of insurance contract provide payment of insurance fee by one-time payment or by installments, so under contracts concluded for more than one reporting period expenses are recorded uniformly within the validity of the contract proportionally to a number of calendar days of validity of the contract within the reporting period (year). To fulfill this condition under contracts which have not been not paid yet (in installments), accounts payable is reflected proportionally to a number of calendar days of validity of the contract within the reporting month.

    1. Deferred expenses which write-off term is not fixed in the documents foe their acquisition, period of their write-off is determined by a commission on acceptance of an item to accounting (expertly) and approved by the Director. Exclusions are expenses for acquisition of right to software use: if the contract for acquisition of non-exclusive rights does not fix the term of software use, the contract is considered to be concluded for five years (par. 2 p. 4 art. 1235 RF CC).



        • Accounting of exchange rate differences




    1. Exchange rate difference is a difference between a ruble estimation of an asset or liability, the cost of which is expressed in foreign exchange, for the date of fulfillment of obligations on payment or accounting date of the given accounting period, and a ruble estimation of the same asset or liability for the date of its acceptance to accounting in the accounting period or accounting date of the previous accounting period.

    2. Exchange rate difference arises in case of:

    1. full or partial redemption of accounts receivable or accounts payable expressed in foreign exchange, if for the date of fulfillment of obligations on payment the rate differed from its rate for the date of acceptance of these accounts receivable or accounts payable to the account in the accounting period or from the rate for the accounting date of drawing up of the reporting for the accounting period, within which these accounts receivable or accounts payable were recalculated for the last time;

    2. recalculation of cost of assets and liabilities in foreign exchange:

    • bank notes in cash department of the Company;

    • money on accounts of credit organizations;

    • monetary and payment documents;

    • short-term foreign exchange securities (cost of long-term foreign exchange securities is not re-estimated);

    • means in settlements (including settlements under loan obligations) with legal entities and individuals (including dependent entities and individuals);

    • residuals of means of target financing received from the budget or foreign sources within the frameworks of technical or other assistance rendered to the Russian Federation according to the concluded agreements (contracts).

    1. Recalculation of cost of an asset or liability expressed in foreign exchange is exchanged in rubles at the official rate of this foreign exchange to the ruble established by the Central bank of the Russian Federation.

    2. If for recalculation of the cost of an asset or liability expressed in a foreign exchange, which is subject to payment in rubles, law or agreement of the parties establish another order, in this case other recalculation is made at such rate.

    3. For the purposes of accounting the specified recalculation in rubles is made at the rate existing for the date of fulfillment of transaction in foreign exchange. Dates of fulfillment of separate transactions in foreign exchange for the purposes of accounting are given in the table.




    Transactions in foreign exchange

    Date of fulfillment of transaction in foreign exchange is

    Transactions on bank accounts (bank deposits) in foreign exchange

    Date of receipt of monetary funds on the bank account (bank deposit) of organizations in foreign exchange or their write-off from the bank account (bank deposit) of the Company in foreign exchange

    Cash transactions with foreign exchange

    Date of receipt of foreign exchange, monetary documents in foreign exchange in cash department of the organization or their issue from cash department of the Company

    Income of organization in foreign exchange

    Date of recognition of income of organization in foreign exchange


    Expenses of organization in foreign exchange

    including:

    Import of inventories

    Import of service

    Expenses connected with business and service trips outside the territory of the Russian Federation

    Date of recognition of expenses for purchase of inventories

    Date of recognition of expenses for service

    Date of approval of the advance report



    Investments of organization in foreign exchange in the non-current assets (fixed assets, intangible assets etc.)


    Date of recognition of expenses forming cost of non-current assets




    1. Recalculation of cost of bank notes in cash department of the organization, money on bank accounts (bank deposits), monetary and payment documents, short-term securities, means in settlement (including on loan obligations) with legal entities and individuals, residuals of means of the target financing received from the budget or foreign sources within the frameworks of technical or another assistance to the Russian Federation under the concluded agreements (contracts) expressed in foreign exchange, into rubles should be made at the date of fulfillment of a transaction in foreign exchange as well as at the accounting date. For drawing up of the accounting reports recalculation of the cost of the transferred assets and liabilities in rubles is made at the rate existing for the accounting date.

    2. Cost of investments in non-current assets (fixed assets, intangible assets etc.), inventories and other assets is accepted in estimate in rubles at the rate existing for the date of fulfillment of the transaction in foreign exchange as a result of which these assets are accepted to accounting. Recalculation of cost of the transferred assets after their acceptance to accounting in connection with change of the rate is not carried out.

    3. Exchange rate difference is reflected in accounting and accounting statements in that accounting period, to which the date of fulfillment of obligations on payment is related to, or for which the accounting statements were drawn up.

    4. Exchange rate difference is subject to booking to financial results of the Company as miscellaneous income or miscellaneous expenses.

    5. Exchange rate difference connected with settlements with founders under contributions, including to the authorized (share) capital of the organization is subject to booking to the additional capital of the Company.




      • Accounting of reserves




    1. Reserves for payment of vacations, payment of remuneration following the results of works within a year and annual seniority benefits payments, future expenses on repairs, under depreciation of securities are not formed by the Company.




      • Chosen methods of accounting for financial investments




    1. The assets, which are do not have tangible physical form and capable to bring economic gains (income) in the future in the form of interests, dividends or increase of their value (in the form of difference between sale (redemption) and purchase price) as a result of their exchange, use at redemption of obligations, increase in current market cost are recognized to be financial investments of the Company.

    2. The financial investments of the Company include:

    1. securities (state, municipal, securities of other organizations, including bonds and bills);

    2. contributions in the authorized (share) capitals of other organizations (including subsidiaries and dependent business companies);

    3. contributions under simple partnership agreements (joint activity);

    4. loans granted to another organizations;

    5. deposits in credit organizations;

    6. accounts receivable acquired on the basis of cession of the right of demand, except for accounts receivable acquired under the contracts for accounts receivable acquired on the basis of cession of the right of demand as mean of payments which are not intended to economic profit(imcome) etc.

    1. The bills issued by buyers of the goods, works or services of the Company, which were received from the drawer of the Company at settlements for this goods, works or services, are not recognized as financial investments and are reflected in the accounting and reports as accounts receivable of buyers and customers secured by bills received.

    2. Financial investments are divided by the Company into individually determinable and undeterminable. Investments, the unit of which has own individual distinctive attributes: Series and number of securities, details of the organization, in the authorized capital of which the Company makes investments, details of simple partnership agreements, loan, deposits, acquisition of the rights of demand etc. are recognized to be individually determinable investments. Investments, the unit of which has not own individual, but fungible distinctive attributes - details of the issue of uncertificated shares etc. are recognized to be individually undeterminable investments.

    3. Accounting unit of financial investments is:

    1. for individually determinable financial investments - separate investment (securities, contribution to the authorized capital of the separate organization, the separate simple partnership agreements, loan or deposit issued by the separate contract, rights of demand acquired under the individual contract etc.);

    2. for individually undeterminable financial investments - a block of securities. A block of securities is a set of securities of one issue (that is of one issuer, one type, term of the circulation, par value etc.) acquired by the Company as a result of one transaction.

    1. The analytical account of financial investments is conducted in relation of short-term and long-term financial investments. The investments made with intention to receive income on them during more than one year are related to long-term financial investments. Other financial investments are short-term.

    2. In the accounting statements financial investments should be represented with the division into the short-term and long-term depending on the term of circulation (repayment).

    3. Actual expenses for acquisition of financial investments are:

    1. amounts paid to the seller according to the contract;

    2. amounts paid to the organizations and other persons for the information and consulting services connected with acquisition of the specified assets.

    3. remunerations paid to the intermediary organization or another person, through which assets are acquired as financial investments;

    4. other expenses directly connected with acquisition of assets as financial investments.

    1. The expenses connected with implementation of financial investments by the Company:

    1. are included in their cost, if they are made before or during the moment of accounting;

    2. are written off to the structure of miscellaneous expenses, if they are made after the moment of accounting.

    1. For the purposes of the subsequent estimation financial investments are divided into two groups:

    1. financial investments, under which it is possible to determine the current market value;

    2. financial investments, under which their current market value is undeterminable.

    1. Financial investments in the securities circulating in the share market (stock exchange, auction), quotations of which are published on a regular basis, are related to financial investments, under which it is possible to determine current market value. All the others are related to financial investments, under which current market value is undeterminable.

    2. Financial investments, under which it is possible to determine the current market value in accordance with the established procedure, are reflected in the accounting statements as of the end of the accounting year at the current market value by means of updating their estimation for the previous accounting date. The Company makes the specified updating quarterly.

    3. The difference between estimation of financial investments at the current market value for the accounting date and previous estimation of financial investments is recognized by the Company as miscellaneous income or expenses. Thus, the gain of market value of investments is reflected under the debit of the account "Financial investments" and credit of the account "Miscellaneous income or expenses", decrease - on debit of the account "Miscellaneous income or expenses" and the credit of the account "Financial investments".

    4. In case the current market value is not determinable on the item of financial investments estimated earlier at current market value at the accounting date, such item of financial investments is reflected in the accounting statements at the value of its last estimation.

    5. Financial investments, under which the current market value is not determinable, are reflected in the accounting statements at the initial value.

    6. The initial value of financial investments acqired for payment is the amount of actual expenses of the organization for their acquisition, excluding VAT and other indemnifiable taxes (except for cases provided by the Law on taxes and duties of the Russian Federation). General business and other similar expenses are not included in actual expenses for acquisition of financial investments, if they are not directly connected with acquisition of financial investments.

    7. At retirement of assets accepted to the accounting as financial investments, under which the current market value is determinable, their value is determined by the Company basing on the last estimation.

    8. At retirement of financial investments, under which the current market value is undeterminable, their value is determined as follows:

    1. investments to authorized capitals of other organizations (except for actions of joint-stock companies), loans granted to other organizations, deposits to the credit organizations, accounts receivable acquired on the basis of cession of the right of demand, are estimated at the initial value of each retired financial investments provided;

    2. securities (shares and bonds) are estimated at retirement at the average initial value, which is determined under each type of securities;

    3. purchased bills are estimated at retirement (payment for performed works, (goods, works, services)) under the prime cost of a unit;

    4. other financial investments - under the initial prime cost of each retired unit.

    1. Income on financial investments is recognized by the Company as miscellaneous income.

    2. Expenses connected with granting to other organizations of loans, with servicing of financial investments of the Company, payment of services of bank and/or depositary for storage of financial investments, granting of an extract from the account of depot etc.) are recognized as miscellaneous expenses.




      • Specifications of accounting for transaction under simple partnership agreement




    1. Under simple partnership agreement (the contract of joint activity), two or several persons (partners) undertake to join their contributions and operate together without formation of legal entity for deriving profit or achievement of another purpose, which does not contradict the law.

    2. The contribution to simple partnership is recognized in the accounting as financial investments. The property brought as the contribution under the contract of joint activity (simple partnership agreement) is included by an organization-partner in financial investments at the balance cost of as of the date of the contract coming into effectу.

    3. Acknowledgement of the fact of reception of the property contribution for an organization-partner is the notification (letter of advice) about acceptance to accounting of property by a partner holding general business, or the primary accounting document of reception of property (acceptance and transfer certificate, consignment notes, payment documents etc.).

    4. When forming financial result, each organization-partner includes its share of profit or losses subject to reception as a result of joint activity in miscellaneous income or expenses.

    5. The property subject to reception by each organization-partner following the results of partition, according to the Art. 1050 of the Civil Code of the Russian Federation, at termination of joint activity is reflected as redemption of the contributions accounted in the structure of the financial investments. In case of difference between the contribution cost estimate accounted in the structure of financial investments and cost of the assets received after termination of joint activity, it is included in miscellaneous income or expenses at formation of financial result. The assets received by an organization-partner after termination of joint activity are accepted to accounting at the estimate, which is registered in separate balance sheet for the date of decision relating to termination of joint activity.




      • Chosen methods of accounting for internal funds (capital)




    1. Own capital of the Company includes:

    1. authorized capital;

    2. reserve capital;

    3. additional capital;

    4. net (undistributed) profit;

    5. other reserves.

    1. The Company does not reduce the amount of the authorized capital reflected in its reports, by the amount of unpaid capital: authorized capital and actual debts of founders under contributions to the authorized capital are reflected in the accounting statements separately.

    2. All changes of the amount of the authorized capital (including designation of funds of the additional capital to increase of the authorized capital) are reflected in the accounting statements of the Company only after respective alterations in its constituent documents.

    3. The reserve capital is formed by the Company of its profit on the basis of constituent documents and resolution of founders (shareholders) of the Company. The reserve capital is intended for covering of possible losses as well as for the redemption of shares of the Company, if there are no other funds.

    4. The additional capital of the Company consists of increase in value of its property from its reassessment and from the issue income.

    5. The expenditure of the additional capital is carried out separately. The amounts of increase in value of property from reassessment are used for write-down of those items of property, which earlier were exposed to final appraisal, and only within the amounts accumulated on each separate inventory item. The issue income is used by the decision of shareholders meeting (upon termination of a year) as a source of covering of probable losses from activity of the Company.

    6. The undistributed profit is spent by the Company for the following purposes:

    1. write-down of non-current assets of the Company over the amounts of the additional capital (accumulated on the given inventory item of final appraisal);

    2. the purposes defined by founders (shareholders) of the Company including payment of dividends, financial maintenance of production development and other similar actions on acquisition (formation) of new property etc.




      • Chosen methods of accounting for liabilities (accounts payable)




    1. The Company recognizes debts, which are consequence of the certain actions or inactivity in relation to another person (creditor) and connected with the demand to transfer monetary funds, property, to perform works or services, to make other actions in favor of this person (creditor) arising by virtue of the contract, the law or another rule of law as well as customs of business practice, to be liabilities.

    2. Liabilities of the Company are divided into:

    1. debts to suppliers of the goods, works, services;

    2. debts to the budgetary and non-budgetary funds;

    3. debts to employees on wages;

    4. debts to buyers on the received advance payments;

    5. debts on the received borrowed funds (credits and loans);

    6. other debts.

    1. The accounts payable to suppliers of the goods, works, services are accounted in the amount of the accounts accepted for payment and amount of the accrued liabilities according to settlement documents.

    2. The accounts payable on unbilled deliveries is accounted in the amount of the received values determined basing on the price and conditions provided in contracts.

    3. As a separate kind of the liabilities accounted on independent accounts, the Company recognizes debts on the received borrowed funds (on loans and credits).

    4. The debts on credits and loans are divided into:

    1. long-term and short-term:

    • short-term debts are debts on the received loans and credits, the term of redemption of which according to contract conditions does not exceed 12 months;

    • long-term debts are debts on the received loans and credits, the term of redemption of which according to the contract conditions exceeds 12 month;

    1. due and overdue:

    • due debts are debts on the received loans and credits, the term of redemption of which under contract conditions has not come or is extended (prolonged) in accordance with the established procedure;

    • overdue debts are debts on the received loans and credits with expired term according to contract conditions for redemption.

    1. In case of conclusion of additional agreements to the contract, the short-term debt is transferred into the long-term one.

    2. The Company accounts borrowed funds being at its disposal, the term of redemption of which under the contract of loan or credit exceeds 12 months, till expiration of the specified term as being in the structure of long-term debts.

    3. The debts on the received loans and credits are estimated in view of due payment of interest according to the terms of the contracts as of the end of the accounting period.

    4. Expenses connected with reception and use of loans and credits (interest on the received loans and credits, interest, discount under bills and bonds, additional expenses under loans and credits as well as rate and sum differences concerning the interest due for payment under loans and credits), are recognized as miscellaneous expenses of the Company of the corresponding accounting period. Exception is expenses under loans and credits, which are subject to inclusion in cost of investment assets or in cost of other property.

    5. Expenses under loans and credits involved for acquisition of items of fixed assets and intangible assets, which cannot be recognized as investment assets, are reflected in the structure of miscellaneous expenses of the Company in accordance with the general procedure.

    6. The additional expenses of the Company effected in connection with reception of loans and credits, issue and allocation of borrowed liabilities, include the following types of expenses connected with:

    1. rendering of legal and consulting services (including audit on demand of the creditor) to the borrower;

    2. performance of multiple copying works;

    3. carrying out examinations;

    4. consumption of services of communication;

    5. other expenses directly connected with reception of loans and credits.

    1. In case the additional expenses in structure of the expenses connected with reception and use of loans and credits, are not related to increase in cost of the investment asset, the Company includes these additional expenses in the structure of miscellaneous expenses in that accounting period, within which they were effected (without its preliminary accounting as accounts receivable and uniform write-off to the miscellaneous expenses within the term of redemption of borrowed liabilities).

    2. At attraction of borrowed funds by means of issue by the Company of own bill the accounts payable are formed as follows:

    1. at attraction of borrowed funds by means of issue of own interest bill providing accruing of interest, in the amount of actually received funds, which is equal to the bill amount. The interests accrued subsequently increase accounts payable till the moment of their payment to the creditor;

    2. at attraction of the interest-free loan by means of issue of own bill - in the amount of actually received funds, which is equal to the bill amount. Within the whole term of the loan the amount of accounts payable does not change;

    3. at attraction of borrowed funds by means of issue of own discount bill - in the amount of actually received funds and discount (the income subject to reception by the creditor at redemption of the bill by the borrower) it is equal to the bill amount. Within the term of the loan, the amount of accounts payable in this case also does not change (all incomes due to the borrower initially generated the amount of accounts payable). At issue of the bill for reception of the loan by means of monetary funds, the amount due to the holder for payment of interests or discount is included in miscellaneous expenses. These miscellaneous expenses are recognized by the Company at the moment of their accruing. The amount of interests due to payment is accrued for the expired month on the last working day of each month.

    1. Operational expenses on discounts and interests under bills are recognized by the Company at the moment of their accrual. The Company does not consider these expenses as expenses of future periods, the amount of discount due to payment is included in miscellaneous expenses at the moment of transfer of the bill to the payee (the first holder); the amount of interests due to payment is accrued for the expired month on the last working day of each month.



      • Accounting of expenditures for profit tax




    1. Formation in accounting and procedure of disclosure of information on calculations under profit tax in the accounting statements is established according to RAS 18//02 "Accounting of expenditures for profit tax".

    2. Difference between the accounting profit (loss) and taxable profit (loss) of the accounting period, which was formed as a result of application of various rules of recognition of income and expenses established in regulatory legal acts on accounting and the law of the Russian Federation on taxes and duties, consists of constant and temporary differences.

    3. Constant difference (CD) - income and expenses forming accounting profit (loss) of the accounting period and excluded from the calculation of tax base either of the accounting, so subsequent period. CD leads to formation of the constant tax liability (CTL), which is determined as product of the constant difference arisen in the accounting period, for the rate of profit tax.

    4. For the purposes of formation of accounting and tax profit, the following constant differences are accepted:

    1. expenses for payment effected over the expenses regulated by the Art. 255 of the Tax Code of the Russian Federation, and the expenses, which are not accounted with a view of the taxation according to the Art. 270 of the Tax Code of the Russian Federation;

    2. expenses for the voluntary insurance effected over the expenses regulated by the Art. 255 and the Art. 263 of the Tax Code of the Russian Federation;

    3. expenses for non-state pension provision effected over the expenses regulated by the Art. 255 of the Tax Code of the Russian Federation;

    4. interests under the promissory notes paid over the interests recognized for the purposes of taxation of the interests (the Art. 269 of the Tax Code of the Russian Federation).

    5. expenses connected with gratuitous transfer of property (goods, works, services) in the amount of the cost of property and expenses connected with their transfer (par. 16. of the Art. 270 of the Tax Code of the Russian Federation);

    6. representative expenses effected over the expenses regulated by the Art. 264 of the Tax Code of the Russian Federation;

    7. expenses for advertising effected over the expenses regulated by the Art. 264 of the Tax Code of the Russian Federation. Application of the different procedure of recognition of the income of the gratuitously received property for the purposes of accounting and purposes of taxation (par. 4 of the subparagraph 1 of the Art. 271 of the Tax Code of the Russian Federation);

    8. profit (loss) connected with the difference between estimated cost of property at its entering in the authorized capital of another organization and the cost, at which this property is reflected in the accounting balance sheet by the transferring party (par. 1 of the Art. 277 of the Tax Code of the Russian Federation);

    9. income in the form of the amounts of accounts payable to budgets of the different levels written off or reduced according to the law of the Russian Federation (par. 1 of the subparagraph 21 of the Art. 251 of the Tax Code of the Russian Federation);

    10. miscellaneous expenses connected with production and sale, and other non-sale expanses made over the norms regulated by chapter 25 of the Tax Code of the Russian Federation.

    1. The information for reflection in accounting of constant differences is formed on the grounds of primary documents and registers of the tax accounting.

    2. Temporary difference (TD) - income and expenses forming the accounting profit (loss) in one accounting period; tax base under the profit tax - in another (other) tax period(s).

    3. Depending on the nature of influence on taxable profit time differences are divided into:

    1. deductible temporary difference (DTD);

    2. taxable temporary difference (TTD.

    1. Deductible temporary difference (DTD) results in formation of the deferred profit tax (deferred tax asset - DTA), which should reduce the amount of profit tax subject to payment in the budget in the following accounting periods.

    2. For the purposes of formation of accounting and tax profit, the following deductible temporary difference is accepted:

    1. in case of sale of item of fixed assets application of different rules of recognition for the purposes of accounting and purposes of taxation of the residual cost of items of fixed assets (par.3. of the Art. 268 of the Tax Code of the Russian Federation);

    2. excessive paid profit tax, the amount of which is not returned, but is accepted to offset at formation of taxable profit in the period following the accounting or subsequent accounting periods;

    3. loss transferred to the future, which is not used for reduction of profit tax in the accounting period, but which will be accepted with a view of the taxation in the subsequent accounting periods;

    4. other similar differences.

    1. The information for reflection in accounting of deductible temporary difference is formed on the basis of primary documents and registers of the tax account.

    2. Taxable temporary difference (TTD) results in formation of the deferred profit tax (deferred tax obligation - DTO), which should increase the amount of profit tax subject to payment to the budget in the following accounting periods.

    3. For the purposes of formation of accounting and tax profit, the following deductible temporary difference is accepted:

    1. difference, which was developed at formation of cost of fixed assets for the purposes of the accounting and tax account (sum differences, registration of property and miscellaneous expenses, which were not accounted at formation of cost of depreciated property for the purposes of the taxation);

    2. application of different procedure of recognition of expenses in the accounting and tax account on overalls, which useful life exceeds 12 months according to the norms of issue.

    1. The information for reflection in accounting of deductible temporary difference is formed on the basis of primary documents and registers of the tax account.

    2. Amount of the current profit tax is determined by the Company basing on data formed in the accouting report,

    3. Amount of profit tax determined basing on accouting profit (loss) and reflected in accouting report irrespective the amount of taxable profit (loss) is conventional expense (conventional income) on profit tax.

    4. Conventional expense (conventional income) on profit tax is equal to the amount determinable as miltiplication of accounting profit formed within the reporting period by profit tax rate determined by the Law on taxes and duties of the Russian Federation and existing for the reporting date.

    5. Conventional expense (conventional income) on profit tax is recorded in the accounting report on a separate sub-account on accounting of conventional expenses (conventional income) on profit tax to the account on profir and loss recording.

    6. Profit tax for taxation purposes determinable basing on the amount of conventional expense (conventional income), which was adjusted by the amount of permanent tax liability (asset), increased or reduction of deferred tax asset and deferred tax liability of the reporting period is considered to be the current profit tax.

    7. If there are no permanent differenced, deductible temporary differences and taxable temporary differences resilting in permanent tax liabilities (assets), deferred tax assets and deferred tax liabilities, conventional expense on profit tax is equal to the current profit tax.

    8. At this the amount of the current profit tax should comly with the amount of calculated profit tax recorded in tax return on profit tax;

    9. The amount of extra-pay (overpay) of profit tax connected with errors (distortions) revealed in the previous reporting (tax) periods, but which does not influence on the current profit tax of the reporting period, is reflected as a separate item of the Profit and Loss Statement (next to the current profit tax).




      • Segment information

    The Company does not disclose segment information in the annual accounting reporting.




      • Events occuring after the reporting date




    1. Event occurring after the reporting date is the fact of business activities, which influences or can influence on the financial situation, movement of monetary funds or results of activity of the organization, and which took place in the period between the accounting date and date of signing the accounting statements for the reporting year.

    2. Event occurring after the reporting date is announcement of annual dividends following the results of activity of the Company for the reporting year.

    3. Event occurring after the reporting date are:

      1. the events confirming economic conditions existing as of the reporting date in which the organization conducted the activity

    • in accordance with the established procedure the announcement of a debtor of the organization bankrupt, if the procedure of bankruptcy has been already executed concerning this debtor as of the reporting date;

    • estimation of assets performed after the reporting date, the results of which prove steady and essential decrease in their cost determined as of the reporting date;

    • announcement of dividends by subsidiaries and dependent companies for the periods preceding the reporting date;

    • revelation of an essential error in accounting after the reporting date or infringement of the law at carrying out of activity of the organization, which result in distortion of the accounting statements for the reporting period.

      1. the events testifying to economic conditions occurring after the reporting date in which the organization conducts the activity:

    • decision-making relating to reorganization of the organization;

    • acquisition of the enterprise as property complex;

    • reconstruction or planned reconstruction;

    • decision-making relating to issue of shares and other securities;

    • fire, accident, natural disaster or another extreme situation resulted in destruction of the significant part of assets of the organization;

    • termination of essential part of primary activity of the organization, if it could not be expected as of the accounting date;

    1. Event occurring after the accounting date is recognized to be essential, if without knowledge of it, users of the accounting reporting cannot authentically judge about the financial situation, cash flow or results of activity of the Company.

    2. Importance of the event occurring after the accounting date, the organization determines independently basing on the requirements of provisions of regulatory acts on accounting.

    3. At drawing up of the accounting reporting the Company estimates consequences of the event occurring after the accounting date in money terms. For estimation of consequences of the event occurring after the accounting date in money terms, the Company makes the corresponding calculation and provides acknowledgement of such calculation.

    4. Event occurring after the accounting date testifying the economic conditions, which arose after the accounting date, under which the organization conducts the activity, is disclosed in explanatory to the accounting balance sheet and profits and losses statement. Thus, no records in accounting (synthetic and analytical) are made within the reporting period.

    5. Annual dividends recommended or declared in accordance with the established procedure following the results of work of the organization for the reporting year are reflected in accounting in the same order.

    6. The information disclosed in explanatory to the accounting balance sheet and profit statement should include brief description of the event occurring after the accounting date and estimation of its consequences in money terms. If there is no opportunity to estimate the consequence of event occurring after the accounting date in money terms, the Company should specify this.




      • Conventioanl facts of business activity




    1. The accounting reporting of the Company reflects conditional facts of business activities relating to which the consequences and probability of their occurrence in the future are uncertain.

    2. Conventional facts include:

    1. judicial proceedings which are not completed for the reporting date;

    2. disagreements with tax authorities related to payment to the budget, which are not completed for reporting date;

    3. guarantees and other kinds of securing of obligations given out in favor of the third parties, terms of fulfillment on which have not come;

    4. discounted bills, the term of redemption of which has not come;

    5. other similar facts.

    1. The conventional obligation and conventional loss arising due to the conventional fact are reflected in the synthetic and analytical accounting as final turnovers of the reporting period until approval of the annual accounting report.

    2. Loss (profit) is calculated according to the recommendations stated in RAS 8/98.

    3. Calculation is drawn up by the service, to which conventional fact of economic activities relates according to the exercised functions.




      • Information on affiliated persons

    According to RAS 11/2008, the Company includes the information on affiliated persons in the form of separate section in the explanatory note, which is a part of the accounting reporting. Thus, the specified data is not applied at formation of the reporting for the internal purposes as well as the statements drawn up for the state statistical supervision and credit organization, or other special purposes.

    7.5. Data on total sum of export, and on export share in the total amount of sales

    The issuer does not carry out export of products (goods, works, and services) abroad

    7.6. Data on cost of real estate of the issuer and the essential changes which occurred in the




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    Quarterly report "Interregional Distribution Grid Company of Centre", Joint-Stock Company

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