Account 77 "Deferred tax liabilities"they use a legal entity that makes deductions from profit. This accounting article has a number of features. Let us consider in more detail Account 77. The article will also provide examples of transaction postings.
Profit margin difference
When conducting tax reporting and accounting, the moment of receipt of income does not always coincide. Due to the fact that the legislation provides special rules for summarizing information on accounting profit, the results at the end of the year differ significantly from the declared indicators. This situation arises, for example, with different methods of calculating depreciation. The accelerated calculation of the amounts used in tax accounting is not acceptable for financial statements. The arising costs in calculating the base will be higher than the costs of accounting.
What is IT?
If expenses for accounting arise later and to a greater extent than for tax reporting, and incomes are determined earlier, the organization creates conditions for the appearance of deferred liabilities. There are several factors that contribute to this situation. Among the main ones it is necessary to highlight the following circumstances:
- Use by the organization of the cash method in the process of making accruals in the framework of tax accounting. He assumes that the company receives the proceeds from the shipment of products until the receipt of real funds from the counterparty.
- Differences in calculating depreciation on property.
Due to temporary differences, the amount of deduction from profit will subsequently increase. To calculate the deferred liability, the formula is used:
IT = taxable temporary difference x current bid.
Accounting
Score 77 are required to use entities classified as medium-sized businesses. The rules for summarizing information on arising differences in determining profit are enshrined in PBU 18/02. It establishes the specific costs of the amounts received by the enterprise. In particular, PBU:
- Divides the differences into temporary and permanent. The latter include factors of income or expenses in one of the accounts. They cause the emergence of continuing obligations. Temporary differences occur for different periods and methods of determining revenues and costs in accounting. Deferred liabilities are associated with them.
- The deduction from profit is reflected in subsequent periods. The resulting conditional income or expense in accounting is adjusted by the value of IT and multiplied by the rate. The amount received as a result is reflected in the declaration.
Exceptions
Some businesses may not run score 77 in accounting. These include organizations using the simplified taxation mode. These companies include small businesses, non-profit institutions, as well as participants in the Skolkovo project. The relevant decision to these legal entities must be consolidated in financial policy.
Determination of current deduction from profit
The procedure in accordance with which it will be calculated must be recorded in financial policy. Enterprises can use one of the following definition options: taking into account IT in accordance with current accounting information or not taking the latter into account. Meanwhile, in any case, the amount of the current deduction should duplicate the data from the declaration for the corresponding time period. If the company chooses the second option, then it also needs to keep a record of IT. 
Score 77: 1C
IT, formed at the enterprise, corresponds with two articles: 99 and 68. Using 77 account accounting, the specialist makes the following entries:
- Dt. 68 cd of account 77 - deduction that reduces the amount of income / expense.
- Dt. 77 cd of account 68 - repayment of IT. This record is formed when calculating income tax at the end of the reporting period.
- Dt 77 Cd account 99 - cancellation IT. This operation is subject to the disposal of the asset or the elimination of the circumstances that contributed to its formation.
Score 77 should reflect information on each type of asset separately.
Basic insurance operations
These include the receipt of contributions and the payment of reimbursement. To account for the operations apply. 22, 92 and score 77.1. The analysis under the last article is conducted by type of insurance and type of contract. Accounting for basic insurance operations is carried out “on an accrual basis”. In the event of liability, a record is made:
DB account 77.1 Cd 92.1.
Features of the accrual method
When accounting for expenses in this way, according to Article 330 of the Tax Code, insurance premiums under the contract are included in expenses at the date the obligation arises to pay them in favor of the insured person or the insured. In this case, the incident should be expressed in the absolute amount calculated according to the rules provided by law. When applying the accrual method, two entries are made:
- Compensation and the amount of compensation for expenses incurred to reduce the loss, if they were necessary or made by order of the insurer - DB cf. 22.1 cd 77.1.
- Payment of the above amount - dB cf. 77.1 cd 51.
Accrued insurance indemnities may be included in the next installment. In this case, a record is made:
DB 77.1 Cd 92.1.
The reimbursement allows repayment of loans taken from an insurance company in accordance with the terms of the agreement (DB 77.1 Cd 58) and% on them (DB 77.1 Cd 91). 
Personal income tax
For some insurance indemnities, individual income tax should be charged at the established rates. Compensation is paid in such cases after the deduction of personal income tax. The insurance company is obliged to withhold and deduct this tax on payments in cases established by regulatory enactments. These include:
- Early termination of the agreement on voluntary long-term life insurance before the expiration date and the repayment of redemption amounts.
- When concluding contracts, the subject of which is the protection of property from risks. These include, but are not limited to, liability insurance agreements for the destruction / destruction of material assets.
Calculation and withholding of personal income tax is also made upon the conclusion of contracts providing compensation in case of damage to the property of a person.