Accounting for a bill with a discount. Discount bill Determine the size of the bill discount rate

After your company has issued its own promissory note, you need to monitor the amount of promissory interest or promissory discount every month (this depends on the type of your promissory note). Indeed, for the purposes of taxation of profits, there are certain restrictions on accounting for interest in expenses. And these restrictions also apply to promissory note interest and discounts.

How to calculate interest on a bill for a month

The text of an interest-bearing bill must indicate the rate for calculating the interest that the drawer will be required to pay in excess of the face value when redeeming the bill.

Attention

Interest accrual stops after the maximum term for presenting a bill for payment.

As a general rule, interest begins to accrue from the day following the day the bill was drawn up. But if the bill itself indicates a different date for the start of interest accrual, then this will be the first day for interest accrual in pp. 5 , , 77 Regulations on transfer and promissory notes, approved. Decree of the CEC of the USSR and the Council of People's Commissars of the USSR dated 07.08.37 No. 104/1341 (hereinafter referred to as the Regulation); Letter of the Ministry of Finance dated November 6, 2008 No. 03-03-06/2/150. An exception is a bill of exchange with a payment term "at sight, but not earlier." If it is not specified from which date to accrue interest, then they can be accrued from the date "not earlier" paragraph 19 of the Resolution of the Plenum of the Supreme Court No. 33, the Plenum of the Supreme Arbitration Court No. 14 of 04.12.2000.

Interest is accrued on the day the bill is presented for payment, but in general not more than 365 (366) days, unless a longer period is specified in the bill itself.

If the drawer has limited the term for presentation of the bill by the clause "on presentation, but not earlier", then 365 days begin to flow from the date "not earlier".

For example, interest on a promissory note with a maturity date of “at sight, but not earlier than 03/12/2013” ​​is accrued until 03/11/2014. If the bill is presented earlier, for example, 05/24/2013, then the last day for interest calculation is 05/24/2013.

The amount of interest accrued for the current month is calculated as follows:

• in the first month of interest accrual - from the date of commencement of interest accrual until the last day of the month;
• in the month of presentation of the bill for redemption - from the 1st day of the month and until the day of presentation;

How to calculate the discount on a promissory note for a month

In order for expenses in the form of a discount (which, as we have already said, is interest on a loan) to be taken into account in the period for which they are accrued, the amount of the discount, both in accounting and in tax accounting, must be evenly distributed over the entire period of circulation of the promissory note. clause 16 PBU 15/2008; clause 18 PBU 10/99; pp. 1, 8 art. 272 Tax Code of the Russian Federation.

You can distribute the discount in two ways.

METHOD 1. In proportion to the number of days for which the discount is due. The number of days for which the discount is due is the period from the day following the day the bill was drawn up to the day on which the bill must be presented for redemption (maturity).

The number of days of circulation of a bill in a month is determined by:

• in the month of issue of the bill - from the day following the day of issue of the bill, and until the last day of the month;
• in the month of presenting a bill for redemption - from the 1st day of the month and until the day the bill is presented for redemption;
• in other months - as a calendar number of days in a month.

How to take into account interest and discount on the "correct" bills

income tax

For income tax both discount and interest on a promissory note are recognized as expenses within the limits paragraph 3 of Art. 43, sub. 2 p. 1 art. 265 of the Tax Code of the Russian Federation;. The standard is the maximum rate for calculating interest. It can be defined:

• <или>based on the refinancing rate of the Central Bank of the Russian Federation;
• <или>based on the average rate for comparable loans.

If your company receives a lot of loans and credits, it makes sense to prescribe the criteria for comparability of debt obligations in the accounting policy, since the marginal rate determined on the basis of comparable liabilities is higher than the marginal rate determined on the basis of the refinancing rate. In general, loans are comparable if:

• they were issued in the same reporting period;
• they are issued in the same currency;
• loan terms differ by no more than 20%;
• loan amounts differ by no more than 20%.

In addition, the Russian Ministry of Finance considers that loans issued by an individual and loans issued by an organization are not considered to be issued on comparable terms x Letter of the Ministry of Finance dated 02.06.2010 No. 03-03-06/2/104.

The issue of comparability of promissory notes and non-promissory notes is disputable. From the letters of the Ministry of Finance, it can be concluded that bill and non-bill debts are not comparable Letter of the Ministry of Finance of July 21, 2010 No. 03-03-06/2/129.

FROM AUTHENTIC SOURCES

Consultant of the Department of Tax and Customs Tariff Policy of the Ministry of Finance of Russia

“Indeed, to determine the comparability of debt obligations, it is impossible to use the conditions under the loan agreement and the loan issued by a promissory note. In order for the conditions on obligations to be recognized as comparable, such obligations must be of the same type. Moreover, it is necessary that loans on identical terms be issued to two or more organizations.

To calculate the average rate for comparable loans, you must first determine the interest rate on the bill. Everything is clear with an interest-bearing bill - its rate is indicated in the text of the bill. And for discount bills, the interest rate will need to be determined independently according to the formula that we have given above. We substitute the resulting interest rate into the formula for calculating the average level of interest:

The maximum amount of interest is calculated based on the average level of interest increased by 1.2 times. As expenses, we take the smaller of the two amounts:

• <или>this maximum amount of interest;
• <или>the amount of interest actually accrued.

If you issue bills of exchange from time to time, you have not set comparability criteria in your accounting policy, or you simply do not have comparable debts, then use the rationing method at an increased refinancing rate clause 1.1 of Art. 269 ​​of the Tax Code of the Russian Federation. Since the rate on a bill cannot change a priori, to calculate the standard, we take the refinancing rate on the date of issue of the bill. Then you determine the maximum amount of discount or interest that you can take into account in expenses, according to the formula:

• <если>discount bill:

• <если>interest-bearing bill:

After comparing the maximum and actually accrued amounts of interest (discount) for the month, we recognize in expenses at the end of the month the amount that is less paragraph 8 of Art. 272, paragraph 1.1 of Art. 269, paragraph 8 of Art. 270 Tax Code of the Russian Federation.

Accounting

In accounting, the accrued amount of discount or interest is not standardized. The discount amount is evenly distributed over the entire term of the promissory note. Interest and discount are monthly recognized in other expenses x clause 15 PBU 15/2008:

• before the month of presenting the bill for redemption - on the last day of the month;
• in the month of presentation of the bill for redemption - on the date of presentation.

Accounts payable on interest or discount should be accounted separately from the principal amount of the debt, for example, on the sub-account "Interest on a bill" to account 60 "Settlements with suppliers and contractors". In the balance sheet, interest should be reflected in the same way as the amount of the debt on the bill, that is, as borrowed funds:

• <если>the date of payment on the promissory note does not come within 12 months after the reporting date, then on line 1410 "Borrowed funds" in section IV "Long-term obligations";
• <если>the date of payment on the promissory note will come within 12 months after the reporting date, and also if the due date for the promissory note is set "at sight", then on line 1510 "Borrowed funds" in section V "Current liabilities".

In the income statement, interest or discount is shown on line 2330 "Interest payable".

How to discount the "wrong" bills

As we have already said, it is not advisable to issue a discount bill with a maturity of "at sight". And, as a rule, such bills are not issued. In practice, a discount bill is often issued with a maturity date “at sight, but not earlier”. It is impossible to evenly distribute the discount on the "wrong" bill, since the maturity date for it is not known in advance. There are two ways to get out of this situation.

METHOD 1. When calculating the amount of the discount for the month, as well as the maximum amount of the discount for recognition for tax purposes, you can use in the formula instead of the "Maturity" indicator the "Estimated (estimated) term of the bill of exchange" indicator. It can be determined by the formula:

The resulting discount amount should be compared with the maximum discount amount and the lesser of these amounts should be recognized as an expense. When the bill is presented for redemption and the actual period of use of the money becomes known, it will be necessary to recalculate.

STEP 1. Calculate the maximum amount of the discount for tax purposes for the actual time of using the money.

STEP 2. Compare the total discount on the promissory note and the amount received in step 1.

STEP 3. From the lower amount, subtract the discount that was recognized in expenses in previous reporting periods.

STEP 4. Take into account the amount received in step 3 as expenses in the reporting period when the bill is presented for redemption.

In accounting, the discount amount is evenly distributed, but not normalized. The entire discount that has not been accrued by the time the bill is presented is recognized as other expenses as of the date the bill is presented. clause 6 PBU 15/2008; pp. 11, 18 PBU 10/99.

METHOD 2. Do not distribute the discount between the reporting periods, since the interim payment of interest (discount) on the promissory note is not provided. The entire discount is recognized as an expense in the reporting period when the promissory note is presented for redemption. Art. 54, sub. 2 p. 1 art. 265 of the Tax Code of the Russian Federation; Decision of the Presidium of the Supreme Arbitration Court dated November 24, 2009 No. 11200/09.

In accounting, the discount is recognized in full in other expenses as of the date the promissory note is presented for redemption. clause 15 PBU 15/2008.

We pay (repay) our own bill

income tax

The redemption of a promissory note does not entail any consequences for income tax. sub. 12 st. 270 Tax Code of the Russian Federation.

Accounting

A bill during its "life" could change many owners, but you make a payment on a bill to the person who presented it for payment pp. 14, 16 Provisions. And in accounting it is necessary to show the repayment of a bill transferred to the supplier for goods (works, services).

Consider accounting for the "wrong" own bill - this often causes difficulties.

Example. Accounting when issuing own bills

/ condition / On March 15, 2013, Buratino LLC shipped oak boards for Zolotoy Klyuchik LLC in the amount of 3,300,000 rubles, including 18% VAT. On the same day, Golden Key LLC issued its own bill of exchange in the amount of 3,335,000 rubles as security for payment. with a payment term "at sight, but not earlier than April 1, 2013". The bill was presented for redemption on 04/01/2013, the money was received on the current account on the same day. The reporting period for income tax is a quarter.

/ decision / On the date of receipt of the bill of income and expenses for tax purposes does not arise. In calculations, we will proceed from the fact that the bill can be presented for payment no later than 03/31/2014. Discount 35,000 rubles. (3,335,000 rubles - 3,300,000 rubles) is due to the bill holder for 381 days (16 days from 03/16/2013 to 03/31/2013 and plus 365 days). Calculate the monthly discount:

• as of March 31, 2013 - 1469.82 rubles. (35,000 rubles / 381 days x 16 days);
• as of 04/01/2013 - 33,530.18 rubles. (35,000 rubles - 1469.82 rubles).

In tax accounting, the maximum amount of the discount in March will be 21,481.64 rubles. (3,300,000 rubles x 8.25% x 1.8 / 100% / 365 days x 16 days). Since the standard is not exceeded, then in March the actual amount of the discount will be recognized - 1469.82 rubles.

The maximum amount of the discount as a whole on the promissory note for the entire term is 22,824.25 rubles. (3,300,000 rubles x 8.25% x 1.8 / 100% / 365 days x 17 days). This is less than the total discount on the promissory note - 35,000 rubles, so the "missing" 21,354.43 rubles will be recognized as expenses in April. (22,824.25 rubles - 1,469.82 rubles).

Such entries will be made in the accounting records of Zolotoy Klyuchik LLC.

Contents of operation	Dt	ct	Amount, rub.
As of the date of receipt of materials (15.03.2013)
Received materials	10 "Materials"	60 "Settlements with suppliers and contractors", sub-account "Settlements"	2 796 610,17
Reflected the amount of VAT on purchased materials	19 "VAT"	60, sub-account "Settlements"	503 389,83
VAT accepted for deduction	68 "Calculations on taxes and fees", subaccount "VAT"	19 "VAT"	503 389,83
Own bill issued	60, sub-account "Settlements"		3 300 000,00
As of the last day of the month (03/31/2013)
March discount recognized	91 “Other income and expenses”, sub-account “Other expenses”		1 469,82
As of the promissory note redemption date (04/01/2013)
April discount recognized	91, sub-account "Other expenses"	60, sub-account "Interest on a bill"	33 530,18
PNO recognized ((33,530.18 rubles - 21,354.43 rubles) x 20%)	99 "Profit and loss", sub-account "PNO"	68, sub-account "Income tax"	2 435,15
Money transferred by bill	60, sub-account "Promissory notes issued"	51 "Settlement account"	3 300 000,00
	60, sub-account "Interest on a bill"	51 "Settlement account"	35 000,00

But what if the due date has come and the bill has not been returned to you? Nothing special, do the same as with ordinary accounts payable: after the statute of limitations expires, write off the debt on the bill, along with interest, into income. paragraph 18 of Art. 250 Tax Code of the Russian Federation. At the same time, the limitation period - 3 years - is considered not from the date of drawing up the bill, but from the latest date when the bill can be presented for payment from pp. 70, 77 Regulations; Decree of the FAS MO dated 05.09.2011 No. КА-А40/9381-11.

The leading form of promissory note lending is early, before the due date, the sale of a promissory note.

bank, which is denoted by the terms "discount" "accounting" or "accounting".

Discounting bills is that the bank, buying a bill, urgently pays its cost to the bearer minus a certain percentage of the face value of the bill, called discount interest. Discounting a bill, the bank carries out a refinancing operation, and itself receives payment only with the onset of the period specified in the bill.

The economic essence of this operation lies in the early cash sale of the bill by its holder to the bank and the transformation of a commercial loan into a bank one. This is a profitable operation that provides the bank with income from temporary possession of promissory notes in the form of the difference between the value at which the bill was purchased and the cost of its redemption. The discount from the nominal amount of the bill is assigned by a bank or other financial institution, and is the value of the discount percentage. The term "discount" just means a discount "

The need for a discount of promissory notes objectively arises from the fact that the seller of products, having become a promissory note holder, due to the unevenness of income and expenses in the course of his activities, quite often experiences an urgent need for a more liquid form of capital than a promissory note. For settlements with his own suppliers or a bank, he, without waiting for the maturity of the bill, is looking for an organization that would buy someone else's obligations. This debt buyer is predominantly a commercial bank.

The acquisition by a bank or other financial institution of a bill before the end of its circulation period and the receipt of interest from the bill of exchange in Ukraine is not limited. Each bank in carrying out these operations is guided only by the criterion of its own efficiency and the availability of credit resources. Back in 1994. The Decree of the President of Ukraine "On the issue and circulation of promissory notes to cover the mutual debts of business entities of Ukraine" emphasized that when repaying debts and other obligations, pledging and conducting other operations, the discount rate from the amount of the bill is not limited. In addition, tax payments do not take into account the amount of obligations on unpaid bills of exchange accepted by business entities for accounting.

When accepting bills of exchange at a discount, the bank is guided by the rules of bills of exchange. Its employees are obliged to ensure that the acceptance of a bill of exchange is complete and correct in its form, that the number of endorsements is created by the legal bill holder, and that the form and content of the bill comply with applicable requirements. But the bank is not responsible for the validity of the powers and signatures of the persons who accepted the bill.

The procedure for accounting operations with the redemption of a bill at the place of registration is reflected in scheme 9.1.

The role of the bank is important in the discount process. When buying a bill from his client - the holder of the bill, he provides him with

a loan for which it receives a debt obligation of third parties 1 becomes the recipient of those funds that should be received at maturity. This maintains the liquidity of the bill as a security, ensures the timeliness of production and marketing and other operations of participants in economic life. This process of early repayment of a loan by discounting bills is called refinancing. Refinancing puts the following main payments on promissory notes:

Bills discounted by the bank must have at least two signatures - the drawer and the first bill holder;

Bills of exchange must be drawn up and issued in accordance with the requirements of the current legislation;

The execution of bills of exchange must not contain defects in form that can deprive the bank of the right of a legal bill holder;

The chain of endorsements cannot be interrupted or inconsistent.

If the bills contain a number of signers who assume unconditional responsibility in case of non-payment, such a bill is more credible and is readily accepted for accounting. Recall the following pattern: the more endorsements on a bill, the greater the reliability of timely payment it guarantees.

Of course, there can be non-recourse endorsements on bills of exchange - "Without turnover on us", "Without liability" and others. Although to a certain extent they undermine confidence in the reliability of previous signatures, however, they are allowed to be recorded. But this is done only when, in addition to them, there are at least two signatures. At the same time, it is mandatory that the signature of the last holder when transferring a bill of exchange in accounting should not be non-negotiable.

If the bank is confident in the reliability of the bill, he agrees to buy it, pays the bearer the amount of money and receives the right to demand payment on it.

The discount is carried out by deducting interest from the amount of the bill from the date of purchase to the day of payment. In general, such a number is found, adding to which the amount of interest, it would be possible to obtain a bill of exchange. The discount rate is adopted by the officially established discount rate of the National Bank, which is called the official discount. But, as a rule, commercial banks take into account bills, based on a rate slightly higher than the percentage, since the commission is also taken into account.

Some bills may be discounted at a lower rate of interest than the official one. But then increased requirements are imposed on them, that is, they must be bills; issued to reputable payers and accepted by them; non-domiciliation of a bill; payable in places where there are institutions of the National Bank; issued for a period of not less than 14 and not more than 90 days.

These and other requirements reflect the notion of first-class bills. In particular, the following promissory notes and bills of exchange are considered first-class:

Those that arose on the basis of the execution of real commodity transactions and are confirmed by waybills, receipt orders or other documents;

Having the acceptance of the payer's bank, which greatly simplifies the receipt of payment, and an authoritative aval, that is, a guarantee inscription of a highly efficient company or a well-known commercial bank;

Those behind which there are high creditworthiness and reputation of the holder and payer.

A bill of exchange is accepted for accounting only after a thorough analysis of all its financial and economic factors and verification of the reputation of the obligated persons. The scale and responsibility of this work requires high professional training. It covers the day-to-day conduct of active and passive operations, including the assumption of various promissory notes by commercial banks - to act as payers, endorsers, ava-list, intermediaries. To do this, commercial banks, depending on the needs, form working groups of bill experts, and even create special bill departments.

Transfer by bill holders to banking structures before the full redemption of the security.

The credit institution pays the amount of the promissory note minus the commission (discount) corresponding to predetermined amounts.

The economic meaning of discounting bills

Promissory notes are a convenient payment method. A firm that does not have enough cash to pay its obligations may issue a security to a creditor. Its execution does not require drawing up an issue project, long-term approval or registration with regulatory authorities: it is enough to obtain the consent of the creditor and fill out a special form.

In practice, it happens that the holder of the bill needs cash before he can claim it under the terms of the bill. In order to receive funds on a security, he has the right to apply to a bank or another company that will give him a part of the debt amount minus its own commission. This operation is called discounting.

The discount rate used by banks is similar to that used by financial institutions when issuing loans to legal entities. In fact, discounting is the provision of credit to the owner of the security.

The bank that redeemed the bill shall transfer the right to demand the amount of the debt from the drawer and interest on it. He cannot sell the security, because de jure the holder of the bill who has ceded his rights of claim remains its owner.

The drawer, to whom the bank will apply within the specified time for the redemption of the bill, is not entitled to question the legitimacy of his demand. If he believes that the discount deal was made in violation of the law, he must prove his case in court.

The procedure for discounting bills of exchange of different types

From the point of view of the method of designating the income of the holder of a bill, there are two types:

• Discount. They indicate the fixed amount to be paid to the holder of the bill. His income is the difference between the amount of redemption of the security and the cost of its acquisition.
• Interest. They prescribe the interest rate at which the income of the bill holder is calculated. Interest begins to accrue from the day following the date of issue of the bill, and stop "drip" at the time of its full repayment.

To discount bills of exchange where a fixed amount of debt is indicated, the following formula is used: where:

DV is the value of the security that the bank will pay to the owner upon its early redemption;

HB - the nominal value of the bill indicated on the security;

BH - the number of days remaining until the date of repayment, i.e. before the date specified in the bill;

C is the discount rate announced by the credit institution, i.e. fee, charging it for the services rendered to the holder of the bill.

The difference between HB and DV is the amount of remuneration that goes to the bank for performing intermediary functions.

For interest-bearing bills, a more complex discount formula is used:

DV \u003d HB * (1-BH * C) * (1 + ON * SV)

where:

CB - the interest rate indicated on the bill;

PO is the period of circulation of a security (in days) until it is registered in the bank.

When a bill holder redeems a bill at a credit institution ahead of the due date, he automatically loses part of the interest on the security, which goes as a reward to the banking structure.

Received from the counterparty, can bring additional income. For accounting and tax purposes, income must be calculated and accounted for.

This follows from Articles 5 and 77 of the Regulation, approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341, paragraph 22 PBU 19/02, paragraph 7 PBU 9/99, paragraph 11 PBU 10/99, paragraph 3 article 43 and paragraph 4 of article 328 of the Tax Code of the Russian Federation.

How to calculate additional income on a bill depends on the form in which this income is received:percent or discount .

Interest calculation

The calculation of interest on the received bill depends on the following indicators:

• the amount on which interest is charged;

• interest rate on the bill;

• the duration of the period for which the calculation is made (for example, a month).

To determine the amount of interest on a bill for a month, use the formula:

This follows from paragraph 16 of PBU 9/99 and paragraph 4 of Article 328 of the Tax Code of the Russian Federation.

The amount on which interest is charged is par value of a bill .

The rate at which interest is charged is indicated on the bill itself. If the rate is not included in the bill, it is considered interest-free.

This procedure follows from Articles 5 and 77 of the Regulations, approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341.

• the date from which you want to start accruing interest;

The procedure for determining the date from which you need to start accruing interest on a bill does not depend on whose bill is received: a third party or the counterparty's own bill.

Calculation of interest for the month start from the day following the day when the bill was received into ownership (for the month in which it was received), or from the day of the beginning of the month (if the bill was received last month). If the bill itself indicates a later date from which interest is calculated, calculate them also from the next day.

This procedure follows from articles 5, 73 and 77 of the Regulations, approved by the resolution of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341, and explained by the letter of the Ministry of Taxes and Taxes of the Russian Federation for Moscow dated February 18, 2004 No. 26-08 / 10738.

Consider the last day of interest accrual:

• the last day of the month in accounting or taxation (if on this date the bill is the property of the organization);

• the day when the bill must be presented for redemption (the end of the bill circulation period);

• the day when the period during which interest is calculated ends (if it is set in the bill and does not coincide with the date of its repayment).

This follows from paragraph 16 of PBU 9/99, paragraph 4 of Article 328 of the Tax Code of the Russian Federation, Chapter V of the Regulation approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR of August 7, 1937 No. 104/1341, and paragraph 19 of the Resolution of the Plenum of the Supreme Court of the Russian Federation of 4 December 2000 No. 33 and the Plenum of the Supreme Arbitration Court of the Russian Federation dated December 4, 2000 No. 14.

An example of calculating interest on a bill of a third party for a month

On January 12, Alfa CJSC (seller) entered into a contract for the supply of a consignment of goods with Germes Trading Company LLC (buyer) for a total of 118,000 rubles. (including VAT - 18,000 rubles). The contract provides for the payment by the buyer of an advance payment in the amount of 23,600 rubles. (including VAT - 3600 rubles).

On the same day, Hermes handed over to Alfa a promissory note from a third party (JSC Nadezhny) with a face value of 23,600 rubles as an advance payment. The bill provides for the accrual of 5 percent per annum from the date of drawing up the bill.

23 600 rub. × 5% : 365 days × 19 days = 61 rubles.

An example of calculating interest on a counterparty's own bill for a month

On the same day, Hermes handed over its own bill of 118,000 rubles to secure payment for goods. The bill provides for the accrual of 5 percent per annum from January 20.

Alfa's accountant calculated the amount of interest on the bill for January:
RUB 118,000 × 5% : 365 days × 11 days = 178 rubles.

Situation: when should the drawer accrue interest on a bill with a maturity date “at sight, but not earlier…”? The early date for presentation of the bill has not arrived.

Interest on a promissory note with a maturity date of “at sight, but not before…” shall be calculated from the day following the day indicated as the earliest date on which the promissory note can be presented for payment. It is explained like this.

Bill holders calculate interest from the date of receipt of the bill or a later date indicated on it (Articles 5 and 77 of the Regulation approved by the Decree of the Central Executive Committee and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341).

The Supreme Arbitration Court of the Russian Federation explained this procedure as follows. Interest must accrue later than the date of drafting (receiving) the bill, if:

• it contains a direct clause about this (i.e., the inscription “interest is accrued from such and such a date” indicating a specific date);

• the payment term for it is “upon presentation, but not earlier ...” indicating a specific date.

This is stated in paragraph 19 of the decision of the Plenum of the Supreme Court of the Russian Federation of December 4, 2000 No. 33 and the Plenum of the Supreme Arbitration Court of the Russian Federation of December 4, 2000 No. 14.

In any of these cases, when calculating interest, do not include the day from which interest is calculated. That is, start counting the number of days from the day following one of the indicated moments. This follows from Article 73 of the Regulations, approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341.

Discount calculation

The calculation of the discount on the received promissory note depends on the following factors:

• the total amount of the discount (the difference between the nominal and initial value of the bill);

• the number of calendar days remaining until the end of the term of circulation of the bill (ie, until the last day when it can be presented for payment);

• the duration of the month for which the calculation is made.

To determine the discount amount on a promissory note for a month, use the formula:

This calculation procedure follows from paragraph 22 of PBU 19/02, paragraphs 7 and 16 of PBU 9/99, paragraph 3 of Article 43 and paragraph 4 of Article 328 of the Tax Code of the Russian Federation.

The procedure for determining the number of calendar days remaining until the end of the circulation period does not depend on whose bill is received: a third party or the counterparty's own bill.

Determine the number of calendar days remaining until the expiration of the circulation period for the bill, starting from the day following the day of receipt of the bill, until the day when its circulation period ends.

This procedure follows from Chapter V and Article 77 of the Regulations, approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341.

As a rule, the end of the circulation period (the last day when the bill can be presented for payment, or any indication of this date) is indicated on the bill itself (Articles 1 and 75 of the Regulations approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR of August 7, 1937 No. 104/1341). For example, it may be the inscription "The bill is payable on the following date: December 24, 2010."

To correctly determine the number of calendar days in a month during which the bill was owned by the organization, you need to know:

• the date from which you want to start distributing the discount;

• the date on which you want to stop accruals.

Calculation of discount for a month on a promissory note, start from the day following the day when the promissory note was received into ownership (for the month in which the promissory note was received), or the day of the beginning of the month (if the promissory note was received last month).

Consider the last day of distribution of the discount:

• the last day of the month in accounting or tax accounting (if on this date the bill is the property of the organization);

• the day the promissory note is retired from the property of the organization (for example, when sold or transferred to a counterparty on account of debt);

• the day when the bill must be presented for redemption (the end of the bill circulation period).

This follows from paragraph 22 of PBU 19/02, paragraphs 7 and 16 of PBU 9/99, paragraph 3 of Article 43 and paragraph 4 of Article 328 of the Tax Code of the Russian Federation, Chapter V of the Regulation approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341.

An example of calculating the discount on a bill of a third party for a month

On January 12, Alfa CJSC (seller) entered into a contract for the supply of a consignment of goods with Germes Trading Company LLC (buyer) for a total of 118,000 rubles. (including VAT - 18,000 rubles). The contract provides for the payment by the buyer of an advance payment in the amount of 23,600 rubles. (including VAT - 3600 rubles). On the same day, Hermes handed over to Alfa a promissory note from a third party (Sberbank of Russia) with a face value of 40,000 rubles as an advance payment. The due date for the bill is 31 March. On this day, Alfa presented the bill for redemption.

- for January: (40,000 rubles - 23,600 rubles) : 78 days. × 19 days = 3995 rubles;

- for February: (40,000 rubles - 23,600 rubles) : 78 days. × 28 days = 5887 rubles;

- for March: (40,000 rubles - 23,600 rubles) : 78 days × 31 days = 6518 rubles.

An example of calculating the discount on the counterparty's own promissory note for the month

On January 12, Alfa CJSC (seller) entered into a contract for the supply of a consignment of goods with Germes Trading Company LLC (buyer) for a total of 118,000 rubles. (including VAT - 18,000 rubles).

On the same day, Hermes handed over to Alfa its own bill of 140,000 rubles, issued on January 11, to secure payment for the goods. The due date for the bill is 31 March. On this day, Alfa presented the bill for redemption.

Alfa's accountant calculated the amount of the discount for each reporting period (month) during the entire time the bill was owned by the organization (from January 13 to March 31). The number of calendar days remaining until the expiration of the bill circulation period is 78 days (19 days + 28 days + 31 days).

The amount of the discount on the received promissory note of a third party was:

- for January: (140,000 rubles - 118,000 rubles) : 78 days. × 19 days = 5359 rubles;

- for February: (140,000 rubles - 118,000 rubles) : 78 days. × 28 days = 7897 rubles;

- for March: (140,000 rubles - 118,000 rubles) : 78 days × 31 days = 8744 rubles.

Situation: how to determine the date when this bill ceases to be valid when calculating the discount on a bill of exchange with a maturity of “at sight”?

The expiration date of such a bill of exchange is the 365th (366th) day from the date of its drawing up.

The promissory note with the term "on presentation" the debtor is obliged to pay upon its presentation. In this case, such a bill must be presented for payment within one year from the date of its preparation. Provided that this annual period has not been changed by the drawer or endorsers.

In this case, the bill does not have any inscriptions that reduce or extend the term of its circulation. Therefore, the period of its circulation is considered to be a calendar year - 365 or 366 calendar days - that is, all the days during which a bill can change hands or be owned by a bill holder.

This procedure follows from Articles 34 and 77 of the Regulations, approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341.

Situation: how to determine the date when this bill ceases to be valid when calculating the discount on a bill of exchange with a maturity “at sight, but not earlier than a certain date”?

The maturity date of such a bill of exchange is the 365th (366th) day from the earliest date when the bill can be presented for payment.

The promissory note with the term "on presentation" the debtor is obliged to pay upon its presentation. Such a bill must be presented for payment within one year from the date of its drawing up. The drawer may establish that a bill of exchange with a maturity at sight cannot be presented for payment before a certain date. In this case, the one-year term for presentation of a bill is counted from the date indicated by the drawer.

Moreover, in the period from the date of drawing up the bill to the earliest date when it can be presented for payment, the bill may also change hands or be owned by any bill holder.

That is, the term of circulation of such a bill is the period from the date of drawing up the bill to the day indicated as the earliest date when the bill can be presented for payment, in the inscription "upon presentation, but not earlier ...", plus 365 (366) calendar days.

This procedure follows from Articles 34 and 77 of the Regulations, approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated August 7, 1937 No. 104/1341. This point of view is also confirmed by the letters of the Ministry of Finance of Russia dated November 7, 2008 No. 03-03-06 / 3/14, dated November 6, 2008 No. 03-03-06 / 2/150, dated March 6, 2008 No. 03 -03-06/2/21, March 30, 2007 No. 03-03-06/2/56 and May 18, 2006 No. 03-03-04/2/143.

How is income on a bill calculated?

Remark 1

A bill as a security can bring income to the one who acquires this bill (the holder of the bill, the creditor). However, in order to profitably invest in the purchase of a bill, it is necessary to calculate the possible income.

So income on a bill can be received in the following forms:

• as interest to be charged on the bill;
• as a discount (then the discount will be the difference between the amount of the bill and the amount of debt on the bill).

In the first case, the formula for calculating income looks like this:

$Dv = Sun \cdot C$

• where Dv - income on a bill of interest;
• Sun - the nominal amount of the bill;
• C - interest rate (expressed in shares).

Consider the formula for calculating income for the second form of a bill:

$Dv \u003d Sun - Cp $, where Cp - the purchase price of the bill

$Dv \u003d Cpr - Cp $, where Cp r - the sale price of the bill.

In addition to the income from the bill, the yield of the bill is also calculated. Consider formulas for calculation.

How is the yield on a bill calculated?

Since the term of the bill of exchange is usually less than a year or a year. The formula for the calculation looks like this:

$S = Bc \cdot (1 + (n/(N\cdot 100)) \cdot C)$

• where S is the amount to be received under the bill;
• Sun - the nominal amount of the bill;
• n is the maturity of the bill, expressed in days;
• C - interest rate (expressed in shares);
• N is the number of days in a year;

This method, based on exact percentages, assumes that the number of days in a year is 365 or 366 (leap year). However, the simple percentage method is also used, when the number of days in a year is taken as 360 days, and the number of days in a month is taken as 30 days.

There is another formula for calculating yield. The discount yield is determined by the following formula:

$rd = (D/Nc) \cdot (360/T)$

• where rd is the yield of the bill or the discount rate;
• D is the amount of interest income;
• Nц - the nominal price of repayment of the bill;
• T - the number of days remaining until the repayment of cash on the bill;

An example of calculating the yield on a bill

Let's consider an example of calculation.

Example 1

Suppose a company has decided to issue bills of exchange. It is necessary to calculate the placement price of such a bill if the amount for which such a bill is issued is 150 rubles, the payment period is 250 days, and the rate is 17%.

Thus, we get the following:

it is necessary to transform the formula, since it is necessary to find the unknown - S.

Transforming the formula, we get the following: 150 rubles / (1 +(250 days / (360 days $\cdot$ 100)) $\cdot$ 17%) = 134.16 rubles

Let's consider one more example.

Example 2

The bill is sold on the market for the amount of 19,000 rubles. At the maturity date, in a period equal to 120 days, the amount of the bill in the amount of 20,000 rubles will have to be paid. Let's find the profitability of the bill according to the conditions of the problem.

rd \u003d ((20,000 rubles - 19,000 rubles) / 20,000 rubles) $ \ cdot $ (360 days / 120 days) \u003d 0, 15 or 15%.

That is, the yield of the bill under such conditions is 15%.

So, depending on the form of issue, the yield is also calculated. At enterprises dealing with transactions with such securities, systems for analyzing the profitability of bills of exchange are being developed using software tools, including MS Excel. For this, special templates are created that are convenient for presenting the result and calculations. An example of such a template for calculating yield is shown in Figure 1 below.