Vadym hetman kyiv national economic university

Topic 11. The control of calculations correctness and payment timeliness of the profit tax to the budget

Office verification (desk audit) of declarations on a profit tax. Timeliness of submission of the declaration. The consistency of the data provided in the declaration with the data reflected in the application. The logic of calculation. Determination of the profit tax amount that must be paid to the budget.

Documentary inspection of the accounting statement connected with charging profit tax. The completeness and correctness of recording results of the previous inspection.
The accuracy of the accounting income of taxpayer. The fullness of the inclusion in the object of taxation of income from non-sale (non-realization) operations. The correctness calculation of income from operations with foreign currency. Completeness of inclusion in the revenue the income from operations with fixed assets.
The correctness of the accounting of amounts uncollectible receivables and payables.
The validity of the taxpayer’s expenses. The correctness accounting of direct expenses. The accuracy of the employee expenses (cost of labor personnel cost). The legitimacy of the establishment of reserves for future expenses. The reasonableness of the cost of clothing, footwear, food; scientific and technical support; training; advertising; entertainment expenses; business trip expenses; rental expenses; maintenance of socio-cultural sphere; other expenses.
The check of correctness of calculation a single social contribution. The reliability of the object of contribution. Payments that are not included in the object of taxation. The correct application of the rates.
The control over the completeness of fees assessment for the development of viticulture, horticulture and hop growing. The subjects under control. Timeliness of submission of the report on the amount of the fees assessment. Preliminary check of the report: availability of all requisite elements of documents, the correctness of filing the rows and columns. Arithmetic calculations. Documentary verification: the accuracy of the object of fee assessment. Penalties.
Keeping the rules of the accounting of fixed assets and depreciation. The validity of the objects of depreciation. Correctness of the application and norms of depreciation deduction. The accuracy of the carrying value of the group of fixed assets. The validity of increasing (decreasing) in carrying value connected with the acquisition, reconstruction, repair process, sale and liquidation of fixed assets. The timeliness of stopping the submission of depreciation.