Audit example of interest-bearing bills

Interest expenses should be recorded in the "financial expenses" account.

Debit: financial expenses ××××××

Credit: notes payable ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××

If the interest amount is not large, whether it is accrued or not will not have a significant impact on the accounting statements, and it can be included in the financial expenses at one time when the principal of the bill is returned and the interest is paid.

On February 20, 2005, an enterprise discounted an interest-bearing bank acceptance bill with a face value of 2 million yuan and an interest rate of 2. 16%. The date of issue of this bill is 10, 2 1, and in 2005, the stipulated term is 90 days, and the discount rate of the bank where the account is opened is 2.475%. The enterprise account shows the actual discount 1995852.72 yuan. There is no relevant original certificate issued by the bank in the attachment of the audited accounting certificate. The accounting entry of +65438 of this enterprise on February 20, 2005 is:

Debit: bank deposit 1995852.72

Financial expenses 4 147.28

Credit: 2,000,000 notes receivable.

Through the test of bills receivable, the audit team recorded in the Audit Working Paper that an enterprise held an interest-bearing bill receivable in l2 in 2005, which was a bank acceptance bill. The issue date of this bill is June 65438+10/October 265438 +0, 2005, and the term of the bill is 90 days. After calculation, the maturity date of the bill should be June 65438+ 10/9, 2006, and the enterprise will discount the bill in the bank on February 20, 2005. As of the discount date, the enterprise has held the bill for 60 days and the discount period is 30 days.

The approval calculation of bill discount is:

① Maturity value = 2000000+2000000× 2.16 %× 90/360 = 2010800 (yuan)

② Discounted interest = 2010800× 2.475 %× 30/360 = 4147.28 (yuan)

③ Actual discount = 2010800-4147.28 = 2006652.72 yuan.

This calculation result is quite different from the book records of enterprises. Because the enterprise did not withdraw interest from the interest-bearing notes receivable at the end of the accounting period, the audit believes that the correct accounting entries for the previous year should be:

Debit: Bank deposit 2006652.72

Credit: 2,000,000 notes receivable.

Financial expenses 6652.72

The second paragraph of Article 18 of the Accounting System for Enterprises stipulates: "The receivable with interest, calculated according to the principal (or face value) and the determined interest rate, will increase its book balance at the end of the period and be recognized as interest income, which will be included in the current profit and loss." On June 3rd, 2005, and June 30th, 2005, 35438+0 1 day, the enterprise shall withdraw the interest of "notes receivable" and record it in the account.

The entry of June 5438+1October 3 1 should be

Debit: notes receivable1200 (200,000× 2.16 %×10/360)

Loan: financial expenses 1200.

The entry for 165438+20051October 30th should be

Debit: 3600 notes receivable (2000000× 2. 16 %× 30/360)

Loan: the financial expenses are 3600.

On February 20, 2005, at the discount of +65438, the entries were as follows.

Debit: Bank deposit 2006652.72

Credit: notes receivable 2004800

Financial expenses 1852.72

This transaction should have reduced the financial expenses of the enterprise by 6,652.72 yuan last year, but the enterprise mistakenly recorded it as a debit of 465,438+047.28 yuan and an overpayment of 65,438+00800 yuan (6652.72+465,438+047.28), which is exactly the amount from the date of the transaction to June 2005.

The audit team checked the accounts with the bank, and the bill provided by the bank showed that the income of the enterprise on February 20, 2005 was 2,006,652.72 yuan, and no record of 65,438+0,995,852.72 yuan was found. The discount voucher provided by the bank shows that the discount of this enterprise is 2006652.72 yuan. On the contrary, the accountant in charge of the bill discount business of an enterprise cannot provide the accounting basis for the discount of RMB 1995852.72 in the February 2003 certificate of the enterprise. Through further evidence collection, it is proved that the accountant in charge of bill discount business embezzled the bill discount interest by making accounts without original vouchers and changing and adjusting the "bank statement". Accordingly, the audit suggested that enterprises adjust relevant accounting subjects and further investigate the responsibilities of relevant personnel. As the financial expenses have been deducted from the total profit of the previous year as the period expenses, the account of "financial expenses" can no longer be adjusted this year, but can only be adjusted through the account of "profit and loss adjustment of previous years".

The adjustment entries in 2006 should read:

Debit: other receivables-accounting ×× 10800

Credit: adjustment of profit and loss in previous years: 10800

After receiving the reimbursement from the accountant

Debit: cash or bank deposit 10800

Loans: other receivables-accounting ×× 10800

At the same time, the income tax paid for increasing profits (the income tax rate implemented by the enterprise is 33%) is 3564 yuan (10800×33%), and the entries are:

Debit: profit and loss adjustment of previous years 3564

Loan: Taxes payable-Income tax payable 3564

According to the profit distribution procedure of the enterprise, the statutory surplus reserve fund is drawn at 10% of the net profit, and the public welfare fund is drawn at 5% of the net profit. The legal surplus reserve to be supplemented is 723.6 yuan [(10800-3564 )×10%], and the public welfare fund to be supplemented is 36 1.8 yuan [( 10800-3564)×5%].