Audit and economical analysis

Table 196

Net Profit and Its Factor Analysis

Indicator name	Line	Last year	Report year	Difference	Growth
Net sales from sales of products (goods, works and services)	010	3 362 255 550	5 180 801 340	1 818 575 790	154.0
The cost of goods sold (goods, works and services)	020	2 474 622 038	3 191 287 162	716 665 124	128.9
Gross profit (loss) of sales of products (goods, works and services) (line 010-020)	030	887 603 512	1 989 514 178	1 131 910 666	224.2
Turnover costs total (line 050 + 060 + 070 + 080) including:	040	568 302 199	752 744 444	184 442 245	132.3
Other operating costs	070	135 306 333	178 630 359	43 324 026	132.0
The deductible expenses of the reporting period after taxation	080	-	-	-	-
Other operating income	090	-	-	-	-
Benefits of Key Operations (line 030-040 +090)	100	454 607 646	1 415 400 093	960 792 447	3.12
Income from financial activities	110
Income in the form of dividends; interest income; income from finance leases; incomes from the exchange rate difference; other income from financial activities	120-160	269 112 080	506 789 162	237 677 082	188.1
Costs of financing activities:	170
Interest Charge; Interest expense on finance leases; losses from the exchange rate difference; other financial expenses	180-210	159 047 300	833 455 050	674 407 750	523.9
The financial result of the economic activity	220	564 672 426	1 088 734 205	524 061 779	192.9
Emergency Earnings and Losses	230	0	0	0	0
Profit (loss) until profit tax is paid (line 220 +/- 230)	240	564 672 426	1 088 734 205	524 061 779	192.9
Income tax	250	16 304 363	30 730 577	14 426 214	188.4
Other taxes and other mandatory payments	260	40 674 456	83 965 344	43 290 888	206.4
Net profit of the reporting period (line 240-250-260)	270	507 693 607	974 038 284	466 344 677	192.1

Conclusion: The company achieved positive results on all indicators compared to the previous year.

Including:

- the gross receipt of income increased by 1,131,910,666 thousand UZS or by 224.2%;

- expenditures increased by 184 442 245 thousand UZS or 133.2% to the previous year;

- income from financial activities increased by 237,677,082 thousand UZS or 188,1%

- financial Activity Expenditures by 674,407,750 thousand UZS or 523.9fold;

- the results of the enterprise's activity increased by 524 061 779 thousand UZS or 192.9%;

- before paying profit tax, the amount of profit increased by 524,061,779 UZS or 192.9% year-on-year.

- the amount of profit increased by 466 344 677 thousand UZS or 192.1% year-on-year.

  Analysis of payments and allocations to the budget

 

Payments to the budget and deductions are the obligations of enterprises for taxes and other obligatory payments. These obligations are short-term liabilities. Because, in accordance with the law, they must be reimbursed in the current period.

Taxes are defined as mandatory payments to the budget, which are regular, non-refundable and non-refundable, to be collected in a reasonable amount.⁵⁷

Other mandatory payments include, but are not limited to, mandatory monetary payments, customs payments, as well as by competent authorities and officials in respect of payers of legal acts, including certain rights or licenses and other the fees to be paid to issue the permitting documents shall be understood as the state duty.⁵⁸

Taxes include:

1) profit tax for legal entities;

2) the tax on income of physical persons;

3) value added tax;

4) excise tax;

5) taxes and special payments for subsoil users;

6) water use tax;

7) property tax;

8) land tax;

10) taxes on gasoline, diesel fuel and gas.

Other mandatory payments include:

1) mandatory payments to the State Targeted Funds: - single social payment; - Insurance premiums of non-budget Pension Funds; - obligatory deductions to state owned funds; Deductions to the Republican Road Fund;

2) state duty;

3) customs payments;

4) the fee for retail sale of certain types of goods and provision of certain types of services.

For simplified taxation:

• 
  single tax payment;
  
• 
  single land tax;
  
• 
  fixed tax on certain types of entrepreneurial activity.
  

In addition, during the implementation of the state national programs appropriate funds can be established and mandatory payments are established in accordance with the procedure stipulated by the legislation.

Obligations of enterprises on taxes and mandatory payments include:

- timely and full fulfillment of their tax liabilities;

- keeping accounting, financial and tax reporting according to the legislation;

-submit documents confirming the right to receive tax benefits to tax authorities and other competent authorities;

- provide the tax authorities with documents and information related to the calculation, payment of taxes and other obligatory payments at the time of the tax inspection;

- must comply with legal requirements of state tax authorities and other competent authorities and their officials, and not to impede the legitimate activities of these bodies and their officials. An analysis of taxes and other mandatory payments is carried out at the following stages:

- formation of a reliable and complete source of information on taxes and other mandatory payments;

- comparison of data on taxes and other mandatory payments in the company and tax office;

- determine the dynamics of changes in taxes and other mandatory payments;

- identify and influence the factors influencing taxes and other mandatory payments;

- formulate final conclusions on tax and other compulsory payments;

- preparation and implementation of decisions on controlling the influence of internal and external factors on the potential impact.