A NEW WAY OF AUDITING – AUDIT IN KNOWLEADGE BASED ...

Annals of the University “Constantin Brâncuşi”of Tg-Jiu, No. 1/2008, Volume 3,
ISSN: 1842-4856
c. A particular case is represented by the distribution of the amounts destined for the
participation of employees in the profits. In case of economic agents with state owned equity,
employees are granted amounts representing 10% of the net profit, without exceeding, for
each employee, the level of an average monthly base salary for the company, in the respective
financial year
In this case, the new legal dispositions state the rule according to which „the employee
participation is reflected in accounting by setting up a provision for risks and expenses equal
to the estimated amounts representing the gross amounts to which the employees are entitled,
as follows” 5 :
6812 “Operational expenditure
regarding provisions”
= 1518 "Other
Provisions”
14
10% x Net Profit
d. After deducting the amounts corresponding to the destinations mentioned, the net
profit that is obtained is recorded as follows:
129 ”Profit Distribution” = 1171 ”The
reported result
representing
undistributed
profit or
uncovered loss”
Net profit subjected to
distribution in the balance
sheet approval meeting
Accounting records performed after the approval of the balance sheet
a. The net profit obtained by the state venture „The National Lottery” from the sports
bets activity will be transferred to the Ministry of Youth and Sports for financing athletic
activities, including the Romanian Olympic Committee and the Romanian Football
Federation 6 :
1171 ”The reported result
representing undistributed profit or
uncovered loss”
b. Employee participation in the profits:
b.1 In case of private equity economic agents:
1171 ”The reported result
representing undistributed profit or
uncovered loss”
= 447 ”Special
funds –
assimilated fees
and transfers”
= 424 ”Premiums
representing
employee
participation in
the profit”
Net profit from sports bets
≤ 10% net profit subjected
to actual distribution
b.2 In case of economic agents with state owned equity:
Liabilities towards employees corresponding to their participation in the profit will be
recorded in accounting based on salary expenditure in the year following that in question and,
at the same time, the provision that was set up will be recorded under income 5 .