teaha2020

Preparation and submission of accounting reports for 2021

In the Official Gazette no. 100 of February 1, 2022 was published the Order of the Ministry of Finance no. 85 on the main aspects related to the preparation and submission of the annual financial statements and the annual accounting reports of economic operators to the territorial units of the Ministry of Finance, as well as to the Regulation of some accounting aspects.

We specify that the structure is similar to OMF no.58 / 2021 regarding the main aspects related to the preparation and submission of annual financial statements and annual accounting reports of economic operators to the territorial units of the Ministry of Finance, as well as for the regulation of easy accounting issues. on December 31, 2020.

The normative act brings clarifications regarding the preparation of the annual financial statements related to the financial year 2021 and the annual accounting reports prepared by economic operators for December 31, 2021, as well as their submission to the territorial units of the Ministry of Finance.

OMF no. 85/2022 presents the categories of annual financial statements prepared according to the applicable accounting regulations, respectively the Accounting Regulations on individual annual financial statements and consolidated annual financial statements, approved by OMF no. 1802/2014, with subsequent amendments and completions , or the Accounting Regulations compliant with the International Financial Reporting Standards, approved by OMFP no. 2844/2016, as subsequently amended and supplemented.

Thus, according to the recently published normative act, it is to prepare and submit annual accounting reports:

 

  • legal entities in liquidation, according to the law;
  • subunits opened in Romania by companies resident in states belonging to the European Economic Area;
  • the entities that have opted for a financial year different from the calendar year, under the conditions provided by the accounting law;
  • the entities that apply the accounting regulations approved by the Order of the Minister of Public Finance no. 2,844 / 2016, with subsequent amendments and completions.

We emphasize that, compared to the information reported on December 31, 2020, this order provides for the distinct reporting of the net turnover corresponding to the main activity carried out by the entities, as well as of the expenses regarding the energy consumption.

Main provisions contained in OMF no. 85/2022:

  • The accounting regulations regarding the individual annual financial statements and the consolidated annual financial statements, approved by the Order of the Minister of Public Finance no.1,802 / 2014, published in the Official Gazette of Romania, Part I, no.963 of December 30, 2014, with subsequent amendments and completions, are completed as follows:

In the general chart of accounts, contained in item 594, the accounts 6051 “Expenditure on energy consumption”, 6052 “Expenditure on water consumption”, 6461 “Expenditure on insurance for work corresponding to employees” and 6462 “Expenditure on contribution insurance for work corresponding to persons other than employees “

  • The accounting regulations compliant with the International Financial Reporting Standards, approved by the Order of the Minister of Public Finance no. 2844/2016, published in the Official Gazette of Romania, Part I, no. 1020 and 1020 bis of December 19, 2016, as subsequently amended and supplemented, is completed as follows:

In the chart of accounts, contained in point 196, the accounts 6051 “Expenditure on energy consumption”, 6052 “Expenditure on water consumption”, 6461 “Expenditure on insurance for work corresponding to employees” and 6462 “Expenditure on insurance contribution for work corresponding to persons other than employees “.

The accounting regulations for legal entities without patrimonial purpose, approved by the Order of the Minister of Public Finance no.3103 / 2017, published in the Official Gazette of Romania, Part I, no. 984 of December 12, 2017, with subsequent amendments and completions, is completed as follows:

In the general chart of accounts, contained in item 344, the accounts 6051 “Expenditure on energy consumption” and 6052 “Expenditure on water consumption”, 6461 “Expenditure on insurance for work corresponding to employees” and 6462 “Expenditure on insurance contribution” are entered. for work corresponding to persons other than employees “.

Requirements regarding the preparation and submission of annual financial statements

For the entities that apply the Accounting Regulations regarding the individual annual financial statements and the consolidated annual financial statements, approved by the Order of the Minister of Public Finance no. 1802/2014, with the subsequent amendments and completions:

  • For the entities that apply the Accounting Regulations regarding the individual annual financial statements and the consolidated annual financial statements, approved by the Order of the Minister of Public Finance 1802/2014, with the subsequent amendments and completions

Entities that at the balance sheet date do not exceed the limits of at least two of the following three size criteria provided in point 9 paragraph (2) of the Accounting Regulations approved by Order of the Minister of Public Finance no. 1802/2014, with subsequent amendments and completions, namely:

  1. a) total assets: 1,500,000 lei;
  2. b) net turnover: 3,000,000 lei;
  3. c) the average number of employees during the financial year: 10, draw up annual financial statements which include:
  1. abbreviated balance sheet (code 10), in the structure provided in point 599 of the accounting regulations;
  2. abbreviated profit and loss account (code 20), in the structure provided in point 601 of the accounting regulations.

These will be accompanied by the form “Informative data” (code 30) and the form “Statement of fixed assets” (code 40), included in the structure provided in point 6, respectively 8 of annex no. 4 of the Order.

Micro-entities shall disclose information in accordance with point 576 paragraph (2) of the accounting regulations.

Entities that at the balance sheet date do not fall into the category of micro-entities and that do not exceed the limits of at least two of the following three size criteria provided in point 9 paragraph (3) of the Accounting Regulations approved by Order of the Minister of Public Finance no. 1,802 / 2014, with subsequent amendments and completions, namely:

  1. a) total assets: 17,500,000 lei;
  2. b) net turnover: 35,000,000 lei;
  3. c) the average number of employees during the financial year: 50, draw up annual financial statements which include:
  1. abbreviated balance sheet (code 10), in the structure provided in point 599 of the accounting regulations;
  2. profit and loss account (code 20), in the structure provided in point 600 of the accounting regulations;
  3. explanatory notes to the annual financial statements.

Optionally, they can prepare the statement of changes in equity and / or the statement of cash flows.

            These will be accompanied by the form “Informative data” (code 30) and the form “Statement of fixed assets” (code 40), included in the structure provided in point 7, respectively 8 of annex no. 4 the order.

            Entities that at the balance sheet date exceed the limits of at least two of the following three size criteria provided in point 9 paragraph (4) of the Accounting Regulations approved by Order of the Minister of Public Finance no. 1,802 / 2014, with subsequent amendments and completions, namely:

  1. a) total assets: 17,500,000 lei;
  2. b) net turnover: 35,000,000 lei;
  3. c) the average number of employees during the financial year: 50, as well as the public interest entities draw up annual financial statements which include:
  1. balance sheet (code 10), in the structure provided in point 598 of the accounting regulations;
  2. profit and loss account (code 20), in the structure provided in point 600 of the accounting regulations;
  3. the statement of changes in equity;
  4. cash flow statement;
  5. explanatory notes to the annual financial statements.

These will be accompanied by the form “Informative data” (code 30) and the form “Statement of fixed assets” (code 40), included in the structure provided in point 7, respectively 8 of annex no. 4 the order.

In order to report the information as a unit, the balance sheet / abbreviated balance sheet will bear the symbol “code 10”, and the profit and loss account / abbreviated profit and loss account, the symbol “code 20″.

In the case of newly established entities, they may prepare for the first reporting year the annual financial statements provided for in either point 20 or point 21 of the Accounting Regulations approved by Order of the Minister of Public Finance No. 1.802 / 2014, as subsequently amended and supplemented.

For the financial year 2021, the entities prepare annual financial statements corresponding to the category in which they fall according to point 9 of the Accounting Regulations approved by the Order of the Minister of Public Finance no. 1,802 / 2014, with subsequent amendments and completions.

For the preparation of the annual financial statements as of December 31, 2021, the compliance with the size criteria provided above, as the case may be, is made at the end of the financial year, based on the indicators determined from the annual financial statements for the previous financial year and the balance sheet concluded at the end of the current financial year.

Entities that have chosen a financial year other than the calendar year determine those criteria based on the indicators determined in the annual financial statements for the previous financial year and the indicators determined on the basis of accounting data and the balance sheet prepared at the end of the financial year. shall end on a date subsequent to January 1, 2022.

Medium and large entities, as well as public interest entities prepare the annual financial statements provided for in point 21 of the Accounting Regulations approved by OMFP no. 1802/2014, with subsequent amendments and completions. Those annual financial statements are subject to statutory audit.

 

Entities that, at the balance sheet date, exceed the limits of at least two of the following three criteria are also subject to audit:

  1. a) total assets: 16,000,000 lei;
  2. b) net turnover: 32,000,000 lei;
  3. c) the average number of employees during the financial year: 50.

The audit obligation for the entities referred to in this paragraph shall apply when they exceed the respective limits in two consecutive financial years.

At the same time, the respective entities are exempted from the obligation to audit the annual financial statements if the limits of two of the three mentioned criteria are not exceeded in two consecutive financial years.

In the case of subunits without legal personality in Romania, which belong to legal entities based abroad, in order to prepare annual financial statements, the balance of accounts 481 “Settlements between units and subunits” and 482 “Settlements between subunits” is transferred to account 461 “Debtors various “/ distinct analytical or 462” miscellaneous creditors “/ separate analytical, as the case may be, following that, at the beginning of the following financial year, to be restored in the accounts from which they came.

In the situation where the legal person with headquarters abroad carries out its activity in Romania through several permanent establishments, the annual financial statements are drawn up by the permanent establishment designated to fulfill the fiscal obligations, these reflecting the activity of all permanent establishments. For this purpose, the permanently designated headquarters proceeds to sum up the information corresponding to the activity carried out by each permanent headquarters.

The deadlines for submitting the annual financial statements to the territorial units of the Ministry of Finance are as follows:

  1. for companies, national companies / companies, autonomous utilities, national research and development institutes, 150 days from the end of the financial year – respectively until May 30, 2022;
  2. for the other persons provided in article 1 paragraph (1) – (3) of Law no. 82/1991, republished, with subsequent amendments and completions, 120 days from the end of the financial year – respectively until May 2, 2022.

With the exception of subunits opened in Romania by companies resident in countries belonging to the European Economic Area, Romanian subunits, which belong to legal entities based abroad, submit annual financial statements to the territorial units of the Ministry of Finance within 150 days of the end of the year. financial.

The same term shall apply for the submission of the annual financial statements prepared by the permanent establishments provided for in Article 7 of the Order.

The designated permanent establishments submit the annual financial statements to the territorial unit where they are registered. Entities that have not carried out activity since the establishment until the end of the financial reporting year do not prepare annual financial statements, and will submit a statement to the territorial units of the Ministry of Finance on their own responsibility of the person responsible for managing the entity. The declaration is submitted to the territorial units of the Ministry of Finance within 60 days from the end of the financial year.

  1. Persons who opt for a financial year other than the calendar year, according to article 27 paragraph (3) and paragraph (5) of Law no.82/1991, republished, with the subsequent modifications and completions, have the obligation to notify in writing the territorial unit of the Ministry of Finance about the chosen financial year.The notification is submitted to the territorial units of the Ministry of Finance at least 30 calendar days before the beginning of the chosen financial year or within 30 calendar days from the date of establishment for newly established persons who opt for a financial year other thancalendar from the date of their establishment.

Failure to submit the annual financial statements on December 31, the statement or notification, as the case may be, is sanctioned according to the provisions of article 42 of Law no. 82/1991, republished, with subsequent amendments and completions – with a fine from 2,000 lei to 5,000 lei.

According to article 28 and article 30 of Law no. 82/1991, republished, with subsequent amendments and completions, the annual financial statements will be accompanied by the report of the administrators, the audit report or the report of the audit committee, as the case may be, and by the distribution proposal. profit or loss accounting coverage.

              The annual financial statements shall be accompanied by a written statement of the persons referred to in Article 10 paragraph (1) of Law no. 82/1991, republished, with subsequent amendments and completions – the administrator, authorizing officer or other person responsible for managing the entity , by which it assumes the responsibility for the preparation of the annual financial statements and confirms that:

 

  1. a) the accounting policies used in preparing the annual financial statements are in accordance with the applicable accounting regulations;
  2. b) the annual financial statements provide a true and fair view of the financial position, financial performance and other information relating to the business;
  3. c) the legal person carries out its activity in conditions of continuity

 

The electronic format of the annual financial statements, generated through the support programs, consists of a PDF file with an xml file and a zip extension file attached. The zip extension file will contain the required legal documents scanned in black and white, legibly, and with a resolution that allows the 9,5 MB of PDF file to be framed in the zip file.

Important mention! ANAF published, on February 4, 2022, the intelligent PDF for S1002-S1003-S1005 – Annual financial statements as of December 31, 2021 prepared by the entities whose financial year coincides with the calendar year, provided in point 1.1 of Annex no. .1 to OMF no.85 / 2022 on the main aspects related to the preparation and submission of annual financial statements and annual accounting reports of economic operators to the territorial units of the Ministry of Public Finance, as well as for amending and supplementing accounting regulations.

Legal basis:

– Law 82/1991 on accounting – Republishing, with subsequent amendments and completions;

– www.anaf.ro (https://static.anaf.ro/static/10/Anaf/Declaratii_R/1002_5_2021.html)

– Order MF 85/2022 on the main aspects related to the preparation and submission of annual financial statements and annual accounting reports of economic operators to the territorial units of the Ministry of Finance, as well as for the regulation of certain accounting aspects.