Data is included in the balance sheet. What does a completed company balance sheet look like? Structure of the enterprise's balance sheet

Accounting statements – a unified system of data on the property and financial position of an organization and the results of its economic activities, compiled on the basis of accounting data in established forms. It consists of a balance sheet, a profit and loss statement, appendices thereto, an explanatory note, and an auditor's report (if the statements are subject to mandatory audit).

Balance Sheet(Form N 1) - the main most important form of financial statements, is the main source of information about the property status of the organization, about the state of its funds in monetary value as of a certain date.

The main task of the balance sheet as a form of reporting is to show the owner what he owns or what capital is under his control, allows him to get an idea of ​​the amount of material assets, their reserves, the state of payments, the size of investments, as well as give a reliable and complete picture of financial position of the organization.

The main components of the balance sheet are assets, liabilities and equity.

The domestic economic literature gives the following definitions of these concepts:

1) assets- these are economic assets over which the organization received control as a result of the accomplished facts of its economic activities and which should bring it economic benefits in the future;

2) obligations– the organization’s debt existing as of the reporting date, which was formed as a result of the implementation of projects of its economic activities and settlements for which should lead to an outflow of assets, is considered;

3) capital– investments of owners and profits accumulated over the entire period of the organization’s activities.

A more precise definition of these concepts is given by the International Financial Reporting System (IFRS):

assets are resources controlled by the company as a result of past events from which the company expects economic benefits in the future;

obligations– this is the company’s current debt, arising from events of past periods, the settlement of which will lead to an outflow of resources containing economic benefits from the company;

capital is the share of a company's assets remaining after all its liabilities have been deducted.

The above formulations allow us to more meaningfully imagine the balance and the basics of its construction.

An asset is recognized on the balance sheet when it is probable that future economic benefits will flow to the entity. It can be reliably estimated and has value. The future economic benefits embodied in the asset will be included, directly or indirectly, in the flow of cash or cash equivalents. It is important to consider that assets are controlled by the organization, and not necessarily owned by it (for example, long-term leased fixed assets).

The data in the balance sheet is grouped into sections that reflect their content and form its structure.

The main criterion for grouping is the participation of funds in the organization’s turnover and the functions they perform.

In accordance with the classification, according to their participation in turnover, funds in the balance sheet assets are combined into the sections “Non-current assets” (circulation period more than 12 months) and “Current assets” (circulation period no more than 12 months); in the liabilities side of the balance sheet, sources of funds are combined into sections: “Capital and reserves”, “Long-term liabilities”, “Short-term liabilities”. (tab. 3)

Table 3

Organization's static balance sheet format

In accordance with the functions performed, section data is grouped by articles, each of which is a balance sheet indicator that has a monetary (value) expression, located on a separate line (see Appendix 3).

Balance sheet items are arranged separately by row, the rows are numbered (coded) for ease of working with the balance sheet. The amount reflected in the line is shown in dynamics: at the beginning and end of the reporting period. For this, graphs are introduced. Appendix 3 to the training manual contains Form N1 of the balance sheet, approved by Order of the Ministry of Finance of the Russian Federation dated July 22, 2003 N 67n “On forms of financial statements of organizations” (hereinafter referred to as Order of the Ministry of Finance of the Russian Federation dated July 22, 2003 N 67n)

Let us describe in detail the main sections and items of the balance sheet of Russian organizations.

Balance sheet asset

1. Non-current assets.

This section is represented by the following balance sheet items:

intangible assets;

fixed assets;

unfinished construction;

profitable investments in material assets;

long-term financial investments;

deferred tax assets;

other non-current assets.

These assets are united by the fact that, having arisen in the organization in material form, as a result of specific transactions, they remain in this form for more than one year.

Intangible assets(line 110) in accordance with clause 4 of PBU 14/2000 - these are objects of intellectual property, the exclusive right to the results of intellectual activity:

patent holder for an invention, industrial design, utility model;

the owner’s exclusive right to a trademark and service mark, appellation of origin of goods, etc.

Intangible assets also take into account the business reputation of the organization and organizational expenses (expenses associated with the formation of a legal entity, recognized in accordance with the constituent documents as part of the contribution of participants (founders) to the authorized (share) capital of the organization).

To accept objects as intangible assets for accounting, the following conditions must be simultaneously met:

lack of material-material (physical structure) in them;

the possibility of their identification (separation from the organization’s property);

use in production or management;

use for a long time (more than 12 months or the normal operating cycle, if the organization does not intend to subsequently resell the asset;

the ability to bring economic benefits (income) to the organization in the future;

the presence of properly executed documents confirming the existence of the asset itself and the organization’s exclusive right to the results of intellectual activity (patents, certificates, other documents of protection, agreement of assignment (acquisition) of a patent, trademark, etc.)

Fixed assets(line 120) represent a set of material assets used as means of labor and operating in kind for a long time, both in the sphere of material production and in the non-production sphere.

Fixed assets include buildings, structures, transmission devices, working and power machines and equipment, measuring and control instruments and devices, computer technology, vehicles, tools, production and household equipment and accessories, working, productive and breeding livestock, perennial plantings , on-farm roads and other relevant facilities.

Fixed assets also include capital investments in land improvement (reclamation, drainage, irrigation and other works) and in leased buildings, structures, equipment and other objects related to fixed assets.

The rules for the formation and accounting of fixed assets are established by PBU 6/01. In accordance with clause 4 of this provision, assets as fixed assets include those used in the production of products, when performing work or providing services, for a long time (over 12 months, or the normal operating cycle, if it exceeds 12 months). They are not subject to subsequent resale and are capable of bringing economic benefits (income) to the organization in the future.

The cost of fixed assets (with the exception of land) is repaid by accruing depreciation (depreciation) and writing off the amounts of amortized cost to production or distribution costs during the standard period of their operation according to the standards approved in the manner prescribed by law.

For a group of articles, fixed assets are given: fixed assets, both operating and those undergoing reconstruction, modernization, restoration, conservation (at residual value, less depreciation).

The article “Construction in progress” (line 130) includes the costs of construction and installation work, the purchase of equipment, tools, inventory, other capital works and costs. Other capital work and expenses are also carried out to prepare for construction and installation work. These are design and survey, geological exploration and drilling work, costs of land acquisition and resettlement in connection with construction, costs of training personnel for newly built enterprises, and others.

The article “Profitable investments in material assets” (line 135) reflects the organization’s investments in material assets: part of the property, buildings, premises, equipment and other assets that have a tangible form, provided by the organization for temporary use (temporary possession and use) with the purpose of generating income.

According to Art. 607 of the Civil Code of the Russian Federation, land plots and other isolated natural objects, enterprises and other property complexes, buildings, structures, equipment, vehicles and other things that do not lose their natural properties during their use can be transferred for temporary use.

These material assets are reflected in accounting in accordance with the rental agreement, leasing (financial lease), and rental agreement.

“Long-term financial investments” (line 140). Financial investments are presented as long-term if their circulation (repayment) period is more than 12 months after the reporting date.

TO financial investments organizations include state and municipal securities, securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills); contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies); loans provided to other organizations; receivables acquired on the basis of assignment of the right of claim, etc. Deposits of the partner organization under a simple partnership agreement are also taken into account as part of financial investments.

In accounting, long-term (for a period of more than 12 months) and short-term (for a period of less than 12 months) financial investments are recorded in one 58 account “Financial Investments”. Analytical accounting for this account provides the ability to obtain data on long-term and short-term investments.

“Deferred tax assets” (line 145) (the indicator was introduced into the balance sheet by order of the Ministry of Finance of the Russian Federation on July 22, 2003 N 67n.) arise as a result of the fact that a difference is formed between the accounting profit (loss) and the taxable profit (loss) of the reporting period arising due to the application of various rules for the recognition of income and expenses established in regulatory documents on accounting and tax accounting. This difference consists of permanent and temporary differences.

The line “Deferred tax assets” (line 145) has been added to the balance sheet, which reflects the amount of deferred tax assets, which is determined by multiplying the deductible temporary difference by the income tax rate. To summarize information about the presence and movement of deferred tax assets, account 09 “Deferred tax assets” is allocated in the chart of accounts. PBU 18/02 “Accounting for income tax calculations” shows in detail, with examples, the procedure for calculating deferred tax assets (and deferred tax liabilities), their recognition and reflection in accounting.

The amount of the listed items is shown in the total of section I of the Assets of the balance sheet (line 190).

II. Current assets

This section of the balance sheet is presented with a more detailed breakdown of each group of working capital. Unlike non-current assets, they are very dynamic.

Current assets(current assets) are the funds of the organization, which during the normal production cycle or within a period of one year, if the cycle is shorter than one year, must again turn into cash.

Normal production cycle– the average time required for funds invested in tangible assets to return to cash.

Current assets include the following accounting items:

inventory (line 210);

value added tax on acquired assets (line 220);

accounts receivable (line 240);

short-term financial investments (line 250);

cash (line 260);

other current assets (line 270).

Reserves are presented in the balance sheet as a group of items:

raw materials, materials and other similar values;

animals for growing and fattening;

costs in work in progress;

finished products and goods for resale;

goods shipped;

deferred expenses;

other inventories and costs.

The article “Raw materials, materials and other similar values” shows cost data (actual cost) on the balances of raw materials, materials according to the amount of actual costs for their acquisition according to one of the valuation methods (FIFO, LIFO, weighted average cost) in accordance with the selected method, fixed in accounting policies.

The article “Animals being raised and fattened” is typical for agricultural organizations. Not covered in this manual.

“Costs in work in progress” show investments (costs) in products for which the production process has not been completed. Their value depends on the composition of costs included in the cost of products or services, on the method of distribution of indirect costs, as well as on the duration of the production cycle.

The item “Finished products and costs for resale” reflects part of the inventory. It represents the final result of the production cycle - finished products, completed by processing (assembly), the technical and quality characteristics of which comply with the terms of the contract or the requirements of other documents, in cases established by law. The balance sheet reflects the balance of finished products on the account of the same name at the actual production cost.

The item “Goods shipped” contains data on the actual production cost of products shipped to the buyer. This article appears only if the supply agreement stipulates a moment different from the general procedure, the transfer from this organization to the buyer of the right to own, use and dispose of the product and the risk of its accidental loss during transportation.

According to regulatory documents, the general procedure for the transfer of products to the buyer is the announcement of sales volumes and financial results to the buyer upon the fact of shipment of the products and the transfer of settlement documents to him.

The appearance of the article “Goods shipped” is possible for an organization that determines sales revenue at the time of payment, if, in accordance with the supply agreement, the transfer of ownership is provided for upon receipt of funds. Goods sent to the buyer remain the property of the seller and their balances are shown in his balance sheet until payment is made.

The article “Deferred expenses” reflects information about expenses incurred in a given reporting period, but relating to future reporting periods. This amount of expenses recognized in accounting in accordance with the established procedure, but not related to the formation of the cost of the reporting period.

Future expenses may include expenses associated with mining preparatory work, preparatory work for seasonal production, development of new production facilities, installations and units, land reclamation and implementation of other environmental measures carried out unevenly throughout the year, repair of fixed assets when the organization does not create appropriate repair fund, etc.

These expenses are paid in full, in one lump sum, and are repaid over the period to which they relate.

An organization can write off such expenses evenly, in proportion to the volume of products (services) or in another way, depending on the specifics of the activity and the nature of the expenses.

The article “Other inventories and costs” shows inventories and costs that are not reflected in previous articles of this section of the balance sheet.

The article “Value Added Tax” (line 220) shows the VAT paid when purchasing goods or receiving services, since it is not included in the cost of these goods (services) until it is written off to reduce the budget debt for VAT calculations; the amount of VAT on acquired assets (fixed assets, inventories of raw materials and materials, intangible assets, work performed and services provided) that have not yet been submitted to the budget for credit is reflected.

“Accounts receivable” (line 230) in the balance sheet is reflected in two items:

debt for which payments are expected more than 12 months after the reporting date (line 231);

debt for which payments are expected within 12 months after the reporting date (line 241).

The first article includes subsections reflecting the organization’s settlement relations with debtors. These are buyers and customers, bills received, debt of subsidiaries and affiliates, advances issued, and other debtors.

The second article has the same structure, differing from the first in terms of debt repayment (12 months or more after the reporting date).

According to their economic content, receivables are conventionally divided into normal And unjustified.

Normal accounts receivable is formed due to the forms of payment used for goods and services.

Unjustified accounts receivable arises as a result of shortcomings in the organization’s work (when identifying shortages, waste and theft of inventory and cash)

The presence of significant accounts receivable should be considered as a factor that negatively affects the financial position of the organization, and an increase in its share in the balance sheet indicates a deterioration in the organization’s economic activity.

The article “Short-term financial investments” (line 250) includes the following types of investments:

loans provided by the organization for a period of less than 12 months;

own shares purchased from shareholders;

other short-term financial investments.

Economists believe that the division of financial investments into long-term and short-term is in a certain sense subjective, since at the time of purchasing securities it is not always possible to predict with certainty how long the organization will consider it appropriate to hold them16.

The article “Cash” (line 260) shows the cash balances as of the reporting date:

on current and foreign currency accounts in banks;

in letters of credit;

in check books;

in other payment documents (except for bills of exchange);

in monetary documents and transfers en route.

Organizations are required to keep available funds in current and foreign currency accounts in banks. Therefore, cash can be stored at the cash desk of an enterprise within the limit established by the bank in which the organization’s current account is opened. In excess of the established limits, cash in the organization's cash desk can be on the days of payment of wages and benefits for three days, including the day the money is received.

For the first and second sections of the balance sheet asset, the totals are calculated, which in total will amount to the total (currency) of the balance sheet asset (line 300).

Liability balance

III. Capital and reserves.

This section contains information about own sources of funds, grouped in the balance sheet according to functional characteristics:

authorized capital (line 410);

own shares purchased from shareholders (line 411);

additional capital (line 420);

reserve capital (line 430);

including:

reserves formed in accordance with legislation;

reserves created in accordance with the constituent documents;

retained earnings (uncovered loss) (line 470).

The article “Authorized capital” shows the amount of funds allocated by the owners of the organization for carrying out economic activities.

According to clause 67 of the Regulations on Accounting and Reporting, the balance sheet reflects the amount of authorized (share) capital registered in the constituent documents as a set of contributions (shares, shares, shares) of the founders (participants) of the organization.

The authorized (share) capital and the actual debt of the founders (participants) for contributions (contributions) to the authorized (share) capital are reflected separately in the balance sheet.

The absolute value of the authorized capital is significant only at the time of establishment of the organization. In this state, the authorized capital can remain indefinitely. If there is a need for a forced or expedient change in its value (decrease or increase), then reflection of this fact in the balance sheet is possible only after making changes to the constituent documents and registering them in the prescribed manner.

Additional capital is an addition to the authorized capital.

Additional capital of the organization- this is a part of its own capital, allocated as an accounting object to reflect the common property of all participants in the organization. At the same time, it is an independent reporting indicator.

The source of additional capital formation can be:

share premium received from the excess of the par value over the market value of the issued shares;

exchange rate differences in case of repayment of debt on contributions to the authorized capital expressed in foreign currency;

increase in the value of non-current assets from their revaluation (revaluation).

The article “Own shares repurchased from shareholders” reflects the actual costs of the organization for the repurchase of its own shares from shareholders in the amount of the balance in account 81 “Own shares, shares”.

The article “Reserve capital” shows the amount of balances of reserve and other similar funds created in accordance with the legislation of the Russian Federation or in accordance with the constituent documents.

The creation of reserve capital is provided for by the legislation of the Russian Federation. For joint-stock companies, the creation of reserve capital is mandatory, for limited liability companies it is voluntary. The size of the mandatory reserve fund is 5% of the authorized capital. The amount of annual contributions provided for by the company's charter cannot be less than 5% of net profit.

The article “Retained earnings (uncovered) loss” (line 470) shows the amount of net retained earnings (uncovered loss).

The sum of all listed items is reflected as the total of Section III of the balance sheet (line 490) and shows the amount of the organization’s own capital.

Section IV of the balance sheet “Long-term liabilities”.

Contains information about the organization's loans and credits due for repayment more than 12 months after the reporting date. The amount of the organization's debt on received loans and borrowings is reflected in the balance sheet, taking into account the interest due for the reporting period.

Line 520 of the balance sheet in the article “Other long-term liabilities” shows other types of long-term accounts payable, other than received loans and borrowings.

When reflecting loans and borrowings in accounting and reporting, you should be guided by the Accounting Regulations “Accounting for Loans and Loans and the Costs of Servicing them,” PBU 15/01, approved by Order of the Ministry of Finance of the Russian Federation dated 02.08.01 N 60n.

The item “Deferred tax liabilities” (line 515) is entered into the balance sheet in the same way as the item “Deferred tax assets” to summarize information about the presence and movement of tax liabilities. In the chart of accounts, such information is reflected in account 77 “Deferred tax liabilities”.

The total amount of outstanding long-term accounts payable is shown as a result of section IV of the liabilities side of the balance sheet, line 590.

Section V “Short-term liabilities”

This liability section of the balance sheet reflects accounts payable items whose repayment period is within 12 months after the reporting date:

loans and credits;

accounts payable;

debt to participants (founders) for payment of income;

deferred income;

reserves for future expenses;

other short-term liabilities.

In the balance sheet, the amount of the organization's debt on loans and borrowings is reflected taking into account the interest due at the end of the reporting period.

Short-term accounts payable, other than short-term liabilities in the form of loans and credits, is presented in the balance sheet on line 620. It combines various types of obligations to suppliers and contractors, to the organization’s personnel, to state extra-budgetary funds, to the budget for taxes and fees, and others.

Accounts payable (debt) to suppliers and contractors are the balance of unpaid amounts for goods and services received from them.

Debt to the organization's personnel represents the balance of unpaid wages as of the balance sheet date.

Debt to state extra-budgetary funds- these are obligations under the unified social tax (UST), which is credited to the Pension Fund of the Russian Federation, the Social Insurance Fund of the Russian Federation and the Compulsory Medical Insurance Funds of the Russian Federation and is intended to mobilize funds for the implementation of the rights of citizens to state pension and social security and medical care.

Liabilities to the budget for taxes and fees represent the balances of debt for value added tax, income tax, property tax, real estate, etc. This is the credit balance on account 68 “Calculations for taxes and fees”.

In the article Other creditors shows the organization's debt for settlements, data on which are not reflected in other items of this group of short-term liabilities. For example, amounts of debt to accountable persons, obligations for contributions for compulsory and voluntary property insurance, etc. are reflected here.

In the article Debt to participants (founders) for payment of income(line 630) reflects the organization’s debt to its founders, which is the credit balance (balance) of account 75 “Settlements with founders” (subaccount 2 “Settlements for payment of income”).

Article Deferred income(line 640) shows the amount of income of the organization that was received in the reporting period, but relates to future periods, for example, receipt of rent for several months, gratuitous receipts, upcoming receipts of debt for shortfalls identified in previous years, etc. The amount of income for future periods equal to the credit balance of account 98 “Deferred income”.

Article Reserves for future expenses(line 650) reflects the amount of expenses recorded for the purpose of including them evenly in production costs and selling expenses. This could be: reserves for paying vacations to employees of the organization, for repairs of fixed assets, for preparatory work due to the seasonal nature of production. The amount of reserves is the credit balance of account 96 “Reserves for future expenses and payments.”

By balance line Other current liabilities(line 660) shows the amount of short-term liabilities that are not reflected in other articles of Section V “Short-term liabilities” of the balance sheet.

For section V of the balance sheet liability, a total is summed up (line 690), which, together with the results of sections III and IV of the liability, shows the total total of the balance sheet liability, that is, the total amount of the organization’s sources of funds.

The balance sheet (form N1) is accompanied by a Certificate of availability of assets recorded in off-balance sheet accounts. (see Appendix 3). This is part of the balance sheet. It reflects the value of assets taken into account “off the balance sheet”.

Off-balance sheet accounts are intended to summarize information on the availability and movement of assets temporarily in use or disposal of the organization (leased fixed assets, material assets in custody, in processing, etc.), contingent rights and obligations, as well as to control individual business transactions.

Line 910 “Leased fixed assets” reflects fixed assets that do not belong to the organization by right of ownership. From the total amount of fixed assets, the cost of fixed assets held by the organization under a leasing agreement is allocated.

Line 920 “Inventory assets accepted for safekeeping” reflects the cost of unpaid materials if the contract provides for the transfer of ownership of them after payment. It also reflects the cost of materials sold but left in the organization’s warehouse for safekeeping.

Line 930 “Goods accepted on commission” reflects the cost of goods that the organization intends to sell under a commission agreement on a contractual basis (mandate agreement or agency agreement).

“Debt of non-paying debtors written off at a loss” line 940 is intended for writing off the amount of debt from the balance sheet when the debtor is declared bankrupt or three years have passed since its occurrence.

The amounts of guarantees that the organization received from other organizations are recorded on line 950 “Securities for obligations and payments received.”

If guarantees are issued by an organization, then their amounts are shown in line 960 “Security for obligations and payments issued.”

If an organization has housing assets that are not used to generate income from them, the accounting records accrue not depreciation, but depreciation (clause 17 of PBU 6/01). Information on accrued amounts is indicated in line 970 “Depreciation of housing stock.”

The amount of depreciation for external improvement objects is reflected in line 980 “Depreciation of external improvement objects and other similar objects.”

Line 990 “Intangible assets received for use” is filled out by organizations that have received the right to use intellectual property: a trademark, invention, computer program, etc. Such intangible assets are taken into account off the balance sheet at the value specified in the contract.

Balance sheet items- these are indicators (lines) of assets and liabilities of the balance sheet that characterize certain types of economic assets or the sources of their formation. Balance sheet items show the balance on a synthetic account or subaccount as of a certain date.

Balance sheet items are assessed and analyzed in the FinEkAnalysis program in the block Balance sheet liquidity assessment.

Homogeneous items are combined into sections of the balance sheet. The list of balance sheet items must meet the requirements of economic analysis and control, as well as obtaining summary indicators from statements.

Balance sheet asset items

The assets of the balance sheet of domestic organizations include items that show groups of elements of economic turnover, combined depending on the stages of turnover of funds. Thus, in section I “Non-current assets” the following is reflected:

• intangible assets (patents, licenses, trademarks, business reputation, organizational expenses),
• fixed assets (buildings, machinery and equipment, land),
• profitable investments in material assets (property for leasing, property under a rental agreement),
• other non-current assets.

Section II "Current assets" includes:

• inventories (raw materials, supplies, finished products, shipped goods, deferred expenses, etc.),
• value added tax on purchased assets,

Asset items, in accordance with the legislation and traditions of individual countries, are arranged according to a certain system. Individual items of an asset are placed on the balance sheet according to the degree of mobility of the property (degree of liquidity), that is, in direct dependence on the speed with which this part of the property acquires a monetary form in economic circulation.

In domestic practice, the balance sheet asset is built, as a rule, in order of increasing liquidity, according to which the first section shows real estate, which retains its original form almost until the end of its existence. When constructing an asset in order of decreasing liquidity, the items of cash, goods and inventories, work in progress, debtors, etc. come first.

Balance sheet liability items

The balance sheet liability consists of three sections. Section III of the balance sheet is represented by equity capital, and sections IV and V reflect attracted capital. Section "Capital and reserves" - section III of the Balance Sheet - includes the following items:

• own shares purchased from shareholders;
• retained earnings (uncovered loss).

• loans and credits;
• other long-term liabilities.

• loans and credits;
• accounts payable due in less than 12 months after the reporting date;
• debt to participants (founders) for payment of income;
• other short-term liabilities.

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Any experienced analyst can easily analyze Form 1 of the balance sheet and, with more than 70% accuracy, determine the presence of significant threats and prospects for the enterprise, as well as classify the organization relative to its field of activity. Let's look at what important details you should pay attention to when analyzing, and how to recognize a “inflated” balance.

Brief information about form 1

A sub-balance sheet is understood as a set of indicators (forming an asset and a liability), reflecting the used own and borrowed funds. In addition, the balance sheet reflects the final use of this capital (in cash).

Do not forget that discrepancies between the currencies of an asset and a liability are unacceptable. There are no situations when you purchased a product but paid less, or vice versa - the cost of the product exceeded the reflected volume of the product.

Composition of the balance sheet

Traditionally, Form 1 of an enterprise’s financial statements is divided into 5
sections:
Assets:

I. Non-current assets

Non-current assets in their structure reflect information about funds,
purchased for the long term. Sales are carried out over a period exceeding 1 calendar year (or 1 production cycle). First
section is formed from:

• Intangible assets;
• Material prospecting assets;
• Fixed assets;
• Profitable investments in material assets;
• Long-term financial investments (more than 1 year).

The above items form the backbone of the first section of the balance sheet.

II. Current assets

The section is used to reflect information about liquid assets
enterprises capable of turnover during 1 production cycle. The period for selling current assets is less than 1 year.

The following main indicators fall under this section:

• Stocks;
• VAT on purchased assets;
• Accounts receivable (short-term and long-term);
• Financial investments (except for cash equivalents);
• Cash and cash equivalents;
• Other current assets.

The exception is accounts receivable, because it reflects obligations to counterparties and from buyers, not tied to the date of occurrence. If a company maintains division by term for itself, it is taken into account when determining the liquidity ratio of the enterprise.

III. Capital and reserves

The third section reflects information about equity capital, through which the assets of the enterprise were created. Its structure looks like this:

• Authorized capital;
• Own shares purchased from shareholders;
• Revaluation of fixed assets;
• Additional capital;
• Reserve capital;
• Retained earnings.

A well-structured policy can be tracked precisely by the indicators in this section. If, at the end of the reporting period, net profit is capitalized rather than cash withdrawn through dividends, this is reflected in the retained earnings indicator.

The higher this indicator, the more responsible and serious the owners’ goals regarding the company’s development.

Also, during capitalization, this sub-item may not increase synchronously with the profit received; in this case, it is important to track changes in the reserve fund - the accounting policy of many enterprises provides for the formation of a reserve fund in a certain% ratio of the positive financial result obtained. This is not a minus, because... In the end, the usual redistribution of the structure occurs within section 3 of the balance sheet.

As a rule, the result of section 3 of the balance sheet is comparable to the net assets indicator.

IV. Long-term liabilities

The section reflects the volume of borrowed capital raised (mainly paid). It consolidates obligations with a maturity period of more than 1 year. Section presented:

• Borrowed funds;
• Deferred tax and valuation liabilities;
• Other obligations.

V. Current liabilities

The second section of the company's debt obligations. It is represented by financing for a period of less than 1 year. Similar to an asset, the accounts payable indicator may be excluded, because There is no separate line for long-term obligations, and the contract may provide for a deferred payment for a period of more or less than 1 year. Everything is decided individually and depending on the industry of the enterprise.

Radel is represented by:

• Borrowed funds;
• Accounts payable;
• Income of future periods;
• Estimated and other obligations.

During a normal production cycle, there is a uniform fluctuation in the indicators of accounts payable and receivable. The exception is companies providing financial services, namely, leasing companies - in the structure of accounts receivable they can only reflect upcoming payments, while accounts payable includes the full amount of debt under the purchase and sale agreement. In this case this principle does not apply.

If a company brings together an analytical balance, this can significantly complicate the analysis, because A clear example of the analytical balance of an enterprise is the consolidation of items:

• If in a regular balance sheet section I contains 9 positions, then in an analytical balance sheet they can
  come down to the 4 largest: fixed assets, intangible assets, financial
  investments, the remaining items go to “other”;
• In Section II, VAT is not separately allocated; it is considered in other assets;
• From the 6 indicators of Section III, indicators on own shares and revaluation are excluded;
• Long-term liabilities may be reduced to the level of borrowings and other liabilities;
• And the only one that does not undergo changes is the short-term liability section - there is simply nothing to cut there.

Ultimately, an analysis of the balance sheet liability can give not only an idea of ​​the sources of financing of the enterprise, but also reflect the dynamics of their changes over a given time lag. Unless, of course, this is an enlarged balance sheet.

The need to read the balance

• The extent of the enterprise's dependence on external creditors;
• Indicators of liquidity and solvency of the enterprise;
• Conduct a preliminary assessment of the financial condition of the enterprise;
• Assess the effectiveness of resource management;
• Weaknesses of the enterprise in the absence of growth in the profitability indicator.

Also, by filling in the balance sheet items, you can determine the type of activity of the enterprise. An example of analyzing the balance sheet of a manufacturing enterprise is the identification of a high share of non-current assets and inventories, when the share of attracted resources predominates in liabilities. Or a trading enterprise - its assets are dominated by inventories, and its liabilities are mainly accounts payable. Based on a significant share of financial investments, a management company or microfinance organization can be identified. For a significant share of fixed assets, or items of profitable investments in material assets - the balance holder (or lessor, including leasing).

This knowledge, as well as logic, helps analysts in solving problems regarding determining the type of activity of the counterparty. And if, for example, the same
a trading enterprise increases the volume of inventories, while there is no growth in retained earnings, indirectly, this may indicate problems with
counterparty. Isn’t it better to talk about the points of analysis that alarm you in advance, before the transaction, so that later failure to pay on time or the impossibility of delivery does not become an unpleasant surprise for you?

Key indicators of balance sheet analysis

Balance sheet analysis methods are quite simple to use. If you know the basic formulas and their purpose by heart, you can quickly assess the prospects of the enterprise and make a decision on further work with the company.

Traditionally, there are 4 main groups on which the analysis of the balance sheet is based. We propose to consider these groups, highlighting the main subgroups:

1. Analysis of structure and dynamics;

This section reflects the picture of the general state of the balance sheet, an analysis of the influence of indicators on the final balance sheet currency and their significance in
the structure of influence, the dynamics of items that form the backbone of the balance sheet, and their influence in obtaining the profitability of the enterprise.

• To check: the dynamics of the balance sheet currency should show a positive value, pay attention to this;
• Vertical analysis and its dynamics - when conducting analysis, check the comparability of growth/decrease rates. In particular, in a favorable situation at the enterprise, accounts receivable and payable change evenly;
• The dynamics of net assets should be positive, as well as the indicator itself. With proper work, an enterprise on its own initiative will never make a loss.

2. Analysis of financial stability;

When analyzing the financial stability of an enterprise, you can appeal by calculating capital indicators, as well as the coefficients on which the enterprise’s capital puts pressure. For example, when analyzing financial stability, standards such as net assets, own working capital, net working capital are calculated, financial independence, and the ratio of own and borrowed funds are determined.

The main purpose of this section is to determine the financial independence of the enterprise from external creditors, their share of influence and the possibility of reducing
expenses for attracting paid resources.

3. Analysis of solvency and liquidity;

The section gives an idea of ​​such a phenomenon as “liquidity of an enterprise’s current assets”, as well as the calculation of the organization’s ability to repay its short-term obligations.

4. Cost-benefit analysis.

This section gives a clear picture of the profitability of the organization. The assets of the enterprise are used as a base.

5. Analysis of business activity.

This section helps to calculate the profitability of an enterprise and its development through investments in fixed assets. Factor analysis of fixed assets is responsible for this - using the dynamics of movement, structure, efficiency of use, maintenance costs, it is possible to identify the degree of profitability from these objects and their involvement in the production process.

In the case when you have transcripts of the statements, the analytical capabilities of the balance sheet increase at cosmic speed. If before you could identify threats only on a whim, then with the advent of decryptions you will be able to identify hidden losses by:

• Financial investments (by analyzing the terms of return, or the constant extension of existing terms);
• Accounts receivable (an unreasonable increase in the debt of related companies with a disproportionately low level of profitability, an increase in debt from other counterparties in the presence of negative information regarding these persons, a lack of movement of debt in principle);
• By inventory, when turnover increases and sales decrease. Or, when a company sells seasonal goods or perishable products.

There are a lot of such examples, so the analysis of the company’s balance sheet will be all the more accurate when you have the maximum possible information.

If the counterparty refuses to provide transcripts or reporting, you can always use open sources that publish data on annual reporting: Rosstat, SPARK, or the official website of the counterparty.

In general, the proper application of balance sheet assessment methods can say a lot about your potential or current counterparty. One of the indicators is competent drafting - direct evidence of structure and strict control over the company by management. If you are unsure about your potential partners, ask them for accountability. It may tell you more than you need to know: in addition to the negative information, you can discover a new, positive side to the company.

Balance Sheet is a set of information about the value of property and obligations of an organization, presented in tabular form. The balance sheet consists of two sections: Assets and Liabilities. An asset must always be equal to a liability, which is why the report form is called Balance Sheet.

The balance sheet is the most important form of accounting reporting (form No. 1), by which one can judge the financial condition of the enterprise, what property it has and how much debt it has. The balance sheet contains data as of specific date(usually the end of the year or quarter). This is what makes the Balance Sheet fundamentally different from the other most important form of reporting, the Profit and Loss Statement, which contains data on the financial results of the organization’s activities for a certain period on a cumulative basis from the beginning of the year(usually for the year, 1st quarter, half year or 9 months.)

Balance Sheet Structure

The balance sheet includes Assets and Liabilities, the totals of which are equal. The asset balance sheet consists of two sections:

• non-current assets (assets that are used for more than 1 year: equipment, buildings, intangible assets, long-term investments, etc.);
• current assets (assets that are used for less than 1 year: raw materials, materials, short-term funds, cash, etc.).

Current assets are considered more liquid than non-current assets, i.e. can be converted into money more quickly.

If the Asset of the balance sheet shows what property the company owns, then the Liability reveals the sources of formation of this property. The liability balance sheet consists of three sections:

• capital and reserves (own funds of the company's owners);
• (loans, credits and other debt with a repayment period of more than 1 year);
• (current debt to employees, suppliers and other debts payable within 1 year).

Balance sheet form

At the moment, the form of the Balance Sheet is in force, approved by Order of the Ministry of Finance of the Russian Federation dated July 2, 2010 N 66n “On the forms of financial statements of organizations.” You can download the form. It should be noted that the form approved by the Ministry of Finance is of a recommendatory nature; an organization can add lines with its own indicators, detailing the available data, or remove lines for which it does not have data.

Who needs a Balance Sheet?

The balance sheet is the financial face of an organization. A balance sheet is necessary so that persons who have any relationship with the organization or plan to cooperate with it can assess its financial situation, how well the business is going and whether bankruptcy will occur soon. Balance sheets are studied by banks to assess the borrower's creditworthiness. The balance is submitted to the tax and statistical authorities. The balance sheet is presented to shareholders as a financial indicator of the work done by management.

The balance sheet is the main source of information for financial analysis, determining the stability of the financial position of the enterprise and the possibility of its uninterrupted operation. Typically, the Balance Sheet is analyzed together with the Profit and Loss Statement (for example, automatically, using ), thus obtaining all the main ratios characterizing the financial “health” of the enterprise.

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Balance sheet: details for an accountant

• Accounting policies for accounting purposes: what to consider in 2020?

  6. The content of the explanations to the balance sheet and the report on financial results has been clarified... 02 the content of the explanations to the balance sheet and the report on financial... periods has been clarified. 5. The composition of the balance sheet indicators disclosing information about state aid has been changed... There are two ways to present received budget funds in the balance sheet: as... budget funds; method of presenting budget funds received for financing in the balance sheet...

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• What to pay attention to when preparing annual financial statements for 2017

  ... (financial) statements consist of a balance sheet, a statement of financial results and ... including simplified accounting (financial) statements - a balance sheet and a statement of financial results ... all active-liability accounts in the balance sheet should reflect the “expanded » balance. ... loan debt is reflected in the balance sheet as part of short-term liabilities, ... accounting practice. For example, balance sheet and income statement figures...

• Accounts payable when selecting management companies through a competition

  Debt is a copy of the approved balance sheet for the last reporting period, ... The financial statements of the organization” the liability balance sheet includes three... accounts payable according to the balance sheet are not only accounts payable... recognized as the only participant in the competition, a copy of the accounting The balance sheet contains the following information: – line... the debt of the company according to the balance sheet for 2014 is...

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  This debt should be reflected on the balance sheet in account 007 "Written off...

• Events after the reporting date: how to reflect and how to disclose in financial statements

  Events are disclosed in the notes to the balance sheet and income statement... activities are disclosed in the notes to the balance sheet and income statement...). Information disclosed in the notes to the balance sheet and income statement... and the actual cost of goods. In the balance sheet, inventory is reflected in net..., subject to disclosure in the notes to the balance sheet and the income statement.

• Accounting and tax accounting in an organization with a branch

  The statements do not constitute a separate balance sheet. This means that in cases where...

• Audit of annual financial statements of organizations for 2018

  Determine the detail of indicators according to the items of the balance sheet, income statement, report... impairment. According to PBU 4/99, the balance sheet must include numerical indicators in... values. An intangible asset is reflected in the balance sheet at cost less the amount... the asset is disclosed in the notes to the balance sheet and the income statement... of the organization, as a rule, consists of a balance sheet, a report on the intended use of funds...

• A small enterprise was subject to an audit, but did not conduct it: what will be the punishment?

  No simplifications. The amount of assets on the balance sheet exceeded 60 million rubles. ..., without simplification. The amount of assets on the balance sheet exceeded 60 million rubles. ... millions of rubles or the amount of assets of the balance sheet as of the end of ... organizations have also approved simplified forms of the balance sheet, financial statements, ... 14 of Law N 402-FZ): balance sheet; financial results report; ... As appendices to the balance sheet and income statement...

• Features of the presentation of financial statements in 2018

  The subject includes: indicators reflected in the balance sheet, statement of financial performance..., provision is made for the formation of reserves, reflected in the balance sheet of the reporting entities, minus the indicated... and the preparation of accounting (financial) statements. Balance sheet. The provisions of paragraphs 25 - 34 of the Federal... that assets and liabilities in the balance sheet are presented with a division into long-term...

• Right to use the asset

  Provides two ways of presenting such a right of use in the balance sheet: 1st... presented as an independent item in the balance sheet or included in fixed assets... leases can be presented in the balance sheet together with own fixed assets... use is disclosed in explanations to the balance sheet. When applying the presentation method, ..., the organization discloses the asset item of the balance sheet, which includes the rights ...

• The discrepancy between tax and accounting reporting indicators under the simplified tax system: how to explain it to the tax authorities?

  As a general rule, it consists of a balance sheet, a statement of financial results and... accounting (financial) statements, then a balance sheet, a statement of financial results, a report...

• The LLC must conduct a statutory audit: what is the procedure for selecting and engaging an auditor, the timing and procedure for submitting an audit report?

  Confirmation of the correctness of the company's annual reports and balance sheets is mandatory in cases provided for... million rubles or the amount of assets of the organization's balance sheet as of the end... decrease. That is, the sum of the balance sheet assets will be equal to the sum of current and... non-current assets. In the form of a balance sheet, the amount of an organization's assets is reflected...

• Public disclosure of reporting indicators

  Reporting” indicators are subject to public disclosure: balance sheet; financial results report; report... budget, and budget execution indicators. Balance sheet. In paragraphs 25 - 31 of the GHS... "the following structure of the balance sheet subject to public disclosure is given: Balance sheet of the institution Assets Liabilities Long-term...

Definition 1

Basic form of financial statements– this is a balance sheet, according to which you can assess the state of the organization as of a certain date: the property and financial position of the company.

There are separate positions in the balance sheet that show what and in what quantity is on the balance of the enterprise at a certain moment. For convenience, all these indicators were combined and assigned to one or another section.

Note 1

The balance sheet is usually divided into two parts: assets and liabilities. It is important to note that the sum of the assets of the enterprise’s balance sheet is always equal to the sum of its liabilities, i.e. balance is maintained.

The asset balance sheet consists of two sections:

• section I – “Current assets”;
• section II – “Non-current assets”.

The passive includes three sections respectively:

• section III – “Capital and reserves”;
• section IV – “Long-term liabilities”;
• Section V – “Short-term liabilities”.

Any section of the balance sheet consists of groups of items (subsections), each of which reflects the types of assets and other liabilities of the company.

Definition 2

Articles- these are separate lines with which you can figure out the balance.

Section IV of PBU 4/99, which is called “Accounting statements of an organization,” is devoted to the structure of the Balance Sheet. A breakdown of the balance sheet items is also presented there.

It would seem that everything is simple, but how to figure out which of the articles to assign certain operations to, what is needed to decipher them correctly. To do this, you need to understand the meaning of all balance sheet items. Whether it is necessary to decipher such a concept as a balance sheet asset directly depends on how much of an accountant you are by nature.

What is included in the Balance Sheet Asset?

Definition 3

Balance sheet asset- these are things, means or money from which our financial income grows and increases. By the usual definition, this is precisely the left side of the balance sheet. The accountant includes material assets and intangible assets, company property, and also, do not forget about the composition and placement of existing assets.

When filling out this part of the balance sheet, you need to present and take into account the residual value of fixed assets, intangible assets, profitable investments in tangible assets, because this is what is taken into account.

The next nuance: the amount of reserve for reducing the value of material assets. It must be deducted from the cost of remaining goods and other inventories, naturally, when an inventory has been carried out, the results of which require the creation of this reserve.

Next, accounts receivable, in other words, money that is owed to us. Let's say a company has taken an inventory of payments and debts of customers and buyers to us, its management creates a reserve for doubtful debts. Then we add the amount without this reserve to the balance sheet (subtract it).

Note 2

And one more thing, financial investments are shown in the asset balance sheet without a reserve created for their depreciation, i.e., minus it.

The first asset section of the Balance Sheet

The first asset section of the Balance Sheet is called “Non-current assets”. It contains:

• various non-current assets,
• deferred tax assets,
• financial investments,
• profitable investments in material assets,
• fixed assets,
• intangible assets.

When creating a company, the founders pursue certain goals, one of which is to generate income from their activities. To make a profit over a long period of time, any enterprise uses certain assets of the organization. We'll look at which ones below.

Line 110 “Intangible assets” takes into account the amount that is obtained from the interaction of two accounts: 04 “Intangible assets” (debit balance) – 05 “Amortization of intangible assets” (credit balance). The resulting residual value of intangible assets is indicated in this line. When a company, based on accounting policy considerations, accrues depreciation for all intangible assets without account 05, then the balance sheet line will reflect the debit balance of account 04.

It is also necessary to understand that in situations where the useful life of an asset cannot be determined, then it (the asset) is called intangible with an indefinite useful life and is not depreciated. Previously, in such situations, the organization independently determined the useful life of either longer than the life of its activities or longer than twenty years. Now, for the reliability of calculating the economic benefits that will be received in the future, a depreciation method is selected that is based on them. Simply put, the old practice gives way to the new practice for natural reasons because the unreliable calculation of future economic benefits takes away the firm's discretion and it must amortize intangible assets on a straight-line basis.

Accounting and assessment of intangible assets is carried out based on the Accounting Regulations “Accounting for Intangible Assets” (PBU 14/2007), which the Russian Ministry of Finance approved on December 27, 2007 No. 153n (hereinafter referred to as PBU 14/2007).

Line 120 “Fixed assets” contains information about the company’s fixed assets (fixed assets), which are accounted for in account 01 “Fixed Assets”.

Definition 4

OS objects– material assets that are used as means of labor during the manufacture of products, in the process of performing work, providing services and managing an organization. These include:

• buildings and structures,
• machinery and equipment,
• computer technology,
• vehicles,
• productive and breeding livestock,
• perennial plantings,
• on-farm roads,
• other relevant objects.

Also taken into account:

• capital investments for radical improvement of land (drainage, irrigation and other reclamation works);
• capital investments in leased fixed assets;
• land plots, environmental management facilities (water, subsoil and other natural resources);
• specialist. tools, special devices, special equipment, special clothing (if provided for by the organization’s accounting policy).

They are accepted for accounting on account 01 and are part of the operating system.

Here we also indicate the leased property on the balance sheet of the lessee, which is taken into account by agreement of the parties, the fixed assets of the leased enterprise (if the company is leased as a property complex).

The organization takes into account all of these assets as fixed assets if they simultaneously meet the following conditions:

• the object is suitable for use in creating a product, is necessary for performing work or providing services, as well as for the needs of the organization related to management;
• the object can be used for a long time, in other words, for a period of more than 12 months, or the normal operating cycle, if it is more than 12 months;
• the organization does not plan to resell this object in future activities;
• the object will bring economic benefit (income) to the company in the future.

There are objects that are not written off from account 01. If an object is transferred for rent or free use, it is transferred for conservation, it is designated for completion or additional equipment, and also, the object is in the process of restoration, then it is not written off from account 01.

Fixed assets are entered into accounting based on their residual value. Based on accounting purposes, an enterprise has the right to independently choose the useful life of the property, and depreciation will be calculated in the chosen method, which it cannot change during the service life of the property. Only if the fixed asset is changed in any way, for example, modernized or reconstructed, its life useful can be changed.

In accordance with ext. 15 Accounting Regulations “Accounting for Fixed Assets” PBU 6/01 of the company at the beginning of the reporting year is allowed to revalue fixed assets at current (replacement) cost.

It is necessary to revaluate fixed assets by recalculating their value: initial or current (replacement). You will also have to recalculate the depreciation amounts that were accrued for the entire period of use of the objects. In accounting, the results of the revaluation of fixed assets carried out as of the first day of the reporting year are reflected separately from each other. The results of such revaluation are not included in the financial statements of the previous reporting year; they are accepted when generating the Balance Sheet data at the beginning of the reporting year.

Line 130 “Unfinished construction”.

The amount of the organization's investments in unfinished construction (except for fixed assets that were put into operation before state registration) of the Balance Sheet is entered on line 130.

The actual costs of the company for the construction of facilities incurred before the completion of these same works, as well as before the implementation of these facilities in operation, must be entered into account 08 “Investments in non-current assets” subaccount 08-3 “Construction of fixed assets”, they must be taken into account as part of unfinished construction.

Equipment for installation is also accepted for accounting at its actual cost at the time of receipt, taking into account delivery costs.

It must be reflected in the debit of account 07 “Equipment for installation”, and you need to understand that equipment that needs installation includes objects that can only be used after all its parts have been assembled, as well as those attached to anything: supports, the foundation of a building , to the floor, floors between floors, in a word, to any load-bearing structures of buildings and structures. It also includes sets of spare parts for similar equipment.

Line 135 “Profitable investments in material assets” includes property purchased for temporary use for the purpose of generating income (for leasing). Here the accountant will show the debit balance on account 03 minus the depreciation that has accumulated on the credit of account 02 subaccount “Depreciation of property related to income-generating investments.”

Let's figure out what investments can be called profitable.

Definition 5

Profitable investments can be considered property that an organization bought for the purpose of renting out and uses specifically for this purpose. In cases where property was acquired for one’s own personal use, even if it is rented out from time to time, it cannot in any case be classified in this category.

Line 140 “Long-term financial investments”.

In line 140 of the Balance Sheet Asset, it is necessary to enter all types of financial investments that are made by the organization for a period of more than a year. It shows the sum of the balances of account 58 “Financial investments” and account 55 “Special accounts in banks” subaccount, indicating subaccount 3 “Deposit accounts” in terms of amounts that relate to long-term investments. They need to be calculated taking into account the reserve for depreciation of financial investments, that is, reduce the credit balance of account 59 “Provision for depreciation of financial investments” in relation to financial investments for a period of more than a year.

To recognize an asset as a financial investment, it must meet all of these conditions simultaneously:

• documents that confirm his right to financial investments, as well as the opportunity to receive funds and other assets derived from this right, must be properly executed.
• transition to the organization of financial risks that are associated with financial investments, such as: the risk of price fluctuations, the risk of debtor insolvency, liquidity risk);
• the opportunity to bring in the near future economic benefits (income) such as interest, dividends or an increase in their value (as the difference in the sale (redemption) price of a financial investment and its purchase value, as a result of its exchange, use to pay off the organization’s obligations, growth of the current market value and etc.).

Financial investments do not include issued interest-free loans or purchased interest-free bills, because then the investments do not provide economic benefits, income either in interest form or in the form of an increase in their value, and accordingly, they cannot be indicated as financial investments.

Clause 3 of the Accounting Regulations “Accounting for Financial Investments” PBU 19/02, approved by Order of the Ministry of Finance of Russia dated December 10, 2002 No. 126n (hereinafter referred to as PBU 19/02), provides the main accounting objects considered to be financial investments. So, in more detail, these could be:

• state or municipal securities;
• securities of other organizations, these include debt securities that indicate the date and cost of repayment (bonds, bills);
• contributions to the authorized (share) capital of other organizations, including subsidiaries and dependent business companies;
• loans issued to other organizations;
• deposits in organizations related to loans;
• receivables received taking into account the agreement for the assignment of the right of claim;
• contributions, taking into account the simple partnership agreement of the enterprise - partner;
• other similar assets.

When purchasing securities with an unspecified maturity, you need to consider them as long-term in the case when the company bought them with the aim of generating income on them for more than a year.

Financial investments are taken into account in the amount of the investor's expenses upon their fact.

In accordance with the Chart of Accounts, the financial investments made by the organization are shown by the debit of account 58 “Financial Investments” and the credit of those accounts where the values ​​​​that are subject to transfer towards these investments are taken into account.

Line 145 “Deferred tax assets”.

On line 145 of the balance sheet we show the debit balance of account 09 “Deferred tax assets”. If our organization is a small enterprise, then it can state in its accounting policy that it will not apply the Accounting Regulations “Accounting for Income Tax Calculations” PBU 18/02, approved by Order of the Ministry of Finance of Russia dated November 19, 2002 No. 114n (hereinafter referred to as PBU 18/02).

Deferred tax assets are reflected precisely by those organizations that apply this accounting standard.

It is interesting that account 09 may show a very small balance. However, this amount is significant. It shows the amount that will reduce income tax in subsequent reporting periods. Judging from this, deferred tax assets in the balance sheet must be reflected as a separate line, since we cannot take this amount into account as part of other non-current assets.

Generating profit in accounting is not the same as generating it in taxation; it is calculated differently. From this it turns out that the conditional tax on accounting profit differs from the amount of profit tax that the company must pay to the budget. This leads to the fact that the (conditional) tax on accounting profit diverges from the amount of profit tax that the organization needs to pay to the budget.

Whatever one may say, in accounting we must show the conditional tax, and along with it all the differences between this conditional tax and the real income tax.

Definition 6

Differences can be temporary or permanent. These result in permanent tax liabilities, deferred tax assets and deferred tax liabilities.

Definition 7

Deferred tax asset can be calculated as the product of the deductible temporary difference and the income tax rate. In accounting, the deferred tax asset is reflected in the following entry:

DEBIT 09 “Deferred tax assets” CREDIT 68 subaccount “Calculations for income tax” – deferred tax asset has been accrued.

When expenses are accepted in parts for tax purposes, deductible temporary differences are obtained. In accounting they arise immediately if:

• the amount of depreciation accrued in accounting exceeds the amount calculated according to the rules of Chapter. 25 PCs of the Russian Federation;
• for tax and accounting purposes, a company writes off commercial and administrative expenses differently;
• in accounting, a loss is carried forward to the future, reducing income for taxation in subsequent reporting periods;
• the overpayment of income tax is not returned to the organization; instead, it is counted against future payments;
• In accounting, the enterprise included still unpaid costs in the cost of materials, although it uses the cash method of accounting for income and expenses in tax accounting.

When the deferred tax asset is determined, it must be entered into the balance sheet, in other words, it must be reflected in accounting - in the analytical accounting of the corresponding account of assets and liabilities, in the valuation of which the deductible temporary difference emerged.

Paragraph 19 of PBU 18/02 gives organizations the right to show in the balance sheet the balanced (collapsed) amount of deferred tax assets and deferred tax liabilities. For this purpose, you need to find out the difference in the balances of accounts 09 “Deferred tax assets” and 77 “Deferred tax liabilities”. If the debit on account 09 is higher than the credit balance on account 77, then we will show their difference in line 145 of the balance sheet. This time, line 515 “Deferred tax liabilities” (balance sheet liability) remains blank. This scheme also works in reverse: if the balance on account 77 is greater than the balance on account 09, then this difference must be reflected on line 515. Then, in this particular case, line 145 is not included in the balance.

Line 150 “Other non-current assets”.

Where can we include assets that are inexpensive and generally insignificant? All indicators that do not find a place in other lines of the “Non-current assets” section must be included in line 150. Other non-current assets usually include those whose cost and value can be considered insignificant. In other words, indicators that do not provide value to those who use these reports.

Such assets may include research, development and technology (R&D) expenses. They cannot be recognized as objects of intangible assets, but they are entered into account 04 “Intangible assets”.

What does Section II “Current assets” include?

In accounting, current assets include those that are relatively quickly able to transfer their value to costs. Let's include here:

• inventories (raw materials, supplies, goods, costs in work in progress, deferred costs, etc.),
• VAT on purchased assets,
• long-term and short-term accounts receivable,
• short-term financial investments,
• cash.

Line 210 “Inventories”.

It is logical that the information that we provide in the balance sheet about inventories (MP) is a copy of inventory data taken from inventories and acts; they must be 100% identical. Accordingly, the inventory itself must be carried out before preparing annual reports.

On account 10 “Materials” we enter data on materials that are the property of the enterprise at the end of the period. We do this based on the cost at which they were originally purchased.

In the case when the cost of materials has changed significantly, decreased significantly, the company needs to create a reserve (fund) for reducing the cost of material assets and apply account 14 “Reserves for reducing the cost of material assets.” This requirement is conservative and clearly demonstrates the principle of prudence.

If the valuables have partially lost quality due to: a decrease in price during the reporting year, obsolescence, partial loss of their original quality, they must be shown in the balance sheet at the end of the reporting period at the price of possible sale. This is done when it is lower than at the beginning of the purchase. We will attribute the difference in prices to financial results. The same mechanism of action must be applied to finished products and goods, and not just to materials alone.

Line 210 is the summary of all the others, as follows:

• 211 “Raw materials, materials and other similar values”;
• 212 “Animals for growing and fattening”;
• 213 “Costs in work in progress”;
• 214 “Finished products and goods for resale”;
• 215 “Goods shipped”;
• 216 “Future expenses”;
• 217 “Other inventories and costs.”

These lines decipher line 210 “Inventories” and do not require significant decoding; their meaning is in the name itself.

Line 210 displays expenses for the purchase of inventories, to which it is possible to include assets if their cost does not exceed 20,000 rubles. The funds spent on the acquisition of such assets are shown in account 10 “Materials”.

There are three ways to evaluate inventories in accounting when they are introduced into production (or otherwise written off):

1. at the cost of each unit;
2. at average cost, when assessing the inventory for each type, when the total cost of all stocks of one type is divided by the number of types.
3. according to the FIFO method (first arrival - first release). Here, inventories are written off at the cost of inventories that were received first. Accordingly, it is believed that those stocks that are received first will be sold first.

Line 213 “Costs in work in progress”.

Line 213 of the Balance Sheet asset shows the costs of work in progress (WIP) and unfinished work (services), which are the cost of products that have not gone through all stages of processing, although the technological process provides for them, for incomplete products that have not yet passed testing and technical acceptance .

In mass and serial production for WIP accounting, the following are reflected:

• according to actual or standard (planned) production cost;
• by direct cost items;
• at the cost of raw materials, materials and semi-finished products.

In the case of production of one unit of product, the PPP is reflected at the costs that are actually incurred.

The company issues an order on accounting policy, according to which the chosen method of assessing work in progress is fixed.

In the balance sheet, work in progress is reflected at the same valuation as in the accounting records. The amount of work in progress is confirmed by the necessary calculations (relevant accounting statements).

When we consider an organization whose activities are not trade, but have discovered that it divides business expenses into sold and unsold products (goods, services), then when filling out line 213, we do not take into account the entire balance of account 44 “Sales expenses”.

Undescribed costs for packaging and transportation, if they are included in account 44 as part of business expenses, are reflected in line 217 “Other inventories and costs” of the balance sheet. Various organizations that have the right to make payments to customers in stages (recorded in the contract), on line 213 can reflect the cost of work that is at least partially accepted by the customer (debit balance of account 46 “Completed stages for work in progress”). These can be construction, scientific, design, geological and other organizations.

The cost of completed stages of work, indicated in forms No. KS-2 and KS-3, which are signed by the customer, is reflected in the debit of account 46 in correspondence with account 90 “Sales”.

Line 214 “Finished products and goods for resale” reflects the actual or standard cost of products that are already ready. For trading companies, here it is possible to provide the purchase price of their goods, which consists of the costs of their acquisition.

On line 214 we reflect the sum of all debit balances on accounts 41 “Goods” and 43 “Finished products”. If the company is engaged in trade and indicated goods at the selling price, then the balance on account 41 must be reduced by the amount of the credit balance on account 42 “Trade margin”.

Firms that produce goods, on line 214, take into account the cost of unsold products that have not passed all stages intended by the technological process, in the right situations - having passed testing and technical acceptance. The accounting policy determines the actual or standard (planned) cost.

From time to time, companies purchase components (finished products) for their products, and their cost is not taken into account when determining the cost of the goods sold. The customer pays for these components separately. Such products are accounted for as goods in account 41 “Goods”. They need to be entered in line 214 of the Balance Sheet, where we reflect their value.

Trade organizations show on line 214 the cost of remaining balances of purchased goods.

Catering organizations also show here the remains of raw materials in kitchens and pantries, and the remains of goods in cupboards.

Any remaining goods are reflected in the balance sheet precisely at the cost of their purchase, which is formed according to the rules of the accounting policy approved by the company.

The indicator in line 214 of Section I increases (decreases) by the debit (credit) balance of account 15 (in the part related to the cost of purchased goods) if the organization uses account 15 “Procurement and acquisition of material assets” when accounting for purchased goods.

In addition, on line 214 you need to reflect the cost of finished products or goods, which will be reduced by the amount of the created reserve for reducing the cost of material assets.

Line 215 “Goods shipped” shows the debit balance of account 45 “Goods shipped”, which takes into account all information about products that have already been shipped, but not sold. Profit from the sale of these products by the seller is not yet recognized in accounting, since the ownership of this product has not transferred to the buyer. Situations when this happens:

• if the seller company sells goods (products) using an intermediary - commission agent or uses an agent who has the right to act on his own behalf at a time when the intermediary has not yet sold the product;
• according to an exchange (barter) agreement, if the goods have already been shipped, the ownership right to the transaction participant comes precisely at the moment of fulfilling his obligations for the counter-delivery.

As long as ownership of the goods with the completed shipment has not yet transferred to the buyer, the cost of such products is indicated on line 215. This happens when, for example, the contract itself states that the buyer receives ownership rights not at the time of shipment, but at the time of payment for the products .

The main feature is the reflection of the shipment and sale of goods in the accounting of the supplier when a purchase and sale agreement is concluded with a special procedure for the transfer of ownership - this is a reflection of the transferred goods that have not yet been paid for by the buyer on account 45 “Goods shipped”.

Line 216 “Deferred expenses” records the debit balance of account 97 “Deferred expenses”.

Definition 8

Deferred expenses– represent expenses that the company incurred in the reporting period, but they relate to the following reporting periods.

Each enterprise determines the moment of writing off these expenses to cost accounts, in other words, the period for recognizing deferred expenses, based on specific documents. The company can also independently determine this period if the documents cannot specify the period when these expenses will be recognized. Such decisions are issued in an order or directive of the manager. And then, the expenses of future periods are written off as expenses in equal shares at the time approved by the order.

When considering this cost item in accounting, it should be noted that if you receive periodicals through a subscription, they will not be deferred expenses. It is better to consider these amounts as advances issued, and then write them off to accounting accounts according to the periodicity of receipt of these publications. It is convenient to reflect the balance of the cost of a paid subscription for which newspapers, magazines and any other periodicals have not yet been received as an advance issued to the supplier as part of short-term receivables.

When a company has a non-exclusive right to use other people's intellectual property (innovations in computer programming, databases and information), payment for such services occurs as a one-time payment. This fixed amount is paid as a one-time royalty and is also included in deferred expenses.

Again, when the contract itself contains a condition under which the organization undertakes to pay for the use of intellectual property for a certain period, in this case the user company is obliged to reflect these amounts as expenses of the current period, and account 97 “Deferred expenses” is not touched. You should also do this when the amount of a one-time payment cannot be written off at a time. It is written off as expenses over the period of use of the object fixed in the contract (clause 39 of PBU 14/2007).

Line 220 “VAT on purchased assets.”

Line 220 reflects the debit balance of account 19 “Value added tax on acquired assets.” It characterizes the amounts that are allocated in invoices that are received, but not presented for deduction from the budget or not recorded in the purchase book. This line indicates the amounts of VAT that were not accepted for withholding as of January 1 of the year following the reporting year.

This is the balance of “input” VAT on purchased inventories, intangible assets, capital investments, works and services, not accepted for deduction. You need to know that due to the absence or incorrect execution of documents, amounts of “input” VAT may remain unaccounted for on account 19. This is at the end of the period, but in subsequent ones these nuances should be taken into account.

Amounts of “input” VAT that have already been deducted must be written off from the credit of account 19 to the debit of account 68 of the “VAT Calculations” subaccount. If we understand that it is not possible to recover “input” VAT from the budget, these amounts must be written off from the credit of account 19 to the debit of account 91-2 subaccount “Other expenses”.

Amounts of “input” VAT that have already been deducted must be written off from the credit of account 19 to the debit of account 68 of the “VAT Calculations” subaccount. Understanding that it is not possible to recover “input” VAT from the budget, these amounts are written off from the credit of account 19 to the debit of account 91-2 subaccount “Other expenses”.

In the absence of VAT payer status, a company or when it has been released from its duties as a tax payer under Art. 145 of the Tax Code of the Russian Federation, the amount of “input” tax must be included in the cost of purchased goods (work, services).

We do the same in the case of purchasing products for transactions that are not subject to VAT in accordance with clauses 2 and 4 of Art. 170 Tax Code of the Russian Federation. At this point, we write off VAT from account 19 to the debit of the property accounting accounts that correspond to it or from the cost accounting account (accounts 08, 10, 20, 26, 41, 44, etc.)

“Input” VAT, when it relates to expenses, which in turn are standardized for the purposes of determining income tax (advertising expenses, entertainment expenses), must be deducted in the part that relates to expenses within these standards.

When preparing annual reporting, when the total amount of normalized expenses in tax accounting has already been calculated, the amount of VAT not accepted for deduction, if they relate to excess expenses, must be written off from account 19 to the debit of account 91 “Other income and expenses.”

It should be taken into account that amounts in tax accounting are not included in expenses.

In tax accounting, we do not consider the amount of “input” VAT when it is not included in the cost of acquired property (work, services) and is not accepted, and is written off in accounting to account 91.

Lines 230 and 240 “Accounts receivable”.

This line is for filling and displaying the actions between the buyer and the customer. It takes into account the debts that the company will receive within 12 months (line 230) and the debt of debtors for a period of more than 12 months after the reporting date (line 240). This is the debit balance of accounts 62 “Settlements with buyers and customers” and 76 “Settlements with various debtors and creditors”.

When a company has a claim against a customer, the debt must be recorded as an asset. Despite the fact that the limitation period begins after 3 years and if a statement about it is expressed in a dispute before the court makes a decision (Article 196 of the Civil Code of the Russian Federation), the debtor can fulfill his obligations even after the established period. It is possible to issue an order to write off such debt if there is a claim in court, a written refusal of the debtor and his exclusion from the register.

This operation is done by wiring:

1. DEBIT 91-2 “Other expenses”.
2. LOAN 62 “Settlements with buyers and customers” – the amount of debt is reflected.
3. The debtor's debt written off at a loss is recorded for another five years in off-balance sheet account 007 “Debt of insolvent debtors written off at a loss.”

If there is a high probability of non-repayment of the debt, you need to create a reserve for doubtful debts by writing:

1. DEBIT 91-2 “Other expenses”.
2. LOAN 63 “Provisions for doubtful debts” - for the amount of debt, indicating the reason in the explanatory note.

Line 250 “Short-term financial investments.”

Financial investments, the accounting of which is regulated by PBU 19/02, include securities, contributions to the authorized (share) capital of other organizations, loans provided, deposits, receivables acquired under an assignment of claim, contributions under a simple partnership agreement, etc.

Financial investments are considered short-term if their maturity does not exceed 12 months.

It should be taken into account that organizations do not include their own shares purchased from shareholders for subsequent resale or cancellation as part of short-term financial investments. Own repurchased shares are reflected in the liability side of the balance sheet on line 411 of the “Capital and Reserves” section.

Line 260 “Cash”.

The entire amount of funds (in cash, in bank accounts, in transfers) that the organization has is indicated here.

In the standard form there are no separate lines for deciphering line 260, but an enterprise can include the necessary lines in the balance sheet and separately indicate in them data on the availability of funds.

Cash in foreign currency accounts (line 263) is converted into rubles at the Bank of Russia exchange rate on the date of the currency transaction, as well as on the reporting date. This is stated in paragraph 7 of the Accounting Regulations “Accounting for assets and liabilities, the value of which is expressed in foreign currency” (PBU 3/2006), approved by Order of the Ministry of Finance of Russia dated November 27, 2006 No. 154n (hereinafter referred to as PBU 3/2006) .

Line 300 “Balance”.

Line 300 of the balance sheet initially reflects the amount of all assets of the organization - both non-current and current. The indicator of line 300 is formed as the sum of lines 190 “Total for section I” and 290 “Total for section I”.

It should be noted that the total amount of the organization's assets, reflected on line 300 of the balance sheet asset, must be equal to the total amount of the organization's liabilities - the indicator of line 700 of the balance sheet liability.

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