Lecture plan (2 hours)

2. Structure and structure of the balance sheet

The purpose of the lecture: To study and know the role and importance of the balance sheet, its structure and structure; the relationship between the construction of the balance sheet and the classification of economic assets; the procedure for grouping assets and liabilities by sections of the balance sheet; information content of the balance sheet and its analytical properties; the concept of the types of changes in balance sheet items under the influence of business transactions.

Key words: Balance sheet, assets, capital, liabilities, liabilities, fixed assets, intangible assets, receivables, financial investments, financial liabilities, accounts payable, share premium, authorized capital, retained earnings, reserves.

1. Essence and meaning of the balance sheet

For the implementation of economic activities, the subject has various objects (money, equipment, raw materials, etc.).

Objects (economic assets) in accounting are taken into account in two ways:

- by composition and functional role (assets);

- according to the sources of their formation (liabilities and capital - liabilities).

Investments - assets that the entity owns in order to receive income in the form of dividends, interest or capital gains.

financial investments - These are investments in stocks, bonds and other securities, as well as in bank deposits.

Receivables - these are the funds of the enterprise, temporarily at the disposal of other organizations or individuals.

Debtor is a debtor of an enterprise that has received an advance for some purpose or has not paid any invoices for goods delivered or services rendered.

Current tax assets - these are amounts overpaid to the budget for taxes and subject to reimbursement.

fixed assets - these are tangible assets that operate for a long period of time (more than one year) and are used by a company for the production or supply of goods and services, for leasing to other companies, or for administrative purposes (buildings, structures, equipment, vehicles, land plots and etc.).

Intangible assets – these are assets that do not have a natural physical form, but are endowed with "intangible value" and, because of this, bring additional income to the subject for a long time or constantly (trademarks, computer software, etc.).

biological assets - these are assets associated with agricultural activities, i.e. plants and animals.

According to the sources of asset formation, sources of own funds are distinguished ( equity ) and sources of borrowings ( borrowed capital, i.e. obligations ).

Equity are the entity's assets after deducting its liabilities.
Equity capital includes: authorized capital, share premium, retained earnings, reserve capital.

Authorized capital is formed at the expense of contributions of depositors in the form of cash, equipment, vehicles and other means.
Authorized capital - this is the start-up capital that an economic entity needs for production activities in order to receive further income.

Unpaid Capital - this is the debt of the founders for contributions to the authorized capital.

Share premium - this is the income received as a result of the excess of the sale price of shares over its nominal price at the time of issue and issue of shares into circulation.

Undestributed profits is the financial result of the company's activities for a certain period.

Reserves. The source of formation of reserve capital is retained earnings.

Sometimes the creation of a reserve is required by constituent documents or legislative acts. The reserve capital is used to cover losses, to accrue dividends on preferred shares, to buy back own shares.

Commitments - this is the obligation of a person (debtor) to perform certain actions in favor of another person (creditor), such as: transfer property, perform work, pay money, etc.

The entity's obligation arises from past events and should result in an outflow of resources embodying economic benefits.
Liabilities are long-term and short-term (current).

financial liability - this is an obligation stipulated by the contract: to provide funds to another organization (bank loans received, accounts payable on accrued dividends, financial lease obligations, etc.).

Accounts payable - the debt of this enterprise to other enterprises or individuals (creditors).

Accounts payable include debts to suppliers and contractors, as well as debts on advances received, on promissory notes issued, deferred income. Accounts payable also include obligations to pay employees.

Thousands of business transactions are carried out daily at enterprises. At the same time, economic means and their sources are constantly moving and changing.

In order to manage the enterprise, to control the safety and efficiency of the use of the enterprise's funds, information is needed on the composition and size of its funds, the amount of its capital and liabilities for a certain period, on a certain date. Such information is obtained using one of the elements of the accounting method - the balance sheet.

Balance sheet - this is an accounting method that allows in monetary form and on a certain date to reflect the state of the resources of an economic entity and the sources of their formation.

The term "balance" comes from the Latin words: "bis" - "twice" and "lanx" - "scales" and literally means equality, characterized by two scales in balance.

Graphically, the balance is a table divided into two parts: the first reflects the funds owned by the organization (assets); in the second - the sources of formation of these funds - liabilities (capital and liabilities).

Based on this, the balance equation formula is as follows:

ASSETS = EQUITY + LIABILITIES

Those. In order to carry out business activities, an enterprise needs funds, and these funds must be given to the enterprise by someone. The funds owned by the enterprise are called assets. Part of these assets is provided by the owner, founder. The total amount of funds contributed by him is called capital. If the owner is the only one who contributed funds, then the equation A = K (assets equals capital) will be fair. However, assets can also be contributed by someone else who is not the owner. The company's debt for these assets is called liabilities. Now the equation will take the following form: A = K + O (assets equal capital plus liabilities). The left and right sides of the equation are always equal, because the total size of economic assets is always equal to the source of their formation.

The balance sheet provides information about the nature and amount of investment in the company's resources, liabilities and capital at a certain point in time. The balance sheet provides the basis for calculating the rate of return, assessing the capital structure, assessing the liquidity and financial flexibility of the enterprise.

2. Structure and structure of the balance sheet.

The main elements of the balance sheet are:

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

Ø obligations is a present obligation of the entity arising from past events, the settlement of which will result in an outflow from the entity of resources embodying economic benefits;

Ø capital is the percentage of the organization's assets remaining after deducting all of its liabilities.

In international practice, the balance sheet can have horizontal and vertical forms, or the so-called accounting and reporting formats of the balance sheet.

a) Appearance of the horizontal balance sheet (accounting)

b) Appearance of the balance of the vertical form (reporting)

3. Elements of financial reporting: Assets, liabilities, capital, income, expenses

In accordance with the Law of the Republic of Kazakhstan “On Accounting and Financial Reporting” (Chapter 3, Article 13), the elements of financial reporting are:

item 1. The elements of financial statements related to the assessment of financial position are assets, liabilities and equity.

Assets are resources controlled by an individual entrepreneur or organization as a result of past events from which future economic benefits are expected.

A liability is a present obligation of an individual entrepreneur or entity arising from past events, the settlement of which will result in an outflow of resources embodying economic benefits.

Capital - the share in the assets of an individual entrepreneur or organization that remains after deducting all liabilities.

item 2. The items directly related to the performance measurements in the income statement are income and expenses.

Income is an increase in economic benefits during an accounting period in the form of an inflow or increase in assets or a decrease in liabilities that results in an increase in equity, other than an increase associated with contributions from equity participants.

Expenses are decreases in economic benefits during an accounting period in the form of an outflow or decrease of assets or incurrence of liabilities that result in a decrease in equity, other than a decrease related to distributions to equity participants.

4. Change in balance under the influence of business transactions and their characteristics

As a result of the economic activity of the subject, various business transactions occur that affect various economic means. As a result of these operations, there is a decrease in some funds and an increase in others, or a simultaneous increase or decrease in two or more funds.

There are the following types of business transactions:

Ø First type business transactions leads to a change in asset items with a constant balance sheet currency.

ΣA + O - O = ΣP,

where Σ is the amount, A is an asset, P is a liability, O is a transaction

For example:

1) Cash in the amount of 40,000 tenge was received from the current bank account to the cash desk.

This operation affects two balance items: Cash on the current account and cash on hand. At the same time, the amount of money in the cash register increases by 40,000 tenge. Cash on the current account is reduced by 40,000 tenge.

Ø Second type business transactions leads to a change in liability items with a constant balance sheet.

ΣA = ΣP + O - O

For example:

2) A reserve in the amount of 300,000 tenge was created at the expense of the entity's retained earnings.

At the same time, the item "Retained earnings" is reduced by 300,000 tenge, the item "Reserve capital" will increase by 300,000 tenge.

Ø Third type business transactions causes changes in the items of assets and liabilities in the direction of increase with the equality of the balance sheet, i.e. the asset and liability of the balance sheet increases by the same amount.

ΣA + O = ΣP + O

For example:

3) Received goods from suppliers in the amount of 50,000 tenge.

At the same time, the item in the asset balance increases. “Goods” by 50,000 tenge, in liabilities, accounts payable increase by the amount specified in the operation.

Therefore, both sides of the balance sheet increase by the same amount.

Ø Fourth type a business transaction causes changes in the items of the asset and liability in the direction of decrease if the balance sheet currency is equal, i.e. the asset and liability of the balance sheet decreases by the same amount.

ΣA - O = ΣP - O

For example:

4) KZT 90,000 was transferred from the current bank account to various creditors to repay the previously formed debt.

At the same time, the item “Cash on current bank accounts” decreases in the asset by 9,000 tenge, and in liabilities, accounts payable decreases by 9,000 tenge.

5. Users of financial statements

Users of financial statements fall into two main groups:

1) internal;

2) external.

In turn, external users are divided into users with a direct financial interest, and users with an indirect financial interest. The classification of users is shown in Figure 1.

Figure 1. Users of financial statements

balance sheet equation) - a formula according to which the sum of assets of a corporation must exactly equal the sum of liabilities and equity.

Great Definition

Incomplete definition ↓

balance equation

a generalized record that allows you to compare the property of the enterprise (its assets) with the sources of its formation (owner's capital and liabilities), calculated in value terms on a certain date. Combines the economic content of accounting (what is taken into account) and its legal aspect (who has ownership rights to the property of the enterprise). There are several forms of B.U. recording: assets = liabilities g shareholders' equity; assets - liabilities = shareholders' equity; assets - shareholders' equity = liabilities. A bank is a commercial institution that attracts funds from legal entities and individuals and places them on its own behalf on the terms of repayment, payment and urgency, and also carries out settlement, commission-intermediary and other operations.

(Balance Sheet Equation) - a formalized expression of the relationship between the backbone elements of the balance sheet. balance sheet the equation connects the main sections of the balance sheet, sets its format and thereby explains the logic of its presentation in the form of a reporting form. In principle, such equations several, especially when it comes to an analytical balance sheet, which means some transformation of the original (i.e. reporting) balance sheet, performed for analytical purposes, but the main balance equations three. The balance sheet is the main information source that characterizes the company as a participant in economic relations. The fate of the firm depends on several groups of persons who have an actual and (or) potential interest in it (or in it). In this context, three main groups can be distinguished: (a) owners, (b) investors, (c) managers and contractors.
Owners. This group includes liia that ensure the existence of the company as a legal entity, since formally the owners have the right to decide on the liquidation of the company. They provide the firm with the initial capital necessary for its establishment, make decisions regarding the withdrawal of part of the income received, attracting long-term external investors, etc. The balance sheet, built on the basis of the interests of the owners, is designed to demonstrate the change in their capital, i.e. their interest in the firm's assets. Thus, the balance sheet shows the capital of the owners, numerically equal to the net assets in the accounting estimate.
In this case balance equation
balance sheet the equation
A - LTL - STL = E, (B1)
where A is the sum of the firm's assets;
LTL - long-term liabilities of the firm;
STL - short-term liabilities of the firm;
E - the capital of the owners.
The table shows an enlarged balance sheet format in a horizontal representation. Corresponding to him balance sheet equation-
BALANCE POINT Asset Liabilities Firm Assets (A) Funds Raised (LTL + STL) (subtracted) Owner's Equity Balance (Total Net Assets) Balance (Total Owners' Equity)
neither is the main one, for example, in British accounting, while a vertical balance sheet is used, and the key articles that determine its structure are as follows.
Balance layout
(vertical view)
Item Amount
company vision. The balance sheet, built on the basis of the interests of investors, is designed to demonstrate the change in their total capital, i.e. this is a demonstration of the strength of the company in a strategic aspect (meaning the following circumstance: the funds of investors are deadened in the company for a long period, i.e. in the amount of resources provided by them, it will exist for a long time; as for short-term obligations, they are opportunistic in nature , and their value is determined by the technological features of the production and commercial activities of the company and the policy of its management personnel in relation to short-term assets and liabilities). In this case balance equation and the balance sheet format as a possible reporting form in the enlarged structure of articles is as follows.
balance sheet the equation
4"
51
I-t-?+t. (B2)
BALANCE SHEET Asset Liabilities Firm's non-current assets (LTA) Current assets (STA) Current liabilities (STL) (subtracted)
Net current assets (NCA = = STA - STL) Owner's equity (E) Long-term liabilities (N) Balance sheet (total assets minus short-term liabilities) (LTA + NCA) Balance sheet (total long-term sources) (E + 1ЛЪ)
In fairness, we note that for the purposes of reporting, the format given by balance equation(B2), not applicable; such balances are used mainly in financial analysis.
Managers and contractors. The most common in international accounting practice is the balance sheet, in which all the assets, capital and liabilities of the company are presented in expanded form. Such a format allows one to get a fairly complete picture of the company's generating capabilities, on the one hand, and the structure of sources of financing.
of its activities, on the other. This is a demonstration of the combined power of the firm's assets and capital (in the broadest sense of the word) managed by its top managers. This is precisely what explains the fact that such a format is aimed primarily at the actual and potential managers and counterparties of the company, i.e. on those on whom the stability and routine (in the good sense of the word) of current activities depend. balance sheet the equation and the balance sheet format as a reporting form in the enlarged structure of articles are as follows.
balance sheet the equation
A \u003d E + [LCH + YAP. (BZ)
BALANCE LINE Asset Liabilities Non-current assets of the firm (LTA) Current assets (STA) Owner's equity (E) Long-term liabilities (LTL) Short-term liabilities (STL) Balance sheet (total assets) (A = LTA + STA) Balance sheet (total sources of financing) (E + LTL + STL)
It is appropriate to make the following remark. The balance sheet is based on a system of accounts, operations on which are reflected according to the double entry principle, and the logic of reporting in general and the balance sheet in particular is such that various options for grouping and regrouping accounting and reporting data are acceptable. Therefore, by manipulating the composition of articles and their inclusion or non-inclusion in one or another section of the balance sheet, you can get formats with different balance equations, at the same time, it is obvious that all these formats are interconnected through a system of accounts and therefore differ from each other only in groupings.

Guidelines

on term paper

"Accounting and 1C Accounting"

for students of groups ME 61,62 and EM 61.

Department of Mathematical Economics

The main goal of the course work on the course “Accounting and 1-C Accounting” is not so much to master the skills of maintaining accounting records and compiling reporting documentation, but to understand the financial and economic information that is recorded by accounting, with the aim of mathematical modeling of the processes of economic activity of the enterprise.

The guidelines consist of two parts. The first part provides basic information regarding the structure of the company's balance sheet, income statement, and also provides the main indicators for the analysis of accounting information. The second part is devoted to the analysis of the course work.

Part 1. Basic information.

1.1. Balance sheet. balance equation.

1.2. Gains and losses report.

1.3. Analysis of the financial condition of the enterprise.

Part 2. Instructions for completing the course work.

2.1. The essence of the course work.

2.2. An example of the first task.

2.3. An example of the second task.

Basic information.

Balance sheet. balance equation

The formation of balance sheets is one of the most important tasks of accounting. Balance generalization of information makes it possible to reveal the financial and property status of an economic entity. This is achieved by dual grouping the objects of accounting supervision:

· according to their functional role in the process of production, economic and financial activities (the economic content of the balance equation);

· according to the sources of formation of the property of the economic unit (legal approach).

Balance sheets are designed to reflect the financial position of an economic entity at specific points in time: the date the organization was created; beginning and end of the reporting period; dates of interim financial statements; in cases of bankruptcy, liquidation, reorganization, for making managerial decisions and simply when the need arises.

The basis of the information accounting system of any reporting or interim period is the incoming balance sheet. Subsequent facts of economic life change the indicators of the balance sheet. Accounting identifies, evaluates, classifies and registers business transactions in accordance with generally accepted principles, reflects and accumulates them in accounting systems, brings them together to draw up new balance sheets.

The balance sheet can be compared to a snapshot of the financial state of the enterprise, which reflects two images of equal size:

What does the company have?

What are the sources of this property.

When constructing balance sheets, the following principles should be taken into account:

Monetary expression- the indicators are given in a single monetary meter, which generalizes the objects of accounting supervision into a homogeneous information model.

Separate property - the balance sheet refers to the enterprise, and not to persons associated with it (owners, creditors, debtors, etc.); the asset includes property owned by the enterprise on the right of ownership or under full control.

Continuity - the period of time during which the enterprise will exist is unknown, its liquidation is not planned.

Cost accounting - assets are shown in the balance sheet at the amounts paid or to be paid for their acquisition (historical cost) and not at current market prices.

Dualities - the concept of duality is evident from the fact that the assets on the left side of the balance sheet are equal to the total amount of equity and borrowings on the right side of the balance sheet.

The balance sheet as an element of the accounting method crowns the procedure for processing accounting data, generalizing them into an information model of the financial condition of an economic entity. The information of this model, presented in the form of reporting indicators of balance lines of the main form of financial reporting, is a significant source in assessing the functioning of an economic unit, its production, economic and financial activities aimed at improving or developing the entire enterprise management system. Based on the data presented in the balance sheet, interested users have the opportunity to study the availability, allocation and use of resources, solvency and financial stability of organizations and thus satisfy information needs. (See clause 1.3.)

The main element of the balance sheet (the unit of information reflected in it) is the balance sheet item (line). The balance sheet item corresponds to an indicator that characterizes certain types of economic resources (assets) and sources of their formation (owner's capital and borrowed capital or liabilities).

In Russian accounting, the balance is built on the basis of the duality equation (Assets = Capital + Liabilities).

Balance sheet items are combined into groups. The basis of such a union is the economic content of the balance sheet items. Vertical interconnections of the balance sheet asset items suggest their location in order of liquidity level. At the beginning, less liquid items are reflected, such as intangible assets, fixed assets, capital investments, etc., and at the end, the most liquid ones (money on hand, on current and foreign currency accounts, etc.).

Liabilities of the balance sheet, like an asset, are grouped according to the principle of increasing urgency for the return of obligations. It begins with the basis of the enterprise with own funds owners invested in the enterprise - authorized capital. This liability item, also called the financial resources of the enterprise, is the most stable. The authorized capital of the enterprise is considered to be formed when the participants or shareholders make their contributions, its value can only be changed by decision of the owners along with a change in the founding and statutory documents of the enterprise. The size of the authorized capital of an enterprise is the basis of its market stability, and in order to protect the interests of third parties doing business with this enterprise, this basis should not be undermined.

Share capital is followed by less stable equity items, then liabilities due in more than a year, and culminating in a balance sheet liability with short-term loans and payables, items that can change values ​​and share in the total balance sheet currency in a very short time.

Vertical interconnections of the balance sheet assets items influence the arrangement of the balance sheet liabilities items. This is facilitated by the horizontal relationship of the balance sheet items of the asset and liability. For example, fixed assets are acquired from sources of own funds or long-term liabilities, and current liabilities are used mainly to replenish the current assets of an economic entity.

The figure shows the horizontal relationship between the individual sections of the balance sheet.

Section I Chapter III

Non-current assets Capital and reserves

Section IV

long term duties

Section II Chapter V

Current assets Current liabilities

Characteristics of asset items

The process of generating balance data includes a large number of accounting works of the most diverse nature. Preparatory work includes an inventory and adjustment of balances on accounting accounts, clarification of the value of property and liabilities, formation of funds and reserves provided for by the accounting policy or current regulations, clarification of income and expenses between estimated reporting periods, identification of the final financial result of the organization’s work and reformation of the balance sheet, drawing up a turnover sheet, which should include all corrective entries (corrected entries for the operations of the reporting year are corrected by reversal, for operations of previous years, except for the reversal entry, the amount of profit is adjusted). All of the above procedures should be carried out only when forming the annual balance sheet. Periodic balance sheets are compiled on the basis of current accounting book data.

Form No. 1 is compiled at the end of the reporting period, is a synthesis of the opening balance sheet for accounts opened during the year on the basis of entries in accounting accounts, which should cover the economic process completely and correctly reflect financial and economic activities based on the relationship between economic phenomena ( which is expressed in the correct correspondence of accounts).

Since the final balance sheet is formed by its result of financial and economic processes, individual transactions and economic phenomena, the basis for its compilation is the data of accounting registers: the general ledger, turnover sheet, order journals, auxiliary statements. Based on these registers, the General Ledger is filled in, where the credit turnover of the account is shown as a total amount and is taken from the data of the corresponding order journal, and the debit turnover is given in the context of a number of accounts and can be collected from a number of order journals. Based on these turnovers and the balances of the previous period, the balances at the end of the period are calculated. These balances (balances), after reconciliation with the data of the registers of analytical and synthetic accounting, are used to form the data of Form No. 1. At small enterprises that keep records in a simplified form, the Book of Accounting for Business Transactions is used to draw up a balance sheet. Accounting registers can exist in the form of a computer database, and the accounting information processing programs that comply with the accounting rules make it possible to avoid routine work and balance data are formed as the correspondence of accounts and amounts is entered into standard forms of primary documents.

All articles of form No. 1 are shown in the time section: column 3 - “At the beginning of the year”; column 4 - “At the end of the period (year, quarter). The balance sheet data at the beginning of the year are identical to the closing balance sheet data of the previous reporting period (Due to the implementation of the continuity requirement) and are formed in a similar way.

Based on the principle of building a balance in the sequence of increasing liquidity of assets and mobility of liabilities, the asset of form No. 1 opens with the section “Non-current assets”, which includes property and rights that are different in nature. They were combined in one section due to their belonging to the least liquid assets.

The subsection “Intangible assets” reflects the cost of non-traditional objects that do not have a natural-material form, but have the ability to generate income. A feature of these objects is the ability to use them for a long-term period (more than one year), as well as a high degree of uncertainty in the amount of profit possible from their use. This kind of property includes the value of intellectual property and various kinds of rights (patents, licenses, rights to use various resources, organizational expenses, software products, etc.).

It is reflected in the balance sheet minus the accrued depreciation (according to the net valuation rule). The cost of intangible assets with the help of depreciation is related to the cost of production and distribution costs (for assets of trading and intermediary organizations). Depreciation is calculated evenly and monthly, based on the term of the return items of the object, the rate of monthly depreciation is calculated, if the useful return period cannot be determined, it is taken equal to ten years, the rate of deductions is determined as the quotient of dividing the initial cost of the object without VAT and the number of months of useful life . For objects of intangible assets, the value of which does not decrease with the deduction of time, depreciation is not charged (Organizational expenses, trademarks, service marks, etc.). For completely worn-out objects, depreciation is terminated.

The "Fixed Assets" subsection displays data on fixed assets, both operating and being mothballed. Such objects include: buildings, structures, equipment, household equipment, etc.

Fixed assets repeatedly participate in the production process and represent the cost of long-term investments. Like intangible assets, fixed assets are reflected in the balance sheet at their residual value, i.e. according to the actual costs of their acquisition, construction minus the depreciation accrued on them. A change in the initial cost is allowed in cases of: reconstruction, modification, additional equipment, partial liquidation, etc.

It should be noted that fixed assets include only objects whose value exceeds one hundred times the minimum wage. Depreciation on a number of fixed assets is not charged. Such objects include: objects of housing stock, external improvement received free of charge, objects whose consumer properties do not change over time, etc.

Objects whose value is not depreciated include land and natural resources. In the balance sheet, fixed assets are reflected at their residual value and are located in lines 120;121;122 (The indicator of line 120 is calculated as the sum of the indicators of lines 121 and 122). The indicator of line 120 can be determined from the data of the General Ledger as the difference between the sum of the balances on the accounts "Fixed assets" and "Profitable investments in tangible assets" and the balance on the account "Depreciation of fixed assets".

The subsection “Construction in progress” includes only one balance line, which reflects the balances of funds on the accounts “Equipment for installation”, “Capital investments”, “Settlements on advances issued”.

Under this item, the enterprise reflects the cost of construction in progress in the form of an excess of capital investment costs over the cost of objects put into operation, the amount of advances issued in connection with the implementation of capital investments, etc. This article also reflects interest on a loan received by an organization for the purpose of acquiring fixed assets before they are put into operation, tax on the purchase of vehicles, expenses for the delivery of equipment installation, and other costs.

The subsection “Long-term financial investments” includes the following items: “investments in subsidiaries”, “investments in dependent companies”, “investments in other organizations”, “loans granted to other organizations for a period of more than 12 months”.

These items show investments in conditional capital of other organizations, in securities of the state and legal entities, as well as various kinds of loans granted for a period of more than a year.

The source of information when filling in the balance sheet items is the General Ledger for the accounts “Long-term financial investments” and “Estimated reserves”, the latter in the part of the sub-account “Reserve for depreciation of investments in securities.

The section "Non-current assets" completes the article "Other non-current assets", which takes into account property that is not reflected in other articles of the section.

After filling in all the articles of the section at the beginning and end of the year, using the appropriate sources of information (analytical accounting data, synthetic accounting registers), you should find the total amount of non-current assets of the enterprise. To reflect it, there is an article “Total for section I” The indicator of this article, located in the balance sheet on line 190, is the sum of the indicators of all subsections and individual articles of the section “Non-current assets” at the beginning (column 3) and end (column 4) of the year accordingly, thus, the indicator of line 190 is calculated by calculation, as the sum of the data on lines 110; 120; 130; 140; 150.

The next section of the asset of the balance sheet is the section "Current assets". Here is the property in circulation, i.e. in the process of economic activity, changing its natural-material form and regularly turning into cash. The process of turnover of funds goes in two directions, on the other hand, property with a low degree of liquidity acquires it in the process of circulation, on the other hand, the funds of an enterprise with absolute liquidity take the form of reserves.

Section II of the balance sheet includes the following subsections: “Inventory”, “Value Added Tax on Acquired Values”, “Accounts Receivable for which payments are expected more than 12 months after the reporting date”; “Accounts receivable for which payments are expected within 12 months after the reporting date”, “Short-term financial investments”; "Debit Funds"; "Other current assets".

In the “Inventory” subsection, the enterprise reflects the remains of raw materials, various kinds of materials, household equipment, work in progress, finished products, goods, etc. A subsection opens with the article “raw materials and other similar values”, which reflects the material values ​​recorded on the accounts: “Materials”, “Procurement and purchase of materials”. "Deviation in the cost of materials" "Low-value and wearing items"; "Depreciation of the MBP".

The amount of balances for this article of the balance sheet depends on the method of writing off the actual cost selected when forming the accounting policy. Materials of the same type can be purchased at different prices, as a result, the balances will be accounted for at different prices, it is necessary to determine the cost of the remaining materials after writing off some of them to production. There are three methods for determining: at the cost of first-time purchases (FIFO); by cost of last purchases (LIFO); at an average cost. When using the LIFO method, the balances are valued at the cost of the first acquisitions, which, in an environment of increasing material prices, leads to a decrease in profits and an underestimation of the value of inventories. With the FIFO method, the balances are evaluated satisfactorily to the requirement of reality.

In the next article of the Inventory subsection, the organization reflects the balance of low-value and wearing items. This kind of property includes household and production equipment, various kinds of low-value items that play the role of means of labor, however, due to their properties, they are included in working capital. Low-value and wear-and-tear items include items that serve less than one year (regardless of cost) and cost less than 100 times the minimum wage on the date of purchase. Enterprises and organizations are given the right to set a lower cost limit.

Agricultural machinery, working and productive livestock cannot be classified as low-value and fast-wearing items (IBE).

The next article of the subsection is the article "Costs in work in progress". In it, the enterprise reflects the costs accounted for by the cost accounts: “Main production”, “Auxiliary production”, “Semi-finished products of own production”, “Completed stages of work in progress”, “Non-capital work”. In addition, this balance sheet item also reflects distribution costs (for organizations engaged in trading and intermediary activities).

The item "Finished products and goods for resale" reflects the cost of products that have completed their production cycle, as well as goods purchased for the purpose of resale.

Goods sold on commission are reflected in the Goods shipped account and are not reflected in this balance sheet item. Goods accepted for commission are not reflected in the balance sheet at all.

It should be added that finished products consumed at the enterprise itself for production needs cannot be accounted for under this balance sheet item, they are accounted for in the accounts of materials, IBE, semi-finished products, etc.

In line (216) of the balance sheet is the article "Goods shipped". In it, the organization reflects the cost of goods and products shipped to customers, but until the transfer of ownership owned by the enterprise. (Products and goods are accounted for under this article of form No. 1 until the purchase and sale transaction is completed with the relevant documents).

The next item in the balance sheet is the item "Deferred expenses", which reflects the amount of expenses incurred by the organization in the reporting period, but payable in the following reporting years during the period to which they relate.

Deferred expenses can also include: expenses for the preparation and development of production, rental payments for subsequent periods of time, expenses for the repair of fixed assets if the organization does not create a repair fund, subscription to periodicals, expenses for training and education of specialists.

The next subsection of working capital is the article “Value Added Tax on Acquired Values”.

It reflects the amount of value added tax (VAT) on acquired material assets and excises on excisable goods. In invoices of suppliers, VAT amounts are separately allocated, which are subject to debit to account 19 “Value Added Tax on Acquired Values” in the context of the relevant sub-accounts (VAT on purchased IBEs, VAT on materials, VAT on works and services, etc. )

The subsection "Reserves" completes the article "other reserves and costs". This article reflects stocks and costs that are not reflected in other articles of the subsection. Part of the selling expenses related to the balance of unshipped products and unsold goods may be reflected here.

The next two subsections of working capital reflect the amount of receivables of the enterprise (organization), which is recorded on the accounts of settlements.

The vast majority of receivables are debts of buyers and customers for finished products and goods. Thus, the funds of the enterprise, frozen in settlements, represent a commercial loan that facilitates the process of forming its reserves and costs for the counterparty enterprise.

In the balance sheet, the amount of property in the calculations is presented in two subsections: “Accounts receivable, payments on which are expected more than 12 months after the reporting date” and “Accounts receivable, payments on which are expected within 12 months after the reporting date”.

The first article of the subsections is the article "buyers and customers", which reflects the cost of shipped goods, work performed and services rendered, under the contract until payment by the buyer or customer.

The next article of subsections reflects the debt of buyers and customers, secured by the received bills.

Line 273 contains the article “debt of subsidiaries and affiliates”. It reflects the state of interbalance settlements between the parent company and dependent subsidiaries. The state of calculations can be either active or passive. The asset balance reflects the balance of the debt of subsidiaries (dependent) companies, the prevailing, the main company.

As part of short-term receivables, there is an article, "indebtedness of participants (institutions) for contributions to the authorized capital." It shows the status of settlements with the founders.

Account 75 “Settlements with the founders also reflects the accrual of dividends to third parties (the source is retained earnings), therefore, if the account has a credit balance, then this amount of debt is taken into account in the balance sheet liability as part of accounts payable.

The next article of subsections of receivables is the article "Advances issued". In modern economic conditions, counterparties of enterprises sometimes require advances and prepayments for products, goods, works or services, both for the entire amount of the transaction, and in part.

This article of sections can be filled out on the basis of analytical data on the status of both subsections of receivables or in the absence of any of its types.

The receivables sections end with "Other Debtors". In accordance with the rules for constructing a balance sheet, debts to the enterprise from various legal entities and individuals, government agencies that are not reflected in other articles of the subsection are reflected here. For example, it may reflect the amount of debt on claims, the balance of settlements with the budget in case of overpayment of taxes, as well as the balance in settlements on extra-budgetary payments, the debt to the enterprise of employees who received loans, the debt to accountable persons for the amounts issued to them.

The next subdivision of current assets is the group of articles “Short-term financial investments. It shows investments made by the organization for a period of not more than a year. The items Investments in Associated Companies reflect the amounts invested by organizations in balance sheet investments.

The subsection of short-term investments is completed by the article “Other short-term financial investments”. This may include investments of the enterprise in securities of various elements, loans provided by the enterprise to construction organizations.

The total amount of funds in the “Short-term financial investments” subsection, in accordance with the construction of the balance sheet structure, can be found arithmetically by simply adding the sums of the balances for all items of the subsection (This is true for other subsections of any part of the balance sheet).

The next subsection of working capital is the group of articles “Cash”, which reflects property that most often has absolute liquidity, i.e., in the form of the currency of the Russian Federation, in addition, less liquid property is also presented here, such as foreign currency.

According to the article "cash desk" of the enterprise. Organizations reflect the amount of money, the accounting of which is kept on account 50 "Cashier".

Under the article "settlement accounts" the amount is reflected in account 51 "Settlement account". The debit of this account reflects the receipt of funds, the credit - write-off.

The next article of the subsection - "Currency accounts" reflects the amount of funds in foreign currency, the accounting of which is kept on account 52 "Currency account".

The item “Other funds” reflects the funds held on special accounts with banks in the form of monetary documents and the amount of transfers in transit. Accounting for funds of special accounts is kept on account 55 "Special accounts in banks". It shows the movement of funds in the domestic currency, which are in the form of various payment documents (letters of credit, checks, other payment documents, except bills of exchange).

The last subsection of section II "Current assets" is the article "Other current assets". It reflects the working capital of enterprises and organizations that are not reflected in other articles of the section.

After filling in all the articles of the section, it is necessary to calculate the total amount of funds invested by the organization in working capital. In the line "total for section II" it is necessary to add up all the sums of subsections and individual articles that act as subsections. Thus, the indicator of line 270 is found arithmetically and represents the amount of funds in lines 210, 220, 230, 240, 250, 260, 270. (The total amount of the section is reflected in line 290)

After filling in the articles of all sections of the balance sheet asset, its total should be summed up, which will be the total value of the organization's property, provided there are no losses. To reflect the total of form No. 1 or the balance sheet, the line “Balance” is intended, the indicator of which is the general total of the main reporting form and is subtracted as the sum of the indicators of the section of form No. 1.

Section 1.

Topic 1.2 "Balance sheet, its structure and significance"

"Balance sheet, its structure and meaning"

Developed

based

work program

by academic discipline

"Accounting in

catering"

teacher

Sheffer-Gruzd E.V.

1. Essence of balance generalization and its role in accounting.

2. The concept of the balance sheet, its content and structure.

3. Purpose, requirements for the preparation of the balance sheet. Classification of balance sheets.

4. Composition of the Asset and Liabilities of the balance sheet. Content and evaluation of balance sheet items.

5. Types of business transactions and their impact on the balance sheet.

The essence of balance generalization and its role in

accounting.

One of the main methods of understanding the subject of accounting is the generalization of data using the balance sheet.

Balance sheet - This is an accounting method that represents the economic grouping of property according to the composition and location and sources of its formation as of a certain reporting date in monetary terms.

The term "balance" comes from two Latin words bis - "twice" and lanh - "scales", i.e. bilanh literally means "two bowls" in the sense of equality, balance. Thus, any economic balance represents two systems of indicators, between which there is a complete correspondence.

The balance sheet contains important methodological prerequisites that determine the entire accounting methodology and the principle of double entry underlying it. The balance sheet is the central form of accounting and is built in accordance with the classification of accounting objects. It is a table consisting of two equal parts: one reflects the funds by composition and placement - assets, and in the other - according to the sources of formation - passive. The totals for the asset and liability of the balance sheet are called balance sheet currency. The balance sheet is built on the basis of the balance sheet, which is expressed in the equality of the results of its two parts - assets and liabilities. A prerequisite for the preparation of the balance sheet is the division of assets and liabilities into short-term and long-term.

The concepts of "asset" and "passive", like most accounting terms, are of Latin origin. "Active" - ​​means active (to act), therefore asset is understood grouping of property (funds) of an economic entity, which shows how it functions, acts. "Passive" means inactive (refrain, explain), so passive used to indicate the obligations of an economic entity for its property.

Balance generalization information is widely used in accounting and analysis of financial and economic activities to justify and make appropriate management decisions, the orientation of an economic entity in a market economy.

Balance generalization is characterized by the dual nature of the reflection of objects and the generalization of information (the principle of duality is the fundamental concept of accounting).

The dual nature of reflection lies in the fact that objects are shown in the balance twice and are considered from two points of view, in two aspects, which depend on the type of balance. The two aspects of the balance generalization mean that the two sets of balance sheet indicators must be equal.

Balance generalization implies a synthetic, generalized nature of information, which makes it possible to reduce particular indicators and individual information relationships in a single meter into an integral system of generalized data.

In accounting theory, there are several types of balance sheet generalizations:

· basic balance equation (static balance), which has the following form:

Active = Passive.

In the presented equation assets- the total property of an economic entity, and liability- the sum of sources of formation of property or the sum of external obligations of an economic entity and obligations to the owner. In this equation, capital is not a balancing item, it is treated as a rubric of liabilities;

· capital balance equation, as follows:

Asset - Liabilities = Equity.

This equation proceeds from the fact that the right of ownership of property is of decisive importance in the financial stability of an economic entity; If liabilities are classified by ownership, then two components can be distinguished: equity capital and liabilities to external creditors. Any increase in the property of an economic entity (net property, which refers to the total increase in property capable of generating income, and not just a change in the proportions of the ratio of the constituent parts of the property) causes an increase in the corresponding parts of the liability - either external liabilities or equity. Thus, the capital balance equation reflects the principle of change in net property: if its increase is caused by an increase in external liabilities, capital will not change, otherwise there will be an increase in capital. The effective increase in property is associated, first of all, with the increase in the profit of an economic entity. The capital balance equation also has another meaning: any increase in the net assets of an economic entity leads to an increase in capital (in the form of an increase in profit), any decrease leads to its decrease (in the form of a loss, which is reflected as a counter-item to capital);

· dynamic balance equation can be presented in this form:

Income - Expenses = Profit,

Profit = Capital Gain =

Credit balance on capital accounts at the end of the period -