There are simple ways to identify errors in financial statements. Checking the correctness of the balance sheet How to check the correctness of the balance sheet

Primers 05.02.2024

Primers

The accounting balance sheet - you will find an example of how to fill it out in the article - is not only a document for reporting to the Federal Tax Service, it is also a source of data for analyzing the current activities of the enterprise and making forecasts. How to fill out a balance sheet without errors? Which form should I use? Which companies are entitled to fill out a simplified balance sheet form? We will consider the answers to these and other questions in the material below, and also study the step-by-step instructions for filling out each line of the form using an example.

Why do you need a completed balance sheet: example

The 2018 balance sheet is a document that summarizes accounting data on the financial performance of an organization for a certain period. Despite the fact that the 2018 balance sheet form that is relevant for the Russian Federation - you can download the form for free directly from the article - is filled in with data for very specific dates, a comparison of these data reflects their dynamics over time.

A competent reading of the 2018 balance sheet form provides fairly broad information of an economic nature to the interested user. These users include primarily:

owners of the organization;
financial and economic service of the enterprise;
Inspectorate of the Federal Tax Service;
state statistics bodies;
banks from which the company receives loans;
investors;
sponsors;
counterparties with whom current interaction is carried out;
administrations of the regions where the enterprise operates.

The 2018 balance sheet, as well as the 2017 balance sheet, allows you to see not only the specific financial and economic situation at the reporting date, but also analyze its changes in comparison with data for previous years. And taking into account long-term development plans, it makes it possible to draw up a forecast of the enterprise’s activities and, accordingly, a forecast balance sheet.

For external users, as a rule, it is enough to present the balance sheet on the 2018 form with a certain frequency (month, quarter, year). They may be satisfied with the standard reporting form, which is used to submit a report to the Federal Tax Service and state statistics bodies, but options for transforming the data into other reporting forms similar to the 2018 balance sheet are possible.

For internal purposes, the main of which is the current analysis of activities and timely adoption of measures to adjust the operation of the enterprise, the balance sheet - Form 1 on the 2018 form - can be compiled at any frequency and in a very wide range of its types.

Thus, the value of the balance sheet goes very far beyond the boundaries of the usual accounting records created for the Federal Tax Service. Therefore, special attention should be paid to filling it out and knowing how to draw up a balance sheet correctly.

Forms in which it is possible to create a balance sheet

To be presented as official reporting, the balance sheet has a specific form. For the internal needs of an organization, it can have many modifications depending on the purpose and the type of data for its compilation:

data can be taken either on specific dates (balance sheet) or by turnover for a period (turnover balance);
the source data can be either only accounting, or only inventory, or accounting that is confirmed by inventory results;
data can be taken into account either with the inclusion of regulatory items (depreciation, reserves, markup) or without them;
the balance sheet can be drawn up in relation to only one of the types of activities of the enterprise;
the balance sheet can have either a full or an abbreviated (simplified) form;
the balance sheet can be drawn up in the form of equality between assets and the sum of capital and liabilities, or it can take the form of equality between capital and the difference between assets and liabilities;
the balance sheet can be made for one organization or include data for several enterprises (consolidated and consolidated balance sheets);
in relation to the event, there may be opening, liquidation, separation, and unification balance sheets;
the balance can be preliminary, forecast, interim, final.

And this is not a complete list of possible options for drawing up a balance sheet for an organization to solve its internal problems. However, the fundamental approaches to filling out this form remain the same regardless of the way the source data is reflected in it.

How to draw up a balance sheet - 2018 for the Federal Tax Service: rules and techniques

The full form of the balance sheet contains the entire list of items that are recommended to be highlighted in the appropriate sections of the balance sheet. However, an enterprise may exclude items from this report for which it does not have the data to fill out, and, conversely, include additional items if this increases the reliability of the reports being compiled.

The full form has a box to display notes for each article. The enterprise decides for itself whether it needs to use this column. Obviously, it becomes necessary for any deviation from the standard recommended form.

In the abbreviated (simplified) form, which can be used by some legal entities that meet certain requirements if they consider it possible to present reporting in a simplified form, there is no division into sections and a column for notes, and the articles are combined in order to consolidate the indicators.

Read about which legal entities can create accounting records in a simplified form.

How to fill out a balance sheet? The basic rules governing the procedure for drawing up the 2018 balance sheet for official reporting purposes are contained in PBU 4/99, approved by Order of the Ministry of Finance of the Russian Federation dated July 6, 1999 No. 43n. They boil down to the following:

the source of information for drawing up the balance sheet is accounting data;
accounting data must be generated according to the rules of the current accounting regulations and in accordance with the accounting policies adopted by the enterprise;

Read about the features of accounting policies when applying the simplified tax system in the article “Procedure for maintaining accounting records under the simplified tax system (2018)” .

credentials must meet the requirements of completeness and reliability;
an enterprise that has branches draws up a single balance sheet for the organization;
data reflected in the balance sheet must be neutral and correlated with data from previous periods;
the allocation of items in sections of the balance sheet is carried out according to the principle of materiality;
the reporting period for the balance sheet is a calendar year;
assets and liabilities reflected in the balance sheet should be divided into short-term and long-term (existing less than and more than 12 months, respectively);
offset between items of assets and liabilities is not made if it is not provided for by the PBU;
property is valued at its “net” value (less regulatory items);
The accounting data of the annual report must be confirmed by the inventory.

Read more about organizing inventory in the material. “How to conduct an inventory before annual reporting” .

What does the abbreviation TZR (decoding) and others mean?

TZR - transport and procurement costs.
OS - fixed assets.
R&D - research and development work.
Intangible assets - intangible assets.
WIP - work in progress.
FBP - deferred expenses.
Commodities and materials - inventory items.
FSS - social insurance fund.

General rules for filling out the balance sheet

The balance sheet is filled out on the basis of information about the balances in the accounting accounts as of the reporting date. These balances are reflected in the balance sheet in accordance with the objectives assigned to a specific report.

How to make a balance sheet - step-by-step instructions with examples will be given below . In relation to data on the financial result (retained earnings/uncovered loss), the current balance sheet is prepared, as a rule, by including in the reporting period the full number of months of the year for which it is formed. This is due to the fact that financial results accounts are generally closed on a monthly basis.

Data in the balance sheet are most often shown in thousands, less often in millions of rubles.

The division of assets and liabilities into long-term and short-term is provided for by the structure of the balance sheet. In his assets, 2 sections are allocated for this: non-current assets (long-term) and current assets (short-term). The liability is divided into three sections, two of which are sections on obligations, divided by the time of circulation (long-term and short-term). The third liability section reflects data on equity, which occupies a special position in the structure of the balance sheet.

Reflecting information on specific balance lines has its own characteristics. Let's figure out what is important when filling out a balance sheet - an example with decoding:

data on the cost of fixed assets (including those intended for rental) and intangible assets are shown, as a rule, minus depreciation;
information on R&D, tangible and intangible exploration assets is filled in only if such assets are available, while exploration assets are reflected net of depreciation;
data on financial investments, which are loans issued, cash investments in banks (deposits), deposits in other organizations, in securities, are divided depending on their maturity into long-term and short-term and are shown, respectively, in different sections of the asset, while amounts are reflected less the created reserve for impairment of financial investments;
information on deferred tax assets and liabilities present in the asset (non-current assets) and liability (long-term liabilities) lines of the balance sheet is filled out only by those organizations that apply PBU 18/02;
data on inventories, including balances on accounts for materials (with inventory items), goods, finished products, work in progress, RBP, are reduced by the amount of created reserves for depreciation of goods and materials and the value of the trade margin, if goods are accounted for with it;
accounts receivable and payable, which are amounts that someone owes the company and that the company owes to someone (counterparties, budget, funds, employees), are shown in detail and are reflected, respectively, in the assets and liabilities of the balance sheet as part of short-term liabilities; in this case, accounts receivable are reduced by the amount of created reserves for doubtful debts and data recorded on other balance sheet lines (financial investments);
VAT on advances may be reflected in the balance sheet differently, depending on the accounting policy adopted by the enterprise;

funds (cash, non-cash, foreign currency) are shown in the total amount minus deposits accounted for in the lines of financial investments;
the amount of additional capital, if present in accounting, is divided into two lines, depending on whether it is related to the revaluation of property;
the financial result (retained profit or uncovered loss) in the annual balance sheet represents the result of activities for a finite number of years (after the balance sheet reform), and in interim reporting it consists of two figures (the financial result of previous years and the financial result of the current period), regardless depending on the reporting period, it may be a negative value;

data on borrowed funds are divided into long-term and short-term liabilities according to the remaining period of their repayment and are shown in different sections of liabilities, while accrued interest on long-term loans is included in short-term debt;
in a similar manner, depending on the remaining period of use, estimated liabilities are divided into long-term and short-term liabilities reflected in different sections of liabilities, which correspond to the amounts of created reserves for future expenses;
data on future income additionally includes information on the amounts of targeted financing;
all sections of the balance sheet, with the exception of the “Capital and Reserves” section, have a line for reflecting other assets or liabilities, intended for entering into it data that does not find a place in other lines of the corresponding section, or for those data that the organization decided to show separately.

When compiling an abbreviated (simplified) form of the balance sheet, a number of items highlighted in the full form are combined into items with new names:

under the article “Tangible non-current assets”, one amount shows information about fixed assets and incomplete capital investments, which in the full form of the balance sheet is divided into 4 articles: “Intangible exploration assets”, “Tangible exploration assets”, “Fixed assets”, “Profitable investments in assets” ";
the article “Intangible, financial and other non-current assets” combines data on the value of intangible assets, R&D, unfinished investments in intangible assets, information on long-term financial investments and deferred tax assets;
the article “Financial and other current assets” together provides information on short-term financial investments, VAT on acquired assets and accounts receivable;
the article “Capital and reserves” combines information on authorized, additional and reserve capital, purchased own shares, data on the revaluation of property and on retained earnings (uncovered loss);
the item “Other long-term liabilities” jointly shows data on deferred tax liabilities and long-term provisions;
in the article “Other short-term liabilities,” one amount shows data on future income and short-term estimated liabilities.

Balance sheet: how to fill out item by item

To fill out balance sheet items, data on balances formed as of the reporting date is taken from specific accounting accounts. In relation to the current version of the accounting chart of accounts, approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n, when filling out the full form of the 2018 balance sheet - which can be downloaded for free in our article - the balances on the following accounts are used:

for the article “Intangible assets” - the final balance on account 04 minus the total on account 05, while for account 04 the data included in the line “Results of research and development” is not taken into account, and for account 05 - figures related to intangible exploration assets ;
for the article “Results of research and development”, data on R&D costs reflected in the balance on account 04 is selected;
for the articles “Intangible exploration assets” and “Tangible exploration assets”, data on the costs of developing natural resources is taken from account 08 minus depreciation related to these assets, taken into account, respectively, on accounts 02 and 05;
for the item “Fixed assets”, the data is determined as the difference between the balances of accounts 01 and 02 (account 02 does not take into account figures related to material exploration assets and profitable investments in tangible assets), to which is added the amount of capital investment costs recorded in the accounts 07 and 08 (except for the figures included in the lines “Intangible search assets” and “Tangible search assets”);
for the article “Profitable investments in assets”, the difference between the balances of accounts 03 and 02 in relation to the same objects is taken;
for the item “Financial investments” in non-current assets, data on long-term amounts (with a maturity of more than 12 months) in accounts 55 (for deposits), 58, 73 (for loans issued to employees) is selected, which are reduced by the amount of reserves for long-term investments (count 59);
for the item “Deferred tax assets”, the balance of account 09 is taken;
for the item “Inventories”, the amount is formed by adding the balances on accounts 10, 11 (both accounts minus the reserve recorded on account 14), 15, 16, 20, 21, 23, 28, 29, 41 (minus account 42, if accounting of goods is carried out with a markup), 43, 44, 45, 46, 97;
for the article “Value added tax on acquired assets”, the balance of account 19 is taken;
for the item “Receivables”, the debit balances on accounts 60, 62 (both accounts minus the reserves formed on account 63), 66, 67, 68, 69, 70, 71, 73 (minus the data recorded under the item “Financial attachments"), 75, 76;
for the article “Financial investments (except for cash equivalents)” in current assets, data on short-term amounts (with a maturity of less than 12 months) in accounts 55 (for deposits), 58, 73 (for loans issued to employees) are selected, which are reduced for the amount of reserves for short-term investments (account 59);
for the item "" the amount is obtained by adding the balances on accounts 50, 51, 52, 55 (except for deposits), 57;

for the article “Authorized capital (share capital, authorized capital, contributions of partners)” the data is taken as the balance of account 80;
for the item “Own shares purchased from shareholders”, the balance of account 81 is taken;
for the article “Revaluation of non-current assets”, data on balances on account 83 related to fixed assets and intangible assets are selected.
for the item “Additional capital (without revaluation)” the data is formed as balances on account 83 minus data related to fixed assets and intangible assets;
for the item “Reserve capital”, the balance of account 82 is taken;
for the article “Retained earnings (uncovered loss),” the annual balance sheet includes the balance of account 84, and when preparing interim reporting, two balances are added up: account 84 (financial result of previous years) and 99 (financial result of the current period of the reporting year), with In this case, the sum can be formed both by addition and by subtraction;
for the item “Borrowed funds” in the section “Long-term liabilities”, long-term (with a remaining maturity of more than 12 months) debt on loans and borrowings is selected from the balances on account 67, while interest on long-term borrowed funds must be taken into account as part of short-term accounts payable;
for the item "" the balance of account 77 is taken;
for the item “Estimated liabilities” in the section “Long-term liabilities”, from the balances on account 96, data on long-term reserves, the period of use of which exceeds 12 months, is selected;
for the item “Borrowed funds” in the section “Short-term liabilities”, the balances on account 66, interest on long-term borrowed funds taken into account in the balances on account 67, and that debt on long-term loans and borrowings (account 67), which at the time of drawing up the report became short-term (less than 12 months left until its maturity);
for the item “Accounts payable”, credit balances on accounts 60, 62, 68, 69, 70, 71, 73, 75, 76 are summed up;
for the item “Deferred income”, the balances of accounts 86 and 98 are added up;
for the item “Estimated Liabilities” in the “Short-Term Liabilities” section, from the balances on account 96, data on short-term reserves, the useful life of which is less than 12 months, is selected.

To fill out the combined items of the reduced balance sheet, the balances on the following accounts are used:

for the article “Tangible non-current assets”, the sum of the balances on accounts 01 and 03 minus the balance on account 02 is determined, which is then added to the balances on accounts 07 and 08, which are classified as non-current assets;
for the article “Intangible, financial and other non-current assets”, the difference in balances on accounts 04 and 05 is summed up with data on long-term amounts on accounts 55 (for deposits), 58, 73 (for loans issued to employees), reduced by the amount of reserves for long-term investments (account 59), with the balance of account 09 and with data on unfinished investments in intangible assets and R&D reflected in account 08;
for the article “Financial and other current assets”, data on accounts 19, 55 (less long-term deposits), 58 (on short-term investments) is combined with a decrease in the amount of reserves related to them (account 59), 60, 62 (both accounts less reserves formed on account 63), 66, 67, 68, 69, 70, 71, 73 (less amounts of long-term loans), 75, 76;
for the item “Capital and reserves” the total amount of balances on accounts 80, 81, 82, 83, 84 is determined;
for the item “Other long-term liabilities”, the balances of accounts 77 and 96 are combined (in relation to reserves with a period of use of more than 12 months);
for the item “Other short-term liabilities” the balances on accounts 86, 96 (in relation to short-term reserves) and 98 are summed up.

The items “Inventories”, “Cash and cash equivalents”, “Long-term borrowed funds”, “Short-term borrowed funds”, “Accounts payable” are filled out according to the same accounts as similar items in the full balance sheet.

Balance sheet: example of filling out the general form

An example of a balance sheet completed by specialists is of interest to many accountants, both beginners and experienced, especially if a complex situation arises.

Examples of balance sheets with entered indicators can be seen on the websites of almost all reference and legal systems. In addition, an example of a balance sheet can be a form filled out automatically by an accounting program. However, Form 1 - Balance Sheet for 2018 completed in this way requires its verification. To carry out such a check and correctly configure its completion in the program, you need to understand the entire mechanism for generating the balance sheet.

Let's look at how to draw up an accounting balance sheet using the example of accounting data for which the financial result is formed after carrying out the necessary regulatory operations and reforming the balance sheet.

Let's assume that we are talking about an organization engaged in manufacturing and wholesale trade. The features of her credentials are due to the fact that she:

has OS and intangible assets;
makes capital investments;
has financial investments;
creates reserves for depreciation of goods and materials and financial investments, reserves for doubtful debts;
creates a reserve for vacation payments;
takes loans from banks;
reimburses VAT;
receives reimbursement of expenses for sick leave from the Social Insurance Fund;
applies PBU 18/02;
has a profit for previous years;
has a loss based on the results of work for the current year.

We will display its accounting data as of the reporting date in the form of a table with a breakdown by accounting accounts in relation to the current version of the chart of accounts, approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n.

The table will contain detailed data on debit and credit balances, which, for ease of presentation, are not broken down by subaccount and rounded to the nearest thousand rubles without decimal places.

Account number	Debit balance	Credit balance	Note
			Fixed assets
			Depreciation of fixed assets
			Intangible assets
			Depreciation of intangible assets
			Capital investments
			Deferred tax assets
			Material reserves
			Provision for impairment of inventories
			VAT on purchased assets
			Unfinished production

			Selling expenses
			Cash in current accounts
			Special accounts. 100 - long-term deposit
			Financial investments. Of these, 107 are long-term, 207 are short-term
			Provisions for impairment of financial investments. Of these, 20 are long-term, 42 are short-term
			By credit - debt to suppliers, by debit - advances transferred to them
			By debit - debt from customers, by credit - advances received from them
			Provision for doubtful accounts receivable
			Short-term loans with interest on them. For debit 18 - overpayment of interest
			Long-term loans with interest on them. Of these, 2,342 - with a remaining maturity of more than 12 months, 505 - with a remaining maturity of less than 12 months, 157 - interest on all long-term loans
			Calculations with the budget. On debit - overpayment of taxes and the amount of VAT to be reimbursed, on credit - debt to the budget
			Calculations for insurance premiums. On debit - overpayment on them and the amount of compensation from the Social Insurance Fund, on credit - arrears in contributions
			Payments to personnel regarding wages. Debt to employees
			Calculations with accountable persons. By debit - amounts issued on account, by credit - debt to accountable persons according to advance reports
			Settlements with personnel for other operations. 150 - short-term loan issued to an employee
			Settlements with other debtors and creditors. On debit - interest on loans issued and VAT on advances received, on credit - debt on customer claims and deposited wages
			Deferred tax liabilities
			Authorized capital
			Reserve capital
			retained earnings
			Reserves for upcoming expenses. 972 - reserve for payment of vacations with a period of use of less than 12 months
			Future expenses

The balance sheet of an enterprise, filled out as an example of the 2018 sample, will look like this.

Balance sheet sections	Amount at the reporting date

I. NON-CURRENT ASSETS
Intangible assets
Fixed assets
Financial investments		55 + 58 (long-term) - 59 (long-term)
Deferred tax assets
Total for Section I
II. CURRENT ASSETS
		10 - 14 + 20 + 41 + 44 + 97
Value added tax
Accounts receivable		60 + 62 - 63 + 66 + 68 + 69 + 71 + 76
Financial investments		58 (short-term) - 59 (short-term) + 73
Cash and cash equivalents
Total for Section II


III. CAPITAL AND RESERVES
Authorized capital
Reserve capital
retained earnings
Total for Section III
IV. LONG TERM DUTIES
Borrowed funds
Deferred tax liabilities
Total for Section IV
V. SHORT-TERM LIABILITIES
Borrowed funds
Accounts payable
Estimated liabilities
Total for Section V

The correctness of filling out the balance sheet form 1 on the 2018 form can be checked arithmetically. This can be done in two ways: from the total of debit balances and from the total of credit balances.

When checking in the first way, from the total amount of debit balances on accounting accounts, it is necessary to subtract the values related to regulatory items (depreciation, provisions for impairment), i.e. credit balances on accounts 02, 05, 14, 59, 63. The result should be equal to the balance sheet asset total.

A similar formula is used when checking in the second way: the values of regulatory items are subtracted from the total amount of credit balances on the accounting accounts (credit balances on the same accounts 02, 05, 14, 59, 63). The result should be equal to the total liabilities of the balance sheet.

Let's check: 23,963 - 1,017 - 57 - 101 - 62 - 1,115 = 21,611.

If the above accounting data related to interim reporting, then their only difference would be the presence of data on account 99 (due to the absence of balance sheet reformation performed only at the close of the year). In our example of the balance sheet before the reformation, account 99 had a loss of 70,000 rubles. (i.e., debit balance), and account 84 showed the profit of previous years in the amount of 309,000 rubles, which had not yet been reduced by the loss of the reporting year. In this case, the amount in the balance sheet would remain arithmetically the same, but the data on the line “Retained earnings” would be taken as the difference between the figures reflected in accounts 84 and 99. The total amounts of debit and credit balances in this case would be greater by the amount of the loss, and in the verification formulas the amount of loss would have to be additionally subtracted from them.

The balance sheet form 1 on a 2018 sample form, filled out automatically in an accounting program, must be checked. To do this, its figures are verified with data obtained from the consolidated balance sheet for the accounting accounts generated as of the reporting date. To select data on the analytics of property, financial investments, loans, additional capital, reserves, balance sheets for the corresponding accounting accounts are used. The greatest difficulty is checking the correctness of the formation of detailed balances on accounts for settlements with counterparties. Here you will have to sum up both the balances of individual accounts and the debt of specific counterparties.

Balance sheet: example of filling out a simplified form

The balance sheet of an enterprise, filled out using the 2018 example in a simplified form, will be as follows.

Balance Sheet Lines	Amount at the reporting date	Formula for calculating the amount based on the accounting account numbers from which the balance values are taken

Tangible non-current assets
Intangible, financial and other non-current assets		04 - 05 + 09 + 55 + 58 (long-term) - 59 (long-term)
		10 - 14 + 20 + 41 + 44 + 97
Cash and cash equivalents
Financial and other current assets		19 + 58 (short-term) - 59 (short-term) + 60 + 62 - 63 + 66 + 68 + 69 + 71 + 73 + 76


Capital and reserves
Long-term borrowed funds		67 (loans with a remaining maturity of more than 12 months)
Other long-term liabilities
Short-term borrowed funds		66 + 67 (loans with remaining maturity less than 12 months) + 67 (interest on all long-term loans)
Accounts payable		60 + 62 + 68 + 69 +70 + 71 + 76
Other current liabilities

To be submitted to state statistics authorities, balance sheet lines must be encoded in a separate column of the report. The codes used in full form are given in Appendix 4 to the order of the Ministry of Finance of the Russian Federation dated July 2, 2010 No. 66n.

In the abbreviated form of the balance sheet - the 2018 form can be downloaded for free below - the combined lines must contain the code of the indicator that makes up the majority of the amount in this indicator.

If previously the balance sheet of the organization was presented to the Federal Tax Service in full, and then a decision was made to form it in an abbreviated form, then the data for previous years must be transformed into a simplified form, preserving their original values and in compliance with the rules for reflection in simplified reporting.

The balance sheet drawn up in accordance with the form approved by Order of the Ministry of Finance of the Russian Federation dated July 2, 2010 No. 66n, must contain, in addition to reporting data, data as of the end of the two previous years. Data from previous years must coincide with official reporting figures for these years.

You can download the full form of the balance sheet for free from our article “Company balance sheet form (download)” .

Before filling out the text section in the balance sheet located above the main balance sheet table, we recommend paying attention to 3 things:

the type of economic activity is indicated by the type of activity that brought the largest amount of revenue in the reporting period;
codes related to the organization are taken from the tax registration certificate, a letter from the state statistics body about the codes and reference books of the relevant codes;
a specific unit (thousands or millions of rubles) with its corresponding code must be indicated as a unit of measurement.

To learn how to make a simplified balance sheet, read the article “We are preparing a balance sheet for the simplified tax system in 2017-2018” .

Results

The preparation of a balance sheet is subject to a number of rules established both for all accounting in general and specifically for the balance sheet. The balance required for submission to the Federal Tax Service is created on the prescribed form. However, some organizations have the right to draw it up in a simplified form.

Elena Titova,

expert of the Legal Consulting Service GARANT, member of the Chamber of Tax Consultants

Before sending annual accounting (financial) statements, the organization must check the completeness and correctness of its completion. It is at this final stage of verification that there is still an opportunity to identify possible inconsistencies and promptly eliminate detected errors. The procedure for testing reporting can be established by the organization independently.

Verification criteria:

1. Compliance with the general requirements for accounting (financial) reporting established by Law No. 402-FZ and PBU 4/99.

2. Completeness of information in reporting.

The availability of all forms of financial statements established by law is checked.

Particular attention must be paid to those lines in the reporting in which dashes were added in an automated way. In this case, you should make sure that the organization really did not carry out transactions that resulted in such “crossed out” indicators.

3. Reliability of reporting.

False information in reporting can lead to the most dire consequences. Meanwhile, the concept of reliability is not defined by law. From an auditing point of view, this concept is understood as such a degree of accuracy of accounting data that allows users to draw correct conclusions on its basis about the performance of economic entities and make decisions based on these conclusions.

Validity testing tasks include:

– checking the correctness of the financial statements (filling in all the necessary details, the presence of the signature of the head of the organization or another person to whom such powers have been transferred on the basis of a power of attorney);

– checking the comparability of the indicators of previous reporting periods reflected in the columns “As of 12/31/2014”, “As of 12/31/2013” with the reporting data of previous years. Differences would indicate that the entity either corrected errors from previous years or changed its accounting policies. But in this case, the difference should be reflected in section 2 of the Capital Statement;

– checking the compliance of indicators of all forms of financial statements;

– checking the compliance of indicators in accounting and tax reporting.

Interrelation of accounting and tax reporting indicators

In some cases, the correctness of the formation of financial reporting data can be checked by comparing them with indicators in tax returns.

For example, an income tax return can be reconciled not only with the income statement and cash flow statement, but also with the balance sheet.

This method of verification will allow timely identification of discrepancies between individual indicators of tax and accounting reporting, making the necessary corrections (if these discrepancies are recognized as erroneous), which in the future will eliminate explanations with the tax inspectorate and the need to submit updated declarations.

Reconciliation of reporting indicators is also carried out by tax authorities.

For this purpose, there are special control ratios, which until recently were classified proprietary information. Currently, the “DSP” stamp has been removed and all taxpayers can use the ratios. The Federal Tax Service of Russia sends updated control ratios by open letters and posts them on its official website (Federal Tax Service of Russia dated March 23, 2015 No. ГД-4-3/4550@).

If discrepancies are identified between individual indicators of tax returns and the data of reporting forms, the tax authority may require an explanation of the reasons for such discrepancies (Tax Code of the Russian Federation). Moreover, in some cases, such discrepancies may become the basis for conducting an in-depth desk audit or for including the organization in the list of applicants for an on-site audit (Federal Tax Service of Russia dated July 17, 2013 No. AS-4-2/12722@).

In order for users of the GARANT system to be able to methodically and consistently check reports before sending, experts from the Garant company have prepared tables for interrelating indicators - a good help at the final stage of verification.

You will find interconnection tables in the following materials in the Encyclopedia of Solutions. Accounting and reporting":

Interrelation of accounting and tax reporting indicators;

Interrelation of indicators of the Balance Sheet and the Statement of Financial Results;

Interrelation of indicators of the Balance Sheet and the Cash Flow Statement;

Interrelation of indicators of the Balance Sheet and the Statement of Changes in Capital;

Interrelation of indicators of the Balance Sheet and Explanations to the Balance Sheet and the Statement of Financial Results;

Interrelation of indicators of the Statement of Financial Results and the Statement of Changes in Equity.

To find these materials in the GARANT system, enter in the Basic search line: interconnection of indicators.

No instructions. However, this does not mean that this important form of reporting can be compiled by an accountant arbitrarily based on his own understanding. Not at all. The contents of the balance sheet are established in Section. IV PBU 4/99 “Accounting statements of an organization” (Approved by Order of the Ministry of Finance of Russia dated July 6, 1999 N 43n).

In addition, it is necessary to take into account the requirements of other accounting provisions that in one way or another affect balance sheet indicators. The most obvious illustration is clause 29 of PBU 2/2008 “Accounting for construction contracts” (Approved by Order of the Ministry of Finance of Russia dated October 24, 2008 N 116n).
It states that the difference between the amount of accrued revenue not presented for payment, which is recognized in the income statement for previous and/or current reporting periods, and the amount of accrued revenue on interim invoices presented for payment reflected fully in the balance sheet organizations:

as an asset - accrued revenue not presented for payment (if the difference is positive);
as a liability - debt to customers (if the difference is negative).

Agree, failure to comply with this requirement for a detailed reflection of the named indicator will make the balance unreliable.
Also a good help for an accountant are the recommendations issued annually by the main financial department of the country to audit organizations, individual auditors, and auditors on conducting an annual audit for the corresponding year.

For your information. These recommendations are communicated to interested parties by a letter from the Ministry of Finance, which is assigned the same number every year - N 07-02-18/01, which makes it easy to find the document, including for all previous years. These letters are dated late January and usually appear on the Ministry of Finance website in early February of the following year, which gives the accountant the opportunity to take into account the position of financiers when preparing annual financial statements.

Since at the time of preparation of this article there are no fresh recommendations, we will rely on Letter of the Ministry of Finance of Russia dated January 27, 2012 N 07-02-18/01, which contains Recommendations for audit organizations, individual auditors, auditors for conducting an audit of the annual financial statements of organizations for 2011 year (hereinafter referred to as the Recommendations). And we advise our readers not to miss or ignore the updated version of the financial department’s recommendations for reporting for 2012.

About the balance sheet form

It is known that Order of the Ministry of Finance of Russia N 66n (Order of the Ministry of Finance of Russia dated July 2, 2010 N 66n “On forms of financial statements of organizations”) approved two forms of balance sheet - general and simplified. (The second can only be used by small businesses.) The main difference between these forms is that the balance sheet of “little ones” includes indicators only for groups of items (without detailing the indicators for items) (paragraph “a”, paragraph 6 of Order of the Ministry of Finance of Russia N 66n ). Accordingly, the principles for drawing up general and simplified forms of balance sheets differ significantly, so we will consider them separately.

As noted above, it was established in Sect. IV PBU 4/99. Note that this document, despite its considerable age, is still used for the purposes of preparing financial statements, as evidenced, among other things, by recent clarifications from the competent department (see Information of the Ministry of Finance of Russia N PZ-10/2012 “On entry into force with January 1, 2013 Federal Law of December 6, 2011 N 402-FZ “On Accounting”).

Note! In the future the situation will change. The point here is this. Subclause 6, clause 3, art. 21 of the Federal Law of December 6, 2011 N 402-FZ “On Accounting” stipulates that composition, content and procedure for generating information disclosed in the accounting (financial) statements, including sample forms accounting (financial) statements, as well as the composition of appendices to the balance sheet and financial results statement and the composition of appendices to the balance sheet and report on the intended use of funds are established by federal standards. However, in accordance with Part 1 of Art. 30 of the said Law, until the state accounting regulatory authorities approve federal standards, the rules of accounting and preparation of financial statements approved before the entry into force of this Law are applied, which once again indicates the legitimacy of the provisions enshrined in Section. IV PBU 4/99, at the moment.

Note. It is the new Law on Accounting that must be followed when preparing reports, because Federal Law No. 129-FZ dated November 21, 1996 “On Accounting” has become invalid since January 1, 2013.

So, Sect. IV PBU 4/99 consists of three paragraphs - from 18 to 20. The first two contain the well-known phrases that the balance sheet should characterize the financial position of the organization as of the reporting date (clause 18). Assets and liabilities must be presented in it with a division depending on the maturity period into short-term and long-term. Assets and liabilities are presented as short-term if their maturity (maturity) period is no more than 12 months after the reporting date or the duration of the operating cycle, if it exceeds 12 months. All other assets and liabilities are presented as long-term (clause 19). Paragraph 20 is interesting in that it indicates what numerical indicators must contain a balance sheet. For example, as part of the group of articles “Intangible assets” it is prescribed to separate into separate articles:

rights to intellectual (industrial) property;
patents, licenses, trademarks, service marks, and other similar rights and assets;
organizational expenses;
business reputation of the organization.

In the group of articles “Fixed assets” the following should be reflected separately:

land plots and environmental management facilities;
buildings, machinery, equipment and other fixed assets;
Construction in progress.

The section of the balance sheet “Current assets” provides the following breakdown of indicators (since in the article we will repeatedly refer to this fragment of the balance sheet, we will agree that in the future it will be called the Table):

Group of articles
	Raw materials, supplies and other similar assets
	Costs in work in progress (costs appeals)
	Finished goods, goods for resale and goods shipped
	Future expenses
Added tax cost by acquired values
Accounts receivable debt	Buyers and clients
	Bills receivable
	Debt of subsidiaries and dependent companies
	Debt of participants (founders) on deposits in the authorized capital
	Advances issued
	Other debtors
Financial investments	Loans provided to organizations for a period of less than 12 months
	Own shares purchased from shareholders
	Other financial investments
Cash	Current accounts
	Currency accounts
	Other cash

Even without considering the liability, we understand that the balance sheet form given in Order of the Ministry of Finance of Russia N 66n does not provide this detail. How to be? In any case, should I enter the missing listed lines into the balance sheet myself? No, you don't need to do that. But this approach to the formation of a balance sheet, when only those lines that are presented in the form recommended by the Ministry of Finance are filled in, is also incorrect.

For your information. In the hierarchy of documents regulating accounting, PBUs occupy a higher place than orders of the Ministry of Finance. Therefore, in principle, the priority is the norms of PBU 4/99, and not the Order of the Ministry of Finance of Russia N 66n. However, PBU 4/99 does not meet the requirements of the time, and officials, as often happens, did not get around to updating it. Therefore, the Ministry of Finance currently recommends using a compromise option - drawing up a balance sheet on the form introduced by Order N 66n, and, if necessary, including additional lines to reflect significant indicators. In this case, for the purpose of detail, it is necessary to be guided by clause 20 of PBU 4/99.

In accordance with clause 3 of Order of the Ministry of Finance of Russia N 66n organizations independently determine the detail of indicators for balance sheet items. What does this mean? The answer is simple: when detailing indicators for balance sheet items, the accountant must proceed from level of materiality established in the accounting policy of the organization for 2012. Thus, if a particular indicator is considered significant, the accountant must enter an additional line into the balance sheet to reflect it separately.

The same conclusion follows from clause 11 of PBU 4/99, according to which indicators on individual assets, liabilities, income, expenses and business transactions should be presented separately in the financial statements if they are material and if without knowledge of them by interested users it is impossible to assess the financial position of the organization or the financial results of its activities. If each of these indicators individually is insignificant, then they can be presented in reporting forms as a total amount.

What to follow when determining the details and names of balance sheet indicators? According to the Ministry of Finance, expressed in the Recommendations, in this case it is advisable to proceed from:

the essence of the reflected asset;
the nature and conditions of the organization’s activities;
the need to present objective and useful information in the financial statements (in particular, so that the meaning of the name of the indicator is clear to the user of the financial statements).

The last of these conditions again brings us back to the level of materiality established by the organization.

Level of materiality of balance sheet indicators

In the previously in force Order of the Ministry of Finance of Russia dated July 22, 2003 N 67n “On Forms of Accounting Reports of Organizations” it was established that an enterprise can make a decision when an amount is considered significant, the ratio of which to the total of the relevant data for the reporting year is at least 5%. Currently, the recommended five percent materiality barrier is not fixed in regulatory documents, but an organization can either continue to rely on the said five percent limit or change it either up or down. There are no restrictions. The solution to this issue is left to the accountant. However, the accounting policy should not only indicate that the materiality level is 5%, but also determine from what value this 5% is calculated.

The easiest way to establish is that the materiality limit is calculated based on the balance sheet currency. But along with simplicity and universality, this option has an obvious drawback - it will not allow presenting in the balance sheet those indicators that, based on the nature of the asset (liability) and the nature and conditions of the organization’s activities, are important (for users of the statements), but have a small specific weight relative to the currency balance.

Note. These are the first two of the conditions named by the Ministry of Finance, which must be taken into account when determining the detail and name of the balance sheet indicators (see above).

Note. Significant indicators about certain types of assets and liabilities must be separated from the corresponding group of items into separate items (lines) of the balance sheet.

If an organization is interested in making the balance sheet more informative, the materiality level should be set as a percentage of the total for the corresponding section of the balance sheet or even the value presented for each line. Moreover, the lower the level of materiality, the more meaningful the balance sheet is. However, in pursuit of the goal of ensuring the completeness of the information presented in the balance sheet, there is no need to overload the balance sheet with unnecessary information, because there are also explanations that provide a breakdown of the balance sheet indicators. In other words, when filling out a balance sheet, you need to find that golden mean that, on the one hand, will allow information that is important for users of the statements to be reflected in separate lines, and on the other hand, will not lead to the transformation of the balance sheet into some kind of turnover sheet containing everything, even the most insignificant , account balances.

Note. This possibility is confirmed by clause 18.1 of PBU 9/99 “Income of the organization”, approved. Order of the Ministry of Finance of Russia dated May 6, 1999 N 32n, according to which in the profit and loss statement (financial result statement) revenue, other income (revenue from the sale of products (goods), revenue from the performance of work (rendering services), etc.) items) constituting five or more percent of the organization’s total income for the reporting period are shown for each type separately. Accordingly, information about the organization’s expenses is reflected separately.

Example 1 .

Note. Let us recall that construction organizations may well have balances in accounts 41 “Goods” and 43 “Finished Products”. In particular, the composition of goods may include real estate objects intended for sale, and finished products, for example, from a developer who carried out construction and installation work on his own, are recognized as completed construction projects (Letter of the Ministry of Finance of Russia dated May 18, 2006 N 07-05-03/02) .

The currency of the balance sheet compiled by the accountant is 40,600 thousand rubles, the total according to section. II "Current assets" - 14,800 thousand rubles.

According to the accounting policy of the organization, the level of materiality for the purposes of preparing the balance sheet is equal to:

option 1: 5% of the balance sheet currency, that is, 2030 thousand rubles. (40,600 x 5%);
option 2: 5% of the total for the corresponding section of the balance sheet, that is, 740 thousand rubles. (14,800 x 5%);
option 3: 5% of the corresponding balance line, that is, 193 thousand rubles. (3855 x 5%).

With option 1 information on reserves as of December 31, 2012 will be presented in the balance sheet as one line. The balance fragment will look like this:

With option 2 information on inventories as of the same date will be presented more fully in the balance sheet, since such significant indicators as:

Cost of materials;
the cost of finished products and goods (by virtue of clause 20 of PBU 4/99, finished products, goods for resale and goods shipped are reflected in one balance sheet item - see the table above).

In this case, the balance sheet fragment will look like this:

Explanations	Name indicator

	Including: materials
	finished products and goods

With option 3 Another significant indicator is the cost of work in progress in the amount of 195 thousand rubles, which is also subject to separate reflection in the balance sheet. Then the same fragment of the balance sheet will take the following form:

Explanations	Name indicator

	Including: materials
	finished products and goods
	costs in unfinished production

Now every user of an organization’s reporting will immediately understand what the “Inventories” line indicator of the balance sheet includes, because the breakdown of the components is the most detailed.

However, we will not rush to conclude that it is the third option that should be used. According to the author, this example clearly shows that a 5% level of materiality from the indicator of each line of the balance sheet can lead to excessive detail. Judge for yourself. Under option 3, the indicator is considered significant if it is greater than or equal to 193 thousand rubles. This value in comparison with the balance sheet currency is 40,600 thousand rubles. - is negligible and amounts to less than 0.5%. Is it really important for balance sheet users to get an idea of an asset whose share in the total value of all assets of the organization is equal to half a percent? We believe the answer is obvious - no.

And to dispel any remaining doubts, let us give one more example. Let's assume that the indicator in line 1250 "Cash and cash equivalents" is equal to 1,500 thousand rubles, including cash in bank accounts - 1,420 thousand rubles, in cash - 80 thousand rubles. The five percent materiality level of the line indicator will be 75 thousand rubles. (1500 x 5%). In this case, the accountant is obliged, in addition to line 1250, to enter two more lines to reflect non-cash and cash separately. However, how valuable is the information that a small part of the organization’s funds as of December 31, 2012 is kept in cash? In the author’s opinion, this information can hardly be considered fundamentally important and capable of influencing decision-making.

However, we cannot exclude a situation where establishing a 5% materiality level for each line item on the balance sheet would be justified. Let's look at a simple example.

Example 2. Stroymontazh LLC as of December 31, 2012 has the following indicators:

Name	Amount, thousand rubles
Fixed assets
Inventories - total
Including: materials (count 10)
work in progress (account 20)
goods (account 41)
finished products (account 43)
VAT on purchased assets
Accounts receivable
Cash
Current assets - total
Balance currency

According to the accounting policy of the organization, the level of materiality for the purpose of drawing up the balance sheet is equal to 5% of the corresponding line of the balance sheet, that is, in relation to inventories it is 193 thousand rubles. (3855 x 5%).

In this case, inventories will be presented in the balance sheet in the same way as in option 3 of example 1. However, it is no longer necessary to say that the allocation of costs in work in progress into a separate line led to excessive detail in the balance sheet, because the share of this indicator in foreign currency the balance is slightly less than 5% (to be precise, 4.7%), and its absolute value exceeds the size of other indicators presented in separate lines (VAT on acquired assets, accounts receivable, cash).

Taking into account the above, it is obvious that the choice of materiality level should not be arbitrary; it is necessary to take into account the specific indicators of each specific organization.

This, of course, is ideal... But in practice it often happens that an organization’s accounting policies do not contain a clause on the level of materiality at all. In this case, the accountant needs to prepare an addition to the accounting policy, which must be approved by the head of the organization. It is clear that this must be done before preparing annual financial statements.

Fixed assets, construction in progress

Throughout 2011 and 2012. specialists argued about which group of items should include the balance of account 08 “Investments in non-current assets”. Some stated that it would be advisable not to include the cost of unfinished construction in the group of items “Fixed assets” and reflect it in line 1190 “Other non-current assets”, so that tax inspectors would not have unnecessary questions when checking the tax base for property tax. Others insisted that the value of construction in progress should be reported as part of line 1150, Property, Plant and Equipment. Taking into account the requirements of clause 20 of PBU 4/99, it is obvious that the accountant has no alternative; the balance of account 08 must be included in the indicator of line 1150 “Fixed assets”. This conclusion also follows from Order of the Ministry of Finance of Russia N 66n (unfinished construction and unfinished operations for the acquisition, modernization, etc. of fixed assets are reflected in the explanations to Section 2 "Fixed Assets" - Table 2.2 "Unfinished Capital Investments". At the same time and the code of the corresponding lines begins with the numbers 52, which corresponds to the code of the group of articles “Fixed assets”).

It is quite possible that it will be enough for the accountant to reflect in the named line the residual value of all fixed assets and the cost of construction in progress in one amount. However, if such indicators as land plots and environmental management facilities, buildings, machinery, equipment and other fixed assets, construction in progress are considered significant, additional lines must be entered into the balance sheet to reflect them.

Note! If during the reporting year the organization carried out purchase and sale transactions of fixed assets - real estate, then the buildings, structures, structures transferred under the deed, even in the absence of state registration of the transfer of ownership, must be excluded by the seller from the list of fixed assets and accepted by the buyer for accounting in this category of assets (with mandatory separation in a separate sub-account, for example “Objects of fixed assets, the rights to which have not passed state registration”). Thus, the cost of the disposed object in the seller’s balance sheet will be reflected in line 1210 “Inventories”, and for the buyer - in line 1150 “Fixed assets” (This procedure for accounting for the disposal of fixed assets is due to the convergence of Russian accounting standards with international ones. In the latter, priority is not given the organization has a registered ownership of the object, and the transfer of control over the asset and the risks of accidental loss and damage). At the same time, having reflected the disposal of the object from the fixed assets on the date of signing the transfer and acceptance certificate, the seller ceases to be recognized as a property tax payer - this responsibility passes to the buyer. The validity of this conclusion is confirmed, among other things, by the Information Letter of the Presidium of the Supreme Arbitration Court of the Russian Federation dated November 17, 2011 N 148.

Note. To reflect a disposed fixed asset until the moment of recognition of income and expenses from its disposal, the Ministry of Finance recommends that the seller use account 45 “Goods shipped” by opening a separate sub-account for it “Transferred real estate” (Recommendations, Letter dated March 22, 2011 N 07-02-10 /20, which was sent to the tax authorities by Letter of the Federal Tax Service of Russia dated March 31, 2011 N KE-4-3/5085@).

So, to fill out line 1150 “Fixed assets”, the accountant uses the data reflected in accounts 01 and 02. Information about property (including real estate) provided by the organization for a fee for temporary use (temporary possession and use) for the purpose of generating income, according to are not reflected in the balance sheet line, but are indicated on line 1160 “Income investments in material assets.” The indicator of this line is equal to the value of the property recorded in the debit of account 03, reduced by the amount of accrued depreciation, which should be accounted for separately on account 02.

Financial investments

To reflect financial investments in the balance sheet, two lines are allocated: 1170 - as part of non-current assets and 1240 - as part of current assets. The division of financial investments available to an organization into long-term and short-term is made on the basis of an analysis of investments based not only on the period of their circulation or repayment (conditions for the issue of relevant securities, the validity period of loan agreements, etc.), but also on the organization’s intentions regarding the data investments. Let us explain this using the example of investments in the authorized capital of other organizations. On the one hand, such investments are indefinite, but this is not a reason to classify them as long-term in any case. In particular, if a share in the authorized capital of an LLC was acquired in order to influence this company for a long time, control it and regularly receive dividends (income), this is a long-term financial investment. If the acquired share is expected to be resold in the near future (during 2013, that is, in a period less than 12 months after the reporting date) and make a profit on the difference between the purchase price and its sale price, such investments must be classified as short-term and reflected in section II "Current assets" balance sheet.

For your information. As part of financial investments, along with contributions to the authorized capitals of other organizations, loans provided to other organizations, deposits in credit institutions, receivables acquired on the basis of an assignment of the right of claim, contributions of a partner organization under a simple partnership agreement, etc. are taken into account.

Reserves

We have already said a lot about how reserves are reflected in the balance sheet. Therefore, in this section we will focus only on whether information on inventories needs to be presented in the balance sheet for 2012, dividing them into non-current and current, classifying the cost of materials purchased for the construction of fixed assets in the first category. The answer to this question is negative. The fact is that this procedure is applied in IFRS, but at the moment it, firstly, is not provided for by Russian national standards and, secondly, does not correspond to the same paragraph 20 of PBU 4/99. From the table presented in it it is clear that this paragraph provides the only option reflection in the balance sheet of information about materials, namely as part of current assets. Other regulatory documents on accounting currently do not contain instructions on the obligation to separate in reporting information about materials intended for the construction of fixed assets. Therefore, in the reporting for 2012, the cost of materials must be reflected in line 1210 “Inventories”.

Note! If the draft of the new PBU “Inventories”, as expected, will be put into effect with reporting for 2013, then raw materials, materials, finished products or work in progress intended to create non-current assets of the organization will no longer be recognized as inventories (this is expressly stated in clause 4 of the project). Accordingly, the procedure for reporting listed assets will change.

Cash equivalents

The concept of “cash equivalents” was introduced by PBU 23/2011 “Cash Flow Report” (Approved by Order of the Ministry of Finance of Russia dated 02.02.2011 N 11n), in accordance with clause 5 of which cash equivalents are understood highly liquid financial investments that can be easily converted into a known amount of cash and which are subject to an insignificant risk of changes in value. Cash equivalents may include, for example, demand deposits opened with credit institutions. The international methodology uses the concept of “cash equivalents”. These are recognized as short-term, highly liquid investments that are easily convertible into pre-known amounts of cash and are subject to an insignificant risk of changes in their value (IFRS (IAS) 7 “Statement of Cash Flows” (Enacted on the territory of the Russian Federation by Order of the Ministry of Finance of Russia dated November 25, 2011 N 160n)).

Due to the fact that cash equivalents should be reflected in the balance sheet not as part of long-term and short-term financial investments in lines 1170 and 1240, but on line 1250 “Cash and cash equivalents”, the accountant needs to classify them correctly, that is, separate them from financial investments highly liquid that fall within the definition of cash equivalents. As an example of cash equivalents, PBU 23/2011 names demand deposits opened in credit institutions. In addition, as follows from paragraph 5 of the Letter of the Ministry of Finance of Russia dated December 21, 2009 N PZ-4/2009 “On the disclosure of information about the organization’s financial investments in the annual financial statements,” for example, bills of exchange of Sberbank of Russia used by organizations when making payments for goods sold, work performed, services rendered, with a repayment period of up to three months.

Note! By virtue of clause 20 of PBU 4/99 and the explanations of the financial department, information on funds in current accounts, foreign currency accounts and other funds should be allocated in separate items in the balance sheet (if the indicators are significant). However, if cash equivalents are a significant indicator, the accountant is obliged to highlight them in a separate line.

Accounts receivable, advances issued

Accounts receivable should be shown on the balance sheet less the amount of the provision for doubtful debts (if any). In other words, in order to correctly form the indicator for line 1230 of the balance sheet, you need to add up the balances of accounts receivable listed in accounts 62, 76 and other settlement accounts, and subtract the credit balance of account 63 “Provisions for doubtful debts” from the resulting amount.

Let us recall that the mandatory formation of such a reserve since 2011 has been enshrined in clause 70 of the Regulations on accounting and financial reporting in the Russian Federation (Approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n). However, if the organization’s debtors are disciplined (in terms of meeting payment deadlines) and reliable (that is, despite the delay, the organization has no doubts about repaying the debt) or have provided appropriate security, the organization does not have an obligation to make contributions to this reserve.

Note. The amount of the reserve must be determined separately for each doubtful debt, depending on the financial condition (solvency) of the debtor and the assessment of the likelihood of repaying the debt in whole or in part. At the same time, a specific methodology (procedure) for such an assessment must be enshrined in the accounting policies of the organization.

Details of the significant indicators included in the group of items “Accounts receivable” (line 1230 of the balance sheet) are given in the Table. It shows that advances issued should be reflected in the balance sheet separately from the rest of the receivables. The Ministry of Finance also drew attention to this nuance in the Recommendations, emphasizing that such an obligation arises only if the indicator on the amount of advances issued to suppliers is significant.

Special mention should be made of advances issued in connection with the acquisition and creation of non-current assets. In 2011, the Ministry of Finance unexpectedly announced to everyone that when issuing advances and prepayments for work, services, etc. related to the construction of fixed assets, the repayment of the cost of which is carried out within a period exceeding 12 months, the amounts of advances issued and prepayments are reflected in balance sheet in section. I "Non-current assets" regardless of the timing of repayment by counterparties of obligations on advances issued to them (advance payment)(Letters dated January 24, 2011 N 07-02-18/01 and dated April 11, 2011 N 07-02-06/42). These recommendations were based on the liquidity principle enshrined in IFRS. However, this principle has not yet been established by regulatory documents in Russian accounting. And by virtue of the same clause 20 of PBU 4/99, accounts receivable should be reflected in section. II “Current assets” of the balance sheet, and the accountant has no alternative. Supporters of this approach believe that the Ministry of Finance took these critical comments and that is why similar explanations were not included in the text of the Letter with recommendations for reporting for 2011. One can only hope that they will not appear in a fresh letter dedicated to the nuances of reporting for 2012.

Borrowed funds

To reflect them in the balance sheet form approved by the Ministry of Finance, there are two lines: 1410 (in section IV “Long-term liabilities”) and 1510 (in section V “Short-term liabilities”). However, it is incorrect to assume that the balance on account 67 “Settlements for long-term loans and borrowings” should clearly be indicated as part of long-term liabilities. The fact is that a loan (credit) obligation may contain both long-term and short-term parts, and these parts will constantly change as the payment deadlines approach. Therefore, the accountant needs to separate out the long-term and short-term parts of the debt based on the repayment terms of the loan. Amounts of loans and borrowings subject to repayment within 12 months after the reporting date are reflected in line 1510.

The same approach is applied to reflecting accrued interest in the balance sheet. If their amounts must be paid during 2013, we indicate them in section. V "Short-term liabilities", otherwise - reflected as part of long-term liabilities in section. IV balance. In this regard, the amounts of loans and borrowings can be classified as long-term liabilities, and accrued interest - as short-term debt.

Note! Clause 20 of PBU 4/99 obliges to separate the amounts of loans and borrowings in the balance sheet. Therefore, if the corresponding indicator is considered significant, the accountant must enter an additional line in the balance sheet to reflect it.

Let us explain what has been said in a specific situation.

Example 3 . LLC "Construction Technologies" as of December 31, 2012 has short-term debt on borrowed funds in the amount of 18,500 thousand rubles, including:

loans in the amount of 10,000 thousand rubles;
loans in the amount of 8,500 thousand rubles.

There is no accrued interest debt. The level of materiality, determined in accordance with the accounting policy in the amount of 5% of the total for the corresponding section of the balance sheet (in this case, section V "Current liabilities"), is equal to:

option 1: 11,000 thousand rubles;
option 2: 9000 thousand rubles;
option 3: 8000 thousand rubles.

With option 1 information on borrowed funds as of December 31, 2012 will be presented in the balance sheet as one line. The balance fragment will look like this:

With option 2 information about borrowed funds as of the same date will be presented in the balance sheet more fully and the same fragment of the balance sheet will take the following form:

Explanations	Name indicator
	Borrowed funds
	Including: loans

With option 3 Essential indicators will be information about both loans and credits. Since they must be reflected separately in the balance sheet, it will be filled out like this:

Explanations	Name indicator
	Borrowed funds
	Including: loans

Estimated liabilities

Information on estimated liabilities, as well as on borrowed funds, is presented in two sections of liabilities - IV “Long-term liabilities” and V “Short-term liabilities”. In accordance with PBU 8/2010 “Estimated liabilities, contingent liabilities and contingent assets” (Approved by Order of the Ministry of Finance of Russia dated December 13, 2010 N 167n) and the Recommendations, the obligation to reflect an estimated liability arises:

under obviously unprofitable contracts;
in connection with participation in legal proceedings, if the organization has reason to believe that the court decision will not be made in its favor and it can reasonably estimate the amount that will have to be paid to the plaintiff;
on upcoming expenses for paying vacations to employees;
in connection with upcoming payments to employees based on the results of the year or for length of service (if such payments are provided for by collective or labor agreements);
due to the existence of warranty service obligations for products sold and work performed.

Let us remind you that all types of estimated liabilities are reflected in account 96, the credit balance of which forms the indicators of lines 1430 and 1540 (depending on the expected period of fulfillment of this obligation).

Accounts payable

As part of accounts payable in the balance sheet, if indicators are available and their materiality, the following items should be highlighted (clause 20 of PBU 4/99):

suppliers and contractors;
bills payable;
debt to subsidiaries and dependent companies;
debt to the organization's personnel;
debt to the budget and state extra-budgetary funds;
debt to participants (founders) for payment of income;
advances received;
other creditors.

In this case, additional balance lines must be assigned codes 1521, 1522, 1523, etc.

"Simplified" balance

As a small business entity, a construction organization has the right to take advantage of the opportunity provided by Order of the Ministry of Finance of Russia N 66n to present a “simplified” balance sheet, which provides indicators only for groups of items (without detailing the items). Thus, the balance sheet for small businesses includes only eleven indicators (five lines in assets and six in liabilities).

Note. The accountant of a small enterprise does not have the obligation to enter additional lines into the balance sheet; it is enough to fill out those provided for in the approved form.

Fixed assets (including profitable investments in tangible assets (In the traditional balance sheet, as we noted above, there is a separate line to reflect the residual value of such assets)) and incomplete capital investments in fixed assets, the accountant must reflect on the line “Tangible non-current assets”.

The line “Intangible, financial and other non-current assets” provides information on the value of intangible assets, results of research and development, unfinished investments in intangible assets, research and development, deferred tax assets and long-term financial investments.

Inventories include materials, work in progress, goods and finished goods.

The line “Cash and cash equivalents” is intended to reflect data on the organization’s availability of money on hand and in current accounts, demand deposits, bills of exchange that serve as a means of settlement.

The indicator for the line “Financial and other current assets” assumes the inclusion of accounts receivable, VAT on acquired assets, short-term financial investments, and other current assets.

The simplified balance sheet liability contains the lines:

“Capital and reserves” (authorized, additional, reserve capital, retained earnings (uncovered loss));
"Long-term borrowed funds" (borrowed funds, including bank loans);
“Other long-term liabilities” (deferred, estimated and other liabilities);
"Short-term borrowed funds" (borrowed funds, including bank loans);
"Accounts payable" (debt to suppliers and contractors, personnel, budget, funds);
"Other current liabilities" (estimated and other liabilities).

Note. A small enterprise may not have deferred and estimated liabilities if its accounting policy stipulates that it does not apply PBU 18/02 “Accounting for calculations of corporate income tax” (approved by Order of the Ministry of Finance of Russia dated November 19, 2002 N 114n) and PBU 8 /2010.

When completing a simplified balance sheet (as opposed to a traditional one), the accountant may have to spend a little more time coding the lines. Due to the fact that in a “small” balance sheet several dissimilar indicators can be included in one line, a special procedure for assigning codes is provided - the line code is indicated by the indicator that has the largest share in the enlarged indicator (clause 5 of Order of the Ministry of Finance of Russia N 66n). The necessary information for indicating the codes is available in Appendix 4 to this Order.

Example 4 . Stroyservis LLC as of December 31, 2012 has the following assets:

residual value of fixed assets - 25,500 thousand rubles;
cost of unfinished construction - 12,000 thousand rubles;
cost of materials - 400 thousand rubles;
cost of goods - 90 thousand rubles;
funds in the current account - 500 thousand rubles;
cash in the cash register - 2 thousand rubles;
accounts receivable - 600 thousand rubles;
VAT on purchased valuables - 50 thousand rubles.

Information on the availability of fixed assets and work in progress forms the indicator of the line “Tangible non-current assets”, which is assigned code 1150, established for fixed assets.

For stocks there is no code other than 1210.

For cash and cash equivalents, only one code has also been entered - 1250.

Accounts receivable and VAT on acquired assets are reflected in the line “Financial and other current assets”, the code of which is determined by the code set for “receivables”.

Therefore, the balance sheet asset will look like this:

Explanations	Name indicator
2.1, 2.2, 2.3, 2.4	Material fixed assets
	Intangible, financial and other fixed assets

	Cash and cash equivalents
	Financial and others current assets

In addition, there is an increase in the volume of power purchases due to an increase in peak power consumption and the commissioning of new power units under CSA. Gross profit for the first quarter of 2018 amounted to 27,616.7 million rubles, which is 4,153.3 million rubles (17.7%) higher than the same figure for the previous year. In the reporting period, sales profit amounted to 726.4 million rubles. In the first quarter of 2017, a profit from sales was received in the amount of 67.7 million rubles. The increase in sales profit compared to the first quarter of 2017 is due to the uneven distribution of non-residential revenues across the six months in 2017, as well as an increase in consumption due to the climatic factor (lower average temperature). The balance of other expenses and income was minus 91.6 million rubles; in the first quarter of 2017, this value was 210.1 million rubles. The decrease was mainly due to an increase in the provision for doubtful debts.

How to check your balance sheet?

Step - 5 The unity of the balance sheet consists in building it on uniform principles of assessment and accounting, that is, using a single nomenclature of accounting accounts, correspondence and the same content of accounts in all divisions of the company. The balance must be successive, that is, each subsequent balance must follow from the previous one. Next, move on to the next step of the recommendation. How to build a balance sheet - balance sheet, balance sheet asset, balance sheet liability 01/03/2012 Step - 6 Fixed assets should be accounted for at their original cost, which consists of the actual costs of construction, delivery, installation, customs duties, etc.

If the amount of depreciation is subtracted from the original cost, you get the residual value at which the fixed assets should be reflected in the balance sheet. Next, move on to the next step of the recommendation. Step - 7 Intangible assets are accounted for at their residual value.

The fastest way to check your financial statements

Also, the balance should be based on inventory data. Conduct an inventory to ensure that the balances that appear on the accounts actually exist. Another requirement for balance is its unity. This means that the balance sheet should be based on uniform principles of assessment and accounting, when all departments of the company use a single nomenclature of accounting accounts and the same content of accounts.

Attention

And this should also be monitored not only when checking the balance, but during the very organization of accounting or its maintenance. It should be remembered that fixed assets must be accounted for at their original cost, which includes the actual costs of construction, delivery, customs duties, installation, setup, specialist consultations, etc. The residual value is obtained by subtracting depreciation from the original cost.

Fixed assets are reflected in the balance sheet at their residual value.

Balance sheet of the organization: we compile and check

Advice from an Expert - Financial Consultant Photo on the topic The balance sheet is an orderly system that determines the movement of property, the state of payments and obligations, as well as the organization’s own results. The balance sheet should provide guidance in planning, managing and analyzing the activities of the organization. It is related to financial accounting quite closely and has control functions, as well as functions of ensuring the safety of property.
Just follow these simple step-by-step tips, and you will be on the right track when solving your financial issues. How to learn how to draw up a balance sheet - balance sheet, learn how to draw up... 01/18/2012 A brief step-by-step guide So, let's look at the actions that need to be taken.

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The balance sheet must be truthful, therefore entries in it are made on the basis of documents confirming the facts of the economic life of the organization. The balance must be justified by inventory, and discrepancies may arise between actual balances and accounting data. In order to make sure that the balances of inventory items listed on the accounts actually exist, an inventory is necessary.

5 The unity of the balance sheet lies in its construction on uniform principles of assessment and accounting, that is, the use in all divisions of the company of a single nomenclature of accounting accounts, correspondence and the same content of accounts. The balance must be successive, that is, each subsequent balance must follow from the previous one.

How to check your account balance

Info

Step - 1Checking the balance sheet should begin with the correctness of the procedure for preparing balance sheets, that is, is there a name of the component part, the full name of the organization, address, is the reporting date or period indicated, type of activity, identification number and legal form of ownership. Next, move on to the next step of the recommendation. Step - 2 When checking the balance sheet, you should pay attention to maintaining the identity of the indicators in the columns at the beginning and end of the reporting period, both in terms of the content of the indicators and the nomenclature of items. That is, it is necessary to establish whether the requirements of comparability and consistency have been met.

Next, move on to the next step of the recommendation. How to calculate a balance sheet - calculate the balance sheet, fill out the balance sheet, calculate...

How to check your balance sheet

The growth of the loan portfolio is due to the need to attract short-term borrowed sources to finance operating activities. The financial statements are published on the website of JSC "Petersburg Sales Company" http://www.pesc.ru/shareholders_and_investors/disclosure_of_information/Accounting_and_Financial_Reporting/ Operating results are published at the link: http://www.pesc.ru/pressroom/company_news/ "Back JSC" Petersburg Sales Company" is a guaranteeing supplier of electricity in St. Petersburg, Leningrad and Omsk regions; serves over 3 million household consumers and more than 60 thousand consumers - legal entities. The useful supply of electricity for the 1st quarter of 2018 amounted to 10,298 million kWh.
The sole shareholder of JSC Petersburg Supply Company is PJSC Inter RAO.

How to Check Balance Sheet and Income Statement

Important

Instruction 1 Checking the balance sheet should begin with the correctness of the procedure for drawing up balance sheets, that is, whether there is a name of the component part, the full name of the organization, address, whether the reporting date or period is indicated, type of activity, identification number and legal form of ownership. 2 When checking the balance sheet, attention should be paid to ensuring that the column indicators are identical at the beginning and end of the reporting period, both in terms of the content of the indicators and the nomenclature of items. That is, it is necessary to establish whether the requirements of comparability and consistency have been met. 3 To confirm balance sheet items, it is necessary to reconcile the General Ledger and balance sheet figures using data from accounting registers. This procedure allows you to identify possible deviations for individual items.

How to check the balance sheet Ukraine

At the end of the reporting period).

The explanation line indicator 5700 (Balance at the beginning of the year) must coincide with the balance line indicator 1540 (At the end of the last period).

Let's compare the Balance Sheet and Cash Flow Statement indicators:

The report line indicator 4500 (At the end of the current period) must coincide with the balance line indicator 1250 (At the end of the current period).
The report line indicators 4450 (At the beginning of the current period) and 4500 (At the end of the previous period) should coincide with the balance line indicator 1250 (At the end of the previous period).
The report line indicator 4450 (At the beginning of the previous period) must coincide with the balance sheet line indicator 1250 (At the end of the year preceding the previous period).

If some indicators in the balance sheet do not agree, you will have to return to checking the reports, and the primary documentation in them.

The balance sheet of an organization is an important document for reporting to the tax authorities. But at the same time, it provides valuable information for analyzing the company’s activities, for financial planning and forecasts. A correctly compiled balance sheet is an ordered data system that shows the movement of property, the results of the organization’s activities, the state of settlements with counterparties and obligations. The balance sheet is closely related to financial accounting and helps control the operation of the enterprise, as well as preserve the company's property. The information contained in the balance sheet can be important and interesting not only to the owners of the organization or the Federal Tax Service, to which the company reports with this document.

How to check your balance sheet?

The availability of fixed assets should be checked based on inventories, cards and actual availability. An actual audit must be conducted to confirm that there are no unaccounted funds.

We recommend that you pay attention to the following tips from a financial consultant. The balance sheet should not contain any blots or erasures. Additional information and useful advice from a financial expert Before the balance sheet is approved by management, it is necessary to take an inventory of all the organization's funds.
How to form a balance sheet - Formation of a balance sheet, contents of a balance sheet, accountant... 01/03/2012 We hope the answer to the question - How to check a balance sheet - contained useful information for you.

The fastest way to check your financial statements

Sales volume amounted to 10,387 million kWh, which is 414 million kWh (4.2%) higher than the same period in 2017. Revenue from sales of electricity to own consumers in the first quarter of 2018 amounted to 33,116.8 million rubles, which is 4,056.2 million rubles (14.0%) higher than the figure for the same period in 2017.
The change is mainly due to an increase in sales volumes and an increase in average selling prices for electricity due to an increase in tariffs for electricity transmission and an increase in the weighted average unregulated prices for electricity in the wholesale electricity market. Revenue from the sale of electricity for compensation of losses in the first quarter of 2018 amounted to 4,440.3 million rubles - 581.6 million rubles (15.1%) higher than the revenue of the same period in 2017, which is mainly due to rising prices on the wholesale electricity market.

Balance sheet of the organization: we compile and check

I quarter of 2018. Indicator* I quarter 2018 I quarter 2017 Change, % Revenue 37,674.4 33,031.4 14.1 Operating expenses 36,948.0 32,963.7 12.1 Sales profit 726.4 67.7 10.7 times Balance of other income/expenses -91.6 210.1 — Net profit 475.6 189.8 150.6 as of March 31, 2018 as of December 31, 2017 Total assets 13137.0 15579.7 -15.7 Total capital 2 431.9 1,956.3 24.3 Credits and borrowings 150.0 — — Net debt ** -28.1 -2768.6 — * in million rubles, unless otherwise indicated ** net debt indicator is calculated as follows: Short-term loans and borrowings plus Long-term loans and borrowings minus Cash and cash equivalents minus Cash on deposit accounts Profit and loss statement The revenue of Petersburg Sales Company JSC for the first quarter of 2018 amounted to 37,674.4 million rubles, which is by 4,643. 0 million rubles (14.1%) higher than revenue for the same period in 2017.

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Balance data may be required by other interested parties:

state statistics bodies;
to banks in case of a loan application;
investors and sponsors;
counterparties;
administrations of the regions in which the company operates.

Therefore, it is important to correctly draw up a balance sheet and check it: compare the ratios of indicators between different forms. If the balance sheet line is distorted by 10% or more, then according to Art.
15.11

Attention

The Tax Code of the Russian Federation may impose a fine of 2000-3000 rubles on the company. If the company's reporting is subject to mandatory audit, then in case of distortions it will be more difficult to obtain a positive audit opinion.

Info

Due to errors in the balance sheet, the bank may refuse a loan, and investors may refuse to cooperate. Also, the balance sheet should not contain blots or erasures.

How to check your account balance

Step - 3To confirm balance sheet items, you need to reconcile the General Ledger and balance sheet figures using data from accounting registers. This procedure allows you to identify possible deviations for individual items. Next, move on to the next step of the recommendation. Step - 4 The balance sheet must be truthful, therefore entries in it are made on the basis of documents confirming the facts of the economic life of the organization. The balance must be justified by inventory, and discrepancies may arise between actual balances and accounting data.
In order to make sure that the balances of inventory items listed on the accounts actually exist, an inventory is necessary. Next, move on to the next step of the recommendation.

How to check your balance sheet

Operating expenses amounted to 36,948.0 million rubles, which is 3,984.3 million rubles (12.1%) higher than in the same period last year. The increase in operating expenses is mainly due to:

increase in the cost of services of network companies by 1,967.4 million rubles (14.5%);
an increase in the cost of purchased capacity by 1,663.5 million rubles (20.3%).

The increase in the cost of services of network companies occurred due to the indexation of tariffs for electricity transmission services and an increase in electricity consumption. The increase in costs for the purchase of power in the Wholesale Electric Energy Market is due to the use of surcharges to the price of COM in the first quarter of 2018 (surcharges in order to achieve basic price levels (tariffs) in the territories of the Far Eastern Federal District, etc.), an increase in prices according to RD due to the indexation of indicative prices for power according to RD from the second half of 2017.

How to Check Balance Sheet and Income Statement

Everyone knows that there are certain dependencies in accounting documentation that can be used to check the correctness of calculations. Instructions 1 You can find various sources of necessary information on the Internet: for example, at http://mvf.klerk.ru/f1otchet/vzaimouv.htm there is a table that summarizes all the dependencies of the data to be filled out. The balance sheet indicators are dependent on the “Statement of Changes in Capital” indicators. For example, line 430, column 3 of the balance sheet should match the line of the report “Balance as of January 1 of the reporting year,” column 5; as well as line 470, column 4 of the balance sheet - with the line “Balance as of December 31 of the reporting year” of the report, column 6. 2 Balance sheet indicators also have dependencies with the data in the “Cash Flow Statement”.

How to check the balance sheet Ukraine

Inter RAO Group is a diversified energy holding company present in various segments of the electric power industry in Russia and abroad. The company occupies a leading position in Russia in the field of export-import of electricity, is actively increasing its presence in the generation and sales segments, and is also developing new business areas.
Inter RAO's strategy is aimed at creating a global energy company - one of the key players in the global energy market, a leader in the Russian electric power industry in the field of efficiency. The installed capacity of power plants that are part of the Inter RAO Group is 35 GW.

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There are simple ways to identify errors in financial statements. Checking the correctness of the balance sheet How to check the correctness of the balance sheet

Why do you need a completed balance sheet: example

Forms in which it is possible to create a balance sheet

How to draw up a balance sheet - 2018 for the Federal Tax Service: rules and techniques

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General rules for filling out the balance sheet

Balance sheet: how to fill out item by item

Balance sheet: example of filling out the general form

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Results

About the balance sheet form

How to check your balance sheet?

The fastest way to check your financial statements

Balance sheet of the organization: we compile and check

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How to check your account balance

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How to check the balance sheet Ukraine

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The fastest way to check your financial statements

Balance sheet of the organization: we compile and check

Pepep╬p╩p╬p╨ p╟i┐p╢p╦i┌p╬i─p╟

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How to check your account balance

How to check your balance sheet

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How to check the balance sheet Ukraine

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There are simple ways to identify errors in financial statements. Checking the correctness of the balance sheet How to check the correctness of the balance sheet

Why do you need a completed balance sheet: example

Forms in which it is possible to create a balance sheet

How to draw up a balance sheet - 2018 for the Federal Tax Service: rules and techniques

What does the abbreviation TZR (decoding) and others mean?

General rules for filling out the balance sheet

Balance sheet: how to fill out item by item

Balance sheet: example of filling out the general form

Balance sheet: example of filling out a simplified form

Results

About the balance sheet form

How to check your balance sheet?

The fastest way to check your financial statements

Balance sheet of the organization: we compile and check

Pepep╬p╩p╬p╨ p╟i┐p╢p╦i┌p╬i─p╟

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How to check your balance sheet

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How to check your balance sheet?

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Pepep╬p╩p╬p╨ p╟i┐p╢p╦i┌p╬i─p╟

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How to check the balance sheet Ukraine

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