The financial statements are the unified system of indicators based on the results of economic activities that characterize the financial and property status of the enterprise. Its basis is data recorded in established forms. These documents are put into effect in accordance with the Orders of the Ministry of Finance of Russia.
The new form of balance, as well as its annexes, contains the main indicators obtained at the end of the reporting period. These documents are approved by Order of the Ministry of Finance of the Russian Federation No. 66n, which was signed on July 2, 2010. The entry into force of the normative act under consideration is provided for starting from the results of work for 2011. This document has undergone editorial changes. By order of the Ministry of Finance of the Russian Federation on 05.10.2011 No. 124n, some adjustments were made to it. So, in particular, have undergone minor changes in the name of some lines. The 2012 balance sheet has new indicator codes. Also, additional lines are added to it.
The balance sheet, approved by Order No. 66n, has a large number of columns compared to the previous document. The new column “Explanations” should indicate the serial numbers of comments that are given for annual indicators.
The balance sheet form also began to contain columns in which data for the previous year, as well as the previous one, are indicated for comparison. New lines are introduced into the new document. They are available both in assets and in liabilities. But the decoding of some balance sheet items has been removed.
One of the new lines of the accounting report, which contains information on the results of research and development, reflects data on certain types of R&D. In addition, capital investments in installation and construction, which are incomplete, are not considered as fixed assets. Data on them should be reflected in such an article as “Other non-current assets”.
The balance sheet of 2012, like previous documents, contains indicators of long-term as well as short-term financial investments. However, the names of the corresponding lines do not specify their period. Presentation of receivables in the accounting document is currently made in one amount. An explanation of its composition in the form of a long-term and short-term part must now be made in the explanatory note, which is attached to the document.
The balance sheet form, which was approved by the Order of the Ministry of Finance of the Russian Federation, has a slightly different asset structure compared to the previous document. Strings were removed from it, which gave a decryption of various groups of stocks, as well as receivables. Order No. 66n gives organizations the right to independently determine the details of report items.
Affected changes and passivity. There are no lines in the approved form explaining the composition of the reserve capital and accounts payable. So, for example, the size of income payments to founders or participants should be disclosed in the explanation of the balance sheet. Additional paid-in capital, the amount of which is reflected in the passive part, is indicated without the revaluation amount. Its amounts are enclosed in a separate line.
The fourth section of the accounting report should reflect information on reserves created for contingent liabilities. In the previous form, these amounts were included in the indicator of the amount of future expenses.
The names of the lines reflecting the authorized capital and borrowed funds began to sound somewhat differently. In addition, information on values that are recorded on accounts referred to as off-balance sheet is disclosed in the notes to the financial statements.
When compiling quarterly and annual forms, it is necessary to take into account all the changes introduced by Order No. 66n. Moreover, the indicators for the two previous periods, the values of which should be disclosed in the balance sheet, should be grouped taking into account new requirements.