In accordance with the legislation, many Russian businesses are obliged to generate financial statements. This may involve filling out a number of standardized documents. Among them - the balance sheet in form 1, approved by the Ministry of Finance of the Russian Federation. What is the specifics of this document? How to fill it in correctly?
Balance sheet: basic information
The balance sheet is the most important component of the corresponding type of reporting of Russian enterprises to state bodies. Information from the form by which it is filled out can give a very balanced and objective assessment of the situation in the business, and also serve as an informative resource in terms of planning the development of the company. The balance sheet form (form) was approved by the Ministry of Finance of the Russian Federation in order No. 66N, issued on July 2, 2010.
Balance sheet structure
In accordance with the noted document, the type of reporting under consideration consists of two main parts, namely the asset and liability. What is their specificity? An asset is a section of the balance sheet, which, in particular, involves the classification of information into those that reflect current and non-current indicators. What about liabilities? This section of the balance sheet includes information on the capital of the company, as well as on its reserves, long-term and short-term liabilities.
How to fill in the balance correctly?
It can be noted that the key criterion for the correctness of the type of reporting under consideration is the equality of asset and liability. Other requirements that a balance sheet must comply with:
- it is impossible to set off between the indicators of the rows in the asset and liability;
- data reflecting indicators at the beginning of the year should coincide with those that were recorded at the end of the previous one;
- the information reflected in the document in question must be confirmed.
What other features can be noted that characterize the form on which the balance sheet is filled? Form 1 (this is the name of the corresponding document) involves the structuring of sections into lines, each of which has a separate code. The balance sheet form is usually filled in thousands of rubles, and decimal indicators are not used. In a number of cases - for example, if a large company with a large turnover turns in the document - the results of operations are reflected in millions of rubles.
The specifics of filling asset lines
How to draw up a balance sheet? An example of an algorithm for filling its asset may look like this.
Line 1110 is intended to reflect information about the intangible assets of the firm. They can be defined as the balance of the debit of account 04, from which the indicators for the credit of account 05 are deducted.
Line 1120 is intended to include data regarding research and development results. In order to calculate this parameter, it is necessary to determine the balance of the debit of account 04 in the part of the subaccount, which is referred to as “R&D expenses”.
Line 1130 includes information about assets that are classified as intangible search. They can be determined on the basis of the debit balance of account 08 in the part of the sub-account called “Intangible search assets”, reduced by the indicator on the credit of account 05 in the part of the sub-account “Depreciation and impairment of assets”.
Line 1140 records assets that are classified as material search. In order to get the corresponding numbers, you need to subtract from the debit balance of account 08 in the part of the sub-account called “Material retrieval assets” the indicator for the credit of account 02 (for the sub-account called “Depreciation and impairment”).
Line 1150 contains data reflecting fixed assets. They are easily defined as the difference between the balance of the debit of account 01 and the corresponding indicator for the credit of account 02.
Line 1160 records information reflecting a return on investment. In order to determine them, you need to subtract from the balance in the debit of account 01 the corresponding indicator for the credit of account 02, but this time - the sub-account “Depreciation of profitable investments”.
Line 1170 contains information about the financial investments of the company. Determining the relevant indicators is somewhat more difficult. First you need to add two balances - for the debit of account 58 and 55 (sub-account “Deposit accounts”). From the resulting amount, you need to subtract the credit balance of account 59, to which should be added indicators for the debit of account 73 (sub-accounts “Settlements with staff”).
Line 1180 records deferred tax assets. It is very easy to determine them - as the balance for the debit of account 09.
Line 1190 reflects other non-current assets. This should include numbers that belong to the corresponding category, but were not indicated in the document.
In line 1100, it is necessary to summarize the performance of lines from 1110 to 1190. This will allow you to summarize the numbers in section 1 of the document.
Line 1210 records stocks. They can be determined on the basis of information reflecting the debit balance of such accounts as, for example, 10, 11, 41, as well as 43.
Line 1220 includes data reflecting VAT on acquired values. The corresponding figures are easy to find based on the balances on the debit of account 19.
Line 1230 records the receivables. It is calculated as the difference between the debit balance of such accounts as, for example, 60 and 76 and the corresponding indicator for the credit of account 63.
Line 1240 reflects data relating to financial investments. The formula for determining the corresponding numbers is quite complicated. First you need to add the balance indicators for the debit of accounts 55 and 58, then subtract from them the figures obtained as a result of adding the balance on the credit of account 59 and the debit of account 73. It is important to take into account the indicators only for short-term investments and loans.
Line 1250 reflects cash and cash equivalents. They can be found on the basis of debit balance indicators for such accounts as, for example, 50, 51, 52, as well as 57.
Line 1260 records other non-current assets - those that were not included in the section.
Line 1200 indicates the number to be obtained by adding the indicators in lines 1210 through 1260.
After that, in line 1600 you need to summarize lines from 1100 to 1200, resulting in a balance indicator.
Now we will study how the liability of the balance sheet is filled.
The specifics of filling liabilities
Line 1310 records indicators reflecting the authorized (or collateral - with the appropriate legal form of business) capital. It is easy to determine based on the credit balance of account 80.
Line 1320 contains numbers reflecting the company's own shares that are purchased from their holders. They are easy to obtain based on the balances on the debit of account 81.
Line 1340 includes figures reflecting the revaluation of non-current assets. They can be determined on the basis of the credit balance of account 83 (sub-account, which is referred to as “revaluation of property”).
Line 1350 records data on additional paid-in capital without revaluation. In order to determine them, it is necessary to deduct the corresponding amounts of fixed assets and intangible assets from the credit balance of account 83.
Line 1360 captures the numbers for reserve capital. In order to determine them, you need to add the credit balances of accounts 82 and 84. In the first case, you do not need to take into account special funds, in the second - you need.
Line 1370 reflects retained earnings (or uncovered loss). The calculation of the corresponding figures depends on whether the accountant is dealing with profit or loss. In the first case, the figures are obtained on the basis of the credit balance of the account 84, in the second - on the basis of debit.
In line 1300, the total is recorded, which reflects the indicators for section 3. In order to calculate it, you need to subtract from the numbers on line 1310 the sum of the indicators for items 1320, 1340, 1350, 1360, as well as 1370.
Next - go to the borrowed funds, which are recorded in line 1410. Their value is easily determined based on the indicators of the balance of the credit of account 67 (data reflecting long-term funds).
Deferred tax liabilities are recorded in line 1420. They are easy to determine based on the indicators of the balance of the credit of the account 77.
Estimated liabilities are shown on line 1430. They can be taken from the credit balance of account 96.
Line 1450 contains information on other obligations - those that were not reflected in the document.
Line 1400 records the sum of the indicators for lines 1410 through 1450.
Line 1510 includes figures for borrowed funds - but this time short-term ones. They can be found on the basis of the indicators of the balance of the credit of accounts 66 and 67.
The accounts payable of the company are recorded on account 1520. It can be calculated by adding the balance indicators for loans of several accounts, namely 60, 62, 68, 69, 70, 71, 73, 75, as well as 76.
Line 1530 reflects deferred income. They can be determined by adding the balance indicators for the loans of accounts 98 and 86.
Line 1540 records the numbers regarding the firm's estimated liabilities. They can be determined on the basis of data reflecting the indicators of the balance of the credit of account 96.
Line 1550 reflects other obligations that are not indicated in the document.
As soon as all the accounts of the balance sheet necessary to fill out the Liability section are taken into account, you can calculate the results of the section by adding the indicators of lines from 1510 to 1550.
After all the above operations, the indicators of lines 1300, 1400, as well as 1500 are summarized, as a result of which the balance is calculated. The corresponding number must be indicated on line 1700.
Simplified Balance Form
So, now we know where the information needed to answer the question of how to draw up the balance sheet comes from. We studied an example of an algorithm for filling out the corresponding document in a standard scenario. However, the legislation of the Russian Federation provides a simplified scheme for compiling the source in question. What might the balance sheet look like in this case? A simplified form is also provided for by Order of the Ministry of Finance No. 66, namely, in Appendix No. 5.
What is the algorithm for working with the corresponding document? How different is it from the way in which the standard balance sheet is filled (Form 1)?
Unity of standards
In a number of structural elements, both sources are almost identical. This applies, for example, to the section in which the details of the reporting organization are indicated - company name, type of activity, legal form. Above, considering how to draw up a balance sheet (an example of an algorithm for filling in lines), we classified the indicators according to what should be reflected in the asset and liability. We have to do the same when working with a simplified form of the document. However, in this case there are much fewer indicators - only 5 in the asset and 6 in the liability. In addition, there are no sections in a simplified form.
Simplified balance sheet: features of filling an asset
Let us now examine how, in practice, in a simplified form, the balance sheet can be filled. A sample algorithm for compiling the corresponding document may look like this.
As in the standard balance sheet, we will start working with the numbers for the asset.
The first indicator will be recorded in line 1150. It, as we recall, reflects non-current assets belonging to the tangible category. Where do we get the numbers from? We know. It can also be noted that this line records information regarding the residual value of fixed assets and figures on incomplete investments in them.
The next line reflects intangible assets. It can be noted that the information in it may reflect the information presented at once in several paragraphs of the standard balance sheet, namely - 1110, 1120, 1130, 1140, 1160, 1180, as well as 1190.
The following lines in the simplified balance sheet - stocks, as well as cash and cash equivalents, almost completely correspond to indicators of points 1210 and 1250 in the usual form of balance sheet.
The next line records assets - financial and other. It may use the code 1220 (that is, reflecting VAT), 1230 (accounts receivable), 1240 (investments), or 1260 - other assets.
The Asset closes with line 1600 - that is, a balance that summarizes the relevant indicators.
Simplified balance: the nuances of filling liabilities
Next, we compose a liability, which also contains a simplified balance sheet. A sample algorithm for filling it may look like this.
The liability of the corresponding type of balance consists of 6 indicators. The first records the data corresponding to section 3 in the standard form of the document.
The next 2 lines contain information reflecting the data on long-term liabilities of the company. Clause 1410 fixes borrowed funds, the repayment term is 1 year or more. Line 1410 contains loans of a different type, which also need to be paid for longer than 12 months.
Line 1510 records information on short-term loans, in paragraph 1520 there should be figures on accounts payable. Other liabilities should be reflected in line 1150.
Paragraph 1700 summarizes all the liabilities.
Now we have investigated both schemes, allowing us to answer the question of how to draw up a balance sheet. The example of the algorithm for filling out the corresponding document in a standard format, considered by us, is simple and logical. A simplified balance sheet is also well structured.
Applications
In some cases, this or that supplement to the balance sheet may be involved. The legislation of the Russian Federation provides for several varieties of the corresponding document. All of them are presented in the form of forms:
- report on changes in equity;
- report on the movement of funds;
- report on the intended use of funds.
A specific application to the balance sheet can be used based on the specifics of the enterprise, which prepares the appropriate type of reporting. It is possible to use a number of additional documents when processing the corresponding source. Among them - explanatory to the balance sheet. In it, in particular, the balance sheet indicators are deciphered, which can significantly increase the loyalty of organizations checking the document.
It is extremely important to correctly fill out the document in question. Assessment of the organization's balance sheet can be carried out not only by government bodies, but also by the interested partners of the company - creditors, investors. It is important that they have at their disposal figures reflecting the real situation in the company.