The balance sheet is the most important document of the financial statements of the institution. What is it, what are the rules for filling it out, types and classification?
Balance: types of balance
The variety of accounting codes is determined by a variety of factors: the nature of the information, which is based on the balance sheet, the time of its formation, direction, method of displaying information and other conditions. The types and forms of balance sheets are very diverse.
According to the method of displaying information,
types of balance sheet can be:
- balance, that is, reflected on the appointed date;
- negotiable - formed according to the turnover for a specific period.
By relationship to the time of reporting, the main types of balances are distinguished:
- introductory - at the time of activity;
- current - generated on the reporting date;
- liquidation - upon liquidation of the organization;
- rehabilitated - upon reorganization of an institution suitable for bankruptcy;
- separation - when dividing an enterprise into a number of companies;
- unifying - when combining small firms into one production.
The volume of data on institutions distinguish the main types of balance sheet:
- single - for one institution;
- consolidated - according to the sum of the data of some institutions;
- consolidated - according to several interdependent institutions, the internal expressions of the amounts of which are eliminated when summarizing the statements.
The balance of activities may be:
- predictable;
- final;
- reporting.
Depending on the nature of the initial information, the balance is:
- inventory (formed according to the results of the inventory);
- book (formed only according to credentials);
- general (formed according to the credentials providing for the results of the inventory).
By data display method:
- gross - with the inclusion of information stabilizing articles (depreciation, stocks, margin);
- net - with the removal of these stabilizing items.
Balance: types of balance sheet for formation assets
Schematically, the balance sheet is a table. The asset contains 2 divisions:
- "Fixed assets".
- "Current assets".
And displays the property of the company.
All company funds are grouped in the balance sheet asset, and their list of creation sources is in the balance sheet liability. Areas in the asset balance are placed in increasing liquidity mode. Debt contains 3 divisions: “Capital and reserves”, “Long-term liabilities” and “Short-term liabilities”.
Types of enterprise balance sheets
Accounting code may be carried out on the basis of:
- formation period;
- formation resource;
- data size;
- type of work;
- property model;
- display subject;
- purification method;
- according to the location of the asset and liability;
- according to the display pattern of the expression.
According to the time of formation, accounting balances are divided into:
- Introductory or initial - before its compilation, the company maintains an inventory of the property and analysis of all property.
- The current balance is drawn up from time to time in the process of the institution’s working hours. The current balance is of 3 types:
- The initial (incoming) is executed on the basis of the reporting time.
- The final (current) is drawn up after the reporting time.
- The preliminary is drawn up from the stages between the main and the end of the reporting time.
- The liquidator determines the financial position of the company on the date that it stops working for the past stage.
- Partial balances are drawn up in the process of dividing a large institution into a certain number of the smallest structural units, either during the transfer of the 1st or some structural units.
- Organizational is formed during the connection of some institutions in 1 large company, or in the process of joining one or some structural units to the provided institution.
Types of balance analysis
According to the formation keys are divided:
- the described balances are drawn up in accordance with the company’s money inventory; this kind of balance can be provided in simplified or simple types;
- theoretical codes are drawn up on the basis of the current accounting records (based on current documentation);
- the main balance is drawn up on the basis of accounting records and information on the inventory.
Balances are divided by type
By data size:
- individual balances display data on the work of only one institution;
- consolidated balances display data on the work of some institutions, are drawn up with the support of machine summation of money appearing in the notes of some individual balances, and the calculation of common results of an asset and liability.
In such balances, single graphs reflect the position of the money of individual institutions, and the column “Total” determines the general position of the money of absolutely all institutions in full.
To the liking of work:
- balance of the main production - in accordance with the statutory activities of the institution;
- the balance of auxiliary work reflects other types of work of the institution (trucking, public housing, etc.).
According to the configurations of the property, balances are presented in connection with the set coordination-legal figure:
- national;
- urban
- cooperative;
- general companies, etc.
Balance display
On the display subject, balances are divided into:
- independent - such a code is drawn up by companies that are represented by attorneys;
- special - this type of balance is drawn up by structural divisions belonging to one institution (attorney's representative).
According to the method of purification:
- “dirty” contains stabilizing notes; it is used for the purpose of academic studies, as well as for the purpose of improving informative functions;
- “clean” eliminates stabilizing notes; it is used in the current period of balance balance. It displays the actual value of the property of the institution.
Balance sheet content
At the location of the asset and liability balance, the code is divided into:
- balance in the figure - at the synchronous location of notes and areas of the asset and liability ;
- the balance in the figure of the report is at the alternate location of the asset and liability (balance sheet).
Types of balance by type of expression display:
- the balance vault is drawn up by counting the fragments (balance), according to the accounts;
- the reverse balance, except for fragments (balance), includes information on their movement (debit and credit expressions) and for the past period.
The following conditions are presented to each accounting code: honesty (veracity), reality, integrity, succession, clarity.
The equilibrium seems to be true, which was drawn up in accordance with the notes made on the basis of the information in the papers. Papers, in turn, display data on the work of the institution for a specific time period.
Balance, types of balance were considered above, proves and defines accounting data.
Veil Techniques
The following methods of veiling data are distinguished:
- The display of values in the balance sheet is not indicated in the place where they must be taken into account.
- The conclusion of accounts payable and receivable. The funds are required to appear, indeed according to the asset (debtors) and according to the liability (creditors). And in the code is only the difference among them (balance, balance).
- Types of balance - deduction of shortages of values due to the calculation of the discovered excesses.
- Incorrect (enhanced or decreased value of the amounts than was due) the formation of funds and reserves of the institution.
- The non-write-off of amounts to the costs of expenses related to the reporting phase.
- Introduction to the balance sheet of extraneous property.
- Formation of the code at the basis of information not substantiated by the documentation.
The reality of balance and honesty are controversial definitions. The code has the ability to be honest, but impossible.
There are concepts of balance sheet valuations: fair valuations, individual and book valuations.
The theory of fair values is based on the conviction of the realized values that were introduced during the sale of the property of the institution during the period of equilibrium formation.
The theory of individual assessments is based on the fact that the monetary value of an institution is directly dependent on the personal circumstances in which this system is located. This only object has the ability to have different prices at various institutions.
The theory of book ratings is based on a scale, in accordance with which the resources of the institution are listed (in books).
None of the concepts mentioned has the ability to provide a single solution to the scale problem. Thus, one should rely on the ratio of balance sheet estimates to established regulatory acts in force in the current period.