Composition and content of forms of financial statements. Hello student
A document defining the composition, content and methodological foundations of the formation accounting statements organizations (except for credit institutions, insurance organizations and budgetary organizations), is the Regulation on accounting "Financial statements of the organization" (PBU 4/99), approved by order of the Ministry of Finance of Russia dated 06.07.99, No. 43n.
The composition of the interim and annual financial statements is different (see Appendix 2). Interim financial statements include:
Profit and loss statement (form No. 2).
The organization can present in the composition of the interim financial statements, in addition to the above, other reporting indicators: Money(form No. 4), etc., as well as an explanatory note.
Annual financial statements include:
Balance sheet (form No. 1);
Profit and loss statement (form No. 2);
Statement of changes in equity (form No. 3);
Cash flow statement (form No. 4);
Appendix to the balance sheet (form No. 5);
Explanatory note;
An auditor's report confirming the accuracy of the organization's financial statements, if it is subject to mandatory audit in accordance with federal laws.
Some organizations may not complete annual financial statements. These include:
small businesses;
non-profit organizations.
The composition of the annual financial statements of small businesses depends on whether their activities are subject to statutory audit. If the organization is not obliged to audit the financial statements, then only the Balance Sheet and the Profit and Loss Statement can be presented as part of the annual financial statements. If the organization is obliged to conduct an audit, then, in addition to the Balance Sheet and the Profit and Loss Statement, provide annexes to them (for which data are available) and an Explanatory Note.
Non-profit organizations do not have to submit the Statement of Changes in Equity, Statement of Cash Flows and Appendix to the Balance Sheet as part of their annual financial statements. However, they are encouraged to draw up a Report on the intended use of the funds received (Form No. 6).
Each constituent part of the financial statements must contain the following data:
the name of the component part;
reporting date or reporting period for which the financial statements were prepared;
the name of the organization, including an indication of its organizational and legal form;
numeric presentation format accounting report.
Balance sheet- the main form of financial statements. It characterizes the property and financial condition of the organization at the reporting date (see Appendix 3).
The balance sheet reflects the balances of all accounts accounting at the reporting date. These indicators are shown in the balance sheet in a certain grouping.
The balance sheet is divided into two parts: an asset and a liability. The sum of the assets of the balance sheet is always equal to the sum of the liabilities of the balance sheet.
The asset balance includes two sections:
I - "Non-current assets";
II - "Current assets".
There are three sections in the liabilities of the balance sheet:
III - "Capital and reserves";
IV - "Long-term liabilities";
V - "Short-term liabilities".
Each of the sections of the balance sheet consists of subsections (groups of articles), which reflect the types of assets and liabilities of the organization. Subsections include separate items - lines intended for decoding balance sheet indicators.
The specific structure of the balance sheet is defined in section IV of PBU 4/99 "Financial statements of the organization".
Profits and Losses Report, is the second in importance (but not in importance) in the annual financial statements, and represents the financial results of the enterprise for the reporting period and the same period of the previous year (see Appendix 4).
The report indicates:
income and expenses from ordinary activities;
other income and expenses;
profit (loss) before tax;
net profit (loss) of the reporting period.
Accounting and reporting of income and expenses are regulated by PBU 9/99 "Income of the organization" and PBU 10/99 "Expenses of the organization".
This report serves as a link between the balance sheets of different accounting periods and shows how there have been changes in current balance compared to the previous one. Unlike the balance sheet, this document shows all interested parties not the general financial position of the organization, but how successfully it carries out its economic activities in reporting period... The report clearly demonstrates the efficiency of the company from the point of view of its owners and shareholders, since it reveals the essence of changes in the company's capital in the past / current period due to certain income and expenses.
Capital change statement discloses information on the movement of the authorized (pooled) capital (account 80), reserve capital(account 82), additional capital (account 83), as well as changes in the amount of retained earnings ( uncovered loss) organizations (account 84). In addition, this form indicates the amount of reserves that were formed and (or) used by the organization (see Appendix 5).
Small businesses that are not subject to mandatory audit, as well as non-profit organizations, have the right not to include a report on changes in capital in the financial statements. This right is also granted public organizations(associations), if they did not carry out entrepreneurial activities in the reporting period and did not have turnovers in the sale of goods (works, services), except for the retired property.
Cooperatives, non-profit organizations, budgetary and unitary enterprises (institutions) are not required to submit a report on changes in capital.
Cash flow statement characterizes changes in financial situation organization in the context of current, investment and financial activities(see Appendix 6).
Current activity means routine activities organizations: production of products, performance of work, provision of services, sale of goods, lease of property, etc.
Investment activity is the acquisition and sale land plots, real estate objects, equipment, intangible assets and other non-current assets; providing loans to other organizations and making other financial investments (issuing bonds and other long-term securities, purchasing securities of other organizations, etc.).
Financial activity is the activity of an enterprise related to the implementation of short-term financial investments, the issuance of bonds and other securities of a short-term nature, the disposal of shares and bonds previously acquired for a period of up to 12 months.
This form of annual financial statements reveals to users the picture of the organization's cash availability.
This form of the report reflects data on the actual receipt and expenditure of funds on accounts 50 "Cashier" (excluding subaccount " Cash documents"), 51" Current accounts ", 52" Currency accounts ", 55" Special accounts in banks "and 57" Transfers in transit ".
V annex to the balance sheet discloses information about the property, liabilities and capital of the organization, the value of which is reflected in the form No. 1. The report consists of 10 sections:
Intangible assets;
Fixed assets;
Profitable investments in material values;
R&D expenses;
Development costs natural resources;
Accounts receivable and accounts payable;
Expenses for ordinary activities (by cost element);
Security;
State aid.
If the standard form will be used as an attachment to the balance, the blank lines are deleted from it.
V explanatory note provides additional information required to characterize financial condition organizations, and separate indicators of the forms of financial statements are deciphered.
But a standardized form or structure explanatory note these documents are not defined. Therefore, organizations have the right to group the constituent parts of the explanatory note at their discretion, but so that the information component meets all the requirements of the above normative documents.
For example, the structure of an explanatory note may be as follows:
General information;
Basic Provisions accounting policies organizations for accounting and tax purposes;
Decoding of individual reporting indicators;
Information about related parties;
Financial analysis economic activity organizations;
Founders' decisions based on the results of the reporting year.
The explanatory note should report on the facts of non-application of accounting rules in cases where they do not allow to reliably reflect the property status and financial results of the organization, with appropriate justification. Otherwise, non-application of accounting rules is considered as evasion from their implementation and is considered a violation of the law. Russian Federation about accounting. In an explanatory note to the financial statements, the organization announces changes in its accounting policy for the next reporting year.
Audit report is part of the financial statements that the organization must submit to the tax office. Not all organizations are obliged to conduct an annual audit of accounting and preparation of accounting (financial) statements and provide an audit opinion. In particular, a statutory audit is carried out if:
the organization is organized in the form of an OJSC;
the volume of proceeds from the sale of products (works, services) for the year exceeds 500,000 minimum wages;
the amount of balance sheet assets at the end of the reporting year exceeds 200,000 minimum wages;
the organization is a credit institution, an insurance organization or a mutual insurance society, a commodity or stock exchange, investment fund, a state non-budgetary fund, the source of which is provided by the legislation of the Russian Federation compulsory deductions, produced by individuals and legal entities, by a foundation, the sources of which are voluntary contributions from individuals and legal entities;
statutory audit in relation to these organizations or individual entrepreneurs provided by federal law.
The final part audit report, issued as a result of the statutory audit, must be attached to the financial statements.
While developing the accounting forms, the Ministry of Finance of Russia could not take into account the specifics of the activities of each organization. Therefore, if the content of standard samples does not reflect any peculiarities, the accountant has the right to clarify the existing forms or develop their own reporting forms. They must also answer general principles build and be attached samples in accounting policies.
However, it is hardly correct to consider the balance as the "main" form financial statements... After all, "since accounting reflects economic processes, insofar as the information registered, accumulated, generalized, stored and transmitted to users for decision-making must fix, firstly, the values of the magnitude of each of the observed parameters at each specific moment in time, and secondly, its changes over specific fixed periods of time " The balance contains only the values of the quantities characterizing the financial condition of the enterprise at a certain point in time, and does not allow tracing the changes that led to the formation of these values.
To describe the dynamics of the functioning of the enterprise, that is, to describe the changes in the values characterizing the state of the enterprise, along with the balance sheet, the statement of financial results, the statement of equity capital and the statement of cash flows are used. These three statements, in contrast to the balance sheet, which is a statement to date, are statements for the period.
Taking into account the above, we can conclude that the existing forms of financial reporting are complementary, and it is incorrect to assign any one of them the status of "main" or "main" form of reporting.
They may not submit in the financial statements the Statement of Changes in Capital (Form No. 3), Statement of Cash Flows (Form No. 4), Appendix to the Balance Sheet (Form No. 5) in the absence of relevant data, but it is recommended that they be included in the financial statements Report on the targeted use of the funds received (form No. 6).
Public organizations (associations) that do not carry out entrepreneurial activity and not having, apart from the retired property, sales of goods (works, services), the statement of changes in capital (form МЗ), statement of cash flows (form No. 4), Appendix to the balance sheet (form No. 5) and an explanatory note.
The provided financial statements are attached to cover letter organization, drawn up in the prescribed manner and containing information on the composition of the submitted financial statements.
The need to draw up financial statements is generated by one of the fundamental principles of accounting - the principle of going concern of the organization.
V modern conditions accounting financial statements are one of the main sources of information not so much for the management of various levels of the organization itself, but for external users. In accordance with this, the financial statements should create the necessary conditions users of information for making management decisions, for interacting with this organization. In turn, this is achieved by the adequacy of the reflection of the state of the economic resources of the organization. At the same time, such adequacy implies the presentation in the financial statements of assets, liabilities to the organization, income, expenses, profits and losses and the capital of the organization. Data quality characteristics accounting statements determine its content. In turn, the content of financial statements cannot be considered without its basic concepts, which include:
- a system of accounting indicators (in kind, monetary terms, etc.);
- economic activity of a commercial organization;
- coverage period;
- accounting data (indicators of synthetic and analytical accounts);
- compulsory reporting.
General requirements for the preparation of financial statements
When preparing financial statements, the following must be observed General requirements:
- completeness: the financial statements must include the indicators necessary to form a reliable and complete picture of the financial position of the organization, the financial results of its activities and changes in its financial position;
- materiality: an organization can reflect individual indicators with an additional line if they are significant (materiality - 5% or more of the total total of the data indicator) and if non-disclosure this indicator can influence the economic decisions of users made on the basis of reporting information;
- neutrality;
- reliability: the information provided in the reporting must be substantiated and confirmed by the results of the inventory and the conclusion of an independent audit firm;
- timeliness: reporting to the relevant authorities on time;
- accessibility: reporting should be available to all interested users of financial statements;
- identity: equality of synthetic and analytical accounting data;
- comparability of reported data with data for the period preceding the reporting period;
- publicity: publication of financial statements in newspapers, magazines, booklets and other printed publications available to users of financial statements.
When an organization independently develops accounting forms based on sample forms, the general requirements for accounting statements, which are listed above, must be observed.
Separate indicators of form No. 5 "Appendix to the balance sheet", according to the sample form, can be presented in the form of independent forms of financial statements or included in an explanatory note.
The following data must be present on the forms of financial statements:
- name of the reporting form;
- indication reporting date or the reporting period (as of April 1 or for the I quarter);
- full name of the legal entity in accordance with the constituent documents;
- Kind of activity;
- organizational and legal form;
- unit;
- location (only on form No. 1);
- the date of approval (the established date for the annual financial statements is indicated);
- date of dispatch / acceptance (date of dispatch or the date of its actual transfer of ownership);
- data are given in thousand rubles. or million rubles. no decimal places.
There should be no erasures or blots in the financial statements.
The procedure for the formation of financial statements
When drawing up and submitting financial statements, one should be guided by the Law “On Accounting”; Accounting Regulations (hereinafter - PBU 4/99) "Financial statements of the organization" and other standards; Chart of accounts of accounting, Order of the Ministry of Finance "On the forms of financial statements and instructions on the procedure for drawing up and submitting financial statements" dated July 22, 2003 No. 67n.
In cases where the organization reveals an incorrect reflection of business transactions of the current period before the end of the reporting year, corrections are made by entries in the corresponding accounting accounts in the month of the reporting period in which the distortions were identified.
When incorrect reflection is detected business transactions in the reporting year after its completion, but for which annual reporting not approved in accordance with the established procedure, corrections are made by entries from December of this reporting year. If the reports are approved, no corrections are made to them. If the data should be deducted from the relevant indicators or have a negative value, then when reflected in the financial statements, they are indicated in parentheses.
Non-profit organizations in the Balance Sheet (Form No. 1) in the "Capital and reserves" section instead of the articles "Authorized capital", "Reserve capital", "Retained earnings (uncovered loss)" include a group of articles "Target financing".
V annual balance data on the groups of articles "Reserve capital", "Retained earnings (uncovered loss)" are shown taking into account the consideration of the results of the organization's activities for the reporting year, decisions made to cover losses, pay dividends, etc.
The data of the Statement of Cash Flows (Form No. 4) should characterize changes in the financial position of the organization in the section of current investment and financial activities. Information about the organization's cash flow is presented in the currency of the Russian Federation.
Annual financial statements must be submitted to the appropriate authorities no earlier than 60 days after the reporting year and no later than 90 days after the end of the reporting year.
The asset and liability of the balance sheet are balanced by the corresponding items in the liability and asset. Profit can be interpreted as the amount of the increased, and the loss as the amount of the organization's own funds spent.
The content of the balance sheet and the rules for evaluating its items
Balance sheet is a method of grouping and reflecting the state of property, equity and liabilities in monetary value at a certain date for a particular organization.
In appearance balance sheet- this is a two-sided table: asset (property of the organization) and liability (equity + liabilities of the organization).
The balance sheet asset consists of two sections: Non-current assets (I) and Current assets (II).
The balance sheet liability consists of three sections: Equity and reserves (III), Long-term liabilities (IV) and Short-term liabilities (V).
The rules for assessing balance sheet items are established by the provisions on accounting and financial reporting. When compiling the balance sheet, the following valuation methods are used:
- Fixed assets and intangible assets in the balance sheet are reflected at their residual value.
- Goods are reflected at purchase price (by actual cost acquisition).
- Raw materials and basic materials, fuel, spare parts and other material assets are recorded at actual cost.
- Finished products are reflected at their actual cost, either at the standard production cost, or by direct cost items (excluding account 26 "General Business Expenses").
- Shipped goods are reflected at their actual cost, either at the standard production cost, or by direct cost items (account 45 "Goods shipped").
- Material assets for which the price has decreased during the year, or which are morally obsolete or have partially lost their original qualities, are reflected at the price of their possible sale, if this price is lower original cost procurement. For this, the organization creates a reserve for the reduction in the value of material assets. In the balance sheet, such material values are shown minus the amount of the reserve.
- Work in progress in mass and batch production can be reflected either at the standard cost, or by direct cost items, or by the cost of raw materials, materials, semi-finished products; in case of a single production - according to the actual costs incurred.
- The size of the authorized capital is reflected in the amount registered in the constituent documents.
- Settlements with debtors and creditors are reflected by each party in its financial statements in the amounts arising from the accounting records and recognized by it as correct.
- The amounts reflected in the financial statements for settlements with banks and the budget must be agreed upon and identical.
- Debt on received loans and credits is reflected including the interest payable at the end of the reporting period.
- Leftovers currency funds on foreign currency accounts, securities, receivables and payables in foreign currency are reflected in the financial statements in rubles at the exchange rate of the Central Bank of the Russian Federation in effect at the reporting date.
- The financial result is reflected as retained earnings or uncovered loss of the reporting period.
- Financial investments are reflected as:
- securities that are quoted - at the current market value at the end of the reporting period;
- non-quoted securities - at the cost of their acquisition; if these securities are depreciated, then they are reflected less the provision for depreciation of securities (account 58 "Financial investments" minus account 59 "Provisions for the depreciation of financial investments");
- loans issued, purchased receivables (cession agreement) - at their actual cost.
Contents of the Profit and Loss Statement (Form No. 2)
All income and expenses in the Profit and Loss Statement (Form No. 2) are grouped in the manner prescribed by PBU 9/99 "Income of the organization" and PBU 10/99 "Expenses of the organization". In accordance with PBU 9/99 and PBU 10/99, Form No. 2 includes the following types of income and expenses: income and expenses from ordinary activities; other income and expenses (operating and non-operating).
In the standard form of the report, there are no lines to reflect extraordinary income and expenses, therefore, if the organization has data to fill in these lines, then such lines must be entered additionally.
Line 070 indicates the interest paid by the entity on bonds or loans and borrowings in parentheses.
Line 080 “Income from participation in other organizations” reflects income from equity participation in the authorized capital of other organizations, includes interest and other income on securities, as well as profit from joint activities (simple partnership). Cash incomes are reflected in accounting as they are declared as a source of payment.
Line 090 reflects other operating income. These are receipts for the lease of property and intangible assets, from the sale of fixed assets and other property (specified in PBU 9/99, clause 7).
Line 100 “Other operating expenses” shall reflect expenses related to the provision for temporary use of fixed assets, intangible assets, expenses related to participation in the authorized capital of other organizations, expenses related to the sale, disposal and other write-off of fixed assets and other assets. These costs are shown in parentheses.
On line 120 "Non-operating income" shall be reflected:
- fines, penalties, forfeits received from counterparties or awarded by a court decision for violation of the terms of business contracts;
- assets received free of charge;
- receipts related to compensation for losses caused to the organization;
- positive exchange rate differences; profit of previous years revealed in the reporting year;
- the amount of accounts payable and receivable after the expiration of the limitation period;
- income related to compensation for losses and other extraordinary income(PBU 9/99 p. 8).
Non-operating expenses are reflected in credit 91-1.
Line 130 "Non-operating expenses" shall reflect:
- fines, penalties, forfeits for violation of business contracts, recognized to be paid to the counterparty; compensation for losses caused to the organization; losses of previous years;
- the amount of receivables for which the limitation period has expired; negative exchange rate differences;
- costs and expenses and other non-operating expenses(PBU 10/99 p. 12).
This amount on line 130 is reflected in parentheses on debit 91-2.
Line 140 “Profit (loss) before taxation” shows the financial result (profit / loss) obtained from the activities of the organization.
Line 140 = 050 + 060 + 080 + 090 + 120 - 070 - 100 - 130.
If the organization has received a loss, it is reflected on line 140 in parentheses.
Line 141 "Deferred tax assets". To account for deferred tax assets account 09 serves, and if the balance sheet indicates the debit balance for this account at the end of the reporting period, then in the form No. 2 the turnovers on it are reflected. Therefore, line 141 shows the turnover for this account minus the credit turnover. If the credit turnover exceeds the debit turnover, then this amount is shown in parentheses.
Line 142 "Deferred tax liabilities" shows the difference between the turnover on the credit of account 77 "Deferred tax liabilities" and the turnover on the debit of this account. If the loan turnover is less than the debit turnover, then the amount is shown in parentheses (OK. Line 150 "Current income tax" reflects the amount of income tax accrued to be paid to the budget. This line also reflects the amount of fines payable to the budget sanctions for violations of tax legislation, which are recorded directly on the debit of account 99 "Profits and losses" and credit of account 68 "Calculations of taxes and fees".
Line 190 "Net profit (loss) of the reporting period" reflects the total amount of net profit (loss) received by the organization. This amount is equal to either the balance on the credit of account 99 "Profits and losses", or the balance on the debit of account 99 "Profits and losses" at the end of the reporting period. The loss should be shown in parentheses.
In PBU 9/99 and PBU 10/99, such a category of assets and liabilities as "extraordinary income and expenses" is allocated - these are receipts and expenses arising as a consequence of extraordinary circumstances (natural disasters, fires, accidents, etc.). Accounting for extraordinary income and expenses is carried out on account 99 "Profits and losses".
To reflect these costs, an additional line is introduced into Form No. 2 "Emergency Costs", the amount for which is shown in parentheses. Extraordinary income is the remnants of materials, spare parts from destroyed fixed assets and other tangible assets. This amount is shown on the additionally entered line "Extraordinary income".
For reference, in form No. 2, they are shown on line 200 "Permanent tax liabilities (assets)". These liabilities arise when expenses are fully recognized in accounting, and either are not reflected in tax accounting at all, or are reflected in accordance with established standards. For example, in accounting, entertainment expenses amounted to 10 thousand rubles for the reporting period, and in tax accounting, according to the standard, - 8 thousand rubles.
10,000-8,000 = 2,000 rubles. - constant difference, 2000 x 24% = 480 rubles. - permanent tax liability (D-t 99 - "Permanent tax liabilities" K-t 68 Calculations of taxes and fees ").
For reference, two more indicators are shown on the profitability of the stock:
- Basic earnings (loss) per share. The calculation is done as follows: first, the weighted average is determined common shares, for this, the number of ordinary shares on the first day of each month of the reporting period is summed up and divided by the number of months. After that, the amount of dividends on preferred shares is deducted from the net profit and the remainder is divided by the resulting weighted average number of ordinary shares.
- Diluted earnings (loss) per share. For the calculation, it is assumed that all preferred shares have been exchanged for ordinary shares. After that, the net profit is divided by the total number of ordinary shares - those that were from the very beginning, and those received as a result of the conversion of preferred shares.
For example, according to the results of 2003, the organization received a net profit of 500 thousand rubles. Weighted average number of shares for 2003 And thousand units. In addition, the organization issued in 2003 1 thousand units of preferred shares with the right to receive dividends of 20 rubles. for each and the right to convert one preferred share into three ordinary shares.
Basic earnings per share:
Diluted earnings per share:
In a special table for form No. 2, the most significant types of non-sales and operating income and costs. In particular, the received and paid fines for violation of the terms of business contracts, profit or loss of previous years, exchange rate differences, deductions to estimated reserves, etc. are indicated here.
This is the textual part of the annual accounts.
The information in the explanatory note can be presented in four sections.
Section I. Information about the organization, which provides the following information:
- name, registration number of the organization, date state registration;
- information about the registrar of the company (applies to joint stock companies - JSC);
- the number of shareholders registered in the register; information about the largest shareholders (name of shareholders, amount of shares in thousand rubles, number of shares, share in the authorized capital);
- information about the management structure; information on the types of activities of the organization; information about the presence of branches and separate structural units;
- composition of members of the board of directors (supervisory board), members of the executive body (for joint-stock companies - JSC).
Section II. Disclosure of information to the balance sheet and income statement. The following paragraphs can be distinguished.
2.1. Methodological aspects of accounting policies: in accordance with sect. III PBU 1/98 "Accounting policy of the organization" in this section should disclose the methods of accounting adopted in the formation of the accounting policy, which significantly affect the assessment and decision-making by interested users of financial statements. The composition and content of disclosed information on accounting policies on specific accounting issues are established by the relevant provisions on accounting. These accounting methods include:
- the procedure for recognizing income as income from ordinary activities and other income; the procedure for recognizing revenue with a long production cycle as soon as work, services, products are ready; methods of property valuation;
- method of calculating depreciation on fixed assets and intangible assets;
- the procedure for accounting for the repair of production fixed assets and assets;
- revaluation of fixed assets; the procedure for reflecting the process of purchasing and procurement of materials in the accounting records;
- method of writing off materials released for production; method of evaluating goods;
- accounting of expenses for procurement and delivery of goods to the warehouse; issue accounting option finished products; assessment of work in progress; write-off procedure general operating expenses; ways of distributing indirect costs between objects of calculation;
- the procedure for creating reserves for doubtful debts; procedure for creating a reserve forthcoming expenses and payments; option for accounting, distribution and use of profits;
- the procedure for writing off deferred expenses; the procedure for recognizing commercial and administrative expenses.
2.2. Changes in accounting methods and their consequences: changes in accounting policies that have a significant impact on the financial position of the organization, cash flow, financial results of the organization. They are valued in monetary terms and are subject to separate disclosure in the financial statements. Information about them should include:
- the reason for the change in accounting policy;
- assessment of the consequences of changes in monetary terms;
- indications that the corresponding data of the periods preceding the reporting year included in the financial statements for the reporting year have been adjusted;
- changes in accounting policies for the year following the reporting year.
2.3. Disclosure of information about events after the reporting date: (PBU 7/98 "Events after the reporting date"). All significant events that occurred after the reporting date (after December 31) and related to the activities of the organization are subject to reflection in the financial statements for the reporting year. The consequences of events that occurred after the reporting date are reflected in the financial statements by clarifying data on the relevant assets, liabilities of the organization, or by disclosing the relevant information in an explanatory note. In this section, information on annual dividends based on the results of the organization's work for the reporting period and other areas of profit use must be disclosed without fail.
2.4. Disclosure of information on contingent facts of economic activity: (PBU 8/01 "Contingent facts of economic activity"). These are some unresolved issues as of December 31 of the reporting year.
2.5. Disclosure of information on affiliated persons (PBU 11/00 “Information on affiliated persons”). Affiliates are legal entities and individuals capable of influencing the activities of an organization. Joint stock companies are obliged to keep records of affiliated persons. Information about these persons can be presented as follows:
- name of a legal entity or individual; date of foundation;
- the basis by virtue of which the person is recognized as affiliated;
- number of shares and type of shares.
2.6. Disclosure of information on state aid: (PBU 13/00 "Accounting for state aid"). This section specifies the types of government assistance (investments, loans, tax exemptions, etc.)> its amount, terms and conditions.
2.7. Disclosure of information on discontinued operations: (PBU 16/02 “Information on discontinued operations”). The facts of the termination of the production of certain types of products, works, services, the reasons for the termination of operations and the assessment in monetary terms of losses associated with the terminated operations are indicated.
2.8. Information about the organization's segments: (PBU 12/00 "Information by segments"). Information about firms and other structural divisions of the organization is disclosed and the performance of these segments is assessed.
2.9. Financial liabilities: discloses information on all issued and received collaterals for obligations and payments.
Section III. Analytical part: This section of the explanatory note is prepared by all economic services organizations. The section provides data from the analysis of indicators of the organization's production activities; factors that influenced the change in indicators; trends in indicators. These are indicators for assessing the business activity of an organization, its profitability, assessment property status(return on assets and capital intensity), assessments of liquidity, financial stability, etc. Information on these indicators is presented in analytical tables, to which conclusions, explanations and economic characteristics calculated indicators.
Section IV. Information accompanying financial statements: (PBU 4/99 section VIII). This section can provide information on the planned development of the organization, on the estimated capital and long-term investments, activities of the organization in the field of R&D (PBU 17/02 "Accounting for the costs of research, development and technological work"), the implementation of environmental measures, etc.
Types and content of other forms of financial statements
Statement of changes in equity (form No. 3)
This reporting form consists of two sections and a reference.
In the first section - "Changes in capital" - reflect the occurred movement in constituent parts equity capital: statutory, additional, reserve, retained earnings (uncovered loss). Changes are shown in dynamics for the previous and for the reporting years. The decoding of the indicators that influenced the change in the value of equity capital is given. It is necessary to show how the revaluation of fixed assets (if any) affected the amount of additional capital; the effect of an additional issue of shares or an increase in the par value of shares by the amount of the authorized capital, etc.
The second section - "Reserves" - shows the balances at the beginning and end of the reporting period and the movement of reserves in the organization.
In the line "Reserves formed in accordance with the legislation" joint stock companies show changes in the amount of reserve capital.
On the line "Reserves formed in accordance with the constituent documents" organizations of other forms of ownership reflect the change in the composition of the reserve capital, if its formation is provided for in their constituent documents.
The line "Estimated reserves" contains data on such reserves created by the organization as "Provisions for depreciation of material assets" (account 14), "Provisions for impairment of financial investments" (account 59), "Provisions for doubtful debts" (account 63) ...
The line "Provisions for future expenses" presents data on the reserves created to cover the expenses of the organization in the future. These can be reserves for the forthcoming payment of vacations to employees, for the repair of fixed assets, for warranty repair of equipment, etc. Such reserves are accounted for on account 96 "Reserves for future expenses" by type of reserves.
The certificate contains data on net assets at the beginning and end of the reporting year and funds received from the budget and extrabudgetary funds for expenses for ordinary activities and for expenses for capital investments, including by areas of expenditures for the reporting and previous years.
Cash flow statement (form No. 4)
Form No. 4 reflects data on the organization's cash flow recorded on accounts 50 “Cashier”, 51 “Current accounts”, 52 “Currency accounts”, 55 “Special accounts in banks”. Form No. 4 is in rubles.
If the organization has funds in foreign currency, then first make up a calculation in foreign currency for each of its types (euros, dollars, pounds, etc.). After that, the data of each calculation, drawn up in foreign currency, are recalculated into rubles at the exchange rate of the Central Bank of the Russian Federation as of December 31 of the reporting year. We summarize the obtained data for individual calculations and fill in the corresponding lines of Form No. 4.
When filling out this report, cash flows are distributed among three types of activities of the organization:
- current - the main (statutory) activities of the organization aimed at the implementation of its main goals and objectives (release of finished products, sale of goods, provision of work, services);
- investment - activities related to investments in real estate, equipment, intangible and other non-current assets. In addition, this also includes long-term financial investments (purchase of securities, deposits in authorized capital other organizations, etc.); financial - these are loans and borrowings received, interest on financial investments, etc.
Appendix to the balance sheet (form No. 5)
In this form, the indicators of the balance sheet are deciphered in detail. The form consists of several sections, each of which shows changes for the reporting period for certain types of property and liabilities.
The section "Intangible assets" provides a breakdown of intangible assets by type, and also provides data on the amounts of accrued depreciation at the beginning and end of the year.
The section "Fixed assets" provides information on the initial cost of all fixed assets on the balance sheet of the organization, broken down by groups: buildings, structures and transmission devices, machinery and equipment, etc. The section reflects the cost of objects at the beginning of the reporting year, the cost of fixed assets and capital investments received by the organization in the reporting year, as well as the value of the retired property.
The total amount of accrued depreciation on fixed assets is shown with subsequent breakdown.
If the organization has revalued property, plant and equipment, the result of the revaluation is reflected in the “Reference” section.
The section "Profitable investments in material assets" is devoted to property leased out (leased) and values presented under a rental agreement.
The depreciation amount accrued on this property is reflected in the last line of the section.
In the section "Expenditure on R&D" disclose information on account 08 "Investments in non-current assets" subaccount "Performance of R&D".
The section "Expenses for the development of natural resources" reflects the organization's expenses for the exploration of natural mineral deposits, their assessment, test drilling of wells, etc.
The section "Financial investments" describes in detail the indicators of the lines "Long-term financial investments" and "Short-term financial investments" of the balance sheet. Decoding is given by type of financial investment. The section also indicates the amount of financial investments in securities that are quoted on the stock market.
The difference between the balance sheet value of the securities and the market value is reflected in the “For reference” section.
The section "Accounts receivable and payable" details the accounts receivable reflected in the asset of the balance sheet and the accounts payable reflected in the liability of the balance sheet. Accounts receivable and payable are shown at the beginning and end of the reporting period.
In the section "Expenses for ordinary activities (by cost elements)" the organization's expenses for the reporting and previous years are presented. When filling out this section, expenses are allocated to the main elements in accordance with PBU 10/99 "Organization's expenses".
To fill in the "Collateral" section, the data of the off-balance account 008 "Collateral for obligations and payments received" is used, which reflects the guarantees received by the organization in the form of bills of exchange, and the property that is pledged, as well as data reflected on the off-balance account 009 "Collateral for obligations and payments issued "in the form of guarantees issued by the organization.
The section "State aid" is filled in by organizations that received funds from the budget in the reporting or previous year. State aid can be provided in the form of subsidies, budget loans(except tax), financial assistance, etc. Data on budget financing to fill in the section are taken from the turnover on account 86 "Target financing".
Control questions
- Give the concept of the definition of "accounting".
- List the forms of financial statements.
- Who is required to submit financial statements?
- By what estimate are fixed assets and intangible assets reflected in the balance sheet?
- What sections are highlighted in the income statement?
- What are the deadlines for submitting the annual financial statements?
- Briefly talk about the structure of the balance sheet.
- What sections should the explanatory note contain?
- What explains the equality of the asset and liability of the balance sheet?
- Explain why receivables fits in the asset balance?
- For what purposes is the Cash Flow Statement drawn up?
- How are WIP costs estimated?
- Which organizations should provide an auditor's report on the reliability of the parity in the financial statements?
- What forms are included in the interim financial statements?
- What forms are small businesses entitled to submit as part of interim reporting?
- What kind required details should contain accounting forms?
- How are financial investments evaluated in accounting and reporting?
- Which organizations are required to publish their reports?
- What is the timing of the publication of financial statements?
- What is meant by current, investment and financial activities?
Financial statements - one system data on the property and financial position of the organization and on the results of its economic activities, compiled on the basis of accounting data in accordance with established forms. The financial statements of the organization (except for budgetary and insurance organizations and banks) consist of:
balance sheet (f. 1);
profit and loss statement (f. 2);
statement of changes in equity (f. З);
cash flow statement (form 4);
appendices to the balance sheet (form 5);
explanatory note;
an auditor's report confirming the reliability of the organization's financial statements if it is subject to mandatory audit in accordance with federal law.
The content and forms of the balance sheet, profit and loss statement, other reports and applications are applied sequentially from one reporting period to another. In the financial statements, data on numerical indicators are given for at least two years - reporting and preceding reporting. If incompatible with the data for the reporting period, they are subject to correction based on the rules established regulations... The data that have been adjusted are necessarily reflected in the explanatory note along with an indication of the reasons that caused this adjustment.
In the financial statements, after its approval, it is possible to change the data in which distortions were found, but an offset between items of assets and liabilities, items of profit and loss, except for cases when such offset is provided for by the rules established by regulatory enactments, is unacceptable.
Organizations, based on the results of their economic activities, draw up monthly, quarterly and annual financial statements; monthly and quarterly financial statements are interim.
The reporting year for all organizations is from January 1 to December 31 of the calendar year inclusive. The first reporting year for created organizations is considered from the date of their state registration to December 31, for organizations created after October 1 - from the date of state registration to December 31 of the following year inclusive.
Organizations, with the exception of budgetary organizations, must submit annual and quarterly reports:
to participants or owners of their property;
territorial bodies state statistics at the place of their registration;
other executive authorities, banks, financial authorities tax office and other users for whom, in accordance with current legislation The Russian Federation is entrusted with checking certain aspects of the organization's activities and obtaining relevant reports.
State and municipal unitary organizations submit financial statements to bodies authorized to manage state property... Organizations are obliged to submit financial statements to the specified addresses, one copy free of charge. All of them, with the exception of budgetary ones, submit quarterly financial statements within 30 days after the end of the quarter, and annual ones within 90 days after the end of the year, unless otherwise provided by the legislation of the Russian Federation. Annual financial statements must be submitted no earlier than 60 days after the end of the reporting year. The annual and quarterly financial statements, prior to their submission to the above addresses, are considered and approved in accordance with the procedure established by the constituent documents. If technical capabilities are available, accounting statements can be presented on a floppy disk or other machine carrier of reporting information.
Budget organizations submit monthly, quarterly and annual financial statements higher authority within the time frame set by him.
The date of submission of financial statements for a one-city organization is the day of its actual transfer of ownership, and for nonresident organizations - the date of its mailing. When the reporting date coincides with a weekend (non-working) day, the reporting date is postponed to the first working day following it. Organizations publish financial statements and the final part of the auditor's report, if provided for by Russian legislation. The publication is made no later than June 1 of the year following the reporting year, in newspapers, magazines or by distributing brochures, booklets and other publications among users. Organizations, including subsidiaries and dependent companies (if any), draw up consolidated financial statements in the manner prescribed by the Ministry of Finance of the Russian Federation, which is signed by the head and chief accountant.
According to Art. 13 of the Law on Accounting, the accounting statements of organizations, with the exception of budgetary ones, include:
- balance sheet (form No. 1);
- profit and loss statement (form No. 2);
- annexes to them, provided for by regulatory enactments;
- explanatory note;
- an auditor's report confirming the accuracy of the organization's financial statements, if it is subject to mandatory audit in accordance with the law.
The balance sheet characterizes the property and financial position of the organization as of the reporting date, that is, the date as of which the organization must prepare financial statements (the last calendar day of the reporting period).
Organization balance- this is independent balance legal entity. In accordance with the legislation, the financial statements of an organization must include indicators of the activities of branches, representative offices and other divisions, including those allocated to a separate balance sheet.
A separate balance sheet is understood as a system of indicators formed by a division of an organization and reflecting its property and financial position as of the reporting date for the needs of managing the organization, including drawing up financial statements.
If an organization has subsidiaries and affiliates, this organization, in addition to its own accounting report, prepares consolidated financial statements, including the indicators of the reports of such companies. The consolidated balance sheet is a system of indicators reflecting the property and financial position at the reporting date of a group of related organizations: the parent organization, subsidiaries and dependent companies. The procedure for drawing up the consolidated balance sheet is determined in the Order of the Ministry of Finance of the Russian Federation of December 30, 1996 No. 112 "On methodological recommendations for the preparation and presentation of consolidated financial statements."
In the balance sheet, the property and financial position of the organization is represented by data on economic assets - assets and their sources - liabilities. Long-term (over one year) and short-term (up to one year) assets and liabilities are recorded separately.
TO assets, for example, includes fixed assets, intangible assets, financial investments, inventories, accounts receivable, cash.
As part of liabilities the capital and reserves of the organization are taken into account, borrowed funds, accounts payable, etc.
In some cases, the procedure for determining the cost net assets approved by regulatory legal acts... For example, the Order of the Ministry of Finance of the Russian Federation and the Federal Commission for the Securities Market of September 12, 2003 No. 83n, 03-158 / pz1 approved the Procedure for assessing the value of the net assets of insurance organizations created in the form of joint-stock companies, by the Order of the Ministry of Finance of the Russian Federation and the Federal Commission for the Market securities dated January 29, 2003 No. Yun, 03-6 / pz2 -Procedure for assessing the value of the net assets of joint stock companies.
So, under the net asset value joint stock company means the value determined by subtracting from the sum of the assets of the joint-stock company, taken into account, the amount of its liabilities, taken into account.
The composition of assets taken into account includes:
- non-current assets reflected in the nerve section of the balance sheet (intangible assets, fixed assets, construction in progress, profitable investments in tangible assets, long-term financial investments, other non-current assets);
- current assets reflected in the second section of the balance sheet (stocks, value added tax on acquired values, accounts receivable, short-term financial investments, cash, other current assets), except for the value in the amount of actual costs of buying out own shares bought out by the joint-stock company from shareholders for their subsequent resale or cancellation, and debts of participants (founders) for contributions to the authorized capital.
The structure of liabilities taken into account includes:
- long-term liabilities for loans and credits and other long-term liabilities;
- short-term liabilities on loans and credits;
- accounts payable;
- indebtedness to participants (founders) for the payment of income;
- reserves for future expenses;
- other short-term liabilities.
The valuation of net assets is made by the joint stock company on a quarterly basis and at the end of the year as of the respective reporting dates.
In contrast to the balance sheet, which reflects the statics of the property status of the organization, the profit and loss statement characterizes the financial results of the organization's activities for the reporting period, i.e. the period for which the organization prepares reports (quarter, six months, nine months, year).
In order to fully reflect the financial results of the organization's activities, this document should contain the following indicators:
- proceeds from the sale of goods, products, works, services (net of value added tax, excise taxes and similar and mandatory payments, i.e. net proceeds);
- the cost of goods, products, works, services sold (except for commercial and administrative expenses);
- gross profit;
- commercial expenses (costs associated with sales, distribution costs);
- administrative expenses;
- profit (loss) from sales;
- interest receivable or payable (amounts due in accordance with contracts to be received or payable dividends, interest on bonds, deposits, etc.);
- income from participation in other organizations (income from financial investments in securities of other organizations, as well as income from participation in joint activities without forming a legal entity);
- other operating income / expenses (for example, data on transactions related to the movement of property);
- other non-operating income / expenses;
- profit (loss) before tax;
- Deferred tax assets;
- deferred tax liabilities;
- Current income tax;
- net profit (loss) of the reporting period.
The financial statements include supplements to the balance sheet and income statement... They should disclose the accounting policy of the organization and provide users of financial statements with additional data that is inappropriate to include in the balance sheet and statement of financial results, but which are necessary for users of financial statements to realistically assess the property and financial situation of the organization and financial result her activities.
The composition of the interim and annual financial statements includes the following appendices: Statement of changes in equity (Form 3), Statement of cash flows (Form 4), Appendix to the balance sheet (Form 5), Report on the intended use of funds received (Form 6).
V explanatory note a brief description of the organization's activities is given, the main performance indicators are indicated, the factors that influenced its results in the reporting year are given, and other information necessary to obtain a more complete and objective picture.
Audit report confirms the accuracy of the organization's financial statements, if, according to legislative acts, is subject to mandatory audit.
As defined by the Federal Law of August 7, 2001 No. 119-FZ "On Auditing Activities" 1, a mandatory audit is carried out if an economic entity meets one of the established criteria related to:
1) with organizational and legal form. According to this criterion, the annual audit open joint-stock companies are subject, regardless of the number of shareholders, type of activity and size of the authorized capital;
2) with the type of activity. According to this criterion, banks and other credit institutions, the Bureau credit histories; insurance organizations and mutual insurance companies; commodity and stock exchanges; investment institutions; state extrabudgetary funds, the source of the funds of which are the mandatory contributions provided by the legislation, made by individuals and legal entities; funds, the sources of which are the voluntary contributions of individuals and legal entities;
3) with financial indicators. Business entities are subject to mandatory audit if they meet at least one of the following conditions:
- the volume of proceeds from the sale of products, works or services per year is 500 thousand times higher than the minimum wage established by law;
- the amount of balance sheet assets at the end of the reporting year is 200 thousand times greater than the established minimum size wages;
4) with the form of ownership. According to this criterion, state and municipal unitary enterprises based on the right of economic management are subject to mandatory audit if the financial indicators of their activities correspond to those set out in clause 3. For municipal enterprises these indicators can be lowered by the law of a constituent entity of the Russian Federation;
5) with a specific indication of the mandatory audit in federal laws.
The auditor's report is drawn up in accordance with Standard No. 6 "Auditor's report on financial (accounting) statements", approved by the Resolution of the Government of the Russian Federation of September 23, 2002 No. 6961.
Financial analysis Bocharov Vladimir Vladimirovich
2.1. The composition and content of financial statements and the procedure for their preparation
All enterprises and commercial organizations that are legal entities are required to compile on the basis of data synthetic and analytical accounting accounting (financial) statements. It expresses a unified system of data on the property and financial position of an enterprise and on the results of its economic activities and is formed according to accounting registers in accordance with established forms.
The financial statements consist of:
1) balance sheet (form No. 1);
2) profit and loss statement (form No. 2);
3) a statement of changes in equity (form No. 3);
4) a statement of cash flows (form No. 4);
5) annexes to the balance sheet (form No. 5);
6) an explanatory note (to forms No. 1–2);
7) an auditor's report confirming the reliability of the organization's financial statements, if it is subject to audit in accordance with federal legislation.
The financial statements must present an objective and complete picture of the financial position of the enterprise at a certain date. The statements prepared on the basis of the rules established by the regulatory enactments on accounting are considered to be reliable and complete. If, during the development of financial statements, insufficient data is revealed to form a complete picture of its financial position, then additional indicators and explanations are included in the statements.
When forming financial statements, an enterprise must ensure the neutrality of the information it contains, that is, one-sided satisfaction of the interests of some user groups in front of others is excluded. Information is not neutral if, through selection or presentation, it affects management decisions users to achieve their predetermined goals.
The financial statements of the enterprise should include indicators of the activities of all branches, representative offices and other divisions (including those allocated to separate balance sheets). For each numerical indicator of financial statements, in addition to the report drawn up for the first reporting period, data must be provided for at least two years - the reporting one and the one preceding the reporting one.
If the data for the period preceding the reporting period are incomparable with the data for the reporting period, then the first of them are subject to correction based on the rules determined by the regulatory enactments on accounting. Each significant adjustment should be disclosed in the notes to the balance sheet and income statement together with an indication of the reasons for this adjustment.
Items of the balance sheet, profit and loss statement and other separate forms of financial statements that are subject to disclosure and for which there are no numerical values of assets, liabilities, income and expenses in standard forms developed by the enterprise independently are crossed out or not filled out.
Indicators on individual assets, liabilities, income, expenses and business operations should be presented separately in the financial statements if they are material or if it is impossible to assess the financial position of the enterprise or the financial results of its activities without knowledge of them by interested users.
Data on certain types of assets, liabilities, income, expenses and business transactions can be reflected in the balance sheet and profit and loss statement in a total amount with disclosure of explanations in the specified forms, if each of these indicators separately is insignificant for the assessment of the financial position of the enterprise by interested users.
Enterprises compiling consolidated financial statements, taking into account data on their subsidiaries (dependent) companies, determine the volume of financial statements provided to them by subsidiaries and dependent companies.
To ensure the reliability of accounting and reporting data, enterprises are required to conduct an inventory of property and liabilities, during which their presence, condition and assessment are checked and documented.
If an incorrect reflection of business transactions of the current period is revealed before the end of the reporting year, corrections are made by entries in the corresponding accounting accounts in the month of the reporting period when the distortions were revealed. If an incorrect reflection of business transactions is detected in the reporting period after its end, but for which the annual financial statements have not been approved, corrections are made by the records of December of the year for which the annual financial statements are prepared for approval and submission to the addressees. In cases of revealing in the current reporting period an incorrect reflection of business transactions in the accounts of the last year, corrections in the accounting and reporting for the past reporting year (after the approval of the annual financial statements) are not made.
When drawing up financial statements, it should be borne in mind that the accounting process at the enterprise is carried out on the basis of the Regulation on accounting "Accounting policy of the organization" PBU 1/98 dated 09.12.98. This policy should meet the requirements of completeness, discretion, priority of content over form, consistency and rationality.
In accordance with the requirements of the Accounting Regulations "Financial Statements of an Organization" PBU 4/99 dated 06.07.99, offsetting between assets and liabilities, profit and loss items is not allowed in the statements, unless such offset is permitted by the relevant accounting regulations.
The balance sheet includes numerical indicators in a net estimate, that is, minus the regulatory values that should be disclosed in the notes to the balance sheet and the income statement. Therefore, in the balance sheet, data on intangible assets, fixed assets, low value and wear and tear items are shown at residual value.
If the enterprise forms a reserve at the end of the reporting year to secure investments in securities of third-party issuers at the expense of profit in the annual balance sheet, the balances of these financial investments are shown at market value if it is lower than the value accepted in accounting. In the liabilities of the balance sheet, the amount of the formed reserve for the depreciation of investments in securities and recorded on the corresponding account is not separately reflected.
When an enterprise creates reserves for doubtful debts at the end of the reporting year (quarter) for settlements with legal and individuals for products (goods, services) with the attribution of the amount of reserves to the financial results, the accounts receivable shown in accounting, for which the reserves have been created, are reflected in the balance sheet in the amount minus the formed reserve. At the same time, the amount of the reserve reflected in the accounting in the liabilities of the balance sheet is not shown separately.
The explanatory note to the financial statements provides additional information: about changes in the accounting policy of the enterprise, fixed assets, inventories, about income and expenses, about events after the reporting date and conditional facts of economic activity, etc.
It is recommended to include information on the relevant data in the explanatory note in the form of separate sections. This note should disclose indicators of items for which other assets, other debtors and creditors, other liabilities are shown in the balance sheet and profit and loss statement, certain types profits and losses, if they are material. The explanatory note should include brief description activities of the enterprise by its types (current, investment and financial).
When characterizing the main indicators, data on the use of fixed assets (share of the active part of fixed assets, depreciation rates, renewal, disposal, etc.), intangible assets, financial investments, scientific and technical level of products, etc. can be provided. Information can be supplemented analytical tables and transcripts. It is advisable to monitor trends in the main indicators of the enterprise, as well as qualitative changes in its property and financial situation, their reasons. If necessary, an explanatory note should indicate the accepted procedure for calculating analytical indicators (profitability, asset turnover, etc.).
When assessing the financial condition for a short-term period, indicators of the satisfactory structure of the balance sheet, security own funds and the ability to restore (lose) solvency. When characterizing solvency, attention should be paid to such parameters as the availability of funds in bank accounts, in the cash desk, losses, accounts receivable and payable, not paid on time, loans and borrowings not repaid on time, completeness of tax transfers to the budget system, paid (payable) penalties for failure to fulfill obligations to the budget and partners. You should also highlight issues related to the position of the enterprise on stock market, and the reasons for the negative phenomena that took place.
When assessing the financial situation for the long term, the structure of sources of investment financing, the degree of dependence of the enterprise on external investors and creditors are given. The dynamics of investments for previous years and for the future is given, with the definition of their effectiveness.
It is advisable to include in the explanatory note data on the dynamics of financial and economic indicators of the enterprise for a number of years, descriptions of future capital investments, innovative and economic activities and other information of interest to potential users of financial statements.
Joint-stock companies in the explanatory note provide the names and positions of members of the board of directors (supervisory board), members of the executive body, total amount the remuneration paid to them. Joint-stock companies whose securities are traded on the stock market, along with the accounting statements formed taking into account the above provisions, prepare annual financial statements developed based on the requirements of International Financial Reporting Standards (IFRS) recommended by the International Financial Reporting Standards Committee, and submit its organizer of trading on the stock market, investors and other interested parties at their request. These reports are submitted within the timeframes established by the Federal Law "On Accounting" dated November 21, 1996, No. 129-f3.
In the case of circulation of securities on the market of a state, requiring the submission of reports according to the accounting rules of this state, the financial statements of the enterprise should be drawn up in accordance with these rules.
The reliability of the information in the annual financial statements of an open joint stock company (OJSC) is subject to mandatory audit and is confirmed by an auditor (audit firm) licensed to carry out auditing activities.
The financial statements are attached to the cover letter of the enterprise, drawn up in accordance with the established procedure and containing information on the composition of the submitted statements. The financial statements submitted to the addresses established by the legislation of the Russian Federation are signed by the head and chief accountant of the enterprise. In organizations where accounting is kept on a contractual basis by a specialized organization (centralized accounting) or a specialist accountant, financial statements are signed by the head of the organization and the head of a specialized organization (central accounting) or a specialist in accounting.
In connection with the introduction from 01.01.2001 of a new Chart of accounts for accounting of financial and economic activities of organizations, changes should be made to the composition of the articles of the current forms of financial statements, including the balance sheet. For example, long-term financial investments are now accounted for in the Financial Investments account on the corresponding sub-accounts: shares and shares, debt securities, loans granted, deposits under a simple partnership agreement. Therefore, in analytical work, one should be guided by the new Chart of accounts of accounting and the changes made to the financial statements by the Ministry of Finance of the Russian Federation.
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