The deadline for submitting financial statements for the first quarter of 2002 is approaching. At the same time, from January 1, 2002, all commercial organizations keep records in accordance with the new chart of accounts. How does this reflect on the balance sheet? In this article, Professor of St. Petersburg State University Viktor Vladimirovich Patrov will talk about the changes and the procedure for filling out the balance sheet in accordance with the new chart of accounts.
A sample balance sheet form as one of the most important forms of financial reporting was approved by order of the Ministry of Finance of Russia dated January 13, 2000 No. 4n. To make it easier to fill out the balance sheet, after the names of its items, the account number is indicated in parentheses, on the basis of which numerical indicators for a particular type of funds (in assets) or their source (in liabilities) are indicated.
From January 1, 2002, all accountants in our country switched to a new chart of accounts, approved by order of the Ministry of Finance of Russia dated October 31, 2000 No. 94n. The changes made to the chart of accounts can be divided into two groups:
- simple change of account numbers;
- changing the methodology for accounting for certain facts of economic life.
Unfortunately, the above changes were not reflected in the sample balance sheet form. The purpose of this article is to help accountants correctly reflect the corresponding amounts for balance sheet items based on the new chart of accounts (see Tables 1 and 2).
Table 1
Balance sheet
| Balance sheet item | Line code | Account numbers | |
|---|---|---|---|
| According to the old plan | According to the new plan | ||
| Construction in progress | 130 | 07,08,16,61 | 07,08,16,60 |
| Long-term financial investments | 140 | 06, 82/2 | 58,59 |
| Raw materials, supplies and other similar assets | 211 | 10,12,13,16 | 10,15,16,60 |
| Costs in work in progress (distribution costs) | 213 | 20,21,23,29,30,36, 44 | 20,21,23,29,44,46 |
| Finished products and goods for resale | 214 | 16,40,41 | 15,16,20,41,42,43,60 |
| Future expenses | 216 | 31 | 97 |
| Buyers and clients | 231 | 62,76,82/1 | 62,76,63 |
| Bills receivable | 232 | 62 | 62,76 |
| Debt of subsidiaries and dependent companies | 233 | 78 | 58,60,62,75,76 |
| Advances issued | 234 | 61 | 60 |
| Buyers and clients | 241 | 62,76,82/1 | 62,76,63 |
| Bills receivable | 242 | 62 | 62,76 |
| Debt of affiliates and subsidiaries | 243 | 78 | 58,60,62,75,76 |
| Advances issued | 245 | 61 | 60 |
| Short-term financial investments | 250 | 56,58,82/2 | 58,59 |
| Other cash | 264 | 55,56,57 | 55,57 |
| Authorized capital | 410 | 85 | 80 |
| Extra capital | 420 | 87 | 83 |
| Reserve capital | 430 | 86 | 82 |
| Social Sphere Fund | 440 | 88 | 84 |
| Targeted funding and revenues | 450 | 96 | 86 |
| Retained earnings from previous years | 460 | 88 | 84 |
| Uncovered loss from previous years | 465 | 88 | 84 |
| Retained earnings of the reporting year | 470 | 88 | 84 |
| Uncovered loss of the reporting year | 475 | 88 | 84 |
| Long-term loans and credits | 510 | 92, 95 | 67 |
| Short-term loans and borrowings | 610 | 90,94 | 66 |
| Bills payable | 622 | 60 | 60,76 |
| Debt to subsidiaries and dependent companies | 623 | 78 | 60,62,66,67,75,76 |
| Advances received | 627 | 64 | 62,76 |
| Debt to participants (founders) for payment of income | 630 | 75 | 70,75 |
| revenue of the future periods | 640 | 83 | 98 |
| Reserves for future expenses | 650 | 89 | 96 |
New balance due to change in account numbers
A simple change in account numbers takes place on the following lines of the balance sheet (see Table 2).
table 2
Balance line, name and account numbers
| Line code | Account name | Account number | |
|---|---|---|---|
| According to the old plan | According to the new plan | ||
| 140,250 | Provision for impairment of investments in securities | 82/2 | 59 |
| 213 | Completed stages of unfinished work | 36 | 46 |
| 214 | Finished products | 40 | 43 |
| 216 | Future expenses | 31 | 97 |
| 231, 241 | Provisions for doubtful debts | 82/1 | 63 |
| 410 | Authorized capital | 85 | 80 |
| 420 | Extra capital | 87 | 83 |
| 430 | Reserve capital | 86 | 82 |
| 440,460,465,470 | Retained earnings (uncovered loss) | 88 | 84 |
| 450 | Special-purpose financing* | 96 | 86 |
| 640 | revenue of the future periods | 83 | 98 |
| 650 | Reserves for future expenses** | 89 | 96 |
*Note: The name in the old chart of accounts is “Targeted financing and revenues.”
**Note: The name in the old chart of accounts is “Reserves for future expenses and payments.”
Changes in accounting methodology and its impact on the balance sheet
The remaining changes in Table 1 are due to innovations in the methodology for accounting for individual objects and facts of economic life. Let's look at them in more detail.
According to the old chart of accounts, two accounts were used to account for financial investments: 06 “Long-term financial investments” and 58 “Short-term financial investments”. The criterion for this division of financial investments into two types was the period during which the organization intended to receive income from them (more than a year - long-term, less than a year - short-term). The disadvantage of this accounting methodology was that in a number of cases it was difficult to classify financial investments in the above-mentioned context. For example, an organization bought 1,000 shares of another company for 5,000 rubles, and the accountant, when recording this transaction, must decide which account (06 or 58) to record them in. Maybe these shares will be on the organization’s balance sheet for, for example, 10 years, or maybe the organization’s management will decide to sell them in a few days (weeks, months). Based on this, the new chart of accounts for accounting for all financial investments (both long-term and short-term) uses one account 58 “Financial investments”. However, another problem arose.
As you know, in the balance sheet financial investments should be reflected in two sections: in section I “Non-current assets” - long-term (line 140) and in section II “Current assets” - short-term (line 250). Previously, for this purpose, the accountant transferred to the balance sheet the balance of accounts 06 and 58, respectively. Since financial investments are currently accounted for in one account, in order to reflect them in the balance sheet, it is necessary to take inventory as of the reporting date of the balance of account 58 “Financial investments” in order to determine which objects are on It is taken into account and for how long.
If objects are listed on this account for more than a year, their total amount is recorded in section I on line 140, and if less than a year - in section II on line 250. Moreover, in both cases, if a reserve was created for the impairment of investments in securities, taken into account on account 59 of the same name, the amount of this reserve must be deducted from the value of the securities for which this reserve was formed.
In the old chart of accounts there was account 30 “Non-capital works”, which took into account the costs associated mainly with the construction of temporary title and non-title structures. According to the new chart of accounts, costs for the construction of temporary structures should be taken into account in accounts 08 “Investments in non-current assets” (for title ones) and 23 “Auxiliary production” (for non-title ones). This must be kept in mind when filling out line 213.
The new edition of the accounting provisions “Accounting for inventories” (PBU 5/01) and “Accounting for fixed assets” (PBU 6/01) does not provide for low-value and wear-and-tear items as accounting items. Depending on their useful life, they are transferred to either fixed assets or materials. In this regard, when filling out line 211, the balance of former accounts 12 “Low-value and wear-and-tear items” and 13 “Depreciation of low-value and wear-and-tear items” will not be used.
In the old chart of accounts there was account 78 “Settlements with subsidiaries (dependent) companies”, information on which was used to fill out lines 233, 243 and 623. In the new chart of accounts, the above account is missing. To account for settlements with subsidiaries (dependent) companies, the Russian Ministry of Finance recommends using those accounts, the use of which follows from the content of one or another fact of economic life.
The parent company, subsidiaries and dependent companies are legal entities and can enter into any agreements between themselves provided for by civil law (purchase and sale, lease, loan, etc.).
Example
The parent company entered into an agreement with its subsidiary for the sale of goods. In this case, the parent company will account for settlements with its subsidiary, which is the buyer of the goods, on account 62 “Settlements with buyers and customers”. In turn, the subsidiary will use account 60 “Settlements with suppliers and contractors” to account for settlements with the parent company, which is a supplier of goods.
Example
Subsidiary "A" provided subsidiary "B" with a loan of 100,000 rubles. for 6 months. When transferring the loan, Company “A” makes the following entry:
Debit 58 “Financial investments” Credit 51 “Current accounts” - 100,000 rubles.
When receiving a loan, Company "B" makes the following entry:
Debit 51 “Current accounts” Credit 66 “Settlements for short-term credits and loans” - 100,000 rubles.
Thus, to account for settlements with subsidiaries (dependent) companies, instead of account 78, different accounts are used (58, 60, 62, 66, 67, 75, 76), information on which will be used to fill out lines 233, 243 and 623 of the balance sheet. To make it easier to obtain this information, the instructions for using the chart of accounts recommend that settlements with subsidiaries (dependent) companies be taken into account separately.
The new chart of accounts does not contain accounts 61 “Calculations for advances issued” and 64 “Calculations for advances received.” It is recommended that these calculations be taken into account respectively in accounts 60 “Settlements with suppliers and contractors” and 62 “Settlements with buyers and customers”. This must be kept in mind when filling out lines 130, 234 and 245 (when reflecting advances issued) and line 627 (when reflecting advances received).
The instructions for using the chart of accounts recommend that the amounts of advances issued (received) and prepayments on accounts 60 and 62 be taken into account separately. For both of these accounts at the same time, the balance can be both debit and credit, and in the balance sheet it should be shown expanded: debit - in an asset, and credit - in a liability. The number of the old account 56 “Cash documents” is indicated after the names of two balance sheet items: “Short-term financial investments” (line 250) and “Other funds” (line 264). Therefore, it is intended that the balance of this account should be shown under these above items. In our opinion, this is unlawful for the following reasons.
According to the old chart of accounts, account 56 “Cash documents” reflected two accounting objects: cash documents and own shares purchased from shareholders for their subsequent resale or cancellation. In addition, it was recommended to take into account the debts of participants acquired by business partnerships for transfer to other participants or third parties on the same account. It was recommended to reflect monetary documents on line 264, and purchased own shares (shares) on lines 250 and 252.
The correctness of this conclusion is confirmed by paragraph 40 of the methodological recommendations on the procedure for forming indicators of the organization’s financial statements, approved by Order of the Ministry of Finance of Russia dated June 28, 2000 No. 60n, which, in particular, states: “The group of articles “Short-term financial investments” reflects the actual costs of the organization for the redemption own shares from shareholders...” In addition, one of the balance sheet items for reflecting short-term financial investments is called “Own shares purchased from shareholders.”
Reflection of monetary documents in the balance sheet under the item “Other cash” (line 264) is incorrect, because monetary documents cannot be identified with cash.
Reflection of purchased own shares (shares) as part of short-term financial investments (lines 250 and 252) is illegal, because they are not financial investments. According to paragraph 43 of the regulations on accounting and financial reporting, approved by Order of the Ministry of Finance of Russia dated July 29, 1998 No. 34n, financial investments include investments in government securities and investments in other organizations. Own shares (shares) are neither one nor the other.
Based on the foregoing, we believe that cash documents and own shares (shares) should be reflected in the balance sheet under the item: “Other current assets” (line 270).
According to the old chart of accounts, loans and borrowings were accounted for in different accounts:
- short-term - account 90 “Short-term bank loans” and account 94 “Short-term loans”;
- long-term - account 92 “Long-term bank loans” and account 95 “Long-term loans”.
The new chart of accounts provides only two accounts for accounting for loans and borrowings:
- account 66 “Settlements for short-term loans and borrowings”;
- account 67 “Settlements for long-term loans and borrowings”;
those. the choice of one of these two accounts is determined by the length of the period for which loans and borrowings were received (more than 1 year and less than 1 year). This must be kept in mind when filling out lines 510 and 610 of the balance sheet.
Old shortcomings in the balance sheet methodology
Unfortunately, even before the transition to the new chart of accounts, there were shortcomings in the methodology for compiling the balance sheet. Let's look at some of them.
Both the old and new charts of accounts provide that account 15 “Procurement and acquisition of material assets” can be used to summarize information on the procurement and acquisition of current assets.
The debit of this account collects all costs associated with the acquisition of inventories. Account 15 is credited for the cost at accounting prices of actually received and capitalized materials or goods. The resulting difference is written off from account 15 to account 16 “Deviations in the cost of material assets.”
Thus, if during the month purchased inventories arrive at the organization, and their actual cost has already been fully formed, then at the end of the month account 15 does not have a balance.
However, in practice situations often arise when the process of acquiring current assets began in one reporting period and ended in another reporting period. In this case, on the balance sheet date, account 15 will have a debit balance.
For not a single asset item is account 15 indicated in parentheses after its name. Naturally, the accountant has a question: under what balance sheet item should this balance be shown? By viewing only the sample balance sheet form, the answer to this question cannot be obtained. It should be noted that in paragraph 25 of the methodological recommendations on the procedure for forming indicators of the organization’s financial statements it is said that this balance “... is added to the cost of the balances of inventories reflected in the relevant items of the group of items “Inventories...””, that is, to the cost of materials or goods (depending on the costs of purchasing which type of these assets were recorded in the debit of account 15).
Clause 13 of the accounting regulations “Accounting for inventories” (PBU 5/01), approved by order of the Ministry of Finance of Russia dated 06/09/2001 No. 44n, states: “An organization engaged in retail trade is allowed to evaluate purchased goods at sales value with separate accounting of markups (discounts)." In this case, the markups attributable to the balance of goods are listed as the credit balance of account 42 "Trade margin", and the balance of account 41 "Goods" shows the balance of goods at sales prices.
Paragraph 60 of the regulation on accounting and financial reporting states: “When an organization engaged in retail trade records goods at sales prices, the difference between the acquisition cost and the cost at sales prices (discounts, markups) is reflected in the financial statements as a separate item.” Paragraph 28 of the methodological recommendations on the procedure for forming indicators of an organization’s financial statements specifies where this difference should be reflected - in the appendix to the balance sheet (form No. 5).
The above-mentioned paragraph 60 of the regulation on accounting and financial reporting also states: “Goods in organizations engaged in trading activities are reflected in the balance sheet at the cost of their acquisition.” To ensure compliance with this requirement when accounting for goods at sales prices, as of the reporting date, you need to subtract the balance of account 41 “Goods” from the balance of account 42 “Trade margin” and record the resulting difference under the balance sheet item “Finished products and goods for resale” (line 214). However, account 42 is not indicated in parentheses after the title of this article, and, unfortunately, not a single regulatory document of the Russian Ministry of Finance mentions this.
For the same balance sheet item (line 214), paragraph 28 of the methodological recommendations on the procedure for generating financial reporting indicators provides for organizations providing public catering services to reflect the balances of raw materials in kitchens and pantries, as well as the balances of goods in buffets. Therefore, in parentheses after the title of this article, we indicated account 20, which in public catering takes into account raw materials and finished products in the kitchen (production).
When filling out lines 232 and 242, you need to keep in mind that the debt of other organizations on bills received from them can be taken into account not only on account 62 “Settlements with buyers and customers”, but also on account 76 “Settlements with various debtors and creditors”. The same account may reflect the organization’s debt on bills of exchange issued by it (not only in account 60 “Settlements with suppliers and contractors”, as follows from the data in line 622).
According to the old chart of accounts, settlements with government agencies for payments paid to various extra-budgetary funds (except for settlements for social insurance and welfare and health insurance) were accounted for on account 67 “Settlements for extra-budgetary payments”. This account is not included in the new chart of accounts, and to account for the above calculations, it is recommended to use account 68 “Calculations for taxes and fees”.
In this regard, when filling out the amount on line 626 “Debt to the budget”, you need to keep in mind that for this line from the balance of account 68 you should take the organization’s debt only to the budget. The remaining debt of the organization listed on this account (in particular, to extra-budgetary funds) should be shown on line 660 “Other short-term liabilities”. The same line should reflect the balance of the consumption fund (if the organization has one), accounted for in account 88, since this is a debt to its employees for activities for the development of the social sphere and material incentives.
Line 630 of the balance sheet reflects the debt to the participants (founders) for payment of income. In parentheses after the title of this article, only account 75 “Settlements with founders” is indicated. The use of only this one account will be legal if all participants (founders) of the organization are not its employees. If the participants (founders) of the organization are also its employees, then, according to the instructions for using the chart of accounts, the accrual and payment of income to them is taken into account on account 70 “Settlements with personnel for remuneration”. Therefore, in this case, to fill out the amount on line 630 of the balance sheet, you need to use the data from two accounts: 75 and 70 (in terms of accrual of income from participation).
As mentioned above, account 60 “Settlements with suppliers and contractors” may have a debit balance showing the amount of advances and prepayments issued. However, a debit balance of this account may also be in the case when an organization paid the supplier money for valuables that it has not yet actually received (they are on the way), but according to the agreement it has become the owner of these valuables. In this case, the debit balance of account 60, showing the balance of valuables in transit, should be reflected in the balance sheet not as accounts receivable, but according to those balance sheet items that reflect similar valuables already capitalized by the organization (as part of materials, goods, etc.) .
An organization as of the reporting date may have a balance in account 94 “Shortages and losses from damage to valuables.” This account number is not indicated on any balance sheet item. The question arises: where to reflect the amounts of the above shortages and losses? To correctly answer this question, it is necessary to take inventory of the balance of account 94 as of the reporting date. Amounts of shortages and losses from damage to valuables related to non-current assets should be reflected under the article “Other non-current assets” (line 150), and those related to current assets - under the article "Other current assets" (line 270).
Changes in the balance sheet statement
Table 3
Certificate of availability of valuables recorded on off-balance sheet accounts
An appendix to the balance sheet is the “Certificate of the presence of valuables recorded in off-balance sheet accounts.” The procedure for filling it out during the transition to the new chart of accounts has practically not changed, with the exception of the indicators reflected in Table 3. This change is due to the merger of two accounts (014 “Depreciation of housing stock” and 015 “Depreciation of external improvement objects and other similar objects”) into one account 010 "Depreciation of fixed assets".
To ensure the possibility of filling out the above certificate, it is necessary to organize separate accounting of housing stock objects and external improvement objects and other similar objects on account 010 (by opening separate sub-accounts or an analytical accounting system).
Taking into account all of the above, a sample balance sheet form will take the following form (see Table 4).
Table 4.
Balance sheet
on _____________________________ 200__
|
* Note: The line title has been changed based on the content of PBU 14/2000 “Accounting for intangible assets”
|
(qualification certificate of a professional accountant from
"____" ___________________________ _____ city №______)
"____" ___________________________ _____ G.
- Intermediate coverage ratio
Kpp line 240 line 250 line 260 line 610 line 620 line 660 where line 240, line 250, line 260, etc. - balance sheet lines form No. 1 Calculation formula according to - Critical rating factor
Kko line 240 line 250 line 260 line 610 line 620 line 660 where line 240, line 250, line 260, etc. - balance sheet lines form No. 1 Calculation formula according to - Intermediate liquidity ratio
Kpl line 240 line 250 line 260 line 610 line 620 line 660 where line 240, line 250, line 260, etc. - balance sheet lines form No. 1 Calculation formula according to - Critical liquidity ratio
Kcl page 240 page 250 page 260 page 610 line 620 page 660 where page 240, page 250, page 260, etc. - balance sheet lines form No. 1 Calculation formula according to - Quick ratio
Kbl page 240 page 250 page 260 page 610 page 620 page 660 where page 240, page 250, page 260, etc. - lines of the balance sheet form No. 1 Calculation formula according to - Quick liquidity ratio
Kcl line 240 line 250 line 260 line 610 line 620 line 660 where line 240, line 250, line 260, etc. - balance sheet lines form No. 1 Calculation formula according to - Absolute liquidity ratio
Cal page 250 line 260 line 610 line 620 line 660 where line 250, line 260, line 610, line 620, line 660 - balance sheet lines form No. 1 - Cash liquidity ratio
Kdl line 250 line 260 line 610 line 620 line 660 where line 250, line 260, line 610, line 620, line 660 - balance sheet lines form No. 1 - Cash ratio
Book page 250 page 260 page 610 page 620 page 660 where page 250, page 260, page 610, page 620, page 660 - balance sheet lines form No. 1 - Assessment of the borrower's creditworthiness based on financial statements
Short-term financial investments 250 - - Cash 260 1102 6434 Other current assets 210 - - Total... Total for section II 290 134 235 251 185 BALANCE line sum 190 290 300 365 740 517 802 LIABILITY Line code To the beginning - A matrix balance sheet will help control the solvency of the company.
We enter one thousand rubles in the table cell located at the intersection of the corresponding column and row Table 2 Matrix balance sheet at the beginning of the reporting period thousand rubles Liabilities Assets Authorized and... Short-term financial investments 250 0 0 Cash 260 30,000 10,000 0 40,000 Balance 300 - Errors in management analysis and recommendations for eliminating them
For December 2013, the organization erroneously accrued depreciation in the amount of 200,000 rubles instead of 250,000 rubles. Moreover, before the error was discovered, the indicators it affects were as follows... The organization established that a significant error is one that leads to a distortion of any line of the financial statements by more than 10% Let's calculate by what percentage the financial statements will be distorted... Liquidity ratios financial indicators calculated on the basis of the statements the company's balance sheet form No. 1 to determine the company's ability to repay current debts using existing current ones - Determining balance sheet liquidity
Short-term financial investments - total 250 9 300 9 300 including - loans provided to other organizations for a period... Balance sheet on line 140 Long-term financial investments for which the amount of balances is reflected in particular - Analysis of the balance sheet in accounting services for small businesses
Comparative analytical balance as of 01/01/2007 Name of articles Line codes Absolute values thousand rubles Relative values % 01/01/2006 01/01/2007 ... Short-term financial investments 250 0 0 0 0 0 0 0 2.6 Cash 260 1409 3205 1796 - Modern methodology for analyzing balance sheet liquidity
Cash and cash equivalents line 1250 In this case, cash equivalents are understood as highly liquid financial investments that can easily be... Grouping of assets and liabilities of the balance sheet according to reporting data Groups of assets and liabilities Title and code of article 2003 Title and... Cash 250 260 Financial investments Cash equivalents 112 113 Financial investments Cash equivalents - Modern trends and features of capital formation in Russian joint-stock companies
To analyze the composition of the capital of Russian joint-stock companies, we will draw up a table in which we indicate the frequency of the presence of individual liability lines in the balance sheet Table 2 All Russian joint-stock companies are required to... Authorized capital 250 100 750 100 Revaluation of non-current assets 151 60.4 333 44.4 Additional capital 162 64.8 - Forecasting the balance sheet of a commercial organization using the percentage of sales method
Accounts payable 620 220 250 Including suppliers and contractors 621 118 130 debt to the organization's personnel 622 ... The discrepancy between the received amount of additional external financing of 180 thousand rubles and the data on line 695 cm of Table 2 in 1 thousand rubles is caused by rounding of the calculation results in the table. .. Thus, the forecast balance sheet as of the end of next year will have the following form: Table 3 Table 2. - Methodological provisions for assessing the financial condition of enterprises and establishing an unsatisfactory balance sheet structure
Since cash lines 280, 290, 300 and 310 and short-term financial investments line 270 are the most easily realizable assets, an increase in their share in conditions of low rates... The information starting for the analysis is contained in the form 2 Statement of financial results and their use on the basis of which it is filled in... Settlements with debtors p. 199 200 210 220 230 240 250 260 2.2.1.1 with subsidiaries p. 220 2.2.1.2 for goods works services p. 199 200 250 with the budget p. 230 2.2.1.4 Advances issued suppliers and contractors page 260 2.2.2. Short term - Income Statement Analysis
The industrial model for constructing a report has the following form: figures conditional revenue from sales 1100 cost of sold finished products balances of finished products at the beginning of the period 100 cost of released finished products for the period 900 including material costs 400 wages and deductions 250 depreciation 50 other expenses 200 minus balances of finished goods products at the end of the period 200 cost... However, in multi-industry organizations this calculation is complicated by presenting the cost of finished products and goods in one line of the balance sheet. When building models, the indicator of gross profit or gross margin is used. This indicator -
As a result of this operation, materials in the amount of 5,500 thousand rubles appear at the enterprise, for which we allocate another line in the asset. At the same time, we will show a decrease in money in a bank account in the amount of 3,500 thousand rubles and... At the same time, we will show a decrease in money in a bank account in the amount of 3,500 thousand rubles and obligations to suppliers in liabilities in the amount of 2000 thousand rubles The balance sheet of the enterprise is as follows Asset Amount thousand rubles Liability Amount thousand rubles Cash... Sales Profit 2,250 Balance 22,750 Balance 22,750 Operation 16. Accrued interest payable on the loan
The line “Cash” indicates the amount of cash available to the organization at the end of the day (for example, December 31 of the reporting year). The line “Cash” shows the cash balance:
- at the register;
- on current accounts;
- on foreign currency accounts;
- on special accounts in credit institutions (with the exception of the balance in subaccount 3 “Deposit accounts”, which, in accordance with the requirements of PBU 19/02, is reflected as part of financial investments);
- funds in transit.
The organization may use additional lines to decipher these indicators within the limits permitted by the standard form approved by the Ministry of Finance of Russia.
According to the balance sheet data, the cost of the line indicator as of March 27, 2013 is 4381.0 thousand rubles. The indicator of this article was accepted without adjustments.
Long-term loans and credits (Line 410)
By line “Loans and credits” (410) reflects the balance of borrowed funds that the organization has received for a period of more than a year, or, in other words, the debt on long-term credits (loans), as well as the amount of accrued but outstanding interest on them.
Depending on the accounting policy selected in accordance with the Accounting Regulations “Accounting for Loans and Credits and the Costs of Servicing Them” PBU 15/01, approved by Order of the Ministry of Finance of Russia dated August 2, 2001 No. 60n (hereinafter referred to as PBU 15/01) In relation to long-term loans and borrowings, an enterprise can:
- transfer long-term debt to short-term debt at a time when, according to the terms of the loan and (or) credit agreement, no more than 365 days remain until the repayment of the principal amount of the debt;
- take into account borrowed funds, the repayment period of which under a loan or credit agreement exceeds 12 months, before the expiration of the specified period as part of long-term debt.
Thus, when analyzing this reporting line, the user must refer to the accounting policies of the organization.
If the organization has chosen the first method, then the amounts of loans and borrowings not repaid at the end of the reporting period, subject to repayment no more than 365 days after the reporting date, will be reflected in the balance sheet in the line “Loans and credits” (610) in the section “Current liabilities” .
If liabilities previously accounted for as long-term are presented in the balance sheet as short-term, then the reasons for this transfer of debt are reflected in the explanations (explanatory note) to the balance sheet. It is worth noting that the standard balance sheet form does not provide separate lines for deciphering long-term borrowed funds. However, if the organization under study takes loans from different sources, then additional terms may be introduced to separate debt to banks and other organizations.
According to the balance sheet data, the value of the line indicator as of March 27, 2013 is 295,363.0 thousand. rub. The indicator of this article was accepted without adjustments.
Short-term loans and credits (Line 510)
By line "Loans and credits" (510) reflects the balance of borrowed funds that the organization received for a period of less than a year, as well as the amount of accrued but unpaid interest on them.
According to the balance sheet data, the cost of the line indicator as of March 27, 2013 is 8773.0 thousand rubles. The indicator of this article was accepted without adjustments.
Accounts payable (Line 520)
By line "Accounts payable" (520) The total amount of the organization's accounts payable is reflected.
The details of these funds are then detailed on separate balance sheet lines.
By line "Suppliers and contractors" (621) shows the amount of debt to suppliers and contractors for material assets received, work performed, and services provided to the organization.
By line “Debt to the organization’s personnel” (622) accrued but not yet paid wages are shown. However, it is necessary to mention that reflecting on this line the amounts of wages not paid to employees does not always mean that the organization has long-term wage arrears with all the ensuing consequences, including those leading to criminal punishment. As a rule, debt to personnel is short-term in nature and is associated with gaps with the date of payroll and the next working day in the organization, when the accounting department can pay in cash or transfer the corresponding amounts to employee accounts.
By line “Debt to state extra-budgetary funds” (623) reflects the amount of the organization's debt for the unified social tax, as well as compulsory pension insurance and insurance against industrial accidents and occupational diseases, which is equal to the credit balance of account 69 “Calculations for social insurance and security”.
By line “Debt on taxes and fees” (624) shows the organization's debt for settlements with the budget for taxes and fees, which is equal to the credit balance of account 68 “Settlements for taxes and fees.”
In accordance with Article 45 of the Tax Code of the Russian Federation, the tax is considered paid from the moment an order to pay the relevant tax is presented to the bank if there is a sufficient cash balance in the taxpayer’s account. However, the Constitutional Court of the Russian Federation, in its ruling dated July 25, 2001 No. 138-0, indicated that this applies only to bona fide taxpayers.
By line "Other creditors" (625) shows the organization's debt for settlements, data on which is not reflected in other articles of the “Accounts Payable” group. For example, it reflects the amounts of debt to accountable persons, obligations for contributions for compulsory and voluntary property insurance; debt on contributions in accordance with the procedure established by the legislation of the Russian Federation to extra-budgetary funds and other special funds (except for funds, debt on contributions to which is reflected in the line “Debt to state extra-budgetary funds”); the amount of obligations of the tenant organization for fixed assets transferred to it under a long-term lease, etc.
According to the balance sheet data, the value of the line indicator as of March 27, 2013 is 33,862.0 thousand rubles.
We assume that the company will fulfill its obligations in full. The indicator of this article was accepted without adjustments.
Debt to participants (founders) for payment of income (Line 630)
According to the balance sheet, the debt to the participants (founders) for payment of income as of March 27, 2013 is 0 rubles.
Adjusted net asset value
Adjusted items involved in the calculation of net assets are presented below (Table 20).
Table 20
| No. | Name | Balance line code | Net asset value as of March 27, 2013 according to the balance sheet, thousand rubles. | Adjusted net asset value as of March 27, 2013, thousand rubles. |
| I Assets | ||||
| Intangible assets | 0,0 | 0,0 | ||
| Fixed assets | 114 377,0 | 122 439,0 | ||
| Construction in progress | 0,0 | 0,0 | ||
| Profitable investments in material assets | 0,0 | 0,0 | ||
| Long-term and short-term financial investments | 0,0 | 0,0 | ||
| Other noncurrent assets | 0,0 | 0,0 | ||
| Reserves | 63 719,0 | 63 719,0 | ||
| Value added tax on purchased assets | 17 501,0 | 17 501,0 | ||
| Accounts receivable | 147 377,0 | 147 377,0 | ||
| Cash | 4 381,0 | 4 381,0 | ||
| Other current assets | 92,0 | 92,0 | ||
| 12 | Total assets accepted for calculation | 347 447,0 | 355 509,0 | |
| II. Liabilities | ||||
| Long-term liabilities for loans and borrowings | 295 363,0 | 295 363,0 | ||
| Short-term liabilities for loans and borrowings | 8 773,0 | 8 773,0 | ||
| Accounts payable | 33 862,0 | 33 862,0 | ||
| Debt to participants (founders) for payment of income | 0,0 | 0,0 | ||
| Reserves for future expenses | 0,0 | 0,0 | ||
| Other current liabilities | 0,0 | 0,0 | ||
| Total liabilities accepted for calculation | 337 998,0 | 337 998,0 | ||
| Net asset value | 9 449,0 | 17 511,0 |
Conclusion
The value of 100% shares of HORN AND HOOVE LLC, as of the date of valuation, obtained as a result of using the Net Asset Method, is:
v 17,511,000.0 (Seventeen million five hundred eleven thousand) rubles.
Quite often there is a need to transfer the balance sheet and profit and loss account from the old form (which was valid until 2011 inclusive) to the new form.
Unfortunately, it was not possible to find a convenient way to transfer old statements to new ones and vice versa, so you will have to manually remake the balance sheet and profit and loss account into a modern form.
To do this, you can use the following tables of correspondence between the line codes of the accounting reporting forms, compiled in accordance with the requirements of Order of the Ministry of Finance No. 67n, with the line codes designated by Order of the Ministry of Finance dated 07/02/2010 No. 66n
How to use it?
If you have a new balance sheet and income statement, and you need to convert them to the old form, then you need:
- Open this page - ;
- Copy tables to excel;
- Open your balance sheet and income statement and, using the pictures in this article, fill out the old balance sheet and income statement.
If you have an old balance sheet and profit and loss account, and you need to convert them to a new form, do this:
- Open the page ;
- Copy the tables into excel;
- Open your old report and, using the pictures from the article, fill out the new report
I found the tables themselves here: http://www.twirpx.com/file/808002/
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Line 1230 of the balance sheet reflects the amount of the company's accounts receivable as of the reporting date. Its decoding is of particular interest to reporting users and has its own characteristics. Decoding other lines of the balance sheet also has its own nuances. Let's look at them.
Let's get acquainted with the balance sheet items for 2019: their codes and explanations
Everyone who has ever held a balance sheet in their hands, much less drawn it up, paid attention to the “Code” column. Thanks to this column, statistical authorities are able to systematize the information contained in the balance sheets of all companies. Therefore, it is necessary to indicate codes in the balance sheet only when this report is submitted to state statistics bodies and other executive authorities (Article 18 of the Law “On Accounting” dated December 6, 2011 No. 402-FZ, clause 5 of the order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n). If the balance is not annual and is needed only by owners or other users, it is not necessary to indicate the codes.
ATTENTION! As of June 1, 2019, changes have been made to the form of the balance sheet and other accounting records!
In the balance sheet, line codes from 2014 must correspond to the codes specified in Appendix 4 to Order No. 66n. At the same time, outdated codes from the expired order No. 67n with the same name, dated July 22, 2003, are no longer applied.
It is not difficult to distinguish previously used codes from modern ones - by the number of digits: modern codes are 4-digit (for example, lines 1230, 1170 of the balance sheet), while outdated ones contained only 3 digits (for example, 700, 140).
For information on what the form of a current balance sheet with line codes looks like, read the article “Filling out Form 1 of the balance sheet (sample)” .
New balance sheet assets (line 1100, 1150, 1160, 1170, 1180, 1190, 1200, 1210, 1220, 1230, 1240, 1250, 1260, 1600)
The asset lines of the new form of the balance sheet (Order No. 66n) reflect the company’s property - both tangible and intangible. The items in this part of the balance sheet are arranged according to the principle of increasing liquidity, while at the very top of the balance sheet asset there is property that remains in its original form almost until the end of its existence.
New balance liabilities (lines 1300, 1360, 1370, 1410, 1420, 1500, 1510, 1520, 1530, 1540, 1550, 1700)
The lines of the passive part of the balance sheet reflect the sources of funds that the company manages, in other words, the sources of its financing. The information contained in the liability lines helps to understand how the structure of equity and borrowed capital has changed, how much the company has attracted borrowed funds, how many of them are short-term and how many are long-term, etc. Thus, the liability lines provide information about where the funds came from and to whom the company should return them.
Assets of the old balance sheet (lines 120, 140, 190, 210, 220, 230, 240, 250, 290, 300) and its liabilities (lines 470, 490, 590, 610, 620, 700)
The purpose of the asset and liability lines of the old balance sheet form (Order No. 67n) does not differ significantly from the purpose of the lines of the updated balance sheet - the only difference is in the list of these lines, their coding and the level of detail of the information.
How to decipher balance sheet asset lines
Before deciphering an asset item, let’s consider its code - it carries certain information. So, the first digit shows that this line refers to the balance sheet (and not to another accounting report); 2nd - indicates the section of the asset (for example, 1 - non-current assets, etc.); The 3rd figure reflects assets in increasing order of their liquidity. The last digit of the code (initially it is 0) is intended to help in line-by-line detailing of indicators considered significant - this allows you to fulfill the requirement of PBU 4/99 (clause 11).
NOTE!The requirement for detail may not be fulfilled by small businesses (clause 6 of Order No. 66n).
Read about what distinguishes accounting carried out by small businesses in the material “Features of accounting in small enterprises” .
The asset lines of the balance sheet with codes and explanations are shown in the table:
|
Line name |
Decoding the string |
||
|
By order No. 66n |
By order No. 67n |
||
|
Fixed assets |
The total amount of non-current assets is reflected |
||
|
Intangible assets |
The information reflected in lines 1110-1170 is deciphered in the notes to the statements (information on the availability of assets at the reporting dates and changes for the period is disclosed) |
||
|
Fixed assets |
|||
|
Profitable investments in material assets |
|||
|
Financial investments |
|||
|
Deferred tax assets |
The debit balance of account 09 is indicated |
||
|
Other noncurrent assets |
Filled in if there is information about non-current assets that are not reflected in the previous lines |
||
|
Current assets |
The final result of current assets is determined |
||
|
The total balance of inventories is given (debit balance of accounts 10, 11, 15, 16, 20, 21, 23, 28, 29, 41, 43, 44, 45, 97 without taking into account the credit balance of accounts 14, 42) |
|||
|
Value added tax on purchased assets |
Indicate account balance 19 |
||
|
Accounts receivable |
The result of adding the debit balances of accounts 60, 62, 68, 69, 70, 71, 73, 75, 76 minus account 63 is reflected |
||
|
Financial investments (excluding cash equivalents) |
The debit balance of accounts 55, 58, 73 (minus account 59) is given - information on financial investments with a circulation period of no more than a year |
||
|
Cash and cash equivalents |
The line contains the balances of accounts 50, 51, 52, 55, 57, 58 and 76 (in terms of cash equivalents) |
||
|
Other current assets |
Filled in if data is available (for the amount of current assets not indicated in other lines of the section) |
||
|
Total assets |
Total of all assets |
||
Interpretation of individual indicators of liabilities of the balance sheet
Liability codes are also 4-digit: the 1st digit is the line’s belonging to the balance sheet, the 2nd is the number of the liability section (for example, 3 is capital and reserves). The next digit of the code reflects obligations in order of increasing urgency of their repayment. The last digit of the code is for detail purposes. Total liabilities in the balance sheet are line 1700 of the balance sheet. In other words, total liabilities in the balance sheet are the sum of lines 1300, 1400, 1500.
Liability items of the balance sheet with codes and explanations are shown in the table:
|
Line name |
Decoding the string |
||
|
By order No. 66n |
By order No. 67n |
||
|
TOTAL capital |
The line contains information about the company's capital as of the reporting date |
||
|
Authorized capital (share capital, authorized capital, contributions of partners) |
Information on lines 1300-1370 is detailed in the statement of changes in equity and the statement of financial results (in terms of net profit for the reporting period). The company has the right to determine the additional amount of explanations about capital. |
||
|
Revaluation of non-current assets |
|||
|
Additional capital (without revaluation) |
|||
|
Reserve capital |
|||
|
Retained earnings (uncovered loss) |
|||
|
Long-term borrowed funds |
The information is deciphered in tabular (Form 5) or text form in the explanations to the balance sheet |
||
|
Deferred tax liabilities |
Indicate the credit balance of account 77 |
||
|
Estimated liabilities |
The credit balance of account 96 is reflected - estimated liabilities, the expected fulfillment of which exceeds 12 months |
||
|
Other long-term liabilities |
Provides information about long-term liabilities not indicated in the previous lines of the section |
||
|
TOTAL long-term liabilities |
The final result of long-term liabilities is reflected |
||
|
Short-term debt obligations |
Account credit balance 66 |
||
|
Short-term accounts payable |
The total credit balance of accounts 60, 62, 68, 69, 70, 71, 73, 75, 76 is reflected. The information is deciphered in the explanations to the balance sheet (for example, in Form 5) |
||
|
Other current liabilities |
Filled in if not all short-term liabilities are reflected in other lines of the section |
||
|
Total current liabilities |
The total total of short-term liabilities is indicated |
||
|
Liabilities of everything |
The sum of all liabilities |
||
Line 12605 - what is it?
In the new form of the balance sheet there were fewer rows than in the old one, and, on the contrary, there were more columns. However, not all companies can make do with only the “standard” lines of this reporting - many require expanded detail. Therefore, sometimes additional items are used, for example, to line 1260 “Other current assets,” a detailing line 12605 “Deferred expenses” is opened.
Where is line 2110 for revenue?
The balance sheet in the language of accounting legislation was previously called Form 1. Another reporting document - “Statement of financial results” - was called Form 2. It is in Form 2 that there is line 2110, which reflects the revenue received during the reporting period.
Results
Decoding the balance sheet allows users to extract as much useful information as possible from its meager figures. For automated processing of data from accounting reports carried out by statistical authorities, accounting lines are encoded.
