Sections of balance. Balance sheet items

Correctly completed sections of the balance sheet are a very important part of the reporting company. Indeed, it is this information that is used to analyze the economic activity of the company in order to reduce losses and costs, as well as to find the internal reserves of the enterprise.

What is a balance sheet

This term should be understood as a consolidated statement that reflects the state of the company's funds in monetary terms, both by source, location and composition (assets), and by the timing of the return and purpose (liabilities).

The value of the balance sheet is that it can be used to analyze the economic activity of the enterprise to reduce losses and costs, as well as identify internal reserves. Use the balance can both internal users and external (creditors, shareholders, banks, founders).

Balance sheet structure

To reflect information in a systematic form, the statement has a certain structure. According to the current legislation, each enterprise should have 5 balance sections. Following this principle is important for the preparation of competent and correct reporting. In addition, each part of the statement has the form of a vertical table with filled rows. The main elements of the structure are as follows:

• fixed assets;
• current assets;
• capital and reserves;
• long term duties;
• Short-term liabilities.

The first two paragraphs relate to one of the two key sections, which is called the “Asset Balance Sheet”, the remaining three are part of the section “Liabilities”.

What is meant by an asset

Any enterprise, carrying out business activities, acts as a legal entity that owns specific financial resources. In the process of incorporation, certain non-current assets are transferred to the company, the size and structure of which may change during the course of business.

The Assets balance sheet displays the funds that the company has and, accordingly, uses. This is 1 section of the balance. It may contain information about various types of enterprise resources.

Fixed assets

In this case, we mean those funds of the company that have been used for more than one year. The most important items in this section are fixed assets, intangible assets, long-term financial and unfinished capital investments.

If you touch on the topic of intangible assets, it is worth noting that this column displays only information on the rights to individual property (business reputation, organizational expenses, etc.). The value of this group of assets is carried forward to depreciation expenses.

Working resources

The asset of the balance sheet includes this section, which reflects information about the company's funds used throughout the year. The structure of this section is as follows:

• receivables;
• inventory items;
• cash and short-term investments.

In addition to these key groups, there is also the “Reserves” subsection, in which the remains of values ​​are recorded. The article reflecting raw materials contains information on solid and auxiliary materials, stocks of raw materials, components, purchased semi-finished products, containers and other material products.

One of the key elements of accounting analysis is the control of receivables.Moreover, if this indicator goes beyond the norm, it is only because of the insufficiently organized work of the enterprise (untimely identification of theft, shortages and embezzlement of cash, as well as inventory items).

Balance sheet

The process of forming this statement is reduced to filling out all the lines of Form No. 1. It is worth noting that, depending on the characteristics of the operated property and the conduct of business activities, the enterprise may make adjustments to this form.

Both the asset and the liability balance consist of a certain sequence of lines, each of which is filled with information relating to a specific indicator of the financial condition of the company.

As a key condition for the correct filling of the balance sections, you can determine the exact correspondence of a particular indicator and the line into which it is entered. Also, in all lines established by the enterprise, there should be monetary values. If for any indicator a zero amount is obtained, you need to provide explanations regarding this article in the balance sheet.

The total indicators that display the sections of the balance should have the same values. In this case, a very simple logic is used: “assets” show the resource base that the enterprise has, and “liabilities” explain how this property was received in the indicated amount.

What needs to be fixed in the title part

Drawing up the balance sheet involves filling in these fields. They must be properly designed, with all the necessary information provided. What should be indicated in the title part:

• Name of the organization;
• the reporting date at which the balance sheet is drawn up;
• TIN assigned to the taxpayer;
• ownership code and its legal form (here you must specify information about the organization according to OKOPF);
• the type of activity that is defined as key based on the requirements of regulatory documents approved by the State Statistics Committee of the Russian Federation;
• unit of measurement (we are talking about the format in which numerical indicators are presented);
• address where the company is located;
• date established for annual financial statements;
• day of sending / acceptance (you must specify the specific date when the financial statements were sent, as well as the time of its actual receipt according to ownership).

Before filling in the sections of the balance sheet, it is worth paying attention to this information, which, although it is not key, but is necessary for competent reporting.

Balance sheet liability

This indicator should be understood as the amount of the company's obligations or sources of assets. Such sections of the liability side of the balance sheet as long-term and short-term liabilities used to record outstanding loan and loan amounts, borrowed funds and company debt to contractors and suppliers.

This section also contains information on funds reserved by the company.

As for the article “Authorized capital”, it contains data on the amount of funds that the owners of the enterprise allocated for economic activity. When determining the source of funds, one of four key names can be used:

• authorized capital;
• mutual contributions;
• statutory fund;
• share capital.

In the article "undestributed profits" The balance of the profit at the end of the reporting year that was not used is reflected.

How to fill in Passive lines correctly

The preparation of the balance sheet implies the following structure and conditions for filling out this section:

1. Authorized capital. The amount of the registered capital is displayed here.
2. Provisions for future payments and expenses.In this case, it is necessary to summarize the reserves that were not used during the year and the funds transferred to the next year (recorded in the annual financial statements).
3. Reserve capital. Filling this article of the balance sheet involves entering information about the amount remaining from the original capital.
4. Revenue of the future periods. Here, the amount of cash received within the reporting period is recorded, although the plan has a bearing on subsequent periods.
5. Profit. This article contains information on the profit that was obtained as a result of the main business activities of the enterprise within the reporting period. In this case, the amount spent during this time is deducted.
6. Accounts payable. Here you need to specify the amount of those debts that the company has to creditors.

Fill in the asset table

Articles of balance sections displaying information about the organization’s assets are filled as follows:

1. Fixed assets. In this column you must specify the initial total value of the property of the company (fixed assets). In this case, it is necessary to deduct the total amount of depreciation made in the process of using each type of property.
2. Capital investments. Here you need to display the amount spent on construction, or indicate the previously paid order value.
3. Intangible assets. This article is intended to show the value of all intangible assets owned by the enterprise. In other words, the base is fixed for the development of the company and the acquisition of property minus depreciation.
4. Equipment. The sections of the balance sheet related to assets include such an article, which is intended to fix the price relevant at the time of acquisition.
5. Material values. This article displays the total actual cost of such material resources as spare parts, fuel, containers, etc.
6. Unfinished production. In this case, we are talking about the amount of expenses that were incurred for the purchase of semi-finished products, materials, raw materials and so on. It is relevant to use the standard cost.
7. Financial investments. This line is used to fix the total cost of the investor within the billing period.
8. Future spending. The purpose of this article of the balance sheet is to display the sum of all costs incurred earlier, but related to subsequent periods.
9. Products. The sum of all goods that were purchased is displayed here. The actual purchase price is used for the calculation.
10. Finished products. This article calculates the sum of all finished products according to their cost.
11. Receivables. The amount previously agreed with the debtors is taken into account. This article also reflects payables and receivables, securities in foreign currency, foreign currency balances and other monetary resources.
12. Work delivered, services rendered and goods shipped. In this case, the value is calculated at the cost that was previously set.

Thus, the sections of the balance sheet should be filled competently within each article.

Types of balances

The balance sheet may have several types, depending on the sources of preparation:

1. General balance. Such statements are formed on the basis of data obtained after the inventory.
2. Book. In this case, the sections of the balance sheet are filled out on the basis of the data contained in the current accounting documentation.
3. Inventory. This type of balance is compiled in accordance with the information that was obtained during the inventory of the funds of the enterprise. This type of reporting can be provided in a simplified and abbreviated form.

As you can see, the balance sheet plays an important role in the process of analyzing the state of the enterprise. Therefore, filling in its sections should be approached competently and thoroughly.