Contents and structure of the balance sheet

Balance sheet - what is it?

An accounting balance sheet is a tabular version of the reflection of an organization’s financial indicators as of a certain date.
In the most widespread form in the Russian Federation, the balance sheet consists of two equal parts, one of which shows what the organization has in monetary terms (balance sheet asset), and the other - from what sources it was acquired (balance sheet liability) . This equality is based on the reflection of property and liabilities using a double entry method in accounting accounts. ATTENTION! From 2021, financial statements will be submitted exclusively in electronic form. Paper forms will no longer be accepted. Read more about changes to the rules for presenting financial statements here. We also remind you that in 2021 the reporting forms have been updated.

A balance sheet compiled as of a specific date allows one to assess the current financial condition of an organization, and a comparison of data from balance sheets compiled as of different dates allows one to track changes in its financial condition over time. The balance sheet is one of the main documents that serves as a source of data for conducting an economic analysis of an enterprise's activities.

Having trouble with your balance? On our forum you can consult on any issue. For example, here you can see whether an explanatory note is needed for the financial statements of a small enterprise.

Why do you need a completed balance sheet: example

The balance sheet for 2021 is a document that summarizes accounting data on the financial performance of an organization for a certain period.
ATTENTION! Starting from 2021, financial statements are submitted exclusively in electronic form. Paper forms will no longer be accepted. Read more about changes to the rules for presenting financial statements here. We also remind you that in 2021 the reporting forms have been updated.

Despite the fact that the 2021 balance sheet form that is relevant for the Russian Federation - you can download the form for free directly from the article - is filled in with data for very specific dates, a comparison of these data reflects their dynamics over time.

A correct reading of the 2021 balance sheet form provides fairly broad information of an economic nature to the interested user. These users include primarily:

• owners of the organization;
• financial and economic service of the enterprise;
• Inspectorate of the Federal Tax Service;
• state statistics bodies;
• banks from which the company receives loans;
• investors;
• sponsors;
• counterparties with whom current interaction is carried out;
• administrations of the regions where the enterprise operates.

The balance sheet of the 2021 sample, as well as the balance sheet for 2021, allows you to see not only the specific financial and economic situation at the reporting date, but also analyze its changes in comparison with data for past years. And taking into account long-term development plans, it makes it possible to draw up a forecast of the enterprise’s activities and, accordingly, a forecast balance sheet.

For external users, as a rule, it is enough to present the balance sheet on the 2021 form with a certain frequency (month, quarter, year). They may be satisfied with the standard reporting form, which is used to submit a report to the Federal Tax Service and state statistics bodies, but options for transforming the data into other reporting forms similar to the 2020 balance sheet are possible.

For internal purposes, the main of which is the current analysis of activities and timely adoption of measures to adjust the operation of the enterprise, the balance sheet - Form 1 on the 2021 form - can be compiled at any frequency and in a very wide range of its types.

Thus, the value of the balance sheet goes very far beyond the boundaries of the usual accounting records created for the Federal Tax Service. Therefore, special attention should be paid to filling it out and knowing how to draw up a balance sheet correctly.

For general requirements for financial reporting, read the article “What requirements should accounting reporting satisfy?” .

Latest balance changes

From 06/01/2019, the balance sheet form is valid as amended by Order of the Ministry of Finance dated 04/19/2019 No. 61n. The key changes in it (as well as in other financial statements) are as follows:

• now reporting can only be prepared in thousand rubles, millions can no longer be used as a unit of measurement;
• OKVED in the header has been replaced by OKVED 2;
• The balance sheet must contain information about the audit organization (auditor).

The auditor mark should only be given to those companies that are subject to mandatory audit. Tax authorities will use it both to impose a fine on the organization itself if it ignored the obligation to undergo an audit, and in order to know from which auditor they can request information on the organization in accordance with Art. 93 Tax Code of the Russian Federation.

More significant changes have occurred in Form 2. Read more about them here.

Classification of balance sheets

There are many types of balance sheets. Their diversity is determined by a variety of reasons: the nature of the data on the basis of which the balance is formed, the time of its compilation, purpose, method of reflecting the data and a number of other factors.

According to the way the data is reflected, the balance sheet can be:

• static (balance) - compiled for a specific date;
• dynamic (revolving) - compiled by turnover for a certain period.

In relation to the moment of compilation, balances are distinguished:

• introductory - at the beginning of activity;
• current - compiled as of the reporting date;
• liquidation - upon liquidation of an organization;
• sanitized - when rehabilitating an organization approaching bankruptcy;
• dividing - when dividing an organization into several companies;
• unifying - when organizations merge into one.

Based on the volume of data on organizations reflected in the balance sheet, balance sheets are distinguished:

• single - one organization at a time;
• consolidated - based on the sum of data from several organizations;
• consolidated - for several interrelated organizations, internal turnover between which is excluded when preparing reports.

According to its purpose, the balance sheet can be:

• trial (preliminary);
• final;
• predictive;
• reporting.

Depending on the nature of the source data, there is a balance:

• inventory (compiled based on the results of the inventory);
• book (compiled only according to registration data);
• general (compiled according to accounting data taking into account the results of the inventory).

By way of data reflection:

• gross - including data from regulatory items (depreciation, reserves, markup);
• net - with the exception of these regulatory articles.

Balance sheets may vary depending on the legal form of the company (balance sheets of state, public, joint, private organizations) and the type of its activity (main, auxiliary).

Based on frequency, balances are divided into monthly, quarterly, and annual. They can have either full or abbreviated form.

The balance sheet table can be of 2 types:

• horizontal - when the balance sheet currency is defined as the sum of its assets, and the sum of assets is equal to the sum of capital and liabilities;
• vertical - when the balance sheet currency is equal to the value of the organization's net assets (i.e., the amount of capital), and the net assets, in turn, are equal to the assets of the enterprise minus its liabilities.

For internal purposes, the organization itself has the right to choose the frequency, methods and methods of preparing the balance sheet. Reports submitted to the Federal Tax Service must have a certain form with comparable data as of the dates indicated in the balance sheet.

For information on how to draw up a balance sheet for a small business, read the article “Balance Sheet for Small Businesses (Features)” .

Structure of the enterprise's balance sheet

The balance sheet form used for official reporting in the Russian Federation is a table divided into two parts: the asset and liability of the balance sheet. The total amounts of assets and liabilities of the balance sheet must be equal.

A balance sheet asset is a reflection of the property and liabilities that are under the control of the enterprise, are used in its financial and economic activities and can bring it benefits in the future. The asset is divided into 2 sections:

• non-current assets (this section reflects property used by the organization for a long time, the cost of which, as a rule, is taken into account in the financial result in parts);
• current assets, data on the availability of which are in constant dynamics, accounting for their value in the financial result, as a rule, is carried out one-time.

Read more about them in the material “Current assets on the balance sheet are...” .

The balance sheet liability characterizes the sources of those funds from which the balance sheet asset is formed. It consists of three sections:

• capital and reserves, which reflect the organization’s own funds (its net assets);
• long-term liabilities, which characterize the debt of an enterprise that has existed for a long time;
• short-term liabilities showing an actively changing part of the organization's debt.

To learn about which entries are used when reflecting equity capital in accounting, read the article “Procedure for accounting for an organization’s equity capital (nuances).”

What is a balance sheet and why is it prepared?

Most Russian companies compile and present various accounting reports.

The main set of such reporting includes five forms:

• Form No. 1 - “Balance Sheet;
• Form No. 2 - “Report on financial results”;
• Form No. 3 - “Report on changes in capital”;
• Form No. 4 - “Cash Flow Statement”;
• Form No. 5 - “Appendix to the Balance Sheet”.

I propose to take a closer look at form No. 1 – balance sheet.

The balance sheet is information about the company’s property (assets) and the sources of its acquisition (liabilities), grouped as of the reporting date in the form of a table. An asset is always equal to a liability!

Let's get acquainted with the principles of drawing up a balance using the example of the budget of one Russian family.

Example

A large, friendly Pugovkin family lives in the city of N. The family is wealthy by city standards. They have: an apartment, a car, household appliances, furniture, clothes, food, a summer house. In addition, there is money in the wallets and bank accounts of family members.

In general, the Pugovkins have everything they need for a comfortable active life. These will be the assets of the Pugovkin family.

Take a sheet of blank paper and write all of the above in 2 columns.

Assets of the Pugovkin family:

To acquire all this, the family needed funds. Therefore, the Pugovkins took out a bank loan and borrowed part of the money from friends. In addition, the Pugovkin family currently has unpaid utilities and property taxes.

A bank loan, debt to friends, unpaid utility bills and taxes are the liabilities of the Pugovkin family.

Liabilities of the Pugovkin family:

The assets and liabilities of the balance sheet are divided into several parts.

Asset sections:

• non-current assets;
• working capital.

Passive sections:

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

The balance sheet is in demand by various users.

External users:

• tax authorities;
• banks;
• investors;
• partners (counterparties).

Internal users:

• shareholders of the company;
• planning and analytical department.

Contents of sections of the balance sheet

The allocation of sections in the structure of the balance sheet is mainly due to the temporary factor.

Thus, the balance sheet asset is divided into 2 sections depending on the time of use of the assets in the organization’s activities:

• non-current assets are used for more than 12 months;
• current assets contain data on indicators that will change significantly over the next 12 months.

When separating sections in the liabilities side of the balance sheet, in addition to the time factor, the ownership of the funds from which the balance sheet asset is formed (equity capital or borrowed funds) plays a role. Taking into account these 2 factors, the liability is formed from 3 sections:

• capital and reserves, where the organization’s own funds are divided into an almost constant part (authorized capital) and a variable part, depending both on the adopted accounting policy (revaluation, reserve capital) and on the monthly changing financial results of activities;
• long-term liabilities - accounts payable that will exist for more than 12 months after the reporting date;
• short-term liabilities - accounts payable, significant changes in which will occur within the next 12 months.

For more information on reflecting revaluation in the balance sheet, see the material “Revaluation of non-current assets in the balance sheet is...”.

How to draw up a balance sheet - step-by-step instructions for beginners

The process of preparing a balance sheet is very complicated, not only for beginners. Some aspects of its preparation may cause difficulties for professional accountants.

I propose to consider with me step by step its main points.

Step 1. Specify the details

As a rule, filling out any reporting form begins with the title page. The balance sheet is no exception. To fill it out, a unified form approved by the Ministry of Finance is used.

The first sheet contains the details of the company making up the balance sheet:

• the date on which the form is drawn up;
• Date of preparation;
• Company name;
• an identification number;
• type of economic activity;
• type of ownership;
• unit of measurement;
• location of the company.

Step 2. Fill in the rows of the asset table

The next step is to fill out the asset balance sheet. We take all the information from the balances of the company’s accounts (we use the balance sheet (SAS)).

Example

For Pomidorka LLC, 2021 is the first period when the company needs to report, because it was in this year that the company was created. Let's present the balances according to accounting data in the form of a table.

Balances of Pomidorka LLC as of 01/01/2017:

When drawing up a balance sheet, remember that:

• debit and credit balances in the balance sheet are not collapsed;
• Fixed assets and intangible assets are shown at residual value;
• assets in the balance sheet are reflected at book value.

Information in the balance sheet is divided item by item (approved by the Ministry of Finance). Opposite each item is the amount taken from the SALT on the reporting date; in 2 adjacent columns the itemized value of the property for the two previous reporting dates is indicated.

Continuation of the example

Based on the accounting data of Pomidorka LLC, we will compile a part of the balance sheet called “Asset”.

Active:

Information is indicated in whole thousands or millions of rubles. Blank rows are not included in the table. In a real balance sheet, all lines must be present; they are simply marked with a dash.

Step 3. Fill in the rows of the liability table

We do the same when filling out the “Passive” section. Let's take a closer look at the example of Pomidorka LLC.

Example

Filling out the “Passive” section:

Step 4. Compare table values

Do you remember that asset = liability? In the balance sheet, line 1600 and line 1700 have the same figure of 1206 thousand rubles. This indicates that the form is drawn up correctly.

If there are discrepancies in these lines, it means that an error has crept into the accounting, which must be found.

Let me tell you right away, this is not an easy task. First, I recommend checking the arithmetic calculations. If there are no problems with arithmetic, proceed to checking the accounting entries in OSV.

Step 5. We analyze the balance sheet according to its indicators

Analysis of the balance sheet and its indicators is a complex, multi-stage process. I told you how to do it above. The results of the analysis help optimize the financial policy of the company. A high-quality analysis allows you to make competent management decisions.

The concept and meaning of balance sheet items

Sections of the balance sheet are detailed by breaking them down into items. The itemized details recommended for submission to the Federal Tax Service Inspectorate are contained in balance sheet forms approved by Order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n in 2 versions:

• complete (Appendix 1);
• abbreviated (Appendix 5).

The abbreviated (simplified) form of the balance sheet allows for the combination of its articles in order to obtain aggregated indicators and simplify reporting. However, its use is available only to persons entitled to conduct simplified accounting (SMEs, NPOs, participants in the Skolkovo project).

The breakdown of sections into articles is due to the need to highlight the main types of property and liabilities that form the corresponding sections of the balance sheet.

The form of a complete balance sheet recommended by the Ministry of Finance of Russia assumes the following breakdown of sections by item:

• fixed assets:
• intangible assets;
• research and development results;
• Intangible search assets;
• tangible prospecting assets;
• fixed assets;
• profitable investments in material assets;
• financial investments;
• Deferred tax assets;
• Other noncurrent assets;

• stocks;
• VAT on purchased assets;
• accounts receivable;
• financial investments (except for cash equivalents);
• cash and cash equivalents;
• Other current assets;

• authorized capital (share capital, authorized capital, contributions of partners);
• own shares purchased from shareholders;
• revaluation of non-current assets;
• additional capital (without revaluation);
• Reserve capital;
• retained earnings (uncovered loss);

Find out which line shows gross profit on the balance sheet here .

• long term duties:
• borrowed funds;
• deferred tax liabilities;
• estimated liabilities;
• other obligations;

• borrowed funds;
• accounts payable;
• revenue of the future periods;
• estimated liabilities;
• other obligations.

When drawing up a balance sheet, an organization can use the item-by-item detailing recommended by the Russian Ministry of Finance. However, it has the right to use its own development of this breakdown if it believes that this will lead to greater reliability of reporting. In addition, if there is no data to fill out the relevant items, the company has the right to exclude such items from the balance sheet it compiles.

Look at a sample balance sheet prepared by ConsultantPlus experts. Get trial access to the system and proceed to the material. It's free.

How to correctly prepare a balance sheet liability

Let's present the information in a table.

IMPORTANT!
The values ​​of assets and liabilities are always reflected in monetary terms. Moreover, transactions are recorded exclusively in rubles. If settlements are made in foreign currency, then the transaction must be converted into rubles. The exchange rate approved by the Central Bank of Russia at the time of the economic activity is used.

The balance sheet and other financial statements are prepared in rubles or thousands of rubles. If the company’s turnover is significant, then it is permissible to indicate the amounts in the balance sheet in millions of rubles.

Composition of balance sheet items

Balance sheet items are filled out based on data on balances in accounting accounts as of the reporting date. When filling out a report for submission to the Federal Tax Service, you must be guided by a number of rules established for the preparation of such reports (PBU 4/99, approved by order of the Ministry of Finance of Russia dated July 6, 1999 No. 43n):

• The initial accounting data must be reliable, complete, neutral and formed in accordance with the rules of the current PBU. When reflecting them, it is necessary to comply with the principles of materiality and comparability with the results of previous periods.
• In the current report, data from previous periods must be consistent with the figures in the final accounts for those periods.
• For the annual balance sheet, the presence of property and liabilities must be confirmed by the results of their inventory.
• Debit and credit balances in the balance sheet are not collapsed.
• Fixed assets and intangible assets are shown at residual value.
• Assets are reflected at their book value (less created reserves and mark-ups).

You can see a detailed line-by-line algorithm for filling out the balance sheet in the Guide to Accounting Reports from ConsultantPlus, having received free access to the system.

And below is information about on the basis of the balances of which accounts the above balance sheet items are filled in in relation to the current version of the chart of accounts, approved by order of the Ministry of Finance of Russia dated October 31, 2000 No. 94n:

• Under the article “Intangible assets”, the residual value of intangible assets is indicated, corresponding to the difference in the balances of accounting accounts 04 and 05. At the same time, for account 04, data falling in the line “Results of research and development” is not taken into account, and for account 05 - figures related to intangible search assets.
• The article “Results of research and development” is filled in if there is data on R&D costs in account 04.
• Data on the items “Intangible exploration assets” and “Tangible exploration assets” are important only for those organizations that develop natural resources if they have information on account 08 to fill out lines for these items. Tangible exploration assets include tangible objects, and intangible assets include all others. Both types of assets are subject to depreciation, recorded in accounts 02 and 05, respectively.
• For the item “Fixed Assets”, data on the residual value of fixed assets (the difference in the balances of accounting accounts 01 and 02, while account 02 does not take into account data related to material exploration assets and profitable investments in assets) and capital investment costs (account 08, excluding the figures included in the lines of the articles “Intangible search assets” and “Tangible search assets”).
• Data for the article “Profitable investments in assets” is taken as the difference between the balances of accounts 03 and 02 in relation to the same objects.
• The item “Financial investments” in non-current assets is filled in if there are amounts with a repayment period of more than 12 months in accounts 55 (deposits), 58 (financial investments), 73 (loans to employees). The balance of account 58 is reduced by the amount of the created reserve (account 59) related to long-term investments.
• Under the article “Deferred tax assets”, organizations applying PBU 18/02 indicate the balance of account 09.
• When the line item “Other non-current assets” is used, the balance sheet reflects assets that are either not included in the above lines, or those that the organization considers necessary to highlight.
• The figure for the item “Inventories” is formed as the sum of the balances on accounts 10, 11 (minus the reserve recorded on account 14), 15, 16, 20, 21, 23, 28, 29, 41 (minus account 42, if accounting for goods carried out with a markup), 43, 44, 45, 46, 97.
• The item “VAT on purchased valuables” reflects the balance of account 19.
• To obtain the data indicated under the “Accounts receivable” item, debit balances on accounts 60, 62 (both accounts minus the reserves formed on account 63), 66, 67, 68, 69, 70, 71, 73 (minus data , recorded under the article “Financial investments”), 75, 76.
• The article “Financial investments (except for cash equivalents)” in current assets shows data on accounts 55 (deposits), 58 (financial investments), 73 (loans to employees) with repayment periods of less than 12 months. In this case, the figures in account 58 are reduced by the amount of the created reserve (account 59) for short-term investments.
• The data for the item “Cash and cash equivalents” is obtained by adding the balances of accounts 50, 51, 52, 55 (excluding deposits), 57.
• The line of the article “Other current assets” includes assets that are either for some reason not reflected in the above lines, or those that the organization considers necessary to highlight. For example, this could be a bad debt from a counterparty or the value of stolen property for which investigative actions have not yet been completed. Reflection of such data on this line with a corresponding reduction in figures for those items in which they could have been reflected if there had not been a decision by the organization to allocate them, will require notes both to the article “Other current assets” and to the second article, which will be affected such an operation.
• The data for the article “Authorized capital (share capital, authorized capital, contributions of partners)” is taken as the balance of account 80.
• The figures in the article “Own shares purchased from shareholders” correspond to the balances of account 81.
• For the article “Revaluation of non-current assets”, data on balances on account 83 related to fixed assets and intangible assets is used.
• Data for the item “Additional capital (without revaluation)” is formed as balances on account 83 minus data on the revaluation of fixed assets and intangible assets.
• The item “Reserve capital” shows the balance of account 82.
• The value reflected under the item “Retained earnings (uncovered loss)” in the annual balance sheet is the balance of account 84. For interim reporting (before the balance sheet reformation carried out at the end of the year), this figure is the sum of two balances: for account 84 (financial the result of previous years) and 99 (financial result of the current period of the reporting year). The item “Retained earnings (uncovered loss)” is the only balance sheet item that can have a negative value. At the same time, it is important that for an organization that has a loss, the total of the “Capital and Reserves” section (net assets) does not turn out to be less than the amount of the authorized capital. If this circumstance occurs for two financial years in a row, then the organization must either reduce its authorized capital to the appropriate figure (and this is not always possible, since the authorized capital cannot be less than the minimum value established by current legislation), or it is subject to liquidation.

ATTENTION! With the reporting campaign for 2021, changes to PBU 18/02, 16/02, 13/2000, FSBU 5/2019 “Reserves” come into effect. And starting with reporting for 2022, the new FSBU 25/2018 “Lease Accounting”, FSBU 6/2020 “Fixed Assets”, FSBU 26/2020 “Capital Investments” should be applied. You can start applying new accounting standards earlier. This decision needs to be fixed in the accounting policy of the enterprise.

Read more about the reformation of the balance sheet in the article “How and when to reform the balance sheet?” .

• The article “Borrowed funds” in the “Long-term liabilities” section is filled in if there is debt on loans and borrowings, the repayment period of which exceeds 12 months (account balance 67). In this case, interest on long-term borrowed funds must be taken into account as part of short-term accounts payable.
• Under the article “Deferred tax liabilities”, organizations applying PBU 18/02 indicate the balance of account 77.
• The value under the item “Estimated liabilities” in the section “Long-term liabilities” corresponds to the balance in account 96 (reserves for future expenses) in relation to those reserves whose useful life exceeds 12 months.
• The item “Other liabilities” in the section “Long-term liabilities” shows liabilities with a maturity of more than 12 months that are not included in other lines of long-term liabilities.
• The article “Borrowed funds” in the “Short-term liabilities” section is filled in if there is debt on loans and borrowings, the repayment period of which is less than 12 months (account balance 66). At the same time, this includes interest on long-term borrowed funds, recorded in account 67, and debt on long-term loans and borrowings, recorded in account 67, if there are less than 12 months left until its repayment.
• The data for the “Accounts payable” item is formed as the sum of credit balances for accounts 60, 62, 68, 69, 70, 71, 73, 75, 76.
• For the item “Deferred income” the value is taken as the sum of balances on accounts 86 (target financing) and 98 (deferred income).
• The value under the item “Estimated liabilities” in the section “Short-term liabilities” corresponds to the balance in account 96 (reserves for future expenses) in terms of those reserves whose useful life is less than 12 months.
• Under the item “Other liabilities” in the section “Short-term liabilities”, liabilities with a maturity of less than 12 months are shown that are not included in other lines of short-term liabilities.

Read about one of the most frequently created short-term reserves in the material “Creating a reserve for vacation pay in accounting.”

How to fill out a balance sheet using Form 1

Title part

After the name of the form, it is indicated on what date it is being generated. The actual date of submission of the report must be entered in the table, in the line “Date (day, month, year)”. Next, the full name of the subject is written down, and opposite in the table is its OKPO code.

After this, his TIN is indicated on the next line in the table. Next, you need to indicate the main type of activity - first in words, and then in a table using the OKVED2 code. Then the organizational form and form of ownership are indicated.

On the contrary, the corresponding codes are entered in the table, for example:

• The code for LLC is 65.
• for private property - 16.

On the next line you need to choose in what units the data in the balance sheet is presented - in thousands or millions. The table displays the required OKEI code. The last line contains the address of the subject's location.

Fixed assets

Line “Intangible assets” 1110 is the balance of account 04 (except for R&D work) minus the balance of account 05.

Line “Research results” 1120 - account balance 04 for sub-accounts that reflect R&D;

Line “Intangible search requests” 1130 - account balance 08, subaccount of intangible costs for search work.

Line “Material search requests” 1140 – account balance 08, subaccount for the costs of material assets for search work.

Line “Fixed assets” 1150 - account balance 01 minus account balance 02.

Line “Income-bearing investments in MC” 1160 - the balance of account 03 minus the balance of account 02 in terms of accrued depreciation on assets related to income-generating investments.

Line “Financial investments” 1170 - account balance 58 minus account balance 59, as well as account balance 73 in terms of interest-bearing loans over 12 months.

Line “Deferred tax assets” 1180 - account balance 09, it is possible to reduce it by account balance 77.

Line “Other non-current assets” 1190 - other indicators that need to be reflected in the section, but they are not included in any line.

The line “Total for section” 1100 is the sum of lines from 1110 to 1190.

Current assets

Line “Inventories” 1210 - the sum of indicators is entered in the line:

• account balance 10 minus account balance 14, or account balances 15, 16
• Balances on production accounts: 20, 21, 23, 29, 44, 46
• Balances of goods on accounts 41 (minus the balance on account 42), 43
• account balance is 45.

Line “Value added tax” 1220 - account balance 19.

Line “Accounts receivable” 1230 - the sum of indicators is entered:

• Debit balances of accounts 62 and 76 minus the credit balance of account 63 in the subaccount “Reserves for long-term debts”;
• The debit balance of the account is 60 for advances made for the supply of products and services.
• Debit balance of account 76, subaccount “Insurance payments”;
• The debit balance of the account is 73, excluding the amounts of loans on which interest is accrued;
• Debit balance of account 58, subaccount “Granted loans for which interest is not accrued.”
• Debit account balance 75;
• Debit account balance 68, 69
• The debit balance of the account is 71.

Line “Financial investments” 1240 - the sum of indicators is entered:

• account balance 58 minus account balance 59;
• account balance 55, subaccount “Deposits”;
• account balance 73, subaccount “Loan settlements”.

Line “Cash” 1250 - the sum of account balances 50, 51, 52, 55, 57 is entered.

Line “Other current assets” 1260 - indicators that should be shown in the section, but were not included in any previous line.

The line “Total for section” 1200 is the sum for lines from 1210 to 1260.

Line “Balance” 1600 - the sum of lines 1100 and 1200.

Capital and reserves

Line “Authorized capital of the organization” 1310 - account balance 80.

Line “Own shares” 1320 - account balance 81.

Line “Revaluation of non-current assets” 1340 - account balance 83 in terms of the amounts of revaluation of fixed assets and intangible assets.

Line “Additional capital” 1350 – account balance 83 without the amounts of additional valuation of fixed assets and intangible assets.

Line “Reserve capital” 1360 - the sum of account balances 82, as well as 84 in terms of special funds.

Line “Retained earnings (uncovered loss)” 1370 - account balance 84 without special funds.

Line “Total for section” 1300 - the sum for lines 1310, as well as from 1340 to 1370 minus line 1320.

long term duties

Line “Borrowed funds” 1410 - account balance 67, including the amount of loans and interest accrued on them.

Line “Deferred tax liabilities” 1420 - account balance 77, it can be reduced by account balance 09.

Line “Estimated liabilities” 1430 - account balance 96 for the subaccount of estimated liabilities for more than 12 months.

Line “Other liabilities” 1450 - credit balances of accounts 60, 62, 68, 69, 70, 76 for which liabilities with a maturity period of more than 12 months are reflected.

Line “Total for section” 1400 - the sum for lines from 1410 to 1450.

Short-term liabilities

Line “Borrowed funds” 1510 - account balance 66, including loan amounts and interest accrued on them.

Line “Accounts payable” 1520 - The amount of indicators is entered in the court:

• Balances of accounts 60 and 76, which show the debt to suppliers and contractors;
• The balance on the credit of account 70, except for the debt on payment of income on shares and shares;
• The balance on the credit of the sub-account “Settlements on deposited amounts” of account 76;
• Credit balances of accounts 68 and 69;
• Account credit balance 71;
• Balances on the subaccounts “Calculations for claims” and “Calculations for property insurance” on account 76;
• Credit balances on accounts 76 and 62 for advances received;
• Credit balance on the subaccounts “Calculations for the payment of income” of account 75 and “Calculations of income for the payment of income on shares” of account 70

Line “Deferred income” 1530 - loan balances for accounts 86 and 98.

Line “Estimated liabilities” 1540 - balance from account 96 in the subaccount of estimated liabilities for less than 12 months;

Line “Other short-term liabilities” 1550 - other short-term liabilities that cannot be included in the previous terms of Section V.

The line “Total for section” 1500 is the sum for lines from 1510 to 1550.

Line “Balance” 1700 - the amount for lines 1300, 1400 and 1500.

Other non-current assets - what are they on the balance sheet?

“Other non-current assets” - in the balance sheet, these are, as already mentioned, non-current assets that are not reflected in other lines of Section 1 “Non-current assets”.

Other non-current assets of the organization may include, for example:

• investments in non-current assets of the organization, accounted for in the corresponding subaccounts of account 08 “Investments in non-current assets”, in particular, the organization’s costs for objects that will subsequently be taken into account as intangible assets or fixed assets, as well as costs associated with the implementation of incomplete R&D, if the organization does not reflect these indicators;
• equipment for installation (equipment requiring installation), as well as related transportation and procurement costs, reflected in accounts 15 and 16;
• a one-time lump sum payment, provided that the period for writing off these expenses exceeds 12 months after the reporting date or the duration of the operating cycle, if it exceeds 12 months;
• the amount of transferred advances and advance payment for work and services related to the construction of fixed assets.

Read about the rules for accounting for investments in non-current assets in the article “Rules for accounting for investments in non-current assets”.

What is included in the active part of the balance sheet

This is any property of the institution. For example, cash on hand, inventories, fixed assets, buildings, machines and other material and financial assets that directly belong to the company.

The assets of the balance sheet group the current and non-current assets of the enterprise. When preparing reports, it should be taken into account that a balance sheet asset is a grouping of assets according to their useful life, as well as according to the speed (time) of their turnover, that is, liquidity.

In the form of a balance sheet, assets are grouped according to their degree of liquidity. The resources of the enterprise that are the least liquid are indicated first, and then in ascending order. In other words, a balance sheet asset is a grouping of economic resources according to the speed of their circulation into means of payment.

Let us note that the most liquid assets are, of course, cash: cash in the cash register and in the company’s current accounts. And the least liquid include the institution’s fixed assets, intangible assets and long-term financial investments, which cannot be realized quickly and without losses.

The assets of the balance sheet present in grouped form the accounting indicators as of the reporting date. Analysis of these accounting indicators allows us to draw a conclusion about the solvency of the enterprise.

Current liabilities in the balance sheet are line 1500 of the balance sheet

Often, accountants, when filling out tables characterizing the financial condition of an organization, encounter difficulties when it is necessary to indicate current liabilities, because this concept is absent in regulatory documents on accounting and taxation.

To determine where current liabilities are reflected on the balance sheet, let us turn to the meaning of this term. The Financial Dictionary defines current liabilities as accounts payable due within the next 12 months. In other words, current liabilities are synonymous with current liabilities. Short-term liabilities are reflected in section V of the liability side of the balance sheet. Thus, current liabilities in the balance sheet are line 1500 “Total for Section V”, which is defined as the sum of lines 1510, 1520, 1540, 1550, 1530 of the balance sheet liabilities.

Find out when the balance sheet is submitted (deadlines, nuances) here .

Results

The balance sheet is the main component of financial statements, a summary of the financial performance of an organization as of a certain date. It is drawn up in a certain form and according to certain rules. It is submitted to the tax office and also presented to other interested users. Starting from June 1, 2021, you must use the form as amended on April 19, 2019.

Sources:

• Order of the Ministry of Finance of Russia dated April 19, 2019 N 61n
• Order of the Ministry of Finance of the Russian Federation dated October 31, 2000 N 94n

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