Composition of accounting (financial) statements.

Publicity of reporting

There are a number of companies that are required to publish financial statements. That is, the data of their activities must be available to all interested parties (Clause 9, Article 13 of the Federal Law of December 6, 2011 No. 402-FZ).

You can find out whether an organization must publish reports by analyzing the law governing the company's activities. For example, self-regulatory organizations are required to publish reports (clause 11, clause 2, article 7 of Federal Law No. 315-FZ of December 1, 2007).

Joint-stock companies must disclose their annual reports (Clause 1, Article 92 of Law No. 208-FZ of December 26, 1995).

Reports must be published before June 1 (clause 46 of Order of the Ministry of Finance of the Russian Federation dated July 6, 1999 No. 43N).

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The concept of financial statements

Reporting is a system that records the results of a company’s activities during the reporting period. It combines tables generated on the basis of statistical, operational and accounting indicators. This is the final stage of accounting. Reporting is needed for a number of purposes:

• Analysis of the efficiency of the enterprise by external structures.
• Analysis of economic indicators within the company.
• Operational work management.
• Based on the data obtained, further activities are planned.

All reporting information must be truthful. To check the reality of the information provided, the specified values ​​are compared with data for previous periods. The document is formed according to the forms established by the Ministry of Finance of the Russian Federation.

Frequency of document creation

Reporting is divided into types based on the frequency of its formation:

• Annual. Carried out on the basis of paragraph 2 of Article 13 of the Federal Law of December 6, 2011 No. 402.
• Intermediate. Formed over a period of less than 12 months. The obligation to draw it up can be established both by law and by internal documents of the company. Detailed information about this reporting form is contained in paragraph 4 of Article 13 of the Federal Law of December 6, 2011 No. 402.

Almost all companies are required to prepare an annual form. Interim reporting is relevant only for a number of companies.

Compound

In 2021, companies are required to prepare interim and annual reports. The first combines:

• Balance. Compiled according to form No. 1.
• Profit and expense report. Formed according to form No. 2.
• Report on the movement of financial flows.
• A note with the necessary explanations.

The composition of the annual accounting statements was approved by the Federal Law of November 21, 1996 No. 129:

• Balance.
• Profit and loss report.
• Appendix to the report.
• Report on changes to the charter capital.
• Financial flow report.
• Report on the intended use of money.
• Audit conclusion (if required) that the information presented is accurate.
• Explanatory note.

IMPORTANT! An audit is considered mandatory for a number of organizations. However, some companies make a voluntary decision to audit. In this case, the results of the audit are also included in the reporting.

Details

Reporting forms and specifics for filling out the document are established by the Ministry of Finance of the Russian Federation. The explanatory note contains the following information:

• Evaluation of business transactions carried out by the company. It may include the extent of the sales market, exports carried out, and the company’s reputation in the market.
• Execution of the set plan, compliance with the established growth rates.
• Efficient use of available resources.
• Dynamics of key activity values ​​over several years.
• Planned capital investments.
• Economic activities carried out.

This list is recommended. It makes sense in the note to indicate information that may be of interest to persons using the reporting.

FOR YOUR INFORMATION! Reporting is generated based on external users. For example, these could be counterparties, various commercial structures.

How to draw up a balance sheet

The balance is compiled based on data on accounts at the end of the year. Includes two sections, the results of which must be equal. It's an asset and a liability. The balance sheet was once called Form No. 1.

Types of balance sheet: simplified and complete. The first option may be small businesses. The rest present a balance sheet with a detailed breakdown by item.

The deadline for submitting the balance sheet for 2021 is 03/31/2021.

In 2021, the balance sheet form approved by Order of the Ministry of Finance dated April 19, 2019 No. 61n is in force. Among the latest changes, you now need to indicate in the form:

• whether a mandatory audit is carried out;
• audit firm data;
• Amounts in thousands of rubles and in millions can no longer be reported;
• activity code according to OKVED2.

Users of financial statements

The composition of the reporting is determined by the needs of its users. They are divided into two categories:

• Internal. These are company employees. They need information from reporting to plan the company’s activities and track results. The document is used by administrators, managers, and persons responsible for the development of the organization and its financial results.
• External. These may be investors, creditors, tax authorities, banking institutions, insurance companies. Reporting information is needed to make a decision on issuing a loan, starting cooperation, checking the legality of the company’s activities, and for information purposes.

A detailed presentation of data is a sign of a reliable company that is aimed at finding investors and creditors. Based on the information in the reporting, one can draw a conclusion about the success of the organization. With positive indicators, the company has more opportunities to receive investments, loans, and contracts.

Example of filling out a balance sheet

Flags LLC was created in 2021. At the end of the year, the chief accountant (who is also the director) compiled a balance sheet based on the balance sheet for the accounting accounts. Since this is the first year of activity, there are no figures for the previous two years. Account balances are presented in the table.

Line 1150 of the balance sheet records the difference between accounts 01 and 02, that is, the residual value of fixed assets is reflected.

Balances on account 10 are entered in line 1210. VAT must be taken into account in line 1220. All funds are reflected in line 1250 of the balance sheet asset (15 + 88 = 103).

For authorized capital there is line 1310, and for retained earnings there is line 1370.

The balance of account 66 (loans) is reflected in line 1510. All debt to creditors is in line 1520 (40 + 45 +14 +37 = 136).

At the end of filling out the balance, you need to compare lines 1600 and 1700 - they must be equal. In the example, the balance sheet total is 300 thousand rubles.

balance sheet

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Filling out reporting forms

Balance (f. 0503730). It reflects the indicators (account balances) as of the beginning and end of the financial year by type of financial support (activity) of the institution:

• activities with targeted funds (columns 3, 7) (includes indicators for targeted subsidies (code 5) and budget investments (code 6));
• activities for the provision of works (services) (columns 4, (includes indicators for income-generating activities (code 2), subsidies for the implementation of state (municipal) tasks (code 4));
• funds at temporary disposal (columns 5, 9) (includes indicators under code 3).

The assets of the balance sheet reflect data on the non-financial and financial assets of the institution, the liabilities - data on the presence of liabilities and indicators of the financial performance of the institution.