Opening (constituent) balance sheet of organizations: features

Purpose of opening balance

Definition 1
The balance sheet is an economic model that links the assets, equity capital and liabilities of an organization and allows users of financial statements to assess the financial position of a business entity as of a certain date.

There are many types of balance sheets. The formation of a balance sheet of one type or another depends on the purpose pursued by the persons interested in this information. In the case when it is necessary to reflect data on the organization’s property and the sources of their origin at the time of the start of its activities, an opening balance sheet is formed.

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What is a balance sheet?

The balance sheet is a value (quantitative) expression as of a certain date of groups of economic assets, in other words, property that differs in their composition, as well as their functional role in reproduction.

Economic assets in the balance sheet are grouped for a certain period.

The information presented in the balance sheet is intended for various users (external and internal).

With the help of the balance sheet, the owners of the enterprise, as well as its management staff, have the opportunity to assess the property status of the organization.

Thus, using balance data, these categories of users make different decisions.

Balance sheet is a required report type. That is, this report is provided by absolutely all types of organizations.

The balance sheet is a standard form of reporting. The deadlines, as well as the form of the report, are regulated by relevant legislation.

The balance sheet is drawn up based on accounting data. This report can be compiled for a year, nine, six or three months. The balance is provided strictly within the specified period.

Users of the information presented in the balance sheet have the opportunity to analyze the property status of the enterprise, as well as monitor the dynamics of changes in the main indicators of the report for a certain period.

The balance sheet consists of a table that is divided into two equal interconnected parts. On the left side of the balance sheet is the asset. It reflects the location and composition of the enterprise's economic assets.

On the right side is a section called “passive”. It reflects the sources through which the economic assets indicated in the asset were formed.

Balance sheet items are lines (indicators) of liabilities and assets of the report. The total lines of assets and liabilities are always equal. Only in this case is it considered that the report has been compiled without errors.

This is due to the fact that assets and liabilities are a reflection of the same information in different groups.

If you translate the word “balance” from French, you get “equilibrium.” This translation fully reflects the essence of balance.

The balance sheet totals are called “currency.”

All balance sheet items or lines are combined into sections and subsections. Today, enterprises use several types of balance sheets. They allow you to display various information.

Naturally, there are many interested users for different types of balances. It is for them that various types of reports are compiled.

The types of balance sheets depend on the purpose for which the report is being prepared and for whom. Thus, the balance sheet can be compiled not only at the enterprise level, but also at the country level.

The following types of balances are distinguished:

• - introductory;
• — annual or final;
• - periodic;
• - separating;
• - connective or fusional;
• - sanitized;
• - consolidated;
• — balance of income and expenses;
• — report on cash income and expenses, etc.

Features of the opening balance

According to the provisions of Russian accounting standards, economic entities are required to form an opening balance sheet in the following cases:

1. When creating a new legal entity.
2. During reorganization, that is, the formation of a legal entity by:
   • transformations;

   mergers;

3. discharge;
4. divisions;
5. accession.

The opening balance sheet, both when creating a new legal entity and its emergence as a result of the reorganization of two or more organizations, is compiled as of the date of state registration. This date is considered to be the date of entry of the relevant information into the Unified State Register of Legal Entities (USRLE).

Projected balance sheet: what is it and what is it used for

Sustainable development of any organization is impossible without high-quality planning of activities. If activities are left to their own devices and results are recorded only after the fact, without comparison with the goals set, it is very difficult to talk about development prospects.

Planning is not just a formal procedure consisting of comparing a plan with a fact. It helps to coordinate and utilize all the organization’s resources, identify growth reserves, avoid cash gaps and shortages of raw materials, and also prompt management to make the right management decisions.

The planning results are presented in the form of a forecast balance - a reporting form that sets out the desired results of the organization's activities at the end of the forecast period. It can be compiled both by divisions or areas of activity (for large organizations), and for the company as a whole. In this case, it is called the “consolidated forecast balance” and allows you to link into a single whole and coordinate the activities of different shops, services and departments. For example, we may be talking about drawing up a separate consolidated balance sheet of production and supplies, and a consolidated forecast balance sheet for the entire organization.

Drawing up a forecast balance will allow you to:

• plan and control the movement of all assets and liabilities of the company;
• calculate financial indicators that indicate successes or shortcomings in business activities;
• detect hidden financial problems of the organization (for example, decreased liquidity).

Opening balance when creating a new organization

When a new legal entity is formed, the first step is to form the authorized capital. Data on the size of the authorized capital and the property with which it was formed are reflected in the opening balance sheet.

Let's look at the formation of the authorized capital and its reflection in the opening balance sheet using an example.

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Example 1

On July 3, 2017, an entry was made in the Unified State Register of Legal Entities about the state registration of Sever LLC. The founders of Sever LLC were 3 individuals, who contributed the following property as their contributions on 07/03/2017:

1. Ivanov I.I. – equipment worth 500 thousand rubles;
2. Petrov P.P. – materials worth 250 thousand rubles;
3. Sidorov S.S. – funds in the amount of 250 thousand rubles to the organization’s cash desk.

The accounting records should reflect the following facts of the economic life of Sever LLC as of 07/03/2017:

As of July 3, 2017, the opening balance sheet of Sever LLC was formed (simplified version):

Opening (constituent) balance sheet of organizations: features

The opening balance is drawn up at the time of establishment of the organization. It determines the sum of values ​​with which an organization begins its activities.  

The opening balance sheet is a set of certain assets and sources of their formation that the organization has at the beginning of its statutory activities on the date of its registration. This balance is made by a newly created organization in place of a previously functioning one as a result of reorganization procedures.  

The opening balance sheet for operations is characterized by limited capital of the owner, the absence of debt obligations to third parties and refers to inventory balances.  

Opening balance (initial) is the first balance drawn up at the beginning of the enterprise’s activities. Its assets reflect the composition of the enterprise’s property received during its organization, and its liabilities reflect the sources of its origin. The opening balance sheet contains fewer items than subsequent balance sheets, reflecting the results of business activities for a certain period of time. Before drawing up the opening balance sheet, as a rule, an inventory and assessment of the company’s property is carried out.  

The opening balance is drawn up at the time of establishment of the organization. It determines the sum of values ​​with which an organization begins its activities.  

The opening balance is drawn up at the time of establishment of the enterprise. It determines the amount of values ​​with which the enterprise begins its activities.  

The opening balance is drawn up at the time of establishment of the enterprise. It reflects the capital with which the organization begins its activities.  

Closing and opening balances are presented and approved in the prescribed manner (before approval, agreement is made with the relevant financial  

Let's look at the opening balance sheet and try to understand (interpret) the economic situation reflected in it using three criteria: leverage, liquidity and profitability.  

Entering the opening balance on accounts for the first accounting period can continue for quite a long time, until the closing of the accounting period.  

Accounting for a given business entity begins with the opening balance sheet. There are opening balance sheets of newly created enterprises and business units formed on the terms of succession of previously operating ones. In the first case, the opening balance sheet reflects the authorized capital registered in the charter of the enterprise, and inventory lists of actually contributed property and property (mainly monetary) obligations of the founders for contributions to the authorized capital.  

The opening balance sheet data must correspond to the approved closing balance sheet data for the period preceding the reporting period. If the opening balance changes as of January 1 of the reporting year, the reasons should be explained.  

How does the opening balance differ from the initial balance?  

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Each enterprise can be registered and begin its activities only if it has an authorized capital. The opening balance sheet reflects the formation of the authorized capital upon creation of the enterprise.

The authorized capital of commercial structures is formed from share contributions of the founders in the form of cash or any property. The founders have the right to expect to receive income when the company begins to operate at full capacity and make a profit. The authorized capital of state-owned enterprises is formed from funds allocated from the budget.

Accounting for the authorized capital is carried out on passive account 80 “Authorized capital”. The creation and increase in the authorized capital is reflected in the credit of this account, and the decrease in capital is reflected in the debit of account 80.

Settlements with founders are reflected in active-passive account 75 “Settlements with founders”. The credit of account 75 records the contributions of the founders to the authorized capital, and the debit reflects the payment of income to the founders. .

Let's look at an example of how the authorized capital is formed and the opening balance sheet is compiled.

Example 4. Drawing up an opening balance sheet.

Three founders created a small enterprise and formed an authorized capital.

3.2. Features of the constituent (opening) balance sheet

The founders contributed as share contributions to the authorized capital:

Sokolov S.S. - 1000 USD (at the rate of 30 rubles) and a set of tools worth 10,000 rubles; Smirnov A. A. - computer equipment in the amount of 27,000 rubles, patent in the amount of 16,000 rubles; Sidorov V.V. - mobile communications equipment in the amount of 25,000 rubles, materials - 12,000 rubles.

Exercise.

1. Compile a journal of business transactions, which should reflect the formation of the authorized capital (Table 4).

Table 4

2. Prepare the opening balance sheet of a small enterprise.

Date of publication: 2015-01-15; Read: 198 | Page copyright infringement

“According to the requirements of PBU 4/99 (clause 35), “the balance sheet must include numerical values ​​in a net valuation, i.e., minus regulatory values, which must be disclosed in the notes to the balance sheet and the financial results statement.” According to the Federal Law “On Accounting”, some organizations are required to publish annual financial statements. Order of the Ministry of Finance of Russia dated November 28, 1996 No. 101 approved the procedure for publishing annual financial statements by open joint-stock companies. This publication is made after verification and confirmation of the statements by an independent auditor and approval by the general meeting of shareholders. The Balance Sheet and Profit and Loss Statement are required to be published. The balance sheet may be published in an abbreviated form, which, depending on the size of the volumetric indicators, may include total indicators for sections or indicators for groups of articles provided for in clause 20 of PBU 4/99 “Accounting statements of an organization”.

Chapter 2. Classification of balance sheets

Balance sheets are classified by type depending on the purpose of their preparation.

1) by sources of compilation

— book balance

, a balance sheet that is constructed according to current accounting data based on the balances of the General Ledger accounts without preliminary verification of these balances through inventory.

— inventory

compiled on the basis of data from the inventory list of the organization’s property and obligations, formed based on the results of the inventory. The basis for constructing such a balance is the principle of control over the state of the organization’s property and liabilities. An example of an inventory balance is the opening or organizational balance. Inventories are also developed in cases where it is necessary to calculate the balancing indicators of the opening balance sheet of an individual private enterprise or a state (municipal) enterprise, which is recognized as the Owner's Capital or Authorized Capital, as well as when a new enterprise arises on a previously existing property basis or when the economy changes its form ( for example, transforming it from a state-owned company to a joint-stock company).

— general balance

is considered the most realistic, since it is based on current accounting (book) records and inventory results preceding the formation of balance sheet items.

In practice, the balance sheet is compiled on the basis of data from accounting accounts, previously adjusted in accordance with the results of the inventory. Thus, the inventory balance is a refined version of the book balance.

2) according to the timing of compilation

— opening balance

– this is the balance formed at the time of creation of the organization, i.e. its state registration. In other words, this is the first balance sheet drawn up at the beginning of the enterprise. Its assets reflect the composition of the enterprise’s property received during its organization, and its liabilities reflect the sources of its origin. The opening balance sheet contains fewer items than subsequent balance sheets, reflecting the results of economic activities for a certain period of time. Before drawing up the opening balance sheet, as a rule, an inventory and assessment of the enterprise's property is carried out. A distinction is made between the opening balance sheets of newly created enterprises and business units formed on the terms of succession of previously operating ones. In the first case, the opening balance sheet reflects the authorized capital registered in the Charter of the enterprise, and inventory lists of actually contributed property and property (mainly monetary) obligations of the founders for contributions to the authorized capital.