Accounting. Balance sheet: concept, content, structure (the most important)

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Accounting. Balance sheet: concept, content, structure (the most important)

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29. Balance sheet: concept, content, structure

Balance sheet - a method of economic grouping of property according to its composition, location and sources of its formation at a specific point in time.

Balance sheet - two-sided table. The left side of the balance sheet shows the property by composition and location - this is the balance sheet asset, the right side reflects the sources of formation of this property - this is the balance sheet liability.

The basis for building a balance sheet is the grouping of accounting objects according to their functional role in the process of economic activity and sources of formation.

The balance sheet consists of 5 sections:

▪ non-current assets;

▪ current assets;

▪ capital and reserves;

▪ long-term liabilities;

▪ short-term liabilities.

In the conclusion of the balance sheet there is a special line for assets and liabilities - "balance currency".

Typical balance sheet structure contains the following numbers.

Assets. Section 1. Non-current assets.

1. Intangible assets: rights to objects of intellectual property; patents, trademarks, service marks, organizational expenses; business reputation of the organization.

2. Fixed assets: land plots and objects of nature management; buildings, machinery, equipment, construction in progress.

3. Profitable investments in material values: property for leasing, provided under a rental agreement.

4. Financial investments: investments in subsidiaries, dependent companies; loans granted to the organization for a period of more than 12 months; other financial investments.

Section 2. Current assets.

1. Stock: raw materials, materials and similar values; costs in work in progress; finished products, goods for resale and shipped; Future expenses.

2. Receivables: buyers and customers; bills receivable; debt of subsidiaries and affiliates; indebtedness of participants on contributions to the authorized capital.

3. Financial investments: loans provided by the organization for a period of less than 12 months; own shares purchased from shareholders; financial investments.

4. Cash: settlement accounts; currency accounts; cash.

Passive. Section 1. Capital and reserves.

Charter capital. Extra capital. Reserve capital: reserves formed in accordance with the legislation and constituent documents. Undestributed profits.

Section 2. Long-term liabilities.

1. Borrowed funds: loans maturing more than 12 months after the reporting date; loans maturing more than 12 months after the reporting date.

2. Other liabilities.

Section 3. Current liabilities.

1. Borrowed funds: loans repayable within 12 months after the reporting date; loans maturing within 12 months after the reporting date.

2. Accounts payable: suppliers and contractors; bills payable; debt to subsidiaries and dependent companies; before the staff of the organization; before the budget and state off-budget funds; to the participants on the payment of income; advances received.

3. revenue of the future periods: reserves for future expenses and payments.

Author: Kabkova E.N.

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