Accounting. Basic rules of balance (most important)

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Accounting. Basic rules of balance (most important)

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30. Basic rules of balance

Balance sheet is a method of generalized reflection of the composition of the enterprise's funds for their placement and sources of their formation on a certain date in monetary terms.

The main rule of the balance sheet of an enterprise is that it is necessary to reflect the economic assets of the enterprise, on the one hand, according to their placement, and on the other hand, according to the sources of their formation.

Economic means of the enterprise and sources of their formation the balance sheet reflects as of a certain date, i.e. the balance sheet does not characterize the movement of economic assets and their sources of formation. The receipt and expenditure of these funds can be studied according to current accounting data. The indicators of the state of economic assets and the sources of their formation, contained in the balance sheet, are very important material for analyzing the economic activity of an enterprise. When compiling the balance sheet and reporting, consolidated and generalized in monetary terms information about the availability and placement of economic assets, the sources of their formation, as well as their use is revealed.

Balance means equality. It should always contain equality of the results of the asset and liability (the property of the economy is equal to the sources of its formation). Since the balance reflects the state of the funds, each operation causes its changes.

Depending on the impact on the balance sheet, all business transactions are usually divided into four types.

1. First type of business transactions.

This type includes operations for the receipt of funds to the current account from the cash desk or from debtors, the issuance of money from the cash desk to accountable persons, the return of unspent amounts by the accountable person to the cash desk, the release of materials from the warehouse to production, the receipt of finished products from production to the warehouse, shipment finished products from the warehouse to customers, etc.

Business transactions of the first type cause changes in the assets of the balance sheet, the total (currency) of the balance sheet does not change.

2. The second type of business transactions.

The second type includes operations to withhold taxes from the wages of workers and employees, use profits to create special-purpose funds, etc.

Business operations of the second type lead to a change only in the liabilities side of the balance sheet. The total balance sheet does not change.

3. The third type of business transactions.

They cause an increase in the item in the asset and in the liabilities side of the balance sheet, the totals of the asset and liability increase, but the equality between them remains. There is an increase in economic resources.

This type includes business transactions related to the receipt of fixed assets, the calculation of wages for workers and employees for the manufacture of products, the receipt of materials from suppliers, etc.

Operations of the third type lead to a simultaneous increase by the same amount of one article in the asset, and the other - in the liabilities side of the balance sheet. The balance sheet increases. Equality is maintained.

4. The fourth type of business transactions.

Operations of the fourth type cause a decrease in the assets and liabilities of the balance sheet, the total assets and liabilities of the balance sheet decrease by an equal amount. Equality between them is maintained.

Author: Kabkova E.N.

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