Accounting financial accounting. Concept and composition of financial statements (the most important)

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Accounting financial accounting. Concept and composition of financial statements (the most important)

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81. CONCEPT AND COMPOSITION OF ACCOUNTING STATEMENTS

Formation of financial statements of the organization is the final stage of the accounting process. Financial statements as a unified system of data on the financial position of the organization, the financial results of its activities and changes in its financial position are compiled on the basis of accounting data.

К main regulatory documents, which determine the procedure for compiling and disclosing information in financial statements, include: Federal Law “On Accounting”; PBU 4/99 "Accounting statements of an organization"; Chart of accounts for accounting of financial and economic activities of an organization and instructions for its use; order of the Ministry of Finance of the Russian Federation "On the forms of financial statements of organizations"; Methodological recommendations for the preparation and presentation of consolidated financial statements; Guidelines for the preparation of financial statements during the reorganization of organizations; Methodological recommendations for disclosing information on profit per share, etc.

The content and forms of the balance sheet, income statement, other reports and applications are applied consistently from one reporting period to another. In the financial statements, data on numerical indicators are given for at least two years - the reporting and preceding the reporting one. If they are incomparable with the data for the reporting period, they are corrected based on the rules established by regulatory enactments. If errors are detected before the approval of the financial statements, corrections are made in December of the year. After the approval of the financial statements, changes can be made to them, but a set-off between the items of assets and liabilities, items of profit and loss, except for cases when such a set-off is provided for by the rules established by regulatory enactments, is not allowed. The explanatory note to the financial statements indicates the indicators that have been adjusted and the reasons for it.

Accounting statements of organizations (except for credit organizations, insurance organizations and budgetary institutions) composed of:

▪ balance sheet (form No. 1);

▪ profit and loss statement (form No. 2);

▪ statement of changes in capital (form No. 3);

▪ cash flow statement (form No. 4);

▪ appendices to the balance sheet (form No. 5);

▪ explanatory note;

▪ auditor's report.

An auditor's report on the reliability of financial statements is included in its composition if the organization is subject to a mandatory audit or has taken an initiative decision to conduct an audit and publish an audit report.

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