The concepts of asset and liability are the main components of the balance sheet of an organization, which summarizes materials about the activities and economic situation of the enterprise. Let us consider in more detail what the sections and items of the balance sheet show, as well as what is reflected in the assets and liabilities of the balance sheet.

The sections of the enterprise's balance sheet are shown in tabular form: the left side is Asset, the right side is Liability.

To submit Form 1 of the financial statements to the Federal Tax Service, according to Order of the Ministry of Finance dated July 2, 2016 N 66n, the balance sheet of the enterprise is detailed by item. Detailing by item allows you to highlight the main types of property and liabilities of the enterprise.

In essence, balance sheet items are indicators of assets and liabilities of the balance sheet, which characterize economic assets and sources of formation by individual types. Using the list of balance sheet items, you can always obtain summary indicators for the statements for analyzing the financial activities of the enterprise.

To fill out data on balance sheet items, enterprises use the balances in their accounting accounts as of the reporting date, in accordance with PBU 4/99.

An important rule when drawing up a balance sheet for an enterprise is that the amount of an asset should always be equal to the amount of a liability.

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The assets of the enterprise's balance sheet reflect the following economic assets:

• fixed assets on account 01;
• intangible assets on account 04;
• investments in non-current assets on accounts 07 and 08;
• accounts receivable on accounts 62; 76; 73, etc.;
• financial investments on account 08;
• inventories on accounts 10; 26; 41; 43, etc.;
• funds in accounts 50; 51; 52; 55, etc.

The liability side of the enterprise’s balance sheet shows the sources of formation of economic assets:

• profit on accounts 84 and 99;
• authorized capital on account 80;
• reserve capital on account 82;
• additional capital on account 83;
• long-term loans and borrowings on account 67;
• short-term loans on account 66;
• accounts payable on accounts 60; 76; 70; 68 and 69.

It is important to note that the assets and liabilities of the balance sheet reflect different aspects of accounting for economic assets; they are interrelated. That is, when an asset increases by a certain amount, it is necessary to increase the liability by the same amount. This principle of increasing amounts also applies to liabilities.

How are the assets and liabilities of the balance sheet formed?

Let's look at it in more detail using an example.

Example 1. Let's say an enterprise purchased a fixed asset worth 500,000 rubles. for the production of semi-finished products.

Fixed assets are reflected in the asset, that is, the amount of the enterprise’s asset increased by 500,000 rubles. The other side is that you need to pay the supplier 500,000 rubles for the fixed asset. The debt to the supplier is reflected in the liability, that is, the company's liability also increased by 500,000 rubles. Therefore, the main condition is met: Active = Passive

Example 2. Let’s say an enterprise has taken out a loan from a bank in the amount of 750,000 rubles.

The enterprise's debt to the bank is reflected in the liability, that is, the enterprise's liability increased by 750,000 rubles. The other side is that after transferring the received loan, the amount in the current account increased by 750,000 rubles. Cash in the company's current account is reflected in the asset, that is, the company's asset increased by 750,000 rubles. Therefore, the main condition is met: Active = Passive

Conclusion: Assets participate in the economic activities of the enterprise to generate profit, and liabilities are sources of increasing assets, and must always be equal.

Since it is the main type of accounting reporting, it carries a meaning dedicated to the financial condition of the business entity. At the same time, a beginner may find its structure incomprehensible and confusing, because in addition to complex page numbering, one also has to deal with the concept of codes, which sometimes becomes a whole problem. This article is devoted to decoding the lines of the balance sheet.

Download the form Balance sheet (form according to OKUD 0710001) possible by .

Simplified Balance Form available at .

Let's look at all the balance line codes by section.

Section 1 - Non-current assets

This section contains information about what low-liquidity assets the company owns. Usually these are equipment, premises, buildings, intangible assets and others.

Section 2 - Current assets

Current assets are the most highly liquid assets of an enterprise. These include goods, accounts receivable, money in cash and accounts, etc.

Section 3 - Capital and reserves

Section 4 - Long-term liabilities

Section 5 - Current Liabilities

Assignment of codes and numbers

Codes for certain lines must be indicated in a certain column. It is worth noting that codes are needed mainly so that statistical authorities can combine information presented in different types of balance sheets into one whole. The codes are mandatory to fill out when the balance sheet being compiled must be transferred to state executive structures with further use of information on them.

In a situation where the balance sheet is prepared for a quarter or other reporting period, in order for it to be considered at internal meetings for the purpose of introducing the state of affairs or analyzing the company’s activities, it is not necessary to fill in the code lines, since they do not carry any responsibility in this case no functions.

Line coding is performed only if this reporting documentation is submitted to government agencies and is not an obligation for the internal preparation of reporting balances. Since financial statements are submitted to the tax authorities only once a year, the coding applies only to annual balance sheets.

Comparison with old format codes

Previously, the line code consisted of three digits. At the moment, only those codes that are specified in a special appendix to Order 66 of the Ministry of Finance are being considered. This is app #4 which sets up four digit codes for use.

The encoding of the old form differs from the new one only in that the list of these lines changes, their encoding turns into a four-digit indicator, and the detail of the information provided in the balance sheet changes slightly. The row assignments remain the same.

Updated format strings and codes

It should be noted that the asset has a specialized format based on the liquidity factor of the property that the organization has. The least liquid of it will be located at the very top of the column, since it is this property that remains almost unchanged from the beginning of the organization until its liquidation.

The asset lines in the new balance sheet are: 1100, 1150-1260, 1600.

A liability tends to reflect where the company gets money for its operation. And also what part of these funds is the property of the company, and what part is borrowed and requires repayment. This part of the balance sheet plays an important role, since when compared with the asset, one can accurately say whether the company has the funds to successfully continue its activities, or whether the time will soon come to “wind up shop.”

The lines reflecting the passive part of the balance are: 1300, 1360-70, 1410-20, 1500-1550, 1700.

How to decrypt strings

In order to understand how the process of deciphering codes line by line is carried out, it is worth understanding that not a single code is a simple set of numbers. This is a code for a certain type of information.

1. The first value confirms the fact that this line relates specifically to the main type of accounting statements, or rather, to the balance sheet, and not to another type of reporting documents.
2. The second digit indicates which section of the asset the amount belongs to. For example, a unit indicates that the amount belongs to non-current assets.
3. The third figure serves as a certain indicator of the liquidity of this resource.
4. The fourth digit is initially equal to zero, adopted in order to provide some detailing of the items according to their materiality.

For example, deciphering line 1230 of the balance sheet is accounts receivable.

For a liability, decoding occurs according to the same principle as in the situation with an asset:

• The first digit indicates that it belongs specifically to the balance sheet for the year.
• The second figure demonstrates that this amount belongs to a separate section of the liability column.
• The third number indicates the urgency of the obligation.
• The fourth value is adopted for detailed perception of information.

The total liability is line 1700, which is the sum of line 1300 of the balance sheet, 1400 and 1500.

So, the process of deciphering the codes line by line in the balance sheet occurs on the basis of Appendix No. 4 to 66 Order of the Ministry of Finance. The structure of the codes themselves has a certain meaning. It is important to navigate in itself, or rather, in its sections and articles.

The balance sheet is one of the main forms reporting by the accounting department on the current financial position of the organization. This one is presented as two tables, which contains data describing all material property and existing debts for a certain period of time.

The balance sheet structure consists of two tables, one of them contains information about assets, and the other - about liabilities. In a properly prepared balance sheet, the numbers in the two tables will be the same.

Assets

An asset is called all property of the organization(equipment, transport, real estate, shares, etc.), which is expressed in monetary terms. A balance sheet asset combines everything that belongs to the organization and that, if necessary, can be sold, thereby converting into currency.

Assets are divided into several parts:

1. Non-negotiable. Such assets contain information about all property that will be used for a long period of time, usually longer than a year. Such assets include used equipment, long-term financial investments, real estate, etc.
2. Negotiable. The main indicator in this section will be assets that the organization actively uses, and in their absence, timely replenishment is required in a short period of time, this is less than a year. This type of asset includes money, materials needed for production, raw materials, etc.

Passive

Passive shows sources of receipt of all property of the organization, that is, its assets. A liability has its own balance of attracted funds.

Liabilities are divided into several parts:

1. Short-term liabilities. This part displays all the company's existing debts, which must be paid as soon as possible, usually in less than a year. Such liabilities include debts for wages to employees, debts to suppliers, etc.
2. Long term circumstances. This part displays all existing debts, such as loans and borrowings, the repayment of which takes a long time (more than a year).
3. Reserve and capital. This part will sum up all the funds of the owners of the enterprise.

Today, the main form for the balance sheet is Form No. 1, its approval occurred on 07/02/2010.

But the approved form has only advisory nature for basic and important indicators of the enterprise. The enterprise itself, based on its own business and the peculiarities of its conduct, is able to supplement or delete unnecessary lines written in the form.

Compilation

The work of maintaining a balance comes down to entering all the correct data in the lines provided for them. Liabilities, like assets, consist of an ordered sequence of lines; each line contains data that relates to only one financial indicator.

The most important factor in the correct maintenance of all existing sections can be considered exact correspondence between a single indicator and the line in which it is entered. The information in all lines must take the form of a monetary unit.

If for some reason one of the indicators takes the value zero, then an explanation must be written for it as to how and why it took such a value.

In the end, the indicators that characterize business sections should take approximately equal values. Next, the following logic will apply: with the help of assets, you can see all the resources that the organization can currently manage, and with liabilities, you can understand where these resources came from.

Correct filling of passive lines

Filling out the balance sheet is carried out according to certain rules, which apply only to this section:

1. Authorized capital. This line indicates the amount of the authorized capital.
2. Reserve savings to cover unexpected expenses. To fill out this line, you need to total all reserve funds that were not used during the current year, as well as funds that carry over to the next year. This information can be found in the accounting report.
3. Reserve capital. This line must be filled in with all the data about the amount remaining from the initial capital.
4. . This line should record information about funds that were received during the reporting quarter.
5. Profit. This article must contain all available data on the income that the company received as a result of its activities during one reporting period. Also, when calculating, the amount of money spent on necessary expenses during this period will be calculated.
6. Accounts payable. In this line you must write down the amount of all debts that the organization has to the state, bank or other company.

How to fill out asset lines

1. Fixed assets. In this line you need to indicate the initial amount of the cost of all existing property in the enterprise, that is, all its available funds. But from the resulting amount you will need to subtract the total price of automation that was carried out during the operation of each type of property.
2. Capital investments. In this section you need to indicate the amount for one period that was spent on the construction of an office or other real estate, or write down the cost of the order already paid earlier.
3. Intangible assets. This article is needed to describe all amounts that are the property of the organization.
4. Equipment. This balance line is intended to determine prices for equipment at the time of its purchase.
5. Material values. This section should indicate the total cost of all resources used or available, such as fuel, packaging, spare parts for equipment, etc.
6. . In this line you need to indicate the amount that was spent on the purchase of various semi-finished products, materials and other raw materials necessary for the final product.
7. . This line is needed to display all the total costs that were incurred during one billing quarter.
8. Future expenses. The line is necessary to show the amount of all costs incurred that were previously incurred but relate to future periods.
9. Goods. The amount of all purchased goods is entered in this line.
10. Finished products. To enter data in this line, you need to sum up all finished products.
11. Accounts receivable. In order for the data entered in this line to be correct, prior agreement with debtors is required. This line displays the entire credit history and accounts receivable of the enterprise, as well as all available bank balances in foreign currency accounts, and other financial resources.

Kinds

Since there may be several sources of compilation, the balance sheet can be divided into several types:

1. General. This reporting will be generated on the basis of the data obtained, which became known as a result of the inventory.
2. Book. Filling out should be based on the information presented in the accounting documentation for the current quarter.
3. Inventory. It is formed in strict accordance with the information that became known after the inventory procedure of all the organization’s available funds. Since such a report will contain a huge amount of information, it must be submitted after shortening and simplifying it, but without missing the main points.

The structure of the balance sheet and the basic rules for maintaining it are presented in this video.

Balance sheet (form No. 1). Instructions, rules and filling procedure

Balance sheet- this is a way of generalizing and grouping the assets of the economy and the sources of their formation - liabilities - at a certain date in monetary value. Balance sheet indicators characterize the financial position of the organization as of the reporting date.

The main task balance sheet– show the owner what he owns or what capital is under his control. The balance sheet allows you to get an idea of ​​material assets, the amount of reserves, the state of payments, and investments. Balance sheet data is widely used for subsequent analysis by the organization's management, tax authorities, banks, suppliers and other creditors.

Consists of 2 main parts - asset And passive. The asset represents the organization's resources, and the liability represents the sources of their formation. A distinctive feature of the balance sheet is the equality of the totals of assets and liabilities. This is due to the double entry principle used in accounting.

Assets The balance sheet contains 2 sections:

• I. Non-current assets;
• II. Current assets.

Passive The balance sheet consists of 3 sections:

• III. Capital and reserves;
• IV. Long term duties;
• V. Short-term liabilities.

Each asset and liability element of the balance sheet is called balance sheet item. Asset items reveal the nature of resources, their use and magnitude. Liability items characterize the sources of resource formation, namely: from what source this part of the assets was created, for what purpose they are intended and their value.

When preparing a balance sheet, keep the following in mind:

• the balance sheet data at the beginning of the year must correspond to the data at the end of last year (taking into account the reorganization);
• offset between items of assets and liabilities, items of profit and loss is not allowed, except in cases where such offset is provided for by the relevant Accounting Regulations;
• the corresponding balance sheet items must be confirmed by inventory data of property, liabilities and settlements.

The standard form of the balance sheet is regulated by the Ministry of Finance (). However, organizations can independently develop a balance sheet form, using the standard one as a template. In this case, the general requirements for accounting reporting must be observed.

When developing and adopting the balance sheet form (Form No. 1), it is recommended to use the total line codes and line codes of sections and groups of items given in the sample balance sheet form. If a transcript is provided for any indicator in a balance sheet developed by an organization independently, then the articles in this transcript are coded by the organization itself.

The balance sheet contains the following required details:

• the reporting date as of which the balance sheet is presented;
• full name of the organization in accordance with the constituent documents;
• taxpayer identification number (TIN);
• the main type of activity of the enterprise with the OKVED code;
• organizational and legal form/form of ownership (according to the OKOPF and OKFS classifiers);
• unit of measurement - thousand rubles. (OKEY code 384) or million rubles. (OKEY code 385);
• location (address);
• date of approval (indicates the established date for the annual financial statements);
• date of sending/acceptance (the specific date of postal, electronic and other sending of financial statements or the date of their actual transfer according to ownership is indicated).

Total figures for balance sheet items are given in thousands of rubles without decimal places. Organizations with significant sales turnover, liabilities, etc. can provide data in millions of rubles (without decimal places).

Indicators about certain types of assets, liabilities, income, expenses and business transactions can be presented in the balance sheet in a total amount with disclosure in , if each of these indicators individually is not significant for the assessment by interested users of the financial position of the organization or the financial results of its activities.

Let's consider procedure for filling out Form 1 "Balance Sheet".

• accounted for in off-balance sheet accounts

In the column " At the beginning of the reporting year" shows data at the beginning of the year (opening balance sheet), which must correspond to the data in the column "At the end of the reporting period" of the previous year (closing balance sheet), taking into account the reorganization carried out at the beginning of the reporting year, as well as changes in the assessment of financial reporting indicators associated with the application of the Regulations on accounting and financial reporting in the Russian Federation and the Accounting Regulations “Accounting Policy of the Organization” PBU 1/98.

In the column " At the end of the reporting period" shows data on the value of assets, capital, reserves and liabilities at the end of the reporting period (month, quarter, year).

This page shows the balance sheet with accounts. The accounts are shown according to the chart of accounts, which is also available on the website. This balance sheet has been prepared to facilitate understanding of the relationship between the accounting accounts and the balance sheet figures. In contrast to the regulated form in which enterprises prepare reports, a column has been added to the balance sheet indicating the accounting accounts, the balances of which can be reflected in one or another line of the balance sheet. To make it easier to understand, added to some balance lines decoding "including". So, for example, as can be seen below, the concept of “inventories” includes raw materials, work in progress, goods, etc. In the approved balance sheet form, this is one line and filling it out for beginners causes great difficulties. If for a task it is necessary to fill out a balance sheet according to the approved form, then the “including” decoding lines must be summed up and the result included in the final line.