The accounting (financial) statements of enterprises are a set of accounting data expressed in a system of certain indicators. It is used in assessing the property status of liabilities, business transactions and results of economic activity of the company. Let us consider further what constitutes the reporting of the enterprise.
Instructions for the preparation and reporting forms of the enterprise are approved by the Ministry of Finance and the State Statistics Committee of the Russian Federation. Unified indicators allow you to structure information by economic regions, industries, regions and the entire national economic sector as a whole. The bodies that regulate accounting, within their competence, approve the Methodological Guidelines for compiling documentation for banking, insurance and other companies in accordance with regulations Ministry of Finance.
Organizations are now required to provide annual and interim reporting. The latter includes:
In addition to them, other documentation (on the transfer of funds, etc.), an explanatory note can be submitted. The company's annual financial statements include:
It can provide an assessment of the company's performance. The criteria are:
It is advisable to include in the note information on the dynamics of the most important economic results of the enterprise for several years, a description of upcoming investments, ongoing activities and other information that may be of interest to users who are provided with the financial statements of the enterprise. 
Reporting of small enterprises that do not use the simplified taxation system and are not required to comply audit, may not include information about changes in capital and movement of monetary assets, an appendix to the balance sheet and an explanatory note. If the said companies are charged with the need to carry out control measures, they also may not provide f. No. 3, 4.5 in the absence of relevant information.
Non-profit companies have the right not to include information on the movement of funds (form 4) in the company's statements, as well as in the absence of information and an appendix to the balance sheet (form No. 5). Associations (public organizations) that do not carry out entrepreneurial activity and do not have turnovers for the sale of works, services, goods, with the exception of retired property, do not draw up interim documentation. These organizations do not provide annual report information on the movement of monetary assets and changes in capital, an explanatory note and annexes.
The financial statements of an enterprise include a comparison of the amount of total income from the sale of services, goods or works or other items and receipts with an indicator of all costs that the company has incurred to maintain its activities since the beginning of the year. The result of this ratio will be the balance (gross) profit or loss for the specified period. 
The results of the assessment of the company's business operations for investors and other stakeholders are of great importance. This documentation is more important than even the firm's balance sheet. This value is due to the fact that the analysis of the reporting of the enterprise contains not one-time, but dynamic information about the successes that have been achieved over a certain period, due to what factors this happened, what is the scale of its activities. The documentation gives an idea of the development trends of an economic entity, its capabilities not only in the past and present, but also in future periods.
In the indicator for the cost of sales of products, provision of services / performance of work, there is information on the amount of production costs without the value reflected in management costs. The article on proceeds from sales less VAT, excises and other similar obligations shall reflect data on proceeds received from sales minus the said payments. The reporting of the enterprise contains information on commercial expenses. This article indicates the costs that are fixed in the account. 43 and refer to products/services/works sold. AT management expenses includes the amounts recorded on the account. 46 ("General business costs") in the prescribed manner. This article also reflects the values debited from this account when determining the financial results directly on Db sch. 46. 
Interest receivable and payable measures contain amounts owed to the company in the form of dividends/funds payable on deposits, bonds, and so on. When investing in securities For other firms, profits earned on shares are shown in income from participation in other companies. The reporting of the enterprise reflects information on other operating income and expenses. They include data on the results of events that were not reflected in previous articles f. No. 2.
In "Other non-operating income" information is recorded on accounts payable and depositor's debts with an expired limitation period. This item also includes amounts received to pay off receivables written off in previous periods as a loss (as uncollectible). Other non-operating income also includes penalties recognized or awarded to the debtor, fines, forfeits and other sanctions for violation of the terms of contracts. The article on income tax fixes the corresponding amount reflected in accounting, accrued in accordance with the provisions of the law and to be sent to the budget. 
This report includes two sections. The first - "Equity" - contains information about:
Each indicator has 4 columns:
A downward change in the authorized capital is allowed when participants withdraw their deposits, cancel shares owned directly by the JSC, reduce the nominal value of securities when bringing its value to the size net assets. The second section includes information about the presence and movement of consumer funds, reserves for future costs and payments, as well as estimated reserves.
This report must be submitted in rubles. If there is a movement of foreign currency, a calculation is made for each type, after which it is converted into national money at the Central Bank rate on the date of filling out the documentation. The movement of funds is compiled in the context of investment, current and financial activities companies. 
The section on the movement of borrowed funds contains the presence and movement of assets taken as bank or other loans. Overdue and deferred liabilities are recorded in the lines "not repaid on time". The section on accounts payable and receivable indicates the status and movement of the relevant funds, which are recorded in the settlement accounts. They also include obligations backed by bills of exchange and advances. The section on depreciable property contains a breakdown of intangible assets that wear out quickly and low value items, fixed assets that belong to the company.
Indicators of the movement of financing, investments and long-term investments reflect the availability of attracted and own resources, their use for capital and other purposes. The section on costs incurred by the company contains information about the costs of their elements, which are accounted for in accordance with the requirements. The breakdown of individual losses and profits reflects the funds received during the reporting and previous periods and included in the relevant items.
Every company must keep records of its activities. Depending on the size of the company, and consequently, the turnover of the chosen form of taxation, the company submits reports in a certain amount to the relevant state authorities. The main task of the chief accountant in this case is to prepare and submit forms financial reporting, which will contain information about economic condition enterprises at the end of a certain period.
It should be noted that each reporting has a code tax return. It is important that the data presented in the reporting forms directly correspond to the information in primary documents. Based on this information, the state of the company and its possibilities for further work are determined.
Forms of financial statements of the enterprise, according to the classification code 0710099, include several reports that represent the financial position of the company in different ways. Thus, the following reports are filled out:
The accounting financial statements under consideration (KND form 0710099) are approved by a special order of the Ministry of Finance. It must be submitted within a certain period of time to the tax authority.
It should be noted that for the tax authority, these data are submitted once a year based on the results of activities for the previous period. The deadline for submission is three months after the end of the previous calendar year.
Reporting methods vary. With the development of communication channels, the preferred method of submission is the electronic version. At the same time, other methods are still supported - by sending by the postal service or directly by personal submission of reports with the arrival of the tax authority.
Reporting on financial indicators can be formed during the year. In this case, it is not submitted to the tax authority, but is sent to the authorized person who made a request for it. Most often, these are the founders or shareholders of the company.
For greater clarity and better perception of information about the data for each form of financial statements, tables have been developed. Since most companies keep records in specialized programs, these forms are filled out in in electronic format almost automatically. That is, if all the primary data for any area of the company's activities are entered into the accounting program, then it will be enough for the person responsible for compiling and submitting reports only to form the necessary form and check the correctness of the data.
For those companies that keep records without a program, tax authorities provide their own specialized program that allows you to enter all the necessary data into it and submit them to the tax office.
The main task of the enterprise is to provide information on financial indicators companies. For the tax authority, these data are needed to determine the efficiency of the enterprise, including as a taxpayer.
Others government agency, where the information is also sent, is the body of statistics. In this case, the data obtained form a picture of the economic activity of the enterprise, the dynamics and development opportunities. By collecting such information from enterprises in one industry, one can get an idea of the processes operating in this area, for example, stagnation or growth.
These forms of analysis of financial statements are in demand not only by tax authorities. The information provided in these forms will be of particular interest to the company's shareholders. From each form of financial reporting, you can get data on how the company worked in the previous period, what risks exist in the company's work, what should be changed in certain company processes. For example, a report on the use of funds will show the structure of expenses. If non-manufacturing costs exceed the direct costs of production, then such a distribution of costs will be dangerous for the efficient operation of the company.
Interested parties in obtaining information from reporting, for example, from such a form of financial reporting as a balance sheet, will be creditors and banks. Other reports on the financial results of the company are no less interesting for this type of organization.
In the case when a company makes a request for credit, it must provide information about its performance. And these are not just documents signed by the company's executives, but accounting financial statements, the form of which is certified by the tax authority. With this, creditors and banks insure the transaction, since a document certified by another inspection body should no longer contain incorrect data.
As a result of the implementation of its activities, any company should see its results. In addition, there is an obligation for companies to submit information on financial results to the relevant authorities and disclose it to interested parties. For a more structured form of providing information, special forms of financial reporting have been developed, through which you can analyze various blocks of financial indicators.
Financial statements- this is a clear system of calculated indicators that demonstrate the actual state of affairs at the enterprise and reflect the results. It is necessary for analyzing and objectively assessing the performance of the company.
Credentials serve as the basis for its compilation. What is accounting, types and requirements for its preparation - the topic of this article.
The form has two parts to fill out. The first contains information about the available capital in the last reporting period, the second part is devoted to information for the period under consideration. The information in this report deciphers the balance sheet indicators concentrated in the third section.
The types of financial statements are supplemented by a specific form showing the dynamics of the movement of the company's most liquid assets - cash. Data on actual receipts and outflows financial resources are submitted in comparison with the data of the previous period, which involves an analysis of the dynamics of the movement of the asset. The information presented in the report is based on the data of the second section of the balance sheet, which contains information about the company's working capital.
The information presented in reporting forms is the most important source of obtaining information about the state of affairs in the company. Therefore, the financial statements, the types of which are described in this article, provide for a number of requirements. These include reliability, integrity, relevance. In order to ensure them at the end fiscal year the enterprise conducts an inventory of all accounting accounts - property, production assets and inventories, cash, liabilities and liabilities.
In addition, the submission of financial statements must be carried out within a certain time frame; all necessary information and details, stamps are affixed. Accounting statements, their types required for a separate company, are approved by the appropriate signatures.
Every company that actively commercial activity, regardless of the taxation system, at the end of the year must draw up and transfer to tax officials a special document called the “Financial Report”, formerly known as the “Profit and Loss Statement” (form 2).
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The report records the movement of funds in the enterprise in reporting period. This includes income, expenses, losses and profits of the organization which are calculated on an accrual basis from the beginning to the end of the year.
Drawing up a report is within the competence of an employee of the accounting department or chief accountant. In small companies, this may be a third-party specialist working on an outsourcing basis.
After registration, the document must be submitted for signature to the head of the company.
Compiled and properly executed statement of financial results must be submitted into a territorial tax service along with other documents included in the financial statements.
Like any other accounting documents submitted to the tax authorities, this one also has strict deadlines for submission. In this case, the period is three months from the end of the reporting year (that is, the report must be submitted until the end of March). If this rule is violated, the company faces administrative liability in the form of a fine.
The income statement has two unified forms:
Regardless of which form the company uses, the report contains the following mandatory data:
The filling out of the document should be treated very carefully, since errors, and even more so the introduction of unreliable or knowingly false information into it, is fraught with unpleasant consequences.
If any inaccuracies or corrections were made in the process of filling out the document, it is best to print a new form and issue it again.
All information in the form can be entered both in handwritten form and in printed form. The main condition is that it contains the original signature of the head of the enterprise or an employee authorized to act on his behalf.
Starting from 2016, it is not necessary to put a seal on the report, since legal entities are legally exempted from the need to approve their documents using seals and stamps.
The statement of financial results is drawn up in duplicate:
After losing relevance this document is transferred for storage to the archive of the enterprise, where it is kept for the entire period established for such papers.
Today, the document can be submitted to the tax service in three main ways.
At the beginning of the form, the date on which the document is filled out is entered. Further on the lines on the left side are entered:
The table on the right includes:
In line code 2110 include income from standard activities, such as:
Data is entered without excises and VAT;
Code 2120 includes expenses for the same standard activities. Indicators here must be entered in parentheses, which will indicate that they are subject to subtraction;
Code 2100 fixes the gross profit equal to the following formula: the value of line 2110 minus the value of line 2120;
Code 2210 here, also in parentheses, the costs incurred in the sale and sale of goods and services are indicated;
Code 2220 takes into account management costs (also in parentheses);
Code 2200: the value calculated by the formula is put here: data 2210 is subtracted from data 2100, then line 2220 is minus, i.e. profit or loss arising from sales;
Code 2310 shows the income of the organization from the authorized shares of other companies;
Code 2320 shows interest received in the form of profit on shares, bonds, deposits, etc.;
Code 2330 shows the interest payable (the value is entered in parentheses);
Code 2340 contains all other income not included in the higher lines (for example, proceeds from the sale of intangible assets, fixed assets, materials, etc.);
Code 2350 in parentheses contains all other expenses (fines, penalties, etc.);
Code 2300 indicates profit before income tax is calculated and deducted. The calculation formula is simple: line 2200 plus 2310 plus 2320 minus 2330 plus 2340 minus 2350;
Code 2410: Here you can see the calculated income tax. If an enterprise uses a “simplification” in its activities, nothing needs to be written here;
Code 2460 includes fines, tax surcharges, penalties, etc.;
Code 2400: contains net profit per year, calculated from the values in the previous rows.
The second part of the document contains background information, which is also divided into separate paragraphs.
Code 2510 includes data on the results of asset revaluation not included in net income;
Code 2520 fixes the result from other operations not included in net profit;
Code 2500 registers the final financial result: i.e. 2510 is subtracted from 2400 and 2520 is added;
Code 2900 shows basic profit or loss per share (i.e. basic profit (loss) divided by the number of shares);
Code 2910 gives information about diluted earnings or losses per share. Calculation formula: (net income minus dividends on preferred shares) divided by the number of ordinary shares.
After all the necessary information has been entered into the document, it must be sign with the head of the company and again date.
Logic of financial management of companies
1. Based financial accounting preparing financial statements
2. The financial analysis
3. Assessment of the state, results and efficiency of the company's activities ⟹ decisions are made on financial management enterprise
Financial Accounting(financial accounting) is a record of the availability and movement of funds, financial resources, integral part which is accounting.
In turn, accounting covers a broader aspect of data.
Financial accounting also has some specifics compared to the broader concept of management accounting.
Unlike management accounting, financial accounting:
On the basis of financial accounting, financial statements are prepared, which are based on a generalization of financial accounting data and are an information link that connects an enterprise with society and business partners - users of information about its activities.
Company financial statement(financial account of a company) is mandatory form financial reporting, provided by the legislation of most countries of the world.
Financial accounting contains the following documents:
The financial report is submitted for consideration by the meeting of shareholders and at the request of the state financial authorities. Financial reporting is the information basis financial analysis, and financial - economic analysis - the basis for making managerial decisions.
There are principles of construction and international standardization of the financial statements of an enterprise in the world (the method of preparing financial statements GAAP - General Accepted Accounting Principles), features of modern accounting policy firm and its financial reporting structures. Bringing the forms of financial accounting and reporting to greater compliance with the requirements international standards necessitates the use of a unified method of financial analysis that meets the conditions market economy.
This technique is necessary to solve the following problems:
In accordance with Russian legislation as part of the annual financial report of the enterprise, the following forms are presented:
· "Balance sheet";
· "Report about incomes and material losses";
· «Statement on the movement of capital»;
· “Cash flow statement”;
· “Appendix to the balance sheet”.
· « Explanatory note» with a statement of the main factors that influenced the final results of the enterprise, with an assessment of its financial condition;
The final part auditor's report, confirming the degree of reliability of the information provided.
Western companies provide three digital forms (balance sheet, income statement, cash flow statement) and a company summary report.
Company Summary Report(director's report of company) - verbal (descriptive) part of the financial statements in a free presentation. Verbal explanations are intended to explain why certain financial actions led to the results.
Users of financial statements:
MAIN FORMS OF THE COMPANY'S FINANCIAL STATEMENTS
The main form of financial reporting of the enterprise is the balance sheet.
balance sheet- the main form of financial statements of the enterprise, which reflects the financial position of the company for a specific reporting period of time, on a certain date and reflects the resources of the enterprise in a single monetary value according to their composition and directions of use.
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The main balance equation shows the equality of its left side, represented by assets, and the right side, which is the sum of liabilities and equity of the company:
where A (assets) - assets;
L (liabilities) - obligations;
E (equity) - equity.
Assets(assets) reflect the composition and placement of economic assets (current and non-current) of the enterprise.
Assets are represented by articles:
Together these groups make up current assets. current assets or working capital of the company .
Fixed assets include:
Fixed assets are reflected in the company's balance sheet at the purchase price. Intangible assets may be reflected in the balance sheet taking into account depreciation.
Depreciation- the process of gradual transfer of the value of fixed capital to the produced product; annual write-off of a part of the value of the fixed capital object.
Depreciation rates for linear depreciation
where Nam is the depreciation rate;
Vf is the cost of fixed assets;
k is the service life of fixed assets.
The most widely used methods of linear depreciation, accelerated depreciation, degressive depreciation. The use of one or another method depends on the specific goals of the company.
Depreciation is linear i - a method of writing off depreciation, in which it is carried out in proportion to the life of the equipment.
Accelerated depreciation- a method of writing off depreciation deductions, in which in the first years higher percentage equipment costs, then smaller in subsequent years. This method stimulates a more rapid renewal of fixed capital and, in addition, allows you to overestimate the costs in the first years of production and pay less tax on profits.
Depreciation degressive– delayed decommissioning of equipment when it is taken to the base residual value. The danger of the degressive depreciation method lies in the fact that, due to the acceleration of the pace of scientific and technological progress, the equipment may become obsolete faster than the depreciation fund is accumulated, sufficient to upgrade, replace obsolete production capacity. This method allows you to reduce current costs and increase today's profit.
The sum of current (current) and non-current assets, including primarily fixed assets, taking into account depreciation, is the assets of the company's balance sheet and is reflected in its left side.
On the right side of the balance sheet, there are 2 types of sources of funds - attracted (borrowed) funds - liabilities and equity (own) capital. In Russian practice, the right side of the balance sheet of an enterprise is called liabilities.
Liabilities- the total of debts, liabilities and equity of the company, the right side balance sheet, denoting the sources of formation of the enterprise's funds, its financing.
Commitments
· Short term accounts payable
o Debt to individuals and legal entities
o Deferred taxes and provisions
· Accounts payable - funds temporarily attracted by the enterprise, subject to return to persons from whom they are borrowed and to whom they have not yet been paid.
o Unsettled payments to suppliers for shipped goods
o Unpaid, deferred taxes
o Unpaid accrued wage
o Uncontributed insurance premiums, unpaid debts
o Debts to banks
o Bills payable
o Accrued (but unpaid) interest or dividends
· Long term debt
o Bonds secured by the first mortgage
o Unsecured bond loan
Bond- IOU issued by the borrower to the lender; a security that gives its holder the right to receive periodic or one-time payments and principal at the end of the bond's maturity.
Mortgage – legal document, testifying to the pledge by the debtor of his real estate in the form of land, houses, buildings. Issued to the creditor and is with him until the final settlement with the debtor.
Equity:
· Preference shares
· Ordinary shares
share premium
Equity Equity Formula:
A (assets) - assets
L (liabilities) - obligations
E (equity) - equity
Holders of ordinary shares have the right to take part in the management of the enterprise, while holders of preferred shares are deprived of such an opportunity. Therefore, often financial managers consider preferred capital as borrowed funds.
Stock- a security issued by a joint-stock company without a fixed maturity date, which certifies that its owner has contributed a share in the company's share capital and allows him to receive income from the company's profit, called a dividend.
Shareholders are entitled to:
1. Receiving dividends
2. Participation in the management of the corporation by voting at the meeting of shareholders
3. Receipt of a part of property after liquidation
Preferred share A share whose dividend is a predetermined amount and is paid first in the event of liquidation. Owners do not have voting rights general meeting shareholders.
Share simple (ordinary)- a share that allows its owner to receive a dividend depending on the results of activity joint stock company and vote at the general meeting of shareholders.
Controlling stake- the number of shares that allows you to manage a joint-stock company.
Affiliates- persons who, as a result of the acquisition of a certain block of shares, or by virtue of their official position, can control the activities of a joint-stock company.
Share premium– paid-in part of the share capital – the income of a joint-stock company, which is formed due to the difference between the price of the initial offering of shares and their nominal value.
Share premium formula:
Cad = (Pm – Pn) Qad
Pm (market price) – market price of a share
Pn (nomimal price) – share par value
Qad (additional quantity of common stocks)
Retained (accumulated) profit- the profit of a joint-stock company remaining after paying taxes and paying dividends, used for the purpose of reinvesting in the development of the enterprise (does not represent cash and cannot be used as a source of funds in a bank).
Ordinary capital formula:
Ec = Cc + Cad + Ir
We reflect the structure of equity capital using the formula:
E = Cpr + Cc + Cad + Ir
E (equity) - capital
Cpr (preferred stocks) - capital formed by issuing preferred shares
Cc (common stocks) – capital formed by issuing ordinary shares
Cad (additional paid - in capital) - share premium
Ir (retained earnings)
It should be noted that, according to Western financial reporting methods, balance sheet assets are presented in descending order of their liquidity, i.e. according to the period of time that usually takes to convert them into cash (the first line is cash on hand and on the company's current account and marketable securities as the most liquid part of assets); liabilities are listed in the order in which they are payable, i.e. accounts payable are written first, due to be repaid within 30, 60, or 90 days, then short- and medium-term debt securities, and so on to the equity holders' accounts, which are the property of shareholders and never require redemption.
In Russia, the asset balance is built in order of increasing liquidity of funds. Liabilities combine both equity and liabilities of the enterprise. Liability items are grouped according to legal criteria. First of all, circumstances are written out to the owners, then obligations to third parties (creditors, banks) are presented in order of increasing degree of urgency of their return.
