How to fill the balance?

The balance sheet is a synthesis and grouping of assets and liabilities of the economy for the reporting period in monetary terms. The main objective of the balance sheet is to show in which financial position at this stage the company is located, what capital, material assets it owns at the reporting date.

Balance sheet

The balance sheet is drawn up in the form of a table consisting of the left part (asset) and right (liabilities). Assets represent the resources of an enterprise and include two sections: negotiable (short-term use) and non-current (long-term use) assets. Liabilities are sources that are used to form the resources of enterprises and are divided into: capital and reserves, long-term and short-term liabilities. Also, enterprises may temporarily have various material values ​​that do not belong to him. These material values ​​are accounted for the balance.

The main property of the balance is an asset equal to liability. This is explained by the use of double entry in the preparation of the balance sheet.The balance reflects the state of economic assets and liabilities, but does not carry any information about their movement. Therefore, when drawing up a balance, accounting accounts are used to group the current accounting data for funds, business processes and results.

Balance is made on the first day of the month, quarter or year. For all enterprises, a single form is provided, which is used to draw up a balance sheet. This makes it possible to compile consolidated balance sheets for various branches of the enterprise and for industry as a whole. Before you fill out the balance sheet, you must specify the details.

Details, which must contain a balance sheet:

  • date;
  • the name of the organization by the constituent documents;
  • TIN;
  • type of activity of the organization;
  • unit of measure;
  • address of the enterprise.

Monetary values ​​of balance sheet items are written in thousands or millions without decimal places.

How to fill the balance: features

The main features that are taken into account when drawing up the balance sheet:

  • Fixed assets and intangible assets are recorded in the asset balance at their residual value (initial value minus depreciation amount);
  • funds in the calculations (calculations with debtors and creditors) are shown in the balance sheet in expanded form;
  • All balance sheet items must be fully supported by the data obtained from the inventory.

Before you fill the balance sheet, you need to consider that the company performs a lot of business operations every day, each of which leads to changes in the composition of the property or liabilities, or both. These changes can be divided into four types:

  • changes that occur only in the asset balance (for one item changes go upwards, on the other downwards, while the total does not change, for example, when money from the current account goes to the cashier);
  • changes in the liabilities side of the balance sheet (for one item changes go upwards, for the other downwards, while the total does not change, for example, when a debt is paid off to suppliers at the expense of a bank loan);
  • changes in the asset and liability balance upward (for example, the flow of materials from the supplier);
  • changes occurring in the asset and liabilities side of the balance in the direction of reduction (for example, wages paid to workers from the cash register).

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