Accounting statements: types and composition. The concept of financial statements

Accounting reporting is a clear system of calculated indicators demonstrating the actual state of affairs in the enterprise and reflecting the results of production and financial activity. It is necessary for the analysis and objective evaluation of the effectiveness of the company. The basis for its compilation is the accounting data. What is the accounting reporting, types and requirements for its compilation - the subject of this article.

Performed functions

Functionality of financial statements is distributed in two directions: timely provision of reliable information and control over the situation in the company.

Informationality presupposes in the reporting the availability of information about the actual state of affairs and the results of the company's activities in general and in all sectors and industries.

The monitoring function is to ensure quality monitoring of the provision of truly reliable information. Such internal financial supervision is carried out for each accounting cycle, that is, each accounting period ends with the preparation of a financial report that is the logical completion of the period and documentary confirmation of the results of the company's work.

Concept and types of financial statements

So, the reporting of the enterprise is the final stage of accounting work and a summary of information about the property and financial condition of the company. Reporting information is used by external users who evaluate the company's performance (for example, in the industry), as well as for conducting analytical work within the organization. In addition, the head of the company relies on financial reporting data for the implementation of operational management, and for economic services - this is the starting point in the planning and subsequent development of production. Reporting is formed on the basis of the principles of reliability and timeliness of accounting operations, as well as comparability of the final indicators of the report with similar historical data.

The current legislation has approved standard reporting forms. The financial statements are grouped according to the types, periodicity of the provision, and the level of generalization of accounting information.

What are the reports

According to the regularity of registration, reporting can be annual or intermediate. In accordance with the name, intermediate reports are drawn up for different time intervals, for example, for a month, a quarter, half a year. The annual is formed by the end of the year.

The degree of generalization of data also varies. There are reports of primary, drawn up by subsidiaries, and consolidated, which are consolidated, that is, combining the data of all structural divisions of the company.

Forms and types of financial statements

Today, there are several types of reporting and many complementary applications. Based on the duration of the period for which it is formed, any of its types can be considered as annual or intermediate.

The accounting statements, the types of which are considered in this review, are presented by the balance sheet and reports to it:

• on profits and losses;

• changes in capital;

• cash flow.

The above forms constitute a mandatory package of intra-annual quarterly reports. Annual is supplemented by the following reports:

• application to the balance sheet (form no. 5):

• an explanatory note that provides detailed information on the transactions carried out;

• the conclusion of the auditor, compiled based on the results of the verification of the reporting data.

The specifics of the company contribute to the addition of this package to other reports. For example, public organizations report annually on the target direction of funds, forming the appropriate form, and for various industry companies, departmental reports have been approved and agreed with the RF Ministry of Finance.

The current legislation has approved special standard reporting forms and recommendations for their completion. Each of the listed reports reveals its specific information. Let's talk about each of them.

Balance sheet

The balance, being the main form, precedes the types and composition of the accounting statements of any enterprise. It is a table in the first two sections of which all assets of the company (property and working capital) are listed in value terms, in the third, fourth and fifth - the sources of education of these assets, ie, funds, capital, reserves and loans. The construction of a balance table is based on the equality of the sum of assets to the amount of financial costs. It indicates only the balances of indicators at the beginning of the reporting period and its end. Dynamics of growth, changes or movement of a given indicator throughout the analyzed period in the balance sheet can be seen only in the general absolute figures that fix the growth or decrease in value. The most detailed information is provided by the reports attached to the balance sheet.

Profits and Losses Report

Among the reports supplementing the basic form, this form dominates, positioning the types of accounting statements of the organization. It contains information on the income received and the costs incurred, reflecting the dynamics of the production process. The financial result is calculated by calculation , calculated from the beginning of the year by the cumulative total. This form gives an opportunity to objectively evaluate the company's activities for the billing period.

This report, along with the form of balance, is mandatory for enterprises of all forms of ownership, including small business.

Statement of changes in equity

Not compulsory for small organizations, this report is included in the main set of financial forms and complements the types of financial statements of the enterprise. It summarizes information showing changes in the company's charter and other capital - reserve, additional, as well as the amount of retained earnings.

The form provides for the completion of two parts. Firstly, information about the available capital in the previous reporting period, the second part is devoted to information for the period under review. The information in this report deciphers the balance indicators, concentrated in the third section.

Statement of cash flows

Kinds of the accounting reporting are supplemented with the specific form showing dynamics of movement of the most liquid actives of the company - money resources. The data on actual receipts and outflow of financial assets are given in comparison with the data of the previous period, which assumes 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, where the information on the company's working capital is concentrated.

Requirements for the preparation of financial statements

The information provided in the reporting forms is the most important source of information on the state of affairs in the company. Therefore, accounting statements, the types of which are described in this article, provide for a number of requirements. These include reliability, integrity, relevance. To ensure their security at the end of the financial year, the enterprise conducts inventory of all accounting accounts - property, production assets and reserves, cash, liabilities and debts.

In addition, the delivery of financial statements should be carried out at certain times, in the sheets of reports all the necessary information and requisites are filled in, stamps are printed. Accounting statements, its types, necessary for an individual company, are approved by the respective signatures.