Composition of financial statements since 2013

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The release of the new Accounting Law in December 2011, long before it comes into force, is an amazing case for Russian practice. Usually we get all the amendments, as they say, "under the Christmas tree" and look through them in a hurry. And here such a concern - more than a year to study the norms of the new accounting constitution.

Moreover, accountants found themselves in a strange situation: they need to prepare reports for the last year, 2012, when Law 402-FZ was not yet in force, now, in 2013, when it is already being applied with might and main. How does this affect the formation and composition of financial statements? And what should small businesses do?

Now consider the composition of the annual financial statements for an ordinary commercial organization. Includes:

• balance sheet;

• income statement;

• supplements thereto: statement of changes in equity, statement of cash flows and explanations.

True, since 2013, form No. 2 in Law No. 402-FZ is called the income statement. ByIn fact, the form from Order No. 66n is already such a report, since it contains data on income, expenses, profit and the total financial result.

However, despite the fact that this report contains everything you need to know about financial results, the Ministry of Finance insists for some reason: this form of report must be included in the composition and content of financial statements-2012 precisely as a report on financial results (OFR for short). If Order No. 66n is not updated, or the developers of accounting programs do not change the name of the form, it is advisable to do it yourself. If this is not possible, you will have to submit a report with the same name. It is hard to imagine that someone raised a hand to punish for this. And for what article?

Traditionally, small businesses worry every year: do they need to submit annexes to their accounts? Directly Order No. 66n does not exempt them from this. At the same time, Accounting Regulation No. 34n continues to operate, where there is an indulgence. It turns out directly Hamletian: “To surrender or not to surrender - that is the question.”

But instead of finding out which of these regulations is more important, it is better to reconcile them with each other. Yes, in the 66th Order there is no permission not to hand over applications, but there are words that they reflect only the most important information about the financial condition of the company. Conclusion: if you have a regular turnover, there is most likely nothing to enter into applications. Yes, and check the correctness of your professional assessment, according to which you decided to refuse applications,strictly speaking, nobody. It may be noted that small businesses have the right not to include applications in the financial statements.

Pleased with another significant relief for small businesses. The simplification of the forms included in the financial statements has greatly facilitated the life of entrepreneurs and accountants. In principle, this was declared a long time ago, and small businesses could develop "lightweight" forms themselves. But some organizations did not see much sense in this, they were satisfied with generally accepted patterns. Those who were not averse to "facilitating" forms, simply did not grow up to such freedom, independent work frightened them.

Let's say, in the "classic" balance sheet, the article "Capital and reserves" includes a number of indicators that must be reflected separately. Here is the authorized capital, and additional, and retained earnings. There are no transcripts in the "small" balance: fill in the line "Capital and reserves", and that's it.

The Ministry of Finance also significantly cut the usual report on financial results. Interest receivable went under the knife - they should be reflected only as part of the “Other income” line. But the officials left the interest payable as a separate line. It is clear why: even a small company needs to see how much it costs to borrow money.

This “sequestration” for small businesses that needed it could have been done on their own before, but since samples have appeared, it’s a sin not to use them.

However, it is not in vain that it is repeated all the time: a firm can usesimplified forms included in the financial statements, if needed. And this need is not at all obvious, since from the point of view of accountants of small enterprises, who have been filling out regular reporting all their lives, the transition to the “lightweight” version is unnecessary trouble. Approve the forms as an appendix to the accounting policy, add the lines of "classic" reporting to get the results for the aggregate lines of simplified forms.