Drawing up explanations to the balance sheet annually raises questions from accountants. To correctly compile explanations for the balance sheet, you need to know a few rules.
Who prepares explanations for the balance sheet
As a rule, everyone is interested in whether small enterprises make up an explanation of the balance sheet. Small enterprises have the right not to draw up explanations if their financial statements are not subject to mandatory audit (Article 5 of the Law of December 30, 2008 No. 307-FZ).
The rest of the organizations should draw up explanations for the balance sheet.
What is an explanation of the balance sheet
This is detailed information about some of the assets and liabilities of an organization as reflected in its balance sheet, as well as income and expenses recorded in the Statement of Financial Performance. The accountant discloses in the explanations the information that he considers important for users, which, in his opinion, is necessary for users to assess the financial position of the organization (clause 6 PBU 4/99). For example, you can describe in the notes to the balance sheet the fixed assets available to the organization:
- data on the initial cost and accrued depreciation at the beginning and end of the period;
- data on the cost of received and retired fixed assets;
- data on the depreciation method in accounting.
Forms of explanations to the balance sheet
Since there is no mandatory form of explanations, you can:
- use the forms proposed by the Ministry of Finance (Appendix No. 3 to the Order of the Ministry of Finance dated 02.07.2010 No. 66n);
- develop your forms.
Explanation of the balance sheet: a form in the form recommended by the Ministry of Finance - download
Explanations to the balance: the order of filling
The organization itself decides whether it will make explanations in tabular form or just text. Section headings, numbering, etc. - all this is not regulated in any way.
Balance Explanations: Examples
As we have already said, the content of the explanations to the balance sheet is at the mercy of the accountant. He himself decides what information he will disclose in the explanations. In practice, in the notes to the balance sheet, they report:
- fixed assets;
- receivables and payables;
- production costs.
Notes to the balance sheet for 2017
There were no changes in the procedure for completing notes to the balance sheet at the end of 2017. You can make explanations on the same forms and the same criteria as last year.
Explanation of the balance: sample
Here is a sample explanation in tabular form in a situation where an accountant wants to disclose information about the organization's fixed assets:
Notes to the balance sheetRomashka LLC for 20171. Fixed assets
1.1. Depreciation on all fixed assets is charged on a straight-line basis. There is no revaluation of fixed assets.
1.2. Data on the availability and movement of fixed assets for 2017 (in rubles)
Budgetary and autonomous institutions submit, as part of their annual and quarterly financial statements, an Explanatory Note to the Balance of the institution f. 0503760. Let's talk about the composition of the forms, the procedure and deadlines for filling out the Explanatory Note f. 0503760. From the reporting for 2018, several forms of information explanatory note updated.
Submit an explanatory note (f. 0503760) as part of the annual and quarterly reports. Form 0503760 consists of a text part, five tables and twelve reporting forms (applications), which are grouped into sections.
Download form 0503760 in word, and below you will find an example of filling out an Explanatory Note.
In quarterly reporting in 2018, submit forms: 0503760, 0503779, 0503295, 0503769 (except for the 1st quarter), 0503793 (if established by regional and local authorities).
Form 0503760 Explanatory note to the balance sheet of the institution: an example of filling out
To pass the Explanatory Note to the Institutional Balance without errors, see an example of form 0503760. Download a sample of filling out an Explanatory Note f 0503760. Inside you will find the text part, all tables and main applications.
The procedure for filling out an explanatory note f. 0503760
Note! Since the reporting for 2018, some forms have changed as part of the explanatory note. Use the reporting guide for 2018 with updated forms in the State Finance System
For detailed instructions on filling out the new Explanatory Note form, see the cheat sheet. Next, we will consider the composition of the form.
The composition of the explanatory note of budgetary and autonomous institutions is determined by paragraph 56 of Instruction No. 33n. In general, the explanatory note to the Balance of the institution f. 0503760 is a collection of tables and applications, combined according to the relevant attribute into information blocks. Let's take a closer look at form 0503760: instructions for filling out.
Text part- this is the initial part of the Explanatory Note (f. 0503760). In it, reflect information about the institution that is not grouped by tables and reporting forms (applications):
- name of the institution, its legal and postal address;
- organizational and legal form;
- information about the founder;
- types of financial support for activities;
- numbers of personal and bank accounts that are opened with the financial institution or credit institutions;
- information about the owner of the property;
- who keeps accounting: institution or centralized accounting;
- information that the founder has established, and about events after the reporting date. Including describe the events that were not reflected in the accounting due to late documents. It is enough to indicate such an event in the text part 0503760 and give its monetary value;
- other essential information that is not included in the tables and annexes.
In section 1 "Organizational structure of the institution" include:
- information about the main activities (table No. 1);
- about the quantity separate subdivisions(f. 0503761);
- in the text part - information that was not included in the tables and applications. This is information that has influenced the results of operations and characterizes organizational structure institutions. For example: the presence of a supervisory board, a change in the composition of powers to approve plans, the number of separate divisions, etc.
In section 2 "The results of the activities of the institution":
- information on the results of the institution's activities in fulfilling the state (municipal) task (f. 0503762);
- in the text part - information that influenced the results of activities and characterizes the organizational structure of the institution. For example, about measures to improve the skills of specialists and resources: the full-time and actual number of employees, the total value of the property, the structure of the OCDI and real estate, the volume of purchases, etc.
In section 3 "Analysis of the report on the implementation of the institution's plan of its activities" include:
- information on the implementation of measures within the framework of subsidies for other purposes and for the purpose of making capital investments (f. 0503766);
- use of targeted foreign loans (f. 0503767);
- in the text part - information that influenced the results of the institution's activities and characterizes the implementation of the plan by the institution. For example, about accepted and monetary obligations, the fulfillment of which is provided for in the following years.
In section 4 "Analysis of the institution's reporting indicators":
- information on the movement of non-financial assets of the institution (f. 0503768);
- accounts receivable and accounts payable of the institution (f. 0503769);
- financial investments of the institution (f. 0503771);
- borrowing amounts (f. 0503772);
- change in the balance of the balance sheet currency (f. 0503773);
- accepted and unfulfilled obligations (f. 0503775);
- enforcement of court decisions on monetary obligations of the institution (f. 0503295);
- remnants Money institutions (f. 0503779);
- in the text part - information that was not included in the tables and applications. For example, indicate the reasons that influenced the amount of cash balances in the accounts, information about damages and theft in the institution.
In section 5 "Other issues of the institution" include:
- information about the features of accounting by the institution (table No. 4).
Download an example of filling out table 4 of the explanatory note form 0503760; - the results of internal state (municipal) financial control measures (table No. 5);
- carrying out inventories (table No. 6);
- the results of external state (municipal) financial control (table No. 7).
Download an example of filling out table 7 of the explanatory note f 0503760; - a list of forms that are not included in the financial statements due to the absence of numerical values indicators;
- in the text part - information that was not included in the tables and applications.
Above you can download a sample explanatory note to the balance sheet budget institution form 0503760.
Sample of filling out the form 0503760: the text part of the Explanatory Note
Form 0503760 Table 5: Filling example
When forming an explanatory note to the annual financial statements f. 0503760, it is necessary to fill in Table No. 5 “Information on the results of internal control measures”. In this table, reflect information on the results of internal control activities that were carried out in reporting period. At the same time, in column 1 of the table, indicate the type of control measure (preliminary, subsequent, current), and in column 4 - measures taken to eliminate violations.
Sample Table 5:
Information (f. 0503762)
Information on the results of the institution's activities in fulfilling the state (municipal) task (f. 0503762) contains information corresponding to the name in the context of planned and actual indicators.
In the form 0503762, fill in the data on the state (municipal) services that the institution performed as part of the state assignment: code, name, unit of measure, natural and cost performance indicators. If the state (municipal) task is not fulfilled or not completely fulfilled, indicate the reasons for this.
Information (f. 0503769)
In the Information (f. 0503769) indicate the generalized data on the status of settlements on receivables and payables for the reporting period. 0503769 make up separately for all types of financial security and separately for receivables and payables.
Information (f. 0503775)
In the Details (f. 0503775), indicate information about outstanding obligations, as well as about savings, grouping data into four sections: analytical information about
- unfulfilled obligations;
- unfulfilled monetary obligations;
- expenditure commitments made in excess of the approved FCD plan;
- savings when concluding contracts using competitive methods.
Information (f. 0503790)
From the reporting for 2017 introduced new form Information about objects of construction in progress, investments in real estate objects of a budgetary (autonomous) institution (f. 0503790). In the form, indicate in particular:
- in column 4 the code of the investment object;
- 5 - cadastral number of the real estate object;
- 6 - accounting number of the capital investment object as of the reporting date, assigned by the institution;
- 7 - accounting number of the object assigned by the previous balance holder
- 8 – object status code. For example, 02 the object is mothballed, 04 - the construction of the object did not start, etc.;
- column 12 indicates the reason why the construction was stopped or stopped;
- column 16 - the amount of the estimated cost of construction (reconstruction) as of the reporting date in accordance with the design and estimate documentation.
How to verify a form? The indicator of line 600 of column 17 must correspond to line 091 of column 6 of the Balance (f.0503730) minus the indicator of line 170 of column 4 of section 1 of the Information (f.0503768). And the indicator of line 600 of column 20 is equal to line 091 of column 10 of the Balance (f.0503730) minus line 170 of column 11 of section 1 of form 0503768.
An integral part of the financial statements is an explanatory note, which is attached to the annual. The text of the document provides basic information about the results of the organization's activities for the reporting period, characteristics of indicators and a description of their dynamics.
It is also necessary to justify the accounting policy of the enterprise, the effectiveness of its application, in connection with which, the note indicates:
- vault individual rules accounting for assets and liabilities assumed by the accounting policy;
- the reasons for its change and the results;
- comparative analysis the previous period with the reporting;
- the consequences of adjustments in accounting policies compared with the previous reporting period;
- the results of adjustments for previous periods.
The note contains information and brief description directions and types of activity - current, financial and investment. The document must indicate the main financial indicators that are of great importance and influence on the final result of the activity for the reporting period, as well as the amount of profit and its distribution.
When submitting annual reports, small-scale enterprises do not need to draw up explanatory notes to the general set of documents. In accordance with the law, such an obligation to the tax authorities is not provided for them. If an organization uses common system taxation (when revenue is determined from the volume of sales of goods or services), then in this case it is necessary to separately present the amount that is payable to the budget.
The characteristic of indicators should contain:
- data on fixed assets of the enterprise: their receipt, initial and residual value, period of use and disposal;
- data on intangible assets;
- information about investments and investments;
- information about the general technical level of products or services provided.
The dependence and dynamics of their indicators can be reflected in graphical form, tabular or supported by diagrams.
An important part of the explanatory note is the analytical studies of the actual performance indicators, a description of how exactly the property and financial situation of the enterprise has changed.
For short-term planning of activities, financiers reflect in the document the coefficients: current liquidity, solvency, and the ability to manage with their own funds. In long-term planning, investment flows, their volume, investment period, payback periods are evaluated and the time point is calculated when the invested funds begin to make a profit, and external investors are also evaluated.
Business activity is a serious indicator, since sales volumes and income directly depend on the company's reputation, customer base, availability of export supplies, the degree of use of own funds and the level of implementation of planned indicators.
The final part of the note describes the dynamics of the main indicators for several recent years, planned long-term and short-term investments, as well as other financial and economic measures aimed at improving performance.
Ekaterina Annenkova, an auditor certified by the Ministry of Finance of the Russian Federation, an expert in accounting and taxation at Clerk.Ru news agency. Photo by B. Maltsev IA Clerk.Ru
In accordance with the Order of the Ministry of Finance of the Russian Federation dated 06.07.1999 No. No. 43n “On approval of the Accounting Regulations”, the financial statements consist of:
- balance sheet,
- statement of financial results,
- applications for them
- explanatory note,
- as well as an auditor's report confirming the reliability of the organization's financial statements, if it is subject to mandatory audit in accordance with federal laws.
An explanatory note to the annual financial statements must contain significant information:
- about the organization
- her financial situation,
- comparability of data for the reporting and previous years,
- valuation methods and material items of financial statements.
Otherwise, non-application of accounting rules is considered as an evasion from their implementation and is recognized as a violation of the legislation of the Russian Federation on accounting.
In addition to material information, an organization may provide additional information accompanying financial statements, if it considers it useful for interested users in making economic decisions (clause 39 PBU 4/99).
It reveals:
- dynamics of the most important economic and financial indicators of the organization's activities over a number of years;
- planned development of the organization;
- prospective capital and long-term financial investments;
- borrowing policy, risk management;
- activities of the organization in the field of research and development work;
- environmental protection measures;
- other information.
Guided by the requirements of the current legislation, we will draw up an explanatory note to the annual financial statements of Romashka LLC for 2013.
EXPLANATORY NOTE
to the annual financial statements for 2013 LLC firm "ROMASHKA"
1. Basic information about the organization.
Limited Liability Company Firm "ROMASHKA", legal and actual address: 117417, Moscow, Ivanovskaya st., house number 77, building 7.
PSRN: 1077077077077.
TIN: 7770077700.
Gearbox: 770701001.
Registered in the Federal Tax Service of Russia No. 07 for Moscow on 07/07/2007. certificate 77 No. 007770077.
The financial statements of the Company are formed on the basis of the current Russian Federation accounting and reporting rules.
The number of employees at the end of the reporting period amounted to 177 people.
In 2013 there was an increase in the authorized capital:
- Due to retained earnings of previous years in accordance with Minutes No. 1 of 04/07/2013 in the amount of 3 000 000 rub.
- Due to the founder's contribution to authorized capital LLC in accordance with Protocol No. 2 dated 07/07/2013 in the amount 50 000 rub.
The main activities of the Company are the production and wholesale trade building materials.
Production and financial activities were carried out by the Company throughout the entire period of 2013 and were aimed at generating income in the reporting and subsequent periods.
Materiality level fixed by the Company in the accounting policy for accounting purposes is 15% from the relevant item in the financial statements.
2. Proceeds (income) from sales.
Revenue from the performance of work, the provision of services, the sale of products with a long production cycle is recognized when ready works, services, products ().
Sales revenue in 2013 amounted to 6 000 000 rub. (without VAT):
Revenues from sales for the previous reporting periods amounted to (without VAT):
- year 2012 - 5 000 000 rub.;
- 2011 - 4 500 000 rub.;
- 2010 - 3 000 000 rub.;
- year 2009 - 2 500 000 rub.
3. Costs associated with the implementation.
Administrative expenses accounted for in the debit of account 26 " General running costs”, at the end of the reporting period, are not distributed among the objects of calculation and are written off as conditionally constant directly to the debit of account 90 “Sales of products (works, services)” with distribution between product groups in proportion to the share of sales proceeds.
Recognized in the cost of sold products, goods, works, services in full reporting year their recognition as expenses for ordinary activities (clause 9 PBU 10/99 "Expenses of the organization").
The costs associated with the implementation in 2013 amounted to 5 160 000 rub. (without VAT):
For the purposes of tax accounting, the amount of expenses associated with the sale amounted to 4 840 000 rub.
The resulting difference in accounting for production and management expenses for the purposes of accounting and tax accounting was formed in connection with the application of PBU to determine expenses in accounting and provisions tax code- to account for expenses for tax purposes.
320 000 rub. made up of a temporary difference in the amount 170 000 rub. and permanent differences in the amount 150 000 rub. in the following way:
1.Time difference in size 170 000 rub. was formed due to differences in accounting for depreciation of fixed assets for tax and accounting purposes.
2.Permanent differences in size 150 000 rub. (100,000 + 50,000) consist of expenses not accepted for NU purposes, namely:
- 100 000 rub. fixed assets depreciation not accepted for NU purposes;
- 50 000 rub. health insurance costs in excess of the norm.
- year 2012 - 4 600 000 rub.;
- 2011 - 4 000 000 rub.;
- 2010 - 2 650 000 rub.;
- year 2009 - 2 100 000 rub.
4. Financial result obtained from the main activities
The financial result obtained from the main activities in 2013 amounted to 840 000 rub. ( 6 000 000 - 5 160 000 ).
For the purposes of tax accounting, the amount of profit from sales amounted to 1 160 000 rub. ( 6 000 000 - 4 840 000 ).
In addition, the main activity does not reflect the results of the sale of a large batch of finished products, due to the delay in the transfer of the batch of goods to the buyer LLC "LUTIK" and the signing of the consignment note TORG-12.
The sale of goods took place in the 1st quarter of 2014. All production work was completed in the 4th quarter of 2013.
Finished products are reflected on account 43 "Finished products" in the amount of actual costs for its manufacture - 450 000 rub.
The amount of proceeds from the sale of this batch of products own production is 750 000 rub.
The amount of profit received (before tax) on this project will be 300 000 rub.
5. Other income.
The amount of other income for accounting purposes in 2013 amounted to 1 170 000 rub.
For the purposes of tax accounting, the amount of non-operating income amounted to 1 100 000 rubles, the amount of income from the sale of fixed assets amounted to 20 000 rub. Total amount of income accepted for tax accounting purposes - 1 120 000 rub.
The resulting difference in the accounting of other income for the purposes of accounting and non-operating income for the purposes of tax accounting was formed in connection with the application of PBU to determine the amount of other income in accounting and the provisions of the Tax Code - to account for income for tax purposes.
The amount of the difference between BU and NU in the amount 50 000 rub. represents a constant difference, which consists of the amount of the contribution of the founder, who owns 100% of the shares, to the authorized capital of the LLC.
6. Other expenses.
The amount of other expenses for accounting purposes in 2013 amounted to 1 540 000 rub.
For the purposes of tax accounting, the amount of non-operating expenses amounted to 630 000 rub., the amount of expenses associated with the implementation of fixed assets - 15 000 rub. Total amount of expenses accepted for tax accounting purposes - 645 000 rub.
The resulting difference in accounting for other expenses for accounting purposes and non-operating expenses for tax accounting purposes was formed in connection with the application of PBU to determine the amount of other expenses in accounting and the provisions of the Tax Code - for accounting expenses for tax purposes.
The amount of the difference between BU and NU in the amount 895 000 rub. is a permanent difference, which is formed from the following expenses not accepted for NU purposes:
- 150 000 rub. interest on bank loans exceeding the maximum amount accepted for the purposes of NU in accordance with Article 269 of the Tax Code of the Russian Federation;
- 300 000 rub. losses for 2012 related to the previous tax period, not taken into account in the current tax period;
- 420 000 rub. bonuses from net profit and material assistance to employees of the organization;
- 20 000 rub. fines and penalties under the act field check PFR and FSS dated July 27, 2013 No. 7770077;
- 5 000 rub. other expenses (including depreciation of fixed assets for non-production purposes, acquisition drinking water and other expenses not taken into account for NU purposes).
This loan was provided to the Company by Vozrozhdenie Bank for replenishment working capital, in accordance with the loan agreement dated June 15, 2013. No. 01234567.
The amount of the loan, according to the agreement, is 5 000 000 rub. and fully received by the Company in June 2013.
The maturity date for the principal amount of the debt under the loan agreement is July 1, 2017. Interest is repaid monthly.
7. Income tax calculations.
The Company forms in the accounting records and discloses in the financial statements information on corporate income tax calculations in accordance with the requirements of PBU 18/02 “Accounting for corporate income tax calculations”.
Profit for income tax purposes in accordance with the data of tax accounting registers and data tax return amounted to 1 635 000 rub.
The income tax rate in 2013 was 20%. The amount of accrued income tax according to the tax return for 2013 amounted to 327 000 rub.
The amount of accounting profit according to the accounting registers amounted to 470 000 rub.
The amount of the conditional expense reflected in the accounting records in the debit of account 99.02.1 “Conditional income tax expense” amounted to 94 000 rub. (470,000*20%).
The amount of deferred tax assets (hereinafter DTA) at the beginning of 2013 was 50 000 rub. During 2013, there was an increase in IT by the amount 34 000 rub. due to the occurrence of a temporary difference (in terms of depreciation of fixed assets) in the amount of 170 000 rub. (170,000*20% = 34,000).
The amount of permanent tax assets (hereinafter PTA) was in 2013 10 000 rub. PNA arose due to a permanent difference in the amount of the contribution of the founder who owns 100% of the shares in the LLC in the Company's management company in the accounting records in the amount of 50 000 rub.
The amount of permanent tax liabilities (hereinafter referred to as TTL) in 2013 amounted to 209 000 rub. PNR arose due to permanent differences in the amount 1 045 000 rub. ((100,000 + 50,000 + 150,000 + 300,000 + 420,000 + 20,000 + 5,000)*20% = 209,000).
The current corporate income tax calculated in accordance with the provisions of PBU 18/02 is 327 000 rub. ( 94 000 + 34 000 + 209 000 - 10 000 )* and corresponds to the data of the tax return for 2013.
*Current corporate income tax = conditional expense + Accrued IT + PNO - PNA.
8. Financial result of economic activity
The financial result obtained in 2013 amounted to 177 000 rub. ( 470 000 - 327 000 + 34 000 ).
The financial result of the enterprise in 2013 was affected by the expenses incurred and written off to the financial result:
- managerial,
- commercial,
- others,
9. Information about the accounting policy of the organization
The Regulation on the accounting policy applied by the Company is drawn up in accordance with the provisions federal law No. 402-FZ dated 06.12.2011 “On Accounting” and the requirements of PBU 1/2008 “Accounting Policy of the Organization” and other current provisions, guidelines, instructions.
The accounting policy of the Company was approved by Order No. UP dated December 30, 2012.
The initial cost of the fixed assets of the Company is repaid:
- straight-line method according to depreciation rates established depending on the period beneficial use OS according to the OS Classification, approved by the Decree of the Government of the Russian Federation of 01.01.2002 No. No. 1.
- the useful life is reduced by the number of years (months) of operation of this property by the previous owner.
- as part of inventories and are written off as expenses as they are put into operation.
Fixed asset repair costs:
- are included in the cost of products (works, services) of the reporting period.
- 1 time in 3 years.
Society creates reserve under the reduction of the cost of inventory through financial results.
The reserve for the decrease in the cost of inventory is formed:
- by the amount of the difference between the current market value and the actual cost, if the latter is higher than the current market value.
- The amount of the reserve in the absence of asset movement:
- during the year - 50% of the book value,
- over a year - 100% of the book value.
- in a linear way.
- written off at the same time.
The allowance for doubtful debts is:
- 100%, if a court decision is made not in favor of the Company, or on bankruptcy/liquidation of the debtor.
- 100%, if all attempts made to search for the debtor were unsuccessful.
- 50% if it was not possible to avoid pre-trial settlement and the case was brought to court.
- 50% if the period of delay of the debt exceeds 3 months and the debtor does not sign the act of reconciliation of mutual settlements / does not agree with the amount of the debt.
- 30%, if the period of delay of the debt exceeds 3 months and the debtor signed the act of reconciliation of mutual settlements and agrees with the amount of the debt.
- as soon as the work, service, product () is ready.
Unfinished production takes into account:
- on account 20 "Main production" in the amount of the actual cost. Account 21 "Semi-finished products of own production" does not apply.
- The actual cost of raw materials, materials used in the production of goods (performance of work, provision of services) and forming their basis, or being a necessary component in the production of goods (performance of work, provision of services);
- Price finished products used in production;
- General production expenses.
TO overhead expenses related to the production and sale of goods of own production, as well as the performance of work and the provision of services include:
- The actual cost of raw materials and materials used for general production purposes;
- Depreciation deductions for fixed assets for production and general production purposes;
- Depreciation deductions for intangible assets for production and general production purposes;
- The cost of purchased goods and finished products used in production;
- Expenses for work and services of third-party organizations of a production and general production nature;
- Labor costs of the main production personnel with deductions for insurance premiums;
- Deferred expenses in the part related to general production expenses.
- proceeds from the sale of products (works, services).
- are not distributed among the objects of calculation and are debited directly to the debit of account 90 “Sales of products (works, services)” as conditionally constant with distribution between product groups in proportion to the share of sales proceeds.
- fully in the reporting year of their recognition as expenses for ordinary activities ().
- based on the cost of their acquisition. Transportation costs for the delivery of goods are recorded separately on account 44 "Sales costs".
Costs incurred by the organization in the reporting period, but related to the next reporting periods are reflected in the balance sheet:
- in accordance with the conditions for the recognition of assets established by regulatory legal acts on accounting, and are subject to write-off in the manner established for writing off the value of assets of this type (clause 65 of the Regulations on Accounting and Reporting).
Non-exclusive rights for software products and other similar intangible objects that are not intangible assets in accordance with:
- are accounted for on account 97 “Deferred expenses” and written off to expenses on a monthly basis in equal installments during the term of the contract (clause 39 PBU 14/2007).
Reserves for future expenses for the payment of vacation pay are recognized as an estimated liability and are reflected in the account of reserves for future expenses. The amount of the estimated liability is included in other expenses. The amount of the estimated liability is determined on the basis of the entire amount of vacation pay due, but not taken off by employees on the reporting date (clauses 17, 18, 19 of PBU "Estimated Liabilities, Contingent Liabilities and Contingent Assets").
Reserves for future expenses and payments in 2013, the creation of which is not mandatory in accordance with the current legislation - are not created.
Received loans and credits are accounted for as part of short-term or long-term borrowings, in accordance with the terms of the agreement, namely:
- With a maturity not exceeding 12 months, loans and borrowings are accounted for as short-term debt on loans and borrowings;
Any enterprise reporting will be clearer for information users if there are explanations. An explanatory note to the balance sheet and the income statement is provided for the financial and accounting statements. Let's consider a sample of filling out explanations for the balance sheet.
Explanations drawn up for financial and accounting statements are designed to:
- describe in detail the meaning of reporting indicators;
- link the content of the reports with each other;
- reflect the current accounting policy of the enterprise;
- justify the financial result.
This important document, based on which you can conduct a deep analysis of the economic activity of the organization.
All organizations that maintain full accounting records should draw up an explanatory note. The exception is small businesses that are allowed a simplified accounting procedure and are not subject to mandatory audit.
The mandatory form of submission is not established by law; it can be drawn up using tables and text. There is only the form recommended by the Ministry of Finance.
Deadlines and procedure for submitting an explanatory note
The preparation of an explanatory note is carried out within the same time frame as the accompanying financial statements. The submission procedure also coincides with the procedure, deadline and addressees for the submission of annual or interim accounting and financial statements.
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Contents of the explanatory note to the balance sheet
In the process of compiling explanations, it is necessary to disclose the indicators shown in the reports in summary:
- cost of fixed assets;
- value of intangible assets;
- inventory value;
- accounts payable;
- receivables;
- structure and size of financial investments.
It should also be taken into account that the content of not only balance sheet items is disclosed, but also other forms of reporting, especially for the Statement of Financial Results.
Almost always, if an enterprise suffers a loss at the end of the reporting period, the tax authority requires it to be substantiated and confirm the correctness of accounting for income and expenses. In this situation, the totality of indicators of the balance sheet, cash flow statement, statement of changes in capital, can confirm the correctness of the calculation of taxes.
If the company changed the accounting policy, then it is necessary to reflect this in the text and explain the essential conditions of the accounting policy.
The explanatory note also discloses the composition of affiliated persons.
Sample explanatory note to the balance sheet
Example 1. How can I start an explanatory note
Example 2. How to explain individual balance sheet items
In the explanatory note, we give, for example, such tables, with an explanation of which indicator is indicated in the corresponding line of the balance sheet.
Example 3. How to explain the Statement of Financial Performance
With careful and systematic maintenance of tax accounting registers, it will not be difficult for an accountant to enter accounting results in a simple table. In this case, the cost structure of the enterprise is clearly visible.
This method of explanation is also convenient for further preparation of the Report for founders. The visibility of expense items allows the owner to make adequate decisions and evaluate the profitability of business lines.
If an enterprise receives income from several types of activities, it is also advisable to break down the gross income received into separate items:
Thus, a well-written explanatory note solves the following questions:
- reduces the number of requests for explanations received by the organization from the tax authorities;
- reduces the likelihood of on-site inspections;
- gives users reporting the most accurate picture of the economic life of the organization;
- serves as a basis for deep analytics of business processes;
- helps owners to correctly assess the situation and develop profitable areas.
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