Determination of the balance sheet currency allows you to characterize the volume of economic liabilities of the enterprise that arose at the reporting date. This indicator is a monetary expression of the financial and property status of the company and is determined on the basis of the balance sheet.
Instructions
Step 1
Enter the data into the balance sheet, guided by the accounting accounts. For registration of indicators, it takes the difference between the corresponding accounts at the beginning and end of the reporting period, minus depreciation deductions, if any. If the balance is positive, then the value is credited to the table, and if it is negative, then it is debited.
Step 2
Complete the active part of the balance sheet. Section 1 "Non-current assets" contains information on the balances of all assets of the enterprise, which have a duration of more than one year, including fixed assets, intangible assets and other long-term indicators.
Step 3
Calculate the grand total for this section and enter in line 190 of the balance sheet. In Section 2, Current Assets, enter the balance of assets that were sold, consumed, or converted into cash during the year. These include: accounts of debtors, prepaid expenses, inventory and so on. The total is entered in line 290. After that, lines 190 and 290 are summed up and the value is entered in line 300.
Step 4
Calculate and enter the data in the passive part of the balance sheet. To do this, fill in: section 1 "Capital and reserves" with the corresponding values for retained earnings, authorized and reserve capital, etc.; section 2 "Long-term liabilities" and section 3 "Short-term liabilities", characterizing loans, borrowings and other debts of the enterprise. Summarize the corresponding totals on lines 490, 590 and 690. Enter the total for the liability on line 700.
Step 5
Compare the values of line 300 and line 700. If they are equal, then the balance is drawn up correctly and this value is recognized as its currency. If not, re-check all reporting lines for errors or inaccuracies.
