The balance sheet is designed to work with account balances and transactions. When filling out the form of financial statements, the indicators of the activities of the branches of the organization should also be included in it. Balance calculation - the final stage of accounting in the company, which reflects the results of economic activities and financial position for the reporting period.
Instructions
Step 1
There are many accounting programs with which the balance can be calculated automatically, but it is not always possible to use such a program, and then you have to do it manually.
Step 2
Intangible assets and fixed assets are reflected at their initial and residual values in the balance sheet, depreciation is indicated in a separate item. Material resources such as raw materials, fuel, auxiliary materials, spare parts are recorded at actual cost, and finished and recorded products at full and incomplete production and actual costs. Goods in trade organizations are reported at purchase or sales value, and the difference between prices should be treated as a separate line. Work in progress in the balance sheet is recorded at the planned cost or direct expense items.
Step 3
The balances of the company's funds on all foreign currency accounts, as well as other funds, accounts receivable and payable, securities in foreign currency are converted into national currency at the current rate set by the National Bank. Settlements with creditors and debtors are reflected in the amounts arising from the accountant's records and recognized as correct. In the event of a disagreement, the interested party must submit the rebutting materials within the established time frame.
Step 4
The calculation and writing off of debts at a loss due to insolvency is not a reason for canceling the debt, which is reflected in the balance sheet for another 5 years to monitor the possibility of debt collection.
Step 5
If there is a disposal of the company's assets or disposal, then the gain or loss is charged to financial results. In case of gratuitous transfer of property and fixed assets, the financial result is attributed to the company's own sources of funds. Unrecoverable losses due to natural disasters are calculated and written off at the decision of the management from the reserve capital or to the financial results of the reporting year.
Step 6
Each balance sheet item for the reporting year must be confirmed by the results of an inventory of liabilities and assets. Only after everything is formalized and each amount is registered in the balance sheet, you can calculate the left side of the balance, and then the right side. The totals must be equal.
