A. Kh. Kurmanova
Accounting (financial) statements
Introduction
In conditions market economy accounting (financial) reporting is the most important element information system and acts as a means of external communication, serving as the basis for assessing the financial and economic potential of the organization, the efficiency of use financial resources and the effectiveness of its activities, conducting various analytical studies, subsequent planning and forecasting.
Studying the discipline "Accounting (financial) reporting" is a necessary condition for the fundamental training of a student studying in the field of study 080100.62 "Economics", the profile "Accounting, analysis and audit", as well as in the specialty 080101.65 " Economic security", specialization "Financial accounting and control in law enforcement agencies."
The main objective of the discipline is to implement the requirements established in the Federal state standard specialty 080101 “Economic Security”, specialization “Financial Accounting and Control in Law Enforcement Agencies”, as well as the Federal State Educational Standard of Higher vocational education in the direction of training 080100.62 “Economics”.
The main goal of mastering the discipline “Accounting (financial) reporting” for a student is to master professional competencies necessary for the preparation of accounting (financial) statements based on data accounting. The ultimate goal of studying the discipline is the formation of a system of knowledge about the content of the accounting (financial) statements of the organization as an information base for justifying management decisions of the financial nature of business entities and practical skills in the preparation and presentation of the accounting (financial) statements of the organization for a wide range of internal and external users. The discipline involves the study of the composition, principles, requirements, techniques, procedure and timing of reporting in organizations of all organizational and legal forms in the territory Russian Federation and allows you to gain not only theoretical knowledge of the scientific foundations of the formation of reporting indicators, but also to master practical skills in preparing accounting (financial) statements.
Studying the discipline is aimed at acquiring a system of knowledge about the content and principles of the formation of accounting (financial) statements, regulatory documents regulating the composition, structure, requirements for its content and the procedure for generating reporting indicators, on the relationship of accounting (financial) reporting with other economic sciences; involves mastering the methods for generating reporting indicators of accounting (financial) reporting forms, as well as consolidated (financial) reporting, understanding the need to expand the information capabilities of accounting (financial) reporting to ensure a competent approach to the preparation and presentation of accounting (financial) reporting that satisfies the interests of both internal, as well as external users.
The textbook was developed taking into account the requirements of the Federal State Educational Standard for Higher Professional Education in specialty 080101 “Economic Security”, approved by Order of the Ministry of Education and Science of the Russian Federation dated January 14, 2011 No. 543; in accordance with the Federal State Educational Standard of Higher Professional Education in the field of training 080100.62 “Economics”, approved by Order of the Ministry of Education and Science of the Russian Federation dated December 21, 2009 No. 747, based on the sample program of the discipline “Accounting Financial Reporting”, approved by the Educational Institution of Education of Russian Universities with a background in finance, accounting and global economics. The manual includes an introduction, eight sections, a workshop, a glossary, a list of sources used and appendices.
1 Conceptual basis of accounting (financial) reporting
1.1 Concept and types of organization reporting. General characteristics of accounting (financial) statements
Reporting is the final stage of the accounting process. In system economic accounting systematization, accumulation and generalization of data obtained in the process of primary monitoring of activities is carried out economic entity. This data should be presented in a compact form that is convenient for viewing and perception by interested users. This form is reporting.
In the explanatory dictionary of the Russian language, reporting is defined as “supporting documents containing a report on work and production costs.” An organization's reporting is a system of interrelated indicators reflecting conditions and results economic activity organizations for reporting period. It includes certain tables in which indicators are formed on the basis of business accounting data (accounting, statistical and operational) and summarized in a certain order and sequence. Reporting, integrating information from all types of accounting, covers all aspects of the activity of an economic entity and contains aggregate information about the results of its production, economic and financial activities.
Reporting indicators are used to analyze economic activity in individual areas of production, determine its positive and negative aspects, reasons for deviations from the plan, and identify internal reserves to improve the efficiency of organizations. Reporting is used in a management system as a way for higher levels to obtain information about the work, results or state of affairs in lower levels or other objects they manage. The reporting system makes it possible to determine the results of the work not only of individual organizations, but also of their associations and industries as a whole. The main types of reporting are presented in Table 1.
Table 1 – Types of reporting by economic entities
All types of reporting complement each other, because reflect diverse information about the financial and economic activities of the organization. The interrelation of types of reporting is manifested through the unity of data for the formation of reporting indicators. As an element of the accounting method, the essence of reporting comes down to summarizing data from current accounting of economic activities in the system of accounts, identifying debit and credit turnover in accounts, drawing ending balances and presentation of these indicators in the form of a balance and other forms convenient for viewing and perception by users.
Reporting performs an important functional role in system economic information. Accounting (financial) statements are one of the main sources of financial information about the activities of an organization for adoption economic decisions by users. Meaning financial statements characterized by its ability to contribute to solving a number of important problems associated with the use accounting information. Accounting reporting provides systemic control of the correctness and accuracy of accounting data at the end of each accounting cycle. When preparing financial statements, accounting information is systematized, indicators that are significant for characterizing the organization’s performance are selected, and redundant information that is not important to users is eliminated this level. Reporting indicators are compiled into systematic groups that make them easier to understand and use. Accounting (financial) statements serve as a source of information for financial analysis. Based on its indicators, an express assessment of the state of the organization’s property and its sources is given, the financial stability, solvency, profitability of the organization is determined, and trends in its development are identified. Accounting (financial) statements can be used as information base for planning, monitoring and evaluating the activities of the organization. Based on information from financial statements, the implementation of plans is assessed, deviations from planned targets are identified, possible consequences and ways to eliminate them. Based on deviations of reporting indicators from planned ones, one can judge the quality of planning, possible reserves for improving the final performance indicators of the organization, and the need to clarify planned calculations. Accounting information serves as the basis for subsequent planning. Accounting statements are the main means of communication, providing external users with the opportunity to assess the financial condition of the organization. Thus, accounting (financial) reporting has functions inherent in information systems: information, control and communication.
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Content
TUTORIAL 7
Introduction 8
1. The role and importance of accounting statements in the financial management of an enterprise 10
1.1. Accounting (financial) reporting and its users 10
1.2. National Accounting and Compilation Standards financial statements 11
1.3. General requirements requirements for the composition of financial statements and the formation of their indicators 18
1.4. Basic techniques for analyzing accounting (financial) statements 20
2. Analytical capabilities of form No. 1 “Balance Sheet” 21
2.1. Purpose, structure and content of the balance sheet 21
2.2. Analysis of the structure of property and liabilities of the enterprise 35
2.3. Balance sheet liquidity analysis 40
2.4. Calculation and evaluation financial ratios solvency 42
2.5. Analysis of bankruptcy forecasting. Domestic and foreign assessment methods 45
2.6. Calculation and evaluation of financial ratios financial stability 48
2.7. Classification financial condition organizations according to consolidated criteria for assessing financial statements 49
2.8. Overall rating business activity organizations. Calculation and analysis of the financial cycle 51
3. Analytical capabilities of Form No. 2 “Profit and Loss Statement” 54
3.1. Purpose, structure and content of the profit and loss statement 54
3.2. Level and dynamics analysis financial results according to reporting data 61
3.3. Analysis of costs incurred by the organization 64
3.4. Break-even analysis 70
3.5. Factor analysis of profit 72
3.6. Analysis of the organization's profitability indicators 74
4. Analytical capabilities of form No. 3 “Report on changes in capital” 76
4.1. Purpose, structure and content of the statement of changes in capital 76
4.2. Composition and Movement Analysis equity 80
4.3. Magnitude Analysis net assets 82
5. Analytical capabilities of form No. 4 “Traffic Report” Money" .... 85
5.1. Purpose, structure and content of the cash flow statement 85
5.2. Analysis of the cash flow statement by the direct method 89
5.3. Cash Flow Statement Analysis indirect method 92
6. Analytical capabilities of form No. 5 “Appendix to balance sheet» 94
6.1. Purpose, structure and content of the appendix to the balance sheet.... 94
6.2. Motion Analysis borrowed money 106
6.3. Analysis of accounts receivable and accounts payable 108
6.4. Analysis of depreciable property 115
6.5. Analysis of the flow of funds long term investment and financial investments 122
7. Analytical capabilities of form No. 6 “Report on intended use funds received" 124
7.1 Purpose, structure and content of the report on the intended use of funds received 124
7.2 Analytical capabilities of the report on the intended use of funds received 125
8. Directions for using financial reporting analysis data 126
Conclusion 127
9. List of references and links to Internet resources 128
9.1. Basic literature 128
9.2. Further reading 129
DISCIPLINE STUDY GUIDE 131
1. Information about the authors 132
2. Goals, objectives of studying the discipline and areas of professional application 132
3. The required amount of knowledge to study this discipline 133
4. Basic information about the discipline and its structure 133
5. List of main topics and subtopics 134
5.1. Topic 1. The role and importance of accounting statements in the financial management of an enterprise 134
5.2. Topic 2. Analytical capabilities of form No. 1 “Balance Sheet” 135
5.3. Topic 3. Analytical capabilities of Form No. 2 “Profit and Loss Statement” 136
5.4. Topic 4. Analytical capabilities of the “Report on changes in capital” form 137
5.5. Topic 5. Analytical capabilities of the “Cash Flow Statement” form 138
5.6. Topic 6. Analytical capabilities of the form “Appendix to the Balance Sheet” 139
5.7. Topic 7. Analytical capabilities of the form “Report on the intended use of funds received” 140
5.8. Topic 8. Analysis of consolidated financial statements 141
5.9. Topic 9. Directions for using financial statement analysis data.... 142
6. To carry out final control it is necessary 143
7. List of references and links to Internet resources 144
7.1. Basic literature 144
7.2. Further reading 145
PRACTICUM ON COURSE 147
Task 1. Analytical capabilities of Form No. 1 of the annual (quarterly) financial statements “Balance Sheet” 148
1.1. Conditions of task 148
1.2. Form No. 1 148
1.3. Study of the structure and dynamics of the financial condition of an organization using a comparative analytical net balance sheet 152
Task 2. Analytical capabilities of Form No. 2 of the annual (quarterly) reporting “Profit and Loss Statement” 165
2.1 Task conditions 165
2.2 Profit and loss statement 165
2.3. Analysis of the level and dynamics of financial results 168
Task 3. Analytical capabilities of Form No. 3 of the financial statements “statement of changes in capital” 177
3.1 Task conditions 177
3.2 Form No. 3 177
3.3. Analysis of the state and movement of equity capital 182
Task 4. Conditions of task 4. Analytical capabilities of form No. 4 “Cash Flow Statement” 184
4.1 Task conditions 184
4.2. Form No. 4 185
4.3. Analysis of cash flows according to reporting data 189
Task 5. Analytical capabilities of form No. 5 “Appendix to the balance sheet” 193
5.1 Task conditions 193
5.2. Appendix to the balance sheet 194
5.3. Analysis of the movement of borrowed funds 202
TESTS 211
CURRICULUM 231
The textbook contains the theoretical foundations of both individual financial statements and consolidated financial statements of an organization according to RAS. The methodology and logic of presenting the material help the student, the FPK listener, to develop clarity of thoughts, deep perception of the material, its assimilation, highlighting the main thing and understanding the result of studying the proposed topics. This is facilitated by the necessary conceptual tools and fairly complete use of the regulatory framework governing the preparation of annual financial statements.
Practical material, test questions and tests for self-control of the topics being studied help to consolidate theoretical foundations, set out in the manual. Solving a cross-cutting problem with initial data for preparing annual financial statements allows you to consolidate theoretical knowledge.
Intended for undergraduate and specialist students, students of advanced training courses, teachers and practitioners in the accounting field.
The concept of reporting, its types and meaning for users.
Concept and purpose of reporting. Financial statements - one system information about property and financial situation organization on a certain date and on the financial results of its economic activities for the reporting period, presented on the basis of accounting data in established forms.
The purpose of accounting reporting is to summarize accounting data over a certain period of time and present it in a visual form to interested users.
Accounting reporting is the final stage of the accounting process. An organic connection between accounting and reporting is established when the final data obtained in accounting is poured into the appropriate reporting forms in the form of synthesized indicators.
Content
Introduction
TOPIC 1. Accounting statements, their essence and content
1.1. The concept of reporting, its types and meaning for users
1.2. Regulatory and legislative regulation of accounting statements
1.3. Preparatory work prior to filling out financial reporting forms (closing the reporting year)
1.4. Requirements for financial statements
1.5. Responsibility for failure to submit or violation of deadlines for submitting financial statements
1.6. International standards financial statements and their role in transition period Russia to the market (IFRS: opportunities and prospects)
1.7. Russia's transition to international financial reporting standards
Self-tests for topic 1
TOPIC 2. Balance sheet and the procedure for its preparation
2.1. Concept and classification of balance sheets
2.2. Purpose and basic principles of constructing a balance sheet
2.3. Methods for assessing balance sheet items
2.4. Contents of the balance sheet and the procedure for its preparation
Test questions and assignments
Self-tests for topic 2
TOPIC 3. Profit and loss statement and methodology for its preparation
3.1. General characteristics of income statement indicators
3.2. Methodology for preparing a profit and loss statement (form No. 2)
Test questions and assignments
Self-tests for topic 3
TOPIC 4. Statement of changes in capital and techniques for its preparation
4.1. General characteristics of capital, its composition and structure
4.2. Methodology for preparing the statement of changes in capital and reserves
Test questions and assignments
Self-tests for topic 4
TOPIC 5. Cash flow statement and methodology for its preparation
5.1. Historical aspect. Conceptual apparatus
5.2. Methodology for preparing a cash flow statement
Test questions and assignments
Self-tests for topic 5
TOPIC 6. Appendix to the balance sheet and techniques for its preparation
Test questions and assignments
Self-tests for topic 6
TOPIC 7. Explanatory note
Test questions and assignments
Self-tests for topic 7
TOPIC 8. Audit report and the procedure for its preparation
TOPIC 9. Consolidated financial statements
9.1. Characteristics of the conceptual apparatus
9.2. Target consolidated statements, its composition and principles of compilation
9.3. Procedure for preparing consolidated statements
Test questions and assignments
Self-tests for topic 9
Glossary
Literature
Applications:
1. Interrelation of reporting forms for 2009
2. Workshop on preparing annual financial statements (using the example of a conditional commercial organization JSC "Vector")
3. Profit and loss statement (approved by a resolution of the Council of the Central Union of the Russian Federation)
4. Appendix to the balance sheet (approved by a resolution of the Council of the Central Union of the Russian Federation)
5. Statement of financial results for the year 200_
6. Certificate of financial results for the year 200_.
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The manual provides general characteristics accounting methods and principles, as well as basic topics financial accounting with examples. The fourth part of the work presents practical tasks for the course, as well as complex tasks and a test. The manual is intended for students majoring in Economics and Management who are studying an accounting course. The manual may also be useful for managers and financiers who are faced with the accounting and reporting system of an enterprise, as well as for anyone who is interested in accounting issues.
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