Moscow State University of Printing. Moscow State University Printing Final Qualifying Work
Accounting is a system of documentary, continuous, continuous monitoring and control over the economic activities of an organization. This formulation was the result of the centuries-long development of accounting as an economic science.
The development of accounting and its formation as a science was caused by the needs of life, and accounting led to the improvement of writing and mathematics. With the increasing complexity of management, a stable system of calculating and recording accounting information was required to transmit information. For thousands of years, humanity has used such accounting acquisitions as:
recording numerical and text information;
natural accounting objects and their meters;
the beginning of summarizing the counting results;
material storage media - documents.
At the same time, there was still no system for collecting, processing and analyzing information. The documents were difficult to classify by nature and purpose in terms of modern record keeping practices.
Documentation of operations was carried out on papyrus, clay shards, and wood. They were often compiled in two or three copies. Accounting documents were considered valuable. They were dated and stored in special storage facilities, in boxes and baskets that were tied with straps and sealed. The clay labels indicated: the name of the responsible scribe, the name of the objects recorded, and a seal impression. The so-called inventory accounting arose as an element of simple accounting.
Inventory accounting recorded only the remains of material assets in their statics, without reflecting the accounting of the operations themselves for the movement of values. The daily recalculation of property and comparison of the actual availability of values with accounting records (inventory) required a significant investment of time and effort. Inventory accounting made it difficult to maneuver and dynamically manage the economy. The problems of reducing the accounting process led to the emergence of income and expenditure (permanent) accounting, which replaced discontinuous (discrete) inventory. The purpose of accounting was to verify the accuracy of the receipt and issue of material assets. Daily withdrawal of balances (receipts of valuables during the day were added to the initial balance and the amount consumed was subtracted) is one of the elements of the modern accounting method. The technical technique of jointly recording income and expenses in one document was a major invention, as it made it possible not only to state the presence of valuables at a certain point in time (as inventory accounting did), but to monitor their movement.
The introduction of a standard of measurement to compare the value of exchanged items required the invention of a system of weights, measures, and coinage. With the advent of money, acting as a standard of measurement and with the advent of state systems of measure and weight, money becomes an object of accounting. Thanks to the emergence of money circulation, subsistence farming gradually acquired the features of a commodity economy. Money turned into a universal equivalent in exchange and a single value meter in accounting, that is, all values began to be valued not only in their natural terms, but also uniformly in monetary value.
The development of money was facilitated by the activities of banks: deposit operations, issuing loans, guarantees and traditional exchange and change of money. The main achievements in banking accounting include accounting for non-cash payments, i.e., transferring client funds to their accounts. With the advent of banking accounting, money as an object of accounting merges with calculations. Customer accounts take on modern names: receipts are called debits, and expenses are called credits. Debit is equivalent to the concept - “he owes”, and credit - “he has”.
The emphasis shifts from primary documents to accounting registers (accounts). Accountants began to use three main registers:
a memorial book or memorial in which facts of economic life are recorded daily in chronological order;
a code for the systematic recording of cash accounts and calculations in the value meter;
a code for recording all material and material accounts (wine, livestock, oil, grain, etc.) in natural units of measurement.
The balance or balance was displayed for code accounts. Entries in the registers were two-sided: receipts were recorded on the left, and expenses on the right, and in a monetary meter.
The use of accounts to record transactions with business assets and reflect settlements with individuals and legal entities led to the emergence of simple accounting. Simple accounting made it possible to create a unified accounting system and take control of all material and monetary assets of an economic entity, as well as its calculations.
Subsequently, the development of accounting formed two main directions: desk and simple accounting. Desk accounting proceeded from the fact that the main object of accounting was the cash register. Simple accounting involved accounting for property, including the cash register. The result of management at this time was expressed by an increase in wealth, and not by indirect categories, even such significant ones as profit.
The development of accounting led to the emergence of double (debit-credit) entry. Double entry reflected the economic process in a more convenient and complete form. The system of simple accounting accounts was replenished with accounts of own funds, and material accounts received a monetary value, as a result of which all facts of economic life began to be reflected twice: in the debit of one account and the credit of another. Double entry turned out to be so convenient that it still forms the main element of modern accounting methodology.
Accounting, according to the Federal Law of November 21, 1996 No. 126-FZ “On Accounting”, is an orderly system for collecting, registering and summarizing information in monetary terms about the property, obligations of the organization and their movement through continuous, continuous and documentary accounting of all economic operations.
Business operations should be understood as an elementary component of the economic process. Accounting is maintained continuously by all registered legal entities (accounting entities) from the moment the organization comes into being until the moment of its liquidation or reorganization. The accounting principles and methodology are the same for all legal entities.
General methodological guidance of accounting in the Russian Federation is carried out by the Ministry of Finance of the Russian Federation, which includes the Department of Accounting and Reporting. The functions of managing accounting are implemented through the publication of regulations and guidelines, which should not contradict Federal laws, Decrees of the President of the Russian Federation and decrees of the Government of the Russian Federation.
Responsibility for organizing accounting in organizations and compliance with legislation when carrying out business operations lies with the heads of organizations. The manager appoints and dismisses the chief accountant, who reports directly to the manager. Without the signature of the chief accountant, monetary and settlement documents, financial and credit obligations are considered invalid and should not be accepted for execution. In case of disagreements between the head of the organization and the chief accountant regarding the implementation of certain business transactions, documents on them can be accepted for execution with a written order from the head of the organization, who bears full responsibility for the consequences of such transactions. The accuracy of accounting data is verified during audits and documentary audits.
Accounting is part of economic science, has its own theory, subject and method and is closely related to other types of economic accounting (operational and statistical).
Operational accounting used to quickly obtain information that is necessary for the current management of the enterprise
tiya and its subdivisions.
Statistical accounting used to obtain and summarize data characterizing mass and individual typical phenomena and processes of production activity and social life.
Accounting creates an information system that operates with data on the facts of economic life. It is a comprehensive and most reliable type of accounting, since from the moment of creation of the organization throughout its activities, a continuous reflection of all facts of economic life is continuously carried out in chronological order on the basis of primary accounting documents. Accounting presents quantitative information and is distinguished by the fact that it operates with data only in monetary units of measurement, although, if necessary, non-monetary information expressed in physical and labor indicators is used to clarify monetary information.
All three types of economic accounting are interrelated. Their function is to organize sound management of economic entities.
Article 1 of the Federal Law “On Accounting” defines the tasks of accounting:
generation of complete and reliable information about the organization’s activities and its property status, necessary for internal users of financial statements: managers, founders, participants and owners of the organization’s property, as well as external: investors, creditors and other users of financial statements;
providing information necessary for internal and external users of financial statements to monitor compliance with the legislation of the Russian Federation when the organization carries out business operations and their feasibility, the availability and movement of property and liabilities, the use of material, labor and financial resources;
preventing negative results from the organization’s economic activities and identifying internal reserves to ensure its financial stability.
In the management system, accounting performs the following functions:
ensuring the safety of property owners;
control as a means of ensuring effective management of an economic entity;
calculation of financial results (profit or loss);
informational.
Financial reporting of organizations is of interest to a wide range of users: external and internal.
Internal users of financial and management accounting reporting include: senior management of the organization, as well as managers at relevant levels who are responsible for management decisions made. Internal users of accounting information are the owners of the organization (general partners, shareholders, limited partners, shareholders, etc.) The owners need accounting information to assess the financial prospects of the organization in the future and the possibility of receiving income in the form of dividends. Internal users also include employees of an organization who are interested in reporting data from the point of view of their salary level and job prospects at a given enterprise.
External users operate outside of enterprises and can be divided into the following subgroups: users with direct financial interest, users with indirect financial interest, users without financial interest.
Users with direct financial interest are current and potential investors and lenders, as well as lending banks, which, based on reporting information, develop the conditions for granting loans and credits, determine the likelihood of loan repayment and assess the credibility of the organization as a client. The subject of analysis of this group is the financial position of the organization, the financial results of its work, and the liquidity of the balance sheet.
Users with indirect financial interests are represented primarily by tax and financial authorities who are interested in the correct preparation of financial statements and, most importantly, the calculation of taxes and their timely receipt to the budget. This group also includes servicing banks and insurance organizations that are concerned about assessing the possibility of concluding agreements on settlement operations and insurance. Suppliers and buyers are included in this group, since they must have information about the prospects for the operation of the enterprise.
The group of users of accounting information without financial interest includes statistical authorities, arbitration and audit firms. Users of this group are interested in financial reporting in order to verify the legality and legality of transactions (arbitration, audit firms) or to obtain statistical information for economic analysis. Users without financial interest also include legislative bodies, stock exchanges, the press and news agencies that use reporting information to prepare reviews, assess development trends and analyze the activities of individual companies; lawyers who need financial information to assess compliance with contract terms, legal compliance in the distribution of profits and payment of dividends, as well as to determine the terms of pensions, financial consultants who use accounting information to develop recommendations for their clients regarding the placement of their capital in one or another company.
The legislation of the Russian Federation for organizing the accounting process consists of four levels:
Level 1 - Codes, Federal laws, Decrees of the President of the Russian Federation and resolutions of the Government of the Russian Federation on accounting issues;
Level 2 - Accounting Regulations;
Level 3 - guidelines, instructions, recommendations and other similar documents;
Level 4 - working documents of a specific organization.
The Federal Law “On Accounting” applies to all organizations located on the territory of the Russian Federation, registered as a legal entity in accordance with the legislation of the Russian Federation. The rules contained in other federal laws and affecting accounting and financial reporting issues must comply with this Federal Law.
Second-level documents include accounting provisions and are approved by the Ministry of Finance of the Russian Federation. Such provisions regulate the principles and rules of accounting for individual objects of accounting supervision, which constitute a system of national standards focused on International Financial Reporting Standards. Currently, the system of national accounting standards includes 20 provisions.
Documents of the third level are prepared and approved by federal bodies, ministries and other executive authorities, professional associations of accountants on the basis and in the development of documents of the first and second levels. Third-level documents include charts of accounts for the financial and economic activities of organizations and instructions for their use, which form the basis for organizing accounting at all enterprises, regardless of subordination, forms of ownership, or legal form.
Documents of the fourth level are approved by the head of the organization. They contain, taking into account the specifics of business conditions, industry affiliation, structure, size of the organization and other factors, internal regulatory accounting documents of the organization, which are binding for the organization and form the accounting policy of the organization.
The development of specific accounting rules, enshrined in standards, instructions, and regulations, is based on certain principles. A principle is the starting position of a theory or teaching. There are only two fundamental principles for accounting: business unit principles And monetary measurement and a number of procedural principles associated with the processing of accounting observation data (Table 1).
Table 1
Procedural principles
Untitled document
Principle |
Conditions for the functioning of the principle |
Continuity |
The valuation of assets (property) is based on the premise that the enterprise will continue to operate (that is, it is not on the verge of closure). This principle is very important: many assets have value only insofar as they are used by the enterprise, and in the event of its liquidation, the sale price of these assets may be much less than their carrying value |
Materiality |
Determines that special attention should be paid to recording only that information, the absence or inaccuracy of which may affect the calculation of the financial result or the decision-making of users |
Duality |
Justifies the fundamental accounting equation linking the property of an enterprise (assets) with the sources of its formation (owner's capital and attracted capital) |
Continuity |
Accounting is maintained continuously from the moment the enterprise is organized until its liquidation, without any omissions or flaws. Accounting observation is continuous and continuous. Continuous observation implies coverage of all accounting objects |
Sequences |
It assumes that the selected accounting methodology at the enterprise will be used over a long period of time, which will ensure comparability of the financial results of the organization’s activities across reporting periods |
Periodicity |
Is it expressed in the practice of the annual accounting cycle and states that the financial result is calculated over certain periods of time? month, quarter, year. The roots of the periodicity principle lie in the idea of control. |
Costs |
An accountant defines the value of an asset as the cost to acquire it, not the value of the expected return from its use. |
Accruals |
Distinguishes between the receipt of cash and the right to receive it, and between the payment of cash and the legal obligation to pay it, because in practice there is usually no coincidence in time between the movement of cash and the legal obligations to which it relates. According to this principle, facts of economic activity relate to the reporting period in which they took place, regardless of the actual time of receipt or payment of funds associated with these facts |
Matches |
Combines income with related expenses to calculate financial results. The matching principle assumes that expenses should be reflected in the reporting period in which the income made possible by these expenses arose. |
Accounting |
An accountant, faced with different valuation methods, is more likely to choose the lowest valuation for assets and income and the highest for liabilities and expenses. |
Business unit principle or the principle of property isolation of an organization proclaims the legal independence of an economic entity in relation to its owner. This principle allows us to identify territory, property, bank accounts, external and internal connections. In accordance with this principle, financial and accounting information relates only to the activities of a business unit (organization), but not to the activities of its owners.
According to principle of monetary measurement Only information expressed in money is subject to accounting. Money is the only practically convenient unit of measurement that allows one to obtain comparable financial data on various objects of accounting observation.
Like any science, accounting has a subject and a method, there are objects of accounting observation.
The subject of accounting are:
the property of the enterprise (i.e., economic assets) and the sources of its formation (own and borrowed capital);
movement of property and sources of its formation (i.e., ongoing business transactions);
financial results of the enterprise (profit or loss).
A business transaction characterizes individual business actions (facts) that cause changes in the composition, distribution of property and/or sources of its formation.
The organization's property (economic funds or assets) is classified as (Fig. 1):
long-term and current (non-current and current);
tangible and intangible;
monetary and non-monetary, etc.
Based on their useful life, assets are divided into long-term (non-current) and current (current). Non-current assets are assets whose useful properties are expected to be used for more than a year, usually for several years. Current (current) assets mean assets whose useful properties are consumed either in one production cycle or within a period not exceeding one year. Non-current assets include fixed assets, capital and long-term financial investments, and intangible assets. All other types of assets are current or current.
The assets of an enterprise, depending on the role they play in production, economic and financial activities, are usually classified by composition and location. Fixed assets are part of the property used as means of labor in the production of products, performance of work or provision of services, or for the management of an organization for a period exceeding 12 months. Fixed assets are used in business activities for a long time, maintaining their natural form, and wear out gradually, which allows the enterprise to include their value in the cost of products (works, services) in parts - by calculating depreciation. Depreciation is a systematic process of repaying the cost of an object during wear and tear by transferring this cost to the produced product (work, service). Wear and tear refers to the gradual loss of use value of an object. A distinction is made between physical and moral wear and tear.
Capital investments can be divided into those related to and not related to fixed assets.
Fixed assets include capital investments for radical improvement of land (drainage, irrigation and other reclamation works), capital investments in leased fixed assets, capital investments in perennial plantings. Capital investments in the costs of construction of fixed assets (construction in progress), as well as costs for the acquisition of individual objects of intangible assets, fixed assets, equipment handed over for installation or to be installed are accounted for separately from fixed assets.
Intangible assets are long-term investment objects (over 12 months) that do not have a tangible structure, but have a valuation and the ability to generate income for the organization in the future. The cost of intangible assets is repaid through depreciation.
Financial investments include investments in the authorized capital and securities of other organizations, costs for the acquisition of government securities, and funds provided on loan. Financial investments are divided into long-term (for a period of over 12 months) and short-term (for a period of up to 12 months). Long-term financial investments pursue the goal of achieving financial control over the organization in which the investment is made, or ensuring stable income over a long period of time. Financial investments are not spent and their cost is not distributed over periods (not depreciated).
Current assets are usually divided into circulating funds involved in the production process and circulation funds involved in the circulation process. The circulation process involves selling products, purchasing inventories, storing money in bank accounts, etc.
Industrial inventories are objects of labor that, together with the means of labor and labor, provide the production process of the enterprise, in which they are used once during one production cycle and immediately transfer their value to the cost of production. Inventory includes raw materials and basic materials, auxiliary materials, purchased semi-finished products and components, returnable materials (waste), containers, fuel, spare parts, and low-value items.
Work in progress - products that have not passed all stages provided for by the technological process, as well as incomplete products that have not passed testing and technical acceptance.
Deferred expenses represent certain current assets of an intangible nature, the usefulness of which will end in the foreseeable future (rent paid in advance, subscriptions to newspapers and magazines, certain costs associated with the development of production and personnel training, etc.).
Finished products are part of an organization’s inventory, intended for sale, completed by processing (assembly), which is the end result of the production process, the technical and quality characteristics of which comply with the terms of the contract.
Goods are part of an organization’s inventories purchased from other legal entities or individuals and intended for sale without additional processing. Goods belong to circulation funds.
Shipped goods are finished products or goods shipped from a warehouse or workshop, the proceeds from the sale of which cannot be recognized in accounting for a certain time.
Cash - financial resources in the cash register of an enterprise, in bank accounts.
Funds in settlements or accounts receivable arise as a result of the release of finished products, goods and services to buyers without advance payment on the terms of repayment of the debt by the buyer within the agreed time frame. Accounts receivable include advances issued. Advances issued are funds that in the near future will turn into tangible or intangible assets, services received or, if the supplier fails to fulfill contractual obligations, will be returned in the form of cash to a bank account or to the cash desk of the enterprise.
Diverted assets are the amount of funds irrevocably withdrawn from profits (payments to the budget in the form of taxes, funds allocated for the payment of income (dividends) to participants in the enterprise, deductions for charitable purposes). A type of diverted assets are losses. Their presence characterizes direct losses, the result of ineffective management of the organization.
The sources of property formation - liabilities - are understood as capital, liabilities, accounts payable, funds, reserves, profit. The grouping of liabilities (classification of property by source of education) is presented in Fig. 2.
Capital advanced by the owner (share capital, authorized capital, authorized capital, mutual fund, etc.) is the main source of the enterprise's own funds. It can be nested and declared. The invested authorized capital is the total amount of contributions from the owners of the enterprise (cash or financial investments, fixed assets, intangible assets, inventories, etc.). Declared authorized capital is formed in cases where the capital is not actually contributed, but only declared. Participants (owners) of the organization will have to pay it in accordance with the deadlines specified in the constituent agreement.
Targeted financing is a specific source of the organization's own funds. Targeted financing - sources of funds received from other organizations or individuals, as well as from the budget, intended for the implementation of targeted activities. Targeted financing, used for other purposes or not used at all, turns from a source of own funds into a source of raised funds (an obligation subject to repayment).
due to the increase in the value of property assets identified as a result of their revaluation;
due to share premium (the amount of excess of the selling price of the company's shares over their nominal value). Share premium is considered as a reserve created to cover possible losses when ordinary shares are sold at a price below par.
The owner's reinvested (earned) capital is formed from profits received from the results of production, economic and financial activities. Profit is the excess of income over an organization's expenses. Accordingly, a loss is the excess of expenses over the organization's income. Profit and loss are the financial results of the financial and economic activities of an organization.
At the expense of profits, the following are formed: reserve capital and accumulation fund, reserves for depreciation of investments in securities, reserves for doubtful debts. Part of the profit is undistributed (capitalized) profit from previous years.
Reserve capital is intended to cover unforeseen losses and losses of the reporting year, as well as to pay dividends to shareholders who have preferred shares in case of insufficient profits, as well as to repay the bonds of the joint-stock company.
Reserves for impairment of investments in securities are used to cover losses when the price of securities falls.
Provisions for doubtful debts serve to compensate for losses in the event that it is impossible to collect amounts due to the company from the debtor. Doubtful debt is an organization's receivables that are not repaid within the terms established by the agreements and are not secured by appropriate guarantees.
Borrowed sources of property are loans and borrowings and accounts payable. Borrowed (attracted) capital is formed through obligations to second and third parties - lenders. Borrowed capital is considered long-term if it has a maturity of more than one year from the date of its registration in accounting. Short-term borrowed capital includes liabilities with a maturity of up to a year.
The loan is issued by a credit institution (bank). These are bank loans that must be repaid within the period specified in the loan agreement for a certain fee (interest).
The loan is provided to the organization by legal entities that do not have a banking license, or by individuals.
Accounts payable- debt (obligations) of the organization to legal entities or individuals. A creditor is someone to whom a business owes money. Consequently, accounts payable are attracted sources formed from funds provided to the enterprise by third parties.
Settlements with suppliers and contractors are accounted for in the form of invoices issued by suppliers for products shipped to the enterprise and for bills of exchange issued to suppliers. In the first case, the supplier ships products to the organization and issues invoices for payment. The fact of payment has not yet occurred. The supplier becomes a creditor of the organization that generates accounts payable.
Many organizations prefer to combine the shipment of goods and the provision of services with parallel payment for them. In such cases, prepayment is common. The seller receives an advance from the buyer, who needs to supply goods or provide services in the near future. From the moment funds are received in the bank account until the moment of shipment, the seller becomes the buyer’s debtor. And advances received act as a type of accounts payable.
Wages are an obligation (debt) of the organization to its staff, since there is almost always a time gap between the moment of accrual and payment of wages. Until the payment of wages, it is accounted for as accounts payable of the organization.
Debt to the budget arises due to a gap in the time of accrual of taxes and fees (i.e., their calculation and attribution to expenses or indication of the source of their payment) and their payment. Taxes are calculated before payment. Thus, accounts payable to the budget for taxes and fees are also considered as a short-term source of raised funds.
Obligations to the founders for the payment of dividends arise due to the gap in time between the fact of accrual of dividends to the owners and the moment of repayment of this debt.
Future income, or deferred income: cash received in advance, repayment of debts for which it is expected to ship finished products to customers, as well as perform work and services for customers over several adjacent periods in the future.
Reserves for future expenses and payments are created for future payment of vacations to employees, payment for repairs of fixed assets, for warranty repairs and warranty service. These reserves are a debt to the organization's personnel, contractors carrying out repairs, as well as to customers under warranty obligations. Until the reserves for future expenses and payments are spent, they are involved in the economic turnover of the organization and act as short-term accounts payable.
Methods of accounting include: grouping and assessing facts of economic activity, repaying the value of assets, organizing document flow, inventory; methods of using accounting accounts, accounting register systems, information processing. A set of rules and technical techniques with the help of which accounting problems are solved - accounting method.
The main elements of the accounting method are:
calculation;
accounting accounts;
double entry;
balance generalization;
financial statements.
documentation;
inventory;
Documentation- a method of primary reflection of completed business transactions, registration of each business transaction with primary documents. With the help of documentation, a continuous reflection of business transactions is made at the time and place of their completion.
Inventory is a method of checking the correspondence of the actual availability of funds and the sources of their formation with accounting data. Inventory objects are: all property of the organization and all types of financial obligations.
Valuation is a way of expressing accounting objects in a generalizing monetary measure. The purpose of the assessment is to determine the actual cost of the accomplished economic fact. A type of assessment is considered to be calculation.
Costing is a method of grouping costs and calculating the cost of a unit of production based on accounting.
Accounts- a method of economic grouping of objects of observation, allowing to reflect not only the initial and final state, but also the changes themselves in the objects of accounting as a result of completed business transactions. Accounts are opened for each type of asset and each type of liability. Accounting accounts are the most important element of the accounting information system and a tool for its modeling.
Double entry is a method of reflecting business transactions in a system of accounting accounts. With double entry, the amount of a business transaction is recorded twice: in the debit of one account and in the credit of another.
Balance summary- grouping of economic assets and their sources according to economic content on a certain date. The balance sheet allows you to compare the assets and liabilities of the organization, calculated in monetary terms. The balance sheet equation contrasts the economic content of accounting (what is taken into account) and its legal aspect (from what sources the organization acquired property). Both estimates are presented in the balance sheet in equal amounts.
Financial statements- this is a system of indicators that reflect the position of the organization at the reporting date, as well as the financial results of its activities for the reporting period. Using financial statements, the organization's management develops tactics and strategies for financial development - assesses possible business risks, seeks directions for increasing the efficiency of production and financial investments, and selects the most attractive credit policy.
Let us dwell in more detail on the accounting accounts and their structure. The account is the most important element of the accounting information system. Accounting accounts are opened for each type of asset and liability. Each account has a name (name) and a code (number, code), indicating the type of object being accounted for. Accounting accounts are designed to reflect on them all current changes in the state of the enterprise’s property and the sources of its formation under the influence of business transactions. It is in the accounts that business transactions are recorded.
Account- this is a local system, in the process of formation of which, under the influence of business transactions, accounting, current and subsequent control over the presence and movement of an economically homogeneous object is carried out.
The movement of each accounting object occurs only in two directions: towards increase and towards decrease. Therefore, in order to separately reflect the increase and decrease of the accounting object, the account is divided into two parts in the form of a two-sided table. The left side is called “debit”, and the right side is called “credit”. At the beginning of the table the code and name of the account are given (Fig. 3). The sum of the total of records of all business transactions on the debit of an account is usually called debit turnover or debit turnover. The sum of the total records of all business transactions on the credit of the account is called credit turnover or credit turnover. The balance or balance of an account indicates the presence of an accounting object at a certain point in time (at the beginning of the day, on the first day of the month, quarter). There is an opening and closing balance or remainder.
The opening balance (balance) for a certain account is equal to the amount of the corresponding item (line) of the balance sheet at the beginning of the reporting period, and the ending balance (balance) is derived by calculation and transferred to the balance sheet at the end of the reporting period. Accounting actions of selecting from the balance sheet data characterizing the object of observation at the beginning of the reporting period and transferring them as an opening balance to accounting accounts are called opening an account.
Depending on the receipt of data on funds or sources of their formation, accounting accounts are divided into active and passive.
Active accounts are accounts on which the funds (property, assets) of the enterprise are kept. Active accounts are opened based on the asset items of the balance sheet. In an active account, the remainder or balance is always reflected in debit. The receipt of funds into the organization (an increase in the active account) is reflected as a debit, and the outflow of funds (a decrease in the active account) is reflected as a credit. In Fig. 4 shows a diagram for determining the balance for active accounts.
An increase in the credit value of an active account leads to a decrease in the debit value of the account. In the active account, the debit (left) side reflects the initial and final balance, transactions to increase the enterprise's funds, and the credit (right) side - transactions reflecting a decrease in funds. A credit balance in an active account indicates an error has been made.
Passive accounts are accounts on which records are kept of the sources of formation of the enterprise's property (liabilities). Passive accounts are opened on the basis of liability items on the balance sheet. In a passive account, the balance or balance is always reflected in credit. A debit balance in a liability account indicates an error has been made. An increase in the organization's source of funds (an increase in the passive account) is reflected as a credit, and a decrease in the source of funds (a decrease in the passive account) is reflected as a debit. An increase in the value in the debit of a passive account leads to a decrease in the value in the credit of the account. The passive account on the credit (right) side reflects the initial and final balance, operations to increase the sources of property of the enterprise, and on the debit (left) side - operations reflecting a decrease in the sources of formation of property.
The location of the balance (in debit or credit of the account) depends on the location of the accounting object in the balance sheet. Assets are located on the left side of the balance sheet, therefore, asset account balances (and therefore increases) should be placed on the left side of the account, or debit. For liabilities, the opposite picture is evident: liabilities are located on the right side of the balance sheet, therefore, the balance in the liability accounts (and accordingly the increase) should be placed on the right side of the account, or on the loan. In Fig. Figure 5 shows a diagram for determining the balance for passive accounts.
The following rules for recording business transactions apply:
an entry on the same side of the account (left or right) on which the account is placed on the balance sheet increases the account balance;
An entry on the side (left or right) opposite the one on which the account is placed on the balance sheet reduces the balance of the account.
In addition to accounts with a debit or credit (one) balance, accounting uses accounts that have two balances: debit and credit at the same time. Such accounts are called active-passive. In active-passive accounts, two objects are taken into account: one relates to assets, the other to liabilities. The names of active-passive accounts in accounting usually begin with the word “Calculations...”
Active-passive accounts have two balances at the same time. Accounting accounts have an “expanded balance.” In terms of the formation of accounts receivable, these accounts work as active ones, while in the formation of accounts payable - as passive ones. Therefore, when drawing up a balance sheet, the debit balance is shown in the asset, and the credit balance is shown in the liability side of the balance sheet.
Active, passive and active-passive accounts are usually called balance sheet accounts, since they correspond to the asset and liability items of the balance sheet.
Business transactions in accounting accounts are reflected using double entry. Double entry is a method of reflecting the amount of a separate business transaction in at least two interrelated accounts: the debit of one account and the credit of another account.
Accounts affected in one business transaction using the double entry method are usually called correspondent accounts, and the connection between the accounts is called correspondence of accounts. If there is no such connection between the accounts, then it is customary to say about such accounts that they are not corresponding. The very recording of a business transaction on the accounting accounts or, in other words, the indication of the correspondence of accounts is called accounting entry or accounting entry.
Using double entry, the amount of each business transaction is reflected twice: as a debit to one account and a credit to another. In this case, the totals of debit turnovers of all accounts will be equal to the totals of credit turnovers of all accounts. The absence of such equality indicates a mistake. This is the double entry control value.
All accounting accounts are grouped into a single list containing names and account codes. It is called Chart of Accounts and is a systematic list of accounting accounts, which is based on the classification of accounts by economic content.
The instructions for using the Chart of Accounts provide a brief description of the accounts, reveal their structure and purpose, the economic content of the facts generalized on them, the procedure for recording the most common transactions, and also propose standard correspondence schemes for accounts.
In the Russian Federation, a single Chart of Accounts is proposed for use by all economic entities (except for credit and budget organizations). It contains the names and codes of the accounts. Account names indicate the objects being accounted for, and account codes are intended to make it easier to locate the account in accounting registers (records).
The chart of accounts is a strictly hierarchical structure, the basis of which is synthetic accounts(first-order accounts) and sub-accounts (second-order accounts). Synthetic accounts are located on the left, sub-accounts on the right. Subaccounts detail information about the accounted object.
Users, based on a unified Chart of Accounts, form Working chart of accounts indicating only those accounts that are necessary to account for the organization’s observation objects. Maintaining synthetic accounts and indicating their numbering are strictly mandatory, but the use of subaccounts in current accounting does not provide for such strict regulation. The working chart of accounts is reflected in the accounting policies. The accounting policy of an organization is understood as the set of accounting methods adopted by it - primary observation, cost measurement, current grouping and final generalization of the facts of economic activity.
The modern Chart of Accounts is divided into eight sections, combining 60 synthetic accounts:
Section I. Non-current assets.
Section II. Productive reserves.
Section III. Production costs.
Section IV. Finished products and goods.
Section V. Cash.
Section VI. Calculations.
Section VII. Capital.
Section VIII. Financial results.
The division of the Chart of Accounts into sections is based on the economic classification of accounting objects. Each section reflects economically homogeneous types of property, liabilities, funds, reserves and financial and economic processes. All synthetic accounts of the eight sections participate in the preparation of the balance sheet, which is why they are called balance sheet accounts. Accounting is carried out on balance sheet accounts according to the double entry principle.
A separate group consists of off-balance sheet accounts, consisting of 11 accounts. If in the economic activities of an organization there are accounting objects that do not affect the balance sheet indicators, but the impact of which is reflected in the results of operation, then these objects are recorded in off-balance sheet accounts. Accounting for off-balance sheet accounts is carried out using a single entry (simple entry).
Using the Chart of Accounts, users make accounting entries. Depending on the number of accounts involved in correspondence, simple and complex accounting entries are distinguished. IN simple wiring Only two accounting accounts are involved. IN complex wiring more than two accounts are involved. In this case, one account is debited (credited), and the others (corresponding to it) are credited (debited) with private amounts, ultimately giving the same total amount.
From the point of view of detailing information, accounting accounts are divided into synthetic and analytical. In synthetic accounts, objects of accounting observation are reflected in a generalized form in a monetary measure. Analytical accounts detail the generalized indicators of synthetic accounts and specify the objects taken into account.
Summary and more detailed information is necessary for enterprise management. Accounting carried out on synthetic and analytical accounts is called synthetic and analytical, respectively.
Synthetic accounts can be simple or complex. Indicators of simple synthetic accounts are not subject to further detail; analytical accounting is not carried out in their development.
Sub-accounts, which are second-order accounts, can be opened for complex synthetic accounts. In the Chart of Accounts they are located on the right.
On sub-accounts, as well as on synthetic accounts, accounting is carried out in monetary terms. Subaccounts are not analytical accounts; they detail the synthetic account, dividing it into economically homogeneous groups, i.e. subaccount is a way of grouping analytical accounts. The list of subaccounts is not strictly mandatory. It only indicates the directions in which the analytical accounting data should be grouped.
Indicators of complex synthetic accounts, when necessary, find their detail in analytical accounting. Analytical accounts use three types of meters: natural, labor and monetary (cost). Natural meters are designed to take into account objects in their natural and material form. The choice of a meter of this type depends on the physical properties of the objects taken into account: pieces, meters, kg, liters, etc.
Labor meters are designed to record labor costs in man-days, man-hours and are used in accounting to calculate wages for workers. Labor costs are recorded in time sheets.
The monetary measure is a general one; the basis for its calculation is labor and natural measures.
Analytical accounting is inextricably linked with synthetic accounting. The universal cost (monetary) meter allows you to compare and generalize various objects of accounting observation. Entries in analytical accounting are made on the basis of primary accounting documents (invoices, receipt orders, acceptance certificates, production reports, etc.), and entries in synthetic accounts are made on the basis of a set of analytical accounts opened in the context of a synthetic account. This means that the total totals of the analytical accounts must be equal to the totals of the synthetic account combining them.
Before reporting, all accounting information is first summarized in analytical accounts (turnovers are calculated, balances are displayed), and then synthetic accounts are generated based on the aggregate indicators of analytical accounts.
Synthetic and analytical accounting data are always related by the following equalities:
the amount of the balance at the beginning (end) of the month in analytical accounts is equal to the balance at the beginning (end) of the month in the synthetic account combining them;
the sum of monthly turnovers (debit or credit) of analytical accounts is equal to the sum of monthly turnovers (debit or credit, respectively) of the synthetic account combining them.
Violation of these equalities indicates an error. There are two types of turnover sheets for analytical accounting accounts:
quantitative-total, in which natural and cost indicators are used;
contractual, in which only the cost indicator is used.
Quantitative and total statements are compiled: for inventories, for finished products, for fixed assets and other property accounts. Contract accounts are compiled: for current accounts, for cash, for stock, etc. accounts. Turnover statements for analytical accounting accounts are compiled separately for each synthetic account in the context of which analytical accounting is maintained.
Depending on the form of accounting, accounting entries are recorded in various accounting registers (systematic, chronological, combined, synchronistic). In the classic accounting procedure, journal entries are transferred to Business transaction log(Table 2). This is a chronological accounting register, i.e. all facts of economic life are recorded in the journal as they occur in chronological order. The journal reflects the number of the business transaction in order, the date of completion, the content of the business transaction, the accounting entry (correspondence of accounts) and the amount. Moreover, the amount in the journal can be recorded once - the total amount according to the accounting entry, and if necessary, in order to reflect the analytical content of the total amount - private amounts are provided.
table 2
Business transaction log
Untitled document
Accounting |
Amount, rub. |
|||||
account debit |
credit |
|||||
At the end of the reporting period, for all entries recorded in the journal, the final turnover is calculated in the column “Total amount”, which has an important control value when comparing the results of processing accounting data.
At the end of the reporting period, debit and credit turnovers are calculated for each account and preliminary balances are displayed. Accounting activities performed on accounts belong to the General Ledger stage.
General ledger - a set of accounting accounts opened by an organization during the reporting period; the main part of the accounting information system, which reflects all objects of accounting supervision. The general ledger - this is a synthetic accounting register - is a systematic accounting register and is opened for a year. It displays account turnover and calculates the final balance (Table 3). Entries in the General Ledger begin with the reflection of the account balance. The left side of the General Ledger reflects the debit of the account in question in correspondence with the credit of the accounts corresponding to it, and the right side shows the credit turnover of the account in question.
Table 3
main book
Account No. “…………………………...”
Untitled document
To the debit of the account______ from the credit of the accounts |
Total |
Turnover |
||||||
Balance as of 1.01. ……G. |
||||||||
……………. |
||||||||
At the end of the reporting period, the turnover is displayed in the penultimate line and the balance is shown in the last line (for the active account - in the “Total” column on the left, for the passive account - in the “Total” column on the right). Balanceless accounts are closed, their debit and credit turnovers are necessarily equal, and there is no balance.
After filling out the general ledger accounts, the next stage of the accounting procedure begins - drawing up a trial balance in the form turnover sheet. The sheet can be simple or chess-shaped. A simple turnover statement for synthetic accounts is called a balance sheet (Table 4).
The turnover balance contains a list of all synthetic accounts of the Working Chart of Accounts. Each account is assigned a separate line, which indicates the opening balance, monthly turnover and ending balance for this synthetic account. This statement has three pairs of columns. With proper accounting, pairwise equality of the results of these columns should be achieved, namely: the total of debit opening balances should be equal to the total of credit opening balances, the total of debit turnover on synthetic accounts should be equal to the total of credit turnover on synthetic accounts, the total of final debit balances should be equal to the total of final credit balances balance.
Table 4
Turnover sheet for accounting accounts
The equality of the total balances of debit and credit accounts is due to the fact that the total of debit balances of the accounts shows the monetary value of the property (assets) of the enterprise, and the total of credit balances shows the monetary value of the sources of property (liabilities) of the enterprise. The equality of the results of debit and credit turnover on accounts follows from the essence of double entry, in which each business transaction is reflected in both debit and credit accounts in equal amounts.
Pairwise equality of the totals of the balance sheet has a control value. The absence of such equality indicates the presence of errors in the accounts that need to be found and corrected. Data from the balance sheet are used in preparing the balance sheet.
The turnover sheet for synthetic checkerboard accounts (Table 5) is constructed as follows.
The numbers of synthetic accounts are recorded horizontally and vertically. Then, from the Business Transactions Journal, the amounts that are reflected at the intersection of the corresponding rows and columns are transferred to the matrix in accordance with the correspondence of accounts. Debit turnovers are collected in a row, and credit turnovers in a column. Having calculated the totals of turnover, the final balance is determined: the debit balance is recorded in a row, and the credit balance in a column. In the lower right corner of the matrix, the total amounts of turnover and the initial and final balances are reflected.
By its structure, the balance sheet is a two-sided table, the left side of which is called an asset and reflects the economic assets of the enterprise, and the right side is called a liability and reflects the sources of formation of these funds. The fact that the assets and liabilities of the balance sheet contain data on the same property, but only in different groups, determines the equality of the results of the assets and liabilities of the balance sheet: formula" src="http://hi-edu.ru/e- books/xbook705/files/f0.gif" border="0" align="absmiddle" alt="P.
Table 5
Chess balance
Untitled document
Initial balance |
By debit |
||||||||||||||||
Balance |
|||||||||||||||||
Balance |
|||||||||||||||||
The main element of the balance sheet is balance sheet item, which corresponds to a specific type of property or source. Each line (item) of the balance sheet has its own serial number, which makes it easier to find. Groups of balance sheet items are combined into sections according to economic content.
In the modern form of the Russian balance sheet, five sections are distinguished (Table 6).
Table 6
Balance sheet
Untitled document
Line code |
At the beginning of the reporting period |
At the end of the reporting period |
Code |
At the beginning of the reporting period |
At the end of the reporting period |
||
Non-negotiable |
III. Capital and reserves |
||||||
II. Negotiable |
IV. long term duties |
||||||
V. Current liabilities |
|||||||
To reflect the state of funds and sources, the balance sheet provides two columns for digital indicators: at the beginning of the reporting period and at the end of the reporting period. The second column shows the state of funds and their sources as of the balance sheet date. The total amount for all sections of the asset (line 300 “Balance”) and the total amount for all sections of the liability (line 700 “Balance”) is called the balance sheet currency. If the total amount in the asset does not coincide with the total amount of the liability (i.e. there is no balance), then this is evidence of errors made in accounting and reporting of information. There cannot be more or less assets than the sources from which they were formed.
Vertical relationships between balance sheet asset items suggest their arrangement in order of increasing levels of their liquidity. The liquidity of an asset refers to its ability to be converted into money without significant losses. Less liquid items (intangible assets, fixed assets, etc.) are reflected first, and the most liquid ones (cash on hand, in a current account, etc.) at the end. In the liabilities side of the balance sheet, sources of property are arranged according to the principle of decreasing the period of their return (from equity capital to short-term liabilities).
Synthetic accounting accounts and the balance sheet are interrelated. Balance sheet items correspond to the names of accounting accounts. Like the sides of a balance sheet (asset and liability), accounts are divided into active and passive. Accounting accounts at the beginning of the reporting period are opened on the basis of balance sheet items with records of initial balances; at the end of the reporting period, a balance sheet is drawn up based on the ending balances on synthetic accounts.
Business transactions have a direct impact on the balance sheet. This influence leads to a change in either the value of asset items or liability items, or both at the same time.
Business transactions that cause a simultaneous change in both the composition of assets and liabilities are called modifications. The balance sheet currency either increases or decreases.
Business transactions that do not change the balance sheet currency are called permutations. As a result of permutations, redistribution occurs either in the composition of assets, but liabilities are not involved; or changes take place in liabilities while assets do not change.
There are four types of business transactions based on their impact on the amount of assets and liabilities of the balance sheet (Table 7).
I type of operation - two active accounts interact with each other (+A-A). As a result of the first type of business transaction, the balance sheet currency does not change, assets are redistributed, and liabilities do not change.
Type II operation - two passive accounts interact with each other (+P-P). As a result of the second type of operation, the balance sheet currency does not change, liabilities are redistributed, and assets remain unchanged.
III type of operation - active and passive accounts increase (+A+P). As a result of the third type of business transaction, the balance sheet currency increased, the assets and liabilities of the enterprise increased, but the equality of the balance sheet was not violated.
IV type of operation - both active and passive accounts decrease (-A -P). As a result of the fourth type of business transaction, the balance sheet currency decreased, the assets and liabilities of the enterprise decreased, but the equality of the balance sheet was not violated.
Table 7
Four types of business transactions
Operations of the first and second types are permutation operations, and operations of the third and fourth types are modification operations.
Data from primary documents is accumulated and systematized in accounting registers. After checking the primary document, its account assignment is made - recording an accounting entry on the document (in specially designated columns in the document or on the reverse side). After account assignment of the document, the accountant posts the transaction to the accounts (records the posting in the appropriate accounting registers). Accounting registers- these are data carriers of a certain form, adapted for recording and grouping information about business transactions using the double entry method. The results of the facts of economic life that took place over a certain period of time are transferred from accounting registers in grouped form to the financial statements.
Depending on the material basis, accounting registers are divided into paper and paperless. The classification of accounting registers is presented in table. 8.
The book is a numbered and laced register, sealed with the seal of the enterprise and the signatures of the manager and chief accountant. The pages of the book are laid out depending on the specifics of the objects of observation reflected in it. For example, cash book, general ledger, deposited wages book, etc.
Table 8
Classification of accounting registers
Untitled document
Cards are forms with a printed table intended for long-term use. They are subject to mandatory registration in a special register in order to monitor their safety. They are visual, easy to use and easy to sort. Examples are inventory cards for accounting for fixed assets, cards for quantitative and total accounting of materials, finished products, etc.
Sheets, just like cards, are forms with printed tables, but larger in size and the volume of information reflected in them. On the sheets, for example, they calculate depreciation by type of fixed assets, calculate the cost of finished products, etc.
Paperless accounting registers include accounting tables generated in computer memory, floppy disks, CDs, etc.
Contractual registers are intended for analytical accounting of the state of the enterprise's settlements with debtors and creditors.
Material registers are used to record the assets of an enterprise expressed in quantitative terms. For example, a quantitative statement.
Multigraph registers contain several columns designed to reflect the results of completed business transactions and are used mainly for cost accounting.
IN chronological In registers, the results of economic life facts are recorded as they arise (the journal of registration of business transactions).
IN systematic registers, business transactions are grouped according to certain accounting objects (cash book, balance sheet, general ledger accounts).
IN combined registers show signs of chronological and systematic recording, i.e. they simultaneously contain both a journal of chronological recording and General Ledger accounts. For example, the Journal book is the main one, the journals are orders.
Synchronistic registers - tables designed to reflect systematic or chronological and systematic records, having a multi-column form.
Based on the volume of information, accounting registers are divided into synthetic - General Ledger, journals - orders, and analytical - quantitative-total and account receivable statements, materials warehouse card, inventory cards for fixed assets, etc.
According to the Federal Law “On Accounting”, data from accounting registers is a commercial secret of the enterprise. Organizations are recommended to use standard forms of accounting registers in accounting.
Entries in accounting registers are made without errors, blots or corrections. If you need to make changes to your accounts, you can use one of the methods for correcting the accounting registers:
proofreading;
reversal posting;
additional wiring.
Correction method used to correct entries in primary documents (except cash and bank documents), if they have not yet been recorded in accounting registers. Also, the proofreading method is used to correct incorrectly recorded amounts in accounting registers in which totals are not summed up. The proofreading method involves crossing out the incorrect entry and writing the correct one.
Reversal entries(the “red reversal” method) are used in accounting registers to correct both correspondence of accounts and incorrectly recorded amounts for a business transaction. Reversal entries are used in registers before and after summing up the results. They are written in red (negative) ink. The procedure for correcting entries is as follows:
the incorrect entry is repeated in the same correspondence and amount in red ink. This indicates that the amount has become negative and must be subtracted when calculating revolutions;
make a correct positive entry of the transaction and amount in blue or black ink.
Additional posting method used when the posting is made correctly, and the amount of the business transaction is underestimated. This method consists of recording in the same correspondence accounts an amount equal to the amount of the error made. The method of additional entries is used in accounting registers before and after summing up the results.
The structure of accounting registers used in accounting, their relationship, sequence and methods of recording business transactions in them are determined by the form of accounting.
Accounting form - This is a set of accounting registers for reflecting business transactions in a certain sequence and grouping.
The organization independently determines the form and technology for processing accounting information. Accounting forms are necessarily consistent with the stages of the classical accounting procedure. Under accounting procedure is understood as a logically consistent, strict sequence of accounting actions to reflect information in the process of registration, accumulation and processing of accounting data. Familiarization with the accounting procedure involves distinguishing accounting actions performed simultaneously at the time of creation of the organization (registration of statutory documents) and current accounting actions carried out in each reporting period. The procedure includes inventory, opening balance, journal, general ledger, turnover sheet and closing balance.
During the period of registration of statutory documents, accounting begins - an opening (organizational) balance sheet is built. The initialization of accounting of an economic entity coincides in time with the date of registration of the Charter. The opening (organizational) balance sheet, in accordance with the principle of continuity of accounting, must be built according to the registration document - the Charter. At the stage of the organizational period, the duality equation has a simplified form: Assets = Owners' capital.
In this formula, there are no obligations of the organization to second and third parties, since at this point in time financial and economic activities have not yet been carried out, accounts payable have not been formed, and the receivables of the founders for contributions to the authorized capital have been formed.
Thus, the opening balance is based on two inventories (inventories - list of assets):
The first inventory is the inventory of property contributed by the owners as contributions to the authorized, share, share and similar capital.
The second inventory is an inventory of obligations of enterprise participants (accounts receivable) for the remaining unpaid portion of contributions.
The balancing indicator of the duality equation is the owner's capital, equal in value to the advanced capital declared in the Charter. In each reporting period, based on balance sheet indicators at the beginning of the reporting period, permanent accounts with an explicit balance are opened (asset indicators form a block of active accounts, liability indicators form a block of passive accounts). Next, business transactions are recorded in chronological order and systematized. The Registration Journal, General Ledger, and Balance Sheet are compiled. Based on the turnover sheet, a closing balance.
Debit balances are recorded as assets on the balance sheet, and credit balances as liabilities. In the final balance sheet, the indicators of the main and regulating accounts are shown in one line in total. Next, the total indicators for the sections of the balance sheet are determined and the balance sheet currency is summed up, which must be compared with the same indicator in the turnover sheet.
The balance sheet is the main document of accounting financial statements. Financial statements- a unified system of data on the property and financial position of the organization and the results of its economic activities, compiled on the basis of accounting data in established forms.
The financial statements consist of a balance sheet (Form No. 1), a profit and loss statement (Form No. 2), appendices thereto and an explanatory note, as well as an auditor’s report confirming the reliability of the organization’s financial statements, if they are subject to mandatory reporting in accordance with Federal Laws. audit.
Accounting statements must provide a true and complete picture of the financial position of the organization, the financial results of its activities and changes in its financial position.
Financial statements prepared on the basis of the rules established by regulatory acts on accounting are considered reliable and complete. The balance sheet must characterize the financial position of the organization as of the reporting date. The profit and loss statement must characterize the financial results of the organization for the reporting period. Explanations to the balance sheet and income statement should disclose information related to the accounting policies of the organization and provide users with additional data that is not appropriate to include in the balance sheet and income statement, but which is necessary for users of the financial statements to realistically assess the financial position of the organization , its financial results of operations and changes in its financial position. Explanations to the balance sheet and profit and loss statement disclose information in the form of separate reporting forms (cash flow statement, statement of changes in equity, etc.) and in the form of an explanatory note. Accounting statements are open to users - founders (participants), investors, credit institutions, creditors, buyers, suppliers, etc.
N.N. Shulga
Accounting
Publishing house
Belgorod University
economics, cooperation and law
AUTONOMOUS NON-PROFIT ORGANIZATION
HIGHER PROFESSIONAL EDUCATION
"BELGOROD UNIVERSITY
COOPERATION, ECONOMY AND LAW"
N.N. Shulga
Accounting
For students of the Faculty of Secondary
vocational education
specialty 100105.51 “Hotel service”
university council
Publishing house
Belgorod University
economics, cooperation and law
Shulga Natalya Nikolaevna, Candidate of Economic Sciences, Associate Professor of the Department of Accounting, Belgorod University of Cooperation, Economics and Law
Reviewer
Novoseltseva Svetlana Nikolaevna, Candidate of Economic Sciences, Associate Professor, Belgorod University of Cooperation, Economics and Law
A collection of assignments for independent work of students on the main topics of the discipline “Accounting”, intended for 2nd year students of the Faculty of Secondary Vocational Education, full-time study in specialty 100105.51 “Hotel Service”.
INTRODUCTION
The discipline “Accounting” belongs to the general professional cycle in the structure of the main professional educational program.
This discipline involves the study of the general fundamentals of accounting, its role and place in the system of economic information and management, basic theoretical accounting concepts and principles of accounting organization, as well as accounting techniques in specific areas of organizations.
In the process of studying this discipline, the student must know the subject and method of accounting, accounting accounts, methodological, regulatory and other guidance materials on the organization of accounting and reporting in organizations, be able to work with primary documents and accounting forms, reflect and classify various business transactions in process of the enterprise's activities, know the contents and construction of accounting registers, which reflect the grouping of data according to accounting accounts, accounting forms, the subject, method and technique of accounting, document and reflect on accounting accounts transactions related to the movement of fixed assets, inventory -material assets and cash, conduct an inventory of material assets and draw up its results.
This collection was developed for the purpose of methodological support for extracurricular independent work in the discipline “Accounting” for specialty 100105.51 “Hotel Service” of the Faculty of Secondary Vocational Education.
ORGANIZATION AND MANAGEMENT OF STUDENTS' EXTRA-CLASSROOM INDEPENDENT WORK
Independent work is one of the types of educational activities for students. In the educational process of the Faculty of Secondary Vocational Education, there are two types of independent work:
1) classroom;
2) extracurricular.
In-class independent work on the discipline is carried out during training sessions under the direct supervision of the teacher and on his instructions.
Extracurricular independent work is carried out by the student on the instructions of the teacher, but without his direct participation.
Independent work of students is carried out with the aim of:
systematization and consolidation of the acquired theoretical knowledge and practical skills of students;
deepening and expanding theoretical knowledge;
developing the ability to use regulatory, legal documentation and special literature;
development of cognitive abilities and activity of students;
formation of independent thinking.
Types of assignments for extracurricular independent work can be:
to acquire knowledge: reading the text (textbook, primary source, additional literature): drawing up an outline of the text; graphic representation of the text structure; taking notes of the text; extracts from the text; work with dictionaries and reference books, familiarization with regulatory documents; educational and research work; use of audio and video recordings, computer equipment and the Internet, etc.;
to consolidate and systematize knowledge: working with lecture notes (text processing); repeated work on educational material (textbook, primary source, additional literature, audio and video recordings); drawing up a plan and abstract of the answer; compiling tables to systematize educational material; study of regulatory materials; answers to security questions; preparing messages for presentation at a seminar; preparation of abstracts, reports; compiling thematic crosswords; testing, etc.;
to develop skills: solving problems and exercises according to the model; solving variable problems and exercises; performing calculation and graphic work; solving situational production (professional) problems; preparation for business games; design and modeling of various types and components of professional activity, etc.
While students are performing extracurricular independent work and if necessary, the teacher can conduct consultations at the expense of the total budget of time allocated for consultations.
Independent work can be carried out individually or in groups of students, depending on the purpose, volume, specific topic of independent work, level of complexity and skill level of students.
Monitoring the results of students’ extracurricular independent work can be carried out within the time allotted for compulsory training sessions in the discipline and students’ extracurricular independent work in the discipline, and can take place in written, oral or mixed form, with the presentation of a product or product of the student’s creative activity. Seminars, colloquiums, tests, testing, self-reports, tests, defense of creative works, etc. can be used as forms and methods of monitoring students’ extracurricular independent work.
The criteria for assessing the results of a student’s extracurricular independent work are: the student’s level of mastery of educational material; the student’s ability to use theoretical knowledge when performing practical tasks; development of general educational skills; validity and clarity of the response; design of material in accordance with requirements.
SECTION 1. THEORETICAL FOUNDATIONS OF ACCOUNTING
TOPIC 1.1. REGULATORY REGULATION OF ACCOUNTING IN THE RUSSIAN FEDERATION, FEDERAL LAW “ON ACCOUNTING”
Exercise 1.
Determine what level of regulatory regulation of the accounting system each document belongs to (Table 1).
Present the solution to the problem in Table 2.
Table 1
| Document's name | Accepted by whom, document details |
| Federal Law of the Russian Federation “On Accounting” | Federal Law of November 21, 1996 No. 129-FZ. Adopted by the State Duma of the Federal Assembly of the Russian Federation dated February 23, 1996 |
| Instructions for using the Chart of Accounts for accounting financial and economic activities of organizations | Order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n |
| Civil Code of the Russian Federation (part three) | dated November 26, 2001 No. 146-FZ |
| Guidelines for inventory of property and financial obligations | Order of the Ministry of Finance of the Russian Federation dated June 13, 1995 No. 49 |
| Inventory schedule | Order of the general director of the organization dated January 5, 2011 No. 12-z |
| Accounting Regulations “Accounting Statements of an Organization” PBU 4/99 | Order of the Ministry of Finance of the Russian Federation dated July 6, 19999 No. 43n |
| Accounting Regulations “Accounting for Income Tax Calculations” PBU 18/02 | Order of the Ministry of Finance of the Russian Federation dated November 19, 2002 No. 114n |
| Guidelines for accounting of inventories | Order of the Ministry of Finance of the Russian Federation dated December 28, 2001 No. 119n |
table 2
Task 2.
Study the Federal Law “On Accounting”, make a summary according to the plan:
1. Basic concepts of accounting.
2. The procedure for regulating accounting in business entities.
3. Organization of accounting.
Task 3.
1. General Provisions.
2. Accounting requirements.
1. The third level of the accounting regulatory system consists of:
a) instructions;
b) standards (Accounting Regulations);
c) legislative acts;
d) a set of documents of the organization.
2. General methodological guidance of accounting in Russia is carried out:
a) the Ministry of Finance of the Russian Federation;
b) the Government of the Russian Federation;
c) tax office;
d) The Central Bank of the Russian Federation.
3. Accounting in the Russian Federation is regulated by a regulatory system:
a) single-level;
b) two-level;
c) three-level;
d) four-level.
4. International financial reporting standards are called:
a) a system of organizational and methodological aspects of tax accounting developed by professional international organizations;
b) a set of rules for maintaining management accounting, developed by professional international organizations and mandatory for use in world practice;
c) a set of rules, methods, and accounting procedures developed by professional international organizations and recommended for use in world practice;
d) accounting standards developed for use within the country.
5. In what units of measurement are accounting records kept in Russia:
a) monetary units;
b) conventional units;
c) natural meters.
Answers
| A | A | G | V | A |
1. On accounting: Federal Law of November 21, 1996 No. 129-FZ (as amended on November 3, 2006) // Information
Help system Consultant Plus: VersionProf.
2. Regulations on accounting and financial reporting in the Russian Federation. Approved by order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n (as amended on September 18, 2006) // Information and reference system Consultant Plus: VersionProf.
3. Accounting: Textbook for SPO /ed. V.M. Bogachenko, Rostov-on-Don: Phoenix, 2007.- 480 p.
4. Ivanova N.V. Accounting: textbook for secondary professionals. education / Ivanova N.V. - M.: Academy, 2005. - 302 p.
Exercise 1.
Determine what type of accounting was used to obtain the information below. The decision should be presented in Table 3.
1. Gross national product for the year.
2. The volume of services provided by the organization for the reporting year (thousand rubles).
4. Autoresponder message to the chief accountant about the lateness of the deputy chief accountant.
5. Report on fuel supplies for the last day.
6. The amount of funds for remuneration of the organization’s management personnel for the year.
7. Total volume of capital investments.
8. The amount of advance payment for the goods based on the invoice transmitted by fax.
9. The sum of all advances received from customers for the month.
10. Actual cost of sales of products (works, services) of the organization for the first half of the year.
11. Amount of depreciation for the month.
13. Average market value of services provided by the organization in the current reporting period.
14. An entry in the work book about awarding an employee of the organization with a certificate of honor.
15. Amount of dividends on preferred shares for the reporting year.
16. The average number of ordinary shares of an open joint stock company in circulation per year.
17. Availability and movement of material assets in the organization’s central warehouse for the current month.
18. The rental period for the organization of a VAZ-2110 passenger car.
19 The total amount of value added tax to be transferred to the budget.
20. The total number of employees of the organization who received preferential vouchers for sanatorium and resort treatment during the summer health period.
21. The amount of other income and expenses of the organization for the first half of the current year.
22. The amount of the organization’s net assets as of the reporting date.
24. Revenue (net) from the sale of goods, products, works, services (minus VAT, excise taxes and other similar payments to the budget) for the current month.
Table 3
Task 2.
Prepare reports on the history of accounting.
Approximate topics of messages on the topic:
1. Periods of development of accounting.
2. Ancient accounting: what it was like.
3. The emergence and development of double-entry bookkeeping, its expansion in Europe.
4. Luca Pacioli and his “Treatise on Accounts and Records.”
5. The evolution of accounting in Russia.
Task 3.
Determine which elements of the accounting method should be used to record the listed business transactions. The solution to the problem should be presented in Table 4.
1. Receipt of finished products to the warehouse.
2. Receipt from the buyer of the advance payment for the finished product.
3. Determination of finished product balances in the warehouse.
4. Drawing up a statement of reconciliation of payments with the supplier of raw materials.
5. Drawing up a balance sheet.
6. Receipt of a batch of materials from the supplier.
7. Payroll for employees.
8. Determination of the value of all property of the organization as of January 1 of the reporting year.
9. Payment of wages to employees.
10. Calculation of the amount of net profit for the reporting year.
11. Filing a claim with the arbitration court to collect a fine from the debtor for late payment for products.
12. Release of finished products and production.
13. Calculation of corporate income tax based on the results of activities.
14. Calculation of the cost of finished products.
15. Preparation of a cash flow statement.
16. Drawing up an explanatory note to the annual financial report.
17. Calculation of the amount of depreciation of fixed assets for the current month.
18. Determination of the amount of VAT to be transferred to the budget in the current month.
19. Cost measurement of the amount of work in progress at the end of the current month.
Table 4
Test tasks for self-control
1. Statistical accounting is:
d) a system for generating information for current operational management.
2. Operational accounting is:
a) a system for quick and timely reflection of business processes in order to influence them;
b) a system of continuous, continuous and documentary reflection of the organization’s economic activities;
c) a system of quantitative and qualitative reflection of mass phenomena and business transactions;
d) a system for generating information for internal and external users.
a) Benedetto Cotrugli;
b) Luca Pacioli;
c) Bastiano Venturi;
d) Domenico Mancini.
4. Natural meters provide information about the organization’s property:
a) in units of time;
b) count, measure, weight;
c) in valuation;
d) in production standards.
5. Monetary meters provide information about the organization’s property:
a) in units of time;
b) account;
c) in valuation;
d) measure, weight.
Answers
| V | A | b | b |
3. Malkova T.N. Ancient accounting: what was it like? – M.: Finance and Statistics, 1995.- 304 p.
4. Sokolov Ya.V., Sokolov V.Ya. History of accounting: Textbook. – M.: Finance and Statistics, 2004. - 272 p.
5. The theory of accounting: Textbook for secondary vocational education / ed. E.A. Mizikovsky. - M.: Economist - M, 2005. - 399 p.
TOPIC 1.3. CHART OF ACCOUNTS, ESSENCE OF DOUBLE ENTRY METHOD, ORDER OF ENTRY ON ACCOUNTS
Exercise 1
Using data on the organization’s property and sources of its formation as of the beginning of the reporting period (Table 5):
1) open accounting accounts;
2) post the balances of property to the accounts at the beginning of the reporting period;
3) reflect business transactions for the period (table 6) on the accounting accounts;
4) display account balances at the end of the reporting period.
Table 5
Table 6
| List of business transactions for the reporting period | Amount, thousand rubles |
| Cash received from the current account | |
| The amount of income tax debt was transferred from the current account | |
| The amount of debt of the accountable person is deposited into the cash register | |
| The amount of the loan provided for 10 years was transferred to the current account | |
| Steel released for production | |
| Wages paid to workers for manufacturing products | |
| Issued in cash | |
| Salaries paid from the cash register | |
| Part of the funds from the cash register was deposited into the current account | |
| Depreciation of the plant management building has been calculated | |
| Depreciation has been accrued for the inter-shop pipeline for steam supply | |
| Finished products released from production |
Test tasks for self-control
1. The system of accounts is:
a) a method of operational control over business operations;
b) subsequent control over business transactions;
c) economic grouping of accounting objects;
d) economic grouping, current reflection and operational control over the organization’s property and business operations.
2. Off-balance sheet accounts are intended for:
a) accounting for assets that do not belong to this organization;
b) accounting for own and leased assets;
c) reflecting events and transactions that do not currently affect the balance sheet of this organization, as well as for accounting for assets accepted for safekeeping, processing, commission, or lease;
d) accounting for particularly valuable assets.
3. Account debit is:
a) the right side of the counting table;
b) the left side of the counting table;
c) the amount of entries in the account for the month;
d) balance of funds.
4. Active accounts are intended for accounting:
a) property;
5. Accounts for accounting are called passive:
a) property;
b) sources of formation of property;
c) property and sources of its formation;
d) results of financial and economic activities.
Answers
| G | V | b | A | b |
1. Accounting: Textbook for SPO /ed. V.M. Bogachenko, Rostov-on-Don: Phoenix, 2007.- 480 p.
2. Ivanova N.V. Accounting: textbook for secondary professionals. education / Ivanova N.V. - M.: Academy, 2005. - 302 p.
3. The theory of accounting: Textbook for secondary vocational education / ed. E.A. Mizikovsky. - M.: Economist - M, 2005. - 399 p.
Exercise 1
Based on the initial data (Table 7), carry out a balance sheet summary of information about the property, equity and liabilities of Salut LLC.
Table 7
Composition of property and sources of its formation
| No. | Names of property and its sources | Amount, rub. |
| Fixed assets | 1 235 000 | |
| Cash in the current account | 450 000 | |
| Debt to suppliers and contractors | 305 000 | |
| Authorized capital | 1 250 000 | |
| Short-term financial investments | 150 000 | |
| Debt on short-term bank loans | 200 000 | |
| retained earnings | 420 000 | |
| Raw materials | 250 000 | |
| Debt of buyers and customers | 190 000 | |
| Cash in the cash register | 10 000 | |
| Debt to personnel for wages | 220 000 | |
| Costs in work in progress | 110 000 |
The solution is presented in Table 8.
Table 8
Balance sheet
Test tasks for self-control
1. The balance sheet is intended to reflect:
a) the state of assets and liabilities at the reporting date;
b) movement of economic assets during the reporting period;
c) results of financial and economic activities;
d) property rights.
2. The balance sheet is a generalized reflection and economic grouping of the property of an economic entity:
a) in monetary value according to their types and sources of education as of a certain date;
b) in monetary value according to their types and sources of education for a certain period of time;
c) on a certain date in natural value terms;
d) in natural material form.
3. What is reflected in the balance sheet asset?
a) cash and liabilities;
b) non-current and current assets;
c) non-current and current assets;
4. What is reflected in the liability side of the balance sheet?
a) equity and cash;
b) non-current assets and liabilities;
c) accounts receivable and accounts payable;
d) equity and liabilities.
5. The balance sheet currency is:
a) funds in a foreign currency account;
b) balance sheet item;
c) the result of the balance sheet section;
d) totals of assets and liabilities of the balance sheet.
Answers
| A | A | V | G | G |
1. Accounting: Textbook for SPO /ed. V.M. Bogachenko, Rostov-on-Don: Phoenix, 2007.- 480 p.
TOPIC 1.5. DOCUMENTATION OF BUSINESS OPERATIONS AND REQUIREMENTS FOR ACCOUNTING DOCUMENTS
Exercise 1
Study the “Regulations on accounting and financial reporting in the Russian Federation”, draw up a summary according to the plan:
1. Documentation of business transactions.
2. Accounting registers.
Task 2
Open and fill out the order journal No. 1 and statement No. 1 for the month based on the cashier’s reports (Tables 9 - 11).
Table 9
Cashier's report for 01/06/2011
Table 10
Cashier's report for 01/09/2011
Table 11
Cashier's report for 01/15/2011
Test tasks for self-control
1. Accounting registers according to their purpose are divided into:
a) synthetic, analytical, combined;
b) systematic and analytical;
c) synthetic and chronological;
d) chronological and analytical.
2. The document “cash expense order” in the order of preparation is:
a) primary;
b) acquittal;
c) one-time;
d) internal.
3. At what point is the primary accounting document drawn up:
a) at the moment of transfer of ownership of the goods;
b) at the time of the transaction;
c) at the time of conclusion of the contract between the parties;
d) at the time the transaction is reflected in the accounting accounts.
4. To correct text errors in an accounting document, use the following method:
a) punctation;
b) additional entry;
c) proofreading;
d) samples.
5. The process of movement of a document from the moment of its preparation to its delivery to the archive is called:
a) documentation;
b) office work;
c) document flow;
d) registration.
Answers
| A | A | b | V | V |
1. Regulations on accounting and financial reporting in the Russian Federation. Approved by order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n (as amended on September 18, 2006) // Information and reference system Consultant Plus: VersionProf.
2. Accounting: Textbook for SPO /ed. V.M. Bogachenko, Rostov-on-Don: Phoenix, 2007.- 480 p.
3. Ivanova N.V. Accounting: textbook for secondary professionals. education / Ivanova N.V. - M.: Academy, 2005. - 302 p.
Exercise 1
Draw up an order to conduct an inventory, an act of inventory of cash, in accordance with the current form. Choose the data to fill in yourself.
Test tasks for self-control
1. Inventories according to the coverage of accounting objects are divided into:
a) full;
b) planned;
c) partial and complete;
d) sudden.
2. The result of the inventory, reflecting the excess of the actual availability of values over the accounting data, is:
a) shortage;
b) surplus;
c) compliance;
d) re-grading.
3. What accounting entries are made on the accounting accounts if, during the inventory of funds in the cash register, a surplus of funds is identified and capitalized:
a) Debit account 50 “Cash” Credit account 83 “Additional capital”;
b) Debit account 50 “Cash” Credit account 91 “Other income and expenses” subaccount 1 “Other income”;
c) Debit account 50 “Cash” Credit account 68 “Calculations for taxes and fees”;
d) Debit account 94 “Shortages and losses from damage to valuables” Credit account 50 “Cash”.
4. The identified shortage of inventories is reflected in accounting by the entry:
a) Debit account 16 “Deviation in the cost of material assets” Credit account 10 “Materials”;
b) Debit account 94 “Shortages and losses from damage to valuables” Credit account 10 “Materials”;
c) Debit account 90 “Sales” Credit account 10 “Materials”;
d) Debit account 15 “Procurement and acquisition of material assets” Credit account 94 “Shortages and losses from damage to valuables”.
5. Inventory when the inventory commission is incomplete:
a) is allowed;
b) is not allowed.
Answers
| V | b | b | b | b |
1. Accounting: Textbook for SPO /ed. V.M. Bogachenko, Rostov-on-Don: Phoenix, 2007.- 480 p.
2. Ivanova N.V. Accounting: textbook for secondary professionals. education / Ivanova N.V. - M.: Academy, 2005. - 302 p.
Exercise 1
Familiarize yourself with the contents of Brief instructions on the use and completion of primary accounting forms for hotels in the Russian Federation (Order of the Ministry of Finance of Russia dated December 13, 1993 N 121 “On approval of forms of strict reporting documents”). Make a summary.
Test tasks for self-control
1 . The cash report (Form No. 5-G) is drawn up in:
a) one copy;
b) two copies.
2. The accounting employee checks Form No. 5-G with the forms:
a) 3-G, 3-Gm;
3. What document is to be filled out when issuing a refund to a guest leaving the hotel early:
a) act of damage to hotel property (form No. 9-G)
b) receipt for refund (form No. 8-G)
c) calculations of payment for reservations and accommodation by bank transfer (form No. 7-G).
4. The receipt for the provision of additional paid services (Form N 12-G) is a strict reporting form:
a) yes; b) no.
5. The registration log of foreign citizens (form N 2-G) is filled out:
a) an administrator on duty or a service bureau employee;
b) duty administrator;
c) by a foreign citizen independently.
Answers
| b | A | b | A | A |
1. On approval of forms of strict reporting documents. Order of the Ministry of Finance of the Russian Federation dated December 13, 1993 N 121 // Information and reference system Consultant Plus: VersionProf.
Exercise 1
Study the Regulation of the Bank of Russia dated October 12, 2011 No. 373-P
“On the procedure for conducting cash transactions with banknotes and coins of the Bank of Russia on the territory of the Russian Federation.”
Task 2
Using the data in Table 12, draw up an advance report for the accountable person based on supporting documents.
Accounting is a system of observation, measurement, registration of facts and phenomena related to any activity.
The need to keep records arose in the early stages of the development of human society. It was human economic needs that contributed to the development of accounting. At first, the objects of accounting were simple operations related to agriculture, cattle breeding, etc. The establishment of accounting in the economy contributed to the development of writing and mathematics, since it is impossible to conduct a farm without measuring, weighing and counting. With the development of society, economic accounting also developed. From accounting for a separate economy, it has turned into a complex system that permeates the entire economy of the country. Its role increases as activities become more complex and the scale of production increases. Needles B., H. Anderson, D. Caldwell “Principles of Accounting”, M.; "Finance and Statistics", 2004, P. 57.
Accounting is carried out daily not only on a national scale, but also at every enterprise, in every division, even in every family. And if accounting is, first of all, the registration of facts and events, then the assessment of these facts implies their quantitative and qualitative measurement. For this purpose, several types of meters are used in accounting: natural, labor and monetary (Fig. 1.1).
Natural meters characterize accounting objects by mass, length, area, quantity. Tones, kilograms, meters, pieces, etc. are used as natural meters. With their help, quantitative accounting of manufactured products, received inventory items, etc. is maintained.
Rice. 1.1. Types of business accounting measures Needles B., H. Anderson, D. Caldwell “Principles of Accounting”, M.; "Finance and Statistics", 2004, P. 59
Natural meters are used, as a rule, for homogeneous objects.
Labor meters allow you to keep track of labor expended and are expressed in units of time, for example, working days, hours, minutes. Labor meters are used to record labor productivity, production standards, and payroll calculations.
Monetary measures are universal and generalizing. Through monetary measures, all economic processes and objects that were expressed in natural and labor measures are represented. In the Russian Federation, national monetary units - rubles and kopecks - are used as monetary measures.
1.2. Types, role and tasks of accounting
The solution to the problems facing modern accounting is provided by three types of economic accounting: operational, statistical and accounting (Fig. 1.2). Each of them performs its own tasks and has its own scope of application, but they are interconnected and complement each other.
Operational accounting is used for daily, current management and management of the enterprise and provides information about individual facts of economic activity. Operational accounting includes, for example, recording of working hours, product shipments, etc. Such data can be obtained from primary documents, schedules, by telephone, fax or oral conversation. Operational accounting is not constant over time, since the need for it arises as needed.
The scope of application of statistical accounting can be a separate enterprise, a sector of the economy and the entire economy as a whole. Statistical accounting, or statistics, studies phenomena that are widespread in the field of economics, science, culture, education, etc. This accounting makes extensive use of sampling and recording methods. Information obtained as a result of statistical research helps to analyze various processes and predict their further development Rakhmat Z., Sheremet A. “Accounting in a market economy”, M.; "INFRA-M", 2006, p. 32.
Rice. 1.2. Types of economic accounting Needles B., H. Anderson, D. Caldwell “Principles of Accounting”, M.; "Finance and Statistics", 2004, P. 75
Accounting occupies a special place in the economic accounting system and, unlike other types of accounting:
· strictly documented - the basis for any accounting entry must be a specially executed document;
· is continuous and continuous in time, since when maintaining accounting records it is necessary to record all facts of economic activity without exception;
· reflects all objects and business transactions in addition to natural and labor measures in a single monetary value;
· carried out at any enterprise carrying out economic activities, i.e. it is limited to the framework of a single enterprise;
· carried out by a special service of the enterprise - accounting;
· strictly regulated by legislative and regulatory documents.
Thus, accounting collects, registers and summarizes information about the economic activities of an enterprise through continuous, continuous and documentary accounting of all business transactions in a single monetary measure.
Accounting plays a major role in the enterprise management system. Market relations confront enterprises with the need to justify each of their steps. To do this, the management of the enterprise must have objective and complete information about actual costs, the cost of manufactured products, profits received and other factors that affect the economic processes and results of the enterprise. To collect and process such information, the enterprise uses accounting.
The Federal Law “On Accounting” dated November 21, 1996 No. 129-FZ formulates the main tasks that accounting faces at the present stage of development of economic relations.
These tasks include:
· generation of complete and reliable information about the organization’s activities and its property status, necessary for internal users of financial statements - managers, founders and owners of the organization’s property, as well as external ones - investors, creditors, etc.;
· providing information necessary for internal and external users of financial statements to monitor compliance with the legislation of the Russian Federation when the organization carries out business operations and their feasibility, the availability and movement of property and liabilities, the use of material, labor and financial resources in accordance with approved norms, standards and estimates ;
· preventing negative results of the organization’s economic activities and identifying internal reserves, ensuring its financial stability Kondrakov N.P., Ivanova M.A. Management Accounting: Textbook. - M.: INFRA-M, 2003, P. 101.
There are two main functions that accounting performs in the enterprise management system:
1. informational;
2. control.
The information function is one of the main functions of accounting. And this is understandable, since accounting is the intersection of information flows in an enterprise. It is here that all data on economic activities from different divisions and services of the enterprise is collected, and an overall picture of the state of affairs of the enterprise is formed. All future activities of the enterprise depend on how prompt, complete and accurate the information about resources, income, liabilities, and profits is. Without such information, it is impossible to solve current problems, much less make plans for the future.
The control function is no less important in accounting. Since accounting reflects all business transactions without exception in a single monetary value, this makes it possible to take into account and control the use of the enterprise’s economic assets and rationally manage them. It is these properties of accounting that make it possible to reflect all changes, both positive and negative, occurring in business activities. The control function allows you to prevent and suppress misuse and abuse, comply with saving regimes, rationally use material and labor resources, and preserve property. In this regard, we can say that the control function of accounting helps to increase the profitability of enterprises.
The rational organization of accounting should be understood as a system of elements and means for the most optimal construction of the accounting process in order to obtain reliable, timely and useful information for management about the activities of the organization and to monitor the efficiency of the use of production resources.
The main elements and means of the accounting organization system are: working chart of accounts; accounting registers; primary accounting documents, internal accounting reports; document flow; use of mechanization and automation of accounting; structure and organization of the accounting apparatus and definition of the functions it performs.
Each business transaction, from an accounting point of view, represents a clearly defined moment in time and space of a fact of economic life or an economic event.
Therefore, for the effective functioning of the accounting process in the organization’s management system, it is necessary to observe the following principles: continuity of the process, accuracy of information, rhythm of accounting work, parallel performance of accounting work, provision of information, specialization and cooperation in the performance of accounting work.
Continuity over time makes it possible to comprehensively evaluate any accounting object for a certain period of activity of the enterprise. It is ensured by performing accounting work in accordance with the document flow schedule and the distribution schedule of responsibilities between performers of accounting work according to the spatial hierarchy.
The objectives of accounting are:
Formation of reliable, complete and timely information on completed business transactions for the acquisition and use of property by an economic entity, its obligations
Prevention and neutralization of unproductive losses at all stages of the circulation of economic assets, regardless of the reasons for their occurrence
Providing users with the necessary information that meets the requirements of current legislation about all areas of activity of an economic entity
Timely and complete presentation of high-quality reporting to internal and external users of accounting information on the financial performance of an economic entity and its financial position, as well as its position in the relevant market for goods, works or services
The results of an enterprise's activities are expressed in the sum of its income and expenses, and its financial position - in the form of allocation of assets, liabilities, as well as equity and borrowed capital.
For the rational organization of accounting it is necessary: to study the enterprise, laws, instructions and other regulatory documents on accounting and reporting; establish the most rational relationship between departments and accounting; determine the nature and volume of accounting information; rationally distribute labor between accountants.
When studying an enterprise, it is necessary to establish its organizational and legal form, organizational structure and management structure, determine the presence of various types of production (main, auxiliary, etc.) and types of economic activities, as well as the presence of structural divisions and branches. The organizational and technological features of the enterprise are also subject to study. All these aspects have a significant impact on the organization and construction of the accounting process, in particular on the choice of the working chart of accounts, other organizational, methodological and technical aspects of accounting when developing and adopting the organization’s accounting policies.
Cash- organizations on current and other bank accounts. They are used to make settlements with suppliers and buyers, with banks and financial authorities through non-cash transfers. Small amounts of cash may be kept in the organization's cash register within the established limit.
Funds in settlements- these are the debts of other organizations or individuals to a given economic entity. Such debt is called receivable, and the debtors themselves are called debtors. Accounts receivable arises as a result of existing forms of payment for products, works and services in the case when their transfer to the buyer reflects payments for them. Debtors can also be employees of the organization; are called accountable persons.
As part of current assets, abstracted assets are also distinguished. They can be represented by short-term financial investments and losses. Losses is the loss of assets as a result of poor management or natural disasters. This part of the assets is completely removed from economic circulation. However, each enterprise has established control over losses based on the time of their occurrence and the procedure for covering them. The grouping of assets by type is presented in Fig. 1.1.
Long-term and current assets, in turn, are divided as follows:
The economic resources (assets) of an economic entity are formed by attracting various sources, therefore it has obligations to organizations and individuals who provided their assets for temporary use.
Depending on the mechanism of formation and use of liabilities, they are distinguished: equity capital and attracted capital.
Equity- the most important source of formation of farm assets. It includes authorized capital, additional capital, reserve capital, retained earnings, and targeted financing.
Authorized capital (share capital, authorized capital)- initially invested capital. It is understood as the value of property contributed by the owners or shareholders (participants) at the time of creation of an economic entity (contributions of founders, value of fixed assets, intangible and other assets) necessary to ensure its statutory activities. The authorized capital may change.
Extra capital- the organization’s own capital, formed as a result of additional contributions by the owners of funds in excess of the registered authorized capital, changes in the value of assets.
Reserve capital (fund) is formed from part of the organization's profit and is used to cover losses resulting from emergency circumstances, payment of dividends and income in case of insufficient profit.
retained earnings- part of the organization’s profit remaining at its disposal as a source of financing.
Reserves for future expenses are created by organizations in order to evenly include in the expenses of the reporting period the costs of paying employees' vacations, paying bonuses for length of service, and repairing fixed assets.
Targeted financing as a source of asset formation comes from the outside (the state and other organizations) and is used to cover the costs associated with carrying out targeted activities.
If their own sources of asset formation are insufficient, organizations attract capital from outside (raised capital).
Raised capital- these are the obligations (debts) of a given organization to other organizations and individuals. Organizations and persons who lent assets to this organization are called creditors, and the obligations arising in connection with their receipt are called accounts payable. Depending on the maturity of obligations, a distinction is made between long-term debt capital and short-term debt capital.
Long-term borrowed capital includes bank loans and loans. Long-term loans- amounts of funds received from banks for a period of more than one year to finance the organization of capital investments in fixed assets, advanced technologies, etc.
Long-term loans include amounts of funds received from the issue and sale of employee shares and bonds.
Short-term attracted capital according to the formation mechanism can be combined into several groups:
- short-term loans and borrowings (liabilities to banks and other organizations for received loans and borrowings, the repayment period of which does not exceed 12 months after the reporting date). All loans issued by banks are paid, repayable, urgent and have a targeted nature;
- accounts payable (debts of an enterprise to suppliers for goods and services, on bills issued); This same group includes debts to their employees for accrued but unpaid wages, arising due to the fact that the moment of its accrual and payment do not coincide in time. The same is the mechanism for the formation of debt to social insurance and security authorities, to the budget for taxes;
- future income (funds received in advance, repayment of debt for which is expected in the next reporting periods - receipt of an advance for an object that will be built over several reporting periods; rent for the year, etc.).
The grouping of assets by source of education is presented in Fig. 1.4.
The composition of own and attracted capital is presented in Figure 1.5. and 1.6.
Having studied the issue of classifying the property of an enterprise, we will give a definition of the subject of accounting.
Subject of accounting- reflection of the state and movement of assets, sources of their formation and results of activity of an economic entity (organization). The content of the subject is most clearly revealed through the objects of accounting: long-term and short-term current assets, own and attracted capital and transactions arising in the process of carrying out business activities.
Accounting method- a set of methods and techniques with the help of which the subject (objects) of accounting are learned. It allows you to study phenomena in motion, change, interconnection and interaction. The accounting method depends on the subject of accounting, i.e. reflected and controlled objects, as well as the tasks assigned to the accounting and the requirements placed on it.
Therefore, the method cannot be considered as something frozen. The development of scientific and technological progress places new demands on accounting, and this causes a change in its techniques and methods. For example, the use of computer technology leads to improved methods of monitoring, controlling and recording business transactions and retrieving information.
The accounting method includes the following methods and techniques, which are commonly called elements of the accounting method: documentation and inventory, valuation and calculation, accounts and double entry, balance sheet and reporting.
Documentation- written evidence of a completed business transaction or the right to carry it out. Each business transaction is documented. The document serves not only as the basis for recording transactions, but also as a method of primary observation and registration of them. Documentation serves control purposes, makes it possible to conduct documentary checks, and ensure the safety of property.
Inventory is a method of checking the compliance of the actual availability of farm property in kind with accounting data: as an element of the accounting method, it is a means of observing and subsequent recording of phenomena and transactions that are not reflected in the primary documentation at the time of their occurrence. Therefore, inventory serves as a complement to documentation.
Documentation and inventory are methods of primary observation of accounting objects.
Grade- the method by which the assets of a business entity receive monetary expression. The valuation of the assets of a business entity is based on their actual cost, which is how the reality of the valuation is achieved.
To manage business processes, you need to know all the costs associated with their implementation. In this case, not only the amount of each type of cost is calculated, but also the total amount related to a specific object, i.e. the cost of the objects taken into account is determined. The cost of accounting objects is calculated using costing used to control the amount of costs.
In order to constantly monitor the economic processes of an organization over the state of assets and the sources of their formation, it is necessary to take into account all business transactions continuously at the stages of the circulation, as well as in the context of individual groups and types of economic assets. In accounting, such a reflection of economic assets and processes is carried out by monitoring the changes occurring with various types of property and the sources of its formation, all the costs incurred in a particular economic process.
The economic grouping of accounting objects and obtaining the necessary information about them for the purpose of current monitoring of economic activities is provided by a system of accounts. The use of accounts is explained by the fact that the information available in documents provides only a fragmented description of accounting objects, while accounts allow one to obtain their generalized characteristics.
Reflection of business transactions in the system of accounts is carried out using double entry, the essence of which lies in the interconnected reflection of various phenomena caused by business transactions.
Control over the entire set of objects in accounting is carried out by comparing assets with the sources of their formation. This comparison is called balance generalization. It is characterized by the equality of the total sum of types of funds and the sum of the sources of their formation. This equality remains constant.
The results of economic activities are contained in the organization's reporting. Financial statements- a unified system of information on the financial position of an economic entity for a certain period of time.
The organization's assets participate in economic turnover continuously, changing their composition and form of value. To guide business entities, they need to know what assets they have, from what sources they were created, and for what purpose they are intended. The balance sheet answers these questions.
Balance sheet- a method of generalizing and grouping the assets of the economy and the sources of their formation as of a certain date in monetary value. As an element of the accounting method, it is characterized by the following features.
The assets of the economy and the sources of their formation are presented separately: economic resources are in the asset, and sources are in the liability. The total balance sheet asset is always equal to the total balance sheet liability:
ASSETS = LIABILITIES.
Since liabilities represent the capital and liabilities of the organization, this equality can be presented as follows:
ASSETS = CAPITAL + LIABILITIES.
In the balance sheet, assets and liabilities are shown only in monetary terms.
Each asset and liability element of the balance sheet is called a balance sheet item. Any asset item on the balance sheet allows you to obtain the following characteristics of economic resources: what this part of the assets is embodied in, where it is used, their value.
Any liability item on the balance sheet allows you to obtain the following characteristics of the sources of formation of economic resources: from what source this part of the assets was created, for what purpose they are intended, their value.
All items of assets and liabilities of the balance sheet, based on their economic homogeneity, are summarized in certain sections of the balance sheet.
The balance sheet asset contains two sections: non-current assets; current assets.
The balance sheet liability consists of three sections: capital and reserves; long term duties ; Short-term liabilities.
The sections in the assets of the balance sheet are arranged according to increasing liquidity, and in the liabilities - according to the degree of consolidation of sources.
The composition of the balance sheet sections and the order of grouping items in them are regulated by regulations.
The balance sheet contains a set of momentary indicators that characterize the assets of the economy and the sources of their formation as of a certain date.
Thus, balance sheet- this is a way of grouping farm assets by types and sources of their formation in value terms as of a certain date.
The grouping of economic resources in the balance sheet assets is presented in Table 1.1.
Section I of the balance sheet asset “Non-current assets” presents all long-term assets of an economic entity: intangible assets, fixed assets, long-term financial investments, capital investments.
Items in the “Intangible assets” group are valued in the balance sheet at their residual value. The residual value of this group of assets is determined as the difference between the original (replacement) cost and the amount of accrued depreciation.
The articles of the “Fixed Assets” group are also evaluated, with the exception of the “Land” article. Depreciation is not accrued for this type of asset. In the balance sheet, all fixed assets and intangible assets are presented in one section, regardless of the field of operation.
The items in the “Financial Investments” group reflect investments of funds and other property in other economic bodies for a period of more than one year; under the item “Capital investments” - actual costs in unfinished construction.
Section II of the balance sheet asset “Current assets” reflects non-current assets in several groups. In the “Inventories” group, current assets of the production sector are presented as separate items. Raw materials and supplies are valued in the balance sheet at the actual procurement cost. Costs in work in progress can be assessed at standard cost, at the amount of direct costs, or at actual production cost. This section also reflects items of circulation: finished products and goods shipped, deferred expenses, which should be assessed at actual cost.
The second group of current assets consists of short-term financial investments in other organizations. The “Cash” group is represented by the articles “Cash”, “Cash Accounts”, “Currency Accounts”, “Other Cash”.
This same section of the asset also reflects receivables from both other organizations and individuals, as well as employees of a given business entity.
The balance sheet liability consists of three sections (Table 1.2.). Section III of the balance sheet is represented by equity capital, and sections IV and V reflect attracted capital.
In Section III of the balance sheet “Capital and Reserves”, independent items reflect the own sources of property formation - authorized capital, additional capital, reserve capital. The same section shows the retained earnings of the enterprise from previous years and the reporting year. Independent items represent uncovered losses.
The articles of Section IV of the balance sheet “Long-term liabilities” characterize debt to banks for loans and borrowings received from other organizations for a period of more than one year.
Section V of the balance sheet “Short-term liabilities” combines several groups of short-term debt: borrowed funds, accounts payable, reserves for future expenses, deferred income.
In the group “Borrowed funds”, independent items reflect debt to banks for short-term loans and borrowings from other enterprises.
The items in the “Accounts Payable” group reflect debts to suppliers and contractors for goods and materials received from them, subsidiaries and dependent enterprises, employees of the organization, the budget, and social funds.
Depending on the purpose, content and order of preparation, several types of balance sheets are distinguished.
The balance sheet characterizes in monetary terms the assets of the economy and the sources of their formation as of a certain date. The balance sheet is compiled by the accounting department of organizations by calculating account balances.
The working balance, in addition to the balances of assets and the sources of their formation at the beginning and end of the period, contains data on their movement (debit and credit turnover) for the reporting period.
The opening balance (initial) is the first balance drawn up on the date of registration of the organization. The asset of such a balance sheet characterizes the composition of the property of the business entity with which its activities begin, and the liability - the sources of its origin. The opening balance sheet contains fewer items than subsequent balance sheets, reflecting the results of business activities for a certain period of time. Before drawing up the opening balance sheet, as a rule, an inventory and assessment of the organization’s available resources is carried out.
Closing balance- a reporting document on the production and financial activities of an organization for a certain period of time. It is compiled on the basis of verified accounting records (reconciliation of turnover and account balances, verification of asset inventory).
The liquidation balance sheet is intended to characterize the property status of an organization on the date of termination of its activities as a legal entity.
A preliminary balance sheet is developed in advance at the end of the reporting period, taking into account expected changes in the composition of the organization's property. The basis for drawing up such a balance sheet is the actual accounting data on the state of assets and liabilities at the time of its preparation and the expected data on business transactions that will be completed before the end of the reporting period. The preliminary balance allows you to establish in advance the financial position of the organization at the end of the reporting period.
The gross balance sheet includes regulatory items; used for scientific research, improvement of balance information functions, etc.
Net balance- a balance sheet from which regulatory articles are excluded: “Depreciation of fixed assets”, “Depreciation of intangible assets”, etc. in modern conditions, the importance of the net balance sheet has increased, since it allows you to determine the real value of the organization’s assets. Currently, the net balance sheet is the current reporting form.
Every day, organizations carry out many business transactions that affect the amount of assets and the sources of their formation. Since the balance sheet reflects the state of the property, each operation affects the balance sheet, changing the value of its items. Depending on the impact on the balance sheet, all business transactions are usually divided into four types.
The first type of business transactions is associated with the regrouping of the organization's assets. The first type includes operations for the receipt of funds to the current account from the cash register or from debtors, the issuance of money from the cash register to accountable persons, the return of unspent amounts by accountable persons to the cash desk, the release of materials from the warehouse to production, the receipt of finished products from production to the warehouse, shipment finished products from the warehouse to customers, etc.
The second type of business transactions is associated with the regrouping of the organization's obligations. The second type also includes operations to use profits to create accumulation and consumption funds.
Thus, business transactions of the second type lead to changes only in the liabilities side of the balance sheet. The total balance sheet currency does not change.
The third type of business transactions is associated with an increase in property. Operations of the third type include operations for calculating wages to the organization’s personnel, crediting loans to its accounts, obtaining loans, etc.
The fourth type of business transactions is associated with the reduction (disposal) of property.
Operations of the fourth type include operations for paying wages to the organization’s personnel, repaying debts to suppliers, the budget, and social funds.
Reflecting the state of economic resources at a certain point in time, the balance sheet reveals the structure of assets and the sources of their formation in the context of types and groups, allows you to determine the specific weight of each group, their relationship and interdependence among themselves, serves as a source of information necessary to identify the most important indicators characterizing its financial state.
According to the balance sheet, the security of assets, the correctness of their use, the size of material reserves, compliance with financial discipline, profitability of work, etc. are determined. By signaling shortcomings in work and financial condition, it serves as the basis for identifying their causes.
Based on balance sheet data, measures are developed to eliminate them, and the correct use of assets for their intended purpose is monitored. It gives a complete and complete picture not only of the financial state of the enterprise at each moment, but also of the changes that have occurred over a given period of time. The latter is achieved by comparing balance sheets for a number of reporting periods.
The organization's balance sheet provides generalized data on accounting objects as of a certain date. Operational management of an organization in order to make appropriate management decisions necessitates the need to have continuous information about the state and movement of assets and the sources of their formation. In this regard, a system of accounts is used in accounting.
Account system- a method of economic grouping, current reflection and operational control of the organization’s assets and business operations.
Each account is designed to reflect a specific accounting object. Based on primary documents, the account accumulates and systematizes current data on homogeneous business transactions.
Accounting accounts in relation to the balance sheet are divided into two groups: accounts for accounting for assets (asset accounts) and accounts for accounting for the sources of assets (source accounts).
All asset accounts are active accounts. They have the following structure: account balance (can only be debit), debit turnover (means the receipt of assets), credit turnover (their use, disposal).
Transactions on any active account can have a final balance (Sk) greater than 0 or equal to 0, which will be reflected in the diagram as follows.
On an active account, the final balance (Sk) cannot be less than zero, since it is impossible to spend more assets than there were.
Active accounts include “Fixed assets”, “Materials”, “Cash”, “Current account”, “Intangible assets”, “Settlements with founders”, etc.
All accounts of sources of asset formation are passive. in a passive account, the initial balance is always reflected on the loan (credit balance); an increase in sources is also reflected on the same side of the account. A decrease in sources is reflected in the debit of passive accounts. When recording transactions on a liability account, two cases may arise.
Passive accounts include “Authorized capital”, “Settlements for short-term loans and borrowings”, “Settlements with suppliers and contractors”, “Settlements with personnel for wages”, etc.
A special group consists of active-passive accounts, which combine the characteristics of active and passive accounts. An example is the account “Other income and expenses”, the debit of which reflects other expenses, and the credit - other income. By comparing account turnover, we determine the balance, which can be either in the debit of the account (expenses exceed other income) or in the credit of the account (other income is greater than other expenses). Individual accounts can have two balances at once.
There is a close relationship between accounts and balance:
- each balance sheet item, as a rule, corresponds to an account, except in cases where individual items reflect the data of several accounts (for example, the item “Raw materials and materials” contains balances on the accounts “Materials”, “Procurement and acquisition of materials”, (“Variations in the cost of materials” ") or vice versa, balances on some accounts are shown in the balance sheet as several items (account “Settlements with suppliers and contractors”);
- accounts are divided into active and passive similar to balance sheet items;
- balances of assets and sources of their formation are shown in accounts on the same side as in the balance sheet;
- the sum of the balances for all active accounts is equal to the total asset (currency) of the balance sheet, and for all passive accounts - the total of the liability (currency) of the balance sheet;
- the balance sheet is drawn up based on the data in the accounting accounts, and accounts are opened based on the balance sheet data.
All business transactions are reflected in the accounting accounts using the double entry method.
Double entry- a method of reflecting each operation in the debit of one and the credit of another interrelated account in the same amount.
The use of double entry is objective and is associated with the dual nature of recording business transactions. The need for double entry is reflected in four types of balance sheet changes.
Double entry gives accounting a systematic character and ensures interconnection between accounts, which allows them to be combined into a single system.
Double entry has great information value, as it allows you to obtain information about the movement of economic resources and the sources of their formation, and helps control the movement of assets and the sources of their formation.
Double entry makes it possible to check the economic content of business transactions and the legality of their implementation, starting from an individual transaction and ending with reflection in the balance sheet, and ensures the identification of errors in accounting records. Each amount is reflected in the debit and credit of different accounts, so the debit turnover of all accounts must be equal to the credit turnover of these accounts. Violation of equality indicates errors in the records that must be found and corrected.
Each business transaction is reflected in the accounting accounts using the double entry method. In this case, the amount of the transaction is reflected in the debit of one account and the credit of another account, i.e. There is a relationship between the accounts on which the transaction is reflected.
The relationship between the debit of one account and the credit of another account, resulting from double entry of a business transaction on them, is called correspondence of accounts. The accounts between which such a relationship has arisen are called corresponding accounts.
Designation of correspondence accounts, i.e. the names of debited and credited accounts indicating the amount for this operation is called an ACCOUNTING RECORD (posting).
Accounting records, based on the number of accounts they affect, are divided into simple and complex.
It is customary to call simple accounting records those in which only two accounts correspond - one for debit and the other for credit.
Complex accounting records are those in which one debit account corresponds with several credit accounts or vice versa.
When preparing complex entries, it should be borne in mind that only an entry in which the correspondence of accounts is clearly expressed is correct, so you should not make an accounting entry that simultaneously affects several debited and credited accounts.
Accounting records are made on the basis of documents that record the content of a business transaction. To control the completeness of the reflection of all business transactions, accounting records are recorded in the sequence of economically diverse transactions. The reflection of business transactions in chronological order is called a chronological record.
To determine economic activity indicators, all business operations are grouped according to economically homogeneous characteristics.
Grouping of accounts by economic content is carried out to determine the list of accounts and their homogeneous groups necessary to reflect the economic activities of a separate organization.
Applications for business transactions according to a certain system are called systematic. Chronological and systematic records can be kept separately or together.
To manage business activities, it is necessary to have information about accounting objects of varying degrees of detail in terms of the volume of information. Therefore, in order to obtain data of varying degrees of detail, all accounts in accounting are divided into two groups: synthetic and analytical. Synthetic accounts are used for consolidated grouping and accounting of homogeneous objects, and analytical accounts are used for detailed characteristics.
The reflection of property and processes on synthetic accounts is called synthetic accounting, and their reflection on analytical accounts is called analytical accounting.
Synthetic accounting is carried out in monetary terms; analytical - three groups of meters are used. In analytical accounts reflecting inventory values, accounting is carried out in monetary and natural measures, i.e. in quantitative and total terms.
Synthetic and analytical accounts are closely interrelated. The basis of the relationship is the parallelism of the entries in the accounts. The relationship between synthetic and analytical accounts is expressed as follows:
- analytical accounts are maintained to detail synthetic accounts;
- a transaction recorded on a synthetic account must be reflected in the corresponding analytical accounts opened for this synthetic account;
- on a synthetic account, the transaction is recorded as a total amount, and on its analytical accounts - as partial amounts, ultimately giving the same total amount;
- entry into analytical accounts is made on the same side as in the synthetic account, i.e. their structure is the same.
Therefore, the initial and final balances, as well as debit and credit turnovers of a synthetic account must be equal to the total amounts of the corresponding balances and turnovers of its analytical accounts opened in its development. When summing up the results for the reporting period, the data from the synthetic and analytical accounts must be compared and coincide, which indicates the correctness of accounting.
It should be noted that some synthetic accounting accounts reflect funds or sources of funds that do not require further detail. Such synthetic accounts do not have analytical accounts (“Cash desk”, “Current account”, “Authorized capital”).
Subaccounts occupy an intermediate place between synthetic and analytical accounts. Subaccount- a method of grouping data from analytical accounts.
The number of synthetic accounts and sub-accounts is determined by the needs of reporting, and the number of analytical accounts is determined by the needs of managing the economic body.
Data from synthetic and analytical accounts are summarized at the end of the reporting period in order to obtain summary information.
Chart of Accounts- classification of the general nomenclature of synthetic accounting indicators. In the Russian Federation, a unified Chart of Accounts has been developed and used, approved by the Ministry of Finance of the Russian Federation on October 31, 2000 No. 94n.
This means that all organizations, regardless of their legal form, are required to use this Chart of Accounts for accounting. For ease of use, all accounts are compiled into 8 sections, in accordance with the grouping of accounts by economic content.
Rice. Chart of Accounts Structure
Instructions for its use have been developed for the chart of accounts, and standard correspondence of accounts is also provided.
Thus, accounting is characterized by the formation of economic information within individual economic entities on the basis of continuous and continuous registration of economic processes and phenomena; documenting business transactions; the use of special techniques and methods for their collection and processing; use as the main monetary meter.
Accounting is a regulated system based on a number of principles. The current level of its development meets the requirements of a market economy and is based on national accounting and reporting provisions that comply with international standards.