Possible short-term liabilities of the organization in the balance sheet line. Section IV. “Current liabilities How to find current liabilities on the balance sheet

The passive part of the balance sheet is represented by such elements as equity capital and liabilities of the enterprise as of the date of formation of the balance sheet. Both the equity and liabilities of the enterprise represent the sources of the organization's assets.

Long-term liabilities of the enterprise in the balance sheet

Long-term liabilities of the enterprise in the balance sheet are represented by such elements as:

loans and credits of the organization;
deferred tax liabilities;
other long-term liabilities.

All long-term loans and credits that were provided to the organization are recorded in accounting account 67 “Long-term loans and borrowings” with an analytical breakdown by type. Long-term are loans or credits whose repayment period exceeds 12 calendar months. The credit balances of this account are an indicator as part of the company's long-term liabilities for loans and credits.

Deferred tax liabilities also represent long-term liabilities of the organization. Such obligations arise in an organization in the presence of tax permanent differences. Data on such differences are recorded in account 77 “Deferred tax liabilities”.

Note 1

If the organization has other long-term liabilities, then they are taken into account in the line “Other long-term liabilities”. For example, this may be debt to suppliers for goods, the repayment period of which is more than one calendar year.

Short-term liabilities of the enterprise in the balance sheet

All short-term loans and credits that were provided to the organization are recorded in accounting account 66 “Short-term loans and borrowings” with an analytical breakdown by type. Short-term are loans or credits whose repayment period is less than 12 calendar months. The credit balances of this account are an indicator as part of the company's short-term liabilities for loans and credits.

An organization's accounts payable, as a rule, consists of several types and is recorded in the appropriate accounts:

60 – debt to suppliers for goods or products received, if such products on the date of drawing up the balance sheet were received by the enterprise but not paid for;
62 – debt to customers for returns of goods, if as of the date of compilation of the balance sheet such claims for return were made;
70 – debt to employees of the enterprise for payment of wages and other payments. As a rule, at the end of the reporting period, part of the wages for the second half of the last reporting month remains unpaid in organizations;
68 – debt to the budget for various taxes (value added tax, income tax, personal income tax, etc.). As a rule, organizations do not pay most of the taxes “up front”, so at the end of the reporting period such debt appears;
69 – debt to off-budget funds (Pension Fund, Social Insurance Fund, etc.). As a rule, the amount of such debt is proportional to the amount of debt for unpaid wages.

The organization may also have other accounts payable, which are reflected in the “Other creditors” line.

2018-03-12 5761

Purpose of the article: reflection of information about other obligations.
Line number in the balance sheet: 1450, 1550.
Account number according to the chart of accounts: Credit balance 60, 62, 68, 69, 76, 86.

Other liabilities are non-essential indicators for settlements with various creditors. In this case, materiality is the main selection criterion for reporting.

On what basis should it be included in the balance sheet?

Other liabilities are usually called everything that does not fit into the format of other balance sheet items and at the same time is too insignificant to be included in a separate line.

At the end of the reporting year, any organization is required to submit financial statements based on the results of its economic activities. These are Form No. 1 “Balance Sheet” with appendices, Form No. 2 “Report on Financial Results” and others. What the balance sheet consists of is described in PBU 4/99.

The balance is divided into two parts:

Assets.
Liabilities.

Assets take into account the property of the enterprise, and liabilities - its obligations to third-party and internal counterparties. Significant debts are located in lines specially designated for them. Non-material indicators are in other liabilities that collect a variety of accounting data.

Note from the author! The materiality level is set at 5%. This means that an indicator is considered significant if without it the information in the report would be undisclosed. An amount that is less than 5% in relation to the total balance sheet section is considered insignificant.

Distribution by timing of occurrence

An expanded balance is usually used for reporting so that information can be more fully disclosed.

In turn, other debts may include:

in section IV “Long-term liabilities” - line 1450;
in section V “Short-term liabilities” - line 1550.

As the title of the sections suggests, arrears should be classified depending on the period of their occurrence:

up to 12 months are considered short-term;
over 12 months are long-term.

Other liabilities collect information at the end of the reporting period, which is taken into account in accordance with the approved Chart of Accounts. This document is a working guide for an accountant. Current other liabilities include the credit balance:

76th account “Settlements with various debtors, creditors”;

At the same time, you need to know that the information accumulated on the 76th account may relate to other lines of the report, depending on the subaccount, and it should not exceed a significant level. Otherwise, the information reflected in this account must be included in accounts payable.

Current other liabilities may include:

debts to investors when disbursing targeted financing;
special funds to cover current expenses (account 82);
deposited wages (account 76.04);
settlements of claims (account 76.02);
settlements on bills;
VAT amounts accepted for deduction upon receipt of advance payment from buyers (account 76.AB).

It is not recommended to reflect VAT amounts on advances in liabilities, as they reduce the balance sheet total. Repayment of VAT from advances, unlike other subaccounts, should bring the information to a collapsed form. Since accounts receivable include prepayments, the credit balance must be reduced to the amount of debit 76.AB “VAT accrued on advances” and show the result in the “Current assets” section under the article “Other current assets” of Form No. 1.

Example of reflection in the balance sheet

For example, an organization at the end of the year has the following balances:

Table No. 1. Balances of the 76th account in RAS.

Account number in RAS	Analytical subconto	Debit balance at the end of the year	Loan balance at the end of the year
	Settlements with various debtors and creditors
	Insurance calculations
	Claims settlements
	Deposited salary
	Settlements with other suppliers
	Settlements with other buyers, customers
TOTAL collapsed

To reflect in line 1550, you need to take only the balance on the credit of accounts of insignificant values. This means that the balance sheet will reflect:

4,000 + 5,800 + 44,000 = 53,800 rubles.

Note from the author! We must remember that the amounts included in the balance are in the format of thousands, that is, 54 thousand rubles. This circumstance is regulated by Order of the Ministry of Finance No. 66n according to OKEI codes.

How to fill line 1450

In order to fill out line 1450, you need to decide which immaterial obligations can be classified as long-term. These may include accounts payable:

62 “Settlements with buyers and customers”;
76 “Settlements with various debtors and creditors”;

To reflect accounts payable in the balance sheet, a specially designated line 1420 is provided. But this line should only show short-term debt. Therefore, settlements with creditors, which may be long-term (provided they are not significant), are taken into account among other obligations. Arrears that are considered long-term:

Deferment or installment plan for the payment of taxes, fees, and insurance premiums.
Investment tax credit.
Restructuring of debts to funds.
Debts on commercial loans.
Obligation to the investor if the debtor is a developer.

To decipher balance sheet data, enterprises use Explanations, which are drawn up in Appendix No. 3 to Order No. 66n of the Ministry of Finance of Russia. The composition of line 1450 can be partially deciphered in table 5.3 “Presence and movement of accounts payable” in terms of long-term liabilities.

These obligations are not subject to financial analysis due to their insignificance. You can only analyze their ratio in comparison with other items in the balance sheet section. This is possible with the following formula:

Line 1450 / sum of lines of section IV * 100.
Row 1550 / sum of rows of section V * 100.

This way you can see the percentage of other liabilities compared to other items. At the same time, this helps to find out whether the indicated indicators really comply with the level of insignificance.

The company needs to show all its amounts in the report, disclosing financial information as much as possible, so even the most insignificant figures must be taken into account.

Section V of the balance sheet consists of six lines. This section should reflect information about the organization’s obligations with a maturity period of less than 12 months after the reporting date. The lines of Section V, in particular, reflect the amount of short-term borrowed funds, the amount of debt, the amount of deferred income and other short-term liabilities.

Let's consider the procedure for filling out the lines of Section V of the balance sheet.

line 1510, line 1520, line 1530, line 1540, line 1550

Line 1510 “Borrowed funds”

Line 1510 is dedicated to borrowed funds. In essence, the same data must be reflected here as in line 1410 - only it is filled in for short-term loans and borrowings (with a repayment period of no more than 12 months after the reporting date). The balance sheet must show not only the amount of the loan (credit), but also the interest that the organization must pay on it under the terms of the agreement.

The credit balance of account 66 “Settlements on short-term loans and borrowings” that was not repaid as of December 31 of the reporting year is transferred to line 1510.

Line 1520 “Accounts payable”

Line 1520 must show information about all short-term accounts payable of the organization. That is, these are debts:

to suppliers and contractors,
to the budget and extra-budgetary funds for and contributions;
to staff (for example, on accrued and unpaid wages);
to the founders for unpaid income from equity participation.

If the amount of any debt is significant, it can be further deciphered. To do this, the balance sheet is supplemented with the appropriate lines (for example, 1521 “Debt to suppliers and contractors”, 1522 “Debt on taxes and fees”, etc.).

Line 1530 “Deferred income”

On line 1530, you must show the amount of the target provided for a period of no more than 12 months after the reporting date, the cost of property received free of charge, not included in the organization’s other income, and other upcoming receipts (for example, the difference between the amount that must be recovered from the guilty parties for the shortage, and the book value of the lost property).

To fill out line 1530, you need to take the credit balance of account 98 “Deferred income” and add it to the credit balance of account 86 “Targeted financing” (in terms of grants, technical assistance, etc., received for a period not exceeding 12 months after the reporting date ).

Line 1540 “Estimated liabilities”

In line 1540 it is necessary to show information about the organization's short-term estimated liabilities. For example, to pay for vacations or pay benefits for long service. This line of the balance sheet must be filled out according to the same principle as line 1430. The difference is that the credit balance of account 96 “Reserves for future expenses” in terms of obligations with a repayment period of no more than 12 months after the reporting date is transferred to line 1540.

Line 1550 “Other obligations”

Line 1550 contains data on other short-term liabilities of the organization. Here you can show information about the company’s non-material obligations that are not reflected in lines 1510-1540 of section V of the balance sheet.

For example, targeted financing received by development organizations from investors. In this case, the developer must transfer the constructed facility to investors within a year or less. Accordingly, in line 1550 of the balance sheet, enter the credit balance of account 86 “Targeted financing” (in terms of the funds mentioned) and 76 “Settlements with various debtors and creditors” (in terms of those not reflected in other liability lines of the balance sheet).

Short term are liabilities whose maturity does not exceed 12 months after the reporting date.

Short-term liabilities include short-term obligations of the organization to suppliers (for goods supplied, work performed and services provided for the organization), buyers (for advances received from them), founders and employees, to the budget and extra-budgetary funds, lenders and other creditors.

In addition, reserves for future expenses are reflected as part of the organization's short-term liabilities.

Current liabilities and

In the form of the Balance Sheet, approved by Order of the Ministry of Finance of Russia dated July 2, 2010 N 66n, section. V looks like this.

Explanations	Indicator name	On ____ 20__

	V. SHORT-TERM LIABILITIES
	Borrowed funds
	Accounts payable
	revenue of the future periods
	Estimated liabilities
	Other obligations
	Total for Section V

This section displays information about the organization's short-term liabilities.

The procedure for generating indicators according to the lines of section V of the balance sheet liabilities

The organization's liabilities (essentially its borrowed capital) are presented in two liability sections of the balance sheet, depending on their maturity date:

in Sect. IV “Long-term liabilities” – liabilities whose maturity is more than 12 months after the reporting date;

in Sect. V “Short-term liabilities” – obligations that must be repaid within the next year.

Section V "Short-term liabilities" of the balance sheet reflects information about short-term borrowed sources attracted by the organization.

In line 1510 "Borrowed funds" credit account 66 "Settlements on short-term loans and borrowings" is entered, as well as part of the amounts from the credit account 67 "Settlements on long-term loans and borrowings" (to the extent repayable within the next 12 months after the reporting date ).

On line 1520 “Accounts payable,” the organization needs to show the total amount of all types of short-term debt to other organizations and individuals, as well as to the state and extra-budgetary funds. To do this, add up the credit balances of the following accounts (in terms of short-term accounts payable):

Organizations have the right to independently determine the detail of indicators for reporting items.

Therefore, in principle, an organization can add decoding lines to detail the indicator on page 1520 “Accounts payable”.

For example, for separate presentation of information on short-term accounts payable to suppliers and contractors, to the organization’s personnel, to the budget for the payment of taxes and fees, as well as to extra-budgetary funds, if the organization recognizes such information as significant.

The organization must fill out page 1530 “Deferred income” of the balance sheet liability in cases where the accounting provisions provide for the recognition of this accounting object.

For example, commercial organizations here reflect the sum of the credit balances of accounts 98 “Deferred income” and 86 “Targeted financing”.

The fact is that in commercial organizations receiving budget funds, amounts of targeted financing aimed at acquiring non-current assets or inventories are taken into account as part of deferred income. Remains of targeted financing are also reflected within this category of accounting objects.

Line 1540 “Estimated liabilities” is intended to reflect the credit balance of the account (excluding amounts included in long-term liabilities).

Line 1550 “Other liabilities” reflects other types of short-term liabilities that are not included in the above lines.

For example, the amount of targeted financing received by developer organizations from investors and generating an obligation to transfer the constructed object to them within 12 months after the reporting date (in accounting they are taken into account in account 86 “Targeted financing”), or the amount of VAT accepted for deduction when transferring an advance (prepayments) and subject to restoration and payment to the budget upon actual receipt of goods, works, services or upon return of the transferred advance payment (prepayment), usually accounted for in account 76 "Settlements with various debtors and creditors".

The total amount of lines 1510 - 1550 is reflected on line 1500 "Total for Section V", which characterizes the total amount of short-term borrowed capital (liabilities) of the organization.

Still have questions about accounting and taxes? Ask them on the accounting forum.

Current liabilities: details for an accountant

On the period of use and qualification of assets and liabilities
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Accounting and reporting as a short-term liability; there is no unconditional right to defer repayment... months after the reporting date. Short-term liabilities also include the current share of long-term...
Features of the presentation of financial statements in 2018
Months after the reporting date Current liabilities include (even if the maturity date is... months after the reporting date). Short-term liabilities also include the current share of long-term...
Public disclosure of reporting indicators
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An accounting balance sheet is a tabular version of the reflection of the financial indicators of an organization as of a certain date. In the most widespread form in the Russian Federation, the balance sheet consists of two equal parts, one of which shows what the organization has in monetary terms (balance sheet asset), and the other - from what sources it was acquired (balance sheet liability) . This equality is based on the reflection of property and liabilities using a double entry method in accounting accounts.

ATTENTION! As of June 1, 2019, changes have been made to the balance sheet form!

A balance sheet compiled as of a specific date allows one to evaluate the current financial condition of an organization, and a comparison of data from balance sheets compiled as of different dates allows one to track changes in its financial condition over time. The balance sheet is one of the main documents that serves as a source of data for conducting an economic analysis of an enterprise's activities.

Having trouble with your balance? On our forum you can consult on any issue. For example, you can see whether an explanatory note is needed for the financial statements of a small enterprise.

Classification of balance sheets

There are many types of balance sheets. Their diversity is determined by a variety of reasons: the nature of the data on the basis of which the balance is formed, the time of its compilation, purpose, method of reflecting the data and a number of other factors.

According to the way the data is reflected, the balance sheet can be:

static (balance) - compiled for a specific date;
dynamic (revolving) - compiled by turnover for a certain period.

In relation to the moment of compilation, balances are distinguished:

introductory - at the beginning of activity;
current - compiled as of the reporting date;
liquidation - upon liquidation of an organization;
sanitized - when rehabilitating an organization approaching bankruptcy;
dividing - when dividing an organization into several companies;
unifying - when organizations merge into one.

Based on the volume of data on organizations reflected in the balance sheet, balance sheets are distinguished:

single - one organization at a time;
consolidated - based on the sum of data from several organizations;
consolidated - for several interrelated organizations, internal turnover between which is excluded when preparing reports.

According to its purpose, the balance sheet can be:

trial (preliminary);
final;
predictive;
reporting.

Depending on the nature of the source data, there is a balance:

inventory (compiled based on the results of the inventory);
book (compiled only according to registration data);
general (compiled according to accounting data taking into account the results of the inventory).

By way of data reflection:

gross - including data from regulatory items (depreciation, reserves, markup);
net - with the exception of these regulatory articles.

Balance sheets may vary depending on the legal form of the company (balance sheets of state, public, joint, private organizations) and the type of its activity (main, auxiliary).

Based on frequency, balances are divided into monthly, quarterly, and annual. They can have either full or abbreviated form.

The balance sheet table can be of 2 types:

horizontal - when the balance sheet currency is defined as the sum of its assets, and the sum of assets is equal to the sum of capital and liabilities;
vertical - when the balance sheet currency is equal to the value of the organization's net assets (i.e., the amount of capital), and the net assets, in turn, are equal to the assets of the enterprise minus its liabilities.

For internal purposes, the organization itself has the right to choose the frequency, methods and methods of preparing the balance sheet. Reports submitted to the Federal Tax Service must have a certain form with comparable data as of the dates indicated in the balance sheet.

Structure of the enterprise's balance sheet

The balance sheet form used for official reporting in the Russian Federation is a table divided into two parts: the asset and liability of the balance sheet. The total amounts of assets and liabilities of the balance sheet must be equal.

A balance sheet asset is a reflection of the property and liabilities that are under the control of the enterprise, are used in its financial and economic activities and can bring it benefits in the future. The asset is divided into 2 sections:

non-current assets (this section reflects property used by the organization for a long time, the cost of which, as a rule, is taken into account in the financial result in parts);
current assets, data on the availability of which are in constant dynamics, accounting for their value in the financial result, as a rule, is carried out one-time.

Read more about them in the material “Current assets on the balance sheet are...” .

The balance sheet liability characterizes the sources of those funds from which the balance sheet asset is formed. It consists of three sections:

capital and reserves, which reflect the organization’s own funds (its net assets);
long-term liabilities, which characterize the debt of an enterprise that has existed for a long time;
short-term liabilities showing an actively changing part of the organization's debt.

The allocation of sections in the structure of the balance sheet is mainly due to the temporary factor.

Thus, the balance sheet asset is divided into 2 sections depending on the time of use of the assets in the organization’s activities:

non-current assets are used for more than 12 months;
current assets contain data on indicators that will change significantly over the next 12 months.

When separating sections in the liabilities side of the balance sheet, in addition to the time factor, the ownership of the funds from which the balance sheet asset is formed (equity capital or borrowed funds) plays a role. Taking into account these 2 factors, the liability is formed from 3 sections:

capital and reserves, where the organization’s own funds are divided into an almost constant part (authorized capital) and a variable part, depending both on the adopted accounting policy (revaluation, reserve capital) and on the monthly changing financial results of activities;
long-term liabilities - accounts payable that will exist for more than 12 months after the reporting date;
short-term liabilities - accounts payable, significant changes in which will occur within the next 12 months.

The concept and meaning of balance sheet items

Sections of the balance sheet are detailed by breaking them down into items. The itemized details recommended for submission to the Federal Tax Service Inspectorate are contained in balance sheet forms approved by Order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n in 2 versions:

complete (Appendix 1);
abbreviated (Appendix 5).

From 06/01/2019, the balance sheet form is valid as amended by Order of the Ministry of Finance dated 04/19/2019 No. 61n. The key changes to it (and other reporting) are:

now reporting can only be prepared in thousand rubles, millions can no longer be used as a unit of measurement;
OKVED in the header has been replaced by OKVED 2;
The balance sheet must indicate information about the audit organization (auditor).

The auditor mark should only be given to those companies that are subject to mandatory audit. Tax authorities will use it both to impose a fine on the organization itself if it ignored the obligation to undergo an audit, and in order to know from which auditor they can request information on the organization in accordance with Art. 93 Tax Code of the Russian Federation.

More significant changes have occurred in Form 2. Read more about them here.

The abbreviated (simplified) form of the balance sheet allows for the combination of its articles in order to obtain aggregated indicators and simplify reporting. However, its use is available only to persons entitled to conduct simplified accounting (SMEs, NPOs, participants of the Skolkovo project).

The breakdown of sections into articles is due to the need to highlight the main types of property and liabilities that form the corresponding sections of the balance sheet.

fixed assets:

intangible assets;
research and development results;
Intangible search assets;
tangible prospecting assets;
fixed assets;
profitable investments in material assets;
financial investments;
Deferred tax assets;
Other noncurrent assets;

current assets:

stocks;
VAT on purchased assets;
accounts receivable;
financial investments (except for cash equivalents);
cash and cash equivalents;
Other current assets;

capital and reserves:

authorized capital (share capital, authorized capital, contributions of partners);
own shares purchased from shareholders;
revaluation of non-current assets;
additional capital (without revaluation);
Reserve capital;
retained earnings (uncovered loss);

Find out which line shows gross profit in the balance sheet .

long term duties:

borrowed funds;
deferred tax liabilities;
estimated liabilities;
other obligations;

Short-term liabilities:

borrowed funds;
accounts payable;
revenue of the future periods;
estimated liabilities;
other obligations.

When drawing up a balance sheet, an organization can use the item-by-item detailing recommended by the Russian Ministry of Finance. However, it has the right to use its own development of this breakdown if it believes that this will lead to greater reliability of reporting. In addition, if there is no data to fill out the relevant items, the company has the right to exclude such items from the balance sheet it compiles.

Composition of balance sheet items

Balance sheet items are filled out based on data on balances in accounting accounts as of the reporting date. When filling out a report for submission to the Federal Tax Service, you must be guided by a number of rules established for the preparation of such reports (PBU 4/99, approved by order of the Ministry of Finance of Russia dated July 6, 1999 No. 43n):

The initial accounting data must be reliable, complete, neutral and formed in accordance with the rules of the current accounting regulations. When reflecting them, it is necessary to comply with the principles of materiality and comparability with the results of previous periods.
In the current report, data from previous periods must be consistent with the figures in the final accounts for those periods.
For the annual balance sheet, the presence of property and liabilities must be confirmed by the results of their inventory.
Debit and credit balances in the balance sheet are not collapsed.
Fixed assets and intangible assets are shown at residual value.
Assets are reflected at their book value (less created reserves and mark-ups).

The accounting balance from 06/01/2019 is filled only in thousands of rubles (without decimal places).

Below is information on the basis of the balances of which accounts the above balance sheet items are filled in in relation to the current version of the chart of accounts, approved by Order of the Ministry of Finance of Russia dated October 31, 2000 No. 94n:

Under the article “Intangible assets”, the residual value of intangible assets is indicated, corresponding to the difference in the balances of accounting accounts 04 and 05. At the same time, for account 04 the data falling in the line “Results of research and development” is not taken into account, and for account 05 - figures related to intangible search assets.
The article “Results of research and development” is filled in if there is data on R&D costs in account 04.
Data on the items “Intangible exploration assets” and “Tangible exploration assets” are important only for those organizations that develop natural resources if they have information on account 08 to fill out lines for these items. Tangible exploration assets include tangible objects, and intangible assets include all others. Both types of assets are subject to depreciation, recorded in accounts 02 and 05, respectively.
For the item “Fixed assets”, data on the residual value of fixed assets (the difference in the balances of accounting accounts 01 and 02, while account 02 does not take into account data related to material exploration assets and profitable investments in assets) and capital investment costs (account 08, excluding the figures included in the lines of the articles “Intangible search assets” and “Tangible search assets”).
Data for the article “Profitable investments in assets” is taken as the difference between the balances of accounts 03 and 02 in relation to the same objects.
The item “Financial investments” in non-current assets is filled out if there are amounts with a repayment period of more than 12 months in accounts 55 (deposits), 58 (financial investments), 73 (loans to employees). The balance of account 58 is reduced by the amount of the created reserve (account 59) related to long-term investments.
Under the article “Deferred tax assets”, organizations applying PBU 18/02 indicate the balance of account 09.
When the line item “Other non-current assets” is used, the balance sheet reflects assets that are either not included in the above lines, or those that the organization considers necessary to highlight.
The figure for the item “Inventories” is formed as the sum of the balances on accounts 10, 11 (minus the reserve recorded on account 14), 15, 16, 20, 21, 23, 28, 29, 41 (minus account 42, if accounting for goods carried out with a markup), 43, 44, 45, 46, 97.
The item “VAT on purchased valuables” reflects the balance of account 19.
To obtain the data indicated under the “Accounts receivable” item, debit balances on accounts 60, 62 (both accounts minus the reserves formed on account 63), 66, 67, 68, 69, 70, 71, 73 (minus data , recorded under the article “Financial investments”), 75, 76.
The article “Financial investments (except for cash equivalents)” in current assets shows data on accounts 55 (deposits), 58 (financial investments), 73 (loans to employees) with repayment periods of less than 12 months. In this case, the figures in account 58 are reduced by the amount of the created reserve (account 59) for short-term investments.
The data for the item “Cash and cash equivalents” is obtained by adding the balances of accounts 50, 51, 52, 55 (excluding deposits), 57.
The line of the article “Other current assets” includes assets that are either for some reason not reflected in the above lines, or those that the organization considers necessary to highlight. For example, this could be a bad debt from a counterparty or the value of stolen property for which investigative actions have not yet been completed. Reflection of such data on this line with a corresponding reduction in figures for those items in which they could have been reflected if there had not been a decision by the organization to allocate them, will require notes both to the article “Other current assets” and to the second article, which will be affected such an operation.
The data for the article “Authorized capital (share capital, authorized capital, contributions of partners)” is taken as the balance of account 80.
The figures in the article “Own shares purchased from shareholders” correspond to the balances of account 81.
For the article “Revaluation of non-current assets”, data on balances on account 83 related to fixed assets and intangible assets is used.
Data for the item “Additional capital (without revaluation)” is formed as balances on account 83 minus data on the revaluation of fixed assets and intangible assets.
The item “Reserve capital” shows the balance of account 82.
The value reflected under the item “Retained earnings (uncovered loss)” in the annual balance sheet is the balance of account 84. For interim reporting (before the balance sheet reformation carried out at the end of the year), this figure is the sum of two balances: for account 84 (financial the result of previous years) and 99 (financial result of the current period of the reporting year). The item “Retained earnings (uncovered loss)” is the only balance sheet item that can have a negative value. At the same time, it is important that for an organization that has a loss, the total of the “Capital and Reserves” section (net assets) does not turn out to be less than the amount of the authorized capital. If this circumstance occurs for two financial years in a row, then the organization must either reduce its authorized capital to the appropriate figure (and this is not always possible, since the authorized capital cannot be less than the minimum value established by current legislation), or it is subject to liquidation.

Read more about the reformation of the balance sheet in the article “How and when to reform the balance sheet?” .

The article “Borrowed funds” in the “Long-term liabilities” section is filled in if there is debt on loans and borrowings, the repayment period of which exceeds 12 months (account balance 67). In this case, interest on long-term borrowed funds must be taken into account as part of short-term accounts payable.
Under the article “Deferred tax liabilities”, organizations applying PBU 18/02 indicate the balance of account 77.
The value under the item “Estimated Liabilities” in the “Long-Term Liabilities” section corresponds to the balance in account 96 (reserves for future expenses) in relation to those reserves whose useful life exceeds 12 months.
The item “Other liabilities” in the section “Long-term liabilities” shows liabilities with a maturity period of more than 12 months that are not included in other lines of long-term liabilities.
The article “Borrowed funds” in the “Short-term liabilities” section is filled in if there is debt on loans and borrowings, the repayment period of which is less than 12 months (account balance 66). At the same time, this includes interest on long-term borrowed funds, recorded in account 67, and debt on long-term loans and borrowings, recorded in account 67, if there are less than 12 months left until its repayment.
The data for the “Accounts payable” item is formed as the sum of credit balances for accounts 60, 62, 68, 69, 70, 71, 73, 75, 76.
For the item “Deferred income” the value is taken as the sum of balances on accounts 86 (target financing) and 98 (deferred income).
The value under the item “Estimated liabilities” in the section “Short-term liabilities” corresponds to the balance in account 96 (reserves for future expenses) in terms of those reserves whose useful life is less than 12 months.
Under the item “Other Liabilities” in the “Current Liabilities” section, liabilities with a maturity of less than 12 months are shown that are not included in other lines of short-term liabilities.

Other non-current assets - what are they on the balance sheet?

“Other non-current assets” - in the balance sheet, these are, as already mentioned, non-current assets that are not reflected in other lines of Section 1 “Non-current assets”.

Other non-current assets of the organization may include, for example:

investments in non-current assets of the organization, accounted for in the corresponding subaccounts of account 08 “Investments in non-current assets”, in particular, the organization’s costs for objects that will subsequently be taken into account as intangible assets or fixed assets, as well as costs associated with the implementation of incomplete R&D, if the organization does not reflect these indicators;
equipment for installation (equipment requiring installation), as well as related transportation and procurement costs, reflected in accounts 15 and 16;
a one-time lump sum payment, provided that the period for writing off these expenses exceeds 12 months after the reporting date or the duration of the operating cycle, if it exceeds 12 months;
the amount of transferred advances and advance payment for work and services related to the construction of fixed assets.

Current liabilities in the balance sheet are line 1500 of the balance sheet

Often, accountants, when filling out tables characterizing the financial condition of an organization, encounter difficulties when it is necessary to indicate current liabilities, because this concept is absent in regulatory documents on accounting and taxation.

To determine where current liabilities are reflected on the balance sheet, let us turn to the meaning of this term. The Financial Dictionary defines current liabilities as accounts payable due within the next 12 months. In other words, current liabilities are synonymous with current liabilities. Short-term liabilities are reflected in section V of the liability side of the balance sheet. Thus, current liabilities in the balance sheet are line 1500 “Total for section V”, which is defined as the sum of lines 1510, 1520, 1540, 1550, 1530 of the balance sheet liabilities.

Find out when the balance sheet is submitted (deadlines, nuances) .

Results

The balance sheet is the main component of financial statements, a summary of the financial performance of an organization as of a certain date. It is drawn up in a certain form and according to certain rules. It is submitted to the tax office and also presented to other interested users. Starting from June 1, 2019, you must use the form as amended on April 19, 2019.