Select country 2

» » The structure of bookkeeping accounts
  • Нравится
  • The structure of bookkeeping accounts
    Since January 1, 2013 all the companies including those which use the Simplified Taxation System must maintain accounting records and present bookkeeping accounts to the tax department and regional statistical authority.

    The structure of bookkeeping accounts

    In accordance with Article 1 Clause 14 Law no. 402 of the Federal Law the bookkeeping (financial) accounts include:
    • Bookkeeping balance sheet;
    • Income Statement;
    • And Supplements to them.

    Supplements contain the Statement of Changes in Equity, the Statement of Cash Flows and other Supplements to the Bookkeeping balance sheet and Income Statement (Enclosures). Thus supplements form a part of Bookkeeping (financial) accounts.
    The structure and content of enclosures are to be determined by the company itself. As a rule, enclosures are connected with the numerical indicators of the Bookkeeping balance sheet or the Income Statement. They should provide users with the additional data the indication in Bookkeeping balance sheet and Income Statement of which is unreasonable. At the same time this data is essential for reasonable estimate of the financial status of the company, financial results of its business activities and cash flows in the accounting period by the users of bookkeeping accounts.

    Particularly enclosures must disclose the data relative to the accounting procedure of the company, information about the risks of business activities, information about innovations and modernizations and other information.

    The requirements of information disclosure about the risks of business activities in annual account enclosures have been introduced by the Federal Law of December 6, 2011 No.402-ФЗ "On Bookkeeping accounts” since January 1, 2013. Additional indicators and enclosures about risks must be disclosed in the annual bookkeeping accounts first of all by the companies which publish these accounts.

    All the risks of a company are classified in the following way: financial, judicial, state and regional, reputational and others.

    Each type of risks should contain such information about quality characteristics of business activities as:

    • Company risk exposure and causes of occurrence;
    • Concentration of risks: description of certain general characteristic which distinguishes each type of concentration (contractors, regions, transactions and payment currency etc.);
    • Risks controlling mechanism (aims, policy, introduced procedures in the sphere of risks controlling and methods of risk estimation etc.).
    • Changes in comparison with the previous accounting year.
    Companies are recommended to obey the requirements of international standards of financial accounts while disclosing the information about risks of business activities, in particular the requirements of IFRS 7 "Financial instruments: information disclosure”.
    Connect with us If you have any questions or suggestions, please write or call us.