Financial statements of the enterprise. Its meaning

One of the most important documents at the enterprise is financial reporting of the enterprise, which can practically "diagnose" the business. But for the correctness of this diagnosis it is necessary to understand and correctly read the balance sheet and reporting. There are not so few figures in the balance sheet, but if there is a desire, to understand everything and learn how to read the reports you can, it will be interesting and useful. True leaders, apart from everything else, simply have to be a little accountants, because the financial situation of your company can only be clarified in this way.

The financial statements of an enterprise help to assess its solvency, financial stability and property status, as well as other results that are needed to justify many decisions (for example, it is advantageous to grant or extend a loan, establish the degree of reliability of business communications).

With the help of reporting, you can assess the need for financial resources, determine the financial performance of the institution, the effectiveness of the capital structure, forecast, and also solve other tasks related to financial management and financial resources. First of all, it relates to financial firms that issue and place securities. Financial reporting of the enterprise must satisfy the needs of internal and external consumers of information. Forms of financial statements and their volumes are set in the Ministry of Finance of the Russian Federation.

The financial statements of the enterprise include the indicators of all representative offices, branches and other divisions (including those that have separate balances).

The financial statements of the enterprise are able to reflect the financial and property status of the organization and the results of its economic activities. It is based on accounting data and calculations.

In the reporting period, the last calendar day is the date on which the reporting is made. The reporting year is the period from the first of January inclusive to the thirty-first of December.

For organizations that are newly established, the first reporting year is the period from the date when their state registration took place on December 31, and for institutions that were established after the first October, on the thirty-first of December of the following year.

Accounting financial statements of organizations, institutions - this is the final stage in the accounting process.

The reporting is presented in the form of tables, which are filled in according to analytical and synthetic accounting data.

The financial accounting of the organization helps to assess the creditworthiness of the enterprise, that is, how timely and completely the company is able to settle for its obligations. It can help to identify quickly implemented, difficult and slowly realizable assets, as well as the most liquid assets.

The reporting of the enterprise can be traditionally classified by type. It can be operational, statistical and accounting.

By the periodicity of the compilation of reports are divided into annual and intra-annual. Consolidated reporting and primary reporting - according to the degree of generalization of the reporting information.

Reporting is one of the main methods of accounting methodology. Financial statements of institutions, organizations, enterprises - this is the branch of accounting reporting, which registers information about the activities of the institution, organization, enterprise.

In the accounting department, there are specific standards for reporting and accounting, which are adopted in the countries of the market economy.