PBU 4/99 "Accounting statements of the organization": composition, content, position and order

Enterprises in the status of a legal entity, inaccording to the legislation of the Russian Federation, are obliged to keep records. One of the main normative acts regulating this procedure is PBU 4/99. What are its main points? What should be the structure of the reporting documents in accordance with the standards, which are fixed in this regulatory act?

What is the normative act of PBU 4/99?

The considered source of law is put into circulationOrder of the Ministry of Finance of the Russian Federation No. 43n, which was issued on July 6, 1999. This normative act is classified as Regulation. Its full name is the Accounting Regulations "Accounting statements of the organization" (PBU 4/99).

Why do we need the appropriate source of law? This normative act determines the structure, as well as the methodological basis for the accounting records of enterprises.

Jurisdiction of the considered source of lawapplies to all legal entities, except banks, as well as state and municipal structures. Also PBU 4/99 may not apply if the financial statements are formed by the enterprise for internal needs, for the purpose of providing statistical reporting and accounting documentation by business entities to interested parties in an order that is not directly regulated by the Ministry of Finance Order No. 43n.

The document in question should not be used in drawing up:

• reporting, formed by an economic entity for internal purposes, as well as compiled for statistical agencies;
• information prepared by the banking organization in accordance with the established requirements, unless otherwise provided for by separate rules.

It can be noted that the relevant source of norms can be used directly by the Ministry of Finance in order to:

• definition of standard reporting forms, as well as guidelines for them;
• special reporting procedures for small businesses and NPOs;
• establishing rules for creating consolidated reporting, as well as documentation when the status of an enterprise changes.

Thus, the norm in question is a universal source with a fairly wide jurisdiction.

The considered source of law establishes a number of definitions, which it is desirable for enterprises to adhere to when forming the accounts.

Definitions of PBU 4/99

These are definitions of such terms as:

• financial statements;
• reporting date, period;
• user.

Under the accounting statements, in accordance withthe provisions of PBU 4/99, should be understood as a single internal corporate knowledge system on the company's financial position, as well as on the results of the firm's economic activity, compiled on the basis of information that is reflected in accounting.

Under the accounting period in PBU 4/99 is understoodthe period within which the relevant type of reporting should be formed in the organization. Under the reporting date is understood, in turn, the date on which the entity is obliged to report.

Another term that isthe considered source of law is the user. By that means an individual or an organization that is interested in obtaining information about an economic entity.

In PBU 4/99 "Accounting statements of the organization" is determined the composition of the relevant documentation of the enterprise, as well as the requirements for it. Consider them.

Reporting composition

In accordance with the provisions of PBU 4/99 "Accounting statements of the organization", the company's financial statements include:

• balance;
• a report that records profits and losses;
• Special annexes to the balance sheet and the report;
• explanatory note;
• in cases provided by law - an audit report.

In turn, the source of law under consideration establishes a wide range of requirements for the company's accounting statements. Let's study them.

Requirements for documents

In accordance with PBU 4/99 "Accountingreporting organization, documents that are formed by the enterprise, must reflect faithfully and in the necessary completeness representation of the state of affairs in business, the results of the company's economic activities, trends that characterize the company's economic performance.

The main criterion of completeness and reliabilityreporting - its compliance with the rules, fixed by regulatory enactments, which are adopted by the competent authorities. In the event that the formation of the relevant documents reveals the insufficiency of certain data, the firm must report the necessary additional indicators and explanations.

In extreme cases, PBU 4/99 allows this scenario, an enterprise may deviate from the established norms, if it is not possible to obtain the necessary indicators for objective reasons.

Information that is collected during the work onformation of accountability, should be neutral. Its application should not affect decisions made by competent persons in the course of evaluating financial results.

The most important requirement for financial statementslegal entity - it should include indicators reflecting the results of economic activities of all its departments, missions, as well as other structures, including those that have separate balances.

The enterprise needs to ensure the most importantcompliance with the Accounting Regulation "Accounting Reporting Organization" (PBU 4/99), which consists in the sequential formation of documents, taking into account the continuity of the structure of the form, which records the indicators for different reporting periods. The forms of documents used as the basis for drawing up a balance sheet, a report that fixes profits and losses, and the sources supplementing them, must therefore be permanent. They are subject to change in exceptional cases. As an option - if the type of activity of the company is changing. At the same time, the organization should be ready to justify the relevant changes by means of separate explanations to the balance sheet, as well as a report showing profits and losses.

Accounting statements, its composition and content(Accounting Regulation PBU 4/99 contains relevant standards) should be formed taking into account the continuity of the indicators for different reporting periods. In case of discrepancies between the relevant data, the accountant can make the necessary adjustments for certain indicators. At the same time, information about it should be reflected in additions to the balance sheet and a report reflecting the profits and losses of the enterprise.

Reflection of economic indicators in the reporting: nuances

There are a number of nuances that characterize the fixationin the accounting reporting of key indicators - they also include the document "Accounting Reporting of the Organization" PBU 4/99. Briefly about them, we can note the following. Indicators about the assets, liabilities, revenues and expenses of the firm should be reflected separately, if they are very important for a reliable assessment of the situation in the firm. In turn, these indicators may be reflected in additions to the balance sheet and the report, if they are not of particular importance for assessing the state of the business.

Reporting date and year

In accordance with the normativesource, in the formation of accounting documents, the enterprise must bear in mind that the reporting date must be considered the last calendar day of the corresponding period. The reporting year corresponds to the period from January 1 to December 31. The first reporting year for the new organization is the period from the date of registration of the company until December 31. If the firm is established after October 1, the first reporting year for it corresponds to the period from the date of registration in state bodies until December 31, then next year.

Accounting statements: other requirements

Consider other significant requirements forthe formation of accounting statements under PBU 4/99. So, it should be noted that each of its components - balance sheet, report, addenda to them, auditor's report - should contain:

• name;
• the reporting date or the period for which reporting is provided;
• the name of the firm that provides the documents;
• information on the organizational and legal form of business;
• format for reporting indicators.

Order on approval of the Accounting Regulations "Accounting Reporting Organization" PBU 4/99 requires accountants to prepare documentation:

• in Russian;
• indicate the indicators in rubles.

The corresponding reporting should be certified:

• the head of the firm;
• chief accountant or other employee exercising authority to maintain accounting records.

Balance sheet structure

It will be useful to study the structure of two key accounting documents - the balance sheet, as well as the report, which reflects the company's profits and losses. Let's start with the first source.

The balance sheet contains assets and liabilities. Corresponding indicators characterize the company's economic position at the reporting date. As for the assets and liabilities of the firm, they must be classified into short-term and long-term. The first include those whose duration does not exceed 12 months. To the second - on the contrary, those that can be repaid by the obligated party 12 months after the conclusion of the contract and later.

Report structure

The next most important document is a report in whichthe indicators on profit and loss are reflected. Using this source, in particular, the classification of revenues based on PBU 4/99 "Accounting statements of the organization" can be implemented. The document in question should reflect the results of the firm's economic activities for the reporting period. The main indicators in it correlate, therefore, with incomes and expenditures, which are classified into ordinary and other.

Explanations to the balance sheet and the report

Another important type of source included in theaccounting statements of the firm - explanations to the balance sheet and a report reflecting the company's profits and losses. Corresponding additions are designed to disclose information that relates to the accounting policies of the firm and is necessary for the presentation by stakeholders of a reliable assessment of the company's financial performance.

If you need to reflect in the explanationsdeviations from the rules authorized by the competent specialist of the company in the preparation of accounts, the reason for the admission of this deviation is fixed. In addition, the firm must reflect the financial consequences of assuming a non-compliance with the rules of law governing the compilation of financial statements at enterprises.

Additions to accounting sources of accountingshould reflect information that relates directly to the economic activities of the organization and disclose them in the context of that information, which is confirmed by the accounting data. Thus, the person who is interested in obtaining the sources in question expects, first of all, to increase the reliability of information about the economic situation in the enterprise.

A mandatory criterion for the relevant additionsto PBU 4/99 "Accounting statements of the organization" - their compliance with the norms of legislation, as well as internal regulations, if this is required by the corporate management policy. If the financiers had to refuse from any norms, this should be recorded in the addenda in question. Thus, the relevant documents assume to be transparent to any interested persons.

It can be noted that the legal act under considerationcan correspond with others that regulate the accounting at the enterprise. In this case, the financier must have prompt access to the relevant sources of norms in the most recent version, as well as comments, explanations and, if necessary, judicial practice on the use of the provisions of these sources of law.