Financial reports. Balance sheet
Balance sheet - the final financial report, after calculating which you can begin to assess the financial and investment risks of the project (business plan), conduct financial and investment analysis. The balance table is used to calculate the financial ratios, and most of the indicators are calculated as the ratio between the balance sheet items, and sometimes, in combination with the financial result.
After performing the basic calculations, data from the two other supplementary tables ("Adjustments" and "Initial and updated balances") are added to the balance table data. To edit them, you need to call the main menu item: "Main menu → Settings → Adjustments and balance settings". As a rule, the "initial balance" table is used in the initial planning stages.
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Balance sheet
The "balance sheet" is calculated together with other plans "Financial Plan" and "Investment Plan". You can calculate the balance from the main menu item: "Main menu → Data → Calculate". Same F9. Balance recommended to be considered along with the other financial statements!
Balance sheet in Budget-Plan Express
ASSETS
Current or current assets (Current Assets)
Current or current assets (Current Assets) are assets that are used in the production activities of the company and are repaid within 12 months or within one operating cycle, if it exceeds 1 year.
1. Cash and cash equivalents. Accounting cash and cash equivalents under IFRS is in accordance with IFRS (IAS) 7 "Cash flow statement". Cash comprises cash on hand and in Bank deposits. Cash equivalents are short – term highly liquid investments.
2. Prepaid expenses. One of the traditional components of the article "deferrals" are advances for services. In reporting according to IFRS they are recorded in the balance sheet in the line item "Prepaid expenses". This formulation allows correctly to reflect the incurred costs.
3. Receivables. Receivables in the balance sheet is the asset that shows the right of the seller to receive cash from the buyer (other debtors in this article, I do not consider). Budget-Plan Express, like before the release of IFRS IFRS 15, "receivables" – the designation of debt buyers for goods and services (deferred payments).
4. Stocks (Inventories). Inventories – assets held for sale or resale, as well as assets in the form of raw materials intended for use in the production process. Order inventory accounting is governed by IAS 2, "Inventories". The cost of inventories determined by the FIFO method, the "first arrival – first vacation" method or weighted average cost.
Non-current Assets
Non-current assets are material assets that are acquired by the company for the production and sale of products, the use life of which exceeds 12 months.
1. Property, plant and equipment. Asset accounting in accordance with international standards, is regulated by IAS 16 "fixed assets". The object of fixed assets is recognized as an asset if the company expects it future economic benefits and its cost can be measured reliably, which includes: directly price, net of discounts and taxes, costs of delivery and removal (dismantling) of fixed assets.
2. Business reputation or assessment of business reputation (Goodwill). The positive difference (goodwill) is considered as a premium to the price in anticipation of future economic benefits. Negative goodwill arises when the sale price of the company, less the value of its net assets. Goodwill is recognised as an asset is tested for impairment at least annually or more frequently if evidence of possible impairment. Sometimes the balance point: "goodwill arising on consolidation".
3. Intangible assets. Accounting of intangible assets in the IFRS (intangible assets) is in accordance with IFRS (IAS) 38 "Intangible assets" are identifiable non-monetary asset without physical substance, which is contained for use in the production or supply of goods and services, for rental property to rent to other companies or for administrative purposes.
4. Investments in associates. Accounting of associated companies under IFRS (IAS) 28 "Investments in associates and joint ventures". An associate is an entity over which the investor has significant influence, but which is neither a subsidiary nor a joint venture.
5. Other assets. Other financial assets change in fair (market) value of which is recognised through profit and loss. Also in "other assets" in the Budget Plan Express included deferred tax assets (Deferred profit tax assets).
TOTAL EQUITY AND LIABILITIES
Current (short-term) liabilities
Current (short-term) liabilities are items of liabilities side of the balance sheet, reflecting liabilities with maturities not exceeding one year.
1. Short-term borrowings. In the "Budget-Plan Express" - this is loans and loans issued for a period of less than one (1) year.
2. Accounts payable. Payables to suppliers and contractors, all deferred payments. According to IFRS, accounted for in accordance with the requirements of IFRS (IAS) 32, 39, IFRS (IFRS) 7. Trade and other payables are a financial liability.
3. Current tax liabilities. Current tax liabilities (assets) – tax liabilities for the current and prior periods. Are measured at the amount expected to be paid to taxation authorities (recovered by tax authorities) at the end of the reporting period.
4. Reserves for future expenses and payments. According to IFRS (IAS 37) provisions for the purpose of this standard is liabilities with an uncertain due date and/or undertaking of uncertain magnitude. In IFRS the term "provision", and this corresponds to the notion of "valuation obligation", used in the PBU.
5. Other short-term liabilities. Other current liabilities are not settled within the normal operating cycle, but are due for settlement within twelve months.
Non-current / Long-term liabilities
Long-term (non-current) liabilities are obligations that are repaid within the period exceeding one year. The main types of these obligations are long-term loans and borrowings.
1. Long-term borrowings. Budget-Plan Express loans issued for a period of more than one (1) year.
2. Deferred tax. Deferred taxes in the Russian accounting are governed by GAAP 18 and IFRS IAS 12. According to these standards, IFRS uses the balance sheet method of tax calculation, the company used to calculate deferred taxes based on the income statement.
3. Other long-term liabilities.
Capital and Reserves
Own capital is one of the most difficultly interpreted accounting categories, since it is believed that each accounting theory provides its own interpretation of this concept. Capital and reserves are disclosed by the number of shares: authorized for issue, issued, fully and partially paid, outstanding as of the beginning and end of the reporting year. Note that in the "Budget-Plan Express", unpaid shares are not listed on the balance sheet. IFRS requires disclosure of the characteristics and purpose of each reserve created from the capital of owners (owners of shares). Organizations that do not have share capital (limited liability companies or partnerships) reflect in the balance the amount of shares in their capital, dividends and other data.
1. Share capital. The joint-stock (authorized) capital of the organization determines the minimum amount of its property that guarantees the interests of its creditors. Organizations that do not have share capital, reflect in the balance sheet in the line "Share capital (authorized) capital" of the amount of shares in the capital.
2. Reserve capital. Reserve capital is the part of company's assets intended to cover its losses. Reserve capital can be used only for purposes stipulated by law and/or constituent documents of the enterprise. The reserve capital may be mandatory and voluntary.
3. Additional capital. Additional paid-in capital is part of enterprise's equity capital, which is formed as a result of: receipt of income; receipt of contributions of founders (exceeding the share of announced authorized capital); the revaluation of assets; gratuitous receipt of assets; the formation of exchange rate differences in the receipt of capital contributions (in foreign currency); receipt of funds for working capital.
4. Accumulated profit / loss. Accumulated (retained) profit is a part of the obtained profits in the reporting period, formed after the accrual of profit tax payable to the budget and the accrual of dividends to be paid to the participants. Accordingly, the accumulated losses is an amount equal to the estimate of losses incurred in the previous reporting period and uncovered this.
5. Minority interest. The minority interest represents the share of net assets of subsidiaries not owned by the parent company either directly or indirectly (through other subsidiaries). In accordance with clause 22 (C) IFRS (IAS) 27 minority share is defined as the amount of the minority interests in the net assets of the subsidiary at the acquisition date (in accordance with IFRS (IFRS) 3 "business combinations") and changes in minority interests following the acquisition of shares in the subsidiary.
Structure and contents of the table "Balance Sheet":
| № | Name | Content and Data Source |
| CURRENT ASSETS = [02] + [03] + [04] + [05] | ||
| 02 | Cash and cash equivalents | Balance at the end of the period ( Cash flow statement) ± Demand deposits ± Short-term highly liquid investments ( Investment plan → Investment assets ) |
| 03 | Prepaid expenses | ± Prepaid costs ( Settings adjustments and balance → Adjustment table ) |
| 04 | Receivables (Receivables) | Receivables ( Account receivable plan ). If the method of revenue recognition is: ( 1 ) for payment = VAT only, ( 2 ) for accrual = the total amount of receivables. |
| 05 | Inventories | Inventories of finished products ( Sales plan → Inventories of finished goods ) + Inventories ( Procurement plan and regulatory costs → Inventories accounting ) + Costs attributable to inventories ( Cost plan for the implementation of production phases → Assigning costs to inventories ) |
| NON-CURRENT ASSETS = [07] + [08] + [09] + [10] + [11] | ||
| 07 | Fixed assets and other non-current assets (Property, plant and equipment) | Cost of property, plant and equipment + Result of revaluation of fixed assets ( Investment plan → Fixed assets and other assets ) + leases ( Financial plan → Operating and financial leases ) ± Cost of fixed assets and other assets ( Settings adjustments and balance → Adjustment table ) |
| 08 | Goodwill | + Goodwill ( Settings adjustments and balance → Adjustment table ) |
| 09 | Intangible assets | Value of intangible assets ± The result of revaluation of intangible assets ( Investment plan → Fixed assets and other assets ) |
| 10 | Investments in associates | Purchasing rights [Assoc. company] + Other receipts [Assoc. companies] ( Investment plan → Investment assets ) |
| 11 | Other assets | Buying property rights - Sale of property rights - Buying rights [Assoc. company] + Contribution of shareholders [Assoc. company] - Other receipts [Assoc. companies + Other securities receipt + Value of revaluation of securities + Other placements of cash and cash equivalents - Other withdrawals of cash and cash equivalents ( Investment plan → Investment assets ) ± Other financial assets ( Settings adjustments and balance → Adjustment table ) + Other operations with additional capital ( Settings adjustments and balance → Adjustment table ) |
| CURRENT LIABILITIES = [14] + [15] + [16] + [17] + [18] | ||
| 14 | Short-term borrowings | Short-term loans receivable ( Financial plan → Credit products ) |
| 15 | Accounts payable | Current debt on other liabilities ( Payable Payments Plan → Calculation of Accounts Payable ) |
| 16 | Current tax liabilities | Current tax arrears ( Plan payment of accounts payable → Calculation of accounts payable ) |
| 17 | Reserves for future expenses and payments | Provisions for short-term liabilities ( Financial plan for Reserves for future expenses ) |
| 18 | Other short-term liabilities | Other short-term obligations ( Settings adjustments and balance → Balance sheet ) |
| LONG-TERM LIABILITIES = [20] + [21] + [22] | ||
| 20 | Long-term loans and borrowings | Long-term loans receivable ( Financial plan → Products ) |
| 21 | Deferred taxes | + Temporary and permanent differences on deferred taxes ( Investment plan → Fixed assets and other assets ) + Deferred tax expense ( Settings adjustments and balance → Adjustment table ) |
| 22 | Other long-term liabilities | Reserves for long-term liabilities ( Financial plan for Reserves for future expenses + ) Financial lease of fixed assets ( Financial plan → Operating and financial leases b)) ± Other financial assets ( Settings adjustments and balance → Adjustment table ) |
| CAPITAL AND RESERVES = [24] + [25] + [26] + [27] + [28] | ||
| 24 | Share capital | Paid-up capital - Paid capital + PAD Paid capital ( Financial plan ) + Shareholders 'contribution [fixed assets and intangible assets] ( Investment plan → Fixed assets and other assets ) + Shareholders' contributions [Assoc. companies] ( Investment plan → Investment assets ) |
| 25 | Reserve capital | Reserve capital: percent (%) of profit or amount ( Settings adjustments and balance → Adjustment table → Reserve capital → receipt / write-off ) |
| 26 | Additional capital | Result of revaluation of fixed assets [revaluation] + Revaluation result of intangible assets [revaluation] + Other receipts of fixed assets and intangible assets ( Investment plan → Fixed assets and other assets) + Other securities receipt + Revaluation price of securities ( Investment plan → Investment assets ) + The value of property, plant and equipment ( Settings adjustments and balance → Adjustment table ) + Goodwill ( Settings adjustments and balance → rektirovok ) ± Additional capital → Other operations ( Settings adjustments and balance → Table adjustments ) |
| 27 | Accumulated profit / loss | Net Profit ( Profit and Loss statement ) ± Percent (%) of profit or amount (Settings adjustments and balance → Adjustment table → Reserve capital gain write-off) - Result of revaluation of property, plant and equipment [markdown] - The result of revaluation of intangible assets [markdown] ( Investment plan → funds and other assets ) |
| 28 | Minority interest | Minority interest in profits ( Profit and Loss statement → Minority interest line ) + Minority interest in equity ± PAD Minority interest in capital ( Financial Plan → Placed equity instruments ) |
() – in round brackets the data source.
Table "adjustments"
In the "adjustments" table, in addition to editable lines, non-editable ones are also presented: from operational, financial and investment plans, as lines containing additional information (the data range is highlighted in blue or purple). The adjustment table opens from the main menu: "Main menu → Settings → Settings adjustments and the balance → bookmark "table adjustments"".
Used adjustments in the table "balance sheet":
| № | Name |
| Current and non-current assets: | |
| Control line | Cash and cash equivalents |
| (07-1) | Prepaid Expenses |
| (07-2) | Set-offs for prepaid expenses |
|
The total sums of all periods in the lines (07-1) and (07-2) must coincide. To do this, you can use, including the "future" period.
| |
| Control line | Cost of fixed assets |
| (08) | Cost of fixed assets |
| (09) | Goodwill |
| (10) | Investments in Associates |
| (11) | Other financial assets |
| Capital and Reserves: | |
| Control line | Profit for the period |
| (12-1) | Reserve capital,% |
| (12-2) | Reserve capital, amount |
|
For directing part of the amount from the profit for the period, the amount (or %) of reserve adds "+", for the write-off of reserve - minus sign. The total amount of all periods in the line (12-2) must be equal to zero: i.e., the reserves eventually need to be either charged or used. For this you can use, including "future" period.
|
|
| Control line | Additional capital (*) |
| Control line | Including-share premium, other revaluations (*) |
| Control line | Including -valuation of assets (*) |
| (13) | Including - other operations |
| Control line | Payouts from profits-on reserves and dividends |
| Control line | Retained earnings (*) |
(*) – the designation of strings in which all values are displayed in cumulative totals.
Table of "initial and updated balance sheet"
The main purpose of this additional table is to set the initial balance at the beginning of the planning period. However, this table can also be used for adjustments of the lines of the balance in the updated periods.
Filling the lines should start with "assets" first, after which the lines of "liabilities" are filled. In the process of filling in the data, the program will itself equalize assets and liabilities. The program will allocate the difference between assets and liabilities to other assets and liabilities.
The initial balance table opens from the main menu: "Main menu → Settings → Settings adjustments and the balance → Balance table tab":
| № | Name |
| Current Assets: | |
| (01) | Cash |
| (02) | Prepaid Expenses |
| (03) | Receivables |
| (04) | Inventories |
| Non-current assets: | |
| (05) | Primary Tools |
| (06) | Intangible Assets |
| (07) | Other assets |
| Current Liabilities: | |
| (08) | Short-term loans |
| (09) | Accounts payable |
| (10) | Tax Debt |
| (11) | Current Reserves |
| (12) | Other current liabilities |
| Long-term liabilities: | |
| (13) | Long-term loans |
| (14) | Other liabilities |
| Capital: | |
| (15) | Share capital |
| (16) | Reserve capital |
| (17) | Additional capital |
| (18) | Accumulated profit (loss) |
| Total assets: | |
| Total capital and liabilities: | |
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Applied and recommended procedures and functions
- If you deleted some data by mistake or performed the action, causing damage to data, exit the program without saving: "Main menu → Project file → quit without saving".
- If you exit the program, save the changes: "Main menu → Project file → Save" (or Ctrl+S). Or use the program exit with saving.
- Periodically back up the data: "Main menu → Project file → Save and backup" or Ctrl+Shift+S. File project saved in the folder "backup", the project name will display date and time of saving. To restore the file, just copy it in system folder («BPlanExpress»).
- If you have several projects (or calculation options), create a template file and, starting a new project, open the template file where your settings or preliminary project calculations are saved, select the menu item: "Main menu → Project file → To create a new project". This will shorten the development time of projects. ☛ Note that a new project is created in the system folder ("BPlanExpress"), which opens by default.
- Complete the final calculation: "Main menu → Data → Calculate". Same - F9.
- Clear table (reset values): "Main menu → Data → Clear table".
- Delete the table (delete all data and settings of the table settings): "Main menu → Data → Delete table".
- Clear the string (reset value): "Context menu (right mouse button) → Clear line."
- Translit: "Main menu → Settings → Translit text tables". Select the translation language.
- Export: "Main menu → Reports → Export to Excel". In the same place - export to Word.
- Financial and investment analysis. Settings parameters of project performance indicators:"Main menu → Settings → Investment analysis".
- Quick graph: "Context menu (right mouse button) → Graph of a line." Before the call, place the cursor anywhere in the row with the desired data. See also «Preparation of reports and business plans. Graphics».
