In various companies the utilization of information resources required for management reporting is quite diverse. But the main trend in recent years is the use of special data financial statements and elaboration in connection with, necessary management decisions.
This basic form for any of the accounting reporting and accounting is called the balanceof om. A clear presentation on the overall financial position of the company give the columns and rows in the report that show the state of finances in the firm for a certain period of time. In order to create a balance sheet, it is necessary to summarize all the data in this time period reflect the economic reality of a particular company or company and also they give you a specific forecast for the future.
Basically, the preparation of the balance sheet consists of two main parts: report of assets and liabilities. In order to make a correct balance sheet assets, you need to properly group all of the economic means of the organization by the types and rules of their placement, and to determine the location of these funds by funding source in projects and a shared purpose.
On the liabilities side of the accounting balance reflects the property that in a given time belongs to the organization. This includes the company's fixed assets, various intangible assets, the reserves in case of crisis, cash for receivables, the basic monetary units, and so on.
In a report on the assets is recorded unique information about the main sources of these funds, that is receiving equity, attracted investment funds and various external commitments of the organization. In General, the results for all assets and liabilities in the balance sheet should fully converge.
In addition, create a balance sheet on the basis of the plan, which will be clearly reflected the most complete and reliable information on assets and liabilities of the organization. So you need to check all business transactions of the company during the reporting period and then reflect them in the report.