The balance test must start with the correct procedure of preparation of the balance sheet, that is, whether the name part of a full name of the organization address specified as the reporting date or period, type of activity, identification number and legal form of ownership.
The audit of the balance sheet should pay attention to the observance of the identity indicators count at the beginning and end of the reporting period, as content parameters, and item articles. That is, you need to install, adhered to the requirements of comparability and consistency.
To confirm items, you must reconcile General Ledger and balance sheet figures using the data of accounting registers. This procedure allows to identify possible deviations on individual articles.
The balance sheet must be true, so the entries in it are made on the basis of the documents confirming the facts of economic life organization. The balance must be supported by inventory, and between the actual balances and accounting data discrepancies may occur. In order to ensure that the remains of the inventory items listed in the accounts actually exist, it is necessary to inventory.
Unity of balance is to build it on uniform principles of evaluation and accounting that is applied in all divisions of the company uniform nomenclature of accounts of accounting, correspondence, and the same content of accounts. The balance must be successive, that is, each subsequent balance sheet should follow from the previous one.
Basic funds must be accounted for at historical cost, which consists of the actual costs of construction, delivery, installation, customs fees, etc. If the amount of depreciation deducted from the original cost, you get a residual value on which the basic means should be reflected in the balance sheet.
Intangible assets are carried at residual value. The existence of assets must be verified on the basis of inventory lists, cards, and the actual availability. To confirm that no unrecorded funds necessary to carry out the actual validation.
Balance should not contain blots or erasures.
Before the balance sheet will be approved by management, it is necessary to inventory all of the organization's funds.