Forms of accounting reporting, financial, taxation

In order to find out the financial and propertythe state of the enterprise, the legislation developed a special accounting reporting, which systematizes the accumulated data for a certain period of time, and also analyzes the result of economic activity. Information data is distributed in reports in the form of tables.

Who should pass the accounting and how?

Accounting and tax reporting are handed over to allenterprises regardless of whether economic activity was conducted for the specified period or not. It is very important that the reporting forms are filled correctly, as inaccurate data can lead to a fine. The professional accountant should be engaged in filling in the accounting documentation, he also has to know the tax document circulation well.

Varieties of reporting forms

Forms of financial accounting canbe annual and intermediate. At present, it is necessary to submit such documentation once a year. In some cases, companies may require interim reporting, for example, to obtain a loan or to attract other investments. Quite often a quarterly form is provided for participation in various tenders and competitions. Such documents are filled in exceptional cases.

One of the main types of reporting is thebalance sheet. It is a summary table structured on the basis of active and passive articles. This form is an information guide reflecting the economic state of the organization. On it you can get a clear picture of the number of working capital, but you can not analyze the movement of money.

The next important record is the reporton profits and losses. This form of the organization's reporting most graphically reflects the financial result, which is calculated on the basis of analysis of income and expense items. Data show the profitability or loss of the company.

The third most important is the report onchange in capital. Such a register shall be filled in case of a change in the reserve or statutory fund. Also from the table you can find out about the amount of undistributed profits of the organization or uncovered loss.

The cash flow statement will be the lastin a group of important forms of financial reporting. This register most clearly reflects the changes in all funds for a certain period. This form is most often requested by banks when considering a loan application.

All forms of reporting reflect information fairlyconservatively. Confidential information, which should not be made public, remain outside the scope of the document. A summary of the data is the basic principle of filling such registers.

Degree of relevance of accounting documents

Forms of reporting, which are provided fordemand, have a different degree of demand. The most important is the balance sheet. It is provided to the controlling bodies, credit organizations, as well as at the request of contractors when entering into contractual relations.

The second most popular is the report onchange in capital. Such information is often of interest to financial institutions and potential investors. The remaining financial statements are less in demand and are mainly provided only to the tax authorities.

What is tax accounting, and what is its role

Forms of tax reporting are developed forsystematization of the financial and economic activities of the company. Such documents are filled in with respect to the assessed taxes and represent a certain set of tables.

The tax declaration is the final document, inwhich reflects the income and expenses of the taxpayer, as well as the amount of necessary transfers and contributions. Filling out reporting forms depends on the taxation system that the organization uses. The maximum amount of documentation is given by the general regime. Also, the number of completed declarations is often related to the size of the company, activities and number of employees.

Forms of tax reporting are submitted to the territorial control body at the place of registration of the company. Such documentation can also be quarterly and annual.

The most important declarations

The general system of taxation implies the surrender of a rather large number of declarations. In terms of their importance, they can be distributed as follows:

• A declaration of profit is made before the 28th day of the month following the quarter. Such document reflects the company's revenues and expenses, the amount of accrued profits and interest deductions to the budget.
• The report on the value-added tax is issued by enterprises applying the basic taxation regime. This form is provided within twenty days after the end of the reporting period.
• Provided that salaries are paid to employees, the company is obliged to fill in the tax declaration on income of individuals. Such a register is issued once a year until the first of April.
• A declaration of property tax, as well as a report on advance payments are provided to the tax authority by firms that have fixed assets on their balance sheets.

• The transport declaration is filled in case the company is the official owner of the car, which is subject to taxation. This form is annual and surrenders until February 1.
• Land declaration is provided if the organization has ownership or long-term lease on land.

Which forms are optional

Some forms of reporting are filled onlythose enterprises that are legally recognized as payers of such deductions. It can be taxes on gambling, water resources, various excises. Firms applying a simplified taxation system live much easier, since most declarations do not need to be handed over to them. Financial and tax reporting is given in a strictly defined period. The tax authorities closely monitor the failure to comply with such deadlines and, in case of delay, immediately apply penalties.