So you're starting to Analyze the Financial Statements. Is studying accounting for a college exam? You're noticing The importance of accounting in your work and is in doubt What is the balance sheet and the demo of the result of the year?
For this channel here can help you. So sign up there, Leave the like in the video And let's understand what they are these two demonstrations. Well, the basic question that you must be doing yourself it's why elaborate These demonstrations?
Where I consult the way I should elaborate and structure the balance sheet and D. R. ?
Well know that here in Brazil Act six 404, also known such as the S. A. Law of the Companies Anonymous, establishes rules for accounting in relation to with the demos Financial.
Taking a look here in the letter of the law. We verified that there in section two, in the article one, 7:30 a. m.
, It is recorded that at the end of each fiscal year should be drawn up financial statements to highlight the heritage of the company. Among these demonstrations is the balance sheet and DRM, demonstration of the result for the year. Already in the article a seven eight We have guidelines how to draw up the balance sheet and how the accounts must be willing in structure.
Already in the article one eight seven We have guidelines About the demo of the result for the year. This law is very important for accounting, But know that she was adjusted, has been updated by two other laws very important too A110038 2007 and A11941 of 2009. There are other laws complementary and also the pronouncements of the CPC that assist in the elaboration of the financial statements.
In the description I'll leave some sources which you can consult more. But let's talk of the balance sheet and the demo of the result for the year. The balance goes demonstrate the equity position and financial on a certain date.
That is, you can understand the swing as a photo, A static demonstration on a specific date. Already the demonstration of the result for the year presents the confrontation of revenues, earnings, costs and expenses and losses of a certain period. See that here is not a date, It's a period.
That is, different of the balance sheet that you can understand, it as a still photo ongoing comprises a period, logo can be compared to a movie. Let me explain it to you better Right. To be clear, I'm drawing here a timeline.
Realize that on that first date here We're going to have a balance on that date, For as we have seen, the balance sheet It's the static demonstration. After a break the period of one year, we'll have another balance sheet and a specific date. Realize that the heritage it can change, but on the balance sheet you see it statically.
If you want to check What happened with the company's results During this period, you must look at it, that will accumulate the revenues, costs and expenses for the entire period. This picture we're making, The analogy the balance sheet, will show the entity's assets on a specific date, That is will show the goods, rights and obligations. If you're not conversant still with accounting, know that this heritage is the object of study of accounting.
Heritage is the set of assets, rights and obligations. The legal entity or physical, currency-valued, Just like you there, who has his heritage, Companies also have and evidence he through the swing Asset. These assets can be divided in material goods or intangible goods, tangible or intangible.
Tangible assets it's all we can touch as physical money, the company car, the building, computer. Intangible assets or immaterial are software, licenses for future use, anyway, that which you can't touch. Rights are the values that the company has to receive from third parties and usually are not available for immediate use.
Someone must pay for the company at a future date. Already the obligations are the values that the company you have to pay for third parties. Also known as debts.
What The balance sheet makes is to organize these goods, Rights and obligations in a systematic way and standardized, so that all companies Send likewise and you can compare. Remembering whenever to organize the balance sheet we make use of the equation of accounting or equity equation, where active equals passive, plus PL or using mathematics. Here the net situation or net worth is equal to assets, which are the goods and rights, minus the obligations.
So, organizing the our heritage, Here we will have active always on the left side, passive on the right side. But the net situation or equity, where the total assets It has to be Total liabilities, plus the Bill, plus the net situation. The structure of the balance sheet must obey an order which is also in the law of S.
A. ; The group of assets within the Balance Sheet should be organized in order of liquidity. Separate into circulating and not circulating.
Liquidity is the ease of an asset in being transformed in cash no significant losses in its value. That is the company's cash on hand is extremely liquid, for she can access it whenever you want. Already the company's real estate, until they are transformed in money, take a while until it is done The sale and the money get in the box.
This classification it is circulating and non-circulating. It's easy to understand. Circulating is all that is achievable in up to 12 months of the date of publication of the balance sheet and non-circulating.
After 12 months from the date of publication of the balance sheet. Considering the date publication of the balance sheet that you are analyzing, 12 months ahead is what the company intends transform that cash asset. So when you go to analyze or elaborate a balance sheet, Keep in mind that there should the assets are listed, Liabilities and equity net of the company.
The asset must be segregated in circulation and not circulating, obeying to the criterion of liquidity. The passive too is segregated into circulating and non-circulating, But here the criterion is of enforceability, i. e.
everything the company has to pay first is net worth. It would be the capital of the partners. That which is not required of third parties is equity of the company.
And inside they accumulate Profit or loss in the different accounts that are recorded there. But only analyze the company by means of photos, that is, of the balance sheet. I can't verify the totality the company's performance for that.
To understand what happened in the period, We use the demo of the result which evidences the result economical. Profit or loss of an entity during a given period. That is The social exercise generally It's equivalent to one year.
For demonstrating all this period is that it's compared to a movie. You should keep in mind that the And it has a structure deductive, i. e.
It starts with gross revenue sales or service, Depending on the activity of the undertaking, and we're deducing of revenue some factors such as rebates, returns, subsequently, costs, expenses, until we get to in the result of the period. Realize that during that one-year period I'll have A review of the beginning of the year and a review of the end of the year. Throughout the exercise, The company was operating That is carrying out your activity selling and earning revenues.
That way, RM will register all recipes, deduct costs from expenses, arrive at the profit of the period. That profit it will be incorporated to heritage, to the balance sheet. At the end of the financial year, through the calculation of the result for the year.
Realize that, different the balance sheet, every year DRM have your accounts zeroed and the following year she starts recording a new competence, different from the balance sheet patrimonial, which carries the balance of the accounts from one exercise to the next. Nothing lol. Every year we were ascertained results and we incorporate into the heritage.
This elaboration of DERRE annually obeys the principle of competence in accounting. If you don't know, Leave in the comments what we can do A video on the subject. At the end of all deductions, We arrived at the result net of the period that will be incorporated to the balance sheet After calculation of result in specific accounts of shareholders' equity and it stays there, being accumulated Throughout the ages, Working for growth of heritage of the company's shareholders.
Should she be at a loss Successive we can have the situation of overdraft liabilities. Important to highlight that, to make the records In these two demonstrations, we We use separate accounts. Accounts are elements Assets and Results used in accounting to make the records.
The accounts of the balance sheet are accounts patrimonial, that is, the passive asset is net worth. Those are the big groups of the balance sheet and are composed of accounts analytical and synthetic. The income statement of the exercise comprises accounts in revenue groups, costs and expenses.
If you don't know what they are accounts or a chart of accounts, comment there that we can help you in an upcoming video. That was an overview of the balance sheet and the demo of the result for the year. It's not that hard understand these two statements and we're here to help you.
If you don't get it some concept, some speech, Leave in the comments which we will explain later. Here on the channel We have a playlist focused Just for basic concepts and advanced accounting. He's appearing on the card at the top And it will stay in the description.
I hope have helped with this video so that you understand a little more of the language of business that It's the accounting around here. I appreciate it for you to have watched and See you in the next one. Hug.
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