Accounting balance sheet

ACCOUNTING BALANCE SHEET WITHIN THE USSR (RU: бухгалтерский баланс) is the system for the summarized representation in the monetary form for the condition of the business assets, and of the sources of their forming, throughout the productive consortium, independently financed enterprise (organization, institution) at the determined date, with the purpose of the monitoring of the activity of each segment of the national economy.

In the methodological sense, the accounting balance sheet is the method for the summarized representation, and for the economic grouping, in terms of the monetary evaluation, for the assets of the business, according to the types and sources of their forming, at the certain date (at the 1st day of each month). The accounting balance sheet is the major form of the accounting reports; it is compiled on the basis of the data from the accounting records. The accounting balance sheet comprises the two parts: the assets, which are representing the grouping of the funds according to the composition, placement, and usage, and the liabilities, which are indicating their grouping according to the sources of the forming, and according to the intended purpose.

There exists the standard form for the accounting balance sheet, which has been approved by the Ministry for the Finances of the USSR, and by the CSB (Central Statistical Bureau) of the USSR. Each part of the accounting balance sheet comprises the five sections, which are divided into the groups and articles according to the business funds and their sources. All the indicators within the accounting balance sheet are represented at the start of the year, and at the end of the reporting period (month, quarter, year). The analysis of the accounting balance sheet permits to evaluate the results of the financial-business activity of the productive consortium, of the independently financed enterprise (institution, organization), and the effectiveness of the usage of the governmental funds, which have been provided to this organization.