I realise this is not something the developers can realistically do, but I wonder if anyone has configured GnuCash to produce a balance sheet that looks like one that would be submitted to Companies House in the UK? (I attached a copy of mine, without obfuscating it, since the data can be found online at Companies House).
Whenever I pick up a book on accounting, it normally shows something like this. 1) Adds up all the fixed assets, and gives a total for fixed assets. 2) Adds up all the current assets, and gives a total for current assets 3) Adds the fixed and current assets to get a total of *all *assets That all seems very logical to me. *But a balance sheet submitted to Companies House does not show the total assets.* One would have to get a calculator out to work them out, by adding the fixed assets and current assets. I thought this very weird, and perhaps just a bizarre way my accountant produces the balance sheet, so I checked another UK company. That was exactly the same. The balance sheet is prepared in accordance with FRS 102. That's a 404 page document https://www.frc.org.uk/getattachment/69f7d814-c806-4ccc-b451-aba50d6e8de2/FRS-102-FRS-applicable-in-the-UK-and-Republic-of-Ireland-(March-2018).pdf with numerous amendments (some related to coronavirus). Realistically, that's only going to be readable by someone with a good knowledge of accounting - not an engineer/scientist like me. So I did not bother looking at that. Looking down the balance sheet for my company I see the following in order 1) Tangible Fixed Assets 2) Current Assets 3) Creditors amounts falling due within one year. 4) Net current liabilities (that's equal to #2 - #3) 5) Total assets less current liabilities (that's #1 + #2 - #3) 6) Provision for liabilities - I can't work out how that's calculated, but I see it is of uncertain timing and amounts. I guess I should ask my accountant how he came up with the figure. (*With the usual disclaimers, does anyone know whether that would be sensibly listed in GnuCash as a liability, despite its only an estimate?*) 7) Net assets (I can't work out how that's arrived at) 8) Shareholders - same as net assets. I think I will write myself a computer program, that tries every combination of figures to arrive at others. I think if I add every combination, I will get there eventually. I have a computer with two 26-core CPUs and 384 GB RAM, so I should just about have enough computer power. 😂 I'm thinking there's a good chance that someone in the UK has decided to make his/her balance sheet the same, despite it seems rather obscure. Dave
Accounts-Year-Ending-2021.pdf
Description: Adobe PDF document
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