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Financial statements and annual report

Financial statements and annual report

An accounting unit must disclose in the annual report the principles that have been applied with regard to accounting (classification and recognition), valuation, and recalculation of receivables in the annual report.

An accounting unit must provide information in the annual report on interest-bearing receivables that are valued at accrued acquisition value in terms of, among other things, reported value and accrued interest.

Example: posting accrued interest on a zero-coupon bond (financial statements)
An accounting unit has acquired a zero-coupon bond for SEK 62,092 with a nominal value of SEK 100,000 at maturity and a term of 5 years. The effective interest rate is 10% ((100000/62092)^(1/5)). At the end of the year 2009, the zero-coupon bond was held for 7 months, which is why an accrued interest of SEK 3,622 (62092*10%*(7/12)) must be booked as interest income. The acquisition value of the bond of SEK 62,092 was booked on account 1354.
What Are Loan Proceeds?

Bonds.Example: book accrued interest on the bank account (financial statements)
An accounting unit with a broken accounting year that ends on 31/8 has calculated the interest for the year 2009 regarding a bank account at SEK 40,000. The interest is only credited on 31/12 2009 and therefore the accounting unit reports an accrued interest of SEK 26,666 (40000*(8/12)).

Example: book reversal of accrued interest on the bank account (reversal)
An accounting unit with a broken fiscal year that ends on 31/8 has during the previous fiscal year reported accrued interest income of SEK 26,666, which is now reversed.
Example: posting paid interest on the bank account (direct payment)
An accounting unit has received interest of SEK 46,000 on its bank account as of December 31, 2009, which is now posted.
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