Presentation of the BRPS general account
The BRPS balance is a bookkeeping document, presented in table format, and giving a global summary of the situation or the financial status at a certain moment in time. The balance is split into two columns with expenditure (active) on the one side and means (passive) on the other. The active side states the list and the value of BRPS's assets, while the passive side states the list and the value of BRPS's third party commitments. The balance is a "snapshot" as it were, of the BRPS's financial position.
The BRPS income statement is a bookkeeping document displaying all costs and income over a certain period in table format. Depending on their nature, the costs and income in the table can be split into three categories: commercial, financial and exceptional costs/income. The final balance is achieved by adding up the three aforementioned categories. This is therefore a summary document aimed at reflecting BRPS's performance. The income statement does not measure financial flows (cashflows), but rather flows that increase or decrease the financial position.
Summary account of budget transactions (SABT)
The SABT is a summary table of budget transactions (expenditure and income) which effectively took place during the year. Expenditure and income are divided according to their destination, based on the economic classification.
Budget implementation account (BIA)
The BIA compares recorded budget credits, both relating to income and expenditure, with what is actually carried out during the year. This account is presented on the basis of the contracts and schemes in the basic allocations.
The BIA annex is a summary table allowing the outstanding commitments at the end of the year to be calculated. Since commitment credits (=estimations) are cancelled at the end of the year, it is necessary to know the amount relating to commitments which were carried out over the past year but were not settled, in order to provide sufficient settlement credits to cover them in the following year.
The BRPS administrative account is a bookkeeping document showing the following information in table format:
- the means available (=cash), realisable values (=if everything is sold) and amounts due (=if everything is paid) on 1 January of the year;
- the income and expenditure as they appear in the BIA;
- the available means, realisable values and amounts due on 31 December of the year.
The total of these three categories should in principle be equal to zero. The administrative account is aimed at demonstrating that the bookings in the general bookkeeping agree entirely with those in the budgetary bookkeeping. Using the administrative account it is possible to ensure that all changes made between the beginning and end of the financial year affecting available / realisable / claimable value are actually booked as budgetary income or expenditure.
Reconciliation (harmonisation) of the year's bookkeeping and budgetary results
Reconciling the bookkeeping and budgetary results is aimed at explaining the differences between the bookkeeping and budget results.