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Abstract

The content

Introduction

In the conditions of formation and development of market relations, equity provides financial stability of the company's operation. It forms the financial basis for beginning and continuing economic activity of any enterprise. In case of liquidation of the enterprise, reflected in its financial statements, equity is a source of information for external users about state of the company's assets and liabilities. Dynamics of equity – one of the most significant and important indicators, as it reflects the ability of the company to maintain the efficiency of its economic activity activities.

The creation of equity management technologies is now an integral part of operation of the enterprise, due to the fact that the management of equity allows you to provide efficient use of resources, as well as helps to competently form their own financial resources, ensuring the future development of the company.

1. Theme urgency

The relevance of the research topic is based on the need for management of an economic entity. assume which sources of resources will be used to carry out the activities and which areas will be covered invest the company's capital.

The company's property is represented by various forms of investment & ndash; holders of property rights. subjects'. The rights of each owner to the property of the enterprise and to participate in its profits are determined by the shares and a form of investment. They should be clearly reflected depending on their types and sources of formation, direction of use. The accuracy of this information must be confirmed during the state audit of capital for all its structural elements, which will guarantee the protection of the owner's rights and the efficiency of the company's operation both at the level of the business entity and at the level of the state is the company's own capital.

Analysis of the formation and use of equity in organizations is currently particularly important relevant, since the analytical services of organizations develop and apply analysis methods to determine financial and economic situation.

2. Goal and tasks of the research

The purpose of the master's thesis is to study the organization of accounting and public administration audit of the company's own capital, as well as identification of internal reserves for its optimization.

To achieve this goal, the following tasks were set and completed:

  1. determine the theoretical basis of accounting and audit of the company's equity;
  2. consider the organization of accounting for the company's own capital;
  3. to investigate the mechanisms of state audit of equity capital.

Object of research: financial and economic activities of the enterprise related to the formation and use of equity in the enterprise.

Subject of research: accounting and state audit of the formation and use of the company's own capital.

The theoretical and methodological basis of the work is the scientific works of Russian authors on the following issues formation and use of the organization's own capital, legal and regulatory framework regulating operations with equity capital in the Republic, data of enterprises and information obtained from open sources Internet sources on the problems of the study.

The scientific novelty of the obtained results lies in the theoretical justification and development organizational, methodological and practical recommendations for improving accounting and public administration audit of the company's equity.

3. Company's equity: structure, formation and use

3.1 Research and development overview

The concept of equity is widely used in modern economic literature and research this category is devoted to a lot of scientific works of both domestic and foreign scientists-economists.

The most accurate definition of the concept of capital was given by K. Marx. In his writings, Karl Marx indicated that capital is self-moving money, self-moving value[1].

Thus, Marx considered capital as a socio-economic category, an integral part of labor theory costs. Capital – self-increasing value that is created by employees.

V. V. Sopko gives the following definition of equity: equity as an object of accounting – this Is the company's own sources, which are made by the founders – individuals without determining the return period or legal entities or left by them (founders) in the enterprise with profit after tax [4].

F. F. Butynets, A. p. voynalovich and I. L. Tomashevskaya understand the total cost of funds under their own capital the company owned by it on the rights of ownership and is the source of the formation of assets [5].

B. p. Kudryashov believes that < q>the company's capital is the cost of material values, financial investments and funds required to support the business activities of the company [9]. At the same time, according to the Foreword to International accounting standards published by the Committee according to international accounting standards in November 1982, capital represents the difference between assets and liabilities. According to NP (C)B U 1 General requirements for financial statements, as well as IFRS b section Principles of preparation and preparation of financial statements capital is defined as part of assets the company remaining after deducting all its liabilities.

D. mill understood capital as a previously accumulated stock of the products of past labor [6].

S. V. Mocherny defines capital as a production relation in which the tools of labor defined by material goods, exchange values are a means of exploitation, appropriation of part of someone else's unpaid labour's [7].

V. A. Gavrilenko considers equity in terms of its physical and abstract components [8].

Thus, based on the conducted research, it can be concluded that in the modern economic literature there is no single view on the content of equity and its internal economic essence. It should be noted, that there is no single methodological approach to its accounting and state audit.

Uncertainty of theoretical interpretations of the indicated indicator, differences in practical aspects of its use makes it difficult to quickly and objectively assess the results of the company's activities, the competitive position of the company, and strategic directions of its development.

3.2 The essence and content of equity as an object of accounting and state audit

The concept of capital is associated with the concept of property. At the moment of creation of the enterprise its starting point capital is embodied in the assets invested by the founders (participants), and represents the value property of enterprise. Property consists of a variety of tangible, intangible and financial assets resources – holders of property rights of individual entities, as well as the share of invested funds. Equity is a guarantee of business organization.

An enterprise must have a certain amount of capital to ensure its economic activity.

Capital has the following characteristics:

  1. it is the main factor of production;
  2. describes the financial resources of an enterprise that make a profit;
  3. is the main source of wealth formation for owners;
  4. is the main indicator of the company's market value;
  5. its dynamics is an important indicator of the level of efficiency of economic activity of the enterprise.

The amount of equity – is the abstract value of property that is not its current or realizable value, and therefore it does not reflect the current value of the rights of the owners of the enterprise. The amount of equity is significantly affected by the valuation of assets and accounts payable in accounting the amount of debt that was applied when the company was created, although it may sometimes coincide with the total amount the market value of the company's shares or the amount that can be obtained from the sale of net assets. or the company as a whole.

As a methodological basis for calculating the size of the current capital of the enterprise, it is necessary to use the basic balance equation, as well as the capital balance equation (Figure 1):

Assets = Capital + Liabilities
Basic balance equation

Figure 1 – Basic balance equation

Equity is the basis for starting and continuing the business of any enterprise, it is one of the most significant and important indicators, because it performs the following functions:

  1. independence and power – the amount of equity determines the degree of independence and influence of its owners on the enterprise;
  2. liability and protection of creditors ' rights – reflected in the company's balance sheet equity is for external users a measure of liability relations in the company, as well as protection of creditors from loss of capital;
  3. long-term lending – is available to the company for an unlimited time; risk financing & ndash; equity is used to Finance risky investments, which may not be accepted by creditors;
  4. creditworthiness when granting a loan, other things being equal, the advantage is given to enterprises with smaller accounts payable and large equity capital; compensation for losses incurred – temporary losses must be repaid at the expense of equity;
  5. the distribution of income and assets – the share of individual owners in the capital is the basis for the distribution of the financial result and property in the liquidation of the enterprise.

An enterprise is created for the purpose of making a profit and it can only realize this goal if it is saved their capital. Equity is formed in two ways: by the owners of the enterprise cash and other assets; accumulation of the amount of income that remains in the enterprise.

The structure of equity is represented by the following categories:

Registered capital – a legally formed, officially declared and duly registered part of the owners contributions to the company's capital. In its composition, there are:

  1. authorized capital – fixed in the constituent documents the total value of assets that are the contribution of the owners (participants) to the capital of the enterprise. Characterizes the initial amount of the company's equity invested in the formation of its assets for the start of economic activity. It is one of the most important indicators for getting an idea of the size and financial condition of economic entities. This is one of the most stable elements of the organization's own capital, since changes in its value are allowed in a strictly defined order established by law.
  2. share capital – is a set of funds of individuals and legal entities voluntarily placed in the company for the implementation of its economic and financial activities.

Equity in revaluations – the amount of increase in equity as a result of revaluation of non-current assets and financial instruments that are recorded in equity in accordance with national accounting regulations (standards). Capital in pre-valuations is reduced in the case of markdowns and Disposals of these assets, reducing their utility, and so on.

Additional capital is the amount by which the cost of selling issued shares exceeds their nominal value, as well as the value of assets received by the company free of charge from other legal entities or individuals.

this type of capital is Formed by: receiving property and funds from legal entities and individuals free of charge, issuing additional shares or increasing the nominal value of shares, increasing the value of non-current assets created from the company's profits or funds, reflecting positive exchange rate differences on foreign investors deposits in the authorized capitals of Republican enterprises, etc.

the Reserve capital. It is a reserved part of the company's equity capital intended for internal insurance of its economic activities. Reserve capital is a so-called reserve financial source, which is created as a guarantee of uninterrupted operation of the enterprise and compliance with the interests of third parties.

retained earnings (uncovered loss) – the amount of profit reinvested in the enterprise or the amount of uncovered loss.

the Withdrawn capital is the actual cost of shares of its own issue or shares purchased by the joint-stock company from its participants.

Unpaid capital the amount owed by owners (participants) for contributions to the authorized capital. The initial amount of the authorized capital is equal to the value of property (fixed assets, materials, raw materials, goods, intangible assets) and assets of the enterprise. The following contributions to be made by the founders of the company are reflected as obligations of the participants. At the same time, it is important to assess the actual contribution of participants when they make fixed assets or inventory items, since there are often cases of overestimation of their value.

in each field of activity, in each branch of the economy, accounting and state audit of equity has specific features. Understanding the specifics of the company's capital structure allows you to not only manage it better, but also focus on what should ensure its effective use.

Equity consists of 8 components (Figure 2).

Equity structure

Figure 2 – Equity structure
(animation: 5 frames, an infinite number of repetitions, 128 kilobytes)

3.3 Areas of state audit of the company's equity

When organizing the accounting of equity capital in an enterprise, there may be situations where internal control is not sufficiently effective, there may be contradictions in the current legislation, there may be controversial issues in certain areas of equity accounting that require clarification, and sometimes changes in the accounting rules. Identification of deviations, consideration of such situations and search for their solutions is the main goal of the state audit organization.

Changes in the authorized capital:

  1. determining the amount of authorized capital;
  2. formation of the authorized capital and its registration;
  3. determining the number of shares;
  4. share issue;
  5. subscribe to promotions;
  6. distribution of shares among shareholders by quantity and value;
  7. payment for shares;
  8. change in the nominal value of shares;
  9. cancellation of purchased shares.

Changes in equity in revaluations:

  1. revaluation of non-current assets;
  2. markdown of non-current assets after their revaluation.

Changes in additional capital:

  1. occurrence of issue income;
  2. income (loss) from reselling shares at a price above (below) the par value;
  3. additional contributions from founders;
  4. exchange rate differences when investing in foreign currency capital;
  5. received non-current assets for free.

Changes in reserve capital:

  1. increase in reserve capital due to deductions to it;
  2. write-off of uncovered losses at the expense of reserve capital.

Changes in retained earnings:

  1. reflection of the Issuer's financial result;
  2. distribution of financial results (current profit) at the enterprise in the following areas: payment of dividends to the company's shareholders, replenishment of reserve capital, increase in authorized capital, replenishment of various funds, covering losses of previous periods;
  3. profit distribution among investors: distribution of the profit allocated for dividends and the rest of the profit;
  4. analysis of retained earnings: determining the share of earnings, calculating earnings per share, calculating dividends per share.

Changes in withdrawn capital:

  1. withdrawal of capital due to the exit of the founders;
  2. repurchase of own issue shares;
  3. resale of repurchased shares of its own issue;
  4. cancellation of purchased shares.

Changes in unpaid capital:

  1. appearance of participants ' debt on formation of authorized capital;
  2. transfer of assets by founders to the account of contributions to the authorized capital.

Conclusions

the volume of production and its efficiency determine the size, composition and structure of the company's financial resources. In turn, the amount of financial resources depends on the growth of production and socio-economic development of the enterprise. The availability of financial resources and their effective use determine the financial well-being of the enterprise: solvency, liquidity, and financial stability.

Search for financial sources of enterprise development, ensuring effective investment of financial resources becomes important in the work of financial services of the enterprise in a market economy.

the Practical significance of the results of the study determined that the application is developed in the master thesis guidelines and methods of organization of accounting and public audit of equity capital will increase and increase of efficiency of use of the accumulated sources of own capital of the enterprise.

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