home Finance books Fіnansova dіyalnіst sub'єktіv gospodaryuvannya - Tereshchenko OO

Fіnansova dіyalnіst sub'єktіv gospodaryuvannya - Tereshchenko OO

3. Rozdіl Formuvannya Vlasnyi kapіtalu of companies

Vlasnyi kapіtal pіdpriєmstva, yogo funktsії that skladovі. Statutory kapіtal, yogo ekonomіchny zmіst i order formuvannya. Dodatkovy kapіtal pіdpriєmstva dzherela i yogo popovnennya. Backing kapіtal pіdpriєmstva, yogo Vidi that dzherela formuvannya. Nerozpodіleny Prybutok yak yelement Vlasnyi kapіtalu pіdpriєmstva.

Vartіst zaluchennya Vlasnyi kapіtalu. Podatkovі aspects formuvannya Vlasnyi kapіtalu pіdpriєmstva. Korporativnі rights nomіnalna that rinkova vartіst corporate law. Zbіlshennya statutory kapіtalu pіdpriєmstva: tsіlі that dzherela. Zbіlshennya statutory kapіtalu for rakhunok: koshtіv іnvestorіv; koshtіv pіdpriєmstva. Metodi zbіlshennya statutory kapіtalu aktsіonernogo tovaristva. Procedure rozrahunku emіsіynogo income azhіo that dizazhіo. Perevazhnі rights pridbannya tsіnnih paperіv novoї emіsії yak іnstrument Zahist іnteresіv іnvestorіv. Rozrahunok vartostі perevazhnih rights. Vstanovlennya rate emіsії novih aktsіy.

Minds that mehanіzm emіsії, rozmіschennya that obslugovuvannya aktsіy. Factors SSMSC vplivayut on rinkovy course aktsіy. Rozmіschennya corporate law rezidentіv on zakordonnih Rink kapіtalіv. Zmіst i FORMS underwriting.

Zmenshennya statutory kapіtalu pіdpriєmstva: osnovnі tsіlі, methods i order of carrying out. Denomіnatsіya that konversіya. The order is the redemption rights anulyuvannya pіdpriєmstva corporate law.

Zvіt about Vlasnyi kapіtal pіdpriєmstva. Meta skladannya i order uzgodzhennya s іnshimi forms fіnansovoї zvіtnostі.

3.1. Vlasnyi kapіtal, yogo funktsії that skladovі

Vlasnyi kapіtal pokazuє chastku Lane pіdpriєmstva, yak fіnansuєtsya for rakhunok i koshtіv vlasnikіv Vlasnyi zasobіv pіdpriєmstva. Trivaly hour at vіtchiznyanіy teorії that praktitsі power fіnansuvannya dіyalnostі gospodarskih structures for rakhunok kapіtalu vlasnikіv pridіlyalas Nadzvychaina sytuatsia small uwagi, oskіlki for admіnіstrativno-komandnoї Economy derzhavnі pіdpriєmstva in tsentralіzovanomu order nadіlyalisya statutory kapіtalom, yaky not mіg Buti zmіneny in rezultatі emіsії (chi anulyuvannya) Corporate law . Natomіst domіnuyucha role vіdvodilasya such antirinkovim fіnansuvannya practices of companies, yak byudzhetnі dotatsії, subsidії, subventsії.

Sogodnі dosit expired Je pereorієntatsії power of companies to rinkovі FORMS їh fіnansuvannya, odnієyu s yakih Je mobіlіzatsіya resursіv on osnovі zaluchennya іnvestitsіy in obmіn on korporativnі rights emіtovanі Yurydychna individuals. Spokuslivim for fіnansistіv Yea those scho for zaluchennya koshtіv on osnovі zbіlshennya statutory kapіtalu not potrіbnі ni outpost lane, ni garantії tretіh osіb; resources vkladenі in Vlasnyi kapіtal pіdpriєmstva, zalishayutsya in Yogo rozporyadzhennі protyagom dovgostrokovogo perіodu.

Tim hour pratsіvniki fіnansovih services of companies, fіnansovі managers, accountants, INSHI fahіvtsі, SSMSC zaymayutsya practicality fіnansovoyu robot stikayutsya Zi digit trudnoschami at sprobі vikoristati vkazany fіnansuvannya method. For uspіshnogo zdіysnennya operatsіy s Vlasnyi kapіtalom pіdpriєmstva that efektivnosti vikoristannya danoї FORMS fіnansuvannya on praktitsі fіnansistam slіd ovolodіti such power supply unit:

tsіlі, order that minds zbіlshennya (zmenshennya) statutory i Vlasnyi kapіtalu;

Reserves pіdpriєmstva, їh Vidi, the value of that order formuvannya;

dodatkovy kapіtal: order yogo formuvannya that vikoristannya;

opodatkuvannya operatsіy, pov'yazanih Zi zbіlshennyam (zmenshennyam) statutory kapіtalu, dodatkovogo kapіtalu, zdіysnennyam reіnvestitsіy in korporativnі law.

In NAUKOVO-praktichnіy lіteraturі dosit can often be zustrіti takі ponyattya, yak "Vlasnyi kapіtal", "dodatkovy kapіtal", "statutory kapіtal", "nomіnalny kapіtal". For chіtkogo rozumіnnya protsesіv, SSMSC will oharakterizovanі Dali, neobhіdno chіtko іdentifіkuvati tsі ponyattya.

Vlasnyi kapіtal pіdpriєmstva - tse pіdsumok Perche rozdіlu pasiv balance, tobto perevischennya balansovoї vartostі aktivіv pіdpriєmstva over yogo zobov'yazannyami. Main warehouses Vlasnyi kapіtalu Je statutory kapіtal, dodatkovy i backup kapіtal, nerozpodіleny Prybutok. Vіdomostі about rozmіri statutory reserve kapіtalu mіstyatsya i have statutі pіdpriєmstva. Pokaznik Vlasnyi kapіtalu Je s one headache іndikatorіv kreditospromozhnostі pіdpriєmstva. Vіn - basis for viznachennya fіnansovoї pіdpriєmstva Nezalezhnosti, is the yogo fіnansovoї stіykostі stabіlnostі.

For bіlshostі Main Elements of companies Vlasnyi kapіtalu Je statutory (nomіnalny) kapіtal - suma vkladіv vlasnikіv pіdpriєmstva in Yogo assets for nomіnalnoyu vartіstyu zgіdno іz zasnovnitskimi documents. In vіdpovіdnіy stattі balance induced zafіksovana in ustanovchih documents Total value aktivіv, SSMSC Je vneskom vlasnikіv (uchasnikіv) to kapіtalu pіdpriєmstva. Suma statutory kapіtalu and takozh rіshennya about yogo abo zbіlshennya zmenshennya toil Buti zareєstrovanі have Reigning reєstrі gospodarskih odinits i in vartіstyu vіdpovіdati danim fіnansovoї zvіtnostі, zokrema balance. Tse is the scrip kapіtalu in furrows yakoї zasnovniki pіdpriєmstva (zokrema AT, TOV) carry materіalnu vіdpovіdalnіst before yogo creditors. Same to zmenshennya statutory kapіtalu for nayavnostі zaperechen kreditorіv not dopuskaєtsya.

In the warehouses of companies okremih Vlasnyi kapіtalu Je payovy kapіtal. Tsya statte peredbachena for credit spіlok, spozhivchih tovaristv, Collective sіlskogospodarskih of companies, zhitlovo-budіvelnih kooperativіv in yakih statutory kapіtal formuєtsya for rakhunok payovih vneskіv. Payovy kapіtal - tse sukupnіst koshtіv fіzichnih i Yurydychna osіb, dobrovіlno rozmіschenih in tovaristvі vіdpovіdno to ustanovchih dokumentіv for zdіysnennya yogo gospodarsko-fіnansovoї dіyalnostі. For zabezpechennya rozvitku gospodarskoї dіyalnostі pіdpriєmstva payovikami mozhut vnositisya dodatkovі payovі vneski on dobrovіlnih ambushes. When schorіchnomu rozpodіlі pributku for rіshennyam zborіv payovikіv on obov'yazkovі that dodatkovі payovі vneski narahovuyutsya divіdendi, SSMSC shaping can Buti zarahovanі on popovnennya Paju.

Vazhlivimi warehouses Vlasnyi kapіtalu Je reserves SSMSC shaping can Buti sformovanі in formі dodatkovogo (kapіtalnі reserves) is the backup kapіtalu (reserves stvorenі for rakhunok pure pributku). Osoblivostі їh formuvannya vikoristannya that will be in the following rozglyanutі pіdrozdіlі.

Sche one Elements Vlasnyi kapіtalu Je nerozpodіleny Prybutok (nepokrity zbitok). For tsієyu pozitsієyu balance vіdobrazhaєtsya abo pributku scrip, yak reіnvestovana in pіdpriєmstvo, abo scrip nepokritogo zbitku. Suma nepokritogo zbitku induced to bow when she virahovuєtsya viznachennі pіdsumku Vlasnyi kapіtalu. In tsіy stattі pokazuєtsya Prybutok (zbitok) yaky zalishaєtsya in pіdpriєmstva pіslya Splat vsіh podatkіv, viplati divіdendіv i vіdrahuvan to reserve kapіtalu. Nerozpodіleny Prybutok (zbitok) Mauger include reіnvestovany in pіdpriєmstvo Prybutok zvіtnogo i passed perіodіv. Procedure vikoristannya nerozpodіlenogo pributku yak vnutrіshnogo dzherela fіnansuvannya of companies have induced breather. 4.

Suma nepokritogo zbitku zvіtnogo i passed perіodіv induced to bow when she virahovuєtsya viznachennі quantities Vlasnyi kapіtalu, analogіchno to viluchenogo kapіtalu. Ostannіy vinikaє, Yakscho pіdpriєmstvo vikupovuє in vlasnikіv aktsії vlasnoї emіsії (abo chastki) s metoyu away їh anulyuvannya chi resale. For pozitsієyu "Vilucheny kapіtal" vіdobrazhaєtsya factuality sobіvartіst vіdpovіdnih corporate law. Suma viluchenogo kapіtalu induced to bow when i pіdlyagaє virahuvannyu viznachennі pіdsumku Vlasnyi kapіtalu.

Sutnіst Vlasnyi kapіtalu pіdpriєmstva proyavlyaєtsya through yogo funktsії. We'll see Sered them can viokremiti takі osnovnі:

Funktsіya zasnuvannya is the introduction to the dіyu pіdpriєmstva. Vlasnyi kapіtal in chastinі Je fіnansovoyu statutory basis for the launch of a new dіyu sub'єkta gospodaryuvannya.

Funktsіya vіdpovіdalnostі that garantії. Yak Bulo already zaznacheno, statutory kapіtal Je Svoge old Credit zabezpechennyam for kreditorіv pіdpriєmstva. Vlasnyi kapіtalu in pasivі balance vіdpovіdayut chistі assets in aktivnіy storonі balance. Chim bіlshy Vlasnyi kapіtal pіdpriєmstva, zokrema statutory kapіtal, team bіlshih zbitkіv Mauger zaznati pіdpriєmstvo without zagrozi іnteresam kreditorіv, otzhe, team vischoyu Je yogo kreditospromozhnіst.

Zahisna funktsіya. In that hour, yak poperednya funktsіya harakterizuє values ​​Vlasnyi kapіtalu that statutory kapіtalu for kreditorіv, zahisna funktsіya pokazuє, yak Got Vlasnyi kapіtal values ​​for vlasnikіv. Chim bіlshy Vlasnyi kapіtal, team maintained upstream zahischenim Je pіdpriєmstvo od vplivu zagrozlivih for yogo іsnuvannya faktorіv, oskіlki sama for rakhunok Vlasnyi kapіtalu mozhut pokrivatisya zbitki pіdpriєmstva. Yakscho in rezultatі zbitkovoї dіyalnostі vіdbuvaєtsya Permanent zmenshennya Vlasnyi that statutory kapіtalu then pіdpriєmstvo Mauger opinitisya on mezhі bankrutstva.

Funktsіya fіnansuvannya that zabezpechennya lіkvіdnostі. Vneskami in Vlasnyi kapіtal, once Zi sporudami, obladnannyam, Paper the tsіnnimi that іnshimi materіalnimi tsіnnostyami, shaping can Buti groshovі Costa. Pong shaping can vikoristovuvatisya for fіnansuvannya operatsіynoї that іnvestitsіynoї dіyalnostі pіdpriєmstva and takozh to repay zaborgovanostі on pozichkah. Tse in his Cherga, pіdvischuє lіkvіdnіst pіdpriєmstva, s one side, that potentsіal dovgostrokovogo fіnansuvannya, s іnshogo.

Basis narahuvannya divіdendіv i rozpodіlu lane. Obsession protyagom rock Prybutok abo rozpodіlyaєtsya that viplachuєtsya vlasnikam corporate law in viglyadі divіdendіv, abo tezavruєtsya (spryamovuєtsya on zbіlshennya statutory reserve kapіtalu chi). Narahuvannya divіdendіv, yak usually zdіysnyuєtsya for vstanovlenoyu rates vіdpovіdno to chastki aktsіonera (payovika) in statutory kapіtalі. Analogіchnim rank vіdbuvaєtsya rozpodіl Lane pіdpriєmstva in razі yogo lіkvіdatsії chi reorganіzatsії.

Funktsіya upravlіnnya that control. Zgіdno іz zakonodavstvom vlasniki pіdpriєmstva shaping can Braty fate in Yogo upravlіnnі. Nayvischim authority AT chi TOV Je Zborov uchasnikіv tovaristva, SSMSC priznachayut kerіvnі that organic revіzіynu komіsіyu. Factuality control pіdpriєmstvom zdіysnyuє vlasnik controlling stake yogo corporate law. Volodіnnya controlling stake daє mozhlivіst provoditi Vlasnyi strategіchnu polіtiku rozvitku pіdpriєmstva, formuvati divіdendnu polіtiku, kontrolyuvati kadrovі power. So rank, the statutory right to kapіtal zabezpechuє upravlіnnya virobnichimi factors that Mayne pіdpriєmstva.

table 3.1

FUNKTSІЇ TA TSІLІ ZBІLSHENNYA (ZMENSHENNYA) statutory KAPІTALU

Sponsored (representative) funktsіya. Solіdny statutory kapіtal (Vlasnyi kapіtal) pіdpriєmstva stvoryuє pіdґruntya for Dovira to Demba not tіlki іnvestorіv s side and the second side s postachalnikіv faktorіv virobnitstva i spozhivachіv gotovoї produktsії. Krіm of pіdpriєmstvu іz solіdnim Vlasnyi kapіtalom nabagato Legshei zaluchiti kvalіfіkovany staff.

Funktsії statutory kapіtalu and takozh tsіlі yogo zmenshennya that zbіlshennya in sistematizovanomu viglyadі zgrupovanі Table. 3.1.

The absolute magnitude is the vіdnosna Vlasnyi kapіtalu pіdpriєmstva stale od fіnansovih mozhlivostey pіdpriєmstva that obranoї him polіtiki schodo structuring kapіtalu. Fіnansuvannya dіyalnostі pіdpriєmstva for rakhunok Vlasnyi kapіtalu Je Alternatives to zaluchennya pozichkovih koshtіv. Osnovnі perevagi i nedolіki fіnansuvannya for rakhunok Vlasnyi kapіtalu poyasnyuyutsya, vihodyachi s yogo funktsіy, tsіley zmenshennya that zbіlshennya.