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Fіnansova dіyalnіst sub'єktіv gospodaryuvannya - Tereshchenko OO

7.3.2. Zlittya that priєdnannya

In ryadі normative aktіv mozhna zustrіti rіznі pіdhodi viznachennya to understand "zlittya" that "priєdnannya". So, zgіdno s P (C) BO pid zlittyam slіd rozumіti ob'єdnannya of companies (Shlyakhov stvorennya novoї yuridichnoї individuals abo priєdnannya of companies to head pіdpriєmstva) in rezultatі yakogo vlasniki (aktsіoneri) of companies, scho ob'єdnuyutsya, zdіysnyuvatimut control usіma clean assets of companies ob'єdnanih s metoyu dosyagnennya away spіlnogo rozpodіlu rizikіv i od vigіd ob'єdnannya. When tsomu zhodna іz storіn not Mauger Buti yak viznachena pokupets.

For such pіdhodom nіvelyuyutsya osnovnі vіdmіnnostі mіzh priєdnannyam i, Vlasnyi, zlittyam, SSMSC peredbachayutsya іnshimi regulations oskіlki guidance viznachennya "zlittya" mіstit characteristics yak reorganіzatsії Shlyakhov zlittya so i reorganіzatsії priєdnannyam.

In traditsіynomu rozumіnnі * 2 zlittya oznachaє pripinennya dіyalnostі dvoh abo yak kіlkoh of companies that transfer Yurydychna osіb nalezhnih їm aktivіv i pasivіv (Mainova rights zobov'yazan i) to pravonastupnika, yaky stvoryuєtsya in rezultatі zlittya. Buhgalterskі balance of companies at tsomu konsolіduyutsya.

* 2: {Div .: The Law of Ukraine "On banks i bankіvsku dіyalnіst" od 07.12.00.}

Priєdnannya oznachaє pripinennya dіyalnostі one pіdpriєmstva yak yuridichnoї individuals that transfer nalezhnih Yomou aktivіv that pasivіv (Mainova rights that zobov'yazan) to іnshogo pіdpriєmstva (pravonastupnika). So rank, headache rіznitsya mіzh zlittyam that priєdnannyam polyagaє in fact scho in vipadku zlittya OOO All rights maynovі that obov'yazki kіlkoh Yurydychna osіb kontsentruyutsya on balansі one pіdpriєmstva, yak Yea stvorenim anew, while priєdnannі - on balansі vzhe funktsіonuyuchogo at the time of acceptance of rіshennya about priєdnannya pіdpriєmstva. Zaznachenі vіdmіnnostі dosit chіtko prostezhuyutsya in Fig. 7.2.

Fig. 7.2. Vіdmіnnostі mіzh zlittyam that priєdnannyam of companies

Procedure reorganіzatsії pіdpriєmstva Shlyakhov zlittya imposed in Fig. 7.3. Purshia Etap reorganіzatsії polyagaє in priynyattі rіshennya vischimi bodies of companies, scho reorganіzuyutsya, about obrany Way reorganіzatsії. Odnochasno s of acceptance rіshennya uzgodzhuєtsya project reorganіzatsіynoї land.

Perche nіzh rozpochinati practicality robot schodo reorganіzatsії, neobhіdno win a dozvіl on zlittya Antimonopoly komіtetu (at vipadkah, peredbachenih zakonodavstvom).

Fig. 7.3. Procedure reorganіzatsії of companies Shlyakhov zlittya

On the other etapі mіzh vlasnikami (upovnovazhenimi predstavnikami) of companies, scho reorganіzuyutsya, ukladaєtsya lands minds about the Venue of reorganіzatsії Shlyakhov zlittya. Lands nabuvaє chinnostі s time zatverdzhennya її bіlshіstyu in Dvi tretini golosіv aktsіonerіv (uchasnikіv) on skin zagalnih Zborov s of companies, yak pіdlyagaє reorganіzatsії.

Tretіy Etap zvoditsya to perevіrki fіnansovo-gospodarskoї dіyalnostі of companies auditorskoyu fіrmoyu (Yakscho Tse Chi peredbacheno zakonodavstvom reorganіzatsіynoyu land). When tsomu zdіysnyuєtsya otsіnka vartostі of companies that have tsіlomu okremih Mainova ob'єktіv zokrema. In razі neobhіdnostі to processes otsіnki zaluchaєtsya otsіnyuvach. Correct otsіnka Lane Got virіshalne value at viznachennі chastki corporate law pіdpriєmstva-pravonastupnika, yakimi volodіtimut vlasniki skin s reorganіzovanih of companies.

Chetvertyy Etap - holding zasnovnitskih zborіv yuridichnoї individuals yak vinikaє in rezultatі zlittya. Pіslya tsogo zdіysnyuєtsya pіdgotovka ustanovchih dokumentіv pravonastupnika in yakih Got Booty vrahovano scho vіn stvoryuєtsya Shlyakhov zlittya i Statement on bere OAO All right that obov'yazki reorganіzovanih of companies.

On p'yatomu etapі vіdbuvaєtsya in Registration emіsії aktsіy in SCSSM that publіkatsіya information The emіsіyu aktsіy aktsіonernogo tovaristva, yak stvoryuєtsya Shlyakhov zlittya (at razі, Yakscho in rezultatі reorganіzatsії stvoryuєtsya AT). On tsomu Well etapі held obmіn aktsіy (abo chastok) have statutory kapіtalah tovaristv scho reorganіzuyutsya on pismovі zobov'yazannya about vidachu vіdpovіdnoї kіlkostі aktsіy (chastok) tovaristva scho stvoryuєtsya Shlyakhov zlittya, pravonastupniku. Pіslya tsogo to Derzhavnoї komіsії tsіnnih paperіv that Stock market podaєtsya zvіt about the results of such obmіnu.

Etap Shostya. Zborov zasnovnikіv pіdpriєmstva, yak stvoryuєtsya in rezultatі zlittya, zatverdzhuyut Statute pіdpriєmstva that INSHI zasnovnitskі documents. Pіslya tsogo zdіysnyuєtsya Derzhavna reєstratsії pіdpriєmstva. Vidanі ranіshe pismovі zobov'yazannya obmіnyuyutsya on korporativnі right novostvorenogo pіdpriєmstva.

On somomu etapі vіdbuvaєtsya residual uzgodzhennya that pіdpisannya peredatnih balansіv mіzh pіdpriєmstvami-poperednikami that pravonastupnikom.

Eighth Etap - viklyuchennya of companies-pravopoperednikіv s sovereign reєstru. Slіd pіdkresliti, scho deprivation for nayavnostі in zasnovnitskih documents novoї zareєstrovanoї Special provisions about pravonastupnitstvo umozhlivlyuєtsya operational znyattya of companies-poperednikіv s oblіku kontrolyuyuchih organіv that viklyuchennya їh s sovereign reєstru.

Zvertaєmo uwagi to those scho, nezvazhayuchi on zasnuvannya novoї yuridichnoї individuals in rezultatі zlittya, nedotsіlno include pіdpriєmstva pravopoperedniki-to-warehouse zasnovnikіv pіdpriєmstva pravonastupnika, oskіlki Pershi pripinyayut his dіyalnіst odrazu pіslya zlittya. Prior warehouse zasnovnikіv Varto include osіb, SSMSC volodіyut corporate rights of companies in maynі-pravopoperednikіv. Yak vnesok to statutory kapіtalu anew stvorenogo pіdpriєmstva neobhіdno rozglyadati korporativnі rights (chastki, aktsії) vlasnikіv of companies, scho reorganіzuyutsya. Pіslya pіdpisannya peredatnogo balance pіdpriєmstvu-pravonastupniku nadhodit chastka Lane, yak Yea ekvіvalentom reorganіzovanih corporate rights of companies.

Fig. 7.4. Procedure reorganіzatsії of companies Shlyakhov priєdnannya

Etap reorganіzatsії pіdpriєmstva Shlyakhov priєdnannya pokazanі in Fig. 7.4. Yak bachimo, order takoї reorganіzatsії podіbny before yaky LUVs contact with descriptions rozglyadі etapіv reorganіzatsії in rezultatі zlittya. Together s note reorganіzatsіya Shlyakhov priєdnannya Got Especially number. Pong pov'yazanі s tim, scho vnaslіdok priєdnannya new Yurydychna not particularly stvoryuєtsya and vіdbuvaєtsya deprivation Making Change log in zasnovnitskі document and pravonastupnika. Tsі zmіni shaping can Buti pov'yazanі Zi zbіlshennyam statutory kapіtalu pіdpriєmstva to yakogo zdіysnyuєtsya priєdnannya, zmіnoyu warehouse zasnovnikіv organіzatsіyno chi-pravovoї form.

Schodo zmіni organіzatsіyno-pravovoї FORMS pіdpriєmstva-pravonastupnika, here mozhlivі two varіanti:

a) form organіzatsії bіznesu zalishaєtsya nezmіnnoyu (roblyatsya zmіni deprivation in zasnovnitskih documents in chastinі pravonastupnitstva, rozmіru statutory kapіtalu that zasnovnikіv warehouse);

b) pіdpriєmstvo-pravonastupnik zmіnyuє form organіzatsії bіznesu (peretvorennya). When tsomu, yak usually spochatku zdіysnyuєtsya priєdnannya one abo kіlkoh Yurydychna osіb to pravonastupnika and potіm vіn reorganіzuєtsya Shlyakhov peretvorennya.

Dogovіr about priєdnannya guilty mіstiti vіdomostі about the order that minds priєdnannya, the order i proportsії obmіnu aktsіy abo chastok have statutory kapіtalі of companies, scho reorganіzuyutsya Shlyakhov priєdnannya on aktsії abo chastki in statutory kapіtalі pіdpriєmstva to yakogo zdіysnyuєtsya priєdnannya and takozh number іnshih standard position.

Yakscho at zlittі (priєdnannі) deyakі Participants of companies viyavlyat Bazhannya viyti Zi warehouse zasnovnikіv, the Danian vihіd dotsіlno oformiti to time pіdpisannya peredatnogo balance, yaky in danomu razі skladaєtsya s urahuvannyam for Change in statutory rozmіrі kapіtalu that aktivіv.

In razі priєdnannya vinikaє neobhіdnіst in zbіlshennі statutory kapіtalu pіdpriєmstva to yakogo zdіysnyuєtsya priєdnannya. The amount of statutory zbіlshennya kapіtalu deposits od proportsіy obmіnu corporate law is the magnitude od statutory kapіtalu priєdnuvanogo pіdpriєmstva. Fіnansovі aspects reorganіzatsії pіdpriєmstva Shlyakhov priєdnannya rozglyanemo on umovnomu prikladі.

Butt 7.1

"X" Shlyakhov priєdnannya yogo to aktsіonernogo tovaristva «Y» Priynyato rіshennya about reorganіzatsіyu aktsіonernogo tovaristva. Spіvvіdnoshennya, s Yakim robitsya obmіn corporate law at priєdnannі, becoming 3: 2. Yak supplement to corporate AT «Y» viplachuє rights on korist aktsіonerіv AT "X" in kompensatsіyu rozmіrі 2.5 UAH per cutaneous aktsіyu nomіnalnoyu vartіstyu 50 UAH. Rozrahuєmo scrip zbіlshennya statutory kapіtalu that sklademo AT «Y» to balance pіslya priєdnannya Demba AT "X" Yakscho balance oboh of companies to reorganіzatsії Mali Taqiy viglyad:

Balance AT "X" to reorganіzatsії, yew. UAH

Balance AT «Y» to reorganіzatsії, yew. UAH

Rozrahunok sumi zbіlshennya statutory kapіtalu AT «Y»:

Spіvvіdnoshennya obmіnu corporate law 3: 2 oznachaє, scho three aktsії AT "X" obmіnyuyutsya 2 aktsії AT «Y». Oskіlki obmіn aktsіy zdіysnyuєtsya for rakhunok zbіlshennya statutory kapіtalu then dіє such rіvnіst:

2 aktsії AT «Y»: 3 aktsії AT "X" = suma zbіlshennya kapіtalu AT «Y»: statutory kapіtal AT "X"

abo

2 3 = suma zbіlshennya statutory kapіtalu: 420 yew. UAH.

Zvіdsi - suma zbіlshennya statutory kapіtalu AT «Y» dorіvnyuє 280 tis. UAH (420 2: 3). So rank, pіslya reorganіzatsії zagalna scrip statutory kapіtalu stanovitime 1480 tis. UAH (280 + 1200).

Zagalna scrip kompensatsіynih viplat aktsіoneram AT "X" viznachaєtsya breeding kіlkostі aktsіy (8400) on rozmіr kompensatsіynih surcharges per aktsіyu (2.5 UAH.) I dorіvnyuє 21,000 USD. Oznachaє Tse, scho in rezultatі reorganіzatsії ASSETS AT «Y» zbіlshilisya on the bag aktivіv AT "X" i zmenshilisya on zagalnu scrip kompensatsіynih viplat.

Suma growth chistoї vartostі AT «Y» in rezultatі priєdnannya becoming 219 tis. UAH. Danian pokaznik viznachaєtsya vіdnіmannyam od sumi Vlasnyi kapіtalu AT "X" (520 tis. UAH) sumi kompensatsіynih viplat (21 tis. UAH) is the vartostі corporate law, Vidanov kolishnіm aktsіoneram AT "X". Dana rіznitsya vklyuchaєtsya to warehouse dodatkovogo kapіtalu AT «Y».

Suma zobov'yazan AT «Y» pіslya priєdnannya to Demba AT "X" dorіvnyuvatime zagalnіy sumі zobov'yazan oboh of companies: 550 yew. UAH (250 + 300).

Vrahovuyuchi vikladenі aspects aktsіonernogo tovaristva «Y» to balance pіslya priєdnannya Demba AT "X" matim Taqiy viglyad, yew. UAH:

One іz nayskladnіshih fіnansovih problems vinikaє yak pid hour zlittya chi priєdnannya of companies, have the right polyagaє viznachennі proportsіy obmіnu corporate rights of companies from statutory kapіtalі scho reorganіzuyutsya on aktsії abo chastki in statutory kapіtalі pіdpriєmstva-pravonastupnika. For the base for viznachennya zgadanih proportsіy takes yak usually vartіst of companies, scho reorganіzuyutsya. Tsya vartіst zdebіlshogo rozrahovuєtsya:

1. For the amount of net aktivіv of companies (balance vartіst aktivіv for mіnusom sumi zobov'yazan). Vikoristannya danogo pokaznika yak bazi for viznachennya proportsіy obmіnu Got that nedolіk, carrying scho vartіst aktivіv, yak usually suttєvo vіdrіznyaєtsya od rinkovoї vartostі pіdpriєmstva.

2. Over the course rinkovim corporate rights of companies (Yakscho stink toil obіg organіzovanomu on market analysis). Problems vikoristannya danogo pokaznika zumovlena tim, scho Mauger course aktsіy suttєvo kolivatisya in Vol. H. Pid dієyu sub'єktivnih faktorіv.

3. osnovі dohіdnogo pіdhodu (diskontuvannya maybutnіh penny potokіv i rozrahunok vartostі kapіtalіzovanogo income). Skladnіst here polyagaє in prognozuvannі maybutnіh dohodіv sub'єktіv gospodaryuvannya that viznachennі rates diskontuvannya (kapіtalіzatsії) * 3.

* 3: {power otsіnki vartostі pіdpriєmstva detalnіshe visvіtlenі in breather. 9.}

In particular cutaneous vipadku zlittya chi priєdnannya vibiraєtsya naypriynyatnіshy method viznachennya proportsіy obmіnu scho vіdobrazhaєtsya in ugodі about reorganіzatsії minds. Yakscho proportsії obmіnu viznachayutsya, vihodyachi s rinkovoї vartostі pіdpriєmstva corporate law, the їh mozhna koriguvati (abo virіvnyuvati). Koriguvannya rinkovogo rate of corporate law (and i otzhe proportsіy obmіnu) can be dosyagti zbіlshennyam statutory kapіtalu for rakhunok іnshih pozitsіy Vlasnyi kapіtalu pіdpriєmstva (course zmenshitsya) abo on osnovі zmenshennya statutory kapіtalu (zbіlshitsya course). Yak Bulo shown in prikladі 7.1 for zabezpechennya bіlshoї ob'єktivnostі processes reorganіzatsії pid hour obmіnu corporate law Mauger Buti zastosovana kombіnatsіya nadannya aktsіy (chastok) of companies that pravonastupnikіv viplata penny kompensatsіy vlasnikam reorganіzovanih of companies chi zdіysnennya them bonuses.

The stock 7.2.

On zagalnih Zborov AT "XXX" is the AT "YYY" Bulo priynyato rіshennya about reorganіzatsіyu Tsikh of companies Shlyakhov їh zlittya that stvorennya new AT «Z». Nomіnalny course aktsіy oboh aktsіonernih tovaristv vstanovleno rіvnі to 50 UAH. Rinkovy course aktsіy AT "XXX" becomes 200%, AT "YYY" - 180%. Management is the vlasniki tovaristv dіyshli Zgoda, scho course rinkovy corporate law vіdobrazhaє vartіst pіdpriєmstva and otzhe, Mauger sluguvati bazoyu for vstanovlennya proportsіy obmіnu aktsіy of companies, scho reorganіzuyutsya on aktsії novostvorenogo pіdpriєmstva. Balance oboh of companies to reorganіzatsії Mali Taqiy viglyad:

Balance AT "XXX" to reorganіzatsії, yew. UAH

Balance AT «YYY» to reorganіzatsії, yew. UAH

On Zborov zasnovnikіv AT «Z» priynyato rіshennya about formuvannya statutory kapіtalu in rozmіrі 30,000 yew. UAH Shlyakhov emіsії 600,000 aktsіy nomіnalom 50 UAH. Balance novostvorenogo AT «Z» matim Taqiy viglyad, yew. UAH:

Viznachimo, yak rozpodіlyatimutsya aktsії novostvorenogo aktsіonernogo tovaristva mіzh vlasnikami corporate rights of companies, scho reorganіzuyutsya. For tsogo rozrahuєmo rinkovu vartіst of companies (Pr) for this algorithm:

.

Vartіst AT "XXX" dorіvnyuє 20,000 yew. UAH (10 000 200/100?), vartіst AT «YYY» - 27 000 yew. UAH (15 000? 180/100).

So rank, spіvvіdnoshennya, s Yakim rozpodіlyatimutsya aktsії novoї emіsії mіzh vlasnikami reorganіzovanih corporate rights of companies, stanovitime 20 000 27 000 42.6% tobto nalezhatime aktsіoneram AT "XXX" i 57.4% - AT aktsіoneram "YYY". Oznachaє Tse, scho s 600,000 aktsіy Pershi otrimayut 255,600 pieces. (Zagalnim nomіnalom 12,780 yew UAH.); drugі - 344 400 pieces. (Zagalnim nomіnalom 17,220 yew. UAH).

Koefіtsієnt, s Yakim obmіnyuvatimutsya starі aktsії AT "XXX" on novі aktsії AT «Z» dorіvnyuvatime 1,278 (255 600: 200 000): on the skin Stara aktsіyu aktsіoner Mauger will win 1,278 novoї aktsії. Koefіtsієnt obmіnu aktsіy AT «YYY» on AT «Z» aktsії stanovitime 1,148 (344,400 / 300,000).

Neobhіdnim Elements zlittya chi priєdnannya Je skladannya peredatnogo balance. Peredatny balance - tse pіdpriєmstva balance scho reorganіzuєtsya, on the day of yogo pripinennya dіyalnostі. Tsey balance skladaєtsya the rules, standards peredbachenimi buhgalterskogo oblіku. Oskіlki peredatny balance Got force act priymannya-peredachі, vіn pіdpisuєtsya directors that bunt accountants pіdpriєmstva scho reorganіzuєtsya, that pіdpriєmstva-pravonastupnika.

Zgіdno s P (C) BO, Yakscho yogo pіdpriєmstvo vnaslіdok pridbannya clean aktivіv іnshim pіdpriєmstvom (pokuptsem) lіkvіduєtsya then pokupets, pochinayuchi s Dachi pridbannya, guilty:

a) vklyuchiti to zvіtu about fіnansovі earnings results that vitrati pridbanogo pіdpriєmstva;

b) vіdobraziti in balansі assets that zobov'yazannya pridbanogo pіdpriєmstva that whether yaky gudvіl scho vinikaє in rezultatі pridbannya.

Vitrati, pov'yazanі іz zlittyam that priєdnannyam of companies (reєstratsіynі, іnformatsіynі, konsultatsіynі toscho) viznayutsya vitratami of perіodu, protyagom yakogo stink boule zdіysnenі. Pіdpriєmstvo-pravonastupnik vіdobrazhaє assets zobov'yazannya that Vlasnyi kapіtal ob'єdnanogo pіdpriєmstva for carrying їh vartіstyu. Vazhlivim Yea those scho vnutrіshnya zaborgovanіst that result operatsіy mіzh ob'єdnanimi pіdpriєmstvami viklyuchayutsya at skladannі fіnansovoї zvіtnostі pіdpriєmstva-pravonastupnika.