Actual costs include amounts paid to the seller under the contract, amounts paid for information and consulting services, payment for intermediary services, and other costs directly related to the acquisition of assets as financial investments.

If the amount of costs for information and consulting services is insignificant relative to the amount paid to the seller of securities, such costs are recognized as other operating expenses of the organization, including reporting period, in which the purchased securities were accepted for accounting.

General business and other similar expenses are not included in the cost of acquiring financial investments if they are not directly related to their acquisition.

When purchasing financial investments, actual costs are formed taking into account the amount differences that arise in cases where payment is made in rubles in an amount equivalent to the amount in foreign currency (conventional monetary units) before the assets are accepted as financial investments for accounting.

The initial cost of financial investments, the cost of which upon acquisition is established in foreign currency, is determined in rubles by converting foreign currency at the Bank of Russia exchange rate in effect on the date of acceptance of these assets for accounting. The initial cost of financial investments at which they are accepted for accounting may change in cases established by regulations. For the purposes of subsequent assessment, financial investments are divided into two groups: financial investments for which the current market value can be determined, and financial investments for which the market value cannot be determined.

When disposing of assets accepted for accounting as financial investments for which the current market value can be determined in the prescribed manner, they are reflected in financial statements at the end of the reporting year at the current market value by adjusting the valuation as of the previous reporting date. Adjustments can be made monthly or quarterly. The difference between the valuation of financial investments at the current market value as of the reporting date and the previous valuation is included in other income or expenses in correspondence with the financial investment account. These assets include the most liquid financial investments.

When disposing of an asset accepted for accounting as a financial investment, for which the current market value is not determined, it is reflected in accounting and financial statements at its original cost. If the current value of a financial investment object previously valued at the current market value is not determined at the reporting date, such an object is reflected in the financial statements at the value of its last valuation.

An organization may calculate the valuation of debt securities and granted loans at present value and provide evidence of the validity of such calculation. Disposal of financial investments from accounting organization is recognized on the date of a one-time termination of the conditions for accepting these investments for accounting and occurs in cases of redemption, sale, gratuitous transfer, transfers in the form of a contribution to the authorized capital of other organizations, transfers on account of a contribution under a simple partnership agreement, etc.

Contributions to the authorized capital of other organizations (except for shares of joint stock companies), loans provided to other organizations, deposits in credit organizations, receivables acquired on the basis of an assignment of the right of claim are valued upon disposal at the historical cost of each of the accounting units shown. Upon disposal, securities may be valued at the average initial cost, determined for each type of securities as the quotient of dividing the initial cost of this type of securities by their quantity, consisting respectively of the initial cost and quantity (remaining) at the beginning of the month and received within of a given month of securities. When disposing of financial investments valued at current market value, their value is determined based on the latest valuation. For each type of financial investment, only one valuation method can be used during the reporting year. This method of assessment should be enshrined in accounting policy organizations.

Financial investments on balance sheet

An additional breakdown of data on financial investments by their types and groups is provided in Section 2 of the Explanations to the Balance Sheet and Statement of Financial Results. Table 3.1 of this section is intended for this purpose.

Accounting for such property is regulated by the Accounting Regulations “Accounting for Financial Investments” (PBU 19/02) (approved by order of the Ministry of Finance of Russia No. 126n).

According to this document, financial investments include, in particular:

Securities (state, municipal, other companies) and debt securities (bonds, bills);
an exception is provided for own valuable and debt shares purchased from shareholders, commercial bills issued to ensure payment to suppliers, issued bonds;
contributions to the authorized capital of other companies;
the amount of loans provided to other companies at interest;
deposits in banks on which income is accrued;
receivables acquired under an agreement for the assignment of claims (assignment);
contributions of a partner organization under a simple partnership agreement (joint activity).

PBU 19/02 provides that assets that have a tangible form are not reflected as financial investments. For example, fixed assets and inventories (materials, goods).

Financial investments must meet all the requirements listed in paragraph 2 of PBU 19/02. There are three of them. First. The company must have documents that confirm its right to make a financial investment. For example, for loans provided - an agreement; for bills issued by third-party organizations - a bill of exchange, for shares or bonds - the shares themselves, bonds or a certificate for them (if they are received in documentary form), an extract from the register or securities account (if they are received in non-documentary form); for deposits in banks - agreement; for contributions to authorized capital - the charter of the company that received this contribution, etc.

Second. Transfer to the company of all financial risks associated with these investments (risk of price changes, debtor insolvency, liquidity, etc.). And third. Ability to generate income in the future. For example, in the form of interest, dividends, the difference between purchase and sale prices. If certain assets are not capable of generating income (for example, interest-free loans), they are not reflected as part of financial investments.

This amount is not indicated in line 1170 of the balance sheet. The amount of the loan not repaid is reflected either as part of other non-current assets on line 1190 (if the loan is long-term), or as part of accounts receivable on line 1230 of the balance sheet (if the loan is short-term). As we said above, line 1170 of the balance sheet is intended specifically for long-term financial investments. Short-term accounts are taken into account on line 1240 of the form. According to paragraph 19 of the Accounting Regulations “Accounting Reports of an Organization” (PBU 4/99) (approved by Order of the Ministry of Finance of Russia No. 43n), those assets and liabilities are considered short-term if their circulation or repayment period does not exceed 12 months. Otherwise, they are considered long-term (letters from the Ministry of Finance of Russia No. 07-02-18/01, No. 07-02-18/01).

At the same time, the company has the right to transfer certain financial investments from long-term assets to short-term ones (for example, if at the time of formation of the balance sheet the remaining period of their circulation (repayment) is less than 12 months) and vice versa. The right to make such a transfer must be established as part of the firm's accounting policies.

Financial investment account

Sub-accounts can be opened for account 58 “Financial investments”:

58-1 "Units and shares",
58-2 "Debt securities",
58-3 "Loans provided",
58-4 “Deposits under a simple partnership agreement”, etc.

Subaccount 58-1 “Shares and shares” takes into account the presence and movement of investments in shares of joint-stock companies, authorized (share) capitals of other organizations, etc.

Subaccount 58-2 “Debt securities” takes into account the presence and movement of investments in government and private debt securities (bonds, etc.).

Financial investments made by the organization are reflected in the debit of account 58 “Financial investments” and the credit of accounts that record the values ​​​​to be transferred on account of these investments. For example, an organization’s acquisition of securities of other organizations for a fee is carried out in the debit of account 58 “Financial investments” and the credit of account 51 “Currency accounts” or 52 “Currency accounts”.

For debt securities for which the current market value is not determined, the organization is allowed to attribute the difference between the initial value and the nominal value during the period of their circulation evenly, as income is due on them in accordance with the terms of issue, to the financial results of the commercial organization or a decrease or increase in expenses of a non-profit organization.

When writing off the amount in excess of the purchase price of bonds and other debt securities purchased by the organization over their nominal value, entries are made in the debit of account 76 “Settlements with various debtors and creditors” (for the amount of income due on securities) and in the credit of account 58 “Financial investments " (for part of the difference between the purchase and nominal value) and 91 "Other income and expenses" (for the difference between the amounts allocated to accounts 76 "Settlements with various debtors and creditors" and 58 "Financial investments").

When additionally accruing the amount of excess of the nominal value of bonds and other debt securities acquired by the organization over their purchase price, entries are made in the debit of accounts 76 “Settlements with various debtors and creditors” (for the amount of income due on securities) and 58 “Financial investments” ( for part of the difference between the purchase and nominal value) and to the credit of account 91 “Other income and expenses” (for the total amount allocated to accounts 76 “Settlements with various debtors and creditors” and 58 “Financial investments”).

Redemption (redemption) and sale of securities accounted for on account 58 "Financial investments" are reflected in the debit of account 91 "Other income and expenses" and the credit of account 58 "Financial investments" (except for organizations that reflect these transactions on account 90 "Sales ").

Subaccount 58-3 “Loans provided” takes into account the movement of monetary and other loans provided by the organization to legal entities and individuals (except for employees of the organization). Provided by the organization to legal and individuals(except for employees of the organization) loans secured by bills of exchange are accounted for separately in this subaccount.

Loans provided are reflected in the debit of account 58 “Financial investments” in correspondence with account 51 “Current accounts” or other relevant accounts. The loan repayment is reflected in the debit of account 51 “Current accounts” or other relevant accounts and the credit of account 58 “Financial investments”.

In subaccount 58-4 “Deposits under a simple partnership agreement,” the partner organization takes into account the presence and movement of contributions to the common property under a simple partnership agreement.

The provision of a deposit is reflected in the debit of account 58 “Financial investments” in correspondence with account 51 “Current accounts” and other relevant accounts for accounting for allocated property.

Upon termination of a simple partnership agreement, the return of property is reflected in the credit of account 58 “Financial investments” in correspondence with the property accounts.

Analytical accounting for account 58 “Financial investments” is carried out by types of financial investments and objects in which these investments are made (organizations that sell securities; other organizations in which the organization is a participant; borrowing organizations, etc.). The construction of analytical accounting should provide the ability to obtain data on short-term and long-term assets. At the same time, accounting for financial investments within a group of interrelated organizations, about the activities of which consolidated financial statements are prepared, is kept separately in account 58 “Financial investments”.

Cost of financial investments

For this purpose, clause 19 of PBU 19/02 provides for the division of financial investments into two groups:

O investments by which their current market value can be determined;
- o investments for which the current market value is not determined.

For the first group, financial investments (shares, bonds) listed on the stock exchange are reflected by the organization at the end of the year at the current market value by adjusting their valuation to the previous date. The organization can make this adjustment monthly or quarterly (the organization sets the timing of the adjustment independently in its accounting policies).

The difference between the assessment of financial investments at the current market value as of the reporting date and their previous assessment is attributed to the financial results of a commercial organization as part of other income (expenses) or an increase in income (expenses) of a non-profit organization in correspondence with the financial investment account.

In the second group, financial investments for which the current market value is not determined are reflected in accounting at their original cost (clause 21 of PBU 19/02).

The second group includes all other financial investments: shares in authorized (share) capital, loans issued, deposits in banks, receivables acquired under an assignment agreement, deposits under a simple partnership agreement, etc.

However, there are some features to consider here. For example, for debt securities (bills, bonds) that are not quoted on the stock exchange, the difference between the original and nominal value can be written off as other expenses (income) evenly over the period of their circulation.

For securities belonging to the first group, the method for determining the current market value is given in PBU 19/02, which states that this value for accounting purposes is understood as their market price calculated by the organizer of trading on the securities market (clause 13 of PBU 19 /02).

Currently, the procedure for determining the market price of securities and the maximum limit for fluctuations in their market price is established by the Federal Financial Markets Service of Russia only for securities traded on an organized market. This category includes shares of joint stock companies, government and corporate bonds, shares (mutual funds), American depositary funds (ADR).

Based on clause 20 of PBU 19/02, the organization is obliged to make adjustments to the current market value of securities at the end of the reporting year. In conditions of falling stock prices, information about the value of a company's assets is the most important criterion for assessing the viability of a business. In addition, in order to prepare financial statements that reflect the true value of assets, revaluation should now be carried out monthly.

Revaluation of securities is carried out as follows. First of all, the difference between the value of the security at the current moment and at the last reporting date is determined. The result obtained (income in the form of a positive difference or expense in the form of a negative difference) is taken into account in accounting in account 91 “Other income and expenses” as part of other income or expenses, respectively.

The initial cost of a financial investment. If an organization received securities free of charge, then their initial value is recognized as follows:

If securities are traded on the stock market, then their current market value at the time of acceptance for accounting is recorded;
- If securities are not traded on the stock market, then the amount is fixed Money, which can be obtained as a result of the sale of received securities at the time of their acceptance for accounting.

If an asset is accepted for accounting as a financial investment, but the current market value is not determined for it, then upon disposal of this asset its value is determined:

At the initial cost of each unit of financial investment;
- at the average initial cost;
- FIFO method - at the original cost of the first financial investments acquired.

The following information is subject to disclosure in the financial statements:

Methods for assessing financial investments upon disposal in accordance with generalization by groups and the consequences of changes in the methods of this assessment;
- the cost of financial investments for which the current market value is determined and not determined;
- difference between market value as of the reporting date and the previous assessment of financial investments;
- if there are debt securities for which the current market value has not been determined, then the difference between their original and nominal value during their circulation period is subject to disclosure;
- the cost of securities and other financial investments encumbered with collateral;
- the cost of securities and other financial investments transferred without sale to other organizations;
- the amount of the reserve for depreciation of financial investments, indicating their type of reserve. At the same time, the amount of the reserve created in the reporting year, the amount of the reserve recognized as other income of the reporting period and the amount of the reserve used in the reporting year are disclosed;
- if there are debt securities or loans provided, then data on their valuation at discounted value, the amount of their discounted value and discounting methods are disclosed. These data are disclosed in the notes to the balance sheet and income statement.

Types of financial investments

Investments of funds in financial assets for the purpose of generating income are considered in accounting as financial investments.

Depending on the period for which financial investments were made, they are divided into:

Long-term, when the established maturity period exceeds one year, or investments made with the intention of receiving income from them for more than one year;
- short-term, when the established repayment period does not exceed one year or investments were made without the intention of receiving income from them for more than one year.

The procedure for maintaining accounting records of financial investments is regulated by the Accounting Regulations “Accounting for Financial Investments” (PBU 19/02), approved by Order of the Ministry of Finance of Russia No. 126n.

To accept financial investments for accounting, the following conditions must be simultaneously met:

1. Availability of documents confirming the organization’s right to financial investments and the right to receive funds and other assets arising from this right.
2. Transfer of financial risks associated with this investment (risk of price changes, insolvency of the debtor, liquidity, etc.).
3. Economic benefits, that is, the ability to generate income in the future in the form of interest, dividends or in the form of appreciation (differences in sales prices and book value).

The organization’s financial investments in accordance with clause 3 of PBU 19/02 include:

State and municipal securities.
Securities of other organizations.
Contributions to the authorized (share) capital of other organizations.
Providing loans to other organizations.
Deposits in credit institutions.
Accounts receivable acquired on the basis of assignment of the right of claim.

Financial investments include securities that an organization owns in order to increase its own capital by generating income through the distribution of profits (in the form of interest, dividends) or for the investing organization to receive profit from the sale or other disposal of these assets.

Evaluation of financial investments

The nominal value of a financial investment is the value specified in the financial instrument itself, accepted in the contract, recorded in the register or printed on the security. The nominal value of equity instruments shows the amount of the share capital that they represent, and the nominal value of debt instruments shows the amount of the borrower's obligations that he undertakes to repay. The purchase and sale of financial investments do not change the nominal value; it remains constant throughout the entire period for which the investment is registered.

The price announced by the issuer (organization) at which securities are offered during the initial placement on the market is the placement cost, or the cost that may be higher or lower than the nominal value of financial investments. If the issue price exceeds the nominal price, this means that the security is placed at a premium, resulting in the generation of issue income; otherwise, if the par value exceeds the placement cost, the issuer incurs a loss.

The value at which a financial instrument subsequently circulates on the market (sold and bought) is the market, or current, value of financial investments, which is determined at a particular moment by the nominal value, liquidity of investments and the amount of income generated.

When determining the market value, it is necessary to be guided by the resolution of the Federal Commission for the Securities Market No. 03–52/ps “On approval of the Procedure for calculating the market price of issue-grade securities and investment shares of mutual funds investment funds, admitted to circulation through trade organizers, and establishing a maximum limit for market price fluctuations.”

Financial investments are accepted for accounting at their original cost. The initial cost of financial investments acquired for a fee is the amount of actual acquisition costs, excluding VAT and other refundable taxes. The initial cost includes the purchase price (issue or market) and direct costs of acquiring financial investments (financial broker's remuneration, interest on borrowed funds used to purchase investments, other direct acquisition costs).

The actual expenses that form the initial cost of financial investments are recognized as:

Investments for contributions to the authorized capital of an organization - a monetary valuation of investments agreed upon by the founders (participants) of the organization;
investments made on account of the contribution of the organization - a partner under a simple partnership agreement - at the cost of their reflection in the balance sheet on the date the partnership agreement entered into force;
investments received free of charge - their market value as of the date the investments were accepted for accounting;
investments acquired under agreements providing for non-monetary funds - at the cost of assets transferred or to be transferred by the organization to fulfill the terms of the agreement.

Actual expenses for the acquisition of financial investments are determined taking into account exchange rate differences that arise when paying in rubles in an amount equivalent to the amount in foreign currency (conventional monetary units).

If for acquired financial investments the main part of the expenses consists of expenses paid under the agreement to the seller, then the remaining expenses for the acquisition of these investments can be recognized by the organization as other expenses, i.e. can be accounted for on account 91 “Other income and expenses”, and not on account 58 “Financial investments”.

After financial investments are accepted for accounting, their value is subject to periodic adjustment, which is carried out directly for investments that have a market value, and indirectly for investments for which the market value is not determined. In the first case, the organization is obliged to reflect financial investments in the balance sheet at market prices. To do this, they are revalued and the difference between the market value and the previous balance sheet valuation (market or initial, when acquiring objects in the reporting period) is charged to the accounts of other income and expenses. In the second case, instead of revaluation, a reserve is accrued for the depreciation of financial investments if the value or profitability of these investments falls. If the value or profitability increases, the previously accrued reserve is reduced until the original value is completely restored.

According to paragraph 38 of PBU 19/02 in the financial statements, the value of financial investments for which an impairment reserve has been formed is shown at their book value minus the amount of the reserve.

The assessment of financial investments upon their disposal (redemption, sale, gratuitous transfer, transfer as a contribution to the authorized capital of another organization, etc.) is carried out immediately at the time of disposal. Financial investments for which the current market price is determined are valued based on their latest valuation.

Financial investments for which the current market price is not determined are valued at the time of disposal in one of the following ways:

1) at the initial cost of each financial investment;
2) at the average initial cost;
3) at the original cost of the first financial investments acquired (FIFO).

Financial investment reserve

Let me remind you that, according to PBU 19/02, financial investments mean investments in the authorized capital of other organizations, loans issued, deposits in banks, debt securities.

It is debatable what the nature of interest-free loans is: whether they are financial investments or simply receivables. But I believe that account 58 “Financial Investments” can still be used.

The ability to generate income is a concept that many people do not understand as widely as it should. What it means to generate income in the form of interest on a loan issued is clear to everyone. But many people consider interest-free loans as receivables. If you give a loan without interest to a subsidiary that the company created to transfer part of its functions, then financial support at the formation stage is also a benefit. Not income in the full sense of the word, but still an economic benefit.

Account 58 also takes into account acquired rights of claim. The company has sold its products, is waiting for money, but the buyer does not pay. The seller decides to assign the debt to another company. For someone who has acquired debt, this will be a financial investment. Acquired debt is reflected at actual costs.

Traditionally, account 55 accounts for another type of financial investment - deposits placed by the company in the bank.

All types of financial investments that I have listed may lose value. Section VI of PBU 19/02 provides information from which you can understand for which financial investments reserves are not created. Thus, there is no need to create a reserve for financial investments that circulate on the organized market. Most often these are securities traded on the market. They are revalued. At least as of December 31st. Even earlier is not forbidden. The best option is at the end of each quarter.

What is a sustainable decrease in the value of financial investments is explained in paragraph 37 of PBU 19/02. Such a reduction is expected, for example, if at the current and previous reporting dates the accounting value is significantly higher than the estimated value.

Let's return to the signs of a significant decline in the value of financial investments. It is present if the estimated value has decreased significantly during the year. It fell all the time, never increasing. Or if at the reporting date there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future.

These are such vague formulations that examples of situations of the materiality of the reduction were added to PBU 19/02. They can be found in paragraph 37. For example, this is the absence or significant decrease in income from financial investments in the form of interest or dividends with a high probability of a further decrease in these income in the future. Let's say there are no dividends for a year or two and there are serious reasons to doubt whether there will be a profit as such.

Analysis of financial investments

In f. N 1 "Balance Sheet" long-term accounts receivable are reflected in section II "Current assets". High specific gravity intangible assets as part of non-current assets and the high share of their growth in the change in the total value of non-current assets for the reporting period indicate the innovative nature of the enterprise's strategy. High rates of long-term financial investments reflect the financial and investment development strategy.

A more detailed analysis of intangible assets, fixed assets and financial investments is carried out on the basis of the relevant sections of f. N 5 "Appendix to the Balance Sheet".

The value of the transferred assets is established based on the price at which the organization receiving financial investments as payment, in comparable circumstances, usually determines the value of similar assets (clause 14 of PBU 19/02). If it is impossible to determine the value of the transferred assets, the value of the financial investments received by the organization is established based on the price at which similar ones could be acquired in comparable circumstances.

PBU 19/02 also affected such an important verification procedure as the correctness of the assessment during the period of ownership and disposal of financial investments. During the inspection of objects for which the current market value can be determined, it is necessary to establish whether they were periodically revalued at the current market value. According to clause 20 of PBU 19/02, an organization can make such a revaluation monthly or quarterly, and the difference between the assessment of such financial investments as of the reporting date and the previous assessment is attributed to financial results as part of operating income (expenses).

An inventory of financial investments should be preceded by an inventory of cash and settlements.

1. The inventory (working) commission receives inventory lists (hereinafter referred to as the inventory), two copies for each type of financial investment:

For inventory of securities - form INV-16;
- for other financial investments - the recommended form RINV-1.

2. The composition of financial investments is checked.

Financial investments include:

State and municipal securities;
- securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills);
- loans provided to other organizations;
- deposits in credit institutions;

3. The legality of classifying assets as financial investments is checked.

To accept assets for accounting as financial investments, the following conditions must be simultaneously met:

Availability of properly executed documents confirming the existence of the organization’s right to financial investments and to receive funds or other assets arising from this right;
- the ability to bring economic benefits (income) to the organization in the future in the form of interest, dividends or an increase in their value (the difference between the sale (redemption) price of a financial investment and its purchase value, as a result of its exchange, use in repaying the organization’s obligations, an increase in the current market value and so on.).

4. Each type of inventoryable financial investment is sequentially analyzed and the amount listed in the corresponding accounting account is determined. In most cases, organizations purchase securities of other organizations for an indefinite period.

When purchasing securities, the following purposes are pursued:

Receiving profit from investments made;
- establishing control over the organization whose securities were acquired, etc.

When purchasing securities of other organizations, the stability of buyers, the sales market, the scope of activity, and the duration of operation are taken into account. Organizations make financial investments in other organizations through the purchase of shares or bonds. These investments can be short term or long term.

Financial investments in securities are accepted for accounting in the amount of actual costs for the investor.

The actual costs of purchasing securities may be the following amounts:

Paid in accordance with the contract to the seller;
- paid to specialized organizations and other persons for information and consulting services related to the acquisition of securities;
- remunerations paid to intermediary organizations with the participation of which securities were purchased;
- expenses for paying interest on borrowed funds used to purchase securities before they are accepted for accounting;
- other expenses directly related to the acquisition of securities.

At the end of each reporting period, both the cost and market value of the securities must also be determined.

The yield of securities is also compared with a guaranteed income, which is taken as the Bank of Russia rate or interest on government bonds or treasury bills.

Assessment and forecasting of the economic efficiency of acquired or acquired securities can be made using both absolute and relative indicators, that is, by determining the current market price (at which acquisition is possible) and intrinsic value (based on the subjective assessment of each investor) or by calculating regarding profitability. In this case, the difference between price and value of a financial asset is that price is an objective measure, while intrinsic value is an estimate (the result of the investor's own approach). The calculation of current intrinsic value can be made by dividing the expected cash flow for a certain period by the expected or required rate of return on the financial instrument, taking into account the number of periods of earnings.

If the amount of investment costs, that is, the market value of the security, is higher than the current value of the security, it is profitable for the holder of this security to sell it, but in this case there is no benefit for the investor to purchase it due to the fact that he will receive a profit less than expected.

Based on the above, the current value of a security depends on:

Expected cash receipts;
- the duration of the projected period of income generation;
- required rate of return.

Long-term financial investments

Classification of long-term financial investments by investment object

An investment object is something in which an investor invests money. The investor (person) himself is considered to be the subject of the investment. Let's consider the classification of long-term financial investments or investments according to the object of capital investment.

Securities of various types - this type of capital investment is usually called portfolio investment. In the case we are considering, securities (stocks or bonds) are purchased for a period of more than one year. Typically, when investing long-term in securities, the investor does not pursue the goal of making money on speculation.

Based on the purpose of investing in a portfolio of securities, this type of long-term capital investment is usually divided into two groups:

Investing capital in the Central Bank (here - securities) for the purpose of partial redemption of a joint-stock company - this gives the investor the right to take part in the management of the joint-stock company.
- Investing capital in the Central Bank for the purpose of preserving funds is quite rare, since securities are a highly liquid asset, but investors still use it, buying shares of stable joint stock companies, the impact of market fluctuations on which is minimal.

Based on the type of securities, they are also divided into state securities (issued, as a rule, by the Central Bank of the Russian Federation) and private ones, which are issued by private joint-stock companies.

Debt securities are usually promissory notes. A bill allows you to receive capital transferred to the holder of the bill for a specified period; usually large sums in bills are taken for at least a year so that the debtor has time to collect the necessary funds or bring his enterprise to a decent economic level.

Contributions to the authorized capital of other organizations allow the investor to receive part of the profits of these organizations after their development. This is also a long-term investment of capital, because only a very small group of enterprises can fully recoup the costs of their creation in less than one year.

Loans provided to other people or organizations are almost the same as providing a person with a bill of exchange, but in this option the bill is not written, the debt obligation is formed by a simple agreement or.

Deposits in businesses that issue loans - you give money that will be issued to other people as a loan. For this you will receive part of the percentage of the payment. Typically, such investments are made for several years.

Contributions to partnerships. A partnership is a special organizational and legal form that allows, by summing up the funds contributed by the co-founders, to obtain sufficient capital to start the operation of the enterprise.

Profits are distributed according to the amount of capital contributed by each individual participant. A partnership also gives the right to jointly manage the business. Even if the created partnership pays back all expenses in one year, then profits, in any case, will have to wait more than one year, that’s for sure.

Similar investments. It is possible to describe some other objects for long-term investment of capital, which we did not indicate in this classification, but we have listed and described the main objects.

Let's now learn to distinguish objects that will not be long-term financial investments, but which some investors mistake for them:

Securities that were purchased for resale are mere financial speculation and not long-term financial investments. We have already touched on this point in the previous paragraphs.
- a bill of exchange that was issued not as a document certifying the receipt of funds, but in exchange for some material values, which have already been acquired by man. In other words, the bill here is simply a means of payment, and not a debt obligation between the parties.
- investments in real estate, for the purpose of its temporary use to obtain material benefit. Payments in this case are made by rent. This type of investment cannot be called long-term.
- the acquisition of expensive things not for the purpose of obtaining material gain, but for the purpose of preserving capital or satisfying aesthetic needs. For example, if you purchased an expensive painting because you appreciate and admire art, in this case your investment will not be called a long-term investment.

Accounting statements of long-term financial investments

Even if investments are made from an individual and not a legal organization, you should still have an understanding of the forms of legal reporting on long-term financial investments. Let's indicate what information needs to be included in reports when making the investments described.

Evaluation of financial investments. On what basis did you evaluate the property when making an investment or purchase, and why did you pay a different price for it? If the object of your investment is real estate (but it may not always be - see the previous classification), you need to indicate the data of the expert who assessed it; if you are buying shares - the value of the share at the moment.

How might a change in current estimates affect an investment? These two points must be discussed with a financial specialist, because there is practically no point in understanding all the details on your own. Imagine a situation where there is a sharp fluctuation in the market. How will this affect the value of the assets you acquired, how much money can you lose, how can you insure yourself against this? To avoid unnecessary questions, all these points must be written down in the reports.

The difference between the market price of the asset at the time the report was created and the value indicated during the appraisal work. Naturally, in most cases, this difference will occur for long-term investments, because the market does not stand still, in addition, there is a certain percentage of inflation every year, which will also increase or decrease the value of the asset you purchased. If you purchased a share for which the current market value cannot be determined, the difference between the original cost of the security and its par value is indicated. All data must also be included in the financial statements.

If, when purchasing assets for a long-term financial investment, you took out a loan or money as collateral, the cost, size of the loan, and interest on it must be included in the report in mandatory, since they will in any case cause additional costs for the company in the future.

If you have established a joint stock company, you must indicate the value and volume of securities that were taken out of the joint stock company. Disposal may be due to various reasons: transfer to third party shareholders or something else.

You must have capital reserves to cover inflationary costs. The money you put into the business will depreciate in value depending on the current rate of inflation and the industry of your business. In order to have enough money for the normal functioning of a business, reserves are needed. The amount of capital in these reserves must be recorded.

If there are bills or bonds, an estimate of their discount value and a description of discounting methods.

These are basic materials about long-term financial investments, their classification, as well as the necessary accounting reports. If you do not understand them yourself, seek the services of an accountant who will help you deal with difficulties. Long-term financial investments must be carefully planned, taking into account all possible risks and possible profits. This work cannot be done without various financial professionals, so it is worth spending the money on decent financial advice.

Audit of financial investments

In accordance with the Accounting Regulations “Accounting for Financial Investments” PBU 19/02, an organization’s financial investments include:

State and municipal securities, securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills);
- contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies);
- loans provided to other organizations, deposits in credit institutions;
- accounts receivable acquired on the basis of assignment of the right of claim, etc.

Information base used by the auditor when checking financial investments includes:

Documents regulating accounting and taxation of financial investments;
financial statements;
order on the accounting policy of the organization;
registers of synthetic and analytical accounting of financial investments;
primary documents for reflecting financial investments.

By order on the accounting policy of the organization, the auditor can familiarize himself with the following information:

The procedure for recognizing income from participation in the authorized capitals of other organizations as income from ordinary activities or operating income;
working chart of accounts used to reflect financial investments;
forms of primary documents developed and approved by the organization to account for financial investments.

Audit of acceptance of financial investments for accounting

Operations (transactions) on financial investments are carried out on the basis of: a constituent agreement (for investments in the authorized capitals of other organizations), a securities purchase and sale agreement, a loan agreement, a deposit agreement, a securities pledge agreement, a simple partnership agreement (an agreement on joint activities), etc. The auditor must check whether these agreements comply with the requirements of other regulatory legal acts governing transactions with securities.

The initial task of the auditor is to verify the correct classification of the acquisition of an asset as a financial investment.

To accept assets for accounting as financial investments in accordance with PBU 19/02, the following conditions must be simultaneously met:

Availability of properly executed documents confirming the existence of the organization’s right to financial investments and to receive funds or other assets arising from this right;
transition to organizing financial risks associated with financial investments (risk of price changes, risk of debtor insolvency, liquidity risk, etc.);
the ability of financial investments to bring economic benefits (income) to the organization in the future in the form of interest, dividends or an increase in their value (in the form of the difference between the sale (redemption) price of a financial investment and its purchase value, as a result of its exchange, use in repaying the organization’s obligations, increase current market value, etc.).

The primary documents on the basis of which financial investments are taken into account include:

Certificate of acceptance and transfer of securities;
- act of acceptance and transfer of contribution to joint activities;
- a memo on the posting of property by a friend conducting common business;
- bank statements and payment orders for the transfer of deposits in cash (for non-cash payments) or an outgoing cash order and a receipt for a cash receipt order (for cash payments);
- invoices for the transfer of property (assets) in payment for securities;
- inventory list of securities and forms of strict reporting documents (form No. INV-16) and other documents.

When checking the correctness of classifying objects as financial investments, it is necessary to find out whether the organization has rights to the security and whether it complies with the procedure for transferring rights to securities.

According to the form of fixation of rights expressed by a security, rights are divided into documentary and non-documentary.

In the documentary form, the owner is established on the basis of presentation of a properly executed security certificate or, in the case of deposit, on the basis of an entry in the securities account. The auditor must be presented with share certificates or a securities account statement.

In the non-documentary form, the owner is identified on the basis of an entry in the system for maintaining the register of securities owners or, in the case of deposit of securities, on the basis of an entry in the securities account. The auditor must be provided with a register or statement of the securities account.

The accounting unit for financial investments is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these investments, as well as proper control over their availability and movement. Depending on the nature of the financial investments, the order of their acquisition and use, the unit of financial investments can be a series, batch, etc., i.e. homogeneous set of financial investments.

Typical mistakes are:

1) when paying for a contribution to the authorized capital of a limited liability company, the amount of the contribution is written off immediately to the organization’s expenses, although it should be reflected as part of financial investments;
2) when paying membership fees or paying a founding contribution to a non-profit organization, the amount of the contribution is reflected as part of financial investments, although according to the law the organization has no rights to these amounts and such amounts are not financial investments;
3) the rights of claim acquired under an assignment agreement are not reflected as part of financial investments, but are listed on account 76 “Settlements with debtors and creditors”.

When checking the execution of primary documents, it should be taken into account that a security is a strictly formal document, its form and mandatory details must comply with the requirements established by law for certain types of securities. The absence of mandatory details of a security or the non-compliance of a security with the form established for it entails its nullity (Article 144 of the Civil Code of the Russian Federation). Therefore, the auditor must conduct both a formal check of securities forms and an arithmetic check of the source documents used in processing transactions.

Checking the primary documents for accounting for financial investments is especially important, since these documents determine the special procedure for transferring ownership of securities.

The documents on the basis of which financial investment objects are accepted for accounting must indicate the purpose of the acquisition and the period during which the object is expected to be used.

Next, the auditor must check the correctness of the assessment of financial investments. In accordance with the requirements of PBU 19/02, when purchasing securities under a purchase and sale agreement, financial investments are taken into account in the amount of actual costs for the investor.

Amounts paid in accordance with the contract to the seller;
amounts paid to organizations and other persons for information and advisory services related to the acquisition of these assets. If an organization is provided with information and advisory services related to making a decision on the acquisition of financial investments, and the organization does not make a decision on such acquisition, the cost of these services is included in the financial results of a commercial organization (as part of operating expenses) or in an increase in the expenses of a non-profit organization of that reporting period when the decision was made not to purchase financial investments;
remuneration paid to an intermediary organization or other person through which assets were acquired as financial investments;
other costs directly related to the acquisition of assets as financial investments.

When purchasing financial investments using borrowed funds, the costs of loans and borrowings received are taken into account in accordance with the Accounting Regulations “Accounting for loans and credits and the costs of servicing them.” General and other similar expenses are not included in the actual costs of acquiring financial investments, except when they are directly related to the acquisition of financial investments.

If the amount of costs (except for the amounts paid in accordance with the agreement to the seller) for the acquisition of such financial investments as securities is insignificant compared to the amount paid in accordance with the agreement to the seller, the organization has the right to recognize such costs as other operating expenses in that reporting period , in which the specified securities were accepted for accounting.

When receiving securities under a gift agreement (free of charge), they are valued at market prices on the date of acquisition.

If financial investments are made in foreign currency, it is necessary to check these transactions for compliance regulations currency regulation.

Financial investments, the value of which is expressed in foreign currency, are valued in ruble equivalent at the rate established by the Central Bank of the Russian Federation on the date of the transactions.

The auditor checks whether securities with a maturity of more than one year are overvalued, since revaluation and reflection of exchange rate differences are carried out only for securities accounted for as part of short-term financial investments, as well as for funds on deposits placed by the organization in the prescribed manner (p 7 PBU 3/2000).

Expenses associated with servicing the financial investments of an organization, such as payment for bank and/or depository services for storing financial investments, providing an extract from a securities account, etc., in accordance with PBU 19/02, should be classified as operating expenses of the organization.

Audit of subsequent assessment of financial investments

The initial cost of financial investments at which they are accepted for accounting may change in cases established by law and PBU 19/02.

For the purposes of subsequent assessment, financial investments are divided into two groups by which the current market value can be determined and by which their current market value cannot be determined.

Financial investments for which the current market value can be determined in the prescribed manner are reflected in the financial statements at the end of the reporting year at the current market value by adjusting their valuation as of the previous reporting date. The organization can make this adjustment monthly or quarterly.

The auditor is obliged to check the correctness of the classification of financial investments into these groups, as well as the procedure for determining the market quotation of investments in the first group as of the reporting date.

The difference between the assessment of financial investments at the current market value as of the reporting date and the previous assessment of financial investments should be attributed to the financial results of a commercial organization (as part of operating income or expenses) or an increase in income or expenses of a non-profit organization in correspondence with the financial investment account.

Financial investments for which the current market value is not determined are subject to reflection in accounting and financial statements as of the reporting date at their original cost (taking into account the requirements for reflecting the depreciation of financial investments).

For debt securities for which the current market value is not determined, the organization is allowed to attribute the difference between the initial value and the nominal value during the circulation period of the securities evenly as the income due on them (in accordance with the terms of issue) to the financial results of the commercial organization (in operating income or expenses) or to reduce or increase the expenses of a non-profit organization. In this case, the auditor checks the correctness of the calculations made and the reliability of the valuation of debt securities as of the reporting date.

For debt securities and loans provided, an organization can calculate their valuation at present value. In this case, no accounting entries are made. The auditor must check the validity of such a calculation if data on the discounted value are given in the notes to the financial statements.

Audit of disposal of financial investments

In accordance with PBU 19/02, the disposal of financial investments in the accounting records of an organization is recognized on the date of the one-time termination of the conditions for their acceptance for accounting.

When disposing of an asset accepted for accounting as a financial investment for which the current market value is not determined, the value of the asset is determined based on the assessment in one of the following ways:

At the initial cost of each accounting unit of financial investments;
at the average initial cost;
at the original cost of the first financial investments acquired (FIFO method).

The assessment at the historical cost of the first financial investments acquired is based on the assumption that securities are written off within a month or another period in the sequence of their acquisition (receipt), i.e. the first securities written off must be valued at the original cost of the first securities at the time of acquisition, taking into account the original cost of the securities listed at the beginning of the month. When applying this method, the valuation of securities in balance at the end of the month is carried out at the original cost of the most recent acquisitions, and the cost of sold securities takes into account the cost of earlier acquisitions.

The application of one of the specified methods for a group (type) of financial investments is based on the assumption of consistency in the application of accounting policies. The auditor must study the provisions of the accounting policy, which indicate the valuation method chosen by the organization, and, by recalculation, check its compliance when reflecting transactions on the disposal of investments.

Audit of balance sheet data

To confirm the reliability of financial statements and accounting data, the auditor checks the correctness of the inventory of financial investments.

During the check, he determines:

Are the deadlines for conducting an inventory of financial investments established in the order on accounting policies and are these deadlines observed;
the correctness of execution of inventory documents (does the organization use unified forms of inventory records, is the completeness and accuracy of the data on the actual availability of securities when stored in the organization’s cash desk, etc.) ensured?

If securities are stored in an organization, their inventory is carried out simultaneously with the inventory of cash. When storing securities in special organizations (banks, depositories, specialized storage facilities), inventory consists of reconciling the balances of the amounts listed in the relevant accounting accounts of the organization with data from statements of these special organizations.

Inventory records must indicate the issuers, the name of the security, series, number, nominal and actual cost, repayment terms and total amount. The auditor uses inventory materials when checking the timeliness and completeness of reflection in the accounting records of income received from securities. Income received by the organization from financial investments is recorded in account 91 “Other income and expenses” and, in accordance with the Accounting Regulations “Income of the Organization” (PBU 9/99), is classified as operating income. A typical mistake is the reflection of income that is not actually received, but is subject to accrual. For example, uncollected interest on loans issued.

The assessment of financial investments at the end of the reporting period is carried out depending on the accepted method for assessing financial investments upon their disposal, i.e. at the current market value, at the original cost of each accounting unit of financial investments, at the average original cost, at the original cost of the first financial investments acquired (FIFO method).

The auditor must study the provisions of the accounting policy, which indicate the valuation method chosen by the organization, and, by recalculation, check its compliance when reflecting the balance of the financial investment account.

When checking the correctness of the assessment of the value of financial investments at the reporting date, the auditor takes into account the requirements for accounting for their impairment.

Impairment is recognized as a sustained significant decrease in the value of financial investments for which their current market value is determined below the economic benefit that the organization expects to receive from these financial investments under normal conditions of its activities. In the event of impairment, based on the organization's calculation, the estimated value of financial investments is determined, equal to the difference between their value at which they are reflected in accounting (accounting value) and the amount of such reduction.

A sustainable decline in the value of financial investments is determined by the simultaneous presence of the following conditions:

At the reporting date and at the previous reporting date, the book value of financial investments is significantly higher than their estimated value;
during the reporting year, the estimated value of financial investments changed significantly downward;
As of the reporting date, there is no evidence that the estimated value of these financial investments may increase in the future.

The issuing organization exhibits signs of securities owned by the organization or its debtor under the loan agreement or declares it bankrupt;
execution of a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value;
absence or significant decrease in income from financial investments in the form of interest or dividends with a high probability of a further decrease in these income in the future, etc.

If a situation arises in which impairment of financial investments is possible, the auditor should check the conditions steady decline the cost of financial investments.

If the impairment test confirms a significant decrease in the value of financial investments, the auditor checks the creation of a reserve for impairment of financial investments by the amount of the difference between the book value and the estimated value of such financial investments.

If such a reserve is created, the auditor checks the correctness of the reflection of financial investments in the balance sheet; their value must be indicated minus the reserve amounts. The auditor also checks the completeness of disclosure in the information about the reserve for impairment of financial investments, which should indicate: the type of financial investments; the amount of the reserve created in the reporting year; the amount of the reserve recognized as operating income of the reporting period; the amount of the reserve used in the reporting year.

If there is no such reserve, the auditor suggests that the organization make corrections to the accounting and make an entry about the creation of the reserve. If an organization refuses to make corrections to the accounting, if the amount of impairment is significant, the auditor has the right to issue an audit report with a caveat that the value of financial investments is incorrectly assessed.

In financial statements, financial investments must be presented with a division by maturity (maturity): short-term and long-term. The auditor checks the correct classification of financial investments. Since the classification depends on the organization’s intention to hold or sell financial investments (transfer or otherwise dispose of), the auditor must examine the organization’s internal documents confirming these intentions, or make a special request on this matter to the management of the audited entity.

The auditor checks the completeness of disclosure of information about financial investments in the notes to the financial statements, which, in accordance with the requirements of PBU 19, must at least disclose the following information:

Methods for assessing financial investments upon their disposal by groups (types);
the consequences of changes in the methods of assessing financial investments upon their disposal;
the value of financial investments for which the current market value can be determined and for which the current market value cannot be determined;
the difference between the current market value as of the reporting date and the previous assessment of financial investments by which the current market value was determined;
debt securities for which the current market value has not been determined;
the difference between the original cost and the nominal value during their circulation period;
value and types of securities and other financial investments encumbered with collateral;
the value and types of retired securities and other financial investments transferred to other organizations or persons (except for sale).

The following data is considered for debt securities and loans provided: their valuation at discounted value; the value of their discounted value; applied discounting methods (disclosed in the notes to the balance sheet and profit and loss statement).

PBU financial investments

1. These Regulations establish the rules for the formation in accounting and financial reporting of information about the organization’s financial investments. An organization is further understood as a legal entity under the laws of the Russian Federation (with the exception of credit organizations and state (municipal) institutions).

This Regulation is applied when establishing the features of accounting for financial investments for professional participants in the securities market, insurance organizations, non-state pension funds.

2. For the purposes of these Regulations, in order to accept assets for accounting as financial investments, the following conditions must be simultaneously met:

Availability of properly executed documents confirming the existence of the organization’s right to financial investments and to receive funds or other assets arising from this right;
- transition to the organization of financial risks associated with financial investments (risk of price changes, risk of debtor insolvency, liquidity risk, etc.);
- the ability to bring economic benefits (income) to the organization in the future in the form of interest, dividends or an increase in their value (in the form of the difference between the sale (redemption) price of a financial investment and its purchase value as a result of its exchange, use in repaying the organization’s obligations, an increase in the current market cost, etc.).

3. Financial investments of an organization include: state and municipal securities, securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills); contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies); loans provided to other organizations, deposits in credit institutions, receivables acquired on the basis of assignment of claims, etc.

For the purposes of these Regulations, contributions from a partner organization under a simple partnership agreement are also taken into account as part of financial investments.

The organization's financial investments do not include:

Own shares purchased by a joint stock company from shareholders for subsequent resale or cancellation;
- bills of exchange issued by the organization-issuer of the bill to the organization-seller when paying for goods sold, products, work performed, services rendered;
- investments of the organization in real estate and other property that has a tangible form, provided by the organization for a fee for temporary use (temporary possession and use) for the purpose of generating income;
- precious metals, jewelry, works of art and other similar valuables acquired for purposes other than ordinary activities.

4. Assets that have a tangible form, such as fixed assets, inventories, as well as intangible assets are not financial investments.

5. The accounting unit for financial investments is selected by the organization independently in such a way as to ensure the formation of complete and reliable information about these investments, as well as proper control over their availability and movement. Depending on the nature of the financial investments, the order of their acquisition and use, the unit of financial investments can be a series, batch, etc. homogeneous set of financial investments.

6. The organization maintains analytical accounting of financial investments in such a way as to provide information on the accounting units of financial investments and the organizations in which these investments are made (issuers of securities, other organizations in which the organization is a participant, borrowing organizations, etc.) .

For government securities and securities of other organizations accepted for accounting, analytical accounting must contain at least the following information: name of the issuer and name of the security, number, series, etc., nominal price, purchase price, expenses associated with acquisition of securities, total quantity, date of purchase, date of sale or other disposal, place of storage.

An organization can generate in analytical accounting additional information about the organization’s financial investments, including by their groups (types).

7. Features of the assessment and additional rules for disclosing information on financial investments in dependent business companies in financial statements are established by a separate regulatory act on accounting.

II. Initial assessment of financial investments

8. Financial investments are accepted for accounting at their original cost.

9. The initial cost of financial investments acquired for a fee is recognized as the amount of the organization’s actual costs for their acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation on taxes and fees).

The actual costs of acquiring assets as financial investments are:

Amounts paid in accordance with the contract to the seller;
- amounts paid to organizations and other persons for information and consulting services related to the acquisition of these assets. If an organization is provided with information and consulting services related to making a decision on the acquisition of financial investments, and the organization does not make a decision on such acquisition, the cost of these services is included in the financial results of a commercial organization (as part of other expenses) or an increase in the expenses of a non-profit organization of that reporting period when the decision was made not to purchase financial investments;
- remunerations paid to an intermediary organization or other person through which assets were acquired as financial investments;
- other costs directly related to the acquisition of assets as financial investments.

When purchasing financial investments using borrowed funds, the costs of received loans and borrowings are taken into account in accordance with the Accounting Regulations "Expenses of the Organization" PBU 10/99, approved by Order of the Ministry of Finance of the Russian Federation N 33n (registered with the Ministry of Justice of the Russian Federation registration N 1790) , and the Accounting Regulations “Accounting for loans and credits and the costs of servicing them” PBU 15/01, approved by Order of the Ministry of Finance of the Russian Federation N 60n (according to the letter of the Ministry of Justice of the Russian Federation N 07/8985-UD The Order does not require state registration) .

General and other similar expenses are not included in the actual costs of acquiring financial investments, except when they are directly related to the acquisition of financial investments.

10. Excluded. - Order of the Ministry of Finance of the Russian Federation N 156n.

11. If the amount of costs (except for the amounts paid in accordance with the agreement to the seller) for the acquisition of such financial investments as securities is insignificant compared to the amount paid in accordance with the agreement to the seller, the organization has the right to recognize such costs as other expenses of the organization, including the reporting period in which the specified securities were accepted for accounting.

12. The initial cost of financial investments made as a contribution to the authorized (share) capital of an organization is recognized as their monetary value agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation.

13. The initial cost of financial investments received by an organization free of charge, such as securities, is recognized as:

Their current market value as of the date of acceptance for accounting. For the purposes of these Regulations, the current market value of securities is understood as their market price, calculated in the prescribed manner by the organizer of trading on the securities market;
- the amount of funds that can be received as a result of the sale of received securities on the date of their acceptance for accounting - for securities for which the market price is not calculated by the organizer of trading on the securities market.

14. The initial cost of financial investments acquired under contracts providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the value of assets transferred or to be transferred by the organization. The value of assets transferred or to be transferred by an organization is established based on the price at which, in comparable circumstances, the organization usually determines the value of similar assets.

If it is impossible to determine the value of assets transferred or to be transferred by an organization, the value of financial investments received by the organization under agreements providing for the fulfillment of obligations (payment) in non-monetary means is determined based on the cost at which similar financial investments are acquired in comparable circumstances.

15. The initial cost of financial investments contributed to the contribution of the partner organization under a simple partnership agreement is recognized as their monetary value, agreed upon by the partners in the simple partnership agreement.

16. Excluded. - Order of the Ministry of Finance of the Russian Federation N 156n.

17. Securities that do not belong to the organization by right of ownership, economic management or operational management, but are in its use or disposal in accordance with the terms of the agreement, are accepted for accounting in the assessment provided for in the agreement.

III. Subsequent assessment of financial investments

18. The initial cost of financial investments at which they are accepted for accounting may change in cases established by law and these Regulations.

19. For the purposes of subsequent assessment, financial investments are divided into two groups:

Financial investments for which the current market value can be determined in the manner prescribed by these Regulations, and financial investments for which their current market value is not determined.
- Small businesses, with the exception of issuers of publicly placed securities, have the right to carry out a subsequent assessment of all financial investments in the manner established by these Regulations for financial investments for which their current market value is not determined.

20. Financial investments for which the current market value can be determined in the prescribed manner are reflected in the financial statements at the end of the reporting year at the current market value by adjusting their valuation as of the previous reporting date.

The organization can make this adjustment monthly or quarterly.

The difference between the assessment of financial investments at the current market value as of the reporting date and the previous assessment of financial investments is attributed to the financial results of a commercial organization (as part of other income or expenses) or an increase in income or expenses of a non-profit organization in correspondence with the financial investment account.

21. Financial investments for which the current market value is not determined are subject to reflection in accounting and financial statements as of the reporting date at their original cost.

22. For debt securities for which the current market value is not determined, the organization is allowed to attribute the difference between the initial cost and the nominal value during the period of their circulation evenly, as income is due on them in accordance with the terms of issue, to the financial results of the commercial organization ( as part of other income or expenses) or a decrease or increase in expenses of a non-profit organization.

23. For debt securities and granted loans, an organization can calculate their valuation at a discounted value. In this case, no accounting entries are made.

The organization must provide evidence that the calculation is reasonable.

24. Financial investments are reflected in the balance sheet as of the reporting date at a cost determined based on the requirements of these Regulations.

If the current market value is not determined for an object of financial investment previously valued at the current market value, such object of financial investment is reflected in the financial statements at the value of its last valuation.

IV. Disposal of financial investments

25. The disposal of financial investments is recognized in the accounting records of the organization on the date of the one-time termination of the conditions for their acceptance for accounting given in paragraph 2 of these Regulations.

Disposal of financial investments takes place in cases of redemption, sale, gratuitous transfer, transfer in the form of a contribution to the authorized (share) capital of other organizations, transfer on account of a contribution under a simple partnership agreement, etc.

26. When disposing of an asset accepted for accounting as a financial investment for which the current market value is not determined, its value is determined based on an assessment determined in one of the following ways:

At the initial cost of each accounting unit of financial investments; at the average initial cost;
- at the original cost of the first financial investments acquired (FIFO method).

The application of one of the specified methods for a group (type) of financial investments is based on the assumption of consistency in the application of accounting policies.

Advertisement accounting of financial investments.

28. Securities may be valued by the organization upon disposal at the average initial cost, which is determined for each type of securities as the quotient of dividing the initial cost of the type of securities by their quantity, consisting respectively of the initial cost and the amount of balance at the beginning of the month and the securities received in during a given month.

29. Valuation at the historical cost of the first financial investments acquired (FIFO method) is based on the assumption that securities are written off within a month or another period in the sequence of their acquisition (receipt), i.e. the first securities to be written off must be valued at the original cost of the securities of the first acquisitions, taking into account the original cost of the securities listed at the beginning of the month. When applying this method, the valuation of securities in balance at the end of the month is made at the original cost of the latest acquisitions, and the cost of the securities sold takes into account the cost of the earlier acquisitions.

30. When disposing of assets accepted for accounting as financial investments for which the current market value is determined, their value is determined by the organization based on the latest assessment.

31. For each group (type) of financial investments during the reporting year, one assessment method is used.

32. The assessment of financial investments at the end of the reporting period is carried out depending on the accepted method for assessing financial investments upon their disposal, i.e. at the current market value, at the original cost of each accounting unit of financial investments, at the average original cost, at the original cost of the first financial investments acquired (FIFO method).

33. Examples of the use of valuation methods when disposing of financial investments are given in the appendix to these Regulations.

V. Income and expenses on financial investments

34. Income from financial investments is recognized as income from ordinary activities or other income in accordance with the Accounting Regulations “Income of the Organization” PBU 9/99, approved by Order of the Ministry of Finance of the Russian Federation N 32n (registered with the Ministry of Justice of the Russian Federation registration number 1791).

35. Expenses associated with the provision of loans by an organization to other organizations are recognized as other expenses of the organization.

36. Expenses associated with servicing the financial investments of an organization, such as payment for bank and/or depository services for storing financial investments, providing an extract from a securities account, etc., are recognized as other expenses of the organization.

VI. Impairment of financial investments

37. A sustained significant decrease in the value of financial investments for which their current market value is not determined, below the amount of economic benefits that the organization expects to receive from these financial investments under normal conditions of its activities, is recognized as depreciation of financial investments. In this case, based on the organization’s calculations, the estimated value of financial investments is determined, equal to the difference between their value at which they are reflected in accounting (accounting value) and the amount of such reduction.

A steady decline in the value of financial investments is characterized by the simultaneous presence of the following conditions:

At the reporting date and at the previous reporting date, the accounting value is significantly higher than their estimated value;
- during the reporting year, the estimated value of financial investments changed significantly only in the direction of its decrease;
- at the reporting date there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future.

Examples of situations in which impairment of financial investments may occur are:

The issuing organization of securities owned by the organization or its debtor under the loan agreement shows signs of bankruptcy or is declared bankrupt;
- making a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value;
- absence or significant decrease in income from financial investments in the form of interest or dividends with a high probability of a further decrease in these income in the future, etc.

38. If a situation arises in which depreciation of financial investments may occur, the organization must check the existence of conditions for a sustainable decrease in the value of financial investments.

This check is carried out for all financial investments of the organization specified in paragraph 37 of these Regulations, for which there are signs of impairment.

If the impairment test confirms a sustained significant decline in the value of financial investments, the organization creates a reserve for impairment of financial investments in the amount of the difference between the book value and the estimated value of such financial investments.

A commercial organization forms the specified reserve at the expense of the organization’s financial results (as part of other expenses), and a non-profit organization - through an increase in expenses.

In the financial statements, the value of such financial investments is shown at book value minus the amount of the formed reserve for their depreciation.

A check for impairment of financial investments is carried out at least once a year as of December 31 of the reporting year if there are signs of impairment. The organization has the right to carry out this check on the reporting dates of the interim financial statements.

The organization must provide confirmation of the results of this inspection.

39. If, based on the results of an audit for impairment of financial investments, a further decrease in their estimated value is revealed, then the amount of the previously created reserve for impairment of financial investments is adjusted towards its increase and decrease in the financial result of a commercial organization (as part of other expenses) or an increase in expenses for a non-profit organization .

If, as a result of checking for impairment of financial investments, an increase in their estimated value is revealed, then the amount of the previously created reserve for impairment of financial investments is adjusted towards its decrease and increase in the financial result of a commercial organization (as part of other income) or decrease in expenses for a non-profit organization.

40. If, based on available information, the organization concludes that a financial investment no longer meets the criteria for a sustainable significant decline in value, as well as upon disposal of financial investments, the estimated value of which was included in the calculation of the reserve for impairment of financial investments, the amount of the previously created reserve for impairment for the specified financial investments is included in the financial results of a commercial organization (as part of other income) or a decrease in expenses in a non-profit organization at the end of the year or the reporting period when the disposal of the specified financial investments occurred.

VII. Disclosure of information in financial statements

41. In financial statements, financial investments must be presented with a division depending on the maturity period (maturity) into short-term and long-term.

42. In the financial statements, at least the following information is subject to disclosure, taking into account the materiality requirement:

Methods for assessing financial investments upon their disposal by groups (types);
- consequences of changes in the methods of assessing financial investments upon their disposal;
- the value of financial investments for which the current market value can be determined, and financial investments for which the current market value cannot be determined;
- the difference between the current market value as of the reporting date and the previous assessment of financial investments by which the current market value was determined;
- for debt securities for which the current market value has not been determined - the difference between the initial value and the nominal value during their circulation period, accrued in accordance with the procedure established by paragraph 22 of these Regulations;
- value and types of securities and other financial investments encumbered with collateral;
- value and types of retired securities and other financial investments transferred to other organizations or persons (except for sale);
- data on the reserve for depreciation of financial investments, indicating: the type of financial investments, the amount of the reserve created in the reporting year, the amount of the reserve recognized as other income of the reporting period; reserve amounts used in the reporting year;
- for debt securities and loans provided - data on their valuation at discounted value, on the value of their discounted value, on the discounting methods used (disclosed in the notes to the balance sheet and profit and loss statement).

Current financial investments

1. financial investments (divided, in turn, into current and long-term);
2. capital investments;
3. investment in turnover.

Financial and capital investments are represented by three groups of accounts for long-term investments:

1. account 14 “Long-term financial investments” with three sub-accounts;
2. account 35 “Current financial investments” with two sub-accounts;
3. account 15 “Capital investments”, with five sub-accounts.

Long-term financial investments are the following types of investments:

1. acquisition of long-term debt securities,
2. investments in the authorized capitals of other enterprises, including the acquisition of equity securities - shares,
3. providing long-term loans to other enterprises.

Current financial investments represent the following types of investments:

1. acquisition of short-term debt securities;
2. acquisition of equity securities (shares) for the purpose of further sale;
3. providing short-term loans to other enterprises.

In the investment accounting methodology, the difference is clearly visible between accounting for capital investments as internal investments and accounting for financial investments as investments in the activities of other entities.

The capital investment account (15) represents expenses for the acquisition of non-current assets, the initial cost of future fixed assets or intangible assets is formed on it, and the financial investment account (14, 35) represents the already established amount of investments that are quite ready for to bring investment income to the company.

Investments in turnover are represented on the balance sheet by current assets. Accordingly, the balance of all current asset accounts taken together represents the amount of working capital (own and borrowed) that the company currently has. The methodology for accounting for current assets has been outlined in other sections of this book.

Since long-term and current financial investments differ only in the urgency of the investment, we will consider them as one group.

Both long-term and current financial investments reflect different types of participation of one enterprise in the activities of another enterprise. Documents evidencing this participation are called financial instruments. Financial instruments can be primary and secondary (derivatives). For example, shares are primary financial instruments, and stock options are secondary or derivatives. Derivative financial instruments are more commonly referred to as derivatives.

Long-term financial investments represent long-term investments in the authorized capital of other enterprises and the provision of long-term loans to enterprises in order to obtain investment income.

By investing his assets in other enterprises, the investor stops counting them among the resources intended for internal consumption or exploitation, and begins to count them as an impersonal set of assets, united under the name “investment”. That is, from the moment of investment, they are no longer for the investing enterprise its buildings, structures, equipment, cash or reserves, but, regardless of their form, they represent shares, shares (shares), granted loans. From this moment on, these are buildings, structures, equipment, cash and reserves of another enterprise - an investment object, where, as they are consumed (used, exploited), these assets are gradually transformed into other forms, making a certain circuit.

Resources invested (invested) in another enterprise represent the investor’s financial assets, and documents that evidence investments are financial instruments. On the other hand, on the balance sheet of the enterprise - the investment object, these resources, taken into account as completely defined types of assets, in their total value are the investment property of the investor enterprise.

Current financial investments represent short-term investments in the activities of other enterprises and the provision of short-term loans to enterprises in order to obtain investment income (for a period not exceeding 12 months) or for the purpose of further resale of financial instruments.

Capital investments are the following types of investments:

1. expenses for the acquisition of fixed assets: buildings, equipment, Vehicle, land plots, working and productive livestock;
2. expenses for the acquisition of other durable material objects with the conduct of capital construction, design, survey and geological exploration work;
3. expenses for the acquisition of intangible assets.

Capital investment accounts, on the one hand, reflect the totality of expenses for the acquisition of capital assets, thus forming their initial cost, on the other hand, tangible (or intangible) objects that have not yet been put into operation, which can be sold or transferred even in an unfinished state free of charge.

Analytical accounting of capital investments is carried out according to cost items associated with the construction and acquisition of fixed assets - for each object under construction or acquired. At the same time, the construction of analytical accounting should provide the opportunity to obtain data on the costs of: construction work, reconstruction and modernization of fixed assets, drilling work, installation of equipment, design and survey work, other costs of capital investments in non-current tangible assets, as well as the costs of acquisition and creation of intangible assets - for each acquired object. Analytical accounting for the acquisition of working and productive livestock should provide the opportunity to obtain data on the costs associated with the formation of the main herd - by type of animal: cattle, pigs, sheep, horses, etc.

Risk of financial investments

In the most general view Risk is understood as the probability of losses or loss of income compared to the predicted option.

In particular, risk can be defined as the level of a certain financial loss. The loss can be expressed as follows:

A) the possibility of not achieving the goal;
b) uncertainty of the predicted result;
c) the subjectivity of assessing the predicted result.

A security that is associated with a larger loss is considered riskier. It is believed that government securities (assuming a stable economy) have little risk, since the variation in income on them is practically zero.

An ordinary share of any company is a riskier asset because... their income can vary significantly.

In this regard, there is another definition of the concept of “risk”: risk is the degree of variability of income that can be obtained by owning a given security.

The income that is provided by any security can consist of two elements:

Income from changes in the value of a security (share premium);
income from dividends received (interest).

Yield is the ratio of income to the original cost of an asset, expressed as a percentage (rate of return).

For example, an entrepreneur purchased shares a year ago at a price of 15 thousand. The current market price of the shares was 16.7 thousand, dividends received for the year amounted to 1 thousand.

Then the profitability will be equal to:

Dx =: 15.0 = 18%.

Managers need to consider risk when dealing with securities. The key idea that a manager should be guided by is: the required return and risk change in the same direction, i.e. proportional to each other.

It is clear that risk is a probabilistic assessment, so its quantitative measurement cannot be accurate. Depending on which technique is used, the level of risk may vary.

There are two main methods for assessing the risk of securities:

Sensitivity analysis;

The essence of the first method is to calculate the range of variation in the yield of securities based on:

Pessimistic profitability forecast;
most likely;
optimistic.

This range of variation is considered as a measure of the risk associated with a given security:

R = Do – Dp

The greater the range of variation in return (R), the greater the level of risk.

The essence of the second technique is to construct a probability distribution of profitability values, calculate standard deviation on the average return and coefficient of variation, which is considered as the risk level of a given security.

Thus, the higher the coefficient of variation, the riskier this type of security is.

Main stages of calculations:

1. predictive estimates of profitability values ​​and the probabilities of their implementation are made;
2. the most probable profitability is calculated;
3. standard deviation is calculated;
4. The coefficient of variation is calculated.

The risk of securities must be considered over time: the longer the planning horizon, the more difficult it is to predict the profitability of securities, i.e. the range of variation in profitability and the coefficient of variation increases. This means that the risk increases over time.

The main conclusion is this: the more long-term the type of security, the more risky it is, the greater the variation in profitability. For example, stocks are considered riskier than bonds because stocks have a perpetual lifespan.

The risk of an individual security cannot be considered in isolation.

Any new investment (security) must be analyzed from the point of view of its impact on changes in the profitability and risk of the investment portfolio as a whole.

Since all financial investments differ in the level of profitability and risk, their combination in a portfolio averages these quantitative characteristics, and in the case of their optimal combination, a significant reduction in the risk of a securities portfolio can be achieved.

To assess the risk of a securities portfolio, the same methods are used as for a separate type of securities, namely:

Market sensitivity analysis;
analysis of probability distribution of profitability.

But the peculiarity is that the initial data for calculations are based on a weighted arithmetic average.

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financial investment appraisal

The main tasks of analyzing financial investments include:

Analysis of directions for long-term financial investments;

Analysis of composition and structure;

Analysis of funding sources;

Evaluating the effectiveness of long-term financial investments.

The source of information for the analysis of reporting until 2011 was Form No. 5 “Appendices to the Balance Sheet”, and from the 2011 report, the breakdown of long-term financial investments is reflected in the notes to the balance sheet and profit and loss statement.

An approximate form of analysis of the volume, composition, structure and dynamics of long-term financial investments is presented in Appendix 1.

Based on the results of the above analysis, conclusions can be drawn about the impact of changes in the value of each type on the deviation of the total amount of long-term financial investments. In addition, the table will clearly illustrate changes in the composition and structure of long-term financial investments that occurred in the analyzed period.

Significant attention is paid to indicators 8 and 9.

This is due to the fact that negative values ​​of these indicators reflect the depreciation of the organization’s long-term investment portfolio, which is, of course, a negative phenomenon, and a change in them to a lesser extent characterizes a slowdown in the growth of the market value of the long-term investment portfolio and also cannot be assessed positively.

In the process of analyzing the effectiveness of financial investments, the volume and structure of investment in financial assets is studied with the determination of growth rates and profitability of financial investments both in general and for individual financial instruments. Let's present this in the form of the following table (see Table 2).

table 2

An example of analyzing the effectiveness of financial investments

Given in table. 2 data show that the profitability of financial investments increased in 2011 compared to 2010 by 1%, including due to:

Structures of financial investments by 0.1%:

The level of profitability of certain types of investments by 0.9%:

The yield of securities is also compared with the guaranteed income, which is taken as the refinancing rate of the Bank of Russia or interest on government bonds or treasury bills.

Assessment and forecasting of the economic efficiency of acquired or acquired securities can be made using both absolute and relative indicators, that is, by determining the current market price (at which acquisition is possible) and intrinsic value (based on the subjective assessment of each investor) or by calculating regarding profitability. In this case, the difference between price and value of a financial asset is that price is an objective measure, while intrinsic value is an estimate (the result of the investor's own approach).

The calculation of current intrinsic value can be made by dividing the expected cash flow for a certain period by the expected or required rate of return on the financial instrument, taking into account the number of periods of earnings.

If the amount of investment costs, that is, the market value of the security, is higher than the current value of the security, it is profitable for the holder of this security to sell it, but in this case there is no benefit for the investor to purchase it due to the fact that he will receive a profit less than expected.

Based on the above, the current value of a security depends on:

Expected cash receipts;

The duration of the projected period of income generation;

Required rate of return.

The purpose of the analysis is to assess the feasibility of making financial investments.

Sources of information for the analysis are Form No. 1 “Balance Sheet”, Form No. 2 “Profit and Loss Statement”, Form No. 5 “Appendix to the Balance Sheet” (section “Financial Investments”), Explanatory Note.

The analysis is carried out in three stages. Each stage involves a comparison of indicators for the period under study and for the previous period.

First stage. Assessing the organization's capabilities to make financial investments. It is necessary to find out whether the organization has sufficient funds to make financial investments. To do this, a solvency analysis is carried out, financial stability, amount of funds. The methods of this analysis are given in separate topics and sections of this manual.

Second phase. Calculating the return on financial investments and comparing it with the return on assets as a whole. Financial investments are appropriate if their profitability exceeds that of the assets as a whole.

The information contained in the reporting makes it possible to separately calculate the profitability of financial investments in the authorized capital of other organizations and the overall profitability of other financial investments.

The first indicator is the profitability of financial investments in the authorized capitals of other organizations

where is the average balance of contributions to the authorized (share) capitals of other organizations (long-term and short-term) (calculated using a simple average according to Form No. 5 “Appendix to the Balance Sheet”, section “Financial Investments”);

FD – income from participation in other organizations (Form No. 2 “Profit and Loss Statement”, corresponding line).

The second indicator is common for financial investments in state and municipal securities, debt securities of other organizations, loans provided, deposits, and others. Income from these financial investments is reflected in the “Interest receivable” line of Form No. 2 “Profit and Loss Statement”. The profitability of these financial investments will be determined by the formula

, (4.13)

where is the average balance of long-term and short-term financial investments, with the exception of investments in other organizations (calculated using a simple average according to the corresponding lines of Form No. 5 “Appendix to the Balance Sheet”, section “Financial Investments”);

PP – interest receivable (form No. 2 “Profit and Loss Statement”, corresponding line).

The average balance of financial investments will be calculated most accurately using the interim balance sheet.

For a more accurate conclusion about the feasibility of specific financial investments, relevant information is needed for each type. This information, if necessary, can be presented in the Explanatory Note.

The return on financial investments should be compared with the average return on assets as a whole

where is profit before tax (form No. 2 “Profit and Loss Statement”, corresponding line);

– average balance of all assets (average balance sheet) (calculated using a simple average according to Form No. 1 “Balance Sheet”, lines 300 or 700).

Third stage. The indicators of the share in the balance sheet and the growth rate of financial investments are determined. These indicators are assessed based on the previously made conclusion about the feasibility of financial investments. In this regard, indicators of the share in the balance sheet and the growth rate should be calculated for the same groups of financial investments for which profitability was determined at the previous stage of analysis.

Data presentation forms for analyzing financial investments using the example of Metallurgical Plant OJSC are given in Tables 4.8 and 4.9.

Table 4.8 – Calculation of return on financial investments and assets in general

enterprises for 2008

End of table 4.8

Note. If we assume that during the year no contributions were made to the authorized (share) capital and income was received from investments available at the beginning of the year, then the profitability of these investments will be 5% ( ).

Table 4.9 – Calculation of indicators of dynamics and share in the total balance of financial

enterprise investments for 2008

Indicator, unit of measurement	Source of information or formula	Beginning of the year	The end of the year	Growth rate, %
1. Amount of long-term financial investments – total, thousand rubles, including:	Form No. 1, page 140			–78,0
Form No. 5, section “Financial investments”, line “Total”, gr. 3 and 4
1.1) long-term contributions to authorized capital	Form No. 5, section “Financial investments”, corresponding line, gr. 3 and 4		–	–100,0
1.2) long-term financial investments, with the exception of contributions to authorized capital	Form No. 5, section “Financial investments”, amount of the corresponding lines, gr. 3 and 4			703,1
2. Amount of short-term financial investments – total, thousand rubles, including:	Form No. 1, page 250			3444,4
Form No. 5, section “Financial investments”, line “Total”, gr. 5 and 6
short-term financial investments, with the exception of contributions to authorized (share) capital	Form No. 5, section “Financial investments”, sum of the corresponding lines, columns 5 and 6			3444,4
3. Balance sheet total, thousand rubles.	Form No. 1, pp. 300, 700	509 696	562 294	×
4. Share of all financial investments in the balance sheet, %		1,2	0,3
5. Share of the total balance of long-term and short-term deposits in other organizations, %		1,1	–	×
6. Share of the total balance of other long-term and short-term financial investments, %			0,3

There is a cash shortage at OJSC Metallurgical Plant (as can be seen from Form No. 1 “Balance Sheet”, the amount of cash is many times less than the value of the most urgent obligations - for taxes and fees, to state extra-budgetary funds, to personnel for wages) . Thus, the organization is not able to make financial investments.

The return on investment in the authorized (share) capital of other organizations - 9.9% - is slightly higher than the return on assets in general - 7%. Investments in the authorized capitals of other organizations took place only at the beginning of the year. If we assume that these investments were not made during the year and the income was received from investments available at the beginning of the year, then the profitability of these investments will be 5%. Thus, the return on assets in general and on investments in the authorized (share) capital of other organizations is approximately the same.

There were no income from other financial investments in 2008 and 2007.

The share of all types of financial investments in the balance sheet of OJSC Metallurgical Plant is insignificant. Of the total financial investments at the beginning of the year, 97.1% is made up of contributions to the authorized (share) capitals of other organizations (). The remaining part of financial investments is represented by “other”. At the end of the year, only “other” financial investments take place.

The amount of financial investments by the end of the year decreased by 72.6% . However, at the end of the year there are “other” financial investments that do not generate income. It is advisable to implement them.

Inventory analysis

The purpose of the analysis is to assess the possibility of the existence of excess inventories.

Sources of information for the analysis are Form No. 1 “Balance Sheet”, Form No. 2 “Profit and Loss Statement”, Form No. 5 “Appendix to the Balance Sheet” (section “Expenses for ordinary activities”), Explanatory Note.

Inventories, according to the corresponding line of the balance sheet, include: raw materials, materials and other similar valuables, animals for growing and fattening, costs in work in progress, finished products and goods for resale, goods shipped, deferred expenses, other inventories and costs.

According to financial statements, it is possible to calculate only the shares in the balance sheet and the growth rates of various components of reserves. The analysis of these indicators consists of identifying their uncharacteristic values. If there are none, then no conclusions should be drawn from the analysis results.

To assess the possibility of excess materials and finished products(and goods) their turnover periods should be calculated.

The analysis is carried out in two stages. Each stage involves a comparison of indicators for the period under study and for the previous period.

First stage. Estimation of the share of reserves in the balance sheet and the rate of their growth. The analysis of these indicators consists of identifying their uncharacteristic values.

Second phase. Calculation of inventory turnover periods.

The materials turnover period shows the length of time their average balance remains in the warehouse before release into production or other targeted consumption. If the average balance of materials is consumed over a long period, then there is a surplus of materials.

Material turnover period (in days)

, (4.15)

where is the average balance of raw materials, supplies and other similar assets (calculated using a simple average, according to the corresponding line of Form No. 1 “Balance Sheet”, the calculation will be most accurate when using interim balance sheets);

– average daily consumption of materials (calculated by dividing the consumption of materials for one year () by the number of days in a year (365));

MH – material costs (form No. 5 “Appendix to the Balance Sheet”, section “Expenses for ordinary activities (by cost elements)”, corresponding line). “Material costs” are the same as “material consumption”.

In order to express the turnover period in months, the average balance should be divided by the average expense for one month.

The material turnover period calculated from the financial statements is inaccurate. This is due to the fact that when calculating it, no other purposeful consumption of materials is taken into account, except for their release into production, for example, sale.

The turnover period of finished products is equal to the duration of their average balance in the warehouse before shipment to customers or other targeted consumption. A long period of turnover of finished products indicates the presence of surplus.

Finished product turnover period

(4.16)

where D is the number of days in the study period;

– average balance of finished products (calculated using a simple average according to Form No. 1 “Balance Sheet”, line “Finished products and goods for resale.” The calculation will be most accurate when using data from interim balance sheets);

– cost of goods sold, products, works, services (Form No. 2 “Profit and Loss Statement”, corresponding line).

The turnover period of finished products can be calculated not only for the year, but also for months and quarters when using intermediate forms No. 1 and No. 2. It should be borne in mind that Form No. 2 is compiled on an accrual basis from the beginning of the year. Therefore, when calculating, it is necessary to select data relating only to the month or quarter under study. The cost of goods sold for the month or quarter under study will be determined as the difference between these indicators in forms No. 2, compiled for the month or quarter under study and the previous one. When calculating the average balance of finished products, it is necessary to take into account that its balance at the beginning of the month or quarter under study is equal to the balance at the end of the previous month or quarter and is determined according to the balance sheet for the previous month or quarter.

The period of turnover of finished products according to financial statements will be calculated inaccurately. This is due to the following:

1) the targeted consumption of finished products is not taken into account, except for their sale, for example, use in their own production;

2) it is not taken into account that in Form No. 2 “Profit and Loss Statement” the total cost of not only sold products (goods), but also work (services) is given.

Data presentation forms for reserve analysis using the example of Metallurgical Plant OJSC are given in Tables 4.10 and 4.11.

Table 4.10 – Calculation of the share in property and indicators of stock dynamics

enterprises for 2008

End of table 4.10

Table 4.11 – Calculation of turnover periods for raw materials and finished products

enterprises for 2008

Of all reserves, a significant share in the property of Metallurgical Plant OJSC is occupied by raw materials (at the beginning of the year - 8.3%, at the end of the year - 16.3%) and finished products (at the beginning of the year - 7.5%, at the end year – 6.4%).

The turnover periods for materials and finished products are long – 97 days and 46 days, respectively. Consequently, there are excesses of these reserves, which leads to the diversion of funds from activities and to a shortage of financial resources.

Over the year, the balance of raw materials and supplies increased by 115.8%. This increase is irrational if it occurred at the expense of those types of raw materials and materials that are available in excess quantities.

The balance of finished products did not change significantly over the year.

Related information.

Introduction

Chapter 1. Methodological basis for accounting and analysis of financial investments

1.1 Classification and assessment of financial investments

1.2 Methodology for accounting for financial investments

1.3 Methodology for analyzing financial investments

Chapter 2. Organization of accounting and analysis of financial investments

2.1 Organizational and economic characteristics of the enterprise

2.2 Assessment of the organization of accounting for financial investments at the enterprise

2.3 Analysis of the movement of financial investments into the enterprise

Chapter 3 Improving the techniques of accounting and analysis of long-term investments in an enterprise

3.1 Measures to improve the technique of accounting for financial investments at the enterprise

Conclusion

Introduction

In the process of financial and economic activities, enterprises can divert funds in the form of financial investments in order to obtain additional income - dividends, interest, etc. Financial investments include investments in the authorized capital of other organizations and joint activities, as well as loans provided to other economic entities and others.

Financial investments are assets of an organization that are used to generate income, increase the value of capital or obtain other benefits, in particular to influence other organizations.

More and more Russian enterprises are using securities in their activities - in order to generate income, attract additional funds, including borrowed funds, and make payments.

On the other hand, securities are a special form of existence of capital, different from its commodity, productive, and monetary forms, which can be transferred instead of itself. Its essence is that the owner does not have the capital itself, but has all the rights to it, which are recorded in the form of a security. That is, securities are a type of so-called. fictitious capital, and in conditions of transience, a high degree of risk of business transactions, the complexity of the financial situation of most business entities, there is an objective need to obtain reliable information about their availability at the enterprise, their value and movement, the legality of conducting transactions with them. Errors and distortions in accounting for transactions with securities, if significant, can significantly affect the reliability of financial statements and cause significant material damage to an economic entity.

The main regulatory documents governing the accounting of financial investments are:

Federal Law of December 6, 2011 N 402-FZ “On Accounting”

PBU 19/02 (“Accounting for financial investments”), approved by Order of the Ministry of Finance of the Russian Federation dated December 10, 2002 No. 126n.

The purpose of this work is to study methods for improving accounting and analysis of financial investments.

The purpose of the work determines its tasks:

studying the analysis of the property and financial condition of the enterprise;

studying the analysis of financial investments of an enterprise;

studying the analysis of the accounting system and internal control of the enterprise;

develop measures to improve synthetic and analytical accounting of financial investments.

The object of the study is JSC "TEVTS"

The relevance of the chosen topic is that currently many organizations prefer to direct available funds into investments of various types.

The information base for the research is regulatory documentation, literature on accounting, analysis of financial and economic activities, publications of economic magazines and newspapers, registers of synthetic and analytical accounting of financial investments.

financial investment long-term investment

Chapter 1. Methodological basis for accounting and analysis of financial investments

1.1 Classification and assessment of financial investments

An organization's financial investments include: state and municipal securities, securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills); contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies); loans provided to other organizations, deposits in credit institutions, receivables acquired on the basis of assignment of claims, and others.

Financial investments are classified according to different criteria:

By purpose:

Purchased for the purpose of generating income from them

Purchased for resale purposes

Depending on the period for which purchased

Long-term (more than 1 year)

Short-term (produced for a period of up to 12 months)

A security is a monetary document certifying the property right or loan relationship of the owner of the document to the person who issued such a document.

When evaluating securities, the following indicators are taken into account:

par value - the amount indicated on the form of the security. The total value of all shares at par value reflects the amount of the organization's authorized capital;

issue price - the selling price of a security during its initial placement, which may not coincide with the face value. Difference between specified species valuations of securities, multiplied by their number, constitute the organization's share premium;

exchange rate (market) value - the price determined as a result of the quotation of securities on the secondary market. It reflects the equilibrium between aggregate demand and supply in a certain time interval;

liquidation value of shares and bonds - the value of the sold property of the liquidated organization in actual prices, paid per share or bond;

redemption value - the amount paid by a joint-stock company for the acquisition of its own shares or upon early redemption of bonds (the cost of the so-called “callable” shares and bonds);

book value of shares - determined according to balance sheet data by dividing own sources of property by the number of issued shares;

book value - the amount at which securities are reflected in the organization’s balance sheet at a given time.

In accordance with the Regulations on Accounting and Financial Reporting, financial investments are taken into account in the amount of actual costs for the investor.

For the purposes of subsequent assessment, an organization’s financial investments are divided into two groups, for which changes in value are reflected differently in accounting:

) financial investments for which the current market value can be determined.

) financial investments for which the current market value is not determined.

1.2 Methodology for accounting for financial investments

The rules for the formation in accounting of information about an organization’s financial investments are established by Federal Law dated December 6, 2011 N 402-FZ “On Accounting”, the accounting regulations “Accounting for Financial Investments” (PBU 19/02) approved by order of the Ministry of Finance dated December 10, 2002 No. 126n.

Financial investments are abstract funds designed to generate income for an enterprise over a certain period of time.

PBU 19/02 also establishes a list of assets that cannot be qualified as financial investments, namely:

Own shares purchased by joint stock companies from shareholders for subsequent resale or cancellation

Bills of exchange issued by the organization - the drawer of the bill to the organization - the seller in settlements for goods sold, products, work performed, services rendered

Investments of an organization in real estate and other property that has a tangible form, provided by the organization for a fee for temporary use (temporary possession and use) for the purpose of generating income;

Precious metals, jewelry, works of art and other similar valuables acquired for purposes other than normal activities.

Also, the contributions of an organization that is a partner under a simple partnership agreement are taken into account as part of financial investments.

In accordance with the Civil Code of the Russian Federation, the following are classified as securities: government bonds, bonds, promissory notes, shares and other documents that are classified as securities by laws on securities or in the manner established by them.

In addition to investments in securities, there are other types of financial investments.

A contribution to the authorized (share) capital is an investment by an organization in the form of monetary and (or) non-monetary funds into the authorized (share) capital of other organizations, designed to generate income from equity participation in the activities of another organization.

Providing loans to other organizations is one of the types of financial investments designed to generate income in the form of interest on the loan.

A contribution to a simple partnership is a type of financial investment by an organization made by it by contributing monetary and/or non-monetary funds together with other persons (partners) in a joint activity to make a profit or achieve another goal that does not contradict the law.

The process of movement of financial investments can be divided into three main stages:

The stage of receipt (purchase) of financial investments.

The stage of current accounting of financial investments.

The stage of disposal of financial investments.

At the first stage, financial investments are accepted for accounting. In accordance with PBU 19/02, financial investments must be accepted for accounting at their original cost.

There are various ways to form the initial cost of financial investments depending on the order of their acquisition or receipt by the organization.

The initial cost of financial investments acquired for a fee is recognized as the amount of the organization's actual costs for their acquisition, excluding VAT and other refundable taxes.

The actual costs of acquiring assets as financial investments are:

amounts paid under the contract to the seller

amounts paid for information and consulting services related to the acquisition of specified assets

fees paid to an intermediary organization or other person through which assets are acquired as financial investments

other costs directly related to the acquisition of assets as financial investments.

The list of actual costs for the acquisition of financial investments is open, i.e. provides for the possibility of including in their initial cost other costs directly related to the acquisition of assets as financial investments. In particular, the initial cost can include interest on borrowed funds accrued before accepting financial investments for accounting, if they were raised to purchase these financial investments.

General business and other similar expenses are not included in the actual costs of acquiring financial investments, except in cases where they are directly related to the acquisition of financial investments.

The initial cost of financial investments made as a contribution to the authorized capital of an organization is recognized as their monetary value, agreed upon by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation (clause 12 of PBU 19/02). Thus, the founders have the right to independently determine the value of the shares contributed to the authorized capital.

The initial cost of financial investments received by an organization free of charge is recognized as:

their current market value as of the date of acceptance for accounting. For the purposes of these Regulations, the current market value of securities is understood as their market price, calculated in the prescribed manner by the organizer of trading on the securities market;

the amount of funds that can be received as a result of the sale of received securities on the date of their acceptance for accounting - for securities for which the market price is not calculated by the organizer of trading on the securities market.

The initial cost of financial investments acquired under agreements providing for the fulfillment of obligations (payment) in non-monetary means is recognized as the value of assets transferred or to be transferred to the organization.

The initial cost of financial investments contributed to the contribution of the partnership organization under a simple partnership agreement is recognized as their monetary value agreed upon by the partners in the simple partnership agreement.

Any financial investments must be confirmed by primary documents that serve as the basis for their acceptance for accounting.

All investments in financial assets, regardless of the period of placement of funds, are accounted for in active account 58 “financial investments”

Account 58 “Financial Investments” is intended to summarize information on the availability and movement of an organization’s investments in government securities, shares, bonds and other securities of other organizations, authorized (share) capital of other organizations, as well as loans granted to other organizations.

Sub-accounts can be opened for account 58 “Financial investments”:

1 "Units and shares";

2 "Debt securities";

3 "Loans provided";

Subaccount 58-1 “Shares and shares” takes into account the presence and movement of investments in shares of joint-stock companies, authorized (share) capitals of other organizations, etc.

Financial investments made by the organization are reflected in the debit of account 58 “Financial investments” and the credit of accounts that record the values ​​​​to be transferred on account of these investments. The acquisition by an organization of securities of other organizations for a fee is carried out in the debit of account 58 “Financial investments” and the credit of account 51 “Currency accounts” or 52 “Currency accounts”.

For debt securities for which the current market value is not determined, the organization is allowed to attribute the difference between the initial value and the nominal value during their circulation period evenly, as income is due on them in accordance with the terms of issue, to the financial results of the commercial organization or a decrease or increase in expenses of a non-profit organization.

When writing off the amount in excess of the purchase price of bonds and other debt securities purchased by the organization over their nominal value, entries are made in the debit of account 76 “Settlements with various debtors and creditors” (for the amount of income due on securities) and in the credit of account 58 “Financial investments " (for part of the difference between the purchase and nominal value) and 91 "Other income and expenses" (for the difference between the amounts allocated to accounts 76 "Settlements with various debtors and creditors" and 58 "Financial investments").

When additionally accruing the amount of excess of the nominal value of bonds and other debt securities acquired by the organization over their purchase price, entries are made in the debit of accounts 76 “Settlements with various debtors and creditors” (for the amount of income due on securities) and 58 “Financial investments” ( for part of the difference between the purchase and nominal value) and to the credit of account 91 “Other income and expenses” (for the total amount allocated to accounts 76 “Settlements with various debtors and creditors” and 58 “Financial investments”).

Redemption (redemption) and sale of securities accounted for on account 58 "Financial investments" are reflected in the debit of account 91 "Other income and expenses" and the credit of account 58 "Financial investments" (except for organizations that reflect these transactions on account 90 "Sales ").

Subaccount 58-3 “Loans provided” takes into account the movement of monetary and other loans provided by the organization to legal entities and individuals (except for employees of the organization). Loans provided by the organization to legal entities and individuals (except for employees of the organization) secured by bills of exchange are accounted for separately in this subaccount.

Loans provided are reflected in the debit of account 58 “Financial investments” in correspondence with account 51 “Current accounts” or other relevant accounts. The loan repayment is reflected in the debit of account 51 “Current accounts” or other relevant accounts and the credit of account 58 “Financial investments”.

The provision of a deposit is reflected in the debit of account 58 “Financial investments” in correspondence with account 51 “Current accounts” and other relevant accounts for accounting for allocated property. Upon termination of a simple partnership agreement, the return of property is reflected in the credit of account 58 “Financial investments” in correspondence with the property accounts.

Analytical accounting for account 58 “Financial investments” is carried out by types of financial investments and objects in which these investments are made (organizations that sell securities; other organizations in which the organization is a participant; borrowing organizations, etc.). The construction of analytical accounting should provide the ability to obtain data on short-term and long-term assets. At the same time, accounting for financial investments within a group of interrelated organizations, about the activities of which consolidated financial statements are prepared, is kept separately in account 58 “Financial investments”.

Long-term financial investments are recorded in account 06 “Long-term financial investments”. Account 06 "Long-term financial investments" is active. The debit of this account reflects the financial investments of the enterprise (for a period of more than one year) from the credit of the corresponding accounts (08 “Capital investments”, 51 “Current account”, 52 “Currency account”, 10 “Materials”, 12 “Low-value and wear-and-tear items” and other accounts). From the credit of account 06, financial investments are written off to account 48 “Sale of other assets”.

Short-term financial investments are recorded in active account 58 “Short-term financial investments”. Subaccounts 58-1 “Bonds and other securities”, 58-2 “Deposits”, 58-3 “Provided loans” and others can be opened to this account.

1.3 Methodology for analyzing financial investments

The analysis makes it possible to determine the size of the absolute and relative increase in the entire property of the enterprise and its individual types. When identifying the reasons for the increase in property values, it is necessary to take into account the effect of inflation.

Financial investments in accordance with PBU 19/02 can be grouped as follows:

debt and equity securities, including government and municipal securities;

deposits in credit institutions;

receivables acquired on the basis of assignment of the right of claim;

contributions of an organization - a partner under a simple partnership agreement;

Financial investments perform various functions in the activities of the organization, among which the following can be noted:

obtaining additional income and stabilizing the income received by the organization from its core activities;

ensuring the liquidity of the organization and improving the structure of its balance sheet

use of liquid financial investments as collateral when obtaining a loan;

formation of a holding structure through participation in the authorized capital of other organizations.

It is worth mentioning another possible purpose of making financial investments - the withdrawal of assets through participation in the authorized capital of other organizations.

Income received by an organization from financial investments is reflected as part of operating and non-operating income and represents:

interest, discount income and income from appreciation of debt securities;

interest on loans provided;

dividends, income of participants and capital income from participation in the authorized capital of other organizations;

interest on deposits;

income from an increase in the exchange rate when placing funds on foreign currency deposits and other financial investments denominated in foreign currency (exchange income);

income received upon repayment of receivables acquired on the basis of an assignment of the right to claim, as the difference between the repaid amount and the costs of acquiring receivables;

income received from participation in a simple partnership;

Other income.

To assess the dynamics and structure of financial investments, the data of form No. 1 is used; to assess the profitability of financial investments, it is additionally necessary to use the data of form No. 2, Certificates and transcripts to it. At the same time, it is impossible to carry out a full analysis due to insufficient detail of information:

contributions to the authorized capital of other organizations;

debt securities;

loans provided to other organizations;

other investments.

When assessing the profitability of financial investments, it is necessary to compare the obtained profitability indicators with market interest rates, the inflation rate, the stock market index and the profitability of the core activities of the analyzed organization. It should be borne in mind that the functions performed by financial investments consist not only of generating additional income.

The algorithm for analyzing financial investments includes the following procedures:

identification of the company's investment strategy;

analysis of the condition and efficiency of use of fixed assets;

analysis of traffic indicators and profitability of financial investments.

To assess the dynamics and structure of financial investments, data from form No. 1 is used " Balance Sheet", to assess the profitability of financial investments, you must additionally use the data from Form No. 2 "Profit and Loss Statement", Certificates and transcripts to it. Thus, the dynamics and structure of financial investments can be assessed by the following components listed in the Appendix to the balance sheet:

contributions to the authorized capital of other organizations;

debt securities;

loans provided to other organizations;

other investments.

The profitability of financial investments according to reporting data can be determined by participation in the authorized capital and by loans provided:

Participation in the authorized capital of other organizations is calculated using formula (1):

where R is the profitability (profitability) of participation in the authorized capital of other organizations;

D - income from participation in other organizations;

FV is the average annual amount of financial investments in the form of contributions to the authorized capitals of other organizations.

Loans provided and debt securities purchased are calculated using formula (2):

where R is the profitability (profitability) of loans provided and debt securities purchased;

P - interest received;

FV - the average annual value of loans provided, deposits placed and debt securities purchased.

For more accurate calculations, it is necessary to use additional information about financial investments and apply the following formulas for the annual return on financial investments.

The profitability of the acquisition of receivables (based on the assignment of the right of claim) is calculated using formula (3):

(3)

where R is the profitability of the acquisition of receivables;

DZ k - funds received to pay off accounts receivable;

DZ n - funds spent on the acquisition of receivables;

d - duration of the operation, days.

The profitability of participation in a simple partnership is calculated using formula (4):

(4)

where R t is the profitability of participation in a simple partnership;

D t - income from participation in a simple partnership minus relevant expenses;

Вт - contribution under a simple partnership agreement;

d - duration of the operation, days.

Chapter 2. Organization of accounting and analysis of financial investments

2.1 Organizational and economic characteristics of the enterprise

CJSC "TEVTS" is guided in its activities by Federal Law No. 208-FZ "On joint stock companies", as well as the Charter. CJSC "TEVTS" has the rights legal entity from the moment of its state registration in the prescribed manner and has a certificate of state registration (Appendix A).

CJSC "TEVTS" has a current account and other accounts in banking institutions, a seal with its name, seals of the personnel department, stamps, forms with its name, and also has the right to have its own trademark, emblems and other necessary details.

Location of JSC "TEVTS":

Russia, Tyumen, st., building 3/1

Account 40702810067020100934 in OJSC "ZAPSIBCOMBANK"

BIC 047130639

INN/KPP 7203090972/720301001

The size of the authorized capital of the Company is 8,400 rubles and consists of ordinary registered shares with the same par value.

The total number of shares is 140 pieces.

The nominal value of one share is 60 (sixty) rubles.

The number of shares determines the share of each Shareholder in the Company’s property, both transferred to him and increased during the Company’s production and economic activities.

CJSC "TEVTS" owns separate property transferred to it as contributions and other contributions to the authorized capital by its shareholders, as well as received as a result of its business activities and is liable for its obligations with this property. The company is not liable for the obligations of its shareholders.

CJSC "TEVTS" has the right, on its own behalf, to carry out transactions and actions not prohibited by the legislation of the Russian Federation, to acquire and exercise property and other rights and bear obligations, to be a plaintiff and defendant in court (arbitration court) and arbitration courts.

The Company has the right to create branches and open representative offices on the territory of the Russian Federation in compliance with the requirements of the Federal Law “On Joint Stock Companies” and other federal laws.

CJSC "TEVTS" was created with the goal of saturating the consumer market with goods and services and making a profit.

The main activity of the enterprise ZAO "TEVTS" is:

design, installation and maintenance:

security, industrial, cable and satellite television systems;

access restriction systems;

systems fire alarm and executive fire automatics;

security alarm systems;

armor protection systems;

automated control systems;

telephone and radio communication systems.

CJSC "TEVTS" also carries out the following activities:

Providing services for checking the electromagnetic compatibility of hardware;

Production and sale of special products for installation work for low-current and other electrical systems;

Carrying out work on installation, repair and maintenance of support equipment fire safety buildings and structures;

Installation of equipment and control systems for emergency protection and alarm systems.

The Company has the right to carry out any other types of activities not prohibited by federal laws.

The company can engage in certain types of activities, the list of which is determined by law, only on the basis of a special permit (license). The right of the company to carry out activities for which it is necessary to obtain a license arises from the moment of receipt of the license or within the period specified therein and terminates upon expiration of its validity, unless otherwise established by law or other legal acts.

The organization's accounting is carried out by the organization's accounting department. The structure of the accounting service, the number of employees of individual accounting departments is determined internal rules and job descriptions of the organization.

The accounting department consists of a chief accountant, an accountant and a cashier. Chief Accountant appointed and dismissed from his position by order of the director. When appointing and dismissing a chief accountant, the acceptance and delivery of cases is formalized by an act after checking the state of accounting and reporting.

The objectives of accounting are:

Formation of complete and reliable information about the business processes and results of the organization’s activities;

Ensuring control over the availability and movement of property, use of material, labor and financial resources;

Timely prevention of negative phenomena in economic activity, identification and mobilization of on-farm reserves.

The organization maintains accounting records using a journal-order system. Accounting for property, liabilities and business transactions in accordance with the working (selected) chart of accounts.

The basis for entries in accounting registers are primary documents recording the fact of a business transaction, as well as accounting calculations (certificates).

The chief accountant of the organization signs, together with the head of the organization, documents that serve as the basis for the acceptance of commodity and material assets, cash, settlement, credit and financial obligations. The requirement of the chief accountant to document business transactions and submit the necessary documents and information to the accounting department is mandatory for all employees of the organization.

In case of disagreements between the head of the organization and the chief accountant regarding the implementation of certain business transactions, documents on them can be accepted for execution with a written order from the head of the organization, who bears full responsibility for the consequences of such transactions.

The chief accountant of the organization ensures control and reflection of all business transactions in the accounts, provision of prompt and effective information within the established time frame according to the document flow scheme.

The chief accountant of the organization signs, together with the head of the organization, documents that serve as the basis for the acceptance of inventory, cash, settlement, credit and financial obligations. He also does not have the right to accept for execution and registration documents on transactions that contradict the legislation of the Russian Federation.

The main indicators of the financial and economic activities of CJSC "TEVTS" are presented in table 2.1. The initial indicators are contained in the profit and loss statement form No. 2 (Appendix B).

Table 1 Key indicators of financial statements

The table shows that revenue from the sale of goods in 2011 compared to 2010 increased by 90,511 thousand rubles, therefore, the cost increased by 80,827 thousand rubles and gross income increased by 9,684 thousand rubles. With the increase in revenue from the sale of goods, there was an increase in the amount of distribution costs by 3,332 thousand rubles. A positive note is the increase in other income of 29 thousand rubles. It is also positive to note the increase in net profit in 2011 compared to 2010 by 4922 thousand rubles or 409.4%. The average annual cost of fixed assets increased in 2011 compared to 2010 by 3,612 thousand rubles or 120.9%. Labor productivity increased in 2011 compared to 2010 by 197.1%.

2.2 Assessment of the organization of accounting for financial investments at the enterprise

When assessing financial investments, it is guided by the Federal Law “On Accounting” 402-FZ, PBU 19/02, the Civil Code of the Russian Federation, the Tax Code of the Russian Federation.

To account for financial investments in CJSC TEVTS, account 58 “Financial investments” is used. This account is intended to summarize information about the availability and movement of an organization’s investments in government securities, shares, bonds and other securities of other organizations, authorized (share) capital of other organizations, as well as loans provided to other organizations.

The following sub-accounts have been opened to account 58 “Financial investments” in CJSC “TEVTS”:

2 "Debt securities";

3 "Loans provided";

4 “Deposits under a simple partnership agreement”, etc.

Subaccount 58-2 “Debt securities” takes into account the presence and movement of investments in government and private debt securities (bonds, etc.).

Subaccount 58-3 “Loans provided” takes into account the movement of monetary and other loans provided by the organization to legal entities and individuals (except for employees of the organization). Loans provided by the organization to legal entities and individuals (except for employees of the organization) secured by bills of exchange are accounted for separately in this subaccount.

In subaccount 58-4 “Deposits under a simple partnership agreement,” the partner organization takes into account the presence and movement of contributions to the common property under a simple partnership agreement.

Analytical accounting in CJSC "TEVTS" under account 58 "Financial investments" is carried out by types of financial investments and objects in which these investments are made (organizations that sell securities; other organizations in which the organization is a participant; borrower organizations, etc. ). The construction of analytical accounting should provide the ability to obtain data on short-term and long-term assets. At the same time, accounting for financial investments within a group of interrelated organizations, about the activities of which consolidated financial statements are prepared, is kept separately in account 58 “Financial investments”.

Accounting for financial investments is carried out both in total and in quantitative terms. In this case, the accounting unit for financial investments is selected by CJSC "TEVTS" independently in such a way as to ensure the formation of complete and reliable information about these investments, as well as proper control over their availability and movement.

In addition to acquisition for a fee, financial investments can be received by CJSC TEVTS in other ways (as contributions to the authorized capital, when carrying out commodity exchange (barter) transactions, etc.).

The initial cost of financial investments made to the account of CJSC "TEVTS" contribution to the authorized (share) capital is recognized as their monetary value, agreed upon by the founders (participants), unless otherwise provided by the legislation of the Russian Federation (clause 12 of PBU 19/02).

Regarding the formation of the initial cost of financial investments received free of charge, PBU 19/02 is defined only for securities for which the initial cost will be recognized (clause 13 of PBU 19/02):

Moreover, the current market value of securities in this situation means their market price, calculated in the prescribed manner by the organizer of trading on the securities market. That is, in other words, the market price of financial investments must be documented by a professional participant in the securities market or by official quotes on the stock exchange

Despite the fact that in PBU 19/02 the above procedure is noted only for securities, it can be extended to other types of financial investments received free of charge (of course, except for loans).

It should be borne in mind that the value of property received free of charge is included in the tax base for income tax as part of non-operating income (subparagraph 8 of Article 250 of the Tax Code of the Russian Federation).

The initial cost of financial investments acquired under agreements providing for the fulfillment of obligations (payment) in non-monetary means (for example, by exchange, offset of counterclaims, etc.) is recognized as the value of assets transferred or to be transferred to CJSC "TEVTS" (clause 14 of PBU 19/02). The value of assets transferred or to be transferred is established based on the price at which, in comparable circumstances, TEVTS CJSC usually determines the value of similar assets.

Unlike most types of property of JSC "TEVTS" (fixed assets, intangible assets, inventories, etc.), the revaluation of which is carried out only in exceptional cases, PBU 19/02 provides for a change in the initial value individual categories financial investments.

These financial investments are adjusted upon request on a quarterly basis (clause 20 of PBU 19/02). It is advisable to reflect the selected period in the accounting policy for accounting. As a result of these adjustments, at the end of the reporting year, financial investments are reflected in the financial statements at their current market value.

Financial investments may leave the organization in the following cases:

repayment of financial investments;

sale of financial investments (including through barter);

free transfer of financial investments;

transfer of financial investments in the form of a contribution to the authorized (share) capital of other organizations;

transfer of financial investments on account of a deposit under a simple partnership agreement;

other disposal of financial investments.

JSC "TEVTS" uses the FIFO method. Valuation at the historical cost of the first financial investments acquired (FIFO method) is based on the assumption that securities are written off within a month or another period in the sequence of their acquisition (receipt), that is, securities that are written off first should be valued at their original cost securities of the first acquisitions, taking into account the initial cost of securities listed at the beginning of the month. When applying this method, the valuation of securities in balance at the end of the month is made at the original cost of the latest acquisitions, and the cost of the securities sold takes into account the cost of earlier acquisitions (clause 29 of PBU 19/02).

When disposing of assets accepted for accounting as financial investments, for which the current market value is determined, CJSC TEVTS establishes their value based on the latest assessment (clause 30 of PBU 19/02). This means that the value of disposed financial investments will be equal to their original cost, taking into account all subsequent adjustments.

2.3 Analysis of the movement of financial investments into the enterprise

The main objectives of analyzing financial investments (cash) are:

operational, day-to-day control over the safety of cash and securities at the enterprise's cash desk;

control over the use of funds strictly for their intended purpose;

control over correct and timely payments to the budget, banks, and personnel;

control over compliance with payment forms established in contracts with buyers and suppliers;

timely reconciliation of settlements with debtors and creditors to eliminate overdue debts;

diagnostics of the absolute liquidity state of the enterprise;

promoting competent management of enterprise cash flows.

For the entire period 2010-2012. income from participation in other organizations is 0, and the average annual amount of financial investments in the form of contributions to the authorized capital of other organizations is 17 thousand rubles. This means the profitability (profitability) of participation in the authorized capital of other organizations is 0% for the entire period.

Table 1 - Analysis of the dynamics and structure of financial investments for 2010

Change per year

Influence of factors, %

Amount, thousand rubles

Amount, thousand rubles

Amount, thousand rubles

Growth rate, %

Share in the structure, %

Loans provided

Deposits

Total Including: long-term financial investments short-term financial investments

1914000 17000 1897000

1914000 17000 1897000

Table 2 - Analysis of the dynamics and structure of financial investments for 2011

Table 3 - Analysis of the dynamics and structure of financial investments for 2012

For the entire period 2010-2012. interest received is 0, the average annual value of loans provided, deposits placed and debt securities purchased in 2010 and 2011 is 1897 thousand rubles, and in 2011 100 thousand rubles. There is no trend in the profitability of issued loans and purchased debt securities. It remains at the same level and is equal to 0%.

By analyzing the data characterizing the organization’s financial investments, the following conclusions can be drawn. The structure of financial investments is dominated by short-term securities (bonds, bills), providing liquidity to the organization without loss of income. The profitability of financial investments is low, below inflation, and at the same time it is decreasing, which can be interpreted as a sign that the purpose of making financial investments was not to obtain current income: the obvious goals are to ensure liquidity through short-term financial investments and acquiring control of other entities through long-term financial investments.

It is necessary to take into account that income from financial investments is generated not only from current income (interest, income of participants), but also from capital income (growth in the value of investments), which is extremely difficult to track using financial statements.

Table 5 - Analysis of profitability of financial investments

Thus, the financial condition of CJSC TEVTS for the period from 2010 to 2012 can be characterized as financially stable, profitable, liquid and solvent.

Chapter 3 Improving the techniques of accounting and analysis of long-term investments in an enterprise

3.1 Measures to improve the technique of accounting for financial investments at the enterprise

The efficiency of an enterprise largely depends on financial investments. Accounting at the enterprise ZAO "TEVTS" is automated using "1C" Accounting. Currently, the final records of turnover in synthetic accounts are compared with data from other registers, and then the turnover is transferred to the General Ledger. Specialized computer accounting programs are configured to automatically reconcile the data of all created transactions and identify erroneous results. Based on the work done, we can conclude that CJSC TEVTS records financial investments quite correctly and accurately. To account for financial investments in CJSC TEVTS, account 58 “Financial investments” is used. This account is intended to summarize information about the availability and movement of an organization’s investments in government securities, shares, bonds and other securities of other organizations, authorized (share) capital of other organizations, as well as loans provided to other organizations. Analytical accounting in CJSC "TEVTS" under account 58 "Financial investments" is carried out by types of financial investments and objects in which these investments are made (organizations that sell securities; other organizations in which the organization is a participant; borrower organizations, etc. ).

The goal of an enterprise's financial policy is to build an effective financial management system aimed at achieving the strategic and tactical goals of its activities.

The main strategic objectives of developing the financial policy of an enterprise are:

maximizing enterprise profits;

optimizing the capital structure of the enterprise and ensuring its financial stability;

creation of an effective enterprise management mechanism;

As part of these tasks, it is necessary to carry out the following activities in a number of areas in the field of financial investment management:

conducting an analysis of the enterprise’s position on the market and developing a development strategy for the enterprise

Carrying out an inventory of property and restructuring the property complex of the enterprise

In the course of analyzing the financial and economic activities of an enterprise, the following recommendations can be made regarding increasing solvency and liquidity:

In addition, taking into account the negative phenomena identified during the analysis, it is possible to give some recommendations for improving and revitalizing the enterprise

take measures to reduce accounts receivable;

pay attention to the profitability of products and services, their competitiveness;

improve personnel policy;

think over and carefully plan pricing policies;

actively engage in planning and forecasting financial management at the enterprise.

Conclusion

In the process of completing the thesis, the financial investments of the enterprise were considered, as well as an analysis of financial investments. A number of conclusions and proposals were made in the area of ​​issues under consideration.

Chapter I discussed the methodological foundations of accounting and analysis of financial investments.

In Chapter II, an assessment was made of the accounting of financial investments in CJSC TEVTS." During the audit, it was revealed that the accounting of financial investments in CJSC TEVTS is carried out both in total and in quantitative terms. In this case, the accounting unit for financial investments is selected LLC "Helios" independently in such a way as to ensure the formation of complete and reliable information about these investments, as well as proper control over their availability and movement.

Financial investments are assessed using the FIFO method

Chapter III discussed measures to improve the techniques of accounting and analysis of long-term investments in CJSC "TEVTS"

The following conclusions were made to improve the financial and economic activities of CJSC "TEVTS"

improving inventory management;

improving management of receivables and payables

increase in equity capital;

obtaining long-term financing.

The purpose of this work is to study and evaluate the reflection technique

financial investments in financial statements, identifying areas for its improvement.

On the topic of the diploma, you can make a conclusion about accounting and analysis at Helios LLC

In the organization, accounting is carried out independently, accounting is automated.

The financial condition of the enterprise is characterized as absolutely liquid. The company has sufficient financial sources to meet all emerging obligations.

Balance sheet liquidity throughout the period under review differs from absolute. At the same time, profitability indicators tend to increase and in 2012 they had positive values, therefore, in this period the enterprise can be characterized as profitable.

During the analysis of financial investments at the TEVTS CJSC enterprise, no significant violations affecting the financial statements were found.

The head of the enterprise must study the internal environment of the organization and determine whether it has any strengths that will make it possible in the future to bring accounting at Helios LLC as close as possible to international standards.

Development of measures to improve synthetic and analytical accounting of financial investments. For convenience, it was proposed to introduce a document flow schedule for the organization.

Considering all the above indicators together, we can conclude that it is necessary to carry out a number of measures to further improve financial activities enterprises, among which there will be a reduction in costs, improvement in product quality, timely repayment of receivables and accounts payable, as well as further increase in profitability of activities.

The totality of the results obtained allows us to state that the problems of the research and development work have been solved and the goal of the research has been achieved.

Long-term and short-term financial investments are investments of cash or other assets in securities of various entities engaged in business activities.

The main goals of all financial investments are to make a profit, transform your savings into highly liquid ones, establish official relations with the issuing company or take control over it, gain access to certain market segments, and create corporate integrated structures.

Long-term and short-term financial investments, their types and objects

Depending on the goals pursued, liquidity and timing financial investments are usually divided into long-term and short-term, although there are no criteria for this division clearly defined by law. But under any circumstances, such a distinction today is very significant, because accounting and reporting for both long-term and short-term investments are displayed differently.

Today, objects of financial investment can be: bonds of municipal and state loans, shares of third-party enterprises and organizations, debt securities, accounts receivable, which were received in the form of concessions on the right to claim various contributions to the authorized capital, among other things, of both subsidiaries and fully dependent organizations and many others. etc.

And so long-term financial investments, what is it? Long-term investments include any financial instruments for a period of more than 1 year, as well as other types of investments that cannot be sold at any time.

It follows that those investments that were initially planned to be made earlier than 1 year can also become long-term in cases where, based on the market situation, the organization recognizes the impossibility of their implementation within a short period. Here we are talking about poorly liquid or generally illiquid assets.

It should be noted that through the tools of long-term financial investments, short-term investments can also be indirectly implemented. For example, instead of investing capital in the purchase of fixed assets that will develop new production, you can purchase the corporate rights of an enterprise (controlling stake) that already owns the relevant assets, or establish a subsidiary company, endowing it with authorized capital, through which the activities will be carried out. real investment.

Objects of long-term financial investments today include:

— shares (in other words, securities that fully certify the rights to property);

— bonds, bills, investment, as well as savings certificates (shares certifying all loan relationships);

— investments in authorized capital already third-party, both domestic and foreign enterprises;

- bonds of local and finally state loans;

— investments in associated companies and enterprises in which more than 25% of the shares belong to the investor and which are not joint ventures or subsidiaries of the investor himself.

Short-term financial investments, what is it?

Short-term financial investments include investment deposits in various financial instruments for a short period of time - up to 1 year. This type of financial injection is a form of temporarily used free funds of the organization for the purpose of further profits and protecting them from inflationary processes.

Due to the fairly high liquidity of this type of investment, it is equated to a ready-made means of payment, therefore it serves as a security for enterprises for urgent obligations. In other words, in financial management, short-term investments are treated as equivalent to assets denominated in money.

Today, short-term financial investments are widely popular both among large corporations and companies, which are usually legal entities.

This happens because, despite encouraging forecasts, the state of the economy is not the most stable and many investors have concerns about investing their own capital in any long-term projects.

As a rule, investors plan to buy and quickly sell securities. They do this in order to receive the expected profit within a short period of time (several months). It should be noted that when making short-term investments, sometimes use insider information, which is not always obtained from legal sources and does not always correspond to reality.

You also need to know that this type of investment, made in all kinds of certificates of deposit or deposits, short-term bonds, bills, savings certificates, and many others. etc. may not always bring significant income to the investor. For this reason, the presence of risks should be taken into account. If not so long ago, during short-term investing, the political situation could not be avoided, but today these risks carry enormous weight during the assessment of investment objects.

When making financial investments, both legal and private investors often seek assistance (analysis) from analysts who are able to correlate profits from invested capital and risks for several months in advance.

Analysis of financial investments. Basic tasks and goals

Analysis of financial investments is a set of management methods carried out in order to make a mutually beneficial decision on the use of the organization’s free funds. The level of efficiency of financial investments is calculated by comparison, expressed as cash flow from resources and the final results of their use. In general, this comparison in the general economy is an analysis of investments.

What are the challenges facing investment analysis?

• Firstly, it is the choice of the most highly effective investment among other investments in general.
• Next, finding among others the most effective investment portfolio.
• An important issue that is resolved by the analysis of financial investments is the calculation of the excess of results expressed in money, in other words, the profitability of these investments. Analysis of a financial investment allows an investor to calculate the profitability of their investments at the moment and for the near future.

Under any circumstances, the analysis of financial investments aims to motivate the investor’s decision to invest his own money in a specific organization, firm, company, production, etc.

Let us immediately note that during investment analysis, special programs are often used that allow multifactor analysis.

Accounting for short-term and long-term financial investments

All companies involved investment activities there is a need to keep records of financial investments. Essentially, value investments can have a current market value or a par value. The nominal value is the amount that is indicated directly on the form of any of the securities. The amount of the authorized capital is the totality of all shares at par value.

The current value of an investment is the price of exchange or sale of shares (security) between buyers and sellers of these assets. The resulting price for various shares is their market value.

In organizations, financial investments are recorded as assets either at the acquisition price or at cost. The cost includes the costs of remuneration of dealers and agents, payments to suppliers, fees from regulatory authorities and stock exchanges, fees for banking services, fees and taxes on funds transfers, fees for consultants, etc.

Initially (at the time of acquisition), long-term and short-term investments are accounted for at the cost of their purchase, and then they can be reflected in cost in this way:

For long-term investments:

• purchase price;
• value with revaluation;

For short-term deposits:

• market price;
• lowest cost (either market or acquisition).

Profitability or loss due to changes in the market price of short-term investments are recognized in the reporting periods in which they occurred.
If we take analytical accounting, both with long-term and short-term deposits, then it is carried out by the types of these investments, for example, stocks, shares, bonds, and also by investment objects, i.e. by names of issuers.

Analytical accounting for financial deposits, provides the opportunity to obtain complete, timely, and reliable information. To do this, all shares owned by the company are described in the accounting journal.

This log contains the following information:

— name of the issuer,

— purchase, then par value for all securities,

- serial numbers,

- date of sale and date of acquisition,

- their total number and other points.

In cases where these securities are stored in depositories, their details must be recorded in this journal.

Accounting for financial investments also involves conducting an inventory of them.. During inventory activities, the loans provided and the actual costs directly for the purchase of shares are checked. An analysis is carried out of the correctness of the execution of these securities, quantitative compliance with accounting data, the reality of their value, and the correct reflection of profitability or losses from transactions carried out with them.

In addition, during an inventory of current investments, it is important to reconcile the enterprise’s credentials and statements of organizations that perform the functions of maintaining a register and storing securities.

In its general sense, accounting for financial investments involves the use of general accounting tools and methods(registers, analytical and synthetic data, tax accounting, accounting, etc.).

Efficiency of financial investments

The main role in the process of justifying whether or not to make financial investments is played by determining their effectiveness. An investment project is considered to be quite effective if, in addition to the safety of the investor’s invested funds, their stable increase is ensured.

The level of investment efficiency is determined by comparison with other types of investments. And the economic assessment of the direct effectiveness of investments is determined using statistical and dynamic methods: discounting, determination of current net value, profitability, calculation of payback, determination of estimated rates of profitability, incl. and internal, etc.

MUST SEE:
Types of investments (financial investments)