Find out the financial condition of the company. Assessment of the financial condition of counterparties

Check the statement of shareholders' equity for more detailed information about changes in the equity section of the balance sheet during the reporting period.

You will be able to see how many shares are allowed for issue and how many of them are actually issued. In this report you can see the changes that have occurred in the items of ordinary shares, preferred shares, additional capital and retained earnings.

Let's consider the concept, calculation formula and economic meaning of the company's net assets.

Net assets (Net assetsEnglishNet Assets

) – reflect the real value of the enterprise’s property. Net assets are calculated by joint stock companies, limited liability companies, state-owned enterprises and supervisory authorities. The change in net assets allows you to assess the financial condition of the enterprise, solvency and level of bankruptcy risk. The methodology for assessing net assets is regulated by legislation and serves as a tool for diagnosing the risk of bankruptcy of companies.

Net asset value. Calculation formula

The assets include non-current and current assets, with the exception of the debt of the founders for contributions to the authorized capital and the cost of repurchasing their own shares. Liabilities include short-term and long-term liabilities excluding deferred income. The calculation formula is as follows:

NA – the value of the enterprise’s net assets;

A1 – non-current assets of the enterprise;

ZU – debts of the founders for contributions to the authorized capital;

ZBA – costs of repurchase of own shares;

P2 – long-term liabilities

P3 – short-term liabilities;

DBP – deferred income.

The amount of net assets is calculated based on the balance sheet data (Form No. 1), and the formula is as follows:

Example of calculating the net asset value of a business in Excel

Let's consider an example of calculating the value of net assets for the organization OJSC Gazprom. To estimate the value of net assets, it is necessary to obtain financial statements from the official website of the company. The figure below highlights the balance sheet lines necessary to estimate the value of net assets; the data is presented for the period from the 1st quarter of 2013 to the 3rd quarter of 2014 (as a rule, the assessment of net assets is carried out annually). The formula for calculating net assets in Excel is as follows:

Net assets=C3-(C6+C9-C8)

Video lesson: “Calculation of net assets”

Net asset analysis is carried out in the following tasks:

• Assessment of the financial condition and solvency of the company (see → “ “).
• Comparison of net assets with authorized capital.

Solvency assessment

Solvency is the ability of an enterprise to pay for its obligations on time and in full. To assess solvency, firstly, a comparison is made of the amount of net assets with the size of the authorized capital and, secondly, an assessment of the trend of change. The figure below shows the dynamics of changes in net assets by quarter.

Analysis of the dynamics of changes in net assets

Solvency and creditworthiness should be distinguished, since creditworthiness shows the ability of an enterprise to pay off its obligations using the most liquid types of assets (see →). Whereas solvency reflects the ability to repay debts both with the help of the most liquid assets and those that are slowly sold: machines, equipment, buildings, etc. As a result, this may affect the sustainability of the long-term development of the entire enterprise as a whole.

Based on the analysis of the nature of changes in net assets, the level of financial condition is assessed. The table below shows the relationship between the trend in net assets and the level of financial health.

Comparison of net assets with authorized capital

In addition to the dynamic assessment, the amount of net assets for an OJSC is compared with the size of the authorized capital. This allows you to assess the risk of bankruptcy of the enterprise (see →). This comparison criterion is defined in the law of the Civil Code of the Russian Federation ( clause 4 art. 99 Civil Code of the Russian Federation; clause 4 art. 35 of the Law on Joint Stock Companies). Failure to comply with this ratio will lead to the liquidation of this enterprise through judicial proceedings. The figure below shows the ratio of net assets and authorized capital. The net assets of OJSC Gazprom exceed the authorized capital, which eliminates the risk of bankruptcy of the enterprise in court.

Net assets and net profit

Net assets are also analyzed with other economic and financial indicators of the organization. So the dynamics of growth of net assets is compared with the dynamics of changes in sales revenue and. Sales revenue is an indicator reflecting the efficiency of an enterprise's sales and production systems. Net profit is the most important indicator of the profitability of a business; it is through it that the assets of the enterprise are primarily financed. As can be seen from the figure below, net profit decreased in 2014, which in turn affected the value of net assets and financial condition.

Analysis of net asset growth rate and international credit rating

In the scientific work of Zhdanov I.Yu. shows that there is a close connection between the rate of change in the net assets of an enterprise and the value of the international credit rating of such agencies as Moody’s, S&P and Fitch. A decrease in the economic growth rate of net assets leads to a decrease in the credit rating. This in turn leads to a decrease in the investment attractiveness of enterprises for strategic investors.

Summary

Net asset value is an important indicator of the amount of real property of an enterprise. Analysis of the dynamics of changes in this indicator allows us to assess the financial condition and solvency. The value of net assets is used in regulated documents and legislation to diagnose the risk of bankruptcy of companies. A decrease in the growth rate of an enterprise's net assets leads to a decrease not only in financial stability, but also in the level of investment attractiveness. Subscribe to the newsletter on express methods of financial analysis of an enterprise.

Fly-by-night counterparties can cause damage both to the state in case of tax evasion, and to the taxpayer, who will have to prove the validity of the tax benefit received when returning VAT or when accounting for expenses for profit tax purposes as a result of interaction with such unscrupulous counterparties.

Inspections are guided by the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated October 12, 2006 No. 53 "", which established the main signs of bad faith taxpayer and rules for their determination.

Taxpayers, in order to prove the exercise of due diligence and caution when choosing a counterparty, can turn to Public criteria
self-assessment of risks for taxpayers, used by tax authorities in the process of selecting objects for conducting on-site tax audits (approved by order of the Federal Tax Service of Russia dated May 30, 2007 No. MM-3-06/333@ " "), as well as explanations from financial authorities regarding the in which case the taxpayer is considered to have fulfilled the obligation to verify the counterparty.

In order to protect yourself from risks when conducting business and possible claims from tax authorities, there are many opportunities to verify the integrity of a potential business partner.

We have identified a number of actions that, in the opinion of tax authorities and courts, must be performed to confirm the exercise of due diligence and caution when choosing a counterparty.

You can find out whether a license was issued to a potential counterparty at websites of licensing authorities– for each type of activity the licensing authority will be different. For example, the Rospotrebnadzor website allows you to search through registers of licenses issued for activities related to the use of infectious disease agents and for activities in the field of using ionizing radiation sources.

7. Get acquainted with the annual financial statements of the counterparty. In accordance with clause 89 of the Regulations on accounting and financial reporting in the Russian Federation (approved by the Ministry of Finance of Russia dated July 29, 1998 No. 34n), the annual financial statements of the organization are open to interested users(banks, investors, creditors, buyers, suppliers, etc.) who can familiarize themselves with it and receive copies of it with reimbursement for the costs of copying, and the organization must provide an opportunity for interested users to familiarize themselves with the financial statements.

In addition, Rosstat is obliged to provide information on the annual financial statements of organizations free of charge (Regulations on the Federal State Statistics Service, approved by the Government of the Russian Federation dated June 2, 2008 No. 42, Rosstat dated May 20, 2013 No. 183 “On approval of the Administrative Regulations for the provision of Federal State Statistics Service of the state service "Providing interested users with accounting (financial) reporting data of legal entities operating on the territory of the Russian Federation."

8. Study the register of unscrupulous suppliers. Of course, a potential counterparty is not necessarily a participant in the procurement system for state and municipal needs, but there is such a possibility. Therefore, we still recommend going through this optional stage of verification and searching for the appropriate register, updated by the FAS of Russia.

9. Check the authority of the person signing the agreement. Courts often point to the need to verify credentials as a condition for recognizing a taxpayer as bona fide (FAS ZSO dated May 25, 2012 in case No. A75-788/2011, Eighth Arbitration Court of Appeal dated September 20, 2013 in case No. A46-5720/2013) . Moreover, if the taxpayer has received all the necessary documents and information, but has not verified the authority of the counterparty’s representative to sign the documents, this will be grounds for recognizing this taxpayer as dishonest (resolution of the Federal Antimonopoly Service of the Moscow Region dated July 11, 2012 in case No. A40-103278/11 -140-436).

When considering a case, if a signatory refuses to sign on documents, a handwriting examination- but sometimes it can be done without it (FAS UO dated June 30, 2010 No. F09-4904/10-S2 in case No. A76-39186/2009-41-833). However, more often the courts emphasize that a simple visual comparison of signatures and the testimony of a taxpayer’s representative cannot be considered a sufficient basis for recognizing that documents were signed by unidentified persons (decision of the Third Arbitration Court of Appeal dated October 13, 2010 in case No. A33-4148/2010).

And of course, the courts establish the fact of bad faith of the taxpayer in the event that the authorized representative of the counterparty at the time of signing the documents died(Higher Arbitration Court of the Russian Federation dated December 6, 2010 No. VAS-16471/10) or his powers were terminated(FAS PO dated February 28, 2012 No. F06-998/12 in case No. A65-14837/2011). On the other hand, the latter case cannot, in the opinion of the courts, indicate the receipt of an unjustified tax benefit if, before the conclusion of the controversial transaction, the taxpayer had a long-term economic relationship with the counterparty (FAS SKO dated April 25, 2013 No. F08-1895/13 in the case No. A53-12917/2012, resolution of the FAS ZSO dated October 27, 2011 No. F07-8946/11 in case No. A52-4227/2010).

Before signing documents, please pay attention to the following:

• Is the transaction being concluded for your counterparty large;
• hasn't it expired? term of office representative of the counterparty (as determined by the organization’s charter or power of attorney);
• Not limited whether charter powers of the director to conclude transactions the amount of which exceeds a certain value.

10. Make a request to the tax office at the place of registration of the counterparty. The courts emphasize that this is also regarded as a manifestation of the taxpayer’s prudence (FAS ZSO dated October 14, 2010 in case No. A27-26264/2009, FAS ZSO dated March 5, 2008 No. F04-1408/2008(1506-A45-34) in case No. A45-5924/07-31/153, Third Arbitration Court of Appeal dated October 11, 2013 in case No. A74-5445/2012, Eleventh Arbitration Court of Appeal dated September 5, 2012 in case No. A55-1742/2012 ).

Moreover, district arbitration courts confirm duty of the tax authorities provide the requested information within the range of information not recognized in accordance with tax secrecy. Thus, the FAS ZSO emphasized that the refusal of the inspectorate to provide information about the taxpayer’s counterparty affects the rights of the latter related to obtaining tax benefits, taking into account the taxpayer’s obligation to confirm due diligence and caution when choosing a counterparty (Resolution of the FAS ZSO dated December 14, 2007 No. F04- 67/2007(77-A67-32) in case No. A67-1687/2007).

Sometimes the courts even emphasize that the taxpayer had the opportunity to contact the relevant services to check the counterparty, but he did not do so (Resolution of the Federal Antimonopoly Service of the Moscow Region dated September 14, 2010 No. KA-A40/10728-10 in case No. A40-4632/10- 115-57).

True, occasionally the courts still come to the conclusion that the taxpayer could not apply to the inspectorate at the place of registration of the counterparty, since only tax authorities have such authority (FAS NWO of July 31, 2013 in case No. A13-8751/2012).

But even if the tax office refuses to respond to the request, the the fact of his direction will indicate that the taxpayer wanted to protect himself when choosing a counterparty and can serve in the future as evidence of due diligence. In this case, it is important that the request is submitted in person to the tax office (a copy of the request with an acceptance mark must be left on hand) or by mail with a receipt receipt and an inventory of the contents (in this case, one copy of the inventory and the returned notification will remain).

As we see, the positions of the courts regarding the scope of actions that need to be performed to verify the integrity of the counterparty vary. True, sometimes the courts are a little disingenuous.

Thus, they point out that the tax inspectorate did not prove the lack of due diligence of the taxpayer - on the contrary, when making controversial transactions, he was asked for notarized copies of the necessary documents. At the same time, the courts emphasize that in the field of tax relations there is presumption of good faith, and law enforcement authorities cannot interpret the concept of “bona fide taxpayers” as imposing additional obligations on taxpayers not provided for by law (Resolution of the Federal Antimonopoly Service of the Moscow Region dated January 31, 2011 No. KA-A40/17302-10 in case No. A40-30846/10-35 -187, resolution of the FAS MO dated December 16, 2010 No. KA-A40/15535-10-P in case No. A40-960/09-126-4, resolution of the FAS MO dated July 22, 2009 No. KA-A40/6386 -09 in case No. A40-67706/08-127-308).

This understanding of good faith was developed by the Constitutional Court of the Russian Federation in October 16, 2003 No. 329-O, which taxpayers often refer to when justifying their position. In particular, the Court emphasized that the taxpayer cannot be held responsible for the actions of all organizations participating in the multi-stage process of paying and transferring taxes to the budget.

At the same time, courts often indicate the need to request relevant documents from the counterparty, emphasizing what these actions mean for the taxpayer nature of the duty(FAS PO dated July 14, 2010 in case No. A57-7689/2009, FAS ZSO dated July 20, 2010 in case No. A81-4676/2009).

Sometimes the attention of the courts may be drawn to other details - for example, the conclusion of an agreement for the “trial” supply of goods small batch to check the counterparty (resolution of the Federal Antimonopoly Service of the Moscow District dated December 16, 2010 No. KA-A40/15535-10-P in case No. A40-960/09-126-4), the fact of registration of the counterparty in several days before the transaction (FAS UO dated November 28, 2012 No. F09-11410/12 in case No. A60-7356/2012), etc. Tax authorities may also refer to the fact that the counterparty organization has "mass leaders and founders", and this fact should have alerted the taxpayer (FAS MO dated November 3, 2011 No. F05-11505/11 in case No. A41-23181/2010).

In conclusion, we note that the presence only one sign of dishonesty counterparty, as a rule, is not an obstacle to recognizing the tax benefit received by the taxpayer as unjustified. However, their combination often makes tax inspectors wary, and the courts make a decision not in favor of the taxpayer.

Net assets - calculation formula for the balance sheet 2018-2019approved by the Russian Ministry of Finance. How to calculate a company's net assets? What conclusions can be drawn by analyzing the size of the company's net asset value? How often should you calculate your net worth? You will find answers to these questions in our article.

General concept of net assets

Assessing the performance efficiency and successfully planning the work of modern companies is impossible without analyzing their economic indicators. One of the most important values ​​among such indicators is the value of net assets (NA).

The value of net assets is the difference between the value of all the organization’s assets (property, land, cash, etc.) and the sum of all its liabilities (debts for taxes and payments to the budget, loans, etc.). To put it simply, net assets are those company funds that will remain after repaying debts to creditors.

The calculation of net assets is mandatory once a year and is reflected in the annual financial statements on line 3600 of Section 3 of the Statement of Changes in Capital. It is also done when necessary to obtain information about the current financial situation, to pay interim dividends or the actual value of the share to the participant.

How to calculate the net asset value according to the 2018-2019 balance sheet (formula)

To find out this, let us turn to the order of the Ministry of Finance of Russia dated August 28, 2014 No. 84n, which provides the procedure for their calculation.

It is valid for companies of the following forms of ownership:

• joint stock companies (public and non-public);
• limited liability companies;
• state and municipal unitary enterprises;
• cooperatives (industrial and housing savings);
• business partnerships.

According to Order No. 84n, to calculate the company’s net assets, the value of liabilities must be subtracted from the value of assets. The formula used for this is:

NA = (VAO + OJSC - ZU - ZVA) - (DO + KO - DBP),

NA - net assets;

VAO - non-current assets of the organization;

OJSC - current assets of the organization;

ZU - the debt of the founders to the organization to fill shares in the authorized capital;

ZBA - debt incurred during the repurchase of own shares;

DO - long-term obligations;

KO - liabilities of a short-term nature;

DBP - future income (in the form of government assistance and gratuitous receipt of property).

To calculate net assets, you can also use the data contained in the company's balance sheet. To calculate the value of net assets on the balance sheet, the formula can be modified:

NA = (line 1600 - ZU) - (line 1400 + line 1500 - DBP).

For more information about the values ​​​​given in this formula, read the article “Net assets - what are they on the balance sheet (nuances)?” .

Please note that it is not enough to simply do the calculation on a calculator; it must also be formalized. There is currently no approved form. Companies must develop a form for calculating net assets for 2018-2019 independently and approve it as an annex to their accounting policies. However, earlier, before the publication of Order No. 84n of the Ministry of Finance dated August 28, 2014, the form given in the appendix to Order No. 10 of the Ministry of Finance of the Russian Federation and the Federal Commission for the Securities Market of Russia dated January 29, 2003 No. 03-6/pz was used to calculate net assets. The form of this form lists all the indicators that are required to calculate net assets even now, therefore we consider its use acceptable (after its approval in the accounting policies of the organization).

You can download this form on our website:

Net Asset Value Analysis

It is easy to conclude that when analyzing net assets, the output should be a positive result. A negative one will indicate that the company is unprofitable and with a high degree of probability in the near future may become completely insolvent, that is, insolvent. The only exception can be a recently opened company, since during its existence the invested funds did not have time to justify themselves and did not generate income for objective reasons. Thus, the dynamics of calculating net assets is one of the key indicators of the company’s financial condition.

Note that when calculating and assessing net assets, the authorized capital of the company plays an important role. If the amount of net assets exceeds the amount of the authorized capital, this indicates the well-being of the company. If the net assets at some stage become less than the amount of the authorized capital, this indicates the opposite: the organization is operating at a loss.

What consequences await the company if net assets are less than the authorized capital, read.

Let us repeat: this situation is acceptable only for the 1st year of the company’s operation. However, if after this period the situation does not change in a positive direction, the company’s management is obliged to reduce the size of the authorized capital to the amount of net assets. If this figure is equal to or less than the minimum indicators established by law, the issue of closing the enterprise should be raised (clause 4, article 30 of the Law “On LLC” dated 02/08/1998 No. 14-FZ).

Read more about the consequences of negative NA values ​​in the material “What are the consequences of negative net worth?” .

Results

The amount of net assets is one of the most important indicators of the financial viability of an organization. The higher it is, the more successful the organization and the more attractive it is for investment. Only an organization with high net assets can guarantee the interests of its creditors. This is why it is necessary to be very careful when assessing the value of a company's net assets.