Автор работы: A***********@gmail.com, 27 Ноября 2011 в 19:27, курсовая работа
In the developed market economy three leading managing subjects operate: households, the enterprises of various patterns of ownership and the state which represents itself as the collective businessman. The enterprises of various organizational-legal forms and their association are the basic managing subjects who concentrate the most part of the public capital (property).
Organizational-legal forms of the enterprises define their financial features. It is very important to allocate the general characteristic features of the finance of the enterprises of modern organizational-legal forms and to establish the basic distinctions which define a choice of this or that form.
Practice shows that if the enterprises don't consider those or other financial features, characteristic for the form chosen by them it leads to conflicts between proprietors, managing directors and workers. The Organizational-legal form of the enterprise fixed in its constituent documents, should correspond to requirements of acts completely.
The organizational-legal form of the enterprise fixed in its constituent documents, should correspond to requirements of acts completely.
Let's consider features of the organization of the finance at the enterprises of various organizational-legal forms of managing.
According to the Civil code enterprise activity can conduct:
The individual businessman doesn't have in comparison with the legal body such important sign, as property isolation.
The legal body the organization which has in the property, economic conducting or an operational administration the isolated property admits and answers under the obligations with this property. It has the right to get and carry out on its own behalf the property and personal non-property rights, to perform duties, to be the claimant and the respondent in court. Legal bodies should have independent balance or the estimate.
The commercial and noncommercial organizations can be legal bodies.
Main objective of activity of the commercial organizations is profit extraction. The noncommercial organizations are created for the sake of achievement of a specific goal and can carry out enterprise activity only for its achievement.
The legal body is subject to the state registration and it is considered created from the moment of its registration.
The commercial organizations are created in the form of economic associations and societies, production co-operatives, the state and municipal unitary enterprises.
Classification of the organizations by patterns of ownership:
2.1 Finance of economic associations.
Full associations and a general partnership or special partnership concern to them.
The full association is an association of citizens which are engaged in enterprise activity according to the prisoner between them articles of incorporation on behalf of association and bear responsibility under its obligations property belonging to them. Management of activity of full association is carried out under the general coordination of all participants.
The authorized capital stock of full association is created at the expense of contributions of participants and in essence is share capital. By the time of registration of full association its participants are obliged to bring not less than half of contribution in share capital. Other part should be brought in the terms stipulated in articles of incorporation.
Participants of full association bear subsidiary responsibility under association obligations, i.e. not only association property, but also the personal property.
The profit (losses) of full association is distributed between its participants of proportionally share of their participation in share capital. If as a result of unprofitable activity of association cost of a net wealth of association became less sizes share capital the got profit isn't distributed between participants, and goes first of all on increase in a net wealth to the size exceeding the size of share capital.
General partnership (special partnership) – association in which along with full companions there are participants-investors. The General partnership is created and carries out the activity on the basis of articles of incorporation. In articles of incorporation conditions, size and structure of share capital, terms and an order of entering of shares of each companion are defined. The order of formation of an authorized capital stock is similar to an order of its formation in full association.
Management of association activity is carried out only by full companions. Investors don't participate in management.
Full companions – the participants who are carrying out the activity and answering for obligations association by the property on behalf of association.
Participants-investors
don't accept participation in enterprise activity of association and
are in effect investors. They divide there have arrived associations,
bear the liability for damages, the associations connected with activity,
within size of the contribution brought by it.
2.2 Finance of companies with limited and additional liability.
Limited liability company - a society founded by one or several persons, which authorized capital stock it is divided into shares in the sizes defined by constituent documents. Participants of limited liability company answer under its obligations and bear risk of the losses connected with activity of a society within cost of contributions brought by them that is important advantage in comparison with full association.
The limited liability company authorized capital stock is formed at the expense of contributions of its participants. The authorized capital stock size defines the minimum size of property guaranteeing interests of its creditors.
The limited liability company authorized capital stock can be increased at the expense of additional payments of its participants according to the law «About limited liability companies».
The company profit is defined in a generally established order. Distribution have arrived in limited liability company it is carried out according to the legislation. First of all from profit the profit tax and other payments in the budget are paid. Further the profit is distributed according to the order established in the charter of a company, on industrial and social development. The Rest is distributed between participants of a society of proportionally their share in an authorized capital stock if other isn't stipulated in constituent documents. In the event that in the charter the order of distribution of profit, being at the command societies isn't stipulated, the decision on its distribution should be accepted annually by meeting of founders. The unallotted profit of last years is a source of formation of the reserve capital. (10, 139)
Company with additional responsibility - a company founded by one or several persons, which authorized capital stock it is divided into shares in the sizes defined by constituent documents. Its participants bear solidary subsidiary responsibility under company obligations the property in the multiple size identical to all to cost of their contributions. Cost of contributions is defined by constituent documents. In case of bankruptcy of one of participants its responsibility under society obligations is distributed between participants to proportionally their dale in an authorized capital stock. All questions connected with distribution of profit, dare similarly to how they are defined for limited liability company.
Unlike
limited liability companies in companies with additional responsibility
its participants, at insufficiency of property of a society, answer
for obligations before its creditors the property in the multiple size
identical to all participants to the sum of contributions of an authorized
capital stock, that is bear subsidiary responsibility under its obligations
the property, is similar to participants of full associations and full
companions in special partnerships. (13, 57)
2.3 Finance of joint-stock companies.
Joint-stock company - a society, which authorized capital (joint-stock) is divided into certain quantity of actions. Shareholders (participants of joint-stock company) don't answer for obligations joint-stock company and bear responsibility within cost of actions belonging to them. The right to a share of the property of the shareholder proves to be true its share in a share capital. Each holder of actions possesses a part of property of joint-stock company according to a share of its actions in total of the actions released. In this sense the joint-stock company doesn't have own property. The joint-stock company legal status is defined by the Civil code and the law «About joint-stock companies».
Open joint-stock company – a company which participants can sell actions belonging to them without the consent of other shareholders. The open joint-stock company can carry out an open subscription to actions let out by it and to carry out their free sale in stock market on the conditions established by the law and other legal certificates. The minimum size of an authorized capital stock of open joint-stock company is established at a rate of 1000 minimum wage rates at date of society registration. At floating of a joint-stock company its actions should be distributed among participants. In a case if after the termination of the second and any next year cost of a net wealth of a society becomes less authorized capital stock the society is obliged to declare and register when due hereunder authorized capital stock reduction. If cost of a net wealth of a society appears less the than minimum size of an authorized capital stock defined by the law such society is subject to liquidation.
Increase an authorized capital stock joint-stock company can in two ways – by means of increase in face value of already available actions and by an additional share issue. Such decision can be accepted only after full payment of an authorized capital stock. The authorized capital stock increase isn't supposed with a view of a covering of the losses suffered by it. At change of quantity or the price of actions of a society for increase in its authorized capital stock there is an object of taxation on operation with securities.
The authorized capital stock is formed by placing simple and preference shares. And the share of preference shares shouldn't exceed 25 %. The Authorized capital stock goes on formation of production assets of a society.
The joint-stock company profit is defined and assessed with the profit tax in the same order, as for limited liability companies, however the further distribution of profit has the features. At distribution have arrived in a legislative order formation of reserve fund is provided. The financial reserve is intended for a covering of losses of joint-stock company, and also can be used on payment of dividends in the event that profits of fiscal year for this purpose insufficiently. Besides, from profit other funds similar to the reserve can be generated. For example, redemption fund which is created at the expense of deductions from profit in the size necessary for accumulation of the sum which in a consequence is used on repayment of the let out and placed bonds. Other part of profit goes on the expenses connected with development of manufacture, for social development and payment of percent on bonds and dividends under actions.
The
closed joint-stock company – a company which actions extend only
among its founders or other, in advance certain circle of persons. Such
company hasn't the right to carry out an open subscription to actions
let out by it or otherwise to offer them for acquisition to an unlimited
circle of persons. Shareholders of the closed joint-stock company possess
the right of priority of acquisition of the actions sold by other shareholders.
The authorized capital stock of the closed joint-stock company can't
be less than 100 minimum wage rates established at the moment of its
registration. The number of participants of the closed joint-stock company
is established by the law on joint-stock company, in case of excess
of number of participants the closed joint-stock company is subject
to transformation to open joint-stock company within a year, and after
this term – liquidations if the number of shareholders doesn't decrease
to the quantity established by the law. (12, 313)
2.4 Finance of production cooperatives.
Production cooperative - voluntary association of citizens on the basis of membership for the joint industrial or other economic activities, based on their personal labor or other participation and association of property shares.
The production cooperative has a number of financial features.
The production cooperative differs from economic societies and associations first of all that is based on voluntary association of the citizens who are not individual businessmen. The production cooperative — mainly association of persons, instead of capitals, it predetermines also the right of participation of members of cooperative society in board: each member of cooperative society has one voice irrespective of the size of the property share.
By the time of cooperative society registration its each member is obliged to bring not less than 10 % of the share, and other part - within a year from the moment of registration.
The profit in production cooperative is created by own work of its members by association of their personal efforts in industrial activity. Participation of members of production cooperative in industrial activity can be expressed in different forms, including by granting of the financial capital; Thus according to the law «About production co-operatives» restrictions on quantity of members of the cooperative society which is not accepting personal participation in its activity are established: the maximum quantity of "financial participants» shouldn't exceed 25 % of number of members of the cooperative society taking personal labor part in its activity.
Sources of formation of financial resources in production cooperative are; shares of members of cooperative society; incomes of own activity; credits: the property transferred in gift physical or legal bodies, and also other sources which have been not forbidden by the legislation.
Money, securities, other property, including property rights and other objects of civil law can be a share. Shares form share fund of production cooperative. Inherently this same, as an authorized capital stock in an economic society.
Along with share funds in production cooperative according to its charter other funds, including indivisible can be created.
The indivisible fund in production cooperative is the part of its property having concrete appointment which should be specified in the charter. The indivisible fund joins in structure of a net wealth at definition of the size of the share. The member of cooperative society has no right to indivisible funds.
One more financial feature of production cooperative defined by the Civil code, — subsidiary (additional) responsibility of a member of cooperative society for obligations of this cooperative society. The size and order of subsidiary responsibility is defined according to the Civil code and the law «About production co-operatives». The law, in turn, refers to the cooperative society charter, demanding, that it has defined the size and conditions of subsidiary responsibility, i.e. the Law doesn't limit members of cooperative society in a choice of the size of responsibility: it can be an equivalent of a share or the revenue, or the fixed sum having nominal character.
The
profit, being at the command cooperative society after payment of taxes
and other obligatory payments and deductions, is distributed between
its members according to their personal labor participation, and between
the members of cooperative society who are not accepting personal labor
participation in its activity, — according to the size of their share.
The order of distribution of profit is provided by the cooperative society
charter. However the size of the profit distributed between members
of cooperative society to proportionally sizes of their share, shouldn't
exceed 50 % of the profit which are subject to distribution. (9, 463)
2.5 Finance of unitary enterprises
The unitary enterprise - the commercial organization which has been not allocated with the property right on fixed for it by the proprietor property. Distinguish the unitary enterprises on the right of economic conducting and on the operational administration right. The state and municipal enterprises concern number of the unitary enterprises.
The civil legislation provides possibility of functioning of the unitary enterprise as the commercial organization.
The unitary enterprise based on the right of economic conducting, is created under the decision of the authorized state or municipal body. Accordingly the property of the unitary enterprise is in the state or municipal property. The unitary enterprise answers under the obligations with all property belonging to it, but doesn't bear responsibility under obligations of the proprietor of property. In turn the proprietor doesn't answer for obligations the enterprise. The head who is appointed by the proprietor or the body authorized by the proprietor operates the unitary enterprise. The size of the authorized capital of the unitary enterprise should be not less than the size defined in the law on the state and municipal unitary enterprises. The authorized fund should be completely paid by the time of the state registration of the unitary enterprise. If by results of a fiscal year cost of a net wealth of the enterprise becomes less sizes of the authorized capital last should be accordingly reduced.
In the form of the unitary enterprises the state and municipal enterprises can be created only.
The property of the state and municipal unitary enterprise is accordingly in the state and municipal property and belongs to such enterprise on the right of economic conducting or an operational administration.
At creation of the unitary enterprise to it means from the state or local budget for authorized capital formation are allocated. The size of the authorized capital, an order and sources of its formation are specified in the charter of the unitary enterprise.
Responsibility of the unitary enterprise for the obligations also depends on that, it is based on the right of economic conducting or an operational administration.
The right of economic conducting gives to the unitary enterprise wider rights in management of the finance, property.
The size of the authorized capital of the unitary enterprise based on the right of economic conducting, can't be less the sum defined by the law on the state and municipal unitary enterprises.
Under the decision of Government of RK on the basis of the property which is in state ownership, the unitary enterprise based on the right of an operational administration, — the state enterprise can be formed.
Government of RK the decision «About an order of planning and financing of activity of state factories (state factories, state economy)» has confirmed an order of planning and financing of activity of the state enterprises. In particular, it is established that is industrial-economic activities state factory is carried out according to the plan-order and the factory plan for development. It has the right to carry out the independent economic activities resolved by the state authorized body. Mutual relations of factory with suppliers of resources and production consumers are under construction on a contractual basis.