Topic 4
I.
II.
III.
IV. Forms of granting state and municipal property to the possession and use of other organizations
V.
Vi. Evaluation of equipment, vehicles
I. Characteristics of real estate
Real estate- these are physical objects with a fixed location in space and everything that is inseparably connected with them both below the surface and above the surface of the earth or everything that is a serving object, as well as the rights, interests and benefits arising from the ownership of objects. Physical objects are understood as indissolubly interconnected land plots and structures located on them.
The differences in the concept of real estate as an object of appraisal and in the definition of the Civil Code are reflected in Fig. 1.1.
The property
As an object of assessment In the definition
Civil Code
Earth as a physical object
and everything connected with it state registration
Land plots Land plots
Subsoil plots Subsoil plots
Isolated water bodies Isolated water bodies
Forests Forests
Perennial plantations Perennial plantations
Buildings Buildings
Constructions Constructions
Sea vessels
Aircraft
Inland navigation vessels
Space objects
Rice. 1.1. The concept of real estate as an object of appraisal and in the definition of the Civil Code
Consequently, a real estate object is understood, firstly, the enterprise as a whole as a property complex, and secondly, a land plot, an integral part of which can be:
o building (structure) or a group of buildings (structures) located on this site, underground structures related to this site;
o isolated water bodies, perennial plantings;
o engineering structures and networks connecting the land plot and the buildings (structures) located on it to the infrastructure facilities of a quarter or city. This also includes ownership shares in engineering infrastructure facilities that are jointly operated by the owners of real estate in a quarter or city;
o stationary land improvement facilities;
o elements of economic, transport and engineering support related to this property, but located outside the boundaries of its land plot;
o other objects that, in combination with the above-mentioned components of real estate, constitute an indissoluble structural or functional whole.
II. Depreciation of fixed assets of the enterprise. Their assessment
Depreciation is the process of transferring the value of fixed assets to the manufactured product. If the machine costs 100 thousand rubles, lasts 10 years and during this time 100 thousand parts (10 thousand per year) were manufactured on it, then he transferred 1 rubles to each part. its cost, and the annual depreciation deductions are 10 thousand rubles, i.e. 10 thousand parts * 1 rub.
Depreciation deductions- an element of the enterprise's costs for the production of products. After the sale of products as part of the proceeds, the amounts corresponding to the amortization deductions are transferred to the accounts of the enterprise. If the enterprise accumulated depreciation charges for this machine every year, then in 10 years the corresponding account would have been 100 thousand rubles. - the amount sufficient for the complete restoration (replacement) of the machine. Consequently, depreciation deductions are a source of simple (and, in certain cases, extended) reproduction of fixed assets.
In practice, depreciation charges for each object are not accumulated on a special account, and the amount of depreciation charges received for a certain period for all objects is sent to finance capital investments in this period. Targeted financing of depreciation charges - financing the replacement of elements of fixed assets.
In Russia, due to inconsistency in accounting and tax legislation, enterprises are forced to calculate depreciation charges for the same objects twice - for accounting purposes and for profit tax purposes.
The methods and procedure for calculating depreciation deductions for accounting are defined in the Accounting Regulations "Accounting for Fixed Assets" (PBU 6/01), approved by Order of the Ministry of Finance of Russia dated March 30, 2001 No. 26-n. The regulation provides for:
ü the organization, when accepting an object for accounting, determines its useful life. The determination of the useful life of an item of property, plant and equipment is based on the expected life of this item in accordance with the expected performance or capacity; expected physical wear and tear, depending on the operating mode (number of shifts), natural conditions and the influence of an aggressive environment, the repair system; regulatory and other restrictions on the use of this property (for example, the lease period).
The useful lives of objects determined by enterprises are necessary for calculating the norms (amounts) of depreciation deductions.
In practice, most enterprises do not determine the useful life of objects (this is a very laborious work), but use uniform rates of depreciation deductions for the full restoration of fixed assets, approved by Resolution No. 1072:
ü accrual of depreciation charges for fixed assets is made in one of the following ways: linear; by way of decreasing balance; by the method of writing off the cost according to the sum of the number of years of the useful life; method of writing off the cost in proportion to the volume of products (works);
ü during the reporting year, depreciation deductions for fixed assets are charged monthly regardless of the applied method of calculation in the amount of 1/12 of the annual amount;
ü accrual of depreciation charges for fixed assets is carried out regardless of the results of the organization's activities in the reporting period and is reflected in the accounting records of the reporting period to which it relates;
ü objects of fixed assets with a value of not more than 2000 rubles. per unit, as well as purchased books, brochures and other publications are allowed to be written off to production costs (sales costs) as they are released into production or operation;
ü depreciation is not charged for housing facilities (residential buildings, dormitories, apartments, etc.), external improvement facilities and other similar facilities (forestry, road facilities, specialized facilities and navigable environment, etc.), as well as productive livestock , buffaloes, oxen and deer, perennial plantations that have not reached their operational age. Items of fixed assets are also not subject to depreciation, consumer properties which do not change over time (land plots and natural resources).
Linear way... The annual amount of depreciation deductions is determined based on the initial cost or the current (replacement) value (in case of revaluation) of the object and the depreciation rate calculated based on the useful life of this object.
Decreasing balance method... The annual amount of depreciation deductions is determined based on the residual value of the object at the beginning of the year and the depreciation rate calculated based on the useful life of this object and the acceleration factor established in accordance with the legislation of the Russian Federation.
The acceleration factor is applied across the list of high-tech industries and effective species machines and equipment installed by federal executive authorities.
The method of writing off the value by the sum of the number of years of useful life. The annual amount of depreciation deductions is determined based on the initial cost or the current (replacement) cost (in case of revaluation) of the object and the ratio, in the numerator of which the number of years remaining until the end of the useful life of this object, in the denominator - the sum of the number of years of the useful life of the object ...
Method of writing off the cost in proportion to the volume of products (works). Depreciation is calculated based on the natural indicator of the volume of production (work) in the reporting period and the ratio of the initial cost of the object and the estimated volume of production (work) for the entire useful life of the object.
The linear method means straight-line depreciation. Diminishing balance and cost write-off methods by the sum of the number of years of useful life mean accelerated depreciation of fixed assets.
The methods and procedure for calculating depreciation charges for taxation of profits are defined in Art. 256-259 of the Tax Code of the Russian Federation.
Depreciable property is property, results of intellectual activity and other objects of intellectual property that are owned by the taxpayer and are used by the taxpayer to generate income and the cost of which is repaid by calculating depreciation.
The depreciable property does not include land, other objects of nature use (water, subsoil and other natural resources), as well as inventories, goods, securities, financial instruments of forward transactions (including forward, futures contracts, options).
The structure of depreciable property also does not include:
· Property of budgetary organizations;
Property of non-profit organizations, with the exception of property acquired in connection with the implementation entrepreneurial activity and used to carry out such activities;
· Property acquired with the use of budgetary allocations and other similar funds (in terms of the value attributable to the amount of these funds);
· Objects of external improvement (objects of forestry, road facilities, specialized structures of the navigable environment) and other similar objects;
· Productive livestock, buffaloes, oxen, yaks, deer, other domesticated wild animals (except for draft animals);
· Acquired buildings (books, brochures and other similar objects), works of art;
· Property, the initial cost of which is up to 10 thousand rubles. inclusive. The cost of such property is included in the composition of material costs in full as it is put into operation;
· Property acquired (created) at the expense of funds received in accordance with paragraphs. 15.20 p. 1 art. 251 of the Tax Code of the Russian Federation, as well as property specified in paragraphs. 7 clause 1 251 of the Tax Code of the Russian Federation.
The following fixed assets are excluded from the composition of the depreciable property:
v transferred (received) under contracts for free use;
v transferred, by decision of the organization's management, to conservation for more than 3 months;
v which, by decision of the management of the organization, are undergoing reconstruction and modernization for 12 months.
When an object of fixed assets is mothballed, depreciation is charged on it in accordance with the procedure in effect until it was mothballed.
Depreciable property is allocated to depreciation groups according to its useful life.
The useful life is the period during which an item of fixed assets and (or) items of intangible assets are used to fulfill the purposes of the taxpayer's activities. The useful life is determined by the taxpayer independently on the date of commissioning of this depreciable property in accordance with the provisions of this article and on the basis of the classification of fixed assets determined by the government.
The depreciable property is combined into the following depreciation groups:
§ the first - all short-lived property with a useful life of 1 to 2 years inclusive;
§ second - property with a useful life of 2 to 3 years inclusive;
§ third - property with a term of over 3 years up to 5 years inclusive;
§ fourth - property with a term of over 5 years up to 7 years inclusive;
§ fifth - property with a term of over 7 years up to 10 years inclusive;
§ sixth - property with a term of over 10 years up to 15 years inclusive;
§ seventh - property with a term of over 15 years up to and including 20 years;
§ eighth - property with a term of over 20 years up to and including 25 years;
§ ninth - property with a term of over 25 years up to and including 30 years;
§ tenth - property with a term of over 30 years.
The classification of fixed assets included in the depreciation groups was approved by the RF Government Decree of January 1, 2002 No. 1.
For those types of fixed assets that are not indicated in the depreciation groups, the useful life is established by the taxpayer in accordance with the specifications and recommendations of the manufacturing organizations.
For tax accounting purposes, depreciation is charged on a straight-line or non-linear basis.
The amount of depreciation is determined by taxpayers on a monthly basis for each object of depreciable property.
Straight-line depreciation method. It is applied to buildings, structures, accessory devices included in the eighth - tenth depreciation groups, regardless of the timing of the commissioning of these objects. The taxpayer has the right to apply one of the above methods to the rest of the fixed assets.
The depreciation method chosen by the taxpayer is applied to the depreciable property that is part of the corresponding depreciation group, and cannot be changed during the entire depreciation period for this object, except for the cases provided for in paragraph 5 of Art. Tax Code of the Russian Federation.
Accrual of depreciation in relation to an object of depreciable property is carried out in accordance with the depreciation rate determined for this object, based on its useful life.
When using the straight-line method, the amount of accruals for one month of depreciation in relation to an object of depreciable property is determined as the product of its original (replacement) cost and the depreciation rate determined for this object.
With the linear method, the depreciation rate for each object of depreciable property is determined by the formula:
where K is the depreciation rate as a percentage of the original (replacement) cost of the depreciable property;
Non-linear depreciation method. In relation to an object of depreciable property, it is defined as the product of the residual value of the object and the depreciation rate determined for this object:
Where K is the depreciation rate as a percentage of the residual value applied to this depreciable property;
n is the useful life of this depreciable property, expressed in months.
Moreover, from the month following the month in which the residual value of the depreciable property will reach 20% of the original (replacement) value of this object, depreciation is calculated in the following order:
1. The residual value of the depreciable property for the calculation of depreciation is fixed as its base value for further calculations.
2. the amount of amortization accrued for one month in relation to a given object of depreciable property is determined by dividing the base cost of this object by the number of months remaining until the expiration of the useful life of this object.
With regard to depreciable fixed assets used to work in an aggressive environment and (or) increased shifts, the taxpayer has the right to apply a special coefficient to the basic depreciation rate, but not higher than 2. For depreciable fixed assets that are the subject of a financial lease (lease agreement) , the taxpayer has the right to apply a special coefficient to the basic rate of depreciation, but not higher than 3. These provisions do not apply to fixed assets belonging to the first or third depreciation groups, if these fixed assets are depreciated using a non-linear method.
Taxpayers using depreciable fixed assets to work in an aggressive environment and (or) increased shifts have the right to use the special coefficient specified in this paragraph only when calculating depreciation in relation to these fixed assets. For the purposes of this chapter, an aggressive environment is understood as a combination of natural and (or) artificial factors, the influence of which causes increased wear (aging) of fixed assets during their operation. To work in an aggressive environment is also equated with the presence of fixed assets in contact with an explosive, toxic or other aggressive technological environment, which can serve as the cause (source) of the initiation of an emergency.
Organizations that transferred (received) fixed assets, which are the subject of a lease agreement concluded before the entry into force of Chapter 25 of the Tax Code of the Russian Federation, have the right to charge depreciation on this property using the methods and norms that existed at the time of transfer (receipt) of the property, as well as using special coefficient, but not higher than 3.
Accrual of depreciation is allowed according to the depreciation rates set forth in Art. 259 of the Tax Code of the Russian Federation by the decision of the head of the organization, enshrined in the accounting policy for tax purposes. The use of reduced depreciation rates is allowed only from the beginning of the tax period and throughout this period.
Assessment of fixed assets.
In practice, the following types of valuation of the elements of fixed assets (objects) are used.
Initial cost- the sum of the actual costs of the organization for the acquisition, construction, manufacture of elements of fixed assets, excluding VAT and other reimbursable taxes.
Replacement cost- assessment of the elements of fixed assets, put into effect in previous years, in modern prices and conditions of reproduction. Determined by revaluating the elements of fixed assets.
In a stable economy, stable prices for items and means of labor, high rates technical progress, active innovation, the replacement cost of the elements of fixed assets will be less than the initial one.
Historical cost of fixed assets less depreciation(original residual value) is equal to the full initial cost, reduced by the amount of physical depreciation (the amount of depreciation charges for renovation).
Replacement cost of fixed assets less depreciation(replacement depreciated value) is equal to the full replacement cost reduced by the amount of physical depreciation (adjusted amount of depreciation charges for renovation).
Book value fixed assets represents the value of all elements of fixed assets of an enterprise in a mixed assessment: those elements of fixed assets that have not yet been revalued are recorded on the balance sheet at their original cost less depreciation, the same elements of fixed assets that were revalued at replacement cost less depreciation.
In a market economy, enterprises also determine the market, insurance, collateral, investment, expert, liquidation value of the elements of fixed assets.
Market price elements of fixed assets - the most probable price at which a given element can be alienated in the open market in a competitive environment, when the parties to the transaction act reasonably, having all the necessary information, and no circumstances are reflected in the value of the transaction price:
Ø one of the parties to the transaction is not obliged to alienate the subject of valuation, and the other party is not obliged to accept performance;
Ø the parties to the transaction are well aware of the subject of the transaction and act in their own interests;
Ø the subject of assessment is presented to the open market in the form of a public offer;
Ø the price of the transaction is a reasonable remuneration for the object of assessment and there was no coercion to complete the transaction with respect to the parties to the transaction from any party;
Ø payment for objects is expressed in monetary form.
Insurable value is determined by agreement between the policyholder and the insurer based on the market value of this element of fixed assets. Insurable replacement value is the total cost of the elements of fixed assets as reflected in the insurance policy. Insurable value including depreciation (residual insurable value) is the insurable replacement value minus the accrued depreciation.
Collateral value used as collateral for loans, credits. It consists of the following parts:
¨ the amount of the loan granted;
¨ Compensation for losses or penalties (fines, penalties) due to delay in the fulfillment of the main obligation;
¨ interest on a loan;
¨ reimbursement of court and other expenses caused by foreclosure on the subject of pledge;
¨ reimbursement of expenses related to the sale of the pledged item.
Investment value - assessment of the facility, taking into account the expected improvement as a result of the proposed modernization (i.e., taking into account investments in the facility).
Expert review elements of fixed assets is an assessment of the value of those elements of fixed assets, which, as a rule, have no analogues.
Liquidation value elements of fixed assets - the price at which they can be sold during the liquidation of the enterprise.
Depreciation policy- a set of principles, plans, actions of the government, carried out in terms of education, distribution and use of depreciation deductions. Depreciation policy includes centralized regulation of standard service life (depreciation rates); permission (prohibition) of the use of accelerated depreciation of equipment and determination of the boundaries (limits) of the use of accelerated depreciation; establishment of rules for the use of depreciation deductions; stimulation of the intended use of depreciation and sanctions for the misuse of accelerated depreciation.
III. Maintenance of intangible assets of the enterprise. Amortization of intangible assets
The composition of intangible assets (intangible assets) of enterprises is determined by two normative acts: the Regulation on accounting "Accounting for intangible assets" (PBU 14/2000) and chapter 25 of the Tax Code.
When accepting assets for accounting as intangible assets, one-time fulfillment of the following conditions is required:
a) lack of material and material (physical) structure;
b) the possibility of identification (separation, separation) by the organization of property;
c) use in the manufacture of products, in the performance of work or the provision of services, or for the management needs of the organization;
d) use for a long time, i.e. useful life, lasting over 12 months. or a normal operating cycle if it exceeds 12 months;
e) the organization does not expect the subsequent resale of this property;
f) the ability to bring the organization economic benefits (income) in the future;
g) the presence of duly executed documents confirming the existence of the asset itself and the exclusive right of the organization to the results of intellectual activity (patents, certificates, other documents of protection, an agreement on the assignment (acquisition) of a patent, trademark, etc.).
In accordance with these conditions, the exclusive right belongs to intangible assets:
· The owner of the trademark and service mark, appellation of origin of goods;
· Patent holder for selection achievements.
Intangible assets also include business reputation organizations and organizational expenses (expenses associated with the formation of a legal entity, recognized in accordance with the constituent documents as part of the contribution of participants (founders) to the authorized (pooled) capital of the organization).
The intangible assets do not include the intellectual and business qualities of the organization's personnel, their qualifications and ability to work, since they are inseparable from their carriers and cannot be used without them. Intangible assets are accepted for accounting at their initial cost.
Initial cost of intangible assets purchased for a fee is determined as the amount of actual expenses for their purchase, excluding VAT and other refundable taxes (except as provided by the legislation of the Russian Federation).
The actual expenses for the purchase of intangible assets may be:
× amounts paid in accordance with the agreement of assignment (acquisition) of rights to the copyright holder (seller);
× amounts paid to organizations for information and consulting services related to the acquisition of intangible assets;
× registration fees, customs duties, patent fees and other similar payments made in connection with the assignment (acquisition) of the exclusive rights of the copyright holder;
× non-refundable taxes paid in connection with the acquisition of an intangible asset;
× remuneration paid to the intermediary organization through which the intangible asset was purchased;
× other expenses directly related to the acquisition of intangible assets.
When paying for the acquired intangible assets, if the terms of the agreement provide for a deferral or payment by installments, the actual expenses are accepted for accounting in the full amount of accounts payable.
When purchasing intangible assets, additional costs may arise for bringing them to a condition in which they are suitable for use for the planned purposes. These can be the amount of wages employed workers, corresponding deductions for social insurance and security, material and other expenses. Additional costs increase the initial cost of intangible assets.
The initial cost of intangible assets created by the organization itself is determined as the sum of the actual costs of creation and production (expended material resources, labor remuneration, services of third-party organizations under counterparty (co-executive) contracts, patent fees associated with obtaining patents, certificates, etc.) , with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation).
Intangible assets considered established if:
1) the exclusive right to the results of intellectual activity obtained in the course of fulfilling official duties or on specific tasks of the employer belongs to the employing organization;
2) the exclusive right to the results of intellectual activity obtained by the author (s) under an agreement with a customer who is not an employer belongs to the customer organization;
3) a certificate for a trademark or for the right to use an appellation of origin was issued in the name of an organization.
General business and other similar expenses are not included in the actual expenses for the acquisition, creation of intangible assets, unless they are directly related to the acquisition of assets.
In accordance with the Tax Code of intangible assets, acquired and (or) created by the taxpayer results of intellectual activity and other objects of intellectual property (exclusive rights to them), used in the production of products (performance of work, provision of services) or for the management needs of the organization for a long time ( duration over 12 months).
To recognize an intangible asset, it is necessary to bring economic benefits (income) to the taxpayer, as well as the availability of duly executed documents confirming the existence of the asset itself and (or) the taxpayer's exclusive right to the results of intellectual activity (patents, certificates, other documents of title, an assignment (acquisition) agreement) patent, trademark).
Intangible assets, in particular, include the exclusive right:
· Patent holder for an invention, industrial design, utility model;
· For a trademark and service mark, an appellation of origin of goods and a firm name;
· Patent holder for selection achievements;
· Possession of know-how, secret formula or process, information regarding industrial, commercial or scientific experience.
The initial cost of amortized intangible assets is determined as the sum of the expenses for their acquisition, creation and bringing them to a condition in which they are suitable for use, excluding the amounts of taxes accounted for as expenses in accordance with the Tax Code.
Intangible asset value created by the organization itself is defined as the sum of the actual costs of their creation, production (including material costs, labor costs, third-party services, patent fees associated with obtaining patents, certificates), excluding the amounts of taxes accounted for in composition of expenses in accordance with the Tax Code.
Intangible assets do not include:
à research, development and technological work that did not give a positive result;
à intellectual and business qualities of the organization's personnel, their qualifications and ability to work.
Comparison of the composition of intangible assets given in PBU 14/2000 and in the Tax Code shows that basically the same types are attributed to intangible assets, but there are differences.
In PBU 14/2000, intangible assets include the business reputation of an organization and organizational costs (costs associated with the formation of a legal entity, recognized in accordance with the constituent documents as part of the contribution of participants (founders) to the authorized (pooled) capital of the organization). These types of intangible assets are not included in the intangible assets listed in Art. 257 of the Tax Code of the Russian Federation.
At the same time, in the Tax Code, intangible assets include the exclusive right to a firm name, as well as the possession of know-how, a secret formula or process, information regarding industrial, commercial or scientific experience. These types of intangible assets are not included in the intangible assets given in the PBU.
It is advisable to establish a single composition of intangible assets.
In industry, at the end of 2000, intangible assets at book value amounted to 23.6 billion rubles. or 1.2% to the residual value of fixed assets.
In the total amount of intangible assets in industry, arising from copyright and other contracts for works of science, for computer programs, etc., accounted for 33%; rights arising from patents for inventions, industrial designs, certificates for utility models, trademarks, etc. - 28.8%.
As with fixed assets, there are differences in the definition of depreciation charges on intangible assets for accounting purposes and for tax purposes of corporate profits.
For accounting purposes, amortization of intangible assets is carried out in one of the following ways of calculating amortization deductions:
Linear;
Decreased balance;
Write-off of the cost in proportion to the volume of products (works).
The application of one of the methods for a group of homogeneous intangible assets is carried out throughout their entire useful life.
During the useful life of intangible assets, the accrual of depreciation charges is not suspended, except for the conservation of the organization.
The annual amount of accrual of depreciation deductions is determined when:
ü linear way- based on the initial cost of intangible assets and the depreciation rate calculated based on the useful life of this object;
ü diminishing balance method- from the residual value of intangible assets at the beginning of the reporting year and the depreciation rate calculated based on the useful life of this object.
During the reporting year, amortization deductions for intangible assets are calculated on a monthly basis, regardless of the method of accrual used, in the amount of 1/12 of the annual amount.
V seasonal production the annual amount of depreciation deductions for intangible assets is accrued evenly during the period of the organization's work in the reporting year.
ü method of writing off the cost in proportion to the volume of products (works)- accrual is based on the natural indicator of the volume of production (work) in the reporting period and the ratio of the initial cost of intangible assets and the estimated volume of production (work) for the entire useful life of the intangible asset.
The useful life of intangible assets is determined by the organization when the object is accepted for accounting.
Definition useful life Intangible assets are made on the basis of:
à the term of validity of a patent, certificate and other restrictions on the terms of use of objects of intellectual property in accordance with the legislation of the Russian Federation;
à the expected life of the item, during which the entity can obtain economic benefits.
For certain groups of intangible assets, the useful life is determined based on the quantity of products or other natural indicator of the amount of work expected to be received as a result of using this object.
For intangible assets for which it is impossible to determine the useful life, the rates of depreciation are set per 20 years (but not more than the period of the organization's activity).
Depreciation deductions for intangible assets begin from the first day of the month following the month of accepting this object for accounting, and are charged until the cost is fully repaid or this object is retired from accounting due to the assignment (loss) of the organization of exclusive rights to the results of intellectual activity.
Depreciation deductions for intangible assets cease from the first day of the month following the month of full repayment of the value of this object or writing off this object from the accounting records.
Depreciation deductions for intangible assets are reflected in the accounting records of the reporting period to which they relate, and are accrued regardless of the results of activities in the reporting period.
Depreciation deductions for intangible assets are reflected in accounting in one of the ways: by accumulating the corresponding amounts in a separate account or by reducing the initial cost of the object.
Depreciation deductions for organizational expenses of the organization are reflected in the accounting by an even decrease in the initial cost over 20 years (but not more than the period of the organization's activity).
The use of one of the methods for reflecting depreciation in the accounting for a group of homogeneous intangible assets is carried out throughout their useful life.
The methods and procedure for calculating depreciation on intangible assets for accounting purposes are basically the same as those used for calculating depreciation on fixed assets for accounting purposes.
Some differences are as follows:
× among the methods (methods) for calculating depreciation on intangible assets there is no way to write off by the sum of the number of years of useful life;
× for intangible assets for which it is impossible to determine the useful life, the rates of depreciation are set per 20 years;
× depreciation charges for intangible assets can be reflected in accounting not only by accumulating the corresponding amounts, but also by reducing the initial cost of the object.
Depreciation charges on intangible assets for profit tax purposes are calculated in the same way as for fixed assets - the useful life of intangible assets is determined.
The determination of the useful life of an intangible asset is based on the validity period of the patent, certificate and other restrictions on the useful life of the intellectual property object in accordance with the legislation Russian Federation or the applicable laws of a foreign country, as well as based on the useful life of intangible assets stipulated by the relevant contracts. For intangible assets for which it is impossible to determine the useful life, the rates of depreciation are established per 10 years (but not more than the period of the taxpayer's activity).
Recall that when calculating depreciation charges for accounting purposes for intangible assets for which it is impossible to determine the useful life, the depreciation rates are set per 20 years.
Depreciation is charged for each item of intangible assets using one of the following methods:
Linear;
Non-linear.
IV. Forms of granting state and municipal property to the possession and use of other organizations
State and municipal property can be transferred into the possession and use of other organizations on the basis of lease, trust management, operational management, economic management, free use.
From a legal point of view, economic management and operational management are special property rights to real estate, rent and trust management are restrictions (encumbrances) of property rights.
The choice of this or that form of real estate use is determined by a number of factors, of which the main one is the achievement of management goals. Transfer to economic management, operational management, free use allows you to realize the goals associated with the integrated development of the territory of the municipality through the creation of municipal unitary enterprises and institutions.
Lease relations in Russia, the formation of which began with the adoption of the Fundamentals of the Legislation of the USSR and the Union Republics on Leasing, were intensively developed with the beginning of market reforms in the Russian economy, which significantly changed the situation. state enterprises and opened for citizens the possibility of transition to economic independence in entrepreneurial activity.
In accordance with the Union legislation on lease, which has not been canceled to date, and subsequent legislative and regulatory acts, lease is a contract-based, urgent, paid possession and use of land, other natural resources, enterprises and other property complexes, as well as property, necessary for the tenant for the independent implementation of economic or other activities.
In world and domestic practice, lease is allowed in the implementation of any entrepreneurial activity not prohibited by law, and can be applied to property of all forms and types of ownership, i.e. as objects of lease can be taken, including from the state:
a) land plots and other isolated natural objects;
The owner of a land plot can transfer it to other persons for rent or free-of-charge fixed-term use. The law may establish the specifics of leasing land plots and other isolated natural objects.
b) enterprises and other property complexes;
c) individual buildings, structures, equipment, vehicles, inventory, tool;
d) other types of property, raw materials, products, other things that do not lose their natural properties in the process of their use (non-consumable things);
e) the rights of claim, debts, as well as the rights to designations that individualize the enterprise, its products, works and services (company name, trademarks, service marks), and other exclusive rights.
The law may establish restrictions or specific objects, the lease of which is not allowed or limited.
The right to lease belongs to the owner of the leased object or to a person authorized by law or the owner to enter into a lease agreement.
At the initial stage of the formation of lease relations in Russia, when the owner was mainly the state, state-owned enterprises and organizations were given the right to lease property complexes, individual buildings, structures, equipment and other material values that were in their full economic management or operational management ... This made it possible to carry out a serious restructuring of state-owned enterprises that leased out to legal entities and citizens, joint ventures, international associations and organizations everything that was subject to lease, and due to this, receive significant funds for their core activities.
The exception was land plots that were leased by the relevant government authorities. At present, after the adoption in 2001 of the Land Code of the Russian Federation (hereinafter referred to as the RF LC), significant changes have taken place in the field of land relations. The tenants of land plots are persons who own and use land plots under a lease agreement or a sublease agreement.
The powers of the Russian Federation, constituent entities of the Russian Federation and bodies local government.
At the same time, it is the Russian Federation that sets restrictions on the rights land tenants... Besides, land tenants are obliged to carry out protective land measures.
Under a finance lease agreement (lease agreement), the lessor can acquire ownership specified by the tenant property from the seller specified by him and provide the tenant with this property for a fee for temporary possession and use for business purposes. In this case, the landlord is not responsible for the choice of the subject of the lease and the seller. The subject of a financial lease agreement can be any non-consumable things used for entrepreneurial activity, except for land plots and other natural objects.
The executive authorities of the constituent entities of the federation must and can provide the necessary support for the development of leasing activities aimed at technical re-equipment and modernization of production, including by participating in the financing of relevant projects at the expense of their budgets.
It is planned to bring the volume of leasing in Russia to the level of the developed countries of the West: 25-30%.
In essence, the issue of leasing state property mainly arises at the initial stage of entrepreneurial activity and fades into the background at the stage of its formation, since this creates economic relations, including lease ones, associated with other circumstances: innovative activity, intellectual property, know-how. -how, leasing, etc., but these are no longer questions of lease as a form of contractual relations, but of personnel and scientific and technical policy, including the state one.
In the municipal real estate management system, lease and sublease occupy special place... The general reason for the transfer of real estate for lease is the excess of the rent (without depreciation and property tax) of the return on capital when the object is used directly by the owner.
The feasibility of transferring real estate for rent is determined following factors:
¨ the property is not used by the owner in the current economic activity, i.e. does not generate income;
¨ the property is used by the owner, but brings losses for structural and technological reasons;
¨ real estate cannot be involved in economic turnover for economic reasons (for example, there is not enough working capital to organize production).
The advantages of lease as a form of management are, firstly, in the stability of obtaining additional income, and secondly, in the ability to use real estate in the future for the development of its own economic activity when external conditions change. At the same time, cash receipts from the use of objects are distributed in the long run.
The property can be leased directly by the owner. In accordance with the terms of the lease, it may be prohibited to alienate or change the leased real estate without the consent of the owner.
In order to ensure the protection of real estate from the risks of destruction or its restoration in case of damage during the lease term, simultaneously with the lease contract, an insurance contract for the municipal property transferred to the lease is concluded.
Municipal real estate objects can be leased, as a rule, to any individual or legal entity on the basis of an auction. The transfer can be carried out:
1) by competition when the use of real estate presupposes the presence of certain conditions related to the functional purpose of the non-residential premises put up for the competition;
2) on the auction when the lessee is not required to fulfill any additional conditions, except for the payment of the rent and the use of the property in accordance with its purpose;
3) upon use- upon change or termination of real rights that led to the need to draw up a lease agreement: a) during the privatization of municipal property, b) upon expiration of the validity of title documents, c) by way of succession. The contract is concluded on the basis of the existing conditions of use;
4) how out-of-competition transfer- in exceptional cases, the list of which, as a rule, is contained in local regulations governing the process of transferring rights to real estate.
The factor that initiates the transfer of property for rent is an application from an individual or legal entity, which is submitted to the KUMI (Committee for the Management of Municipal Property).
On the terms of economic management, non-residential premises are transferred to municipal unitary enterprises on the basis of a decree of the head of the local administration. Unitary enterprises are commercial organizations, independent economic entities, whose activities are related to the production of goods, the performance of work, the provision of services in order to meet the needs of the city and make a profit. The issues of creating municipal unitary enterprises, determining the subject and goals of their activities, reorganizing and liquidating, appointing directors (heads) of enterprises, exercising control over the use and safety of real estate are decided by the owner of the property - a local government body (representative or executive). The decision to transfer real estate to economic jurisdiction, as a rule, is taken simultaneously with the decision to create a municipal unitary enterprise. The ownership of real estate is not transferred to unitary enterprises. If the ownership right to a municipal enterprise as a property complex is transferred to another owner, then the enterprise retains the right of economic management to the property assigned to it. The right of economic management cannot be transferred by the enterprise to other legal entities or individuals. The rights of economic management cannot be equal to the rights of the owner, coincide with them completely, but are always limited in content, primarily by the will of the owner himself or by direct prescriptions of the law. This means that the exercise of these rights occurs not at the discretion of their owner (in any case, not only at his discretion), but within the limits established by the owner.
Operational management is associated with the transfer of non-residential premises to operational management of municipal institutions on the basis of a decree of the head of the local administration. The decision to create institutions - non-profit organizations, for which making a profit is not the main goal of their activities, is taken by the local administration, on the basis of which the KUMI and the institution conclude an agreement on the procedure for the use of municipal real estate and on the conditions for its seizure. As a rule, on the basis of operational management rights, the owner transfers the real estate to the institution that it finances, most often the budgetary one. The right of operational management further restricts the subject that possesses it. This right implies the need to use the property for the purpose for which it was transferred. The right of operational management represents a special real right of a legal entity to own, use and dispose of state and other property within the limits established by law, the goals of its activities, the tasks of the owner (most often this means the need for strict adherence to the cost estimate) and the purpose of real estate.
A municipal institution does not have the right to alienate or otherwise dispose of the property assigned to it, acquired at the expense of funds allocated according to an estimate or designated purpose. If, in accordance with the constituent documents, the institution is granted the right to carry out income-generating activities, then the income received and the property acquired at their expense are at the disposal of the institution and are recorded on a separate balance sheet.
The right of operational management arises, as a rule, for a municipal institution from the moment of transfer of property. The actual transfer of non-residential premises for operational management is carried out after the conclusion of an agreement (contract), which stipulates the conditions for the transfer of real estate, including a ban on all actions that may entail the alienation of municipal property.
The property assigned to a municipal institution on the basis of the right of operational management remains in municipal ownership. The right of operational management cannot be transferred by the institution to other legal entities or individuals.
Immovable property can be withdrawn from the right of operational management by the decision of the bodies authorized to transfer or endow such a right.
The Civil Code of the Russian Federation defines a gratuitous use agreement as a loan agreement. The lender of the property in municipal ownership is KUMI. Non-residential premises can be transferred for free use:
× to municipal unitary enterprises, municipal institutions and organizations in case of inexpediency of transferring this immovable property to them for economic management or operational management;
× legal entities - non-profit organizations and individuals, to whom the municipality, in accordance with the law, is obliged to provide assistance in organizing their activities;
× municipal budgetary organizations that carry out social meaningful activity in the interests of residents of the municipality;
× organs state power and local government.
On the proposal of the head of the local administration, the representative body approves the list of real estate, as well as organizations or individuals, to whom the property is transferred for free use, or it is allowed to re-register the lease right into the right to free use, the terms of the contract and the assessment of budget losses. This list does not include objects transferred for free use at the request of federal legislation.
An application for the transfer of municipal real estate for gratuitous use is submitted by the borrower to the KUMI in writing. The following documents are attached to it:
Justification of the feasibility of transferring municipal real estate for free use;
Copies of constituent documents of a legal entity;
Certificate from the tax inspectorate about the taxpayer identification number in the state register.
The actual transfer of municipal real estate for gratuitous use is carried out after the registration of the certificate and the conclusion of the contract in the committee on the deed of transfer, which is an integral part of the contract. The contract for the gratuitous use of municipal property is tripartite, since the non-residential premises are recorded on the balance sheet of the legal entity that owns the non-residential fund. The contract is concluded in writing for a period determined by the committee.
Ownership does not pass to the user of the municipal property. According to the agreement, KUMI has the right to dispose of the property, i.e. lease it or sell it into property, while the contract for the right to free use of non-residential fund, which is in municipal ownership, will be reissued with the new owner. Control over compliance with the terms of the contract is carried out by both the committee and the balance holder. Technical documentation for non-residential premises is not transferred to the user.
Upon expiration of the contract of gratuitous use, the owner accepts the further use of the real estate.
One of the ways to use state property is to transfer it under an agreement for a certain period of time in trust.
The objects of trust management can be property complexes of enterprises, individual objects related to real estate, securities, rights certified by non-documentary securities, exclusive rights and other property.
As a rule, the founder of a trust is the owner of the property. An individual entrepreneur or a commercial organization, with the exception of a unitary enterprise, can act as a trustee.
The transfer of state property to trust does not entail a simultaneous transfer of ownership of it to the trust manager.
It is legally established that the term of trust management of state property should not exceed five years.
For the period of implementation of trust management, a property trust management agreement is concluded in writing. Such an agreement must specify the following essential conditions:
ü the composition of the property transferred to trust management;
ü name of the legal entity (body or representative of the state), in the interests of which the property is managed;
ü the amount and form of remuneration to the manager, if the payment of remuneration is stipulated by the contract.
The transfer of property to trust management is subject to state registration in the same manner as the transfer of ownership of this property.
The form of control of a trustee is a report submitted by him on his activities in the terms and in the manner established by the contract for the fiduciary management of property. The trustee is liable for the losses incurred unless he proves that these losses were due to force majeure, or actions of the founder of the management.
The most promising direction of state property management in joint-stock companies, where the state has 100% ownership or a controlling stake, is the transfer of state shares to the trust management of the direct management of joint-stock enterprises, which, based on the results of a competition, is appointed on the basis of a contract - a “contract system”.
V last years the institution of trust management appeared in the practice of municipal real estate management, i.e. delegation of rights to manage real estate on the basis of an agreement. At the same time, the rights to dispose, use and own real estate are transferred, but the owner sets partial restrictions on the exercise of these rights. Initially, trust management concerned only shares of privatized enterprises. After the entry into force of the Civil Code of the Russian Federation, trust management applies to all property, including real estate.
Experts and practitioners believe that rent has a number of disadvantages compared to trust management. First, it is difficult to manage and control the development of the property, and the interests of the lessee and the lessor in this area may not coincide, and the means of management and control are purely administrative and impose rather stringent requirements on the development of a lease agreement in terms of restrictions and encumbrances. Secondly, the rent is fixed and does not depend on the results of using the leased property. Trust management of real estate largely solves these problems. The interests of the owner and the manager coincide. Profit from the use of the property, with the exception of the manager's remuneration, goes to the owner. The owner has the ability to exercise effective control over the activities of the manager.
The decision to transfer municipal real estate to trust is taken, as a rule, by the representative body of local government. The local administration should determine the criteria for the expediency of transferring real estate into trust, draw up a list of objects that meet these criteria, develop a mechanism for preparing for the transfer of objects, as well as a procedure for competitive selection of trustees and a system for monitoring their activities. The preparation of documents on the transfer of real estate to trust management is carried out by KUMI.
According to the Civil Code of the Russian Federation, only the owner can be the founder of trust management. Trust management of property is carried out in his interests or in the interests of the person specified by him in the contract (beneficiary). The ownership right does not pass to the trustee, he cannot manage the property transferred to him in his own interests, however, he can act in the interests of a third party indicated by the founder of the management. Property that is under the economic jurisdiction of a municipal enterprise or the operational management of a municipal institution (organization) cannot be transferred to trust management.
Trust management of municipal property is carried out on the basis of a standard agreement.
Municipal property transferred into trust is segregated from other immovable property of the founder of the management, as well as from the real estate of the trustee. This property is recorded by the trustee on a separate balance sheet and is independently recorded. For settlements on activities related to trust management, a separate bank account is opened. The trustee acts on his own behalf, but indicates that he is a trustee (otherwise, liability for obligations will be transferred to his property).
V. The system of indicators characterizing the activities of economic entities
Business analysis consists of two closely interrelated sections: 1) Financial analysis; 2) Management analysis.
Justification Analysis and Absolute Analysis
implementation of business plans of profit indicators
Marketing system analysis Relative analysis
Profitability indicators
Comprehensive economic analysis of liquidity,
PRIORITIES of Russia
UDC: 338.121: 656.2
PROVIDING STATE INTERESTS WHEN FORMING A MECHANISM FOR MANAGING THE PROPERTY COMPLEXES OF LARGE CORPORATIONS *
V.O. FEDOROVICH, Doctor of Economics, Director of the Institute of Magistracy E-mail: [email protected] Novosibirsk State University of Economics and Management
The formation of a rational organizational and economic mechanism for managing the property complex (property), which ensures the balance of interests of the state and other participants in corporate relations, is a task of paramount importance, far beyond the scope of only the economic interests of the main groups of shareholders (owners). Underestimating the importance of corporate governance in industrial corporations with state participation undermines investment process, reduces the efficiency of capital use, restrains economic growth, prevents the mobilization of savings, makes it impossible to objectively analyze profitability different types assets (property complex) of corporations and their capitalization. And, on the contrary, a correctly chosen corporate governance system guarantees the protection of the economic interests of the state,
* The article was prepared based on the materials of the journal "National Interests: Priorities and Security". 2013. No. 26 (215).
financial transparency of the business of the corporation and its accountability to owners and creditors.
Modern fast-growing corporate formations differ significantly from traditional joint-stock companies primarily in the composition and structure of assets. The entire property complex of modern corporate entities is largely dependent on the volume and quality of intangible assets focused on the human factor. These are commercial brands own developments(know-how), strategic agreements, patents. With employees and business partners, such corporations have very flexible mutually beneficial contracts with a significant degree of economic freedom.
Highly integrated industrial corporations are attractive to a wide range of investors if they develop dynamically, are focused on innovation and pay high dividends. Integration of various areas of business with the creation of an adequate mechanism for
good governance improves competitive positions any modern corporation. The ways to improve the legal framework in the field of corporate governance are determined by the economic interests of the business community. These interests lie in the field of establishing reliable partnerships between the main suppliers of resources and are shared by the participants (owners) and creditors. The main problems of interested participants in corporate relations are resolved in the course of negotiations.
The variety of interests of shareholders or their main groups in terms of incentives, attitudes towards risk, preference for investment strategies and sources of financing determines the variability of methods and ways of forming the management of the property complex of large corporate entities. Thus, the organizational and economic management mechanism in high-risk corporations that use venture capital and rely on the human factor in their economic activities can be very different from those in corporations that have been on the market for a long time.
In addition to the specifics of the capital (property) structure of a corporation, the organizational and economic mechanism for managing the property complex is largely determined by legislation, the system of state regulation and established business practice. These conditions set the institutional boundaries of corporate management of property (capital) of large integrated industrial corporations.
The institutional framework for property management is:
Rules and regulations for the formation of status law (title of ownership) and its subsequent protection;
Voluntarily adopted standards, national codes governing the system of internal corporate management of property complexes;
The culture business relationship based on social norms, religious beliefs and national specifics of specific states (territories).
In the process of forming organizational, economic and financial mechanisms that ensure effective management of the property complex, it is important to solve institutional problems arising in the process of division at the legislative level of the right to own property.
ness and rights of corporate control. If the outsider model of corporate control is characterized by the diffusion of the ownership structure, then the insider model presupposes the concentration of ownership (and therefore strategic management) from one or more owners. The state can be a member of both systems of corporate control.
The balance of economic interests of the participants in the outsider model is achieved on the basis of the interaction of disunited participants (owner-shareholders) and the top managers of the corporation who have real economic opportunities. The problems of the insider model lie in the imbalance of the economic interests of the controlling participant (or their group) and minority participants (owners).
Let us dwell on the main factors influencing the formation of basic models of the property management mechanism to balance the economic interests of the state and other participants in corporate relations. These are the level of ownership concentration, motivation, material and moral incentives for production management, institutional support for the process of mergers (acquisitions) and divisions, models for the formation of equity (authorized) capital, cross-ownership of shares, etc. Ultimately, the influence of these factors also affects efficiency. economic activity of the corporation, its innovative activity, interaction with medium and small business (entrepreneurship) and its economic growth.
The organizational and economic mechanism for managing the property complex is aimed at solving problems that arise between the participants (owners) and the state (moreover, the state can also be one of the owners), as well as between the participants and production management. When separating the functions of ownership and control, the main motivation for finding optimal management and control mechanisms that minimize transaction costs is traditionally considered to be competition. But even market competition with the dominance of the state form of ownership does not solve the problem of conflict of economic interests in the system "participants (owners) - production management", as well as in the system "state (owner) - state regulation bodies of economic activity" (state - fiscal tax authority) ...
In the economic literature, the problems of corporate governance are considered from two positions. The first is the concept of shareholders (owners) and a narrow circle of participants. For shareholders, the most acceptable is complete accountability of production management (top managers) to the owners, that is, to the members of the corporation. For this, an organizational and economic mechanism is being formed that makes it possible to maximize the rights of participants (owners) in managing the following instruments:
Through compensation payments and options, the economic motivation of managers is linked to the economic motivation of the owners;
To strengthen the institutional protection of owners and their rights, a ban (restriction) on insider trading is introduced, and the market for mergers and divisions is regulated.
From the point of view of shareholders, the decisive evaluation criterion is the maximum amount of income of the owners, determined by the maximum consolidated profit of the corporation. In this case, the market price of the corporation's property complex is considered to be the simplest criterion, calculated as the product of the price of shares (exchange quotation) and their number. This indicator makes it possible to comprehensively assess the effectiveness of the management of the economic activities of the corporation as a whole.
Another concept takes into account the economic interests of a wider circle of persons - participants (owners), top managers, creditors, personnel and government authorities (state institutions). It is no secret that the economic goals of these categories of persons (subjects) can differ markedly. Thus, the goals of owners and managers when separating control and ownership functions most often do not coincide. Unlike participants who want to increase the value (capital) of a corporation, for production management (middle and top management) the main thing is the current material remuneration, for personnel - an increase in wages, which is achieved by increasing sales volumes (capturing a larger market share), as well as selling risky investment projects.
The problem of balancing the interests of participants (owners) and production management can be considered on the basis of the concept of “imperfect contracts” (residual control rights), which proves the impossibility of an ideal contract, where all conditions and circumstances are
sometimes it is necessary to make management decisions in unforeseen circumstances and situations not specified in contracts. In some cases, the participant reserves such "rights of residual control", which sharply exacerbates the problem of information asymmetry. Thus, differences in level vocational training and awareness of owners and managers often leads to serious losses.
The organizational and economic mechanism for managing the property complex within the framework of the first model also includes relationships with the institutional environment and provides opportunities for taking into account the economic interests of creditors, personnel and government agencies (authorities). By integrating the economic interests of these groups, this model makes it possible to adequately assess the activities of the corporation's top managers and provides them with real targets. In this case, the economic value added (EVA) can serve as a complex integral indicator (Table 1).
The conceptual foundations of the formation of an organizational and economic mechanism for managing the property of large industrial corporations proposed by various researchers are based on modern concept management of the value of a corporation, which has as the main goal of ensuring the growth of the market value of the corporation through the growth of the market value of shares. The system of indicators, which are used as estimates, is constantly being improved. Modern information technologies make it possible to receive them in the online monitoring mode. Based on the generalization of the results of basic theoretical and applied developments of foreign and domestic authors, a step-by-step scheme is proposed for the formation of an organizational and economic mechanism for managing the property of industrial and transport corporations, taking into account the structural relationship of its elements (Fig. 1).
When conducting a valuation of a corporation, the economic category of business value is used. In the very general view it is the book or par value, that is, either the total balance sheet or the value of the assets of the organization. However, the real value of the organization differs from the nominal value due, for example, to a certain discrepancy between the book value of non-current (including intangible) assets and their market value (for example, due to significant periods
Table 1
Corporate performance indicators for various stakeholder groups
Participants (owners) Lenders Production management (top managers)
Return on equity capital Ratio of absolute liquidity Profitability of products. Return on sales
The amount of earnings per share Economic characteristics of cash flows Marginal income
The ratio of the amount of dividends and the value of assets Liquidation value of the corporation Indicators of asset turnover
Capitalization to book value of the corporation Leverage (financial leverage) Level operating lever(operating leverage)
Dynamics of the corporation's capitalization level Share (structure) of debt obligations relative to capitalization Structure of receivables and payables, their ratio
Return on assets and the total amount of consolidated profit Financial stability of the corporation Salary productivity and salary intensity of products, efficiency of personnel use
Tax burden on property Degree of coverage of interest payments Efficiency of investment projects (payback periods)
The rate of increase in share capital Solvency Efficiency of production, economic and financial activities
useful use). Usually, two approaches are used to derive the market value of corporations.
The first approach assumes that the market value corresponds to the equilibrium price set by the interested parties in the implementation of a transaction associated with a change in the ownership of a corporation (sale and purchase of an organization).
The market value of a corporation is a relative value that is influenced by many factors. Its property components should be assessed comprehensively as a self-developing mechanism, the actions of which are conditioned by the state of assets and depend on the efficiency of the corporation's managers. Quite often it is used in this case quantitative assessment economic value of a corporation - goodwill, determined by the difference between the real price and the book value of the corporation's assets.
The second approach is based on the fundamentals described above, that is, the market price of a corporation is adjusted for the amount of future growth in its assets due to an economic assessment of the probabilistic value of cash inflows. In practice, this is usually the sum of the discounted cash flows during the useful life of the assets of a corporation.
Economic value added (EVA) is the book value added by the present value of future EVAs. In other words, this is the value of the rate of return minus the weighted average
capital cost multiplied by the amount of invested capital.
As part of managing the value of the property complex of corporations, the EVA indicator is used in the preparation of the capital budget, in assessing the efficiency of economic activities of both separate separate structural divisions, subsidiaries and dependent companies (legal entities), and the corporate entity (group) as a whole.
The basic economic idea of using EVA is that the share capital of any corporate entity must generate at least the same return as investments with a similar level of risk in the market for government or corporate stocks (bonds).
To characterize state interests in the formation of tax and non-tax payments to the budgets of all levels, let us dwell in more detail on scenario options for the economic behavior of large corporate entities with dominance or 100% participation in the structure of the share capital of the state form of ownership. The economic interests of the state are related to the determination of the amounts and time periods for receiving income. We are talking about tax and non-tax revenues of the state budget, the payers of which (subjects of taxation), according to the current legislation, are all legal entities registered in the Unified State Register of Enterprises and Organizations (EGRPO). The economic and legal aspect of this problem in one way or another comes into contact with
Ensuring balance
economic interests of subjects of corporate relations
Economic interests of subjects of corporate relations
Owners
Lenders
Managers
Economic value added (BUL) Equity value added (MDR)
Creation of a corporate governance model
Ownership structure as a quantitative assessment of the economic opportunities (powers) of participants in property management (private, state, municipal)
State property 100%
Concentrated ownership structure with the allocation of the dominant owner (presence of a group of minority shareholders)
Distributive (dispersed) ownership structure with a significant number of "equal" small shareholders (one share - one vote)
Insider model Outsider model
corporate governance corporate governance
Shareholder concept Shareholder concept
Consolidated budget of the Russian Federation, consolidated budgets of constituent entities of the Russian Federation
Corporate income tax
Tax revenues
Legal entity property tax
Income from the use of property in state or municipal ownership, or from the activities of state and municipal organizations
Non-tax income
Rice. 1. Stages of the formation of the organizational and economic mechanism of property management
large corporations with state participation
problems of corporate governance of large business structures.
In this regard, it is necessary to answer the following questions. How to determine the economic interests of the state with the equality of all forms of ownership? How to influence the integration and disintegration processes in the national economy so that the economic benefits from the economy
was the maximum activity of the subjects and the use of property? What indicators should be used in this case?
In accordance with the current legislation, budget revenues are considered to be monetary funds received in an irrevocable manner and free of charge at the disposal of state authorities of the Russian Federation, a constituent entity of the Russian Federation and local authorities.
self-government. In general, budget revenues are generated from tax and non-tax payments and gratuitous transfers. The income of targeted budget funds is taken into account separately.
Tax revenues include federal, regional and local taxes and fees provided for by the tax legislation of the Russian Federation, as well as penalties and fines, non-tax revenues are revenues from the use of state or municipal property (after taxes and fees), from paid services provided budgetary institutions under the jurisdiction of the federal executive bodies, executive bodies of the constituent entities of the Russian Federation, local government bodies, etc.
According to Art. 42 of the Budget Code of the Russian Federation (BC RF), income from the use of property in state or municipal ownership includes:
Funds received in the form of rent for leasing for temporary possession and use or for temporary use of property in state or municipal ownership;
Funds received in the form of interest on budget balances on accounts with credit institutions;
Funds received from the transfer of state or municipal property to trust management;
Funds from the repayment of state loans, budget loans and budget loans, including funds from the sale of property and other collateral transferred to the recipients of budget loans, budget loans and state and municipal guarantees to the relevant executive authorities as security for obligations on budget loans, budget loans and state and municipal guarantees;
Payment for the use of budgetary funds provided to other budgets, foreign states or legal entities on a refundable and paid basis;
Income in the form of profit attributable to shares in authorized (reserve) capital business companies and partnerships, or dividends on shares owned by the Russian Federation, constituent entities of the Russian Federation or municipalities;
Other provided by law RF income from the use of property,
in state and municipal ownership.
Income budgetary institution received from entrepreneurial and other income-generating activities are fully taken into account in the estimate of income and expenses of a budgetary institution and are reflected in the income of the corresponding budget as income from the use of property in state or municipal ownership, or as income from the provision of paid services.
The economic interests of the state, interpreted as the volume and intensity (speed) of the inflow of financial resources (money) to the budgets of the corresponding levels, characterize the state as a regulator of corporate relations. Table 1 groups of indicators were presented that characterize the state-owner as an equal participant in the formation of the authorized capital - the property complex of large corporate entities. For characteristics economic relations the state as a regulator of corporate relations through the functioning of the system of taxation of economic (entrepreneurial) activities, let us consider the dynamics of the seven-year period of total revenues and tax revenues to the federal budget of the Russian Federation (Fig. 2).
The purpose of the analysis of information arrays, graphically presented in Fig. 2-5, is to identify trends and dependencies between tax and non-tax revenues to the budget. The indicated amounts of receipts make it possible to give a volumetric (quantitative) economic assessment of the real use of property complexes of large corporate entities in the corresponding periods of time.
Rapid economic assessment characterizes the system of taxation of industrial, economic and financial activities of corporations through the collection of value added tax and income tax.
A strategic economic assessment can be obtained on the basis of an analysis of the property tax collection system, rent for the use of property (property complexes) in economic circulation and the amounts of receipts (reporting and planned) from the sale of state and municipal property, restructuring and corporatization of property complexes of state and municipal organizations.
To achieve a balance of economic interests of participants in corporate entities, it is necessary to determine the ratio of the volumes of specified
25 000 20 LLC
15 000 10 LLC
these types of cash receipts. This value makes it possible to assess the efficiency of the functioning of the property complexes of the participating organizations and their structural divisions (Fig. 3).
Analysis of Fig. 3 it can be seen that there is an obvious large-scale total discrepancy between tax and non-tax revenues of the federal budget of the Russian Federation, which indicates a small "economic weight" of state revenues from property (property complexes).
To assess the quality of the economic policy pursued by the Government of the Russian Federation in terms of the operational and strategic use of property complexes with 100% or another, quite definite share of state or municipal property in the capital of large corporations, it is advisable to analyze the dynamics of non-tax revenues to the budget of the Russian Federation,
16 000 14 000 12 000
6 000 4 000 2 000 0
including total receipts from the use in economic circulation of property complexes of organizations of state and municipal forms of ownership. Obvious changes in approaches have been noticeable since 2008 (Fig. 4), which is confirmed by a certain correspondence between the operational and strategic assessments of the use of property complexes of corporate entities in economic circulation (Fig. 5).
Economic justification The legitimacy of state regulation of privatization processes as a tool for managing structural changes and capitalization of corporate entities with equity or 100% state participation in property is proved by the same growth rates of the corresponding revenues (see Fig. 4 and 5). This story is discussed in more detail by the author in the articles.
The model for reconciling state economic interests and the interests of these groups of participants in corporate relations with the formation of aggregated volumetric financial indicators is shown in Fig. 6.
Let us consider the formation of the mechanism of state regulation of the economic interests of the subjects of corporate relations in Russia. Currently, the choice of sources and forms of financing (investment) is of particular importance for corporations to ensure both strategic development and current production and economic activities. Let us dwell in more detail on the distribution of the economic interests of the participants-shareholders (holders of title deeds), creditors and functioning groups of corporations (legal entities), i.e. subsidiaries, dependent and affiliated organizations, and the state as an equal subject of the said relations, on the one hand, and their regulator - on the other.
Rice. 2. Dynamics of the total amount of revenues and tax revenues of the consolidated federal budget of the Russian Federation in 2005-2011, billion rubles: I - revenues of the consolidated budget of the Russian Federation; II - tax revenues
Rice. 3. Dynamics of tax (I) and non-tax (II) receipts of the revenue side of the federal budget of the Russian Federation in 2005-2011, billion rubles.
Practice shows that the economic interests of shareholders, integrated into the ownership structure of specific corporate entities, determine rather significant differences in the structure of sources of their long-term (strategic) and short-term (operational) financing not only of the groups themselves, but also of individual subsidiaries and affiliates within corporations.
Government regulation the economic interests of the subjects of corporate relations in the conditions of a certain economic growth is ensured with the help of the organizational and economic mechanism of property management. By analogy with the division of management functions and economic activities at the level of the state apparatus, management at the corporation level is also divided into functions of shareholders (title holders), functions of public control (external audit service) and functions of day-to-day management of production, economic and financial activities (production management). As a rule, in practice, the interests of all these subjects reveal significant differences, especially between the participants (shareholders-investors) and the managers of the corporation.
Representatives of the top management of the corporation, acting in their own interests, try to receive the highest possible wages and, using their official powers, can seize part of the assets through affiliated organizations for their own purposes. Managers can also use the means available to them in accordance with the current legislation to oppose themselves
to the owners (shareholders) in terms of the residual income received by the corporation (retained consolidated profit).
The institutional framework of property relations arising during the reform of large industrial corporations, as well as modern corporate relations regulated by the state, are determined by three basic legislative acts. These are federal laws dated 04.25.1996 No. 39-F3 "On the securities market", dated 26.12.1995 No. 208-FZ "On joint stock companies", dated 05.03.1999 No. 46-FZ "On the protection of rights and legal
Rice. 4. Dynamics of the amounts of non-tax revenues (I) and income from the use of property in state and municipal ownership (II)
in 2005-2011, billion rubles
Rice. 5. Dynamics of income tax (I) and income from the use of state property (II) in 2005-2011, billion rubles.
Rice. 6. Balance of economic interests of the state and other main participants
corporate relations
interests of investors in the securities market ”. the federal law on joint-stock companies made it possible to form in Russia a two-tier management system for large corporate entities (OJSC), in general, consisting of a management board and a board of directors. This law creates a fairly solid legal basis for effective corporate management of the property of complex organizational structures.
According to this law, a minority minority on the board of directors can block transactions that run counter to their economic interests. Thus, decisions on changing the authorized capital, on the adoption of amendments to the charter and on large (i.e., exceeding half of the book value of the corporation's property complex) transactions require three-quarters of the votes of the general meeting of shareholders.
The protection of shareholders' rights from the possible “dilution” of the shares in circulation seems to be sufficient as well. The new (additional) issue of shares must be placed on the secondary market at market value. The adoption of the relevant decision on the placement must be approved by a two-thirds majority of the general meeting. The voting procedure itself is also strictly regulated, especially when the number of shareholders is over 1,000 people. According to the law, each shareholder has the right to vote, the “weight” of which corresponds to the number of shares multiplied by the number of members of the board of directors to be elected. Sufficient attention is also paid to external control over
the activity of production management is, first of all, a mandatory external audit, and for corporations with a staff of more than 500 people. - an external independent registrar of securities (shares of a corporate entity).
The Federal Investor Protection Law regulates the rules of conduct for securities registrars, custodian institutions and traders. This greatly facilitates the very procedure for the free sale (purchase and sale) of securities on the secondary market. In addition, the current legislation establishes rather strict standards regarding the amount of financial information to be published in the open press. This is the annual financial statements (1st and 2nd forms), information on events significant for the corporation (changes in the authorized capital, the composition of the board of directors, chief managers, the structure of the share capital).
The main vectors of economic interests of the participants, regulated by the current legislation (legislative and regulatory acts of the Russian Federation), are shown in Fig. 7.
Let us comment on the ones shown in Fig. 7 directions and levels of interaction of economic interests of groups of subjects.
1-2 - relations between participants and production management, mainly due to the type of ownership (concentrated or dispersed), on the basis of which the authorized capital of the corporate entity is formed. There exist potential opportunities
Rice. 7. The main directions of interaction between the economic interests of the state and other subjects of corporate relations, regulated by the current legislation of the Russian Federation: 1- participants (owners, ie shareholders);
2 - production management (medium-high
managers); 3- creditors; 4 -personnel (employees); 5- state regulatory bodies
mergers or acquisitions of a legal entity and the associated risks of job loss.
2-3 - the relationship between production management and credit institutions, which often determine not only the relationship between the lender and the lender, regulated by the financial stability of the organization and the liquidity of the business. The relationship between top managers and the lending institution often escalates into a relationship between participants (owners) and the creditor as a possible potential institutional owner of the corporate entity (link 3-1 in Figure 7).
2-4 - relations between top managers and the personnel of the corporation, regulated by the system of contracts and the terms of the collective agreement concluded annually between the administration (top managers) and the hired personnel of the corporation.
3-5 - relations between government agencies (banking) and commercial banks or between the Central Bank of the Russian Federation and commercial organizations in the field of regulation of credit relations and taxation of credit institutions, including currency regulation.
4-5 - relations between employers and employees, regulated by the state through civil and labor legislation.
5-1 - relations between government agencies (authorities) and participants
(owners), regulated by the three above-mentioned legislative acts.
5-3 - the relationship between government agencies (authorities) and production management, regulated by civil law and the Code of Corporate Governance.
If we consider the directions of the impact of economic interests for each of the five subjects of corporate relations presented in Fig. 7, taking into account the incoming directions of influence with a minus sign, and outgoing ones with a plus sign, it is possible to draw up a balance equation of the economic interests of partners in corporate relations, which should be taken into account in management and adjusted using the organizational and economic mechanism of property management.
The contradictions between the economic interests of participants (owners) and production management (top managers) are considered in the conceptual theory of agents or the concept of transfer of powers - agency theory. At the same time, the economic interests of owners and managers are investigated, the groups of their main contradictions are classified.
Somewhat different conceptual approaches underlie the stake-holder theory, which offers ways to harmonize the economic interests of all entities directly or indirectly related to the functioning of a corporation. According to this concept, the goal of the economic activity of any corporation is not to maximize the value of the corporation (growth in capitalization), but to improve its image by improving the social and economic position of personnel and reducing environmental risks. In the absence of information asymmetry, managers make management decisions, taking into account all interested parties (owners, creditors, personnel, etc.).
Let's try to really assess the possibilities of production management to balance the economic interests of the subjects of corporate relations. To do this, we classify economic disagreements by groups that are potentially possible in the process of exercising the rights and obligations of subjects, in accordance with the current legislation of the Russian Federation (Table 2).
Summarizing the data table. 2, the following main contradictions in the economic interests of the considered groups of subjects can be distinguished.
table 2
Economic interests of the main groups of subjects taken into account when forming the organizational and economic mechanism of property management
Subjects of corporate relations Characteristics of economic interests Degree of influence on the achievement of the goal Responsibility
Owners (members): majority (board of directors), minority shareholders (board of directors) Strategic, long-term Tactical, operational, short-term High Low Limited by participation Limited by participation
Production management: executive director (general manager), top managers (board, administration), personnel, employees (collective council, trade union) Tactical and short-term (amplitude), individual Operational, short-term, collective (group) Tactical group and operational individual High (partially limited) Medium (limited) Low, minimal High individual Medium individual Low
State - participant (shareholder) Strategic, socio-economic orientation High, limited by the ownership structure High, limited by participation
The state is a regulatory and fiscal authority Strategic, aimed at macroeconomic targets High High
Stakeholders (including affiliates) Tactical and medium-term Limited or low Low, depending on the control conditions
1. Disagreements in economic interests between participants (owners) and production management (top managers) can be quite significant. So, the owners are interested in maximum capitalization and dividend payments, and top managers - in high material remuneration (wages, bonuses, managerial status). Dominants depend on the degree of ownership concentration.
2. The conflicting interests of the dominant groups of shareholders (majority shareholders) and other shareholders (minority shareholders) of the corporation, as a rule, manifest themselves in connection with the dynamics of the market value of shares: the majority shareholders have long-term interests, and the minority shareholders have short-term interests. As for investments, for some strategic innovations are decisive, for others - operational. For example, according to the International Finance Corporation, the share of retained (net) profits allocated by national companies of the Russian Federation for dividend payments increased to 21%, while such payments were made in less than 30% of regional corporations with sales of less than $ 10 million or more. than 50% of companies with sales of more than $ 10 million.
3. Disagreements between top managers and staff (employees), as well as between owners and employees, are mainly resolved on a contract basis
when hiring (hiring) for work, in the future - with the help of trade unions, civil and labor legislation.
4. Differences in the interests of owners and other stakeholders (affiliates, government agencies).
Practice has shown that a rational organizational and economic mechanism for managing the property complex contributes to the ordering of corporate relations at all levels of the hierarchy of management of subjects, which ultimately streamlines business processes and contributes to the growth of investment in the national economy. At the same time, a quantitative economic assessment that comprehensively and fairly objectively takes into account the economic interests of the state and other subjects of corporate relations and reflects the effectiveness of the mechanism for managing the property complex is provided by two identical and widely used indicators - the added value of equity capital (market added value, MAV) and economic added value (economic value added, EVA).
The problem of resolving the economic contradictions of the subjects of corporate relations is being actively studied in developed capitalist countries. The Anglo-American and German-Japanese models of corporate governance are traditionally distinguished. The first focuses on government regulation of capital markets for legal
protection of owners (participants), as well as legal entities as equal participants in economic turnover. At the same time, the rights of minority groups of shareholders are equally protected (in the case of a dispersed ownership structure). There are also special schemes for the participation of representatives of employees (corporation personnel) on the board of directors; through this mechanism, the economic interests of the personnel are taken into account.
The German-Japanese model of corporate governance (Germany, Japan, Austria, Holland, Belgium, France, Italy, etc.) has two-tier management systems - the board and the supervisory board, which includes independent directors - representatives of all subjects of economic relations. The Russian, youngest, model of corporate governance in practice enshrines rather significant rights that express the interests of all subjects of corporate relations of executive directors (president of OJSC, chairman of the board of directors, general (executive director). At present, it is necessary to pay special attention to the experience of Germany, where the employee's participation in property, management and production processes determines his motivation, interest in the final results of the corporation's activities (which not only contributes to the balance of economic interests of the named groups of subjects, but also meets the principles of economic and social justice).
Let us consider several situational models that are typical for the practice of modern corporate relations and that allow us to talk about the possibility of integrating economic interests in managing the property complex of large corporate entities.
The owners have at their disposal an effective toolkit, with the help of which it is possible to adjust the managerial decisions of managers. These are the mechanisms of internal and external control, the use of independent persons in the boards of directors, changes in the ownership structure - in case of mergers (acquisitions) or division of the corporation. In some cases, a relative harmonization of the interests of owners and managers is possible through the mechanism of monetary compensation. Relativity is due to a measure of responsibility, measured by a specific amount of costs, borne by owners and managers as a result of their management decisions.
Complicating the situation under consideration is the appearance of a third subject - an exponent of a completely op-
Certain economic interests - the creditor (in the case of long-term borrowings, the creditor is considered the investor) as the holder of the corporation's debt obligations. When there is conflict situation(mismatch of economic interests of owners and creditors) becomes a real threat of bankruptcy of the corporation. However, if there is little or no risk on a corporation's debt, lenders are not interested in either the rate of return or the market value (capitalization) of the corporation itself. If such a risk is still present, then the owners always have certain advantages over the creditors. Such advantages lie in the legal sphere, since claims on shares, in their economic and legal essence, are residual claims, and in the event of a decrease in the value of debt obligations, the value of obligations on shares remains unchanged for some time.
It is not excluded that production management makes managerial decisions that allow (within the framework of the current legislation) to transfer the corporation's assets into the sphere of its own powers, strengthening its economic positions. If managers act in the interests of the owners, then if there is a risk of default, they may be interested in transferring credit resources towards the owners of the corporation, for example, in the following ways:
Direct investment resources (loans) to the most risky high-yield assets. When making a profit, the owners remain the winners, otherwise the risk of loss is assumed by the creditors;
Reducing the capitalization of costs financed by attracted financial resources (additional issue of shares). Usually, the attraction is carried out until the profit received due to this (net present value) turns out to be equal to the amount of funds attracted for this (investment). If at the same time loans are used as additional funds, then the growth in the market value of debt obligations becomes a kind of "capital" for this part of the investment. When paying off debt obligations, in this case, there is a reduction in investment;
Having carried out a sufficiently active credit policy for partial repayment of the funds borrowed by the owners of the corporation. This helps to reduce the market value of debt obligations and preserve
a decrease (albeit often a decrease) in the level of capitalization of the corporation. At the same time, the amount of dividends received by the owners largely compensates for the decline in the value of their shares;
By hiding information from creditors regarding financial sustainability corporations. By delaying the restructuring procedure or exploiting gaps in legislation, managers make the bankruptcy and corporate reorganization procedure as complicated as possible. An economic benefit (very relative) due to the conservation of the age structure of debt obligations and an increase in risk is received by the owners to the detriment of creditors. Solving the problem of reconciling the interests of owners and managers requires a search for approaches and methods for quantitatively measuring the quality of management decisions. Owners are potentially ready and able to adequately pay for managerial decisions of managers in the presence of indicators that allow effectively, with a given degree of objectivity, to measure and evaluate their managerial contribution. Such indicators can serve as the amount of profit per common share, capitalization of the corporation, positive dynamics of profitability, the level of economic value added or added value of share capital.
Correctly selected criteria for operational strategic economic assessment will strengthen the professional motivation of corporate management to generate financial revenues that increase the capitalization of the corporation, rather than organizational pseudo-restructuring and risky investments with low returns. The Russian economy is currently characterized by the strengthening of the position of the state. This is manifested in terms of the regulation of economic and financial relations at the macro level in an increase in the share of state ownership in particularly important sectors of the economy. State regulation of financial markets, restructuring processes of large industrial and transport corporations affects the structure of the authorized capital, the balance of economic interests of the participants and the sources of strategic and current financing of economic activities. In practice, this happens through the implementation of targeted government programs (lending to specific sectors of the economy), regulation of stock market prices, through the participation of the state in large industrial corporations.
formations (holdings), through the policy of credit rates (participation of the state in credit institutions, adjustment of the refinancing rate of the Central Bank of the Russian Federation, etc.).
As mentioned above, the coordination of the economic interests of the participants (owners) can have a direct impact on the structure of funding sources for large corporate entities. VB Kondratyev considers three basic approaches to explain the differences in the structure of funding. Within the framework of the first approach, the structure of the corporation's capital seems to be moving towards a well-defined optimal model that is possible under the conditions of the legislation in force in the field of bankruptcy and the level of taxation, harmonizing the composition and structure of assets, the level of investment risk and the amount of profitability.
The second approach characterizes the influence of the conflict of economic interests between insiders and outsiders on the optimality of the structure of corporate finance sources. In this case, it is believed that the agency costs associated with the exercise of the managerial powers of the corporation's managers prevail.
The third approach focuses on the problems associated with the imperfection of the Russian financial market. A certain asymmetry of information and the presence of transaction costs limit the ability of production management to manage the investment process. The conflict of economic interests of owners, creditors and management can have a direct impact on the efficiency of the corporation and its development strategy, making it difficult to form a rational structure of funding sources. So, the analysis of debt financing, on the one hand, provides control over the actions of production management, but, on the other hand, leads to an increase in agency costs. This is explained by the fact that the growth of credit risks contributes to an increase in the proportion of remuneration to creditors and other holders of debt obligations, which they receive when distributing the net consolidated profit from all profitable investments of the corporation. Such a prospect of income redistribution in reality contributes to the refusal of owners from strategically profitable capital investments.
As a first approximation financial structure large corporate entities, in the capital of which there is (or prevails) state
donation property can be represented by the following basic indicators:
Financial stability indicators (the ratio of own and borrowed funds);
Share of debt obligations in the total amount of capital investment financing;
The share of short-term liabilities in the total liabilities of the corporation;
The level of coverage of debt obligations by cash, that is, the ratio of current gross cash, before taxes and depreciation, to the average interest rates for the period on debt obligations (loans).
Achieving a balance of interests of all participants in large corporate entities (including the state) and an incentive to build a rational structure of the property complex, ensuring the mobilization and optimal transfer of financial resources, should be:
Legalization of the equality of all forms of ownership, development of methods for registering the corresponding rights and their subsequent protection;
A clear distribution of the rights and obligations of the parties, consistency of decisions and adopted provisions on the basis of legislative and regulatory acts;
Consistent reform of the corporate sector through a system of federal laws prescribing the procedure for the creation, merger (merger) and separation of large corporate entities, as well as laws on the functioning of the stock market (securities market), on the bankruptcy of organizations, etc .;
Transparency of management of the property complex (support of the distribution of financial resources with reliable and transparent reporting on the production and economic activities of the corporation and on its financial condition);
Regular control over the intra-corporate distribution of managerial powers, analysis of decision-making procedures, compliance with the rules of statistical and financial reporting.
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In the conventional sense, property is usually understood as the fixed assets of enterprises. This approach arose from the definition given in the economic dictionary, which states that property is a material object of civil rights, primarily property rights. In addition, property is considered as a set of property rights (asset) or property rights and obligations (asset + liability) belonging to a particular person. Possession is the actual possession of a thing, one of the powers of the owner.
In the economic literature, many authors consider the property complex of an enterprise as a set of immovable and movable property and investments, intangible assets (included and not included in the balance sheet), circulating assets, securities and other assets. "
The management of the property complex is designed to solve the following tasks: to ensure a simple and expanded reproduction of fixed assets, the safety and the necessary increase in its own circulating assets, the rational use of land plots under the control of enterprises, 1
1 Grigoriev V.V., Ostrovkin I.M. Valuation of enterprises: Property approach: Study guide. M .: Delo, 2000.
development of production facilities and maintenance of property in working order 1.
The issues of managing the property of organizations and enterprises were on the agenda in connection with the process of privatization and the transfer of ownership to joint-stock companies of various types of state property in the form of buildings, structures, equipment, machinery, mechanisms and other elements of fixed assets.
Owners appeared, but the structure and composition of the property received in the process of transfer took shape until 1991, proceeding not so much from production needs as in the process of endowing enterprises with fixed assets, allocating centralized capital investments. In other words, the property of many enterprises is a consequence of the planned system of managing the national economy, and its composition corresponded to this system, i.e. structure of production, nomenclature and volumes of products.
Further, in the process of development of market relations, new fixed assets were acquired, worn-out and obsolete ones were replaced. The fixed capital of the enterprise was formed as a value estimate of fixed assets and other tangible and intangible assets, which are credited to the balance sheet and used for a long period of time in many production cycles. During operation, the main production assets gradually transfer their value to the cost of production in parts, gradually become unusable and need to be replaced. During the operation, the enterprise should be able to accumulate a sufficient amount of funds for the replacement or modernization of equipment.
Therefore, the property complex is primarily a reproductive category. Each enterprise is obliged to ensure the reproduction of its resource potential. Lack of attention to this issue led to a sharp aging of fixed assets, a high, more than 60% level of wear and tear, extremely slow introduction of new technologies, ineffective attitude to land, a decrease in the level of qualifications of workers, a reduction in the size of its own working capital and other negative consequences. The result of these trends is obvious - many enterprises are on the verge of bankruptcy.
In a market economy, it is extremely important to create an effective property management mechanism at the enterprise level in order to obtain the maximum possible value for
1 Kozlovsky A.V. Property complex of construction organizations: Textbook, manual. M .: GUU, 2001.
were. It is necessary to comprehensively consider the problem of managing the property complex, taking into account all the relationships that arise in the production and sale of products, to optimize costs and expenses, tax burden, ensure the economic and financial reliability of the enterprise, minimize the likelihood of bankruptcy, liquidation or sale of a business.
The property complex of an enterprise must provide optimal conditions and a basis for effective development, for this it is necessary:
- determine the efficiency of enterprises, based on the principles of integrated systems approach to assess the influence of various groups of factors of external and internal environment, as well as depending on the presence and degree of influence of various risk factors and uncertainties in the process of functioning of enterprises in various economic situations;
- to implement the resource policy of the enterprise, which ensures the rational use of resources at various phases of the construction cycle.
It is advisable to analyze the category "property complex" as an object and subject of civil law, as well as to consider the assessment of the value of real estate and land as investment resources 1.
Construction companies are the most important structural link in the investment process. If the investment process as a whole is quite effective, then its results have a significant positive effect on other sectors: the building materials industry, the chemical and metallurgical industry, etc. In other words, there is an economic effect for subcontractors in the form of an increase in production volumes and profits. Therefore, the investment process must have clearly defined prospects and a well-thought-out effective investment strategy. This strategy is determined by changes in the investment market, the role of the state, the current tax system, the effective demand of consumers of construction products and other factors. Therefore, any investment decision should be worked out in several options, which significantly affects the structure of the property complex of the enterprise.
An investment strategy and the possibility of its specification presuppose the accumulation of financial resources necessary for its implementation. Unfortunately, the low level of profitability is 1 Kulikov A.S. Assessment of the value of real estate as an investment resource: Author's abstract. dis .... cand. econom. sciences. M., 2001.
industrial production and existing depreciation policy do not allow to provide required level savings to ensure a simple, not to mention extended, reproduction of fixed assets of construction enterprises. And only a properly assessed property complex, according to many scientists, in modern conditions can be a guarantee of attracting investments from outside and be considered in modern conditions as an investment resource.
In recent years, many researchers of the problems Russian market securities put forward the thesis that Russian enterprises are largely underestimated by the market in comparison with enterprises in developed or even developing countries. Thus, according to analysts' estimates, Russian enterprises are undervalued in comparison with their foreign counterparts.
Let us dwell on the features of the property complexes of construction companies. Construction enterprises, unlike industrial ones, do not occupy large land plots. An exception is made by enterprises that have their own production base, for example house-building factories. Construction enterprises may have quarries for the extraction of sand or gravel, landfills for the installation of metal structures, territories occupied by the departments of production and technological equipment.
Considering movable property and investments, it can be noted that the main place in it is occupied by machines, mechanisms, vehicles, tools and inventory. This group accounts for more than 70% of the entire property complex of construction companies. This property structure is also related to the fact that construction machines and the mechanisms are extremely expensive, have a long service life, but at the same time have a very low utilization rate over time. Therefore, the return on the active part of the property is 60-70%.
Evaluating the article "Inventories and costs", it can be noted that in modern conditions construction companies do not need to create large volumes of stocks of building materials, since this market is quite saturated. Exceptions can be enterprises operating in regions where, due to natural and climatic conditions, it is necessary to ensure seasonal delivery of materials, and, therefore, to create a stock for several months. In addition, the problem of stocks has two sides - the diversion of funds from economic turnover for a long period of time and a slowdown in their turnover, as well as the availability of a sufficient amount of own circulating assets to preserve these stocks.
In the article “ Cash and other financial assets ”, a high level of accounts receivable can be noted due to violations of the terms and conditions of payment by customers for the completed construction and installation work. Construction companies also incur additional costs because there is a gap in time between the completion of work on the object and its acceptance by the customer. During this period, the construction company is forced to bear the costs associated with the operation of the constructed facility. This primarily applies to residential buildings and social facilities.
In the process of deepening market relations and in connection with periodic revaluations of fixed assets, their structure began to change.
Revaluations of fixed assets, carried out on the basis of the coefficients for converting their book value into replacement value, developed by the State Statistics Committee of Russia, naturally led to significant discrepancies between the real and book value of fixed assets.
Obviously, with such a structure of fixed assets, the industry compares favorably with others, since the main object of capital investment is the active part.
In recent years, the relationship between the specific gravity of buildings and structures and the active part of the assets has changed inversely. This is due to both market factors and quantitative changes in the nomenclature of the main types of machines and mechanisms.
It should be noted that in the structure of property complexes of all the largest construction enterprises of the Republic of Tatarstan, due to poorly organized accounting of intangible assets and intellectual property, their share in the balance of assets does not exceed 1%.
Thus, the analysis of statistical information indicates a significant specific gravity fixed assets in the structure of the property complex of construction enterprises.
In addition, a qualitative analysis of the state of the property complex of enterprises showed that:
- fixed assets of enterprises are accounted for at the book value, which does not correspond to their market value;
- the property structure does not include the value of land plots;
- business leaders do not pay due attention to accounting
intangible assets.
During the revaluation of property (a group of homogeneous fixed assets) of an enterprise, as a rule, its initial
(book value. As a result, the amount of property tax payable to the budget changes:
where b "But and AHf - the amount of property tax, respectively, before and after the revaluation of fixed assets;
DAN I - change (increase or decrease) in the value of property tax as a result of revaluation of fixed assets.
A change in the value of the revalued property will lead to a proportional change in the amount of depreciation deductions, which in turn, due to the attribution to the cost of products (works, services), will affect the calculation of the amount of income tax:
where AHJJ and AH "- the amount of income tax, respectively, before and after the revaluation of fixed assets;
DAN P - change (increase or decrease) in the amount of income tax as a result of the revaluation of fixed assets.
Thus, the revaluation of fixed assets creates the possibility of managing the taxable bases for property tax and income tax.
We will show the main points of the search for reserves for the development of enterprises based on the management of fixed assets through their revaluation.
The defining modern tasks of the revaluation of fixed assets include:
- elimination of mixed valuation of fixed assets at full initial cost in prices of different years;
- obtaining objective data reflecting the total volume, species and sectoral structure, territorial distribution and technical condition fixed assets;
- determining the actual physical depreciation and comparing it with the accumulated depreciation charges;
- obtaining a reasonable basis for calculating depreciation charges;
- coordination of the volume of funds with the dynamics of production;
- optimization of taxation by recalculating property tax;
- minimization of pricing by balancing the share of depreciation in the cost of goods (works, services);
- improving the manageability of fixed assets by determining the efficiency of their use in production process;
- determination of the cost of realization of fixed assets;
- determination of the volume and structure of capital investments, production of fixed assets;
- company property insurance;
- transfer of fixed assets to operating lease;
- organization of leasing;
- registration of fixed assets as a contribution to the authorized capital of another enterprise;
- development of a business plan for the implementation of an investment project.
Today, the revaluation of fixed assets is less and less viewed by researchers and business executives as a procedure for accounting and control and increasingly acts as a mechanism for business planning. Reevaluation allows managers to adequately assess the development potential of the enterprise and outline the ways of its implementation.
Another source of increasing the efficiency of management of fixed assets of enterprises is improving the quality of their accounting.
A well-performed revaluation based on technical inventory data ensures a reduction in profit losses during the sale or write-off of machinery and equipment. Solving the current problems of enterprises by postponing indefinitely the replacement of outdated fixed assets can lead to difficult-to-eliminate consequences for these enterprises, to call into question their very existence. The change in the residual value as a result of the implementation of the joint process of technical inventory and revaluation makes it possible to replace obsolete equipment on the basis of writing off the non-depreciated part when minimal losses by profit.
Thus, as the system of economic relations changes and market trends intensify, the revaluation of fixed assets is increasingly turning from a control and accounting tool into a mechanism for identifying internal reserves and increasing production efficiency. The inclusion of the revaluation of fixed assets in the marketing technologies of enterprise management allows, through the use of an integrated approach, to significantly increase its impact on the activities of the enterprise as a whole.
Assessment of the market value of property is determined using classical approaches to assessing value - cost, comparative and profitable.
When determining the market value of the appraisal item, the most probable price is determined at which the appraisal item can be alienated on the date of appraisal in the open market in a competitive environment, when the parties to the transaction act reasonably, having all the necessary information, and the value of the transaction price does not reflect any extraordinary circumstances, i.e. when:
- one of the parties to the transaction is not obliged to alienate the subject of valuation, and the other party is not obliged to accept performance;
- the parties to the transaction are well aware of the subject of the transaction and act in their own interests;
- the subject of appraisal is presented on the open market through a public offer typical for similar appraisal objects;
- the price of the transaction is a reasonable remuneration for the object of assessment and there was no coercion to complete the transaction in relation to the parties to the transaction from any party;
- the payment for the subject matter is expressed in monetary terms. The possibility of alienation in the open market means that the object
valuation is presented on the open market through a public offer typical for similar objects, while the period of the object's exposure on the market should be sufficient to attract the attention of a sufficient number of potential buyers.
Reasonableness of the parties to the transaction means that the transaction price is the highest price reasonably achievable for the seller and the lowest price reasonably achievable for the buyer.
Completeness of the available information means that the parties to the transaction are sufficiently informed about the subject of the transaction, act in an effort to achieve the best terms of the transaction from the point of view of each party, in accordance with the full volume of information about the state of the market and the subject of valuation available at the date of valuation.
The absence of extraordinary circumstances means that each party to the transaction has motives for the transaction, while there is no coercion against the parties to complete the transaction.
The cost approach is a set of methods for assessing the value of the appraised object, based on determining the costs that are necessary for reproduction or replacement of the appraised object, taking into account wear and tear. The costs of reproduction of the appraisal object are the costs necessary to create an exact copy of the appraisal object using the materials and technologies used to create the appraisal object. The costs of replacing an appraisal item are the costs required to create a similar item using materials and technologies that are used at the appraisal date.
Comparative approach - a set of methods for appraising the value of the appraisal object based on a comparison of the appraisal object with objects - analogues of the appraisal object for which there is information on prices. An object - an analogue of the object of appraisal for the purpose of appraisal is an object similar to the object of appraisal in terms of the main economic, material, technical and other characteristics that determine its value.
Income approach - a set of methods for assessing the value of the appraisal item, based on the determination of the expected income from the use of the appraisal item.
The land and property complex is an object of universal interests, a factor in the reproduction process, a basic element of property relations and requires modern and effective management. One of the important tasks of management is the assessment of the value of the property of the enterprise.
Information system " Management and disposal of the property complex"(Hereinafter referred to as the System) is intended for use by the state authorities of the Russian Federation that maintain records and manage property located in various legal forms... The system has the following functionalities:
Cadastral registration of land plots, immovable and movable property in the context of legal, economic and technical characteristics;
Maintaining a register of counterparties - legal entities, individuals, individual entrepreneurs, as well as enterprises and institutions in the context of contracts (and other transactions) with property objects;
Implementation of all types of transactions with property objects, preparation of draft agreements, orders, resolutions, acts and other documents;
Calculation of fees for the use of property, calculation of penalties, fines in the personal accounts of payers;
Analysis of receipts from the Federal Treasury Department on personal accounts of payers, the possibility of using billing technology (payment terminals), interaction with banks, as well as interaction with the GIS GMP;
Monitoring and analysis of the state of the property complex;
An Internet portal for counterparties to access information on personal accounts, prepare receipts for payment, etc.
The implementation of the System will make it possible to carry out:
Complete inventory control of real estate, movable property and land plots, control over the integrity and completeness of data;
Reduce labor costs, the workload on employees and the risk of a "human factor" when calculating payments for the use of property, preparing and printing financial and accounting documents, analyzing receipts by automating the maintenance of personal accounts and analyzing payments;
Setting up the System in accordance with changes in legislation (regulatory and reference information, methods and calculation parameters);
Increase in income from the use of property due to the prompt identification of debtors and automation of the process of conducting claims and claims;
Reflection of property potential, its dynamics and structure;
Monitoring and analysis of property and land resources, ensuring control over the use of property;
Enforcement of legislation on open data and so on.
DESCRIPTION OF FUNCTIONALITY
Subsystem "Maintaining a single register of property objects"
The subsystem is used to implement and display the processes of formation of property objects (land plots, immovable, movable property) of their state registration with the possibility of dividing by municipalities, the emergence and state registration of property rights to them. It has the functionality for entering / loading data on legal, economic, technical and other characteristics, reflecting the registration of property rights, accounting for technical and title documents, maintaining the history of changes in objects.
The subsystem ensures the optimality of management decisions on the disposal of property when it is leased, alienated, assigned to economic management and operational management, transferred to use or trust management, contributed as a share in the creation of business entities, used as collateral to secure credit obligations.
Subsystem "Maintaining the register of contractors"
Maintaining a register of counterparties (legal entities, individuals and individual entrepreneurs) involves storing information on persons who enter into legal relations with the Administration. Information is displayed on all types of legal relations with a counterparty in the field of property relations (rent, acquisition (alienation) of property, etc.), the history of activities is kept.
Enterprises and institutions are also included in the register. The collection of data on the property transferred and acquired by them is carried out, the analysis of financial and economic activities is carried out.
Control is carried out at each stage of the liquidation procedure, bankruptcy of counterparties in order to timely seize property and collect debt.
Subsystem "Management and disposal of property objects"
This subsystem serves to implement and display the processes of managing objects (transactions): transfer of property for rent, registration of property, free use, maintenance and operational management, permanent (unlimited) and free fixed-term use, trust management, storage, acquisition of property, purchase / sale apartments and rooms in communal apartments.
The subsystem provides preparation of draft documents (orders, resolutions, lease agreements, etc.), calculates the purchase price of objects.
The control of the integrity, completeness of documents is carried out, the control of the terms of execution of documents, the terms of use of property, compliance with the regulations for the implementation of transactions is carried out.
There is a system of reminders to users about the main events in the System (the need to execute a document, prepare a document, etc.).
Subsystem "Maintaining personal accounts and administration of income from the use of property"
The subsystem is used for maintaining personal accounts, calculating and calculating fees for using property, making preliminary calculations (for lease agreements), controlling payment, analyzing arrears and taking measures to reduce arrears (claim work), preparing financial and accounting reports.
The subsystem carries out mass and individual preparation of settlement forms and forms of payment (PD-4) for sending to payers.
The subsystem provides the ability to collect, store and process information from municipalities, constituent entities of the Russian Federation.
Implementation of the Federal Law of the Russian Federation dated July 27, 2010 No. 210-FZ "On the organization of the provision of state and municipal services", interaction with the GIS GMP was ensured.
Subsystem "Analysis of receipts (payments) on personal accounts of payers"
The subsystem is used to interact with the Federal Treasury authorities, download and process information on payments, as well as interact with banking structures to download payment orders. Billing technology is used to collect payments through payment terminals.
Subsystem "Conducting claims work with debtors under lease agreements"
The subsystem combines the work of specialists in the implementation of payments for the use of property and legal services. The subsystem identifies defaulters, prepares instructions, claims for payment of arrears, claims.
The subsystem controls the deadlines for the execution of documents using a system of reminders and user alerts.
Lawsuits are being conducted up to the entry of court decisions into legal force. The activity of the bailiff service is being monitored.
Subsystem "Monitoring the state of the property complex" and the subsystem "Analysis of the effectiveness of property management"
The subsystems provide instrumental support for the formation of analytical materials on the state of use of property at the current time and for the selected reporting period, containing both text and graphical forms of information presentation. Formation of analytical materials is organized in an automated mode in accordance with user-specified parameters.
Within the framework of these subsystems, mechanisms of information and technological support have been created. management activities and making management decisions.
Subsystem "Internet portal"
The subsystem includes the creation of an electronic portal (counterparty of the Office), which allows the user to receive the following information:
Print a payment order for payment of the principal debt, penalties, arrears for actual use without manually entering any additional data;
Ability to leave a request to receive certificates, statements of reconciliation, extracts from personal accounts and other documents;
Submit a preliminary request for the extension of contracts, assignment of lease rights, or termination of the lease;
UDC 332.1: 338.6 BBK 65.9 (7) K-91
Elena Gazizovna Kosova, applicant, assistant of the department "Finance and Credit" of the Economic Institute of the Federal State Educational Institution of Higher Professional Education "North Caucasian State Humanitarian Technological Academy", t89280257925.
FEATURES OF MANAGING THE PROPERTY COMPLEX OF URBAN MUNICIPAL EDUCATION
(reviewed)
The article examines various forms of management organizations and methods of effective use of the property complex of the city municipality.
Key words: management, city municipality, municipal economy, property complex.
Kosova Elena Gazizovna, applicant, assistant of the Department of Finance and Credit of the Economic Institute FSEI HPE ”North-Caucasian State Humanitarian Technological Academy,” tel .: is: 89280257925.
FEATURES OF PROPERTY MANAGEMENT OF CITY MUNICIPALITY
The article discusses various forms of management organization and ways of efficient use of the property complex of the city municipality.
Keywords: management, urban municipality, municipal economy, the property complex.
The efficiency of a municipal entity is determined by the state of its economy, and it, in turn, depends on the level of use of municipal property and the resources it has. The development of the municipal economy is most in line with the interests of the population.
An integral part of the municipal economy is the municipal economy, which is a set of enterprises and institutions that carry out on the territory of the municipality economic activity aimed at meeting the social needs of the population.
Revealing the problems of local economy management, we note that the local economy is a collection of municipal enterprises, organizations, institutions, engineering infrastructure facilities, municipal housing stock, and other property that serve the population of the municipal formation. In principle, the composition of the local economy includes not only objects of municipal property, but also enterprises, organizations, institutions and objects of federal, republican and private property, the activities of which are mainly associated with serving the population.
In the municipal ownership of the city of Cherkessk there is property intended for resolving issues of local significance of the urban district, for the implementation of certain state powers transferred to the local self-government bodies of the municipal formation, for ensuring the activities of municipal unitary enterprises and municipal institutions, as well as for solving the issues of organizing the life support of the municipality, the right to solve which is granted to local authorities by Federal laws.
The composition of municipal property is determined in accordance with federal laws and laws of the constituent entities of the Russian Federation. According to Federal Law No. 131-FZ of 2003, municipal property includes:
Property intended for solving local issues, including municipal lands and some natural resources;
Property intended for the exercise of certain state powers by local self-government bodies;
Property intended to support the activities of bodies and officials of local self-government, municipal employees, employees of municipal enterprises and institutions.
Federal law of 2003 specifies the composition of municipal property, which
may be owned by settlements, municipal districts and urban districts. According to the Law, only property necessary for the fulfillment of the powers of local self-government bodies as a public authority should be in municipal ownership.
Property intended for commercial use (profit making) must be transferred to other owners. Municipal property, depending on its purpose, can be divided into two main groups: property that allows you to conduct economic activities, produce goods and provide services, and property that ensures the implementation of managerial and other non-economic functions of local government. The property of the first group is assigned to municipal enterprises and institutions on the basis of the rights of economic management or operational management. It allows business entities to function, and in some cases - to make a profit and pay taxes and fees to the budget. The property of the second group, not assigned to municipal enterprises and institutions, constitutes (together with financial resources) the treasury of the corresponding municipality.
Based on the indicators in Table 1, we can conclude that municipal enterprises are unprofitable and the economic basis that was created by the previous period, namely in 2007 and previous years, was largely destroyed by the economic crisis, but timely assistance from the republican and federal authorities contributed to the preservation of municipal enterprises and their functioning. A positive aspect is the increase in investment in fixed assets and the relative stability of the number of employees (no sharp decline in the number of employees), a decrease in unprofitableness by 2.5 times.
Table 1 - Dynamics of the efficiency of the use of municipal property in the urban municipality of Cherkessk, 2007-2009
2007 2008 2009 2008 to 2007,% 2009 to 2008,%
Enterprises by forms of ownership, units 6354 6964 7270 109.6 104.4
state 279 272 272 97.4 100.0
municipal 108 100 101 92.5 101.0
private 5339 5982 6591 112.0 110.1
Average number of employees, people 10.8 10.1 9.9 93.5 98.0
Volume of self-produced goods shipped, works and services performed, thousand rubles 1838.3 2100.2 1755.0 114.2 83.5
Availability of fixed assets, million rubles 2642.4 3188.7 4100.1 120.6 128.5
Fixed capital investments, mln. Rub. 945.3 1301.1 1379.7 137.6 106.0
Balanced financial results(profit (+), (loss (-) of activities of organizations, million rubles 121.7 -44.7 -17.8 -36.7 -38.8
Source: compiled according to the data of the city municipality of Cherkessk.
As you know, the existing legislation allows local governments on behalf of the municipality to independently own, use, dispose and manage municipal property. In accordance with the Law, they have the right to transfer municipal property for temporary or permanent use to individuals and legal entities, state authorities and local self-government bodies, alienate, make other transactions in accordance with federal laws.
In modern conditions, the full-fledged functioning of Federal Law No. 131, the question of forming a system of measures to create a management mechanism and effective use of municipal property in the system of each particular municipality has become acute as never before, since municipal property is a source of financial and economic power of any management system.
Let's consider some forms of management of the municipality that are acceptable for use by the municipality of the city of Cherkessk. The system of municipal government can interact with private enterprises through the form of a municipal order. These are works aimed at performing work on the improvement of the territory of the municipality, public services to the population, the construction and repair of social infrastructure facilities, the production of products, the provision of services necessary to meet the household and socio-cultural needs of the population of the territory of the municipality, to perform other works using the stipulated for this material and financial resources at the expense of the local budget. Consequently, the involvement of subjects of various forms of ownership in the economic turnover constitutes the economic and legal nature of the local economy, and this diversity must be used when creating a financial system of municipal government.
The system of municipal administration today has become the very structure that integrates objects of the local economy and solves all economic and social problems and tasks of servicing the municipal economic complex. One of the spheres of municipal economy and management for the city is the objects of socio-economic infrastructure, that is, institutions of health care, education, preschool education, culture, managed directly by the city, these spheres, as a rule, are part of the municipal property and are supported through budgetary funding.
The second fairly large-scale area of municipal management is made up of the spheres of economic life, working mainly on the principles of commercial calculation - this is trade, consumer services, housing and communal services, transport, construction.
The first and second spheres together represent a socio-economic system that reproduces the life of the population living in a given territory.
One of the methods of disposing of the municipal property of the city of Cherkessk is operational management, this method is a system of relations in which an enterprise or institution uses and disposes of property within the limits established by law, in accordance with the goals of its activities, the tasks of the owner and the purpose of the property. The owner has the right to seize unnecessary unused property and dispose of it at his own discretion. The subject of operational management can dispose of the assigned property only with the consent of the owner. The owner, represented by the municipality, determines the procedure for distributing the income of an enterprise or institution, and the business entity manages the income and property acquired from these incomes independently. For the obligations of the subjects of operational management in case of insufficient property, the municipality as the owner bears subsidiary responsibility.
For the system of municipal government, the most cost-effective method of disposing of municipal property is rent, i.e. leasing for temporary use of municipal property not assigned to other legal entities on the basis of property rights. The right to lease municipal property belongs only to the municipality as the owner. The transfer of municipal property is formalized by a lease agreement, according to which the lessor undertakes to provide the lessee with certain property for temporary use for rent. In this case, the income received by the lessee as a result of the use of the leased property in accordance with the contract is his property. Land plots, natural objects, enterprises and other property complexes, buildings, structures, equipment, vehicles and other things that do not lose their natural properties during their use can be leased out. The lease agreement must contain data that allows you to definitely identify the property to be transferred to the lessee as a lease object. The property is rented out together with all its accessories and related documents. When concluding a lease agreement, the municipality notifies the tenant of all the rights of third parties to the leased municipal property (easement, right of pledge, etc.).
The method of trust management of municipal property is little used in the practice of municipal administration in Russia, including the city of Cherkessk. The essence of this method lies in the fact that trust management is carried out on the basis of an agreement, according to which the municipality as a founder transfers the property to the trust manager for a certain period of time. Management is carried out in the interests of the municipality, in some cases, it is possible that trust management will be carried out in the interests of a person trusted by the municipality. This person can be an individual entrepreneur or a commercial organization, with the exception of a unitary enterprise. The property is not subject to transfer to the trust management of the state body or the body of another municipal formation. The transfer of property to trust does not entail the transfer of ownership of it to the trustee, but he has the right to perform in relation to this property in accordance with the contract any legal and actual actions in the interests of the municipality.
Trust management can include all objects of municipal property, these are enterprises and property complexes, individual objects, securities and other property. Property already allocated by the municipality on the basis of economic management or operational management cannot be transferred to trust management.
The form of effective use of municipal property is the participation of the municipal entity in business entities. Management of owned
to the municipality in shares (shares, shares) in authorized capital business entities are carried out by the administration of the city district. The administration of the city district appoints its representative to participate in the work of the management bodies of business companies and partnerships, in the authorized capital of which there is a share of the municipality. The privatization of shares (shares, stakes) belonging to the municipality in the authorized capital of business entities is carried out on the basis of the approved forecast plan for the privatization of municipal property and decisions on the conditions for their privatization adopted by the Duma of the city district. It should be noted that the municipality of the city of Cherkessk has the opportunity to use this form, but misses this opportunity.
Some municipalities, subject to the appropriate conditions, can take advantage of the concession agreement. According to the concession agreement, one party (concessionaire) undertakes at its own expense to create and (or) reconstruct the property defined by this agreement, the ownership of which belongs or will belong to the other party (concessioner), to carry out activities using (operation) of the object of the concession agreement, and the concessioner undertakes to provide the concessionaire for the period established by this agreement, the rights of possession and use of the object of the concession agreement for the implementation of the specified activity. The list of the proposed forms of effective management of municipal property is not final, theory and practice will create, and other, new ways will be presented, but the city of Cherkessk can use the above forms for the benefit of the population.
Literature:
1. Zotov VB Municipal government system. SPb .: Peter, 2008.271 p.
2. Vasilenko I.A. State and municipal administration. M., 2005.S. 41.
3. Roy OM The system of state municipal government. M., 2005.S. 63.
1. Zotov V.B. The system of municipal governance. SPb .: Peter. 2008.271 p.
2. Vasilenko I.A. State and municipal management. M.: 2005. P. 41.
3. Roy O.M. The system of state municipal governance. M .: 2005. P. 63.
