The statutory fund is ... Definition, formation, minimum size

In accordance with the legislation of the Russian Federation, enterprises - private, state or municipal, must have statutory funds. What is their purpose? How are the relevant funds formed, adjusted and used?

What is the essence of the term "statutory fund"?

First, let's define the essence of the term in question. The concept of "statutory fund" has several meanings.

In a broad sense, this term can be considered appropriate property of any enterprise (private, public), which is represented in monetary terms, tangible and intangible assets. In a number of contexts, it can be synonymous with the notion of "authorized capital", which corresponds to the resources of a private enterprise.

In its turn, in a narrow sense, an authorized fund is a property that belongs only to state or municipal entities of economic activity.

Let's study, therefore, the term in question in the two most common interpretations:

- as corresponding to property of private firms (acting as a synonym for the concept of "authorized capital");

- as indicating the resource used in the economic activities of state and municipal enterprises.

Statutory fund of state and municipal economic entities

We will study the specifics of a narrower interpretation of the term in question. Its essence is determined by the legislation of the Russian Federation on the activities of state and municipal enterprises.

In accordance with these provisions, the statutory fund is the minimum amount of ownership of companies owned by the state or local authorities, which is used to satisfy the interests of creditors and other empowered persons. The given resource can be formed by means of monetary transfers, inclusion of valuable things, various property rights into the ownership of the enterprise.

The size of the statutory fund of state and municipal organizations

The size of the statutory fund of a state or municipal economic entity is determined by law and may change. As a rule, it corresponds to the values expressed in thousands of minimum wages. Usually, the requirements for the size of the statutory fund for state-owned enterprises are higher than for municipal ones.

Legislation establishes a special order for the formation of the resource, which is in question - including in terms of its minimum value. Let's study it in more detail.

How is the statutory fund formed?

The formation of the resource in question is carried out in the manner prescribed by law. In accordance with the provisions of the rules of law governing these procedures, the statutory fund of the organization must be formed by the owner of the business entity within 3 months from the moment when the state registration of the company is completed.

The resource in question is considered to be formed, as soon as the monetary funds in the minimum value or in the amount exceeding the criterion established by the law will be credited to the settlement account of the state or municipal enterprise. In a number of cases, the formation of the statutory fund is recognized as having taken place if the necessary amount of resources is transferred to the economic management of the entity.

The legislation of the Russian Federation establishes the procedure for increasing the resource under consideration. Let's study it.

The procedure for increasing the statutory fund

The statutory fund is a resource that can be increased in the manner prescribed by law. This procedure can be carried out, first of all, only on the fact of formation of the fund in full.

An increase in the corresponding resource is possible at the expense of property transferred by the founder of a state or municipal economic entity, as well as from proceeds obtained in the course of the entrepreneurial activity of the firm, if it is not prohibited by law.

The decision to increase the amount of the statutory fund is made taking into account the indicators reflected in the financial statements of the business entity. The value of the resource under consideration after adjustment should not exceed the value of the net assets of the economic entity. Simultaneously with the decision, according to which the statutory fund of the company increases, necessary changes are made in the organization's charter.

Those documents that are needed to register adjustments in the constituent documents, as well as those sources that confirm the change in the capital of the enterprise, are provided to the Federal Tax Service. If there are no sources, the FTS may refuse to register changes in the structure of the organization's authorized capital.

This is the specificity of the increase in the resource in question. But the statutory fund is a property that can also be reduced if necessary. We will study how the corresponding procedure is carried out, in more detail.

Procedure for reducing the statutory fund

Decrease in the size of the authorized fund of the firm is also realized with the direct participation of the founder of the economic entity. This procedure can be carried out at the request of the owner of a municipal or state enterprise or by law. The statutory fund of an economic entity can not be reduced if, in fact, its value is reduced, it will be lower than the minimum value of this resource, as determined by law.

Decrease in the authorized fund: requirements for economic indicators

If, at the end of the financial year, the value of the net assets of the enterprise is less than its statutory fund, then the owner of the relevant economic entity will have to reduce the value of this fund to a value that does not exceed the value of assets. Changes in the size of the resource in question are to be registered with the Federal Tax Service in the manner prescribed by law.

If, at the end of the financial year, the amount of net assets is less than the minimum statutory fund, then if this ratio of economic indicators persists for 3 months, the owner of the enterprise will have to liquidate or reorganize the firm. The cost of net assets in this case is determined based on the information recorded in the accounting records.

If the enterprise does not ensure bringing the statutory fund to the required level, or does not initiate liquidation or reorganization of the firm in cases provided for by law, the creditors of the business entity will be entitled to request early fulfillment of existing obligations or compensation for losses incurred.

This is the essence, the specifics of the formation and adjustment of the size of the statutory fund in state enterprises and those that are established by municipal authorities. Let us now consider the essence of the term in question in the context of the work of private structures. For example, economic societies.

Statutory fund, or capital in business entities

The statutory fund, or the capital of the organization, is one of the key sources of property of a private economic entity. The given resource is formed, mainly, due to the contributions of the owners - directly at the establishment or in the process of business development.

The authorized capital of the organization is the property of the firm, which is used, first of all, to satisfy the interests of the creditors of the organization, as in the case of state enterprises. Its value is reflected in the constituent documents of the economic entity.

The minimum amount of the authorized capital

The minimum size of the corresponding resource is ten thousand rubles for LLC. For AO it is 100 times the minimum wage, for public joint stock companies - 10 times more. The largest size of the minimum authorized capital is set for banks, it is 300 million rubles.

The corresponding property of the economic entity must be formed at a certain time. So, the members of the LLC, for example, must contribute to the authorized capital of the LLC within 4 months from the moment of its registration with the Federal Tax Service.

Composition of authorized capital in business entities

The resource in question can be represented by cash, various shares, material values or, for example, property rights. When the members of the LLC contribute certain types of property to the authorized capital, it is necessary to confirm the value of the invested resources through an independent evaluation. The considered type of property is not subject to taxation and is not considered to be expenses of the economic company.

Charter capital and participation of owners in business

If there are several founders of the company, then the share in the statutory fund of each of them should be determined. The relevant property is transferred to the cashier's office or to its settlement account. If one of the founders of a firm withdraws from its membership, then the share in the authorized capital belonging to it must be reimbursed. For this purpose, the legislation establishes a certain period - 6 months after the end of the fiscal year.

At the same time, the right of founders of firms, in particular, if it is a question of LLC, on the way out of business should be fixed in constituent sources - first of all, in the organization's charter. If this agreement is not concluded between the owners, then the procedure for the founder to leave the company can not be carried out at his request.

Functions of the charter capital in a private organization

The statutory fund of a private firm is characterized by special functions. Such as, for example:

- distribution of shares in the ownership of the business between the founders;

- ensuring the protection of the interests of creditors: in the event that the enterprise that took the loan is insolvent, the empowered persons will be able to compensate for losses at the expense of the funds making up the authorized capital of the enterprise.

The strategy of investing in the corresponding resource of the company is the most important component of the work of the enterprise managers. Corporate governance is a key area of activity for the management of an economic entity, it involves regular consideration of issues related to investing in the authorized capital.

This is due to the fact that the corresponding resource performs one more important function - ensuring the investment attractiveness of the company. The growing authorized capital of the enterprise is an indicator of competitiveness, an indicator of the company's successful development.

Accounting of Authorized Capital

The corporate management of the firm also includes the organization of accounting. In particular, registration of business operations with authorized capital. Any contribution to the statutory fund, the redistribution of shares of this resource are subject to reflection in accounting. Special accounts are used for this. In accordance with the law, in this case, an account 80 must be involved. When registering business transactions, account 75 is used as part of settlements with founders .

Summary

So, we examined the essence of the concept of "statutory fund." It can be considered in two main contexts.

First, the corresponding fund in the narrow sense can designate the property of only the state and municipal economic entity. The order of its formation, adjustments, designation, minimum size are determined by separate norms of the legislation regulating the activity of these enterprises.

Secondly, the term "statutory fund" can correspond to the property of a private enterprise. In this case, it can be considered as a synonym for the notion of "authorized capital".

The requirements for the size and features of property management of a state or municipal and private enterprise are significantly different. So, for example, registration of LLC requires the introduction of authorized capital, which is ten thousand rubles. The establishment of a state or municipal enterprise is substantially higher. The highest minimum authorized capital is set for banks.

The main purpose of the resource in question is, in general, the same when comparing the property of private and state or municipal economic entities: it consists in ensuring the protection of the interests of creditors and other authorized persons due to the establishment of legal relations with the firm. In the event that the company urgently needs to repay debts on loans and fulfill other obligations, its authorized fund is primarily used as a source of financing.