Long-term investments are investments Money for a period of 1 to 5 years. The concept covers a wide range of possibilities.

Both securities (shares and debt obligations) and construction and purchase of real estate are used.

A key feature of long-term projects from shorter time frames is a relatively high level of stability. Short-term intervals on financial markets, and short economic downturns do not have any significant effect.

Long-term investment: types and opportunities

To date, long-term investments are divided into separate classifications according to investment objects.

In particular, on real investment and long-term financial investments.

Financial investments include: the provision of loans, as well as the purchase of securities. The main objective of such investments is to generate additional income.

As for real long-term investments, they represent significant investments in various areas of production, in particular:

• Acquisition real estate.
• Allocation of funds for the construction of new production facilities.
• Procurement of new and upgrade of obsolete equipment.
• Purchase land plots and funds.
• Improvement of the company's key funds.
• Acquisition of real estate;
• Obtaining user rights, trademarks.
• Allocation of funds to the development of new technologies.

The profit received as a result of a successful long-term investment is a set of steadily incoming cash, which, in the end, pays off the project, and then makes a profit.

It is worth noting the fact that this type of investment does not bring immediate and fleeting profits in the short term. In most cases, it is evenly distributed in the allotted time interval.

For instance, private investor decided to invest in housing stock in one of the prestigious areas cities.

Having invested, for example, 5 million rubles in the purchase, he will be able to sell the building in a few years at a price of 10 million rubles.

Given that the real estate market will grow and the economy is not in recession. Also, throughout the entire period of ownership of this housing stock, the investor can receive additional profit by renting it out. Thus, the profit can be about 15 million rubles.

prospects

Throughout the existence of the capital market, tools for making a profit have been improved. Today you can find many investment opportunities, from real estate transactions to the venture capital market and the derivatives market.

However, among investors, funds and banks, only a few main areas enjoy consistently high popularity. The reason for this is the low level of risk and the high level of profitability.

Purchase of securities

The basic principle of working with securities is based on buying at a low cost and selling at a higher one.

The most popular among them are:

1. Ordinary shares.
2. Debt obligations (bonds).
3. Preference shares.

Each of the three types of securities listed above has certain characteristics, and are bought on various pretexts. For example, with long-term investments in shares, as mentioned above, there is a calculation for resale at a higher price.

In other words, by buying Sberbank shares at 65.00 rubles and selling them at 100 rubles, you can make a profit of 35 rubles per share purchased. Taking into account the high liquidity of this security, its sale on the stock market will not be difficult.

Preferred shares are bought primarily to receive dividends. The difference with common shares is in ownership, the owner of a preferred share has a 100 percent chance of receiving dividends, while the owner ordinary share may be left without such payments. However, in the event of the bankruptcy of the company, the owners of ordinary shares have the first ownership rights.

The ratio of risk and profitability in the securities investment market

When purchasing debt securities, the investor expects to receive a stable monthly or annual interest payment. By purchasing bonds with a maturity of 5 years, the investor receives successive payments, averaging a few percent.

Also, it is worth noting that no matter how profitable the investment opportunity may seem, you cannot invest in a single asset. The same applies to the purchase of securities. It is important to qualitatively diversify the investment portfolio, which would correspond to an acceptable level of risk and profit.

In most cases, the process of gaining a controlling stake takes the investor quite a long time.

Construction and real estate investment

At all times, it was no less attractive to invest in construction, as well as the purchase of real estate, in particular:

• acquisition of finished residential premises;
• commercial and industrial buildings.

In conditions Russian legislation, it is acceptable to use loan funds to finance construction.

However, one should always be aware of the possible level of risk, and therefore in without fail it is necessary to calculate all future risks, including the bankruptcy of the contractor.

Losses are possible when investing in already completed construction. In particular, for the downtime of the premises that are assigned for rent.

On the other hand, the real estate market can bring considerable profit in the event of a growing economy, as well as an increase in income and expenses of the population.

Direct investment in production

Another no less interesting and profitable direction is direct investment in production. Today you can find a huge number of options for investing in production, including consolidation own enterprise, and investments in outside production assets.

True, in the second case, there is a considerable possibility that a foreign enterprise will copy products, and thereby create a new competitor in the market.

Efficiency calculations

Calculation of investment efficiency is based on the results of a preliminary audit using financial ratios. Using financial ratios, you can get the following data:

For every kind investment project specialized coefficients of provision with long-term investments are selected. True, before using the multiplier, and certainly before making a decision, it is important to determine the net value of the investment project under study, in which the funds will be invested, or in other words, determine the NPV.

This indicator shows the difference between cash receipts and expenditures adjusted to "today's time". In other words, it shows the amount of funds that an investor can earn from a project after the cash flows have fully recouped its initial costs.

As a rule, if the NVP indicator is more than zero, then you can invest in the project, if the indicator is below zero, then you should refuse investments.

NVP Calculation Example

The amount of investments is 115,000 rubles.

• Investment income for the first year - 32 thousand rubles.
• For the second year - 41 thousand rubles.
• For the third year - 43,750 rubles.
• For the fourth year - 38,250 rubles.

The discount rate is 9.2 percent.

Let's translate future cash flows into current values:

PV1 \u003d 32000 / (1 + 0.092) \u003d 29304.03 rubles.

PV2 \u003d 41000 / (1 + 0.092) 2 \u003d 34382.59 rubles.

PV3 = 43750 / (1 + 0.092)3 = 33597.75 rubles.

PV4 = 38250 / (1 + 0.092)4 = 26899.29 rubles.

Net present value \u003d (29304.03 + 34382.59 + 33597.75 + 26899.29) - 11 5000 \u003d 9183.66 rubles.

Bottom line: NPV is 9183.66 rubles.

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Introduction

The relevance of the topic under consideration lies in the fact that long-term investments and financial investments are the most attractive type of income in our time. At the moment, most of the population is convinced that investing money in securities and long-term investments is not only profitable, but also reliable, as it has a collateral character, which has almost 100% reliability and guarantees the return of funds to the investor. If earlier in the country, foreign exchange savings reached from 60 to 100 billion dollars. This is frozen non-performing money in a stocking. Now more and more people began to invest free financial resources into short-term securities, since they are more profitable than long-term ones, which leads to the gradual development of real production and the revival of the economy as a whole and has a beneficial effect on the development of the stock market.

This term paper is an:

1. Determination of balance sheet items intended to reflect the objects of accounting.

2. Object detection accounting to be reflected in the balance sheet expanded.

3. Determination of accounting objects to be reflected in various balance sheet items, depending on the maturity of obligations.

4. Drawing up a balance sheet (form No. 1).

5. Determining the amount of revenue, cost of sales and commercial expenses.

6. identification of the amount of operating and non-operating income and expenses.

7. setting indicators for deferred income tax.

8. drawing up a profit and loss statement (form No. 2).

These tasks of the course work will be disclosed and reflected on the example of Erida CJSC, where I will describe in detail the activities of this company and try to fully disclose issues related to financial activities this organization. Using the example of Erida CJSC, tables with summary data reflecting the participation of this organization in joint-stock companies ah, business entities, commercial and non-commercial organizations. A balance sheet (Form No. 1) showing the cash flow of CJSC Erida and a profit and loss statement (Form No. 2) will be presented to external users.

Long-term investments and financial investments

The concept of financial investments

Financial investments are investments in authorized capitals, the acquisition of shares, bonds of third parties and government securities, as well as loans provided to other organizations or individuals. Financial investments are divided into long-term and short-term.

Long-term financial investments involve the diversion of the organization's funds for a period of more than one year. These include contributions to the authorized (share) capital of various organizations and the cost of acquiring shares for the purpose of subsequent receipt of income in the form of dividends. Since in the current conditions one cannot hope for high dividends due to the low profitability or even unprofitability of most organizations, long-term financial investments are mainly low-liquid asset items that are unattractive for investors.

Short-term financial investments (for a period of up to one year) represent acquisitions government bonds(GKO), bonds of federal and local loans, shares of various organizations, provided that these shares are listed on the stock exchange, deposits in deposit accounts and the purchase of deposit certificates of commercial banks. Regardless of the period for which organizations make certain financial investments, synthetic account 58 “Financial investments” is used to account for their availability and movement. Sub-accounts are opened for this account to account for certain types of financial investments, for example, 1 - "Shares and shares", 2 - "Debt securities", 3 - "Granted loans", 4 - "Deposits under a simple partnership agreement", etc.

The most common type of long-term financial investments is contributions to the authorized capital of other organizations and commercial banks.

Contributions to the authorized (share) capitals of other organizations may be made in monetary form and in the form of fixed assets, intangible assets, raw materials and supplies, goods and other valuables. If funds are contributed to the authorized capital of a third-party organization by transferring from the current account of the depositor, then this operation is reflected in the accounting accounts as follows:

Dt 58 "Financial investments", sub-account "Shares and shares"

· Kt 51 "Settlement accounts".

There may be cases when the contribution is made in cash (the amount of these amounts is limited regulations). The account entries then look like this:

Dt 58 “Financial investments”, sub-account “Shares and shares”

· Kt 50 "Cashier".

On the territory of Russia there are many organizations with the participation foreign capital. In turn, Russian entrepreneurs create their own or act as shareholders of foreign organizations. In such cases, monetary contributions are made to foreign currency, which is reflected in the accounting records:

Dt 58 "Financial investments", sub-account "Shares and shares"

· Kt 52 "Currency accounts".

When contributions are not cash, but different kinds property of the organization, then the accounting of such contributions has its own characteristics. The transfer of inventory items should be reflected in account 91 “Other income and expenses” as their disposal. For example, the transfer of a separate item of fixed assets is reflected through account 01 "Fixed assets". Contributions to the authorized capital of other organizations are usually valued at contractual cost. Therefore, first on account 01 "Fixed assets" is determined residual value transferred item of property, plant and equipment, i.е. from its initial cost (account 01 "Fixed assets") the amount of depreciation accumulated on it is deducted (account 02 "Depreciation of fixed assets"). Then, in accordance with the principles of Russian accounting, this cost is transferred to account 91 “Other income and expenses”, i.e. is being done accounting entry:

Dt 91 "Other income and expenses"

· Kt 01 "Fixed assets" - at residual value.

When transferring an object of fixed assets as a contribution to the authorized (share) capital of other enterprises, this operation is reflected in the accounting accounts as follows:

Dt 58 "Financial investments", sub-account "Shares and shares"

· Kt 91 "Other income and expenses" - at the contractual cost.

If the contract value exceeds the residual value, then income is formed on account 91 “Other income and expenses”, but if the residual value exceeds the contractual value, then additional expenses organizations.

When accruing income on contributions to the authorized capital of other organizations, it should be borne in mind that income from equity participation are taxed. The tax is withheld at the source of payment of income. The accrual of income is reflected in the accounts as follows:

Dt 76 "Settlements with different debtors and creditors"

· Kt 91 “Other income and expenses”.

Sometimes an organization acquires shares in some other organization that is known to be profitable and stable. As you know, a share is a security that brings income to the owner in the form of dividends, the amount of which depends on the results of the financial and economic activities of the organization for the reporting year.

The costs of acquiring shares, as well as, in principle, other securities, are formed and summarized on account 58 “Financial investments”. All securities must be described in the Securities Book. The securities ledger has the following required details: name of the issuer, nominal value of the security, its purchase price, number, series and others, total quantity, date of purchase, date of sale. The book of accounting for securities must be bound, sealed with the seal of the organization and signed by the head and chief accountant, the pages are numbered.

For a long period of time, shares are acquired with the aim of obtaining long-term permanent income or in order to influence the economic policy of a third-party joint-stock company. To do this, it is necessary to have a controlling stake, i.e. 50% plus one voting share. But in some cases, the organization acquires a block of shares for a period of less than one year. The purpose of such an acquisition is usually to generate income as a result of a profitable sale of a block of shares when their price increases by stock exchange. Here importance has the right choice of the moment of sale, when the rate continues to grow, but the moment of stopping its growth and the beginning of its fall is close.

The acquisition by an organization of securities for a fee is reflected in the accounting accounts as follows:

· Kt 51 "Settlement accounts", 52 "Currency accounts".

If the shares are not fully paid, but the investor has the right to receive dividends, then the shares are due at full amount actual costs. This is done by wiring:

Dt 58 "Financial investments", sub-account "Shares and shares"

Kt 51 "Settlement accounts", 52 "Currency accounts", 50 "Cashier" - for the paid value of shares

· Kt 76 "Settlements with various debtors and creditors" - for the unpaid part of the value of shares.

Instead of cash, an organization can transfer fixed assets as payment for shares, intangible assets and other commodity-material values. The procedure for reflecting their transfer in accounting is similar to reflecting the transfer of property on account of contributions to the authorized capital of another organization.

The purpose of acquiring shares is to receive income in the form of dividends. But there are times when an organization becomes unprofitable and dividends are paid only on preferred shares at the expense of specially created reserves. There can no longer be any payments for ordinary shares. Therefore, dividends from year to year can differ significantly in their value depending on the amount of profit received, as well as on decisions on its distribution in order to form a reserve and special funds. The amount of dividends paid is approved by general meeting shareholders, after which they are paid to the shareholders. At the same time, income tax is withheld from the source of payments (i.e., the joint-stock company that has received profit from which dividends are paid). Dividends can be paid once a year, once every six months or quarterly. Since the final amount of profit allocated to the payment of dividends becomes known only at the end of the year, interim dividend payments are made at the estimated amount with subsequent adjustment.

Financial investments- this is the placement of the organization's free cash in other enterprises through the acquisition of securities, the issuance of long-term loans, and contributions to authorized capital. Distinguish between long-term and short-term investments. Short-term recognize those assets, the circulation or maturity of which does not exceed 12 months, long-term - financial investments with a period of more than one year. When accounting for financial investments, one should be guided by the Accounting Regulation "Accounting for Financial Investments" PBU 19/02 (approved by Order of the Ministry of Finance of Russia dated 10.12.2002 N 126n; hereinafter - PBU 19/02).
According to paragraph 3 of PBU 19/02, financial investments include:
- securities (state, municipal, other organizations), including debt securities, in which the date and cost of redemption are determined (bonds, bills of exchange);
- contributions to the authorized (share) capital of other organizations (including subsidiaries and affiliates);
- loans granted to other organizations;
- deposits in credit institutions;
- contributions of a partner organization under a simple partnership agreement.
To summarize information on the presence and movement of investments of an organization in government securities, shares, bonds and other securities of other organizations, authorized (reserve) capitals of other organizations, as well as loans provided to other organizations, account 58 "Financial investments" is intended.
TO account 58 sub-accounts can be opened:
- "Shares and shares";
- "Debt securities";
- "Granted loans";
- "Contributions under a simple partnership agreement."
Not considered financial investments of the organization:
- own shares redeemed by a joint-stock company from shareholders for subsequent resale or cancellation;
- promissory notes issued by the drawer organization to the seller organization in settlements for goods sold, products, work performed, services rendered;
- investments of the organization in real estate and other property having a tangible form, provided by the organization for a fee for temporary use (temporary possession and use) in order to generate income;
- precious metals, jewelry, works of art and other similar valuables acquired not for common species activities.
It is important to emphasize that the assets having a tangible form, such as fixed assets, inventories, as well as intangible assets are not financial investments, but when they are made as a contribution to authorized capital or under a simple partnership agreement they will be treated as financial investments.
Requirements for assets to be recognized as financial investments:
- the organization must have documents confirming its right to a financial investment (for loans - an agreement; for promissory notes issued by third parties - a bill; for shares or bonds - the shares themselves, bonds or a certificate for them, an extract from the register; for deposits in banks - an agreement; for contributions to authorized capital - the charter of the company that received this contribution);
- transition to the organization of financial risks associated with these investments;
- the ability to generate income in the future (interest, dividends, the difference between the purchase and sale prices).
at initial cost, which consists of the amount of the organization's actual costs for their acquisition, with the exception of value added tax and other refundable taxes (except as provided by law Russian Federation about taxes and fees).
According to paragraph 9 of PBU 19/02, such expenses include:
- amounts paid in accordance with the contract to the seller;
- amounts paid to organizations and other persons for information and consulting services related to the acquisition of these assets (if such information or consulting services are provided, but the organization does not make a decision on such an acquisition, the cost of services is charged to financial results commercial organization as part of other expenses or to increase expenses non-profit organization of the reporting period when it was decided not to purchase financial investments);
- remuneration paid to intermediaries through which investments are acquired;
- other costs directly related to the acquisition of assets as financial investments.
If the additional costs of acquiring securities are insignificant compared to the amount paid to the seller, then they can be accounted for as other expenses in the reporting period when the securities were credited.
Since PBU 19/02 does not contain a definition of the materiality of the costs of purchasing securities, we can take as a basis general rule, for which an indicator less than 5% of a particular amount is not considered significant, but this must be reflected in accounting policy enterprises.
Shares, as one of the types of financial investments, can be acquired by an organization in the following ways:
- for a fee;
- received as a contribution to the authorized capital;
- free of charge;
- by barter.
A share is an issuance security that secures the rights of its owner (shareholder) to receive part of the profit of the joint-stock company in the form of dividends, to participate in the management of the joint-stock company and to part of the property remaining after its liquidation. Typically, a share is a registered security.
When receiving securities for a fee, their value is the sum of all purchase costs. The contractual value of securities can be expressed not only in rubles, but also in foreign currency, which is converted into rubles on the day the costs of their purchase are reflected. Positive exchange differences arising after payment are reflected in other income, negative - in other expenses. They do not affect the initial value of the shares.
Recalculation of the value of banknotes at the cash desk of the organization, funds in bank accounts (bank deposits), cash and payment documents, securities (except for shares), funds in settlements, including for loan obligations with legal entities and individuals (with the exception of funds received and issued advances and advance payments, deposits) denominated in foreign currency into rubles must be made on the date of the transaction in foreign currency, as well as on the reporting date.
The initial cost of financial investments made as a contribution to the authorized (share) capital of an organization is their monetary value, agreed by the founders (participants) of the organization, unless otherwise provided by the legislation of the Russian Federation. In some cases, an independent appraiser must be involved to assess the value of financial investments. In limited liability companies, this is necessary if the value of shares contributed to the authorized capital exceeds 20,000 rubles. (art. 15 federal law dated 08.02.1998 N 14-FZ "On Limited Liability Companies").
Accounting loans as one of the types of financial investments has its own characteristics. Let's dwell on some of them.
The organization has the right to issue a loan to another enterprise or individual. Such transactions are made in writing - a loan agreement. The interest that the recipient must pay for the right to use the loan is usually specified in the contract. If there is no such condition in it, then they are calculated based on the refinancing rate in force at the time of repayment of the loan.
If an organization issues interest-free loan, then it is not taken into account as part of financial investments, since one of the criteria for recognizing financial investments is the receipt of income (in the form of interest on the use of a loan). Lines 230 (long-term receivables) or 240 (short-term receivables) are intended for such loans.
The loan can be issued both in non-cash and in cash form. When carrying out an operation for the issuance or return of cash loans cash register equipment do not need to be used, since in this case the sale of goods, works or services does not occur. When issuing cash loans, one should be guided by the Letter of the Bank of Russia dated 04.12.2007 N 190-T, which explains that legal entities and individual entrepreneurs shall not be entitled to spend cash received by their cash desks for goods sold by them, work performed by them, services rendered by them, as well as as insurance premiums for granting loans. Cash funds received at the cash desks of enterprises are subject to delivery to banking institutions for subsequent crediting to the accounts of these enterprises.

Example 1 . The organization issued a loan in the amount of 500,000 rubles to its employee. In order to ensure the repayment of the issued loan, a car pledge agreement was concluded (the value of the pledged property by agreement of the parties is 1,000,000 rubles) and a guarantee agreement, under the terms of which the guarantor undertakes to be jointly and severally liable with the borrower to the lender. The question arises, what amount should be reflected on the off-balance account 008 "Securities for obligations and payments received" for each of the contracts.
This account is intended to summarize information on the availability and movement of received guarantees to ensure the fulfillment of obligations and payments, as well as guarantees received for goods transferred to other organizations (persons).
According to Art. 329 Civil Code Russian Federation (CC RF), the fulfillment of obligations may be secured by a penalty, pledge, retention of the debtor's property, surety, bank guarantee, deposit and in other ways provided by law or contract.
Analytical accounting for account 008 conducted for each collateral received.
Since the car is pledged to the organization until the loan agreement is repaid, the contractual value of this car must be reflected on account 008 in the amount of 1,000,000 rubles.
With regard to the contract of agency, the following should be noted. The essence of the legal mechanism for securing the performance of obligations is to give the creditor, in addition to the basic rights under the secured obligation additional rights, which he can use in case of violation by the debtor of the obligation. Establishment Agreement certain way ensuring the fulfillment of obligations under general rule gives rise to an additional obligation designed to ensure the fulfillment of the main obligation. In the example under consideration, the guarantee agreement was concluded in order to ensure the return of the issued loan in the amount of 500,000 rubles. This means that account 008 should reflect the amount corresponding to the amount of obligations under the loan agreement. As a result, on this off-balance account, under a pledge agreement, it is necessary to reflect the contractual value of the pledged car in the amount of 1,000,000 rubles, and under the agency agreement - in the amount of 500,000 rubles.

In other words, all settlements are carried out on balance accounts, and entries on account 008 are purely control in nature and are written off as the debt is repaid.
In addition to accounting, the company maintains tax accounting. In accordance with paragraphs. 10 p. 1 art. 251 tax code RF (TC RF) when determining tax base does not take into account income in the form of funds or other property received under credit or loan agreements (other similar funds or other property regardless of the method of borrowing, including securities for debt obligations), as well as funds or other property received as repayment these borrowings. That is, income in the form of funds received in repayment of previously issued loans does not need to be taken into account by the lender organization in income for the purposes of taxing the profits of organizations.
However, it should be borne in mind that according to paragraph 6 of Art. 250 of the Tax Code of the Russian Federation, income in the form of interest received under loan, credit, bank account agreements, bank deposit, as well as by securities and other debt obligations are recognized as non-operating income of the taxpayer (the specifics for determining bank income in the form of interest are established by Article 290 of the Tax Code of the Russian Federation). Thus, income in the form of interest received on previously issued loans to the borrowing organization is recognized as income of the organization-lender for the purposes of taxing the profits of organizations.
As mentioned above, a loan can be issued in non-cash or cash form, as well as in kind (for example, goods or materials). First of all, it is necessary to reflect the disposal of this type of loan, since Art. 39 of the Tax Code of the Russian Federation establishes that the transfer of property rights to them by one person to another on a reimbursable basis is recognized as the sale of goods, i.e. ownership passes from the lender to the borrower. In this regard, it is logical to assume that the transfer of property to the borrower should be subject to income tax and VAT from the lender as a sale operation. After the return of the loan, operations are carried out to capitalize the received property. The amount of "input" VAT can be deducted by the organization in the usual way.
Under contract commodity credit the lender transfers to the borrower the ownership of things defined by generic characteristics, and the borrower undertakes to return to the lender an equal amount of other things of the same kind and quality and pay interest. In this case, interest can be expressed both in cash and in kind. In order to avoid claims from regulatory authorities regarding fees for services rendered, we recommend that the procedure for calculating and paying interest be prescribed in the contract, since this follows from Art. Art. 819 and 822 of the Civil Code of the Russian Federation. In the absence of such information, the interest on the loan is calculated based on the refinancing rate of the Bank of Russia that was in effect on the day the debtor repaid the commodity loan or its corresponding part.

Example 2 . The organization issued a long-term loan to another organization in goods worth 4,720,000 rubles according to the contract. (including VAT - 720,000 rubles). The cost of goods is 4,000,000 rubles. The loan was issued at 20% per annum. Interest is calculated for each day the loan is used. They are paid no later than the end of each quarter.
Loan transactions are recorded in the following entries:
Debit 76 "Settlements with various debtors and creditors" Credit 90 "Sales", subaccount 1 "Revenue", - revenue from the sale of goods is reflected - 4,720,000 rubles;
Debit 90, subaccount 2 "Cost of sales", Credit 68 "Calculations on taxes and fees" - VAT charged - 720,000 rubles;
Debit 90, subaccount 3 "Value Added Tax", Credit 41 "Goods" - the cost of goods transferred on loan was written off - 4,000,000 rubles;
Debit 58 Credit 76 - the loan amount is reflected - 4,720,000 rubles;
Debit 76 Credit 91 "Other income and expenses", sub-account 1 "Other income", - interest accrued for January - 80,175 rubles. (4,720,000 x 20% : 365 days x 31 days);
Debit 76 Credit 91, sub-account 1 "Other income", - interest accrued for February - 72,416 rubles. (4,720,000 x 20% : 365 days x 281 days);
Debit 76 Credit 91, sub-account 1 "Other income", - interest accrued for March - 80,175 rubles. (4,720,000 x 20% : 365 days x 31 days);
Debit 51 "Settlement accounts" Credit 76, - interest for the I quarter was transferred - 232,766 rubles. (80 175 + 72 416 + 80 175).
Interest is calculated in a similar manner. When repaying a loan, the following entries must be made:
Debit 19 "Value added tax on acquired valuables" Credit 76, - VAT on returned goods is taken into account - 720,000 rubles;
Debit 41 Credit 76, - returned goods are credited - 4,000,000 rubles. (4,720,000 - 720,000);
Debit 68 Credit 19, - accepted for deduction of VAT on returned goods - 720,000 rubles;
Debit 76 Credit 58, - the amount of the repaid loan was written off - 4,720,000 rubles.

The funds of the enterprise, credited to the deposits of banks, are reflected in the composition of financial investments.
Bank deposit means money or securities deposited with a bank for a specific period on behalf of an individual or legal entity, which is charged a certain percentage for this.
Under a bank deposit (deposit) agreement, one party (bank), which has accepted the amount of money (deposit) received from the other party (depositor) or received for it, undertakes to return the deposit amount and pay interest on it on the terms and in the manner prescribed by the agreement (p. 1 article 834 of the Civil Code of the Russian Federation).
The company accrues interest on the deposit on the day when it has the right to receive it, based on the terms of the agreement, i.e. in accounting, interest is calculated regardless of whether the bank transferred interest to the organization's account or not.
In practice, a situation is possible when an organization put money on a bank deposit in November 2010. According to the agreement, accrual and payment of income (interest) will be made at the end of the deposit term in 2011.
According to paragraph 6 of Art. 271 of the Tax Code of the Russian Federation, under loan agreements and other similar agreements, the validity of which falls on more than one reporting period, income is recognized as received and included in income at the end of the corresponding reporting period. Thus, if a bank deposit agreement is concluded for a period of more than one reporting period, the depositor organization is obliged to accrue interest at the end of each reporting period, regardless of the actual receipt of money and the terms of the deposit agreement (if the organization keeps records of income and expenses for tax purposes on an accrual basis) . Therefore, taxable income (interest on bank deposit) will also arise in 2010 based on the amounts to be received, calculated on the basis of the actual number of days the deposit was placed in this period.
Recall that incomes are recognized in the reporting (tax) period in which they occurred, regardless of the actual receipt of funds, other property (works, services) and (or) property rights(accrual method). For income relating to several reporting (tax) periods, and if the relationship between income and expenses cannot be clearly determined or is established indirectly, income is distributed by the taxpayer independently, taking into account the principle of uniform recognition of income and expenses.
As part of financial investments reflect the cost of bills received by the organization from other persons. bill of exchange represents a security and can be used as a financial instrument to earn interest or discount income.
In accounting, a promissory note purchased for a fee is accounted for as part of financial investments at initial cost in the amount of actual acquisition costs (clauses 8, 9 PBU 19/02). Income on promissory notes can be interest or discount. Discount income is the difference between the purchase price of a bill and the amount received upon redemption (face value).
The bill must contain the following mandatory details:
- the name "bill" included in the text of the document and expressed in the language in which this document is drawn up;
- a simple and unconditional offer (promise) to pay a certain amount;
- name of the payer (only in a bill of exchange);
- payment term;
- the place where the payment is to be made;
- the name of the person to whom or by whose order the payment is to be made;
- date and place of drawing up the bill;
- Signature of the drawer.
In the absence of the listed details in the text of the bill, it loses its bill of exchange force and can be recognized as a document of another legal form- IOU.
Realization of property rights under a bill of exchange, as well as under any other security, is possible only by presenting it.
As a rule, income on a bill is recognized at the time of its redemption.
But at the same time, paragraph 22 of PBU 19/02 clarifies that for debt securities for which the current market value is not calculated, the organization is allowed the difference between the initial cost and the nominal value during the period of their circulation evenly as due on them in accordance with the terms of release of income, to attribute to the financial results of a commercial organization (as part of other income or expenses) or a decrease or increase in the expenses of a non-profit organization. A similar procedure for reflecting income is fixed as an element of the accounting reporting policy.

Example 3 . The company purchased a bill for 1,000,000 rubles. Its nominal value is 1,300,000 rubles, the maturity of the bill is 24 months. If accounting policy the organization provides for the reflection of income on bills at the time of their repayment, the following entries are made in the accounting:

Debit 91, sub-account 2 "Other expenses", Credit 58 - the bill is presented for redemption - 1,000,000 rubles;
Debit 76 Credit 91, sub-account 1 "Other income", - reflects the debt on repayment of the bill - 1,300,000 rubles;
Debit 91, subaccount 9 "Profit / loss from sales", Credit 99 "Profit and loss", - income (discount) on the bill is reflected - 300,000 rubles. (1,300,000 - 1,000,000);
Debit 51 Credit 76 - funds received to pay off the bill - 1,300,000 rubles.
If the accounting policy provides for the reflection of income on bills evenly during the period of their circulation, then the following entries are made:
Debit 58 Credit 51 - a financial bill was purchased - 1,000,000 rubles;
Debit 76 Credit 91, subaccount 1 "Other income", - accrued income for the 1st month of circulation of the bill - 12,500 rubles. [(1,300,000 - 1,000,000) : 24 months];
Debit 76 Credit 91, subaccount 1 "Other income", - accrued income for the 2nd month of circulation of the bill - 12,500 rubles. [(1,300,000 - 1,000,000) : 24 months];
Debit 76 Credit 91, subaccount 1 "Other income", - accrued income for the 3rd month of circulation of the bill - 12,500 rubles. [(1,300,000 - 1,000,000) : 24 months] etc.
The repayment of the bill is made out by records:
Debit 91, subaccount 2 "Other expenses", Credit 58 - the initial cost of the bill was written off - 1,000,000 rubles;
Debit 76 Credit 91, sub-account 1 "Other income", - reflects the cost of the bill presented for redemption - 1,000,000 rubles;
Debit 51 Credit 76 - reflected the income received (discount) on the bill - 300,000 rubles.

The transfer of ownership of the bill is confirmed by an act of acceptance and transfer, which must contain the mandatory details listed in paragraph 2 of Art. 9 of the Federal Law of November 21, 1996 N 129-FZ "On Accounting". In addition, it is necessary to indicate in it: details of the bill (series, number, date of issue, type (simple or transferable), face value, due date, etc.); details of the contract under which the bill was transferred. It makes sense to attach a copy of the bill to the act.
To account for financial investments, they are divided into two categories:
- for which the current market value is not determined (in this case, financial investments are indicated in the balance sheet at their original cost);
- according to which the current market value is determined, i.e. listed on the organized securities market.
In the second category, they are reflected in the balance sheet at the market price that was formed at the end of the reporting period. The difference between the initial and current estimates is included in other income or expenses. The organization has the right to adjust the value of securities on a monthly or quarterly basis (paragraph 20 of PBU 19/02). The selected period should be reflected in the accounting policy of the organization for accounting.
According to paragraph 3 of Art. 280 of the Tax Code of the Russian Federation, securities are recognized as circulating on the organized securities market only if the following conditions are simultaneously met:
- if they are admitted to circulation by at least one trade organizer who has the right to do so in accordance with national legislation;
- if information about their prices (quotations) is published in the mass media (including electronic ones) or can be provided by the trade organizer or other authorized person to any interested person within three years after the date of transactions with securities;
- if a market quotation was calculated for them during the last three months preceding the date of the taxpayer's transaction with these securities, when it is provided for by law.

Example 4 . In May, the investor enterprise purchased securities, for which, in accordance with the established procedure, their market value can be determined, in the amount of 1,000,000 rubles. The accounting policy of the organization states that the adjustment of such financial investments should be carried out quarterly.
According to officially published data (quotations of the stock exchange), the value of these securities amounted to: as of May 31 - 990,000 rubles; as of December 31 - 1,008,000 rubles.
In accounting, the above operations should be reflected in the entries:
Debit 60 "Settlements with suppliers and contractors" Credit 51 - payment for securities to the seller - 1,000,000 rubles;
Debit 58 Credit 60 - securities were capitalized (in May) - 1,000,000 rubles;
Debit 91, sub-account 2 "Other expenses", Credit 58 - reflects the adjustment (revaluation) of securities as of May 31 - 10,000 rubles. (1,000,000 - 990,000);
Debit 58 Credit 91, sub-account 1 "Other income", - reflects the adjustment (revaluation) of securities as of December 31 - 18,000 rubles. (1,008,000 - 990,000).
Thus, in the financial statements at the end of the year, the value of securities will be fixed in the amount of 1,008,000 rubles. (1,000,000 - 10,000 + 18,000).

In the event that the current value of the financial investment object, previously valued at the current market value, is not determined on the reporting date (for example, these shares are no longer listed on the stock exchange), this financial investment object is reflected in the financial statements at the cost of its last assessment (clause 24 PBU 19/02). In the future, no adjustment of its value is made, since it automatically falls into the first category of financial investments.
simple partnership agreement(agreement on joint activities) is increasingly used in the field of entrepreneurial activity. It allows you to combine the activities of several business entities, as well as individuals to engage in one general view activities without forming a legal entity.
The concept, content of a simple partnership agreement, the rights, obligations and responsibilities of the parties under this agreement Ch. 55 of the Civil Code of the Russian Federation. Under this agreement, the partners combine their contributions in order to act together for profit or to achieve another goal that does not contradict the law.
In the agreement, the partners must indicate what activities they will jointly engage in, since the hallmark of the joint activity agreement is that all participants have a common goal, for which the partnership is created. If the goal is commercial, then only organizations and individual entrepreneurs can participate in the partnership. But individuals who are not registered as PBOYuL cannot become comrades.
The contribution of a friend is recognized as everything that he contributes to a common cause, including money, other property, professional and other knowledge, skills and abilities, as well as business reputation and business connections (Article 1042 of the Civil Code of the Russian Federation). Thus, the parties have the right to independently assess the professional skills and business connections of a friend, allowing him, for example, to receive a large loan for joint purposes. Professional and other skills, abilities, etc. quite difficult to document. This simple partnership agreement is significantly different from all other contributions.
The partners' contributions are assumed to be equal in value, unless otherwise follows from the simple partnership agreement or actual circumstances. The monetary value of a partner's contribution is made by agreement between the partners.
The initial cost of financial investments made to the account of the contribution of a partner organization under a simple partnership agreement is their monetary value agreed by the partners in the agreement (clause 15 PBU 19/02).
Financial investments are accepted for accounting by a comrade who is entrusted with the duty of conducting common affairs.
For example, by a simple partnership agreement, the conduct of common affairs is entrusted to the organization. As a contribution to the authorized capital of the partnership, it accepts shares circulating on the organized securities market, the value of which under the agreement is 1,000,000 rubles.
In the separate accounting of a simple partnership, this operation is reflected in the entry:
Debit 58 Credit 80 "Authorized capital" - shares received in evaluation under a simple partnership agreement - 1,000,000 rubles.
PBU 19/02 introduced the concept of " impairment of financial investments". It applies only to financial investments for which the market value is not determined. Impairment is understood as a steady decline in value below the amount of economic benefits that the organization expects to receive from these financial investments in the normal conditions of its activities (clause 37 PBU 19/02).
In order to recognize that investments are depreciating, the following conditions must be simultaneously present:
- as of the reporting date and the previous reporting date, the book value is significantly higher than their estimated value;
- during the reporting year, the estimated value of financial investments changed significantly only in the direction of its decrease;
- as of the reporting date, there is no evidence that a significant increase in the estimated value of these financial investments is possible in the future.
Impairment of financial investments can occur in the following situations:
- the emergence of signs of bankruptcy in the issuing organization of securities owned by the organization or its debtor under a loan agreement or declaring it bankrupt;
- making a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value;
- absence or significant decrease in income from financial investments in the form of interest or dividends when high probability further reduction of these revenues in the future, etc.
When such trends occur, the organization should conduct a test to determine the existence of conditions for a sustainable decrease in the value of financial investments. If the audit confirms a decrease in value, the organization creates a reserve for the depreciation of financial investments (account 59). commercial organization forms a reserve due to financial results (as part of operating expenses), and non-commercial - due to increased costs.
Checking for depreciation of financial investments is carried out at least once a year as of December 31 of the reporting year if there are signs of depreciation. The organization has the right to carry out the specified check on reporting dates interim financial statements.
By credit account 59 the creation of reserves is reflected, on the debit - its use. The balance shows the balance of reserves at the end of the reporting period. This account acts as a regulator to account 58 and serves as a financial source for covering losses due to the possible sale of unquoted financial investments at a price less than their book value.
The reserve is created on December 31 of each reporting year (or by decision of the organization on a quarterly basis on the reporting dates of the interim financial statements), which is reflected in the entry:
Debit 91, sub-account 2 "Other expenses", Credit 59 - reserves for the depreciation of investments in unquoted financial investments have been created.
A change in the amount of the reserve (adjustment) for the depreciation of investments in unquoted financial investments occurs in the event of a further change in their estimated value at the end of the reporting period:
Debit 91, sub-account 2 "Other expenses", Credit 59 - the amount of the reserve for depreciation of investments in unquoted financial investments has been increased;
Debit 59 Credit 91, sub-account 1 "Other income", - the amount of the reserve for depreciation of investments in unquoted financial investments has been reduced.

Example 5. An organization purchased 3,000 shares at a price of 500 rubles. a piece. The accounting policy determines that a decrease in the value of financial investments is recognized as significant if the difference between the book value and estimated value of securities exceeds 5%.
The following is recorded in the accounting records:
Debit 58 Credit 60 - securities were capitalized - 1,500,000 rubles. (500 rubles x 3000 pcs.).
According to an independent appraiser, the estimated value of the securities is 430 rubles. a piece. The decrease is 14%.
The decline in value is significant and the entity creates a provision for share impairment. The amount of the reserve will be 210,000 rubles. [(500 RUB - 430 RUB) x 3000 pieces].
This operation is reflected in the entry:
Debit 91, sub-account 2 "Other expenses", Credit 59 - a reserve for depreciation of shares has been created - 210,000 rubles.
At the end of the reporting period, the shares in the balance sheet are recorded at their original cost less the provision. Their cost will be 1,290,000 rubles. (1,500,000 - 210,000).
The reserve is written off to financial results (as part of operating income) in two cases:
- upon sale or other disposal of financial investments for which the reserve was created;
- if there is no further sustainable significant reduction in the value of these investments.
The reserve is written off at the end of the year or the reporting period in which these financial investments were disposed of:
Debit 59 Credit 91, sub-account 1 "Other income" - the reserve for the depreciation of financial investments was written off in connection with their disposal.

For non-professional participants in the securities market, the amounts of deductions to the reserve for the depreciation of investments in securities are not included in expenses when determining the tax base for income tax (clause 10, article 270 of the Tax Code of the Russian Federation). The amounts of restored reserves are also not taken into account (clause 25 clause 1 article 251 of the Tax Code of the Russian Federation).
Data on reserves for depreciation of financial investments, indicating the type of financial investments, the amount of the reserve created in reporting year, the amount of the reserve recognized as operating income of the reporting period; the amount of the reserve used in the reporting year should be set out in explanatory note To balance sheet organization, based on the requirement of materiality.
Over time, financial investments may retire. The disposal of securities takes place in cases of redemption, sale, gratuitous transfer, transfer in the form of a contribution to the authorized (share) capital of other organizations, transfer on account of a contribution under a simple partnership agreement, etc. (clause 25 PBU 19/02). The date of disposal of investments is determined at the moment when the right of ownership is transferred to the new owner of financial investments, financial risks related to financial investments (price change risk, debtor's insolvency risk, liquidity risk, etc.).
In such situations, they are written off in one of the ways regulated by PBU 19/02:
1) at the initial cost of each unit;
2) at the average initial cost;
3) at the initial cost of the first acquisition time (FIFO).
The first method, as a rule, is used in relation to contributions to authorized capital, loans, deposits in banks accounts receivable acquired on the basis of the assignment of the right to claim. With regard to securities (shares, bonds, bills), the second or third method can be used.
The procedure for determining the cost of retiring financial investments differs for "quoted" and "unquoted" financial investments. If financial investments for which the current market value is calculated are retired, then their value is calculated by the organization based on the latest assessment (paragraph 30 of PBU 19/02).
The choice of one of these methods is allowed for each group (type) of financial investments and must be fixed in the accounting policy as its element (clause 26 PBU 19/02).
When using the second method (provided that it is impossible to determine the current market value of securities), the average value of a security is calculated by the formula:

Average value of a security = (Value of securities at the beginning of the month + Value of securities received during the month) / (Number of securities at the beginning of the month + Number of securities received at the end of the month).

Cost of retired securities to be written off:

Value of securities retired = Average value of a security x Number of securities retired during the month.

The value of the balance of securities at the end of the month:

Value of Securities Remaining = Average Value of Security x Number of Securities Remaining at the End of the Month

Value of the remaining securities = Value of securities at the beginning of the month + Value of securities received during the month - Value of retired securities.

Similar calculations are made at the end of each month. It is allowed to conduct them within a month for each date of disposal of financial investments (method of moving average initial cost).
A rolling estimate makes it possible to use it for each date of transactions, which is very convenient for computer processing of information in accounting programs.
It should be borne in mind that the average initial cost of securities is determined in relation to the same type (shares, bonds, bills).

Example 6 . One of the non-core activities of the organization is the purchase and sale of securities. According to the accounting policy, shares are written off at the average initial cost.
At the beginning of the month, there were 100 shares of one issuer on the balance sheet. The share price was 900 rubles. a piece. During the month, the company acquired shares of the same issuer. They were bought in three batches:
1st batch - 150 pcs. at a price of 1000 rubles / piece;
2nd batch - 130 pcs. at a price of 1100 rubles / piece;
3rd batch - 250 pcs. at a price of 1200 rubles / piece.
Operations for their acquisition are reflected
thus:
Debit 58 Credit 60 - the 1st batch of shares was acquired - 150,000 rubles. (1000 rubles x 150 pieces);
Debit 58 Credit 60 - the 2nd batch of shares was acquired - 143,000 rubles. (1100 rubles x 130 pieces);
Debit 58 Credit 60 - the 3rd batch of shares was acquired - 300,000 rubles. (1200 rubles x 250 pcs.).
In the same month, 500 shares were sold. The average initial value of a share, calculated at the end of the month, will be:
(900 rubles x 100 pcs + 1000 rubles x 150 pcs + 1100 rubles x 130 pcs + 1200 rubles x 250 pcs) / (100 + 150 + 130 + 250) = 1084.13 rubles
The value of shares retired during the month is:
RUB 1084.13 x 500 = 542,065 rubles
The write-off of securities is recorded as follows:
Debit 91, sub-account 2 "Other expenses", Credit 58 - the value of the shares sold was written off - 542,065 rubles.
At the end of the month, the company's number of shares will be:
100 + 150 + 130 + 250 - 500 = 130 pieces;
share price:
(900 rubles x 100 pcs + 1000 rubles x 150 pcs + 1100 rubles x 130 pcs + 1200 rubles x 250 pcs) - 542,065 rubles. = 140,935 rubles.

Valuation of securities with the method FIFO is based on the assumption that securities are sold during the month in the sequence of their receipt (acquisition), i.e. the first securities to be sold must be valued at the initial cost of the first in terms of the time of purchase, taking into account the value of the securities listed at the beginning of the month. When applying this method, the assessment of securities remaining at the end of the month is made at the actual cost of the latest in terms of the time of acquisition, and the cost of the sale (disposal) of securities takes into account the value of the earliest in time of acquisition. This means that when using the third method, first those securities that are listed in the balances are written off, then those that entered the organization first. If they are not enough - those who arrived second, if they are not enough - third, etc.
According to the conditions of the above example, if the company uses the FIFO method, then in this case the following are written off:
- all shares that are registered at the beginning of the month (100 pcs.);
- all shares received in the 1st batch (150 pieces);
- all shares received in the 2nd batch (130 pcs.);
- part of the shares received in the 3rd batch (120 pcs.).
Total 500 shares (100 +150 +130 + 120).
At the end of the month, the enterprise will have shares from the 3rd batch in the amount of 130 pieces. (250 - 120) at a price of 1200 rubles. a piece.
The cost of the written-off shares will be 527,000 rubles. (900 rubles x 100 pcs + 1000 rubles x 150 pcs + 1100 rubles x 130 pcs + 1200 rubles x 120 pcs).
Their write-off is reflected in the entry:
Debit 91, sub-account 2 "Other expenses", Credit 58 - the cost of the shares sold was written off - 527,000 rubles.
The value of the shares remaining at the end of the month will be 156,000 rubles. (1200 rubles x 130 pcs.).
In paragraph 9 of Art. 280 of the Tax Code of the Russian Federation, it is clarified that when selling or otherwise disposing of securities, the taxpayer independently, in accordance with the accounting policy adopted for tax purposes, chooses one of the following methods of writing off the value of retired securities as expenses:
- at the cost of the first time acquisitions (FIFO);
- per unit cost.
These methods apply to securities, both traded and not traded on the organized securities market.
The FIFO method is applied to securities that are comparable in terms of type, terms of circulation and type of income, i.e. one market quotation (the weighted average price of securities) is applicable to them.
Write-off method in tax expenses the value of the securities disposed of at unit cost is applied if the entity can accurately identify the securities being sold, or if they have individually defined characteristics, or the accounting system and terms of the transaction allow the entity to determine which particular securities it holds are being sold, and it can determine the value of these securities.
The selected method is fixed in tax accounting policy.

Long term investment- one of the most popular and sought-after types among all modern investments. What investments can be classified as long-term?

According to financial and economic terminology, all investments can be divided into short-term and long-term. Long-term investments include the most different types investments for a period of 1-3 years or more, for short-term - all types of investments for a period of less than 1 year. years. Thus, the division is based on the length of the investment period. Sometimes a third type of investment is distinguished - medium-term, which includes investments for a period of 1 to 3 years. But most experts, for a more convenient perception, refer them to long-term investments. Long term investments can be represented different types investments: securities, stocks, real estate and so on. If securities are purchased for subsequent sale within a short period of time, several months or a year, then, according to the definition, they cannot be classified as long-term.

As already mentioned, the term of long-term investments is from 3 to 5 years, however, for some financial investments, this period starts from 1 year. Sometimes this period exceeds the period of 5 years, since some types of investments have a high degree of stability, despite changes financial market or changes in the economic situation.

There is an additional division of long-term investments, which is based on the types of investments: long-term financial investments and long-term real investments.

Long-term financial investments include any investment in securities, stocks and similar investment instruments for a period of more than a year.

Long-term real investments is an investment in real estate land, equipment, materials, developments, rights, business and similar assets.

Real investment in many cases involves investing in production processes enterprise or business: the purchase of new equipment, real estate, materials or intermediate products. For many real estate objects, equipment, in most cases, subsequent sale at a higher cost is impossible due to wear and tear and defects during operation.

Investments in construction can also be classified as long-term investments. In most cases, such investments pay off very quickly, but the initial costs are quite high. Pitfalls and problematic objects are rare, but in order for investments not to exceed profit, accurate calculations and consideration of all possible situations, including risks and force majeure, are necessary.

The income that long-term financial investments provide is permanent. That is, the investor receives a small stable profit during the entire investment period. At the end of this period, investment objects can be sold and also bring additional income due to the increase in its initial value. But it is not required condition. Everyone who invests in long-term investments, as a rule, does not expect quick profits over a short period of time, as they do with short term investments. The increased interest in this type of investment is due to a stable income over a fairly long period of time. Regular profit may not be too high, but it is permanent, and as an additional plus, the investment object can be subsequently sold at prices higher than purchased. For example, when buying residential real estate, it is possible to rent out the area for a long time, and then sell it on secondary market real estate. The price of such an object can grow significantly over time, and this gives the investor-seller additional profit. In the same way, the price for shares, units and other securities can be increased.

2. Calculation of the effectiveness of long-term investments in securities.

The main difficulty of such calculations is the lack of accurate information about possible market changes, the emergence of new situations, the introduction of revolutionary scientific developments and other changes can lead to the formation of completely new prices or dividends from selected investment instruments.

Therefore, when planning to invest in one or another long-term investment instrument, the investor makes an approximate calculation of the effectiveness of his investments, taking into account the current situation in the financial and investment market and its possible, expected development. All calculations are simplified as much as possible.

Consider the calculation of efficiency when investing in securities and stocks. To begin with, it is necessary to determine the undervaluation of stock assets in circulation, while comparing the estimated and official market value. In most cases, the estimated value is taken as the value of shares or other securities that can be obtained upon liquidation of the issuing enterprise. That is, it is based on the price for which assets can be sold: shares and other securities without deducting the costs of liquidating the enterprise and the premium on the cost of selling a controlling stake. Thus, the price of all assets is equal to total cost, for which you can sell the entire controlling stake of securities (shares) of this company or enterprise. In turn, the price of all the company's assets is the amount that can be obtained by selling all the assets without taking into account the cost of liabilities. The result of the calculations is divided by the total number of issued shares and thus the liquidation value is found.

Then, the liquidation value obtained, thanks to the calculations, is compared with the market value of such shares on the stock exchange and, based on the comparison, an appropriate conclusion is made. At the same time, the quotation of a share on the stock exchange is a mandatory condition for comparison. If the liquidation value exceeds the market price for a share of this company on the stock exchange, then the investment can be considered undervalued and therefore suitable for long-term investments.

Of course, in addition to an approximate calculation of the undervaluation of shares on the stock exchange, it is necessary to take into account the competitiveness of the products or services of a given company or enterprise, the prospects and expected development of the market in a given area of ​​production or business.

3. Criteria for evaluating shares and securities.

For long-term investment in any securities: stocks, bills, bonds and other types, a preliminary assessment is required. In general, the valuation of the acquired security is the determination or calculation of the value of the share of the corresponding valued security (share) in a given enterprise or business.

The valuation of any security is based on the value of the paper as a tool for obtaining all possible types of profit: regular (dividends) and sales (growth in the market value of a share). Both dividends and share appreciation are the main ways to generate income when investing in securities for a long time. The increase in the price of the shares of this company and the increase in the amount of dividends are most often due to the growth financial indicators enterprises, improvement of the overall market situation, business expansion, introduction of new technologies, developments and other changes.

Several methods are used to value stocks: method net assets, discounting cash flows, profit capitalization, cash flow method.

At the same time, it is important to take into account that the following factors have the greatest influence on the value of a share and any other security: liquidity, demand for such securities on various exchanges or other sites, quotes for such shares. Sometimes, for analysis and evaluation, they take approximate future profitability or value. In many cases, the qualitative and quantitative characteristics of the issuing company are also taken into account: prospects, geographical location, sphere or industry, present and earlier financial results.

Additionally, the reliability of the acquired shares or securities, possible default situations and similar problems are taken into account.

Acquired financial assets can be carried out by a professional or just an experienced investor. In many cases, this is done by the investor himself, based on all the information about the enterprise, the company, the value of its shares on the stock market, the results of work for the previous period and other indicators.

A certain difficulty is the assessment of illiquid securities or securities that are not listed on the stock exchange or are not included in circulation on the stock exchange or other trading floors. An experienced specialist can predict the result of investments in such securities based on the analysis of many indicators and factors.

4. Preliminary calculation of future dividends.

Any investor, investing his funds for a long period in stocks, expects to receive dividends. And although in some cases the regular amount is not too large, everyone necessarily calculates its possible value, as close as possible to the real one. Experienced investors calculate the dividend yield using the following formula: the income paid for the last period of time (a year) is divided by the approximate market value of the enterprise or company and multiplied by 100%.

If the amount of income paid in the form of dividends is unknown lately and there is no way to find out adequate figures for the past or at least the current year, this figure should be predicted. In any case, the company must pay at least a minimum of a legal 10% share of the profits for its shares. For the forecast, this amount is enough - it must be divided by the total number of issued shares. As a result of this calculation, the investor will know the legal minimum amount of dividends that are paid per share.

The realities of our time are such that most often domestic companies pay just such a minimum amount of dividends. Naturally, with long-term investment in foreign companies calculation and data may vary.

Sometimes, in order to predict the size of dividends from ordinary shares, you can take a percentage of the company's net income or the average of dividends over several recent years. If the calculations are taken net profit company or enterprise, then for a more accurate picture, you need to subtract from this amount all the dividends that were paid to shareholders.

Paying dividends is quite difficult for young companies, as they always need additional funds for further development. Shareholders of such enterprises may not receive dividends from invested funds for several years, but if the company is successfully developing and steadily gaining momentum in the market, there is no need to worry - over time, all dividends will be paid, and thanks to a reasonable approach to business and commercial success, the shares will be highly liquid and get a good price on the market or stock exchange. Currently, investments in securities and shares of young companies focused on research and development and new technologies can bring the maximum return, although the risk of such investments is also quite high.

In general, for long-term investments in stocks, the following rule is typical: stocks and securities that pay large dividends always grow slowly in value. At the same time, the slower the growth, the higher the dividend income. In this case, in order for the profit from dividends to exceed the invested funds, you need to wait long enough. These features are more attractive to conservative investors. In general, long-term investment is more calm, measured than short term investments and speculation.

5. Popular and profitable directions for long-term investment.

Among the many ways of long-term investments, there are some of the most popular ones. They are popular among professional investors due to the profitability and prospects of the chosen directions.

1. Shares and other securities. The most famous and sought after among all long-term investments are stocks and securities. Long-term investments in securities imply the prospects of the company, its expansion, increase in production volumes, access to international markets and other development options. Most often, the most promising industry is chosen for investment. In order not to lose their investments and future profits, professionals invest in several enterprises at once and in companies that often represent different industries and directions of commerce and production. The totality of all investments is the so-called investment portfolio.

Sometimes an investor lacks knowledge or complete information to select the most successful and promising areas or companies. In addition, situations are quite frequent when a large amount of funds is needed to acquire shares. In such cases, the investor can count on the help of mutual funds (mutual funds).

mutual funds are intermediary companies that carry out various operations with shares and securities. They can purchase the required block of shares for the client, or vice versa - sell it, select securities according to the required characteristics, offer auxiliary tools (programs) for trading on the stock exchange.

One of the most popular services of mutual funds is the compilation of a promising and most profitable investment portfolio with the subsequent sale of shares or shares in it. All securities in such a portfolio are carefully selected by the manager and in the aggregate have predetermined characteristics. There are investment portfolios with a predominant amount of long-term investments, or vice versa - short-term ones. Mutual funds offer investments of any kind, therefore, if an investor takes the first steps in the field of long-term investment, you can first contact such a fund for advice or simply look at what investments and what directions are most popular. The cost of shares in such funds is different, so everyone can choose a portfolio with the most suitable characteristics.

2. Strategic investments. Strategic investments are singled out separately among long-term financial investments. These include the so-called "controlling stake", the possession of which gives virtually complete power over the enterprise or company. Buying shares to gain control of a company rarely happens suddenly, in most cases it is a rather lengthy process. The investor gradually, sometimes over several years, buys up shares and as a result, he accumulates in his hands such a quantity of securities that allows him to exercise the strongest influence on the conduct of business and commercial policy companies.

3. Investments in Forex trading. A completely different, but no less popular direction is investment in trading on the Forex currency exchange. Funds in Forex can be invested through or through (transferring money to traders who will trade in Forex with your money). Investments in Forex trading can be both long-term and short-term. The services and capabilities of managers imply any period of investment, so the investor himself determines the period. The profitability of such investments in most cases is high and varies in value depending on the chosen strategy, degree of risk, diversification and other conditions for long-term investment in Forex. Sufficient from the investor's point of view, profit can be obtained both in a month and in several years. In many cases, an investor, having invested funds “for trial” for a short period, extends it and increases the amount of funds already in the process of investing.

4. Investments in transport and production equipment. Currently, investments in transport and equipment for production can also be attributed to popular ones. Having invested in transport, it can be leased, and technical equipment can be offered for rent. In this case, the investor receives a rent for the use of equipment, and later can sell it and even make a profit from the sale, if the degree of wear has not reached a critical level. However, you should provide for the cost of repairs, insurance, or prescribe the necessary conditions for restoration in the lease. For this type of investment, there is a risk that the equipment will be unused or damaged during operation, followed by repair costs if there is no insurance. Otherwise, investing in equipment or vehicles is very popular and profitable view long term investment.

5. Investments in real estate and its construction. No less income is received by those investors who have chosen to invest in the construction of real estate or the acquisition of already built residential and commercial facilities. The process of investing in residential real estate very well described in the books of Robert Kiyosaki. Interestingly, the author proposes to use for such investments not only their own, but also borrowed funds. In the conditions of our reality, this method is quite applicable, but we should not forget about possible risks. If funds are invested in the construction of an object, then it is necessary to take into account the possibility of bankruptcy of the contractor or refusal to work due to negative changes in the economic situation of the country. If money is invested in an already built commercial or residential property, then losses or downtime are possible due to the absence of a tenant or high competition between landlords. Another disadvantage of this direction of long-term investment can be considered quite high real estate prices. In order to purchase a quality property, you must have significant amount or the possibility of obtaining a loan on favorable terms, and this is not always realistic.

6. Direct investment into production. Another popular direction of long-term investments is direct investment in production or business development. There are several options here: the investor invests in the expansion of an existing business or in the production of competitive and necessary products on the basis of suitable other enterprises. Possible disadvantages of such investments: in the first case, this is insufficient development of one’s own business or an incorrectly chosen direction of development and, as a result, a lack of return on investment; in the sales market.

7. Investments in precious metals, jewelry, hoarding objects. Investing in such things can also be attributed to long-term investment due to the fact that in most cases the shelf life exceeds 3 years. However, receiving intermediate profit or dividends from such an investment is almost impossible, since such objects need special conditions storage or security. In some special cases, it is possible to rent or even exhibit in museums, but, as a rule, there is no charge for this. Therefore, it is possible to attribute such investments to long-term ones, but with a slight stretch. Disadvantages of this investment high price initial investments (with the exception of bank "metal accounts"), security costs, the possibility of damage, loss of value and other force majeure situations.

All the mentioned directions of long-term investment have certain pluses and minuses. It’s not bad if an investor’s portfolio contains several of the investment options mentioned here at once. Such a professional approach can be called diversification - the division of funds for investment into several financial instruments in order to reduce possible risks and obtain the planned profit.

Of particular interest to many investors are investments in shares, shares of mutual funds and in. The high popularity of such long-term investments is primarily due to the regular receipt of profit, its relative stability and size, a small amount of initial investment and the availability of information in these areas. For investments, you can choose one of these types of long-term investments or invest in several at once. For example, you can simultaneously purchase a share in a share investment fund, open a couple of Forex PAMM accounts and purchase a stake in several promising and fast-growing companies. The volume of investments in these areas is practically unlimited, neither minimum nor maximum, therefore, even with a small amount you can quickly and easily start building an investment portfolio. Funds received in the process of investing in the form of profits and dividends can be capitalized, that is, added to the total investment for even greater profits.

6. Stages of long-term investment.

Any long-term investments require a clear and careful approach. Whichever of all directions the investor chooses, he will definitely go through approximately the same stages.

1. Selection of investment objects.

When starting a long-term investment, it is necessary to compile a preliminary list of the most interesting objects for long-term investment. This includes all intended types of investments that meet the specific requirements and conditions of the investor. Conditions and requirements for investments should be determined in advance, based on market offers and the real situation in the economy.

In the list, it is necessary to select objects with a suitable profitability during a given period, with the corresponding initial costs and with the most predictable results. That is, the investor must make a list that includes only those investments that meet the requirements and are available for investment in terms of price and other factors.

2. Collection of information on investment objects.

Having decided on the list of the most suitable investments, it is necessary to collect and systematize all the information on them. To do this, it is desirable to use all available means: the Internet (especially informative data from the official websites of companies, joint-stock companies and enterprises), consultations with mutual fund managers or experienced investors. A good help is television channels and the press devoted to news, forecasts and the state of affairs in business and the economy. The effectiveness of investments, the size of dividends, the prospects for investments and liquidity will help to assess all options for long-term investments as accurately as possible.

3. Selection of objects for long-term investment.

The information collected in the previous step will make it easy to determine the best possible investment options. As a rule, there are several of them. The best solution would be to invest in several directions at once. Thus, the investor will protect his investments and make a profit. The entire amount of funds intended for investment should be divided into several parts and distributed among the most effective and interesting projects.

The choice of investment objects is a very important and responsible stage. Mistakes at this stage lead to serious losses and, as a result, loss of interest in long-term investment.

A serious approach includes calculating the effectiveness of investments, costs, planning or forecasting results, as well as comparing the initial investment and the final result. The main selection criteria are the possible and as close to reality as possible profit and payback period. No less important is the perspective of the issuing company.

It is important to remember that the longer the return period of the initial investment, the greater the degree of risk, since it is difficult to predict the state of the market for a long period and general trends in economics. Long-term investments for a period of more than 5 years in high-tech industries are quite risky, since the rapid development information technologies leads to new products and developments. An example of a failed investment is the infamous Polaroid.

4. Acquisition of assets.

The most successful time for buying shares among investors is the moment of falling demand for them. Thus, the investor gets an excellent opportunity to buy shares and securities at the lowest price. Due to this, you can purchase a larger amount of securities or invest the saved funds in other investment instruments. The same approach is possible for other areas of long-term investment, for example, it is better to buy real estate during stagnation. this market and falling prices.

However, if the investor waits too long for the most convenient moment, he risks losing dividends, rents or other income in a much larger amount than the expected savings. You can buy shares directly on the stock exchange or from a broker. Most often, the Internet is used for this. After the conclusion of an agreement with a broker, a representative of the investor's interests on the stock exchange, a trading account is opened in the name of the investor. Having replenished the account for any, even the minimum amount, the investor gets the opportunity to purchase any shares and other securities available at a price with the help of a broker. After the conclusion of the transaction, the broker must submit a report to in electronic format. In many cases, no more papers are issued, but the lists of shareholders of the company necessarily contain all the data about the new shareholder and the number of shares purchased. A similar approach is typical for investments in Forex. The only difference is that the funds are not invested in a trading account on the stock exchange, but in a PAMM account or in a PAMM index (a set of PAMM accounts of several managing traders), depending on the preferences of the investor. In the same way as on the stock exchange, a managing trader is selected, his work, strategies and accounts available for investment are analyzed. Then the most suitable accounts in terms of profitability, degree of risk and other criteria are selected, and the investor's funds are sent to them. Most often, several such accounts are selected, in most cases several traders choose to manage at once, thereby reducing risks. It is important to remember that investing in the currency exchange is an order of magnitude more risky than investing in shares of large well-known companies, but the profit for this type of investment is also much higher.

5. Market monitoring and investment portfolio review.

Having invested in selected assets, it is necessary to regularly assess the general state of the economy and from time to time analyze the state of affairs at all investment objects. Do not panic if the market fluctuates, since such a state is absolutely natural for any sphere of the economy and production. Small fluctuations, as a rule, do not affect long-term investments in any way, since the period of these fluctuations is incomparable with the investment period. If the investor is too worried about some of the components of his portfolio, then perhaps they should be replaced with more conservative and stable investment vehicles. If, for example, stocks are causing concern, it is worth switching them to bonds or a guaranteed bank deposit.

Over time, a more significant change in the value of shares, shares, securities or other objects is possible. Some of them will increase significantly in price, and some, on the contrary, will fall. In order for such changes not to have a negative impact on the overall return of the portfolio and other qualitative and quantitative characteristics, it is necessary to review all investment components and sell some of those that have risen too much in price, and use the funds received to purchase undervalued, promising, but currently inexpensive paper time. In addition, it is necessary to analyze the current profitability of shares and get rid of those that do not bring adequate dividends or have lost their former prospects. When investing in PAMM, you need to monitor PAMM accounts when investing on the currency exchange. Changes trading strategy manager, losses and a decrease in profitability can lead to negative results, therefore, if alarm signals appear, it is worth transferring funds to another PAMM account.

Other types of long-term investments also need regular assessment of the state and analysis of their liquidity.

Thus, long-term investments require careful selection, analysis and assessment of the market situation, not only at the initial stage of selection, but throughout the entire investment process. Perhaps, for some of the novice investors, this approach will seem too complicated and time-consuming, but it justifies itself - long-term investments bring the most stable and sufficient high income. In addition, useful experience and knowledge are acquired, which over time will lead to even greater profits and a worthy increase in your well-being.

What is a company's long-term investment? On what account are they reflected and how are they classified? We will understand the legislative nuances of accounting and reflection in the balance sheet of typical transactions.

Long-term and short-term financial investments

The placement of free funds of the organization with the aim of subsequent profit in the form of dividends or interest is called financial investments. According to the terms of investment, short- and long-term investments are distinguished. The latter include objects with a maturity of more than 1 year. What exactly can the company's funds be invested in? The main forms of long-term financial investments include (clause 3 PBU 19/02):

• Securities of the state and/or municipal standard.
• Securities of other enterprises, including bills and bonds with a precisely defined value and maturity date.
• Deposits in banking institutions.
• Contributions to the charter or share capital of companies; under simple partnership agreements.
• Interest-bearing loans issued to other organizations.
• Accounts receivable under contracts of assignment of rights of claim.
• Other long-term investments of a similar nature.

Note! Own securities redeemed for the purpose of further cancellation or resale are not recognized as financial investments; investments in precious metals; bills of exchange on account of mutual settlements with counterparties; investments of the organization in property objects used in rental activities (clauses 3, 4 PBU 19/02).

Accounting for long-term investments and financial investments

Accounting for long-term and short-term financial investments is carried out on the account. 58 in the manner prescribed by the order of the Ministry of Finance No. 94n dated October 31, 00. Information on invested funds with the opening of the corresponding sub-accounts. Analytical accounting of long-term financial investments is carried out by types of investments, contractors, terms.

Sub-accounts to account 58:

• 58.1 - here the accounting of shares and shares is kept.
• 58.2 - to display operations on investments in securities - both public and private.
• 58.3 - this takes into account loans provided to other enterprises (individual entrepreneurs, individuals) - cash and others.
• 58.4 - is intended to display contributions on the basis of simple partnership agreements.

Note! Currently, for the correct accounting of long-term financial investments, account 06 with the same name is no longer used. According to order No. 94n, this account is excluded from the current Chart of Enterprise Accounts, it was replaced by account. 58.

Long-term financial investments - an asset or a liability?

sch. 58 is active. The debit reflects the actual investments made by the enterprise in correspondence with valuables accounts. For example, this is c. 51, 50, 52, 01, 10, 91, 75, 80, 76, 98. Accordingly, the disposal of investments upon repayment of obligations by the debtor is reflected in the credit account. 58 in correspondence with property or other accounts. These are such accounts as - 52, 50, 51, 76, 90, 80, 91, 99, 04, 01.

Note! The procedure for accepting financial investments for accounting is given in clauses 8-17, 18-24 PBU 19/02; upon disposal, it is necessary to follow the requirements of paragraphs 25-33 of the PBU.

Long-term financial investments in the balance sheet

Regardless of the type of investment, long-term financial investments in the balance sheet are line 1170. This reflects information on balances at the end of the reporting period on issued interest-bearing loans, purchased securities, deposits, contributions to share capital, charters and other investment objects with a validity period of more than 12 months Short-term financial investments, that is, with a maturity (circulation) period of less than a year, must be reflected in line 1240, excluding cash equivalents.

Note! If an enterprise creates a reserve for the depreciation of the value of investments, an indicator of the cost is entered in line 1170 minus the amount of deductions to the reserve.

Analysis of long-term financial investments

In order to increase the efficiency of the disposal of free funds of the enterprise, it is necessary to analyze financial investments. The procedure may include a multivariate analysis of the composition and horizontal structure of investments; long-term calculation of investment results; choosing the most profitable direction, etc. At the same time, an increase in long-term financial investments indicates that the company has a significant amount of free funds that can be used for long-term investment.

On the one hand, this indicates the success of the business. But on the other hand, it is fraught with a decrease in business activity in the main work activity, which in the future may cause a decrease in profit for the reporting period. Therefore, it is optimal to analyze indicators in dynamics, and not just for a short time period.