Net assets and equity. Calculation of net assets of the enterprise. Example

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What is Net Assets? Description and definition of the concept

Net assets is a measure of the value of a company's property calculated annually. Net assets are the difference between the company's assets that are on its balance sheet and all debt obligations. If the company's debt is greater than the total value of its property, the net assets are negative. In order to determine financial condition companies whose net assets are negative use the concept of “lack of assets”.

at the same time, the debt on contributions to the authorized capital of the founders and the value of the company's own securities, which are redeemed from shareholders, do not take part. Liabilities exclude future income, capital and reserves.

When summarizing the annual results indicated that the net assets of the company are less than the authorized capital, the latter figure must be reduced. When, as a result of a decrease in the authorized capital, it turns out to be less than that established by law, the enterprise must be liquidated. The value of net assets is also used to decide on the payment of dividends to the OJSC.

Net assets - this is the real value of the property that the company has, each year determined minus debts.

The difference between liabilities and assets of a company.

Net assets is the difference between book value assets and the amount of debt obligations of the company. The negative value of net assets means that, according to the financial statements, the amount of debts is greater than the value of the total property of the company. The financial condition of a company with an unsatisfactory balance sheet structure (negative net assets) has other net assets - "lack of property".

Net assets are calculated on the basis of balance sheet data. For this purpose, the amount of liabilities is subtracted from the total assets. At the same time, not all balance indicators are included in the calculation. So, from the assets it is necessary to exclude the value of their shares, which are redeemed from shareholders, and the debt on contributions to the authorized capital from the founders. Even as part of liabilities, the income of upcoming periods is not taken into account (code 1530 section V).

The enterprise is obliged to reduce the size of the authorized capital to the amount of net assets when, according to the results of the financial year, net assets become smaller. Accordingly, when, with a decrease in the Criminal Code, its size becomes less than the size established by the relevant law, this will become a reason for the liquidation of the enterprise.

In a joint-stock company, the decision to pay dividends can only be made in a situation where NA >= delta + Reserve capital + UK (the difference between the liquidation value and the par value of preferred shares).

Algorithm for determining net assets in Russian legislation

In accordance with the Order of the Ministry of Finance of the Russian Federation of August 28, 2014 N 84n “On approval
The procedure for determining the value of net assets”, “the value of net assets is defined as the difference between the value of the organization's assets, which are accepted for calculation, and the amount of the organization's liabilities, which are accepted for calculation.

The objects of accounting, which are accounted for by the organization on off-balance accounts, are not taken into account when determining the value of net assets.

Assets that are accepted for calculation include all assets of the organization, except accounts receivable founders (shareholders, participants, members, owners) on contributions (contributions) to the authorized capital (share capital, share fund, statutory fund), on the payment of shares.

Liabilities that are accepted for calculation include all the obligations of the organization, except for the income of the coming periods, which are recognized by the organization due to the receipt of state assistance and in view of the gratuitous receipt of property.

AT Russian legislation and world practice, the concepts of "own funds" and "net assets" (" equity”) are often used as analogous ones. In certain legal regulations of the Russian Federation, these two concepts are used interchangeably, for example, in accordance with Art. 1 of the Federal Law of July 18, 2011 N 228-FZ “On Amendments to Certain Legislative Acts Russian Federation regarding the revision of methods for protecting the rights of creditors in the event of a decrease in the authorized capital, changing the requirements for business entities in the event of a discrepancy between the authorized capital of the value of net assets" indicate that "for a credit institution, instead of the value of net assets, the amount of capital (own funds) is calculated, which is determined in the manner that installed central bank RF".

In the legislation of the Russian Federation there are many different methods, methods, instructions for determining the net assets of various legal organizational forms of organizations or types of economic entities. Russian legislation currently has more than two dozen different methods, instructions, methods for calculating own funds or net assets of various legal forms or types of organizations

An example of how to calculate net assets

The authorized capital of the organization is fully paid. From the establishment of the organization until March 31, it had no gratuitous receipts and was not provided with state assistance. On March 31, the balance sheet indicators are obtained:

• asset (line 1600) - 1400000 rubles;
• long-term obligations (line 1400) - 800,000 rubles;
• short-term liabilities (line 1500) - 500,000 rubles;
• reserves and capital (line 1300) - 100,000 rubles. (1,400,000 rubles - 800,000 rubles - 500,000 rubles).

The value of the organization's net assets as of March 31 is 100,000 rubles. (100,000 rubles - 0 rubles + 0 rubles).

We briefly reviewed net assets: an algorithm for determining in Russian legislation, an example of how to calculate the value. Leave your comments or additions to the material

Net current assets (net working capital)(net working capital) - the amount of current assets financed by the company's own and long-term borrowed capital.

What is net current assets?

The calculation of this indicator is carried out according to the following formulas:

CHA \u003d SC + DZK - VACHA \u003d OA - KPC

where CHA- the amount of net current assets (net working capital) of the enterprise;
SC- the amount of own capital of the enterprise;
DZK- the amount of long-term borrowed capital used by the enterprise (the amount of its long-term financial liabilities);
VA- the total cost of non-current assets of the enterprise;
OA- the total amount of current assets of the enterprise (its working capital);
KPC- the amount of short-term borrowed capital used by the enterprise (the amount of its short-term financial liabilities).

The dynamics of the indicator of the amount and level of net current assets is one of the most important indicators of changes in the financial condition of the enterprise as a whole, as it characterizes the dynamics of the sources of financing assets, financial stability and efficiency of use of own capital.

Net current assets are necessary to maintain the financial stability of the enterprise, since their presence means that it is not only able to pay off its short-term obligations in current year, but also has financial resources to expand its activities in the future.

The presence of net current assets and their amount is an indicator of the expediency of investing in the relevant company for investors and creditors. Availability of clean working capital causes greater financial stability of the company and independence in the face of a slowdown in the turnover of working capital, depreciation or loss of current assets.

If, with a constant volume of short-term financial liabilities and non-current assets, the volume of own and long-term borrowed capital grows, then the size and level of net current assets will increase. In this case, the financial stability of the enterprise will increase, but the effect of financial leverage will decrease and the weighted average cost of capital as a whole will increase (because interest rate for long-term financial loans due to their greater risk is higher than for short-term loans).

Accordingly, if with the constant participation of equity and long-term borrowed capital in the financing of assets (with a stable value of non-current assets of the enterprise), the amount of short-term financial liabilities will increase, then the level of net current assets (their share in the total amount of current assets) will decrease. In this case, the weighted average cost of capital can be reduced, a more efficient use of equity capital can be achieved (due to an increase in the effect of financial leverage), but at the same time, the financial stability and solvency of the enterprise will decrease (the decrease in solvency will occur due to an increase in the amount of current financial liabilities and an increase in frequency of payments for their repayment).

Thus, the level of net current assets (their share in the total amount of current assets) ultimately determines the ratio between the level of efficiency in the use of equity capital and the level of risk of reducing the financial stability and solvency of the enterprise, and, accordingly, the type of asset financing policy chosen by him (aggressive, moderate, conservative).

Definition

Net assets- this is the value determined by subtracting from the amount of the organization's assets, the amount of its liabilities. Net assets is the amount that will remain to the founders (shareholders) of the organization after the sale of all its assets and the repayment of all debts.

The net assets indicator is one of the few financial indicators, the calculation of which is unequivocally determined by the legislation of the Russian Federation. The procedure for calculating net assets was approved by Order of the Ministry of Finance of Russia dated August 28, 2014.

How to Calculate Net Working Capital

N 84n "On approval of the procedure for determining the value of net assets". This procedure is applied by joint-stock companies, limited liability companies, state unitary enterprises, municipal unitary enterprises, production cooperatives, housing savings cooperatives, business partnerships.

Calculation (formula)

The calculation comes down to determining the difference between assets and liabilities (liabilities), which are defined as follows.

The composition of the assets accepted for calculation includes all assets of the organization, with the exception of the receivables of the founders (participants, shareholders, owners, members) for contributions (contributions) to the authorized capital (authorized fund, share fund, share capital), for payment of shares.

The composition of liabilities accepted for calculation includes all liabilities, except deferred income. But not all deferred income, but those that recognized as an organization in connection with the receipt of state assistance, as well as in connection with the gratuitous receipt of property. These incomes are actually the organization's own capital, therefore, for the purposes of calculating the value of net assets, they are excluded from the short-term liabilities section of the balance sheet (line 1530).

Those. the formula for calculating net assets according to the balance sheet of the enterprise is as follows:

Net assets \u003d (line 1600 - memory) - (line 1400 + line 1500 - DBP)

where ZU is the debt of the founders on contributions to the authorized capital (it is not separately allocated in the Balance sheet and is reflected in short-term receivables);

DBP - deferred income recognized by the organization in connection with the receipt of state assistance, as well as in connection with the gratuitous receipt of property.

An alternative way to calculate net asset value giving exactly the same result as the formula above would be:

Net assets \u003d str. 1300 - memory + DBP

Normal value

The indicator of net assets, known in Western practice as net assets or net worth - key indicator activities of any commercial organization. The organization's net assets must be at least positive. Negative net assets are a sign of the insolvency of the organization, indicating that the company is completely dependent on creditors and does not have its own funds.

Net assets should not only be positive, but also exceed the authorized capital of the organization. This means that in the course of its activities, the organization not only did not waste the funds originally contributed by the owner, but also ensured their growth. Net assets less than the authorized capital are allowed only in the first year of operation of newly created enterprises. In subsequent years, if the net assets become less than the authorized capital, the civil code and legislation on joint-stock companies requires the authorized capital to be reduced to the value of net assets. If the organization's authorized capital is already at a minimum level, the question of its further existence is raised.

net asset method

In valuation activities, the net asset method is used as one of the methods for assessing the value of a business. With this method, the appraiser uses data on the net assets of the organization according to the financial statements, previously adjusted based on their own estimated values ​​of the market value of property and liabilities.

Net current assets

Net assets

The concept of NA is regulated by the Civil Code of the Russian Federation, defining them as a liquidity criterion for an organization, regardless of its organizational and legal form. Net assets are the difference reflected in the balance sheet between the value of all types of property of the institution (fixed and cash assets, land property, etc.) and the amount of established liabilities (accounts payable of the organization). NA is the own capital funds of any enterprise, in other words, the capital property that will remain at the disposal of the institution after the repayment of all debts to creditors and the sale of property objects.

The calculation of the value of net assets according to the balance sheet must be carried out annually during the preparation and preparation of annual financial statements. The calculated NA value demonstrates the real financial position enterprises on the current date.

Net assets on the balance sheet

The amount of net assets in the balance sheet is line 3600 in section 3 of the Statement of Changes in Equity.

How to Calculate: Formula for Calculating Net Assets

Calculation of NA is regulated by the Ministry of Finance of the Russian Federation through Order No. 84n dated August 28, 2014, which gives the concept of net assets - a formula. Its enforcement extends to the following types of organizational and legal forms of enterprises:

• public and non-public joint-stock companies;
• LLC - limited liability companies;
• SUE and MUP;
• production and housing savings cooperatives;
• business partnerships.

CHA \u003d (VAO + OJSC - ZU - ZVA) - (DO + KO - DBP).

Let's decipher the main terms of this formula:

• HLW - non-current (JSC);
• JSC - negotiable JSC;
• ZU - founders' debts to the institution for filling shares in the UK;
• ZVA - debt from the redemption of own securities (shares);
• DO - long-term liabilities;
• KO - short-term liabilities;
• DBP - return expected in future periods.

The formula for net assets on the balance sheet is as follows:

The value of net assets in the balance sheet, line 3600, is entered after its calculation in the "Statement of changes in capital", form according to OKUD 0710003.

All settlement procedures must be carried out in writing and certified by the accounting department, on a separate form developed by the enterprise independently and enshrined in the accounting policy.

How to calculate net assets from a balance sheet, example

Indicator analysis

NA must be calculated to fix the current financial condition of the enterprise. By studying their value, the owners draw conclusions about the efficiency and productivity of the business and decide on further investment or withdrawal of their Money. Net assets in the balance sheet, line 3600, show the owners how profitable their cash investments and equity of the institution are.

FA are essential for the analysis of financial and economic activities. They are also taken into account when paying dividends. NA must be positive, and their indicator must exceed the size of the authorized capital. When their value grows, management can conclude that the profit of the organization is growing. Negative net assets can be observed in the first year of the enterprise's activity - the most difficult period for functioning, when the NA can decrease and be significantly lower than the invested capital. In the case when the enterprise has been operating for a long period of time, and the NA is negative, this indicates that the organization is operating inefficiently and investments are not profitable.

The increase in net assets is associated either with a change in their value (for example, a revaluation of fixed assets), or with a change in the value of liabilities. Also, the increase in NA is made at the expense of additional investments of the founders, when additional capital is applied.

Net assets- this is the value determined by subtracting from the amount of the organization's assets, the amount of its liabilities.

Net assets

The procedure for calculating net assets was approved by the Order of the Ministry of Finance of Russia dated August 28, 2014 N 84n "On Approval of the Procedure for Determining the Cost of Net Assets". This procedure is applied by joint-stock companies, limited liability companies, state unitary enterprises, municipal unitary enterprises, production cooperatives, housing savings cooperatives, economic partnerships.

Calculation (formula)

The calculation comes down to determining the difference between assets and liabilities (liabilities), which are defined as follows.

The composition of the assets accepted for calculation includes all assets of the organization, with the exception of the receivables of the founders (participants, shareholders, owners, members) for contributions (contributions) to the authorized capital (authorized fund, share fund, share capital), for payment of shares.

The composition of liabilities accepted for calculation includes all liabilities, except deferred income. But not all deferred income, but those that recognized as an organization in connection with the receipt of state assistance, as well as in connection with the gratuitous receipt of property. These incomes are actually the organization's own capital, therefore, for the purposes of calculating the value of net assets, they are excluded from the short-term liabilities section of the balance sheet (line 1530).

Those. the formula for calculating net assets according to the balance sheet of the enterprise is as follows:

CHA \u003d (str. 1600-ZU) - (str. 1400 + str. 1500-DBP)

where ZU is the debt of the founders on contributions to the authorized capital (it is not separately allocated in the Balance sheet and is reflected in short-term receivables);

DBP - deferred income recognized by the organization in connection with the receipt of state assistance, as well as in connection with the gratuitous receipt of property.

Normal value

The indicator of net assets, known in Western practice as net assets or net worth, is a key indicator of the performance of any commercial organization. The organization's net assets must be at least positive. Negative net assets are a sign of the insolvency of the organization, indicating that the company is completely dependent on creditors and does not have its own funds.

Net assets should not only be positive, but also exceed the authorized capital of the organization. This means that in the course of its activities, the organization not only did not waste the funds originally contributed by the owner, but also ensured their growth. Net assets less than the authorized capital are allowed only in the first year of operation of newly created enterprises. In subsequent years, if net assets become less than the authorized capital, the civil code and legislation on joint-stock companies require that the authorized capital be reduced to the amount of net assets. If the organization's authorized capital is already at a minimum level, the question of its further existence is raised.

net asset method

In valuation activities, the net asset method is used as one of the methods for assessing the value of a business. With this method, the appraiser uses data on the net assets of the organization according to the financial statements, previously adjusted based on their own estimated values ​​of the market value of property and liabilities.

Briefly: Various indicators are used to assess the financial stability of an enterprise.

The procedure for calculating net assets according to the balance sheet - formula 2017-2018

But the key is the calculation of net assets. To find out its value, you need to subtract liabilities from assets. At the same time, off-balance sheet accounts, deferred income and a number of other indicators are not taken into account.

in detail

Net assets - the difference between the value of the company's property and its debt obligations. This indicator can be both positive and negative. If it is greater than zero, it means that the enterprise has enough property to meet its debt obligations; if it is less, it means that there is a shortage. The indicator makes it clear how stable the financial position of the organization is.

A negative indicator is one of the prerequisites for the liquidation of an organization, especially if it is below the minimum allowable amount of authorized capital for the second year in a row (clause 11 of article 35 of the Federal Law of December 26, 1995 N 208-FZ).

When should you count?

You need to calculate net assets for an LLC when:

• preparation of the annual report;
• an increase in the authorized capital, if this occurs at the expense of property;
• the request of the person concerned;
• withdrawal of a participant from the company to determine its share.

In joint-stock companies, on the basis of this indicator, the cost of a block of shares of each of its members is also calculated.

Calculation scheme

In 2014, a scheme for calculating net assets appeared, defined by law (Order of the Ministry of Finance of the Russian Federation dated August 28, 2014 N 84n). As before, the data of the balance sheet are taken as a basis and liabilities are deducted from assets. However, the debt of the founders on contributions, the value of shares repurchased from shareholders, capital and reserves, deferred income should not be taken into account, since they are not directly related to either the actual property or the debt of the enterprise.

Calculation formula:

Ah \u003d A - ZC, where

• A - assets;
• ZS - borrowed funds.

Fig. 1. An example of an enterprise balance sheet

Objects on off-balance accounts are not accepted for accounting, namely:

• material values ​​that the company has accepted for safekeeping;
• reserve funds;
• goods accepted for commission;
• forms strict accountability etc.

It also does not include authorized, additional and reserve capital, deferred income, uncovered profit or loss.

The size of the authorized capital cannot be more than net assets. If, after balancing, this is not the case, then its value should be reduced to their size. However, it cannot be less than 10,000 rubles established by law. Otherwise, liquidation of the enterprise will follow.

In the balance sheet of the enterprise, net assets are indicated in line 3600.

Intangible assets	Long-term liabilities on loans and credits
fixed assets	Other long-term liabilities
Construction in progress	Short-term liabilities on loans and credits
Profitable investments in material values	Accounts payable
Early and short-term financial investments	Debts to participants (founders) for payment of debts
Other noncurrent assets	Reserves for future expenses
	Other current liabilities
VAT on purchased assets
Accounts receivable
Cash
Other current assets

Fig. 2. Calculation of net assets by example

Download the form for calculating net assets in excel

Although the scheme is general, valuation methods may also depend on the company's activities and legal form. So, for example, management companies must take into account Decree of the Government of the Russian Federation of December 27, 2004 N 853. Order of the Federal Financial Markets Service of the Russian Federation of October 23, 2008 N 08-41 / pz-n should be considered brokers, mutual funds, commodity exchanges.

Net assets on the example of specific organizations

The indicator is reflected in the balance sheet of any company.

For example, in OAO Gazprom in 2014 it amounted to 9,089,213,120 thousand rubles. Growth compared to 2013 - 720,047,660 thousand rubles. (8.6%).

Net assets of Akkobank in June 2015 decreased:

Negative indicators indicate the unstable state of the credit institution. But the data is only for a month, not a year. The situation may improve before the end of the year.

CMP JSC closed the year of 2014 with positive indicators.

Pyotr Stolypin, 2015-08-16

Questions and answers on the topic

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Net assets

The concept of NA is regulated by the Civil Code of the Russian Federation, defining them as a liquidity criterion for an organization, regardless of its organizational and legal form. Net assets are the difference reflected in the balance sheet between the value of all types of property of the institution (fixed and cash assets, land property, etc.) and the amount of established liabilities (accounts payable of the organization).

Calculator for calculating net assets and the actual value of a share

NA is the own capital funds of any enterprise, in other words, the capital property that will remain at the disposal of the institution after the repayment of all debts to creditors and the sale of property objects.

The calculation of the value of net assets according to the balance sheet must be carried out annually during the preparation and preparation of annual financial statements. The calculated NA value demonstrates the real financial position of the enterprise as of the current date. The amount of net assets in the balance sheet is line 3600 in section 3 of the Statement of Changes in Equity.

How to Calculate: Formula for Calculating Net Assets

Calculation of NA is regulated by the Ministry of Finance of the Russian Federation through Order No. 84n dated August 28, 2014, which gives the concept of net assets - a formula. Its enforcement extends to the following types of organizational and legal forms of enterprises:

• public and non-public joint-stock companies;
• LLC - limited liability companies;
• SUE and MUP;
• production and housing savings cooperatives;
• business partnerships.

CHA \u003d (VAO + OJSC - ZU - ZVA) - (DO + KO - DBP).

Let's decipher the main terms of this formula:

• HLW - non-current (JSC);
• JSC - negotiable JSC;
• ZU - founders' debts to the institution for filling shares in the UK;
• ZVA - debt from the redemption of own securities (shares);
• DO - long-term liabilities;
• KO - short-term liabilities;
• DBP - return expected in future periods.

The formula for net assets on the balance sheet is as follows:

The value of net assets in the balance sheet, line 3600, is entered after its calculation in the "Statement of changes in capital", form according to OKUD 0710003.

All settlement procedures must be carried out in writing and certified by the accounting department, on a separate form developed by the enterprise independently and enshrined in the accounting policy.

How to calculate net assets from a balance sheet, example

Indicator analysis

NA must be calculated to fix the current financial condition of the enterprise. By studying their value, the owners draw conclusions about the efficiency and productivity of the business and decide on further investment or withdrawal of their funds. Net assets in the balance sheet, line 3600, show the owners how profitable their cash investments and equity of the institution are.

FA are essential for the analysis of financial and economic activities. They are also taken into account when paying dividends. NA must be positive, and their indicator must exceed the size of the authorized capital. When their value grows, management can conclude that the profit of the organization is growing. Negative net assets can be observed in the first year of the enterprise's activity - the most difficult period for functioning, when the NA can decrease and be significantly lower than the invested capital. In the case when the enterprise has been operating for a long period of time, and the NA is negative, this indicates that the organization is operating inefficiently and investments are not profitable.

The increase in net assets is associated either with a change in their value (for example, a revaluation of fixed assets), or with a change in the value of liabilities. Also, the increase in NA is made at the expense of additional investments of the founders, when additional capital is applied.

By order of the Ministry of Finance of the Russian Federation of August 28, 2014 No. 84n (registered with the Ministry of Justice on October 14, 2014) new order determining the value of net assets. The Order will enter into force 10 days after its official publication. Accordingly, declared invalid regulations, which previously approved the rules for assessing the net assets of joint-stock companies, insurance companies and organizers of gambling.

Scope of the new procedure for determining net assets

The new procedure is applied by joint-stock companies, limited liability companies, state unitary enterprises, municipal unitary enterprises, production cooperatives, housing savings cooperatives, economic partnerships. It also applies to organizers of gambling.

The new procedure for determining net assets does not apply to credit institutions and joint-stock investment funds.

How net asset value is determined

The value of net assets is determined as the difference between the amount of the organization's assets accepted for calculation and the amount of the organization's liabilities accepted for calculation. Objects accounting, accounted by the organization on off-balance accounts, are not taken into account when determining the value of net assets.

The value of net assets is determined according to accounting data.

Assets accepted for calculation of net assets

Assets accepted for calculation include all assets of the organization, with the exception of the receivables of the founders (participants, shareholders, owners, members) for contributions (contributions) to the authorized capital (authorized fund, share fund, share capital), for payment of shares.

At the same time, assets are accepted for calculation at the cost to be reflected in the organization's balance sheet (in net valuation minus regulatory values) based on the rules for estimating the relevant balance sheet items.

For example, as part of the assets accepted for calculation, the following are taken into account:

- fixed assets and intangible assets at residual value;

— inventories minus provisions for depreciation material assets;

— accounts receivable less provisions for doubtful debts;

— financial investments for which the current value is not determined, minus reserves for depreciation of financial investments;

- receivables for advances received minus the amount of VAT calculated from this advance for payment to the budget.

Liabilities accepted for calculation of net assets

Liabilities accepted for calculation include all liabilities of the organization, with the exception of deferred income recognized by the organization in connection with the receipt of state assistance, as well as in connection with the gratuitous receipt of property.

At the same time, obligations are accepted for calculation at the cost to be reflected in the organization's balance sheet (in net valuation minus regulatory values) based on the rules for estimating the relevant balance sheet items.

For example, as part of the liabilities accepted for calculation, advances issued are taken into account minus the amount of VAT calculated from this advance and presented to tax deduction in accordance with the rules established by paragraph 12 of Art. 171 and paragraph 9 of Art. 172 of the Tax Code of the Russian Federation.

Calculation of net assets by example

According to the balance sheet, we will calculate the net assets as of December 31, 2014:

1) assets accepted for calculation:

- non-current assets - 142,094 thousand rubles;

— current assets – 15,826 thousand rubles;

— minus accounts receivable of the founders on contributions to the authorized capital - (600 thousand rubles)

total assets accepted for calculation - 157,320 thousand rubles;

2) liabilities accepted for calculation:

— long-term liabilities – 31,245 thousand rubles;

— short-term liabilities – 45,297 thousand rubles;

— minus deferred income - (930 thousand rubles)

total liabilities accepted for calculation – 75,612 thous.

Net assets LLC

3) total net assets - 81,708 thousand rubles. (157 320 - 75 612).

See attachment for balance sheet

An example of calculating the value of a company's net assets

Sometimes the appraiser needs to do a “sweep” analysis general condition companies. To do this, you can use information about the net assets of the company, which can be emphasized from the balance sheet.

Net assets reflect the real value of the company's property, excluding its debts.

Thus, net assets are the difference between the book value of all the company's assets and the amount of the company's debt obligations.

Where can I get information to calculate the company's net assets?

Data on the size of the company's net assets are contained in the financial statements. The value of net assets, determined at the beginning and end of the year, is indicated in the section on changes in capital (form No. 3), regardless of the legal form by all companies.

How to calculate the net assets of a company?

The procedure for calculating the amount of net assets for joint-stock companies is established by Order of the Ministry of Finance of Russia N 10n, Federal Commission for the Securities Market of Russia N 03-6 / pz dated January 29, 2003 *

*According to the Letter of the Ministry of Finance of Russia dated January 26, 2007 No. N 03-03-06/1/39 limited liability companies can use the rules developed for joint-stock companies.

The value of a company's net assets is understood as a value determined by subtracting from the sum of the company's assets, the sum of its liabilities.

Net assets are calculated on the basis of balance sheet data. At the same time, not all balance indicators are included in the calculation. Thus, it is necessary to exclude from the composition of assets the value of own shares repurchased from shareholders, and the debt of the founders for contributions to the authorized capital. And as part of liabilities, capital and reserves (section III) and deferred income (code 640 section V) are not taken into account.

An example of calculating the net assets of a company

Balance indicators	Balance data
Balance asset
1. Non-current assets (section I):
— residual value of fixed assets (p. 120)	RUB 1,500,000
— capital investments in construction in progress (p. 130)	RUB 1,000,000
— long-term financial investments (p. 140-
2. Current assets (section II):
— stocks
- accounts receivable,
including the debt of the founders on contributions to the authorized capital
- cash-
Balance liability
3. Capital and reserves (section III):
- authorized capital-
- retained earnings	RUB 1,400,000
4. Long-term liabilities (section IV):
— long-term loans
5. Current liabilities (Sec. How to calculate the value of net assets on the balance sheet of an organization
— short-term loans
- debt to the budget
— other short-term liabilities	RUB 1,500,000

The asset item does not include the indicator of the debt of the founders on contributions to the authorized capital (30,000 rubles).

Asset \u003d 1,500,000 + 1,000,000 + 500,000 + 100,000 + 600,000 - 30,000 + 500,000 \u003d 4,170,000 rubles.

The amount of assets will be 4,170,000 rubles.

The calculation of liabilities will not include the data of Sec. III balance sheet (1,500,000 rubles).

Liabilities \u003d 800,000 + 300,000 + 100,000 + 1,500,000 \u003d 2,700,000 rubles.

The amount of liabilities will be 2,700,000 rubles.

CHA \u003d 4,170,000 - 2,700,000 \u003d 1,470,000 rubles.

The value of the company's net assets is 1,470,000 rubles.

What does a negative net asset value mean?

If the company's net assets are negative, then the company's debt exceeds the value of all the company's assets.

Insufficiency of assets is a term that is sometimes applied to a company with a negative net asset value.

“If at the end of the second and each subsequent financial year the value of the net assets of the company turns out to be less than its authorized capital, the company is obliged to announce the reduction of its authorized capital to an amount not exceeding the value of its net assets, and register such a decrease in the prescribed manner. If at the end of the second and each subsequent financial year the value of the company's net assets is less than the minimum amount of the authorized capital established by this federal law on the date state registration society, the society is subject to liquidation.

Article 20 of the LLC Law

Similar is stated in the law on joint-stock companies:

“If the value of the company's net assets remains less than its authorized capital at the end of the financial year following the second financial year or each subsequent financial year, after which the value of the company's net assets turned out to be less than its authorized capital, including in the case provided for in paragraph 7 of this article, the company, no later than six months after the end of the relevant financial year, is obliged to take one of the following decisions:

• on reducing the authorized capital of the company to an amount not exceeding the value of its net assets;
• on the liquidation of the company"

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Definition

Net assets- this is the value determined by subtracting from the amount of the organization's assets, the amount of its liabilities. Net assets is the amount that will remain to the founders (shareholders) of the organization after the sale of all its assets and the repayment of all debts.

The net assets indicator is one of the few financial indicators, the calculation of which is unequivocally determined by the legislation of the Russian Federation. The procedure for calculating net assets was approved by the Order of the Ministry of Finance of Russia dated August 28, 2014 N 84n "On Approval of the Procedure for Determining the Cost of Net Assets". This procedure is applied by joint-stock companies, limited liability companies, state unitary enterprises, municipal unitary enterprises, production cooperatives, housing savings cooperatives, economic partnerships.

Calculation (formula)

The calculation comes down to determining the difference between assets and liabilities (liabilities), which are defined as follows.

The composition of the assets accepted for calculation includes all assets of the organization, with the exception of the receivables of the founders (participants, shareholders, owners, members) for contributions (contributions) to the authorized capital (authorized fund, share fund, share capital), for payment of shares.

The composition of liabilities accepted for calculation includes all liabilities, except deferred income. But not all deferred income, but those that recognized as an organization in connection with the receipt of state assistance, as well as in connection with the gratuitous receipt of property. These incomes are actually the organization's own capital, therefore, for the purposes of calculating the value of net assets, they are excluded from the short-term liabilities section of the balance sheet (line 1530).

Those. the formula for calculating net assets according to the balance sheet of the enterprise is as follows:

Net assets \u003d (line 1600 - memory) - (line 1400 + line 1500 - DBP)

where ZU is the debt of the founders on contributions to the authorized capital (it is not separately allocated in the Balance sheet and is reflected in short-term receivables);

DBP - deferred income recognized by the organization in connection with the receipt of state assistance, as well as in connection with the gratuitous receipt of property.

An alternative way to calculate net asset value giving exactly the same result as the formula above would be:

Net assets \u003d str. 1300 - memory + DBP

Normal value

The indicator of net assets, known in Western practice as net assets or net worth, is a key indicator of the performance of any commercial organization. The organization's net assets must be at least positive. Negative net assets are a sign of the insolvency of the organization, indicating that the company is completely dependent on creditors and does not have its own funds.

Net assets should not only be positive, but also exceed the authorized capital of the organization. This means that in the course of its activities, the organization not only did not waste the funds originally contributed by the owner, but also ensured their growth. Net assets less than the authorized capital are allowed only in the first year of operation of newly created enterprises. In subsequent years, if net assets become less than the authorized capital, the civil code and legislation on joint-stock companies require that the authorized capital be reduced to the amount of net assets. If the organization's authorized capital is already at a minimum level, the question of its further existence is raised.

net asset method

In valuation activities, the net asset method is used as one of the methods for assessing the value of a business. With this method, the appraiser uses data on the net assets of the organization according to the financial statements, previously adjusted based on their own estimated values ​​of the market value of property and liabilities.

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

Net assets

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

Net asset value. Calculation formula

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

NA - the value of the net assets of the enterprise;

A1 - non-current assets of the enterprise;

A2 - current assets;

ZU - debts of the founders on contributions to the authorized capital;

ZVA - the cost of repurchasing own shares;

P2 - long-term liabilities

P3 - short-term liabilities;

DBP - deferred income.

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

An example of calculating the net asset value of a business in Excel

Consider an example of calculating the value of net assets for the organization OAO Gazprom. To assess the value of net assets, it is necessary to obtain financial statements from the official website of the company. The figure below highlights the balance sheet lines necessary to assess the value of net assets, the data are presented for the period from Q1 2013 to Q3 2014 (as a rule, net assets are assessed annually). The formula for calculating net assets in Excel is as follows:

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

Video lesson: "Calculation of net assets"

Analysis of net assets is carried out in the following tasks:

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

Solvency assessment

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

Analysis of the dynamics of changes in net assets

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

Based on the analysis of the nature of the change in net assets, an assessment of the level of financial condition is made. The table below shows the relationship between the trend in net assets and the level of financial condition.

Comparison of net assets with authorized capital

In addition to the dynamic assessment, the value of net assets for an OJSC is compared with the size of the authorized capital. This allows you to assess the risk of bankruptcy of the enterprise (see → ). This comparison criterion is defined in the law of the Civil Code of the Russian Federation ( paragraph 4 of Art. 99 of the Civil Code of the Russian Federation; paragraph 4 of Art. 35 of the Law on Joint Stock Companies). Failure to comply with this ratio will result in liquidation in judicial order of this enterprise. The figure below shows the ratio of net assets and authorized capital. OAO Gazprom's net assets exceed its authorized capital, which eliminates the risk of the company going bankrupt in court.

Net assets and net income

Net assets are also analyzed with other economic and financial indicators of the organization. So the growth dynamics of net assets is compared with the dynamics of changes in sales proceeds and . Sales revenue is an indicator reflecting the effectiveness of the sales and production systems of the enterprise. Net profit is the most important indicator of the profitability of a business; it is at the expense of it that the assets of the enterprise are primarily financed. As you can see from the figure below, net profit decreased in 2014, which in turn affected the value of net assets and financial position.

Analysis of the growth rate of net assets and international credit rating

AT scientific work Zhdanova I.Yu. shows the existence of a close relationship between the rate of change in the net assets of the enterprise and the value of the international credit rating of such agencies as Moody’s, S&P and Fitch. The slowdown in the economic growth rate of net assets leads to a decrease in the credit rating. This, in turn, leads to a decrease in the investment attractiveness of enterprises for strategic investors.

Summary

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