scholarly journals REGULATORY FORMATION AND ACCOUNTING OF EQUITY AT LIMITED LIABILITY COMPANIES

2019 ◽  
pp. 136-146
Author(s):  
Yana ISHCHENKO
Keyword(s):  
Limited Liability ◽  
Legal Regulation ◽  
Equity Capital ◽  
The State ◽  
Macro Level ◽  
Wide Range ◽  
The Law ◽  
Legal Forms ◽  
Made In ◽  
Accounting Policy

The structure and dynamics of equity capital are the basis for determining the indicators that characterize the financial position and financial sustainability of the enterprise. Information support for the effective management of the company's own capital is formed, mainly, by the system of accounting and financial reporting. Reliable and complete coverage of the financial statements of information on the size and composition of equity capital is fundamental for an objective assessment of the financial status and efficiency of the enterprise and for making further decisions by owners, investors, creditors and other users of information. Over the past few years, some changes have been made in the way in which the equity of the enterprise is reflected in the accounting, which requires detailed analysis and evaluation of changes to find ways to improve the accounting of equity capital of the enterprise. The purpose of this publication is to study the legal regulation of the formation and accounting of equity, in particular in limited liability companies, as well as the development of organizational principles of its accounting. Financial independence of the enterprise and other indicators of the financial state directly depends from the complete and clear legal regulation of accounting of equity capital by enterprises of various organizational and legal forms, the effectiveness of the information management of capital formation, profit distribution, dividend and other corporate rights. The normative regulation of the accounting of own capital in Ukraine at the state level (macro level) and at the level of economic entities (micro level) is investigated. From June 17, 2018, the new Law on Limited Liability and Additional Liability Companies came into force. The fundamental change in the regulation of the activities of economic entities of such organizational and legal forms leads to the need to amend its constituent documents and internal accounting regulations. Changes made in accordance with the Law concerning the formation of the authorized capital of the companies with limited liability and additional liability are considered. An exemplary section of the order on the accounting policy that will regulate the accounting of own capital is designed and offered for practical use by limited liability companies. The formation of such section will allow the reconciliation of the accounting policies and constituent documents in order to meet the interests of users in accounting for equity capital. After all, the proper formation of accounting policies is an important element of internal regulation of the formation and accounting of equity, contributes to improving the completeness and reliability of information about the financial condition of the enterprise. Based on the study of legal regulation of formation and accounting of equity in limited liability companies, it was found that at the macro level the state regulates only certain aspects of these processes. Moreover, there remains a wide range of variability in the selection of organizational and methodological approaches to accounting of equity capital. This, in turn, provides the opportunity for the owners of the companies to choose the optimal alternative accounting option for this particular entity, taking into account the specifics of its activities. The main internal regulations of enterprises regulating the issues of formation, use and accounting of own capital are the statute and order on accounting policy. The research revealed shortcomings in the formation of norms as a charter and an order on accounting policies of limited liability companies in respect of own capital. Proposed changes to the specified internal regulations of limited liability companies, which will bring their norms in line with the norms of legislation, in particular with the norms of the Law of Ukraine "On Limited Liability Companies" of 22.06.2018, № 2275-VIII, and will allow to obtain full, relevant , unbiased information about equity capital for all the interested parties.

scholarly journals Genesis of legal regulation of the status of legal entities carried out activitiy in the field of providing legal services under the legislation of Ukraine

2021 ◽  
pp. 124-129
Author(s):  
I.T. Hobechia
Keyword(s):  
Public Relations ◽  
Limited Liability ◽  
Legal Regulation ◽  
Scientific Article ◽  
Legal Services ◽  
Legal Aid ◽  
The Status ◽  
The Law ◽  
Legal Forms ◽  
Legal Entities

In the current conditions of European integration processes in Ukraine, the issues of activity of institutions aimed at guaranteeing and protecting the rights and interests of all the participants in public relations have become important. The study of the genesis of legal regulation of the status of legal entities engaged in the provision of legal services in our country have been become particularly relevant. In Ukraine, advocates have the right to provide all types of legal services, in particular to represent interests in court in all types of proceedings. An advocate is a natural person who practices law on the grounds and in the manner prescribed by the Law of Ukraine «On Advocacy and Advocatory Activity». In studying the genesis of the legal regulation of the status of legal entities engaged in the provision of legal services under the laws of Ukraine, special attention has been paid to the period after the restoration of our state's independence on August 24, 1991. Legal entities engaged in the provision of legal services were created and operated in various organizational and legal forms, the most common of which were and remain private enterprises and limited liability companies. The peculiarity of our legal system is also that the Law of Ukraine «On Free Legal Aid» was adopted and regulates, in particular, the status of centers for free secondary legal aid and the peculiarities of providing such aid by advocates, who are included in the Register of free secondary legal aid advocates. At the same time, the key role in providing participants of public relations with legal services in our state belongs to the bar. Therefore, despite the possibility of carrying out activities in the field of legal services by legal entities of all types and organizational and legal forms, a special place among them has been occupied by advocatory association and advocatory bureau. In the scientific article it has been summarized and highlighted the periods in the history of normative regulation of the legal status of these legal entities after August 24, 1991.

scholarly journals Duality of the Electoral and Legal Culture and Political Communication in the Elections of the Landtag of Prussia (1849–1918)

Legal Concept ◽  
2021 ◽  
pp. 63-68
Author(s):  
Yuri Bokov ◽  
Erwin Akhverdiev
Keyword(s):  
Political Communication ◽  
Legal Culture ◽  
The State ◽  
Historical Sources ◽  
Communication Processes ◽  
Wide Range ◽  
Political Forces ◽  
The Law ◽  
Legal Forms ◽  
High Level

Introduction: based on a wide range of historical sources about the elections of the Landtag of Prussia in 1849–1918, an attempt is made to examine the electoral and legal culture through the prism of political communication. The aim of the research is a comprehensive analysis of the relationship between the communication processes and the level of electoral and legal culture of Prussian residents in 1849–1918. Results: the paper substantiates the conclusion that the study of political culture should not be limited to the analysis of the level of participation, but it is necessary to equally study political behavior in a very broad sense, since both are inextricably linked. On the example of the election campaigns to the Landtag of Prussia in 1849–1918 it is noted that the rejection of the current situation in the state leads to a decrease in the level of public participation in the elections, while low turnout is not always a consequence of an insufficient level of electoral and legal culture. Conclusions: the political and legal culture of the inhabitants of Prussia, their legendary habit of observing the law, had a decisive influence on the choice of the type of political communication. The Prussians, preferring legal forms of political communication, thereby confirmed their faith in the law, in the institution of elections. Political communication should not be limited to periodic voting. Citizens should be given the rights to influence the functioning of the state. If these requirements are not met, the legal types of political communication, even with a sufficiently high level of legal culture of the population, are replaced by semi-legal and illegal ones, and the reformist mode of activity of political forces is changed to a revolutionary one.

scholarly journals REGULATING ARTIFICIAL INTELLIGENCE IN MALAYSIA: THE TWO-TIER APPROACH

2020 ◽  
Vol 11 ◽  
pp. 183-201
Author(s):  
Nazura Abdul Manap ◽  
Azrol Abdullah
Keyword(s):  
Artificial Intelligence ◽  
Computer Science ◽  
Legal Liability ◽  
Legal Framework ◽  
Legal Regulation ◽  
Review Article ◽  
The State ◽  
Online Resources ◽  
The Law ◽  
Made In

Artificial Intelligence (AI) has been developed under the field of computer science for more than 50 years. AI somehow only gains its prominence in the recent millennia when the necessary tools to test the hypothesis on nature of thought became available. Unfortunately, the absence of legal regulation on AI has caused AI to exist in a regulatory vacuum and nature abhors vacuum. The law is at the state of confusion about who shall be blameworthy for the damage caused by AI. The prevalence of this problem triggers for the expatiation of this review article in defining the scope of AI that must be regulated. The objective of this article is to suggest that AI with certain capabilities must be placed in the legal realm. This article will first begin by highlighting the problems associated with AI before directing the focus of the discussion to the various reasons that justify for AI to be regulated. This article will then explore the various approaches which can be adopted by government in regulating AI. These approaches can be a workable formula to procure the two-tier methods in regulating AI in Malaysia. The methodology devised for this article is based on doctrinal research where most of the materials are derived from text books, online resources and established academic databases. The findings made in this article suggest that AI must be regulated independently from the existing legal framework. Reason being, AI capabilities are unique in its own sense and therefore cannot be treated like other previous technologies. The outcome of this article will also able to contribute on issues relating to the legal liability of AI in Malaysia.

scholarly journals Administrative and legal provision of implementing the law enforcement function in the taxation sector: experience of the European Union and perspectives for its adaptation in Ukraine

2020 ◽  
pp. 52-56
Author(s):  
S. Dmytrenko
Keyword(s):  
European Union ◽  
Law Enforcement ◽  
Planning Process ◽  
Legal Regulation ◽  
The State ◽  
The European Union ◽  
National Legislation ◽  
Legal Provision ◽  
The Law ◽  
Legal Forms

The author of the article has established that the law enforcement function, like all other functions, has its own mechanism of the implementation, which is based on a set of legal, organizational, economic and material elements. The system of such elements must meet the tasks that are set for the country at the present stage of state formation. It has been substantiated that administrative and legal provision of implementing the law enforcement function of the state in the taxation sector is a specific type of legal influence of administrative and legal forms and means, which together constitute a mechanism of administrative and legal regulation of implementing the law enforcement function of the state in the taxation sector, on the activity of corresponding subjects in order to ensure their normal functioning and effective performance of the duties assigned to them in the field of law and order, protection and defense of the rights and freedoms of citizens, combating offenses during the application of tax legislation. It has been clarified that the law norms provide interaction between the executive authorities and citizens in all spheres of public life, in particular law enforcement sphere and taxation sector, which in modern conditions determine the main criterion for assessing the quality of state policy. The essence of adaptation of the national legislation has been revealed. It has been proved that there is a sufficiently developed legal base in Ukraine, which regulates the main aspects for the adaptation of national legislation to the legislation of the European Union (in particular, in the sphere of implementing the law enforcement function of the state in the taxation sector). The author has determined the main steps in the direction of ensuring the effective functioning of administrative and legal mechanism for the provision of the implementation of the law enforcement function of the state in the taxation sector. It has been offered to make changes to the methodology and planning process on the adaptation of the current national legislation in the taxation sector.

Freedom to Define Membership in a Mutual Insurance Company

2021 ◽  
Vol 3 (108) ◽  
pp. 26-41
Author(s):  
Beata Mrozowska - Bartkiewicz
Keyword(s):  
Limited Liability ◽  
Fundamental Principle ◽  
Legal Framework ◽  
Business Activity ◽  
Insurance Company ◽  
Wide Range ◽  
Systemic Model ◽  
Mutual Insurance ◽  
Legal Forms

A mutual insurance society is one of the basic forms of conducting insurance activity. It is characterized by a very wide range of options which its founders and subsequently entitled members have in order to choose the organizational and systemic model of operation, to change it in the course of business, to define the concept of membership, to create various categories of members and provide them with different rights and duties, to determine the powers of statutory bodies, and, above all, to apply the method of mutuality. The Insurance and Reinsurance Activity Act regulates the basic legal framework of mutual companies, while referring quite a number of issues to the Polish Commercial Partnerships and Companies Code. This does not alter the fundamental principle on which the company's activity is based, namely that its articles of association play an extremely important role, which is much greater than in the case of public limited liability companies, and that members of a mutual insurance society enjoy considerable freedom to conduct business and categorize its members, which is unparalleled for other legal forms of business activity.

scholarly journals Israel: Is COVID-19 Expected More Than a War? (The Increase in Customs Value in Israel, Due to the COVID-19 Increase in Transport Prices - The Problem, and the Solution)

2021 ◽  
Vol 5 (11) ◽  
pp. 20-23
Author(s):  
Omer Wagner ◽  
Keyword(s):  
The State ◽  
Transportation Costs ◽  
The Past ◽  
The Law ◽  
Made In

Sea freight prices have risen sharply, due to the COVID-19 crisis, global shortages of ships, declining competition in the field, and containers of contagious demand. The increase in transportation costs leads to the increase in the value of goods for customs purposes, and to a further collection of customs duties. The Israeli law allows the state to facilitate importers and waive the extra customs duties, and similar and other facilitations have been made in the past. Therefore, all that is required is the flexibility and activation of goodwill on the part of the state, when interpreting the law.

scholarly journals Legal status of the company's share in own authorized capital under the Law of Ukraine “On limited and additional liability companies”: problems of legal regulation

2021 ◽  
Vol 11/1 (-) ◽  
pp. 31-36
Author(s):  
Volodymyr TSIUPRYK
Keyword(s):  
Legal Status ◽  
Limited Liability ◽  
General Meeting ◽  
Legal Regulation ◽  
Legal Nature ◽  
The Law ◽  
The Right ◽  
A Company ◽  
Authorized Capital ◽  
A Share

Introduction. Nowadays, the issue of determining the legal status of the company's share in the own authorized capital of LLC and TDV has become quite acute, as evidenced by the adoption on July 28, 2021 by the Commercial Court of Cassation in Case № 904/1112/20, in which the Court established a new approach legal nature of such a phenomenon and expressed his own position on the understanding of the legislation concerning the legal status of the share of LLC and TDV in its own authorized capital. Given that a limited liability company is the most popular type of legal entity that is chosen to conduct business in Ukraine, the analysis of this issue is relevant. Some scientific value for the development of the transfer of the participant's share are the works of individual authors devoted to the study of the legal nature of the share in the authorized capital but the problems arising around the legal status of the company. in their own authorized capital in these works were only mentioned along with others, but did not receive a detailed separate study. The purpose of the paper is to analyze the normative regulation of the legal status of the company's share in the own authorized capital of LLCs and ALCs, identification of shortcomings in their legal regulation and implementation, as well as the search for ways to eliminate them. Results. One of the most relevant decisions concerning the subject of this article is the Judgment of the Commercial Court of Cassation in case № 904/1112/20 of July 28, 2021. The court in this case found that the votes attributable to the share belonging to the company itself are not taken into account when determining the results of voting at the general meeting of participants on any issues. However, Ukrainian legislation does not contain any direct norms that would prohibit the exercise of the right to manage a company in relation to itself on the basis of a share in its own authorized capital. That is why the company cannot be a participant in relation to itself, although they seem logical, but do not have sufficient regulatory support, and therefore do not allow to be firmly convinced of their compliance with the law. In view of this, it can be stated that there is a significant gap in the national legislation on this issue, which, in our opinion, the Court failed to “fill” with this decision in the case. Conclusion. In the Ukrainian legislation at the level of the Law of Ukraine “On Limited and Additional Liability Companies” Article 25 defines the possibility for a company to acquire a share in its own authorized capital. However, the regulation of the legal status of such a share cannot be called sufficient, due to which in practice there are certain problems in the implementation of the provisions of the legislation concerning the share of the company in its own authorized capital. The solution of these legal problems is necessary to ensure the highest quality and clarity of the law, as well as to form case law with common approaches to understanding a single rule.

scholarly journals The Legal Status of Election Officials in the State of Montana

Legal Concept ◽  
2019 ◽  
pp. 137-144
Author(s):  
Alexey Szydlowski
Keyword(s):  
United States ◽  
The United States ◽  
Legal Regulation ◽  
The State ◽  
Full Description ◽  
Election Law ◽  
Us States ◽  
American Federation ◽  
Wide Range ◽  
The Us

Introduction: the election law of the US states to date remains insufficiently studied not only in Russia but also abroad. This is due to the fact that the legal regulation of the electoral process in America is attributed to the powers of the states or municipalities, depending on the legal doctrine applied by the state – Cooley Doctrine or Dillon Rule, which objectively imposes a limit on its study and generalization. The purpose of the study is to acquaint a wide range of scientific community with the latest research in the field of the US election law in regard to the first in the domestic law full description of the organizers of elections and referendums at the state and municipal levels in the United States. The author reviews a wide range of regional and local legislation with references to the constitutional, legal and regulatory acts of the US States. The paper is part of a series that explores all fifty subjects of the American Federation and the District of Columbia. Procedure and methods of research: the author analyzes the constitutional and electoral legislation of the United States at the level of Montana at the beginning of 2019. The methodology of the study was the comparative law, formal-legal, formal-dogmatic, specific-sociological, empirical, dialectical, analytical methods, the systematic approach. Results: the information about the organizers of elections and referendums in Montana, which was not previously covered in the Russian scientific literature, is introduced into scientific circulation. The interpretations of certain provisions of the law and legal consciousness of the U.S election law and law enforcement practice are given. The gaps of the legislation requiring additional research are surfaced. The theoretical and practical significance lies in the generalization of both the established and the latest legal sources (constitutions, organic laws, federal laws, charters, by-laws and regulations) of the United States and the subject of the American Federation and the development of proposals for the enrichment of the Russian science and the formation of objective understanding of the processes taking place in the United States in the field of constitutional, electoral law and the state-building. Conclusions: for a systematic and comparative legal analysis the author proposed the review of the legislation on the organizers of elections and referendums of Montana, revealing the existing contradictions, from the point of view of the Russian researcher, which allows considering the full range of elements of the electoral legislation of Montana from a new angle, seeing new legal structures, previously unknown to the domestic statesmen and law enforcers.

scholarly journals GAPS IN THE LAW AND WAYS TO FILL THEM

2020 ◽  
Vol 30 (3) ◽  
pp. 396-405
Author(s):  
P.V. Lushnikov
Keyword(s):  
Public Relations ◽  
Legal Regulation ◽  
Negative Consequences ◽  
First Case ◽  
The Law ◽  
False Idea ◽  
Law Making ◽  
Made In ◽  
Communicative Processes

The article deals with the issues of gaps in law, it is stated that at present the problem of gaps is caused by the development of public relations. The negative consequences of gaps and their causes are determined. Several classifications of gaps that are made in science are considered. It is concluded that the deliberate creation of gaps by the subjects of law-making can be a corruption-induced factor. The classification of gaps depending on the truth (real and imaginary) is analyzed in detail. It is concluded that under the imaginary spaces can occur, both the addressees and the addressees of legal messages. In the first case, the addressees due to lack of necessary knowledge may have a false idea about the lack of legal regulation. When considering the second option, there is agreement with the scientific position that the addressees may, for subjective reasons, try to resolve gaps in the law, which do not really exist, thereby giving rise to excessive legitimization or real gaps. The article considers the options of filling the gaps in the law proposed in science. Further, it is proposed to apply to this problem the provisions of hermeneutics. The possibility of applying hermeneutic methodology to eliminate gaps is substantiated. It is concluded that preliminary modeling of communicative processes in the course of law-making can be used as a measure to counteract the gap in laws. The author suggests the need to limit the "arbitrariness of the reader" in the process of applying the analogy of law and law, as well as in the process of forming a legal precedent.

scholarly journals Modern legal content of optimization of directions of administrative and legal regulation of the state cybersecurity policy

2021 ◽  
pp. 31-42
Author(s):  
Igor Diorditsa
Keyword(s):  
Cyber Security ◽  
State Policy ◽  
Critical Infrastructure ◽  
Armed Forces ◽  
Legal Regulation ◽  
Training System ◽  
The State ◽  
National Interests ◽  
Cyber Threats ◽  
The Law

The article proposes to consider the author's results of determining the conceptual provisions for optimizing the areas of administrative and legal regulation of state cybersecurity policy. The content of the current state of state policy in the field of cybersecurity is considered. Theoretical and practical aspects of optimization of legal relations in the field of state cybersecurity policy are analyzed. The interpretation of the state cybersecurity policy of Ukraine is determined – the activity of state and legal institutions to manage real and potential cyber threats and dangers to meet the cyber needs of man and citizen, as well as the realization of national interests in this area. The own vision of directions of the state cybersecurity policy according to the maintenance of a number of regulatory legal acts is offered, namely: directions of the state cybersecurity policy according to the Law of Ukraine «About the basic principles of maintenance of cybersecurity of Ukraine»; directions of the state cybersecurity policy in accordance with the Law of Ukraine «On Fundamentals of National Security of Ukraine»; directions of the state cybersecurity policy in accordance with the Doctrine of Information Security of Ukraine. It is concluded that the priority areas for optimizing state policy to strengthen the administrative and legal regulation of cybersecurity of the state are the following reforming cyber law as a segment of information legislation of Ukraine, especially in terms of not only clearly defining current threats and threats to cyber security, but also mechanisms public policy, including symmetric cyber measures; research on the protection of critical infrastructure from cyberattacks; promoting the development of domestic innovative products that can be used to strengthen the cybersecurity of the state; completion of the implementation of the provisions of the Council of Europe Convention on Cybercrime into national law; optimization of the training system in the field of cybersecurity for the needs of the Armed Forces of Ukraine and other bodies of the security and defense sector of Ukraine; promoting a more active policy of state security institutions to inform the public about cyber threats; promoting the militarization of cyberspace; support for both existing multilateral training sessions on countering cyberattacks on the state information infrastructure, and initiating new types of such training sessions. Key words:cybersecurity, cyberspace, state policy, cybersecurity policy, cybercrime.

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