Reserve capital as a tool for minimizing business risks in strategic management system: accounting aspect

The normative-legal regulation of accounting of formation and use of reserve capital is established. Legislative regulation of the minimum size of reserve capital for different types of companies has been clarified. For joint-stock companies, in contrast to other types of companies, the legislation provides for the possibility of reducing the minimum deductions (including up to 0 %) when the reserve capital reaches the minimum size. A statistical analysis of the structure of equity by type of economic activity is made. It is established that out of 15 types of economic activity, only three (agriculture, forestry and fisheries; education; provision of other services) have profitable activity. Profitable types of economic activity are characterized by the dominance of retained earnings or additional capital in the structure of equity, with reserve capital occupying a small share. The common features and differences of additional and reserve capital are established. Common one is the creation of various funds, the source of which is net income. A distinctive feature is the ability to use funds. Additional capital provides for the creation of a fund for the renewal of non-current assets, employee motivation, etc. and the use of funds for these needs. Unlike additional capital, reserve capital is formed to eliminate crisis moments in the enterprise, reaches a certain size and may not be used for years, because it has a clear purpose – to cover losses, pay dividends on preferred shares and guarantees to creditors in liquidation. The method of accounting of reserve capital, which allows distinguishing the minimum level defined by the legislation and the sum exceeding the minimum size is offered.

PROBLEMS OF FORMATION AND ACCOUNTING OF RESERVE CAPITAL OF THE ENTERPRISE

The main problems of formation and accounting of the reserve capital of the enterprise are considered in the article. At present, there are a number of inconsistencies in the methodology of accounting for reserve capital. The article discusses issues regarding the accounting for the formation and use of reserve capital. The characteristic of the reserve capital as a component of equity capital from the point of view of domestic and global accounting practices .. Observed that the accounting for the formation of reserve capital, it is purely calculated in nature unsecured assets. The article presents possible options for improving the accounting of reserve capital in order to increase the financial stability of the enterprise in the long run. The main promising aspects are the improvement of the legal framework and relevant information and methodological support. One of the advantages of the chosen research topic is that it is currently relevant, because the formed reserve capital is the financial basis of each enterprise. Reserve capital characterizes the degree of financial independence, financial capacity, as well as the degree of creditworthiness of the enterprise. The size or availability of reserve capital allows you to assess the efficiency of the enterprise, its effectiveness. Sound management of reserve capital contributes to the efficient operation of the enterprise, increase profits and increase the competitive advantages of the enterprise. The issues of accounting and reporting of reserve capital at the present stage of market economy are among the most important economic problems, allowing internal and external users of financial statements to determine the financial capabilities of the enterprise in the short term and long term. The relevance of the research topic is that for each enterprise reserve capital is the basis for the initiation and implementation of economic activity of any enterprise, one of the most important and important indicators. The economic importance of reserve capital and the versatility of its structure necessitate proper and reliable accounting. Reserve capital is a kind of result of redistribution of retained earnings as part of the company's equity.

D.D. Shostakovich in Samara — university project

Once of the largest event in the world culture of the twentieth century is premiere of the Seventh Symphony by D.D. Shostakovich in Kuibyshev. It took place on March 5, 1942 and is described in detail. The author of the article puts forward a hypothesis about the fixed image of Shostakovich in the citys homosphere, namely as the author of themilitary Symphony. Other works created by him in the reserve capital did not receive a philosophical and cultural understanding. The article also presents a projective idea: Shostakovichs music as a communication and University promoter. The article describes for the first time the internationalization of the almanac and the exhibition Samaras Hommage. The Samara project with this name was presented to Bonn, at The Russian Consulate General, on the anniversary of the end of World War II. Professors from Europa universities were also invited to the presentation. For the first time, describes how to participate in the intercultural project of the writer CH.T. Aitmatov. The author conclusion that the Kuibyshev period of D.D. Shostakovich is significantly shortened and read far from completely, including in a scientific and communicative way.

Peculiarities of analysis of enterprise's own capital in modern conditions

The article deals with the structure of the company's own capital and the definition and formation ofits individual elements, such as registered and reserve capital, in accordance with the normative accountingdocuments and legislative acts of Ukraine. The classification of the equity (invested and accumulated capital) of the enterprise by the National (Regulation) accounting standard 1 "General requirements for financialstatements" and by sources of its formation has been considered. The necessity of formation and use of acomprehensive approach to the financial analysis of the company's equity in the management system hasbeen analyzed and substantiated. The scientific result of the research is the formation of a comprehensiveapproach to the financial analysis of the equity of an industrial enterprise, which is relevant in the currentmarket conditions of operation of enterprises and covers the analysis of its dynamics, structure, turnover,profitability, risk and its protection. The calculations according to the formed approach have been made onthe basis of data of the enterprise of confectionery industry. The practical importance of the work is directedto the application of this method of equity analysis as a tool of financial analysis in the modern conditions ofmanagement of industrial enterprises to ensure the efficiency of their activities and management.

CHILDREN OF TOWN KUYBYSHEV IN THE GREAT PATRIOTIC WAR

Orphans during the SubjectWar suffered a difficult fate - parents died or went missing, hunger, staying away from home, and one sheer unknown. Large echelons to the reserve capital of our country, the city Kuybyshev sent for the maintenance of orphans. How was life, study, extracurricular activities for orphans organized? How did orphans cope in such a difficult time? Consider a few moments from their past.

Modelling Outstanding Claims with Mixed Compound Processes in Insurance

In general insurance, measuring the uncertainty of future loss payments and estimating the claims reserve are primary goals of actuaries. To deal with these tricky tasks, a broad literature is available on deterministic and stochastic approaches, most of which aims at straightforwardly modelling the overall claims reserve. In this paper by an extended, very general and reproducible case-study, we analyze the reserving process by attributing to each cell of the lower part of the run-off triangle a Compound mixed Poisson Process, calibrated upon both the numbers of claims and future average costs and considering as well the dependence among incremental claims. We provide analytically the moments of both incremental payments and the total reserve. Furthermore, we accordingly consider the probability distribution of the claims reserve, which is necessary for the assessment of the Risk Reserve capital requirement in a Solvency II framework. To test the impact of the model under different scenarios, insurers and lines of business, the case study is thoroughly analyzed by exploiting the Fisher-Lange average cost method.

On Reserve Money for a Fuzzy EOQ Model in an Inflationary Environment Under Supplier Credit

We propose to derive a deterministic inventory model for a time varying deterioration rate with an exponential fuzzy demand over a finite planning horizon in this study. We assume that the supplier offers a credit limit to the retailer during which there is no interest charged. However, the retailer has the reserve capital with him to make the payments at the beginning of the transaction, but he decides to take the benefit of the credit limit. Each cycle has shortages, which have been partially backlogged to suit present day competition in the market. Also, the whole study has been done in an inflationary environment using the Discounted Cash Flow (DCF) approach to impart economic feasibility to the model. Numerical examples have been presented with the help of lingo software.

High Propensity to Pay Dividends By State-Controlled Companies in Poland. Tunneling or Maturity Effect?

Usage of a random effects panel logit model have shown in this paper that the high propensity to pay dividends by the state-controlled companies quoted on the Warsaw Stock Exchange over the last years was not a result of the tunneling effect but was the maturity effect. The state-controlled companies which pay dividends fulfil the maturity effect criteria as they are big, profitable, have low investment opportunities and financial leverage, and are characterised by low risk associated with investing in their shares. The additional evidence of a reasonable and stable dividend policy pursued by the state-controlled companies are: payout ratio on the level of slightly more than 50% and lower by almost 8 percentage points than in the other companies; and relatively rare use of the reserve capital for dividends. However, state-controlled companies listed on the WSE are mostly commercial and of a fiscal nature for the state, which may create a temptation for tunneling.