Reserve capital is accounted for account 82 “Reserve capital”.

This type of capital is mandatory only for joint stock companies; all other organizations can create a reserve at their discretion.

What is included in reserve capital?

As mentioned above, the reserve is formed on account 82; reserve and other funds can be reflected in this account in accordance with the constituent documents of the organization. Joint-stock companies, in addition to the above, may also include a special fund for the corporatization of employees, a special fund for the payment of dividends on preferred shares and other special funds. Also, these special funds may not be accounted for in account 82, but rather be formed separately on. It should be noted that in the balance sheet of the enterprise, these special funds are in any case reflected in the reserve capital line.

The formation of reserve capital occurs after the date of approval of the financial statements, that is, after the end of the reporting year upon distribution of retained earnings received for the reporting year. The distribution of profits occurs once after the end of the reporting year, it is then that the formation and replenishment of reserve capital should occur and the corresponding entries should be reflected in the accounting records.

Video lesson “Accounting for reserve capital in account 82”

The lesson explains in detail the accounting of the organization's reserve capital on account 82, examines key entries, examples and how transactions are accounted for. The lesson is taught by a teacher-expert of the site “Accounting and Tax Accounting for Dummies” Gandeva N.V. ⇓

How is reserve capital formed?

After the calendar year is completed, all final entries are reflected, reporting for the year is drawn up - a meeting of the participants (founders) of the company is held, at which it is decided how the net profit will be distributed: for the payment of dividends, for the formation of a reserve, etc.

As mentioned above, for joint-stock companies the formation of reserve capital is a mandatory procedure, and it is established that the amount of reserve capital must be at least 5% of the authorized capital. The specific amount of the reserve for each individual organization is determined by its constituent documents (charter).

Therefore, contributions to the reserve each year must be at least 5% of the net profit received for the year. The specific amount of annual contributions must be such that the resulting reserve capital is not less than the amount established by the charter of the company.

Accounting for reserve capital

Reserve capital funds are necessary to cover possible unexpected losses of the organization. For joint stock companies, reserve capital is necessary to repurchase their own shares and repay bonds.

These funds cannot be used for other purposes. If all reserved funds are not used during the year, they are transferred to the next year.

Postings for the formation of reserve capital on account 82

Score 82- passive, therefore the formation of capital (increase in reserve) is reflected in the credit of the account, and the use of reserve funds (decrease in capital) is reflected in the debit of account 82. The final balance of account 82 should be a credit balance, this balance shows how much reserve the organization has.

Since the formation of the reserve occurs at the expense of net profit, account 82 corresponds to account 84 when reserving funds after the reporting date.

Lecture 16. Accounting for capital, reserves and target financing

Accounting for authorized capital

The authorized capital is the main source of formation of the organization's own capital. Depending on the organizational and legal forms of organizations, authorized capital can be in several forms: authorized capital(joint stock companies and LLCs), share capital(general partnership and limited partnership), authorized capital(state and municipal unitary organizations), unit trust(production cooperatives).

Authorized capital represents the totality in monetary terms of contributions (shares, shares at par value) of the founders (participants) to the property of the organization upon its creation to ensure activities in the amounts determined by the constituent documents.

Share capital– the totality of contributions of participants in a general partnership or limited partnership made to the partnership for the implementation of its economic activities.

State and municipal unitary organizations form authorized capital is a set of fixed and working capital allocated to an organization by the state or municipal authorities.

A mutual fund is a set of share contributions of members of a production cooperative for joint business activities, as well as the value acquired and created in the process of activity.

According to the Federal Laws “On Joint Stock Companies” and “On Limited Liability Companies”, the size of the authorized capital of an OJSC must be at least 1000 times the minimum wage, and a CJSC must be at least 100 times the minimum wage established by law on the date of submission of constituent documents for registration . For an LLC, the minimum authorized capital is 10,000 rubles.

The maximum number of participants in an LLC is no more than 50 people. If this number is exceeded, the LLC must be transformed into an OJSC or production cooperative.

The authorized capital of an OJSC, CJSC or LLC, recorded in the constituent documents, must be paid at least 50% by the time of registration of the company. The remaining part of the authorized capital is paid within a year from the date of its registration.

Net assets- this is a value determined by subtracting from the amount of assets of the joint-stock company accepted for calculation the amount of its obligations (liabilities) accepted for calculation.

(Net assets are that part of the property that will be at the disposal of the founders after the liquidation of the company (after repayment of all obligations) or net assets show the actual value of the company’s property).

To estimate the value of net assets, a calculation is made based on the balance sheet data. Net asset value is calculated quarterly and at the end of the year and is shown in the interim and annual financial statements.

Accounting for authorized and share capital, authorized and share funds is carried out on passive account 80 “authorized capital”. The credit of this account reflects the formation of the authorized capital, and the debit reflects its decrease.

The balance of this account must correspond to the amount of the authorized capital recorded in the constituent documents of the organization.

Entries in account 80 are made when forming the authorized capital, as well as in cases of increasing and decreasing capital, only after making appropriate changes to the constituent documents of the organization.

After the state registration of an organization, its authorized capital in the amount of deposits of the founders (participants) provided for by the constituent documents is reflected on the credit of account 80 in correspondence with account 75. The actual receipt of deposits of the founders is recorded on the credit of account 75 in correspondence with the accounts for accounting for cash and other valuables .

Analytical accounting for account 80 is organized in such a way as to ensure the formation of information on the founders of the organization, stages of capital formation and types of shares.

Account 80 is also used to summarize information about the status and movement of contributions to common property under a simple partnership agreement. In this case, account 80 is called “Comrades' Contributions”.

The property contributed by the partners to the simple partnership on account of their contributions is accounted for in the debit of the property accounting accounts (51, 01, 41, etc.) and the credit of account 80. When property is returned to the partners upon termination of the simple partnership agreement, reverse entries are made in accounting.

1. The amount of the authorized capital and the debt of the founders to pay for it are reflected: D-t account. 75 Set count. 80

2. Funds contributed by the founders towards the contribution to the authorized capital: D-t account. 50,51,52 Set count. 75

3. The founders contributed fixed assets, intangible assets and other property as a contribution to the authorized capital: D-t account. 08,10,58 Set of accounts. 75

4. The increase in the authorized capital at the expense of shareholders’ funds is reflected (for the amount of the issue of additional shares or the admission of new founders):

D-t sch.75 K-t sch. 80

5. The increase in the authorized capital due to the additional capital (retained earnings) of the company is reflected: Dt account 83.84 Set account. 80

6. The decrease in the authorized capital is reflected if it is not fully paid within a year after registration of the company: D-t account 80 K-t account. 75

7. The decrease in the authorized capital is reflected in order to bring it into line with the size of the company’s net assets: Dt account 80 Kt account. 84

8. The decrease in the authorized capital due to the cancellation of shares (stakes) purchased from shareholders (participants) is reflected:

D-t sch.80 K-t sch. 81 “Own shares (shares)”

Accounting for reserve capital

Reserve capital is mandatory created by joint-stock companies and organizations with foreign capital participation. Other organizations can create it at their own discretion, if so provided by the charter.

In joint-stock companies (CJSC, OJSC), the amount of reserve capital must be at least 5% of the authorized capital of the joint-stock company (in joint organizations up to 25%).

Joint-stock companies must annually contribute at least 5% of net profit to reserve capital. Contributions cease when the reserve capital reaches the amount determined by the charter.

Joint-stock companies may spend reserve capital funds to cover losses for the reporting year; repayment of bonds and repurchase of company shares if other means are insufficient for this.

Limited liability companies can spend reserve capital funds both to cover losses and for other purposes provided for by their charters. There are no legal restrictions on the use of reserve capital funds for LLCs.

Accounting for reserve capital is carried out on passive account 82 “Reserve capital”, which is intended to summarize information about the state and movement of reserve capital. The credit of this account reflects the formation of reserve capital, and the debit reflects its use.

The amount of reserve capital is reflected separately in the balance sheet:

reserves formed in accordance with legislation;

reserves formed in accordance with the constituent documents.

Reserve capital is formed from the organization's retained earnings.

1. Net profit is used to form reserve capital:

Dt sch. 84 Set count. 82

2. Reserve capital funds are used to cover the organization’s loss for the reporting year:

Dt sch. 82 Set count. 84

3. Reserve capital funds are used to repay the bonds of the joint stock company:

Dt sch. 82 Set count. 66.67

Reserve capital represents funds accumulated by the company for specific purposes by placing retained earnings in it to cover losses, as well as to repay the company's bonds and repurchase the company's shares in the absence of other funds. The main functions of reserve capital are:
- warranty- stipulates that reserve capital is a kind of insurance for shareholders and creditors in the event that the organization does not have enough funds to repay debts to them;
- limiting the ability to make decisions on profit distribution- the company does not have the right to make a decision on between the participants or on the payment of dividends on shares if, on the day such a decision is made, the value of the company’s net assets is less than its authorized capital, reserve fund and the excess over the par value determined by the charter, the liquidation value of the outstanding preferred shares or becomes less their size as a result of such a decision. This function is performed due to the fact that the formation of reserve capital is carried out from the same sources as the accrual of dividends, but in order of priority - contributions to the reserve capital are made before the announcement of the payment of dividends.
Differentiation (of the fund) in the balance sheet and accounting is widespread in world practice; its size significantly exceeds the size established by Russian legislation. Thanks to the importance and significance of the functions of reserve capital, an organization has the opportunity not only to increase the transparency and attractiveness of its financial statements, but also to stabilize its financial and economic activities.
In accordance with paragraph 1 of Art. 35 of the Federal Law of December 26, 1995 N 208-FZ “On Joint-Stock Companies” (hereinafter referred to as Law N 208-FZ) joint stock companies are required to create a reserve fund, the minimum amount of which is 5% of the authorized capital. The specific amount of the reserve is determined by the charter of the joint-stock company (the maximum amount of annual contributions to the reserve fund is not limited by law), and the company is obliged to annually contribute at least 5% of net profit to the reserve capital until it reaches its amount specified in the charter. When this amount is reached, annual contributions to the reserve fund may temporarily not be made.
A limited liability company has the right, but is not required to form reserve capital. According to Art. 30 of Federal Law No. 14-FZ of 02/08/1998 “On Limited Liability Companies” (hereinafter referred to as Law No. 14-FZ), a company may create a reserve fund and other funds in the manner and amounts provided for by the company’s charter. As in the case of a joint stock company, part of the organization’s net profit is transferred to it.
Deduction in reserve capital is reflected in the credit of account 82 “Reserve capital” and the debit of account 84 “Retained earnings (uncovered loss)”, subaccount 1 “Profit to be distributed”.
It should be noted that regulatory documents use different terms: in Laws No. 208-FZ and No. 14-FZ the phrase “reserve fund” is used, in financial statements - “reserve capital”. In a broad sense, reserve capital and reserve fund can be considered as synonyms, but at the same time, the use of different terms in regulatory documents in relation to one category cannot be considered a positive fact, since they should not contradict the concepts characterizing the economic life of an enterprise (organization) and used in civil law.
The report for 2011 must be submitted according to new forms of financial statements approved by Order of the Ministry of Finance of Russia dated July 2, 2010 N 66n. Reserve capital is shown on line 1360 of the balance sheet. Additional lines may be opened to the specified line, which reflect data on subaccounts: 1 “Reserves formed in accordance with the law”; 2 “Reserves formed in accordance with constituent documents” to account 82.
Let us recall that the distribution of profit, including for the formation of reserve capital, based on the results of the year belongs to the category of events indicating the economic conditions in which the organization operates after the reporting date. At the same time, in the reporting period for which the organization distributes profits, no accounting entries are made. Entries for the formation of reserve capital are drawn up after the annual general meeting of shareholders (participants) and on the basis of its decision, documented in the minutes or an extract from the minutes. However, only the protocol as a primary document for making an accounting entry is not enough, since it does not contain details that must be included in the primary document. In this case, an accounting certificate drawn up on the basis of the minutes of the general meeting of shareholders (participants) is used as the primary accounting document. Therefore, records for the formation of the reserve are made at the beginning of the next year.

Example 1. JSC with an authorized capital of 300,000 rubles. decided to create reserve capital. According to the company's charter, its size is equal to 10% of the authorized capital (300,000 rubles x 10% = 30,000 rubles). 8% of net profit is allocated to reserve capital. At the end of 2011, it amounted to 200,000 rubles. After approval of the reporting, a decision was made to allocate net profit in the amount of 16,000 rubles. (RUB 200,000 x 8%) for the formation of reserve capital.
The creation of reserve capital is documented by the following entries:
Debit 84, subaccount 1 “Profit subject to distribution”, Credit 82, subaccount 1 “Reserves formed in accordance with the law” - a reserve was created in accordance with the law - 10,000 rubles. (RUB 200,000 x 5%);
Debit 84, subaccount 1 “Profit to be distributed”, Credit 82, subaccount 2 “Reserves formed in accordance with the constituent documents” - a reserve was created on the basis of the constituent documents - 6,000 rubles. [(RUB 16,000 - RUB 10,000) or (RUB 200,000 x 3%)].
Thus, according to line 1360 of the balance sheet, the reserve capital will be 16,000 rubles.

Usage reserve capital funds are accounted for as the debit of account 82 in correspondence with accounts 84 - in terms of the amounts of the reserve fund allocated to cover the organization's loss for the reporting year; 66 “Settlements on short-term loans and borrowings” or 67 “Settlements on long-term loans and borrowings” - in terms of amounts allocated to repay bonds issued by the joint-stock company, in the absence of other funds. The use of reserve capital for other purposes is not permitted.
Despite the fact that such entries are indicated in the Instructions for the Application of the Chart of Accounts for Accounting Financial and Economic Activities of Organizations (approved by Order of the Ministry of Finance of Russia dated October 31, 2000 N 94n), as a result of these operations, loan debt does not decrease, but, on the contrary, increases, since counts 66 and 67 are passive, and their loan turnover indicates an increase in debt on loans and borrowings. This means that, in fact, no repayment of the bond issue occurs, therefore, funds from the reserve capital cannot be used to repay bonds and repurchase own shares. However, in this situation it is possible to indirectly use reserve capital funds.

Example 2. In the reporting period, the OJSC issued short-term bonds in the amount of 400,000 rubles. When they are repaid, income in the amount of 40,000 rubles must also be paid. Due to the lack of other sources to pay income, reserve capital funds were used for these purposes.
Operations are recorded in the following records:
Debit 51 “Settlement accounts” (50 “Cash”) Credit 66 - short-term bonds were placed and funds received for them - 400,000 rubles;
Debit 82 Credit 66 - reserve capital funds allocated to pay income on bonds are reflected - 40,000 rubles;
Debit 66 Credit 51 (50) - bonds repaid and income paid - 440,000 rubles. (400,000 + 40,000).

If the amount of the resulting loss is greater than the amount of accumulated reserve capital, then this excess must be covered from other sources determined by the authorized body (board of directors), for example, from retained earnings from previous years or other items of equity capital. When deciding to use reserve capital funds to cover losses, the used part of the reserve capital must be restored in subsequent years.
Reserve capital can also be written off if the organization has changed the charter and determined its size in a smaller amount than what was previously accumulated. In this case, the excessively reserved amounts are added to the retained earnings of previous years. The corresponding entry is made only after state registration of the necessary changes in the statutory documents.

Example 3. At one time, the JSC created a reserve fund in the amount of 15% of the authorized capital from net profit. Subsequently, the minimum amount of the reserve fund in accordance with Law No. 208-FZ and the charter of the joint-stock company was 5%. The organization had a question: can the amount of the reserve fund exceeding the established minimum amount be used as a source of funds to cover unforeseen expenses? As noted above, it is not possible. First, this excess must be returned to account 84 (Debit 82 Credit 84), and then you can use funds from retained earnings for the purpose of enterprise development, investments, acquisition of property, bonuses, etc.

The repurchase of own shares at the expense of reserve capital is reflected in the debit of account 82 and the credit of account 81 “Own shares (shares)”.

Example 4. The OJSC bought back 200 of its own shares with a par value of 3,000 rubles/piece.
This operation is carried out as follows:
Debit 81 Credit 50 (51) - purchased own shares were capitalized - 600,000 rubles. (3000 rub. x 200 pcs.);
Debit 82 Credit 81 - reflects the use of reserve capital funds to repurchase own shares - 600,000 rubles.

More than 10 years ago, when the financial position of newly created business companies in new market conditions was very unstable, the state stimulated the creation and increase of reserve capital, which could be some kind of insurance that increases the financial stability of the organization. In particular, one of the levers of such incentives was tax benefits. Later, the need for such government incentives was recognized as unnecessary, and income tax benefits for the formation of reserve funds were canceled from January 21, 1997.
Currently, when directing profits to form (increase) the reserve fund (capital), there are no income tax benefits, i.e. For these purposes, you can use only the net profit remaining with the organization after paying income tax. Thus, despite the obvious feasibility of forming reserve capital, many organizations neglect the benefits that it allows to obtain and do not form reserve capital, since it is actually created at the expense of the owners who own the net profit.

Accounting for reserve capital

Reserve capital differs from other components of equity capital in that not all stated purposes for its use can be realized based on accounting rules. The formation of reserve capital and the contradictions associated with its use will be discussed in this article.

Legal basis for the formation and use of reserve capital

In accordance with paragraph 1 of Art. 35 of the Law on JSCs are required to create a reserve fund in the amount provided for by the company’s charter, but not less than 5% of its authorized capital. The reserve fund of a joint-stock company is formed through mandatory annual contributions until it reaches the size determined by the charter of the joint-stock company. The amount of annual contributions is provided for by the charter of the joint-stock company, but cannot be less than 5% of net profit until the amount determined by the charter of the joint-stock company is reached.

The reserve fund of the joint-stock company is intended to cover the losses of the company, as well as to repay the bonds of the joint-stock company and repurchase the shares of the joint-stock company in the absence of other funds. The reserve fund cannot be used for other purposes.

Article 30 of the LLC Law provides that the company may create a reserve fund and other funds in the manner and in the amounts determined by the company’s charter. Since Art. 30 of the Law on LLC does not target the nature of the reserve capital; the LLC remains guided by clause 69 of the Regulations on accounting in the Russian Federation. Despite the fact that this paragraph focuses on the procedure for dividing reserve capital into subaccounts, it provides an exhaustive list of areas for spending the reserve. In relation to an LLC, reserve capital can be used:

To cover losses; to pay off bonds; to buy out shares.

Thus, reserve capital is created in JSCs and LLCs, and JSCs do this on a mandatory basis, and LLCs do it on a voluntary basis.

Reflection of reserve capital in accounting

According to clause 66 of the Regulations on accounting and financial reporting in the Russian Federation, reserve capital is included in the equity capital of the enterprise. To summarize information about the state and movement of reserve capital, the Chart of Accounts and instructions for its use provide for passive account 82 “Reserve Capital”.

Based on clause 69 of the Regulations on accounting and financial reporting in the Russian Federation, the reserve fund created in accordance with the legislation of the Russian Federation to cover the losses of the enterprise, as well as to repay the company’s bonds and repurchase its own shares, is reflected separately in the balance sheet.

The procedure for forming reserve capital

Reserve capital is formed from the retained earnings of the enterprise. Deductions to reserve capital from profits are reflected in account 82 “Reserve capital” in correspondence with account 84 “Retained earnings (uncovered loss)”.

The size of the reserve capital of the enterprise provided for is 5% of the authorized capital. The amount of annual contributions is 5% of net profit. At the time of the council meeting (03/12/2014), the authorized capital was 20 million rubles, reserve capital - 834,890 rubles; the company's net profit for 2013 was RUB 4,862,120.

According to the charter, reserve capital should be 1 million rubles.

(RUB 20 million × 5%). Using the net profit of 2013, the company can create reserve capital in the amount of 243,106 rubles. (RUB 4,862,120 × 5%). Before reaching the amount provided for by the charter, it is necessary to accrue additional reserve capital in the amount of 165,110 rubles. (1,000,000 - 834,890). The Board of Directors decided to allocate RUB 165,110 to create reserve capital. net profit for 2013.

The following entries were made in accounting:

In order to increase, shareholders (participants) of an enterprise can contribute property, property rights or non-property rights by forming funds (clause 3.4, clause 1, article 251 of the Tax Code of the Russian Federation). If the option of replenishing reserve capital is chosen for these purposes, then the operation is reflected in the debit of account 75 “Settlements with founders” and the credit of account 82 “Reserve capital”.

The shareholders of the CJSC decided to contribute 5 million rubles in order to increase the company's net assets. to the reserve capital of the company (minutes of the meeting dated 02/21/2014). Contributions were made by shareholders from 03/03/2014 to 03/06/2014.

The following entries will be reflected in the accounting records:

* For account 75 “Settlements with founders”, subaccounts other than those provided for in the Instructions for using the Chart of Accounts can be opened, for example 75-3 “Other with founders”.

General procedure for using reserve capital

As noted earlier, the reserve capital of a joint-stock company has a strictly designated purpose. In accordance with the Instructions for using the Chart of Accounts, the use of reserve capital funds is accounted for by the debit of account 82 “Reserve capital” in correspondence with accounts 84 “Retained earnings (uncovered loss)” (in terms of the amounts of the reserve fund allocated to cover the loss of the enterprise for the reporting year) and 66 “Settlements for short-term loans and borrowings” or 67 “Settlements for long-term loans and borrowings” (in terms of amounts used to repay JSC bonds).

Using reserve capital to cover losses

According to paragraphs. 12 clause 1 art. 65 of the Law on JSC, the use of reserve capital falls within the competence of the board of directors (supervisory board) of the JSC. With the preliminary approval of the annual report of the joint-stock company by the board of directors (supervisory board), a decision may be made to repay the loss from reserve capital. For accounting purposes, the use of reserve capital to pay off losses is classified as an event after the reporting date (PBU 7/98 “Events after the reporting date”).

According to clause 5 of PBU 7/98, an operation to repay a loss from reserve capital refers to an event after the reporting date, indicating the economic conditions in which the enterprise operates that arose after the reporting date. This category of events is disclosed in the notes to the balance sheet and income statement. At the same time, no entries are made in accounting (synthetic and analytical) accounting during the reporting period. That is, if an enterprise repays an uncovered loss for 2013 from reserve capital, then the postings are made in 2014. The explanations to the annual report for 2013 will indicate that the board of directors (supervisory board) decided to allocate reserve capital funds to repay the loss incurred in the reporting year 2013, and the amount of the transaction will also be reflected.

According to data for 2013, the uncovered loss amounted to 275,456 rubles. Reserve capital - 721,340 rubles. On March 12, 2014, the Board of Directors decided to cover the loss using reserve capital funds.

In accounting, the organization made the following entry:

The reserve capital funds used to cover losses in subsequent periods are restored in order to bring the reserve capital to the amount provided for by the charter of the enterprise.

Using reserve capital to pay off bonds

In the absence of other funds, reserve capital is used to pay off bonds. At the same time, the Instructions for using the Chart of Accounts propose to reflect this by making an entry in the debit of account 82 “Reserve capital” and the credit of account 66 “Settlements for short-term loans and borrowings” or 67 “Settlements for long-term loans and borrowings”. However, such an entry does not reduce the bond debt, but, on the contrary, increases it. To repay bonds, you need property, primarily cash, and the largest reserves created by the enterprise, accounted for as liabilities, will not save if the enterprise does not have money.

Generally speaking, it can be considered fair that funds and reserves strengthen the financial strength of the enterprise. Since part of the profit is not spent on paying dividends or other purposes, but is reserved, the financial situation indirectly improves. However, a company can easily lose its liquidity by excessive purchases of real estate, granting deferments to counterparties, and issuing loans. Therefore, in order for an enterprise not to have difficulties in repaying its own bonds, it is necessary, first of all, to ensure that liquid assets are available at the time of payments.

However, we will not completely write off such an area of ​​using reserve capital as paying off bonds. The fact is that, along with the main debt in account 66 “Settlements for short-term loans and borrowings” and 67 “Settlements for long-term loans and borrowings”, interest debt is taken into account (clause 73 of the Regulations on accounting and financial reporting in the Russian Federation). According to clause 11 of PBU 10/99 “Expenses of the organization”, interest paid by an enterprise for providing it with funds (credits, borrowings) for use are recognized as other expenses, which are recorded in account 91 “Other income and expenses”, subaccount 91-2 “ Other expenses". If an enterprise states that its current profit is not enough to accrue interest, then it has the right to use reserve capital, and the accounting entry will take the following form: Debit 82 “Reserve capital” Credit 66, 67, a separate sub-account for accounting for accrued interest.

There will be no contradiction with the logic of accounting in this case. However, how justified is such a posting from the point of view of the interests of the enterprise? Will this entry become a basis for tax authorities to challenge the accrual of interest on bonds to reduce the tax base? Of course, writing off interest in accounting at the expense of reserve capital does not prevent this operation from being reflected in tax accounting at the expense of expenses, but there will be no attempt from the outside to charge additional taxes. In addition, the problem of a lack of profit to repay interest on bonds can be solved by the more usual first method of spending reserve capital, directly restoring the uncovered loss at its expense. Therefore, despite the fact that the accrual of interest on bonds at the expense of reserve capital will comply with the spirit of the Law on JSC and the letter of the Instructions for the Application of the Chart of Accounts, there is no particular need for such an operation.

The company's balance sheet contains 5,000 issued bonds. with a nominal value of 1,000 rubles. for a total amount of 5 million rubles. with a maturity date of 03/12/2015. The coupon rate on bonds is 8% per annum. Due to the lack of other sources for paying the coupon, the company decided to use reserve capital funds for these purposes from 10/01/2013 to 03/31/2014. Coupon payment dates (from 10/01/2013 to 03/31/2014) - 12/12/2013, 03/12/2014.

Tax accrual for the period from September 13, 2013 to September 30, 2013: RUB 1,000. × 8% × 18 days. / 365 days = 3.95 rub.

At the time of making a decision on the use of reserve capital, the balance in account 67 “Settlements for long-term loans and borrowings”, subaccount “Coupons on issued bonds”, is recorded in the amount of 19,750 rubles. (5,000 × 3.95 rubles), which represents interest for the period from 09/13/2013 to 09/30/2013.

Tax accrual for the period from September 13, 2013 to October 31, 2013: RUB 1,000. × 8% × 49 days. / 365 days = 10.74 rub.

Coupon for accrual for the period from 10/01/2013 to 10/31/2013: 5,000 × (10.74 - 3.95) rub. = 33,950 rub.

Tax accrual for the period from September 13, 2013 to November 30, 2013: RUB 1,000. × 8% × 79 days. / 365 days = 17.32 rub.

Coupon for accrual for the period from 11/01/2013 to 11/30/2013: 5,000 × (17.32 - 10.74) rub. = 32,900 rub.

Tax accrual for the period from September 13, 2013 to December 12, 2013: RUB 1,000. × 8% × 91 days. / 365 days = 19.95 rub.

Coupon for accrual for the period from 12/01/2013 to 12/12/2013: 5,000 × (19.95 - 17.32) rub. = 13,150 rub.

Tax accrual for the period from December 13, 2013 to December 31, 2013: RUB 1,000. × 8% × 19 days. / 365 days = 4.16 rub.

Coupon for accrual for the period from December 13, 2013 to December 31, 2013: 5,000 × 4.16 rubles. = 20,800 rub.

Tax accrual for the period from December 13, 2013 to January 31, 2014: RUB 1,000. × 8% × 50 days. / 365 days = 10.96 rub.

Coupon for accrual for the period from 01/01/2014 to 01/31/2014: 5,000 × (10.96 - 4.16) rub. = 34,000 rub.

Tax accrual for the period from December 13, 2013 to February 28, 2014: RUB 1,000. × 8% × 78 days. / 365 days = 17.10 rub.

Coupon for accrual for the period from 02/01/2014 to 02/28/2014: 5,000 × (17.10 - 10.96) rub. = 30,700 rub.

Tax accrual for the period from December 13, 2013 to March 12, 2014: RUB 1,000. × 8% × 90 days. / 365 days = 19.73 rub.

Coupon for accrual for the period from 03/01/2014 to 03/12/2014: 5,000 × (19.73 - 17.10) rub. = 13,150 rub.

Tax accrual for the period from 03/13/2014 to 03/31/2014: 1,000 rubles. × 8% × 19 days. / 365 days = 4.16 rub.

Coupon for accrual for the period from 03/13/2014 to 03/31/2014: 5,000 × 4.16 rubles. = 20,800 rub.

For the period from 01.10.2013 to 31.03.2014, the following entries will be made in accounting:

			Amount, rub.
The reserve capital is used to pay coupon income on own bonds for October 2013
The reserve capital is used to pay coupon income on own bonds for November 2013
The reserve capital is used to pay coupon income on own bonds for the period from 12/01/2013 to 12/12/2013
(19,750 + 33,950 + 32,900 + 13,150) rub.
The reserve capital is used to pay coupon income on own bonds for the period from December 13, 2013 to December 31, 2013
The reserve capital is used to pay coupon income on own bonds for January 2014
The reserve capital is used to pay coupon income on own bonds for February 2014
The reserve capital is used to pay coupon income on own bonds for the period from 03/01/2014 to 03/12/2014
Coupon paid to bondholders (20,800 + 34,000 + 30,700 + 13,150) rub.
The reserve capital is used to pay coupon income on own bonds for the period 03/13/2014 - 03/31/2014

* Last working day of the month.

As can be seen from the entries, reserve capital replaces account 91-2 “Other expenses” and thereby leads to an increase in current profit, while being spent itself.

Using reserve capital to repurchase company shares

Similarly, the problem of the impossibility of recording a transaction in accounting arises when using reserve capital to repurchase shares. The Instructions for using the Chart of Accounts do not provide information on how to use reserve capital to repurchase shares. Shares purchased from shareholders are recorded on account 81 “Own shares (shares)”. If the company does not have enough money to buy back shares, then reserve capital cannot help with this. But reserve capital can become an alternative source of profit to offset the negative result from the repurchase of shares.

When redeeming shares in the event that the redemption price exceeds the nominal value of the shares, and the current profit of the enterprise is not enough to carry out the operation, the use of reserve capital for these purposes is reflected as follows:

1) repurchase by the enterprise from the shareholder of shares owned by him in the amount of actual costs - Debit 81 “Own shares (shares)” Credit to cash accounting accounts;

2) cancellation of the company’s own shares repurchased in the amount of the par value of the redeemed shares - Debit 80 “Authorized capital” Credit 81 “Own shares (shares)”;

3) attributing to reserve capital the excess of the actual costs of repurchasing shares over their nominal value - Debit 82 “Reserve capital” Credit 81 “Own shares (shares)”.

The general meeting of shareholders of the OJSC adopted a decision to reduce the authorized capital by 3 million rubles. by purchasing 3,000 shares from shareholders with a par value of RUB 1,000. for the purpose of their subsequent repayment. The shares were purchased from shareholders at a price of RUB 2,500. in the period from 02/05/2014 to 02/10/2014. Registration of changes in the charter was made on March 28, 2014. Due to the lack of profit from current activities, the board of directors of the OJSC decided to repurchase shares at the expense of reserve capital, the value of which is 8.7 million rubles.

The following entries were made in accounting:

Decrease in reserve capital

An enterprise has the right to reduce its authorized capital, which will lead to an excessively accrued amount of reserve capital, or to reduce, within the limit established by law, the size of the reserve capital itself. In these cases, the operation of reducing reserve capital is legal, which is reflected in accounting after changes in the constituent documents with the following entry: Debit 82 Credit 84 - reserve capital is reduced to the amount provided for by the charter.

The authorized capital of the CJSC is 36 million rubles, reserve capital is 5.4 million rubles. The general meeting of shareholders of the CJSC adopted a decision to reduce the authorized capital by 3 million rubles. The amount of reserve capital established by the constituent documents is 15% of the authorized capital. Registration of changes in the charter was made on March 28, 2014.

Conclusion

Reserve capital has a narrow zone of use; by and large, its only purpose is to cover the losses of the enterprise. As such, the operation of spending reserve capital to pay off losses does not affect the amount of net assets of the enterprise, but only leads to a change in the structure of equity capital. Assessing the importance of reserve capital in the life of an enterprise, we can say that this fund, although not directly or indirectly, saves money. It does not allow the profit to be spent at the moment when it is earned, but forces a portion of the profit to be reserved, mitigating in the future the negative consequences of possible losses.

In legislative and regulatory acts, both the designation “reserve capital” and the designation “reserve fund” are used, and we are talking about the same object. Since the Chart of Accounts provides for the term “reserve capital,” this article predominantly uses this spelling, except in cases where the author refers to the text of a document.

Federal Law of December 26, 1995 No. 208-FZ “On Joint-Stock Companies.”

Federal Law of 02/08/1998 No. 14-FZ “On Limited Liability Companies”.

Approved by Order No. 34n dated July 29, 1998.

Approved by Order of the Ministry of Finance of Russia dated November 25, 1998 No. 56n.

Approved by Order of the Ministry of Finance of Russia dated May 6, 1999 No. 33n.

Accounting for the repurchase and redemption of own shares is discussed in more detail in the article “Accounting for transactions of increasing and decreasing the authorized capital,” No. 3, 2014.

The reserve capital (some call it the fund) is property of the enterprise, the source of which is deductions from retained earnings. For organizations established in the form of joint stock companies, the obligation to create such funds is established by law.

Its functions

Many modern economists and accountants consider reserve capital in a simplified form. They believe that the only function it performs is protective. At the same time, there is an opinion that it is needed only to cover financial losses incurred in the process of activity. This is fundamentally wrong. We can highlight several more important functions that are performed by the funds created in the form of a reserve.

Legislative requirements for the formation of such funds allow the state to influence the activities of various types of organizations.

Today in Russia this is the way to influence enterprises created in the form of joint stock companies and companies with foreign participation.

In the process of creating capital, management personnel are encouraged to adequately assess its size. Due to the fact that this money is diverted from circulation, there should not be too much of it. The adequate size of the fund should be calculated based on the riskiness of the activity, as well as the growth of the scale of the business.

For what purposes is it created?

The directions for spending these funds are determined primarily by the legal form of the organization.

For joint stock companies, the purposes of creating reserves, as well as their other parameters, are strictly regulated by law. In this case, funds can be spent on:

• covering losses incurred in the course of business;
• in the absence of other sources for repaying bonds and organizing the repurchase of shares.

Regardless of their size, the funds created by the joint-stock company cannot be used to solve any other problems.

For other forms of business organization, there are no legislative restrictions on the areas of spending such funds. These goals are usually set out in the company's founding documents.

Dimensions

The main source of formation of this capital is the company's retained earnings. It is understood as that part of the profit that was not spent in previous periods. Most often it is used for business development.

Joint stock companies

In relation to JSCs, Russian legislation establishes not only the obligation to transfer funds to funds. Their minimum size is also clearly regulated.

Today, the amount of formed reserves should not be less than 5% of the authorized capital.

The specific value is fixed in the constituent documents. If a new organization is created in accordance with the law, it can form a fund not at once, but gradually. Then, until the established amount of reserves is reached, the company’s responsibility is to annually set aside at least 5% of the net profit received.

Limited Liability Companies

LLCs have no obligations to create reserve funds in Russia. Nevertheless, companies created in this form have the right to do so.

The organization's charter may have a clause on reserve capital. The procedure for its creation and the amount of required contributions are fixed here. Every year, after the formation and consideration of financial statements, the owners of the LLC at a meeting decide on how to distribute profits. They can use it for these purposes as well.

Companies with foreign participation

According to Russian legislation, companies created with the attraction of foreign investment are required to form such a fund. Its minimum size is determined at the level 1/4 of the authorized capital.

Accounting Features

The current regulation regulates the accounting of this capital on the passive account of the same name 82. Sub-accounts called reserve fund available and used can be opened on it. In accordance with the features of maintaining passive accounts an increase is taken into account for its credit, and a decrease in the amount of the reserve is taken into account for its debit.

Joint-stock companies can account for the following funds in this account:

• spare;
• created to corporatize employees;
• intended for payment of dividends on preferred shares;
• others created on the basis of the charter.

Other organizations account for reserve funds in this account, as well as others formed in accordance with the charter.

Accounting entries

All transactions made using account 82 can be divided into groups depending on in which direction and in connection with what the size of the fund changes:

• formation;
• spending;
• decrease.

Formation

As noted earlier, the reserve is formed from retained earnings. Therefore, such a situation is reflected in accounting as follows:

• Debit of account 84 “Retained profit/uncovered loss” - Credit of account 82 “Reserve capital”.

If the founders decide to create reserves to increase the company’s capital by contributing property or non-property rights belonging to them, the following entry is made in the accounting:

• Debit of account 75, used to account for settlements with owners - Credit 82.

Usage

If a decision is made to use reserve funds to cover losses incurred, an entry is made with account 84, which is the reverse of what was done when they were formed:

• Debit 82 - Credit 84 in terms of reflecting uncovered losses.

It is important to understand that in accounting, covering losses by spending created reserves is considered an event that occurred after the reporting date. This means that in the period for which reporting is provided, the relevant information is reflected in the explanatory note and the report reflecting profits and losses.

The corresponding entries will be generated in the next reporting year.

If such a situation arises in a joint stock company, it must subsequently make contributions to reserves until the required amount is restored.

In cases where bonds are repaid using reserve funds, in correspondence with account 82, accounts 66 or 67 are used, depending on the period for which they were issued:

• Debit 82 - Credit to account 66, intended for accounting for settlements on short-term obligations.

• Debit 82 - Credit to account 67, intended for accounting for settlements of long-term liabilities.

When the reserve is allocated for the repurchase of shares, the following block of records is formed:

• The situation of repurchase of securities is reflected in the Debit of account 81 “Own shares (shares)” and the Credit of cash accounts depending on the funds used.
• Cancellation of the corresponding shares – Debit 80 “Authorized capital”, Credit 81 for the amount of their par value.
• Attribution of the difference between the nominal value and the actual amount paid at the expense of reserves – Debit 82, Credit 81.

Decrease

In the event of a decrease in the authorized capital of an organization, it has the right to reduce the size of the reserve fund in order to bring it into compliance with the constituent documents.

In this case, after the state registration of the relevant changes is carried out, the following entries are made in accounting:

• Debit account 82 – Credit account 84.

In conclusion, I would like to note that the creation of reserves is important for any organization. At the same time, the operation of their expenditure is not capable of changing the size of net assets. In fact, it only reflects the change in the shares of various sources that form the company’s equity capital.