The net assets of an LLC characterize the financial state of affairs of the company, this indicator is necessary when assessing the profitability of an LLC, with an increase or decrease authorized capital LLC, and is also taken into account when paying the actual value of the shares to participants upon withdrawal or exclusion from the LLC.

The net assets of an LLC are the book value of the company's property, reduced by the amount of its liabilities, that is, the real value of the property that the LLC has, not burdened with obligations.

The LLC is required to value its net assets:

• annually before the next annual general meeting of LLC participants. The annual report of the LLC contains a section on the state of net assets (Federal Law No. 14-FZ of February 8, 1998 "On Limited Liability Companies", hereinafter referred to as the LLC Law);
• before the LLC makes decisions that depend on the value of net assets, for example, before holding an extraordinary meeting of the LLC on the distribution of net profit, before paying a share to an LLC participant in the event of withdrawal from the company (clause 8, article 23 of the LLC Law), before making a major transaction by the LLC (Article 46 of the LLC Law) and other cases.

The annual report of the LLC must contain indicators characterizing the dynamics of changes in the value of the net assets and authorized capital of the LLC:

• for the last three financial years, including the reporting one, if the LLC has existed for more than 3 years;
• for each completed financial year if the LLC is less than 3 years old.

If the value of the LLC's net assets turned out to be less than its authorized capital, the LLC's annual report also includes:

• the results of the analysis of the reasons and factors that, in the opinion of the sole executive body, the board of directors of the LLC, led to this,
• a list of measures to bring the value of the LLC's net assets in line with the size of its authorized capital.

The value of the company's net assets (excluding credit organizations) is determined from the data accounting in the manner prescribed by the authorized Government Russian Federation federal executive body (clause 2, article 30 of the LLC Law).

Earlier, the Ministry of Finance of Russia recommended applying the Procedure for estimating the value of net assets of joint-stock companies to calculate the value of the net assets of LLC, approved. The Ministry of Finance of Russia and the Federal Securities Commission of Russia dated January 29, 2003 No. 10n, 03-6 / pz (see the Ministry of Finance of Russia dated May 13, 2010 No. 03-03-06 / 1/329, dated December 7, 2009 No.).

Currently, the Procedure for determining the value of net assets, approved. of the Ministry of Finance of Russia dated August 28, 2014 No. 84n (hereinafter referred to as the Procedure), paragraph 1 of which expressly provides for the possibility of its application in relation to LLC.

The value of the net assets of an LLC is determined according to accounting data as the difference between the value of the assets and liabilities of the company accepted for calculation (clauses 4, 7 of the Order). A negative value of net assets means that the amount of LLC's debts exceeds the value of the company's property.

If, at the end of the second or each subsequent financial year, the value of the net assets of the LLC turns out to be less than its authorized capital, the company is obliged, in the manner and within the time period provided for by the Law on LLC, to increase the value of net assets to the amount of the authorized capital or to register, in the prescribed manner, a decrease in the authorized capital. If the value of the net assets of the company becomes less than the minimum amount of the authorized capital (10,000 rubles - clause 1 of article 14 of the LLC Law), the company is subject to liquidation (Civil Code of the Russian Federation as amended on 05.05.2014 No. 99-FZ).

The term for the LLC to make a decision to reduce the authorized capital to an amount not exceeding the value of its net assets is six months after the end of the relevant financial year (clause 4, article 30 of the LLC Law).

The period during which the increase in the value of net assets must be carried out is not established by law. Does not establish a law and a special procedure for increasing the value of the company's net assets up to the size of its authorized capital. It should be noted that it is possible to increase the value of net assets by making contributions to the company's property by participants, since such contributions do not change the size and nominal value of their shares in the authorized capital. However, the obligation to make contributions based on the decision of the general meeting of participants must be provided for by the charter of the company (Article 27 of the LLC Law).

The financial year corresponds to the calendar year and lasts from January 1 to December 31 (Budget Code of the Russian Federation). Within the meaning of the Civil Code of the Russian Federation, p.p. 3, 4 art. 30, paras. 6 p. 2 art. 33, Art. 34 of the LLC Law, the financial year should be understood as the year following which the annual results of the company's activities are approved (in particular, the annual balance sheet) and the value of its net assets is determined. Since the company's obligation to keep records arises from the date of its state registration, and the determination of annual performance results is also possible based on the results of the calendar year during which the company was established (, Federal Law of December 6, 2011 No. 402-FZ "On Accounting") , the first financial year of the company for the purposes of applying the rules of the Civil Code of the Russian Federation can also be understood as the year the LLC was created.

If the company fails to take the necessary measures to bring the value of net assets in line with the size of the authorized capital or fails to make a decision on liquidation, the company may be liquidated by a court decision (the Civil Code of the Russian Federation).

In practice, courts sometimes consider a decrease in net assets as a sign of the deteriorating financial condition of an LLC. If at the same time no damage has been caused to the rights and legitimate interests of creditors and third parties, and the LLC is operating, quarterly submits to the tax and financial statements, fulfills the obligation to pay taxes on time, then the courts refuse to satisfy claims for the liquidation of the LLC (see, for example, the Federal Antimonopoly Service of the North Caucasus District of December 16, 2010 in case No. A53-3538 / 2010).

Information on the value of the net assets of an LLC is subject to mandatory entry into the Unified Federal Register on the facts of activity legal entities(hereinafter - Fedresurs) in cases provided for by the Law on LLC (subclause "l", clause 7, article 7.1. dated August 8, 2001 No. 129-FZ "On State Registration of Legal Entities and Individual Entrepreneurs"). An LLC is obliged to provide access to information on the value of its net assets to any interested person (clause 2, article 30 of the LLC Law). The information contained in the Fedresurs is posted on the Internet at the following address: http://www.fedresurs.ru.

The ultimate goal of entrepreneurial activity is to obtain economic profit. Therefore, the key category that characterizes the efficiency of the company is profit, which is part of the company's net assets. Net assets allow you to evaluate financial condition organizations.

The net asset value on the balance sheet of an enterprise is the monetary value of a firm's assets less all liabilities.

Data for determining the value of net assets are taken from the balance sheet. According to the order of the Ministry of Finance of the Russian Federation dated August 28, 2014 No. 84n, assets and liabilities taken into account to determine the value of net assets must comply with the requirements of the above standard, as well as the standards of the corresponding RAS.

In this case, the net asset value, according to the formula:

CHA \u003d (A - Ouf - Ra) - (P + T - D);

• NA - net assets
• A- assets
• Ouf - liabilities payable to the authorized capital
• Ra is the company's cost of buying its own shares.
• P - liabilities
• T - transfers
• D - deferred income accepted for accounting;

will be equal to:

12 785 – 12 257 + 18 = 528 (thousand rubles) (an error was made in the report).

The ratio of this indicator with the value of the authorized capital

It is necessary to compare the value of net assets with the size of the authorized capital when calculating dividends that are payable to shareholders.

If the net assets of the enterprise are less than the minimum allowable value of the authorized capital (for LLC - 10 thousand rubles, for CJSC - 10 thousand rubles, for OJSC - 100 thousand rubles), then such a company is subject to liquidation within the time limits established by law.

But the court may decide that the company can continue its activities even with a negative net assets indicator, if there is evidence that the company is viable, and its violations are either insignificant, or their consequences have been leveled.

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Analysis of the state of the net assets of the enterprise

The study of this indicator consists of:

• Monitoring the value of net assets over time. In order to have a complete picture of the financial condition of the enterprise, it is necessary to know the dynamics of this indicator. Based on this information, conclusions are drawn about the factors influencing changes in the value of net assets.
• Estimates of materiality of changes in net assets. As a rule, an increase in the number of net assets is accompanied by an increase in the value of total assets. This means that the turnover of the company is growing. However, the growth of total assets does not always correspond to the growth of net assets (if, for example, financing was carried out from borrowed sources).
• Estimates of the utility of spending net assets. At this stage, the indicators of turnover, as well as profitability, are examined.

The indicator under consideration serves as a basis for analyzing the profitability of the organization, its liquidity and, in some cases, the prospects for its further development. The value of net assets gives management the opportunity to draw conclusions about the solvency of the enterprise, as well as the prospects for diversification (increasing turnover, or opening a new direction).

What is a balance sheet? Sample filling and step-by-step instruction on the design of this document contains

How can this figure be increased?

A firm's net assets can be increased by taking the following steps:

• Control over the debts of the founders.
• Formation of additional capital from the difference between the nominal and real share price.
• Optimization of the structure of fixed assets.
• Increase in capital turnover ratios.
• Increasing the performance of the use of reserves, debts and investments of the company.

Obviously, net assets play a crucial role in analyzing the financial condition of a company.

However, do not forget about other financial indicators . Only a complete set of financial instruments can provide the user with detailed and reliable information about the organization's solvency.

Thus, the role of the indicator under consideration can hardly be overestimated: it reflects the fulfillment of the main task of entrepreneurial activity - making a profit. The process of calculating this indicator has its own unique characteristics. And its increase can be achieved in different ways.

You can learn about how net assets and company value correlate in the following video tutorial:

ruble, thousand rubles, million rubles, billion rubles

Explanation of the essence of the net asset value indicator

Net assets (English analogue Net assets) - the sum of assets minus the company's liabilities. This indicator allows you to roughly understand the value of the company in the event of its immediate liquidation. Of course, the real market value of individual assets may be understated or overstated compared to the book value. However, this indicator is used in the absence of access to the company's internal reporting.

Normative value of the net asset value indicator:

Lenders use the indicator to roughly assess the level of their security. The value of net assets equal to zero or lower will indicate a high risk when lending to a company, because in the event of bankruptcy, not all requirements of interested parties will be satisfied. High positive value(relative to the total amount of assets) can be considered normative.

The calculation of this indicator is regulated by the order of the Ministry of Finance of Russia dated August 28, 2014 N 84n.

Directions for solving the problem of finding an indicator outside the normative limits

It is possible to resume the growth of net assets only in the conditions of the resumption of profitable activities. The reserve for reducing costs and increasing the amount of income can be found in all areas of the company.

Calculation formula:

Net assets \u003d Assets - Current liabilities - Long-term liabilities - Accounts receivable of the founders for contributions to the authorized capital + Deferred income arising in connection with the gratuitous receipt of property and state assistance

Net assets = Assets (excluding accounts receivable of the founders on contributions to the authorized capital) - Liabilities (excluding deferred income arising from the gratuitous receipt of property and state aid)

Notes:

1. Off-balance sheet assets and liabilities are not taken into account when calculating net assets.

2. Indicators such as "Deferred income arising from gratuitous receipt of property and state aid" and "Accounts receivable of the founders for contributions to the authorized capital" are usually not reflected in the balance sheet of companies.

Calculation example:

JSC "Web-Innovation-plus"

Unit of measurement: thousand rubles

Balance	On 31 12 2016	On 31 12 2015
Assets
I. NON-CURRENT ASSETS
TOTAL FOR SECTION I	786	634
II. CURRENT ASSETS
Accounts receivable	6	7
- accounts receivable founders on contributions to the authorized capital	0	0
TOTAL FOR SECTION II	497	465
Balance	1283	1099
Liabilities
III. OWN CAPITAL AND RESERVES
TOTAL FOR SECTION III	653	534
IV. LONG TERM DUTIES
TOTAL FOR SECTION IV	105	106
V. SHORT-TERM LIABILITIES
revenue of the future periods	6	5
- deferred income arising in connection with the gratuitous receipt of property and state assistance	0	0
TOTAL FOR SECTION V	525	459
Balance	1283	1099

Net asset value (2016) = 1283 - 105 - 525 = 653 thousand rubles.

Net asset value (2015) = 1099 - 106 - 459 = 534 thousand rubles.

The amount of net assets is growing during 2015-2016. from 534 thousand rubles. to 653 thousand rubles, which indicates an increase in the welfare of investors, an improvement in the protection of creditors. Thus, the financial position of the company becomes more stable. JSC "Web-Innovation-plus" should continue to work in the same direction.

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-owned 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 is it? 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.

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: “Calculating the value 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 lead to the liquidation of the enterprise in court. 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 can be seen from the figure below, net profit decreased in 2014, which in turn affected the value of net assets and financial condition.

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

IN 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 value of net assets is an important indicator of 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 financial stability but also the level of investment attractiveness. Subscribe to express mailing list financial analysis enterprises.

Net assets (NA) is the real value of all the company's property, fixed assets and cash. In simpler terms, they represent the residual amount of own assets that are not burdened with obligations.

The indicator is calculated every year by enterprises of all organizational and legal forms. NA is calculated when organizing, doing business and is the main criterion for financial well-being, solvency, and the degree of risk of ruin of the company.

Procedure and examples of calculation

The procedure for calculating the value is approved by legal documents and instructions. The calculation is done quarterly and annually on the reporting date with the recording of the results obtained in the relevant documents.

The following are used in calculations:

• Non-current assets are fixed and intangible assets, long-term financial investments.
• Current assets are cash, accounts receivable, securities, production, inventory, etc.

When adding assets, the company's expenses for the acquisition of its own shares from the co-owners of the business and the debt of participants for investments in the authorized capital are excluded.

The liabilities involved in the calculation include:

• debt to co-owners for the payment of dividends;
• earmarked funding and income;
• other long-term liabilities, including deferred tax payments;
• credits, loans, etc.

When adding liabilities, deferred income is not taken into account. And only those that are recognized by the company in connection with the receipt of gratuitous property or assistance from the state.

The formula looks like this:

CHA \u003d (A - ZU - ZVA) - (P - DBP), Where:

• NA - net assets;
• A - assets;
• ZU - the debt of business participants on contributions to the authorized capital;
• ZVA - the cost of acquiring the company's own shares from co-owners;
• P - liabilities;
• DBP - deferred income.

The amounts for calculation are taken from the enterprise, where liabilities are recorded in lines 1400 and 1500, assets - in line 1600. You will also need the debit value of account 75, which reflects the participants' debts on contributions to the authorized fund, and line 1530 data - deferred income.

Calculation algorithm for balance sheet looks like that:

NA \u003d (str 1600 - mid 75) - (str 1400 + str 1500 - str 1530)

Example

The balance sheet of Sibiryak LLC as of November 01, 2015 is presented in the following table:

Balance indicators	Balance data
ASSETS
1. Non-current assets (1st part)	1 599 500
residual value of fixed assets	999 300
capital investments in construction in progress	455 150
long-term financial investments
2. Current assets (2nd part)
reserves	145 200
accounts receivable	525 600
including debts of co-owners in the authorized capital	35 850
cash	630 250
LIABILITY
3. Capital and reserves (3rd part)
authorized capital	125 300
retained earnings	1 250 300
4. Long-term liabilities (4th part)
long-term loans	745 300
5. Current liabilities (5th part)
short-term loans	268 300
debt to the budget	95 600
other current liabilities	1 520 600

• Asset value: 3,919,150 = 1,599,500 + 999,300 + 455,150 + 145,200 + 525,600 + 630,250 - 35850.
• The amount of liabilities: 2,629,800 = 745,300 + 268,300 + 95,600 + 1,520,600, the calculation does not include data from the 3rd part of the report.
• NA \u003d 3,919,150 - 2,629,800 \u003d 1,289,350.

Based on the calculation, the net asset value of Sibiryak LLC as of November 1, 2015 is 1,289,350 rubles.

Detailed information about this indicator you can learn from the following video:

Analysis of the results

The resulting value determines the solvency of the organization, profitability, and sometimes further development. From the indicator one should judge the possibility of the company repaying its obligations, investing in the expansion of production or opening new directions.

That's why the normal value of net assets must be positive. When the NA is negative, the firm is said to be insolvent, dependent on loans and having no income of its own. The higher the indicator, the more solvent and attractive for investors this company is.

Indicator analysis includes:

• Monitoring of changes in the size of the NA, for this they are compared to the start and end dates reporting period. And already on the basis of the results obtained, the reasons that contribute to the increase or decrease of own funds are revealed.
• An assessment of the reality of the NA dynamics is used to calculate the proportion of net and total assets at the beginning and at the end of the reporting period. A large increase in the indicator at the end date is associated with an increase in total funds, and the increase in NA is actually insignificant.
• Evaluation of the efficiency of use. It is determined by calculating and studying the turnover and profitability ratios.

Since, during the analysis, this value is compared with data on revenue and net profit for the year, it is more correct to use not a fixed figure of net assets at the end date, but the average value for this period in calculations.

Comparison with authorized capital

In addition to dynamic analysis, after the first year of operation, the enterprise is obliged to regularly compare the value of net assets and the authorized capital. The legislation establishes that the size of the NA must be greater than the authorized capital.

If the reverse trend is revealed in the calculations, this greatly increases the risk of bankruptcy of the company, and legal documents order to reduce the authorized capital to the size of NA. If its monetary volume is already minimal, the enterprise is obliged to announce its liquidation. However, the current legislative document defines the following:

• Even in cases where the value of net assets is actually less than the authorized capital, the company can remain solvent, conduct financial activities for a certain period of time and strictly fulfill its debt obligations.
• Requirements to reduce the size of the authorized capital or liquidate the organization are considered interference in its activities, in addition, the enterprise can be declared that it will protect the interests of creditors.

Ways to increase the indicator

Regular and thorough study of NA allows you to find ways to increase them, such as:

• improving the composition of fixed assets;
• sale or destruction of unused property and equipment;
• increase in the volume of goods sold by improving product quality, expanding sales channels, changing pricing policy, using new ideas and solutions;
• increasing the effectiveness of control over stocks, debts and investments of the company.

Net assets are the most important indicator of a company's performance. The main goal of a competent and timely analysis of financial data is the ability to prevent and avoid undesirable situations in the activities of any organization.