9. The essence and functions of finance as an economic category. The role of finance in the modern economy.

10. Financial management: necessity, content and areas of improvement.

11.Financial control in the Russian Federation. Concept, types, methods, forms and problems of its improvement.

13.Financial policy of the Russian Federation, its content and tasks at the present stage.

14. Contents of the financial mechanism, its role in the implementation of financial policy.

15.Financial regulation, its content, forms and methods.

16.Federal budget of the Russian Federation: classification of income and expenses.

17.Methods of financing the budget deficit and the main directions of using the budget surplus.

18. Budget structure and budget system in the Russian Federation, their concept and methods of budget regulation.

19. Budget process in the Russian Federation: concept, stages and their content.

20.Interbudgetary relations and problems of their development in the Russian Federation.

21. State and municipal loans, their structure and classification. General characteristics of internal and external government loans

23. State off-budget funds, their types and government policy in the field of state social off-budget funds.

24. Formation and use of the budget of the Pension Fund of the Russian Federation. Ways for its further improvement.

25. Income and expenses of the social insurance fund, their formation and areas of use.

26. The need for a loan, its essence and functions. Forms and types of credit.

27.Loan interest and its economic role. Factors influencing loan interest.

28. Banking system of the Russian Federation.

29.Tasks and functions of commercial banks and other credit organizations. Commercial bank management.

30.Banking resources and their structure. Passive and active operations.

32. Commission operations of commercial banks

33.Functions and operations of the Central Bank of Russia. Monetary policy of the Central Bank

34.Financial markets and prerequisites for their formation. Types of financial markets, their common features and distinctive features.

35. The concept of the securities market, its functions, tasks and participants.

37. Money market and capital market, their concepts, meaning and distinctive features and types of financial instruments traded on them.

38. Market of derivative financial instruments (derivatives): concept, functions and classification of derivatives. Modern features of the development of the derivatives market.

39.Structure of the securities market. Primary, secondary exchange and over-the-counter markets.

40. Contents, characteristics and investment qualities of securities. Classification of securities.

41. Shares of a joint stock company, their classification, purpose and role.

42. Bonds, their varieties, classification of bonds.

43. Stock exchange, its purpose and role in the turnover of securities.

44.Taxes, their meaning, economic essence and functions. Classification of taxes in the Russian Federation.

45. Tax system, its concept, types of taxes and ways of improvement

46. ​​Taxation, its main elements and their characteristics.

47. Direct and indirect taxes, their types and characteristics.

48.Stages and methods of financial planning and forecasting.

49.Financial resources: concept and types. Maintenance of financial resources of the state, commercial and non-profit organizations.

50. Fixed assets of the organization: concept, assessment, calculation and indicators of their use.

51. Depreciation of fixed assets: concept, methods of calculation. Moral and physical wear and tear.

52.Composition and structure of intangible assets, their depreciation.

54. The significance and methods of rationing working capital at an enterprise. Indicators of efficiency in the use of working capital.

55. Revenue from sales of products, its formation and use. Revenue growth factors.

56. Costs and prime costs for production and sales of products, their concept. Classification and cost indicators.

57.Profit of an organization, its essence, definition and indicators. Features of planning and use of profits in organizations.

58.Profitability of products and enterprises. Factors influencing profitability. Self-sufficiency and self-financing of enterprises.

59.Financial condition of the organization: essence and indicators.

62. Estimate of expenses and income of institutions and organizations engaged in non-commercial activities, its composition, content, procedure for development, approval and use.

63.Analysis and assessment of the level and dynamics of profit and profitability of the organization.

64. Accounts payable and receivable: concept, composition and analysis.

65. Marginal income, profitability threshold and margin of financial strength, their definition and role in financial management.

66.Financial reporting of an enterprise, its types and characteristics.

67. Budgeting as a tool for financial planning in an enterprise, concept, types of budgets and methods of their development.

68. The concept of insolvency (bankruptcy) of an enterprise. The main criteria for its establishment. Ways and methods of financial recovery (rehabilitation) of enterprises.

69.Operational and financial leverage: concept and definition of the effect of leverage.

70.Cash flows of an organization: concept, types and methods of generating cash flows.

71.Financial management, its essence, subject, method and goals. The main tasks of a financial manager in an enterprise.

72.Financial instruments, financial assets and financial liabilities, their concepts, types and characteristics.

73.Financial risks, their types and methods of assessment. Financial risk management system.

74.Methods for assessing financial assets, their characteristics.

76. The price of capital, methods of its assessment and capital structure.

78. Dividend policy of the organization: content, forms and procedure for paying dividends. Dividend policy and share price.

79. Long-term financial policy of the organization, its content and characteristics of the main

80. Short-term financial policy of the organization, its content and characteristics of the main directions.

81. Business plan of an investment project: stages of formation, content and characteristics of its main sections.

82.Methods of financial analysis and their characteristics.

84.Analysis and assessment of financial ratios of the organization’s market stability.

85.Analysis and assessment of liquidity, solvency and creditworthiness of organizations.

86. Time value of money and the basics of asset valuation: concept and evaluation criteria.

87.Classification of investments, their comparative characteristics. Real and financial investments, their comparative characteristics.

88. Securities portfolio, its concept, purposes of formation and classification of investment portfolios.

89.Securities portfolio management. Portfolio risk and return. Models of optimal investment portfolio.

90. Investment strategies of the organization: concept, factors and stages of formation.

91. Investment projects, their concept, classification, sequence (phases) of implementation.

92. Criteria for assessing the effectiveness of investment projects.

94. Essence, functions, meaning and types of insurance.

1. Property insurance contracts:

2. Personal insurance contracts:

95. Basic principles of organizing the insurance business. State and prospects for the development of the insurance market in Russia.

93. Leasing and its concept. Types of leasing and areas of their application. The importance of leasing in the reproduction of fixed assets.

96. The essence of international monetary relations. The world monetary system, its evolution, elements and development paths.

97. General characteristics of the foreign exchange market: concept, functions, participants, structure, main operations and development trends.

A financial asset is any asset that is: (a) cash; (b) a contractual right to receive cash or another financial asset from another entity; (c) a contractual right to exchange financial instruments with another enterprise on potentially favorable terms; or (d) an equity instrument of another entity.

Currency (cash) is a financial asset because it represents a medium of exchange and is thus the basis on which all transactions are measured and presented in financial statements. A cash deposit with a bank or similar financial institution is a financial asset because it represents the depositor's contractual right to receive money from the institution or to write a check or similar instrument for the balance of an account in favor of a creditor in payment of a financial obligation.

Common examples of financial assets that have a contractual right to receive cash in the future, and financial liabilities that have a contractual obligation to pay at a future date, are: (a) trade receivables and payables; (b) bills receivable and payable; (c) loans receivable and payable; and (d) the amounts receivable and payable under the bonds.

A financial liability is any contractual obligation to: (a) provide cash or another financial asset to another entity; or (b) exchange financial instruments with another entity on potentially unfavorable terms.

An enterprise may have a contractual obligation that can be settled either in financial assets or in the form of its own equity securities. In such a case, if the number of equity securities required to settle the liability varies with changes in their fair value such that the total fair value of the equity securities used to settle the liability always equals the amount of the contractual liability, then the owner of the liability is not is exposed to the risk of gain or loss from price fluctuations of its equity securities. Such a liability should be accounted for as a financial liability of the entity.

An equity instrument is any contract that confirms the right to a share of the assets of a business, less all its liabilities.

Examples of equity instruments are common shares, certain types of preferred shares, and warrants or options to subscribe for or purchase common shares of the issuing entity. An entity's obligation to issue its own equity instruments in exchange for another party's financial assets is not potentially disadvantageous because it increases equity and cannot result in a loss to the entity. The possibility that existing holders of an entity's equity interests may see a decline in the fair value of their interests as a result of this liability does not render it disadvantageous to the entity.

An option or similar instrument purchased by an entity that gives it the right to repurchase its own equity instruments is not a financial asset of that entity. The entity will not receive cash or other financial asset by exercising this option. Exercise of the option is not potentially beneficial for the enterprise since it leads to a decrease in equity and disposal of assets. Any change in equity reflected in an entity's accounting and as a result of the repurchase and cancellation of its own equity instruments represents a transfer of equity between those equity holders who relinquish their share of the entity's equity and those who retain their interests but not profits. or a loss for the enterprise itself.

Monetary financial assets and financial liabilities (also called monetary financial instruments) are financial assets and financial liabilities that provide for the receipt or payment of fixed or determinable amounts of money.

Fair value is the amount of money that would be sufficient to acquire an asset or settle a liability in a transaction between knowledgeable, willing parties in an arm's length transaction.

Market value is the amount of cash that can be received upon sale or must be paid to purchase a financial instrument in an active market.

Financial instruments include both primary instruments, such as accounts receivable, payable and equity securities, and derivative instruments: financial options, futures and forward contracts, interest rate and currency swaps. Derivative financial instruments, whether recognized or not recognized on the balance sheet, meet the definition of a financial instrument and are accordingly subject to IAS 32.

Physical assets such as inventories, property, plant and equipment, leased assets, and intangible assets such as patents and trademarks are not financial assets. Control of such physical and intangible assets creates the ability to ensure the flow of cash or other financial assets, but it does not give rise to an effective right to receive cash or other financial assets.

Assets similar to advances of expenditure, the future economic benefit of which is the receipt of goods or services, as opposed to the right to receive cash or another financial asset, are not financial assets. Similarly, items such as deferred revenue and most guarantee liabilities are not financial liabilities because the likely outflow of the economic benefits associated with them consists of the provision of goods and services rather than cash or another financial asset.

The concept of bank assets includes all the property of the organization, starting with accumulated finances and ending with accounts receivable. The specificity of the work of commercial institutions that operate in the financial services market is considered to be a large number of receivables of various types, which are issued in the form of loans and other types.

The bank's assets are

• property that belongs to a commercial organization;
• depositor funds that are used to make a profit;
• bank's own capital.

The bank's assets grow thanks to activities aimed at placing borrowed and own funds, and more specifically, through investment operations and lending. The main criterion for the quality of a banking asset is the profit it brings.

Banking assets usually include real estate, securities, investments, loans, as well as all other objects that can be valued in monetary terms.

Assets of Russian banks

These are not the best times for the assets of domestic banks today. In 2015, a decrease in asset growth in the Russian banking system as a whole was observed for several quarters in a row. And although this process has slowed down somewhat recently, there are still too few reasons for optimism.

From April to June, the rate of decline in banks' assets was recorded at 1.3%, which is somewhat more pleasant than the 4.1% value for the first quarter. At the same time, the increase in the second quarter over the previous four years averaged about 5%.

Analysis of bank assets

Of particular interest is the fact that the worst dynamics of asset growth are demonstrated by the largest banks in Russia. During the second quarter of 2015, institutions included in the TOP 10 rating showed a decrease in assets by 1.9%, while the remaining 760 banks lost only 0.1% of their assets. As of July 1, 2015, key players in the banking sector had 65.3% of the assets of the entire banking system of the Russian Federation at their disposal, while at the beginning of the year this value was 66.1%. Despite the negative trend in dynamics over the past few years, the country's largest banks have demonstrated a stable increase in assets.

Sale of bank assets

Due to the crisis in the Russian economy, some foreign banks are curtailing their activities in our state. According to Bloomberg, this is exactly what the Royal Bank of Scotland did. The transaction for the purchase of assets sold today took place not so long ago. In 2007, assets in the Russian Federation were acquired by the Royal Bank of Scotland through the acquisition of the Dutch bank AbnAmro in conjunction with Banco Santander and the Fortis company. The value of assets at that time was $2.5 billion. Representatives of the Royal Bank of Scotland officially confirmed the information received. Today, the financial institution plans to intensify its activities in Western Europe.

Bank financial assets

The bank's financial assets do not include equipment, buildings, land and other physical assets, i.e. so-called tangible assets. The category is formed by rights-claims, cash, as well as securities in the form of shares, bonds, bills and other documents that confirm ownership of a financial or physical asset of a legal entity.

The group of rights and claims that are understood under the term financial assets includes debt obligations of an external and internal nature of companies, individuals and the state. Options, derivatives and shares of financial institutions are usually included in this category.

Advice from Sravni.ru: An increase or decrease in the assets of the state banking system is an indicator of the state of the economy of the entire country. Careful monitoring of the state of the assets of financial sector companies helps analysts and economists make more accurate forecasts, and traders and brokers make the right decisions when working in financial markets.

Financial assets - English Financial Assets, is an intangible reflection of monetary value, which is based not on physical assets, but on contractual obligations. While physical assets such as land or real estate have a physical value, a financial asset is a document (both paper and electronic) that has no intrinsic value until it is converted into cash. The most common types of financial assets are bonds, stocks, certificates of deposit, bank deposits, etc.

One of the most common types of financial assets is the certificate of deposit ( English Certificate of Deposit, CD). It is an agreement between an investor and a bank in which the investor agrees to deposit a certain amount of money for a certain period of time and the bank agrees to return that amount and pay interest at a certain interest rate. The bank may offer a higher interest rate if the investor agrees not to claim the money for a certain period. On the contrary, if an investor demands the return of the principal amount on a certificate of deposit before its expiration, he will be subject to penalties from the bank, which, for example, may include partial or total loss of interest.

Another common type of financial asset is bonds. Bonds are often issued by corporations or governments to provide financing for short- and long-term projects. They are a type of legal document that specifies a sum of money that an investor lends to a borrower for a specified period of time, the interest rate, and how principal and interest will be repaid.

Shares are the only type of financial asset that does not have a maturity date. Investing in shares means that the investor will have a fractional ownership of the company, which gives the right to receive part of the profits in the form of dividends as long as the company exists or the investor sells his shares.

Money placed on a bank deposit is also considered a financial asset. When cash is deposited in a bank account, evidence of the funds is provided by an agreement and a bank statement showing the account balance. Cash placed on deposit is not considered a physical asset, because the bank uses this money to finance its business and undertakes to return it within the terms specified in the contract.

Valuation of financial assets involves determining the amount of cash into which they can be converted. This process is often used to evaluate the financial health of an individual or business, for example in determining their solvency or credit rating. The value of financial assets can change significantly over time. For example, stock prices typically change daily, depending on supply and demand from investors.

Financial assets usually have a maturity date that is specified in the contract. If such an asset remains untouched and is not converted into cash before that date, its value will likely increase. Cashing out financial assets before the maturity date will, in most cases, result in financial penalties for the investor because he is violating the terms of the agreement.

They represent a collection of property and values ​​involved in economic life. They are divided into several types - tangible, intangible and financial. The assessment of financial assets allows us to draw a conclusion about the current solvency of the enterprise.

Composition of financial assets

In terms of organizational management, it is generally accepted that financial assets - This a set of financial resources owned directly by a legal entity. The term is defined in IAS 32 Financial Instruments: Presentation.

Financial assets include the following components:

1. Organization's funds, including those in bank accounts and cash on hand.
2. Securities: shares, shares, equity instruments.
3. Financial investments.
4. Accounts receivable.
5. Other settlement documents.

The bulk of the financial assets of most organizations consists of cash and accounts receivable. Other tangible and intangible assets and advances received do not fall under this definition.

Accounting for financial assets

The following division is typical for financial instruments:

• non-derivatives - assets whose value is clearly defined (loans, receivables, cash);
• derivatives - their value changes periodically due to various external factors, such as exchange rates, the economic situation as a whole.

The recognition of a financial asset in accounting and the assessment of its initial cost are directly dependent on the type of asset.

Accounting and valuation of funds does not cause any difficulties. During operation, these types of financial assets are recorded at par. Detailed information on funds and their movement is obtained using accounts 50, 51, 52, 55, 57.

Accounting for securities and other financial investments occurs using account 58. If necessary, sub-accounts are opened for the account, reflecting financial investments of various types separately. The value of financial assets of this type may fluctuate periodically. The difference between the initial and minimum costs affects the financial result, bringing profit or increasing expenses. In relation to account 58, analytical accounting is maintained, which allows you to obtain data on each type of asset.

Another type of asset classified as financial is accounts receivable. From this position, financial assets are future economic benefits. Occurs in cases where goods have been shipped or any services have been provided to buyers, but payment has not yet been received.

Accounts receivable in accounting are classified by maturity into long-term (payment is expected in more than a year) and short-term (payments must be made within one year).

Depending on receipts, accounts receivable are also divided into 2 types:

1. Current - corresponds to established payment schedules, in which payments are received on time.
2. Overdue - characterized by the presence of outstanding obligations within the terms established by the contract. This type of debt, in turn, is divided into doubtful - in which there is at least a minimal probability of repayment of the debt, and bad - in which repayment cannot be expected.

In accounting, accounts receivable are reflected in accounts 60, 62, 68, 70, 71, 75, 76.

Financial Asset Market

Considering that financial assets are securities and cash, the economy has a structure that represents a market for financial assets. The object of the transactions being concluded is free funds. There are several branches in this area:

1. The credit market is most in demand in this area. Most often, organizations need to attract additional financial resources from outside. When concluding loan agreements, a number of conditions are taken into account: repayment procedure, terms, cost of borrowed funds, collateral.
2. The foreign exchange market is necessary to service transactions with foreign partners. The exchange of monetary units is accompanied by changes in exchange rates.
3. The stock market is an investment in financial assets. They involve investing money or securities in any projects that generate potential income. Currently, the stock market is an integral part of the economy. Securities allow you to participate in the management of third-party economic entities. The development of the stock market affects the macroeconomic situation as a whole.

Financial assets, having high liquidity, affect the solvency of the enterprise at the current moment. At the same time, available cash and other available financial instruments can bring additional profit.

Financial assets are company property that does not have a real physical form, the value of which is determined by the terms of the agreement concluded between the buyer and seller. These conditions can be either individual, if a bilateral agreement is signed (for example, a loan agreement), or standard, if we are talking about the circulation of instruments, the presence of mandatory details of which is determined by current legislation.

Financial assets include:

• money in cash and non-cash form;
• equity and debt securities: shares, bonds, bills;
• derivative financial instruments;
• contributions to the authorized capital of other companies;
• bank deposits;
• loans issued by the company;
• accounts receivable.

The main distinguishing feature of financial instruments is their virtual form. They have no real physical expression, but exist solely in the form of entries on the balance sheet accounts.

Often such assets are called investments, but this is not true. Investments are real investments in fixed capital or intangible assets of a company. There are also non-financial investments (for example, knowledge, skills, abilities). Financial assets are exclusively monetary investments and only for the purpose of obtaining additional profit, which is not due to the production of a new product.

For example, if the management of a metallurgical plant buys Gazprom shares with free money, this is an investment in financial assets. And if you purchase new equipment, it’s an investment. The exception will be the financial assets of a commercial bank. For him, money and financial instruments are fixed capital. That is why, in relation to such structures, there is no distinction between financial assets and investments.

Basic properties of financial assets:

1. They have no real physical form.
2. They represent claims that can be applied to the real property of economic entities that issued a particular asset: issuers of shares and bonds, borrowers under a loan agreement.
3. They have a legal basis. The procedure for their occurrence, circulation and repayment is strictly regulated by current legislation.
4. They are characterized by a certain degree of liquidity, that is, the ability to convert into cash.
5. The risk that the owner will not be able to get back the money invested.

Classification and types

All financial assets can be classified according to several criteria.

According to the degree of liquidity, they are distinguished:

1. Highly liquid. Money and assets that can be converted into monetary form without significant loss of value within a very short period of time: for example, securities that are actively traded in an organized market.
2. Liquid. Assets that can be converted into cash. But this takes time. In addition, this process may incur certain costs. These include securities traded on an organized market, but with low trading volumes, bills of exchange, accounts receivable, and bank deposits.
3. Illiquid assets. The owner has virtually no opportunity to sell or pay them off. This process is either impossible in principle or is associated with significant losses in cost. These are securities that are not traded on organized markets or do not have real quotes, bad receivables.

According to the terms of application there are:

1. Short term. With a maturity or expected sale of up to 12 months. Included in .
2. Long-term, the repayment period of which exceeds 12 months. They are part of non-current assets (more details:).

Based on the mechanism for generating income, they distinguish:

1. With an uncertain income. These include shares and derivative financial instruments, for which profits are generated due to an increase in market value. It is impossible to determine its size in advance.
2. Fixed income financial instruments. These are bonds, bills, bank deposits, interest-bearing loans. In this case, the amount of potential profit is determined based on the terms of the contract, individual or public.
3. Tools that do not generate income. These include money in accounts and accounts receivable.

There are options when financial assets bring their owner two types of income: fixed and uncertain.

Shareholders receive dividends (the amount of which can be approximately calculated based on existing statistics) and profit (or loss) from the increase in market value, which cannot be calculated in advance. Bondholders receive a coupon (interest income, the amount of which is determined at the time the security is issued), but can also receive a positive exchange rate difference if the price of the bond rises.

Based on the purpose of acquisition, financial instruments are divided into:

1. Investment. Money is invested in them in order to receive a guaranteed income after a predetermined, usually long period of time. These are bank deposits, bills, bonds, shares with an optimal ratio of dividend yield and market risk.
2. Speculative. They are purchased for a relatively short period of time with the aim of selling them at a higher price. As a rule, these are liquid shares traded on an organized market and foreign currency.
3. Transactional, the main purpose of which is to ensure the current activities of the company. A small income can be a nice addition. These include money in accounts, short-term bank deposits, accounts receivable, bills issued in payment for delivered products.

Depending on the order of reflection in accounting:

1. Measured at fair value. This procedure applies to assets whose purpose of acquisition is their subsequent resale.
2. Valued at depreciation cost. This approach is used if the asset is planned to be held until maturity or until the end of the contract.
3. Valued at face value. Their price does not change over time.

Features of valuation and accounting

The procedure for recording transactions with financial assets, provided for by Russian legislation, is as close as possible to international standards. This is quite logical. After all, in order for a company to make transactions outside the Russian Federation, it must speak “the same language” with its partners.

Financial assets are reflected in accounts 50 “Cash”, 51 “Settlement accounts”, 52 “Currency accounts”, 55 “Special accounts in banks”, 58 “Financial investments”, 76 “Settlements with various debtors and creditors”. Budgetary institutions and banks use their own chart of accounts.

All financial assets can be divided into three groups:

1. Accounted for at nominal value.
2. Accounted for at fair value.
3. Accounted for at amortized cost.

The first group is money. How much money a company has in its current account is reflected in its accounting accounts. They do not generate income, the risk of loss is minimal, and their value does not change over time.

fair value

The second group includes assets for trading:

1. Financial instruments intended for short-term investment.
2. Instruments that are part of a portfolio under active personal management. The company's goal is to buy, sell quickly and make additional profit.
3. Derivative financial instruments.

Also included in this group are assets that, at the time of acceptance for accounting, are recognized by the company as measured at fair value with their valuation included in operating profit or loss (assets available for sale).

It is very important that the company has the ability to determine a fair price. It refers to the amount that an enterprise can receive when selling an asset as a result of concluding a transaction on general terms between well-informed parties interested in this transaction.

As a fair price, according to IFRS, quotes from an active market that meet the following conditions are recognized:

• assets traded on such a market are homogeneous (the conditions for their issue and circulation are standardized);
• at any time, any participant is able to find a counterparty to conclude a transaction;
• information about concluded transactions (volume, price, settlement terms) is publicly available.

The company independently determines the market, the prices of which will be accepted as fair, regardless of where it actually enters into its transactions. For example, shares can be purchased on the MICEX and valued at RTS prices, provided that the company also has technical access to it.

Example. On September 24, the company bought 100 shares of OAO Gazprom at 146 rubles. On the balance sheet it will look like this:

Dt 76 Kt 51 14,600 rub. – transfer of funds in payment for shares;

Dt 58 Kt 76 14,600 rub. – placing shares on the balance sheet.

On December 31, the price of one share of OAO Gazprom on the MICEX was 154 rubles. This means that the company’s profit is 8 rubles. per share. If an asset is accounted for at fair value, the following entries will be made:

Dt 58 Kt 91,800 rub. – reflects a positive revaluation of shares.

If the share price falls to 132 rubles, a loss will be reflected:

Dt 91 Kt 58 1,400 rub.

In this case, the account for accounting for financial investments will always reflect the current market value of the shares. The result, both positive and negative, is included in operating profit (loss).

Depreciation accounting

The third group includes:

1. Assets held to maturity.
2. Assets for sale.
3. Bills, loans and deposits.

The main feature of held-to-maturity assets is that they have a predetermined maturity date during which the asset holder receives fixed payments. A striking example is corporate and government bonds. The important point is that the company must not have any intention of disposing of the asset before its maturity. Such investments are valued based on amortized cost.

Amortized cost is calculated using the formula:

A = STp – B + (-) A + (-) K – P, where

A – amortized cost;

STp – the value of the asset or liability at the time of placement on the balance sheet;

B – payments on the principal debt;

A – depreciation calculated at the effective rate;

K – exchange rate difference resulting from changes in the market value of the instrument (if any);

P – reserve for depreciation.

If a company sells an asset classified as held-to-maturity well before its maturity date, it will not be able to further build a “to-maturity” portfolio. The remaining assets should be classified as “for sale”.

The category “assets for sale” is often used by Russian companies. Our stock market is young, there are not many reliable companies with a long-term positive history of raising capital. Therefore, investors can rarely say with confidence that they are ready to hold this or that asset on their balance sheet until maturity (which will occur in 3, 5, or even 10 years).

Assets for sale, if desired, can be sold at any time, if this is justified based on the current situation in the financial market, or due to internal reasons (cash gaps, losses, etc.). They can be valued at fair value, at amortized value, or by combining these two approaches: reflecting revaluation and discounting future guaranteed payments. The financial result is taken into account when calculating the company's equity capital.

Promissory notes, loans and deposits are also recorded at amortized cost. It does not matter whether the company itself is a creditor, or whether it simply purchased the debt from third parties.

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Stock trading tax: how it is calculated and by whom it is withheld. Filling out and submitting a declaration in form 3-NDFL. Benefits and tax deductions