In the modern economic market there are more and more new organizations. They have various forms of ownership, engage in peculiar types of activities and are in certain taxation regimes.
Types of Organizations
There are many legal entities and individuals who are engaged in business activities in Russia. These are IP, LLC, OJSC, CJSC and many others. All these enterprises differ from each other, but there are similarities. According to certain criteria, the type of organization is selected, which continues to operate at the entire stage of the company. But in this article we will focus on OJSC. This is a certain type of organization with its own regulations, rules and reporting.
Forms of ownership of enterprises
As mentioned earlier, organizations are of various types: OAO, ZAO, LLC, IE, partnerships, private entrepreneurs and many others. This is all called forms of ownership. But due to the fact that this article deals specifically with OJSC, let's talk about it.
OJSC - the form of ownership, the most strictly regulated. There are a lot of requirements for such organizations, but they have their own advantages. They consist in the fact that the company can produce its own shares and sell them. And here it doesn’t matter to whom. It can be either one of the founders of the company, or any other investor who wants to become a shareholder. The purchase of shares takes place at the highest price (whoever pays the most, that becomes their owner). Thus, it is possible to increase the investments of participants in the activities of the company.
However, there are also disadvantages. Unlike all of the above forms, members of the company are fully accountable to the organization. This means that if the company makes a profit, then it can be distributed among shareholders, but if a loss occurs, then all participants incur losses, that is, they must pay all debts.
I would also like to note that the number of shareholders in the company is not limited.
What is OJSC
So, let's figure out what constitutes an open joint stock company. OJSC is an organization created by several participants (shareholders) who invested their money in the form of shares in the authorized capital of the company.
As in any new organization, initial investments in the enterprise are necessary for a start. For this, several people (it doesn’t matter if it will be a legal entity or an individual) are united in one group and begin registration of the enterprise. Due to the fact that the authorized capital consists of shares of each participant, it will be the joint-stock company that will be the form of ownership.
Next, you need to find out whether the company will be: open or closed. The difference lies in the fact that in the CJSC, the shareholders are solely the founders of the company, and in the OJSC, any physical or legal persons can be shareholders, regardless of whether they are founders or not.
What are OJSC shares
As mentioned earlier, the authorized capital of the company consists of shares of the founders of the company. However, not all people understand the meaning of the word "share". So, a stock is an equity security that is provided to a person or company in return for the amount of money contributed to the initial capital of a new organization.
There are two types of shares: ordinary and preferred. The difference between them is that the holder of the preferred share has a guarantee of stable income from the company’s activities and the initial receipt of dividends when they are distributed. However, regardless of the type of share, a participant in an OJSC has the right to vote at a general meeting. One share equals one vote.
Thus, the founders of a company create a block of shares that shows the significance of who it belongs to.
Activities
Regardless of the form of ownership of the organization, the company can engage in any type of activity. That is, there is no difference in how the company is registered, this does not affect further development. Only the taxation regime depends on the type of work chosen. And OJSC is an organization that can be in any mode, the legislation of the Russian Federation does not impose restrictions on this.
Accounting in OJSC
OJSC are commercial organizations. From this it follows that all accounting at such firms is conducted according to the general chart of accounts and rules. The only thing you should pay attention to is the Law on Joint Stock Companies. It describes in detail the conduct of business and accounting in OAO.
So, in order for the company to start working, it is necessary to draw up an accounting policy for the company and a working chart of accounts. Next, the initial capital of the company is entered into the balance sheet. Then the work itself begins. All expenses and income are recorded in certain accounts, as described in PBU. At the end of the year, all income is transferred to account 99, and then to 84. That is, there are no differences in accounting.
The record is double: one amount is indicated in the debit of one account and the credit of another. Revised balance sheets are drawn up, etc. At the end of the year, financial statements consisting of 5 forms are prepared.
General Meeting of Shareholders
At the beginning of the new calendar year, a meeting of all the founders of the company is held. This is called the annual meeting of shareholders. After the end of the financial year, all members of the company gather in the company to find out the problems in the organization. At one table, all people look at the company's statements, sign it, identify inaccuracies, pros and cons of the past year. Also at this meeting, a decision is made on the distribution of profits. However, in order for the meetings to take place, before the end of the calendar year, a list of issues that should be considered by the shareholders is compiled, and all participants are notified about them. After the consent or rejection of the founders. If someone refused, the meeting may be rescheduled to another date. Only in this way is it necessary to collect all shareholders.
However, participants can gather more often. This is called an unscheduled meeting. At such events, issues that cannot be left for later are dealt with. An unscheduled meeting should be convened either by the director of the company, or certain of its founders who are engaged in conducting activities.
Enterprise Reporting
And finally, it is necessary to say about the statements of OJSC. It is strictly regulated by law. Large fines are imposed for violations, the main thing here is not to be mistaken. But first things first.
The reporting of the company begins with the closure of company accounts. This is done according to the rules of accounting. Next, the reporting itself is formed, which is mandatory for all organizations. However, the JSC draws up full reporting, without reductions and omissions. A distinctive feature of OAO reporting is that it is leased quarterly. But compiling it every three months is only necessary for shareholders so that they can track the receipt of profits and expenses of the enterprise. For the tax service reporting is submitted once a year. But that’s not all.
OJSC must necessarily conduct a regular audit at the end of the year. For this, a contract is drawn up with a third-party organization to verify the correctness of accounting and tracking errors, if any. Only after this is the reporting considered complete.
But even in this form it is impossible to take it. It is necessary to collect the annual meeting of shareholders and submit reports to them. Society members must sign it. Only after this, reporting can be submitted to the tax authority at the place of registration.
And a few words about the publication of reporting. OAO are required to publish it on their website. Otherwise, the organization is fined. It is necessary to put on the Internet five forms of reporting along with an audit report.