Экономические науки/7. Учет и аудит

Samarina I.P., Masko L.V.

Polotsk state university, Byelorussia

Development of accounting of housing bonds as one of kinds of corporate securities

The program of development of the market of corporate securities on 2008 - 2010 »confirmed by the Decision of Ministerial council RB and National Bank RB №164 from 22.12.2006г. In our country provides stock market activization. Release by subjects of managing of securities, their acquisition at other organizations, causes necessity of formation and reception full and trustworthy information about financial tools of subjects of managing.

One of kinds of corporate securities are housing bonds which can involve investors as means of financing of building of habitation. It is necessary to notice that in registration practice of Byelorussia a number of the standard documents reflecting release, the reference and repayment of the given corporate securities is accepted. But at the same time there are problems on reflection of the given tools in the accounting which decision will allow to bring into accord the terminology applied in standard documents under the account, to generate full and trustworthy information about the corporate securities, necessary for carrying out of the analysis of economic activities and acceptance of administrative decisions.

In this connection studying of economic essence and classification of corporate securities for accounting is represented actual.

Now in standard – legal certificates of Byelorussia on accounting there is no concept definition «corporate securities». Moreover, indirect definition which can be deduced from the acts regulating a uniform order of release and the reference of financial tools, leads to a term ambiguity «corporate securities» by criterion of the emitter. At the same time these securities are reflected by subjects of managing of Byelorussia in turnaround actives irrespective of reference term. In our opinion, it leads to distortion of the data of the accounting necessary for carrying out of the analysis, absence of the unified information, and also decrease in quality of the accounting reporting.

The analysis of the economic literature has allowed to allocate three basic approaches to essence of concept «corporate securities» depending on the emitter (see tab. 1)

Table 1 – Approaches to definition of economic essence of corporate securities

Sources of the literature	Definition
I.E.Glushkov, D.A.Endovitsky, N.A.Ishkova, etc.	Corporate securities are securities which are issued by legal bodies: joint-stock companies and limited liability companies
V.D.Kovaleva, V.V.Hisamudinov, Т.А Batjaeva, I.I. Joiners, V.I.Kolesnikov, C.V. Torkanovsky, etc.	Corporate securities are securities which are issued by the nonstate organizations and private persons
V.A.Lyalin, P.V.Vorobev, G.A.Mahovikova, A.S.Selishchev, S.K.Mirzazhanov, etc.	Corporate securities are securities which are issued by the emitters who are not concerning the state and municipal controls

Source: [1, p.340; 2, p.15; 3, p.15; 4, p.36; 5, p.10; 6, p.52; 7, p. 40]

Leaning against all above-stated, us definition of economic essence of corporate securities, as object of accounting is offered the following: securities, the legal bodies of the share property collectively owning the capital (corporations) [own definition].

Offered definition will allow to bring into accord the terminology applied in standard documents on accounting, and also will promote formation, reception of the full and authentic registration information on financial tools.

At the same time, according to regulatory legal acts of Byelorussia for accounting all securities are classified on «intended for trade» and «kept before repayment» [10]. Having investigated books of accounts and forms of balance sheets of Latvia, Moldova, Poland, Ukraine, it is possible to draw a conclusion that financial tools are classified depending on reference term on long-term and short-term (table 2).

Proceeding from the conducted research, it is obviously necessary to classify corporate securities in Byelorussia, considering term of their reference. Thus, the information on them will be reflected in turnaround and extraturnaround sections of the balance sheet that will allow to organize their analytical and synthetic account at higher level, and also to receive the unified information for a wide range of the users, corresponding to the International standards of the financial reporting. Now the special urgency is got by housing bonds which are one of ways of financing of building of habitation.

Since October, 1st, 2009 the Instruction about an order of release, the reference and repayment of the housing bonds, confirmed by the decision of Ministry of Finance RB from 18.09.2009 № 115 which establishes features of release and the reference of the given tools from the investor and the emitter has come into force. However the accepted regulatory legal acts don't regulate an order of reflection of the given kind of corporate securities in registration practice of the investor and the emitter.

It is necessary to notice that on balance of the emitter housing bonds are registered as financial obligations, are reflected in a passive of balance and depending on reference term are considered on accounts 66 "Calculations under short-term credits and loans" and 67 "Calculations under long-term credits and loans".

The investor of housing bonds are citizens of Byelorussia, foreign citizens and persons without the citizenship, living there, and also the legal bodies registered in given territory [11]. From the point of view of the investor the housing bond is a long-term or short-term financial investment of money resources which the legal body intends to keep before term of repayment of a security. At the same time, according to the Instruction on application of Typical book of accounts the account and movement of financial investments in housing bonds will be carried out on account 58 «Short-term financial investments» and 06 «Long-term financial investments» [12].Being guided by Typical book of accounts of accounting and the instruction on its application, in table 3 the offered technique of the account of long-term and short-term housing bonds at the enterprise-investor is presented.

Table 3 - the Offered technique of the account of housing bonds at the investor

The maintenance of operation	the Debit	the Credit
Acquisition of housing bonds	58 (06)	76
Payment of housing bonds	76	51
Repayment of housing bonds by transfer of object of building	08/10	58, 06
The house finished by building is accepted in operation	01	08/10
Cost of realized building object is written off	01	01
The gain from the apartment house realization, received from workers of the enterprise or buyers is reflected	62, 76, 73	91
The financial result from realization is defined	91-9, 99	99,91-9

Source – own working out.

For the first time the offered technique of the account of housing bonds at the investor will allow to provide formation of the authentic registration data about the let out housing bonds necessary for the purposes of management.

Substantive provisions and the recommendations received as a result of conducted research, can be used in practice of the account of housing bonds by emitters and investors that will allow to approach domestic system of the account to international, and also will provide its conformity to market economy requirements.

THE LITERATURE

1. I.E.Glushkov. Accounting at the modern enterprise. The effective grant on accounting. - Novosibirsk, «ЭКОР», 1999г.

2. Endovitsky D.A.account of securities: the manual / D.A.Endovitsky, N.A.Ishkova; under the editorship of prof. D.A.Endovitsky. – 2 изд., has erased. – M.:КНОРУС, 2007. - 336 with.

3. Kovaleva V. D. The account, the analysis and audit of operations with securities: V.D.Kovaleva, V.V.The Hisamudinov. Th's educational grant/.: КНОРУС, 2008. – 208с.

4. Batjaeva T.A., I.I.securities market's Joiners: Studies. The grant. – TH.: INFRA TH, 2006.-304с.

5. Securities: the Textbook / under the editorship of V.I.Kolesnikova, Century With Torkanovsky – М: the Finance and statistics, 1998. – 416 with.:ил.

6. Lyalin V. A, P.V.Rynok tsennyh bumag's Sparrows: studies. – TH.:ТК Velbi, Publishing house the Prospectus, 2006. 384с.

7. Mahovikova G. A. The Securities market: studies. The grant / G.A.Mahovikova, A.S.Selishchev, С.К Mirzazhanov. – М: Эксмо. 2010. 208с.

8. Золотогоров V.G.Ekonomika: the Encyclopaedic dictionary. - Mn.: Интерпрессервис., the Book House, 2003.-720с.

9. A.N.Azrilijan's big economic dictionary/, etc.; under the editorship of A.N.Azrilijana. - 2 изд.доп. And the reslave. - M.In-t of new economy. - 1997г. - 893с.

10. Accounting of securities, the Instruction on accounting of securities: the decision of the Ministry of Finance of Byelorussia. 12/22/2006, №164

11. The instruction about an order of release, the reference and repayment of housing bonds: the decision of the Ministry of Finance of Byelorussia. 9/18/2009, № 115

12. Typical book of accounts of accounting and the Instruction on its application: the decision of the Ministry of Finance of Byelorussia. 6/29/2011, № 8/23269