Economic theory


(general meeting of shareholders)



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(general meeting of shareholders).
Retained earnings may be used for:
Increase the authorized capital;
Creation and replenishment of reserve capital;
Pay dividends to shareholders;
Compensation for damages;
For other purposes at the discretion of the owners. Dividends are a portion of the profits that remain in the enterprise after the payment of mandatory payments and all taxes that must be distributed among shareholders. Typically, dividends are calculated at the end of the reporting year. However, joint-stock companies have the right to decide on a quarterly and semi-annual basis to pay dividends on placed shares, unless prohibited by the company's charter. The date of payment of annual dividends is determined by the charter of the joint-stock company or by the decision of the shareholders meeting.
After the announcement of dividend payments by the management of the enterprise, if they are paid for the next year, they are reflected in the account as current liabilities. Accounting for grants, subsidies and grants is regulated by IFRS 10, “Accounting for Government Subsidies and Interpretation of State Assistance,” approved by the Ministry of Justice on 3 December 1998 under No. 562.
Grants are free, humanitarian or logistical funds provided by the Government, non-governmental, foreign, as well as international organizations and foundations for social purposes, economic development, implementation of scientific, technical and innovative programs.
Subsidies are the amount of assistance provided to an enterprise by the state in cash and in kind under certain conditions in order to develop its activities. Accounting of state subsidies is registered in the National Accounting Standard “Accounting for state subsidies and opening of state aid” approved by the Ministry of Finance of the Republic of Uzbekistan on October 19, 1998 No. 52 (IFRS No. 10) (No. 562 of 03.12.1998). , “Reference book of normative documents of ministries, state committees and agencies of the Republic of Uzbekistan” (No. 6, 1999). However, subsidies and grants can be provided by enterprises to implement important programs by various non-governmental, international organizations and foundations.
Membership fees - the amount of membership fees determined in accordance with the constituent documents of the company. The collected membership fees are used to develop the activities of the society. The membership fees collected when the company is liquidated will be used to cover its debts.
Targeted use tax credit is a set of funds collected as a result of tax exemption for the enterprise to perform its intended functions under state law. These target receipts are accounted for in accordance with the Special Regulations, as well as IFRS 21.
"Deferred expenses and payments reserve" account to collect information on the status and movement of duly reserved amounts by simultaneously adding expenses and payments to production or transaction costs 'is used. In particular, this account can reflect the amount of future expenses for the repair of fixed assets. Legislation on reservation of amounts to be added to expenditures, as well as approved by the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan dated February 5, 1999 No 54 "On the structure of costs of production and sale of products (works, services) ”Is regulated by the Charter.
This is because the entity reflects in its report the unrealized costs in organizing it and reduces the profit. Commercial enterprises can only create a provision for net profit if this is reflected in the accounting policy. When using the reserve for production needs, the tax base is reduced by the amount of these costs. The formation of a reserve at the expense of production costs is allowed, in agreement with the Ministry of Finance of the Republic of Uzbekistan, mainly for seasonal enterprises.
The most important condition for the establishment and development of a market economy is to work profitably. In this sense, the result of any economic action must be profitable. The main aspect of today's planned market economy is that, unlike the planned economy in the socialist system, it opens up a wide range of opportunities for every economic entity.

In administrative management or planning, the organization of economic activity, the transition to a market economy, which began on the basis of radical changes in the system of forms and methods of management, increasing the passion and freedom of economic movement, clear and independent allows the subjects of action to act as the owner of property and achievements on behalf of. Our greatest achievement is that at the same time the enterprises have been completely denationalized and transformed into enterprises operating in various forms of ownership. The main goal of establishing and conducting production, commercial and entrepreneurial activities in an environment based on free market relations is to achieve high efficiency. Privatization, The process of denationalization and corporatization has taken place in a market economy and is characterized by the capacity of economic entities based on different ownership indicators of their private capital. An entity that does not have sufficient private capital will not be able to continuously develop its operations and its ability to withstand the competition that arises in the market will be weak. Therefore, the availability of private capital, its constant increase is an important element that guarantees the development of any business entity, including limited liability companies, in a market economy.

Taking into account these aspects, the Law "On Accounting" adopted at the 6th session of the Oliy Majlis of the Republic of Uzbekistan of the first convocation also pays great attention to private capital accounting. According to Article 16 of the financial statements, Form 5 is called the Private Equity Report, which must be submitted to higher authorities each year in addition to other reports. In limited liability companies, as in other forms of ownership, the object of accounting is the assets and liabilities that shape the financial and economic activities. But at the same time in limited liability companies it is necessary to take into account the specifics of this form of ownership and accounting. items are also available. One of such objects of accounting is the liberal economic and social activity of enterprises and organizations using the method of management, management and ownership of property. In accounting, this process has its own characteristics. These include transactions related to the issuance and circulation of shares, private (authorized) capital, securities, income (profit), dividend payments, specially formed funds and the distribution of profits. All of these processes are accounting objects that are specific to accounting in limited liability companies. The study of these objects is based on the principle of double entry, which is one of the important fundamental principles of accounting.

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