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Clase 9 El Patrimonio Neto, Capital, Reservas y Resultados Retenidos

Patrimonio Neto: Representa el derecho de los accionistas sobre el valor residual del activo de la empresa.

Sociedades Comerciales.
Una sociedad comercial existe cuando dos o más personas en forma organizada, se obliguen a realizar aportes para aplicarlos a la producción o intercambio bienes o servicios participando de los beneficios y soportando las pérdidas.
Las sociedades comerciales más comunes son:
- La sociedad colectivas - La sociedad en comandita simple
- La sociedad en comandita por acciones - La sociedad de capital e industria
- La sociedad de responsabilidad limitada - La sociedad anónima
- Sociedades Mixtas - U.T.E.; Cooperativas

Sociedades Anónimas.
El capital se representa por acciones y los socios limitan su responsabilidad al capital aportado. Es una entidad diferenciada de sus propietarios. Las sociedades se constituyen mediante el cumplimiento de los siguientes trámites : * El Instrumento de constitución – Estatuto Social * Reglamento de funcionamiento interno * Registro y aprobación en la Inspección de Personas Jurídicas (IPJ) * Inscripción en el Registro Publico de Comercio (RPC) * Publicación en el Boletín Oficial de la constitución de la Sociedad * Inscripción en la AFIP – DGI/Aduana * Inscripción en la Dirección de Rentas de su jurisdicción

Clases de Acciones. * Ordinarias, por clase A o B según derecho a voto * Preferidas, tienen privilegios especiales en cuanto al cobro de dividendos y al derecho de cobro en caso de disolución de la firma. Pueden ser: Acumulativas (todas), con rescate, convertibles. * En Cartera o de Tesorería, son las acciones recompradas por la propia compañía con fondos propios. Las empresas pueden adquirir sus propias acciones para su futura distribución de dividendos en acciones o para los planes de retiro de sus ejecutivos.
Emisión de acciones.
El paso contable inicial consiste en la emisión de acciones que representan el capital, es decir que el capital esta representado por acciones, las que se abonan en efectivo

Caja (A+) 1.000.000 Capital (PN+) 1.000.000

Por la emisión de acciones que representan al capital.

En algunas oportunidades la emisión de acciones se integra en “especies”; propiedades, bienes, llave de negocio, etc.
Este tipo de integración es tratado con especial cuidado por las normas contables en cuanto a valuación y oportunidad de la integración.

Tipos de Capital.
Existen varios tipos de denominaciones del capital: * Capital suscripto o Capital Social según Estatuto * Capital Integrado abonado en efectivo o en especies

Exigencias en cuanto al capital. * Capital mínimo $ 12.500 * Capital de integración mínima: 25 % del capital suscripto, ($3,125) * Capital pendiente de integración * Aumento de capital sin reformas al estatuto, hasta el quíntuplo del capital suscripto * Reserva legal: la Reserva Legal es obligatoria, y se constituye con el 5% de las utilidades liquidas y realizadas que arroje el estado de resultados de cada ejercicio hasta alcanzar el 20 % del capital social.

Emisión de acciones con primas de emisión.
Las acciones tienen un valor par, pero generalmente en las empresas que cotizan en bolsa muchas de sus emisiones de acciones se lanzan a la OPA (Oferta Publica de Acciones) o IPO (Inicial Public Offering) por un valor que es superior al valor nominal de la acción, la “diferencia” se denomina Prima de Emisión.
Asumimos que una empresa emite 100.000 acciones a un valor par de $10 con una prima de emisión de $ 1 por acción:

Caja (A+) 1.100.000 Capital social – par (PN+) 1.000.000 Prima de emisión (PN+) 100.000

Compra de acciones de Tesorería.
El principio contable fundamental de las Acciones de Tesorería es que la firma no reporta ganancias ni perdidas por las transacciones que involucran sus propias acciones en cartera. Aun en el supuesto caso de que la empresa pueda vender a un valor mayor que su precio de adquisición, no informa ninguna ganancia en el estado de resultados. Lo mismo ocurre si se produjese una venta a menor valor que el costo, no informa ninguna pérdida.
Cuando una empresa adquiere sus propias acciones se contabiliza de la siguiente manera:

Acciones en cartera (PN-) 11.000 Caja (A-) 11.000

Se pagaron $ 11.000 para adquirir 1.000 acciones ordinarias.

Si luego la empresa vuelve a vender las acciones en cartera por un valor mayor al adquirido; digamos $ 14.000, deberá contabilizar la venta de la siguiente manera Caja (A+) 14.000 Acciones en cartera (PN+) 11.000 Prima de emisión (PN+) 3.000

Reventa de 1.000 acciones en cartera a una precio superior que el costo de adquisición. Los $ 3.000 no se muestran en el Estado de Resultados, sino que se integran al Patrimonio Neto.

Exposición de las acciones de Tesorería.

Las acciones de tesorería se muestran restando del capital integrado en el patrimonio neto.
Modelo de presentación del Patrimonio neto con existencia de acciones en cartera
ABC S.A. Presentación del Patrimonio Neto

Capital social 428.407
Resultados Retenidos 87.568
Pérdida neta no realizada por Inversiones en acciones en cartera (3.887) 512.088
Menos:
Acciones ordinarias en cartera, al costo (32.000)
Patrimonio Neto $480.088

Resultados Retenidos.
Los resultados retenidos representan los resultados obtenidos por una empresa durante su existencia, menos los dividendos en efectivo abonados a los accionistas y las reservas legales, facultativas o estatutarias constituidas.
Los resultados retenidos aumentan el patrimonio neto y la firma puede usar esos resultados para reemplazar activos obsoletos o expandir el negocio.

Los Resultados Retenidos se determinan así:

Resultados retenidos al inicio del ejercicio $ 200.000
Más: resultado neto del ejercicio 20.000 $ 220.000 Menos:
Dividendos pagados en el ejercicio (2.000)
Reserva Legal 5% s/ $20.000 (1.000) (3.000)
Resultados retenidos al cierre del ejercicio $ 217.000

Dividendos en Efectivo.
Los accionistas de una sociedad no controlan directamente la distribución de los dividendos generados por los resultados netos de la sociedad.
Las leyes de sociedades y los estatutos y reglamentos delegan tal disposición en el Directorio de la sociedad, que es el que eleva la propuesta de distribución de utilidades a los accionistas.

Cuando se declaran dividendos se efectúa el siguiente asiento:

Resultados Retenidos (PN-) 250.000 Dividendos a pagar (P+) 250.000

Para registrar la declaración de dividendos aprobados por la Asamblea de Accionistas. La cuenta Dividendos a pagar es una cuenta temporaria.
Una vez que el directorio declara un dividendo este se convierte en una obligación de la sociedad, es decir un Pasivo.

Cuando se procede a pagar el dividendo:

Dividendos a pagar (P-) 250.000 Caja (A-) 250.000

Dividendos en Especie.
Cuando una sociedad paga sus dividendos en otros bienes que no sean en efectivo – Caja; se denominan dividendos en especie.
En este caso en vez de acreditar la cuenta Caja, se acredita la cuenta de activo que se entregan en pago. El monto a abonar debe representar el precio justo de esos activos.
En el supuesto de abonar dividendos en mercaderías, el asiento sería: Dividendos a pagar (P-) 150.000 Inventarios/Mercaderías (A-) 150.000

Dividendos en acciones.
La retención de resultados puede conducir a un aumento significativo de patrimonio neto, lo que representa un compromiso fuerte de los accionistas con la sociedad.
Para consolidar el concepto de compromiso para con la sociedad y la intención de reinvertir tales resultados el directorio puede decidir declarar un dividendo en acciones.
Si una empresa declara un dividendo en acciones del 5%, y estipula que cada accionista reciba una acción por cada 20 acciones de tenencia anterior a la declaración del dividendo: 0.05 * 20accs. = 1 acción

Por ejemplo los directores de una sociedad deciden declarar un dividendo en acciones de 10.000 acciones ordinarias “adicionales” con un valor par de $ 10 por acción en el momento donde el valor de mercado de la acción es de $ 40.
El asiento a efectuar por la emisión de acciones en pago del dividendo será:

Resultados retenidos (PN-) 400.000 Capital Social-Acciones Ordinarias (PN+) 100.000 Primas de emisión (PN+) 300.000 La declaración del dividendo en acciones se contabiliza al valor de mercado de las acciones; es decir, $40 * 10.000 acciones = $ 400.000

La ley de sociedades establece que los dividendos no pueden ser pagados con el capital sino únicamente de los resultados retenidos, los que deben ser “líquidos y realizados”.
Cuando la empresa posee acciones en cartera el monto de los dividendos en efectivo no pueden exceder el monto de los resultados retenidos menos el valor de la tenencia de acciones en cartera.

Ajustes a los Resultados Retenidos -AREA
El análisis de los Estados de Resultados siguiendo las Normas de Contabilidad Generalmente Aceptadas sugiere la exposición de resultado en los siguientes componentes: * Resultados por operaciones normales, objeto de la sociedad. * Resultados por actividades ocasionales o discontinuadas. * Resultados por ítems extraordinarios. * Ajustes al resultado por cambios en los principios contables

Ajustes directos a los resultados retenidos. 1. Corrección de errores
Las correcciones tienen lugar cuando tales errores son materiales, es decir que poseen magnitud considerable. (principio de materialidad).

Asumimos que una empresa descubre, por ejemplo, que la mercadería en su inventario es $ 20.000 inferior a lo informado al cierre del periodo anterior y que utilizó para el cálculo del costo de ventas el sistema de inventario periódico:
Costo de Ventas = Inventario Inicial+ Compras – Inventario Final

La firma efectuara el siguiente asiento en el período actual: AREA (PN-) 20.000 Inventarios (A-) 20.000

Corrección por un error en la valuación del inventario.
El costo del período anterior fue más bajo que lo que debería haber sido, por lo tanto el resultado estuvo sobreestimado.

2. Ajuste de períodos anteriores
Se producen estos ajustes cuando la empresa modifica algunos principios contables que venia utilizando en los ejercicios anteriores; ejemplos de estos cambios son múltiples pero podemos ejemplarizarlos resumidamente: * Cambios en los criterios de valuación de inventarios * Cambios emergentes de disposiciones o cálculos impositivos * Modificaciones en los períodos de vida útil de los bienes * Cambios en los criterios de castigo a Deudores Incobrables * Introducción de ajuste por inflación con impacto a otros ejercicios

Problema de Estudio – Dividendos en Especie
La empresa Blueberry S.A. posee 10.000 acciones de Tenaris, las que mantiene como una Inversión. Las acciones costaron $ 200.000, a $ 20 cada acción, y en la actualidad poseen un valor de mercado de $ 50 cada una.
Blueberry declara dividendos “en especie”, distribuyendo las acciones de Techint a sus accionistas.

Resultados Retenidos (PN-) 500.000 Inversiones (A-) 200.000 Ganancia s/ disposición de inversiones (R+) 300.000 La ganancia se refleja en el estado de resultados y se cierra contra Resultados Retenidos

Resultados Retenidos (PN-) 200.000 Inversiones (A-) 200.000

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...Dear Mr. Samuel I am writing to apply for the manager position advertised in the Jobsearch.com. As requested, I am enclosing a completed job application, my resume and references. The opportunity presented in this listing is very interesting, and I believe that my strong experience and education will make me a very competitive candidate for this position. The key strengths that I possess for success in this position include: ● With a bachelor degree in Finance BBA (Bachelor Business Administration) at Azerbaijan University, I have a full understanding of the human development project. I also have experience in learning and excelling at new business techniques as needed. ● I have experience building large, sustainable, customer-based collaboration with famous companies. I understand the social value of the non-profit sector and hope that my business experience will be an asset to your organization. I am confident that my skills and past experience could make great contributions to your organization. Therefore I would appreciate the opportunity to discuss my qualifications for this position in greater detail with you in person at your earliest convenience. At last I am honored to working under you and join to your team. Please see my resume for additional information on my experience. I can be reached anytime via email at orxanss@yahoo.com or my cell phone, (+99450) 7245456 Thank you for your time and consideration. I look forward to speaking with you about...

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