A promissory note is a written promissory note strictly established form certifying the unconditional obligation of one party to pay in fixed time a certain sum of money to the other party and the latter's right to demand this payment.

The most solid basis for bill turnover is commercial bills. Commercial bills are based on real deal for the purchase and sale of goods on credit; issuing them entails a deferred payment.

Commercial bills are usually pledged against goods and are secured by those in cash, which will come from the sale of goods purchased using a bill of exchange. Therefore, such bills are also called commodity, purchase or covered bills. A commercial bill is based on a credit nature and is an instrument of commercial credit, conditioned by the real needs of commercial and industrial turnover. Its goal is to facilitate the sale of goods with deferred payment.

• 1) commercial bills can be issued by legal entities located on the territory of the Russian Federation and being such under the current legislation;
• 2) commercial bills are issued on forms uniform sample established by the Ministry of Finance of the Russian Federation;
• 3) commercial bills are used in settlements between enterprises for the supply of goods, work and services performed. A commercial bill represents additional security for accounts payable;
• 4) the amount for which the bill is issued is reflected in the form of the bill. In accounting, commercial bills are accounted for by the bill amount, i.e. at the face value of the bill.

The legislation does not allow the issuance of a commercial bill of exchange to bearer, since bill circulation is based on real monetary transactions with specific business entities.

Commercial bills, which are backed by a specific commodity transaction, can be simple or transferable.

Financial bills are a direct consequence of a loan agreement, when one party receives a certain amount of money from the other by issuing a bill in return. The basis of a financial bill is the loan issued. The essence of a financial bill is a guarantee of repayment of the loan received. It is based on the movement of money. In commercial and industrial circulation, financial bills are used by enterprises to replenish working capital. Private financial bills are usually issued by large, well-known firms with a strong track record. financial position. However, this method of borrowing is less preferable compared to bonds, since funds are raised on a short-term basis, and they are involved in production for a longer period of time. long terms. This calls into question the timeliness of payments on private financial bills. Such bills are usually not accepted by banks for accounting.

Variety financial bills treasury bills serve - Short-term liabilities states with maturities of 3, 6 and 12 months, issued for circulation in order to cover the budget deficit.

A financial bill for which the payer is a bank is called a bank bill.

The presence of financial bills is possible due to the absence in their text of any mention of the basis for their issuance. But at the same time this leads to the emergence of fictitious bills of exchange that are not related to real movement no goods, no money; among financial bills there are friendly, counter and bronze ones, which are prohibited for use in Russia, but are used in narrow circles.

Co-investment institutions are represented on stock market holdings, investment companies, investment funds and trust companies. Co-investment is an activity carried out in the interests and at the expense of the founders and participants investment fund through the issuance of investment certificates and conducting commercial activities with securities. Co-investment can also be performed by banking institutions along with other financial and credit functions.

Participants of an investment fund are individuals and legal entities who have purchased investment certificates of this fund. A participant in an investment fund may be issued a certificate for the total value of investment certificates. Investment certificates can be personal or bearer. The investment certificate must have the following details: corporate name of the investment fund; its location; name of the security ("investment certificate") and its serial number; release date; type of investment certificate, its nominal value; owner's name (for a personal investment certificate); dividend payment period; signature official- investment manager or other authorized person; investment fund seal. The par value of one investment certificate must be equal to the par value of one share owned by the founders.

To issue investment certificates, an agreement is drawn up with the investment manager, auditor or audit firm, as well as a deposit agreement with the depository, registration of the issue of investment certificates is carried out, an investment declaration and information on the issue of investment certificates of the investment fund are published.

A mortgage is a way of securing the borrower's obligation to the lender with collateral real estate, which consists in the right of the creditor to receive satisfaction of his monetary claims from the value of the pledged real estate. The subject of the mortgage can be individual and multi-apartment residential buildings, apartments, land plots, buildings, structures and other real estate.

Mortgage lending is the provision by banks of long-term loans for the purchase or construction of real estate secured by real estate. Mortgage housing lending citizens has a number of distinctive features:

• - Loans are targeted in nature and are provided to citizens for the purpose of purchasing housing or constructing individual housing;
• - Loan collateral is usually housing purchased with the help of a loan, or (in the case of construction individual house) pledge land plot. For the term of the loan, the property is pledged, and in the event of a borrower's default, the lender can cover its losses by foreclosure on the collateral;
• - The loan repayment period (credit period) is quite long - as a rule, 20-30 years or more;
• - Usually within credit period The borrower regularly pays not only interest, but also part of the principal amount, so that by the end of the loan period the principal debt is fully repaid.

The main purposes of conducting transactions with financial bills are:

· formation and increase of capital;

· attraction borrowed money;

· receiving income from transactions of purchase and sale of securities (so-called speculative income);

· receiving income from financial investments(discounts, interest on securities);

· use of securities as collateral, etc.

Financial bills represent investments by an organization with the aim of generating additional income.

Accounting for transactions with financial bills has its own accounting features:

Financial bills are accepted for accounting in the amount of actual costs for the investor;

Income from a financial bill is generated at the time of its sale or presentation for payment;

The sale or presentation of a financial bill at a price lower than the cost of its acquisition is recognized as a loss from operating activities (loss from the disposal of other property);

The date of turnover under a financial bill is considered to be the day of its transfer to the new owner (endorsement date) or the date of its presentation (acceptance date). Financial bills can be received by enterprises in two ways. The first way is to purchase bills of exchange in order to generate additional income. The second is receipt in the order of payments for shipped products, work performed, services rendered.

All bills of exchange of third parties are accepted by the supplier for accounting as securities and are reflected as part of financial investments in account 58 “Financial investments”, sub-account “Debt securities”. Their assessment is made in the amount of actual costs of purchasing the bill. That is, if an organization receives a bill of exchange from a third party in payment for shipped goods, then it is credited to the balance sheet based on the cost of the transferred goods (work performed, services rendered). The latter is determined on the basis of the price at which, in comparable circumstances, the organization sells similar goods (work, services).

Accounting for bills purchased as financial investments must be carried out in the manner prescribed by PBU 19/02. Let's look at an example of how financial bills are accounted for.

In practice, the moment of issuance (transfer) of a bill of exchange is formalized by an act of acceptance and transfer of the bill of exchange.

In accounting, transactions with commercial bills of exchange are reflected using separate subaccounts to settlement accounts. In practice, trade bills are usually issued for an amount greater than accounts payable drawer. The difference between them compensates the supplier for deferred payment for purchased goods. This difference - the discount - is subject to accounting as part of the expenses of the drawer and the income of the bill holder.

Thus, the transfer of a bill of exchange in the accounting of the drawer is reflected by an internal entry in account 58 for the bill amount and the entry:

DEBIT 91-2 CREDIT 58-2 for the discount amount.

Similarly, in the accounting of the bill holder, internal posting is made to account 62 and posting:

DEBIT 58-2 CREDIT 62.

It should also be noted that both parties need to additionally organize off-balance sheet accounting of bills: in account 009 “Securities for obligations and payments issued” from the drawer and in account 008 “Securities for obligations and payments received” from the holder of the bill.

Accounting for financial bills is carried out similarly to accounting for settlements on loans and credits.

According to clause 3 of PBU 19/02 (as amended on November 27, 2006), an organization’s financial investments include securities of other organizations, including debt securities in which the date and cost of repayment are determined (bonds, bills).

Financial investments are accepted for accounting at original cost (clause 8 of PBU 19/02). Initial cost financial investments acquired for a fee, the amount of the organization’s actual costs for their acquisition is recognized (clause 9 of PBU 19/02). The organization independently determines in its accounting policy procedure for converting long-term debt into short-term debt.

The transfer of a financial bill of exchange as payment for products, works or services means that the buyer has repaid his debt to the seller. Therefore, the moment of receipt of the bill of exchange is the moment of “payment” for the product for tax purposes, and tax accounting, as well as accounting, will be the same for any chosen method of recognizing sales - “by shipment” or “by payment”. The fact that if the payer refuses to pay the bill, the seller can exercise its right of recourse and present the protested bill to the buyer does not contradict the statement about payment for the delivered products.

Purchase of a bill of exchange:

DEBIT 76 CREDIT 51

The purchased bill of exchange was accepted for accounting:

DEBIT 58-2 CREDIT 76

Repayment of a bill:

DEBIT 76 CREDIT 91-1

Decommissioned book value bills:

DEBIT 91-2 CREDIT 58-2

Repaid at par.

Financial bills are a direct consequence of a loan agreement, when one party receives a certain amount of money from the other by issuing a bill in return. The basis of a financial bill is the loan issued. The essence of a financial bill is a guarantee of repayment of the loan received. It is based on the movement of money. In commercial and industrial circulation, financial bills are used by enterprises to replenish working capital. Private financial bills are usually issued by large, well-known firms that have a strong financial position. However, this method of borrowing is less preferable compared to bonds, since funds are raised on a short-term basis, and they are involved in production for longer periods. This calls into question the timeliness of payments on private financial bills. Such bills are usually not accepted by banks for accounting.

A type of financial bills are treasury bills- short-term government obligations with maturities of 3, 6 and 12 months, issued for circulation in order to cover the budget deficit.

A financial bill for which the payer is a bank is called bank bill.

The presence of financial bills is possible due to the absence in their text of any mention of the basis for their issuance. But at the same time, this also leads to the appearance of fictitious bills of exchange that are not associated with the real movement of either goods or funds; among financial bills there are friendly, counter and bronze ones, which are prohibited for use in Russia, but are used in narrow circles.

Friendly bills are transferred by a solvent enterprise as a “friendly favor” to another enterprise experiencing financial difficulties and in need of a loan (or the latter’s bills of exchange are accepted), so that the holder of the bill pays the bill with its creditors or takes it into account at the bank. Sometimes the issuance of friendly bills is used to artificially increase the amount of debt of the drawer when he is declared insolvent. Amounts paid on such bills are then returned by the holder to the drawer.

Friendly bills are usually issued in case of full confidence in the counterparty. However, as a guarantee against losses that the drawer may incur in the event of non-payment of a friendly bill, the holder of the bill delivers to his counterparty a bill for the same amount - counter bill.

Bronze (inflated) bills also have no real security and are written on behalf of a non-existent company in order to obtain cash from the bank.

Now only a bank bill can be called a real financial bill, which has become widespread in last years both among citizens (who consider them as one of the ways of more or less reliable investment of their savings), and among enterprises (for which, in the conditions of long-term payments through banking system the possibility of making payments by bill of exchange comes to the fore). To purchase them, you need to deposit the bill amount into the account (cash) of the bank, after which the latter issues the bill. In this case, the date of its preparation is the date of receipt of funds by the bank.

A financial bill accompanies the movement of loan capital and most often represents a bank bill when:
Endorsement of a bill

(D)
repayment of a bill
I option II option
D+d
Scheme 4.8 Movement of a bank bill

A bank bill can be sold to both legal and individuals
As can be seen from the diagram, the bank sells the bill to the client, i.e. For the bank, the bill of exchange is a tool for additional raising of funds, and for the buyer, it is an opportunity to place temporarily free funds in order to generate income (option I).
A bank bill is more reliable than a commercial bill, because The payer of the bill is always the bank. This bill, just like commercial ones, can be transferred by endorsement in payment for goods and services to other enterprises (the transfer is formalized by assignment). In this case, the financial bill is transformed into a commercial bill and is already a means of payment (option II).
Bank bills can be of two types:
Interest-bearing bills;
Discount bills.
Interest-bearing bills are sold at par and repaid at par plus earnings. The following main indicators are indicated on the form of the interest-bearing bill:
1) par value (the amount transferred by the company in payment of the bill);
2) rate of income;
3) maturity date of the bill;
4) other indicators (the same as for the discount bill).
A discount bill is sold at a price below par and redeemed at par. The form of the discount bill indicates:
1) face value (equal to the amount payable upon redemption of the bill), i.e. When selling a bill of exchange, the amount payable is immediately calculated and indicated on the bill of exchange as the face value:
Nominal value = amount transferred by the company H (1 + )
The maturity date of the bill.
The percentage of income on the discount bill is not indicated because income is already taken into account in nominal value.
In Sberbank Lately bills with “0” income are actively used by entrepreneurs when they serve as substitutes for cash in payments for goods and services. Bills of exchange can be presented for payment at Sberbank branches in any region (banks settle among themselves using a clearing settlement system), which is convenient for the buyer and seller.
Thus, having the legal force of a bank's urgent obligation with all the ensuing rights, a bank bill is an elastic, flexible instrument for making payments and servicing part of the country's payment turnover.
By agreement of the parties (bank and client), an enterprise can be granted a bill of exchange loan; when the enterprise does not have funds in its account, it turns to the bank with a request to issue a loan, but in the form of a package of bills of exchange, and not sum of money.

Repayment of bill of exchange loan

credit
for a loan
presentation of a bill for payment
its repayment
Scheme 4.9 Issuing a bill of exchange loan

A bank bill loan is provided to speed up payments for goods and services. This loan is issued to clients who have a stable financial position, upon their application, subject to the provision of all documents necessary to resolve the issue of issuing a loan. In this case, the payment period for the bill must be strictly limited to a shorter period than the loan repayment period under the agreement. A bill of exchange loan is much cheaper than a traditional loan.
But it should be borne in mind that if we analyze this operation legally, then such a bank operation does not have the right to exist because contradicts the Civil Code of the Russian Federation (Article 819, clause 1) and if not returned of this loan the bank will not have legal rights to make claims against the borrower, because I didn’t give out the money myself.

Self-control questions for questions 4.16-4.18
Define a bill.
How many legal entities participate in the issuance of a promissory note?
Define a bill of exchange.
Name the main types Bank operations with commercial bills.
Basic concepts of bill circulation: endorsement, assignment, endorsement, protest of bill.
Define interest-bearing and discount bank bills.
What is the essence of bill lending?

How general concept- this is a variety credit funds, which is expressed in the form of a document strictly designated by law.

A bill of exchange is a security in which one party (the borrower) assumes abstract monetary obligations, and the other party (recipient of the bill) within the specified time frame has the right to present this document to return borrowed funds.

This form of bill, such as a financial one, has as its peculiarity the condition that the transaction made under it is not connected in any way with the exchange of goods, but provides exclusively for monetary relations between the parties. To avoid ambiguous interpretations, it is necessary to clarify that any form of bill provides for repayment only in cash, but when concluding a transaction in the form of a financial bill, the very subject of the relationship for the sake of which such a loan is issued must be monetary.

Financial bills, unlike other types, are short-term, that is, in most cases they must be paid no more than 1 year from the date of receipt of the bill by the creditor. The form of a financial bill cannot be changed at the request of the parties, since the structure of this type of security is strictly regulated by bill of exchange legislation. Therefore, if any of the required details are missing, the document becomes invalid.

Another feature financial type bill obligations is that such security cannot be resold to someone else, and the borrower pays the debt only to the party that originally took part in the transaction or to a third party at the request of the lender.

Additionally, financial bills differ according to the following principles:

• By the presence of collateral – secured and unsecured.
• By place of payment – ​​domiciled and non-domiciled.
• By timing - definitely or indefinitely urgent.
• According to the payer - simple and transferable.

Differences between simple and transferable financial bills

The two groups of these papers differ in the subjects of the relationship.

Promissory note, or as it is called,- this is the subject of a transaction between the drawer and the holder of the bill. The main condition of this type is that the debtor is solely the drawer, that is, the person who issued the document.

A third party may be involved in the transaction, but only at the initiative of the bill holder if he has a requirement to transfer payments to the accounts of such a party.

Upon provision a financial bill of exchange called a draft, the circle of persons has been expanded and changed. Here, the drawer, who acts as a creditor, instructs his debtor (drawee) to pay the debt on the bill to a third party, called the remittor. A financial bill of exchange is not redeemable as a simple payment because it cannot be certain that the drawee named on the bill will make the appropriate payment. In order to confirm the future fulfillment of obligations under the bill, the drawer provides a so-called acceptance, that is, he guarantees in writing that the funds will be paid.

A financial bill of exchange may not be secured by acceptance, but such bills are rarely in demand.

Depending on the extent to which the drawer guarantees repayment, acceptance may be complete or partial.

In cases of failure to fulfill obligations under a transaction, the holder of an accepted financial bill has the right to make claims against all persons who have obligations under the bill.

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