Senior Lecturer Verzhbitskaya I.V., PhD, Economics Ryabovа E.U., 
PhD, Economics Mirgorodskaya O.A.
ANO VPO Stavropol Institute of cooperation (branch BUKEP)

The economic importance of the analysis of counterparties to prevent intentional bankruptcy

Currently, the Russian economy is in a situation where the majority of companies in different fields have some difficulties in the field of solvency and liquidity of its assets. To solve or mitigate these problems, companies have resorted to different ways replenish their cash reserves or to reduce the size of their spending. One of the ways to preserve liquidity and solvency are increasingly using the growth of accounts payable at the expense of his reputation.

Accounts payable is a relatively inexpensive source of financing with high degree of risk to the financial stability of the organization. Its low cost is due to the fact that in terms of economic contracts are often set small-sized financial penalties for late payments also do not always exhibit the company's creditor demands for payment of these sanctions. Risks to financial stability is that the accumulation of accounts payable, the delay of its payment terms, concentrate a large part of debt in the hands of a few large creditors or groups of interconnected lead to potential threats both real and deliberate bankruptcy of the company.

In accordance with the legislation of the Russian Federation under the deliberate bankruptcy understand these acts (or omissions), the consequence of which the economic entity becomes unable to satisfy claims of creditors on monetary obligations in full. Generally, the objectives of the assignment are deliberate bankruptcy debtor's assets, acquisition or liquidation of the business of a competitor.

One of the methods used in the process of hostile action against the debtor company is buying its debt from other suppliers, that is, replacement of the lender. Transmission scheme the lender the right to demand fulfillment of the obligations of his debtor to another entity in the course of economic activity often realized. This operation is being used by the creditor to achieve various objectives, such as increasing the liquidity balance (as receivables exchanged for cash), and possibly to form a group of related parties, for the acquisition impact on the company-customer.

To organize debtor replacement operation lender means that the person is a creditor ceases to be such, but belongs to him the right to claim the debt is transferred to another person. Timely detection of the fact of transfer of the debt claim to a third party organization will allow the debtor to recognize the first signs of a potential breach of the financial sustainability of their activities, consisting in focusing the majority of accounts payable in the hands of one or a group of creditors.

In addition to the above reasons, of particular interest is the analysis of the judicial practice of arbitration cases involving refusal of the tax authorities to grant tax deduction of VAT, or in the recognition of expenses on transactions made with counterparties qualified as "one-day firms." The majority of companies believe that recognition of the costs or making VAT deductible enough to have documentary evidence of the transaction or receipt of goods.

However, on this occasion the tax authorities view more stringent. Workers inspections will try to prove that the taxpayer has not shown due diligence in the selection of suppliers, therefore, cannot take a deduction of VAT and the cost of transactions with a counterparty.

In connection with these assumptions is important regular monitoring and analysis of accounts payable in different directions, as well as checking the integrity of suppliers at the time of contracting.

The importance and necessity of the analysis of counterparties due to a number of factors (Figure 1).

Factors that determine the need for an analysis of counterparties for the organization		Timely detection and the development of measures against fraudsters
		Identification of affiliation of the founders and officials of counterparties to other organizations
		Timely prevention of participation in the criminal organization schemes contractors
		Timely detection of financial difficulties of the counterparty and the revision of the contractual relationship
		Reducing the risk of deterioration in solvency due to irrecoverable receivables
		Reducing the risk of deliberate bankruptcy by consolidating most of payables in the hands of one or a group of creditors
		Reducing the time people in the organization to search for information
Figure 1. Factors determining the need for an analysis of counterparties for the organization

Proposed areas of analysis of accounts payable and creditors exercised in the accounting of the debtor company are presented in Figure 2.

The study of the structure of payables in the dynamics of at least two consecutive periods will reveal the growth of the share and the amount of debt a particular counterparty creditor (supplier). Particular attention should be paid to the overdue accounts payable.

The next stage of the analysis should be compared payable debt, reflected in accounting, vendor documents confirming the fact of delivery of goods, works or services. I.e. make sure that the existing debts of the company arose as a result of the actual facts of economic activities in the past. While such comparison should focus not only on the mere presence of documents (consignment notes, consignment notes, certificates of services rendered or work performed), but also by their content and valuation.

If in the course of this study the reality of payables will be revealed debts are not documented or have a discrepancy in valuation reflected in the accounting business entity and documents of suppliers, should be compulsory make reconciliation statement of accounts payable and send it for approval and signature of the supplier.

Reconciliation of debt to suppliers as a requirement of the law should be carried out before the balance sheet for the year without fail. However, in our opinion, the reconciliation calculations for the approval and confirmation of the amount of debt for at least a quarterly basis allows you to control enterprise reality of their obligations and, more importantly, will reveal the fact of transfer of the debt claim to a third party, if the notice of such an operation they do not received.

Identify the structure of payables new organizations creditor entails analysis procedure "goodwill" of the counterparty creditor. Research on the subject of loyalty lender may include a number of stages: gathering information from various sources, analyze the information and its comparison with the previously known information, the formation of a professional opinion about the quality of the lender, possible threats on his part and risks in operations with it.

The structure of the database on each counterparty is presented in Figure 3.

Gathering information about the counterparty creditor proposed to take on several fronts simultaneously. The first direction - a written request to the lender requesting a number of documents supporting its activities. Such documents in accordance with the letter of the Federal Tax Service of Russia on February 11, 2010 № 3-7-07 / 84 [1] can be:

1) documents on the legal status of the company:

- copy of certificate of state registration;

- a copy of the certificate of tax registration;

- copy of the charter of the organization;

- extract from the register (can be ordered independently in the IRS for a payment or by online inquiry);

- copies of licenses for certain types of activity (if the counterparty exercises the licensed activities);

- copies of the documents on membership in the SRO, a certificate of admission to certain types of work (if the activities of a company requires to be member of the relevant SRO).

2) credentials contractor employees:

- а copy of the document confirming the authority of the head of organization (Minutes of the meeting of founders or the letter of appointment of the head, a power of attorney in the name of the head of branch);

- copy of the passport head of the organization; [3]

- a copy of the order or the power of attorney for the right of employees to certify invoices, bills of lading, certificates of work performed with signatures of employees (in this case of the order or the power of attorney must clearly follow that the employee has the right to sign primary documents, power of attorney must be properly formulated, has not expired, have the signature of the head and the seal of the organization);

3) additional documents confirming the conduct of the activities of the organization [2]:

- certificate on the counterparty necessary for performance of the contract of fixed assets;

- letter confirming the actual location of the counterparty.

In general, we recommend a list of documents and information to be requested from the counterparty to a contract or to assess its reality, specify the inside local act, such as the Regulations on the assessment of counterparties. This makes sense when determining the composition of the list of information and take into account the degree of fame and reputation of a company, the amount of the deal.

The second area of collecting information - an independent verification of the information submitted by the counterparty using the service on the site FNS in "Test yourself and the contractor" [4], on the site office, which issues the license, or a self-regulatory organization, the site of the counterparty, in the public domain on the Internet:

- verification of the fact of registration of the counterparty to the IRS;

- check the address on the registration of a company belonging to the mass at;

- check the CEO for his disqualification;

- check the head of the company in terms of its participation in the management and / or the presence of the right of ownership in other legal entities (director of mass, mass founder);

- assessment of the activity of the company (catalogs, advertising, printing from the site of the counterparty);

- the study of the counterparty reviews posted on the Internet;

- identification of information available at present and / or had in the past judicial proceedings (criminal prosecutions) involving, directly or indirectly legal person or company representatives (managers, promoters).

Analysis and comparison of the received information with the information about the other contractors of the company (both creditors and debtors) will reveal the presence or absence of links between organizations, their views and closeness.

The result of this research can be identified economic ties between the management or owners of various companies-suppliers, which will conclude a group of related companies that own a certain amount of payables of the legal entity and / or the components of the (sometimes not small) of a portfolio of receivables.

Dossier formed for each counterparty shall include all the information gathered from all possible external sources, as well as additional internal information:

- on operations and transactions previously committed between the debtor and the creditor counterparty or planned for implementation, their volumes, terms of payment and other characteristics, details of which may be essential for decision-making in relation to the company-contractor;

- the results of the calculation of the coefficients of the financial situation of the creditor, based on its statistical and financial statements;

- on the relationship between organizations counterparties themselves;

- on existing affiliated persons between the parties.

In other words, a block of external information will be supplemented by regular internal information generated in the company.

As one of the unfriendly steps against any organization with the aim of bringing it to premeditated bankruptcy is the simultaneous presentation of the claim settlement of accounts payable group of related persons with simultaneous non-payment of receivables by others belonging to the same group or under its control, the management of such information dossiers on each counterparty allow, in our opinion:

- to identify in advance a potential threat from the others, therefore, timely to take measures to resolve the receivables and payables;

- regulatory authorities to prove their diligence in the selection of contractors, therefore, to confirm the right to deduct VAT or recognition of expenses for tax purposes;

- have available the archive information in the form of a constant and complements available to various internal users at any time, thus reducing costs and time to gather information about existing or potential contractors, increasing its quality;

- minimize the risk of damage or loss of private information on the counterpart staff of the company, therefore increasing its reliability, integrity, ensuring the desired level of quality of decisions made based on such information.

The bibliographic list:

1. Letter of the Federal Tax Service of Russia from 11 February 2010 № 3-7-07 / 84 "On the refusal to refund VAT, if during the tax control measures proved lack of due diligence and caution taxpayer in connection with the contractors and proved the submission the tax authorities of documents containing false information. "

2. Letter of the Russian Finance Ministry on August 3, 2012 № 03-02-07 / 1-197 «On the measures necessary to confirm the integrity in the selection of contractors."

3. Letter of the Federal Tax Service of Russia from October 17, 2012 number № АС-4-2/17710 "On consideration of the appeal."

4. Electronic resource "Test yourself and counterparty» // http://egrul.nalog.ru/.

5. Verzhbitskaya I.V., Bale E.G., Internal control of settlements with debtors and creditors as a tool to recognize the signs of deliberate bankruptcy of the organization // Economy and Entrepreneurship - 2013. № 12-3 (41-3). Pp. 510-516.

6. Verzhbitskaya I.V., Value of the analysis of accounts payable for prevention of bankruptcy of legal entity // Science and modernity. 2012. Pp. 162-167.

7. Ponomareva N.V. About the methodology of forensic accounting expert examination of damage inflicted by the crime // Economy and entrepreneurship. - 2015.- № 6-1.- Pp. 583-586.