Information agency Credinform represents a ranking of the largest construction companies having a potential opportunity to carry out a tax monitoring. The companies engaged in construction of buildings and structures meeting the new criteria for tax monitoring with the largest volume of annual revenue (TOP-10 and TOP-100) were selected for the ranking, according to the data from the Statistical Register and the Federal Tax Service for the latest available periods (2017 - 2019). They were ranked by the ratio of assets and liabilities (Table 1). The selection and analysis was based on the data of the Information and Analytical system Globas.
Sales revenue and net profit show the scale of the company and the efficiency of its business, and the ratio of liabilities and assets indicates the risk of insolvency of the company.
Exceeding the upper standard value indicates excessive debt load, which can stimulate development, but negatively affects the stability of the financial position. If the value is below the standard value, this may indicate a conservative strategy of financial management and excessive caution in attracting new borrowed funds.
In order to get the most comprehensive and fair picture of the financial standing of an enterprise it is necessary to pay attention to all combination of indicators and financial ratios.
|Name, INN, region||Revenue, million RUB||Net profit (loss), million RUB||Ratio of liabilities and assets (x), from 0,2 to 0,5||Solvency index Globas|
INN 7714950480 Moscow
|18 910||17 436||127||116||0,95||0,98||233 Strong|
|OOO MIP-STROI #1
INN 7701394860 Moscow
|56 995||53 932||10||99||0,98||0,98||272 Medium|
INN 7729755852 Moscow
|26 948||44 616||1 792||1 263||1,01||0,98||275 Medium|
|RENAISSANCE HEAVY INDUSTRIES LLC
INN 7802772445 Moscow
|37 662||42 884||4 732||2 079||0,83||0,94||245 Strong|
INN 7729355935 Moscow
|19 640||23 853||262||314||0,97||0,92||176 High|
INN 0277015293 Republic of Bashkortostan
|11 047||18 231||82||405||0,89||0,88||208 Strong|
INN 7713011336 Moscow
|25 343||24 572||15 137||306||0,74||0,75||233 Strong|
|RENAISSANCE CONSTRUCTION LTD
INN 7708185129 Moscow
|44 512||25 720||1 290||2 676||0,94||0,74||201 Strong|
INN 7801174139 Saint Petersburg
|8 713||24 118||229||1 640||0,92||0,74||171 Superior|
INN 7802084569 Saint Petersburg
|15 270||17 182||4 374||6 441||0,68||0,71||217 Strong|
|Average value for TOP-10||26 504||29 254||2 804||1 534||0,89||0,86|
|Average value for TOP-100||8 802||7 789||30||-289||0,81||0,81|
growth of indicator to the previous period, decrease of indicator to the previous period
The average indicator of the ratio of liabilities and assets of TOP-10 and TOP-100 is above the standard value. Indicators of six companies show the positive dynamic to move toward the standard value in 2019.
Over the past 6 years, the industry average values of the ratio of liabilities and assets of TOP-100 have a positive trend to move toward the standard value (Picture 2).
The Federal Law dated 29.12.2020 No. 476-FZ introduced the amendments to the Law «On audit activities» concerning the conditions for the mandatory audit of financial statements.
According to the amendments, starting from January 1, 2021, the financial indicators below, exceeding the threshold values of which is the basis for conducting the mandatory audit, were increased:
- revenue - from 400 to 800 million RUB;
- assets of the balance sheet - from 60 to 400 million RUB.
Thus, the opportunities for accounting under the simplified procedure by small businesses that have this right are expanded, with the exception of companies with the indicators listed above.
In addition, nonprofit organizations are exempt from the mandatory audit if at least one of the following conditions is met:
- compliance with the above limits on revenue and assets of the balance sheet;
- founded as funds with property, including cash, not exceeding 3 million RUB;
- nonprofit organizations which are consumer cooperative societies, the activities of which are regulated by the Federal Law dated 19.06.1992 No. 3085-1 "On consumer cooperation (consumer societies, their unions) in Russian Federation".
According to data of the Information and Analytical system Globas, in Russia, there are more than 6 thousand small businesses that meet the updated financial criteria for conducting the mandatory audit of 2019 financial statements.