The essence and significance of the organization's finances. What is the main meaning of the operational function of finance The main meaning of finance is
3. What is the main meaning of the operational function of finance.
a) Activities related to the regulation of real money circulation within the framework of an entrepreneurial structure implement a set of functions of an enterprise's finances, including: providing, distributing and controlling.
b) The supporting function of enterprise finance suggests that the enterprise must be fully secured in optimal size necessary funds, subject to a very important principle: all expenses must be covered by their own income.
V) Integral part providing the function of the finance of the enterprise is an operational function, the meaning of which lies in the current provision of enterprises with funds for normal functioning, that is, making payments and settlements, fulfilling short-term obligations. The operational function does not have a significant impact on the long-term development strategy of the enterprise. Therefore, it is limited to financial support for simple reproduction. The provisioning function prioritizes the accumulation of capital to solve long-term investment problems. Operational management (a set of measures developed on the basis of an operational analysis of the financial situation in order to obtain the maximum effect at a minimum cost through the redistribution of financial resources)
4. Is the salary always issued at your enterprise on time? Give reasons for both positive and negative answers.
a) Wage is the price paid to an employee for the use of his labor, the value of which is determined by the labor market, i.e. labor demand and supply.
b) Wages must be paid to employees at least every half a month (Article 136 of the Labor Code of the Russian Federation). Other payment terms are allowed. wages federal law (for certain categories of workers).
c) Employees of our organization receive wages on the 1st and 16th of each month. On the 16th, an advance payment is issued for the previous half-month, and on the 1st - wages for the entire previous month. The collective agreement establishes that the advance payment for the first half of the month is 50% of the monthly salary. The salary at the enterprise in which I work is always issued on time. The absence of delays in the payment of wages is due to the competent management of the financial activities of the enterprise, good economic and financial performance of the company, and a positive trend in the work of the organization's employees.
5. How is the debt of your company to suppliers? budget? Are there large amounts of arrears?
a) Accounts payable is the debt of the enterprise to other organizations and enterprises, legal entities and individuals. Accounts payable arise as a result of attracting funds from other organizations, enterprises and individuals, as well as for all types of payments to the budget, extra-budgetary and other funds.
b) The debt of our company to suppliers in 2010 is 6814 thousand rubles, which indicates the diversion of own funds into accounts payable, which can adversely affect the financial condition of the enterprise. The repayment of accounts payable from some organizations is the repayment of receivables from other organizations. Therefore, the elimination of accounts payable is of great importance, because. the reduction of funds in the field of settlements and the acceleration of the latter contribute to the acceleration of the turnover of working capital.
c) Financial relations that develop between the state, legal entities and individuals are called budgetary relations. As a result of the fulfillment of the obligations of legal entities and individuals to the state, a budget fund is created in which these relations materialize.
The debt of our company to the budget at the end of 2010 is 114 thousand rubles. Our company has no overdue debts.
6. What financial plans and for what period does your company make?
a) Financial planning is understood as a set of activities for the preparation and presentation of plans for the formation of income and expenses. Financial planning is part of n / x planning. It allows you to link the indicators of the n / x plan with their monetary funds
The object of financial planning is the financial activities of business entities and the state, and the final result is the preparation of financial plans, from the estimate of an individual institution to the consolidated financial balance of the state.
The following data serve as the initial basis for developing the financial plan of the enterprise:
The planned amount of proceeds from the sale of products;
Planned profit and profitability of production;
Established amounts of payments to the state budget and appropriations from it;
Volumes of state capital investments;
Amounts of appropriations from centralized funds for various planned goals, planned values of fund-forming indicators.
b) It is customary to distinguish three types of financial plans:
The balance of income and expenses is planned;
Preliminary (for the expected period);
Executive (final).
There is also the so-called checking balance of income and expenses, which is a chess sheet (chess balance).
c) Our company is developing a financial plan, the final section of which is the balance of income and expenses. The development of the financial plan is carried out by the financial service of the enterprise. In its revenue side, they show the planned profit, depreciation deductions, appropriations from the budget and other receipts, in the expenditure side - deductions to the budget, investments in capital construction and overhaul, increase in working capital, deductions to higher organizations and others.
Therefore, the financial plan of our organization includes the following sections:
Profit distribution plan,
Calculation of working capital and their growth,
Calculation of depreciation charges.
Financing of capital investments.
Calculation of payments to the budget.
Estimate for the training of personnel at the enterprise.
Calculation of the financial reserve.
The plan is drawn up for the quarter with a monthly breakdown.
Conclusion
So, in this control work, I answered the main questions regarding the functions of finance, we summarize the above material and draw conclusions.
Finance performs two functions: distributive and control. The operation of paying income tax to the state budget refers to the distributive function of finance.
Activities related to the regulation of real money circulation within the framework of an entrepreneurial structure implement a set of functions of an enterprise's finances, including: providing, distributing and controlling. The meaning of the operational function of finance lies in the current provision of enterprises with funds for normal functioning.
Wage is the price paid to an employee for the use of his labor, the value of which is determined by the labor market, i.e. labor demand and supply.
Accounts payable is the debt of the enterprise to other organizations and enterprises, legal entities and individuals.
The financial plan must ensure the economically viable use of Money to finance the activities of the enterprise.
List of used literature
1. Azrilyan A.N. Big Economic Dictionary: 25000 terms - M .: Institute of New Economics, 2007, - 1376 p.
2. Eliseev A.S. Modern Economics: Textbook. - St. Petersburg: Dashkov i K, 2006, - 503 p.
3. Lipsits I.V. Economics: Textbook. - M.: Vita-Press, 2007. -315 p.
4. Finance, money circulation and credit. Textbook. / Ed. VC. Senchagov and A.I. Arkhipova.- M.: Prospekt, 2007. - 400 p.
And decentralized cash funds in order to increase the efficiency of social production, improve the quality of work in all parts of the national economy. The object of the control function of finance is the financial performance of enterprises, organizations, institutions. The form of implementation of the control function of finance is financial control. If the control function of finance...
The finances of enterprises can be subdivided into the finances of industry, agriculture, transport, communications, construction, supply, trade, housing and communal services, and roads. The organization of the finances of an enterprise is influenced not only by industry specifics, but also by organizational and legal forms of management. Taking into account the organizational and legal forms, the finances of enterprises should be divided into ...
1 Soc.-economy. essence of finance.
Finance- these are economic relations that proceed in monetary form, associated with the distribution of part of the GDP and national income, resulting in the formation of financial resources accumulated in centralized and decentralized funds for the purpose of their use in the interests of the state, enterprises and citizens.
main meaning finance is the distribution and redistribution of life values between individuals. In determining the economic essence of finance, it is logical to clarify such important issues as the period of the appearance of finance, the need for their appearance, the difference from money, the scope of operation, and the functions that reflect their essence. Appearance period: the word finance arose in the Middle Ages in the trading cities of Italy during the formation of commodity-money circulation and the growth of the state's need for monetary resources. In France in the 16th century The word finance was used in the meaning of "state. income" or "money". In Russia, this term was used in the era of Ivan the Terrible in the 2nd half of the 16th century. And it was used along with the word treasury. The need for their presence due to such factors as: the existence of commodity-money exchange, stimulated by the development of the market; the operation of the law of value, which ensures the distribution of GDP and its component part of profit; asynchrony of production and consumption. The difference between finance and money: finance is always monetary relations, in a cat. the main subject is the state. However, not all monetary relations do not always involve finances: the concept of money is wider, and finances are part of monetary relations, they differ from money in essence, in content, in functions, money is a universal equivalent, based on a cat. evaluate the labor costs of producers, and finance-economy. a tool for the distribution and redistribution of GDP and ND, a means of control over the formation and use of funds of funds. Scope of operation: in theory there is no definite point of view on which of the phases money exists. Allocate 2 main. approach to determining the phases of the existence of only money or money and finance. According to one of them, the real movement of funds occurs at the stages of distribution and exchange, and the emergence and functioning - at the stage of distribution. In the second - at the stage of distribution, finances arise, and function at all stages. Functions: the essence of finance, like any economy. category, manifested in their functions, expressing the order of implementation of the total. destination any economy. categories.
2 S-ma fin relations
As an ek, the f-sy categories express the relationship of m / d ek by subjects regarding the form and use of den funds, i.e. f-sy- this is not just money, but an organic unity of 3 elements, at least 2 subjects, an object and the relatives themselves. Subjects of financial relations act: individuals, families, informal orgs, legal entities, interstate legal entities, associations of states, etc. Citizens, families, orgs, the state form the internal organization of the subjects of f-owls of each country, and the rest form the international sphere. f-owl object represent financial resources. They cover all the multitude of real and ef-th values, to them. value expression: 1 Money (paper, credit, etc.), the cat does not contain art, but is able to personify real material things, spirit, social values; 2 Securities; 3 Obligations of eq subjects. The totality of interrelations regarding the change of the object constitutes a complex system: 1st group. Financial relations of individuals cover the relationship of m / d from people or individuals. This includes different attitudes about the form and use of den funds by individuals, within the circle of relatives, acquaintances, who take an active / passive part in the d-sti people. This sphere is organically connected with the relationship of a person with a family, composed 2nd group. In the 3rd group including relative otd people with non-government pr-you, fin-credit, commercial and other org-tions about the formation and use of den resources. 4th group rel reflects the flow of money from funds m / d by individuals and state legal entities, in which the main place is occupied by the movement from one side of payments to the budget, and sdr - different payments of state organizations (salary, social benefits, etc. ). 5th group arises in the presence of several owners, org-tions and expresses the relative m / d them about the form of the initial money of the funds and the distribution of the final financial results of Comrade. 6th group–den communication of citizens with economic entities of foreign states, as well as with interstate organizations in terms of investment, income, etc. 7th group- relative to non-gos orgs with other non-gos, production, financial credit, commercial and other orgs about the formation and use of den resources. In this area, the origin of the form of devidents,%, the sale of created goods, etc. 8th group- relative m / d non-government organizations and state legal entities
Finance is an integral part of monetary relations. Their role and significance depends on the place monetary relations occupy in economic relations. However, not all monetary relations express precisely financial relations. Finance differs from money, both in content and in the functions performed.
The main purpose of finance is to meet the needs of the state and enterprises in cash through the formation of cash income and funds. Finance is the link between the creation and use of national income. They affect production, distribution and consumption. Satisfying the needs associated with the development of production, the needs of the employee and his family, the finances of the enterprise and households serve the process of changing the form of value(commodity, monetary).
State finance serves the process of changing the form of ownership on a national scale, ensuring the satisfaction of social needs (defense, culture, education, management, etc.) and social protection of certain groups of the population (unemployment benefits, pregnancy benefits, etc.).
In addition to traditional functions, the state performs the functions of regulating economic processes, since more than 20% of GDP and 10% of the total social product are redistributed through the republican budget. This makes it possible to systematically carry out reproduction processes and finance priority areas of the economy. Meanwhile, as a result of subjective volitional decisions, financing may be inefficient.
It should be noted that the market economy has led to the strengthening of the role of finance. This is due to the following circumstances:
Firstly, with the emergence of new economic entities along with traditional groups, new groups emerge financial relations. At the same time, the relationship between them becomes more complicated.
Secondly- finances become independent sphere of monetary relations, acquire some isolation. Money as the material basis of finance, performing the function of a medium of exchange, become capital i.e. self-increasing cost.
Third, there is a decrease in the role of finance at the micro level and an increase in the importance of finance at the macro level.
The transition of the country to new economic relations caused a significant decline in production, the emergence of unemployment, exacerbated social and economic instability, inflation, and so on. Under these conditions, the financial policy of the state becomes unstable and often changes. However, the following trends are emerging:
Financial resources are concentrated not only in the budget, but also in other funds - pension, employment, health insurance;
The budget is mainly replenished by taxes. The main emphasis on the tax results in an even greater decline in production. Therefore, there is a need to improve the tax system;
Financing of the national economy from the budget is reduced - from 60% to 12% - which indicates the state's non-intervention in the economy.
The role and importance of finance in the economy
The role of finance in the economic life of business entities and the economy as a whole is based on its functions, and, above all, on the distribution function that characterizes the mode of operation of the category of finance. This function in itself provides redistributive processes, regardless of their consequences. At the same time, depending on the specific economic situation, economic and financial policy, the formation of financial funds and their spending can have both positive and negative economic results.
Under favorable conditions and a sound economic and financial policy, the funds of financial resources formed in the process of financial activity, the organization and directions of financial flows have a significant positive impact on economic and social development. At the same time, if final consumption in the economy as a whole exceeds gross disposable national income, this indicates negative processes. Similarly, positive or negative results of financial and economic activity can develop in sectors and branches of the economy and at enterprises. In this regard, financial policy is one of the leading economic levers for organizing social reproduction, a powerful factor in the development of the national economy as a whole.
Serving the reproduction of capital, finance is a tool for the formation of funds used to continue and develop production on the basis of distribution and redistribution processes. The basis for the formation of these monetary funds is the formation of income, predetermined by production. However, the final disposable incomes of the economy as a whole, sectors of the economy, industries and the net profit of enterprises, although they depend on the primary formation of incomes, but, as noted, can differ significantly from them. These differences are a consequence of the impact of financial relations in the process of redistribution of income on the formation of monetary funds that have a designated purpose. Such an impact leads to a redistribution of income between enterprises, industries, etc. and creates the prerequisites for changes in the economy. These changes provide conditions for innovative processes, progressive structural shifts in the economy, changes in the levels of development of individual territories, etc.
With all the diversity of the role of finance in the development of the economy, it is usually reduced to two main areas: financial support for expanded reproduction and financial regulation of the development of the country's economy. Let's take a closer look at these areas.
Financial support for reproduction involves the formation of monetary resources to cover the costs of production and sale of goods and services, expansion and technological development of production. The cash funds formed in various sectors of the economy provide not only the development of production, but are also a source of funds for solving social problems, improving the living standards of the population and developing human capital. The growth of funds used for accumulation and their effective investment are the basis for accelerating economic growth and social progress. A decrease in the volume of financial resources and their irrational use lead to a narrowing of the scale of reproduction, and with a large depth and duration, to a decrease in resources for final consumption and deterioration of living conditions.
Financial support for the activities of enterprises is initially based on the authorized capital. At the same time, in the process of financial and economic activity, the funds of enterprises can increase at the expense of net profit, i.e. profit remaining at the disposal of enterprises after paying taxes and other obligatory payments. The funds accumulated by enterprises, as well as temporarily free depreciation deductions formed in the production process, are the basis for the development and innovative renewal of production. Along with their own funds, enterprises widely use direct borrowed funds from credit institutions and funds from the issuance of bonds. These funds are attracted on the basis of payment and repayment. In addition, funds from the state and municipal budgets in the form of grants, subsidies and loans, as well as other attracted funds, can be used.
Among the various sources of funds, the decisive role belongs to the own funds of enterprises. It should be borne in mind that any attraction of borrowed funds entails the need to form funds of own funds to repay debts and pay interest on them.
The most important characteristic of the activity of all economic units is their balance of assets and liabilities. The increase in assets indicates positive results financial and economic activity.
Economic regulation. In a market economy based on private property, each economic entity carries out entrepreneurial activities individually, based on own interests. In the process of production, its participants independently determine the goals of their activities, partners, forms of interaction. Their interests are often conflicting. A balanced proportional development of production is achieved in the process of its economic, including financial, regulation. The basis of regulation is the objective laws of the market, market competition. The processes of distribution and redistribution of financial resources taking place on the basis of competitive production provide funds for the restructuring of production in accordance with the changing needs of society, balancing supply and demand. Coordination of interests and adjustment of subjects of a market economy are carried out primarily on the basis of self-regulation of the market and the use of financial relations for the redistribution of monetary resources between various business entities. Enterprise finance mainly ensures the redistribution of financial resources within economic entities and between economic entities based on the transfer of property income and transfers, as well as through the use of lending mechanisms and the securities market.
Regulatory mechanisms of enterprises by themselves do not ensure the optimal distribution and use of financial resources.
Lack of market self-regulation can lead to economic and financial crises. In this regard, there is a need to regulate economic processes at the macro level. Such regulation, aimed at mitigating crisis phenomena, is carried out by stimulating or limiting economic growth and investment, regulating money circulation, Central Bank discount rates, exchange rates and other instruments.
Scientific and technological progress and the formation of an information-industrial society require increased attention to the development of innovations, high-tech industries and industries. In order to accelerate scientific and technological development, there is an urgent need to stimulate and support it, especially in the context of globalization, when domestic markets are easily captured by foreign firms. Industries also need economic support defense industry And Agriculture ensuring the country's food security.
Private entrepreneurship is not sufficiently interested in the development of human capital, which is a complex of innate abilities, general and special education, acquired professional experience, knowledge, creativity, morality, but psychological and physical health, providing an opportunity to generate income. At the stage of formation of a new information-industrial society, human capital turns into the main factor of social economic development. The interests of private entrepreneurs are limited mainly by the needs of their enterprises. Meanwhile, human capital is considered as a category that brings benefits not only to the owners of the enterprise, but also to society as a whole.
A serious danger is the monopolization of production and financial resources.
In this regard, as well as for a number of other reasons, the market economy plays a significant role state regulation economy and financial resources. State regulation allows you to reconcile the interests of private business with the interests of society as a whole. It can contribute to the development of human capital through the support of education, health care systems and the creation of more favorable living conditions, contribute to the mitigation of crisis processes, promote innovation and major progressive structural changes, implement institutional transformations, ensure the creation of infrastructure that contributes to the development of both the social sphere and production activity.
Within the framework of the financial system, the state influences economic development through tax and depreciation policies, government subsidies, subsidies, loans, investments, public-private partnerships, government spending on the purchase of goods and services, financing the budget deficit and in other ways.
Taxation is the main instrument that determines the scale of accumulation of income generated in the economy in the centralized funds of the budgets of state and municipal governments and in state off-budget funds. It has a direct impact on the amount of enterprise cash funds that can be used for capital accumulation. With a broad tax base and a uniform tax burden on economic units, the neutrality of the tax system in relation to enterprises of various sectors and branches of the economy is ensured. In this case, taxation in itself does not affect the movement of financial resources between sectors of the economy and industries. At the same time, public authorities can use the system of tax incentives and accelerated depreciation in order to attract resources to promising industries and industries, accelerate innovation processes, develop individual regions and achieve other goals in the interests of society as a whole.
Along with tax policy, public authorities can influence production through subsidies, subsidies, public investment and loans.
Government spending is the cost associated with the implementation of the state of its functions. Expenditures consist mainly of purchases of goods and services, salaries of civil servants, transfers related to social payments, and interest payments on public debt. The state has a direct impact on the economy, increasing or decreasing both the total amount of expenditures and expenditures on individual sectors and branches of the economy. On a large scale, as part of public expenditures, according to their functional purpose, the following can be distinguished:
Expenditure on public services of general purpose (for legislative and executive authorities, foreign policy, defense, maintenance public order, security, etc.);
Expenses for public and social services (for education, health care, social insurance and security, housing and communal services, mass media, culture, etc.);
Expenditure on public services related to economic activity (to provide more high efficiency economic activity, creation of conditions for economic growth, targeted programs of an economic nature, creation of new jobs, etc.).
It should also be taken into account that government revenues and expenditures are closely related to government assets and liabilities and have a direct impact on them. The flows of funds in and out of government lead to changes in assets and liabilities. On this basis, a balance of assets and liabilities of the state can be drawn up, characterizing the value of assets owned by it at a certain point in time, and financial claims on it from institutional units of other sectors. The total value of the state's assets, less claims on it, forms the net asset value and reflects the value of its property.
Assets are divided into financial and non-financial. Financial assets include financial claims (cash, securities, etc.), monetary gold, and special drawing rights provided by the IMF. Non-financial assets include fixed assets, inventories and valuables. The value of the net asset value and its dynamics, determined by the ratio of incoming and outgoing flows of funds, is the most important characteristic of the financial condition of the state.
State regulation in the field of finance, as well as in other areas of the economy, is not only necessary, but also inevitable. At the same time, it should be taken into account that its directions and scales have objectively determined boundaries. Excessive government intervention is fraught with a weakening of economic incentives, the loss of reasonable criteria for assessing the situation, and a decrease in the efficiency of the economy.
Financial regulation is carried out along with and in cooperation with other economic regulators. Such regulators are, in particular, credit, prices, foreign exchange and customs policy. The use of these and other regulators should be subordinated to the general strategic goals of socio-economic development, tasks and general economic policy at each stage of development.
1. The essence, functions and significance of finance and financial resources of commercial organizations in the financial system of Russia.
Finance - monetary relations of economic entities, including the state, as a result of which the income of society changes its structure, increasing in the hands of one entity due to the withdrawal of this part and another entity.
The essence of finance is manifested in their functions. Functions refers to the “work” that finances perform. The question of the number and content of functions is debatable. Some well-known financiers, such as A.M. Birtman, identified three main functions: providing the process of managing with money, controlling the ruble, and distributive. A.M. Alexandrov and E.A. Voznesensky argued that finance is expressed in the formation of monetary funds, the use of monetary funds and control. I.T. Balabanov believes that with the transition to market relations, finance has lost its distributive purpose.
However, no one denies that finance is a set of monetary relations organized by the state, in the process of which the formation and use of funds of funds is carried out. The source of the formation of numerous funds at different levels is the gross domestic product. It is possible to carry out the process of distributing GDP using financial instruments: norms, rates, tariffs, deductions, and so on, established by the state.
If we consider finance as a whole, then, apparently, it should be considered that they perform three main functions: distributive, control, and regulatory.
The distributive function is carried out in all spheres of social life, that is, in material production, the non-material sphere, the sphere of circulation. The subjects of distribution are at the micro level - legal entities and individuals, at the macro level - the state. The objects of distribution are GDP and national income in monetary terms. The distribution function is a complex function, it covers three successive steps:
1) the formation of funds of funds: at the micro level, the financial resources of economic entities necessary for the circulation of capital are created; household funds; at the macro level - centralized state funds;
2) distribution of monetary funds through financial instruments: at the micro level, separate funds of the enterprise are formed ( authorized capital, wage fund, depreciation fund); household cash for specific consumption; at the macro level - budgets of all levels and off-budget funds;
3) use of monetary funds. At the macro level - improvement of national economic proportions; national needs of the country; at the micro level - expanded production and financing of individual members of society.
Distributive and control functions are two sides of the same economic process. The basis of the control function of finance is the movement of financial resources. In this regard, it becomes possible and necessary to control the provision of cost and natural-material proportions in the process of expanded reproduction.
The control function is manifested:
1) before the onset of the distribution process (plans, programs, estimates, forecasts, budgets are drawn up);
2) in the process of executing funds of funds (during the implementation of planned programs, estimates, budgets, and so on);
3) in the process of debriefing, making estimates. Execution of funds.
The control function is implemented:
1) through financial and economic control at individual enterprises;
2) financial and budgetary control (when making tax payments and financing from budgetary resources);
3) credit and banking control (when using the principles of lending and cash settlements).
The object of the control function is the financial performance of the enterprise. If in practice the control function is not carried out, then it is not possible to evaluate the effectiveness of the distribution function.
The regulatory function of finance is not carried out spontaneously, but in accordance with legal norms. The set of norms, regulations and rules is designed to regulate financial activities. In this regard, this function is manifested at all levels, in all spheres and links of financial relations in the hierarchy of its construction. At the macro level, this function, using government spending, taxes, government loans, achieves the results of improving the quality of the production process, improving the material situation of workers, and creating various funds. At the micro level, such results are achieved.
Finance exercises control at all stages of the creation, distribution and use of the social product and national income. Their control function is manifested in all the variety of economic activities of enterprises. The ruble is controlled by production and non-production costs, the correspondence of these costs to income, the formation and use of fixed assets and working capital. It operates at all stages of the circulation of funds, in financing and lending, conducting cashless payments, in relations with the budget and other parts of the financial system.
The interconnection and interdependence of the constituent links of the financial system are due to the single essence of finance.
Through the financial system, the state influences the formation of centralized and decentralized funds, accumulation and consumption funds, using taxes, state budget expenditures, and state credit for this.
Within the framework of the financial system, a variety of activities are carried out, including planning, financing, investing, taxation, insurance, financial and accounting activities, auditing, financial inspection and others.
According to the main features of finance, finance can be distinguished from the totality of monetary relations. The monetary relations that arise between citizens and retail trade cannot be attributed to finance, since the state here regulates monetary relations by the civil law method, for which the characteristic feature is the equal position of the subjects united by these relations.
Thus, finance is always a monetary relationship, but not any monetary relationship is always a financial relationship.
The market economy has led to the strengthening of the role of finance. First, with the emergence of new economic entities, along with traditional ones, new groups of financial relations arise, the relationship between them becomes more complicated. Secondly, finance becomes an independent sphere of monetary relations, acquires a certain isolation. This is due to the fact that in market relations money (the material basis of finance), performing the function of a means of circulation, becomes capital, that is, a self-increasing value. Thirdly, there is a change of priorities; a gradual decrease in the role of finance at the macro level and an increase in the importance of finance at the micro level.
With the help of finance, the state distributes the social product not only in natural-material form, but also in value. In this regard, it becomes possible and necessary to control the provision of cost and natural-material proportions in the process of expanded reproduction.
Chapter 1
farms
1.1. Socio-economic essence and functions of household finance.
Household finances are economic monetary relations carried out by individual members of the household to create, distribute and use funds of funds in the course of their activities.
The finances of the household (households), in the conditions of the development of market relations and the expansion of cash flows, are singled out as an independent link in the financial system, which belongs to the sphere of decentralized finance. This is due to the ever-increasing economic role and social significance of households in modern society.
In economic theory, a household is a household that is run by one or more persons who live together or have a common budget. Household unites all employees, owners of large and small capital, land, securities, who are employed and not employed in social production.
Household finances in the conditions of developed market relations participate in the circulation of capital and cover part of the production process. However, unlike the finances of commercial enterprises and organizations, which are of decisive importance in the creation, primary distribution and use of the value of GDP and national income, household finances have not become a priority link in the financial system and play a subordinate, albeit important, role in the total set of financial relations.
Households are one of the important subjects of economic activity, the results of which determine not only the well-being of an individual economic unit, but also the entire population as a whole. Households play a dual role in the economy: they are ultimately the providers of economic resources and at the same time the main spending group in the national economy. Having become the largest economic entity, along with commercial organizations and the state, the household participates in all macroregulatory processes. The well-being of not only a separate economic unit, but also the population of the country as a whole depends on the results of their economic activity.
Households are in close relationship and interdependence with the country's economy and are determined by the socio-political stability of society. Any changes in economic relations inevitably affect their activities. A general economic upsurge leads to an improvement in the material situation of families and may deter their active activity, while a recession leads to an increase in this activity in order to maintain the same living conditions.
The emergence of household finance occurs at the second stage of the production process - the distribution of the value of gross domestic product and national income. Household members participate in the primary distribution because they own the labor force and receive primary income in the form of wages at the enterprise or income from self-employment. By paying taxes to the state, they are entitled to various payments from the budget and off-budget funds, such as pensions, allowances, etc., thus they take part in the redistribution of GDP and ND, i.e. acquire the right to secondary income.
Household finances are in the form of money. In the conditions of market relations, household members receive various types of income (wages, pensions) in money (national currency, foreign currency, bills, etc.), and even income in kind is valued in monetary form.
The expenditure of income also occurs with the help of money. Monetary relationships that develop among household members become financial when monetary funds arise and are used.
There are internal and external monetary and financial relations of households. Internal include financial (monetary) relations for the formation of various family funds (reserves, for the purchase of durable goods, buying an apartment, etc.), external - relations with legal entities and the state.1
The socio-economic essence of household finance finds its manifestation in functions. Now they perform two main functions: ensuring the vital needs of the family and distributive.
The main one is the function of ensuring the vital needs of the family. It creates real conditions for the existence of members of this family. The development of market relations has significantly influenced the form of manifestation of this function. During the period of subsistence farming, the products created by household members met their needs, and the exchange of surpluses occurred rarely, in small quantities, and as a rule, in the neighborhood.
Commodity-money relations, the emergence and then the increase of the market led to:
Expansion of material, social. Cultural and other needs of the family;
Creation and growth of household funds;
The emergence of a monetary fund - a family budget designed to provide material benefits.
distribution function household finance covers the distribution of the value of GDP and ND and the formation of family income, acting in the form of various funds. The distribution process carried out by household finances occurs:
Between this economic unit and other areas and links of the financial system (public finances - budgets, extra-budgetary funds, finances of enterprises). As a result, as was said, primary and secondary incomes are created in the form of wages, pensions, allowances, etc.;
Within a separate household, when the total income of the family is distributed among its members, forming separate monetary funds for each. Separation of funds within the household does not change the owner and excludes any equivalence.
This function includes three consecutive steps: the formation, distribution and use of funds.
In modern economic literature, in addition to these two functions, there is a control one, meaning control over the distribution of income received among various funds and the intended use of the funds from these funds, and a regulatory one that supports the balanced development of the household as a whole. However, these functions can be seen as part of the regulatory function, which involves regulation and control.
All household functions are interconnected and operate simultaneously, complementing each other.
Correct answers are marked with a "+".
To the left of the wording of the question, the complexity of the test task indicated by the authors:
P - simple (a priori - 3 points on a 10-point scale);
С - complex (5 points);
PS - increased complexity (7 points).
Topic 1. Essence and functions of finance
C 1. Why can finance be regarded as a historical category?
1. They arose at a certain stage in the development of society;
2. They arose with the advent of the state; +
3. They arose under the influence of two factors: commodity-money relations and the distribution process; +
4. They are due to the social division of labor and the division of society into social groups;
in the process of formation of financial resources; +
in the process of production of GDP and ND;
in the process of distribution and redistribution of GDP and ND;
in the process of exchanging GDP and ND;
in the process of formation of cash funds.
C 4. What is the main difference between finance and money?
finance in volume is less than money;
finance historically appeared later than money;
finances perform two functions, money - 5 functions
finance is a tool for the distribution and redistribution of GDP and ND, and money is the universal equivalent. +
P5. Finance functions include:
distribution of GDP and ND and the formation of monetary funds;
distribution of GDP and ND and control; +
means of accumulation and means of payment;
distribution of GDP and NL and regulation;
C6. What are financial relationships?
sale of goods in stores;
obtaining a bank loan;
the relationship between the individual links of the budget system; +
payment utilities population.
P7. what are the financial resources of society?
enterprise cash;
cash income and funds of organizations, the state and the household; +
state revenues
household income
PS 8. Select an element of decentralized financial resources:
1.Profit; +
2. State borrowings;
3. Government revenues;
PS 9. Select an element of centralized financial resources:
1. Taxes; +
2. Amortization funds of commercial enterprises;
3. Cash income of individuals;
4. Interest on securities issued by enterprises;
P 10. Choose a trait that characterizes finance:
1. Finance involves the export of capital;
C 11. What incomes are created in distribution relations?
primary and secondary; +
material aid;
household income;
reserves of enterprises and the state.
C12. what is a financial mechanism?
set of economic relations;
a set of forms of organizations of financial relations and methods of formation and use of financial resources; +
funds of organizations;
the process of managing cash flow in production.
Topic 2 Financial system
P 1. What is the financial system?
A. The totality of spheres and links of financial relations. +
B. The totality of taxes;
C. The totality of cash income.
D. The totality of financial control bodies.
E. The totality of cash expenditures
P 2. What areas of financial relations does the financial system include?
A. Decentralized and centralized; +
B. Control and distribution;
B. Distribution and redistribution;
D. Profits of enterprises and finances of households;
D. Centralized and insurance funds.
P 3. Indicate the links of the financial system (select one complete answer):
A. Enterprise finance;
B. Finances of organizations, finances of households, budgetary system; +
B. Off-budget funds;
D. Budgets at various levels;
C 4. The basis of the financial system of the Russian Federation is:
A. Federal budget;
B. Budget system;
B. Budget system and off-budget funds;
D. Organizational and household finances; +
C 5. The current budget system of the Russian Federation covers:
A. Federal budget, regional budgets;
B. Federal budget, regional budgets, local budgets;
B. Federal budget, regional budgets, local budgets, off-budget funds; +
D. Federal budget, off-budget funds;
D. Federal budget, local budgets.
P 6. Consolidated budget includes:
A. Territorial budgets;
B. Local budgets;
B. Federal target budget funds;
D. Federal budget and consolidated budgets of subjects of the Russian Federation; +
D. Territorial target budget funds.
G 7. Please indicate the current extrabudgetary trust fund
A. Pension fund; +
B. State Employment Fund;
B. Federal Road Fund;
D. Federal Ecological Fund;
PS 8. What is main reason improving the financial situation of the Russian Federation at the turn of the 20th and 21st centuries?
A. Increase in energy prices; +
B. Growth of GDP and ND; +
B. Depreciation of wages as a result of inflation;
D. Tax reform.
P 9. How many links are there in the budgetary system of a unitary state?
D. Four.
P 10. How many links in the budget system of the federal state?
D. Four.
Topic 3. Budget, budget device and budget system
P 1. What functions does the state budget perform?
A. redistribution of national income. +
B. warning function
B. statistical function
G. observational function
C 2. What expenditures dominate the RF Federal Budget (tick two items)?
A. environmental protection costs
B. spending on culture, arts, media
B. financial assistance to budgets of other levels +
D. national defense spending +
P 3. Do the budgets of countries with developed market economies provide for the repayment and servicing of public debt?
A. yes, provided +
B. no, not provided
PS 4. What budget is assigned to taxes that provide the largest revenues to the budget system?
for the federal budget +
for the budgets of the constituent entities of the Russian Federation
for local budgets
PS 5. Is the definition of a non-tax minimum used in foreign practice when taxing income tax?
A. yes, used +
B. no, not used
P 6. Do customs duties go to the federal budget of the Russian Federation?
P 7. What is the leading link in the budget system of the Russian Federation?
A. federal budget +
B. regional budgets
B. local budgets
D. off-budget funds
C 8. What type of expenditure dominates in the expenditures of the federal budget of the Russian Federation?
A. for current consumption +
B. Investment in fixed assets
B. costs associated with space research
D. costs associated with public administration
C 9. From what source is the activity of the Accounts Chamber of the Russian Federation financed?
A. from the federal budget of the Russian Federation +
B. from regional budgets
V. from local budgets
C 10. Which types of expenditures from the following are predominant in the expenditures of the federal budget of the Russian Federation?
A. repayment and servicing of public debt +
B. science and basic research
B. fishing
G. agriculture
PS 11. Which of the following statements is correct?
A. budget expenditures are only reimbursable
B. budget expenditures are only irrevocable
B. budget expenditures can be both reimbursable and non-refundable +
P 12. What revenues dominate the federal budget revenues?
A. loans from international financial and credit organizations
B. tax receipts +
B. public loans
D. non-tax income
P 13. What is included in the composition of non-tax revenues of the federal budget of the Russian Federation?
A. income from municipal property
B. State fees
C. income from foreign economic activity of the Russian Federation +
D. proceeds from the sale of federally owned property
C 14. What document regulates the size of the federal budget deficit?
A. Tax Code
B. Budget Code +
B. Customs Code
PS 15. Domestic methods of financing the budget deficit include
A. placement of securities on a foreign market
B. issue of government securities in national currency
B. issue of government securities in national currency +
D. loans of the Paris Club of creditors
P 16. What methods of financing the budget deficit are external?
A. issue of money
B. loans from international financial and credit institutions +
B. income from the privatization of state property
D. issue of government securities in national currency
PS 17. The budget device is:
A. the device of the budget system
B. the totality of budgets operating in the country
D. a set of legal norms that determine the budget process and the construction of the budget system +
P 18. The budget system is:
B. total budgets operating in the country +
B. the activities of the authorities in drafting, reviewing, approving and executing the budget
D. a set of legal norms that determine the budget process
PS 19. What does the budget system of unitary states include?
A. state (federal) budget
B. state budget, budgets of federation members, local budgets
B. state (central) budget and local budgets +
P 20. What does the budget system of federal states include?
A. State (federal) budget
B. federal budget, budgets of federation members, local budgets +
B. state (federal) budget and local budgets
D. budgets of federation members and local budgets
PS 21. What are the principles of the budget structure?
A. unity, completeness, stimulation, publicity
B. control, unity, reality, balance
B. unity, independence, publicity, balance +
D. unity, stability, independence, completeness
P 22. The budget system of the Russian Federation consists of:
A. Level 1
B. 2 levels
B. 3 levels +
D. 4 levels
PS 23. Which of the following statements is true:
A. the budgets of municipalities are included in their incomes and expenses in the regional budgets
B. the budgets of the subjects of the federation are included in their income and expenditure in the federal budget
B. the budgets of municipalities are included in their revenues and expenditures in the federal budget
D. Territorial budgets do not include their revenues and expenditures in the federal budget +
PS 25. assertion that income and expenditures of lower budgets do not include higher budgets:
true only for unitary states
true only for federal states
true for both federal and unitary states +
not true for states with any state structure
C 26. What is the consolidated budget?
A. code of the federal budget and the consolidated budgets of the members of the federation +
B. set of local budgets
B. federal budget
D. set of regional budgets
C 27. Consolidated budget:
A. approved by the legislature
B. is compiled only at the federal level
V. is considered by the Federal Assembly of the Russian Federation
G. is not approved by the legislature +
C 28. Which fund plays an important role in regulating interbudgetary relations?
A. fund for financial support of regions +
B. International Monetary Fund
B. Federal Fund for Support of Small Business
D. Road Fund
C 29. Funds intended to equalize budgetary security come to the territorial budgets from:
A. federal budget
B. Fund for financial support of subjects of the Russian Federation +
B. international financial and credit institutions
G. charitable organizations
C 30. Funds transferred from higher budgets to lower budgets to finance a strictly targeted event are:
A. bank loans
B. tax deductions
B. subventions +
D. funds from the Stabilization Fund
C 31. Funds transferred from higher budgets to lower budgets, with a deficit of the latter, are:
A. subsidies +
B. subsidies
B. subventions
From 32. fixed incomes of territorial budgets include:
revenues received in full in the relevant budget
funds transferred from a higher budget to a lower one to finance a targeted event +
funds transferred on a credit basis
funds transferred from a higher budget to a lower one to cover the deficit.
From 33. the federal fund for financial support of the regions is formed by:
credit and attracted financial resources
at the expense of tax revenues received by the regional budgets
at the expense of tax revenues received by the federal budget +
at the expense of tax revenues received by local budgets
PS 34. The principle of independence of the budget device implies:
A. assignment to incomes and expenditures of territorial budgets of grouping codes of the budget classification peculiar only to them
B. availability of own sources of income for budgets of different levels and independent determination of directions for their use +
B. complete financial independence of lower budgets from higher ones
D. differentiation of income and expenditure between levels of the budget system
C 35. A single budget classification is used in the preparation, approval and execution of:
A. Only the federal budget
B. only regional budgets
B. budgets of all levels +
G. only local budgets
P 36. Mandatory publication in the media is subject to:
A. only the federal budget
B. only regional budgets
B. only local budgets
D. budgets of all levels +
P 37. What is the national defense budget?
A. from all budgets
B. from regional budgets
V. from local budgets
G. from the federal budget +
Topic 4. Budget revenues
C 1. Federal budget revenues are part of:
A. centralized finance +
B. decentralized finance
B. territorial budgets
С 2. What is the main material source of budget revenues?
A. national income +
B. accumulation of business entities
B. population accumulation
D. loans and borrowings
C3. Which of the following budget revenues are non-tax revenues?
state fees
customs duties +
3. payments for the use of natural resources
income from leasing state property
C 4. Do regional authorities have the right to impose taxes and fees that are not provided for by tax legislation in order to finance the budget deficit?
A. yes, they have in all cases
B. yes, they do in some cases
V. do not have +
D. yes, they have permission from higher executive authorities
P 5. What revenues dominate in the revenues of the federal budget of the Russian Federation?
A. public loans
B. non-tax income
B. tax income +
D. loans from international financial institutions
C6. The main sources of federal budget revenues are:
credit loans
VAT, income tax and personal income tax +
sales tax, land tax, personal property tax
state and customs duties
PS 7. Which tax revenues dominate federal budget revenues?
A. direct
B. indirect +
B. personal income tax
G. government fees
PS 8. Territorial taxes and fees are put into effect:
Decree of the President of the Russian Federation
Tax Code of the Russian Federation
legislative acts of territorial authorities in accordance with the Tax Code +
the Constitution of the Russian Federation
PS 10. Specific rates of regional taxes and fees are established:
A. federal laws
B. regional legislative acts +
B. local regulations
D. Budget Code
P 11. Local taxes and fees are obligatory for payment:
A. throughout the territory of the Russian Federation
B. on the territory of the respective municipalities +
B. on the territory of the corresponding subject of the Russian Federation
PS 12. Where do federal taxes and fees go?
A. only to the federal budget
B. only to territorial budgets
B. only to targeted budget funds
G. to budgets of different levels +
P 13. Which of the following taxes are direct?
A. income tax, personal income tax +
B. excises
D. different answer
P 15. Tax revenues are regulated by:
A. Law "On the Central Bank of the Russian Federation"
B. Tax Code of the Russian Federation +
B. Law "On the Securities Market"
D. Civil Code
P 16. Define the tax system as
the totality of all applicable taxes, as well as the principles, forms and methods of collection +
set of budgets in force in the country
set of credit institutions
PS 17. Does the tax system of the Russian Federation as a whole correspond to the world practice of foreign countries:
A. yes, it matches +
B. no, it does not match
P 18. Currently, taxation in the Russian Federation is regulated by:
Tax Code of the Russian Federation +
Budget Code
Law "On the Central Bank of the Russian Federation"
Topic 5. Budget expenditures
С 1. What expenses are included in the budget?
fixed capital reproduction costs
expenses that ensure the performance of the functions of the state +
expenses of legal entities and individuals
emergency expenses legal entities
C 2. What is the current budget expenditures?
1) +
2) capital repairs financing
3) capital construction costs
purchase of medical equipment
PS 3. The method of providing budgetary funds is:
defense funding
budget financing, budget credits and loans +
bank lending
PS 4. What budget expenditures are classified as earmarked?
wages of civil servants
purchase of raw materials
financing of capital investments +
federal taxes
PS 5. Which organizations are provided with budget loans only on the terms of 100% security?
government organizations
savings bank
private organizations +
municipal organizations
P 6. What is the purpose of budget expenditures?
covering any costs associated with production
financing the needs of legal entities and individuals
ensuring the functions performed by the state +
formation of state funds
C 7. what applies to capital expenditures
wages of civil servants
increase in government reserves +
purchase of textbooks
spending on public debt
С 7. Which of the classifications of the federal budget does the "national economy" section belong to?
economic
departmental
3) functional +
reproductive
С 8. what principle is typical for the organization of budget financing?
material incentives
targeted nature of the use of funds +
security
urgency
PS 9. Determine which of the following is a form of budget financing
payment of benefits
subventions and subsidies to organizations +
financing of capital investments
purchase of medicines
P 10. What are the principles for granting budget credits?
paid +
irreversibility
self-sufficiency
material interest
Topic 6. State loan
P 1. Which body is a mandatory participant in the state loan?
Individuals
Legal entities
State +
International institutions
C 2. Who can act as a state, entering into credit relations?
Seller
underwriter
Buyer
Borrower +
Professional participant of the securities market
C 3. What government activity prevails in the credit market
Lender
underwriter
Borrower +
Professional participant of the securities market
PS 4. Why does the government use government loans?
To replenish budget revenues
To finance the budget deficit +
To reduce the tax burden in the state
To ensure the employment of professional stock market participants
Regulation of the activities of the Central Bank of the Russian Federation
P 5. What functions does the state loan perform?
Distribution +
Formation of budget revenues
Incentive
PS 6. What is the public debt management body?
The Federal Tax Service
Tax authorities
Government +
Customs
P 7. Specify the form of debt obligations of the Russian Federation?
Sale of state property
Government securities issued on behalf of the Russian Federation +
Budget loans to legal entities
PS 8. What is the main feature of the difference between internal state loans of the Russian Federation and external ones?
Lenders
Loan currency +
Location
Yield
Investors
С 9. In what way are borrowed funds of the Russian Federation mainly mobilized in the domestic market at the present time?
Share placement
Placement of debt securities +
Obtaining loans from the Central Bank of the Russian Federation
Getting tax credits
PS 10. Choose from the following short-term securities?
Eurobonds
PS 11. Choose from the following government securities that have coupons?
PS 12. Match the security with the date of its original issue?
|
Eurobonds |
PS 13. Establish a correspondence between a security and the area of public credit to which it belongs?
C 14. What tasks can the government securities market solve?
Financing the budget deficit +
Placement of free funds of legal entities and individuals
Attraction of investments in the industry
C 16. Which of the following funds can be provided from the budget on a reimbursable basis?
Budget loans +
Subsidies
Subventions
C 17. Which of the following funds can be provided from the budget only on a returnable and reimbursable basis?
budget loans +
budget loans
subsidies
subventions
PS 19. Which entity develops the government domestic borrowing program?
The president
Federal Assembly
Vnesheconombank
PS 20. Which entity develops the government external borrowing program?
The president
Vnesheconombank
Savings bank
PS 21. Which body regulates the federal securities market?
Government
Federal Assembly +
Accounts Chamber
C 23. What clubs is the Russian Federation a member of as a creditor state?
Parisian +
London +
Tokyo
Topic 7. Extra-budgetary special funds
PS 1. Select the signs corresponding to extra-budgetary funds:
A. Include their income and expenses in the budgets of central, regional or local territorial entities
B. Formed at the expense of special-purpose income or in the order of targeted deductions from specific types of income and other receipts
B. They have a special purpose +
D. Formed at the expense of customs payments
C 2. Select the sources of formation of extra-budgetary funds in the Russian Federation?
A. Mandatory contributions of legal entities and individuals +
B. Loans from the International Monetary Fund
C. Income tax deductions
D. Customs payments
C 3. In which of the following years did the Russian Federation have no off-budget funds?
C 4. Select the functions that off-budget funds perform?
A. Distribution +
B. Statistical
B. Creation of credit instruments of circulation
G. Accounting
C 5. To what system did the Budget Code classify extra-budgetary funds?
A. To the budget +
B. To distribution
B. To credit
G. To money
PS 6. From what sources are state social non-budgetary funds formed?
PS 7. Establish a correspondence between the extrabudgetary fund and the direction of its funds.
P 9. What fund represents the system of federal extra-budgetary social funds?
A. Employment Fund
B. Pension Fund of the Russian Federation +
B. Federal Fund for Support of the Subjects of the Russian Federation
D. Road Fund
D. compulsory health insurance background
PS 12. What federal extra-budgetary fund has ceased to exist since 2001?
A. Federal Road Fund
B. Employment Fund +
B. Bonus Fund for employees of the Ministry of Taxes and Duties
D. Conversion Fund
D. Environmental Protection Fund
From 13 who drafted the budget of extra-budgetary funds
Ministry of Economic Development and Trade
Government
Accounts Chamber
Management bodies of these funds +
C 13. Who submits the draft budgets of state non-budgetary funds for consideration by the legislature?
A. Ministry of Finance
B. Government +
D. Accounts Chamber
E. Management bodies of these funds +
PS 14. Which body prepares a report on the execution of the budget of the federal extra-budgetary fund?
A. Ministry of Finance
B. Ministry of Economic Development and Trade
B. Government
D. Management bodies of these funds
D. Federal Treasury +
P 15. What expenses are financed from the Pension Fund?
temporary disability benefits
sickness benefits
childbirth benefits
payment of labor pensions +
P 16. What expenses are financed from the Pension Fund?
A. Temporary Disability Benefits
B. Benefits in connection with the birth of a child
B. Survivor benefits
D. Pension payments +
D. Benefit for treatment due to an occupational disease
P 17. Which of the following tasks is implemented by the Pension Fund?
A. Provides maternity benefits
B. Payment of sick leave benefits
V. pays labor pensions +
G. provides insurance against accidents at work
P 18. What is the main source of income for the budget of the Pension Fund of the Russian Federation?
A. Insurance premiums +
B. Proceeds from the sale of loans
C. Funds transferred from other extrabudgetary funds
D. Funds received from business activities
PS 19. Since 2001, which body has provided the bulk of the Pension Fund's income?
A. Central Bank
B. Ministry of Social Development
B. Structure of the Federal Tax Service +
D. The bodies of the Pension Fund themselves
PS 20 which body has been carrying out the execution of the Pension Fund on expenditures since 2001?
Federal Treasury +
ministry of social development
Structures of the Federal Tax Service
The bodies of the Pension Fund themselves
P 21. Parts of what taxes (tax) go to the budget of the social insurance fund?
A. Unified social tax +
B. Income tax
D. Mandatory contributions to social non-budgetary funds
P 23. Select the main source of income for the budget of the social insurance fund
appropriations from the budget
Deductions from the unified social tax +
income tax
mandatory contributions to social non-budgetary funds
C 22. What is the task of the social insurance fund?
A. Ensuring the payment of pensions to working citizens
B. Providing guaranteed state benefits for temporary disability, pregnancy and childbirth, at the birth of a child, etc. +
B. Financing of medical institutions implementing rehabilitation programs
D. Financing of public investment projects
C 23. Select the source of the formation of funds of compulsory medical insurance funds:
A. Deductions of a part of the unified social tax
B. Part of income tax paid by individual entrepreneurs
B. Deductions from budgets +
D. Income of medical institutions from the provision of paid services
P 24. Are CHI funds created at the territorial level?
B. Depends on the decision of the territory
D. Created before 2001, but now they are not being created
D. Began to be created in 2001.
P 10. What federal law regulates the budgetary process in the constituent entities of the Russian Federation?
A. Budget Code +
B. Tax Code
B. Civil Code
D. Criminal Code
P 11. Due to what source are the budget revenues of the constituent entities of the Russian Federation formed?
A. Taxes +
B. Funds transferred from local budgets
B. Credits of the Central Bank of the Russian Federation
G. Population loans
P 12. What is the source of local budget revenues?
A. Taxes +
B. Credits of the Central Bank of the Russian Federation
B. IMF loans
D. income of state off-budget funds
P 13. What extra-budgetary funds operate at the level of subjects of the Russian Federation?
A. Pension fund
B. Social Security Fund
B. Federal Compulsory Medical Insurance Fund +
D. Territorial CHI Fund
Topic 9. Finance of organizations
C 1. Finance of enterprises and commercial organizations is:
A. cash funds;
B. monetary relations arising from the monetary valuation of inventory items;
B. monetary relations arising in the process of cash flow and the formation, distribution and use of cash funds. +
PS 2. Under what conditions are decentralized funds of monetary circulation formed?
in cash flow +
when assessing the value of inventory items
when expressing the volume of sales of products in monetary terms
C 3. What is the material basis of financial relations?
A. the cost of labor invested in the production of products;
B. inventories of a commercial organization;
B. cash flow; +
G. cost of finished goods.
C 4. what is the criterion for grouping financial relations in separate areas
economic content of financial relations +
volume of production of a commercial organization
number of employees of a commercial organization
organizational and legal form of management
PS 5. what unites different groups of financial relations
scope +
flow of funds
form of payment
nothing unites
P 6. Are financial relations part of monetary relations?
A. Yes, they are; +
B. no, they are not;
B. these are equivalent concepts.
P 7. Which of the following functions belongs to finance?
A. accounting;
B. control; +
V. social;
G. estimated.
P 8. Which of the following functions is financial?
A. distributive; +
B. managerial;
B. estimated;
G. cumulative
PS 9. In terms of its economic content, the formation of additional capital
Is it distributive or redistributive?
distributive character
redistributive character +
contains both elements of distribution and redistribution
PS 12. What is the objective basis of the control function of finance
commercial organizations?
A. activities of audit firms;
B. cost accounting for the costs of production and sales of products; +
B. mobilization of financial resources of a commercial organization;
D. mobilization of financial resources of a commercial organization and the formation of budget revenues.
С 13. Is absolute economic independence of a commercial organization possible?
A. Yes, with the transition to a market economy, this principle has been fully implemented;
B. full implementation is possible only for profitable organizations;
V. no, full implementation is impossible, since the state always regulates certain aspects of entrepreneurial activity; +
D. This principle will be fully implemented when a stable economic situation in the country is achieved.
PS 14. What is meant by the principle of self-financing?
payback of current costs at the expense of own and borrowed funds
payback of current costs and investment in the development of production at the expense of own sources
payback of current costs and investments in expanded production at the expense of own funds and, if necessary, at the expense of banking and commercial
Credits +
PS 15. Is the principle of securing financial reserves legally
yes, all commercial organizations are legally in due course are required to form financial reserves
no, the decision to form financial reserves is the prerogative of the heads of commercial organizations
has only for joint-stock companies of open or closed type +
4. legally established the formation of a financial reserve for all commercial organizations except state and municipal enterprises
PS 16. Can a closed joint stock company freely sell its shares on the stock market?
B. Can only be subject to the secondary placement of securities;
V. cannot. +
PS 17. does a state unitary enterprise have the right to dispose of its property
it has the right to dispose of its property at will
it has the right to dispose of its property independently
it has the right to dispose of its property with the consent of the owner +
PS 18. Is the authorized capital of a general partnership a share capital?
yes, is +
no is not
it can be called share capital
PS 19. Which of the following factors affects the composition and structure of the organization's fixed assets?
A. organizational and legal form of management;
B. sectoral features of management; +
B. features of the formation of the authorized capital;
D. the presence of additional capital.
PS 20. Investments in the development of production are:
A. expenses associated with expanded reproduction; +
B. compulsory expenses;
B. costs associated with simple reproduction;
D. funds allocated for consumption.
C 21. What is the economic essence of depreciation?
A. the monetary form of the part of the value of fixed assets transferred to the products;
B. is the process of gradually transferring the value of the means of labor as they wear out to manufactured products, turning it into a monetary form and
accumulation of resources for the subsequent reproduction of fixed assets; +
V. part of the value of surplus labor.
From 22. depreciation deductions are:
source of working capital formation
source of formation of the authorized capital
source of formation of authorized and additional capital
source of financing for long-term investments +
С 23. Is it possible to use the profit to cover the increase in working capital?
A. it is possible for commercial organizations of any organizational and legal form of management; +
B. is possible if it is a unitary enterprise;
G. is possible only in joint-stock companies.
C 24. Is the proceeds from the sale of products commercial income?
Organizations?
yes, this is the net income of a commercial organization
yes, this is the gross income of a commercial organization
no, it is not +
C 25. what is profit as an economic category
source of financing for expanded reproduction
net income created by surplus labor +
source of financing for simple reproduction
the ultimate goal of entrepreneurial activity
PS 26. Profitability is:
A. an absolute indicator that characterizes the activities of the organization;
B. cost indicator characterizing the effect of entrepreneurial activity;
B. a relative indicator characterizing the degree of profitability of entrepreneurial activity. +
C 27. What is the main source of reimbursement of funds spent on production?
enterprise profit
revenue from product sales +
short-term commercial bank loans
depreciation deductions
PS 28. Is the price of sales a factor influencing the amount of production and sales of products?
Yes it is
no, it is not +
is at the time of change in the price of finished products
Topic 10. Household finance
C 1. What is household finance?
A. The totality of cash expenditures and incomes of households.
B. Household cash.
B. Household property
D. Economic relations on the formation and use of funds of household funds +
PS 2. What is the material source of household financial resources?
country's income
material wealth of countries
national wealth GDP
household income +
PS 3. What monetary funds are created within the framework of household financial resources?
A. Consumption fund and savings fund. +
B. Pension Fund of the Russian Federation
B. Production Development Fund
D. Fund for financial support of subjects of the Russian Federation
C 4. What are the sources of household cash income?
A. Only wages.
B. Only business income.
B. Only state social payments.
D. Compensation, business income and state social payments and rent +
C 5. What about transfers to the population?
A. Pensions from off-budget social funds. +
B. Earnings on shares.
B. Wages.
D. Interest on deposits in commercial banks.
PS 7. What are the qualifications that underlie the division of household cash expenditures
only for purposes of use and degree of regularity
only as needed
only for purposes of use and necessity
according to the goals of regularity, degree of need and purpose of use +
C 8. What voluntary payments do households make?
2. insurance premiums to non-state pension funds +
insurance premiums to state off-budget funds
PS 9. What types of savings and savings can be in households?
A. Acquisition of expensive household appliances.
B. Household deposits in commercial banks. +
B. Rest abroad.
D. Education in educational institutions.
P 10. What tax do households pay?
A. Corporate income tax.
B. Corporate property tax.
B. Personal Income Tax. +
D. Tax on the income of credit institutions.
C 11. What is the heaviest tax for households?
personal property tax
insurance payments to off-budget social funds
personal income tax +
National tax
Topic 11. Insurance
Which of the following features characterize insurance relations?
incentive appointment
closed redistribution of damage in space and time
free payments
irrevocable payments +
control of insurance activities
PS 2. What are the organizational forms of the insurance fund in Russia (select one or more options)?
social development fund
enterprise reserve fund +
science and technology development fund
organization's consumption fund
reserve fund of the President of the Russian Federation
P 3. What is the function of insurance?
stimulating
2) warning +
fiscal
funded
P 4. What function of insurance provides compensation for damage?
stimulating
control
fiscal
4) risky +
С 5. The peculiarity of voluntary insurance is that it:
carried out on the basis of the interests of the state
operates on the basis of the law
4) is carried out on the basis of the law and the agreement between the insurer and the insured +
C 6. Which branch of insurance has as an object the damage arising from various commercial transactions?
property insurance
personal insurance
3) insurance of economic risks +
civil liability insurance
PS 7. Which insurers operate on a non-commercial basis?
state and municipal organizations
insurance pools +
open society
joint-stock companies
PS 8. determine the principle of organizing the insurance business
competition +
monopolization
gratuitousness
self-sufficiency
PS 9. What characterizes the insurance relationship?
incentive prescription
redistribution, stimulation, free
free payments
4) closed redistribution of damage in space and time, irreversibility +
PS 10. In what form can an insurance policy be formed and used?
fund?
enterprise accumulation fund
financial incentive fund
3) reserve fund of the insurer +
Pension Fund
PS 11. What is the function of insurance to reduce the degree and consequences of insurance risk?
risky
control
3) warning +
distribution
reproductive
P 12. What is the peculiarity of compulsory insurance?
carried out on the basis of the interests of the state of adverse natural events
2) applied automatically by law +
used in the interests of the insurer and the insured
operates on the basis of the law
C 13. Which branch of insurance has damage caused to third parties as an object?
property insurance
personal insurance
3) liability insurance +
risk insurance
economic risk insurance
C 14. Specify the subjects of the insurance market:
insurer, taxpayer, insurance agent
insurer, lender, borrower
3) insured, insurance broker, policyholder +
insurer, budget recipient, taxpayer
PS 15. Which of the principles and to the greatest extent characterizes the organization of the insurance business in Russia?
centralized state administration
2) freedom of choice of services by the insured +
state property
monopolization
Topic 12. Financial management
PS 1. Select two functions of the legislature of the state.
A. Approval of the state budget. +
B. Drawing up a draft state budget.
B. Enforcement of financial laws.
D. Approval of the report on the execution of the state budget
PS 2. Select the function of the Ministry of Finance in foreign countries.
A. Adopt laws on taxes and fees.
B. Develop financial policy. +
B. Sets a limit on the public debt.
PS 3. The function of managing the internal debt of the Ministry of Finance of the Russian Federation is expressed in:
A. Issue of municipal loans.
B. Issues of government loans. +
B. Adoption of laws regulating the volume of public debt.
P4. Select the state financial control body of the Russian Federation:
A. Main Control Directorate under the President of the Russian Federation.
B. Audit services.
B. Accounts Chamber of the Russian Federation +
D. Financial services of economic entities.
P 5. Select a body of non-state financial control:
A. Ministry of Finance of the Russian Federation.
B. Central Bank of Russia.
B. Financial departments of commercial banks. +
C 6. Select functions Federal Assembly RF in the field of financial management:
A. Considers and approves laws regulating the composition and structure of the financial system and the functions of its individual links. +
B. Draft a law on the federal budget
B. Executes the budget of the Russian Federation
D. Adopts laws on the execution of the budgets of the constituent entities of the Russian Federation
C 7. Select the functions of the Accounts Chamber of the Russian Federation:
A. Development and approval of the Tax Code.
B. Control over the legality and timeliness of the movement of funds from the federal budget and federal off-budget funds. +
B. Execution of the budget of the Russian Federation.
C 8. The functions of the Ministry of Finance of the Russian Federation include:
A. Development and implementation of a unified financial policy of the Russian Federation.
B. Development of a unified methodology for drawing up budgets at all levels and reports on their execution +
C. Financial expertise of draft federal laws, as well as regulations of federal government bodies.
P 9. Select the function of the Federal Tax Service:
Adoption of the Tax Code of the Russian Federation
Control over the correct calculation, completeness and timeliness of payment of all taxes and fees +
Carries out audit control of enterprises and organizations
P 10. Select two functions of state tax inspections:
Taxpayer accounting +
Control over the correctness of the calculation and the timeliness and completeness of contributions to the budgets
prevention, detection and suppression of corruption in the tax authorities
P 11. Who can exercise financial control? (choose 2 correct answers)
Legislative +
Individuals
Executive +
P 12. What does departmental financial control mean?
A. Control over ministries and departments by the Ministry of Finance of the Russian Federation.
B. Control exercised by the control bodies of the departments themselves.
B. Control exercised by the Federal Tax Service. +
C 13. Whether the functions of the Federal Treasury include control over the execution of regional and local budgets.
PS 14. Does the function of the Accounts Chamber of the Russian Federation include the analysis of the state of the state debt of the Russian Federation?
PS 15. What is the function of commercial banks in the field of financial control?
control over cash discipline of legal entities +
bank risk analysis
control over the use of funds by legal entities
timeliness and completeness of tax transfers
control over the investment activities of enterprises
C 16. Indicate the method used in the conduct of financial control
A. Interview.
B. Revision. +
B. Experiment.
D. Balance method.
P 17. To whom is the Accounts Chamber of the Russian Federation accountable?
Central Bank
Ministry of Finance
Federal Tax Service
Federal Assembly of the Russian Federation +
P 18. What is the main body that exercises financial control over the use of funds from the Federal budget of the Russian Federation:
A. Local and regional authorities.
B. Federal Treasury. +
B. Individuals.
D. Commercial enterprises.
P 19. The tasks of the Accounts Chamber of the Russian Federation include:
control over the execution of the federal budget and extra-budgetary funds +
making forecasts of territorial budgets
Execution of the Federal Budget of the Russian Federation
P 20. In which body does the Federal Treasury operate?
Central Bank of the Russian Federation
Federal Assembly
Presidential Administration
Ministry of Finance of the Russian Federation +
C 21. The tasks of the Federal Treasury of the Russian Federation in the field of financial control include:
Control over cash execution of the federal budget and off-budget federal funds +
control over the emission of monetary laws by the Central Bank of the Russian Federation.
Control over the timely and full payment of taxes and fees to legal entities
PS 22. Does the Accounts Chamber of the Russian Federation have the right to check the financial activities of private commercial structures that do not use federal budget funds?
C 23. Can an audit firm recognize commercial enterprise bankrupt?
C 24. Which authorities exercise tax control in the Russian Federation?
audit firms
Central Bank of the Russian Federation
Federal Tax Service +
Federal Treasury of the Russian Federation
Topic 13. Budget process
C 1. What is the budget process?
the process of drafting, reviewing, approving and executing
budgets +
organizational principles for building a budget system
centralized distribution and redistribution of GDP and ND between the links of the financial system
C 2. What is budget planning?
the totality of all budgets in force in the country
centralized distribution and redistribution of GDP and ND between the links of the financial system in the process of budgeting and executing budgets +
the process of drafting, reviewing, approving and executing budgets
organizational principles for building a budget system
P 3. How many stages does the budget process in the Russian Federation include?
4 stages +
P 4. How does the 4th stage of the budget process end?
consideration of the budget by the legislature
approval of the budget execution report +
approval of the budget by the legislature
adjustment of key budget indicators in accordance with the financial and economic situation
PS 5. Which of the following statements is correct?
the budget process is included in budget planning
budget planning is included in the budget process +
the budget system is included in the budget process
the budget device is included in the budget process
P 6. Does the duration of the budget process vary across countries?
yes, it differs
no, it does not differ
PS 7. Principles of the budget process:
unity, completeness, publicity, reality +
payment and urgency
liability for the formation of financial reserves
stimulation, control, completeness, independence
P 8. Which body performs the functions of drafting the federal budget?
Central Bank of the Russian Federation
Federal Treasury of the Russian Federation
Ministry of Finance of the Russian Federation +
State Duma Committee on Budget, Banking and Finance
PS 9. The accounts of the Federal Treasury of the Russian Federation and its local subdivisions are intended for:
budget execution
execution of off-budget funds
Execution of budgets and off-budget funds +
settlements between business entities
C 10. Participants in the budget process in the Russian Federation are:
individuals: residents and non-residents of the Russian Federation
legal entities: residents and non-residents of the Russian Federation
financial and credit institutions
legislative and executive authorities +
P 11. Legislatures Russian authorities:
review and approve budgets, as well as reports on their implementation
draw up a draft budget
execute the budget
carry out organizational and methodological work on the preparation and execution of the budget
P 12. Which of the following functions is assigned to the executive authorities of the Russian Federation?
review of budgets
approval of budget execution reports
drafting and budgeting +
approval of budgets
C 13. The functions of the Ministry of Finance of the Russian Federation include:
consideration and approval of the budget
approval of the budget execution report
control over compliance with tax legislation, correct calculation, completeness and timeliness of tax payments
implementation of organizational, methodological and practical work on the preparation and execution of the budget +
C 14. The consolidated financial balance sheet of the Russian Federation, containing data on the forecast possibilities for accumulating income, attracting borrowings and financing budget expenditures, is compiled as follows:
for 1 month
for 6 months
С 15. The balance of financial resources includes:
income and expenses of the Russian Federation +
income and expenses of subjects of the Russian Federation
household income and expenditure
revenues and expenses of municipalities
P 16. Is the draft federal budget subject to consideration in the Federation Council?
yes, subject to
no, not eligible
C 17. Is it necessary to hold subsequent readings of the federal budget in the State Duma if it has passed 1 reading:
yes, it is necessary
C 18. What issues are resolved when the State Duma considers the draft federal budget inIreading?
main characteristics of the federal budget +
distribution of expenses by subsections of the functional classification
adoption of the law on the federal budget as a whole
distribution of expenses by ministries and departments
P 19. The State Duma considers and approves:
federal budget +
regional budgets
local budgets
consolidated budget
P 20 The federal budget is adopted:
Decree of the President of the Russian Federation
Law of the Russian Federation "On the federal budget" +
other document
Topic 14. Financial policy
PS 1. What is the main element of the state's financial policy?
State budget
State financial authorities
Definition of goals and objectives of the use of financial relations +
Establishment of a tax system
PS 2. Included in the content of the financial policy of the state
development of a financial mechanism?
In certain cases
PS 3. Included in the content of the financial policy of the state
financial management organization?
In certain cases
C 4. What are the main goals of the state's financial policy?
distribution of financial resources and control +
economic regulation +
formation of finances of organizations
study of theoretical issues of the use of financial relations
C 5. Can fiscal targets form the basis of financial policy?
states?
In certain cases
C 6. What is the financial regulation of the economy?
indirect impact on various economic processes
implementation of tax reform +
study of budgetary relations
formation of new types of enterprises
C 7. What is the fiscal direction of financial policy
states?
ensuring the growth of non-tax revenues
reduction in tax revenue
ensuring a balance between state revenues and expenditures +
public credit organization
PS 8. Is it possible to regulate different economic processes with the help of the same financial instruments
in certain cases +
C 9. What is a financial mechanism?
set of taxes and non-tax payments of the state
a set of forms and methods of organizations of financial relations +
various types of enterprise funds
money income and expenses of the population
S 10. Directive Financial Mechanism:
is established by state bodies and is obligatory for execution by all economic entities on the territory of the country +
determined only by Decrees of the President of the Russian Federation
established by the Ministry of Finance of the Russian Federation
controlled by the federal customs service
C 11. Can certain elements of the financial mechanism be determined by legal entities
in certain cases
C 12. What is the main focus of classical financial policy?
economic regulation
fiscal goals +
Anti-inflation policy
cyclic regulation
C 13. What is the main focus of the regulatory financial policy?
economic regulation +
fiscal goals
anti-inflationary policy
cyclic regulation
PS 14. Which countries have had a prescriptive fiscal policy?
In countries with market economies
In countries with a socially oriented economy
In countries with planned economies +
In Western Europe and the USA
PS 15. What is the main type of financial policy currently used in most countries of the world
fiscal
regulating +
directive
social
Topic 16. Theories of public finance
A. increasing the role of direct taxes;
B. Increasing the investment activity of the state;
B. Revolutionary change in the principles of building financial systems;
D. Free competition; non-intervention of the state in the economy +
PS 2. What principle of building tax systems does not belong to A. Smith?
A. Fairness
B. Elasticity +
B. Convenience
D. Certainties
C 3. The main work of K. Marx is called:
A. “Less is better, but better”;
B. "Capital"; +
B. "An Inquiry into the Nature and Causes of the Wealth of Nations"
PS 4. The principle of elasticity of taxation A. Wagner belongs to the group:
A. Principles of tax management;
B. Principles of Justice
B. Financial principles of the organization of taxation; +
D. National economic principles
C 5. "Deficit funding" - a term from the theory:
A. Marxism
B. A. Smith
V. Keynesianism +
PS 6. The financial concept of J. Keynes is based on the ideas:
A. "Effective demand" +
B. revolutionary changes;
B. "dynamic transformations";
G. government regulation
PS 7. What is the peculiarity of the reproductive concept of finance?
finance is a system of monetary relations
finance is a distributive relationship
finance is a relationship associated with several stages of reproduction +
C 8. what is the peculiarity of the distributive concept of finance
finance is a system of economic relations
finance is distributive non-equivalent relations +
finance is a reproductive relationship
finance is a distribution and exchange relationship
Topic 17. International financial relations
P 1. Is the Russian Federation a member of the IMF?
acting as an "observer".
C 4. External public debt of the Russian Federation is subdivided:
the debt of the Russian Federation itself; +
debt of private commercial banks to foreign banks;
Debt of the former USSR
C 5. The London Club of Creditors includes:
foreign lending banks; +
governments of leading Western countries
C 6. Demonetization of gold means:
the government's refusal to mint gold coins;
an increase in the country's gold reserves;
refusal to recognize the function of the monetary metal behind gold. +
C 7. The balance of payments is:
the ratio of payments made by a given country abroad, and receipts received by it from abroad for a certain period of time; +
requirements and obligations of the country in relation to foreign countries.
P 8. The main source of foreign currency inflow to Russia (choose the correct answer):
import of goods;
foreign investment;
export of oil and gas; +
equipment export.
C 9. Currency is:
monetary unit of a foreign state; +
international unit of account;
national currency;
precious metals.
P 10. Which body sets the official exchange rate of the ruble?
Ministry of Finance of the Russian Federation;
Government of the Russian Federation;
C 11. External debt restructuring means:
refusal to repay a debt;
refusal to pay interest on a debt;
deferral of debt payments. +
PS 12. Who benefits from the devaluation of the national currency:
importers of goods;
exporters; +
the government of the country;
foreign states.
P 13. Is gold legal tender in developed countries?
PS 14 the role of the gold reserve of the state at present is to:
determine the exchange rate of the national currency +
gold coin minting tool
serve as a means of settlement for international trade transactions
PS 15. Is it true that restructuring external debt means postponing payments on public debt, including interest:
C 16. Do central banks of developed countries have the right to issue SDRs?
partially.
С 17. Is it true that exports of goods benefit from the devaluation of the national currency?
C 18. Can the IMF provide a loan for the construction of a large industrial facility in Russia?
PS 20. Does Russia have the right to cover the federal budget deficit with a loan from the IBRD?
PS 21. Main tasks of the Paris Club of creditors
demand the return of loans from developing countries +
provide a deferment of the return of creditors to debtor countries +
C 22. Are Russian exporters obliged to sell foreign exchange earnings to the Central Bank?
fully obliged
obliged in part +
P 26. Exchange rate means:
purchasing power of the monetary unit;
the price of the currency of one country, expressed in the currency of other countries or in international currency. +
Topic 18. Features of the financial systems of developed countries
С 1. What share of national income is redistributed through the state budgets of developed countries?
A. the entire national income
B. more than 40% +
P 2. Developed countries depending on state structure have:
A. two or three link budget system +
B. five-tier budget system
B. ten-link budget system
P 3. The main revenues to the state budget are as follows:
A. tax revenue +
B. depreciation receipts
B. rent
PS 4. The German budget system is:
A. unitary
B. federal +
V. Confederate
PS 5. In the symmetrical model of the budget system, the federations of developed countries use:
A. equal rights +
B. each federation has a special status
PS 6. The budget process in developed countries has:
A. two stages - review and approval of the budget
B. three stages - budgeting, review, approval
B. four stages - budgeting, review, approval and execution +
PS 7. The UK applies:
A. schedule-global system of income taxation +
B. global system
PS 8. The main taxes received by the budget of developed countries are:
A. income taxes +
B. excises
B. inheritance and gift tax
P 9. Military spending by developed countries is funded by:
A. from the state budget +
B. from social security funds
P 10. Extra-budgetary funds of developed countries are:
A. national and territorial special trust funds +
B. depreciation funds of enterprises
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The concept of "organizational finance". Financial relations of organizations and their structure.
Organizational finance- this is a system of monetary relations associated with the creation and use of various types of income and savings of an economic entity.
Finances of organizations (enterprises) is a relatively independent sphere of the state finance system, covering a wide range of monetary relations associated with the formation and use of capital, income, cash funds in the process of circulation of their funds. It is in this area of finance that the main part of income is formed, which are subsequently redistributed through various channels in the national economic complex and serve as the main source of economic growth and social development of society.
All incomes of subjects of economic relations in the process of reproduction are divided into primary and secondary, received after the redistribution of primary incomes. They are formed:
· enterprises - in the form of profit remaining at their disposal, and depreciation (net cash flow);
For employees (households) - in the form of net wages remaining after paying taxes and mandatory payments, payments from net profit to shareholders and participants, wages to public sector employees, payments from extra-budgetary social funds;
· the state - in the form of redistributed income of enterprises in the budget and off-budget funds.
The role of finance in the economic activity of enterprises is manifested in the fact that with their help the following are carried out:
servicing the individual circulation of funds, i.e., changing the forms of value. In the process of such a circulation, the monetary form of value is transformed into a commodity form, and after the completion of the production process and the sale of the finished product, the commodity form of value again appears in its original monetary form (in the form of proceeds from the sale of the finished product);
distribution of proceeds from the sale of goods (after payment of indirect taxes) to the material cost compensation fund, including depreciation, wage fund (including contributions to off-budget funds) and net income acting in the form of profit;
redistribution of net income for payments to the budget (profit tax) and profit left at the disposal of the enterprise for production and social development;
Use of the profit left at the disposal of the enterprise (net profit) for consumption, accumulation, reserve and other purposes provided for in its financial plan (budget);
· monitoring compliance with the correspondence between the movement of material and monetary resources in the process of individual circulation of funds, i.e., the state of liquidity, solvency and financial independence of the enterprise from external sources of financing.
The existence of finance is inextricably linked with the presence of commodity-money relations and the regulatory role of the state. A significant part of the financial relations of enterprises is regulated by civil law: the amount and procedure for the formation of authorized and reserve capital for enterprises of various organizational and legal forms; procedure for placement and redemption of shares; privatization; liquidation; bankruptcy; the order of priority for debiting funds from the current account; the composition of the costs attributable to the cost of production; accounting policy options; objects and rates of taxation and a number of other relations.
The material basis of the finances of enterprises is the circulation of capital, which, under the conditions of commodity-money relations, takes the form of money circulation.
Financial statistics of enterprises (organizations) contains indicators reflecting the financial position of enterprises (organizations). Income (loss) from core activities is a balanced financial result and is defined as the difference between gross income from core activities and the cost of goods (works, services) sold, plus expenses of the period.
Income from core activities is a balanced financial result and is defined as the difference between income from core activities and the cost of goods (works, services) sold, plus expenses of the period.
Income (loss) from the sale of products (works, services) is reflected net of value added tax, excises, as well as the cost of returned goods, sales discounts and price discounts presented to the buyer.
The essence and significance of the organization's finances
Finance is a system of economic monetary relations, mainly associated with the redistribution of GDP and the formation of centralized and decentralized monetary funds.
Finance is a system of monetary relations associated mainly with the redistribution of profits and the formation of centralized and decentralized monetary funds. Finance is based on accounting, economic and production analysis, on the current tax system, etc.
All financial relations operate only at the level of enterprises, as legal entities. All financial relations operating within the enterprise are conditional financial relations.
Decentralized funds - all funds created at the enterprise level (accumulation fund, consumption fund, reserve fund, sinking fund).
The difference between a fund and funds: funds = the amount of funds, and the fund = the amount of funds that has a special purpose. At the enterprise, finance is used from the following economic relations:
1) relations between the enterprise and other enterprises in the course of financial and economic activities. Financial relations do not include purchase and sale relations, exchange, etc., but only the application of financial sanctions for non-fulfillment or poor-quality fulfillment;
2) between enterprises and divisions that are part of it. These relations depend on the structure of the enterprise and financial relations that arise only between units that have independent balance sheets and accounts. These relations can be supplemented by the formation of statutory funds, the redistribution of working capital, the redistribution of profits, the payment of taxes between enterprises;
3) between enterprises and employees regarding the payment of funds, mainly from profits, and a part that falls under state regulation;
4) between the enterprise and the state budget regarding the payment of taxes and regarding the receipt of benefits, targeted financing, state loans in various forms, etc.;
5) between the enterprise and commercial banks regarding the receipt and repayment of loans;
6) between enterprises and investment institutions regarding the formation of free financial resources and their use (investment funds, pension funds, etc.);
7) between the enterprise and higher authorities (holdings, concerns) regarding the transfer of capital.
Finance in the enterprise performs the following functions:
1) formation - the function provides financial resources, the circulation of funds in the enterprise, i.e. function of formation of monetary funds. The task is to form the cash flows at the enterprise in such a way that all financial flows work and work efficiently. The main indicators are planned;
2) use - a function of the use of funds and funds;
3) control function - at the enterprises themselves, between enterprises, if there is a violation of the law - at the level of the budget, or the state.
The financial market is associated with the circulation of financial capital. The financial flow determines the link of economic relations where the market of financial capital and financial resources takes place. 3 links included:
1) capital market;
2) market of credit resources;
3) money market;
An economic instrument, including finance, has 2 beginnings: per-
the first is objective (following from the economic category), the second is subjective (an instrument for implementing the state's economic policy). Financial impact:
1) quantitative (characterized by the proportions of the distribution process);
2) qualitative (characterized by the impact of finance on the material interests of business entities).
The qualitative side of influence is characterized by proportions in the distribution process; reflects the impact of finance on the material interests of business entities through various forms of organization of financial relations; affects the social product and is associated with the transformation of finance into an incentive for economic development. Such a transformation is possible when the procedure for generating income, the conditions and principles for the formation of funds, the directions of their use can be closely linked with the economic interests of business entities.
An economic incentive is a tool that is associated with the material interests of business entities. The conscious use of finance in social production leads to results in which the active role of finance in social production is manifested in market conditions.
Functions and principles of organizing finance
Market economy in Russian Federation is gaining more and more power. Along with it, competition is gaining strength as the main mechanism for regulating the economic process. The competitiveness of any economic entity can only be ensured by the correct management of the movement of financial resources and capital at its disposal.
In today's conditions, most enterprises are characterized by a reactive form of financial management, i.e. making managerial decisions as a reaction to current problems.
When developing an effective financial management system, the main problem constantly arises of combining the interests of the development of an enterprise, the availability of a sufficient level of funds to carry out this development and maintain a high solvency of the enterprise. The financial well-being of the enterprise as a whole, its owners and employees depends on how efficiently and expediently financial resources are transformed into fixed and working capital, as well as into means of stimulating the workforce. Under these conditions, financial resources are of paramount importance, since this is the only type of enterprise resource that can be directly and with a minimum time interval transformed into any other type of resource. Thus, financial management, as one of the main functions of the management apparatus, acquires a key role in a market economy.
Signs of successful financial management can be called a whole system of goals: the survival of the company in a competitive environment; avoiding bankruptcy and major financial failures; growth in production and sales volumes; profit maximization; cost minimization; ensuring cost-effective activities, etc.
Management of working capital, receivables and payables, accruals and other means of short-term financing - it is in this direction that the main problem of financial management is most clearly manifested.
Skillful economic strategy, rational financial policy allow the company to maintain business activity, profitability and high reputation as a reliable partner for many years. In a market economy, the leading role belongs to financial analysis, thanks to which you can effectively manage financial resources. Financial analysis is a multipurpose tool. With its help, sound financial decisions are made, the resources available to the enterprise are assessed, trends in their use are identified, and forecasts are made for the development of the enterprise for the near and long term.
An enterprise with serious analytical work is able to recognize an impending crisis earlier, respond quickly to it, and is more likely to avoid "troubles" or reduce risk.
In an effort to resolve specific issues and get a qualified assessment of the financial situation, business leaders are increasingly beginning to resort to the help of financial analysis. At the same time, they expect to receive a specific conclusion on the sufficiency of means of payment, the normal ratio of equity and borrowed capital, the rate of capital turnover and the reasons for its change, and the types of financing for certain types of activities.
The main components of the financial analysis of the company's activities are: analysis of financial statements, calculation of financial ratios. The quality of financial analysis depends on the methodology used, the reliability of financial statements.
Monetary relations turn into financial ones when the movement of money acquires a certain independence: as a result of the production of goods and their sale, monetary incomes (financial resources) of enterprises are formed, which are subsequently used.
The finances of an enterprise are monetary relations associated with the formation and distribution of financial resources. Financial resources are formed from such sources as: own and equivalent funds (share capital, share contributions, profit from core activities, earmarked income, etc.); mobilized in the financial market as a result of operations with securities; coming in the order of redistribution.
The finances of the enterprise provide the circulation of fixed and working capital and relationships with the state budget, tax authorities, banks, insurance companies and other institutions of the financial and credit system.
The process of functioning of any enterprise is cyclical. Within one cycle, the following is carried out: attracting the necessary resources, combining them in the production process, selling the manufactured products and obtaining the final financial results. In a market economy, there is a shift in priorities in the objects and targets of the management system of the economic object.
In a market economy, effective management involves optimizing the resource potential of an enterprise. In this situation, the importance of effective management of financial resources sharply increases. The financial well-being of the enterprise as a whole, its owners and employees depends on how effectively and expediently they are transformed into fixed and working capital, as well as into means of stimulating the workforce. Under these conditions, financial resources are of paramount importance, since this is the only type of enterprise resource that can be directly and with a minimum time period transformed into any other type of resource. To some extent, the role of financial resources is important at all levels of management (strategic, tactical, operational), but it is of particular importance in terms of an enterprise development strategy. Thus, financial management, as one of the main functions of the management apparatus, acquires a key role in a market economy. Enterprise finance performs three main functions:
* formation, maintenance of the optimal structure and increase in the production potential of the enterprise;
* ensuring current financial and economic activities;
* ensuring the participation of the enterprise in the implementation of social policy.
Every business starts with asking and answering these three key questions:
1. What should be the value and optimal composition of the assets of the enterprise, allowing to achieve the goals and objectives set for the enterprise?
2. Where to find funding sources and what should be their optimal composition?
3. How to organize the current and prospective management of financial activities, ensuring the solvency and financial stability of the enterprise?
These issues are resolved within the framework of financial management, which is one of the key subsystems of the overall enterprise management system.
The organizational structure of the enterprise financial management system can be built different ways depending on the size of the enterprise and the type of its activity. The main thing that should be noted in the work of a financial manager is that it either forms part of the work of the top management of the company, or is associated with providing him with analytical information necessary and useful for making managerial decisions of a financial nature. Regardless organizational structure The enterprise financial manager is responsible for analyzing financial problems, making decisions in some cases or making recommendations to senior management.
Methods of financial management are diverse. The main ones are: forecasting, planning, taxation, insurance, self-financing, lending, settlement system, financial assistance system, financial sanctions system, depreciation system, incentive system, pricing principles, trust operations, pledge operations, factoring, rent, leasing.
