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Characteristics of finance is a statement of the analysis of the functioning of financial resources.

The essence of financial resources and characteristics of financial activities

Financial resources are an indicator of social relations between all subjects of a market economy. All participants in market relations have common features, including the following:

• thanks to the existence of financial relations in society, the distribution of the country's gross domestic product and income occurs;
• all funds and financial resources of the country are formed due to the existence of financial relations;
• the process of distribution of the country's financial resources is regulated by the rules of financial relations.

But, despite the large number of similarities, there are still certain differences. These differences are quite specific, thanks to which it is possible to trace the nature of financial relations in different industries and group them into certain categories. As a result of this grouping, three main branches can be distinguished:

• financial resources owned by enterprises and firms;
• resources generated as a result of insurance premiums;
• financial resources at the disposal of the state.

Each of the listed branches has a branched system. The analysis of the functioning of each of them is carried out based on the nature of the current field of activity. Thanks to this, different subsystems are distinguished in the sphere of financial relations, for example: financial resources of companies whose activities pursue commercial interests; companies that operate on a non-profit basis; resources of public associations.

If we analyze the nature of financial relations in the insurance sector, then it is necessary to proceed from the concept of social insurance, the branched system of which represents the links of financial relations. Such links are such types of insurance as personal insurance, property insurance, business insurance and other types.

If we consider financial relations in the public sphere, then it is necessary to do this through an analysis of the concepts of the state budget and extra-budgetary funds, government loans, etc.

Links and characteristics of the financial system

The global financial system consists of many interconnected areas and subsystems of financial relations. Various components of the financial system regulate the functioning of many financial subsystems, which can be:

• on-farm;
• intra-industry;
• intersectoral;
• interterritorial.

Intra-economic relations regulate financial relations within enterprises and organizations, intra-industry ones - in the sphere of functioning of the individual economic sector under consideration, inter-industry ones - respectively, between different branches of production. The interterritorial subsystem of financial relations regulates economic relations between large political entities (countries).

Considering institutions that were created for the sake of making a profit, it is worth noting that among their financial funds there may be various finances, such as industrial, trade, transport, etc. The institutions themselves can be private with one legal owner, as well as joint stock companies, cooperative associations.

System of financial relations of the Russian Federation

This system has various components, including resources from the state budget and extra-budgetary funds, state lending resources, an insurance fund, as well as financial resources of various institutions that operate on the basis of different forms of ownership.

The system of state financial relations has the goal of generating, within the state jurisdiction, a satisfactory amount of financial resources, which in the future will be used to finance various state facilities and the structure of public administration. They are also scattered in such areas as insurance, education, medical care, etc. Such resource potential is formed from contributions from the taxation system within the country, as well as customs duties and leasing of state property.

1. The essence and functions of finance. The role of finance in a market economy

The modern world is a world of commodity-money relations. They permeate the internal life of any state and its activities in the international arena. Finance can be considered as an economic category and as a financial mechanism.

In the process of reproduction at different levels, from the enterprise to the national economy as a whole, funds of funds are formed and used. It does not matter in what form the money appears: in the form of cash paper tokens, or in the form of credit cards, or in amounts appearing in bank accounts without any form at all.

The system of education and use of funds of monetary resources involved in ensuring the reproduction process constitutes the finances of society. And the totality of economic relations that arise between the state, enterprises and organizations, industries, territories and individual citizens in connection with the movement of monetary funds forms financial. relationship. They are complex, diverse and resemble the circulatory system of a living organism, through which the movement of goods and services takes place, a kind of exchange of substances between the economic cells of the social organism. On the periphery of this organism, fin. the relationship ends. Here money already acts in its natural functions as a means of circulation or payment. But before reaching this final link, they are formed and serve the entire set of economic ties and economic relations.

The specific features of finance are their monetary and distributional nature. The object of financial relations are financial resources in the form of trust funds of funds. The functions of finance are: distribution, control and reproduction.

The role of finance in a market economy follows from the fact that the state and enterprises are full participants in the capital market, acting as lenders and borrowers. Proper organization of finances allows you to quickly respond to changes in the market situation, adapt to new conditions, use alternative financial instruments, and fulfill tax and other financial obligations.

In addition, finance plays an important role in attracting investment, not only in the real sector of the economy, but also in the human factor (education, healthcare, culture, sports), creating favorable conditions for the functioning of the capital market.

The role of finance in solving social and economic problems. tasks is to provide the necessary sources of finance, social and economic. spheres, achieving balance between economics. efficiency and social justice; production is expanding; carried out with the execution: 1. Commodity-den. relationships. 2. Financial. 3. Credit.

Governments play a big role here. finance and financial enterprises. Through the finance of individual enterprises and sectors of the national economy of states for the reproduction process and social. sphere. Part of finance is Investments.

2. Financial system of the Russian Federation and its links. State financial policy.

Fin. the system is interpreted in two ways: as a set of spheres and links of financial relations and as a set of financial institutions.

It includes three main links: state. finance, public finance and enterprise finance. Of these three links, the main one is enterprise finance, since the first two links are formed on their basis. Enterprise finance, as a link in decentralized finance, participates in the creation of the material source of all the country's monetary funds - national income. The overall financial position of the country, which plays a leading role in ensuring the pace of development of sectors of the national economy, depends on the state of decentralized funds of funds.

Household finance has only recently become a consideration. as a link in the financial system. Financial relations of the population in the formation of the family budget are extremely important for regulating the country's effective demand.

The centralized sphere of the financial system is the state. finance. It is owned by the state and, in accordance with the Budget Code, in force since January 1, 2000, includes the budget system and extra-budgetary social funds.

In 1991, the budget system of the Russian Federation underwent fundamental changes. Before this, the state budget of the Russian Federation, like other union republics, was included in the state budget of the USSR, which reflected all budgets in the country, including rural and township ones. In the Union budget in 1970-1990. concentrated 50-52% of the total resources of the state budget. The budgets of the union republics accounted for 48-50%, of which 35% were at the disposal of republican budgets, and 15% in local budgets.

Public finance consists of three main elements: budgets, extra-budgetary funds and government credit. A budget is an annual plan for the state’s income and expenses; it is the money that allows the state to carry out economic and social activities. functions (and recently political ones).

The budget consists of two parts: revenue and expenditure. In countries with developed market economies, 80-90% of budget revenue is generated from taxes on enterprises and the population. The rest comes from the use of state property and foreign economic activity. The structure of the budget expenditures includes expenses for social and cultural activities. needs (health care, education, social benefits, etc.), expenses for the development of the national economy, defense, public administration.

The ratio of revenue and expenditure parts of the budget can be balanced, but it can also be unequal. Most often, states are faced with a situation in which expenses exceed income. The practice of budget deficit is widely developed in the world. But there is always a certain limit, beyond which undesirable phenomena in the economy begin. According to IMF calculations, the budget deficit should not exceed 2% of GNP.

The current budget system of the Russian Federation consists of 3 links: the federal budget, regional budgets (there are 89 of them, including republican, regional, regional, autonomous regions, autonomous districts, Moscow and St. Petersburg) and local budgets (about 29 of them thousand, including district, town, city, rural).

Each budget operates autonomously, i.e. the lower budget with its income and expenses is not included in the higher budget. In order to plan budget resources, a consolidated budget is drawn up - a statistical consolidated budget that combines financial resources of all levels of the budget system.

Off-budget funds are funds from the federal government and local authorities associated with the financing of expenses not included in the budget. Extra-budgetary funds are those funds that are accumulated outside the state budget system and have a strictly designated purpose: pension fund, social insurance fund, etc.

The formation of extra-budgetary funds is carried out through mandatory targeted contributions, which for an ordinary taxpayer are no different from taxes. Basic the amounts of deductions to extra-budgetary funds are included in the cost price and are set as a percentage of the wage fund. Extra-budgetary funds are separated from budgets and have a certain independence.

State financial policy as part (subsystem) of economics. State policy is a set of fiscal and other financial instruments and institutions of state financial power, which, in accordance with legislation, have the authority to form and use the financial resources of the state in accordance with the strategic and tactical goals of the state economy. politicians. (The institutions of state financial power include: the Ministry of Finance, tax authorities, customs authorities, the Treasury, the Accounts Chamber, the Federal Commission for Currency Control, the Pension Fund, etc. Financial instruments include the budget, tax rates, benefits, funds, etc. .).

The objectives of financial policy include: 1. providing conditions for the formation of the maximum possible financial resources; 2. establishing a rational, from the state’s point of view, distribution and use of financial resources; 3. organization of regulation and stimulation of economics. and social processes by financial methods; 4. creation of an effective financial management system.

An important component of financial policy is. financial mechanism – a system of forms, types and methods of organizing financial relations established by the state. Fin. the mechanism is divided into directive (developed for financial relations in which the state is directly involved - taxes, government credit, budget expenditures, budget finance, etc.) and regulatory (determines the basic rules of the game in the financial segments, not directly affecting the interests of the state - organization of intra-economic financial relations in private enterprises).

There are 3 main types of financial policy: 1. classical (the principle of non-interference by the state in the economy, maintaining free competition, using the market mechanism as the main regulator of economic processes - A. Smith, D. Ricardo) 2. regulatory (the financial mechanism is used to regulate the economy and social relations in order to ensure full employment of the population - J. Keynes) 3. planned and directive (used in an administrative-command economy in order to ensure maximum concentration of financial resources from the state for their subsequent redistribution.

Transition to the 90s. XX century Russia from a command-administrative economy to market relations required a radical change in its financial policy, and above all, the financial mechanism. The essence of these changes was:

· transferring the relationship between the state and privatized enterprises to a tax basis;

· changes in interbudgetary relations (regional and local budgets have gained greater independence, primarily in the area of ​​spending funds;

· changing the principles of formation of territorial budgets, where financial assistance funds were created, from which transfers began to be sent to lower budgets;

· covering the budget deficit not at the expense of the Central Bank of Russia, but on the basis of issuing government securities;

· changing the procedure for redistributing funds between business entities in connection with the creation of the stock market;

· in the creation of the insurance market and private insurance funds;

· in the creation of state social extra-budgetary funds at the expense of social insurance funds;

· changing the financial management system, creating special financial and control departments (Ministry of the Russian Federation for Taxes and Duties, Federal Tax Police Service, Accounts Chamber).

Basic directions of Russia's financial and budgetary policy for the long term in accordance with the economics developed and approved by the government of the Russian Federation. the program consists of: 1. reducing the tax burden on the economy; 2. streamlining government obligations; 3. concentration of financial resources on solving priority problems; 4. reducing the dependence of budget revenues on world price conditions; 5. creation of an effective system of interbudgetary relations and public financial management.

An important direction of fiscal policy is. carrying out tax reform, which is designed to reduce the tax burden on the economy, equalize tax conditions for all payers, and increase the level of management of the entire tax system. Basic elements of tax reform: - abolition of ineffective taxes and benefits; - reduction of taxation of the wage fund and the total amount of contributions to social extra-budgetary funds; - reduction of tax rates.

During the reform, a single income tax rate is introduced (12%?), taxes paid on proceeds from sales of products are eliminated, and most benefits are abolished. Lost budget revenues in this regard should be covered by canceling unjustified tax benefits, increasing tax collection and increasing the share of cash payments in the tax system.

A review of the size and structure of the state's obligations will be carried out on the basis of a transition to targeted social support for citizens, which implies a reduction in a number of social obligations of the state, in particular, to cover losses in the housing and communal services sector, which will be covered by payments from consumers.

It is also envisaged to reduce public administration costs by reducing the number of civil servants.

The main priorities in budget expenditures are: fighting poverty, ensuring internal and external security of the state, supporting the judicial system, reproducing scientific potential, and the social sphere.

To improve the living standards of the most vulnerable segments of the population, it is planned to annually increase budget allocations for benefits. Expenditures on education and health care will increase. Financing of defense spending will be based on a new military doctrine, which involves a gradual transfer of the army to a professional basis. There will be a transition to full funding of the judicial system from the federal budget, which will ensure the true independence of judges.

In order to reduce the dependence of budget revenues on world price conditions, support will be provided to Russian enterprises entering world markets with high-quality products.

Improving interbudgetary relations involves the creation of a new mechanism for financial support of the territory based on a clear delineation of spending and tax powers between parts of the financial system. Funds for financial assistance to territories should be distributed taking into account the tax potential and budgetary needs of the territories.

An important direction of Russia's fiscal policy is. also the creation of an effective public financial management system. The transfer of all budgets to treasury execution will strengthen public control over the use of budget resources.

3. Financial control: types, forms, methods

Financial control - control of legislative and executive authorities at all levels, as well as specially created units over the financial activities of all economies. subjects using special methods.

Financial control - cost control takes place in all spheres of social production, yavl. multi-level and comprehensive, accompanies the entire process of movement of funds and the stage of understanding financial results.

1. Classification of types of financial control

By time of implementation: - preliminary (drawing up budgets, financial plans and estimates, credit and cash applications, contracts); - current; - subsequent.

By subjects of control: - presidential; - bodies of representative power and local self-government; - executive authorities; - financial and credit authorities; - departmental; - on-farm; - audit.

By areas of financial activity: budget, tax, currency, credit, insurance, investment, money supply control.

According to the form: - mandatory (external); - proactive (internal).

By methods of implementation: inspections, surveys, supervision, analysis of financial activities, observation (monitoring), audits.

2. Basic types and bodies of state financial control.

Under the Representative Bodies of Government (Federation Council and State Duma) there are: - State Duma Committee on Budget, Taxes, Banks and Finance and its subcommittees. Similar committees have been created by the constituent entities of the Russian Federation; - Accounts Chamber of the Russian Federation. The Board of the Accounts Chamber, in addition to the chairman and his deputies, includes 12 auditors (6 from each chamber of the Federal Assembly). Current work is carried out by inspectors of the Accounts Chamber. Similar bodies have been created in the constituent entities of the Russian Federation. The scope of powers of the Accounts Chamber is control over federal property, federal funds, state internal affairs. and external debt, the activities of the Central Bank, the efficiency of the use of foreign loans and borrowings, as well as the issuance of government loans and credits.

Basic forms of control - thematic checks and audits.

Enforcement measures: - prescription; - a mandatory order; - suspension of all account transactions.

Activities of the Accounts Chamber according to the law. vowel

Presidential control is exercised by issuing decrees, signing laws, appointing the Minister of Finance of the Russian Federation, and presenting to the State Duma a candidate for the post of chairman of the Central Bank.

Certain functions are performed by the Control Directorate of the President of the Russian Federation.

The Government of the Russian Federation controls the process of development and execution of the federal budget, the implementation of a unified policy in the field of finance, money and credit, and the activities of ministries and departments.

There is a Control and Supervisory Council under the government.

The Ministry of Finance and all its structural divisions exercise financial control on duty: through the development of the federal budget, control of the receipt and expenditure of budgetary funds and state extra-budgetary funds, control of the directions and use of public investments, methodological guidance of the organization of accounting, certification of auditing and licensing of auditing activities .

Operational financial control within the Ministry of Finance is carried out by the Control and Audit Department (KRU) and the bodies of the Federal Treasury.

The Federal Treasury includes the Main Directorate, the treasuries of the constituent entities of the Federation, cities (with the exception of district subordination), districts and districts in cities.

He is entrusted with the following responsibilities: - control over the income and expenditure side of the FB in the process of its execution; - control over the state of public finances as a whole; - control (together with the Central Bank of the Russian Federation) over the state of the state internal and external debt of the Russian Federation; - control over state extra-budgetary funds and the relationship between them and the budget.

In order to strengthen control over the effective use of public investments, the Russian Financial Corporation was created in 1993. It is engaged in competitive selection and examination of investment projects implemented at the expense of public resources.

Specialized financial control bodies include: - State. tax service (ensuring a unified system of control over compliance with tax legislation, correct calculation, completeness and timeliness of payment of taxes and other obligatory payments). State The tax service includes the Federal Tax Service and the state. tax inspectorates in the constituent entities of the Russian Federation and local governments (city and district tax inspectorates); - Federal tax police authorities, consisting of the Federal Tax Police Service, territorial and local authorities; - Federal Insurance Supervision Service (Rosstrakhnadzor), consisting of a central body, regional and cluster (for a group of regions) inspectorates of Rosstrakhnadzor; - Center. Bank of Russia (CBR) and its structural division, the Banking Supervision Department; - departmental financial control is carried out by structural divisions of ministries and departments.

Inspections are carried out once a year in commercial organizations and once every two years in other organizations.

Negos. financial control includes: - intra-business financial control, which is carried out by the accounting department and the financial department of the enterprise. Includes operational control (carried out by the chief accountant in the process of daily activities by approving documents) and strategic; - audit financial control. The audit can be proactive and mandatory, which is subject to, in particular, all banks, insurance organizations, stock exchanges, extra-budgetary funds, charitable foundations, all joint-stock companies and enterprises that have a share of a foreign investor in their authorized capital.