As usual, we are talking about target funds of economic entities and the state.
Foreign scientific thought does not consider finance so broadly. In foreign literature, finance is usually divided into:
So, considering finance in a broad sense, the following understanding has been formed in the Russian scientific community: Finance is a system of relations in society against the background of the formation and use of funds Money in accordance with the functions and role of the category of each element of the system.
Public (state):
Credit system:
Finance of branches of the reproductive process:
Secondary financial market:
International Finance:
The functions of finance are understood in various economic schools in their own way, depending on the interpretation and concepts inherent in them. In the Russian scientific literature, the Moscow and St. Petersburg concepts stand out. According to Moscow finance, they perform the following functions:
The Petersburg concept considers functions in a different way:
The financial system is a complex various areas financial relationships interacting with each other. The Russian financial system consists of two subsystems:
For clarity, we present the financial system of the Russian Federation graphically (Figure 1)
Finance is always subordinated to the goals and objectives of the subjects organizing them. From this point of view, the interpretation of S.Yu. Witte, who was the Minister of Finance before the 1917 revolution, is interesting. He called finance "the totality state property", and the science of finance - "the ways of best satisfying the material needs of the state."
The role of finance in the economy is diverse, but nevertheless, it can be reduced to three main areas:
1) financial support for the needs of expanded reproduction;
2) financial regulation of economic and social processes;
3) financial incentives for the efficient use of all types of economic resources.
1) Financial support for the needs of expanded reproduction means covering costs from financial resources. There are the following main sources of financial resources:
Own funds (authorized capital, profit, etc.);
Borrowed funds are long-term and short-term loans and loans;
Raised funds are funds that do not belong to the enterprise, but are used in its turnover (debts to the budget, employees of the enterprise, suppliers, etc.).
2) Financial regulation of economic and social processes- the second direction of the impact of finance on the development of the economy. The regulation of the economy is a change in the growth rates of individual structural divisions to restructure production in accordance with the changing needs of society. The regulation of the economy is carried out through the redistribution of financial resources: it is enough to allocate financial resources and the pace of development of an industry or region accelerates, and vice versa, the cessation of financing can stifle any production. There are three types of economic regulation.
self-regulation;
State regulation economy;
Regulation of the economy through the finances of the enterprise itself.
1) financial incentive effective use all economic resources , which is done through:
2) efficient investment of financial resources;
3) creation of incentive funds;
4) the use of budgetary incentives and financial sanctions.
3. The essence and structure of the financial system of the Russian Federation
Financial system - it is a set of blocks, links, sub-links of financial relations.
The financial system of the Russian Federation consists of three major blocks:
public finance;
local finance;
Finances of legal entities and individuals.
public finance reflect economic relations in the formation and use of centralized funds of funds intended to ensure the fulfillment by the state of its functions. Public finances include the state budget and state off-budget funds.
Local self-government, according to the Constitution of the Russian Federation, is separated from state system management. Local budgets - these are district, city, district budgets, budgets of settlements and rural settlements; district budgets - in cities.
Finances of legal entities and individuals - this is a set of economic relations for the formation and use of monetary funds of organizations, entrepreneurs, individuals, designed to ensure the process of expanded reproduction. The finances of legal entities are divided into two groups: finances of commercial and finances of non-commercial organizations. As part of the finances of individuals, it is possible to single out the finances of entrepreneurs who are not registered as legal entity, and finances of other individuals.
The financial system is not just the sum of blocks, links and sublinks, but a system that is a single whole, all the components of this system are closely interconnected by numerous types of economic ties and relations.
I Theme.
1. The essence and prerequisites for the emergence of finance. Specific features of finance.
2. The relationship of finance with other economic categories in the process of cost distribution.
3. The financial system of the country, the essence, links and their relationship with each other.
4. Functions of finance as a manifestation of their essence.
For the first time, the term "Finance" arose in the trading cities of Italy in the 13th-15th centuries. and originally Finance meant income and payment. Subsequently, the term gained international distribution and began to be used as a concept associated with the system monetary relations. Between the state and the population regarding the formation of state funds of funds.
Thus, this term reflected:
1. Monetary relations between 2 subjects (money is the material basis for the emergence of finance), without money there is no finance (natural economy).
2. In the process of monetary relations, the subjects had different rights. At the same time, the state had special powers - the collection of taxes.
3. In the process of monetary relations, the budget began to form as a national fund of monetary resources.
4. The regular flow of funds to the budget could not be ensured without giving taxes and fees a coercive character, which was achieved through the legal activities of the state.
Thus, the first sign of Finance is - the presence of monetary relations (monetary nature).
Why did finance originate in the 13th-15th centuries?
A number of preconditions:
1. The first bourgeois revolutions in central Europe, as a result of which the power of the monarchs was significantly limited. The monarch could not single-handedly use the treasury, the concept arises state budget.
2. The budget began to have a systemic character, certain groups of budget revenues and expenditures arose, i.e. the budget acquired a certain structure (4 major areas of spending state funds: the army, government, support for the economy, social policy).
3. Taxes began to be levied mainly in cash, while previously they were formed in the form of taxes in kind and labor duties.
Finances arise in the reproductive process.
Reproduction is a continuously repeating process of production of material goods in society.
Reproduction stages:
1. Production is a process of interaction between labor and material resources, the result of which is a product. As a result of production, total social product.
total social product- this is the value of goods and services produced in the sphere of material production, expressed in market prices (all-all goods produced).
2. Distributions - this is the process of allocating a share of the social product to each participant in social production (taxes for the state, wages for the population, and a share for enterprises as producers (depreciation, net profit)).
3. Exchange - this is the process of communication between the producer and the consumer (Goods - Money - Goods).
4. Consumption - expense of the received share.
The area of origin of finance is the 2nd stage of the reproduction process - distribution, because It is at this stage that monetary relations arise.
At the moment, the question of the boundaries of financial relations is debatable. There are 2 points of view on this issue:
1. Finances arise and act only at the stage of distribution.
2. Finances arise at the stage of distribution and continue their action at the stage of exchange.
The starting point for the emergence of finance is the process of primary distribution of the value of the social product.
Primary distribution- the process of splitting the realizable value and the allocation of primary income in its composition.
|
C - cost
V - wages
C+V+M M - profit
Depreciation. Raw materials, materials, fuel.
Scheme of income formation of the subject of economic relations in the process of distribution and redistribution of the value of the social product.
SOP is the total social product.
Stage 1 - Primary cost distribution. At this stage, the interests of the state are not taken into account. Therefore, there is a need for distribution through taxes.
| |
|||||
 |
As a result of such a redistribution, state funds (budget, off-budget funds) are formed.
Extrabudgetary funds:
Pension Fund Russia - PFR.
Fund Social Security- FSS.
Federal Fund Compulsory Medical Insurance- FFOMS.
Territorial Funds of Compulsory Medical Insurance - TFOMS.
These funds are intended for the implementation of the constitutional rights of citizens to pension and social security, to receive medical care.
Net profit - profit, which the company can dispose of at its own discretion.
Finance - these are monetary relations that arise in the process of distribution and redistribution of the value of a social product in order to form target monetary funds for subjects of economic relations.
Based on the foregoing, we can distinguish the second sign of finance - distributive nature of financial relations.
The process of value distribution of the social product is characterized by complexity; therefore, it is carried out with the help of different economic categories, each of which performs a specific role inherent only to it. In the process of value distribution, finance interacts with such economic categories as money, price, credit, and wages.
I Finance and money.
Money is the material basis for the emergence of finance. However, finance differs from money both in content and in the functions performed.
Money is the universal equivalent by which the value of a commodity is measured. Thanks f finances distribution of this value. The main purpose of finance is to provide enterprises and the state with the necessary financial resources.
II Finance and price.
Price is the monetary value of the commodity. Thanks to the price, the value of the social product receives a monetary expression, it is thanks to the price that it is possible to quantify the value of the financial resources of enterprises and the state, as well as the income of the population.
III Finance and credit.
Bank loan as an economic category- is one of the forms of movement of loan capital, while monetary relations arise, in the process of which temporarily free funds (of the state, enterprises, population) are accumulated banking system through contributions (deposits) maximum bet 12% per annum. In the future, these funds are provided in the form of loans to subjects in need on the terms of repayment, payment, urgency, security.
The nature of the functioning of finance and credit are significantly different, these differences are manifested in the following:
1. The loan operates on a repayable basis (there is a two-way movement of value). Finance always expresses a one-way movement of value.
2. Credit resources are provided by the borrower on a fee basis (percentage).
Financial resources are provided free of charge.
IV Finance and salary.
Salary as an economic category expresses monetary relations that arise in the process of distributing the value of a social product by forming individual income employee depending on the quantity and quality of labor expended.
Finance contributes (helps) wages to form a wage fund, separating it from the rest of the enterprise's cash funds.
Salary can act as a financial resource of the enterprise, this happens as a result of a mismatch between the terms for calculating salaries and issuing them to employees (salary is accrued at the end of the month, and is issued at the beginning of the next month, the term is established by the collective agreement). Until the moment of issuing the salary, the enterprise forms a salary debt, which acts as a financial resource of the organization ( stable liabilities ).
sustainable- will occur constantly.
Liabilities- sources from which assets are formed.
Balance sheet – A=P (assets – all property of the organization, Liabilities – sources of assets).
The concept of the financial system is an evolution of a more general definition of finance.
Financial system - a set of monetary relations related to the distribution and use of funds of funds within a particular country (TOTAL OF ALL FINANCIAL INSTITUTIONS OF THE COUNTRY).
Finance is transformed into a financial system based on the grouping of financial relations.
Grouping allows you to select three subsystems:
1.Finance of enterprises (corporate (economic entities))
2.Finance of the state (public finance)
3. Population finances (household finances).
The allocation of these subsystems is due to 2 features:
1. Differences in the functional purpose of subsystems.
For public finance– performance of their functions, protection of the economically inactive population.
For businesses- Manufacture of products for the purpose of making a profit.
For home. household- satisfaction of material and spiritual needs.
2. Each subsystem has its own financial base:
Enterprises- depreciation, net income.
State- budget and extrabudgetary funds.
Population- salary.
Owner's finances subjects- this is a system of monetary relations associated with the formation of funds of funds that ensure the process of reproduction within the enterprise.
The finances of enterprises form the basis of the entire financial system, since they are directly involved in the production process, form the total social product, part of which, through taxes, is redistributed to the public finance subsystem. In addition, the finances of enterprises are the source of house income. household
State. finance- this is a system of monetary relations associated with the formation of state funds necessary for the implementation of its functions.
Allocation of a subsystem finance the house. household due to the fact that in market economy labor power assumes a commodity character and therefore, as a participant in the overall production, receives its share in the production product in the form of wages.
House. household is an economic unit, consisting of one or more persons, which supplies the economy with resources and uses the money received for them to consume goods and services, to satisfy material needs.
Finance house. households - this is a monetary relationship that develops in the process of formation and use of family budgets.
In the financial system of the country house. households play a very important role:
1. House. households represent labor resources to enterprises.
2. Form demand; house. households are buyers of goods and services, on which the financial position of the enterprise ultimately depends.
3. House. households save part total income, acquiring financial assets(Deposits, securities) and real assets (real estate, gold).
Any system is an interconnection of its constituent elements. Under the systems of the country's financial system, there is a close relationship, which is due to - SOP - the presence of a common source of income generation.
 |
||
 |
||
 |
Within the individual subsystems, links are distinguished depending on the nature of the activity of the subject, which has an impact on the composition of target funds.
Financial relations in the field of enterprise finance can be grouped according to the following features:
1. According to the method of management:
· Finance of commercial organizations
· Finance of non-profit organizations.
This division is based on the purpose of the organization's activities.
For commercial activities - making a profit.
For non-profit organization- provision of services of various kinds (social) - culture, sports, education, health care.
2. By industry:
· Industry
· Trade
· Transport
· Construction
3. By organizational and legal form (civil code):
· Hoz. partnerships
· Hoz. societies
Production cooperatives
unitary enterprises
In the state subsystem finance, the following links can be distinguished:
1.Fed. budget
2. Budgets of subjects (regional) - 83 subjects
3.Local budgets
4. State budgets. off-budget funds
The essence of finance economic category manifests itself in its inherent functions.
The function shows how this eq works. Category.
There are two main functions of finance:
1. Distribution
2. Control
These functions are carried out by finance at the same time. Each fin. operation means the distribution of the value of the social product and at the same time control over this distribution.
Through the distributive function of finance, the general purpose of finance is realized, namely, providing the state and enterprises with the necessary financial resources, which, in the process of their use, take the form of monetary funds.
The distribution process, carried out with the help of finance, is characterized by complexity and versatility. This manifests itself as follows:
1. The distribution process takes place in 2 stages (The stage of primary distribution of value and redistribution)
2. With the help of finance, the distributive process takes place in all spheres of public life. Thanks to finance, the resources of material production are redistributed in material production.
3. Thanks to finances, there is a redistribution of resources between individual territories of the country.
Due to the heterogeneity of eq. and social Development of the regions "donors", "recipients" there is a need to allocate from the budget financial assistance"recipients" (subsidies, subsidies, subventions).
Thanks to the control function, it controls the distribution of the value of the social product among the relevant funds and their spending for the intended purpose.
The tool for implementing the control function is financial information contained in the accounting and statistical reporting.
Students, graduate students, young scientists who use the knowledge base in their studies and work will be very grateful to you.
Hosted at http://www.allbest.ru/
Introduction
Conclusion
List of used literature
Introduction
The purpose of this work is to consider finance, their essence and the need for their use in the social reproduction process.
The main tasks of the work:
1. Define the concept, essence of finance, their functions.
2. Reveal the need for finance and their use.
3. To study the role of public resources.
Finance is one of the most important economic categories, reflecting economic relations in the process of creating and using funds.
They emerged during the transition from subsistence farming to a regular commodity-money exchange and was closely connected with the development of the state and its needs for resources.
The need for finance in the conditions of commodity-money relations is explained by the fact that finance is necessary for the distribution of the value of the social product. This process is carried out only with the help of the category of finance.
Finance deals with the distribution of value created in monetary terms. Depending on how we distribute will depend on the process of reproduction. Certain proportions are needed, and the main proportion depends on how we divide the national income.
Finance, being an instrument of the second stage of social reproduction, can influence all stages of reproduction and the process as a whole. The objective prerequisites for influence are related to two circumstances:
1. Finance functions in all spheres of social production (production, circulation, consumption)
2. Finance has the potential to be a catalyst economic processes(which follows from the distribution function).
Since finance is a distributive category, society uses it for its own purposes. The conscious use of finance in the interests of society and its individual elements turns finance from an objective economic category into economic instrument management.
1. The concept of finance, their functions
Signs of finance:
1. money relation;
2. distribution ratio;
3. non-equivalent relation.
The concept of "finance" is considered in two aspects:
Economic aspect.
Finance - economic relations arising from the formation, distribution and use of monetary funds in order to fulfill the tasks and functions of the state, its territorial divisions, enterprises, organizations and institutions;
material aspect.
Finance - funds accumulated in state funds for special purposes. Finance - monetary funds of the state, its territorial divisions, enterprises and institutions, organizations.
Monetary funds - a separate part of financial resources, having a target direction and relative independence of functioning.
Types of finance:
1. centralized - used to meet the general needs of the relevant territory. Centralized finance includes cash that is accumulated:
a) in the state budget;
b) in state off-budget funds;
c) in state and bank lending;
d) in personal and property state insurance;
2. decentralized - monetary funds of enterprises, organizations, institutions used for production and social purposes in accordance with the purpose of these entities and in their scale.
Decentralized finance includes the funds of enterprises and organizations of all forms of ownership, institutions and public organizations, sectoral and intersectoral off-budget funds; local finance - a set of funds generated and used to resolve issues on the territory of municipalities.
Finance Functions:
distribution - contributes to the organization of a balanced and efficient production, the development of all its branches in accordance with the needs of society in order to most fully meet the needs of people. With the help of finance, the total social product and the national income are distributed;
control - lies in the fact that the state, using finance and financial categories, exercises control over financial and economic activities economic entities. With the help of finance, control is exercised over the production and distribution of material and social benefits in the country.
The totality of the links (institutions) that are part of finance, in their interconnection, forms the country's financial system.
Thus, finances are economic relations arising from the formation, distribution and use of monetary funds in order to fulfill the tasks and functions of the state, its territorial divisions, enterprises, organizations and institutions. The main functions of finance are: distribution and control.
2. The need for finance and the main directions of the use of finance in social reproduction
Reproduction includes continuous renewal and expansion production assets, GDP growth and its main part of the national income, the reproduction of the labor force and industrial relations. It is carried out using commodity-money, financial and credit relations. An important role in the reproduction of all components of the GDP belongs to public finance and enterprise finance.
Expanded reproduction is a set of processes of renewal, expansion and growth:
1) Production assets, as the embodied value of all means of labor used within a particular economic system;
2) Gross domestic product, as a resultant indicator of the development of production, reflecting the cost of all products and services produced by society during the billing period (including the main part of this indicator in the face of national income, as part of GDP cleared of previously incurred costs for its creation);
3) Labor force, the cost of reproduction of which includes all types of monetary income of the population, including payments from centralized (state) and private social funds.
4) The growth of the renewal of production relations, as a set of relations between all participants in the process of social reproduction represented by the state, legal entities and individuals.
The state influences the reproductive process through the financing of individual enterprises and sectors of the national economy, social events and tax policy.
In the context of deepening market reforms, the entire system of financial relations is being restructured in national economy. State finances, above all the budgetary system, through the appropriate allocation of funds, should ensure the structural restructuring of the economy, the acceleration of scientific and technological progress, the increase in production efficiency and, on this basis, the growth of the living standards of the people.
At the expense of centralized funds, the needs of expanded reproduction at the macro level are met, intersectoral and territorial redistribution of resources is carried out to equalize the level of economic and social development individual regions.
The role of finance is especially great in the expanded reproduction of enterprises of various forms of ownership, since with their direct participation GDP is created and distributed within enterprises and industries.
finance advocate important element reproduction of the labor force, the cost of which, in addition to wages, also includes the costs of education, health care, and social security. The expansion of the scope of social spending is largely due to the requirements of the scientific and technological revolution. The rapid qualitative restructuring of production requires a constant change in the professional structure of the workforce, which entails a further increase in the cost of education and retraining of personnel.
With the help of finance, the distributive process takes place in all spheres of public life - in material production, in the spheres of circulation and consumption. The financial method of distribution covers different levels of economic management: federal, territorial, local. Financial distribution is inherent in multi-stage, generating different types distribution - on-farm, intra-industry, inter-industry, inter-territorial.
Finance associated with the movement of the value of a social product, expressed in monetary terms, has the property of quantitatively (through financial resources and funds) reflecting the reproduction process as a whole and its various phases. The movement of financial resources, occurring both in stock and non-stock forms, forms the basis of the control function of finance. Since finance “permeates” all social production, all its spheres and divisions, all levels of management, they act as a universal instrument of control by society over the production, distribution and circulation of the total social product. Thanks to the control function of finance, society knows how the proportions in the distribution of funds are formed, how timely financial resources are at the disposal of different business entities, whether they are used economically and efficiently, etc.
So, the role of finance in the expanded reproduction of enterprises of various forms of ownership is especially great, since with their direct participation GDP is created and distributed within enterprises and industries.
3. The role of state resources for financial support of the reproduction process
State and local finances are monetary relations that develop between public authorities and local governments, on the one hand, and legal and individuals, on the other hand, in the process of cost distribution and redistribution of national income (partially national wealth) in connection with the formation, distribution and use of centralized monetary funds that meet the needs of the state and local government in solving economic, political and social problems.
An important role in the reproduction of all components of GDP belongs to the finances of enterprises and public finances.
Enterprise finance is the main tool for regulating reproduction proportions at the micro level, i.e. at the individual enterprise level. With their help, the reproduction of the structure is regulated production product, provides financing for the needs of expanded reproduction. The regulation of the reproductive process is also carried out with the help of bank loan, the insurance system, depreciation policy, the budget when using the taxation mechanism, the provision of tax incentives, the allocation of budget subsidies.
Functioning in the sphere of material production, the finances of enterprises serve the circulation of production assets.
However, the normal functioning of the economy is possible provided that each industry and its structural subdivisions are organically connected with other industries. On this basis, the necessary proportionality of the structure of social production is achieved, which ensures its balanced development as a whole. In a market economy with a decrease in state intervention in the regulation of the economy, the coordinated functioning of different parts of the economy is achieved by various forms of regulation.
One of the forms of economic regulation is self-regulation, which is characterized by the formation of financial potential in different parts of the sphere of material production. In conditions of financial independence, each business entity can carry out the formation of sources of expanded reproduction at the expense of its own financial resources, as well as attracting funds from other enterprises on a joint-stock basis or on a share basis, using bank loans, and receiving budget allocations under certain conditions. Financial resources formed from various sources make it possible to invest in new production, expand existing enterprises, finance applied science and introduce its results into production, etc.
However market mechanism regulation of the economy is not always effective, because it is not always able to ensure the redistribution of income in accordance with the goals of the state. Together with self-regulation, the restructuring of the economy is greatly influenced by government intervention into the economy. Such intervention is necessary in connection with financial support for priority areas of the economy, the development of industrial and social infrastructure facilities, the territorial distribution of resources to equalize the level of economic and social development of individual regions, etc. State intervention in the economy occurs through the mechanism of taxation, the provision of tax incentives and the allocation of budget allocations, subsidies and subventions, the financing of social events, as well as insurance and lending. At the expense of centralized funds, the needs of expanded reproduction at the macrolevel are met, i.e. at the level of the entire national economy.
Through the mechanism of taxation, the provision of tax incentives and the allocation of budget subsidies, the state encourages enterprises to implement options for the development of their activities that satisfy the interests and needs of the whole society. At the same time, state intervention in the economy has its limits: excessive state intervention in the form of providing unreasonable benefits and budget subsidies can lead to a weakening of economic incentives and a decrease in the efficiency of the entire market mechanism.
The financial support of the reproduction process is carried out in three forms: self-financing, lending and public funding.
Self-financing - based on the use of own financial resources of business entities, and in case of their shortage, credit resources or borrowed funds are used in the form of issue valuable papers.
Lending is a way of financing the reproduction process at the expense of bank loans provided on terms of urgency, payment and repayment.
State financing - is produced mainly on a non-refundable basis at the expense of budgetary and extrabudgetary funds.
In practice, all of the listed forms of financial support for reproduction costs are applied simultaneously.
One of the important tools for regulating the economy is financial incentives. As part of the financial incentives for the development of the economy and the growth of its efficiency, one can distinguish: priority and most effective areas for investing financial resources; budget stimulus, tax incentives and sanctions.
There are the following main areas of investment of financial resources:
a) financing the structural restructuring of the economy in order to develop the most priority areas;
b) financing and financial support of science-intensive technologies and industries based on national raw materials;
c) financing of new promising competitive industries, areas and individual industries;
d) financing of costs associated with the development of non-production infrastructure, the reproduction of the labor force, the improvement of its qualifications, the development of science, vocational training personnel and focus on new technologies.
An increase in the efficiency of the economy and its individual sectors can be ensured through a system of budgetary incentives, acting in the form of tax incentives, full or partial exemption from certain taxes. The stimulating nature of the budget financing system is to support highly effective or socially significant projects.
The system of financial benefits and sanctions also has a stimulating value. Benefits can be provided to finance activities for the development of new high-tech industries, the development of scientific and technological progress, and environmental protection measures. As a benefit, full or partial exemption from taxes on profits of enterprises can act. The system of sanctions can be applied for violation of contractual terms, settlement and financial discipline.
Economic growth is possible only in conditions of a sharp increase in investment resources, strengthening the purchasing power of the ruble, reducing the tax burden on enterprises.
Financial resources and sources of their formation
The material and material embodiment of the objective economic category "finance" and the bearer of financial relations are financial resources.
With the wide use of the term "financial resources", its interpretation is different. In Russia, it was first used in the preparation of the first five-year plan of the country, which included a balance of financial resources, and in the preparation of the GOELRO plan.
Since finance is an economic relationship mediated by money, financial resources should be understood only as those resources that have a monetary form, in contrast to material, labor, natural and other resources. Thus, we can make the first and important conclusion that financial resources exist only in monetary form.
However, financial resources are only a part of the monetary resources used by state authorities and local governments, as well as business entities and the population. In addition to financial resources, monetary resources include credit resources, monetary incomes of the population, working capital of enterprises.
Financial resources always have an owner or a person to whom the owner has delegated the rights to dispose of them. Financial resources cannot be outside property relations. And only that part of the monetary resources that is owned or disposed of by state authorities and local governments, economic entities and serves the process of social reproduction (expanded reproduction, material incentives for workers, social needs and other social needs) refers to financial resources.
Financial resources are part of the monetary resources owned or disposed of by the state, local governments and business entities and used by them for the purpose of expanded reproduction, meeting the socio-cultural needs of the population and for the performance by the state and local governments of the functions and tasks assigned to them.
In theory and practice, financial resources are divided into centralized funds (state budget, off-budget funds) and decentralized financial resources (cash funds of enterprises). Allocate also the financial resources of the state, regions, local governments, enterprises.
The financial resources of the company are made up of the financial resources of economic entities, the financial resources of the federation and the subjects of the federation, the financial resources of municipal governments and the financial resources of insurance companies.
Financial resources are created in the process of distribution of the total social product and national income.
Sources of formation of financial resources of the company:
1. National income (based on the distribution and redistribution of national income, centralized funds of funds are created; a part of the national income that is formed and remains at the disposal of enterprises creates decentralized funds of funds); Part of the national wealth (previously accumulated funds: from the sale of gold reserves, the sale of energy resources, foreign exchange reserves, insurance reserves, etc.);
2. Cash income organizations and enterprises in the manufacturing sector. First of all, they include profit, which acts as one of the forms of value of the surplus product.
3. Depreciation deductions formed at the expense of a part of the cost of fixed production assets;
4. Contributions of enterprises to state off-budget social funds, property and personal insurance;
5. Borrowed and borrowed funds (in the form of bank loans, commercial loans, accounts payable; funds received from the issue of securities, etc.);
6. Receipts from the population (taxes, fees, proceeds from loans and lotteries);
7. Income from foreign trade operations, external government loans and borrowings, income from securities purchased in the external financial market, foreign investment and humanitarian aid.
The main source of the society's financial resources are the national income, the profits of organizations regardless of the form of ownership, the depreciation fund, and insurance funds.
The sources of financial resources at the disposal of state authorities and local self-government are the gross domestic product (its parts: the amount of indirect taxes, national income), as well as part of the value of national wealth in the form of previously accumulated funds and income from foreign economic activity.
The use of financial resources is carried out mainly through special-purpose funds, although a non-fund form of their use is also possible. The stock form of using financial resources has some advantages: it ensures the concentration of resources in the main directions of economic development, makes it possible to more fully link public and personal interests and more actively influence production. Under market conditions, the financial resources of public authorities and local self-government bodies are formed and used in the stock form. Such funds include the budgets of the corresponding levels and state off-budget social funds.
The composition of the financial resources of economic entities is formed under the influence of the following factors:
1. Spheres of activity (material production or non-production sphere);
2. Method of farming (on a commercial or non-commercial basis);
3. Organizational and legal form;
4. Industry features.
The main sources of formation of financial resources of economic entities include:
1.Own funds;
2. Raised funds.
The own sources of formation of financial resources of commercial organizations include:
1.Share capital (in joint-stock companies), share contributions (in consumer societies, production cooperatives), statutory contributions (at the time of establishment of the enterprise);
2. Net revenue from core activities (this is revenue from the sale of products, work performed, services rendered; revenue from investment activity; proceeds from financial activities);
3. Non-operating income (received fines, penalties, forfeits for violation of the terms of contracts; assets received free of charge; receipts in compensation for losses caused to the enterprise, etc.);
4. Operating income (income from the temporary possession and use of the organization's assets for a fee; proceeds from the sale of fixed assets and other assets other than cash (except foreign exchange), products, goods; income related to participation in the authorized capital of other organizations, including interest and other income from securities, etc.);
5. Extraordinary income (receipts arising as a result of extraordinary circumstances of economic activity (natural disaster, fire, accident, etc.), insurance compensation, as well as the cost material values remaining after the write-off of assets unsuitable for recovery and further use).
The attracted sources of formation of financial resources of a commercial organization include:
1. Borrowed funds (long-term and short-term loans of banks and organizations);
2. Accounts payable;
3. Budget subsidies;
4. Foreign investments.
The main source of the formation of financial resources of an operating commercial organization is the net proceeds from the main activity, first of all, the net proceeds from the sale of products (works, services), due to which gross income and profit are formed, as well as depreciation charges.
The financial resources of a commercial organization are used in the following areas:
1.Payment of taxes and fees in budget system countries (budgets of different levels and state non-budgetary social funds of the federal and territorial levels);
2. Payment of interest for the use of the loan;
3.Repayment of loans;
4.Insurance payments;
5. Financing of capital investments;
6. Increase in working capital;
7. Financing of research and development work;
8. Fulfillment of obligations to the owners of a commercial organization (for example, payment of dividends);
9. Material incentives for employees of the organization;
10. Financing the social needs of the employees of the organization;
11. Charitable purposes;
12. Sponsorship, etc.;
The form of use of financial resources of economic entities is currently less regulated by the state. Procedure for the use of financial resources commercial organizations is determined by their constituent documents, and therefore a combination of stock and non-stock forms is possible here. Part of the resources of business entities can be directed to the formation of special-purpose funds (for example, economic and material incentives, reserve funds). Use of financial resources for execution financial obligations before the budgets of different levels, state extra-budgetary social funds, banks, insurance organizations, the payment of penalties is carried out in a non-fund form.
Based on the above material, the following conclusions can be drawn:
1. Financial resources are part of the monetary resources owned or disposed of by the state, local governments and business entities and used by them for the purpose of expanded reproduction, meeting the socio-cultural needs of the population and for the performance by the state and local governments of the functions assigned to them and tasks.
2. Financial resources are divided into centralized and decentralized.
3. The sources of state financial resources are GDP, as well as part of the value of national wealth in the form of previously accumulated funds.
4. Using finance as an economic stimulus for the reproductive process
finance production fund reproduction
In regulating the economy, an important role is played by the finances of enterprises, insurance, the state budget, extra-budgetary funds. Enterprise finance is one of the main instruments of regulation. Here, at the lower level, the reproductive structure is regulated, the needs of the economy are financed, the savings and incomes received are divided into the consumption fund and the accumulation fund, and the financial impact on labor resources is carried out.
Finance is used in the same way as an economic stimulus tool. Stimulation is closely, organically connected with regulation, one might even say it represents it. part. Financial incentives are an important method of regulating proportions in the production and distribution of the social product. Financial incentives should be designed in such a way that they have an impact on the development of production, increase its efficiency, and serve as a tool for motivating work. As part of financial incentives, one can single out the rational direction of investment funds, the creation of incentive funds, the use budget funds facilitating the development of production, the establishment of financial benefits or the application of financial sanctions.
The state is called upon to use finance to perform its functions and achieve goals that correspond to public needs and interests. And in the implementation of these functions and the achievement of goals, a significant role belongs to financial policy. Financial policy is the policy of using finance in the system of the monetary form of implementation of the economic laws of commodity production, in other words, financial policy- this is the art of redistributing financial resources in order to create conditions for increasing the distribution base, the total amount of available resources, that is, the art of financial management. When implementing such a policy, the main directions for the use of finance and the implementation of practical actions that can contribute to the fulfillment of finances of their role in society are determined. These areas are, firstly, the development of scientifically based concepts for the development of finance, which are formed on the basis of studying the requirements of economic laws, a comprehensive analysis of the state of economic development, development prospects credit system, the needs of the population, and, secondly, the definition of the main directions for the use of finance for the prospective and current period, based on the ways to achieve the goal, taking into account international factors, the possibility of increasing financial resources, as well as the implementation of practical actions aimed at achieving the goals. Depending on the duration of the period and the nature of the tasks to be solved, financial policy is manifested in financial strategy and financial tactics. Financial strategy is a long-term policy designed for a long period and the implementation of large-scale tasks. Financial tactics are aimed at using finances to achieve short-term, current goals. It is usually implemented by changing the organization of financial ties, moving financial resources, flexible use of finance as a tool that helps to fulfill the tasks of the near future.
For the implementation of financial policy, a financial mechanism is used, which means the forms, methods of organizing financial resources, financial relations, which are used to create conditions conducive to economic development. The financial mechanism is an integral part of a more general economic mechanism, the system of economic management. In the hierarchical structure of the financial mechanism, two levels are distinguished, which form the mechanism of finance for enterprises and organizations and the mechanism for the functioning of public finance. An independent part is the insurance financial mechanism. For the implementation of financial policy, it is necessary to develop and use legal norms, laws, regulations and other relevant acts that establish the rules for organizing financial relations, protect economic interests society, collectives and individuals.
Compliance with financial legislation helps to maintain financial discipline, allows for coordinated actions in all areas of financial activity.
Unfortunately, at the stage of transition to a market economy, financial legislation governing financial activity, suffers from incompleteness, internal inconsistency, which hinders economic initiative and hinders the speedy mobilization of available resources for the development of production, for strengthening state revenues and providing financial resources for each cell of society. Alas, the partially created and, it must be admitted, not quite a full-fledged legislative financial mechanism is also ineffective due to non-compliance with laws and regulations by enterprises, organizations, and citizens.
The art of financial management consists in choosing the most effective method from among those available or creating conditions for the rational use of the methods used in order to quickly solve the problem. The objects of financial management are various types of financial relations, such as enterprise finance, insurance, public finance, the organizational structures that manage, that is, financial services, act as subjects. insurance authorities, financial authorities and tax inspections, which together form the financial apparatus. Financial management uses planning, operational regulation, accounting and control. Financial planning sets itself the task of establishing their future state and phased distribution and use. In the planning process, the state of the finances of each cell of society is assessed, possibilities for changing the structure and volume of financial resources are identified, and a rational direction for their use is determined. To make informed management decisions through planning, it is necessary to rely on economic analysis and forecasting the future state of finances. With regard to operational management as an element used by the management system, it represents those measures that are taken for the effective use of available financial resources in order to obtain the desired results. Accounting and control as elements of management is used both in the planning process and in the process of operational management and allows you to compare the actual results from the use of financial resources with the planned ones, identify reserves for the growth of financial resources, and outline ways for effective management.
AT Russian Federation in accordance with the Constitution, general, strategic financial management is carried out by the highest bodies of state power - parliament, president, government. Operational management is carried out by the financial apparatus, which includes the Ministry of Finance of the Russian Federation. Central to the Ministry of Finance is the Budget Office and the Budget Execution Office (Treasury). The Ministry of Finance also has a Tax Reform Department, a State Securities Department and financial market, Development Funding Office Agriculture. Control financial programs development of production infrastructure and a number of other sectoral and functional departments.
Serious tasks should be solved by the bodies of the State tax service Russia. This service is entrusted with monitoring compliance with and timely contribution of funds to the budget, preparing proposals for improving tax legislation. To strengthen control over the timeliness of making funds to the state budget and non-budgetary funds in Russia, a special tax police has been established.
In this way:
1. The state is called upon to use finances to perform its functions and achieve goals that correspond to public needs and interests in accordance with financial policy.
2. In the Russian Federation, in accordance with the Constitution, general, strategic financial management is carried out by the highest bodies of state power - the parliament, the president, and the government.
Conclusion
From all of the above, we can conclude that finance is an integral part of monetary relations and plays a huge role in the formation, distribution and use of centralized and decentralized funds of funds in order to perform the functions and tasks of the state and ensure conditions for expanded reproduction. It can also be said that finances are objectively necessary, as they are conditioned by the needs of social development. The state can, taking into account the objective need for financial relations, develop various forms of their use: introduce or cancel various types of payments, change the forms of use of financial resources, etc. The state cannot create something that is not objectively prepared by the course of social development. It establishes only the forms of manifestation of objectively mature economic relations. Without finance, it is impossible to ensure the individual and social circulation of production assets on an extended basis, to regulate the sectoral and territorial structure economically, to stimulate the most rapid introduction of scientific and technological achievements, and to satisfy other social needs.
The functions of finance were considered, namely: distribution and control - these functions are carried out by finance at the same time. We must not forget that in addition to these two main functions, there are others: the regulatory function - it is associated with state intervention through finances in the reproduction process, the stabilization function - provides stable conditions for all economic entities and citizens in economic and social relations.
Hosted on Allbest.ru
Objective prerequisites and the possibility of using finance to ensure the production process. Directions for the use of finance in social production. Participation of links of the financial system in the regulation of the economy, methods of stimulation.
term paper, added 01/30/2011
The essence and necessity of finance in the conditions of commodity-money relations. Functions of finance: the formation of cash funds, the use of income and control. Consideration of policy and regulatory financial mechanisms. Types of profit of the enterprise.
term paper, added 11/13/2013
The concept and essence of enterprise finance statistics, its subject, tasks. general characteristics sources of formation and direction of financial resources. Methodology for calculating indicators of enterprise finances. Statistical analysis of the enterprise activity.
term paper, added 05/08/2010
Functions and principles of organization of finance. Essence, content and functions of financial management. Methodology financial analysis. Features of lending to the reproductive sector in a planned economy. Current state industry of Kazakhstan.
thesis, added 11/24/2010
Forms of display of the finance of the enterprises. Payment means. financial processes. Financial management. Enterprise image. Functions of enterprise finance. Principles of organization of finance. Financial service enterprises.
abstract, added 12/25/2004
Participation of economic entities in the process of social reproduction. The mechanism of distribution and redistribution of GDP through state and municipal finance. State financial policy, its impact on the reproductive process.
term paper, added 01/17/2014
The main categories and system of indicators of finance statistics. Statistics of public finances and the state budget. Characteristic financial transactions reflected in the system of national accounts, their adjustment. Calculation of the average wage.
term paper, added 04/16/2014
Assessment Methods financial condition, indicators that characterize it. The role of finance in the development of the enterprise. Analysis of the financial condition, the ratio of own and borrowed capital of the enterprise. Evaluation of finance based on the liquidity of the balance sheet.
term paper, added 03/29/2008
General economic nature of finance and credit. Continuation in credit of the distribution of value begun by the price, salary, finance. Relationship between finance and price economic laws. Legal regulation main aspects of economic relations.
abstract, added 09/09/2009
Theoretical and methodological foundations of finance as an economic category. Four main components of centralized finance. Forms state loan. The financial system of the USA, France, Great Britain, Japan. The main objectives of the pricing policy.
