The concept of financial resources of the enterprise, their essence and composition. Financial resources and their composition The totality of material and financial resources
Financial resources is a set of all norms that are at the disposal of the state, enterprises, organizations, institutions for the formation of the necessary assets in order to carry out all types of activities both at the expense of income, savings and capital, and at the expense of of various kinds receipts. An important part of financial resources are banking resources.
The financial resources of the state and enterprises are the direct objects of financial management, that is, the management of their formation, use and cash flow.
Availability of sufficient financial resources, their effective use, predetermine a good financial position of the enterprise, solvency, financial stability, liquidity. In this regard, the most important task of enterprises is to find reserves for increasing their own financial resources and their most effective use in order to improve the efficiency of the enterprise as a whole.
The efficient formation and use of financial resources ensures the financial stability of enterprises and prevents their bankruptcy.
Literature
- A.F. Chernenko, N.N. Ilysheva, A.V. Basharina. Financial position and the efficiency of using the resources of the enterprise), Moscow: Unity-Dana, 2009, ISBN 978-5-238-01610-8
Notes (edit)
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See what "Financial resources" is in other dictionaries:
States, regions, enterprises, firms, the totality of all types Money, financial assets that an economic entity has at its disposal. Financial resources are the result of the interaction of income ... Economic Dictionary
Financial resources- see Financial assets ... Economics and Mathematics Dictionary
Cash incomes, savings and receipts formed in the hands of business entities and the state and intended for the purpose of expanded reproduction, material incentives for workers, meeting social needs, needs ... ... Financial vocabulary
Funds held by a government or commercial entity. Dictionary of business terms. Academic.ru. 2001 ... Business glossary
financial resources- Funds of money that can be invested in the development of production or to achieve economic or social goals ... Geography Dictionary
Financial resources- - monetary funds at the disposal of the enterprise and intended for the implementation of current costs and costs of expanded reproduction, for the fulfillment of financial obligations and economic incentives for workers. Financial ... ... Commercial power industry. Reference dictionary
FINANCIAL RESOURCES- (English financial resources) - funds generated as a result of economic and financial activities, in the process of creating and distributing the gross national product. Accumulated by state and business entities and ... ... Financial and credit encyclopedic dictionary
The aggregate of all types of monetary funds, financial assets at the disposal of an economic entity. F.R. are the result of the interaction of receipts and expenditures, the distribution of funds, their accumulation and use ... Encyclopedic Dictionary of Economics and Law
financial resources (states, regions, enterprises, firms)- the aggregate of all types of monetary funds, financial assets that an economic entity has at its disposal. Financial resources are the result of the interaction of income and expenses, the distribution of cash ... ... Dictionary of economic terms
Financial resources attracted by the enterprise: new loans, proceeds from the sale of new issues of shares. External financial resources are not created by the enterprise. In English: External finance See also: Capital Structure Financial Dictionary Finam ... Financial vocabulary
Books
- Economics and Management of Information Systems, N. V. Galieva. The textbook examines the main content of resources (fixed assets, working capital, labor resources, financial resources, information resources), the composition of production costs, price ... eBook
Implementation of financial relations assumes that the company has financial resources. However, the natural condition for the functioning of an enterprise is the limitedness of all resources, including financial ones, in relation to the possibility of their use. Hence, the task of meeting the financial needs of the enterprise is considered as a priority in financial management.
Financial resources of the enterprise- This is a set of funds in the form of income and external receipts, intended to ensure current costs, fulfillment of financial obligations and the implementation of costs to ensure expanded reproduction and economic incentives for workers. The formation of financial resources is carried out from various sources, which are subdivided into internal and external. Internal sources are formed at the expense of their own and equivalent funds and are associated with the results of management. External sources represent the inflow of resources to the enterprise from the outside.
The initial formation of financial resources occurs at the time of the establishment of the enterprise, when the authorized capital (share or joint capital) is formed.
These funds are transferred to the enterprise for temporary use on the basis of payment and return. As part of financial resources formed in the order of redistribution, in last years the role of the developing insurance market is increasing, providing the company with insurance compensation for risks. The privatization of state property that took place in the country gave rise to new sources of financial resources in the form of share, share and other contributions of founders, as well as income from securities issued by other enterprises, income from keeping funds in deposit accounts in financial and credit institutions, income from renting out property.
Special attention should be paid to the noticeably reduced role of budget allocations... In the recent past, they occupied an important place in financial resources, and they were received by enterprises most often on a gratuitous basis. At present, budgetary and sectoral financial sources play an ever-smaller role in the structure of the company's financial resources, and are intended for a strictly limited list of costs. The structure of financial resources of enterprises is not the same and depends on the organizational and legal form of the enterprise, as well as on its type and industry affiliation. Directions of the use of financial resources.
Since the main task of a commercial organization is to maximize profit, the problem of choosing the direction of using financial resources constantly arises: investments in order to expand the main activities of a commercial organization or investments in other assets. As you know, the economic value of profit is associated with obtaining a result from investments in the most profitable assets.
The following main directions of using the financial resources of a commercial organization can be distinguished:
Capital investments.
Expansion of working capital.
Implementation of research and development work ( R&D).
Payment of taxes.
Placement in securities of other issuers, bank deposits and other assets.
Distribution of profits between the owners of the organization.
Encouraging employees of the organization and supporting their family members.
Charitable purposes.
If the strategy of a commercial organization is associated with maintaining and expanding its position in the market, then it is necessary capital investment(investments in fixed assets (capital)). Capital investments are one of the most important areas of using the financial resources of a commercial organization. In Russian conditions, it is very important to increase the volume of capital investments in connection with the need to upgrade equipment, introduce resource-saving technologies and other innovations, since the percentage of not only moral, but also physical wear and tear of equipment is very high.
Investments in the fixed assets of a commercial organization are made from the following sources: depreciation, profits of a commercial organization, long-term bank loans, budget loans and investments, proceeds from the placement of shares on the financial market, proceeds from the placement of long-term securities.
In addition to the expanded reproduction of fixed assets, a part of the organization's profit can be directed to expanding working capital - the purchase of additional raw materials and materials. For this purpose, short-term bank loans can also be attracted, funds received in the order of redistribution from the main ("parent") company, etc. can be used.
Great importance for business development has the participation of a commercial organization in scientific research. The experience of foreign countries shows that organizations implementing innovations are less exposed to the risk of bankruptcy and provide a high level of profitability. Consequently, a part of the profit of a commercial organization, as well as funds received in the order of targeted financing (for example, budget funds), can be intended for implementation research and development work (R&D).
As already noted, deductions from profits can be sent to sectoral and intersectoral R&D funds. Such deductions reduce the tax base for income tax.
Profit as cash income of a commercial organization is taxable. To determine the taxable base for the corporate profit tax, income from the sale of goods (works, services) and property rights, as well as non-operating income, are reduced by the corresponding expenses incurred.
For further savings a commercial organization can invest not only in its own production, but also in other assets. Such assets can be shares in authorized capital other organizations (including shares of other issuers); debt securities (bonds, bills, including government and municipal securities); bank deposits; transfer of funds to other organizations on the basis of loan agreements; acquisition of property for further leasing, etc.
The named investments can be different in terms: from several hours (such services are offered by banks for short-term investments) to several years. The main principles of placing temporarily free financial resources are liquidity of assets (they should easily turn into means of payment at any time) and diversification (in market conditions of unpredictability of investments, the greater the likelihood of saving funds, the larger the set of assets in which investments are made).
One of the main differences commercial organizations from non-profit is that the profits of commercial organizations are distributed among the owners of this organization. Joint Stock Companies pay dividends to holders of common and preferred shares; partnerships, companies with limited liability distribute profits accordingly with a share of participation in the authorized (warehouse) capital. The profits of unitary enterprises, unless the owner makes another decision, may come in the form of non-tax revenues to the corresponding budget.
The financial resources of a commercial organization can be a source of expenses related to incentivizing employees and supporting their families.
The financial resources of organizations (profits, receipts) are currently also used for charitable purposes.
Financial resources are difficult economic category, which cannot be completely identified with money. At the same time, it is rather difficult to single out a clear criterion on the basis of which it is possible to establish quantitative boundaries of financial resources and characterize their specificity, in contrast to the category of “cash”.
Financial resources are an objective macroeconomic category, the content of which is determined by the conditions of the material and financial balance of the economy. The equality of the receipt and expenditure of financial resources indicates that the effective demand of enterprises, which is formed as a result of financing the costs of developing the national economy and the functioning of state institutions, has material coverage, since it corresponds to the created financial resources. Therefore, the condition of material and financial balance can be represented both in the form of the correspondence between the sum of financial resources and the volume of material goods, and in the form of balance equality of their receipt and expenditure.
Distinguish between subjects and objects of financial resources. The subjects of financial resources are households, enterprises, and states. The objects of financial resources are centralized and decentralized financial resources. Centralized financial resources are formed at the micro level, decentralized - at the macro level.
The financial resources include:
1) Own funds:
a) at the level of enterprises and households - profit. Salary, household income,
b) at the state level - income from state-owned enterprises, privatization, as well as from foreign economic activity;
2) mobilized in the market: purchase and sale of securities, bank credit - for enterprises and households; at the state level - the issue of securities and money, government loans.
3) Funds received by way of redistribution "at the enterprise level interest and dividends on securities issued by other owners; at the state level - taxes, fees, duties.
Determining the essence of financial resources, it is advisable to proceed from their functional purpose in the process of expanded reproduction of GDP and ND. This process is characterized by the movement of commodity and money supply, consists of several stages, at each of which commodity and cash flows match each other in different ways. At the initial stage of the movement (production) of GDP and the final (its use) cash flows mediate commodity flows. At the stage of distribution and redistribution, the monetary form of expression of GDP acquires a relatively independent movement, since it is at these stages that financial relations arise. As a result, various monetary funds are formed, they are regrouped and final incomes are formed. This is how the volume and structure of national production and the needs of the national economy are reconciled, which in practice is calculated as GDP in terms of expenditures and GDP in terms of income.
Part of the money turnover is strictly coordinated with commodity circulation, since it is realized as a result of the exchange of equivalents. Expressed in commodity form from the seller and money from the buyer. When exchanging equivalents, there are no conditions for material and financial imbalance in society.
Another part of the money turnover is associated with the needs of expanded reproduction of GDP. They are provided in the process of its distribution and redistribution with the help of finance. This part of the money turnover represents financial flows., I.e. the movement of those funds that can be spent on the development of the national economy and the satisfaction of national and social needs.
Specific feature financial flows, in contrast to monetary, is their lack of equivalence. As a result, it is finance in the process of distribution and redistribution of GDP that generates an independent movement of money, which is where the prerequisites for the material and financial imbalance of the national economy lie. Thus, financial resources are a quantitative characteristic of the financial result of the reproduction process for a certain period. These are the funds that can be legitimately used to compensate for the disposal of fixed assets, productive and non-productive accumulation, and collective consumption. This macroeconomic indicator has a balance sheet nature, since it can be presented as the sum of both income and expenses.
The specific content of financial resources is due to the fact that they are:
a. as funds of accumulation funds, which are formed as a result of the production, distribution and redistribution of the gross domestic product;
b. as final income, i.e. monetary funds that are intended to be exchanged for goods and services;
c. as those incomes that have material coverage, since they are generated as a result of the sale of goods and services;
d. as sources of their formation (constituent elements): depreciation, profit, tax revenues. Non-tax revenues, capital transfers, targeted budgetary funds, state off-budget social funds, other supply;
e. as the final financial results the reproduction process, since they are used to finance capital investments and capital repairs of fixed assets, an increase working capital, the purchase of equipment and durable goods for budgetary organizations, the costs of social and cultural events, science, defense, the maintenance of state authorities and administration, etc.
It is inappropriate to include short-term credit resources in the composition of financial resources, since their formation is not associated with the creation of new material wealth, but occurs as a result of the redistribution of financial resources.
Savings of the population in the form of an increase in deposits of the population in commercial banks by their economic essence are a source of financial resources, since in the material aspect (from the point of view of the correspondence of the effective demand of the population and the resources of the commodity supply and the volume of paid services) they correspond material resources equal to deferred demand in ND.
So, the country's financial resources are part of the GDP and can be presented as the sum of the following indicators of the system of national accounts (SNA): gross profit of the economy, contributions to state off-budget social funds, taxes on production and imports, taxes from individuals, household savings, loans received from foreign countries.
Thus, with the help of financial resources, that part of the GDP is allocated, which can be directed to the expansion of the socio-economic system as a whole. With their help, in the composition of the produced GDP, the part corresponding to the current costs of materials and labor consumed in the production process is delimited, and the fund for expanded reproduction of production factors, including labor force... From this point of view, it is legitimate to include in the fund for expanded reproduction the expenses of society on health care, education, social policy etc.
Finance is a part of economic relations in society, but in practice we are not dealing with abstract relations, but with real money. The distribution and redistribution of value through finance is accompanied by the movement of funds in the form of income, receipts and savings, which together make up financial resources, that are material carriers of financial relations.
While the term “financial resources” is widely used, its interpretation is different. In Russia, it was first applied when drawing up the country's first five-year plan, which included a balance of financial resources.
In a more general sense, a "resource" in dictionaries is considered as a stock that acts as a source of satisfaction of needs, the formation of funds. Since finance is an economic relationship mediated by money, it is obvious that financial resources are understood only as resources that have a monetary form, as opposed to material, labor, natural and other resources. Thus, we can make the first conclusion that financial resources exist only in monetary form.
However, financial resources are not the entire amount of funds used by public authorities and local authorities, as well as by business entities. In addition to financial resources, credit resources, personal monetary incomes of the population, etc. also function in monetary form. Therefore, it is important to highlight such signs of financial resources that will allow them to be isolated from the total amount of funds.
In any society, financial resources do not exist by themselves, they always have an owner or a person to whom the owner has delegated the right to dispose of them. Financial resources cannot be outside property relations. And only that part of the money that is owned or at the disposal of business entities or public authorities and local governments and serves the process of social reproduction, refers to financial resources.
Their belonging to a specific economic entity or state and local government bodies allows them to be separated from the part of the population's monetary income and savings that is not involved in the process of social reproduction.
However, not all monetary funds of business entities can be attributed to financial resources, but only those that mediate the processes of production of goods, the provision of various types of services, or are used to finance the functions of public authorities and local self-government.
This implies the following sign of financial resources - they are always used for the purpose of expanded reproduction, social needs, material incentives for workers, satisfaction of other social needs.
Thus, under financial resources means cash income, savings and receipts owned or at the disposal of business entities or state and local authorities and used by them for the purposes of expanded reproduction, social needs, material incentives for workers, satisfaction of other social needs 1 .
It is customary to refer to the sources of formation of financial resources the cost of gross domestic product, part of the national wealth and receipts from foreign economic activity.
Part of the national wealth is involved in economic circulation in the form of carry-over budget funds; funds from the sale of a part of the country's gold reserves; proceeds from the sale of surplus, confiscated and ownerless property, income from privatization, etc. From foreign economic activity, financial resources come in the form of income from foreign trade operations, external government borrowings, foreign investment etc.
Types of financial resources- these are those specific forms of income, receipts and savings that are formed by business entities and government entities as a result of financial distribution... They are: depreciation charges, profit of the organization, tax revenues, insurance payments, etc..
The composition of sources of financial resources of business entities will be influenced by the sphere of activity (material production or non-production sphere), the way of doing business, i.e. Does the organization pursue profit-making as the main goal of its activities (commercial organizations) or does not have such a goal and does not distribute the received profit among the participants (non-profit organizations), organizational and legal form, industry characteristics, etc.
Financial resources of a commercial organization- these are monetary incomes, savings and receipts owned or at the disposal of the organization and intended to fulfill financial obligations, ensure reproduction costs, social needs and material incentives for workers.
TO the main sources of the formation of financial resources of a commercial organization relate:
proceeds from the sale of products, works and services;
proceeds from other sales (for example, retired fixed assets, inventories, etc.);
non-operating income (received fines, dividends and interest on securities, etc.);
budget resources;
funds received through the redistribution of financial resources within vertically integrated structures and industries.
By types of financial resources of a commercial organization there will be profits from the sale of goods (works or services), from the sale of property, the balance of income and expenses from non-sale activities, depreciation deductions, reserve and similar funds formed from the profit of previous years.
Directions for the use of financial resources of a commercial organization are: payments to budgets of different levels and outside budget funds, payment of interest for using a loan, repayment of loans, insurance payments, financing of capital investments, an increase working capital, financing research and development work, fulfilling obligations to the owners of a commercial organization (for example, paying dividends), material incentives for employees of the enterprise, financing their social needs, charitable purposes, sponsorship, etc.
Financial resources non-profit organization - these are monetary incomes, receipts and savings used for the implementation and expansion of the statutory activities of the organization... The organizational and legal form and type of activity of a non-profit organization will influence the composition of sources of financial resources, as well as the mechanism of their formation and use.
TO the main sources of financial resources of non-profit organizations relate:
founder and membership fees;
income from entrepreneurial and other income-generating activities;
budget resources;
gratuitous transfers of individuals and legal entities;
other sources.
By types of financial resources of non-profit organizations are budget funds, gratuitous transfers of legal entities and individuals, including grants, profits, depreciation deductions (except budgetary institutions), reserve and similar funds (except for budgetary institutions), etc.
Since 2007 in Russian Federation part of the funds that non-profit organizations receive in the form of gratuitous transfers from individuals and legal entities (donations) takes the form of endowment capital 2.
The financial resources of the non-profit organization are used for the realization of the main purpose of its creation. These can be expenses related to the remuneration of employees, the operation of premises, the purchase of equipment, payments to budgets and state non-budgetary funds, capital investments, major repairs of buildings and structures, etc.
In addition to business entities conducting their activities as entity, entrepreneurial activity can also be carried out by individual entrepreneurs, who also form financial resources.
Sources of financial resources for individual entrepreneurs are personal savings and income received by them as a result of the implementation economic activity... In addition, entrepreneurs can attract borrowed funds to carry out their activities.
Financial resources individual entrepreneurs are used for expanding the business, payments to the budget and state extra-budgetary funds, labor costs employees, charitable contributions and donations, etc.
If entrepreneurial activity ceases, all income received is directed to the personal consumption of the entrepreneur.
Sources of financial resources at the disposal of public authorities and local self-government, are the gross domestic product, part of the value of national wealth and receipts from foreign economic activity.
The gross domestic product is the main source of the formation of state and municipal financial resources. But sometimes, for example, during periods of economic crisis or the onset of extraordinary circumstances (revolutions, wars, major natural disasters, etc.), the previously accumulated national wealth can act as a source of state and municipal financial resources.
The financial resources of public authorities and local self-government are:
tax revenues (corporate income tax, personal income tax, unified social tax, etc.);
non-tax income (dividends on shares in state and municipal ownership, income from the lease of state and municipal property, interest received from the provision of budget loans
(budget loans), etc.);
gratuitous transfers (from budgets of other levels, state extra-budgetary funds, etc.);
other income.
Use of financial resources at the disposal of state authorities and local self-government, directly related to the functions of the state: economic, social, managerial, strengthening the defense capability; through financial resources, important needs of society are provided in the field of economic development, financing of the social sphere, implementation of state and municipal administration, strengthening the country's defense capability, etc.
The formation and use of financial resources is carried out in stock or non-stock form... The stock form is predetermined by the needs of public authorities and local self-government, which need financial resources to ensure their functioning, and some of the needs of business entities engaged in expanded reproduction. In the formation and use of their financial resources, both multi-purpose and narrow-purpose funds are used.
Financial funds have the following traits:
this is a stand-alone part that stands out from the total amount of funds;
as a result of isolation, the monetary fund begins to function independently, and this independence is relative, there is a constant replenishment and use of funds;
always created to finance a goal, and goals can be of different orders, broad and narrow;
has legal support, which regulates the issues of the order of its formation and use.
The stock form of education and the use of financial resources has advantages over the non-stock form.
Formation of separately functioning financial funds with a clear regulation of the order of their formation and use, it ensures the concentration of financial resources for the implementation of urgent tasks, allows them to manage them more efficiently and facilitates control over their formation and use. However, if earlier the stock form was the main one, then in the market conditions the stock form is formed and used mainly by the financial resources of state authorities and local self-government bodies. These funds include budgets of the respective levels and extrabudgetary funds... The form of using financial resources of business entities is currently less regulated by the state. The procedure for the use of financial resources commercial organizations 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 incentives, reserve funds). The use of financial resources to fulfill financial obligations to budgets of different levels, state extra-budgetary funds, banks, insurance organizations, payment of penalties is carried out in non-fund form.
1 See: Finance / Ed. V.M. Rodionova. - S. 10, 35.
2 See Article 2 of Federal Law No. 275-FZ of 30.12.2006 “On the Procedure for Forming and Using the Endowment Capital of Non-Commercial Organizations”.
(Materials are given on the basis of: A.G. Gryaznov. E.V. Markina Finance. Textbook. 2nd ed. - M.: Finance and statistics, 2012)
ALL-RUSSIAN CORRESPONDENCE FINANCIAL AND ECONOMIC INSTITUTE
DEPARTMENT OF FINANCE AND CREDIT
TEST
in the discipline "Finance"
Lipetsk - 2008.
1.Financial resources and their composition ........................................... ........................... 3
2. State budget, economic content and significance ........................ 6
List of used literature ............................................... ....................eleven
1. Financial resources and their composition
Financial resources - This the totality of funds of funds at the disposal of economic entities, the state, households, i.e. it is money serving financial transactions. They are formed in the process of material production, where new value is created and GDP and ND arise. Therefore, the amount of financial resources depends on the size of GDP and ND.
The subjects of financial resources are:
1) households;
2) enterprises, associations, companies, etc. legal entities that own decentralized financial resources;
3) the state in the form of various budgets and extra-budgetary funds.
The relationship between them is determined by market relations. The more independence individuals and legal entities have, the more opportunities they have to form financial resources. In turn, this ensures an increase in the receipt of financial resources for the state. The optimal ratio between them is determined by the state on the basis of a scientifically grounded calculation laid down in the country's socio-economic forecasts.
The objects of financial resources are financial relations, as a result of which targeted monetary funds are formed. They are concentrated in two blocks:
1) decentralized financial resources that are created on microlevel... At enterprises, there is a process of separating specific forms of primary income (profit, wages) from the gross income, there is a process of capital accumulation in the form of a depreciation fund, proceeds from retired property, etc. , durable goods);
2) centralized financial resources created on macro level, which include revenues of budgets of all levels and revenues of extra-budgetary funds.
Financial resources include :
1) own funds:
at the level of enterprises and households - profit, wages, household income;
at the state level - income from state-owned enterprises, privatization, as well as from foreign economic activity;
2) mobilized in the market:
at the level of enterprises and households - sale and purchase of securities, bank loans;
at the state level - the issue of securities and money, government loans;
3) funds received by way of redistribution:
at the level of enterprises and households - interest and dividends on securities issued by other owners;
at the state level - compulsory payments (taxes, fees, duties).
Finance and financial resources are not identical concepts. Financial resources do not determine the essence of finance, do not disclose their internal content and public purpose.
Financial resources, their formation and use are reflected in the consolidated financial balance of the Russian Federation.
Consolidated financial balance of the Russian Federation includes financial resources from three sources:
1) the resources used by the enterprises themselves (profit, depreciation);
2) funds accumulated by the budgetary system;
3) funds from off-budget funds, primarily social ones.
However, due to the lack of accurate statistical data, the consolidated financial balance does not include data on income and expenses of an important subject of financial resources - the household.
In recent years, the importance of profit and depreciation in the sources of financing for expanded reproduction at enterprises has increased, especially depreciation deductions, since fixed assets are revaluated annually on January 1.
At the same time, there is a process of centralization of financial resources in the budgetary system and in off-budget social funds. Today, they account for about 50% of the consolidated budget.
2. State budget, economic content and significance
State budget - this is the balance of monetary income and expenditures of the state for a certain period of time (as a rule, at the end of the calendar year).
Formation of the budget is directly related to the development of national income and its redistribution. The main financial methods for the redistribution of national income are:
the formation and use of cash savings (profits, value added tax, payments to social extra-budgetary funds);
organization of taxes;
financing of branches of the national economy;
formation and use of public consumption funds, insurance and reserve funds.
In all these processes, the budget plays an important role. With the help of the budget, state and territorial authorities receive financial resources for the maintenance of the administrative apparatus, the army, the implementation of social events, the implementation of economic challenges, i.e. to perform the functions assigned to them.
At the same time, the budget is legitimately regarded as an economic category that expresses certain economic relations. The state uses the budget as one of the main instruments for ensuring both its own activities and as an important instrument for pursuing economic and social policy.
The budget performs the following tasks :
1) redistribution of national income;
Distribution the function of the budget is manifested through the formation and use of centralized funds of funds at the levels of state and territorial power and administration. IN developed countries through the budgets of different levels, from 30% to 50% of the national income is redistributed. With the help of the budget, the state regulates the economic life of the country, economic relations, directing budget funds to support or develop industries and regions. By regulating economic relations in this way, the state is able to purposefully accelerate or restrain the rate of production, the growth of capital and private savings, and change the structure of demand and consumption.
Redistribution The national income through the budget has two interconnected, occurring simultaneously and continuously stages:
formation of budget revenues;
use of budget funds (budget expenditures).
2) state regulation and stimulation of the economy ;
In the course of the formation of budget revenues and the use of budgetary funds, the tasks are solved state regulation economic and social processes in the country.
Budget revenues- these are economic relations between the state, on the one hand, and business entities and citizens, on the other. At the same time, budget revenues are monetary funds at the disposal of state and local authorities.
In the process of forming budget revenues, an imperative withdrawal of a part of the national income in favor of the state takes place. On this basis, financial relations between the state and enterprises and the population arise.
The budget is actively involved in the distribution of profits of enterprises and economic organizations. There is a well-known relationship between the forms and the amount of the withdrawal of part of the profit of enterprises to the budget and the interest of the latter in the results of work. The interest of enterprises in the better use of production resources, an increase in the level of profitability and an increase in profits depends on how perfect the forms of withdrawing a part of the profit to the budget are.
Budget expenditures- This is the economic relations that arise between the state, on the one hand, organizations, institutions and citizens - on the other, in the course of the use of centralized funds of funds.
By centralizing part of the financial resources in the budget, the state is able to provide monetary funds for national needs - the accelerated development of progressive sectors of the national economy, the reproduction of skilled labor, the development of science and technology, and ensuring the country's defense capability.
3) financial support of the social sphere and the implementation of social policy of the state;
Through the budget, the national income is redistributed across the territory, as well as from the production into the non-production sphere, for which, from the budget, monetary funds are created to finance the needs in the field of health care, education, culture, management, and defense.
Through the budgets, through budgetary financing, financial resources are redistributed between the branches of the production sphere for the purpose of their proportional development.
Using the budget as the main instrument for redistributing the national income, the state directs funds primarily to those sectors of the national economy and those economic regions that require priority development at this stage, i.e. through the budget, there is an inter-territorial and intersectoral redistribution of national income. Thus, the interests of the economic development of the country as a whole and the interests of the proportional development of the regions are respected.
Across the state budget funding of scientific institutions carrying out fundamental scientific research, which are the basis for the development of applied science and the creation of new technology... This ensures the development of the country's productive forces. All this makes it possible to coordinate the economic life of the state, rationally allocate monetary and material resources throughout the national economy, contributes to technical progress and enhances the economic potential of the state.
An important role in local economic and cultural development is played by budgetary regulation... With the help of it, inter-territorial distribution of funds is carried out on a large scale, the provision of the necessary sources of income to regional and local budgets, which are the financial base of territorial authorities, and thereby strengthens their connection with the entire economy of the country.
The role of the budget in the non-production sphere is great, where it is the main source of funding... It is through the state budget that funding for social and cultural events, management and defense comes. Funds mobilized through the state budget are of paramount importance for the formation and distribution of public consumption funds (over 86% of the total amount of public consumption funds). As you know, the main form of distribution of the consumption fund of the national income is distribution according to work. However, along with it, there are social consumption funds, which are intended to jointly meet the needs and support of disabled members of society, i.e. consumption in the field of public education, health care, social security, housing, etc.
All budget items are drawn up on the basis of the national economic plan, and all expenditures are made in strict accordance with the plan. In turn, budget planning has an active impact on national economic planning.
4) control over the formation and use of centralized funds of funds.
Finally, budgets fulfill control a function that assumes the possibility and responsibility of state control over the receipt and use of budgetary funds.
Thus, the state budget, being the main financial plan of the state, gives the authorities a real economic opportunity to exercise power. The budget reflects the size of the financial resources required by the state and thereby determines the tax policy in the country. The budget fixes specific areas of spending, redistribution of national income and gross domestic product, which allows it to act as an effective regulator of the economy and social processes in the country.
List of used literature
1. Finance: Textbook / Ed. L.A. Drobozina. - M .: UNITI, 1997.
2. Enterprise Finance: Textbook / Ed. N.V. Kolchina. - M .: UNITI, 2001.
3. Finance. Money turnover. Credit: Textbook / Ed. prof. G.B. Pole. - M .: UNITY-DANA, 2nd ed. 2001.
4. Finance. Textbook / Ed. prof. V.M. Radionova. - M .: Finance
and statistics, 2002.
5. The budgetary process in the Russian Federation: Textbook / LG Baranova, OV Vrublevskaya and others - M .: "Perspective": INFRA-M, 1998.
