Financial system (in a broad sense) is a set of financial relations and financial institutions, in the process of functioning of which state (public) finances, finances of enterprises and finances of the population (households) are formed and used. 1. The concept of the financial system of the state
Financial system (in the narrow sense) is a set of financial relations and financial institutions that ensure the formation and use of state (public) finances. Financial system (general definition) is the relationship between economic entities regarding the formation and use of funds of funds through relevant institutions, institutions on based on legally established standards
Basic principles for identifying spheres and links of the financial system: the presence of its own financial base, formed by the primary income of subjects of economic relations, the functional purpose of each link, providing financing for the costs of achieving specific goals, economic entities, the working population, the state, the unity and interaction of spheres and links, predetermined by the common source primary income (GDP) and financial policy
However, this does not exclude the presence of common features: All financial relations distribute GDP and income tax All financial relations participate in the formation of funds and their use All financial relations control and regulate the distribution process
Functions of the financial system: monetary - emission, circulation, calculations; tax (fiscal) - withdrawal of part of the product in the form of funds, i.e. filling the treasury budget - turning taxes into income, the latter into expenses control and supervisory - supervision of financial institutions of public credit - managing public debt
Historically, the initial form of financial relations is public finance, but the development of financial relations begins in the sphere of enterprises of material production, therefore the finance of enterprises in the sphere of material production is the main, basic element of the financial system, and public finance plays a leading role in the redistribution of financial resources in order to meet national needs
Financial system Centralized finance Decentralized finance state budget extra-budgetary funds state credit insurance: social personal property liability insurance business risk insurance finance of commercial enterprises extra-budgetary funds finance of non-profit enterprises finance of public associations
Financial system Finances of economic entities State and municipal finances Finances of citizens Finances of commercial organizations Finances of non-profit enterprises Finances of public organizations, foundations State budget Extra-budgetary funds State credit Finances of citizens engaged in entrepreneurial activities Finances of citizens not engaged in entrepreneurship
Finances of business entities Finances of citizens State and municipal finances Income, loans, insurance compensation Loans, Taxes, payments fees Deposits, contributions, payments, collateral Taxes, fees Payments, subsidies Interrelation of the main links of the financial system
Financial system of the Russian Federation Finance of economic entities State and municipal finance Commercial enterprises and organizations Non-profit organizations Financial intermediaries Budget system State credit Federal budget Territorial budgets of the constituent entities of the Russian Federation Budgets of municipalities Budgets: Social Insurance Fund State Employment Fund of the Russian Federation Federal and territorial compulsory health insurance fund
FINANCIAL SYSTEM OF RUSSIA Finance of economic entities of all forms of ownership of commercial enterprises in the real sector of the economy non-profit organizations Including state and municipal unitary enterprises State and municipal finance Budget system Territorial finance Federal budget Budgets of state extra-budgetary funds Regional finance Municipal finance Subject budgets RF Budgets of territorial state extra-budgetary funds Budget of the Pension Fund Budget of the Social Insurance Fund Budget of the Federal Compulsory Medical Insurance Fund Local budgets State government and municipal credit State debt Federal Municipal Subjects of the Russian Federation Insurance Property Personal Liability insurance Securities market (stock market) National stock market Market for corporate securities Market for state and municipal securities Issued by the Federal Center Issued by authorities of constituent entities of the Russian Federation Issued by local and authorities Budgets of Territorial Compulsory Health Insurance Funds
3. Characteristics of the main areas and links of the financial system State and municipal finance is a set of monetary relations that arise in real money turnover between state and municipal government bodies and other economic entities, in the process of which the formation and use of centralized monetary funds to finance the expenditure obligations of the state takes place and municipal formation
The state budget is the main link of the financial system. It is a form of formation and use of a centralized fund of funds to ensure the functions of public authorities. Extra-budgetary funds are funds of the federal government and local authorities associated with the financing of expenses not included in the budget. State and municipal finances:
Finance of economic entities is a monetary relationship associated with the formation of cash income, receipts and savings of economic entities and their use to finance the costs of expanded reproduction or provision of services, for material incentives for workers, and the fulfillment of obligations to the state, individuals and legal entities.
Finance of commercial organizations and enterprises - economic relations that arise in the process of forming production assets, production and sale of products, formation of their own financial resources, attracting external sources of financing, their distribution and use Finance of non-profit organizations - these are relations associated with the formation and use of financial resources of organizations to achieve the goals of activity provided for in the organization’s charter
Depending on the economic policy implemented by the state, the financial system of a society may have the following type: banking type - the main part of the country’s income is redistributed through the loan capital market. It is characterized by the fact that, accumulating a significant part of the free financial resources of legal entities. and physical persons, banks already distribute them on their own behalf using lending or direct investment mechanisms, including through transactions on the stock market 4. Types of financial systems
Market type - a similar role in the redistribution of income is played by the stock market; budget type - the bulk of national income is centrally redistributed by the state through a system of budgets and extra-budgetary funds. Characterized by severe tax pressure and a high share of state ownership in the economy
Trust management
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Modern economics
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General theory of finance
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The essence and functions of finance
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Financial management
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Financial planning
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Financial and economic activity plan
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Financial control
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Bankruptcy of financial organizations
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Legal liability
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Financial right
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Financial and banking law
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Financial and economic law
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Leasing
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Leasing risks
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Leasing in Uzbekistan
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This presentation presents the concept of finance, its main functions, and the structure of the financial system in a concise and visual form.
The presentation is intended for use in a lesson in the discipline “Finance, money circulation and credit.”
The presented information, diagrams, pictures contribute to the study of the material and allow students to expand their understanding of the topic being studied.
The presentation can be used by students for independent preparation.
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The essence of finance, its functions and role in the economy. Structure of the financial system
Department of Education, Science and Youth Policy of the Voronezh Region State Budgetary Educational Institution of Higher Education “Ostrogozh Multidisciplinary College” PRESENTATION on the topic “The essence of finance, their functions and role in the economy. Structure of the financial system" in the discipline "Finance, monetary circulation and credit" Specialty 02/38/01 Economics and accounting (by industry) Considered at a meeting of the cycle commission of economic, accounting and legal disciplines Minutes No. 3 of 10/03/2016 Chairman Chalaya E.V. Developer Evsyukova T.A. Ostrogozhsk 2016
ABSTRACT This presentation presents the concept of finance, its main functions, and the structure of the financial system in a concise and visual form. The presentation is intended for use in a lesson in the discipline “Finance, money circulation and credit.” The presented information, diagrams, pictures contribute to the study of the material and allow students to expand their understanding of the topic being studied. The presentation can be used by students for independent preparation. The purpose of the lesson is to study the essence of finance, the financial system of the Russian Federation, its main links and their interrelation.
Finance originated with the advent of the state, therefore the essence of finance, the patterns of its development, the role and scope of financial relations are determined by the social economic system, the nature and functions of the state. The term "finansia" arose in the 13th-15th centuries. in the trading cities of Italy and at first denoted any monetary payment. Subsequently, it gained international distribution and began to be used as a concept associated with the system of monetary relations between the population and the state that arise in the process of forming state funds of funds. Finance as an economic category
Finance is a system of relations regarding the distribution and use of special funds of funds (financial resources). Monetary relations arise between the following economic entities: the state and legal entities and individuals; individuals and legal entities; legal entities; o individual individuals; about individual states.
The main links of the financial system: Finance of business entities is the financial relationship between legal entities and the state. The main indicator of the state of such relations is the profit and loss account of individual economic entities. The income part of the population's finances is formed by the primary income of families, expenses. Part – all expenses and savings of the population. Public finances form the central part of the entire financial system, and the leading link in the state’s finances is the country’s state (federal) budget (state income and expenditure plan). It is with its help that the state carries out territorial and intersectoral distribution and redistribution of gross domestic product.
Finances of economic entities Finances of the population State and municipal finances Deposits, fees, payments, collateral Income, loans, insurance compensation Taxes, fees Payments, subsidies Loans, payments Taxes, fees Interrelation of the main links of the financial system
Functions and role of finance The distribution function of finance is expressed in the division of the gross national product between participants in the process of material production, sectors of the national economy, and budgets of various levels. The stimulating function of finance is that the state, with the help of a whole system of financial levers (distribution of cash income; prices and tariffs; taxes, etc.) can influence the development of enterprises and industries in the direction desired by society. The basis of the control function of finance is monitoring (supervision) of cash flows. The degree and depth of the control function is largely determined by the state of financial discipline in the national economy.
Financial resources Financial resources are monetary income, savings and receipts at the disposal of a business entity, the state or citizens and intended for them to fulfill financial obligations, carry out economic, social and other functions. For example, for enterprises of various forms of ownership, the initial source of resource formation is the initial capital, expressed in authorized, deposit, and share capital. Subsequently, in the course of their economic activities, financial resources are formed in three important areas: with private and equivalent funds (profit, depreciation charges on fixed assets and intangible assets, proceeds from the sale of disposed property, targeted revenues, etc.); m accumulation of resources in financial markets (issue of shares, bonds, attraction of loans, etc.); n flow of financial resources through the budget and credit system.
Financial system and its links The financial system is a set of links in financial relations and elements of public finance that operate in close cooperation with credit institutions. Each link of the financial system has its own specific functions and serves a specific group of financial relations in the state. The presence of links in the financial system is determined by the existence of independent economic entities participating in economic activities: the State; Region; Economic entity – a commercial enterprise, non-profit organization, financial intermediary; Citizen (individual) – manufacturer, entrepreneur, intermediary, seller, buyer, etc.
Structure of the financial system of the Russian Federation Centralized finance: State (federal) budget; State extra-budgetary funds; State credit; Territorial (regional) finances; Local (municipal) finance Decentralized finance: Finance of organizations; Insurance finance (personal insurance; risk insurance; liability insurance; property insurance); Public finances
The structure of the financial system according to the main forms of organization: national finances and finances of economic entities. Finances of economic entities - finances of commercial enterprises, non-profit organizations and financial intermediaries (credit, insurance organizations, private pension funds). They serve the process of creation and distribution of social product and national income. It is in this link of the financial system that the main part of income is formed, which, as a result of redistribution according to the rules established by the state, forms the income of budgets of all levels, as well as extra-budgetary funds. However, a significant part of budget funds in the form of budget loans, direct budget financing, and state guarantees is used to finance the current and investment activities of enterprises.
Formed from tax, customs and other payments; d income from the placement of public financial resources; income from the sale (privatization) of state property or from leasing it, etc. are used to finance social, managerial, law enforcement, defense production tasks. Under national (centralized) finance we mean the accumulation of funds at the disposal of the state, which
Questions for consolidation What is “finance”? Name the economic entities between which monetary relations arise. What are “financial resources”? What is the financial system? Give examples of the relationship between the main links of the financial system. What is the distribution function of finance? What is “public finance”?
Homework 1. Review the material studied using the lecture notes and textbooks on the topic “The essence of finance, their functions and role in the economy. Structure of the financial system": Yanin O.E. Finance, money circulation and credit: textbook. for students institutions prof. education / O.E. Ioannina. – M.: Publishing Center “Academy”, 2013. – P. 39-43. Perekrestova L.V. Finance and credit: textbook. aid for students avg. prof. textbook institutions / L.V. Perekrestova, N.M. Romanenko, S.P. Sazonov. – M.: Publishing Center “Academy”, 2013. – P. 35-51. 2. Complete tasks to consolidate the studied material: Perekrestova L.V. Finance and credit: workshop: textbook. aid for students avg. prof. textbook institutions / L.V. Perekrestova, N.M. Romanenko, E.S. Starostina. – M.: Publishing Center “Academy”, 2013. – P. 33-35.
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The financial system is a set of separate but interconnected spheres and links of financial relations associated with the formation and use of centralized and decentralized funds of funds of the state and enterprises
Financial system and financial apparatus The concept of “financial system” includes financial relations. The concept of “financial apparatus” is part of the national administrative apparatus, which is entrusted with managing the financial system. The financial apparatus is only part of the financial system.
Financial system Finances of economic entities State and municipal finances Finances of citizens Finances of commercial organizations Finances of non-profit enterprises Finances of public organizations, funds State budget Extra-budgetary funds State credit Finances of citizens engaged in entrepreneurial activities Finances of citizens not engaged in entrepreneurship
Financial system Centralized (national) finance Decentralized finance Budget State credit Extra-budgetary state funds Federal budget Regional budgets Municipal budgets Pension Fund Social Insurance Fund Compulsory Medical Insurance Fund Finance of the credit and banking system Finance of insurance companies Finance of enterprises Finance of commercial enterprises Finance of non-profit their organizations
Composition and structure of the financial system. According to indicative data from the consolidated financial balance sheet, centralized financial resources currently account for about 60%, and decentralized financial resources account for about 40%.
Financial system. Spheres Levels Public finances Municipal finances Finances of organizations Finances of intermediaries Extra-budgetary funds of the State N u m b u g e t G o u m e n t C r o n t i n g gov ernment debt B u d g e t T MUNICIPAL EDUCATION MUNICIPAL DEBT COMMERCE e c h o r g a n i z a t i o n s F inance of insurance companies F inance of credit organizations F inance INVESTMENT FUNDS FINANCES OF NATIONAL PENSION FUNDS
Public finance is a system of monetary relations associated with the formation and use of monetary funds necessary for the state to perform its functions. The task of public finance is to concentrate financial resources at the disposal of the state and direct them to finance national needs. The financial resources of the state are formed through: taxes; fees; state fees; amounts received from the buyout of state-owned enterprises; income from enterprises and economic entities owned by the state, etc.
State budget Federal, regional and local budgets are a form of formation and use of centralized funds of funds necessary to ensure the functions of the state and local governments.
State extra-budgetary funds are funds of funds formed outside the budget and intended for the implementation of the rights of citizens in the field of social and medical security
State credit reflects credit relations associated with the state's mobilization of temporarily free funds of enterprises, organizations and individuals on the terms of repayment, urgency and payment to finance government expenditures. State loan borrowers are legal entities and individuals. Lenders of the state loan are the state represented by its executive authorities.
Decentralized finance is the finance of the credit and banking sector, insurance companies, commercial enterprises, non-profit organizations and households. form the basis of the financial system, since the predominant part of the country’s financial resources is formed in the sphere of material production. They combine the finances of enterprises (organizations) and household finances.
Organizational finance is monetary relations associated with the formation of cash income, receipts and savings from commercial and non-profit organizations and their use to finance the costs of expanded reproduction or provision of services, for material incentives for workers, and the fulfillment of obligations to the state, individuals and legal entities.
Finances of organizations In the financial system of the Russian Federation, finances of organizations occupy a central place, since they are the main sources of financial resources of the state, act as the basis for primary distribution and the initial impetus for the formation of financial flows (payments to suppliers, payment of wages to employees, payment of taxes to the budget) .
The finances of commercial organizations are formed from their own cash income and savings. The provision of national monetary funds with financial resources significantly depends on their financial condition.
The finances of non-profit organizations take an indirect part in reproduction processes, since the goals of their functioning are not directly related to making a profit. are formed from voluntary contributions, proceeds from founders, and budget funds.
Finance of public associations is a link in the financial system, formed from voluntary associations of citizens on the basis of their common interests to satisfy spiritual or other non-material needs.
The finances of insurance companies are a link in the financial system that provides coverage for possible losses in the event of unfavorable events - insured events.
The finances of investment funds are created by raising funds through the issue of their own shares, by investing their own funds in securities of other issuers, and by trading securities
Finances of non-state pension funds Formed through contributions from individuals and legal entities. Non-state pension funds are a system of pension funds designed to pay additional pensions.
Household finance is a system of monetary relations associated with the formation of household financial resources from all sources of their income and the expenditure of funds for necessary needs. are important in regulating the country's effective demand and in creating GDP. A certain part of the generated GDP in the form of goods and services passes through the family budget. The higher the income of members of a society, the higher its demand for produced material assets, the more stable the economic position of the enterprise.
Interrelation of the main links of the financial system Finance of business entities Finance of citizens State and municipal finance Deposits, contributions, payments, pledges Taxes, fees Income, loans, insurance replacement, loans, taxes, payments, fees Payments, subsidies
A household is an economic unit consisting of one or more individuals that supplies the economy with resources and uses the money received for them to purchase goods and services that satisfy the material needs of the person.
Financial policy is a set of state measures to organize financial relations, mobilize financial resources, their distribution and use for the implementation of the state program of economic and social development. The goal is to create financial conditions for the socio-economic development of society, improve the level and quality of life of the population
Principles of formation: development of a scientifically based concept of financial development; concentration of part of the financial resources in centralized state funds; determination of the main directions of use of state financial resources; implementation of practical actions aimed at achieving set goals, determining the financial impact on economic development.
Types of financial policy Classical Planned-directive Regulatory Complete freedom of market relations, non-interference of the state Strict implementation of planned indicators for economic development State intervention in the cyclical development of the economy with the help of financial investment funds
The modern financial policy of the Russian Federation is aimed at creating a new model of economic growth, achieving long-term balance and stability of the budget system. The policy of economic growth is ensured by significant government investments in the economy, a reduction in the tax burden, an optimal level of bank rates, and increased employment, which should contribute to an increase in GDP and national income. The stabilization policy is aimed at maintaining stable prices, currency stability, the absence of budget deficits, preventing unemployment and curbing the inflation process.
Elements of modern financial policy: budgetary, monetary, investment, financial (tax), insurance, currency, price, social policy, policy in the field of public debt and customs.
Budget policy Objectives: 1) Using the budget as one of the most important tools for stimulating the economy during the period of recovery from the crisis. 2) Ensuring medium- and long-term macroeconomic and fiscal sustainability. 3) Increasing the efficiency of budget expenditures. 4) Increasing the efficiency of the tax system. 5) Creation of a pension system that provides a decent standard of living for pensioners. 6) Development and implementation, together with the Bank of Russia, of measures to maintain the stability of the banking system.
Monetary policy: turning the interest rate into the main instrument of monetary policy, increasing the efficiency of investing government reserves through Russian financial institutions, bypassing foreign intermediaries, introducing the practice of lending to foreign countries, including members of the CIS and Eastern European countries, in rubles, encouraging the transition of state-owned companies to payments in rubles for export deliveries.
Tax policy Goals: Reducing and structural equalization of the tax burden, Simplifying the tax system, Optimizing the taxation of foreign trade transactions, tax incentives for innovation, Improving tax administration, Anti-crisis tax incentive measures.
Investment policy: effective use of domestic investment resources, increasing support for lending and investment programs for small and innovative businesses, improving the quality of investment management at all levels
Insurance policy is aimed at developing measures to meet the needs for insurance protection of the population, organizations, and the state and provides for the implementation of the main tasks: - formation of the legislative framework for the insurance services market, - development of compulsory and voluntary types of insurance; -creation of an effective mechanism for state regulation and supervision of insurance activities; — gradual integration of the national insurance system with the international insurance market.
Monetary policy is a set of measures carried out by the state in the field of currency relations. The purpose of monetary policy is to influence exchange rates and foreign exchange payments. The main objective of monetary policy is to consistently reduce the Bank of Russia's intervention in exchange rate formation and create conditions for the transition to a floating exchange rate regime.
Pricing Policy According to the Pricing Policy, the state does not interfere in the area of pricing of enterprises. However, there are natural monopolies whose tariffs are regulated by the state: RAO UES of Russia, Gazprom, etc., as well as essential products. The purpose of price regulation is to provide consumers with goods and services of natural monopolies and public utility organizations of established quality at an affordable price.
Policy in the field of public debt is aimed at strengthening the position of the Russian Federation as a borrower, ensuring guaranteed access to international financial markets on favorable terms, reducing the debt burden on the budget, optimizing the debt structure, and a positive impact on the macroeconomy.
Social policy: increasing funding for regional employment measures, measures to support medicine (priority national project “Health”), development of education (project “Education”), development of science (programs aimed at supporting high-tech industries, primarily within the framework of the development of space and nuclear complexes), reforming the pension system and helping socially vulnerable segments of the population.
Customs policy The main directions of customs and tariff policy in the Russian Federation are: increasing the efficiency of the import customs tariff due to its differentiation by introducing automatic regulators of the level of duty rates (“price” and “quality”) for certain types of products; reduction of import duties on technological equipment that is not produced by the Russian Federation; abolition of export duties on highly processed products; improving the mechanism for quotas on imports of meat and poultry; expansion of forms of state support for the export of Russian goods and services that do not contradict the terms of the WTO. Facts about the world and the world about the world ê è â Ðîññè è
State financial management bodies (financial apparatus) President of the Russian Federation; Federal Assembly of the Russian Federation: Federation Council and State Duma; Ministry of Finance of the Russian Federation; The Federal Tax Service; Federal Insurance Supervision Service; Federal Service for Financial and Budgetary Supervision; Federal Service for Financial Monitoring;
Government financial management bodies Federal Treasury; Federal Customs Service; Federal Service for Financial Markets; Accounts Chamber of the Russian Federation
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Lesson plan: 1. Concept and objectives of public financial control; 2. Types and bodies of public financial control; 3. Methods of financial control. Ch.4 par.3 textbook. M.V. Karaseva; Article 267.1 of the Budget Code of the Russian Federation.
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1. The concept and tasks of public financial control Public financial control is the activity of authorized bodies, which is aimed at verifying the legality and effectiveness of financial transactions in the field of financial activities of the state and municipalities. Public financial control can be preliminary and subsequent (see Parts 4 and 5 of Article 265 of the Budget Code of the Russian Federation). There is a legal problem in the field of financial control: the system of control bodies is too branched and confusing. In addition, the powers of regulatory authorities are not clearly defined and are regulated in different regulations.
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2. Types and bodies of public financial control Types of public financial control State: Presidential; Legislative and executive bodies of general competence; Special executive authorities competencies; Departmental; Chief administrators; Accounts Chamber. Municipal: Carried out by representative and executive bodies of local self-government. On-farm: Conducted by state accountants. and municipal enterprises. Audit: Only mandatory audit is relevant to financial statements (Federal Law No. 307-FZ of December 30, 2008 “On Auditing Activities”).
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State financial control Of great importance for the development of this type of control is the Decree of the President of the Russian Federation “On measures to ensure state financial control in the Russian Federation” dated July 25, 1996. This Decree establishes that in the Russian Federation state control includes: control over the execution of federal. budget and federal budget. off-budget funds, organization of monetary circulation, use of credit resources, state of state internal and external debt, state reserves, provision of financial and tax benefits and advantages. At the same time, in accordance with the delimitation of functions and powers established by the legislation of the Russian Federation, specific subjects of state financial control are indicated: the Accounts Chamber of the Russian Federation, the Central Bank of the Russian Federation, the Ministry of Finance of the Russian Federation, the Federal Customs Service of the Russian Federation, control and audit bodies of federal executive authorities, other bodies exercising control over receipts and spending of federal budget funds and federal extra-budgetary funds.
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Municipal financial control According to Art. 265 of the Budget Code of the Russian Federation, legislative (representative) authorities and representative bodies of local self-government exercise financial control in the following forms: preliminary control - during the discussion and approval of draft laws (decisions) on the budget and other draft laws (decisions) on budgetary and financial issues; current control - during the consideration of individual issues of budget execution at meetings of committees, commissions, working groups of legislative (representative) bodies, representative bodies of local self-government, during parliamentary hearings and in connection with parliamentary requests; subsequent control - during the review and approval of reports on budget execution. To exercise control powers in the financial sphere, local government bodies are endowed by law with the appropriate rights, the most important of which are: to receive from executive authorities and local government bodies the accompanying materials necessary for approving budgets; receive operational information from the relevant authorities about their implementation and evaluate the activities of these bodies; approve or reject the budget execution report; establish their own control bodies to conduct external audits of the budget.
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On-farm financial control is carried out within the framework of a separate business entity on its initiative or the body that manages the existing economic, financial and legal services. Its main purpose is to assist management or governing body in the efficient conduct of financial activities. Performs informing and preparatory functions. Based on the results of the audit, the services conducting internal control compile and present to management (management body) data based on the results of the audit. Based on the information received, the owner of the inspected object takes measures to improve the efficiency of financial and economic activities, eliminate or prevent violations of financial discipline, and attract (if necessary) other controlling entities. Internal control is especially necessary before a mandatory financial audit, since it allows, on its own and at the expense of its own funds, to timely identify and eliminate financial violations, as well as prepare the necessary documentation for state (municipal) control bodies.
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Audit financial control Audit control (audit) is an independent non-departmental financial control carried out by an audit firm licensed to carry out auditing activities. Depending on who exercises control, auditing is divided into internal and external. Internal audit is carried out by the company's internal audit service and is aimed at increasing the efficiency of management decisions on the economical and rational use of the organization's resources in order to maximize profits and profitability. As for the external audit, it is performed by special auditing firms or individual auditors under an agreement with the tax inspectorate and other authorities, banks and other credit institutions, insurance companies, etc. May be mandatory or voluntary. The following are subject to mandatory audit: all joint stock companies; banks and other credit institutions, insurance organizations and mutual insurance societies, commodity and stock exchanges, investment institutions, off-budget and other funds; economic entities that have a share of foreign capital in their authorized capital; and so on. Audits are also required on behalf of government agencies.
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3. Methods of financial control (chapter 4, paragraph 3, textbook by M.V. Kasaseva; article 267.1 of the Budget Code of the Russian Federation) Checking is one of the main methods of financial control. control; provides for the study of a certain range of issues in order to identify financial violations. legislation. An audit is a comprehensive audit aimed at studying financial economics. activities of enterprises, organizations, institutions, entrepreneurs, etc. Survey is one of the main methods of preliminary financial. control; aimed at studying individual aspects of financial economics. activities. Expertise – carrying out special research into the actual volumes and directions of financial movement. funds in order to identify the feasibility, rationality and effectiveness of financial. operations and finance activities of the controlled entity for the audited period.
