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Rodionova Vera Mikhailovna(1964-1967) - Honored Scientist of the Russian Federation, Doctor economic sciences, Professor. In 1950 she entered the MFI at the Faculty of Finance and Economics. In 1954 graduated from Moscow financial institution majoring in Finance. He has been working at our university since 1957: first as an assistant, then as a senior lecturer (1961), associate professor (1965), professor (1987) of the Department of Finance. In 1961-1964. – Deputy Dean of the Faculty of Finance and Economics; 1964-1967 – Dean of the Faculty of Credit and Economics. From 1989 to 2004 - head. Department of Finance. Currently Vera Mikhailovna is the director of the Center budget policy, conducts large-scale research on the problems of improving public finances, reforming budget system Russia, development of state off-budget funds. Since 1963 V.M. Rodionova participates in the preparation of textbooks and teaching aids on finance, industrial finance, and the country's budget system. Under her leadership, textbooks for universities on finance, budget and budget system were prepared and published. Vera Mikhailovna Rodionova is a recognized scientist, the author of in-depth scientific research on the theory of finance and the development of the Russian budget system. He is the author and executive editor of the “Article-by-article scientific and practical commentary on Budget Code RF" (2001), author and head of the "Budget" section in the "Financial and Credit Encyclopedic Dictionary" (2002), volume 5 of the "Encyclopedia market economy"(2003), scientific collections on the problems of fiscal federalism (2002) and improving the budget system Russian Federation(2003). Actively participates in the examination of draft legislative acts submitted for consideration to the Federal Assembly of the Russian Federation, as well as in the development of new regulations governing the construction and functioning of the Russian budget system. The total volume of publications is over 250 pp. She made a great contribution to the training of scientific personnel: under the leadership of Vera Mikhailovna, 32 candidates and 3 doctors of economic sciences were trained. She is a member of the Academic Council of the Financial University and the dissertation council in the specialty 08.00.10 - Finance, money circulation and credit (economic sciences), in which she has been actively working for more than 30 years. Member of the editorial board of the Finance magazines (for more than 20 years) and the editorial board of the Finance and Credit magazine. V.M. Rodionova was awarded two medals, the “Excellent Achiever” badge high school", is an honorary professor of Michurinskaya State Academy. In 2002, for her services in the field of education, she was awarded the title “Honorary Worker of Higher Education.” vocational education Russian Federation".

Introduction

Finance – is a system of economic relations that arise between the state, legal entities and individuals, between individual states regarding the formation, distribution and use funds Money. In other words, monetary relations, the implementation of which occurs through special funds, are financial relations.

It is believed that the concept financial system is a development of a more general definition – finance. At the same time, as noted earlier, finance expresses economic social relations. In systems theory and management system they name what solves the problem. The problems of modern society that the financial system is designed to solve include:

insufficient rates of economic development;

disproportions in the development of the economic system;

lag in adaptation to changes in external commodity and financial markets;

excessive social tension, which negatively affects the reproductive process;

low level of satisfaction of the individual's needs, etc.

We will consider the financial system as a form of organizing monetary relations between all subjects of the reproduction process for the distribution and redistribution of the total social product.

The topic of the course work is very relevant for today. A reliable financial system is the core in the development and successful functioning of a market economy and a necessary prerequisite for the growth and stability of the economy as a whole.

This system is the basis that mobilizes and distributes the savings of the society and facilitates its daily operations. Therefore, while the structural transition from a largely centrally planned and controlled economy to one operating according to market principles involves many elements, the most important is the creation of a sound financial system. Once a sound financial system is in place, money and capital markets, especially primary and secondary markets for national government securities, can develop. IN last years

A significant number of publications are devoted to the issues of creating a reliable financial system and implementing state financial policy. However, unity on the theoretical aspects of this issue has not been achieved. Thus, Western major economists do not give a clear definition of financial policy. S. Fischer, R. Dornbusch and R. Schmalenzi do not distinguish financial policy as an independent concept. At the same time, they approach the study of this topic by expanding the definition fiscal policy . Some other representatives of foreign countries view this problem in a similar way. economic schools . In particular, K. R. McConnell and S. L. Brew combine the concepts of fiscal and fiscal policy, defining them as changes made by the government in the order government spending and taxation aimed at ensuring full employment

and non-inflationary national product.

Finance: Textbook / ed. Kovaleva V.V., “Prospect”, M., 2001.

Finance: Textbook / ed. Kovaleva V.V., “Finance and Statistics”, M., 1998. Marxists see under financial policy

first of all, a set of government measures to stabilize financial resources, their distribution and use for the state to carry out its functions, indicating that the social orientation and effectiveness of the impact of financial policy on the development of productive forces and production relations are determined by the objective laws of economic development and the socio-political system of the country. The purpose of the course work is to reveal the essence and structure of the modern financial system in and trends in its development. The course work defines the following tasks:

disclosure of the main areas and links of the financial system;

consider the meaning and essence of the state budget;

consideration of the main link of the financial system – state budget using the example of the Russian Federation;

identify the main functions performed by enterprise finance;

draw appropriate conclusions based on data on the dynamics of federal budget revenues and expenditures.

Information used. When writing the work, the following sources of information were used:

monographic articles;

textbooks and teaching aids;

periodicals;

World Wide Web.

1.Economic foundations for building the state’s financial system.

Having in mind the financial system, the entire set of financial relations is considered as a system in which individual areas and links of financial relations are distinguished.

9.Finance: Work program / ed. Filina A.G., "MGTA", Moscow, 2002.

By definition, a financial system is a set of financial relations. By their nature, financial relations are distributive, and the distribution of value is carried out primarily among subjects. Subjects form funds for special purposes depending on the role they play in social production: whether they are direct participants, whether they organize insurance protection or carry out government regulation. It is the role of the subject in social production that acts as the first objective criterion for the classification of financial relations. In accordance with it, three large areas can be distinguished in the totality of financial relations: finance of enterprises, institutions and organizations; insurance; public finance.

Within each of these areas, links are distinguished, and the grouping of financial relations is carried out depending on the nature of the subject’s activities, which has a decisive influence on the composition and purpose of target funds. This criterion allows us to distinguish in the sphere of finance of enterprises (institutions, organizations) such links as the finances of enterprises operating on a commercial basis; finances of institutions and organizations engaged in non-commercial activities; finances of public associations. In the insurance industry, where the nature of the subject’s activity predetermines the specifics of the insurance object, the links are: social insurance, property and personal insurance, liability insurance, business risk insurance. In the field of public finance - respectively, the state budget, extra-budgetary funds, state credit.

The spheres and links of financial relations are interconnected, collectively forming a single financial system.

Different parts of the financial system serve different types of financial distribution: intra-economic - by the finances of enterprises, intra-industry - by the finances of enterprises, complexes, associations, inter-industry and inter-territorial - by the state budget, extra-budgetary funds.

Each link of the financial system, in turn, is divided into sub-links in accordance with the internal structure of the financial relationships it contains. Thus, the finances of enterprises operating on a commercial basis, depending on the sectoral focus, can include the finances of industrial, agricultural, trade, transport enterprises, etc., and depending on the form of ownership - the finances of state-owned enterprises, cooperatives, joint-stock companies , private, etc. Industry and economic characteristics of enterprises operating on a commercial basis have a significant impact on the organization of financial relations, the composition of the formed funds for special purposes, the procedure for their formation and use.

In the sphere of insurance relations, each of the links, represented by a special branch of insurance, is divided into types of insurance. As part of public finance, the grouping of financial relations within units is carried out in accordance with the level of government (federal, federal subjects, local).

One of the main links in the financial system is the state budget. With its help, the government concentrates in its hands a significant part of national income, redistributed by financial methods. The largest incomes and the most politically and economically important expenses are concentrated in this link. The budget is closely connected with other parts of the financial system, acts as a coordinating center and provides them with the necessary assistance in the form of budget grants, subsidies, subventions, guarantees, ensuring more or less normal functioning of the remaining parts of the financial system.

Another important link is local finance, the role and influence of which is increasing. The central role in this link is played by local budgets, which are not part of the state budget and have a certain independence. Local budgets serve as a conductor of social policy of the central authorities.

Extra-budgetary funds are managed directly by central and, in some cases, local authorities. The most common sources of formation of these funds are taxes, deductions from the budget, and special contributions.

The spheres and links of financial relations are interconnected and together form a single financial system. The latter has the following form.

Financial system

Centralized Decentralized

finance finance

- state budget - finances of commercial enterprises

- extra-budgetary funds - finances of non-profit enterprises

- public credit - public finance

- association insurance

a) social

b) personal

c) property

d) liability insurance

e) insurance of business risks

Part I. Theory of Finance

In the modern Russian interpretation, despite some differences in the definition of finance, they all have a single concept based on the content, based on the identification of the essence of finance as a distributional cost and monetary category. The monetary nature of finance prevails, since an adequate translation of the term from various languages ​​includes the dominant word – money. So, finance: in English language(finance) – income, money; in French (finances) – cash; in Latin (financia) – cash, income.

Table 1

Definitions of finance presented in domestic literature

Definition of Finance	Source
Finance is the monetary relations that arise in the process of distribution and redistribution of the value of the gross social product and national wealth in connection with the formation cash income and savings from business entities and the state and their use for expanded reproduction, material incentives for workers, satisfaction of social and other needs of society	Finance: Textbook / Ed. V.M. Rodionova.– M.: Finance and Statistics, 1995.– P. 12
Finance is a set of monetary relations organized by the state, during which the formation and use of national funds of funds is carried out to carry out economic, social and political tasks	Finance: Textbook. allowance / Ed. A.M. Kovaleva. – M.: Finance and Statistics, 1999. – P. 4. Kovaleva A.M., Lapusta M.G., Skamai L.G. Company finances: Textbook. – M.: INFRA-M, 2000. – P. 11

Table 1 continued

Finance is a set of monetary relations that arise in the process of creating funds of funds from business entities and the state and using them for the purpose of reproduction, stimulation and satisfaction of social needs of society	Kovalev V.V. Introduction to financial management. – M.: Finance and Statistics, 1999. – P. 15
Finance is a system of economic relations associated with the formation, distribution and use of funds in the process of their circulation	Blank I.A. Basics financial management. T. 1. – Kyiv: Nika-Center, 1999. – P. 11
Finance represents economic relations associated with 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	Finance: Textbook / Ed. L.A. Drobozina. – M.: UNIT Finance, 1999. – P. 14 Finance and credit of the constituent entities of the Russian Federation: Textbook. – Kaliningrad, 1999. – P. 122
Finance is a set of monetary relations organized by the state, during which the formation and use of national funds of funds is carried out to solve economic, social and political problems	Finance, money circulation and credit: Textbook/Ed. VC. Senchagova, A.I. Arkhipov. – M.: Prospekt, 1999. – P. 27
Finance is a system of monetary relations that arise during the formation and use of funds and during the circulation of funds	Balabanov A.I., Balabanov I.T. Finance: Textbook. manual. – St. Petersburg: Peter, 2000. – P. 13

Table 1 continued

Finance is a set of economic relations that arise in real money circulation during the formation, distribution and use of funds financial resources	Babich A.M., Pavlova L.N., Finance: Textbook. – M.: Publishing House FBK-PROGRESS, 2000. – P. 15
Finance expresses a system of monetary relations regulated by the state in order to form and use funds of financial resources to satisfy various social needs	Bocharov V.V. Corporate finance. – St. Petersburg: Peter, 2001. – P. 10
Finance is a specific area of ​​economic relations determined by the movement of money. They are based on processes occurring as a result of the creation, distribution, exchange and use of gross internal product and national income	Directory of an enterprise financier. – M.: INFRA-M, 2001. – P. 11
Finance is a system of monetary value relations associated with the formation and use of monetary funds in the process of distribution and redistribution of gross domestic product	Finance, money circulation and credit: Textbook / Ed. prof. M.V. Romanovsky, prof. O.V. Vrublevskaya. – M.: Yurait-M, 2001. – P. 54
Finance is a fundamental, generalizing, multi-valued category that characterizes the processes of formation, distribution and redistribution of funds from the state, regions, economic entities, legal and individuals during the formation of their income, expenses, savings and the resulting monetary relations	Financial and credit encyclopedic dictionary / Under the general. ed. Honored Scientist of the Russian Federation, Doctor of Economics. sciences, prof. A.G. Gryaznova. – M.: Finance and Statistics, 2002. – P. 1045

Table 1 continued

Finance is a cost category... a set of monetary relations generated and regulated by the state, associated with the distribution and redistribution of the value of GDP and part of the national wealth	Finance and credit: Textbook / Ed. prof. M.V. Romanovsky, prof. G.N. Beloglazova.– M.: Yurait-Izdat, 2003.– P. 24
Finance is a set of monetary relations that arise in the process of 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	Finance and credit: Proc. allowance / Ed. prof. A.M. Kovaleva. – M.: Finance and Statistics, 2003. – P. 9
Finance is the totality of all funds at the disposal of an enterprise, the state, as well as the system of their formation, distribution and use	Dictionary of foreign words. – 15th ed. – M.: Russian language, 1995
Finance is an economic instrument for the distribution of national income, control over the formation and use of funds	Milyakov F. Finance. – M.: Infra-M, 2002
Finance is not the money itself, but the relationship between people regarding the use and distribution of money	Finance: Textbook. allowance / Ed. Vakhrina, Neshitova. – M.: Marketing, 2002

The diversity of interpretations is explained by the Russian mentality scientific school, requiring category analysis. At the same time, the Oxford Explanatory Dictionary gives a multivariate interpretation of finance, used in various situations, and reveals the content of finance as:

1) practice of handling and managing money;

2) capital involved in any project, primarily capital that needs to be obtained to start a new business;

3) a loan of money for a specific purpose, especially made by a financial company.

In general, this interpretation of finance is the quintessence of the foreign school and is used in practice. Let us undertake an analysis of the category presented in Western sources (Table 2).

As is known, in the system of economic relations, relations regulated by the state occupy a significant place. They belong to a special economic category called .

financial relations

The term “finance” originates from the Latin “financia” - cash, income. In the explanatory dictionary V.I. Dahl defined the term “finance” as “everything that concerns the receipts and expenditures of the state.”

In the Brockhaus-Efron encyclopedic dictionary, 1909. The following definition of finance is given: “finance is the totality of material resources necessary to meet the needs of the state and various public unions.”

In recent years, the vast majority of authors consider finance as an economic category that expresses the relationships that actually exist in society, however, questions about the essence and functions of finance are still controversial. :

• The whole variety of discussions about the economic nature of finance can be divided into three groups
• the first – questions of the essence of finance and the boundaries of financial relations;
• the second is discussions about the functions of finance;

the third group – questions of the subjectivity of finance, classifying this category as a base or superstructure. The educational and scientific financial literature provides various definitions of finance.

(Table 1).

Table 1 - Discussion questions about the essence of finance	Author
Definitions Kazak A.Yu., Dean of the Faculty, Head of the Department of Finance, money circulation	and credit from USUE, Doctor of Economic Sciences, Professor.
Rodionova V.M., head Department of Finance, Financial University under the Government of the Russian Federation, Doctor of Economics, Professor.	Finance is the monetary relations that arise in the process of distribution and redistribution of the value of the gross social product and part of the national wealth in connection with the formation of cash income and savings among business entities and the state and their use for expanded reproduction, material incentives for workers, satisfaction of social and other needs of society .
Sabanti B.M., academician of the International Academy of Higher Education, Doctor of Economics, professor.	Finance is a system of monetary relations regarding the formation and use of funds necessary for the state to perform its functions.
Sheremet A.D., Head of the Department of Accounting, Analysis and Audit, Moscow State University. M.V. Lomonosov, Doctor of Economic Sciences, Professor.	Finance is a system of monetary distribution relations regarding the formation and use of funds of funds, income and savings among participants in social reproduction.

Based on the first definition, Finance, as a cost economic category, has the following characteristics :

• Finance always expresses only monetary relations between various subjects of social reproduction within the framework of the economic system.
• Only those monetary relations that are conditioned by the existence of the state and the need to ensure that the latter fulfills its functions become financial.
• Financial relations are always redistributive in nature.
• With the help of finance, centralized and decentralized monetary funds (revenues) are formed and used, the expenditure of which occurs in accordance with the functions assigned to the state.

Romanovsky M.V., professor of St. Petersburg state university economics and finance, argues that the listed features characterize public finance .

He recognizes the fact that the term “finance” has gone beyond the narrow understanding only as public finance and proposes to consider this term in the broad sense of the word, as uniting two relatively independent sciences of finance - public finance and enterprise finance .

Here the second science studies the most rational forms of creation and use cash flows, funds and capital within the framework of the circulation of funds of a separate enterprise in order to ensure the interests of a relatively narrow circle of founders (shareholders), and not of society as a whole.

Considering the question of the essence of finance, it is necessary to dwell on the characteristics of its functions. In financial science, a function is most often considered as a manifestation of the essence of an economic category in action. It is from this position that the functions of finance should be considered.

In the literature, there are more than ten functions of finance, based on the proposed content of finance as an economic category. The most common functions are distribution, control, reproduction, stimulation, formation of funds of funds, redistribution, maintenance of the circulation of funds, formation of cash income and savings, use of funds of funds, regulatory, stabilization and others.

Most economists name the distribution and control functions as the most significant. For example, Rodionova V.M. highlights only these functions. Drobozina L.A. In addition to them, he also calls regulating and stabilizing. Arkhipov A.I. and Senchagov V.K. add the stimulating function of finance. Lavrushin O.I. denies the control function of finance.

Kazak A.Yu. States that Finance, as an economic category, performs the following functions .

Formation of monetary funds . Through the state tax policy(through tax legislation, according to which all taxpayers are required to pay tax payments), various monetary funds are formed: centralized (state budget), decentralized (at the regional and local levels), target funds, etc.

Use of funds . Funds accumulated by the state are redistributed in the course of implementing the policy of public expenditures for the material maintenance of the state apparatus (so that it can effectively perform the functions assigned to it), for the creation and maintenance of a rational and effective structure of social production in society, for the implementation of economic, social, military policies, etc. . This function is implemented through the expenditure side of the state budget and state extra-budgetary funds.

Control . It is implemented simultaneously with either the first or second functions. It lies in the need for state control over the accumulation and use of national funds. A specific manifestation of the control function is carried out in the course of the activities of financial bodies that implement the state’s financial policy in practice.

If we consider the presented functions as functions of public finance, then by analogy we can characterize the finance functions of an enterprise (organization).

So, finance is a complex economic category, considered in both the broad and narrow sense of the word . Moreover, this category itself is objective and exists regardless of the will of the state. The existence of finance is explained by the objective needs of society in financial relations.

Each new step in understanding the essence of any scientific concept, including the concept of “finance,” necessitates theoretical research, the absence of which leads to stagnation in the relevant branch of knowledge.

According to V.M. Rodionova, Honored Worker of the Russian Federation, Doctor of Economic Sciences, the development of the essence of finance remained at the level of understanding characteristic of domestic science in the 80s of the last century. It was then that certain progress was achieved in understanding the essence of finance, for example, finance was no longer considered as money, but was defined as economic monetary relations. But there was no consensus on the economic nature of the category of finance and its essential features.

V.M. Rodionova devoted the article “The Essence of Finance and Their Role in a Market Economy” to the problem of studying the essence of finance, which was published in the magazine “Finance” No. 6 for 2010. In his article, the author also agrees with economists that finance and money are not identical, but have a common origin. She notes that the monetary nature of finance in itself is not sufficient to characterize the essence of the economic category and reveal its specifics. Other features are also needed that reflect the specifics of finance and allow one to isolate financial relations from the entire set of monetary relations.

One of these signs is the distributive nature of finance, because financial relations, unlike other monetary ones, appear only at the second stage of the reproduction process, or rather during the distribution of value in its monetary form. Such a special place is given to the second stage because at the first and last stages (production and consumption) this process No real movement funds, therefore, they cannot be the place where financial relations arise. At the production stage, a real movement of value occurs - its sequential transition from the commodity form to the productive form, and then again to the commodity form. There is a transfer of cost to finished goods, but no real cash flow occurs. We can observe the same situation at the last stage of the reproduction process, when value is consumed in its natural material form. Following this concept, V.M. Rodionova argues that there is no validity in the claim that the essence of finance is represented as economic relations related to the creation, distribution and redistribution of the social product.

The real movement of funds occurs at the second and third stages of the reproduction process, i.e. in distribution and exchange. At these stages, the distribution of the social product is carried out in two forms: commodity and value. Moreover, the distribution of the commodity form of the social product, occurring in the third form of this process, is mediated by the distribution monetary form value that occurs in the second stage. The distribution of the monetary form of value precedes the distribution of the commodity form of the product, creating the necessary conditions and prerequisites for the movement of goods. But it can also be noted that it is impossible to attribute both stages to the sphere of the emergence of finance, because The nature of the movement of the monetary form of value at stages is different.

An important feature of finance, which distinguishes it from other distribution categories, and at the same time is a specific essential feature, is that financial relations are always associated with the formation in the hands of business entities and authorities of monetary income and savings, used for the formation of monetary funds or for expenses in non-fund form based on one-way movement of value.

The distribution and redistribution of value with the help of finance is necessarily accompanied by the movement of funds, taking the specific form of financial resources, and trade turnover is mediated in cash. Financial resources are generated by business entities and government entities at the expense of various types cash income, deductions and receipts, and are used for expanded reproduction, material incentives for workers, and satisfaction of social and other needs of society.

The real formation of financial resources begins at the distribution stage, when the value is realized and specific economic forms realized value.

The connection between cash and financial resources is similar to that between monetary and financial relations: the latter are always part of the former.

Finance actively influences the production process due to the fact that “distribution is a method, a tool, a means for increasing production” Lenin V.I. Full Collection. Soch., vol. 43, p. 359.. The influence of finance can be both quantitative and qualitative. Quantitative influence is characterized by the proportions of mobilized and used financial resources, the scale of the generated monetary funds. By changing the size of monetary funds, you can influence production in the desired direction: accelerate the development of individual structural divisions economy by creating the most favorable financial conditions, as well as somewhat slow down the pace of this growth based on the diversion of financial resources for other purposes.

The qualitative side of the influence of finance on production is associated with the transformation of forms of mobilization of financial resources, mechanisms for the formation and use of monetary funds into incentives for economic development and increasing its efficiency. An example is the establishment of the size of economic incentive funds depending on the fulfillment of municipal orders; it is possible to stimulate the production of products needed by the population. The redistribution of resources in sectoral and territorial terms creates conditions for progressive changes in the structure of production, increased investment, innovation, and increased production efficiency. This is also the influence of finance on production.

The impact of finance on social production can be carried out in three main areas, which include:

• · Financial support needs of expanded reproduction;
• · Financial regulation of economic and social processes;
• · Financial incentives for better performance.

Within the framework of these areas, it is necessary to determine and evaluate the results obtained; they reflect the role of finance in social production. This role may vary depending on changes in the real conditions in which finance operates, the directions of its impact on social production, the linkage of finance with other distribution categories, etc.

The presence of debatable problems and “blank spots” in the study of basic issues of financial science necessitate further development of theoretical problems of the essence and functions of finance. A deeper study of the economic nature of finance and its corresponding properties will allow us to more actively develop ways best use this category in practice.