Textbook finance. Finance, money circulation and credit. Tutorial. Section V. Financial planning of enterprises

4th ed., Rev. and add. - M .: 2005 .-- 384 p.

Along with the coverage of the essence and functions of finance at the level of the Russian state, the problems of financial management of enterprises are revealed. The role of profit, working capital, investment activity of enterprises in the course of deepening economic reforms in Russia is considered. Modern economic conditions have caused the need to separate into special sections the problems of financial analysis and financial strategy, as well as the financial and economic activities of financial and industrial groups (3rd ed. - 1998).

For students of higher educational institutions, graduate students studying in the specialty "Finance and Credit", students of the faculties of advanced training, as well as scientific and practical workers.

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TABLE OF CONTENTS
one . ESSENCE AND FUNCTIONS OF FINANCE OF THE RUSSIAN FEDERATION ....... 3
1.1. Stages of development of finance in Russia ........................... 3
1.2. Finance functions ................................................ ... fifteen
Control questions................................................ ... 22
2. FINANCIAL SYSTEM .......................................... 23
2.1. Formation of the financial system ......................... 23
2.2. Budget and budgetary device .............................. 31
2.3. Extrabudgetary funds ............................................. 43
2.4. Organization, functions and types of insurance ................ 64
2.5. Stock market as part of the financial system .......... 79
Control questions................................................ .... 83
3. PUBLIC DEBT MANAGEMENT ...... 84
3.1. The essence and significance of public debt ............ 84
3.2. Government securities "as a tool for government debt management ......... 89
3.3. Characteristics of certain types of government securities ........................................... 95
Control questions................................................ ... 104
4. FINANCES OF ENTERPRISES ..................................... 105
4.1. Financial relations of enterprises ....................... 105
4.2. Monetary funds of enterprises ......, ......................... 108
4.3. Cash flow management ................. 116
Control questions................................................ .. 121
5 PROFIT OF THE COMPANY. ITS PLANNING AND DISTRIBUTION ........................... 122
5.1. The role of profit in the development of entrepreneurship ........................................... 122
5.2. Factors affecting the amount of profit ................ 127
5.3. The composition of the gross profit of the enterprise .................... 135
5.4. Determination of the planned profit - the starting point of entrepreneurial activity .. 141
5.5. Distribution of profits in the context of the modern taxation system ......................... 153
5.6. The value of the net profit remaining at the disposal of the enterprise ........................................ 157
Control questions................................................ . 159
6 TAXATION OF COMPANIES .................. 160
6.1. The taxation system in the Russian Federation ... 160
6.2. Socio-economic essence of taxes ............. 166
6.3. Value Added Tax ........................... 168
6.4. Excise taxes ................................................. ........... 180
6.5. Corporate income tax .............................. 183
6.6. Property tax of enterprises of the Russian Federation ............................................ ................... 191
6.7. Other taxes paid by businesses ........... 196
6.8. Simplified taxation system for small businesses ..........., .......................... 199
Test questions .............................................. 203
7 FINANCIAL PROBLEMS OF FORMATION AND USE OF CURRENT CURRENT CAPITALS OF ENTERPRISES .. 205
7.1. The economic essence of the working capital of enterprises ............................................. ................. 205
7.2. Organization of working capital of enterprises .......... 209
7.3. Determination of the needs of enterprises in working capital ............................................ ................. 214
7.4. Sources of formation of working capital ........... 223
7.5. Efficiency of using working capital ..... 227
Control questions................................................ . 231
8 INVESTMENT POLICY OF ENTERPRISES .............................................. ....... 233
8.1. Principles for the implementation of investment activities .............................................. ..................... 233
8.2. Sources and methods of investment "...................... 239
8.3. The role of the business plan in the evaluation of investment projects .......................................... .................... 248
Test questions ............................................... 256
9. FINANCIAL ASPECT OF DRAFTING A BUSINESS PLAN .......................................... ........................ 257
9.1. The concept of a business plan, its scope and development conditions ....................................... ................ 257
9.2. Financial aspects of the development of sections of the business plan of the enterprise .......................................... ........ 263
Test questions ............................................... 275
10. FINANCIAL PROBLEMS AND INSOLVENCY (BANKRUPTCY) OF ENTERPRISES ......., .................. 276
10.1. Financial reasons for the emergence and indicators of insolvency of enterprises ............................ 276
10.2. Directions of the financial recovery of the enterprise .............................................. ............ 288
Test questions ........., ..................................... 293
11. FINANCIAL ANALYSIS AND FINANCIAL STRATEGY OF THE ENTERPRISE ................................... 294
11.1. Financial analysis at the enterprise ....................... 294
11.2. The financial strategy of the enterprise ........................ 321
Control questions................................................ .329
12 FEATURES OF FINANCE OF A JOINT STOCK COMPANY ............................................. .............. 331
12.1. Principles of creation and activity of a joint-stock company, the role of finance .................................... 331
12.2. Capital, profit and funds of a joint-stock company ........................................... .............. 335
12.3. Securities of a joint-stock company .................. 340
12.4. Register of shareholders of a joint-stock company ............. 352
12.5. Financial issues of reorganization and liquidation of a joint stock company ...................................... 355
Test questions .............................................. 360
13. FINANCIAL AND INDUSTRIAL GROUPS .......... 361
13.1. The economic content of the creation of financial and industrial groups in Russia ............................ 361
13.2. Development priorities and state support for financial and industrial groups ........................ 369
13.3. Financial and economic aspects of FIG's activities ............................................ ....................... 371
Test questions .............................................. 376
Literature................................................. ............................. 377

The textbook, based on the materials of the Ministry of Economic Development of Russia, the Ministry of Finance of Russia, financial and tax authorities of the constituent entities of the Russian Federation, the practice of financial activities of organizations and institutions, examines the content and functions of finance, their role in macro regulation of the economy, tax regulation and much more. The content of finance, their role in ensuring economic growth and the implementation of social policy are revealed. Special attention is paid to a new understanding of the theory and practice of public finance management in the modern period of development of market relations in Russia. After studying this course, the student will have mastered not only the conceptual apparatus in the field of the theory of finance and institutions of the financial system, the provisions of regulatory legal acts regulating public and private finance, but also modern tools for analyzing the structure and dynamics of debt obligations of public law entities, the skills of using market tools securities, methods of transactions in the international money and capital market. After each chapter there are self-check questions and recommended reading.

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The course "Enterprise Finance" is one of the central among the special disciplines of financial specialties and specializations of higher education institutions. This textbook is written in accordance with the course program, which includes lectures, practical exercises, students' implementation of a course project, passing a test and an exam.

The peculiarity of this course is. what it unites, ties other financial disciplines together. Therefore, it is so important that every financier knows at least the basics of enterprise finance.

The purpose of the textbook is to reveal the essence of enterprise finance, to show their role and place in financial science, to consider the essence of financial relations, funds and cash flows. Currently, corporate finance is affected by serious problems in the Russian economy. The textbook shows most of these problems and their negative impact on financial relations.

Section I. The essence and organization of enterprise finances

Chapter 1. ESSENCE OF ENTERPRISE FINANCE

Chapter 2. MONETARY FUNDS OF THE ENTERPRISE AND FINANCIAL STRUCTURE OF CAPITAL. FINANCIAL LEVER

Chapter 3. CASH FLOW MANAGEMENT

Chapter 4. FEATURES OF FINANCES OF DIFFERENT FORMS OF COMMERCIAL ORGANIZATIONS

Section II. Financial management of enterprises

Chapter 5. MANAGEMENT OF WORKING EQUIPMENT OF ENTERPRISES

Chapter 6. MANAGEMENT OF RECEIVABLES OF THE ENTERPRISE

Chapter 7. NON-CURRENT ASSETS AND AMORTIZATION POLICY OF ENTERPRISES

7.4. Depreciation policy of enterprises

Chapter 8. INVESTMENT POLICY OF ENTERPRISES

Chapter 9. FINANCIAL INVESTMENTS OF ENTERPRISES

9.3. Portfolio of securities

Chapter 10. FINANCIAL INSOLVENCY, BANKRUPTCY OF ENTERPRISES

Section III. FINANCIAL RESULTS OF THE ACTIVITIES OF THE ENTERPRISES

Chapter 11. INCOME AND EXPENSES OF ENTERPRISES

Chapter 12. MARGINAL METHOD AND ANALYSIS. BREAKEVEN POINT

Chapter 13. PROFIT AND THE SYSTEM OF INDICATORS OF PROFITABILITY

Chapter 14. DIVIDEND POLICY OF THE JOINT STOCK COMPANY

Section IV. Business relationships with banks tttn

Chapter 16. VEXCEL REFERRAL

Chapter 17. BORROWED FUNDS OF ENTERPRISES

Chapter 18. LEASING AS A KIND OF INVESTMENT ACTIVITIES

Section V. Financial planning of enterprises

Chapter 19. FINANCIAL PLANNING. BUDGETING

Year of issue : 2005

Genre: Finance, credit

Publisher:"Finance and Statistics"


Format: PDF

Quality: Scanned pages

Number of pages: 512


Description: The textbook "Finance and Credit" was prepared by a team of teachers of the Department of "Finance, Monetary Circulation and Credit" of the State University of Management.
The need to write this textbook is due to the new specialty "Finance and Credit", in which the department prepares future specialists.
The role of financial and credit management levers increases sharply with the improvement of market relations and cardinal changes in the Russian economy.
Finance and credit, as economic, monetary relations, organically participate in the mechanism of regulation of the economic process. With the development of entrepreneurship, privatization, competitiveness of enterprises, organizations, joint-stock companies, it is necessary to study the theory and practice of the functioning of finance and credit, to be able to manage financial and credit resources.

The textbook "Finance and Credit" was written in accordance with the requirements of the State Educational Standard for the specialty "Finance and Credit" by the teachers of the State University of Management. The complex of financial and credit management levers at both the macro and micro levels is considered. Financial and credit problems are presented based on the current stage of development of Russia, taking into account the latest decisions of the Government of the Russian Federation, the Budget and Tax Codes of the Russian Federation. The actual digital material is given, examples and calculations are given.
For students, graduate students and teachers of economic universities, as well as for employees of financial and economic services of enterprises and organizations.

FINANCE
Chapter 1. Finance of the Russian Federation
1.1. The essence and functions of finance
1.2. Financial system Test questions
Chapter 2. The budget of the Russian Federation
2.1. Economic content and role of the budget
2.2. Budget revenues
2.3. Budget expenditures
Chapter 3. Targeted budgetary and extrabudgetary funds
3.1. Targeted budget funds
3.2. Extrabudgetary funds
Chapter 4. Organization of insurance
4.1. Insurance as an economic category
4.2. The basics of organizing insurance relations
4.3. Classification and characteristics of insurance services Test questions
Chapter 5. Management of the organization's finances and its financial condition
5.1. The essence and organization of enterprise finances
5.2. Management of the financial condition of an enterprise, organization
Chapter 6. Revenues, costs and profits of the organization (enterprise)
6.1. Revenue from product sales
6.2. Production costs, their structure and classification
6.3. Profit and profitability
6.4. Planning and forecasting profits in a market economy
6.5. Profit distribution
Chapter 7. Taxation of the organization
7.1. Fundamentals of the taxation system in the Russian Federation
7.2. Federal taxes
7.3. Regional and local taxes
7.4. Features of taxation of small businesses
Chapter 8. Investment activity of organizations and financing of non-current assets
8.1. Investment activity of enterprises carried out in the form of capital investments
8.2. Sources of capital investment financing
8.3. Composition of non-current assets of enterprises and business organizations
Chapter 9. Working capital management
9.1. Purpose, purpose and structure of working capital
9.2. Inventory management
9.3. Accounts receivable and cash management
9.4. Sources of working capital formation
9.5. Evaluation of the efficiency of using working capital
Chapter 10. Financial planning and analysis of the financial activities of the organization
10.1. The essence and purpose of financial planning
10.2. Financial planning process models
10.3. Financial analysis as a financial planning management tool
10.4. Financial strategy and its role in financial planning management
Chapter 11. State financial control
Organization of state financial control
Types and forms of state financial control
State financial control bodies
CREDIT AND SECURITIES MARKET

Chapter 12. Credit and credit relations
12.1. Essence and functions of credit
12.2. Basic forms of credit
12.3. Organization of short-term lending
Chapter 13. Banking system of the Russian Federation
Role of the Central Bank of the Russian Federation
Savings Bank of the Russian Federation
13.3. Commercial banks
Chapter 14. Bank operations
14.1. Active and passive operations
14.2. Credit operations - the basis of banks' credit policy
14.3. Non-traditional operations of commercial banks
14.4. Investment activity of commercial banks
14.5. Settlement transactions of banks
Chapter 15. Cashless payments
15.1. Organizational foundations of non-cash payment turnover
15.2. Domestic forms of cashless payments
15.3. Settlements for export-import operations
Chapter 16. Securities market and stock exchange
16.1. The essence and types of securities
16.2. The securities market and its participants
16.3. Stock Exchange. Operations with securities
Chapter 17. Financial and credit mechanism of currency relations
17.1. Capital management of enterprises engaged in export-import operations
17.2. Features of the organization of settlements when registering currency transactions
17.3. Financial and banking control of foreign exchange relations
Literature


To insure transactions in national insurance companies, as well as those measures that are aimed at maintaining the currency stability of the state. The prohibitions against local banks on financing illegal imports, as well as legal measures obliging foreign participants to reinvest part of the profits received there, are not subject to restrictions. However, state requirements to prohibit the payment of dividends to foreign shareholders who participate in these companies in accordance with local legislation fall under the prohibitive practice. Consequently, restrictions are those actions that restrict payments on current international transactions. Passive control measures, such as the obligation to provide statistical data to the authorities, do not fall under the notion of restriction. Restrictions on the international movement of capital are permissible without the consent of the Fund. Although in some cases it is difficult to tell the difference between current transactions and capital transfers. Thus, Article XXX (e) gives the concept of “payments for current transactions”. These include mainly foreign trade payments, payments for the provision of international services and money transfers in the amount of a living wage. This item also includes interest payments, loan repayments, net income from foreign investment, amortization payments and payments in connection with “short-term banking and lending operations”. The Agreement does not define such important concepts as “capital” and “current transfer”. The treaty uses the term “transfer” to refer to both current international payments and international capital flows. Capital flows and current international payments and transfers should be carefully distinguished from each other in practice. Member countries of the IMF that have committed themselves to converting their national currencies, and limiting their current payments, must obtain the consent of the Fund. Its consent must also be obtained from member countries with a special status if they intend to introduce "new restrictions". To do this, you must submit a written application with justification. The decision on it is taken by the Executive Directorate, and it must be taken immediately. 4.2. Methods for coordinating the positions of the Fund and the participating countries. Consulting. The IMF uses this form to encourage its members to fulfill their obligations. At the same time, the consultation procedure makes it possible to prevent and uncover violations in advance. Representation. Translated as "notice" and as "presentation". Since submissions go beyond “informal” notifications, these are specific submissions from the Fund to the Member State concerned. The Fund resorts to submission when violations by a Member State become repeated despite prior notice. As a last resort, the Fund can publicly condemn the practice of a member state in its report. However, the Foundation never took advantage of this opportunity. Voluntariness. The above-mentioned powers of the Fund may seem as if they are not working, but thanks to this, the member states as sovereigns retain the ability to adapt and bring their norms to the norms of international law. Therefore, it can be assumed that the member states, in principle, share the point of view that it is necessary to comply with the rules of the game defined by the foundation, guided not only and not so much by the reasons of the legal and ethical order in accordance with the international legal principle, but also by virtue of the awareness of the need to rely on mutual respect interests of each other, as well as the sense of solidarity inherent in members of the same community. Refusal to provide funds. It is used in cases where all the previous measures did not work. Alexander Kafka, a former executive director of the Fund in the late 1970s, described the effectiveness of this measure as follows: “Despite the existence of other 'sanctions', the refusal to provide the Fund's funds turned out to be the only effective measure. It gained even more power if the Fund was supported by other creditors. " In practice, the Foundation has rarely, but applied this sanction. In 1948. France was denied receiving funds because it changed its currency parity without the prior consent of the Fund. Expulsion from the Fund. It is the strongest impact. Only once did the Foundation use this remedy, excluding Czechoslovakia from the community. The fund can deprive the offending country of the right to receive loans. If it does not stop its practice within a reasonable time, then the question of excluding the country from the Fund is raised. This provision is not mandatory. It only provides the Fund with the ability to make a decision at its own discretion, taking into account many circumstances. In 1978, Cambodia was deprived of the right to use loans due to its inability to repay them, in 1985 - Vietnam and Guiana, in 1986 - Liberia and Sudan. At the same time, the Fund showed clear inaction when the United States in May 1971. closed the "golden window" and after the Netherlands, the Federal Republic of Germany and other countries, many states introduced "floating exchange rates". This was contrary to the provisions of Article IV of the IMF Treaty. However, the Foundation only in 1974. defined his attitude to this issue. Prior to that, the Fund only took into account the decisions of the member countries of the Fund on the introduction of floating rates, not approving or condemning them. Some conclusions can be drawn from this. Legal regulations and conflict of laws law, in particular, are designed to protect the state, whether they are members of the IMF or not. However, it should be remembered that the current level of interconnections and interdependencies of states, their policies, economics is such that the responsibility of each participant in the field of world trade and international finance is increasing immeasurably. Therefore, their national interests and the interests of the world community as a whole no longer contradict each other, but complement each other. And this does not go without conflict of laws consequences. The objectives of international monetary law do not become meaningless after the adoption of Article VIII, Sect. 2 (c). Foreign exchange cooperation should show itself in the framework of private transactions. Done with the application of foreign exchange law, which has already become an axiom. It has already become not entirely justified to strengthen the bastions of national law. On the other hand, one cannot agree that all problems disappear with the application of foreign exchange law. Being the subject of regulation of foreign exchange law, private cross-border relations between the debtor and the creditor become, to no less extent, the objects of economic and general political decisions. States that are prone to strict and careful regulation of international payments and capital flows will not have an advantage over states that manage with a minimum in currency regulation or are limited to taking measures only in extreme cases. This, in the final case, is the subject of politicians in the sphere of politics, economics, and culture itself. Control questions. 1. Describe international finance as a way of resolving the contradiction of the isolation of national producers. 2. What is shaping the trend of alignment of world prices for goods in the world market? 3. What is the need for supranational regulation of financial and credit relations in Russia? 4. Give the concept of private international monetary law, international (public) monetary law, international financial law. 5. Name the international financial and credit organizations, of which Russia is a member. 6. Which organizationally and financially independent institutions form the structure of the World Bank? Their goals and objectives? 7. What are the characteristics of a freely convertible currency? Give examples of freely convertible currencies. 8. Describe the stages of the formation of the world monetary system (gold standard, gold exchange standard, Bretton Woods monetary system, European monetary system). 9. What are the methods of regulating exchange rates. 10. What was the starting point for the development of international settlements, cooperation in the currency sphere? 11. In what areas is the coordination of the positions of the International Monetary Fund and the participating countries? Test for the section "International and local finance" 1. The totality of all entities involved in financial management is called 1.1. financial management 1.2. financial asset 1.3. financial apparatus 1.4. financial analysis 1.5 there are no correct answers 2. The concept of "financial management" (FF), "economic management" (UE) are related as follows 2.1. UE UV 2.2. UV UE 2.3. UE UE 3. The main instruments of intervention in the economy are government spending, which can create additional demand. This is typical for the following type of financial policy 3.1. planning and directive 3.2. classical 3.3. regulating 3.4. neoconservative regulatory 3.5. no correct answers 4. Corporate finance management bodies directly include 4.1. State Duma 4.2. President of the Russian Federation 4.3. Ministry of Finance 4.4. Central Bank of the Russian Federation 4.5. Ministry of Trade and Economic Development 4.6. Head of the enterprise 4.7. Chief accountant 4.8. Financial manager 4.9.) All answers are correct 5. The principle, which expresses the presence of own sources of income of the local budget, determined in accordance with the legislation of the Russian Federation, states that when spending funds, the local budget proceeds from its own expediency. It's called 5.1. completeness principle 5.2. the principle of unity 5.3. the principle of publicity 5.4. principle of independence 5.5. principle of responsibility 5.6. no correct answers 6. Local budget own revenues are 6.1. subsidies from the higher budget 6.2. car parking fee 6.3. deductions from personal income tax 6.4. subventions 6.5. resort tax 6.6. funds received from the financial support fund 6.7. income from the lease of municipal property 7. Expenditure items of the budget of the city of Vladivostok are 7.1. expenses for the elections of the governor of the Primorsky Territory 7. 2. improvement of the territories of Vladivostok 7.3. protection of public order 7.4. expenses for the management of municipal property 7.5. financing of secondary education 7.6. disposal of radioactive waste 7.7. debt service for Vladivostok 7.8. support for the fishing industry of the region 8. Can the municipality attract monetary resources on a credit basis to cover the local budget deficit 8.1. yes 8.2. no 9. For settlement and cash services of the local budget, the municipal authority chooses a bank 9.1. in accordance with the decree of the Government of the Russian Federation 9.2. by yourself 9.3. based on the directive of the Central Bank of the Russian Federation 9.4. no correct answers 10. Projects of the budget of the municipal formation local authorities 10.1. develop in accordance with a unified budget classification based on the Federal Law "On the budget classification of the Russian Federation" dated 15.08.96 No. 115-FZ (with amendments and additions) 10.2 develop and approve their budget classification based on the specifics of the local budget 10.3. they generally do not use the budget classification adopted by the federal law, since the local budget differs significantly from the federal budget in terms of volume and nature 10.4. no correct answers 11. Long-term financial assistance to poorer countries at lower interest rates is provided 11.1. International Finance Corporation 11.2. International Development Association 11.3. International Monetary Fund 11.4. there are no correct answers 12. The gradual loss of monetary functions by gold is called 12.1. devaluation 12.2. remonetization 12.3. revaluation 12.4. demonetization 13. The international monetary facility created by the IMF is called 13.1. ECU 13.2. SDR 13.3. EURO 13.4. Eurodollar 13.5. petrodollar 14. The price of a monetary unit of one country, expressed in the currency of another country, is called 14.1. currency parity 14.2. currency basket 14.3. exchange rate 14.4. no correct answers 15. The main features of the Bretton Woods monetary system are 15.1. all countries have fixed their currencies against the dollar and against gold 15.2. the US dollar and the pound sterling played the role of a base for establishing the parities of all other currencies of the capitalist countries 15.3. course deviation was allowed within one percent 15.4. the dollar was exchanged for gold at the official price of $ 35 per troy ounce 15.5. all answers are correct 16. Devaluation of the national currency 16.1. stimulates export 16.2. stimulates imports 16. 3. does not affect export and import in any way 17. Purchase and sale of foreign currency by the Central Bank of the Russian Federation to maintain or increase the rate of the national currency is called 17.1. discount policy 17.2. foreign exchange intervention 17.3. currency restrictions 17.4. no correct answers 18. The IMF seeks 18.1 to limit the convertibility of currencies of member countries for the purposes of international economic turnover 18.2. practically implement full convertibility of the currencies of its members for unimpeded international economic turnover 18.3. The IMF does not deal with the problems of currency convertibility at all, playing only the role of the world economic stabilizer 18.3. there are no correct answers 19. To prevent and reveal violations of the IMF member countries, this organization uses the following way of harmonizing positions 19.1. expulsion from the fund 19.2. consultations 19.3. refusal to provide funds 19.4. no correct answers Seminar lesson plans. Topic 1. Finance as an economic category. 1. The economic essence of finance. Finance functions. 2. Features of the formation of financial relations in Russia in the 90s. 3. Causes and consequences of the financial crisis in Russia in August 1998. 4. Foreign experience of anti-inflationary regulation and the possibility of its application in Russia. 5. Monetary and non-monetary factors of financial stabilization. Literature: 1. Finance. Money turnover. Credit: Textbook / Ed. L.A. Drobozina. - M .: Finance. IO "UNITY", 1997. -477 p. 2. Finance: Textbook / Ed. V.M. Rodionova. - M .: Finance and statistics, 1995 .-- 431 p. 3. Dadashev A.Z., Chernik D.G. Financial system of Russia: Textbook. - M .: Infra-M, 1997. 4. Finances: Textbook / Ed. prof. A.M. Kovaleva. - M .: Finance and statistics, 1997 .-- 336 p. 5. General theory of finance: Textbook / Ed. L.A. Drobozina. - M .: Banks and stock exchanges: UNITI, 1995. -256 p. 6. Simanovskiy A.Yu. Financial and banking sector of the Russian economy: issues of formation and use. - M., 1995. Topic 2. The budgetary system of Russia. 1. Principles of building the budgetary system of Russia. Consolidated budget concept. 2. Budgetary process and budgetary arrangement. 3. Interbudgetary relations, problems of budgetary federalism. 4. The budget code of the Russian Federation, its assessment. Literature: 1. The Budget Code of the Russian Federation. - M .: Association of Authors and Publishers "TANDEM". EKMOS Publishing House. - 1998 .-- 128 p. 2. Law of the Russian Federation "On the fundamentals of the budgetary structure and budgetary process in the RSFSR" from 17. 10.91. 3. The budgetary process in the Russian Federation: Textbook / L.G. Baranova, O. V. Vrublevskaya and others - M .: INFRA-M, 1998 .-- 222 p. 4. Assessment of the Budget Code of the Russian Federation // Economic Issues. -1998. - No. 10. 5. Vavilov Yu.Ya. Public Debt Issues in the Budget Code of the Russian Federation // Finance. - 1999. - No. 7. - p.23-26. 6. Bolshakov NS The need to improve the budgetary system // Finance. - 1999. - No. 7. - p. 19-21. 7. Romanenko A.I. Implementation of the principles of budgetary federalism by federal treasury bodies // Finance. - 1998. - No. 10. - p.16-19. 8. Maksimova N.S. On reforming interbudgetary relations in the Russian Federation // Finance. - 1998. - № 6. 9. Ulyukaev A.V. The system of interbudgetary relations in the Russian Federation // Finance. - 1998. - No. 2. - p. 13-16. 10.Igudin A.G., Poponova N.A. Some problems of interbudgetary relations in Germany and Russia // Finance. - 1999. - No. 4. - p. 49-53. 11.Chichelev M.E. On the restructuring of the budgetary system // Finance. - 1999. - No. 5. - p.21-24. Topic 3. State budget. 1. State budget, its economic nature. 2. Budget classification, concept, composition. 3. Incomes and expenses of the Federal budget of the Russian Federation, their structure, social orientation. 4. Sources of financing the federal budget deficit. 5. Budget sequestration, concept, implementation mechanism (Russian and world experience). Literature: 1. Federal Law On the Federal Budget for 1999 // Rossiyskaya Gazeta. - 25.02.99. 2. Federal Law On Budget Classification, 1996. 3. Federal Law On the Financial Basis of Local Self-Government in the Russian Federation // Economy and Life. - 1997.- No. 41. 4. Pankin M.A. Does Russia need sequestration? // Finance. - 1998. - No. 11. - p.12-15 5. Rodionova V.M. Modern requirements for budgetary legislation // Finance. - 1998. - № 7. 6. Rodionova V.М. Problems of improving the budgetary legislation of the Russian Federation // Finance. - 1997. - № 4. Topic 4. Organization of public finances: management and control. 1. Financial management. 2. Financial policy of the state. Types of financial policies. 3. Financial control. Literature: 1. Finance. Money turnover. Credit: Textbook / Ed. L.A. Drobozina. - M .: Finance. IO "UNITY", 1997. -477 p. 2. Finance: Textbook / Ed. V.M. Rodionova. - M .: Finance and statistics, 1995 .-- 431 p. 3. Dadashev A.Z., Chernik D.G. Financial system of Russia: Textbook. - M .: Infra-M, 1997. 4. Finances: Textbook / Ed. prof. A.M. Kovaleva. - M .: Finance and statistics, 1997 .-- 336 p. 5. General theory of finance: Textbook / Ed. L.A. Drobozina. - M .: Banks and stock exchanges: UNITI, 1995. -256 p. Topic 5. Financial foundations of local self-government in the Russian Federation. 1. Local finance, concept, principles of formation and use. 2. Revenues and expenditures of local budgets. 3. Fundamentals of the formation and functioning of FFFMO (fund for financial support of municipalities in the constituent entity of the Russian Federation). 4. Municipal loans. Literature: 1. Federal Law On the Financial Foundations of Local Self-Government in the Russian Federation // Economy and Life. - 1997.- № 41. 2. Pronina L.I. Legislative basis of local finance // Finance. - 1998. - № 1. 3. Pronina L.I. On local finance in the draft Budget Code // Finance. - 1998. - No. 6. 4. A.D. Barsky., A.N. Dankov. Municipal credit in pre-revolutionary Russia // Money and credit. - 1997. - No. 6. 5. Lvov N, V., Trunov S.A. Local finance and the formation of budgets of municipalities // Finance. - 1997. - № 11. 6. Panskov V.G. On some problems of financial independence of local self-government // Finance. - 1999. - No. 3. - p. 5-10. 7. Khristenko V. B. Problems and prospects of reforming interbudgetary relations // Finance. - 1999. - No. 5. - p. 12-17. Topic 6. State loan. 1. The concept of public credit, the essence and economic functions. 2. Forms of government loans. Loan classification. 3. Public debt and its management. Literature: 1. International monetary and financial relations / Textbook, ed. L.N. Krasavina. - M., 1994.2.L. Chepurina. External log of Russia // Finance and credit. - 1998. - No. 8. - c. 5-8. 3. Volozhinskaya M.O. On the issue of Russia's external debt // Finance. - 1999. - No. 4. 4. Kheifets B.A. Russia's external debt // Finance. - 1999. - No. 2. - p. 22-25. Topic 7. The exchange rate of the ruble in the formation of the export-import policy of Russia. 1. Regulation of the ruble exchange rate. Domestic and foreign experience. 2. Practice of insurance of currency risks in export-import operations. 3. Inflation and the exchange rate of the ruble. Literature: 1. Simanovsky A.Yu. Financial and banking sector of the Russian economy: issues of formation and use. - M., 1995. 2. magazines "Finance and Credit", "Money and Credit", "SOTSis". Topic 8. Taxes in the public finance system. 1. The economic content of taxes, functions, classification. 2. The tax system of the Russian Federation, the principles of its construction. 3. Tax systems of foreign countries. Literature: 1. Law On the Basics of the Tax System in the Russian Federation of 16. 07.92g. with rev. and add. 2. Chernik D. Taxes in a market economy. - M .: Finance, 1997. 3. Taxes: Textbook / Ed. D.G. Chernik. - M .: Finance and statistics, 1997. - 688p. 4. Panskov V.G. Tax burden in the Russian tax system // Finance. - 1998. - No. 11. - c. 18-24. Topic 9. Financial markets. 1. Financial market, concept, structure. 2. Financial instruments on stock markets (government securities, corporate, municipal, derivative securities). 3. Professional participants at RZB in Russia. 4. Objects of taxation in the stock market. 5. Foreign experience in the regulation of financial markets. Literature: 1. Federal Law On the Securities Market of 22.04.96. 2. Regulations on the procedure for licensing professional activities at the RCB // Economy and Life - 1997.- №41. 3. Economics: Textbook / Ed. Assoc. A.S. Bulatov. 2nd ed. - M .: Publishing house BEK, 1997 .-- 816 p. 4. Feldman AB State securities: textbook and reference manual - M .: Infra-M, 1995. - 240 p. 5. Feldman A.B. On derivative financial instruments // Finance. - 1998. - No. 11. - c. 45-49. 6. Serebryakova L.A. World experience in the regulation of the securities market // Finance. - 1996. - No. 1. - c. 10-17. 7. Chaldaeva L.A., Kilyachkov A.A. Financial instruments of the Russian stock market // Finance and credit. - 1998. - No. 1. - c. 8-15. Topic 10. Insurance in the system of financial relations. 1. The economic essence of insurance. The content of the basic concepts of insurance. 2. Branches and types of insurance. Forms of insurance. 3. Legal regulation of insurance in Russia. 4. Insurance market of the Primorsky Territory. 5. Insurance fraud. Literature: 1. Civil Code of the Russian Federation (Ch. 48). 2. Federal Law "On the organization of insurance business in Russia", 1992, as amended. and add. 3. Magazines "Insurance business", "Insurance review". Topic 11. Extrabudgetary funds. 1. The economic nature of off-budget funds. 2. Social and economic extra-budgetary funds. 3. Income and expenses of social extra-budgetary funds: 3.1. Pension Fund. 3.2. Social Insurance Fund. 3.3. Employment Fund. 3.4. Compulsory Health Insurance Fund. Literature: 1. Law of the Russian Federation "On the fundamentals of the budgetary structure and budgetary process in the RSFSR" dated 17.10.91. 2. Finance: Textbook / Ed. prof. A.M. Kovaleva. - M .: Finance and statistics, 1997 .-- 336 p. 3. Finance. Money turnover. Credit: Textbook / Ed. L.A. Drobozina. - M .: Finance. IO "UNITY", 1997. -477 p. Topic 13. Overcoming the liquidity crisis of enterprises .. 1. Reasons for non-payments in the Russian economy in the late 80s-early 90s. 2. Prospects for overcoming the budget debt to enterprises for payment for products and services / 3. Destabilizing actions of the management of enterprises, authorities. 4. Criminalization of the financial and banking spheres in Russia in the 90s. Literature: 1. Simanovsky A.Yu. Financial and banking sector of the Russian economy: issues of formation and use. - M., 1995. 2. magazines "Finance and Credit", "Money and Credit", "SOTSis". Topic 12. International finance. 1. International finance as an economic category. 2. World monetary system. 3. World market of loan capital. 4. Supranational regulation of financial and credit relations. Literature: 1. International monetary and financial relations / Uch. manual, ed. L.N. Krasavina. - M., 1994. 2. Finance: Textbook / Ed. V.M. Rodionova. - M .: Finance and statistics, 1995 .-- 431 p. Appendix 1. The Civil Code of the Russian Federation (part two) of January 26, 1996, No. 14-FZ (as amended by the Federal Law of October 24, 97, No. 133-FZ). Chapter 48. Insurance Article 927. Voluntary and compulsory insurance. 1. Insurance is carried out on the basis of property or personal insurance contracts concluded by a citizen or legal entity (insured) with an insurance organization (insurer). The personal insurance contract is a public contract (article 426). 2. In cases where the law imposes on the persons specified in it the obligation to insure the life, health or property of other persons as policyholders, or their civil liability to other persons at their own expense or at the expense of interested parties (compulsory insurance), insurance is carried out by concluding contracts in accordance with the rules of this chapter. For insurers, the conclusion of insurance contracts on the conditions proposed by the insured is not obligatory. 3. The law may provide for cases of compulsory insurance of life, health and property of citizens at the expense of funds provided from the relevant budget (compulsory state insurance). Article 928. Interests, insurance of which is not allowed. 1. Insurance of illegal interests is not allowed. 2. Insurance of losses from participation in games, lotteries and bets is not allowed. 3. Insurance of expenses to which a person may be forced in order to release the hostages is not allowed. 4. Terms and conditions of insurance contracts that contradict clauses 1-3 of this article are null and void. Article 929. Contract of property insurance 1. Under a contract of property insurance, one party (the insurer) undertakes to compensate the other party (the insured) or another person for the benefit of which the contract was made (insurance premium) upon the occurrence of an event (insured event) provided for in the contract. the contract (to the beneficiary), losses caused as a result of this event in the insured property or losses in connection with other property interests of the policyholder (to pay insurance compensation) within the amount (insured amount) specified in the contract. 2. Under a property insurance contract, the following property interests may, in particular, be insured: 1) the risk of loss (destruction), shortage or damage to certain property (Article 930); 2) the risk of liability for obligations arising from harm to the life, health or property of other persons, and in cases provided for by law, also liability under contracts - the risk of civil liability (Articles 931 and 932);